Gold, Silver, and Bitcoin: What Happens When There's Nothing Left to Buy

Summary

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Podcast Summary: Rich Dad Radio Show

Episode: Gold, Silver, and Bitcoin: What Happens When There's Nothing Left to Buy

Date: December 24, 2025
Host: Robert Kiyosaki
Guests: Jim Clark (Republic Monetary Exchange), Damon Jones

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Episode Overview

This episode explores the ongoing debate between traditional assets like gold and silver versus emerging digital assets like Bitcoin and Ethereum. Robert Kiyosaki, joined by precious metals experts Jim Clark and Damon Jones, dives deep into how these instruments function as stores of value, hedges against monetary manipulation, and tools for financial sovereignty in an environment of unprecedented money printing, inflation, and technological change. The show challenges conventional wisdom from academia and traditional finance, with a practical, real-world lens honed by decades of experience.

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Key Discussion Points & Insights

1. Backgrounds of the Guests and the Precious Metals Market

• Damon Jones: Began as a foreign currency (FX) trader, then spent 14 years as a stockbroker always recommending precious metals as "wealth insurance." Currently at Republic Monetary Exchange.
  • Quote: "I still recommended precious metals. I felt they were an important part of the wealth insurance part of your portfolio." (04:00)
• Jim Clark: Over 52 years in precious metals, involved in key historical events (notably the Hunt Brothers silver saga), and runs Republic Monetary Exchange in Phoenix.
  • Quote: “I've seen the gold and silver markets all over the map. ... I was involved with selling [the Hunt brothers] about a quarter of a billion dollars of the silver that they purchased back in 1979.” (04:35)

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2. The Hunt Brothers and Silver Market Manipulation

• History: Hunt brothers tried to corner the silver market in the late ‘70s, driving prices from $5 to $50 per ounce before regulatory action led to a collapse back to $10.
  • Jim Clark: “They exercised Rule 7, which allowed them to restrict the Hunt brothers from buying any more silver they could only sell. ... The trade houses, the hedge funds, the various institutions that trade precious metals, they were bailed out of their short positions… and the Hunt brothers lost one to $2 billion.” (06:49, 08:34)
• Modern Parallels: JP Morgan fined $900 million for 'spoofing' silver markets, continuing issues with paper silver (SLV) as a "fake" instrument.
  • Robert Kiyosaki: “J.P. Morgan was manipulating the price of silver. And ... they're the same guys still selling the SLV, which is fake silver, paper silver.” (11:39)

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3. Industrial and Strategic Value of Silver

• Silver is increasingly essential for technology (solar, batteries, iPhones, medical devices), not just a store of value.
• China imposing an export ban on silver from Jan 1st, 2026, to secure industrial supply, especially for high-tech batteries (BYD introducing silver solid-state batteries).
  • Damon Jones: “Physical silver is just going up higher and higher for industrial purposes. ... They need to tie up that silver for their critical components. ... Literally thousands of companies that need silver.” (21:07, 22:37)
  • Robert Kiyosaki: “Silver is such an essential metal for industry versus gold... the more as we go to AI, artificial intelligence, silver goes up in value, yet the price is suppressed.” (11:33)

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4. Inflation, Money Printing, and the Case Against Fiat Currency

• US dollar termed “fake money,” losing value due to continuous money printing ($38T in debt and counting).
  • Robert Kiyosaki: “Savers were losers. ... You're not saving money today, you're saving fake money, the US dollar.” (13:47)
  • Jim Clark: “If the government weren't printing up so many Federal Reserve notes ... we wouldn't have the situation that we're in today.” (12:19)
• Historical context: Gresham's Law—bad money drives out good. Shift from silver to copper in coinage post-1964 cited as the start of monetary debasement.

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5. Gold, Silver, Bitcoin, and Crypto: Comparative Strengths and Weaknesses

• Physical Assets (Gold/Silver):
  • Tangible, intrinsic value, no counterparty risk, cannot be printed.
  • Downsides: Storage and security limitations (vaults, insurance).
  • Jim Clark: “It’s an asset that has intrinsic value within its own metal content, and it never goes to zero.” (24:00)
• Cryptos (Bitcoin/Ethereum):
  • Portability, digital storage, no reliance on state currencies.
  • Bitcoin capped at 21 million units; gold and silver extraction is finite but requires energy and labor.
  • Damon Jones: “Bitcoin does not pay a dividend. Bitcoin has no cash flow. Ultimately ... the present value of bitcoin ... would be zero because there's no cash flow.” (29:47)
  • Robert Kiyosaki: “With bitcoin, you have to know when to buy and when to sell. And with gold and silver, I hold on forever.” (34:09)

