#ShortSqueezeManiaSilvervsGameStop
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This is the Rich Dad radio show the good News and bad news about money here’s Robert Kiyosaki hello hello Robert Kiyosakovich radio show the good news And bad news today about silver I mean Unless you’ve been living under a rock Everybody’s heard about uh a little Stock called GameStop And then there’s Reddit and there’s Robin Hood and there’s his millions of Little investors kicking the hedge funds Asses this is a wonderful time Well we have something even more Important today something much more Valuable than game stock it’s something With real value it’s called Silver and So you can tell I just rush from the gym Because an opportunity interview my Friend Peter Schiff And he’s everywhere I see him everywhere Because he is the expert on gold and Silver in that whole industry And for full disclosure I am an investor With Peter Schiff so um take that with a For what it’s worth but anyway I’m very excited about talking to uh Peter because I’ve been in silver since 1964. First time I looked at a quarter and a Dime it had copper around it and I knew I was being screwed So ever since then I’ve been saving Gold Silver and all this stuff And I’m very happy what’s happening with
Silver today so with that you know Peter Peter Schiff is the expert on gold and Silver plus the mining shares and all This so Peter welcome to the program Well thanks for having me on and uh yeah This is really uh quite a day in the Metals Market uh quite a weekend really Uh with a lot of people buying physical Gold and silver I think shift gold we Probably had our busiest day in silver Ever So uh people who are buying are gonna Have to wait a little longer than normal To get delivery because of the backlog But the price gets locked in although The premiums are a little bit higher now Than they typically are thanks to the Elevated demand but you know there’s a Big difference between the little guys Who are buying silver And the little guys who are still buying GameStop or who still own GameStop GameStop is gonna crash it’s only a Question of when I mean GameStop was Overvalued you know when it was 10 20 a Share and the shorts were jumping all Over it so now when you’re talking about Hundreds of dollars a share it got as High as over 500 a share this is not Just the shorts covering there are a lot Of little investors who paid three four Hundred dollars a share for GameStop That stock could go to zero I mean or Close to it so a lot of people are gonna
Get hurt yeah Peter can you explain for Those who do not know What does buying what what about Shorting game stock can you explain the Mechanisms in there well sure you know Most people look at stocks and they Think a stock is a good deal and so they Want to buy it right you think it’s Undervalued you think the price is going To go up well if you think a stock is Expensive if you think it’s overvalued Well obviously you don’t want to buy it But if you short it meaning you sell it You can profit from the Stock’s decline Now the way you do that hang on this is The part that drives people nuts about Shorting you sell a shop a stock You Don’t Own Right but in order to do it you borrow The shares from somebody who does own it Right so I go and I borrow somebody’s Stock and then I take that stock and I Sell it to somebody else who wants to Buy it now when the price drops I can go Into the market buy it at that lower Price and then take the shares I Borrowed and repay them and the owner You know is no worse for where he gets His stock back of course the stock has Gone down so he’s losing but he has the Same shares and and so you know the only Thing the borrower really has to do is Pay the dividend but if you’re short of Stock that’s not paying a dividend well
Then you don’t have to pay that and and So you could profit but the risk is That if the stock price starts to go up Your broker is going to Mark you to the Market meaning that as the price of the Stock’s going up on paper you’re losing Money and if the losses get to be high Enough the broker gives you a margin Call and hey you got to deposit more Money well what if you don’t want to Deposit more money well people got to Buy the stock Peter I gotta get the math Simple for me so I go into some broker I Borrow let’s say GameStop at 10 bucks I borrow it so that Means I have to pay it back at ten Dollars and I’m counting on the stock to Go GameStop to go to five dollars But if the stock game stock stop goes up Let’s say from 10 to a hundred dollars That means I have to find by GameStop At a hundred dollars a share and I just Got wiped out is that correct yeah You’ve got to go into the market and pay A hundred for something that you sold For ten so you’re losing 10 times what You got but the problem is if you don’t Have a lot and you know a big enough Bankroll depending on how heavily you Shorted it You may not have enough money because as The stock is going up you’re having to Market to the market and now your losses Right just like when you buy a stock and
