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This is the Rich Dad radio show the good News and bad news about money here’s Robert Kiyosaki Well this is the Rich Dad radio show and Welcome to the program the good news and Bad news about money I’m here with Kim And we have two very special guests here Mark Boss an old friend George Gammon You know he’s uh you guys have been I hate to be the old guy I hate to tell You that I I remember you know I think in 20 or 30 you’re going to say yeah I worked With him you know like I talk about guys Who are dead now yeah you know most of My teachers are dead And so you’re gonna say yeah I remember Him when he was alive and I’m going oh God but it’s an honor you know it’s Really an honor to meet Um Comrades you know this whole thing so Mark give us a quick uh background and I Started investing really really young at 18 years old started buying and selling Real estate coming out of a massive Crash in California so learning how to Profit out of a out of a bust Um your books were very instrumental in Me at a very young age and I continued To build that up Um I told Robert that it was his book Was one of the two most influential Books on my life that and think and Grow
Rich only before well and and the Bible Which I still read every day Um but uh but but really because it Changed the way I think yeah and that’s The most important thing and then from From there I can go chase the Information I need so anyway I did Really well with real estate did really Did really well with business Fortune 500x it’s 25 million dollars in Development but in 2008 I was on the Wrong side of the wealth transfer and I Didn’t I didn’t know about wealth Transfer the time and so it was that Traumatic event that made me go hmm I Was really good at making money but what Is this whole financial casino going on Over here because I don’t know about That and to interrupt you That’s why this I love this book you States bailout is the name of the game Yeah and what they do is they crash the Markets when the SNL crisis just crashed Holy crap and they bail out the rich as They shut you know I mean depends on Your point of view yeah and so it’s Always bailout after bailout after Bailout after bailout but the problem Never gets solved it just gets worse Yeah so yeah it was really it was really At that point where I learned about the Wealth transfer and I learned I learned A concept that money wealth transfer Yeah well I’m gonna explain it right now
So I learned a concept and that’s money Is like energy it doesn’t disappear it Transfers and so then I realized when I Lost all my money someone else got it Thank you and I learned this concept so Someone else took my money and I Realized at that point that these wealth Transfers happened during times of like That and I vowed to myself that will Never happen to me again okay George one Minute intro about when was your wake-up Call when was my wake-up call yeah oh Jesus probably the same time frame but It happened in a different way I didn’t Lose everything due to the collapse in The economy but I lost almost everything Due to getting in a in a battle with a Politician but anyway we want to have a Moment of silence for dear comrade he Got he’s a casualty in the battle yeah He’s fighting back he’s fighting back You know Peter Schiff uh dear friend of Ours for years and years I know some of The real estate Crews and he is Outspoken and his father is a combatant Also you know his father was thrown in Jail and all this so we fight That’s why what we’re doing today is Important simply because due to the Magic of social media which has also got His own censorship problems you know I Get I’ve been taken off several times Because the Communists still run big you Know big brother is Alive and Well in
Silicon Valley as we all know you know They censor us yeah but still it gives Us a chance to fight back So we want to have a moment of silence For our brother Peter Schiff who just Got hammered because Kim and I got Hammered Any any questions about anything we Covered so far Um just a quick question because we’re Talking about censorship and being De-platformed we talked to Dinesh D’Souza Um earlier this week and he had Mentioned moving his stuff to parlor and Rumble as a way to kind of avoid maybe Being the platform to have either of you Considered that move to those platforms Yeah I mean we’re talking about it on The drive here Just as a way to take our content that We shoot to YouTube and simultaneously Sending it to another platform where You’ve got some diversification and yeah I I haven’t done it yet but I’m Definitely trying to figure out how to To get there especially as my channel Grows you know we just hit 200 000 Subscribers so it’s it’s now becoming It’s weird for me to even say it but It’s kind of becoming this brand and I’ve got to be more cognizant of that Moving forward Yeah I’ve I’ve set up accounts uh
