Fed Is "Criminal Operation" Says Robert Kiyosaki; What To Watch Instead
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(Kitco News) - The Federal Reserve has destroyed the economy, said best-selling author Robert Kiyosaki, who prefers to make investment decisions based on world events other than monetary policies.
On gold, Kiyosaki told Kitco News that he prefers to store his holdings outside banks.
“I don’t store [gold and silver] in the banks. I’m completely outside the banking system, except I do go to the banking system to borrow money. I don’t save money inside the banking system, so my recommendation, much like my friend Jim Rickards’, is we say you’ve got to be able to operate outside the banking system, in case something, heaven forbid, happens, like a black swan goofy event and they shut the banks down,” Kiyosaki said.
He noted that banks can be shut down on occasion, especially by cyber attacks.
On the economy, Kiyosaki said that a correction is coming, and investors are responding accordingly.
“The reported attack on an oil tanker, and all that stuff and Trump rattling his saber, and China and all the uncertainty in the world, naturally it spooks people, plus the bond yields dropped and the stock market is going to crash because it’s in a bubble, so a lot people are looking for alternative answers,” he said.