It’s going up those are your gains on Your when you’re short that’s a loss You’re seeing that loss in your account And at some point the losses can’t that The the shorts can’t take it anymore and They’re forced to buy the stock just to Get rid of the losses even though they Know it’s overpriced and they’re they’re Confident that it’s going to crash they Just can’t take it anymore and that’s Why it’s a squeeze right you’re Squeezing these guys out of their shorts And you’re forcing them to buy the stock At a much higher price than what they Sold it for and so that so the some of The Darth Vaders or the dark side of the Hedge funds who are short they’ve always Just shorted stocks they’ve made Fortunes because nobody challenged them And Dunn comes along Reddit and Robin Hood But that’s not true because short Squeezes have been going on you know Since the beginning Peter I understand Yeah never has such a mass come at him Yeah this well you know you know you Know around 1400 with Napoleon so yeah For a while but the thing is this I just Want people to understand what we’re Talking about here So the thing about buying uh let’s say a GameStop at ten dollars The possibility is it could go up Forever it technically that’s not
Possibly but you know that’s what They’re afraid of and it keeps going up And these Reddit and Robin Hood and all These retail Traders keep pounding on Them Their losses are approaching infinite They have to pay money Well in theory you could say it can go Up forever if nobody sells but Eventually GameStop is going to sell Right the company is going to create new Shares and sell them into the market and Take the cash so there is going to be a Seller even if all the Reddit raters Hold tight and they say we’re never Gonna sell GameStop is going to sell and there has To be a buyer or the price is going to Crash my point is we’ve been having Short squeezes as long as we’ve had Shorts but yes this is a very unique Type of short squeeze nobody thought This was going to happen you know like Custer you know didn’t expect all those Indians that Little Bighorn but you know What it’s a risk these are big boys they Have a lot of money Murphy has a law Right anything that can go wrong will go Wrong although so yeah you know so did Somebody step in to protect the hedge Funds is that what happened well maybe We don’t know right but what happened Was Robin Hood which is where a lot of These buys were being executed right A
Lot of these small investors on Reddit Had these Robin Hood accounts because They have no minimums you can buy a Fraction of a share and it’s zero Commission you’re trading for free so They have this big platform form of Do-it-yourselfers who got in on it Now what people don’t realize is there’s No free lunch right so you open up this Robin Hood account and they’re not Charging you anything to trade So then you have to ask yourself okay These guys are not just you know Charitable organization How do they make their money right who’s Paying the bills so that I can trade for Free well the people who are paying the Bills are some of these hedge funds that Were short these stocks So you got to think all right maybe the Hedge funds were like Hey we’re your Actual customers here you’re screwing us Over you better stop this buying or Maybe they just told they told Um Um Robin Hood we don’t want to buy those Orders anymore if you keep giving us Orders to buy these stocks we don’t want Them and now in order for Robin Hood to Execute them they had to pay somebody to Execute the trades but they’re not Charging the customers anything so They’re losing money every time they Trade so I you know they probably had a
Halt the trading to stop the bleeding Because they would have run out of money Right right right so I mean I was Laughing my butt off because GameStop in My opinion is worthless it’s it’s a Retailer that’s out of business his Business model is finished GameStop as a Brand is probably valuable but not as The existing business yeah I mean they Have to turn it over to it has to go From a brick and mortar you know store In a mall you know to something online You know although how do you compete With Amazon how do you compete with you Know these big behemoths but yeah I mean There’s probably some way to restructure It in a much smaller way but I’m sure All the equity holders would get wiped Out and not restructuring you know the Bondholders will end up owning the Company I don’t really know how much Debt uh the company has Um because I had no position in GameStop But to me it’s just it’s just a future Blockbuster right I mean you know the Video stores that we grew up with or we Didn’t even grow up with them they Started in the 80s but you went and Rented a video but obviously they got Put out of business and people are not Going to the mall and buying a physical Game they’re just downloading stuff Online or they’re signing up for these Services where you have unlimited gaming
Like a Netflix of of of of games and These are dinosaurs you know they’re and The shorts new it that’s why there’s so Many shorts in these stocks because they Can see that the companies are in Trouble yeah so to me I was laughing my Butt off because GameStop sold these games to these kids Who understand games better than you and I ever will And then they turned against GameStop or They turned against Wall Street and it’s A classic case of David kicking Goliath’s butt so the hedge funds who Have billions and the worst thing about It is this the hedge funds are in Pension funds and I think this is going To be a rep the ripple effect from this Is going to be massive but let’s get to Let’s get to a subject you and I are Near and deer up and let me let me say Again I do invest with Peter Schiff What is happening with silver what what Are what other what is Reddit and Robin Hood going after silver four well here’s The thing The one thing that silver has in common With GameStop Is a short interest There are big Banks like J.P Morgan Right there the boogeyman I mean you Know shorting silver right they have Short positions well one second but and They screw guys like you and me because
