Renowned personal finance author, known for his book Rich Dad Poor Dad, Robert Kiyosaki, has once again stirred debate with his sharp commentary on the global financial system, referring to their ‘game’ as “Heads I win, tails you lose.”

Taking to his X (formerly Twitter) account, Kiyosaki posted a message under the banner “Lesson #8: How to get richer as the global economy crashes”, urging followers to understand what he refers to as the “REAL GAME” being played by global bankers.

In his post, Kiyosaki states that the true dynamic of the system can be summed up as “Heads I win, tails you lose”, alleging that bankers benefit regardless of market direction. “The bankers of the world control the world because they control global cash flow,” he wrote.

He argues that the system is rigged in favor of financial institutions, where “heads bankers win, tails bankers win… but you lose.”

Kiyosaki asserts that this translates to a broader systemic issue: “Privatize our wins…socialize our losses.” According to him, when banks succeed, they retain the profits, but in times of crisis, the losses are passed onto taxpayers. Citing the 2008 Global Financial Crisis, Kiyosaki remarked that when banks lost billions, the public “covered their loss via an increase in taxes.”

Advocates alternative assets: Gold, silver, Bitcoin, and Ethereum

Rejecting what he terms a “rigged” financial system, Kiyosaki advocated for ownership of tangible assets outside the banking system. He listed gold, silver, Bitcoin, and Ethereum as examples of such assets and emphasized that he chooses not to participate in the current financial structure by legally avoiding taxes and diversifying into these instruments.“I choose not to play that game by learning how NOT to pay taxes legally and own tangible assets outside the banking system,” he posted. The statement underscores Kiyosaki’s long-standing preference for precious metals and decentralized assets as part of his wealth strategy.

Kiyosaki also recommended the book Tax-Free Wealth by his advisor Tom Wheelwright for those interested in learning how to reduce their tax liabilities legally. He added that the book is “true throughout most of the world’s economies because the rich do not pay taxes in most countries.”

In his message, Kiyosaki recalled America’s founding in 1773 as a tax-free nation, referencing the Boston Tea Party to support his views on tax resistance.

Final word

Kiyosaki ended his post with a cautionary note to his followers: “Don’t be a loser. Get smarter with your money. Take care.”

The author of the bestselling book Rich Dad Poor Dad has consistently been a vocal critic of centralized financial institutions and fiat currency, while promoting self-education, asset diversification, and long-term wealth building strategies.

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Renowned author of Rich Dad Poor Dad, Robert Kiyosaki, has weighed in on the recent volatility across global markets, including the sharp decline in Bitcoin, saying he is not selling his holdings despite the downturn. He argued that the current selloff is being driven by a global dash for cash rather than a breakdown in fundamental value.

In a detailed post on X, the Rich Dad Poor Dad author described the ongoing turbulence as part of a broader squeeze, but maintained that he is choosing to hold on to his assets.

Kiyosaki said that the world’s deepening debt situation and the potential onset of large-scale monetary expansion—what he refers to as “The Big Print”—are central to his long-term view. While acknowledging the risks, he believes that this environment could ultimately make assets such as gold, silver, Bitcoin and Ethereum more valuable.

However, he emphasised that his stance reflects his personal financial position and repeatedly stressed that his comments do not constitute investment advice.

Sharing his outlook in the post, Kiyosaki wrote, “BITCOIN CRASHING: The everything bubbles are bursting….” When asked whether he is selling, he responded, “NO: I am waiting.”

Explaining his reasoning, he said, “The cause of all markets crashing is the world is in need of cash. I do not need cash.” According to him, the primary reason he is holding on is his expectation of a significant monetary event.

As he put it, “The real reason I am not selling is because the problem…. The world is deeply in debt…. and my bet is ‘The Big Print’… is about to begin…. which will make gold, silver, Bitcoin, and Ethereum more valuable….as fake money crashes.”

He also acknowledged that his view may not play out as expected. To a question about whether he and author Lawrence Lepard could be wrong, he replied simply: “Yes.” Throughout his post, Kiyosaki reiterated that he is not offering financial advice, saying, “I do not give investment advice. I share with you what I am doing.”