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6. The Rise of Asset-Backed Cryptos and Risks of Stablecoins

• Prospects for cryptos backed by real assets (gold, silver, soybeans) using technologies like Ethereum/blockchain.
• Warnings about potential frauds and upcoming scandals in the stablecoin sector.
  • Robert Kiyosaki: “Ethereum is going to be big time. ... But the fraud has just begun. So that's why I'd rather have gold and silver, even with storage problems.” (30:50)

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7. Counterparty Risk and True Asset Ownership

• Fundamental difference: Gold and silver “in your hand” carry no counterparty risk, unlike stocks, bonds, or even digital assets, which rely on issuers or system access.
  • Damon Jones: “With gold and silver, ... it is independent of another person's promise. Nobody has to make a promise for gold to have value.” (32:13)

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8. Outlook for Precious Metals and Digital Assets

• Both Jim and Damon see increased demand and higher prices for gold and silver, potentially scarcity (“availability, not price, becomes the question”).
• Kiyosaki owns all: gold, silver, bitcoin, Ethereum; advocates diversification and learning how to time crypto trades.
  • Robert Kiyosaki: “It'll always be money. ... It’s about availability: Can you still get it at any price?” (34:52)
  • Jim Clark: “Cryptocurrencies and gold and silver are very compatible because ... people buy them because they don't trust the currency of the realm.” (34:52)

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Notable Quotes & Memorable Moments

• On Fiat Currency and Savers:

  “Savers were losers. ... You're not saving money today, you're saving fake money, the US dollar.”
  —Robert Kiyosaki (13:47)

• On Government and Wall Street Manipulation:

  “The Hunt Bros. were doing it illegally, but the US Government came after him and did it illegally.”
  —Robert Kiyosaki (06:01)

• On Silver's Industrial Role:

  “Silver allows everything to function, whether it's your semiconductors, whether it's your solar panels, electricity, you need solar.”
  —Damon Jones (20:54)

• On Counterparty Risk:

  “With gold and silver, ... it is independent of another person's promise. Nobody has to make a promise for gold to have value.”
  —Damon Jones (32:13)

• On Bitcoin vs. Gold/Silver:

  “With bitcoin, you have to know when to buy and when to sell. And with gold and silver, I hold on forever.”
  —Robert Kiyosaki (34:09)

• On Diversification:

  “I own all of it. ... It's about availability: Can you still get it at any price?”
  —Robert Kiyosaki (34:52)

• On Central Banks’ Behavior:

  “Central banks are dumping bonds to buy gold. ... Only a loser would think [bonds are safe].”
  —Robert Kiyosaki (32:55)

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Timestamps for Key Segments

• Introductions & Guest Backgrounds — 03:16–05:52
• The Hunt Brothers and Market Manipulation — 05:52–10:04
• Silver’s Strategic and Industrial Role — 10:04–14:00; 20:16–23:00
• Fiat Money, Inflation & Wealth Erosion — 13:47–15:46
• Pros & Cons of Precious Metals vs. Crypto — 24:00–29:47
• Asset-Backed Crypto and Stablecoin Risks — 29:47–32:00
• Counterparty Risk Explained — 32:13–33:19
• Final Thoughts & Diversification — 34:09–36:37

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Conclusion & Takeaways

• Gold and silver remain vital as hedges against inflation, counterparty risk, and government currency devaluation; silver’s industrial demand is set to soar due to technology.
• Bitcoin and crypto can offer portability and independence but require skillful timing and carry unique risks, especially with the proliferation of "fiat cryptos" versus asset-backed tokens.
• Diversification and self-education are key: Don’t blindly save in fiat. Own real assets, learn how to leverage crypto prudently, and always choose tools that work for your circumstance.
• Parental advice: Teach kids about real money, financial sovereignty, and not just to "work hard, save money, and pay taxes"—break free from the rat race.

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Relevant Web Resources:

• Republic Monetary Exchange
• RealMoneyForFreePeople.com (Jim Clark’s book offer)

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Transcript

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[Jim Clark]

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[Rich Dad Radio Announcer]

Here's Robert Kiyosaki.

