Goofball "Rich Dad, Poor Dad" guy calling for a major crash. So go all in!

Remember that goofball, Robert Kiyosaki? He's the author of "Rich Dad, Poor Dad." He wrote that book, got famous, and then started giving seminars about eight or nine years ago. I think at one time Trump was even involved with him. Kiyosaki's promotion company is bankrupt now and he's being sued, but that's a whole other story.

I just saw that he's back and he's calling for a major crash, a crash he says he predicted in 2002. Should you be scared? No. It's a gift.

Kiyosaki is clueless. Here are some of his other predictions: He was telling people to buy silver and gold several years ago because there was going to be hyperinflation. He had the same, ridiculous reasoning as morons like Schiff and Jim Rogers and Glenn Beck. Idiots. 

Now he's been screaming Japan debt crisis and China on the ropes with debt, blah, blah, blah. All the usual idiotic goofball stuff a la Kyle Bass and other idiots.

Here's what you do when you see a guy who is totally clueless yet goes around making embarrassingly wrong predictions: you fade him. Big time.

Fade Kiyosaki on this. You'll be doing a public service and it's free money.

Gold at an 8-month low

I haven't written much on gold in a while because the story's been told, mainly here, and in a few other places about how utterly lousy it is as an investment.

So many people got reamed by the disastrous advice of people like Peter Schiff, Alex Jones  and Glen Beck, all of whom were beating the table with their crazy end of the world scenarios and how you had to own gold because it was going to the moon.

What's bizarre is that these people still have huge followings, but I have stopped trying to even come close to figuring that out because it makes no sense to me other than to say it's a statement about the psychology of mass behavior and cults in general.

If there's one thing that MMT got really right it was the fact that all the central bank monetary operations would not lead to inflation and therefore that meant that gold was really a hedge against nothing.

Seeing quacks like the aforementioned get tripped up in the markets is one thing, but even really big shot names got caught up in the gold frenzy; guys like John Paulson and Soros and David Einhorn and even Paul Tudor Jones as well as many others. These were all guys running big money who were ultinmately exposed as people who knew little about the true monetary and economic impact of policies that were being implemented at the time.

Anyway, now that I've written about gold and laughed at others I guess it's safe to buy it and I will look back on this and be appropriately shamed. Haha.

Seriously, though, I will wait for the Fed to raise rates and buy into the inevitable selloff that occurs in gold when that happens. You see, just as they got it wrong about QE being inflationary the same folks are going to get it wrong about rate hikes being deflationary.

Remember, the government is a net payer of interest so a hike in rates actually equates to a fiscal   injection. It's deficit spending or, at least, spending.