How to Get Rich During an Economic Crisis!

Summary

Rich Dad Radio Show: How to Get Rich During an Economic Crisis!

Release Date: February 26, 2025

In this compelling episode of the Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business, host Kim Kiyosaki teams up with esteemed panelists Jeff Wang, Robert Helms, and Russell Gray to delve deep into strategies for building wealth amidst economic turmoil. The episode, titled "How to Get Rich During an Economic Crisis!", offers insightful discussions on macroeconomics, cryptocurrency, real estate, and the underlying forces shaping the current financial landscape.

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I. Introduction to the Economic Crisis

Kim Kiyosaki opens the episode by setting the stage for a robust discussion on pressing financial topics:

"We’re going to talk about real estate, we’re going to talk about cryptocurrency, we’re going to talk about the economy, we’re going to talk about inflation. There’s a lot on our plate today..." ([01:09])

She emphasizes the importance of financial education, asserting that the most valuable asset is one’s knowledge and mindset.

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II. The Macroeconomic Landscape

Jeff Wang, a cryptocurrency expert, provides a critical analysis of the current economic situation:

"The reason I talk about macro versus micro and mini, I do have some Bitcoin and Kim and I do a couple of million of that. And we had to have Ethereum, but my fortune isn’t based upon that..." ([06:30])

Jeff distinguishes between macroeconomics (the broader economic factors), microeconomics (individual or business-level decisions), and mini economics (personal financial habits). He criticizes traditional financial advice given to the younger generation, particularly the baby boomers, highlighting the pitfalls of relying solely on jobs, saving money, and investing in the stock market.

Key Points Discussed:

• Quantitative Easing and its Impact: Jeff explains how the government's money-printing strategies lead to inflation, benefiting investors who hold assets like real estate and cryptocurrencies while disadvantaging the working class. He warns of the looming depression despite efforts to stave it off through policies like quantitative easing.

  "When they print money, it causes inflation in the monetary system. In other words, real estate and stocks go up in price. But what it does, it screws the poor people..." ([07:15])

• Debt to GDP Ratio: Highlighting the alarming rise from a 20% debt-to-GDP ratio in 1971 to 140% today, Jeff underscores the unsustainable nature of current economic policies.

  "Every time they print more money, all that increases is the debt. But the economy gets worse... the debt to GDP ratio is now 140%. We're bankrupt." ([08:45])

• FedCoin and Hyperinflation: Jeff warns against the introduction of a Fed-backed cryptocurrency, predicting it could trigger hyperinflation, drawing parallels to historical events like the Weimar Republic and Zimbabwe.

  "If they go to FedCoin because guys like Jeff are messing with the Fed, then we go to what's called Gresham's Law kicks in and we go to hyperinflation." ([10:10])

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III. Cryptocurrency: Hype vs. Reality

Jeff Wang provides a nuanced perspective on the cryptocurrency market, distinguishing between genuine value and fleeting hype:

"Crypto is in the news every single day. Everybody is kind of in this ideal state where enterprise wants to buy it... But crypto is highly speculative and subject to rapid sentiment shifts." ([15:00])

Notable Insights:

• Retail Hype vs. Steady State: Jeff discusses the fluctuating enthusiasm in the crypto market, citing examples like Tesla halting Bitcoin purchases due to environmental concerns and China restricting crypto mining.

  "Crypto sentiment has flipped to bearish right now in the short term. I think we're almost at that point where it's okay, we're almost back to steady state." ([14:35])

• Market Manipulation: Drawing parallels to events like the GameStop saga, Jeff argues that the crypto market is heavily manipulated, making it a risky endeavor for the average investor.

  "It's 100% manipulated. And everybody sits there... unless you're somewhat smart, you're toast." ([16:50])

• Asset Class Evolution: He likens Bitcoin to a store of value akin to gold and silver, emphasizing its role as a new asset class rather than a traditional currency.

  "Bitcoin is a store of value. It's basically an asset class. It's like gold and silver." ([17:25])

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IV. Real Estate: A Proven Wealth-Building Strategy

Robert Helms, host of the Real Estate Guys radio program, shares his extensive background and insights into real estate as a cornerstone for wealth accumulation:

"Real estate is the long game. It’s a real asset that’s tangible, that has utility, and it really doesn’t matter what the price is." ([19:25])

Key Themes:

• Generational Wealth Building: Robert underscores the advantages of real estate, particularly leveraging debt to acquire properties that generate positive cash flow and appreciate over time.