We’re accounting for the price to go up And they’re keeping the price down with A little basket well but as far as I’m Concerned since I want to get more People to buy silver they’re doing us All a favor they’re letting us buy more Silver cheap by by selling it but here’s The thing that they focused on and in Fact As soon as this GameStop thing exploded On Wednesday last week the title of my Podcast on you know the Peter Schiff Show was the mother of all short Squeezes Is Yet To Come and what I was Referring to was the short squeeze in Silver and in gold and then you know the Next day that’s what they’re doing you Know now you know I don’t know that they Got it from me maybe they just saw the Similarities on their own or somebody Did but here’s the big thing most of the Silver that’s traded Is traded on Futures exchanges not People aren’t calling up shift gold and Buying their silver and we’re mailing it Out to them they’re just buying a Contract on the comex and a silver Contract is 5 000 ounces of silver That’s a lot of silver but you don’t Have to pay for all of it the margin Requirement maybe you just put down Three percent or five percent whatever It is and now you have a contract that Entitles you to 5 000 ounces of silver
Now somebody else sells that contract to You so you have the right to buy 5 000 Ounces of silver somebody else has the Obligation to deliver you 5 000 ounces Of silver except the person who is Entering that short and has the Obligation to deliver they don’t have The silver they don’t own any silver and They’re confident that they’re never Going to actually have to deliver it Because the person who bought it doesn’t Want the silver either he’s just betting That the price goes up so this is the Key what happens if all these people who Are buying silver or Futures contracts This side or a big number of them decide I actually want my silver And they pay their full amount right They don’t just pay the margin they pay The balance that they owe and now the Guy that’s short gets sent the letter From the Comax you owe us 5 000 ounces Of silver or maybe 50 000 ounces or 500 000 depending on how many contracts are Short and then the guy’s like well I Don’t have any silver okay well go buy Some now you have to go into the actual Market you got to call up shift go hey You guys got any silver uh sorry we’re Out of silver that’s like well now you Go well we’ll pay any price now we have To start calling our clients you know You never remember that silver we sold You sold you at thirty dollars I got a
Guy willing to pay 200 will you sell Them some because they have to find it They have to deliver on the contract so That ultimately that’s what could happen Uh to Silver and it will happen to so It’s it’s inevitable right just Murphy’s Law it’s gonna happen it’s happening and FYI is I also do speak for Lair capital And there uh Peter’s competitor editor And I buy silver and gold from leer and I buy silver and gold from anybody I can Get a bargain in Because I’ve been doing this since 1960 Since I was a kid I love it yeah you Just got to make sure when people are Buying silver now don’t buy any Rare Coins collectible coins you don’t want To be a coin collector you want to be a Bullion investor I never have I like Buying money you know like a Scrooge McDuck he was set on a pile of gold and Silver yeah cartoon hero you know some Guys watch Elmer Fudd I watch Scrooge McDuck so you and I yeah he was he was The smartest one on the bunch yeah but You know I had some good lessons His little nephews Saying I love silver and all my friends Going you’re an idiot I said I love Silver why don’t you buy Amazon so no I’d rather have a silver And uh so this morning a couple of those Doubters called me this morning and says You’re all right you’re all right I said
It’s nice you’re right but anyway we’re Gonna get into next week come back is There’s a difference between GameStop And silver there really is a global Shortage of silver but not only that is The value the intrinsic value the real Value of silver is about to go up with The green you deal with electric cars With medicines and all this and there is This major silver short and the people That ultimately want the silver never Disclosed that they wanted So we still don’t know who’s squirming Out there because there’s companies like Toshiba Sony apple and all and Tesla They all need silver but nobody’s saying How much they need so we don’t know how Bad the shortage is when we come back We’re born with Peter Schiff and we’re Going why this is the most exciting time For Peter and I Welcome back Robert Kiyosaki Richard Radio show good news and bad news about Money and today we’re talking about Reddit Robin Hood and silver versus GameStop and I have a long time friend Of mine Peter Schiff I’ve been to his House in Puerto Rico where he is now and Peter is one of the smartest guys I know When it comes to Gold and Silver and for Full disclosure I buy from him I buy From Lair capital and buy I buy from my Friend Dana Samuels in Austin Texas and Uh
