Valuetainment - March 20, 2020


Episode 444： How to Make Millions In the Next Market Crash


Episode Stats


Length

54 minutes

Words per minute

179.94005

Word count

9,845

Sentence count

1,048

Harmful content

Misogyny

6

sentences flagged

Hate speech

18

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Robert Kiyosaki shares his thoughts on the stock market crash and why he thinks it's a scary time to be a parent. He also talks about his book, "Who Stole My Pension" and how he views the current economic situation.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 30 seconds.
00:00:30.000 In the next market crash.
00:00:31.400 Good to be back with our friend here, Robert Kiyosaki.
00:00:33.280 Thank you so much for making the time.
00:00:34.180 Thank you.
00:00:34.740 Congratulations on your success.
00:00:35.980 Yes, congrats on this 41 million.
00:00:37.980 Are you kidding me?
00:00:38.900 How does it feel knowing you have inspired so many people around the world to, with a
00:00:44.620 simple concept, a diagram that so many use the EBSI from an employee, I'm sorry, employee
00:00:51.920 to self-employed, to business owner, to investor.
00:00:54.820 How does it feel you knowing you've impacted so many people to make that shift?
00:00:57.820 That's quite humbling, you know, because I almost didn't finish school because I kept
00:01:04.140 flunking out of school because I can't write.
00:01:06.520 So to be an international writer is a miracle.
00:01:11.860 I bet your teachers, you know, if they had to see that that's taking place, I wonder
00:01:16.320 what some of the critics who knew you at that time would be saying about 41 million copies
00:01:21.200 today.
00:01:22.040 But let's talk about some of the stuff that's going on today.
00:01:24.220 You know, the market is an interesting market today.
00:01:26.380 I'm kind of curious to know what you've got going on.
00:01:28.000 Obviously, you wrote a book called Who Stole My Pension, which we'll get into here in a
00:01:31.360 minute.
00:01:31.700 But it's an interesting market.
00:01:35.060 Dow's at 29K, you know.
00:01:37.440 You've got Brexit's about to take place, January 31st, you know, 2020.
00:01:42.000 They're kind of going through that to see what's going to happen there.
00:01:44.540 You've got the Iran-U.S. conflict, right?
00:01:47.280 You've got the trade war with China, you know, that's taking place.
00:01:50.980 And there's some more going on right now with Japan, but they're kind of getting the deal
00:01:54.120 going, right?
00:01:55.140 You've got Venezuela still having some issues with Maduro and Guaido with their oil.
00:01:58.780 You've got U.S. with politics.
00:02:00.740 It's a very divisive time with mainstream media and Trump and impeachment and all this, just
00:02:08.040 all this stuff that's going on.
00:02:09.320 A lot of people see that as a scary time.
00:02:13.400 A market crashes around the corner.
00:02:15.360 What am I going to do?
00:02:16.380 I'm going to lose everything.
00:02:17.420 I'm going to go through this.
00:02:18.640 How does somebody like you, from your lens, how do you view today's economy and what's
00:02:22.720 taking place?
00:02:24.300 Well, first of all, the reason I wrote Rich Dad, Poor Dad was because I knew this time
00:02:27.940 was coming.
00:02:29.840 And we have, as a world, have never been here before.
00:02:33.660 And so is it a spooky time?
00:02:35.240 Damn, yeah.
00:02:35.600 It is probably the most dangerous time ever, ever, ever, ever.
00:02:40.100 There's nothing to compare it to because there's never been a world economy before.
00:02:44.480 For example, you know, 100 years ago, there was a stock market crash in England.
00:02:49.440 It didn't affect anybody.
00:02:51.140 But now the U.S. market goes down.
00:02:53.060 The world goes down.
00:02:54.740 So plus with social media and all this we're doing now.
00:02:57.880 And so we've never been here before.
00:03:00.200 And, you know, I'm excited about it because I make more money in crashes than I do when
00:03:08.460 they go up.
00:03:10.020 But for the average person, they'll get wiped out.
00:03:12.480 I'm afraid at the worst.
00:03:14.120 I hope I'm wrong, but I think we're heading for a global depression.
00:03:18.160 Global depression?
00:03:19.220 Yeah.
00:03:19.460 What does that look like?
00:03:20.980 Depression.
00:03:21.620 I mean, people are depressed.
00:03:23.480 The economy stays down.
00:03:24.740 It's hard to come back up.
00:03:27.600 And now the good news is that for those who are prepared for it, like you and things like
00:03:31.900 this, you'll do better.
00:03:33.860 See, not everybody dies in a plane while some plane crashes.
00:03:37.500 But the last crash in 2008, you know, I was on Wolf Blitzer's program six months before
00:03:43.680 Lehman Brothers went down.
00:03:45.100 And I said Lehman was going down.
00:03:48.200 And nobody listened, but I went down.
00:03:50.440 And so I've been expecting this market to go down for quite a while.
00:03:55.740 And I'm concerned about my fellow human beings.
00:03:59.420 But as you know, most Americans are clueless.
00:04:02.560 You know, they don't know what's going on.
00:04:04.480 But, you know, if you travel the world, I just got back from Africa and China and Japan
00:04:10.340 and New Zealand.
00:04:12.020 People are scared.
00:04:13.400 You know, Australia hasn't had a recession in 30 years.
00:04:16.940 It's in recession.
00:04:17.540 But Americans are fat, dumb, and happy having a good time, which is good. 0.99
00:04:23.340 But I'm concerned.
00:04:24.620 That's all I can say.
00:04:25.460 I'd be afraid if I had kids, you know.
00:04:28.420 You'd be afraid about having kids today.
00:04:30.100 If I had kids.
00:04:30.880 No.
00:04:32.720 You know, I think as an adult, you can go hungry, but you don't want to see your kids
00:04:36.000 go hungry.
00:04:36.980 And that's what's going to happen.
00:04:38.080 You think it's going to get that bad?
00:04:39.380 Yeah.
00:04:39.940 Let me ask you this.
00:04:41.060 What is the biggest factor that's going to cause that?
00:04:43.380 Well, the reason I wrote Rich Dad Poor Dad is the U.S. dollar.
00:04:48.440 You know, that's my book over there, Fake, which came out last year.
00:04:51.640 Fake Money, Fake Teachers, Fake Assets.
00:04:54.260 And the U.S. dollar is fake.
00:04:56.720 Never in the history of the world has any fake money ever survived.
00:05:03.660 And we're doing the same thing.
00:05:04.980 We just keep printing this money.
00:05:07.660 And when I wrote Rich Dad Poor Dad 20, almost 25 years ago, people said I didn't know what
00:05:12.080 I was talking about.
00:05:13.080 You know, I said savers would be losers.
00:05:16.040 Now, today, there's quantitative easing, which is counterfeiting money.
00:05:19.960 And then you have zero interest rates.
00:05:22.900 And people are still saving money.
00:05:25.220 Are you nuts?
00:05:26.140 They just printed, I think, $500 billion in September of this year because the repo market
00:05:33.640 is going down.
00:05:35.580 And the average guy goes, well, what's the repo market?
00:05:38.420 They don't know.
00:05:40.020 So that's why it's fake money, fake teachers, fake assets.
00:05:43.620 Our education system, it has been my rant forever.
00:05:46.600 Why don't we teach people about money?
00:05:49.400 Why is it?
00:05:50.100 We all use money, but we don't teach people about it.
00:05:53.620 So that's why I'm concerned.
00:05:56.020 And I wrote this book, Who Stole My Pension?
00:05:59.420 It's already sold out.
00:06:01.720 But I wrote Who Stole My Pension because it was the reason I wrote Rich Dad Poor Dad.
00:06:07.320 The two authors here, me and myself, Edward Seidel, we both had dads who lost everything.
00:06:14.160 And when I was in my 20s and my poor dad lost everything, it scarred me.
00:06:21.700 And I said, I'm never going to let anybody ever do that to me.
00:06:26.220 So I had just come back from Vietnam in 73.
00:06:29.420 My dad was unemployed.
00:06:30.800 Poor dad was unemployed.
00:06:31.880 And he tells me to go fly for the effing airlines.
00:06:35.680 I said, are you kidding me?
00:06:37.700 And he says, go back to school.
00:06:39.000 Get your master's and get your PhD.
00:06:40.740 I said, are you kidding me?
00:06:41.900 Here the guy is unemployed.
00:06:45.400 He's got no pension.
00:06:46.700 He's got no paycheck.
00:06:47.720 And he's telling me to go back to school.
00:06:49.080 I said, what, learn nothing?
00:06:51.500 You know, and those guys who, my friends who flew for United Airlines, they're broke today.
00:06:56.880 Their pensions were stolen.
00:06:59.100 U.S. Air, same thing.
00:07:00.960 You look at what's going on in Paris today as we talk, they're rioting.
00:07:04.380 Millions of people are rioting because of pensions.
