Playing to Win - 047 - Robert Kiyosaki

00:00:00.280 for the 47th installment of the Playing to Win podcast series.

00:00:04.480 And I'm joined today by Robert Kiyosaki.

00:00:07.080 How are you doing, Robert?

00:00:08.560 Hello, hello, hello.

00:00:10.560 Welcome, welcome.

00:00:11.420 So I think I should, I mean, I would do a big intro

00:00:14.620 and normally read like a bio to everybody,

00:00:16.440 but I think they know who you are.

00:00:17.860 If you don't know who Robert is, just Google his name.

00:00:20.680 I mean, you'll figure it out by the end of the show.

00:00:24.700 So we've talked before, Yumi and Rolo,

00:00:28.620 and I don't know if I told you this,

00:00:31.420 but Rolo was the guy that basically red-pilled me

00:00:33.720 on relationships and what he calls a sexual marketplace.

00:00:37.200 And you happen to be the guy that red-pilled me

00:00:39.360 on money and finance.

00:00:43.680 I can't put my finger on when I read your book.

00:00:47.320 I believe if I'm not mistaken, I was at an airport at a layover

00:00:51.440 and I had about five hours between flights

00:00:53.300 and I just picked up your book at the airport bookstore.

00:00:57.480 And it was a bit of an eye-opener, you know,

00:01:00.940 because my entire life, you know, as a young man,

00:01:04.140 they always told you to, you know, go to school,

00:01:06.040 get good grades, take accounting courses,

00:01:08.520 learn business, blah, blah, blah.

00:01:11.500 And along comes this book called Rich Dad, Poor Dad,

00:01:14.060 where there's one dad that does it wrong

00:01:15.600 and one dad that does it right.

00:01:16.760 And the guy that does it wrong happens to be your dad.

00:01:18.680 And the guy that did it right was, you know,

00:01:20.180 the character that you created in the series.

00:01:22.620 How did you come up with that notion of the Rich Dad, Poor Dad concept?

00:01:27.920 Well, it's a true story.

00:01:29.840 When I was nine years old, I went to, we moved up,

00:01:33.480 I grew up in Hilo, Hawaii, which is the farthest city south,

00:01:37.160 19.5 latitude, North latitude.

00:01:40.280 And I moved from one part of town to another part of town.

00:01:43.040 My father was the head of education, Poor Dad.

00:01:44.980 And there were two schools side by side,

00:01:48.460 went right across the street from each other.

00:01:50.640 And one school was for rich white kids.

00:01:52.760 The other school was Union School, which was for immigrant kids.

00:01:57.340 And so, you know, Hawaii is a plantation state.

00:01:59.540 So kids came from all over the world, you know, Asia, China,

00:02:04.060 Portugal, Philippines.

00:02:06.660 So the kids I should have been with were at Union School,

00:02:10.140 were unionized.

00:02:11.220 And Riverside School was for rich white kids or primarily the rich kids

00:02:15.840 who are primarily Chinese, so Chinese and whites.

00:02:20.220 And I'm going to this little small school across the street

00:02:22.720 from where I should be going.

00:02:24.540 And the first thing I noticed, they all had nice bikes 0.99

00:02:27.120 and I had this old piece of shit $5 bike. 0.98

00:02:30.620 And I wanted to know at that point at nine, I said, you know, 0.99

00:02:33.420 how come some people are rich and how come some people are poor?

00:02:38.020 You know, you're nine years old, you want to know.

00:02:39.440 So I asked my schoolteacher, her name was Mrs. Baptiste.

00:02:43.580 She could have played the Wicked Witch of the North. 1.00

00:02:45.840 But anyway, she trashes me for, you know,

00:02:51.520 the love of money is the root of all evil and all that stuff.

00:02:54.660 Oh, here we go.

00:02:55.380 That's where it started.

00:02:56.820 Wait a minute.

00:02:57.640 Wait a minute.

00:02:58.200 Wait a minute.

00:02:58.780 You know?

00:02:59.780 And I said, it may be evil to you, but it's not evil to me.

00:03:04.200 And so I go to my poor dad and ask him the same question.

00:03:07.540 And I said, how come we don't learn about money at school?

00:03:11.340 And to me, it was a normal question.

00:03:12.820 And he said, well, we don't teach money at school.

00:03:15.000 And I said, that's strange.

00:03:16.780 So he says, but if you want to learn about money,

00:03:18.700 talk to your best friend's father.

00:03:20.160 And that was Mike's father.

00:03:23.080 And he was Chinese.

00:03:24.460 He never went to school.

00:03:26.260 And he never went to school because his father died.

00:03:29.700 And he had to take over the family store at 13.

00:03:33.400 So he got on-the-job training, if you know what I mean.

00:03:35.660 And so I asked my poor dad, the academic, I said, what's the difference?

00:03:45.520 He says, well, one guy's an entrepreneur, and I'm an employee.

00:03:48.720 And so I get more confused as a kid.

00:03:50.400 Well, what's the difference?

00:03:52.140 And he says, an entrepreneur must know about money, and employees don't.

00:03:57.560 And I just thought that was very, very strange.

00:04:00.000 But that's where the story started.

00:04:01.600 I said, I think I'll work for my rich dad for free in his hit restaurants and hotels and all this stuff.

00:04:08.240 And he would teach me, you work for free because if I pay you, you'll start programming yourself to think like an employee.

00:04:17.700 And his entrepreneurs don't work for money.

00:04:20.140 And I was getting more confused.

00:04:22.840 And so finally, he's teaching me playing Monopoly.

00:04:26.300 So I work for free, and he spends about an hour a week playing Monopoly with his son and me.

00:04:32.820 And so finally, I asked him, I said, why are we playing Monopoly?

00:04:36.260 And he said, well, because one of the greatest, there's millions of ways.

00:04:40.180 He says, there's a million ways you can go to a financial heaven.

00:04:42.440 There's different ways.

00:04:43.780 But one of the best ways is on Monopoly.

00:04:45.800 And I said, what's the formula?

00:04:47.900 He said, four greenhouses, 1031 taxid for exchange into a red hotel.

00:04:53.340 I went, what?

00:04:54.020 He says, it's right in front of you.

00:04:56.460 And this is a lesson for everybody.

00:04:58.060 Wealth is always right in front of you.

00:05:00.340 Sometimes you just can't see it.

00:05:02.540 So I was 19.

00:05:04.020 I got my 18.

00:05:04.900 I go to school in New York.

00:05:05.960 I got nominations to Naval Academy and to Merch Green Academy.

00:05:09.500 I took Merch Green Academy.

00:05:12.100 And when I came back from New York in 1966, I was, you know, what they call a fourth classman, a plebe.

00:05:19.940 Rich Dad had bought the red hotel.

00:05:21.460 So he went from greenhouses to red hotel.

00:05:24.060 So I'm observing him work, working his business plan.

00:05:27.340 That red hotel today is a Hyatt Regency on Waikiki Beach.

00:05:31.160 Okay.

00:05:32.120 Now, I thought I read somewhere that Rich Dad was a fictional character, but you said that he was actually your friend's dad, right?

00:05:39.180 Yeah, you got to be careful who you talk to, because, you know, like, when Rich Dad Poor Dad came out, I got trashed.

00:05:47.060 Yeah.

00:05:47.440 New York Times took me over the coals.

00:05:50.060 All the academic elite took me over the coals because they all want to believe that their college degree makes them Superman or Superwoman.

00:05:58.200 Right.

00:05:59.120 And you didn't have one.

00:06:00.440 Yeah.

00:06:00.700 You know, I'm glad I went to college, but I didn't, my college degree is in naval architecture and ocean transportation.

00:06:09.080 I've never used any of it.

00:06:10.640 Right.

00:06:11.200 Right.

00:06:11.620 What kind of student were you in, like, elementary school and high school?

00:06:14.560 Were you a good, like, an A student or just a...

00:06:17.300 You know, the thing that is, they always say Asians, you know, all the Asians are battling out in Harvard because there's too many Asians getting into Harvard. 1.00

00:06:25.980 Well, I didn't help that curve at all.

00:06:28.200 That was the bottom half.

00:06:29.960 Okay.

00:06:30.720 You know, you got to study.

00:06:31.800 I didn't study.

00:06:32.640 I played Monopoly.

00:06:33.740 And I still play Monopoly.

00:06:36.660 Well, you know, it's not a bad thing.

00:06:38.540 You know, I wasn't a great student either.

00:06:40.480 I mean, I was probably a C average student.

00:06:42.740 In fact, I, you know, I've told this story before.

00:06:44.700 It's probably been a while since I mentioned it.

00:06:45.940 But I, my grade 8 teacher couldn't handle me in the classroom.

00:06:49.800 I can't remember what her problem was.

00:06:51.040 But I ended up getting a desk in the vice principal's office for a week.

00:06:54.840 And pretty much for the entire week, he's lecturing me about, you know, if you study and you do everything right, one day you can be sitting at my desk and, you know, you'll be the vice principal of a public school like me.

00:07:05.200 And I don't know what he was getting paid at the time.

00:07:07.100 You know, nowhere near as much as what I make now, obviously.

00:07:10.760 Right.

00:07:10.940 But, you know, it's always funny when you get those academics.

00:07:14.200 There's a guy that I met at a conference that once said, don't let school get in the way of your education.

00:07:20.880 I guess that's something that you resonate with.

00:07:23.060 Yeah.

00:07:23.440 Yep.

00:07:23.860 Yep.

00:07:24.160 Yep.

00:07:25.500 And the funny thing is, is that because I know you like cars, right?

00:07:29.040 Oh, yeah.

00:07:29.660 So all my friends, McLarens were Ferraris.

00:07:33.160 And, um, we all have different, our grade point average on our license plate.

00:07:39.440 So mine was C plus and my other friend is C minus.

00:07:45.740 Yeah.

00:07:46.140 I've got some friends with plates like that.

00:07:47.760 I got a friend that's got one that says no degree.

00:07:50.540 Yeah.

00:07:51.060 Um, you know, stuff like that, but yeah, it's, it's, or no wife, you know? 0.90

00:07:55.300 Yeah.

00:07:55.540 But whatever, whatever seems to work.

00:07:57.520 Um, I'm, I'm actually curious about your, um, time in the military because I like, I'm

00:08:03.820 a big guy with military.

00:08:05.220 I've like, I, I've called this room bomber command.

00:08:07.820 You can't see this wall over here, but I have all these like pictures of like planes and

00:08:11.220 stuff.

00:08:11.520 And, um, you mentioned that you flew gunship helicopters in Vietnam.

00:08:15.660 What was that like?

00:08:16.460 That was a growing up time.

00:08:19.640 I I'll go back.

00:08:20.480 Cause I'm kind of a shamelessly plug my latest book coming up November 10th, Marine Corps birthday.

00:08:27.260 Okay.

00:08:27.780 It was called the capitalist manifesto.

00:08:30.420 It's how we can counter communism taught in schools by teaching capitalism in our homes.

00:08:38.460 And see, that's where I learned about capitalism.

00:08:40.840 I learned about capitalism at home, not at school.

00:08:43.840 I learned communism at school.

00:08:45.440 And my poor dad, good man, you know, my mother's a good person, but they never read the communist

00:08:50.020 manifesto.

00:08:51.040 They never studied Hitler and they never studied Mao.

00:08:54.320 So today we have absolute communism going through our academic system now.

00:08:58.520 And we wonder why we have, you know, I won't mention names because we're getting de-platformed.

00:09:04.380 But the media is now completely, as you know, on the dark side.

00:09:09.600 Yeah.

00:09:10.060 I'm fighting.

00:09:10.960 I am fighting for capitalism because capitalism is about freedom.

00:09:14.280 You can be a communist if you want, but don't take my freedom away.

00:09:18.320 Yeah.

00:09:18.700 I want to talk to you a little bit about the state of the world right now in this show.

00:09:22.600 And again, guys, I mean, if you're new to the series on the podcast, it's called playing

00:09:26.140 to win.

00:09:26.700 And there's two distinct ways that I see people play in life.

00:09:29.720 They either play to win or they play not to lose.

00:09:31.580 And they might sound similar, but playing to win is a very different approach to life

00:09:35.760 than playing not to lose.

00:09:36.820 Right.

00:09:37.100 So back to the helicopter gunship, because I want to get to that.

00:09:43.160 What did you fly and what was that like?

00:09:46.180 Well, make a short answer long.

00:09:49.560 I had a high paying job with Standard Oil when I graduated from Merchant Marine Academy.

00:09:54.360 So my classmates in 69 were making 120K a year, which is pretty good back then.

00:10:00.480 And Marine gunship powers making 200 a month.

00:10:05.120 And so it was a tough decision, you know, Rich.

00:10:07.400 I said, well, and I had my instructor was a B-17 pilot in World War II.

00:10:12.440 And I sat down with him.

00:10:14.580 I said, I got this high paying job with Standard Oil.

00:10:17.360 And you talked about flying bombers, B-17s against Germany in World War II.

00:10:23.320 He got shot down twice, captured once.

00:10:26.900 And, you know, otherwise, what was that like?

00:10:29.560 He says, the best experience of his life.

00:10:32.480 Sorry, Robert, just give me one sec.

00:10:33.540 My cleaner's asking me a question.

00:10:35.000 Sorry, I'm just on a call.

00:10:36.220 You can't disturb me right now.

00:10:37.900 No, no, keep the vacuum off.

00:10:39.140 Thanks.

00:10:41.320 Sorry about that.

00:10:42.060 And I'll say, anyway, my English teacher says it was the best experience of his life.

00:10:47.820 So here I'm 24 years old.

00:10:49.840 I have this high paying job with Standard Oil.

00:10:52.040 And I look in this guy's eyes and I got the message.

00:10:55.960 Go for it. 1.00

00:10:57.220 So I freaking joined the Marine Corps to go fight, which proves how stupid I am. 1.00

00:11:02.880 But I figured if I was going to go to war, I want to go to war with guys who like to kill. 1.00

00:11:08.460 I didn't want to go with the Coast Guard.

00:11:10.280 They like to save lives. 1.00

00:11:11.180 I want to kill people. 1.00

00:11:12.460 Right, right. 1.00

00:11:12.960 So I wind up at Pensacola.