He added that many people may need cash urgently, which could justify their decision to sell. “If you are fearful and need cash….as most of the world does…. You may want to sell your best assets and go to cash.”

Kiyosaki even referenced Miss Piggy from the Muppets to explain his philosophy on money management, quoting, “The key to money management is to always manage to have a lot of money.”

He contrasted this with traditional education systems, which he said do not teach practical financial lessons.

Reflecting on his own past struggles, he wrote, “I ‘ve panicked many times and learned priceless personal financial lessons not taught in schools….” Despite these experiences, he said he continues to believe that mistakes are an essential part of learning and wealth-building.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Robert Kiyosaki, the outspoken author of Rich Dad Poor Dad, reignited his long-standing doomsday warning on Sunday, predicting that “the biggest crash in world history” will unfold this year and wipe out Baby Boomer retirements. In a post on X (formerly Twitter), Kiyosaki doubled down on his decades-old call to abandon “printed assets” in favour of what he calls “real assets” – specifically silver and Ethereum, which he believes are both undervalued and industrially useful.

“Baby Boom Retirements are going to be wiped out. Many boomers will be homeless or living in their kids’ basements. Sad,” Kiyosaki wrote on X, warning followers that the coming collapse will devastate traditional savings and retirement accounts. The 78-year-old author referenced his earlier work, Rich Dad’s Prophecy, noting, “I predicted the biggest crash in world history was coming in my book. That crash will happen this year.”

The financial educator, long known for his skepticism of fiat money, reiterated his mantra that “SAVERS are LOSERS,” arguing that inflation “turns savers’ cash into trash.” Instead, he urged investors to accumulate tangible and digital assets like gold, silver, Bitcoin, and Ethereum — adding that silver and Ethereum currently offer the best value proposition.

Link to post: https://x.com/theRealKiyosaki/status/1977112798133113184?t=9HZLP8s_qlwOOdbMiUKm-Q&s=08

“REMINDER: I have been warning anyone who would listen not to save printed assets. Invest in real assets,” Kiyosaki wrote, emphasizing that silver and Ethereum stand out not just as stores of value but as “used in industry.” He encouraged followers to “study pros and cons and usefulness of silver and Ethereum… from haters and lovers… and then invest with your own financial wisdom.”

Kiyosaki framed the call as a lesson in financial education, adding, “That’s how you elevate your own financial intelligence and get richer.”

A long bet on hard assets

Kiyosaki’s renewed alarm comes even as his preferred assets have soared this year. As of late September, a hypothetical portfolio tracking his favored picks — gold, silver, and Bitcoin — had gained nearly 40% in 2025, according to Finbold Research. Silver led with a 47.5% rise to $43.89 per ounce, while gold jumped 43.06% and Bitcoin climbed 21.17%.Those gains have reinforced Kiyosaki’s long-standing thesis that scarce, non-fiat assets are the safest refuge against what he views as systemic financial fragility. Whether the “biggest crash” materializes this year or not, his conviction remains clear: in a world of central bank excess and monetary uncertainty, hard assets — not savings — are the ultimate insurance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Arkham Intelligence’s new deep-dive, shared via X on September 6, pegs Vitalik Buterin’s wealth at “at least $1.05 billion”—a lower-bound tally built from identified on-chain assets and known private holdings. The report situates the estimate as of August 2025 and emphasizes that it fluctuates intraday with Ether’s price.

How Rich Is Ethereum Co-Founder Vitalik Buterin?

The backbone is Ether itself. Arkham attributes ~240,042 ETH to Buterin’s known wallets and notes that over 99% of his crypto portfolio value is in ETH. At the time of writing in the report, ETH was $4,321, implying roughly $1.04 billion of ETH exposure alone and explaining the tight co-movement between his net worth and ETH’s market cycle.

Historically, Arkham reconstructs a precise balance-history curve. On December 31, 2015, Buterin’s known crypto wealth stood at $596,760; by December 31, 2016 it was $4.23 million, then $278.37 million a year later—his largest year-over-year jump in the 2017 bull run.