00:07:07.140 Japan, they're rioting because of pensions.
00:07:08.800 Terrible, you see them, it's terrible.
00:07:10.420 Yeah.
00:07:10.740 Yeah.
00:07:11.440 And Americans, oh, I don't know how my 401k is doing. 1.00
00:07:14.960 I'm going, gee, I'd be a little bit worried.
00:07:17.240 But they don't know.
00:07:18.980 Americans live in a fishbowl. 1.00
00:07:20.460 You know, they can, everybody sees in, but Americans can't see out.
00:07:24.300 So like, I travel the world constantly.
00:07:26.280 And what I see going on in the world is disturbing.
00:07:30.520 I was just in Argentina and I took my kid brother there and he came back a changed man.
00:07:36.500 He says, you weren't kidding, were you?
00:07:37.880 I said, no, I wasn't.
00:07:38.780 My brother could not believe that what happens in Argentina is going to happen here.
00:07:45.860 It's terrible.
00:07:46.720 It's 12 million people working to support 9 million people in Argentina with an inflation of 31, 32 percent right now.
00:07:53.400 It's an absolute travesty what's going on over there.
00:07:57.800 And when you look at Argentina from America, you're like, oh my gosh, it's the, you know, Europe of Central, it's a Europe of Central America.
00:08:04.660 You know, when you go to Argentina, it's such a beautiful place, but.
00:08:08.060 It's one of the most beautiful, Buenos Aires is spectacular.
00:08:10.600 Beautiful place.
00:08:11.680 And it's got nice hotels, food, restaurants.
00:08:13.960 First class.
00:08:14.700 First class, everything.
00:08:16.460 So why do you think sometimes, you know, the thing I'm always curious about is when we're talking about fear.
00:08:22.740 Robert, what is the biggest difference between fear today versus fear 50 years ago versus fear 100 years ago versus fear 20 years ago?
00:08:31.760 Isn't this a common thing?
00:08:32.960 Like when market does well, economy does well, a few people are prepared for it.
00:08:37.460 Most people kind of sit around, don't do anything about it.
00:08:39.780 What's changed?
00:08:40.640 And is that going to be happening 50 years from now, 100 years from now where people capitalize and most don't?
00:08:46.680 Well, that's a fabulous question because, you know, today when I refer to 2008, most people remember 2008.
00:08:58.720 Do you know what I mean?
00:08:59.120 That's when Lehman went down, Bear Stearns went down.
00:09:01.000 Of course, 38% drop.
00:09:02.200 Yeah, they all remember it.
00:09:04.520 But when I started Rich Dad, Poor Dad, the only thing they had was the Depression.
00:09:09.080 I came out in 1997, Rich Dad, Poor Dad came out, and their only reference points was the Depression.
00:09:19.440 And none of the people I talked to remember the Depression.
00:09:22.460 So the fear today, I think people are a little bit wiser, is because they do remember 2008, and they do remember 2000.
00:09:30.360 So 2008, I mean 2000, 2008, and here we are today.
00:09:35.800 So I think most people are at least kind of tuned in.
00:09:40.800 I hope it doesn't come down, but I'm afraid it will.
00:09:43.340 That's what I have to say.
00:09:46.000 Most people are more tuned in today because it was only 12 years ago when the last market crashed.
00:09:50.620 And I remember 2008.
00:09:51.340 2008 was pretty ugly.
00:09:52.240 We started our agency a year later in 2009.
00:09:55.060 That's the smartest thing you could have done.
00:09:56.200 Yeah, believe me, it benefited us because we got a contract with AIG at the time and a few insurance companies,
00:10:02.100 and we started growing, but everybody was scared.
00:10:04.320 And a part of, you know, the business for us is fear sharpens listening.
00:10:09.240 If you're able to monetize on fear, you can really do some stuff when the market changes.
00:10:15.140 But I want to say what you did was really, really smart because the best time to start a business is right after a crash.
00:10:21.660 I made more money after 2008 than I ever did my whole entire life because everybody was hiding like little cockroaches.
00:10:28.220 Wow, you made more money after 2008 than your entire life.
00:10:30.920 Yeah, so here I'm talking about the coming depression.
00:10:33.660 Everybody says, oh, you're such a pessimist, you know.
00:10:36.700 I go, no, I'm excited.
00:10:38.740 I get sexually stimulated thinking about all the bargains that are going to be on the street, you know what I mean?
00:10:46.280 I mean, it's going to be bargains everywhere.
00:10:48.440 But everybody else, oh, you're pessimistic.
00:10:50.380 No, I'm actually optimistic.
00:10:51.340 So anyway, so you're very smart.
00:10:54.520 When I study business, guys who start right after a crash do very well most of the time.
00:11:00.800 It's worked for us, you know, whether it was smart, luck, or wise, or a little bit of all of it, we'll take it.
00:11:06.140 As long as we do it.
00:11:06.660 Just admit you're stupid.
00:11:07.340 I'll take it.
00:11:07.800 I don't care what it is.
00:11:08.600 Yeah.
00:11:09.020 I didn't know what else to do.
00:11:10.440 So I just started to do it.
00:11:10.940 It just didn't have worked out for us.
00:11:12.260 But so somebody's watching and saying, okay, Robert, you're saying this while, you know, 2008, 2009, Dow drops off and it goes down to, I don't know what the number was.
00:11:26.360 It goes down to 6,500 at one point.
00:11:28.520 And I don't know the exact month on when it hit, but it hit 6,500 points.
00:11:32.400 And it was at 14.
00:11:34.120 And it was at 14.
00:11:35.140 And it went to 65.
00:11:35.960 So that's 50%.
00:11:36.860 Yeah.
00:11:37.360 You could have bought Ford stock at that time.
00:11:38.860 I think like 75 cents or a dollar and all these other things that took place at the time.
00:11:43.160 Everything was cheap to buy, right?
00:11:45.180 So that takes place.
00:11:47.140 And then we, you know, we go from 6,500 to 16,000 to 29,000.
00:11:53.880 And I have a friend of mine where I said, hey, you remember that one book Harry Dent wrote?
00:11:57.180 I don't know if you remember Harry Dent when he wrote a book talking about the fact that the Dow is going to go to 42,000, et cetera, et cetera.
00:12:02.780 And the opposite happened, right?
00:12:04.020 The great boom I had.
00:12:04.860 The great boom, yes.
00:12:05.660 And then there was the other book, which is like, well, it's going to be the opposite.
00:12:09.460 The market's going to tank.
00:12:10.340 And the market went up.
00:12:11.180 So my buddy said, whatever Harry Dent writes, do the opposite.
00:12:14.880 I don't know if you remember this book.
00:12:16.680 Harry, it's a friend of mine.
00:12:18.100 Harry, hear what they're saying about you?
00:12:20.660 We're taking your counsel, except my buddy says do the opposite.
00:12:23.760 And then there was another book that was written where you read good to great.
00:12:26.980 And you're hearing all these stories he has in there about Fannie, you know, Freddie Mac and Fannie Mae.
00:12:30.840 That book was a big book, Collins, for quite some time.
00:12:33.440 The Red Book by Jim Collins.
00:12:34.340 And the principles haven't changed, but some of the stories of the companies, you know, had changed.
00:12:39.020 I think he was Kmart and some of these other stories.
00:12:41.340 So it's 29,000 right now.
00:12:43.380 Somebody may be watching and saying, listen, there's a 70, 80% chance Trump is going to get reelected, the way it's going right now.
00:12:49.940 This impeachment's not going to go anywhere.
00:12:51.700 He's going to get reelected.
00:12:53.120 Joe Biden's not going to be able to debate against the guy.
00:12:55.620 Bernie has some energy.
00:12:56.760 Bernie, Bernie, Bernie.
00:12:57.380 But they're not going to let Bernie get the superdelegates because the superdelegates are going to go to Joe, maybe Warren, maybe it's a broker convention.
00:13:05.720 Bloomberg comes and he's setting up offices all over the place here, all over the country, spending all this money.
00:13:09.680 He's worth $54 billion.
00:13:10.640 He can do it.
00:13:11.140 But there's the optimists that say, Robert, I don't know.
00:13:15.600 I think Dow's going to go to 35, 40, 45.
00:13:19.380 I think it's time to double down right now.
00:13:21.900 You know, I think things are going to be good the next four years, five years.
00:13:24.440 I just don't know six years from now, but I do know four or five years from now.
00:13:27.540 What would you say to somebody like that?
00:13:28.940 Will you guarantee it?
00:13:30.700 Absolutely not.
00:13:32.900 See, I'm not in the stock market, so I'm not the guy to ask.
00:13:35.900 And I just don't trust the market because it's so manipulative.
00:13:41.720 I mean, I'm not saying, you know, that book on fake money, fake t-shirts, fake assets, the Dow.