Um I have a Biden moment but my friend Terry Williams here in Phoenix I buy as Much as I can get my hands on when People say what’s the price I said I Don’t care about the price I said how Many ounces do you have and I do not buy Collectibles on numismatic so with that Peter let’s what is the real value of Silver in industry Well I mean silver has tremendous value In Industry that’s why it’s money you Know people forget with all the hysteria About Bitcoin that money has to have Intrinsic value money has to be a Commodity that’s what money is it’s the Most marketable most liquid commodity That’s why it’s a store of value the Reason that silver is a store of value Is because you’re storing all of the Things that you can do with the silver After you melt it down right that’s what You’re storing and so silver is very Valuable metal I mean at one point yeah They used a lot of it in photography and People were saying oh you know well now There’s no more film so who’s going to Need silver but meanwhile there’s plenty Of other uses for silver out there as a Conductor of electricity you know you Know it’s used in uh the automobile Automotive industry along with a lot of You know copper and nickel are also in Demand for electric uh vehicles for the Batteries that operate them but there
Are all sorts of applique stations for Silver there’s even more for gold the Problem is gold is so expensive that in Many cases they substitute silver for Gold or copper for gold because they Can’t afford the gold I mean if they Could they would use gold but it’s too Expensive but in in certain areas where You absolutely need the best they buy Gold I mean gold is used in you know in In chips and and all sorts of things Because one more thing is gold does not Disappear silver is used up There’s a certain percentage that goes Short every year and I I’m not sure on The numbers but I was uh listen I think Keith newmeyer of first Majestic he was Saying that Uh There’s only 80 percent of the silver Required That’s available there what the 20 short Every year now because yeah tougher and Tougher and tougher electronic Vehicles Solar panels medicine you know it just Keeps increasing in value because it’s An industrial metal as well as a Precious metal as well as a commodity Yeah and that’s why it doesn’t make Sense that it really is so cheap in Relation to Gold because you know you Can buy a lot of silver for an ounce of Gold which is why we’ve been encouraging People even at shift gold to use some of
Their gold to buy silver like hey you Don’t have any silver take some of your Gold and buy some silver with it right Because you’re going to end up with a Lot of extra ounces uh and eventually You might be able to sell the silver and Buy your gold back and get a lot more Gold than you started with uh because The you know the price of silver has has Gone gone way up but you know you know While I’m mentioning you know a thing Like Bitcoin I mean Bitcoin has a lot More in common with GameStop than it Does with gold or silver right because It’s the same concept pump and dump Greater fool Theory you’re buying Something that has no value but just Because it’s gone up everybody thinks That they’ve you know rediscovered you Know the wheel or something like oh my God you see it works because the price Went up look because the price of GameStop went from ten dollars to 500 That doesn’t change the nature of that Business they’re not making any more Money in their malls than they were Before it’s the same failed business and Bitcoin at thirty thousand is the same Bitcoin at three dollars there’s no Fundamental difference other than the Fact that more people own it and they’ve Been willing to buy it but why are People buying GameStop because they Think somebody else will pay them more
Right why are people buying Bitcoin Because they think somebody else will Pay them more why am I buying silver Because I know somebody’s gonna need it Right because it’s used in industry Right and I’m gonna store the silver Because the people who need the silver Are going to pay a lot of money to get Mine right but nobody needs Bitcoin it’s Only only it’s only because you want to Speculate it for full disclosure I own a Lot of Bitcoin too I’m not yeah well you Know nobody’s perfect but you know what If you sell them now you could laugh all The way to the bank right because Anybody anybody who bought Bitcoin who Sells their Bitcoin can make fun of me For not buying it but if you bought your Bitcoin and you don’t sell I’m gonna be The one making fun of you for not Selling because then you’re going to end Up as a bag holder well well Peter you Know what’s the most entertaining about You is when you get into these arguments With guys like Max Kaiser and all this Stuff it to me it’s just entertainment You know I don’t even argue with Max Anymore he just calls me names all the Time he’s just really gotten taken the Low road so I I just avoid him that’s What’s funny to me you know I don’t Really get into the uh food fight yeah It’s not but it’s it’s good Entertainment Peter you’re very