He first crossed the on-chain billionaire mark at age 27 during 2021 as ETH traded above $3,000, and briefly peaked at $2.09 billion on November 18, 2021 with ETH near its cycle high. The subsequent bear market slashed the mark-to-market value by roughly 75%, from $1.2 billion (Dec 31, 2021) to $300.58 million (Dec 31, 2022), before recovering to $1.05 billion in the 2024–2025 rebound.

“The peak of Vitalik’s crypto net worth was in May 2021, when 50% of the supply of the memecoin SHIB was sent to him and was briefly worth $20 Billion. Vitalik donated those tokens to charity and did not profit off of this memecoin,” Arkham writes.

On ownership concentration, Arkham compares Buterin to other top-tier ETH holders. The ETH2 (Beacon) deposit contract leads with 66,887,347.41 ETH, followed by exchange and ETF-custody clusters (Coinbase, Binance, Kraken, Robinhood, Grayscale, BlackRock). Arkham concludes Buterin is the largest identifiable individual with access to his coins, while Estonian banker Rain Lõhmus sits on ~250,000 ETH that are believed to be inaccessible due to lost keys.

The Ethereum co-founder’s own disclosures anchor the percentages. In October 2018 he wrote: “I never had 900k ETH. When I had 0.9% of all ETH, the supply was ~75 million.” That statement frames Arkham’s finding that his share never materially exceeded ~0.9% and has trended down over time as he sold or donated and as supply evolved.

Non-ETH positions are small in dollar terms but spelled out with exact counts. As of publication, Arkham shows 10,000,000,000 WHITE (~$3.72 million), 30,000,000,000 MOODENG (~$690,000), and 869,509 KNC (~$327,000) among his larger non-ETH tokens. The long tail includes $12,400 of TORN linked to Tornado Cash usage and 218,413,000 SHIB (~$2,720) remaining on known addresses.

Buterin has publicly explained some of the flows that complicate “sales” tallies. In August 2022 he stated, “I’ll out myself as someone who has used [Tornado Cash] to donate to this exact cause,” referring to donations to Ukraine; he has also said that exchange-bound transfers from his wallets since 2018 have been for donations, not personal profit-taking.

Off-chain, Arkham highlights early equity in zero-knowledge firm StarkWare, which reached an $8 billion valuation in its 2022 Series D—an illiquid but potentially meaningful additive to the on-chain floor. Precise sizing of these stakes is not disclosed, so Arkham treats the $1.05 billion as a conservative baseline rather than a cap.

At press time, Ethereum traded at $4,298.

Featured image created with DALL.E, chart from TradingView.com

“I am calling on you to move out immediately,” Cuomo wrote in a widely-viewed social media post this weekend, casting Mamdani as “a very rich person” occupying an apartment that could otherwise be used by a homeless family.

The line of attack drew tens of millions of views online and revived a long-standing debate about who should have access to New York’s highly sought-after rent stabilized units, which make up roughly 40% of the city’s rental stock and are currently open to people of all incomes.

It also illustrated the rhetorical lengths that Cuomo is willing to go to as he mounts an independent bid for mayor against Mamdani, a democratic socialist who defeated him handily in the Democratic primary on a platform that centered on affordability and freezing rent on stabilized units.

Mamdani, who earns $143,000 annually as a state legislator, has said he pays $2,300 per month for a one-bedroom apartment in Queens that he shares with his wife — a living situation that Cuomo called “disgusting.”

By contrast, Cuomo, a multimillionaire who previously served as the state’s governor, spends roughly $8,000 monthly on an apartment in Midtown Manhattan that he moved to last year from Westchester County, a wealthy suburb.

In recent weeks, the 67-year-old Cuomo has adopted a more aggressive social media presence, earning both praise and mockery for his use of millennial internet-speak and repeated references to his opponent’s “privilege.” Mamdani’s mother is a successful independent filmmaker and his father is a Columbia University professor.

On Monday, Cuomo went a step further, releasing a formal proposal, which he dubbed “Zohran’s Law,” barring landlords from leasing vacant rent stabilized units to “wealthy tenants,” defined as those who would pay less than 30% of their income toward the existing rent.