[Robert Kiyosaki]

Hello, Hello, Hello. Robert Kiyosaki, Rich dad radio show broadcasting from Phoenix, Arizona, where it's either heaven or hell. And today it's heaven. The best weather in the world. A very special show today because there's a lot of controversy on the issue of, you know, the dollar, which is fake. Then you have crypto or bitcoin and ethereum. And I think there's 2500 cryptos now and then gold and silver. So I have. Jim Clark is one of my guests today. He's been friends for a long time. I bought. For full disclosure, I buy gold and silver from Jim. Of course it's right down the street from me. And Damon Jones also worked. They work together, but it's a very important show because there's another guy called Peter Schiff who's a friend of mine, and Schiff's always trashing bitcoin. And as you know, Trump is the bitcoin president. His two sons, Don Jr. And Eric, who are friends of mine, they made a billion dollars in crypto. Not that they need the money, but they're very good business people. So stay tuned because you're going to hear the pros and cons from the, let's say the gold and silver side versus the crypto side. And for full disclosures, I have both. I have. I don't discriminate between what makes me money. I'm quite happy with it. Just do it legal, ethically, illegal, ethically and morally, and pay your taxes. So, Jim, welcome to the show. Yeah, thank you. And then, Damon, thanks for being on the program.

[Damon Jones]

Thanks, Robert. Great to be here.

[Robert Kiyosaki]

Let's start with Damon. What's your background? How come you work for gold and silver? Why would you work for this ancient pile of rock?

[Damon Jones]

Well, it's interesting, my background, out of college, I became a foreign currency trader. So when I was a foreign currency trader, fx. Yeah, Forex trading. And you still had the German mark, you still had the lira, you still had, had all the currencies of Europe that you could trade.

[Jim Clark]

And.

[Damon Jones]

And obviously those things have gone by the wayside, but that's how I got myself started in currencies. I then became a member.

[Robert Kiyosaki]

There was a lira, the pay all the other currencies, but they were.

[Damon Jones]

That's right, that's right, yeah. And then I became a stockbroker. I did that for about 14 years. Even when I was a stockbroker, I still recommended precious metals. I felt they were an important part of the wealth insurance part of your portfolio. And about 17 years ago, I stumbled upon Republic Monetary Exchange, and I've been here ever since.

[Robert Kiyosaki]

Okay, thank you. And Jim, give us your background, please. And by the way, they're located right down the street from me on Camelback in Phoenix, Arizona. Correct.

[Jim Clark]

So, Robert, I've been in the precious metals business for 52 years now. So I did this right out of college and I've never looked back and I've never regretted one minute of it. It's been a great ride and I Wish I had 52 more years to do it, but this has been a nice long ride and I expect to be here for several more years. But I've seen the gold and silver markets all over the map. I've seen them react and respond to various issues in the news and the buying and the selling. I. I've seen it all. I. You and I had dinner several months ago about the Hunt brothers. How I was involved with selling them about a quarter of a billion dollars of the silver that they purchased back in 1979 and right up to 1980. So that was probably one of the more exciting periods in my life, was dealing with the Hunt brothers and watching silver go from five to $50 an ounce and in just a matter of a year or so. And gold went from about $100 an ounce to 850 also in a matter of a few years. And then I've seen it all over the map ever since then. And we're in a very, very crazy market right now, as we talked about just the other day, especially with silver.

[Robert Kiyosaki]

Because there are oil guys who are rich guys and they thought they could corner the market in silver.

[Jim Clark]

And they.

[Robert Kiyosaki]

They bought tons and tons of silver that actually, they actually were so rich they actually tilted the market in their favor. And then somebody shut them down. And I think one of the federal judges says we put the wrong people in jail. You know, Hunt Bros. Were doing it illegally, but the US Government came after him and did it illegally. But I remember that time I was just starting out and I was, I was. I've been buying silver since 1965. And when I sell silver, just go from nothing to how much an ounce, Jim, did they drive it up to?

[Jim Clark]

It's over $65 an ounce. It was close to 67 earlier today, but this is a record high number today.

[Robert Kiyosaki]

As we tape, how much did the Hot brothers drive silver up to?

[Jim Clark]

So they went from $5 an ounce and early 79 until January of 1980. They rose. That went from $5 an ounce to 50. And when the thieves on the board of governors at Comex and all of the short sellers decided that they wanted to put the kibosh on the Hunt brothers, they exercised Rule 7, which allowed them to restrict the Hunt brothers from buying any more silver they could only sell. So if you had short positions in silver, you could buy but you. Nobody could institute new long positions, including the Hunt brothers. And that's how it went from $50 an ounce to $10 an ounce in just a matter of hours. And they were swindled by the exchanges and the short sellers by 1 to 2 billion dollars is the estimate. But they were doing nothing more than what we what people are doing today is that they wanted to hedge their dollars with something of solid value, and that would be silver. In fact, Bunker Hunt told me once that he thought silver was more valuable than gold. And to some respects, he's right. Because the, the uses for silver are much greater now than ever. You have in the medical field, you have solar panels, iPhones, all of the instruments that we're using now in everyday use is off the charts as to the amount that's needed. And there's a great shortfall from what is being produced each year to what is actually coming to the market. So we're in a very topsy turvy situation right now in the markets.

