© Reuters. ‘Rich Dad, Poor Dad’ Author Says You Should Invest In These Two Assets Amid Silicon Valley Bank’s Collapse
Benzinga – In the wake of the collapse of Silicon Valley Bank, a subsidiary of SVB Financial Group (NASDAQ: SIVB), and Silvergate Bank (NYSE: SI), “Rich Dad, Poor Dad” author and entrepreneur Robert Kiyosaki warned that a third lender could possibly follow suit and suggested that his followers invest in two major assets.
In a Twitter post on Friday, Kiyosaki advised his followers to buy gold and silver, claiming that his most recent prediction aligns with his 2008 forecast of the collapse of financial services firm Lehman Brothers.
Two Major Banks have crashed. #3 set to go. BUY real gold and silver coins now. No ETFs. When Bank #3 goes gold & silver rocket up. 2008 I forecasted collapse of Lehman days before it crashed on CNN. If you want proof go to RICH DAD .com. Will be on Neil Cavuto on FOX on Monday.
— Robert Kiyosaki (@theRealKiyosaki) March 10, 2023
SVB was shut down on Friday by the California Department of Financial Protection and Innovation due to “inadequate liquidity and insolvency.” The Federal Deposit Insurance Corporation (FDIC) took control of the bank via a new entity called the Deposit Insurance National Bank of Santa Clara.
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Reaffirming his position on silver as a profitable investment during times of financial trouble, Kiyosaki tweeted last month that he agreed with Andy Schectman, president of precious metals investment firm Miles Franklin, that “silver is the most undervalued asset of a generation.”
Andy Scheckman says: “Silver is the most undervalued asset of a generation.” I agree.
— Robert Kiyosaki (@theRealKiyosaki) February 20, 2023
Kiyosaki has been recommending silver as a solid investment option for quite some time. Last year, he tweeted, “To profit from the crash of U.S. $ I bought many more U.S. silver Buffalo rounds. Silver is a bargain.”The millionaire investor and businessman previously said that the world economy is on the verge of collapse, and that, as a result of inflation, the U.S. may experience an economic downturn worse than the Great Depression during the 1930s. He also warned investors that bank runs, frozen savings, and bail-ins could soon follow.
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Photo: Gage Skidmore via Flickr
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