Rich Dad, Poor Dad Robert Kiyosaki Is Bullish on Bitcoin, Says USD Is a Scam
Now I have seen everything. What he argues totally makes and fully legitimizes the crypto currency pace. What a genius! I never saw thought. He also says gold and silver are not traditionally working as a typical safe haven, He says
“The US Dollar is a scam…I think the dollar is toast because gold and silver and cybercurrency are going to take it out…The US Dollar is gone…In the year 2000 there was one currency, the US Dollar. It was called the reserve currency of the world…and then came bitcoin or cybercurrency.”
“In my new book…
Of course he has a new book!
God’s money, which is gold and silver, government’s money which is fiat currency, which is done by government decree which is the dollar…
This is sort of true but he is right in this terminology but I have show this with my funding Binance
Then there’s the people’s money, which is cybercurrency on the blockchain technology. Gold is a hedge and I am expecting a collapse on the system
Forex: Gold rises and silver surges in Q1 2012 – Flat Currency Devaluation
So far in 2012, gold has performed well and is set to end the first quarter in 2012 with gains in all major currencies. Gold is 6.3% higher in US dollars, 3.2% higher in euros, 3.1% higher in pounds, 2.25% higher in Swiss francs and 12% higher in Japanese yen which fell sharply in the quarter. Silver outperformed gold to the upside and rose 16% in dollars and 12% in pounds and euros, 7% in Swiss
In fact, gold is getting its butt kicked by the S&P this quarter:
ALL of gold’s gains this year took place in the first two months, when indicators were mixed and fears about global economic growth were still prevalent. Since Feb 29, gold has dropped 7.5%, and this latest consolidation could be the pause before the next round of positive economic numbers. The gold bubble is showing clear signs of deflation. The professional touts will continue to pump up interest in gold right to the end, but they depend on the bids of novice traders to dump their own positions when the music stops–which may have already happened.
Investors have to always remember: gold is strictly a defensive investment. It will rally when currencies are weak due to inflation concerns and fears of economic instability. However, now that signs of economic recovery are starting to appear, we are seeing the inevitable collapse in gold prices forming. The only people who should be playing in the metals markets are professional traders and investors who are shifting out of metals and back into instruments which will profit from the upswing in economic activity.