00:11:15.340 And then I said, I was going to fly the C-130, you know, the prop plane, 400 prop.

00:11:20.160 That's the Hercules with the gun set up where it banks and it kind of loiters in circles.

00:11:25.880 Yeah.

00:11:26.320 Yeah.

00:11:26.480 Yeah.

00:11:26.560 Okay.

00:11:26.660 So it was also Puff the Magic Dragon, you know, the gunship went overhead.

00:11:31.780 Right.

00:11:31.960 That's what I wanted to fly. 0.97

00:11:32.960 Just hammer them with electric guns. 0.95

00:11:34.820 Okay.

00:11:35.200 Anyway, so I do a flight on a C-130 and I said, this is the wrong plane for me, you know, because I can't stay away.

00:11:43.420 It's like sitting in a classroom for 10 hours.

00:11:45.520 Okay. 1.00

00:11:46.200 So it's damn C-130s. 0.99

00:11:47.640 I said, so I asked my monitor, like my career counselor, I was at Pensacola, I said, what's the fastest way to Vietnam? 0.99

00:11:54.820 He says, gunships.

00:11:56.300 I said, why is that?

00:11:57.400 He says, life expectancy, 30 days.

00:11:59.720 And that's how I wound up on gunships flying off a carrier in Vietnam.

00:12:05.100 So gunship helicopters, like what did you fly?

00:12:07.160 Was it Cobras?

00:12:08.060 Was it Hueys?

00:12:08.940 Both.

00:12:09.780 Both, eh?

00:12:10.720 Yeah.

00:12:11.160 Wow.

00:12:11.540 We're interchangeable.

00:12:12.980 The gunship I liked the best was a Huey because I had gunners on board.

00:12:19.700 Yeah.

00:12:20.340 And, you know, these guys were like kids, 19 years old.

00:12:23.220 They knew no fear.

00:12:26.300 So all you had to do was get the gunner there and just let him do his thing, huh?

00:12:30.220 Yeah.

00:12:30.560 We just have, and it wasn't a good time.

00:12:32.680 There was a lot of tremendous sadness, you know, when gunships don't come, your friends don't come back.

00:12:37.060 You know what I mean?

00:12:38.120 You sit there waiting on the carrier and they say they're not coming back.

00:12:41.700 So I went to the whaling wall in Vietnam, I mean, Washington, D.C.

00:12:45.980 And there's my classmates' names up there.

00:12:48.900 Yeah.

00:12:49.260 Yeah, I've seen that wall.

00:12:50.960 It's a big wall with lots of names.

00:12:53.920 Would you recommend the military to young men today?

00:12:58.060 I'm glad you asked that question because you and Rollo have helped me so, so much.

00:13:03.740 I mean, the reason I'm on this program is to say thank you to you and Rollo.

00:13:06.840 Thank you.

00:13:07.500 For sure.

00:13:07.720 Because what happened to me was, you know, I don't think I was alpha, but I was a Marine pilot. 1.00

00:13:12.720 I was pretty much an asshole. 0.99

00:13:14.340 And then I got married to a great woman, still married to her, but I turned into a big fat beta. 1.00

00:13:19.260 And I was a very happily married man.

00:13:21.740 I never cheated on my wife and all that.

00:13:23.420 And I realized that was a big mistake.

00:13:25.540 Not cheating.

00:13:26.960 I mean, you know, I don't cheat, even on my taxes.

00:13:30.020 I pay no taxes, but I don't cheat.

00:13:31.960 But anyway, I became a big fat beta.

00:13:36.320 Yeah.

00:13:36.820 And so when my wife left me, as you guys talk about, what, 80% are initiated by the woman?

00:13:41.520 Correct.

00:13:42.140 And it was like taking a shotgun blast right on the chest because I love her so much.

00:13:46.600 And then, so my friend George Gammon gave me Rollo's book.

00:13:49.960 And then he told me to watch you on, because he drives a McLaren like you do.

00:13:56.220 And so I'm watching you guys.

00:13:57.720 You guys are onto it.

00:13:58.980 I mean, you guys have a message that's worth talking about.

00:14:02.260 Because as you guys say, testosterone levels are going down.

00:14:06.420 And as a Marine, you know, I'm not LBGT.

00:14:09.360 I'm a man.

00:14:10.040 I like women. 1.00

00:14:11.020 If you want to have sex with a man, that's your private property. 0.99

00:14:14.200 It's not mine. 1.00

00:14:14.720 I don't give a shit. 0.98

00:14:16.040 But what you guys talk about is essential. 0.99

00:14:19.680 And, you know, I asked to come on your program just to validate what you're saying.

00:14:25.020 We have too many guys who aren't men anymore.

00:14:27.340 There's no money.

00:14:28.060 They have no money, no sex, no power.

00:14:30.100 Yeah.

00:14:30.300 No money, no sex, no power. 0.84

00:14:32.320 Yeah.

00:14:33.200 Tragedy.

00:14:33.920 Money, sex, power.

00:14:34.700 Yeah, let's cover that too.

00:14:37.080 But I want to go back to the question about would you recommend the military to men today?

00:14:41.280 Because, I mean, the military today is a lot different than the military that you joined back in the day.

00:14:45.860 Yeah, they now have, you know, Black Lives Matter training and all that stuff inside of it.

00:14:52.120 There's a Victor Davis Hanson.

00:14:54.320 You know, he did a thing about Patton.

00:14:56.700 I think it's for Hillsdale College.

00:14:59.180 And people should study Patton because that guy was a wild man.

00:15:02.760 And, but he got pounded because Eisenhower and those guys were kind of, my, my, one of my best friends, the three star general Marine, you know, and he, and he fought, does a storm.

00:15:14.960 He fought in Vietnam.

00:15:15.620 He did all this.

00:15:16.380 He says, but too many generals today are bunker bunnies.

00:15:19.500 You know, they don't go on the front line.

00:15:22.460 And Patton was a front line guy.

00:15:25.380 And so the difference in mindset.

00:15:27.220 So against Victor Davis Hanson, he talks about George Patton.

00:15:31.200 And I think every man should listen to Patton.

00:15:33.940 What, what Patton was like.

00:15:35.960 Is there a, um, is there a piece of material that you'd recommend most?

00:15:39.060 Is there a book?

00:15:39.640 Is there a documentary or anything or?

00:15:41.500 No, it's, it's Victor Davis Hanson on YouTube.

00:15:44.200 He spoke to Hillsdale college.

00:15:46.060 Okay.

00:15:46.600 But he did his whole, um, report on Patton.

00:15:50.160 And Patton was kind of my hero too, because like I said, he, he was gonna, he wanted to take on Russia. 0.74

00:15:57.540 And Eisenhower and the boys, they wanted to take him, take Russia. 0.56

00:16:00.900 You know, Patton, all they remember Patton for was slapping those people in the hospital, which he should have done. 0.51

00:16:05.920 But he was a rich guy.

00:16:09.500 He's kind of like a Trump, even the same, same kind of energy.

00:16:15.540 So it's not, not whether you're rich or poor, it's just spirit to come out with.

00:16:19.080 So Patton was kind of my hero.

00:16:21.320 My aunt, my aunt, um, was the prima ballerina of Paris.

00:16:26.040 And she fought for the French underground.

00:16:27.880 So when I was at school in New York at King's Point, she used to talk to me about Patton also.

00:16:33.420 The guy was a real stud.

00:16:34.580 But, but the, but the political generals like Eisenhower and those guys, you know, they got the glory, but the guys like Patton are on the front line and I'd rather be on the front line.

00:16:46.020 So that's the long answer to the military.

00:16:48.660 I am glad I went.

00:16:51.020 I am really, really glad, but not everybody should go.

00:16:54.020 Yeah.

00:16:54.700 I'm, I'm not, um, I mean, uh, I have guys that, that have been in the military that are, that are asking questions about, you know,

00:17:03.820 or do you think it's a good place to spend some time?

00:17:05.500 And I think it, I mean, I see the value in the discipline and I see the value in the camaraderie and I see the value in, um, you know,

00:17:14.980 the grit that I suppose that every guy should still be learning there.

00:17:19.240 But, um, there's just a lot, like I've got a guy that I was coaching a couple of years ago that was a naval officer.

00:17:24.980 And he was telling me all these stories of all the political nonsense that he was dealing with on the boat and female officers and the drama.

00:17:32.400 And it's just like all this stuff back and forth.

00:17:34.220 And it's like, you know, he's on a trajectory to go start his own business and the military doesn't offer him anything that would be useful to his future.

00:17:43.860 So, I mean, we put a plan together to basically, you know, put an exit strategy out because I mean, when the writing's on the wall and you see it, then it's just like, okay, you know, enough's enough.

00:17:52.620 We have to accept this and surrender that this is the environment that we're in today.

00:17:55.600 We're not going to change it by protesting or complaining to a, uh, a CO, right.

00:18:00.420 Um, well, you saw what happened in Afghanistan, right?

00:18:04.740 Yeah.

00:18:04.980 Yeah.

00:18:05.160 Yeah.

00:18:05.320 They just, that was absolute treason.

00:18:07.860 And the guy they put in jail is that Marine Lieutenant Colonel who criticized the Joint Chiefs of Staff.

00:18:14.360 Yeah.

00:18:14.740 They should put the Joint Chiefs of Staff and Biden in jail for what happened in Afghanistan.

00:18:19.540 That was treason.

00:18:20.460 Yeah.

00:18:20.860 But they put this Marine Lieutenant Colonel in jail.

00:18:23.900 What is wrong with this country?

00:18:26.060 Yeah, that was, um, I don't know how many years that war was, but it's like, they basically spent all that time and money in Afghanistan and all these men lost their lives to basically replace the Taliban with the Taliban.

00:18:37.860 That's, that's what they ended up with.

00:18:39.980 Um, but what are you going to do?

00:18:41.940 Um, yeah, the military is a interesting conversation these days, especially, you know, with the topics around, uh, Russia and China and what's going on between, you know, China and Taiwan right now.

00:18:51.920 And, uh, you know how that's going to affect things here.

00:18:54.160 Let me ask you, you know, to kind of predict, like, how do you think the next five or 10 years is going to unfold with America, you know, with this Chinese Taiwan, Russia sort of collusion, blah, blah, blah.

00:19:04.020 Like you hear all these narratives and I know that you've been around a lot longer and you kind of see the code in the matrix, you know, when it comes to politics and the economy.

00:19:11.160 So I just wanted to ask you your view on that.

00:19:13.660 I think it's a coverup.

00:19:15.960 I think that's like, you know, it's like the way it's like the magician, they wave the flag here, but they're shuffling stuff around here.

00:19:22.060 So I think a lot of this saber rattling, which I mean, China is a formidable foe, but they're business partners. 0.72

00:19:29.020 Do you know what I mean?

00:19:29.600 They need us as much as we need them economically.

00:19:32.560 It's the same as what's going on with the Fed.

00:19:34.700 The Fed has got no power.

00:19:36.640 There's a shadow, the European shadow bank system.

00:19:39.660 It's got more power, but the Fed issues is, you know, they call it for it. 0.96

00:19:44.380 You know, you watch CNBC and I sit there watching that garbage.

00:19:48.020 You know, they say, well, you know, the Fed's going to do this, Fed's going to do that. 0.96

00:19:50.840 The Fed's got no power.

00:19:52.820 But what they're trying to get us to believe is that there's inflation.

00:19:56.460 It's really what's happening is we're in depression.

00:19:59.660 And the same things in China with this COVID thing.

00:20:02.920 I was writing another book on September 17th, 2019, when the repo market collapsed. 0.99

00:20:09.580 I went, holy shit. 0.92

00:20:10.860 The last time that happened was 2007 and then 2008 came. 0.98

00:20:15.460 And so I knew something was wrong and then COVID appeared.

00:20:18.120 So I'm being, you know, I talk about gold, silver, Bitcoin, not because I'm a gold, silver, Bitcoin fan.

00:20:26.720 I just don't trust the Fed, the Treasury and Wall Street.

00:20:31.240 You know what I mean?

00:20:31.780 I don't trust them.

00:20:33.180 Yeah.

00:20:33.580 I buy stuff that's outside their system.

00:20:36.640 Yeah.

00:20:36.820 And that's great advice that I've been, you know, talking about for years now.

00:20:40.880 I've been, I mean, I wish I got in earlier.

00:20:43.320 It was around 2012 or 2013.

00:20:44.640 I was talking to my friend about, you know, what he was up to.

00:20:47.200 And he said, I'm going all in on this cryptocurrency thing and Bitcoin. 0.95

00:20:50.000 I'm like, you're crazy.

00:20:50.840 You know, the banks are going to try to shut it down. 0.66

00:20:52.440 They're not going to let something like this take off.

00:20:54.040 It's not happening.

00:20:54.740 He's like, no, you know, you watch and see.

00:20:56.920 And, you know, he started in 2012, 13.

00:20:59.360 You know, I got in 2017, so I was a few years later than he was.

00:21:02.560 But it's still very early.

00:21:04.420 I mean, like, you know, speaking of cryptocurrency and Bitcoin and gold and silver, like, do you

00:21:10.660 think that has legs? 0.55

00:21:11.920 Like, do you think that's something that's going to, you know, still be around in 10 or

00:21:16.020 15 years?

00:21:17.520 No, I think people should pay attention.

00:21:19.560 That's why I love YouTube, you know, because I get real teachers and a lot of them are fakes.

00:21:24.980 But when you find the real guys, like this guy Jim Records is a friend of mine.

00:21:29.760 He was a long-term capital management and all this stuff.

00:21:32.740 I was just with Ron Paul in Dallas last week and all this.

00:21:36.620 But this is the enemy here.

00:21:38.400 This is $10.

00:21:40.240 It says $10 billion.

00:21:44.640 Where's that from?

00:21:45.480 From which country?

00:21:46.960 Zimbabwe.

00:21:47.560 Zimbabwe, okay. 0.96

00:21:48.200 I want people to see this because this is the future of the dollar.

00:21:53.080 If you understand that, that's why they have been paying people not to work.

00:21:57.940 That's why COVID is going around.

00:21:59.580 And I've had COVID.

00:22:00.840 It's real.

00:22:01.140 It's not that bad.

00:22:02.620 But I think it's a distraction from the debt.

00:22:05.940 It just printed $10 trillion to prevent the economy from collapsing.