[Robert Kiyosaki]

Who screwed the Hot brothers?

[Jim Clark]

It was the exchange and the board of governors who were shorting silver all the way up to the top. And they instituted Rule 7, which didn't allow the Hunt brothers to support their positions. And they had, were controlling roughly $100 million, 100 million ounces of silver, which was a huge amount at the time. It's not so much today because there's a lot more above ground silver known, but because they were short, they were protecting themselves. And if the Hunts couldn't buy anymore, the only thing that could happen is that the price could come crashing down. And it, and it did just that. And the trade houses, the hedge funds, the various institutions that trade precious metals, they were bailed out of their short positions, which they were deep underwater with, and they came out clean as a whistle. And the hunt brothers lost one to $2 billion, which at that time was a lot of money. Today, it's not so much when you think about all the billionaires that are involved in the silver market, that, that's why I'm saying it's in a topsy turvy market right now that you've got all these different reasons for owning silver and people that are shorting silver and it's, it's like nothing I've ever seen before.

[Robert Kiyosaki]

Right. And silver is a structural metal. In other words, it's used. The Chinese are hoarding it right now because if they can have silver at a good price when they're buying even the, the liquid dory bars and all those things.

[Damon Jones]

Well, not only that, I don't know if you heard, but China's silver export ban starts January 1st.

[Robert Kiyosaki]

Yeah, silver is the most valuable metal. And I agree with the Hunt brothers. I think silver is more valuable than gold. But I started buying in 65 just because. And this is from Jim Clark here. You hold up a little a Little quarter or half dollar. In 1964, it was silver. Then 65, it turned to copper. And that was Gresham's laws. When the bad money enters the system, good money goes into hiding. So the government has been playing games with money. And silver is such an essential metal for industry versus gold. The other part is that every time you fire a Tomahawk missile into these war areas, I think so many ounces of silver blow up out there. And it takes a long time to silver and produce silver. And we're burning it up at high speed right now. That's what the Chinese are hoarding it. And so the people holding, hoarding gold are kind of out of it. And then one more, one more, I don't know what you call it, but J.P. morgan, they got sued. How much? For manipulating silver.

[Damon Jones]

I think they had to pay a $900 million fine for spoofing Silver.

[Robert Kiyosaki]

Yeah. Because J.P. morgan was manipulating the price of silver. And guess what? So they sued them to get almost a billion dollars in fines. And they're the same guys still selling the slv, which is fake silver, paper silver. So it's one of the most volatile, misunderstood metals yet. It's structural. It's used in everything we do today. And you know, the more as we go to AI artificial intelligence, silver goes up in value, yet the price is suppressed. Exactly. I think that's one of the most important investments people can make today. So that's my. That's my silver.

[Jim Clark]

So if. If the government weren't printing up so many Federal Reserve notes and with just a printing press and a keystroke, just adding billions and trillions of dollars to the national debt and to their balance sheet and then buying silver and gold with that paper, we wouldn't have the situation that we're in today because not only do we have fundamental demand for silver like we've never seen before, but you also have the investors who want out of their paper money and have something that's tangible. And I recognize that in 1972, when I bought my first gold and silver, it was. Silver was like a dollar and a quarter an ounce. And gold was around $45 an ounce. And we had the problem then when Nixon took us off the gold standard in 1971, a lot of the. Our grand. The grandparents that we would recognize today, they were buying silver and gold and passing it on as generational wealth. And we're seeing third generation young people bringing silver and gold that their grandparents had set aside for them back in the early 1970s. And you and I have had that conversation before. We bought our first gold at about the same time in the early 70s and we have not looked back. And a tube of gold piece, 1 oz gold pieces costs less than a tube of silver pieces of the same ounces today.

[Robert Kiyosaki]

Yeah. So this before we go to break here, I wrote about this book here, rich dad, poor dad, that savers were losers. The reason I say that is because our illustrious economic academic systems save money. And what these idiots in the school system don't realize, that you're not saving money today, you're saving fake money, the US dollar. And as the national debt goes past 38 trillion on one side, but on the balance sheet our national debt is like 260 trillion. They're going to keep printing more money and people keep trying to save US dollars or yen or euros and all this. It's really stupid, stupid, stupid, stupid. But they want to save money with fake money. And that's why I want to bring Jim and Damon on. Because I think you better understand, because I buy gold, silver and bitcoin and Ethereum and I make money all the time. But why not make money then save fake money? I don't understand people and silver today, in my opinion. And we don't give recommendations. We're not an investment advisory show that I would rather have. Everybody can afford silver, yet it's still $65 an ounce. You can still afford that where bitcoin's up at 90,000 and gold's at 4,000. So even a poor person can afford silver, but they'll hang on to the stupid peso, the yen, the dollar or the euro. So we come back, we're going into what's better for you. Like I said, I think Peter Schiff is funny that Trump called him a loser because he trash. So I come back a little bit more with Jim Clark and David Jones on advantages of gold, silver and a new field called crypto. Because if you know what you're doing, you can make money in all of it and you can lose money in all of them.