  "Debt is critical because what other asset will the bank loan you 80% of the value, and yet you retain 100% of the upside? That's just a unique situation." ([20:10])

• Tax Benefits: He highlights the tax incentives available in real estate, aligning with Tom Wheelwright’s teachings on utilizing tax codes to one’s advantage.

  "Most of the tax codes in most countries are a series of incentives, the best incentives there are in real estate." ([20:40])

• Sustainability and Utility: Robert emphasizes the enduring utility of real estate, asserting that a property’s functionality remains constant even as market values fluctuate.

  "The utility of that house was it has three bedrooms and two bathrooms... Today, that same house has three bedrooms, two bathrooms and sleeps six people." ([21:00])

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V. Integrating Cryptocurrency and Real Estate in Financial Strategy

The panelists discuss the interplay between cryptocurrency and real estate within a diversified investment portfolio:

"If you use real estate using debt and paying no taxes and creating our own assets like Rich Dad is an international brand, it's an asset." ([10:50])

Jeff Wang and Robert Helms agree that while cryptocurrencies offer significant opportunities, real estate remains a more stable and tangible investment, particularly in times of economic uncertainty.

Actionable Insights:

• Stay Informed: Continuous education and staying abreast of market trends is crucial. Jeff advocates for leveraging newsletters and expert analyses to navigate the volatile crypto landscape.

• Leverage Debt Wisely: Robert advises using debt strategically in real estate to maximize returns while minimizing tax liabilities.

• Diversify Assets: Combining real estate investments with selective cryptocurrency holdings can provide a balanced approach to wealth building.

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VI. Conclusion and Final Thoughts

The episode wraps up with a reaffirmation of the core message: financial education is paramount in navigating economic crises. Kim Kiyosaki emphasizes the importance of learning from seasoned educators like Jeff Wang and Robert Helms to make informed investment decisions.

"Rich dad has always been about the big picture. Thank you." ([28:00])

The panelists collectively stress that building wealth during economic downturns requires a multifaceted approach, blending traditional strategies like real estate investment with emerging opportunities in cryptocurrency, all while maintaining a strong foundation of financial literacy.

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Notable Quotes with Timestamps:

• "When they print money, it causes inflation in the monetary system. In other words, real estate and stocks go up in price. But what it does, it screws the poor people..." — Jeff Wang ([07:15])

• "Bitcoin is a store of value. It's basically an asset class. It's like gold and silver." — Jeff Wang ([17:25])

• "Real estate is the long game. It’s a real asset that’s tangible, that has utility, and it really doesn’t matter what the price is." — Robert Helms ([19:25])

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This episode of Rich Dad Radio Show serves as an invaluable resource for anyone looking to fortify their financial strategies against economic instability. By blending expert insights on macroeconomics, cryptocurrency, and real estate, listeners are equipped with the knowledge to make informed decisions and build resilient wealth.

Transcript

[Robert Kiyosaki]

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[Robert Helms]

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[Robert Kiyosaki]

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[Robert Helms]

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[Robert Kiyosaki]

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[Kim Kiyosaki]

The Food and Drug Administration.

[Robert Kiyosaki]

This product is not intended to diagnose, treat, cure or prevent any disease.

[Russell Gray]

This is the Rich Dad Radio show.

[Robert Kiyosaki]

The good news and bad news about money. Here's Robert Kiyosaki.

[Kim Kiyosaki]

Hello and welcome to Rich Dad World. Thank you so much for tuning in, for being with us. We have a highly esteemed panel of investors and what I would say are real teachers, not fake teachers, real teachers. And these are people who are practicing what they preach and what they teach. So we've got really, we're going to talk about real estate, we're going to talk about cryptocurrency, we're going to talk about the economy, we're going to talk about inflation. There's a lot on our plate today and we're going to, we're going to, it's going to be a gemful session. So thank you again for being with us. Thank you for valuing your financial education. As we say, this is the most important thing, most important asset you've got is right between your ears. So thank you for being a part of this program and look forward to bringing some value your way. And with that, I'll turn it over to Mr. Roberts.