00:13:47.420 This book, Who Stole My Pension, I write about what is America's number one export. 0.56
00:13:53.420 Do you know what it is?
00:13:54.680 Toxic assets.
00:13:57.000 You know, 2008 was Wall Street.
00:14:00.360 Toxic assets.
00:14:02.440 Toxic assets.
00:14:03.260 CDOs, MBSs.
00:14:04.280 Yes, yes.
00:14:04.540 You know, derivatives.
00:14:05.900 And so what is it today?
00:14:07.540 Wall Street just looted the pensions.
00:14:10.080 So this book, Who Stole My Pension, it's like I said, my co-author is an SEC attorney.
00:14:15.660 And he got sick and tired of seeing all these bankers loot the pensions and get paid bonuses.
00:14:21.580 And then the labor union guys who manage the funds get paid bonuses.
00:14:26.460 And the guys who manage it get paid bonuses.
00:14:28.600 Meanwhile, the workers get screwed.
00:14:31.060 So when this next crash comes, it's going to be horrible.
00:14:34.920 Now, you look at the other guy.
00:14:36.300 So there's two authors.
00:14:38.660 Ted Sedell, SEC attorney.
00:14:41.020 His father was a CIA operative in Uganda.
00:14:44.880 And Idi Amin killed his father.
00:14:47.060 So his family went broke because there was no body.
00:14:50.480 He couldn't collect anything because no body, no corpse.
00:14:54.440 It's a corpse.
00:14:55.560 Whereas my father ran for political office against the governor of Hawaii.
00:15:00.280 And he got crushed.
00:15:01.760 And the governor says, no job, no paycheck, no pension.
00:15:05.180 So my old man's broke.
00:15:06.620 So Ted and I are about the same age.
00:15:10.020 And we come back.
00:15:10.860 He said, my father has no money.
00:15:13.280 My family's starving.
00:15:14.540 My family was starving because my father lost everything.
00:15:17.240 So it kind of put us on edge.
00:15:18.980 You know what I mean?
00:15:19.360 I don't trust my government.
00:15:21.440 I'm not a Republican or Democrat.
00:15:23.260 I like Trump.
00:15:24.680 But they can't save me.
00:15:27.440 You know, Trump, Biden, Sanders.
00:15:29.820 I mean, it's a cast of characters, right?
00:15:31.520 You got the Donald on one side.
00:15:35.620 And then you got Comrade Sanders, a commie.
00:15:39.240 And then you got Pocahontas. 0.91
00:15:42.020 And then you got Alfred E. Newman, Buttigieg.
00:15:46.100 It's a relative TV show up there.
00:15:50.600 You're counting on the government to take care of you?
00:15:53.200 I mean, wake up.
00:15:54.680 So you don't at all look at it as they have an effect over your net worth or your next moves?
00:15:59.140 No.
00:15:59.900 So you're...
00:16:00.980 That's good.
00:16:01.640 You want to make sure that no matter which who's in office or if it crashes, you're okay.
00:16:06.160 That's the most important thing you can do to...
00:16:07.800 You don't pivot based on presidents?
00:16:09.700 No, of course not.
00:16:10.940 They don't affect me at all.
00:16:12.140 You don't pivot based on presidents?
00:16:13.880 No, I'm not a stock guy.
00:16:14.960 That's why.
00:16:15.660 Okay.
00:16:16.520 Because I'm a real estate guy.
00:16:18.480 So for you it's...
00:16:19.580 I own businesses.
00:16:21.020 So the Rich Dad Company does better in a crash.
00:16:24.440 And apartment houses, they always do well because people have to have some place to live.
00:16:29.780 And I want oil wells because people are always burning oil.
00:16:33.120 So I always protect my assets that they're crash proof.
00:16:39.680 So let me ask you.
00:16:41.720 The average person is watching this right now saying, okay, Robert, I'm not like you.
00:16:45.340 I don't run a company.
00:16:46.900 I don't have a brand.
00:16:48.020 I haven't sold 41 million copies.
00:16:49.780 I don't have oil.
00:16:50.460 I don't have rental properties.
00:16:51.940 What can I do?
00:16:52.820 I'm in a time like this.
00:16:54.060 You're telling me the market's going to go in shambles here pretty soon because of currency.
00:16:58.440 And we printed half a trillion dollars of money in September just in one month, not including
00:17:03.480 the $3 trillion we printed in the last seven years prior to that.
00:17:07.140 What do I do to be prepared for a time like this?
00:17:10.380 Well, first of all, everybody can do something, but they won't.
00:17:14.820 And that's the problem.
00:17:15.940 Do you know that the reason, you know, who stole my pension, there was plenty of money
00:17:23.100 in it, but nobody did anything.
00:17:24.920 They just stole it.
00:17:26.720 And people did nothing.
00:17:28.120 It's like I said, when the crash came in 2008, not one of those guys went to jail.
00:17:33.240 They got paid bonuses.
00:17:34.780 So there's something rotten inside America.
00:17:37.700 And I think the problem with many Americans is they're complacent.
00:17:41.060 They expect, well, it'll heal itself again.
00:17:43.640 So the thing that everybody can do is, you know, like, as I covered in fake, my first
00:17:51.100 investment was a gold coin in Hong Kong.
00:17:54.720 I bought a Krugerrand.
00:17:55.540 I was flying off an aircraft carrier in Vietnam.
00:17:58.580 And I went to Hong Kong and I bought a gold Krugerrand.
00:18:02.020 The date was 1972.
00:18:04.020 The reason the date's important is because in 1972 it was illegal for Americans to own gold.
00:18:10.260 So I had to smuggle that little puppy into America.
00:18:15.600 I put it in my pocket, came off the ship, and nobody checked, you know.
00:18:18.740 But I felt like a criminal as I smuggled this gold coin.
00:18:21.680 Because it was illegal for Americans to own gold after 1933 under Roosevelt.
00:18:27.060 But that gold coin today is worth almost $2,000.
00:18:31.720 The one gold coin.
00:18:32.960 Yeah.
00:18:33.500 And I still have it.
00:18:34.460 What did you pay for it?
00:18:35.580 $50.
00:18:37.000 $50 to $2,000.
00:18:39.140 1972?
00:18:40.160 Yeah.
00:18:40.560 It just sat there.
00:18:41.780 So I have millions.
00:18:42.700 And so I never, because I understand money, that, you know, quantitative counterfeiting and
00:18:49.020 zero interest rates, I don't trust the dollar.
00:18:51.140 So for most of my life, I've saved gold and silver.
00:18:55.340 And not ETFs.
00:18:56.560 I stay completely out of pay.
00:18:57.820 You know, I know that's your world, but my world is completely into the hard assets.
00:19:01.520 So I have millions in gold coins and silver coins.
00:19:07.200 I just kept saving it because I don't trust the dollar.
00:19:10.560 So everybody can buy a silver coin today for $20.
00:19:15.460 A silver eagle is $20.
00:19:18.240 But how many people will go to a coin shop and buy it?
00:19:21.400 Probably none.
00:19:23.200 Less than one-tenth of one percent of Americans own precious metals.
00:19:28.140 And silver today is 50% below its all-time high.
00:19:32.340 So silver is the biggest bargain sitting in the market as we speak today.
00:19:37.680 You know, it's about $20.
00:19:40.380 It should go to $50.
00:19:42.160 So at $20, and I tell my friends, I go, oh, yeah, think about it.
00:19:47.680 That's the problem.
00:19:49.240 So everybody can afford $20.
00:19:51.320 You know, kids can afford $20.
00:19:53.040 The thing is, people won't do it.
00:19:54.440 And you know that, too, when you deal with people.
00:19:56.860 Most people are pretty sedentary.
00:19:58.640 You know, they want to do the same old thing.
00:20:00.660 I'm happy.
00:20:01.320 Nothing's going to happen.
00:20:02.600 Oh, you're just trying to scare me.
00:20:04.440 But I was talking to my doctor last night.
00:20:06.580 You know, he says, you've been saying this stuff for 25 years.
00:20:09.680 I never listened to you.
00:20:10.840 I said, well, he says, now what do I do?
00:20:15.280 Because his 401k, you know, as we cover in this book here,
00:20:20.300 the average firefighter has about $1.2 million in pension.
00:20:24.760 But there's nothing there.
00:20:26.480 What do you mean?
00:20:27.580 Their payout's going to be at $1.2 million.
00:20:29.820 The average firefighter retiree has a $1.2 million pension payout.
00:20:33.580 Yeah, that's how much they'll get paid out.
00:20:35.520 But there's nothing there as a problem.
00:20:38.680 Meaning what?
00:20:39.480 Meaning they don't have the money to pay the benefits?
00:20:41.520 It was stolen.
00:20:43.780 It was stolen by Wall Street.
00:20:46.460 So how is that going to be fulfilled?
00:20:47.700 That's why we wrote this book.
00:20:48.320 How is that going to be fulfilled?
00:20:49.780 Because I know one of the stats you said.
00:20:51.540 You said by 2050, $2 billion retirees will be above the age of 60.
00:20:55.820 What was the stat you said about?
00:20:57.000 Okay, today is 2020, right?
00:21:00.740 In 10 years, 2030, 2 billion baby boomers across the world will retire.
00:21:06.720 Japan's broke.
00:21:08.980 Argentina's broke.
00:21:10.680 China's broke. 0.65
00:21:12.360 Italy's broke.