00:22:11.060 So the reason I recommend gold, silver, Bitcoin, and YouTube and listening to guys like you and Gammon and all this stuff, you've got to have people who are playing with the cards and you can see their cards.

00:22:24.620 Most of these guys, like they just caught the Fed for insider trading.

00:22:30.000 I mean, these guys are PhDs like my poor dad.

00:22:32.920 They're insider trading.

00:22:34.000 They're supposed to be protecting us.

00:22:36.080 Give me a break.

00:22:37.100 And so that's why when I was in Vietnam in 72, you know, Nixon took the dollar off the gold standard in 71.

00:22:44.520 Yeah.

00:22:45.180 And being a Marine, not the brightest, my co-pilot and I flew behind enemy lines looking for gold.

00:22:51.220 We found this little thing that's a gold mine on the map of Vietnam.

00:22:54.520 One big problem is the NVA had overrun it.

00:22:57.680 So it was now in enemy hands.

00:22:59.080 But proving Marines have no brains, we figured we could get in and out fast enough without them catching us. 0.99

00:23:07.560 How did that work out?

00:23:09.360 So, Rich, I bought my first ounce of gold in 1972.

00:23:14.340 It was about six months after Nixon took the dollar off the gold standard.

00:23:18.280 I still have that.

00:23:19.020 I still have that.

00:23:20.140 It's a Krugerrand. 0.92

00:23:21.460 How much was gold in 1972?

00:23:23.800 How much?

00:23:24.040 How much?

00:23:25.660 50 bucks?

00:23:26.720 Yeah.

00:23:26.900 It was at 35 and floated to 50.

00:23:30.160 But my point here is this, you've got to be aware.

00:23:34.560 There's no answer.

00:23:35.700 Just pay attention.

00:23:38.680 That's why I want to iterate.

00:23:41.040 I came on, I wanted to come on your program because what you say is priceless.

00:23:44.960 What you and Rollo are teaching is priceless.

00:23:47.380 Yeah.

00:23:47.500 I want to ask you a question about your number one rule.

00:23:50.340 But before I do that, you know, I often tell guys like you have to be careful who you listen to out there and who you take advice from.

00:23:59.100 And a couple of things I always ask them to look at is would you trade places with that person, number one?

00:24:03.700 Number two, somebody can only take you as far as they've come, right?

00:24:07.300 So if you're, I mean, if you're listening to some guy that has the same upload button that I do, that you do, that Gammon does, that Rollo does, for example, that really haven't come very far in their life and have done nothing, should you be listening to them?

00:24:18.680 So, I mean, like, how do you generally vet for information sources?

00:24:24.040 Like, what do you do to ensure that you really want to listen to this person?

00:24:27.480 Like, I mean, how did you decide to listen to me?

00:24:29.180 Like, why would you say, well, I'm going to listen to this bald bearded guy up in Canada that's talking about this, that, and the other thing, because my friend Gammon recommended it.

00:24:35.480 Like, why did you decide to do that?

00:24:37.900 Well, because I trust Gammon.

00:24:39.660 Right.

00:24:40.260 I mean, he shares an office building with me.

00:24:43.800 Okay. 0.71

00:24:44.000 And, you know, we're just in Texas together, you know, and our whole thing is, my new little program that you came on was Sex, Money, Power, because we all want, you know, when I was in high school, I wanted sex, I wanted money, I wanted power. 0.54

00:24:59.180 And they don't teach that in school. 0.72

00:25:01.080 So that's, that's why I listen to George, I listen to guys like you and all this.

00:25:05.620 And then exactly as you guys say, the testosterone level is going down and the women are getting desperate. 1.00

00:25:14.400 And I, I laughed because I had Nicole, Dr. Nicole on to talk to you and Rallo, because she's the woman going up, you know, she went through epiphany and she says, I better do something myself.

00:25:25.780 So she's a rich young woman. 1.00

00:25:27.520 Yeah.

00:25:27.660 And I meet a lot of these rich young women, but they all hate you and Rallo. 1.00

00:25:33.200 They don't hate us.

00:25:34.700 What they, what they don't like is the message that we provide because it doesn't necessarily serve them.

00:25:40.820 Hey, Rich.

00:25:42.520 It's every time I, every time I send one of your tapes or videos or Rallo's, I get these women who want to challenge you. 1.00

00:25:50.160 And I'm going, why, ladies, I have, ladies, if you want to challenge me, I have a show on Monday night.

00:25:56.740 It's 8 p.m. Eastern Standard Time.

00:25:58.400 It's called the Unplugged Alpha.

00:25:59.680 If you have a better solution to something I've addressed, please feel free to call in and I'll put you on and, you know, we can chop it up live.

00:26:05.540 Please, you know, please do.

00:26:06.420 But that, but that's, that's why you guys crack me up is because, you know, I take on the Fed, I take on the Treasury, I take on schools.

00:26:14.160 You guys take on women. 0.98

00:26:15.360 You got, you got more guts than me.

00:26:19.080 Actually, actually, actually, believe it or not, Rallo, the, the, the, the toughest guys to deal with are the plugged in beta males that are, that are unwilling to see the truth.

00:26:28.520 You know, they just want to keep doing what they've always done and they always keep getting what they've always gotten, which is unfortunate.

00:26:34.040 Well, what you guys talk about is, I mean, it's not male or female.

00:26:37.460 It's really about sex, money, power.

00:26:40.260 Yeah.

00:26:40.380 When you think about it, and so a lot of times women are now gaining more money and power, but what they lose is what you guys call hypergamy, is they get more powerful, but there's fewer men. 1.00

00:26:52.120 Right.

00:26:53.000 And boy, that pisses them off.

00:26:54.920 Yeah, it's, it's a tough thing for women. 1.00

00:26:56.920 And, you know, we can talk about this for a couple minutes too, but, but I was actually going to put a video on this and we can talk about this briefly, but you get a woman that gets about 40 years old. 1.00

00:27:04.960 Who's, who's, who's chase excellence all her life.

00:27:06.960 She's got a bunch of degrees on the wall framed in mahogany with little, you know, letters after her name and, and she's done something with her life and she's now become wealthy. 0.86

00:27:15.560 And then she looks at the dating pool and she says, all right, well, let's find a guy.

00:27:19.320 Well, women are hypergamous. 1.00

00:27:21.120 So that means they date up and across.

00:27:22.680 That means that she has to find somebody that's at her level or better.

00:27:25.760 She's obviously going to prefer better.

00:27:27.260 And then the problem after that now is, okay, so now you've shrunk the pool dramatically.

00:27:32.040 And the problem after that is a lot of the guys that are in that age bracket that she's looking around her age are dating younger women.

00:27:37.420 And then they get upset that they're, that they're having difficulty finding a good candidate to, you know, get into a relationship or start a family with or whatever.

00:27:46.600 It is what it is.

00:27:47.520 But yeah, I wanted to ask you about your number one rule, which was, you must learn the difference between an asset and a liability and buy assets.

00:27:56.860 Can you talk about that a little bit?

00:27:59.120 Yeah.

00:27:59.380 Well, when I wrote Rich Dad Porta in 97, it came out.

00:28:02.620 It had to be self-published because I said three things.

00:28:06.120 The rich don't work for money. 0.99

00:28:08.380 Savers are losers. 0.97

00:28:09.280 Savers are losers and your house is not an asset. 0.99

00:28:13.340 And it all goes down to a financial statement. 0.98

00:28:16.560 I have one right here.

00:28:21.060 This is the financial statement from my board game.

00:28:23.580 So this is income.

00:28:25.820 It's called a P&L.

00:28:27.440 Is that the cash flow board game?

00:28:29.020 And this is called a balance sheet.

00:28:30.740 Yeah.

00:28:31.160 And this is called the statement of cash flow.

00:28:34.900 And that's all Rich Dad is.

00:28:37.360 It's a book on accounting.

00:28:39.280 So everybody calls our house an asset.

00:28:43.200 But if so, but it's a liability because the cash flows out of the expense column.

00:28:49.080 If I have an asset, like I have apartment houses, it flows into my income column.

00:28:55.580 So assets flow money into your income column.

00:28:58.600 Liabilities take money from you.

00:29:00.940 It's that simple.

00:29:02.360 So this is what your banker wants to see.

00:29:04.300 Because I go and I borrowed $30 million three weeks ago for a project in Austin, Texas.

00:29:10.060 The average guy cannot borrow $30 million.

00:29:12.600 But the way you borrow $30 million, you've got to walk in with one of these things.

00:29:17.860 It's called a financial statement.

00:29:19.080 And I sat down and said, you see all these assets over here?

00:29:22.420 I got $10,000.

00:29:23.500 You know, I pay no taxes.

00:29:27.200 And I make this a month.

00:29:29.880 It's exactly everything you say.

00:29:33.120 Just stepped up a bit.

00:29:34.900 So, you know, this is from my cash flow board game.

00:29:40.780 And it's what you guys say also, you know, chase excellence.

00:29:44.060 Don't chase women. 1.00

00:29:45.500 I chase this shit here. 1.00

00:29:47.600 Right. 1.00

00:29:48.000 I have so many freaking assets.

00:29:50.540 And it's a habit.

00:29:52.960 You know, I just put deals together.

00:29:55.060 I've been doing it since I was 10 years old.

00:29:56.820 What do you think of the interviews with Michael Saylor where he basically describes Bitcoin like digital real estate?

00:30:06.080 Do you think that Bitcoin is digital real estate?

00:30:08.740 Is it the equivalent of like a building with rental income?

00:30:13.620 I mean, because you can stake Bitcoin.

00:30:15.160 It can earn you interest.

00:30:16.440 And it is generally going to appreciate in value the way that it's been designed.

00:30:21.080 Yeah.

00:30:21.440 Just let me explain to me.

00:30:22.660 You know, this here, the Zim dollar or the U.S. dollar doesn't make any difference. 0.93

00:30:27.220 The counterparty risk is the government of Zimbabwe.

00:30:31.320 And the reason I recommend gold silver Bitcoin is because the U.S. dollar, this is a U.S. dollar.

00:30:38.300 The counterparty risk is the Fed, the Treasury, and Wall Street.

00:30:42.560 Yes, I trust Bitcoin more than I trust Biden.

00:30:47.460 If you can get to that level of intelligence, you got it.

00:30:50.920 I'm a Marine.

00:30:52.160 I trust this pad more than I trust government.

00:30:55.440 That's what I'm saying.

00:30:57.440 It's that simple.

00:30:59.060 Keep it simple.

00:30:59.840 You know what I mean?

00:31:00.360 Yeah.

00:31:01.160 So do I like Bitcoin?

00:31:03.380 Yeah, because I bought it at $6,000.

00:31:05.980 Would I buy it today?

00:31:07.440 Maybe not.

00:31:09.240 Do you know what I mean?

00:31:09.680 And all these guys, you know, I've been around long enough.

00:31:14.000 When somebody is telling me it's going to $1.5 million, you know, Bitcoin is, I've got to be careful.

00:31:21.920 That's like when a stock comes up.

00:31:23.400 Oh, yeah, yeah, yeah.

00:31:24.260 You know, like Tesla is now, what, $1,000 a share or something.

00:31:29.680 Well, do you think Bitcoin will displace gold as a store of value?

00:31:34.140 What's that?

00:31:34.440 Because, I mean, do you think Bitcoin will displace gold as a store of value?

00:31:37.640 Because gold's worth about $10 trillion on the market, I think, is a market cap.

00:31:41.820 And Bitcoin, if I'm not mistaken, is just over a trillion.

00:31:44.140 So basically 10xing Bitcoin brings it up to $600,000.

00:31:47.380 My concern is, Rich, and this, I'll be up front because the Bitcoin guys will trash me for this one.

00:31:53.360 But there's all this new technology coming out.

00:31:57.240 And Bitcoin might be old technology.

00:32:00.060 I'm not saying it is or not.

00:32:01.720 I'm just saying as a skeptic, as a professional investor, I've got to watch all sides of it.

00:32:07.580 Got it.

00:32:08.380 And where gold and silver, gold is, I call gold and silver God's money because they're part of the element with the periodic table.

00:32:17.380 You know, they're part of God.

00:32:20.440 I'm not religious, but I'm saying, and I've started gold mines and silver mines, took them public in Toronto.

00:32:27.380 I hang out in, you know, Vancouver, where all the crooks of the world hang out in the resource industry.

00:32:33.920 So I love Canada, you know, because every Frito Bandito hangs out in Vancouver. 0.99

00:32:39.600 I've heard every bullshit story possible. 0.98

00:32:42.040 But that's why I like the game, you know. 0.99

00:32:44.640 I love it. 1.00

00:32:45.620 But if you're going to be so stupid to take my word for it, then that's your problem. 1.00

00:32:50.360 You know, if I told you right now Bitcoin is $6,000, how many people would buy it? 1.00

00:32:55.800 Well, everybody would.

00:32:57.260 Right.

00:32:57.660 But at the time, it was frightening because it went from 20, dropped, almost went off the chart to zero.

00:33:05.040 It stabilized at three.

00:33:06.900 I watched it there.

00:33:08.160 It hit six and I bought 65 Bitcoin because I don't trust the dollar.

00:33:15.380 If you can understand that.

00:33:16.760 That was a good move.

00:33:17.860 I don't trust the treasury and I don't trust Biden.

00:33:21.160 So I buy Bitcoin.

00:33:22.840 Let me throw the super chat up here on the screen.

00:33:24.400 So advice for men pursuing an anti-fragile life.

00:33:27.480 Do you have any advice for men on that?

00:33:32.940 Oh, for them?

00:33:34.100 Yeah.

00:33:34.900 Listen to you.

00:33:35.780 I mean, Rich, the only reason I'm on here now is when you talked about stop chasing women, start chasing excellence.

00:33:42.040 My question, I took it to heart.

00:33:44.700 I want to say, what does chasing excellence mean?

00:33:46.900 Because excellence is a word.

00:33:49.540 And everybody, and words are cheap.

00:33:51.020 You know what I mean?

00:33:51.600 I could put God, Jesus, diet, exercise. 1.00

00:33:55.180 People don't do shit. 0.99

00:33:57.360 You know, so I have this diagram here. 0.99

00:33:59.960 And these are your four intelligences.