[Jeff Wang]

Well, thank you. My contribution to this program, I'm glad we have our panel today because simply said, the people talk about inflation and all that and it's not true. That's the problem with it. And what is happening is that there is macroeconomics and there's microeconomics and there's mini economics. And I would say 98% of the people are in mini economics. And so what Rich Dad World stands for is what I consider real financial education. And so I don't blame people for getting all excited and saying, you know, I bought bitcoin at a penny and now I'm a multimillionaire. And we all dream of that. That's like saying, eat this food and you'll lose £50. Everybody wants a quick answer to life. And as Kim was saying, that's really not where rich dad stands. It's about constantly updating the real estate between your left ear and your right ear. And most people's gap between the left ear and the right ear is just a little pea brain sitting there. Just tell me what to do, tell me what to do. And so the people that are in most trouble today are my generation, the baby boom generation, because they've got no brains. They listen to people who are idiots who told them to go to school, get a job, work hard, save money, get out of debt, pay your taxes, and invest in long term for the stock market. And I think most of you know, the baby boom generation had the easiest of all generations in history. And they're about to get screwed. And that's why I wrote the book who Stole My Pension With Ted Sadala. So if I could explain something really quickly. The reason I talk about macro versus micro and mini, I do have some Bitcoin and Kim and I do a couple of million of that. And we had to have Ethereum, but my fortune isn't based upon that. And so most people get so excited about what's the price of bitcoin and they miss the big picture. So in a macro world, what happens is when there's a thing called quantitative easing or money printing, what that does cause, it causes inflation in the monetary system. In other words, real estate and stocks go up in price. But what it does, it screws the poor people. So if you don't have all you have is a stupid job and you have a 401, you've been screwed left and right. So the gap between the rich and poor is wider than ever before. The frightening thing is this. With guys like Jack Wang, I'm glad you're on this program and the real estate guys are on this program because we're at opposite ends of the spectrum on the big picture. So if there is a thing which I've been studying lately, it's called Govcoin, if there is a Fed coin, we're all screwed. Because what happens with printing of money through the Fed, it causes asset price inflation, which is why bitcoin's doing well. If the government gets upset and said, well these guys are stepping on my cape here and they produce Fed coin. The trouble with printing of money is we're going into a depression. So please hear that we're going into a depression. And so when they have quantitative easing they're trying to prevent a depression. And the trouble with printing money historically is when you print it, there's a short burst of inflation and we're in such this period right now. You know, real estate prices are up, stock prices are up and all that stuff, but it's only short lived and then it slides back down into depression. So they're trying to stop a depression and it's called the transmission of money. So it's like having four gears to a car. I know everybody knows this stuff, but it's so obvious when they print money they're trying to prevent the depression. But we're going into a depression anyway because it doesn't fix it. And the problem with that, when you print money it only makes investors richer. But they're working class guys, the guys who work in my yard, I feel for them. They're getting screwed left and right because they're working for money. That was rich Dad's rule number one. Don't work for money because money is corrupt. So they print money to try and prevent the depression. But the average guy can't even get a credit card or they have a student loan debt. And that's because with no financial education at school, the only reason the economy expands is we have to have debt. And that started in 1971 when Nixon took the dollar off the gold standard. So here we are 50 years later and it's not working. When I came out of school, I think the debt to GDP ratio was only like 20 to 1 20%. Today it's 140%. We're bankrupt. Now if they, this is where Jeff Wang is important. If they go to FedCoin because guys like Jeff are messing with the Fed, then we go to what's called Gresham's Law kicks in and we go to hyperinflation. When we go to hyperinflation that led to Adolf Hitler, the Weimar Republic led to Mugabe in Zimbabwe and what's his name, Fidel Castro and what's happening in Venezuela today. So Jeff is important to listen to because if they go to fedcoin we're all dead anyway. But it's going to make gold and silver and income producing assets even more important. So I know most people know this, but if they keep printing money the inflation is short lived, but it's only in people who can get debt and people like Jeff who invest in assets that go counter the dollar like Bitcoin, Ethereum and all those fake coins that are out there. So what I'm watching right now. So today the debt to GDP is about 140%. Every time they print more money, all that increases is the debt. But the economy gets worse. That's the trouble when Bernanke started with quantitative easing. So we're at the crossroads. And the reason financialization is more important before you've really got to have a bigger picture on what money is. And so the real estate guys, Kim and I love the real estate guys, is because it's debt. And the more debt we have, the more we borrow, the less tax we pay. So anyway, that's kind of the big picture of money. So the real estate guys are at one end. Kim and I don't have stocks because we don't need stocks. We read Rich Dad, Poor dad said assets put money in your pocket. Kim and I are always creating our own assets. So I don't need to buy stocks, bonds, mutual funds, ETFs. So that's why your financial education is more important. But I would suggest getting the macro, not the mini. So we're at a very crucial turning point in the world economy. And the question is if they keep printing money. We have a short burst of inflation, but it makes it harder on those who are stupid enough to go to school and get a job and work for money. And for people who use real estate using debt and paying no taxes and creating our own assets like Rich dad is an international brand, it's an asset. So as they keep printing money, all that happens is the debt to GDP ratio is now 140%. We're bankrupt. That's all it means. That's like means you make $1,000 a month, but your monthly payments are 1,400amonth. That's basically all it means. And it's going to get worse next year. So that's what happens when quantitative easing comes in, they shift to Fed Coin. It's hyperinflation. So we're fighting a depression, which is why there's quantitative easing. But if they switch to fedcoin, it's hyperinflation. That's the Weimar Republic which brought Hitler to power. So that's why you should listen to Jeff Wang, the real estate guys and all that, because it's really a bigger picture. I'm an entrepreneur. I can make my own assets. I don't need somebody else's assets. So Kim and I make our own assets and we buy real estate because the banks will give us as much money for debt. And the more debt we have, more real estate. We have no taxes. But those are the differences. And that's real financial education. There's no free lunch out there. And the average person is so effing lazy. That's why I'd be told what to do. Oh, should I buy bitcoin? Should I buy real estate to start my own company? Should I go to school so I'll get a job? She'll become a doctor. But they miss the big picture. So that's basically my message. So rich dad has always been about the big picture. Thank you.

