Robert Kiyosaki, renowned author of the phenomenal personal finance book "Rich Dad, Poor Dad," shared a piece of his mind on how to decentralize from the fiat currency in these scary times of a broken banking system. According to him, the dollar has been losing its purchasing power and not long from now, it would just be worth less than "toilet paper."
During his appearance on the recent episode "Decentralize.TV" hosted by Mike Adams and Todd Pitner, Kiyosaki pointed out how the lack of financial education in the United States blinds the people and even President Joe Biden's administration in tackling the current economic downturn. "Just recently they raised the debt ceiling again… and because our schools have no financial education, no idea of credit rating, our debt increased by $1.8 trillion. The United States via Fitch Rating services downgraded the U.S. debt from AAA to AA-plus. We are on a collision course for disaster." (Related: America is on a collision course for a debt disaster, warns author Robert Kiyosaki.)
He further explained that every time the United States got into financial trouble, "we just print more money. "But there comes a time when you can't print any further. And we're, we're pretty near that point right now," he warned.
The entrepreneur/writer is a self-confessed ex-POTUS Donald Trump friend and supporter and admitted that both of them are capitalists. However, he said that President Joe Biden is a Marxist/communist and he emphasized how people should be observing more what the top officials do, rather than say. "So, the first thing that Joe Biden did was to cancel the Keystone XL Pipeline ... from Canada to the Gulf of Mexico," he said, adding that he owns real oil and sells it out of Texas, Louisiana and North Dakota. During Trump's time, he was selling oil for 30 bucks a barrel.
"The moment Biden cut that Keystone XL pipeline, that was in 2020 just before the riots and January 6, the price of oil went from $30 a barrel to $130 a barrel. And I immediately knew what Biden was doing. His plans are to crush the poor middle class, so that we're on the verge of revolution, " he said. "So it's not what he says, it is what he does."
Adams chimed in, agreeing that the middle class has been completely wiped out. Despite people earning assets, owning businesses or working 30 or 40 years to save some money, they are very concerned about the collapsing value of the dollar itself because its purchasing power is eroding much faster than the official government rates would admit, the Brighteon.TV founder said, citing the failure of the banking system. "[Secretary of the Treasury] Janet Yellen testified after the early failures this year, saying 'we'll selectively bail out certain banks beyond the 250K, but we're not going to tell you in advance which ones those are.' Now everybody feels like they're playing bank roulette with their deposits."
Kiyosaki: Marxists work for security, capitalists work for freedom
Elsewhere in the show, Adams requested the esteemed financial expert to explain the "cash flow" diagram projected on his background which is based on the principles that he teaches. The entrepreneur gamely agreed and said: "The reason I created the cashflow game is because as Maria Montessori said, 'what the hand does, the mind remembers.'"
He then continued, "When I was nine years old, my rich dad, who's my best friend's father, started teaching in Hawaii. I had to work for him for free, picking up rubbish or painting things and doing all this. He owned hotels and restaurants and he would teach me about investing, like playing Monopoly." And played as he did in real life later on. "And we all know the formula: using a 1031 tax-free exchange allows you to exchange four green houses for a red hotel." He also pointed to the middle of the board game/diagram and called it the rat race, which he said is where you go to school.
"So, you learn to just work hard, spin and save money to invest in the stock market. One may have a million dollars in assets and earn like 20,000 a year or something. But the average person goes to college and still can't get out of the rat race. So, they never make it to the 'fast track' where the real investments are and real deals are made," he highlighted, making an important point: "I don't buy shares of stock. I buy the gold mine. And that's what capitalists do. Marxists don't know how to do that and cited his college professors at the University of Texas, who all work for tenure. "Tenure means you can't get fired. So the difference is Marxists work for security but capitalists work for freedom," he stated.
He ended the interview by reminding the viewers that the space between the left ear to the right ear, is where the brain lies and that it is double-edged: "It is either your greatest asset or your greatest liability." "So if you're saving money and clinging to job security, you will put your money in the stock market. You know, the 60 percent, equities, 10 percent bonds. This will just be a liability to you," he said. But if people were more financially literate and used the "cash flow" game to transfer the money into an asset, they would become an entrepreneur, who could buy gold and silver and not paper.
Check out DollarDemise.com for more news about the "dying" status of the U.S. dollar.
Watch the full September 26 episode of "Decentralize.TV" with Mike Adams and Todd Pitner featuring Robert Kiyosaki below.
This video is from the Health Ranger Report channel on Brighteon.com.
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