Entertained So but I do buy it and uh you know as Yogi Berra once said when you come to a Fork on the road take it take it you Know so I have Galls over and Bitcoin And do I know anything no but that’s why I buy from you and that’s why I buy Bitcoin I’m really kind of a dummy but I Do know that the dollar yeah I I here’s An argument for that I just think I’m Smart enough not to buy it but you know You are very I outsmarted myself out of A lot of paper profits there’s no doubt But you know what my silver stocks are Doing a lot better than Bitcoin today Okay good good I own silver stock too I Don’t know what I’m getting at here but Anyway I I just think it’s entertaining you Know because It doesn’t make any difference right now Because the real problem is the dollar I agree a problem but you know the Dollar is a problem because it has no Fundamental value right it’s it’s not It’s it’s only backed by faith right and That’s the same thing that’s the same Problem Bitcoin has right that’s why I Want something real I want real money Right you call it God’s money but that’s What I want I want the real deal I don’t Want some new iteration of fool’s gold Right and then also you know Peter I’ve I’ve built a gold mine in China which
I’ll never do again because they took it And they took it because it was valuable Yeah well and then I also built a silver Mine in Argentina and unfortunately my Stock broker said to sell it so I sold It and I’ll never listen to those guys Again you know what I mean I know what I Love gold and silver are God’s money and I called Bitcoin people’s money is Def You know decentralized Finance other Than that that’s all I know so I turn to Guys like you and records and all those Guys I listen to them I listen to Max Kaiser he’s entertaining too but in time Listen to him for entertainment don’t Take any investment advice from He was a stand-up comedian I think at One time so so are you Peter well I was An amateur I think he was a pro All right so uh can we talk about how Game stock is going to affect pensions Because this is a book I wrote with a my Friend Ted sedales who’s told by pension Yeah and this came out in uh January of 2020 so a year now and my concern is They’re going to have to print more fake Dollars Simply because the pensions are bust and Their pensions are stuffed with stuff Like uh GameStop well to the extent that Any pensions own GameStop they just got Lucky they won the lottery because I’m Sure if you’re a pension manager and you Made the mistake of buying GameStop and
Now you get to get out of jail free card It’s like you won the so they’re they’re Selling so there’s probably more Pensions that are going to benefit from Gamestop because now they’re gonna get Out you know it’s these little investors Not the pensions that are buying the Pensions are run by more sophisticated Guys who have fiduciaries they’re not Buying they’re selling Um but the pensions in general are Woefully underfunded they’re investing In the equivalent of of GameStop just You know GameStop is like you know the Extreme example but the whole Market is Overpriced you have all sorts of Companies that have crazy Pie in the Sky Multiples that have no earnings that are Overvalued just like GameStop And people are paying ridiculous prices For them like everybody talks about Tesla I mean Tesla yeah I mean you know They make some nice cars uh but I mean The the stock price it has no bearing on Any potential value of that business Right but nobody cares because people Keep buying a stock and there’s there’s All sorts of Teslas out there they’re Not as big and extreme and they’re not As an extreme as Gamestop but all the Pensions are loaded up with overpriced Stocks the reason was because the FED Forced interest rates down so low right That the Pension funds could not get a
Return on bond portfolios right which is What they should have so they had to go Really out on the risk curve they had to Basically take it all through the casino And roll the dice right and hope for the Best because there was no way to deliver The returns that they were promising With zero percent interest rates so now They’re all in overpriced stocks they’re Going to crash the pensions are broke And you know what the government’s Supposedly guarantees all his pensions Well the government is broke too so all The money is going to be printed which Means none of it is going to have any Value which is what’s up by gold and Silver now one of the you know uh Peter And I hang out on the real estate guys Crews when they had a cruise before Covet and Peter is the most I mean You’re one of the smartest guys I know Peter when it comes to this world here Thank you but you know you’re not you’re Not exactly a dummy either you know I Hang out with smart guys I just listen But this is my question you know guys Like Harry Dent are saying a stock and Equity my stock market crash is coming So would you explain to everybody what You see not only in stocks you know the Basic stock market that pensions are in 401ks but also Bond markets I’ve never Understood bonds what’s going on with Because there’s no yield