00:34:01.680 You have mental, emotional, physical, spiritual.

00:34:07.080 So if you're chasing excellence, chase it in all four.

00:34:10.160 I agree.

00:34:11.200 Do you know what I mean?

00:34:11.700 But a lot of times people, oh, yeah, yeah.

00:34:13.940 You know, I'm an excellent person.

00:34:16.060 Give me a break.

00:34:17.100 What are you doing that's excellent?

00:34:20.100 So the stuff I want to acknowledge you for is I hear you're chasing excellence every time I'm in the gym and I want to quit.

00:34:28.600 You know, at that moment, I say, go two more.

00:34:33.340 You know, and emotionally, every morning, I don't want to go to the gym.

00:34:37.840 Every morning, I get up and say, oh, I want to stay in bed. 0.99

00:34:40.180 I'm going to suck a coffee down. 0.60

00:34:41.500 I'm going to have another beer or something.

00:34:44.760 You know, and it's called EQ, emotional intelligence.

00:34:48.640 The most important.

00:34:49.780 And so the thing I love about what you and Raul talked about was can I chase excellence in everything I do?

00:34:57.800 And it's actually made me a better human being because I'm kind of a grump.

00:35:01.860 And I go in, you know, people stop me on the street constantly.

00:35:05.880 Oh, thank you for writing your books, you know, and I do my best to be the best person at that moment with that person.

00:35:13.480 I don't even know them.

00:35:14.660 But chasing excellence is, to me, more physical.

00:35:18.480 I have here, I'm going to drop this real quick.

00:35:22.540 And it's the last video that I just uploaded in my channel.

00:35:25.380 You guys can watch this later.

00:35:26.360 It's just a short.

00:35:27.140 It's 59 seconds long.

00:35:28.860 But it's the definition of what a top shelf man is.

00:35:31.420 Basically, the top 5% of men possess these traits, which is what I would define as chasing excellence is going to get you to arrive at.

00:35:38.640 So watch that later when you have 59 seconds, Rob.

00:35:41.740 I know you're busy, but the other super chat I got here, let me throw this up real quick, from Chris, $200, says,

00:35:47.960 Priceless guest, thanks for bringing, and dude, thanks for the donation too.

00:35:51.860 Thanks for bringing unplugged successful men onto the showing, willing to share their lives and lesson.

00:35:56.500 Thanks, Chris.

00:35:56.960 Appreciate that.

00:35:58.280 No question.

00:35:59.520 Aside from that, let's see what else we've got here.

00:36:02.020 And the competent man has one for us.

00:36:03.900 What do you think of labor product and energy problems?

00:36:06.440 It's like the government are deliberately running things into the ground.

00:36:11.540 I tend to agree with that.

00:36:13.420 But again, as we say about chasing excellence, have a mission, have a purpose.

00:36:18.300 Have a purpose, yeah.

00:36:19.500 Put a little dents in the universe.

00:36:21.160 Make a name for yourself.

00:36:22.260 Correct.

00:36:22.720 And that was the first word I learned at the Academy in New York is what's the mission?

00:36:27.600 And so when I started a business, it's what's the mission?

00:36:31.240 And the more I chase mission versus money, I'm more successful.

00:36:37.080 Yeah.

00:36:37.600 So what, like I said, I'm on your program to acknowledge you guys for being forthright.

00:36:45.400 You know, I appreciate what you guys have helped me a lot.

00:36:48.900 You and Rallo.

00:36:50.320 Can we talk about the whole betatization through a thousand conceptions process that you went

00:36:57.360 through with your marriage?

00:36:58.060 Because I mean, like you've been pretty open about it.

00:37:00.180 I mean, you called yourself a big fat beta and, you know, you loved your wife to death.

00:37:04.500 You didn't do anything outside of the marriage.

00:37:06.220 And it just kind of, you know, the knot sort of untied itself over time.

00:37:10.560 And you mentioned that that was because of, I mean, I don't want to put words in your

00:37:15.300 mouth, but it, but it sounds like it's because you kind of relaxed in the marriage, right?

00:37:18.600 Like, did you go through betatization through a thousand concessions?

00:37:21.860 Yes.

00:37:22.380 It was, I was, I'm a, I'm still in love with my wife.

00:37:24.940 I'm very happily married.

00:37:26.780 And I was, I was building a feather nest, if you know what I mean.

00:37:30.880 And then one day, exactly as you guys say, she says about four years ago, she says, I'm

00:37:34.700 out of here.

00:37:35.240 And it's not, it's not, not cheating her that counted it's I stopped chasing excellence.

00:37:42.540 She never did.

00:37:44.720 So what I'm saying to you, Rich, is what you guys talk about.

00:37:47.840 So I, I was pushing, you know, double XL polo shirts and 40 inch waist and I'm a Marine. 1.00

00:37:54.480 You don't do that shit. 0.99

00:37:56.420 And so today I'm down to a 32 inch waist and a 40 inch chest. 1.00

00:38:00.220 I'm in the stacks, like you say, five days a week now, and I'm making more money.

00:38:04.460 I'm working harder.

00:38:05.800 I'm, I'm focusing on this here is what can I do that makes me more excellent.

00:38:13.040 And when I do the rest falls in place, a lot of people, oh yeah, I'm, you know, they, I'm,

00:38:20.240 I'm going to go on a diet.

00:38:21.320 I'm going to go work out, you know, or anything.

00:38:23.860 And the reason is emotionally it gets in the way.

00:38:26.840 And I get up this morning, I go, I don't want to go to the gym.

00:38:29.760 I don't want to, you know, we had Dr. 1.00

00:38:31.380 Nicole along with me who, who detoxed me that detox is a killer because all my addictions

00:38:37.200 come up, you know, my, like, like drinking and eating, but unless she was there, unless

00:38:43.740 I was willing to do it, you know, go through the 21 day process of her detoxifying my organs.

00:38:50.120 I still be a fat beta male, but what came up immediately is headaches, pain, misery.

00:38:56.180 I hated it. 0.73

00:38:57.080 I wanted to eat.

00:38:57.780 I wanted to drink and all this and not go to the gym.

00:39:01.740 So every time I'm in the gym, I hear your words, you know, chase excellence.

00:39:06.980 What do you have to say to the guys out there that, um, I mean, I, I generally call them

00:39:15.120 just doomers now, like they're all doom and gloom. 0.96

00:39:17.180 And they would say something like, well, if a guy like Robert Kiyosaki couldn't keep his

00:39:21.200 wife around, what makes me think I can do it? 0.98

00:39:24.340 Like, why should I get married?

00:39:25.420 Why should I even bother with women? 1.00

00:39:28.800 Well, that's, that's a very, very good question.

00:39:30.980 You know, I don't have it as a personal question, but I'm still partners with my wife, business

00:39:39.820 wife, you know, we're still, you know, that noise is from, but anyway, uh, I, it's, it's

00:39:47.300 like the Marine Corps, you know, I'm glad I went through it and I'm glad I'm married.

00:39:52.520 And, and today, as I say, the more I chase excellence, the more women I have.

00:39:57.160 Um, now what you guys call LTR, that's another question because I'm still happily married in

00:40:04.700 many ways, but we're just not together.

00:40:06.960 We're still business partners.

00:40:08.560 She's still my best friend.

00:40:10.560 That's priceless.

00:40:11.380 You find just like my business partners, some, some of them have been with me 30 years.

00:40:16.360 That's priceless. 0.99

00:40:18.100 And I've met, you know, scumbag business. 0.99

00:40:21.820 Talk to me about, about the, about the scumbags out there. 0.99

00:40:25.660 I mean, like there's a lot of horrible people out there that will dupe you, that will take 0.99

00:40:30.040 advantage of you.

00:40:31.040 Do you, and I mean, as an older guy, like as you get older, you start to get better and

00:40:35.640 better at, at like sussing them out, you know, separating the wheat from the chaffs, sort

00:40:40.160 of speak.

00:40:40.940 How do you, how do you go about sizing somebody out, you know, to make sure that they're the

00:40:44.820 real deal?

00:40:45.920 Do you have a test or anything?

00:40:47.020 That's a very, very good question because, um, the rule of thumb, my rich dad taught

00:40:53.120 me was that from out of every bad deal and every bad partnership comes a good partner.

00:41:00.180 So sometimes you make, it's like, you know, you date, she may be the best looking person

00:41:06.440 on earth, but she's not a good person, but it makes you clear on what you want.

00:41:10.560 If you know what I mean?

00:41:11.380 So I've had so many horrible partners. 0.99

00:41:13.340 It cost me $30 million to get rid of my last one because there are scumbags. 0.99

00:41:18.020 Now, this is where my wife stepped up and where I didn't rich. 1.00

00:41:21.760 She cleaned them out.

00:41:22.960 I didn't, I didn't, I mean, I make so much money outside my business.

00:41:27.740 I didn't really care how much they stole, but my wife did. 1.00

00:41:31.480 And Kim, she's a, you know, she's a beautiful blonde. 1.00

00:41:34.120 She's, she's thin, but she's not weak. 0.97

00:41:37.060 And she went in and fired them all. 1.00

00:41:40.300 And I called it, it was her crossing the Rubicon.

00:41:43.280 She was no longer just a pretty woman who was smart and all this stuff.

00:41:47.660 She cleaned house. 0.97

00:41:49.880 And that's, and that's when she cleaned house with me too. 1.00

00:41:52.960 Well, sometimes when it rains, it pours, right?

00:41:58.100 They just keep going.

00:42:00.460 Eric says, best channel, best speakers by Bitcoin.

00:42:03.060 G Money says, Robert, can you tell us a big secret behind green initiatives and the move

00:42:07.100 to carbon-based currency and your thoughts on a U.S. social credit score?

00:42:10.840 There's a few questions there.

00:42:11.880 So let's talk about them.

00:42:13.200 Let's talk about the U.S. social credit score first.

00:42:15.260 What do you think of that question?

00:42:17.180 Well, I think it's called what surveillance capitalism.

00:42:19.560 And that's why, you know, I, my friend has what Siri and Alexa and all that stuff.

00:42:25.140 I want, I want a little bit of that stuff around me as possible.

00:42:28.360 And so I know they're tracking, I know they're going to track us on this program.

00:42:34.420 And that's called censorship, if you know what I mean.

00:42:37.520 And it's the worst thing is self-censorship because I'm so afraid what YouTube's going

00:42:42.340 to do to me or Twitter's going to do to me.

00:42:44.460 I self-censor.

00:42:45.440 And that's called fascism.

00:42:49.060 Yeah.

00:42:49.940 Yeah.

00:42:50.460 Yeah.

00:42:51.000 I've got a self-censor as well, too.

00:42:52.540 And I'm casting.

00:42:53.220 Like, I know that there's certain things I can't say in certain areas that I won't go

00:42:56.060 to.

00:42:56.340 And I just reserve that for off-air stuff, right?

00:43:00.220 Correct.

00:43:00.580 When I did our one-on-one and stuff like that, it can't be censored.

00:43:04.340 But anyway, it's, but this is the thing, Rich.

00:43:07.440 There's always the outside.

00:43:08.920 You know, we cannot control the outside that well, but we can control this inside.

00:43:16.080 And that was the thing I learned in the Marine Corps.

00:43:18.660 Can I be a leader?

00:43:21.260 It meant my own brain, my own emotions, my own spirituality, and my own physicalness.

00:43:27.700 I can control me.

00:43:29.200 So I'm a leader inside of me.

00:43:31.300 And that's why what you and Rollo are saying really strengthened this for me because I was 0.99

00:43:36.800 getting my ass kicked by women. 0.99

00:43:38.920 And my weight physically, you know, I had lost control here. 0.99

00:43:44.520 So like I said, I was a double L Ralph Lauren shirt and a 40-inch waist.

00:43:50.780 I think that the notion of the US social credit score that this guy's referencing is probably

00:43:56.400 along the lines of what's unfolding now that's starting to look like what China's been doing,

00:44:00.140 where it's like, if your credit's not good enough, if you go outside and do something

00:44:04.660 that's not agreeable to the government, or you haven't been vaccinated, you know, for

00:44:08.380 example, you haven't taken certain shots and you lose certain privileges.

00:44:11.280 Like even right now in Canada, you could argue that there's a social credit score because

00:44:15.340 I can't get on a plane and travel because I haven't taken a government vaccine.

00:44:20.360 Right.

00:44:20.460 So, I mean, there is a social credit score that's starting to unfold here.

00:44:24.380 Like, have you started to see that happening more or?

00:44:27.280 Oh, I was in Dallas, Texas with Gammon.

00:44:30.320 And I said, yea, though I walk to the valley of the shadow of death, I shall fear no evil.

00:44:34.580 Because I have my own private jet and my money's stashed offshore.

00:44:40.860 It's the lesson there, guys.

00:44:42.120 Money solves a lot of problems for you.

00:44:44.360 And I'm going to get a second passport.

00:44:47.220 Yeah.

00:44:47.940 Do you know what I mean?

00:44:48.680 Second passports are a very, very good idea.

00:44:51.360 I was actually, I had a guy on David Lesperance.

00:44:54.480 He's a ex-lawyer that lives in Poland.

00:44:56.520 He's a Canadian guy.

00:44:57.440 And he was telling me, and he's breaking down all these reasons and all these examples.

00:45:01.400 And it was on this cast, too.

00:45:02.660 So it's on this playlist on playing to win.

00:45:05.580 And he was breaking down the reasons for second, third passports. 0.98

00:45:08.700 You know, how your ass doesn't need to be where your assets are. 0.99

00:45:12.120 Like, you can have your assets in another country and your ass somewhere else sort of thing. 1.00

00:45:15.640 Very, very good concept. 0.81

00:45:16.820 If you guys haven't seen that, you know, go watch it because it's an introductory into it.

00:45:19.840 I'm going to have David on again in the future, too, by the way.

00:45:24.820 Sorry.

00:45:25.220 So G Money here said, the big secret behind green initiatives and the move to carbon-based currency.

00:45:31.420 So what are your thoughts on that part of the question?

00:45:34.140 Well, God bless AOC, Alexandria Ocasio-Cortez, that's the Communist Party Cup.

00:45:38.940 Well, when she came up with, she came up with, you know, she came up with two things.