Multiple accounts so I do have a parlor Account although I don’t use it I did Set up a new account on Library which is Like a different YouTube a decentralized YouTube but I was thinking as we were Talking right now Um it’s like it’s the network effect Right so people need to move over there Or else nobody wants to go over there And what I was thinking is as content Creators Um and I just thought of this as we were Talking we should almost and I might Just start making special content that Only goes to that platform yes you drive Traffic hey I’m going to make uncensored Content if you really want to hear what I have to say go check it out there and And really use that to push if if more Content creators got together and Started pushing people to those Platforms it would it would take hold so We’re not against YouTube we love you Guys We stand for freedom of speech here and You know and we don’t want to trash Anybody yeah absolutely and what’s great About a free market capitalist Society Is that when you do have an entity that Is becoming maybe a monopoly then the More Draconian they become the more it Incentivizes entrepreneurs to go out There and start the next Google the next Facebook and I understand there’s a
Network effect but let’s remember that Google wasn’t the face first Google it Was Yahoo Right where is Yahoo no one even knew What Google was yep and Steve Jobs Didn’t come out with the first iPod You know that that was not the first Digital MP3 player right and also all The Facebook what happened to Myspace Right so so I know there’s a good Argument for the network effect but it Is possible to Dethrone these Giants as Long as we stick with our fundamentals Of free market capitalism in low Regulation to allow those entrepreneurs To go out there and slay the Giants but It’s really tough you know you you start Well here’s here’s my little company Let’s call it Myspace what was this fact Tom Anderson Tom a great guy you know he Said there’s baseball cap he’s from San Francisco you love the Giants you know And all this stuff he starts Myspace but He gets offered billions of dollars You’re a kid Going through college You know working he told the story time Matters is working he’s working in the You know he put he puts himself to the School by working the cafeteria the Hard-working guy and then somebody Offers him I think it was Murdoch or Something right Rupert Murdoch of 400 Million yeah
If you’re 25 years old and you got no Money you take it you take it But sometimes and I mean going back to I Mean when you probably first started Investing correct me if I’m wrong but It’s all about the Nifty 50. yeah yeah Right well I never bought stocks I Didn’t trust them yeah but but the point Is where’s the nifty 50 wow for those Who may not know then it’s all tough Nifty 50 and this guy records talks About this He said back in the 50s and 60s people Didn’t invest in stocks yeah they Invested in bonds yeah and only people Who invested in stocks were gamblers and Now today you know like this thing here And all this who’s told my pension every But the 401K everybody is in stocks and Bonds And they forced us to yeah that’s right Yeah they dropped the rate so low you Have to go out the risk curve for the Risk curve you have to take more risks If you go back in history you’ll see That really the world Hit its really Prosperity Peak when we had money and People were able to specialize and so Money allowed me to specialize in what I’m good at you specialize what you’re Getting we can just trade and so we’ve Been able to do that and what’s happened Now is that we can’t specialize if I’m a Brain surgeon I can’t just be a brain
Surgeon I also have to be an investor Yeah right and if I had money that could Hold its value I could just be the best brain surgeon In the world and my money could hold its Value at least but now we’re forced to Be speculators investors gamblers Whatever if I could say something about This book The Creature From Jekyll Island the problem with the US dollar is You have to spend it You know it wears out in your savings Account so you’re sitting there you know They’re printing it and then they’re Dropping you know the inversion of the Yield curve they’re dropping the Interest rates on it So you’ve got to spend it yeah and the Reason so many people are getting Hammered financially is psychically they Know if they don’t spend it it’s like They said about Firestone Tires is the Only tire that wears out in your trunk I’m not against not against Firestone But it was a kind of a joke or you do Yeah a joke but anyway So you save money and the fed’s printing It yeah but it’s a great point because Since 1913 when we were blessed with the Fed the dollar has gone down by 95 but What most people so now we’ve got to a Point where people think that’s normal But let’s look back at the 1800s right From 1800 to 1900 a hundred years
Prices went down by 50 percent it’s Supposed to go so you’re purchasing Power supposed to increase over that 100 Year period if you just would have kept Your money in the bank not including the Rate of interest you’re getting either Yeah but the thing that uh you’re saying Is that what entrepreneurs do is they Drop prices because you can’t go into The market and say hey guess what I’m Going to raise the price on this well They just go to somebody else yeah but Your job as an entrepreneur is to bring The price down yep whereas if there’s Competition Free market if you’ve got a free market And they keep the prices going up and Human beings human beings innately just Want to Um have deflation right so instead of Carrying 10 loads I’ll make a Wheelbarrow right like everything we do Is about efficiency and it’s about and So that’s just natural another way of Saying it when there’s deflation but They’re afraid of a depression deflation Is that means your dollar buys more That’s right so it’s good for the saver Depression or deflation is good for for The saver right and but that’s why these Guys keep jacking it up yeah and to the Point now where they even have an Inflation Target right so what that Means is they want the prices to go up
