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Robert Kiyosaki: Gold is God's money. The government money is Fiat currency, the dollar, the yen, the euro. And then now we have people's money called crypto. So the Fed is under a lot of pressure because they're the real fakes. You know the Fed has destroyed the monetary system of the world along with essential banks. It has manipulated the market. In my opinion, they went criminal once they started just pumping working for basically Wall Street. So when I watch Wall Street, I've watched the price of stocks and I watch what the Fed is doing, I just got nauseas and I just buy more gold. They're smart people, but they're economists, 1000 economists. You know, I was asked by CNBC what I thought of artificial intelligence, and I ask ed for clarification. I said when you say artificial intelligence, are you talking about the Fed, you know, because they're not smart people. They don't know what's going.. They live in their own little bubble and they're out of touch with what's going on, on main street. In my opinion, the Fed is simply an instrument of Wall Street.

Daniela Cambone: So it it were up to you, there'd be no fed Robert?

Robert Kiyosaki: I don't know about that. You know, I just play it day by day today. I don't like to talk about things I can't control. What I can control is the amount of gold and silver I purchase. And also where I store it. I don't store it in banks. So 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 banlomg system. So my recommendation, much like my friend Jim Rickards, is we say better be able to operate outside the banking system, because in case something, heaven forbid happens like a Black Swan goofy event and they shut the banks down, which they do do at times, where there's a cyber attack on the banks, can you or your business operate outside the banking system? And that's how pessimistic I am. But I'm also an optimist, so I'm prepared for whatever happens.

(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

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.