What’s well yeah now well you know Harry And I and Harry By the way lives in uh In Puerto Rico and our wives have Actually become pretty good friends in Fact they just went out to lunch the Other day at San Juan so uh but you know Harry and I you know we agree on a lot Of things including that the stock Market is overvalued it’s just that he Expects the stock market to crash in Dollar terms and I only expect it to Crash in Gold terms I think they’ll Print enough money so that the dollar Crashes more than stocks so you gotta Own real money that’s why but you know The bond market is so corrupted by Government all a bond is is a formal Promissory note it’s like I you know I Go Robert you know can you loan me a Thousand dollars I’ll pay you back in a Year and then okay and you write up an IOU I owe Robert a thousand dollars That’s a bond right that’s really what It is that’s a formal IOU but who’s dumb Enough to loan somebody money and not Get interest because what if I don’t get Paid back what if there’s inflation but What I’m saying Peter is you’re gonna Loan the money they’re not gonna they’re Not paying any interest on it and They’re printing more money yes my whole Case because like I said I never Understood bonds because I never had any Money to put in a bond in the first
Place And the thing I I never said is that’s Who I’m betting against I’m buying gold silver and Bitcoin Because I don’t trust that other Market That’s pure well the big buyer of bonds Now are the central banks right they’re Because they can just print money to buy It because nobody who’s actually Thinking is going to loan the US Government money For 10 years or 30 years for one percent Interest two percent interest I mean Obviously the rate of inflation is Higher than that and you’re you know You’re paying taxes on the the the Interest which doesn’t even cover the Inflation rate so but let me ask you This question how much money are they Going to print in 2021 Well look they’re printing more money Than they’re collecting in taxes I mean They’re printing trillions I don’t know Four trillion dollars a year they’re Gonna have five trillion 6 trillion I Mean I was looking at these charts the Other day something like 40 of all the Dollars that exist in circulation were Created since covid I mean I mean going Back from the beginning and and the Problem is it’s going to get worse Because fewer and fewer people are Working and paying taxes and more and More people are just expecting a
Government check right and where’s the Government getting the money if it’s not Getting it from the taxpayer so and it’s Not borrowing it because nobody is dumb Enough to lend so it’s all from the FED They’re just printing the money no if if Reddit and Robin had all these retail Buyers you know blow the um Guys like JP Morgan all the water and The useful value of silver actually Comes to light Everybody should own gold and silver Anyway regardless of what positions yes I don’t think the Reddit guys have the Firepower to do this on their own but What might happen is some of the bigger Players around the world may wake up and See this as a catalyst to move into Silver uh and that could do it but it Was going to happen inevitably yes Whether the Reddit guys accelerated the Process or not we don’t know yes that’s Why but you and I have been kind of the Lone Ranger all these years talking About gold and silver and all this and My friends and then come on Lair capital And fox playing by silver and going what Are you talking about because they’re All in Amazon or app yeah but the good The good thing is if this press if What’s happening on Reddit causes some Little people some average Americans who Didn’t own any silver to now buy some Yes as long as they don’t sell it you
Know if it drops a little bit because Obviously when everybody rushes in the Price could push up we might have a Pullback as long as they don’t get Discouraged and sell for a loss oh this Is going to be very important because People are going to need that silver When you start to see runaway inflation Or hyperinflation you know having that Real money having silver could be the Difference between poverty and and and And and being okay you know let me ask This question How is silver going up going to affect The price of gold Well you know you the metals are going To generally be positively correlated so If Silver’s going up I mean Gold’s going To go up too they they generally move in The same direction but what I think is Happening right now is there are people That are spreading Metals where let’s Say they’re short silver and they’re Long gold and now there’s a big move up In silver so in the short run you might Have some people Um that have to close those trades in Which case they have to sell their gold And buy silver and so that could be Keeping a little bit of a lid on gold But once those trades are Unwound that Would take the selling pressure off of Gold and I think gold can move so right Now I mean people really they’re all
Looking at Silver but we could get a Nice pop and goal and then solvers about 30 bucks an ounce right now and I don’t Know if you do this but do you ever your Buddy Max Kaiser he says Bitcoin is Going to 220 000 in 2021 you have any Forecasts for gold and silver per ounce Well you know unlike Um you know Bitcoin right there are real You there are real There’s real demand For gold and silver right the only Demand for Bitcoin comes from Speculators so everybody like Max Kaiser Who owns it they have to constantly pump The hell out of it with pie in the sky Forecasts to try to con people into Buying it so what do you expect him to Say right the the crypto guys they’re Like the the the financial Hare Krishners you know they’re constantly Trying to convert other people into Their cult right so I I know that There’s real demand for gold and silver Gold and silver is real money Eventually the price is going to go Ballistic because it’s not really how High the price of gold and silver go but How low the value of the dollar goes yes Because it’s all a measure of how many Dollars you’re going to need to buy gold And silver and since there’s no Floor to the dollar there’s no ceiling To the price of gold okay so I think It’s going a lot higher how high I don’t