They want you to become poorer every Single year that’s basically what They’re saying and the rich get richer And I just ask people this simple Question would you rather have your Dollars buy more stuff in the future or Less stuff All right So I mean Kim and I uh we saved gold and Silver are now Bitcoin Did you see uh PayPal just announced That they’re going to start letting People buy and sell Bitcoin yeah but you Hear what Chef said about that I love Schiff and he was instrumental His opinion on bitcoin means about this Much his opinion of equipment about this Much but you hear what he said about Bitcoin and he doesn’t get he he makes The case for Bitcoin with his argument Against it I don’t know so let me tell You what wait wait wait that’s why I Love YouTube because I can listen to Both sides really quickly that’s right Go ahead so his argument about about Bitcoin is that it’s only used for Crim By criminals and for illicit Transactions records That proves its use case why would Criminals use it because it’s outside The system it’s censorship resistant Rebel capitalists right that’s the whole Use case of it the government can’t Seize it steal it prevent you know
Prevent transactions so what he’s Claiming is the problem with it is Actually not the bug it’s the feature Right and the other thing that happened Was I started buying solver in 64. That’s how old I am when that when I saw The little copper tins or on the dimes And quarters I went what is this and That’s gresham’s law and gresham’s law Is what that’s right what is Gresham That means that the uh the the bad money Chases out the good money so basically If you’ve got this bad money this Fiat Coming into the system yeah people won’t Value it therefore The Horde things like Commodities and things that actually Have True Value so gresham’s law says People aren’t stupid they know fake Money and some a little kid in a minute I’m 17 years old looking at what is this Copper on this dime on the quarter and a Half dollar I’m going And gresham’s law says we intuitively Know that’s why I called gold and silver God’s money and Bitcoin people’s money You know we manage it so anyway I go to The bank I take my ice a caddy and I Would take my dollars and I’d buy a roll Of Dimes or something and I’d go through All the times anything with copper on it Went back to the bank and I held the Dimes and previously I had this huge bag Of dimes quarters and half dollars and Then I went to school in New York in 65
And my mother spent it she didn’t get Gresham sleep but you kept the ones that Were the value yeah I kept the real Medal that were real yeah inside this Big bag of coins and the problem this is Why I’m saying I love Bitcoin because Those coins are heavy yeah you know so I Remember that and I said oh I thought I Was rich though you know so I go off to I go home I’m gonna go to school in New York I go to Vietnam I buy my first gold In Hong Kong because it was illegal for Americans to buy gold which I thought Was interesting you know why is it Illegal so I come home I think I’m rich I got this bag of silver coins and my Mother didn’t get gresham’s law she Spent it took it to the laundromat I was poor mom I want to add something To it right I want to add something to What you just said right so uh gold and Silver being God’s money but Bitcoin Being the people’s money and so to add To that point really is the thing Bitcoin is a thing but yeah what I want To add to that is the people’s money Right and so one of the biggest Arguments I hear about Bitcoin is won’t The government just ban it right so Let’s think about this right Bitcoin and They say the government will never adopt It no the government won’t it’s the People it’s the people’s money but to to That point right so Bitcoin or PayPal
Announced they’re going to support Bitcoin and it’s kind of a trap you Can’t really get it off the system you Can’t really use it but it exposes about 350 million people to bitcoin and it’s Kind of a gateway drug so they’ll start To use it and go wait a minute I can’t Get off the system I’ll move over here Here’s my point within the next year I Would imagine we’ll have over 1 billion People using Bitcoin so to everybody’s Point that says won’t the government ban It I say Are you admitting defeat the people Don’t get their way we can’t have a Revolution revolutions don’t ask for Permission when there’s a billion people Using Bitcoin the government’s aren’t Going to have much of a choice yeah you Know what when the price when the value Of the dollar goes down the supply goes Up what’s wrong with that picture that’s Why I enriched it I would say saver is a Loser they’re saving you know our whole Family saves money they save stocks they Say they said why you guys doing that They’re printing it yeah you’re Basically saving a depreciating asset Yeah Yeah they’re not even depreciate my Netflix Yeah and depreciation and an asset for Every single other asset like it has Gone to zero yeah yep yeah history yeah