[Robert Kiyosaki]

Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news. But the challenges we face as a nation are still here. In four years of chaos, the dollar has lost value. Inflation run rapid, interest rates through the roof, and wars rage across the globe. Trump has inherited an economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from BRICS nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything, it's that we need to take action and protect what we've worked so hard to earn. That's why we partnered with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments. They're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines. Act today. Secure your wealth. Go to protectwithrobert.com or call 8443-ROBERT that's 844-376-2378. Let them help you get started. Protect with robert.com this episode is brought.

[Ryan Seacrest]

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[Kim Kiyosaki]

So with that, if we could have Jeff Wang and then Robert Helms and Russell Gray introduce yourselves and give us a little bit about your background, what you do and what you see happening in your sector, being cryptocurrencies and being real estate, that would be fantastic. So, Jeff, do you want to start?

[Ryan Seacrest]

Sure thing. Yes, I'm Jeff Wang. I'm a host of the Rocket Fuel crypto and Rich dad crypto and part of a team called Rocket Fuel that invests in a lot of these startups in the crypto space. So we're like, really deep in the weeds. We're like playing with the different decentralized apps, we're Talking to the CEOs of these companies and then doing a lot of the research and then putting that onto the newsletters that we hopefully get the community up to speed as to what's going on in crypto. And I can go on for hours on what's going on in crypto right now. But I think the key points are that there is a retail hype that's kind of getting infused into crypto right now. Whether it's Tesla and Elon Musk tweeting about dogecoin or Saturday Night Live is doing NFT videos, they're showing crypto stuff. So crypto is in the news every single day. And everybody is kind of in this ideal state where enterprise wants to buy it. And then retailers think it's like the thing is going to go to infinity, it's going to go to $1 million. Right? So there's this distinguishing thing between retail hype and then steady state. And then right now, retail hype is starting to falter. You have Tesla saying, I don't want to accept Bitcoin anymore. And then that's because of the environmental impacts. And then you have Square saying, oh, you know what? Same thing. We don't want to buy Bitcoin anymore either. So you have all this news, and then China says, well, we don't want to do any more bitcoin mining. We don't want financial institutions trading any cryptocurrencies, coincidentally, as they're releasing their digital currency. So all this crypto sentiment has flipped to bearish right now in the short term. And I think right now we're getting to the levels before the retail hike. So I Think we're almost at that point where it's okay, we're almost back to steady state. But that's my perspective as kind of a, I guess, two minute summary of what's going on in crypto right now.

