Robert Kiyosaki: Why Buffett Dumped Billions of Dollars of Bank Stocks

The Rich Dad Channel, Released on 10/5/20

Investors around the world watch to see what Warren Buffett, one of the world’s greatest investors, does as an indicator of what’s happening in the economy. Over the summer, as the world was dealing with a global pandemic, Buffett shockingly unloaded billions of dollars of bank stocks according to the Wall Street Journal. “Berkshire’s holdings of Wells Fargo and JPMorgan Chase stock dropped by more than $3 billion apiece in the second quarter, according to regulatory filings made public.”

In this update, Robert further discusses his tweet regarding Buffett’s moves out of banks:

“UNEMPLOYED BANKERS. Did Buffett dumping BIG BANKS signal end of banks? Is crypto US dollar next? Will Crypto US $ mean more loss of freedom & privacy? More Orwell’s 1984 BIG BROTHER? Will Fed replace bankers? Is Fed Big Brother? More reasons to buy gold silver Bitcoin now.”

Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time. His book titles hold four of the top ten spots on Nielsen Bookscan List’s Life-to-Date Sales from 2001-2008 alone. Robert is an educational Entrepreneur and real estate tycoon, co-creator of the CASHFLOW® board game, founder of the financial education-based Rich Dad Company and author of New York Times Bestsellers: Rich Dad’s Conspiracy of the Rich, and Unfair Advantage: The Power of Financial Education. Robert Kiyosaki is among the first to have warned Americans of an impending collapse in the US real estate market, famously prophesizing, “Your home is not an investment,” years before the Panic of 2008. His latest book is Fake: How Lies are Making the Poor and the Middle-Class Poorer.

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