That’s right hey you just said God bless The Fed so I would say as bad as they Are for most people if you understand The game they could be a good friend Thank God thank you thank you to add to That um think about Um so as entrepreneurs we solve problems Entrepreneurs aren’t greedy they make Money by solving other people’s problems Which is what we want and it just makes Me think of where where the world is at Today and where it’s rapidly going which Is people aren’t allowed to have Adversity anymore you’re not allowed to Hear anything that makes you mad it’s Worse than that and and uh so this whole World is trying to create this safe Space where there’s no such thing as Sorrow or or or dis discontent and uh But that’s what is needed to give us That so we’re talking about right now That’s what we need to give us that kick In the back foreign What as the economy worsens and people Get sicker and all this they’re looking For victims And he says today it’s victims seeking Marketing to victims yeah yeah right so All the losers out there are saying You’re a victim join us go against Trump All you victims out there join us and Instead of seeing this whatever tragedy Be it covet or money or whatever it is As the best thing that happens to you
The Socialists or the radical left wants You to think you’re a victim right and That’s why Bitcoin gold and silver are Going to go through the roof because We’re producing we’re Mass manufacturing Victims right now yeah that’s the Identity politics yeah it’s taking away Hope if you look at how socialism was Brought into areas like Venezuela or Cuba or something like that it’s it’s Always because the the people at the Bottom of the socioeconomic ladder feel As though nothing they can do can get Them to the middle class so they’re Stuck there their children are stuck Their grandchildren are stuck so you Have to have this revolution you have to Steal from the capitalists or the Producers and distribute equally right Or you’re never ever going to get out of This rut where in the United States when I grew up it was hey you go out there You work hard you do what you need to do You you conduct business with Integrity You produce a product that the market Wants and you’re going to be successful Therefore in the 70s and 80s or 90s if They were to try to introduce socialism Like they are today I think the majority Of Americans would have said pound sand We don’t want anything to do with it Because we have hope but now they’re Trying to take away that hope so they Can introduce socialism and take us to
This socialist Utopia so um do you guys Think that we’ve gotten a little too far Down the road with this push towards Socialism to turn back or do you think It’s just a small minority of people and That are just making a lot of noise I watched Dennis’s movie the trump card And I won’t say that it furthered me Along but it definitely reinforced my Position that I think that even if Trump Wins he is going to hold back the tide a Little bit longer but the push to Socialism is inevitable at this point And I don’t really see it reversing Course until we have major hardship and Enough people realize how bad it is Unfortunately and I hate to say that uh I don’t think a lot of Americans would Want to go down that path but if you Start talking to them about hey should Businesses be shut down right now should The FED be printing money should we be Sending out these stimulus checks should We be doing X Y and Z then they say oh Yeah of course well yeah that makes a Lot of sense but they just they haven’t Studied it enough they’re not educated Enough to know that that’s taking us to That path very quickly and you know they Say the road to hell is paved with good Intentions right and I think that’s kind Of what we’re dealing with in the United States will we ever get to a point where They call it outright socialism probably
Not because it’s just got such a Negative brand but no it’s Democratic Social oh yeah excuse me so then they Just change the brand name but it’s Still the the same thing and it at the Net result is the government is Controlling the means of production and Look at what the fed’s doing with the Bailouts you know and and the government At certain point all these businesses Are being propped up these uh zombie Companies that should be allowed to go Out of business but then all of the Equity or maybe the debts going under The fed’s balance sheet I’m that’s the Path that we’re going it says people Don’t understand the FED they don’t Understand the the plumbing and the Shadow banking system Can I add one point under that real Quick before we do so to answer your Point uh your question I believe this Marched towards socialism at least in The United States is kind of set and Maybe Ubi mmt yeah we can we can slow it Down but it’s but it’s marching on but There’s one thing that gives me hope for The future and it’s Bitcoin and the Reason why it gives me hope for the Future more than anything else that we Have out there is because it changes Everything that we know about money so As a kid growing up I know people who Came from Iran or came from South Africa
