A financial educator and author, Robert Kiyosaki has expressed grave concerns about the United States’ financial health.
“America is now bankrupt,” he said. “And the question I want to answer today is how America, at one time, the richest country in the world, is now bankrupt?”, he asked.
While the U.S. hasn’t legally declared bankruptcy, Kiyosaki’s point underscores the nation’s worsening debt crisis.
As of Nov. 24, the U.S. national debt had reached $33.8 trillion. Jim Clark, CEO of Republic Monetary Exchange, stated that actual liabilities, including entitlements, could be as high as $200 trillion.
Fiscal 2023 saw interest payments on this debt rise to $659 billion, marking a 39% increase from the previous year and nearly double the amount in fiscal 2020.
Kiyosaki, who believes America’s financial troubles began with the abandonment of the gold standard in 1971, advocates investing in gold and silver.
He views the precious metals as safeguards against inflation and currency devaluation. The rising industrial demand for silver and the current low prices of gold and silver compared to historical highs make them particularly attractive. He also values the fact that physical gold and silver do not carry counterparty risks, unlike many other investments.