Robert Kiyosaki: why silver squeezers failed where GameStop traders succeeded
Silver is a completely different animal from GameStop because when you’re trading silver, you’re playing against the biggest industrialists and market “manipulators” in the world, said Robert Kiyosaki, best-selling author of Rich Dad Poor Dad.
“Silver is a real asset, and GameStop is a fake asset, and so they’re also two completely different assets,” Kiyosaki said. “Silver is a $200 billion industry whereas GameStop is probably $500 million. It’s not an asset and it’s being chased by amateurs: Robinhood and Reddit. They’re not investors, they’re gamblers.”
Silver has an industrial component as well, which incentives heavy industrial companies to want to keep the price low, Kiyosaki said.
“There’s a lot of people, like the battery makers, guys like Tesla, Toshiba, and Sony, they do not want the price of silver to go up, so it is manipulated,” Kiyosaki said.