[Jim Clark]

Can I just say something real quick, Robert, before we break away and we talked about this before My book, Real Money for Free People, I talk about the hunt situation in the book and I'm recommending it that you could go to our website, realmoneyforfreepeople.com and if you like, I'll send your listeners a copy, a signed copy of this book as a courtesy to you.

[Robert Kiyosaki]

You'll send anybody who calls in?

[Jim Clark]

Well, yeah, they could go online. They could subscribe to Our newsletter. They can order the book and I'll do it as a courtesy to you that I'll send them a signed copy.

[Robert Kiyosaki]

And what's the website?

[Jim Clark]

It's Real Money for Free People Dot com.

[Robert Kiyosaki]

That's the name of the website, right? And your company is called Republic Monetary Exchange.

[Jim Clark]

Correct. And that's rmegold.com?

[Robert Kiyosaki]

Yeah. So all you people who are losers out there saving dollars, working hard for dollars or the euro or the yen or the peso, this your show because you're being screwed because your mommy and daddy told you to work hard for money and pay your taxes. So we come back more as to why you should buy gold, silver or Bitcoin. We'll be right back.

[Rich Dad Radio Announcer]

For years I warned the biggest crash in history was coming. People laughed. They said I was overreacting. But today the crash has arrived. It's not only the United States. Europe is cracking. Asia is cracking. Jobs are disappearing. AI is wiping out entire career paths. And when the jobs vanish, real estate collapses. Offices empty, homes fall. Banks get hit next. This is exactly what I wrote in Rich Dad's prophecy back in 2013. Everything I warned about is unfolding. Millions will lose everything because they stayed in paper assets. They trusted Wall street, they trusted politicians, they trusted the Fed. That saved them. The Fed is out of moves. Inflation is rising again. Debt is over $38 trillion. The dollar is weakening fast and the old system is breaking. But here's the good news. If you are prepared, the crisis will be the greatest wealth building opportunity of your life. This is why I keep telling people to buy gold and silver. Gold is soaring in 2025 and I expect even bigger gains in 2026. Silver is $50 today. I predict $70 soon and possibly $200 in 2026. Most people will panic. The prepared will get rich. If you want to be on the right side of the crash, get the 2025 rich dad wealth Defense Guide. You can add gold or silver to your IRA or 401k legally tax free and penalty free. Call 866-703-9895 or text guide the 24999 again call 866-703-9895, or text guide the 24999. Get your free Wealth Defense Guide. The crash has begun. Do not wait.

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[Robert Kiyosaki]

Welcome back. Today, very important show, the Rich dad radio show. Not really radio, it's a podcast show, but we have old friend Jim Clark and Damon Jones and we're talking about is gold, silver or bitcoin better for you? And gold and silver have been money for thousands of years. Bitcoin is about 15 years and money is flying all over. Reason that's happening is 1971, Nixon took the dollar off the gold standard and money became debt. And then what happened in 64, 65, they took our real silver money and they turned it into copper. So they've been playing games with our money. And when you play games with money, the rich get richer and the poor middle class get poorer. So that's what we see happening today. I can't believe the homelessness spreading across this country because every time you print money, guys like us get richer. But the working class people, people still working for money, getting poorer. So let's go into the future since silver and gold have been ancient money. So Damian, what's happening in the future? What do you see happening now? What are the Chinese or Samsung?

[Damon Jones]

So yeah, there's a lot going on in Asia with regard to silver. And you talked earlier about Bunker Hunt and how he felt that silver was more valuable than gold. And part of the reason for that is silver is used in so much industry. And when you dig gold out of the ground, guess what? It ends up in a vault somewhere. When you dig silver out of the ground, half of it is. At least half of it is being used in something. Well, that's just getting the demand for that physical silver is just going up higher and higher for industrial purposes. So what China has done one thing, Damon.

[Robert Kiyosaki]

The more we go into information age, the more valuable silver becomes than gold.

