(Kitco News) - With rising uncertainty in the world surrounding bubbling stock markets, trade wars, and geopolitical tensions, it makes sense for many investors to be rushing to gold, said best-selling author Robert Kiyosaki.
Kiyosaki told Kitco News that he prefers to store his gold outside banks.
"I don't store [gold and silver] in the banks. I'm completely outside the banking system, except I do go to the banking system to borrow money. I don't save money inside the banking system, so my recommendation, much like my friend Jim Rickards', is we say you've got to be able to operate outside the banking system, in case something, heaven forbid, happens, like a black swan goofy event and they shut the banks down," Kiyosaki said.
He noted that banks can be shut down on occasion, especially by cyber attacks.
On the economy, Kiyosaki said that a correction is coming, and investors are responding accordingly.
Watch the full interview on Kitco News
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.