And when they left those countries they Had to leave all their money with them Okay because you can have all the gold You want but good luck trying to Transport it yeah you can have all your Money in the bank you can have your real Estate but you can’t move the money your Wealth away right now as you said many Times you can know 12 words in your head And you can have your wealth with you Anywhere you go I I have the Biden Effect she’s going to remember it for You but my but my point is so this this Is this is an interesting point so in The U.S I see the march of socialism Going to continue but what I’m hopeful For is when we have competition we get Better products better service better Prices we’re already seeing States Compete Texas says Elon Musk come from California we’ll set you up but we’re Going to start seeing countries compete And countries will say we don’t wear Masks over here we allow capitalism over Here and they’ll start attracting people And because we have Bitcoin That will work now I can go there and Have my wealth it used to be okay you Can leave our country but you’re you’re Going broke and now a lot in the Bahamas Especially they have like economic Citizenship you pay a hundred thousand Dollars well what good is that if you Can’t take your money but Bitcoin
Changes everything and it will allow This global citizenship which will then Create this competition I believe and so That’s my hope for the future and we’re Not endorsing Bitcoin we always endorse Study look into it yourself and that’s The beauty of YouTube we love you guys Is I can look at both sides because you Know guys like uh what’s his name Jim Rogers Jim Rogers he doesn’t like Bitcoin it’s Good point another point of view right He goes If the government wants to shut you down They’ll shut you down just like they Shut you down on covet they’ll lock you Up yeah he says never forget you never Fight the guys with the guns that’s his Point of view but I still buy Bitcoin Because I have my point of view that’s My ship to that thing from YouTube Whatever you know but we’re here to Educate not censor that’s the difference Yeah and I think the Bitcoin guys and The Gold Guys and Gals they’re on the Same team I don’t understand why they They get so you know this battle going Back and forth I just see golden Bitcoin As two completely separate things that Try to achieve different objectives gold Is just there to as an insurance policy To maintain your purchasing power and Bitcoin is something that’s a great Speculation and hopefully one at one
Point in time it’ll allow us to just Release ourselves from the shackles of These Central planners well let me tell You a funny story I’m talking to this Friend of ours you know and I said he’s He’s hoarding cash a Jewish guy I said You know Jesus saves Moses invests and Moses you’re Jesus you know I said I said buy some silver I said And he says how much I said 25 bucks you Can buy a silver eagle today you know he Says my wife won’t let me I said you Have serious problems you got bigger Problems 25 bucks you got some big problems right Right so we’re running out of time can We get to this here because I need That’s that you guys are here This comes from Mona this comes from our Book infinite returns which will be out Soon And this is the reason I wrote Rich Dad Poor Dad this is grunch up here uh Where’s grunch this is Grant here The grunch of giants this is Fuller’s Book came out in 83 and I started Looking at it so I don’t expect you guys To study it now but it says down here Gold server Bitcoin are not part of this System And so what you have here is you have Grunch you have the the government You have Banks you have Wall Street then You have education media military and
Big Pharma they control the economy big Corporations that’s what grunge said but Underneath this whole thing is a global Plumbing system right and so the reason I love your program Is you’re always in here You see this micro economics macro Economics and then I call Cosmic Economics you know what I mean but You’re always in here in the macro and Something when I was working on this Book here who’s told my pension which Came out in January 2020 I was watching something and suddenly The repo Market blew up And you were the only guys is explained Repo Market because that I would say Probably out of 100 people zero I’ve Heard of repo Market And zero on part of the Shadow banking System yeah that’s right and this is and This is what happens is once you go down That rabbit hole you don’t come back Yeah that’s right it’s so complex in Here so our new book coming out thanks To Mona over there it’s called the Infinite return You see the guys up here don’t work for Money you don’t need money When somebody says I don’t have money You’re a loser because the rich don’t Need money it’s infinite yeah and what You’re doing George and you do a lot of Is inside here this is what we’re