00:21:13.520 Germany's broke. 0.57
00:21:15.420 All these old guys are retiring.
00:21:17.300 And the stock market, I was at, I live in a fairly exclusive place in South Carolina.
00:21:23.780 And I was talking to my friends there.
00:21:25.440 They said, oh, we love Trump.
00:21:27.020 We love Trump.
00:21:28.180 Stock market's at all-time high.
00:21:29.980 And I said, yeah, but so is our debt all-time high.
00:21:33.640 See, they watch the stock market.
00:21:35.680 They don't watch the debt.
00:21:37.740 And the repo market, the repurchase market, is the biggest, one of the biggest markets in
00:21:43.300 the world, and the Fed is bailing that one out now.
00:21:48.200 So the average American is watching the stock market, but not what's really going on.
00:21:53.260 So that's why I wrote, who stole my pension?
00:21:55.580 So that means retirees, their kids, taxpayers will pay for the heist.
00:22:03.840 So, so, so let me ask you this.
00:22:05.680 So one is, you said to buy coins, whether it's silver or gold.
00:22:09.760 You don't buy gold coins, you don't buy gold coins to make money.
00:22:13.300 You buy gold coins because the dollar is going to go down.
00:22:17.320 So I don't trust the dollar.
00:22:18.660 Anytime Buffett says, I remember when Buffett says, I'm buying, he bought $35 million of
00:22:22.300 silver.
00:22:22.720 I don't know if you remember that when he bought it.
00:22:23.920 You're like, okay, be prepared because something's about to happen.
00:22:26.000 Yeah.
00:22:26.360 Right?
00:22:26.640 If he buys gold, just be ready in the next 6, 12, 24 months.
00:22:30.140 He's anticipating some kind of a crash to be taking place.
00:22:33.880 He's right now in cash because he's-
00:22:36.340 That's smart.
00:22:36.620 Yeah, he's anticipating something to happen to buy up businesses and rebuild them.
00:22:41.220 He does that all the time.
00:22:42.300 And then he's going to go in after the crash.
00:22:44.120 He's going to go after the crash.
00:22:45.280 Now, the tragedy is, which I cover in Fake and Who Stalled My Pension, so you have this
00:22:51.320 defined benefit, which are police officers, firefighters, and school teachers, and union
00:22:55.900 guys.
00:22:56.380 Like the UPS drivers.
00:22:59.540 You know, they're pretty smart guys, those UPS drivers.
00:23:02.060 They were getting a $5,000 a month pension.
00:23:05.220 They gave my haircut down to $850 a month.
00:23:08.320 From $5,000?
00:23:10.680 Screwed them all.
00:23:13.100 Now, this is every one of them, Robert, when you're saying this?
00:23:15.700 From $5,000 to $850.
00:23:17.280 Yeah.
00:23:17.640 How can they do that?
00:23:18.540 Well, look at my friends who are airline pilots.
00:23:20.800 Lost everything.
00:23:21.440 They stole the pensions.
00:23:25.160 Nobody talks about it.
00:23:27.480 U.S. Air, they stole the pensions.
00:23:31.320 The Teamsters, they got stolen by Wall Street.
00:23:35.820 And nobody knows about it.
00:23:36.980 Are they not insured?
00:23:39.140 Well, it's PBGC, right?
00:23:41.860 Pension Benefit Guarantee.
00:23:43.080 They're broke.
00:23:43.560 The defined benefit, which is the DB pension plan, teachers, firefighters, school teachers.
00:23:51.060 I don't have one.
00:23:51.800 You probably don't have one.
00:23:52.800 No.
00:23:53.400 That was the Industrial Age pension plan, my father's pension plan.
00:23:58.120 The PBGC was to back it up.
00:24:00.940 Today, as we talk, if they had to bail out the defined benefit pension, it's anywhere from
00:24:06.920 $9 trillion to $17 trillion shortfall.
00:24:09.680 Look at CalPERS, California State Pension, $1 trillion underwater.
00:24:16.200 CalPERS alone.
00:24:18.740 And then now you've got the 401k guy.
00:24:21.880 The average 401k, at least a school teacher has a million, too.
00:24:26.220 The average 401k guy has $65,000.
00:24:29.820 By retirement.
00:24:31.760 The average 401k guy has $65,000 by retirement.
00:24:34.900 And so what the actuarials do, you know those guys, right?
00:24:40.520 The guys that put the numbers together.
00:24:42.420 They lump in the guy with 1% in with the guy that got nothing.
00:24:46.040 And it comes out, every American's a millionaire.
00:24:48.820 Because the upper 1%, they're so bloody rich.
00:24:52.440 Of course.
00:24:52.980 They lift everybody else up.
00:24:54.400 If they take the top 5% out, those numbers will be a whole different story.
00:24:58.080 Yeah.
00:24:58.580 Yeah, you can.
00:24:59.160 You add those billionaires in there, it shows the numbers to be much better.
00:25:01.900 Yeah.
00:25:02.100 It looks really good when you average it, you know.
00:25:05.580 But when you look at it case by case.
00:25:08.460 So the average 401k guy is $65,000 to $100k when they retire.
00:25:15.380 Now that's just America.
00:25:17.760 So remember, Paris is rioting right now because they're trying to cut their pensions.
00:25:22.700 Japan's rioting. 0.64
00:25:23.940 Hong Kong's rioting.
00:25:25.040 Argentina.
00:25:26.400 Indonesia.
00:25:26.920 The old guys like me are going to suck the system dry.
00:25:33.780 So if anything's going to bring down the market, it's going to be pensions.
00:25:38.280 Because I wish I could get younger, but I can't.
00:25:44.380 So these guys are getting older and older.
00:25:46.300 Every day it goes by, we get closer to the edge.
00:25:48.480 And they're like lemmings, you know. 0.95
00:25:54.060 So that's why my doctor, my medical doctor, says, I should have listened to you 10 years ago.
00:25:59.760 So, well, you've still got time.
00:26:01.320 Okay.
00:26:01.800 So one is some kind of a precious metal, is one.
00:26:06.600 As for money.
00:26:08.180 For money as a form of investment, long term.
00:26:10.840 No, it's not even an investment.
00:26:12.260 It's an insurance policy.
00:26:13.560 Because the dollar is going to go down.
00:26:15.680 So you buy it and you resell it, or you buy it or you keep it?
00:26:18.360 Just keep it.
00:26:18.820 Okay.
00:26:19.120 So long term, you buy it and you keep it and you set it aside.
00:26:21.140 I never sell.
00:26:22.000 Okay.
00:26:22.600 So you buy it and you keep it.
00:26:23.720 Okay.
00:26:23.900 So that's one.
00:26:24.740 So what else can I do today?
00:26:26.100 If I know these bad times are coming, I'm a regular guy, what else do I do to position myself better?
00:26:31.240 Well, what a person does is what they can do.
00:26:34.340 And since the average person has no financial education, they can't do much.
00:26:39.400 So, like, you know, I can short the market.
00:26:42.240 I'll make more money as it short is coming down.
00:26:45.500 So I'm looking forward to it.
00:26:47.080 But the average pensioner, they're handcuffed.
00:26:50.260 They can't get out.
00:26:51.640 If they take the money out, they're penalized 30%.
00:26:54.440 They screwed them.
00:26:57.300 They screwed everybody.
00:26:59.160 That's Wall Street, the government, and all these guys.
00:27:03.020 So what can I do?
00:27:04.940 I'm one of them.
00:27:05.920 What do I do?
00:27:06.440 Does it go back to employee, self-employee, business owner, investor?
00:27:09.700 Like, go find a business, go start a business, go reposition yourself career-wise?
00:27:15.140 You know, is there a one, two, three-step process on what I can do to be prepared for it?
00:27:20.520 Well, the next book I'm writing with a guy named Jim Rickards.
00:27:23.400 He wrote Currency Wars and all that.
00:27:25.460 The next book I'm writing is called The Ravens.
00:27:27.960 And Jim and I see eye-to-eye, you know, definition of intelligence.
00:27:30.920 He says, you should have gold and you should have silver.
00:27:35.080 You should have museum-quality artwork.
00:27:38.700 I don't have any of that.
00:27:39.640 Museum-quality artwork.
00:27:40.900 Yeah.
00:27:41.960 And real estate.
00:27:44.820 Income-producing real estate.
00:27:46.060 Like, you have, I have a friend in Panama.
00:27:50.200 He has an avocado farm.
00:27:52.320 He says, I got out of, he's a Canadian, he says, I got out of Canada because Canada's 1.00
00:27:56.820 in worse shape than America.
00:27:58.760 And this guy's pretty, he's a, he's a, you know, a bond trader.
00:28:01.980 So he's sitting in Panama growing avocados, he says, because people have to eat.
00:28:06.740 Another guy's, a friend of mine, is growing blueberries.
00:28:09.380 But another friend of mine, he moved up to, he was from Seattle, excuse me.
00:28:14.660 He had a big house, his kids all moved out.
00:28:17.220 So he converted the kids' bedrooms into one-bedroom apartments.
00:28:21.520 So he put a kitchen and he put a toilet inside his little bedrooms.
00:28:26.800 And so he now rents out four bedrooms.
00:28:28.820 He's making more money today than ever before because a lot of workers commute to Seattle.