[Damon Jones]

That's right, because silver you have to put. Silver allows everything to function, whether it's your semiconductors, whether it's your solar panels, electricity, you need solar.

[Robert Kiyosaki]

Yeah.

[Damon Jones]

With the new technology that's coming out, the battery technology and the solar technology, that's just requiring more and more silver. So what China has done is basically understands, like we understand now, that silver is a critical mineral. And they've proceeded to put an export ban on Silver starting January 1st.

[Robert Kiyosaki]

The Chinese did, Chinese did.

[Damon Jones]

And this also coincides with, with byd, which is a Chinese company which is the largest manufacturer of batteries. They are going to be introducing the silver solid state battery and it requires a tremendous amount of silver to make these batteries. But they're, they're really efficient. We're talking thousand mile range, we're talking 10 minute charges. These are going to be the batteries that everybody's going to want for their EVs. Well the key is you got to have the silver and that's why companies that are in China, in Japan, instead of going to the lbma, instead of going to comex, they're actually going to the sources of silver. Now. They need to tie up that silver for their critical components. They're going right to the source. We're just talking about one company, but there are literally thousands of companies that need silver and they're going to go where the silver is being mined and they're going to buy it before we have the opportunity to get it if they can.

[Robert Kiyosaki]

Right. Jim, any comments on the future of silver is ancient?

[Jim Clark]

Yeah, silver's actually been around and used as money longer than gold has. We know at least 6,000 years with gold and probably another 2 to 4,000 with silver. And a lot of people call it the poor man's gold or you and I call them the silver stackers. When you can have a tube of silver pieces for you know, 12 to 15 hundred dollars as opposed to one gold piece, you could get maybe a quarter of an ounce or half an ounce for the same amount of money that you would pay for a tube of silver eagles. So I like, I like both of them. And the attention to silver has been like nothing else I've ever seen in my 52 years that there are more players in the market. There are a lot of paper contracts that are coming to root, coming back to roost now. And I think that's why we see the price of $65. It's not going to surprise me to see in the first quarter next year silver well over 100 and I think maybe on its way to 2 or $300, maybe not next year, but sometime in the near future. But it's not that silver has become more valuable, although it is that the price is reflective because of the paper money that has become worth, become worth less and less. That's why we have record prices that investors all over the world are saying we don't want America's paper dollars. And as Dan was talking before about the currencies that have come by the, gone by the wayside over the years just since he was in the foreign exchange business, the dollar at some point is going to go by the wayside, and who's ever holding them is going to be holding the bag. If you're holding gold and silver, it's an asset that speaks for itself. It's a. It's an asset that has intrinsic value within its own metal content, and it never goes to zero. The value of gold and silver will always be something in relationship to the medium of exchange that we use. In our case, it's the US Dollar. And if they keep printing up more and more dollars, I believe that the attention to gold and silver will be much greater than ever. And I also think bitcoin, that when it came around 16 years ago, it was because the same investors that are buying silver and gold, they said, well, can we have something else that is outside of the dollar? And The Bitcoin having 21 million units maximum, that's how it came about. So that's the granddaddy of all the crypto money. And we've had 2,500 others that have come on board since then. Well, that's going to increase as the technology comes about to create more crypto money. There's going to be more and more of these cryptos. So it's almost like there's going to be an unlimited amount of crypto money in circulation. Whereas gold and silver, you've got to go actually mine that, not mine it in the sense that you mine a bitcoin and you use a lot of energy to do so. You're going to have to use a lot of energy to dig down and find the gold and silver. And the earth only has so much of it, and once it's gone, it's pretty much gone and it's not even going to be so much. What is the price of silver? What is the availability of it? What is the availability of gold? And it may not be there in the not too distant future, because who's going to want to trade their gold and silver and get Federal Reserve notes that can be printed unlimited amounts at any given point.

[Robert Kiyosaki]

Do you own any Bitcoin or Ethereum and all that stuff?

[Jim Clark]

I own none of it and I never have.

[Robert Kiyosaki]

I missed any.

[Damon Jones]

I sold my bitcoin. I sold it early. I used to mine for bitcoin. I never bought any bitcoin.

[Robert Kiyosaki]

So I own bitcoin. I made a fortune in it. But you have to know when to enter and when to exit. And there's a difference between. The big difference, too, is that with silver and gold, you have Storage problems. I had a friend who stood on stage one day and he says, I keep all my gold and silver at my house. I said, why don't you tell people? Come on over, because that's what they got to do. And so bitcoin's advantage is basically electronic money, and it can hide and you can carry it in your wallet. So there's advantages to both. But just have to understand there's no such thing as safe money. Even gold and silver goes up and down. And today, after the Hunt brothers tried to corner the market, silver's still around where it was when, 20, 30 years ago. And everybody in the world can afford an ounce of silver, 64 bucks. It may take them a year to pay for it, some of these people. But it's better to have silver than paper. The biggest storage. So, I mean, how much do people pay for storage of gold and silver, Jim?