Know in this year but I know that if you Don’t buy it you’ll regret it one day Right I mean I would I I love you know Silver to me is high at 30 dollars I I’m Still a buyer you know yeah well Ultimately look it’s got a nice double Top around 50 because it got to 50 when The Hunt Brothers tried to corner of the Market in 1980 and then it got to 50 Again in 2011. I think once we get Through 50 50 is going to be the new Floor and we’re headed a lot higher I Agree but there’s resistance at about The 30 level where we are now there’s Been some resistance here so it could Pull back guys like JP Morgan I want to Keep the price low and the end user like Sony and Toshiba and all those guys and Tesla they want to keep the price of Silver low that’s why nobody knows yeah How big is the demand for silver that’s The wild card anyway Peter before we end Can you give us a a complete plug now How people can do business with Peter Schiff I’m happy I’m happy to give the Complete Peter Schiff plug so first of All for physical gold and silver shift Gold I mean we’ve got great prices shop Around uh but we have uh personalized Service you know it’s not online and so We’ll make sure you get the right the Right metal at the right price and and Make sure not to push you into Rare Coins Collectibles numismatics something
Like that right but if you have a larger Amount of money and you want to build a Diversified portfolio that is not in the US dollar if you want to avoid the Inflation tax which is what inflation is As I said it’s a tax you want to avoid That tax you have to get out of what’s Being taxed which is the US dollar and We’re building portfolios of foreign Stocks good dividend paying stocks All Around the World in countries that are Actually going to benefit from the Dollar’s demise where the people are Going to see their standard of living Increase rather than you know go down The drain so there’s a lot of ways to Profit from this real realignment of the The global pecking order as the dollar Loses its Reserve currency status so you Can call up my broker dealer your Pacific Capital europeac.com or your Pacificfunds.com epacfunds.com to learn About our strategies I have five mutual Funds which you can buy anywhere any of The big Discounters they don’t have Mutual funds on Robinhood but at Schwab E-Trade Fidelity all these you get my Gold fund my emerging market fund my Value Fund dividend payers fund foreign Bond fund just get out of the dollar and Do all that and and then just to follow Me just to you know get my take on What’s happening in the news the Financial markets and politics you know
And the economy shift radio is my Podcast for the Peter Schiff Show is the Podcast you can listen on Chef radio.com You can go to my YouTube channel getting More and more subscribers every day you Know I’m neck and neck with you Robert I Just noticed this week you know I think I I just moved above you by one notch in The rating for the podcast I got up to Number nine I think you were number ten For the investment podcast you’re Normally ahead of me but I think this This all this uh silver stuff and uh Wall Street stuff I kind of uh straight Away that’s why I say you’ve been busy It’s a good thing you don’t have some Good friends and there’s mutual respect But anyway Peter you know thank you very Much because you I mean I’m not kidding And hanging out with Peter on the real Estate guys Crews is a sheer pleasure I Wish we had one yeah well pleasure is Mutual you’re you’re one of the Highlights of that cruise if they ever Get them started again yeah but uh but Anyway Peter you know thank you very Much and thank you for your your uh Wealth of knowledge and your Contribution of your experience to this World of insane money thank you Peter Okay my pleasure Take Care thank you and We’ll come back we’ll go the final word For Rich Dad Radio thank you Peter Welcome back Robert Kiyosaki Adventure
That radio show the good news and bad News about money and let’s thank my good Friend Peter Schiff for The Comedy Hour No Comedy half hour and uh he is he is Entertaining and Max Kaiser is Entertaining him it’s really interesting But I learned the most because I listen To both sides and that’s intelligence Can you see both sides of the coin you Can listen to the Rich Dad radio program Anytime anywhere on I on iTunes Android And YouTube and if you listen to this Program again just go to Richdadradio.com listen to it again You’ll learn twice as much but more Importantly if you have friends family Members or business associates who want To know what’s going on in the silver Gold Bitcoin and the uh GameStop and Robin Hood and Reddit Market this is a great great fundamental Program to listen to you because Understand the real problem is the US Dollar is in trouble that’s the real Problem so I don’t get into this food Fight or a cat fight about gold silver Or Bitcoin I like them all But I think the thing that’s interesting Is what Peter said about him kicking our Bus on YouTube so I want to ask Sarah Who is our producer here what fake news Fake news fake news no Um I was just trying to check podcast You know rankings before we pulled you