00:28:34.120 So they come in, they check in, they come in on Sunday night, they check out Friday afternoon.
00:28:39.400 It's a little house.
00:28:40.280 He's making more money.
00:28:41.580 So the point is, everybody can do something, but you've got to figure out what you can do.
00:28:45.980 So to me, what I take away from what you just said right there is, use your creativity to kind of position yourself in a way, whatever that could be.
00:28:54.280 Just think outside the box and be creative.
00:28:56.640 Don't short stocks if you've never shorted a stock because you know how dangerous that is.
00:29:00.900 A hundred percent because it could flip on you and then you're...
00:29:03.420 Oh, you're short and then it goes up?
00:29:05.180 Yeah.
00:29:05.980 You're out.
00:29:07.740 You're out, especially...
00:29:08.640 Out of the money.
00:29:08.880 I remember back in 01 when the margin, the 99, when the margins were, margin calls were coming up.
00:29:14.000 I think there was even a movie named Margin Call 15 years ago.
00:29:17.360 But how about industry-wise?
00:29:19.140 So right now when you're looking at the line, so don't look at yourself as who you are today.
00:29:22.900 Let's go back to you're out of the Marines, okay?
00:29:25.720 You're, I don't know, 32 years old, okay?
00:29:28.760 You're 30 to 35 years old.
00:29:30.180 You've just started a family, okay?
00:29:32.340 You're just getting married.
00:29:34.080 You're just about to have a kid.
00:29:35.940 You don't have a lot of money to yourself.
00:29:37.760 Maybe you've got 20, 30, 40, 50 grand.
00:29:39.980 You know, you've got something going on.
00:29:42.300 But you know this is coming.
00:29:43.680 And you're watching and saying, okay, this makes sense to me.
00:29:45.720 I buy into it.
00:29:46.560 This time is coming.
00:29:47.640 How do I pivot now with industries that I can look at that could be good ways to position myself for 5, 10, 15 years from now?
00:29:54.080 Again, if this is Robert 30 to 35, how would you position yourself at that time?
00:29:58.740 You don't have a lot of money.
00:30:00.660 Well, you and I are educators, really.
00:30:02.480 And there's something you should know about, you know, technology, all these cameras.
00:30:08.780 Okay, it's called the Lindy effect.
00:30:11.160 This Nazeem Taleb wrote about it.
00:30:12.680 He says, anything that's been new in the last 20 years will be gone in 20 years.
00:30:18.680 What's going to survive is old.
00:30:21.940 So everybody thinks, well, technology is going to make it.
00:30:24.260 What survived is old.
00:30:25.420 It's the reason gold and silver will survive is because it's old.
00:30:29.860 Bitcoin may not survive because it's new.
00:30:32.960 So I'm not saying, I'm not telling you what to buy.
00:30:37.880 I'm just telling you how to think.
00:30:39.000 So Nazeem Taleb has a book called Anti-Fragile, which is good.
00:30:43.360 Excellent read.
00:30:44.260 It was fantastic.
00:30:45.140 He's a smart guy.
00:30:45.940 Oh, yeah.
00:30:46.140 But he writes about, you know, how we have in school today, we're raising snowflakes.
00:30:50.240 You have to have safe rooms.
00:30:51.480 You can't trigger.
00:30:52.980 You can't say anything.
00:30:53.920 So we're raising a bunch of snowflakes.
00:30:56.420 And he says, the guy that's going to survive is somebody who's not fragile, anti-fragile.
00:31:00.920 So what he says is this, whatever doesn't kill you will make you stronger.
00:31:05.420 So he says, when you go to the gym and you pump weights, you push 100 pounds.
00:31:09.760 That means the next time you push, you might go 105.
00:31:13.240 So bad times will make the strong stronger.
00:31:17.880 And bad times will make the snowflakes weaker.
00:31:22.220 So the thing is, you know, as my Mexican friends would say, get some cojones, you know, get some balls out there.
00:31:29.700 And get ready for whatever is coming.
00:31:31.560 Don't run and hide and say, oh, Trump should have saved me or Bernie is going to save me.
00:31:36.180 So the big thing is, this anti-fragile is good.
00:31:38.340 But another thing that you should know is the bigger something gets, i.e. our banks, the more fragile.
00:31:45.420 So the two big to fail companies are?
00:31:48.180 More fragile.
00:31:49.000 More fragile.
00:31:50.160 More fragile.
00:31:51.060 More fragile.
00:31:52.180 And the companies that will survive are like our companies because we're small.
00:31:58.620 Nimble.
00:31:59.680 Yeah.
00:32:00.100 We make quick adjustments, quick moves.
00:32:02.180 The bigger they are, the harder they fall, right?
00:32:04.080 When I have Nauseam Talib, anti-fragile, black swan.
00:32:08.340 Skin in the game.
00:32:09.160 Yeah, skin in the game.
00:32:10.140 Great book.
00:32:10.720 Great thinker, you know.
00:32:11.480 So you're working for a big company like Google, you might be safe today, but you might be gone tomorrow.
00:32:19.520 Whereas you're a little startup, you might have a better chance.
00:32:22.560 I'm not saying what it is, but there's something everybody can do.
00:32:25.700 Like I said, everybody can buy a $20 silver piece.
00:32:29.700 Everybody can afford $20.
00:32:31.000 But will they do it?
00:32:32.400 No.
00:32:32.720 They'll be at Starbucks sucking it down instead.
00:32:35.320 So what would the 30 to 35-year-old Robert Kiyosaki do right now?
00:32:37.940 What industry would you be looking at today to make your money?
00:32:40.580 I'd be in this business.
00:32:41.580 You would still be in this business?
00:32:43.200 Education.
00:32:43.780 Look at this.
00:32:44.560 Content.
00:32:45.100 Look at what we're doing.
00:32:46.200 Wow.
00:32:47.260 Look at what we're doing.
00:32:48.860 You know, I mean, I have several YouTube channels going out.
00:32:53.000 I don't know what I'm doing, but I have young people doing it for me.
00:32:56.680 So I'd be with technology.
00:32:57.980 Now the cameras will be obsolete, but you can buy a new camera.
00:33:01.820 Do you know what I mean?
00:33:02.420 I wouldn't invest in the camera.
00:33:03.740 I'd buy a camera, but I wouldn't invest in the company.
00:33:06.100 You know what I mean?
00:33:07.120 It's how you think about this right now.
00:33:09.940 So just know that those who are in big companies who think they're safe might be at the most at risk.
00:33:19.460 You know, if you're working for Bank of America or Wells Fargo, you might be at risk.
00:33:23.340 So you would position yourself more with startups than the bigger companies?
00:33:26.200 Small company.
00:33:27.340 Incredible advice, by the way.
00:33:28.760 Incredible counsel.
00:33:29.540 I don't like to give it.
00:33:30.440 I just know I think.
00:33:31.460 It's great counsel, though, but it's great perspective that you're giving.
00:33:34.400 Okay, so far, counsel on what to do with the marketplace is coming.
00:33:37.720 We talked about some precious metals, silver and gold.
00:33:40.520 Buy them, never sell, keep them.
00:33:41.840 Okay, great.
00:33:42.960 You know, find a way to be creative, kind of like your friends.
00:33:45.220 That house, four bedrooms, kids are gone.
00:33:47.140 Put a bathroom there, sell them. 1.00
00:33:48.340 You're making money.
00:33:48.900 Rent them.
00:33:49.320 You're making money.
00:33:49.940 Then the next one is don't work for a big company.
00:33:52.220 Work for more nimble, smaller companies and maybe content creation, education.
00:33:56.160 Use the platforms that we have, right?
00:33:58.800 There's something you said which was very interesting to me.
00:34:02.080 You said the fact that we are printing money.
00:34:06.820 We're in debt.
00:34:07.960 And your friends, when you're in South Carolina at this exclusive community, they're saying,
00:34:12.140 I love Trump.
00:34:12.740 The market's doing great.
00:34:13.800 It's $1,000, $29,000.
00:34:15.360 And they said, but also the debt is at the highest it's ever been.
00:34:18.220 So here's the way I see this, and I'm curious to know how you process this.
00:34:22.400 Do you think the reason why we're not really having the conversation about the big elephant
00:34:26.100 in the room, which is the, you know, say $100 trillion of unpaid commitments that we
00:34:31.320 have, not including the $22 trillion of debt that we have, we have Medicare, Social Security,
00:34:35.300 we have all this unpaid commitments that we may not include in debt that we have to
00:34:38.960 Russia, to Japan, not Russia, to China, to Japan, all this stuff that we have to pay
00:34:42.640 for, right?
00:34:43.500 Do you think the reason why none of the presidents are really talking about it is because
00:34:47.560 if they do, it's not an eight-year fix.
00:34:52.320 So whatever they do, if they campaign on it, it's a 20, 40-year fix.
00:34:56.860 So because they have no influence to fix it, so they're just kind of letting it go to the