00:45:42.620 What's the Green New Deal? 0.89

00:45:44.580 I don't know if she came up with it and then taxed the rich, right?

00:45:48.220 So I said, okay, I look at that.

00:45:49.740 And a capitalist can figure that.

00:45:51.280 If you can't outthink a socialist or a communist, hang it up, man.

00:45:55.220 You know, capitalists are capitalists because they're very creative individuals.

00:45:59.300 So I called my other friend.

00:46:00.760 He's talking to me.

00:46:01.540 He says, I'm going to start a carbon credit company.

00:46:05.140 So the AOC is driving everybody into carbon credits.

00:46:08.360 They've been around for 20 years.

00:46:10.560 Yeah.

00:46:11.100 So I just made another couple of million dollars because I financed a carbon credit deal.

00:46:14.920 Everybody has to buy carbon credits from me.

00:46:19.040 God bless AOC.

00:46:20.460 And a carbon credit is really a tax on like Exxon and the airlines and all this.

00:46:31.000 What happens now is Delta Airlines has to buy carbon credits from me.

00:46:36.340 God bless them.

00:46:37.160 Do you think that the carbon credit, social credit system that's coming, I can't remember

00:46:43.500 who did this tweet.

00:46:44.300 It was a guy from Sweden and it said something along the lines of it's, you know, the year

00:46:48.360 is 2032.

00:46:50.280 You get into your electric car, which won't go anywhere because you've already utilized

00:46:54.920 your mileage for the month and exceeded your carbon credits.

00:46:58.220 You then walk to the grocery store to pick up your groceries and some steaks and they won't

00:47:03.360 let you check out with your steaks because you've exceeded your carbon credits.

00:47:06.540 So you have to go home with a bag full of bugs and that's your dinner.

00:47:10.800 Like it could get to that point.

00:47:12.820 Could it not?

00:47:13.320 Like, don't you think?

00:47:14.700 You never know, Rich.

00:47:16.040 You never know.

00:47:16.780 I mean, I wrote Rich Dad Porta in 97.

00:47:19.480 I came my cashflow board game, which this is part of it.

00:47:23.280 You know, it's a financial statement.

00:47:25.180 Okay.

00:47:25.600 You've got to have a financial statement today.

00:47:27.320 Most people don't have one.

00:47:28.880 The reason I can borrow so much money is because of that.

00:47:31.500 But that's my way of saying in 96, 97, I knew it was going to get worse.

00:47:36.980 Because I flew behind enemy lines in 1972 to buy gold.

00:47:41.680 I paid 50 bucks for it.

00:47:43.160 That was a lot of money back then for a Marine lieutenant.

00:47:45.400 You know, I didn't think, Rich, I didn't think I was going to get this bad.

00:47:49.620 You know, so it's got a lot worse than I imagined.

00:47:52.780 So is it going to get worse?

00:47:54.600 Possibly.

00:47:55.820 But I'm preparing for it, not, you know, hiding in a bunker, if you know what I mean.

00:48:01.660 I'd rather be like a Patton on the front line, General Patton, than a bunker bunny

00:48:06.480 general hiding behind the, afraid of a gunfire.

00:48:11.140 Life seems to be a series of problems and challenges, you know, especially for men.

00:48:15.860 And I've always said to guys, you know, when they ask me, like, you know, when it comes

00:48:18.360 to entrepreneurship, Rich, like, what do you think is the number one trait that you should

00:48:21.140 have?

00:48:21.340 And I've always said problem solving skills, problem solving skills.

00:48:24.180 Because that's what being an entrepreneur is.

00:48:26.060 You've got to solve problems constantly.

00:48:28.340 How, how important is being able to solve problems when they come at you in life?

00:48:33.740 Well, again, it's skill sets.

00:48:36.320 It's what skill sets do you need to solve the problem?

00:48:39.640 Like, you know, if somebody has a plumbing problem, I can't solve it for them.

00:48:44.340 I'm not a plumber.

00:48:45.560 Right.

00:48:46.560 But finance, I understood.

00:48:48.420 So that's why I studied, I've been studying money since I was nine years old.

00:48:52.140 I've been studying the Fed since I met the creature from Jekyll Island.

00:48:56.060 And in my book coming out, the Fed is actually Marxist, but people don't know that, which

00:49:03.960 goes back to what I studied at the academy, the communist manifesto Marx and Lenin said

00:49:09.580 a central bank is essential to communism.

00:49:13.700 And this is the third central bank is the Fed.

00:49:16.320 You guys have the Canadian bank, you have a European central bank and all this, and they

00:49:21.980 control the show.

00:49:22.900 But that's why I have gold, silver, and Bitcoin, because I don't trust them.

00:49:27.620 Now, you have to deal with them, but you don't have to be a victim of them.

00:49:33.720 Yeah.

00:49:34.000 You can structure your life in such a way where you're not under their thumb all the time.

00:49:39.340 Another super chat.

00:49:40.400 Roberts, thank you.

00:49:41.640 You were the first video, 60 Minutes to Getting Rich, I saw about the rat race in finance.

00:49:46.260 It changed my life big time.

00:49:47.800 Could you talk about the rat race?

00:49:49.180 Because I had a note over here.

00:49:51.600 According to Rich Dad, the poor and middle class revolves around a pattern, the pattern

00:49:55.160 of getting up, going to work, paying bills.

00:49:56.840 The cycle repeats over and over again.

00:49:58.740 This is what Robert Kiyosaki refers to as a rat race.

00:50:01.780 Can you talk about the rat race a little bit?

00:50:03.560 Yeah.

00:50:03.700 The rat race is on my game board.

00:50:05.260 What I do is I take what vernacular we all use if I'm in the rat race, but also there's

00:50:11.580 the fast track.

00:50:13.540 The fast track is the capitalist track.

00:50:15.680 To get onto the fast track, you've got to have one of these, but they don't teach you

00:50:19.480 at school.

00:50:20.780 They teach you good grades, but my bankers never asked me what my grade point average

00:50:24.860 was.

00:50:25.880 My banker just wants to know, is my money coming from here?

00:50:29.940 How many assets do I have?

00:50:31.500 And like I said, I have about 8,000 rental units, plus commercial, plus this, plus businesses,

00:50:37.780 plus, you know, I just focus here, whereas school teaches you to focus here.

00:50:43.420 How much income can you make?

00:50:45.480 And the trouble with income is your first line's tax.

00:50:50.180 And Marx and Lenin says you want to kill capitalism, you grind them through inflation and taxation.

00:50:56.840 Is that going on today?

00:50:58.540 Yes.

00:50:58.820 We just printed $10 trillion in the US.

00:51:02.040 Canada, your scores, according to the BIS, the Bank of International Settlements, you

00:51:07.140 guys are the worst in the world.

00:51:09.580 You know, it's, and I know how, I love Canada. 0.90

00:51:12.920 I'm not, you know, I'm there all the time.

00:51:14.820 My companies, I took my companies public in Toronto, not NASDAQ.

00:51:20.360 Do you know what I mean?

00:51:21.040 So I love Canada, but still, you know, how socialistic you guys are.

00:51:24.520 And especially that happened in Montreal, when they wanted to, what's it called?

00:51:29.280 Yes.

00:51:30.520 What did the French want to do? 1.00

00:51:32.320 They wanted to.

00:51:33.100 Oh, they wanted to separate from Canada.

00:51:34.940 Separate.

00:51:35.060 Yeah.

00:51:35.360 Yeah.

00:51:35.820 The separatists.

00:51:37.020 Separatists.

00:51:37.380 So that's going outside.

00:51:38.660 This is what I'm saying.

00:51:39.440 It's all going on outside.

00:51:41.800 Question is what's going on inside.

00:51:44.780 And that's why you guys have helped me.

00:51:46.680 I've helped with other with money problems, but that's, that's why it's education, but you've got to take care of yourself inside.

00:51:53.940 Yeah.

00:51:57.380 Cal, just with a $69 super chat.

00:52:00.160 Thanks.

00:52:00.660 It's prices.

00:52:01.300 Thank you, Robin Rich, for doing this.

00:52:02.700 Hashtag chase excellence.

00:52:04.960 The competent man has another one here.

00:52:06.780 It is hilarious to see the EU beg Russia for more NG as they restrict supply.

00:52:13.960 Natural gas, I'm assuming is NG.

00:52:15.800 Natural gas in Europe is at 36 per MPTU, all time high and biting, begging OPEC for more oil.

00:52:23.160 I never thought people could Magoo.

00:52:25.620 Didn't like, didn't, didn't the U S get to a point where it was independent from oil producers with fracking?

00:52:32.620 Like, did that stop or something?

00:52:34.520 Yeah.

00:52:34.980 Biden shut it down.

00:52:36.100 Biden shut it down.

00:52:37.140 They put down the Keystone pipeline and all that.

00:52:39.740 Yeah.

00:52:40.240 Cause I went, I went, cause I started this whole show.

00:52:42.960 I got a job with standard oil when I first graduated, but I went in the military instead.

00:52:47.300 But what he's talking about is this here, this here is the fed.

00:52:51.520 And this here is a shadow banking system.

00:52:54.920 The shadow banking system is what people cannot see.

00:52:58.340 And what's going on in Europe today, gas prices are going through the roof, which is crushing the shadow banking system.

00:53:06.520 Whereas the fed is pumping money in.

00:53:08.660 So I watch all of this stuff.

00:53:10.160 I'm going, okay, okay, okay, okay.

00:53:11.640 But that's why it's gold, silver, Bitcoin, because I don't trust the fed.

00:53:18.780 And everybody, everybody thinks the fed has power.

00:53:21.180 Fed has no power over this.

00:53:23.220 The fed does not print money.

00:53:25.020 The fed technically prints what's called bank reserves.

00:53:28.240 You and I cannot spend bank reserves.

00:53:30.320 So the question is, how does a person like me access those bank reserves?

00:53:34.780 I would, I would, this, I go into a bank.

00:53:36.920 I show them this bank reserves get converted into cash via debt.

00:53:42.380 And so I am a billion dollars in debt, but the debt has gone to buy assets.

00:53:49.060 I am completely opposite of the 401k or the RRSP or what bubble vision CNBC says.

00:53:56.880 I'm a capitalist.

00:53:58.840 That means I have people and money work for me and I pay no taxes legally.

00:54:04.000 And I have a jet.

00:54:05.480 I have my money stored overseas and I'm about to get my second passport.

00:54:10.420 That's when you ask me how bad do you think it's going to get bad?

00:54:13.380 Yeah, when, when residents of the U S start to acquire additional passports, because,

00:54:20.880 because the thing that most people understand is that you don't own that passport.

00:54:23.420 I mean, the government can take it away from you at any time, and that could restrict your

00:54:26.720 movement.

00:54:27.020 And if you want the ability to maneuver, you're going to need another passport.

00:54:30.160 Can I tell you one another, we meet these people on the way who deliver messages like

00:54:34.920 you and Ronald deliver messages.

00:54:37.000 You either listen to them, you don't listen to them.

00:54:38.940 But when I went to school in New York, I had a classmate and he's a Jewish guy from Berlin.

00:54:45.800 His family came from Berlin.

00:54:47.080 I said, well, how'd you get here?

00:54:48.600 He said, well, his mom and dad saw Hitler come to power when they're in Berlin.

00:54:53.400 And so they left and they moved to New York and all their friends said, oh, you're such

00:54:58.640 pessimist.

00:54:59.280 You're such pessimist.

00:55:00.660 Well, Hitler's not going to do anything.

00:55:02.360 You're such pessimist.

00:55:04.260 And so I said, so what's, what's, what was the lesson?

00:55:06.720 He says, my parents understand now that the pessimist came to New York and got rich.

00:55:12.820 The optimist went to Auschwitz. 0.91

00:55:15.820 And that's, that's true story.

00:55:18.380 Yeah.

00:55:19.100 And so what I'm doing is I'm saving gold, silver, Bitcoin.

00:55:22.000 I like YouTube.

00:55:22.960 I like listening to different points of view, but I want to be a capitalist, not somebody

00:55:27.820 who needs a job so they can vaccinate me or fire me.

00:55:30.760 I really do that.

00:55:32.360 Nothing against the vaccine, but don't take my freedom away.

00:55:35.440 Yeah, I agree.

00:55:37.760 Red Pill Arabic with near demographical catastrophe in West economy fall follows. 0.91

00:55:43.460 Do you consider this your future investment?

00:55:47.160 What's that?

00:55:48.460 Let me, let me read it again.

00:55:49.680 Cause I know he's from Jordan with near demographical catastrophe in the West. 1.00

00:55:54.020 So the West is collapsing.

00:55:54.800 Basically is what he's saying.

00:55:55.980 Economic fall.

00:55:56.900 Uh, do you consider this in your future investment?

00:55:59.860 So in future investments, do you, do you consider what's going on in the U S with the fed and

00:56:04.480 with the economy and with, you know, political opinions and political correctness and the

00:56:08.600 wokeness and all that sort of stuff?

00:56:10.300 Yeah.

00:56:10.780 You have to pay attention to what's outside of you.

00:56:12.860 But again, the reason I like your work, it's what's going on the inside of you.

00:56:17.680 So you may not, I cannot control, um, Biden, but I can control me.

00:56:23.960 And so that's why when I was listening to your stuff and Rallo's stuff about chasing excellence,

00:56:28.260 not don't chase women because I was so blasted when Kim left because I stopped chasing excellence. 0.99

00:56:36.620 I became a fat ass beta. 0.99

00:56:38.940 I'm 74 years old. 1.00

00:56:40.480 You know, I'm going, Holy shit. 0.97

00:56:42.560 I'm going to, uh, and because of you and Rallo, you know, my health got better. 0.99

00:56:47.220 Nicole did all those toxic cleanses on me and that costs money. 1.00

00:56:51.040 I mean, self-care is expensive, especially as you get older.

00:56:53.740 It's harder to repair the damage you've done.

00:56:55.640 Yeah.

00:56:56.040 And, and, and that's why what you, what you guys, you guys talk to a younger demographic 0.95

00:57:00.600 and that's why I started that program, sex, money, power with Rallo because sex, money 0.95

00:57:08.180 and power, you got that, you got it made. 0.98

00:57:11.760 Yeah.

00:57:13.320 Too bad they don't teach that in school, huh?