Know before we started and I can’t get To it fast enough but I just want to Clarify he called us this morning to get On our show so so what does that tell You He wants to be on our show because we Have a bigger audience but the thing I Love about Sarah you’re now inspired Aren’t you oh I mean I love competition And that’s I think I think the attitude that people need to Have we have too much this victim Mentality oh you hurt my feelings you Said something you know you did this you Know you hurt Michael fans I’m going oh Give me a break no and we love you know We love all of these guys Peter Schiff You know George George gaming I was at a Party with him the other night that was I was mad I wasn’t invited Um Teasing it sounds like it was a great Party um but anyway you know so Competition it’s all in fun yeah you Know who we’re on his show he’s on our Show so it doesn’t really matter but it Just uh drives me to to push this out Faster yeah and I want to I want to plug I do buy from Peter Schiff because I Like I like his Intel I mean his Knowledge his wisdom is he follows his Father’s Footsteps but I’ll I also Invest with Lair capital and uh Dana Samuelson out of Austin and American
Precious Metals with Jerry Williams Because I go to those guys Jerry Williams and Dana Samuelson and Lair Capital because they’re Pros they Are in the business every single day Yeah I don’t listen to somebody who’s Speculating on Reddit you know I want to Know what’s really going on in the Market so I’ll just end by saying this I Think you know what first of all what Are your final words you know two things That one With this GameStop issue to me I mean it Was all a game right Reddit was really Just trying to stick it to these Wall Street guys Um but I want to caution our listeners Or you know anybody else who’s thinking About suddenly jumping in the market Right you’ve got to learn the Fundamentals because if they would have Done done it the way maybe Andy Tanner Teaches they would have never bought GameStop because the the fundamentals Aren’t there the cash flow isn’t there The you know what I mean there’s no Business there right so it’s a defunct Business model like it’s like what’s That Netflix right right that’s what’s Happening right so I so I know there’s a Lot of hype and people are you know oh Let’s you know do this quick yeah Because all these apps make it free to
Trade and easy to trade but that’s You’re not learning anything by doing That um and you’ll probably lose a lot Of money doing that so I so I just want To caution our listeners that’s how People learn you know I mean you jump in And get a hammered You learn not to do it ever again Um the second thing is we talked a Little bit about pensions and I think so I want to quickly cover Um so the reason why the hedge fund Managers are were pissed at the Reddit Guys is because those hedge funds are And they’re in they’re what stuffed Pensions are stuffed with right but the Profits they hedge funds lost come out Of Pensions too correct so so even Though people might think oh it’s hedge Funds versus redditors no you’re talking About millions of people that hold Pensions you know so I just that’s Another thing you know thing to research And look up too because it’s not just These one versus the other it’s Affecting a lot of people oh God this is Huge this game so anyway I think this Time is a huge learning opportunity for So many people for so many things so I Just think it’s a cool time to Yeah and if I I like like what you said I would take a course from Andy Tanner So you understand the stock market And if you want to understand real
Estate that’s Ken McElroy you know Because it’s stuck the real estate Market is really about debt and Tech I Don’t pay taxes I always give Peter Grief because the only reason he pays Taxes the reason it’s in Puerto Rico is He’s in paper assets or you know gold Where real estate guys don’t pay taxes Anyway that’s why Trump doesn’t pay Taxes but those that’s education you Know you don’t get so oh I hate Trump You know he makes a lot of money and Pays no taxes That’s stupid I want to find out how Would they do it yeah and you know you Have Max Kaiser attacks uh gold and Silver I want to find out why it’s Attacking and then Peter attacks back of Max Kaiser I find it entertaining Education yeah Yeah that’s the most important thing Right yeah it makes it when you get that Banter you’re wondering why does he Think this way yeah why is he why is Peter so against Bitcoin and I can see His argument I do and I can you know I Can see the argument about against Silver so but I think that just inspires People to learn and I hope that that’s What we’re doing on this show yeah and I And I do love silver like I said I Started buying silver in 1964 about my First goal coin in 1972 when it was Illegal for Americans to own gold and
Now I got lots of it and I finally Shifted over to bitcoin and ethereum and All that stuff you know why is because I Got you know gold and silver you can’t Run with it but you can run with Bitcoin Right and that’s a big advantage to the Whole thing so everybody out there as Yogi Berra said when you come through The fork on the road take it buy gold Silver Bitcoin thank you for listening To the rich guy radio show Foreign [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] Foreign [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] All right [Music]