00:35:00.400 next president?
00:35:01.040 They can't fix it.
00:35:01.980 Do you think that's why they're not talking about it?
00:35:04.300 And all they're doing is inflaming people.
00:35:07.400 You know what I mean?
00:35:07.920 They just talk about, well, Trump in the zipper, immigration and impeachment and all this.
00:35:17.560 It doesn't, they can't do anything.
00:35:19.720 So does that say that the current model of how we pick presidents, is that an effective
00:35:25.240 model?
00:35:26.200 Because, you know, if they can't do anything, like why would I want to campaign around paying
00:35:31.960 off the national debt when there's nothing I can do about it in four years?
00:35:35.280 Because the GDP is what?
00:35:37.220 3.6 trillion.
00:35:38.900 National debt is 22 trillion.
00:35:40.920 Even if I took the GDP and I made no one make any money, everybody paid taxes 100%, 3.6 trillion.
00:35:48.020 In four years, I wouldn't even pay off half the debt that we have.
00:35:50.320 No, and that's why, you know, Pocahontas, Elizabeth Warren talks about tax to rich, AOC, tax to rich. 0.86
00:35:58.320 Well, I hate to tell you this, but the rich don't pay taxes.
00:36:05.480 I cover it in fake.
00:36:08.240 It's, it's, it's pretty pathetic, you know, and it's legal.
00:36:12.480 You're, you're laughing at what, what are you laughing at?
00:36:14.460 How stupid our reporters are.
00:36:18.960 I mean, that's why these guys here, I love what these guys are doing, because they would
00:36:25.420 never let me say this on CNBC.
00:36:28.880 MSNBC would never let me say what I'm saying.
00:36:31.460 But now because of YouTube and all these, you know, the little guys popping up, we can say
00:36:36.380 what we want.
00:36:36.940 It's freedom of speech, except in school, I can't say anything.
00:36:40.020 But anyway, you know, this is the best time of all, but it's also the most dangerous.
00:36:44.460 And that's what Nazeem Tal was talking about.
00:36:47.320 If you're anti-fragile, if somebody punches you and you fall down, you go, thank you.
00:36:52.020 I'm going to come, I'm coming back stronger.
00:36:54.540 You know, that's kind of what's going to save you.
00:36:56.960 But if you're the guy who's, oh, you have to put me in a safe room and you can't say anything
00:37:01.760 that triggers me.
00:37:02.620 What are those guys, those kids say?
00:37:04.960 I don't want them.
00:37:06.460 You know, they're not going to make it.
00:37:09.040 There's something happening though.
00:37:10.300 There's, there's, there's something happening right now.
00:37:12.100 That's very weird.
00:37:13.460 I don't know if you watch the, uh, uh, Golden Globes.
00:37:16.480 Is that what it is?
00:37:17.040 The Golden Globes, Ricky, Ricky, uh, what's his last?
00:37:19.560 Gervais.
00:37:20.100 Did you watch Ricky Gervais's monologue at the Golden Globes?
00:37:22.640 No.
00:37:23.120 Oh my.
00:37:23.620 It's eight minutes.
00:37:24.580 After this, with your wife, watch this eight minute clip.
00:37:27.840 I'll text it to you if you watch it.
00:37:28.980 Okay.
00:37:29.060 It is absolutely incredible because what I noticed happening with politics today is the
00:37:37.980 snowflakes are given birth to people who are so sick of it.
00:37:42.960 And the people that are sick of it are not Republicans.
00:37:45.820 It's everybody.
00:37:47.020 It's like, because now the snowflakes are kind of offending Democrats.
00:37:50.220 Republic can't say this.
00:37:51.080 You can't say that.
00:37:51.540 You can't say this.
00:37:52.000 Committee can't say that.
00:37:52.800 Committee can't say that.
00:37:53.640 And the comedians are like, leave me alone.
00:37:55.640 I just want to tell a joke.
00:37:57.000 Right.
00:37:57.660 And so I almost think today.
00:37:59.760 Let me tell you a Rodney Dangerfield joke.
00:38:02.140 No, I could never tell it anymore.
00:38:05.520 That guy was so funny.
00:38:06.860 He was.
00:38:07.660 They'd hang him today.
00:38:09.020 Yeah, that would probably happen today.
00:38:11.060 But, you know, so today's comedians are like, listen, man, I feel like I'm handcuffed.
00:38:14.580 Let me tell a damn joke.
00:38:15.520 But I think content creators are pissing off ABC, CNN, Fox, NBC, all those guys.
00:38:23.520 I was just on a vacation with Steve Burke, NBCUniversal.
00:38:28.100 He says, we're in the spot right now.
00:38:31.560 He's saying that?
00:38:32.580 He's resigning next year.
00:38:34.920 The biggest media company in America.
00:38:36.880 He says, I told him about my little YouTube channel.
00:38:40.460 He said, you guys are killing us.
00:38:42.120 He said, you guys are killing us.
00:38:43.740 This is the NBC CEO saying you guys are killing us.
00:38:46.280 Yeah.
00:38:46.760 Streaming and all this.
00:38:47.960 They can't compete.
00:38:49.660 They're spending money to lose money.
00:38:51.680 And by the way, didn't they just start, they're launching a streaming company, something like
00:38:55.900 that.
00:38:56.060 NBC just announced it, right?
00:38:57.160 Yeah.
00:38:57.560 Yeah.
00:38:57.940 And end of spring.
00:38:59.980 And by the way, Disney's streaming company after two months is already valued at $100 billion.
00:39:04.400 It's all bullshit.
00:39:05.740 It's all bullshit.
00:39:07.320 It's valued at $100 billion already based on what Business Insider and some of the experts
00:39:11.020 are saying.
00:39:11.400 So, you know, but going back to it with the debt, what, how do, let's, you get elected
00:39:17.820 today to president.
00:39:19.680 First of all, say you're campaigning on debt and you can, your campaign is, we have to pay
00:39:25.880 off this $22 trillion of debt and you bring awareness to listen, no matter what we're talking
00:39:30.060 about, this debt is company.
00:39:31.200 If you think you love your kids or your grandkids, here's what they're going to be facing.
00:39:34.160 This is the situation they're going to be in.
00:39:35.280 And I'm going to sit there and I'm going to be like, oh my gosh, okay, let me see what
00:39:38.740 this presidential candidate, Robert Kiyosaki has to say.
00:39:42.260 Boom, you get elected, you win.
00:39:44.440 You're president.
00:39:45.600 What are you doing with the long-term debt to be able to pay that off?
00:39:48.420 Long-term.
00:39:49.060 Resign.
00:39:51.000 I don't, they can't, I don't see a way out.
00:39:53.760 Robert, you're saying there's no way out with the debt.
00:39:56.980 Do you see a way out?
00:39:57.860 I don't see one.
00:39:58.400 I don't, I'm curious to know what you, I don't know how, the math doesn't make sense
00:40:01.660 to me.
00:40:02.000 That's why what, what Talib is saying, Nazim, you want to get smaller right now. 0.53
00:40:08.360 You don't want to get bigger.
00:40:10.660 You know, it's almost like being a Navy SEAL.
00:40:13.080 You want to get into a small team.
00:40:15.100 Like at Rich Dad, we have a small team.
00:40:17.360 We trust everybody, we know everybody.
00:40:19.580 Been working together, most of us, 25 years.
00:40:22.460 And we don't let anybody else, it's a little tight, little group.
00:40:25.760 So small is bigger, not big is bigger.
00:40:30.600 Small is bigger.
00:40:31.580 Yeah, better, better.
00:40:32.980 Small is better.
00:40:34.260 Let me give you one more thing that's going on, which I just, because I like to study trends.
00:40:39.300 Back in the dark ages, every little town had a church in Europe and Asia.
00:40:44.940 They all had this little church, right?
00:40:46.220 Everybody rallied around God or Jesus or Buddha, whoever they rallied around.
00:40:50.200 Then during the Industrial Age, they rallied around like the war heroes, like the, you know, the Marine Corps, the Marines raising the flag on Iwo Jima and Robert E. Lee and the U.S.S. Grant.
00:41:02.960 So it went from agrarian age of religious to industrial age with valor or heroes.
00:41:12.580 You know what it is in the information age?
00:41:14.040 The victim.
00:41:17.780 We worship the victim.
00:41:21.220 When they start, you know, like they're tearing down Robert E. Lee statues.
00:41:25.740 Now, I'm not for slavery.
00:41:29.420 But why are they tearing that down?
00:41:31.320 That was history.
00:41:33.780 You know, everybody's a victim today.
00:41:36.020 Everybody's a victim, you know.
00:41:38.660 So my friend, you know, they say, well, we should give the blacks back their money. 0.97
00:41:42.220 We should pay them for slavery. 1.00
00:41:43.840 I said, good luck.
00:41:45.540 Well, what about the American Indian?
00:41:47.040 They got their land taken, too.
00:41:48.780 What about the Japanese?
00:41:50.100 We got locked away in internment camps.
00:41:53.340 So everybody now, you raise your hand, I'm a victim.
00:41:55.800 Everybody rallies around you.
00:41:58.340 I'm not saying it's right to be a victim.
