What happens when cities across the country, or the world for that matter, can no longer collect taxes from its taxpayers? In major cities like New York and Vancouver, the taxes the city is able to collect is dwindling as many companies and individuals are struggling financially in the wake of the coronavirus. In Robert Kiyosaki's latest quarantine update, he explains this tweet:
"NEW YORK CITY GOING BROKE. All cities count on INCOME TAX, SALES TAX & REAL ESTATE TAXES, especially COMMERCIAL RE. Add pension contributions for teachers, firefighters & police. USA GOING BROKE. FED PRINTING FAKE $ cannot SAVE YOU. Get gold, silver, bitcoin, and SAVE YOURSELF."
Watch to find out what Robert says is the reason he recommends buying gold, silver, and bitcoin rather than holding onto dollars.
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 (R) 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.