The rent regulation program, which caps how much landlords can raise rent each year on roughly 1 million apartments, does not currently include any income restrictions — something opponents have long pushed to change.

While the average rent stabilized household makes $60,000 annually, it is not uncommon for middle- or higher-income New Yorkers to live in the units, which sometimes rent for several thousand dollars per month.

But Cuomo’s idea drew swift skepticism from some housing experts, who noted the cap would, by definition, mean all new tenants of rent stabilized units would give up a substantial portion of their income.

“The idea that we should only have people living in apartments they can’t afford seems to be setting people up for failure,” said Ellen Davidson, a housing attorney at The Legal Aid Society. “It’s not a proposal from somebody who knows anything about the housing market or New York City.”

The Real Estate Board of New York, a landlord group whose members overwhelmingly backed Cuomo in the primary, did not respond to an inquiry about whether they supported the proposal. But in an email, the group’s president, James Whelan, said that the “benefits of rent regulation are not well targeted” and that some form of means testing should be considered.

Under state law, hikes on rent-stabilized units are decided by an appointed board, rather than landlords.

“Rent stabilization has never been means tested because it’s not an affordable housing program, it’s a program about neighborhood stability,” said Davidson, the housing attorney, adding that the proposal would likely present a “bureaucratic nightmare.”

A spokesperson for Cuomo’s campaign, Rich Azzopardi, said in a text message that “the ultra wealthy and privileged should not be taking advantage of a program meant to aide working New Yorkers,” adding that the income threshold standards would fall under the same system that governs the city’s other programs for low-income housing.

Mamdani’s spokesperson, Dora Pekec, said the proposal proved that Cuomo was both desperate and out of touch.

“While Cuomo cares only for the well-being of his Republican donors, Zohran believes city government’s job is to guarantee a life of dignity, not determine who is worth one,” she added.

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Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad, in his recent post on X (formerly Twitter), explained how investment veterans Warren Buffett and Jim Rogers have sold most of their stocks and bonds and are now holding cash or silver.

Referring to their actions, Kiyosaki urged followers to find out why, and added that he is staying invested in gold, silver, and Bitcoin.

“If you do not know why Buffet and Rogers have sold their stocks and bonds you may want to find out. I sit tight with gold, silver, & Bitcoin,” he said in his tweet.

He noted that America’s debt levels are historically high and suggested that continued reliance on printed money may not be sustainable.

In a strongly worded message, Kiyosaki wrote, “Good luck. We may be on the brink of another 1929 crash and another Great Depression.”

The recent tweet reiterates his long-standing belief that the current U.S. economic trajectory is unsustainable due to surging national debt and unchecked money printing by the Federal Reserve.

Kiyosaki, on multiple occasions, has declared that he personally prefers holding physical gold, silver, and Bitcoin over equities or ETFs. In his previous tweet, he said, “You can only print money to pay your bills…for so long,” emphasizing his view that reliance on fiat currency and fiscal stimulus is pushing the U.S. economy toward a collapse.

Today, he has urged the investors to do their own research and to explore why figures like Buffett and Rogers may be rotating out of traditional assets.

This tweet aligns with his previous posts that emphasized the importance of real, tangible assets in times of economic instability, even drawing a metaphor comparing ETFs to a “picture of a gun for personal defense,” suggesting that while financial instruments like gold or Bitcoin ETFs are convenient for average investors, they lack the protection of physically held assets.

“Sometimes it’s best to have real gold, silver, Bitcoin, and a gun,” he has said.

As concerns over inflation, interest rates, and global market volatility continue, Kiyosaki’s repeated calls to diversify into hard assets are drawing fresh attention—especially when accompanied by mentions of high-profile investors like Buffett.

His warnings may not predict the exact timing of market events but they continue to influence investor sentiment around safe-haven assets in uncertain times.

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For most retail investors, the word “equity” instinctively signals higher returns, and higher risk. It is commonly assumed that increasing the equity allocation in a portfolio proportionally increases its volatility. However, as counterintuitive as it may sound, this belief doesn’t always hold true.