00:42:00.420 It's not right to pick on people.
00:42:02.820 But today, the people we are worshiping are victims.
00:42:06.060 Look at when that Supreme Court justice was, the woman says, he raped me, but she couldn't 0.95
00:42:10.980 remember that he raped her or something.
00:42:12.540 Kavanaugh?
00:42:13.380 Huh?
00:42:13.700 Kavanaugh?
00:42:14.200 Yeah.
00:42:15.040 I'm going, holy mackerel, the poor guy.
00:42:18.080 She accuses him, but she can't remember.
00:42:20.360 And everybody just jumps all over the guy.
00:42:23.060 I thought you were innocent until proven guilty.
00:42:25.380 But today, if you say you said something, you said something mean, you did this, the whole
00:42:30.960 world wants to jump on you because you created a victim. 0.53
00:42:33.740 So what's going to bring America down is the victim mentality.
00:42:38.920 And we're in the middle of it.
00:42:40.360 That's Bernie Sanders.
00:42:41.660 That's AOC.
00:42:42.840 That's all these guys who just, oh, look at all the victims we got.
00:42:46.560 Look at all the homeless.
00:42:47.780 Look at all this.
00:42:48.960 Look at the student loan debt.
00:42:51.140 I'm going, yeah, look at it.
00:42:52.840 But giving them all money is not going to solve the problem.
00:42:55.660 How did we get here?
00:42:56.660 What's that?
00:42:57.100 How did we get here?
00:42:57.980 I don't know.
00:43:00.800 You know, my standard pat answer is no financial education in schools.
00:43:05.020 What do they teach you about money?
00:43:06.720 So everybody knows in 1971, Nixon took the dollar off the gold standard.
00:43:11.020 And what does that mean?
00:43:12.160 Fake money.
00:43:13.500 That's why I call it fake money, fake teachers, fake assets.
00:43:16.760 As soon as they could print money, anytime throughout history, they printed money.
00:43:20.760 The money disappeared.
00:43:21.740 It went broke.
00:43:23.220 Every country that printed money went broke.
00:43:26.020 We're going broke.
00:43:27.280 U.S. is going down.
00:43:28.760 Japan is going down.
00:43:30.020 Europe's going down.
00:43:31.520 South America's going down.
00:43:32.740 Mexico's in serious trouble.
00:43:34.600 Look at Venezuela, the richest oil country in the world.
00:43:38.960 They're going down.
00:43:40.460 Zimbabwe going down. 0.92
00:43:42.340 Because we're run by these kleptomaniacs or something. 1.00
00:43:47.340 They're called politicians.
00:43:49.520 Same as in Who Stole My Pension.
00:43:51.120 The same guys that robbed the world are robbing their pensions.
00:43:56.600 Highly, highly educated elites.
00:43:59.480 I went to Harvard.
00:44:00.640 I went to Yale.
00:44:01.460 I went to MIT.
00:44:03.200 I'm smarter than you.
00:44:04.380 I know everything.
00:44:05.140 Let me take your money. 0.99
00:44:08.760 That's what we are today.
00:44:09.960 They're all poor dads who think they're smart.
00:44:12.760 You meet guys like that, right?
00:44:14.060 They got their PhD.
00:44:15.460 They think they're smarter than Jesus.
00:44:17.960 They make me nauseous.
00:44:19.160 Yeah, feelings mutual.
00:44:22.300 They're filled.
00:44:23.120 They're all over the place in the financial industry, by the way.
00:44:25.840 You see them everywhere.
00:44:27.240 So your answer to the long-term debt, there's no solution.
00:44:31.540 You don't think there's a solution?
00:44:32.400 No, my solution is always the same.
00:44:34.240 Pull back in.
00:44:35.680 Create your own little fire team.
00:44:36.880 I'm a Marine, you know?
00:44:38.760 We just create a little fire team.
00:44:41.200 I have my accountants, my attorneys, my bankers.
00:44:44.420 I have my little team.
00:44:45.820 Go smaller.
00:44:47.620 Put your own team together.
00:44:49.100 I'm talking about country-wise.
00:44:50.900 What's that?
00:44:51.340 I'm talking as a country.
00:44:52.940 I can't fix that.
00:44:55.400 I can save myself.
00:44:57.240 What if Donald Trump calls, President Trump calls you to be as a counsel?
00:45:00.840 How do we get rid of this debt?
00:45:02.780 Would you say, I can't be part of the advice because I don't think there's a way?
00:45:06.380 I'd still hunker down.
00:45:07.680 But how would you solve it for him if he wanted you as a counsel?
00:45:09.660 I wouldn't.
00:45:10.440 Or you wouldn't do it?
00:45:11.240 No.
00:45:12.060 Why should I?
00:45:13.480 I'm going to get rich when it falls down.
00:45:15.040 So it's irrelevant to you.
00:45:18.460 So you're simply looking at it from the libertarian standpoint of I'm going to take care of myself
00:45:24.180 and that's what I can control and I have my team to help me with that.
00:45:28.200 Everything else is out of my control.
00:45:29.360 I'm not touching it.
00:45:30.060 Yeah, but there's one thing that's different.
00:45:32.380 Marines fight as teams.
00:45:34.400 I have my own fire team.
00:45:36.120 I have the best accountant, the best attorney, the best banker, you know?
00:45:40.800 You've got to have politicians on your team too.
00:45:42.620 The average guy has a financial planner.
00:45:46.400 So you've got to have politicians on your team too.
00:45:48.020 Yeah.
00:45:49.160 Trump is my friend.
00:45:51.960 Governor is my friend.
00:45:53.660 City councilman is my friend.
00:45:56.040 You've got to play the game.
00:45:58.600 Don't change the world.
00:45:59.800 Change yourself.
00:46:00.920 That's what I say to every person out there.
00:46:02.620 Now, if you don't know anybody, let's say you're an employee of Google, you're screwed.
00:46:07.260 Because you don't know anything.
00:46:09.500 Who's your accountant?
00:46:10.520 Who's your attorney?
00:46:11.180 Can you read a financial?
00:46:12.820 Do you know how to trade a stock?
00:46:14.980 Do you know how to short a stock?
00:46:18.280 No.
00:46:18.800 But my team can.
00:46:21.700 So smaller is better at this point in time.
00:46:24.900 Smaller is better at this time.
00:46:25.880 How do you think President Trump is?
00:46:27.380 I know you and him wrote a book together.
00:46:28.980 Two books.
00:46:29.680 Why We Want You to Be Rich?
00:46:32.280 Why We Want You to Be Rich and Midas Touch.
00:46:33.400 And Midas Touch.
00:46:34.160 Which, by the way, I read Why We Want You to Be Rich.
00:46:36.680 And I have not read The Midas Touch.
00:46:38.320 But I read Why We Want You to Be Rich.
00:46:40.320 Yeah, you guys wrote two books together.
00:46:41.620 I remember that.
00:46:43.360 I'm not Republican or Democrat.
00:46:45.160 I'm just, we wrote together as teachers.
00:46:47.500 Like, we're teaching right now.
00:46:48.800 I'm not trying to sell anything.
00:46:49.720 And this was actually a good book I read.
00:46:54.620 How are you seeing how he's doing right now?
00:46:56.800 If you're looking at him from the outside,
00:46:58.540 how's he doing right now as a president?
00:47:02.040 I think he's doing great, personally.
00:47:04.200 You think he's doing great?
00:47:05.460 But, you know, he's got too many knives after him right now.
00:47:12.980 Yeah.
00:47:13.780 But, you know, if he's got, he's talking to China.
00:47:16.460 He's at least talking to me.
00:47:17.820 He's talking to Kim Jong-un.
00:47:19.000 He's talking to Putin.
00:47:20.560 He's talking to people.
00:47:22.220 He goes to Davos and he talks to people.
00:47:24.940 And Obama, I'm not Republican or Democrat,
00:47:26.680 Obama pissed everybody off.
00:47:29.080 Did you know when Obama pulled up to China,
00:47:32.160 nobody met him?
00:47:34.140 But they were all at the carpet for Trump.
00:47:36.960 When Obama talked to Putin,
00:47:39.580 they got into a fight.
00:47:42.240 So, you know, Trump is kind of a dictator.
00:47:46.100 He is.
00:47:46.400 But do you need a dictator to talk to a dictator?
00:47:50.020 You don't need a nice guy to talk to a dictator.
00:47:52.980 Obama's a nice guy.
00:47:53.900 He's from Hawaii.
00:47:54.460 I'm sure he's a nice guy, you know.
00:47:56.500 But they laugh at him.
00:48:00.060 And besides, he's a guy,
00:48:01.300 there was a book called Lucifer's Banker.
00:48:04.020 It was Obama who paid Iran $150 billion.
00:48:08.160 And that money came out of Switzerland.
00:48:10.340 And I met the Swiss banker who released the money.
00:48:14.080 And Obama released the money.
00:48:17.480 The $150 billion.
00:48:18.540 It didn't do any good.
00:48:21.900 No.
00:48:23.120 So Hamas got it. 0.96
00:48:24.460 They laugh at him.
00:48:25.820 Do you know what I mean?
00:48:26.640 When you were in school,
00:48:28.220 if there was a bully,
00:48:29.900 did being nice to the bully help?
00:48:31.880 No.
00:48:32.540 No.
00:48:33.180 You either go up and punch it out or run away.
00:48:37.000 But you don't try and talk him out of being a bully.
00:48:39.260 I think, well, AOC could.
00:48:44.060 You know, hi.
00:48:47.580 She's pretty cute. 0.98