[Jim Clark]

Because I. I don't. I don't know. I don't get into those topics of. I don't want to know where people put their gold and silver, and that's their business. If they. I recommend typically a floor safe or something secure, and you have a. An alarm and all of that. But I don't know what they pay for storage fees for it.

[Robert Kiyosaki]

You don't want to store it at home because you're inviting people over, you know, for. For entertainment here.

[Damon Jones]

You just want to be very discreet with what you own.

[Robert Kiyosaki]

Right.

[Damon Jones]

Especially if it's a physical asset.

[Robert Kiyosaki]

Well, my biggest problem is I started buying silver in 65, and then Jim knows I'd go to his store, Republic Monetary Exchange on Camelback in Phoenix. And they come in these grain boxes, and pretty soon these freaking grain boxes, they were stacking to the ceiling, what am I going to do with this here? So I have to go rent a vault outside of Phoenix to hide it there. And it's a good problem because I made a lot of money just buying the stuff. But storage also becomes an expense. You don't have a bitcoin or ethereum or crypto that.

[Jim Clark]

Well, that is the bad news, that it's hard to store silver, but the good news is it's priced in ounces. So if you have a lot of silver and you have a lot of pounds of silver, you're in good shape no matter where you have it.

[Robert Kiyosaki]

And the reason I bought Silver Eagles US Coins is because if the dollar did collapse or the yen collapse or the euro collapsed, I can still walk around with silver dollars in my hand and trade. But you walk around with A dead money like the Weimar Republic, which brought why my Republic is what, what brought Hitler to power. They printed so much of it, they were using paper for firewood. And that's what I think might happen. An outside chance is you'll be having so much hyperinflation with US dollars or euro or yen or pesos that you'd be using it for firewood. But gold and silver will be gold and silver. Any comments on that, Damon?

[Damon Jones]

Well, what I would say is with bitcoin, yeah, it's very portable. You can move money, large amounts of money, very quickly over borders. Doesn't seem to slow it down. But the thing about bitcoin is it was first early adopters, IT represents over 50% of crypto market cap is in bitcoin. But ultimately bitcoin does not pay a dividend. Bitcoin has no cash flow. Ultimately, if I was to calculate using fundamental financial calculations on the present value of bitcoin, every calculation would be zero because there's no cash flow, there's no dividend, and you can't use it utility wise for anything other than to move money around. So I think ultimately as cryptos start to be asset backed, like your gold cryptos, your silver cryptos, your soybean cryptos, whatever happens to come out, I think the asset backed cryptos is where we're headed. And the fiat cryptos are going to go the way of the dollar.

[Robert Kiyosaki]

Yeah. And one more thing that's happened, I was listening to Jim Rickards and what happens is this Ethereum is boring. It's like blockchain. So what it does is, let's say the three of us, Jim Damon and I invented the Jim Damon Robert crypto. We would use Ethereum to back it with gold. In other words, it's like the, the ethereum becomes like the storage vault and we back it with that. And what Jim Rickert said is a friend of mine, he goes, you're going to see a scandal so big because they call it stable coins and every crook wants an opportunity to lie to you. So Ethereum is going to be big time. I own some of that too. But the fraud has just begun. So that's why I'd rather have gold and silver, even storage problems with it, because it'll always be money. It's been money for thousands and thousands of years and silver is still affordable. And yet people would rather have cash. Makes no sense to me. So final words, Jim, final words.

[Jim Clark]

Uncontacted tier one asset. So there's no counterparty risk for anybody, but if you have it and you have possession of it. Explain counterparty so that. Damon, you go into that.

[Damon Jones]

So counterparty risk is basically when you own an asset like a stock or a bond, the stock or bond only has value as long as your counterparties or the other person, let's say the CEO of the company isn't cooking the books to make your stock have value. Or if the company that you lent money to fails to make an interest payment or doesn't make their bond payment, that's counterparty risk. All of a sudden, that asset isn't worth anything. Well, with gold and silver, they've already dug it out of the ground. You can now hold it in your hand so it is independent of another person's promise. Nobody has to make a promise for gold to have value. Already dug it out of the ground. Whereas a stock, bond, all that someone has to perform for your asset to have value.