Empirical data demonstrates that equity, when added judiciously to a debt-heavy portfolio, can actually reduce overall portfolio volatility while improving returns. This article explores that relationship and goes a step further, demonstrating how adding a third asset class like gold can further optimize the risk-reward profile of a portfolio.

Adding equity is not equal to adding volatility

Let’s begin with a basic portfolio comparison. A 100% bond portfolio, over the studied period, delivered an average annual return of 7.1% with a volatility of 6.8%. However, introducing just 10% equity into the mix (i.e., 90% debt and 10% equity) improves the return to 8.2% and, quite remarkably, reduces the volatility to 6.0%.

This isn’t an anomaly. A 75% bond and 25% equity portfolio delivered a return of 9.3%, still maintaining a volatility of just 6.9%—almost at par with a 100% bond portfolio.

This behavior is primarily due to the low correlation between debt and equity. When asset classes do not move in perfect sync, they tend to offset each other’s volatility, creating a smoother return path. This phenomenon is referred to as diversification benefit, and it forms the foundation of modern portfolio theory.

Introducing Gold: A third asset with distinct value

The picture becomes even more compelling when a third asset class—gold—is added to the equity-debt mix. Gold is known for its negative correlation with equity and low correlation with bonds, especially during economic stress or inflationary periods. When 20% gold is introduced into a two-asset portfolio of 75% debt and 25% equity, the new three-asset portfolio (55% debt, 25% equity, 20% gold) maintains a volatility level similar to that of the 100% bond portfolio (6.8%) while achieving an average return of 11.1%.

What this means is profound: investors can add a return-generating asset like gold without increasing portfolio volatility. In fact, the return-volatility curve shifts leftward, showing improved returns for the same or even lower levels of risk. The presence of gold acts as a hedge during equity drawdowns and also performs well during economic uncertainties, such as currency depreciation or geopolitical stress.

The importance of diversification across market cycles

An analysis of calendar-year returns between 2013 and 2024 shows that asset class leadership changes frequently. In some years, domestic equity (S&P BSE Sensex) tops the chart, while in others, gold or foreign equities outperform. For instance, gold surged in 2020 with a 28.1% return when equities were under pressure. In contrast, domestic equities delivered a 25.5% return in 2023 when gold was relatively moderate.

This year-to-year rotation of performance underscores a key investment truth: it is nearly impossible to predict the top-performing asset class consistently. Relying on a single asset class exposes investors to concentration risk. Diversification across equity, debt, gold, and foreign assets ensures that while some assets may underperform, others may outperform, thereby cushioning the overall impact.

The correlation advantage: How unrelated assets work in tandem

A key reason why diversification works lies in the correlation matrix between asset classes. Over the observed period:

• Indian equity and gold had a negative correlation of -0.48
• Debt had a mildly positive correlation with gold (0.05) and foreign equity (0.13)
• Indian equity and US equity showed a moderate positive correlation of 0.42

Constructing a sample multi-asset portfolio

Based on the above observations, let’s construct a diversified portfolio that balances growth, stability, and protection:

• 25% Indian Equity (S&P BSE Sensex TRI)
• 45% Debt (CRISIL Short-Term Bond Index)
• 25% Gold (MCX Gold)
• 5% US Equity (S&P 500 TRI)

This portfolio is rebalanced annually. Over the period from FY2019 to FY2025, it delivered a compound annual growth rate (CAGR) of 10.7% with significantly lower volatility compared to a 100% equity portfolio.

Interestingly, during years when Indian equity posted negative or flat returns, gold and debt often provided positive returns, acting as effective stabilizers. For example, in FY2023, Indian equity returned only 1.7%, but gold delivered 14.2%, and debt remained stable. The combined portfolio still managed a positive return of 3.5% that year.

Final thought!

The traditional notion that higher returns must come with higher volatility no longer holds water in a world where intelligent asset allocation is possible. Empirical data clearly shows that a well-balanced portfolio made of low and negatively correlated assets can offer higher returns with reduced risk. The key lies in thoughtful construction and periodic rebalancing—not speculation or market timing.

(The author Chakrivardhan Kuppala is Cofounder & Executive Director, Prime Wealth Finserv Pvt. Ltd.)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)