00:57:16.040 Um, one says respects to Rob admitting his old beta tendencies.

00:57:20.260 Most men of his stature position wouldn't admit it.

00:57:22.480 Shout out to Rob for going on the show.

00:57:23.940 And Christian says, thanks Richard for the lessons you've put out there.

00:57:27.920 I too, like Robert became beta over time.

00:57:29.940 I was able to find you before the demise of my marriage, which now works for both of us.

00:57:34.860 Yeah.

00:57:35.360 Yeah.

00:57:35.560 People don't go, people don't like taking vitamins.

00:57:38.040 They prefer painkillers, don't they?

00:57:39.700 Right.

00:57:39.880 I mean, like we only go looking for vitamins after we've taken enough painkillers.

00:57:43.660 Right.

00:57:43.880 I guess so.

00:57:45.460 But you know what, the reason what you say is important is because it's painful too.

00:57:51.660 I'm in the, you know, after the show is over, I'm over to a yoga class.

00:57:56.220 I'm, I'm about as flexible as a leaf spring.

00:57:59.820 I'm Japanese, but I couldn't take judo because my legs don't bend.

00:58:06.260 And, you know, and most Asians are real flexible.

00:58:10.120 Well, you're, you know, you're a single man now, right?

00:58:12.060 I mean, I have a, I have a friend that's actually a little bit older than me.

00:58:15.420 He's also divorced and he calls his yoga studio, his honeypot, because there's so many women 1.00

00:58:19.320 there.

00:58:20.580 Well, George, George Gavin was giving me and giving me a grade for being in spin class.

00:58:25.320 I said, I'm in the back row.

00:58:27.080 I'm the yoga pants instructor.

00:58:29.440 You've got the best view in the house.

00:58:30.820 Uh, Hey, Robert, what advice would you give a 20 year old man who is starting his entrepreneurial

00:58:35.500 career?

00:58:36.640 Start.

00:58:37.540 I mean, uh, study, study, study, study, study.

00:58:40.660 I mean, what accumulates, you know, fat accumulates, but so does knowledge and wisdom.

00:58:47.680 And so I could be sitting at a bar, you know, instead of listening to a Rich Cooper or Rallo, 0.98

00:58:52.680 I keep sitting in a bar, sucking down chicken wings and a Budweiser that accumulates, or I could

00:58:58.460 be listening to YouTube and listen to you guys and listen to Gammon and listen to guys

00:59:02.920 like records.

00:59:03.840 And I also listen to the Marxists.

00:59:06.580 Some of these guys, they give me the creeps.

00:59:09.360 There's a lot of Marxists and communists on YouTube.

00:59:12.600 Well, you have to know your enemy, right?

00:59:13.660 I mean, you have to know what they're plotting.

00:59:15.680 Intel.

00:59:16.360 It's called, it's called keep an open mind.

00:59:18.340 You know what I mean?

00:59:19.340 Yeah.

00:59:20.060 And most of them are, are Marxists because they never learned to be a capitalist.

00:59:24.420 You know, if you're a capitalist, you would never be a Marxist.

00:59:29.280 Well, it's harder work to be a capitalist.

00:59:31.060 I think it's harder work.

00:59:32.140 You know, I always say, you know, just, just do the work.

00:59:34.260 And like part of the reason why so many people, you know, default to easier things is because

00:59:38.520 it's easier, right? 0.99

00:59:39.280 I mean, you know, Marxists give me free shit, right? 0.98

00:59:42.300 I wanted to talk to you a little bit about haters and criticism because it's, because it's 0.98

00:59:47.300 one of the things that starts to happen as you become more popular and, you know, you're

00:59:51.420 in the limelight and I was talking to you before we went live and I mentioned that I was looking

00:59:54.780 at your Wikipedia page and you said, oh, I never read those things.

00:59:58.860 And it, and they're usually filled with a decent amount of criticism.

01:00:01.960 In fact, most of them have like a criticism, you know, area.

01:00:04.400 So how do you deal with critics?

01:00:05.940 Like, do you have a go-to formula?

01:00:07.560 Like, how do you deal with that?

01:00:09.180 Again, Rich, I want to thank you for that.

01:00:11.440 You and Raul.

01:00:12.080 I'm not, I am not bullshitting you because I don't, I don't like, I don't, I don't need

01:00:15.280 to do this.

01:00:15.900 It's, it's when you talk about chasing excellence and getting people into frame, you know, and

01:00:22.800 one of the things I used to do is I'd shine off people.

01:00:26.160 They come up and talk to me about, well, thank you for the book.

01:00:29.380 And now I don't do that.

01:00:31.600 So people stop me and say, thank you for writing your book.

01:00:33.940 I stay with them.

01:00:36.440 I am, my excellence is to be a better human being with them.

01:00:40.760 Everybody that comes up to me because nothing was going to my head as I'm busy.

01:00:45.240 And I don't have time for somebody to tell me how they made 10,000 bucks.

01:00:49.500 You know, I just go, whoa, you know, I sit there, listen to them, you know, but it's

01:00:57.200 in everything I do.

01:00:59.100 Can I be excellent at it?

01:01:01.780 Can I be better human being towards them?

01:01:05.540 And it's in what, that's, that's what I'm saying.

01:01:07.420 It's, it's the word excellence is a mental word.

01:01:11.120 Well, how do I convert it to action?

01:01:12.820 And when I convert it to action, I change.

01:01:17.200 You know, I, uh, Maria Montessori, the Montessori school system.

01:01:21.360 She says what the hand does, the mind remembers, but too many academics, they have good memory, 0.99

01:01:27.660 but they can't do shit. 0.98

01:01:28.600 You know, I mean, that's my whole family, the great people, PhDs. 1.00

01:01:33.080 I have one distant relative.

01:01:35.760 He's 40 years old.

01:01:37.280 He's living in the basement and he's going for a section, second PhD.

01:01:41.620 He can't find a job.

01:01:42.960 I said, duh.

01:01:44.760 Is God trying to tell you something?

01:01:47.360 Yes.

01:01:47.900 Just don't pay attention to that.

01:01:49.580 So what do you do?

01:01:50.820 You don't have any time to pay attention to haters if you're chasing excellence, right? 0.98

01:01:54.040 Well, there's a, there's a saying I have, you know, don't teach pigs to sing. 0.97

01:02:00.540 It wastes your time. 0.99

01:02:01.960 It annoys the pig. 0.99

01:02:03.580 Yeah. 0.92

01:02:04.200 So I don't argue with them.

01:02:05.940 I'm not kidding.

01:02:07.400 Rich, women call me up and say, I want to talk to Rich on, uh, Rollo. 1.00

01:02:11.200 I said, help yourself.

01:02:12.460 I want to tell them why they're wrong.

01:02:13.980 I said, not calling on their show.

01:02:16.740 Yeah.

01:02:17.260 Yeah. 1.00

01:02:17.620 I said, who gives a shit? 0.99

01:02:19.300 You know, but notice they don't have men. 0.99

01:02:23.940 I mean, I, I just look at what's happening.

01:02:26.580 I said, where's your LTR?

01:02:28.640 Where's your, I don't have one.

01:02:30.420 What happened?

01:02:31.220 Well, he left me.

01:02:32.160 Well, that should tell you something.

01:02:36.220 Savage Robert Kiyosaki is the best Robert Kiyosaki.

01:02:39.840 Um, okay.

01:02:40.900 Let me, let me catch up on some of these over here.

01:02:42.740 I'm a man of chasing accidents.

01:02:44.100 Thanks to these two men with these two men on the screen together as prices.

01:02:47.000 Robert gave me the red pill of finance.

01:02:49.060 Rich, you gave me the red pill of life.

01:02:50.760 Lots to respect both.

01:02:51.920 Thank you, man.

01:02:52.360 Thank you.

01:02:52.600 Appreciate it.

01:02:53.860 Um, Russian Eskimo.

01:02:55.720 Thank you, Robert, so much.

01:02:56.760 I'm getting ready to go into real estate at 18.

01:02:59.280 I'm thinking of hard money.

01:03:00.760 Is real estate okay during a crash?

01:03:02.940 I think real estate is great during the crash, isn't it?

01:03:05.400 That's a very important question because all markets go up and all markets come down.

01:03:09.480 Yeah.

01:03:10.060 The reason stocks are better than real estate.

01:03:12.480 Okay.

01:03:12.680 Let's say I buy Amazon or Apple.

01:03:15.620 Let's say it's a hundred bucks.

01:03:17.520 If it goes down, I can, I can exit that fast.

01:03:20.060 It's called liquidity.

01:03:21.940 The true real estate is not liquid.

01:03:24.420 So if you buy at the height of a market, you're the skipper of the Titanic.

01:03:29.000 You're going to go down with it because you can't get out.

01:03:32.680 So that's the word is called liquidity.

01:03:34.600 It's financial literacy.

01:03:35.600 What does liquidity mean?

01:03:37.120 Well, how fast can you exit?

01:03:38.560 So with real estate, the reason I like real estate is I use a hundred percent debt and

01:03:45.380 I pay no taxes.

01:03:47.340 So I've got to be 10 times smarter because I'm using a hundred percent debt.

01:03:52.400 And if that baby comes down, you know, there's going to be a second crucifixions because this 1.00

01:03:59.720 time is going to be a Japanese guy, not a Jewish guy. 0.97

01:04:02.580 You know, they're going to hang me out to dry.

01:04:04.820 My investors will.

01:04:05.700 So it really is the higher the risk.

01:04:10.620 That's the thing I learned in flying.

01:04:12.480 The more dangerous the flying, the better pilot you have to be.

01:04:15.860 That's all it meant to me.

01:04:17.680 You know, I had to be better than the Viet Cong. 1.00

01:04:20.000 I had tremendous respect for the Viet Cong and the NBA.

01:04:22.720 Those guys could fight, you know, and as you know, as a man, you respect another fighter.

01:04:28.520 And they were fiery.

01:04:30.860 Boy, they were good.

01:04:32.640 But I had to be better.

01:04:34.080 That's all it meant to me.

01:04:36.380 Chris says, my bank.

01:04:37.800 Okay.

01:04:38.260 So this is just your quote.

01:04:39.120 He says, you know, my banker doesn't care about my GPA or cares about where my money is

01:04:42.240 coming from.

01:04:45.200 Let's see here.

01:04:46.800 Earthling says, hey, Robert, can you talk about hex crypto and the economics behind the

01:04:51.500 coin, staking, supply, demand, et cetera?

01:04:54.440 I'm afraid.

01:04:55.140 I don't know nothing about hex crypto.

01:04:56.420 All I know is crypto is taken on the Fed and the Fed is Marxist.

01:05:01.480 When you read my book, The Capitalist Manifesto, I have in there all the quotes by Lenin, especially

01:05:07.600 about how to how to kill capitalism was, number one, you debauch the currency, which Nixon did

01:05:14.660 in 71.

01:05:15.740 And second was the establishment of a central bank, which happened in 1913.

01:05:21.340 And what I say to Americans is that America was formed as a tax-free nation.

01:05:28.000 It wasn't 1619 or whatever they say, 1610.

01:05:31.820 America was founded in 1773 at the Boston Tea Party.

01:05:35.680 They kicked all.

01:05:36.760 They said, we're not going to pay taxes.

01:05:38.300 And I'm still a patriot because I still don't pay taxes because I use debt.

01:05:45.140 And that takes a lot of study.

01:05:47.680 And that's what I study.

01:05:49.180 How do the rich really get rich using debt and paying no taxes?

01:05:53.240 You think Trump pays taxes?

01:05:55.620 Of course not.

01:05:56.140 Yeah, most people that have their life sorted that make proper money aren't paying much

01:06:00.940 in the way of taxes.

01:06:02.160 What was that?

01:06:03.100 Most people that have their life sorted that are that are making some serious bank in their

01:06:06.740 lives, especially in the US.

01:06:07.980 I mean, we don't have we don't have the same tax structure that you have in the US and Canada.

01:06:14.500 Like I pay about 53% taxes on my income, plus I'm paying 50% capital gains on anything

01:06:20.420 that's outside of retirement savings.

01:06:22.040 So it's like Canada is not the place to be if you want to pay minimum taxes.

01:06:26.560 If you can leave, leave.

01:06:27.880 I always tell guys, leave Canada.

01:06:29.380 But I'm stuck here until my kid's an adult.

01:06:32.020 I'm just being honest.

01:06:33.960 Can I offer something?

01:06:35.820 Yeah, go ahead.

01:06:36.680 My accountant, his name is Tom Wheelwright.

01:06:39.460 I'm going to have him on the program with you and Rolla.

01:06:44.880 I'd love to be a part of that conversation.

01:06:46.720 Absolutely.

01:06:47.220 And he's because he's an expert on taxes.

01:06:49.780 Yeah.

01:06:49.940 That guy reads tax code.

01:06:53.120 And so what we found, I've traveled all the way over Tom and Kenny, my real estate guy.

01:06:58.120 All we do is talk about debt and taxes.

01:07:01.020 And in every country, it's real estate is the way out of taxes.

01:07:05.800 Debt.

01:07:06.640 Yeah.

01:07:07.080 And so I laugh at all the guys who were in Puerto Rico. 0.77

01:07:09.900 I said, if you guys had any financial IQ, you don't have to go to Puerto Rico because

01:07:14.920 in Puerto Rico, you have to live 183 days to minimize your taxes, whereas if you're a real 1.00

01:07:20.380 estate guy, you don't have to pay taxes anyway.

01:07:22.860 Right.

01:07:23.060 But you've got to be able to borrow in the $100 million category.

01:07:27.120 Okay.

01:07:27.480 So keep an eye out for that.

01:07:28.380 We're going to do that collab in the future.

01:07:30.140 So to the point of Hex Crypto, let me just talk about this for a minute because there's

01:07:34.400 last time I checked, there's something like 11,900 different cryptocurrencies.

01:07:38.260 Most of them have no use case whatsoever and they're total either garbage or scams.

01:07:43.680 Hex, in my view, is one of those. 0.92

01:07:45.900 There's a lot of people that love it and it's kind of tied into multi.

01:07:49.380 Like to me, it throws off the same vibes as BitConnect.

01:07:53.480 And if you want to go back to 2016 or 17, around when BitConnect was getting big, you'll

01:07:57.520 know exactly what I'm talking about.