Explaining anything you want to say About repo Deutsche Bank and the Seattle Banking system Well I think there’s a lot yeah that’s a Just a brief one heck of a rabbit ten Words I I think 10 words It sucks yeah I think what most people Need to realize is there’s a dollar System that’s outside of the control or Purview of the Federal Reserve or the Central bank so as my good buddy Jeff Snyder always says the central banks Aren’t Central that’s right it’s it’s The plumbing that Robert was talking About that’s that’s what no my prince is Talking about this is this is actually What’s what’s Central so a lot of people Think that the in the GFC in 2000 what’s The GFC the the global financial crisis Oh sh the that was a result of mortgages But that was really just the tip of the Iceberg what actually happened is the Plumbing of the system broke that’s what Caused the GFC it wasn’t caused by Mortgages so they called the dollar Funding Market it’s it’s outside of the United States it’s called the euro Dollar system so in real simple terms There’s a way that you can create Dollars in the United States you know The FED can print money the government Can spend it if it can monetize it or The commercial Banks can create a new Loan which creates new dollars and
People think that it’s self-contained It’s not what people don’t realize is There’s dollar loans that are being Created outside of the United States by Other commercial Banks lending to each Other in foreign corporations and it’s Been happening since Bretton Woods Matt Add this to it because people don’t know This in 2008 Bernanke just started Printing and people didn’t know he was Bailing out the entire global system Yeah that’s what and he’s trying to bail That out he bailed this whole thing out Here and that’s why the crash got really Really bad And then September 17 2019 I’m Researching this book here and boom the Repo Market blows up so again you go Down the rabbit hole to go what the heck Is the repo market so I’m watching Rebel Capitalist and you’re explaining repo Market but then you go back to Deutsche Bank which is in serious trouble yeah so Best you can what is the repo bark and How is Deutsche Bank kind of the Linchpin right now so basically we have To go back to Lehman Brothers in 2008 And so which which I called in Prophecy Yeah so they went bust because they Couldn’t access the repo Market oh okay That that’s in in you know in in just Well it’s like they were short of cash Yeah they’re short liquidity they Couldn’t access the repo Market no one
Would lend to them so they just went Belly up so it happened potentially is The interest rate in the repo Market Spiked from about two percent up to 10 Which is absolutely unheard of meaning That there was no one in the repo Market That wanted to lend well why was that Maybe because Deutsche Bank or maybe Another one of these Banks HSBC was in Deep trouble therefore the interest rate Spikes the FED has to come and provide That liquidity that could have been a Lehman moment If the Fed would not have Stepped out it wasn’t just the FED it Was the fed and the treasury stepped in Well there I mean now they’re they’re Pretty much one in the same because the FED is just monitor when I say the FED Is monetizing that I mean that the the Government is spending the money they’re Issuing the bonds and then the FED Through this shell game with the primary Dealer Banks is just buying those bonds With newly created Bank Reserves and it Just goes back to your chart yeah Anthony you want to say about this Because this is what you this is where We operate from yeah Um I mean I think George summed it up the Best I think at the end of the day Really it just comes down to everything Being completely over leveraged right so When you look at the derivatives Market
Which is basically they’re betting right It’s a gambling Market is what it is It’s a bet on a bed and a bet and so When you go back to the mortgage crisis Really it became this you know Quadrillion dollar problem and they were Taking all they were creating Financial Assets they financialized the economy so They’re creating Financial assets out of Nothing and so well let’s grab a couple Of these mortgages and these mortgages And we’ll put it all together this Sausage if you will and then they’re Turning into these new Financial assets And then they were getting stacked and And so we have these bets on bets on Bets as the derivatives market and Nobody knows how big that is yeah They’re estimating it’s a quadrillion Dollars it’s the elephant standing on The peanut yeah I think and that’s why My friend here Edward cedell he’s the Biggest whistleblower against the crime I mean the pension system he says what Happens is they start manufacturing all These toxic assets and they sold into Pension plans all over the world yeah so Nothing has changed yeah but goes back To what you were saying because we had Sound money When people wouldn’t be forced into Gambling and speculating exactly right The Pension funds wouldn’t be forced to Go further out the risk they wouldn’t
Have all this financialization of the Economy and I know it sounds hype but Every pretty I believe pretty much every Problem that you can point in society Leads back to the money And that’s so anyway I want to thank you Guys uh these are the rebel capitalists We love you YouTube don’t don’t don’t We love you this is this is called free Market capitalism although a bunch of Rebels so I want to thank the company You know thank you guys I have to run For another call But anyway thank you very much thank you Thank you yeah thank you thanks and Thank you all for watching the Rich Dad Rich Dad radio program [Music] Foreign [Music] [Music] [Music] Foreign [Music] [Applause] [Music] [Music] Thank you [Music]