00:48:48.620 Yeah, I thought to her.
00:48:51.080 But it's like schoolyard, right?
00:48:53.520 And that's what it is.
00:48:55.340 So I was never the smartest guy.
00:48:56.920 I wasn't the toughest guy.
00:48:58.120 I played football and all this.
00:48:59.960 But I hung out with the guys who were tight.
00:49:03.060 You know, we just had a little tight group.
00:49:05.600 Got through school.
00:49:06.520 You think he's going to get reelected?
00:49:07.900 Yeah.
00:49:08.340 He's going to get reelected.
00:49:09.180 Unless something happens, if you know what I mean.
00:49:11.960 Any plans for writing another book together, you and him?
00:49:14.260 We were going to in 2015.
00:49:16.220 Then he called me and he says,
00:49:17.600 guess what, I'm running for president.
00:49:19.980 And he announced it on my radio show.
00:49:22.800 I was the first guy.
00:49:24.020 I said, well, congratulations, good luck.
00:49:26.000 And I'm going to stay away from you.
00:49:28.240 You said I'm going to stay away from you.
00:49:29.540 It's a target.
00:49:31.200 Do you know,
00:49:31.740 all the Caesars right there,
00:49:34.260 there was like 300 Caesars.
00:49:36.040 Only like 20 died a natural death.
00:49:38.680 The rest were all murdered.
00:49:42.500 That's what Talib was, Nazeem Talib.
00:49:45.340 He says, the bigger you get,
00:49:47.020 the bigger target you get.
00:49:49.060 He says, the most successful country is like Switzerland.
00:49:52.700 Who's the president?
00:49:53.460 No one knows.
00:49:56.060 But every country where you know the president,
00:49:58.400 they're just big, they're fat, they're bloated.
00:50:01.260 And the most successful countries are small, like Singapore.
00:50:04.620 So that's why, you know,
00:50:07.440 all the guys,
00:50:08.020 so if you're small and listening to this program tonight,
00:50:10.740 I would say you just pull your horns in,
00:50:14.120 wait for the crash,
00:50:15.020 but have your team together.
00:50:17.460 You know, even,
00:50:18.160 and I trained as a marine sniper.
00:50:20.220 Even we had a fight,
00:50:21.440 we had a,
00:50:22.440 designated snipers.
00:50:24.060 We fought as teams.
00:50:26.020 We never go by themselves.
00:50:27.920 And in school,
00:50:28.740 they teach you to be the A student,
00:50:30.120 do it all by yourself.
00:50:31.380 Well, the A students are ruling the world.
00:50:32.840 They don't know anything.
00:50:34.480 Whereas I have my little fire team, you know,
00:50:36.660 my accountants, my attorneys,
00:50:37.900 my bankers, my real estate guys,
00:50:39.900 my financial planners.
00:50:41.160 We're kicking ass.
00:50:42.640 Because we stay small,
00:50:43.780 we stay low.
00:50:46.200 Let me ask you this question
00:50:47.420 when you're talking about that team.
00:50:49.620 When you're putting your team together,
00:50:50.840 what are some things you look for as a team?
00:50:52.700 And what does it take
00:50:53.340 to build a stronger bond with your team?
00:50:54.680 It takes time.
00:50:55.660 Okay.
00:50:56.000 That's all.
00:50:56.920 You know, because,
00:50:58.340 you know, people,
00:50:58.940 when it comes to money,
00:50:59.580 people lie.
00:51:01.660 So it takes time to build that trust.
00:51:03.780 Can you trust this guy under fire?
00:51:05.740 That's why I love the Marine Corps,
00:51:07.300 you know.
00:51:07.780 We may not have liked each other,
00:51:09.940 but we went into battle,
00:51:11.140 we're all Marines.
00:51:12.540 I could trust.
00:51:13.420 So it takes some time
00:51:14.120 to put a team together.
00:51:14.940 Yeah, and a lot of flakes out there too.
00:51:18.620 So like,
00:51:19.700 a couple of my partners,
00:51:21.060 we're 40 years together.
00:51:22.440 40 years together.
00:51:23.900 We know each other like brothers.
00:51:27.300 It's the most important thing
00:51:28.540 is trust, confidence,
00:51:30.200 loyalty, integrity,
00:51:32.160 diligence.
00:51:33.720 Cover my back.
00:51:35.560 Robert, do you consume content or no?
00:51:37.620 Hmm?
00:51:37.920 Do you consume content?
00:51:39.180 What's that?
00:51:39.900 Content online.
00:51:40.740 Do you consume content?
00:51:41.860 Oh, yeah.
00:51:42.540 I study constantly.
00:51:43.720 What content are you consuming?
00:51:46.260 Well, I love YouTube.
00:51:48.440 You know, I'm always on there
00:51:49.320 checking, I'm listening.
00:51:50.400 If somebody says X
00:51:52.080 and the other guy says Y,
00:51:53.380 I listen to both.
00:51:54.220 I want to know both sides.
00:51:56.120 That's what I love about YouTube.
00:51:57.780 I can check something.
00:51:59.160 Like this Bitcoin versus gold argument.
00:52:02.520 You got Peter Schiff
00:52:03.420 and you got Max Keiser.
00:52:05.160 You know,
00:52:05.620 I listen to both guys.
00:52:08.100 So, you know,
00:52:08.600 Schiff trashes Bitcoin
00:52:10.040 and all this stuff.
00:52:11.900 It doesn't hurt
00:52:12.460 to listen to both sides.
00:52:14.440 So that's why I love it.
00:52:15.260 So you do consume content?
00:52:16.580 Oh, God, yeah.
00:52:17.300 I'm studying constantly.
00:52:18.460 Any final thoughts
00:52:19.200 before we wrap up?
00:52:20.280 Anything we should be
00:52:21.120 thinking about right now
00:52:22.080 that last words
00:52:23.040 I'll give to you
00:52:23.600 on what somebody
00:52:24.200 ought to be thinking
00:52:24.960 about right now
00:52:25.500 with the current economy
00:52:26.260 and current place
00:52:26.780 that we're in?
00:52:28.420 Well, again,
00:52:29.040 I love what Nazem Talib wrote.
00:52:31.180 You know,
00:52:31.320 you've got to be
00:52:31.840 anti-fragile today.
00:52:33.160 You can't be a snowflake.
00:52:34.520 And our schools
00:52:35.040 are pumping out
00:52:35.680 snowflakes en masse.
00:52:37.600 And I hope your kid
00:52:38.280 isn't one of them
00:52:38.960 because we screwed the kids. 0.89
00:52:41.300 There's,
00:52:42.980 student loan debt
00:52:44.080 is now bigger than,
00:52:46.000 1.6 trillion
00:52:46.980 is now bigger
00:52:47.700 than the subprime debt.
00:52:49.420 We've screwed everybody,
00:52:51.140 including our kids.
00:52:53.180 And that's why
00:52:53.740 there's no financial education
00:52:54.960 in school.
00:52:56.380 That's why everybody's fake.
00:52:58.320 I wouldn't trust
00:52:58.980 the schoolteachers' advice
00:52:59.980 for anything.
00:53:00.920 Nice people,
00:53:01.620 my whole family
00:53:02.300 of schoolteachers,
00:53:03.420 they don't know
00:53:04.000 anything about money.
00:53:05.440 Nothing.
00:53:06.140 Nothing.
00:53:07.040 They want their pension
00:53:08.160 and paycheck.
00:53:09.760 Who would you listen to?
00:53:10.920 If you're saying
00:53:11.400 don't listen to teachers,
00:53:12.240 who would you listen to?
00:53:12.920 I listen to guys like you.
00:53:15.280 I listen to Max Keiser.
00:53:17.300 I listen to Schiff.
00:53:18.360 I listen to Taleb.
00:53:20.520 But I listen to
00:53:21.040 all the whack jobs also,
00:53:22.420 you know,
00:53:22.580 because
00:53:22.760 they might be right.
00:53:26.340 What I love about
00:53:27.320 YouTube is so fast,
00:53:28.380 you know,
00:53:28.480 mostly like 10 minutes,
00:53:29.480 you know.
00:53:30.080 Yeah.
00:53:30.740 Okay, good.
00:53:31.560 Next,
00:53:32.100 I got my shot
00:53:33.140 of a whack job.
00:53:34.420 So having said that,
00:53:35.220 this is the second time
00:53:35.880 we sat down together.
00:53:36.620 Obviously,
00:53:36.860 every time we sit down
00:53:37.560 with them,
00:53:37.820 the conversation
00:53:38.360 is just fascinating
00:53:39.620 to get into Robert's brain
00:53:41.760 and Robert's mind
00:53:42.700 too.
00:53:42.900 So Robert,
00:53:43.240 thank you so much
00:53:43.740 for being here.
00:53:44.040 Thank you.
00:53:44.060 Give it the good work.
00:53:44.820 Yes,
00:53:45.080 thank you.
00:53:45.520 We'll do it.
00:53:45.740 Congratulations on your success.
00:53:46.680 Thank you.
00:53:47.100 Thank you so much.
00:53:47.960 Thank you.
00:53:48.480 Thanks everybody
00:53:49.040 for listening.
00:53:49.720 And by the way,
00:53:50.160 if you haven't already
00:53:50.800 subscribed to Valuetainment
00:53:52.000 on iTunes,
00:53:53.100 please do so.
00:53:54.260 Give us a five star.
00:53:55.640 Write a review
00:53:56.300 if you haven't already.
00:53:57.240 And if you have any questions
00:53:58.240 for me that you may have,
00:53:59.400 you can always find me
00:54:00.340 on Snapchat,
00:54:01.240 Instagram,
00:54:01.980 Facebook,
00:54:02.540 or YouTube.
00:54:03.200 Just search my name,
00:54:04.080 Patrick David.
00:54:04.740 And I actually
00:54:05.840 do respond back
00:54:07.080 when you snap me
00:54:07.960 or send me a message
00:54:09.000 on Instagram.
00:54:09.960 With that being said,
00:54:10.680 have a great day today.
00:54:11.760 Take care everybody.
00:54:12.520 Bye bye.
00:54:12.780 Bye bye.