Make Kitco Your Homepage

Robert Kiyosaki: why silver squeezers failed where GameStop traders succeeded

Kitco News

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.