After the British pound’s recent drop to an all-time low, “Rich Dad, Poor Dad,” author Robert Kiyosaki is advising investors to buy more precious metals. He tweeted, “Will US dollar follow English Pound Sterling? I believe it will. I believe US dollar will crash by January 2023 after Fed pivots. To profit from crash of US [dollar] I bought many more US silver Buffalo rounds. Silver is a bargain. I will not be a victim of the [expletive] FED…” He also noted that gold and silver would be wise buys as the Fed keeps hiking interest rates. Those hikes have many experts worried. “The Fed is breaking things,” said Benjamin Dunn, a former hedge fund chief risk officer who now runs consultancy Alpha Theory Advisors. “There’s really nothing historical you can point to for what’s going on in markets today…”

Coin Edition
Robert Kiyosaki Urges to Invest in ‘Real Money’

Robert Kiyosaki, the author of the famous best-selling book “Rich Dad, Poor Dad,” urges to invest in ‘Real Money’ following an imminent dollar crash.

In a Twitter thread, Kiyosaki claims that “Savers are losers.” Furthermore, he states that the US debt is about 100s of trillions and the Federal Reserve System (FED) raising interest rates will destroy the US economy; therefore, investing in real money, such as gold, silver and Bitcoin, is the key.

Following the British Pound crash and the Bank of England announcing that it would buy up as much government debt to calm markets, Kiyosaki shared his opinions on the U.S dollar following the British Pound.

You can keep reading, here.

CNBC/Hugh Son
‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world

As the Federal Reserve ramps up efforts to tame inflation, sending the dollar surging and bonds and stocks into a tailspin, concern is rising that the central bank’s campaign will have unintended and potentially dire consequences.

Markets entered a perilous new phase in the past week, one in which statistically unusual moves across asset classes are becoming commonplace. The stock selloff gets most of the headlines, but it is in the gyrations and interplay of the far bigger global markets for currencies and bonds where trouble is brewing, according to Wall Street veterans.

After being criticized for being slow to recognize inflation, the Fed has embarked on its most aggressive series of rate hikes since the 1980s. From near-zero in March, the Fed has pushed its benchmark rate to a target of at least 3%. At the same time, the plan to unwind its $8.8 trillion balance sheet in a process called “quantitative tightening,” or QT — allowing proceeds from securities the Fed has on its books to roll off each month instead of being reinvested — has removed the largest buyer of Treasurys and mortgage securities from the marketplace.

Continue reading, here.

Kitco News/Anna Golubova
Can gold price put an end to its six-month losing streak? Prices are at ‘critical juncture’ – analysts

What gold does in the next two weeks will be critical for prices going into the year-end, according to analysts. All eyes are on the latest rounds of employment and inflation data as gold shows promising signs amid escalating geopolitical tensions and intensifying market volatility.

Gold saw a key development mid-week as prices rose from 2.5-year lows and headed towards the $1,700 an ounce level. At the time of writing, December Comex futures were trading at $1,673.70, up more than 1% on the week but down for the sixth month in a row.

“On Wednesday, gold had a key reversal. We made a new swing from the lows and ended up with a higher close. We had some follow-through Thursday and Friday. Looking at the gold chart, this is very positive. We go from a short-term trend down to sideways and up now,” RJO Futures senior market strategist Frank Cholly told Kitco News.

You can read the full story, here.

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