In a recent interview on YouTube, Rich Dad Poor Dad author Robert Kiyosaki said that the US Federal Reserve has been buying gold for almost a year now, likely because of the spiralling national debt of nearly $36 trillion, which is accruing interests of over $1 trillion for the first time in history. Kiyosaki believes the central bank is in trouble, given that the US put on more debt in a year than it took "in the first 200 years" and that the country has been trying to solve this problem by printing more money and dropping interest rates. The multi-millionaire explained that the government "can't keep getting into debt" and pay for it with "fake money."
Kiyosaki has long advocated for assets like precious metals, including gold and silver, because of their high exchangeability, universal demand, limited supply, and negative correlation to stock markets. Gold has been a sign of wealth since ancient times. It remains a top investment pick as it doesn't face devaluation like fiat currencies and has historically surged in record prices during market upheavals in the last half-century.