01:07:59.340 My view on it is take your profits and get out.

01:08:01.940 That thing's going to collapse eventually.

01:08:03.820 Okay.

01:08:04.420 I've never heard about it, so I have no comment.

01:08:06.960 Yeah.

01:08:07.140 The Competent Man, funny recent story.

01:08:09.660 I was worried about large spikes in energy prices, but I realized I can't do anything.

01:08:12.920 So I bought a oil future options contract.

01:08:16.200 Go oil.

01:08:16.860 Yeah.

01:08:17.060 I mean, you might as well make money while they're doing what they're doing, right?

01:08:22.020 That's a capitalist attitude.

01:08:23.440 That's like Alexandria Ocasio-Cortez in the Green New Deal. 1.00

01:08:27.480 I said, well, I'll just sell carbon credits and make more money.

01:08:30.560 Thank you.

01:08:31.060 God bless her. 1.00

01:08:32.580 Greetings from Berlin.

01:08:33.600 I am Moroccan.

01:08:34.840 Russian.

01:08:35.500 Sorry.

01:08:35.660 Russia doesn't want spot markets.

01:08:37.580 That's like it's pushing for long-term contracts.

01:08:39.660 Follow the next, I don't know what SC is.

01:08:43.920 Social contract?

01:08:45.140 I don't know.

01:08:45.280 Maybe.

01:08:46.240 What are your thoughts on decentralized finance?

01:08:48.320 Okay.

01:08:48.500 So let's talk about DeFi.

01:08:49.920 So decentralized finance and apps, and would you consider them a good investment?

01:08:53.440 What do you think about those, Robert?

01:08:54.320 I'm not qualified to speak on that, so I'd better not.

01:08:57.600 I'm just saying I use 100% debt because every time I borrow money, money is created.

01:09:06.260 And so because I use debt, the government gives me tax breaks.

01:09:11.580 If you can understand that, every time I borrow, like, say, $30 million, I borrow $30 million for a piece of property in Austin, Texas, I pay.

01:09:22.940 They give me tax breaks because I'm using debt.

01:09:26.780 And that's why this financial statement is crucial.

01:09:30.960 So when I sit down with the banker and I show them I've got all these properties, I have no dings against them.

01:09:37.160 They're cash flowing.

01:09:38.560 They'll give me more money.

01:09:40.660 So that's why, you know, Rich, if he could get my accountant on and he can talk about global taxation because it is your single largest expense.

01:09:49.580 And I would hate to see you move to Puerto Rico.

01:09:53.880 I'll go to Puerto Rico, but I like Canada better.

01:09:56.920 Do you want me to talk to Sarah to set that up?

01:09:59.220 Yeah, yeah, yeah.

01:10:00.140 So to the point of decentralized finance, and Robert, I would encourage you to look into this a little bit closer.

01:10:06.680 Maybe talk to Charlie and Miguel.

01:10:09.800 I know that you were on with them together with Rolo when they were doing the Cultivate Crypto thing.

01:10:14.700 They know this space really, really well.

01:10:18.080 Decentralized finance is going to be huge.

01:10:20.000 It is going to disrupt the banks big time.

01:10:23.420 It's basically decentralized finance.

01:10:25.980 Like, as it purports, the banks can't control it.

01:10:30.720 They can't shut it down.

01:10:31.800 And they can't tax it.

01:10:34.020 Well, you know why I'm laughing is because I am centralized finance.

01:10:37.420 I am the Fed.

01:10:38.840 You are your own Fed.

01:10:40.600 Yes.

01:10:41.120 Yeah.

01:10:41.760 Yeah.

01:10:41.960 But I have to be a borrower.

01:10:43.700 Yeah.

01:10:44.600 The Fed loves debtors.

01:10:45.700 Debtors.

01:10:46.920 They hate savers.

01:10:48.700 So what kind of rates are you able to get on your real estate assets, for example?

01:10:54.800 What do they pay monthly?

01:10:56.520 My rates?

01:10:57.640 Yeah.

01:10:57.820 Like, how much are you earning off the assets monthly, roughly?

01:11:00.360 Well, I have no idea.

01:11:01.580 8,000 of them.

01:11:02.900 So with decentralized finance products, when you're staking them, they're anywhere from,

01:11:09.420 I mean, on the low end, 15% to 20%.

01:11:11.420 I've seen APYs as high as, I mean, temporarily in the thousands, but they generally average

01:11:17.980 around 44% or so.

01:11:20.040 It's worth looking into.

01:11:21.640 Yeah.

01:11:21.840 Let me say something, Rich.

01:11:23.120 If I buy a property for 100% debt and I make $10, what's my ROI?

01:11:30.100 Sorry.

01:11:30.620 Say again?

01:11:31.540 Let's say I borrow, you know, like I just borrow money.

01:11:35.340 I have 100% debt.

01:11:37.240 Okay.

01:11:38.420 I'm as decentralized as I get because I'm centralized as I get.

01:11:42.000 Yeah.

01:11:42.340 But since it's not of my money, every dollar I make is infinite.

01:11:45.640 Right.

01:11:46.460 I'm making money out of nothing.

01:11:48.260 Right.

01:11:48.600 So you're making money off the central bank, basically.

01:11:51.320 Yes.

01:11:51.520 I am the central bank.

01:11:53.120 Yeah.

01:11:54.000 You know, but it takes intelligence.

01:11:55.520 And that's what, that's what the guy was talking about with the rat race and the fast track.

01:12:00.340 That's all I teach is I don't need money.

01:12:03.740 I use debt.

01:12:05.640 And when I buy, so let's, let's say I use debt here.

01:12:09.620 This is the liability.

01:12:11.400 And I buy an apartment house.

01:12:13.420 So I have no money in the deal and cash is flowing to my income and I'm paying no taxes.

01:12:19.400 It's infinite.

01:12:20.240 What's the, what's the starting point for the average guy in the United States to get into

01:12:26.180 a position where they're not going to like, is it 30 million?

01:12:28.880 Is it 50 million?

01:12:29.620 Like what sort of book do you need to get into that?

01:12:31.960 If you understand infinite, you don't need money.

01:12:35.260 It's a complete different way of thinking rich.

01:12:38.040 So that's, so that's what I learned from my rich daddy.

01:12:41.720 Cause everybody says, well, I can't afford it and all this stuff.

01:12:43.800 He says, no, you just don't have enough brain power.

01:12:47.100 So that's, that's all I teach is how I, in fact, you know, I'd love to come on a program

01:12:52.660 with you and my two guys, my debt guy and my tax guy.

01:12:56.200 Well, I understand debt in Canada because I used to run a business in, in the debt space.

01:13:02.800 We used to get people out of credit card debt.

01:13:04.220 No, because we, we do a lot of business in Canada.

01:13:07.100 Okay.

01:13:07.380 Yeah.

01:13:07.720 That's what I list in Toronto.

01:13:08.680 Yeah.

01:13:09.000 Let's do that.

01:13:09.940 Okay.

01:13:10.200 Let's definitely do that.

01:13:10.640 It's just a way of thinking.

01:13:11.680 That's all it is.

01:13:12.780 Okay.

01:13:13.040 Um, let me get through the rest of these here.

01:13:15.480 Cause I want to try to respect your time.

01:13:16.740 I'm going to, I'm going to wrap this up in about 15, if that's okay.

01:13:19.280 Sure.

01:13:19.620 Um, the Moorish says thus ending the hostility of Western Europe, which is mainly encouraged 1.00

01:13:25.660 by LGBT and liberal movements inside the parliament.

01:13:28.480 I think he's making reference to a comment that we were chatting about earlier.

01:13:32.660 Um, question for Robert.

01:13:35.640 Hang on.

01:13:36.480 Okay, guys, slow down with the super chats.

01:13:37.980 Maybe, maybe stop.

01:13:39.060 Cause I got to get, get this done in like 15 minutes.

01:13:41.340 Uh, sorry, sorry.

01:13:46.960 Hold on a second.

01:13:47.740 Okay.

01:13:48.040 Here we go.

01:13:49.400 Uh, oh, this is a great question.

01:13:51.220 Rob, if you're writing rich dad, poor dad today, what point would you emphasize?

01:13:55.140 Thanks for the insights, Richard Robert.

01:13:57.880 I would emphasize today.

01:13:59.340 Watch YouTube.

01:14:00.980 Watch anybody specific.

01:14:03.400 No guys like you, Rollo, uh, George Gammon.

01:14:07.080 Uh, Gammon's got a great channel.

01:14:09.600 I've watched a lot of his stuff now.

01:14:11.000 Yeah.

01:14:11.900 I, I, I wouldn't go to, I, I, I drive people crazy.

01:14:15.520 I take my kid out of school and I'm going to watch YouTube and they go, these teachers

01:14:21.160 are teaching communism.

01:14:22.840 Yeah.

01:14:24.080 And you know that I know that.

01:14:25.700 Yeah.

01:14:25.800 They're indoctrinating children.

01:14:27.180 Yeah.

01:14:27.900 It's, it's a indoctrination camp for children run by the state.

01:14:31.400 And I fought against those guys.

01:14:33.500 And when I came back from Vietnam and I got spit on hit by eggs by the hippies of the, of 1.00

01:14:41.220 the Woodstock generation, they all became school teachers.

01:14:44.100 That'll learn them.

01:14:47.720 Uh, Robert, what books do you read recently and recommended reading?

01:14:53.920 Well, I'm, I'm, I'm reading constantly, but also I read, uh, spiritual books.

01:14:58.340 It's like the sad, sad guru.

01:15:00.540 You know, it's about how you're, he says the same thing you say, you know that rich.

01:15:04.920 What'd you say?

01:15:05.300 But it's, it's about, you got to take care of your insight.

01:15:08.820 You got to handle inside you so it can control outside of you.

01:15:13.140 Everybody wants to change the world today.

01:15:14.520 Let's change the world.

01:15:15.500 Let's make it more friendly and inclusive.

01:15:17.100 And it's like, if your house is messed up, why are you trying to change the world, man?

01:15:21.480 Fix yourself first.

01:15:22.960 Yeah.

01:15:23.780 I mean, that, that's why, that's why I, uh, I beg Sarah to get me on your program, just

01:15:29.580 to acknowledge what you and Rollo are doing, because it's information that is not readily

01:15:34.220 available in the real world.

01:15:36.960 And, uh, you've really got to know about sex, money, and power.

01:15:40.620 Yeah. 0.95

01:15:41.520 And I'm, I'm pretty good on the money and the power side, but I had no idea what a fat

01:15:46.480 beta male I had turned into.

01:15:50.020 See, that's the sad part about what guys like me and Rollo are doing is that most people don't

01:15:55.360 get to the point where they're willing to, you know, pay attention, listen to what we have

01:15:58.960 to say until they go through the trauma, right?

01:16:01.260 You know, like their wife leaves them because you become a fat beta male, you know, for

01:16:03.920 example, that's not always a reason, but there's a number of different catalysts, which, which,

01:16:08.660 which are the input to I'm suffering trauma.

01:16:11.360 Where do I get the answer?

01:16:12.220 And then one of your friends says, Hey, you know, read this book and watch this channel

01:16:15.160 sort of thing.

01:16:15.620 Right?

01:16:16.500 Yeah.

01:16:16.700 So rich, I love my wife madly.

01:16:19.740 I date other women, but I'm focusing on being more excellent.

01:16:24.240 And guess what?

01:16:25.060 My wife likes me better.

01:16:27.660 Instead of being a, funny how it works that way, huh?

01:16:30.340 Yeah.

01:16:30.700 It's, it's, if I, if I just focus on becoming more excellent, focus on my mission, people

01:16:38.700 like me better. 0.99

01:16:39.400 And if I'm willing to invite them into my frame, as you guys say, and not be an asshole 0.99

01:16:45.980 saying, well, I'm too busy. 0.99

01:16:47.020 Do you know, it's those little things, rich dad said it himself, man, be on your purpose,

01:16:54.180 have a grind, you know, chase excellence, not women, women will want to be with you. 1.00

01:16:58.220 Men will want to be you.

01:16:59.340 It's, it's, it's not complicated, you know?

01:17:02.080 No.

01:17:02.860 And there's, and there's plenty of women out there. 1.00

01:17:06.420 And, but I tell you what, what you guys talk about, I see, but I didn't realize this

01:17:10.980 is testosterone levels are going down there and men are becoming, they're not even beta. 0.99

01:17:17.860 You know what they're called as a person with a vagina. 1.00

01:17:23.100 I don't know if you know who Andrew, Andrew Huberman is. 0.98

01:17:25.880 I saw him on a Joe Rogan podcast a couple months ago, and I've been watching his podcast

01:17:29.740 a lot lately.

01:17:30.380 And I came across this one piece of information, which I think you're going to like.

01:17:33.720 He said that site, like scientifically speaking, like they've actually confirmed this men's

01:17:39.000 testosterone levels reduce when their woman cries.

01:17:43.640 When what?

01:17:44.760 When their woman cries, like when their wife or their girlfriend cries over something,

01:17:48.740 men's testosterone levels drop. 1.00

01:17:52.200 Well, you know what, what you guys call it is don't get shit tested. 0.99

01:17:56.580 Yeah. 0.99

01:17:57.120 Well, that's, that's, that's a shit test is sitting around listening to the, you know, 0.99

01:18:01.280 the tears. 1.00

01:18:01.640 Rich, that, you know, the, the scientific holy grail is called when you get shit tested, 0.99

01:18:06.860 fight back. 1.00

01:18:08.580 I mean, I said, fuck you. 1.00

01:18:10.740 And I, I, I now recognize a shit test when I see it. 1.00

01:18:14.800 I didn't know it before. 0.99

01:18:16.140 Yeah.

01:18:16.520 There was a, um, there was a gig that we did with Aaron Cleary, Rollo and Gammon, I think,

01:18:21.700 and you weren't available for it.

01:18:23.620 But, um, I think Aaron was talking about how he doesn't deal with a woman's tears.

01:18:27.760 Like he just walks away.

01:18:29.600 So, so there's a lesson there from Huberman scientific research.

01:18:33.240 You know, if she's starting to cry, you can walk away and your testosterone levels maintain

01:18:36.580 themselves.

01:18:37.280 It's one option anyway.

