Bitcoin and Precious Metals Are Best Insurance, New Reports Says

Amidst the crash landing of financial markets, it’s been revealed that Bitcoin and gold are probably our best bets in the near future. Check out the latest reports below.

The author of the best-selling personal finance book Rich Dad Poor Dad, Robert Kiyosaki, is warning of gloomy economic prospects that are ahead.

Kiyosaki said recently that the economy would eventually witness a crash landing.

According to Kiyosaki, the assets to own as insurance against the bleak economic future he has predicted are Bitcoin (BTC) and the two best-known precious metals.

“Soft landing? Hard landing? Or crash landing? I say crash landing. I hope I am wrong yet that is what I believe. Corruption is high and leaders corrupt. Buy gold, silver, Bitcoin. Still best insurance against corruption and incompetence.”

As the online publication the Daily Hodl notes, earlier this month, the Rich Dad Poor Dad author warned that the rise in US Treasury Bill yields was an indication of a looming recession and that Bitcoin, alongside gold and silver. All these are reportedly offering the best hedge.

At the time, Kiyosaki also sounded the alarm on the global banking system. As you probably figured it out by now, he wondered whether it was collapsing.

US banking giant Wells Fargo has agreed to pay $1 billion to settle a class-action lawsuit connected to illegal practices that regulators say the bank perpetrated on the American public.

The settlement stems from a series of fraudulent business practices that Wells Fargo systematically deployed against its customers. The latest info is according to the Consumer Financial Protection Bureau (CFPB).

It’s also important to note the fact that back in December, Wells Fargo agreed to pay the CFPB a record $3.7 billion fine for illegally freezing customer accounts, charging unlawful fees, opening customer accounts without permission, and improperly seizing vehicles.