Robert Kiyosaki Recommending Silver Coins In The Face Of Economic Troubles.
Interesting piece on Yahoo Finance from Robert Kiyosaki about the decline of the American Empire and buying silver…
All empires come to an end, and the American one is no exception. We’ve fought too many foreign wars, swept too many domestic problems under the rug, and paid for our greedy consumption with money borrowed from too many countries around the world. The end isn’t just near, it’s inevitable.
For these people I’m an advocate of financial education, but I also know that many of them aren’t interested in becoming more financially astute. So instead, I recommend that they buy silver coins, as long as silver is under $25 an ounce. Today, silver is cheap and easy to acquire and manage, while real estate and businesses are both management-intensive; silver requires no management, expect for a safe storage place. In addition, the iShares silver ETF (SLV) is convenient. Silver is consumed in many industries, and it’s reported that the world has less than a 10-year supply of it left. That’s why I believe silver is currently one of the best investment opportunities there is — even for people with limited financial training.
Even if the end is near, there’s always a silver lining.
I would add something here, but I don’t have much to say. I kind of agree with him that we might have taken our financial problems too far to easily recover. (Note to self – go dig up pre-1965 silver dimes…)
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Kiyosaki has been pushing the silver investment for a while now, I read it several months ago and I thought it was just as crazy then as I do now. The last thing someone who struggles to put their money to good use needs is a bag of silver! Precious metals are rarely good investments and certainly not something that people who don’t specialize in trading them should be putting money in.
Not only all that, but it’s been estimated (a year or two ago I believe) that due to all the industrial use of silver, there is actually less of it in the world than gold.
Unfortunately, as it was so long ago, I can’t point you to any references, and it’d take me forever to dig through the archives of the mailing list on such subjects that I am a member of.
I am a big fan of coinflation.com – wonderful place to find coin info for it’s metal content!
Will check it out Dawn!
[...] Robert Kiyosaki Recommends You Invest in Silver Coins – Seriously? I know the K-man has been crazy enough to steer people away from investing in the market and mutual funds, but now he’s recommending silver coins? I do think precious metals should make up a portion of your portfolio for diversification purposes, but to suggest that people run out and buy silver coins because of a troubled market is just foolhardy. [...]
[...] Robert Kiyosaki Recommending Silver Coins In The Face Of Economic Troubles – EditInteresting opinion on the end of the US as the dominant country on the global stage, and if you follow his recommendation to buy Silver, I like the ETF approach to it… [...]
It’s simple. Dollar will collapse and precious metals will skyrocket. Don’t believe the media. Go to the Kitco.com forums and read for yourself.
Shouldn’t believe the media for much of anything these days, anyway.
Eden, I find it tough understanding how you say precious metals are rarely good investments… gold and silver have been going nowhere but UP in the last how many years. Heck, I had a small stockpile of silver in college a couple years ago, that I had bought at $7 and sold it all around $14 to pay my bills.