Dear readers, recently there was an article about more than half of Singapore’s rich investing more in safer assets like cash and gold. In the article, a rich Singaporean is defined as someone with at least USD $1 million in investible assets.
More of the rich have gravitated towards cash and gold in the current volatile economic backdrop. And I believe that the move towards gold mirrors what Robert Kiyosaki has been advocating in terms of investing in what he called God’s monies in Gold and Silver.
For, as what Robert Kiyosaki said in his books, Gold and Silver were on earth before us and they will continue to exist after us. Robert Kiyosaki advocates investing in Gold and Silver as according to him these will continue to be of value, as versus the US dollar. Robert Kiyosaki does not have a positive view on the US dollar since he deems that the dollar has lost his value ever since President Nixon took the dollar off the gold standard in 1971.
The dollar, in Robert Kiyosaki’s words has since becomes a fiat currency.