[Robert Kiyosaki]

Right? Like the US Bond. They say, safe. US Is the biggest debtor nation in world history. How can the bond be safe? I mean, people are that freaking stupid, you know, And China and Japan are dumping U.S. bonds to buy gold. Central banks are dumping bonds to buy gold. And people are saying, oh, bonds are safe. Only a loser would think that.

[Jim Clark]

So when you have all this currency out there in the world and whether it's crypto or whether it's actual currency of the realm, there's not enough gold and silver to go around for everybody that's ultimately going to want it. So I'm asked frequently, haven't you, don't you think that gold and silver is topped out and it's only going to go lower from here? Well, we had a podcast three years ago, Robert, and silver and gold were less than half the price that it is now. And that question came up, I said, no, this is just revving up. This is just the beginning that investors all over the world are saying, I want something other than some paper promise. And they want the actual physical gold and silver in their hand. And that's the hedge against inflation that we talked about back in 1972.

[Robert Kiyosaki]

So let's complete this conversation. It's gold, silver, bitcoin, crypto, ethereum, and all this stuff. I own all of it. So, Peter Schiff trashing crypto, multiple loser. I think it's one of the funniest things I've seen in a long time. Peter's a friend of mine. He's a smart boy, but he talks this book and, you know, he's. It's only one way with Peter. It's his way. But the thing that cracks me up is with bitcoin, you have to know when to buy and when to sell. And with gold and silver, I hold on forever. That's a big, big difference because it'll go up and down in price. But in my opinion, it'll always be money. Final words, will it always be money?

[Jim Clark]

So what it really comes down to is not so much what is the price of silver, because we're talking about federal reserve notes, we're talking about a debt instrument. So 65 debt instruments it takes to buy an ounce of silver and 4300 debt instruments it takes to buy an ounce of gold. It's not going to be so much. What is the price? What is the availability? Can you still get it at any price? And if you won't take dollars, what will you take? You want to be paid in bitcoin or ethereum or something else. And I think that the cryptocurrencies and gold and silver are very compatible because they came about and people buy them because they don't trust the currency of the realm. Because governments have a way of printing up a lot more than they have something to back it with. And I was going to wanted to show this. This is a $10 gold certificate from 1922. This was not money at all. This was merely a certificate for money for a gold coin that was on deposit at a bank. And that's how this paper money thing came about, is that people were trading their gold certificates or silver certificates up until 1964, and they weren't moving the silver and gold at all. Now people are saying, I want the gold and silver in my hand, not the paper money. That doesn't represent anything.

[Robert Kiyosaki]

Right, Damon, final word.

[Damon Jones]

Yeah, I agree with Jim. I mean, money is golden. It's God's money. I've heard you say it many times, Robert. Gold and silver is God's money. And I trust God.

[Robert Kiyosaki]

Yeah. So thank you, gentlemen. Thank you for your wealth of information. A lot of choices today, but I would rather put. I want something that God made. Gold, silver, and bitcoin. I trade fast. I have to know when to enter and when to exit. That's the big difference. So thanks very much, gentlemen.

[Jim Clark]

Thank you, sir.

[Damon Jones]

Yeah, thanks, Robert.

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[Jim Clark]

Santa. Santa, did you get my letter?

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[Jim Clark]

I'm not.

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Right, Santa, you know my elf, Drew Ski here.

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[Robert Kiyosaki]

Welcome back. I want to thank Jim Clark and Damon for being part of this show. Like I said, Golden Silver been in there for thousands of years and Bitcoin's 15 years. Now you make your choice up again. Rich dad makes no recommendations. I tell people what I do. I own all three. Gold, Silver, Bitcoin and Ethereum. And the thing I want to say about this one, behind me is a cash flow board game and this book here is Rich Dad, Poor Dad. It's still number one of the 25 years. The importance of Rich Dad Poor dad is what are you teaching your kids about money? You see, my poor dad taught me to go to school Get a job and save money. He taught my brothers and sisters to go to school, get, get Money, get your PhDs and all that. So my brothers and sisters all have master's degrees. I'm the stupid one in my family. But they have no money because they work hard for money, the US Dollar. Whereas rich dad we started teaching my son and I about money. Age 10, I understood that money was important in our family. You know, being Christians. They said, well, love of money is root of all evil. That's what we taught at our family. Get your PhD. And my rich dad says, understand that, you know, you play Monopoly in real life, so money's just a game. So today I own four greenhouses. Red Hotels, Gold, Silver and Crypto. So what are you teaching your kids? Go to school and work hard and save money and pay taxes. Don't be a loser. Be a good parent and teach your kids differently. Thank you very much. This podcast is a presentation of Rich Dad Media network.

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