On Oct. 2, Robert Kiyosaki stated that the prices of the three commodities — frequently referred to as safe-haven assets — would continue to fall as the US dollar strengthened.
Silver, and gold a "buying opportunity" amid the strengthening USD and continuing interest rate hikes.
The author stated in an Oct. 2 Twitter tweet to his 2.1 million followers that the prices of the three commodities — frequently referred to as safe-haven assets—would continue to fall as the US dollar strengthened. He affirms the asset's utility after the Fed pivots and lowers interest rates.
Kiyosaki forecasted in a post the day before that this shift may occur as soon as January 2023, with the USD collapsing in the same way that the English Pound Sterling did recently.
“Will the US dollar follow the British pound? I think it will.” Kiyosaki believes the US currency would fall by January 2023 if the Fed pivots, adding that he "will not be a victim of the stupid FED."
Kiyosaki has been a proponent of asset classes that the Fed cannot directly influence since May 2020. Following the Fed's sudden mass money printing episodes in reaction to the COVID-19 outbreak, he had warned investors to "Get Bitcoin and save yourself."
Interestingly, Kiyosaki still supports Bitcoin despite not believing it has any value, as he stated in a recent Rich Dad interview. In his most recent tweet, the author appears to be rallying behind Bitcoin once again, noting:
“When the Federal Reserve pivots and lowers interest rates, as England recently did, you will smile while others grieve.”
In a September letter to his mailed subscribers, Kiyosaki emphasized the need of investing in digital assets now in order to get outsized long-term returns:
“It's not enough to just WANT to go into cryptocurrency. Now is the time to invest in cryptocurrency before we witness the worst economic meltdown in history.”
Over the last year, the US dollar has progressively gained strength against other major global currencies. According to sources data, the GBP/USD, EUR/USD, and JPY/USD fell 18.24%, 15.54%, and 23.33%, respectively.
At the same time, the Fed's interest rate hike along with a rising USD has resulted in a 55% reduction in the crypto market cap over the last year.
COINGABBAR VIEWS: October is a pretty volatile period of time, especially when paired with rising inflation, and there is a lot of talk about the Fed and policy changes. The fear is that if the Fed tightens too much, the US economy may enter a severe recession.
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