01:18:38.880 Yeah.

01:18:39.020 Just don't get manipulated by it.

01:18:41.160 Yeah.

01:18:41.340 Don't, don't be manipulated by the tears.

01:18:43.080 Control you.

01:18:43.580 There's nothing wrong with being kind and compassionate and stuff like this.

01:18:46.560 Right. 1.00

01:18:47.120 You don't have to be an asshole. 1.00

01:18:48.820 That's not what alpha stands for. 1.00

01:18:50.460 It's not asshole, but just be an alpha male. 0.99

01:18:53.880 Put yourself first. 0.99

01:18:55.020 Let's grab this one over here.

01:18:56.240 Um, I believe that entrepreneurial spirit and maintenance of society are not exclusive.

01:18:59.840 Can we admit that bankers do suck capacity from the economy, stifle the ability to create

01:19:05.040 startups more than it should?

01:19:06.680 What do you think about that?

01:19:08.160 I completely disagree.

01:19:09.760 If you have a good financial bankers, give all the money.

01:19:12.420 I have to learn how to raise capital.

01:19:14.820 It's a science, you know?

01:19:16.900 So that's why I was in Vancouver.

01:19:19.060 You know, when I told Rich, when I told people I was listening on the Vancouver stock exchange,

01:19:24.020 they all ran from me. 0.99

01:19:25.020 I said, you must be nuts. 0.97

01:19:28.520 I said, but that's where those guys are. 1.00

01:19:30.920 They're practicing.

01:19:32.160 I learned more about raising capital in Vancouver.

01:19:35.240 I call it the Frito Bandito capital of the world.

01:19:39.480 But once we got listed, we had to migrate to Toronto, TSC.

01:19:43.280 And they said, are you going to migrate to NASDAQ?

01:19:46.940 Well, we didn't have a chance because the Chinese stole our property. 1.00

01:19:50.400 That was a goldmine story, right?

01:19:51.780 Yeah.

01:19:52.260 Yeah.

01:19:52.660 So that's how you learn, you know?

01:19:54.060 But I make the money back because exactly as I said, you fall down, you stand back up.

01:19:59.480 Yeah.

01:20:01.280 A winner is somebody that got, you know, you fall down six times, you get back up seventh.

01:20:05.660 You know, that's what a winner does, right?

01:20:07.380 That's when they win.

01:20:08.640 Thank you for answering my prior question with such depth.

01:20:11.100 Would also like to ask what you see as the most possible timeline for the U.S. through 2030.

01:20:15.920 Will centralization or decentralization win?

01:20:18.660 How does the average Joe survive?

01:20:20.300 So lean into the future 10 years, Robert.

01:20:22.740 How does the average Joe survive what's happening in the U.S.?

01:20:26.080 Well, I think one of the best books written was that guy, The Fourth Dimension or something, or The Fourth Turning.

01:20:37.940 You know, it talks about we're now hit the fourth turning.

01:20:40.520 A turning is a lifetime, approximately 85 years.

01:20:42.640 Is that the book title, The Fourth Turning?

01:20:45.200 I think so, yeah.

01:20:46.060 But it talks about we're entering a period of weak leadership.

01:20:54.640 And when you see Biden, he's as weak as they get.

01:20:58.120 Yeah.

01:20:58.200 So these guys have studied this.

01:21:01.780 I think it's called The Fourth Turning.

01:21:03.320 I read it a while ago.

01:21:05.080 But we're now exactly on the fourth turning.

01:21:08.100 And there's a period of leadership.

01:21:09.900 We have lack of leadership.

01:21:11.620 So 2030 will be even worse.

01:21:13.300 But that's good news if your attitude is more of an alpha.

01:21:19.340 You know, you're going to be proactive.

01:21:20.920 You're going to do something.

01:21:22.280 You're going to work harder on yourself and try and change outside.

01:21:25.700 You know, change you.

01:21:26.960 Be in the stacks.

01:21:28.180 Find a purpose.

01:21:29.680 You know, chase excellence.

01:21:31.120 That's how you get out of this thing.

01:21:32.380 I mean, from your stuff and Rollo's stuff and all this, it's really changed what I do.

01:21:39.160 I wrote a capitalist manifesto, do in part a lot to inspiration by you and Rollo, plus my wife leaving.

01:21:47.100 I said, why'd she leave? 0.98

01:21:48.840 So the kick, you know, it's like a shotgun shot in the test.

01:21:52.140 I said, okay, you better get more excellent and write harder.

01:21:55.920 And since I see communism already taking place, I mean, it's all over Canada, as you know.

01:22:00.760 Yeah.

01:22:01.000 And I better do something about it.

01:22:03.520 So I start the capitalist manifesto with, I have more to lose and to gain by writing this book, but I got to do it.

01:22:10.100 Got it.

01:22:10.980 And that's mission.

01:22:12.580 That's excellence.

01:22:13.660 But I had to become a better writer because the danger is higher.

01:22:18.940 I got like eight minutes left, guys, so don't send any more questions.

01:22:22.500 I may not get through all these.

01:22:24.020 Question for Robert.

01:22:24.640 Thoughts on China releasing their own cryptocurrency in the coming months backed by gold?

01:22:28.760 Will we see this in the U.S. or even a global cryptocurrency?

01:22:31.860 Well, the global cryptocurrency is Bitcoin right now.

01:22:33.840 But what do you think about this Chinese one that's coming out?

01:22:36.680 Well, I just don't trust the Chinese. 1.00

01:22:40.860 Not the people, but the Chinese government.

01:22:43.580 The government, yeah.

01:22:44.060 There's a funny story about it, and this kind of fits where we come from, is when Mao Zedong was in power, he was one of the worst financial leaders.

01:22:53.940 He murdered 25 million or 60 million people.

01:22:57.200 And that's what I'm afraid of. 0.77

01:22:58.580 Communists murdered people. 0.89

01:23:00.080 Stalin murdered people. 0.99

01:23:01.440 Lenin murdered people. 0.97

01:23:02.720 Hitler murdered people.

01:23:03.960 So when Mao came to power, they had a rat problem, and there were rats all over China because nobody was taking care of it.

01:23:12.440 So he said, okay, I'll pay you guys to take care of, to catch rats. 0.99

01:23:17.620 And the Chinese aren't stupid. 0.99

01:23:18.960 They said, why should we just catch them? 1.00

01:23:19.960 They just raised them.

01:23:20.720 There's a decent documentary on Netflix.

01:23:26.380 I think it's called How China Became Rich.

01:23:28.600 It's either on Netflix or Amazon Prime.

01:23:30.460 I can't remember where I saw it, but it's called How China Became Rich.

01:23:32.920 Go watch it.

01:23:34.720 Yeah, okay.

01:23:36.080 The point here is this, is that we're interconnected in this world as a global currency.

01:23:40.940 We're in a shadow banking system has more power than the Fed or an essential bank.

01:23:44.880 And so the reason I support Bitcoin or crypto, the process of it, is because the Fed, Treasury, and Wall Street have no power anymore.

01:23:55.460 And you better go to the power as quickly as you can.

01:23:59.040 And the power sits up here, you know, and don't be a victim.

01:24:02.940 You look at what Black Lives Matter says.

01:24:05.380 I'm not against blacks.

01:24:06.200 They say that the definition of a, what do they call it, a suppressed person is a mentally and intelligently more superior than the rich.

01:24:23.100 They're telling the people that poor people are better than the rich people.

01:24:27.060 And I don't doubt that's true in some places, but I don't really care.

01:24:30.920 That's why I'm on your program.

01:24:32.380 You just chase excellence in your own life.

01:24:34.600 And you've been able to handle no matter what comes down the pike. 0.69

01:24:39.920 You know, like I said, when my wife left me, it was a wake-up call.

01:24:43.720 But she stepped up too.

01:24:45.940 I wasn't stepping up.

01:24:47.520 So I've stepped up now and we actually get along better.

01:24:51.480 Or I could blame her for everything.

01:24:53.880 Right.

01:24:54.300 Yeah.

01:24:55.200 This is a really good question here.

01:24:56.620 So isn't real estate mostly ruined by the fact the government can stop rent for months on end?

01:25:00.780 Like why would the typical person want that risk?

01:25:04.600 They've never stopped my rent.

01:25:05.860 I don't know what country you live in.

01:25:07.780 I think he's talking about the rent relief during the pandemic, during the lockdowns and all that, where people weren't required to pay their rent.

01:25:16.280 Yeah.

01:25:16.500 Well, you just handle those little problems you handle.

01:25:19.720 I mean, I don't handle any of that.

01:25:21.260 That's why my friend Kenny comes on.

01:25:22.780 I just give him my money.

01:25:25.900 I make a lot of money in my other businesses, but I've got to give my money to a real estate guy.

01:25:31.380 How did you solve that problem?

01:25:32.640 Like, I'm not in the U.S., so I don't know how the rent situation works, you know, with a lockdown.

01:25:38.860 Yeah.

01:25:39.400 So that's why it would be good, Rich, if we got Kenny and Tom on.

01:25:42.700 We can talk about that.

01:25:43.640 We talk about Kenny.

01:25:44.400 I can talk about the world.

01:25:45.420 We've traveled the world together.

01:25:46.700 And they all find out it's always the same.

01:25:52.040 You know, when you look here, this is ESB.

01:25:55.820 This is the book number two.

01:25:57.440 You go to school for it to be an employee, or you become a doctor, a lawyer, a specialist, or a plumber, something like this.

01:26:04.360 Capitalists live on this side here, B and I.

01:26:07.940 And so when we taught all over the world, we only teach this side here.

01:26:11.680 I don't know this side.

01:26:13.040 That's my poor dad's side.

01:26:14.640 This is my rich dad's side here.

01:26:16.320 So B stands for a brand, 500 employees and a brand.

01:26:22.460 So my book is now number 20 in the world because I studied how to build a brand.

01:26:30.700 I didn't study how to be a doctor.

01:26:33.520 And then the I stands for insider.

01:26:35.980 I never touch outside stocks.

01:26:38.080 I'm always an entrepreneur.

01:26:40.440 But so that's why my solutions are different, but I studied for it.

01:26:44.180 That's the story of Rich Dad Poor Dad.

01:26:46.760 That's embroidered in the headrest on your chair, too, isn't it?

01:26:50.920 What's that?

01:26:51.700 That's embroidered in the headrest on your chair behind you.

01:26:53.800 Yeah, I just noticed that.

01:26:55.040 My whole team gave that to me because we teach, Rich Dad teaches people to be on this side.

01:27:01.480 Academics teach people on this side.

01:27:03.240 These guys pay 40% in taxes.

01:27:06.900 S's pay 60%. 1.00

01:27:08.420 So if a doctor makes a million dollars, they walk home with 400.

01:27:12.740 That's terrible.

01:27:13.960 Yeah.

01:27:14.080 I make a million dollars here.

01:27:16.500 I walk away with a million dollars.

01:27:18.960 And I walk over here, it's 20%.

01:27:21.020 And the reason I get a tax break here is because I have so many employees.

01:27:25.460 And the average person has no employees.

01:27:27.600 So I have about 1,000 employees.

01:27:30.920 I create jobs.

01:27:32.200 So I get tax breaks.

01:27:33.220 And so that's why these guys here, they're small business guys, get hammered because my tax guy will explain it to you.

01:27:44.100 I just know I don't want to be here.

01:27:45.660 Yeah, we'll schedule that in so that, yeah, cool, cool.

01:27:48.480 Yeah, let's dive into that.

01:27:49.660 This is book number two.

01:27:51.080 It's called The Cash Flow Quadrant.

01:27:52.800 A lot of people say after reading Rich Dad Poor Dad, this makes more sense.

01:27:56.900 And the third book is Rich Dad's Guide to Investing here.

01:28:01.380 I use debt and I don't pay taxes.

01:28:03.680 You know how fast you can get ahead doing that?

01:28:08.660 Here, I'm just going to look real quick if there's any other questions.

01:28:12.060 Most of these are statements.

01:28:13.280 You guys can read the Super Chats.

01:28:17.060 Looks like that's it.

01:28:18.040 But let's start to wrap up because we did a full 90 minutes.

01:28:22.160 This was a long one.

01:28:22.960 I normally don't go quite this long, but this was an awesome conversation.

01:28:26.620 Thank you.

01:28:27.520 I'm going to talk to Sarah about scheduling you again with the tax guy.

01:28:31.720 Where do you want to send people to find your stuff?

01:28:33.940 Is it your books?

01:28:34.760 Do you have a website?

01:28:35.480 Do you have a program?

01:28:36.920 Well, it's richdad.com.

01:28:43.300 I flunked out of high school because I can't write.

01:28:48.040 But you wrote books.

01:28:50.560 And now my book is number 20 in the world of Amazon.

01:28:56.140 Which one is it?

01:28:56.960 Is it the Rich Dad book or is it the Cash Flow Club book?

01:28:59.160 After 25 years.

01:29:01.140 Rich Dad book.

01:29:01.920 It is.

01:29:02.260 Awesome.

01:29:02.700 But I started it because this here is what your banker asks you for.

01:29:07.000 It's a financial statement.

01:29:07.920 And Rich Dad Poor Dad is simply a book on accounting.

01:29:11.760 Income statements, balance sheet statements, and cash flow.

01:29:14.380 If you can control that, which is what you guys are talking about, you and Rollo, you control yourself.

01:29:19.460 You control your financials.

01:29:20.560 You can control your life.

01:29:22.040 There you have it, guys.

01:29:23.360 Robert Kiyosaki is the godfather of the red pill on finance.

01:29:27.060 So check out his material.

01:29:29.280 Like I said, he's a great guy.

01:29:30.880 And I really enjoyed the conversation, Robert.

01:29:33.020 I'm going to reach out to Sarah and take you up on the offer with your tax back for the same team.

01:29:37.580 It's sex, money, power. 0.99

01:29:38.960 Sex, money, power, man. 0.98

01:29:40.180 Let's do it. 0.91

01:29:40.600 That's what we want.

01:29:41.420 Thanks, brother. 0.99

01:29:42.380 Stay on for sex just as I end this. 0.97

01:29:43.880 But guys, thank you.

01:29:44.960 Make sure you hit the like button and leave a comment.

Playing to Win - March 02, 2022

047 - Robert Kiyosaki

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