[Kim Kiyosaki]

It's kind of like the stock market. I mean it's all based on emotion and hype and pr, but there's really no basis for so much of that. So is that very similar to crypto?

[Ryan Seacrest]

It's probably even worse because it's so speculative that there's no other fundamentals backing price and valuations. So any tweet can quickly flip the emotional or the sentiment on any currency. So you see these swings. We used to see like 30 to 50% swings on a daily basis. Now we see like a 20% swing. Everyone panics and we're like, well, it's crypto, that's just how it is. And then people just need to be aware of that.

[Jeff Wang]

But that's like anything, Jeff. You look at what happened with Gamestop and then they tried to short squeeze solver and all this. It's 100% manipulated. And everybody sits there and when I talk to people. So you basically have two choices. You're going to be sit there and be told what to do. Go to school, get a job, work hard, save money, get out of debt, pay your taxes and invest for a long term in a 401, which I would never do, or you can study. So the only question is next, is there going to be fed coin? That's what I'm watching. The rest of you, everybody else is toast unless you're somewhat smart.

[Kim Kiyosaki]

Yeah. And one of the reasons we've got to your point, Robert, One of the reasons we have Jeff on the show and Robert and Russell is that they're educators and we have a newsletter with Jeff and he's educating people about crypto instead of saying just buy this or just buy that. Everybody on this panel are educators and that's, that's who we hang out with. That's why I say they're real teachers, not fake teachers who are just telling you what to do, but they don't.

[Jeff Wang]

Do it themselves and just understand that. I put as crypto, is bitcoin a currency now it's a store of value. It's basically an asset class. It's like gold and silver. Kim and I have gold and silver. We don't use it as money, we don't spend it. So I put crypto, especially bitcoin, because I have a lot of respect for it. What They've done. It's really perfect money, but it's subject to opinion and market forces and people who don't want it to happen. So that's why Rich dad has Jeff on our crypto newsletter, because you got to stay abreast of it. This is the new form of asset class. Will it become money? I don't know. If fedcoin kicks in, we're all screwed anyway. But the real estate guys are the best because the way you get rich is you borrow money. So there's good debt and bad debt, and that's what rich debt is about. So the real estate guys, they were the first guys I talked to when I came out with Rich dad, poor dad, 25 years ago. It's because. Why do I love real estate? Debt and taxes. You like paying taxes, go to school, get a job, save money. But you want to get rich, make a lot of money, use debt and pay no taxes, just the real estate guys.

[Kim Kiyosaki]

So Robert Helms and Russell Gray could please tell us your story. And because we. We go back a long ways, as Robert said, 25 years. And what we love about you guys is that you are teaching people how to benefit in real estate and what to look for and all of that. So, Robert, would you give us a little bit of your. A little bit of your background?

[Robert Helms]

Well, it's always good to see you. And welcome, everybody. I'm Robert Helms, host to the Real Estate Guys radio program. Our 25th year of broadcast on the radio and obviously podcasting in millions of places. It's crazy. I've been a real estate guy for a long time. I grew up in a real estate household. And back then, at first, the part I got wasn't about debt and taxes. The part I got first was somebody else lives in the house and pays all the expenses. The mortgage, the tax, the utilities, and a little bit beyond that, the positive cash flow. And then at the end of that time period, say it's 15 or 30 years, the tenants would make all the payments. And now I own the property free and clear. That's what I first got attracted to. And the next was debt. Debt's critical because what other asset will the bank loan you 80% of the value, and yet you retain 100% of the upside? That's just a unique situation. Very few other assets. Certainly some stock investors can buy on margin, but it's not very much. And if the value changes, there's a margin call. That never happens in real estate. And then the tax part, at first, when you're Starting out, you don't want to pay tax. No one wants to pay tax. But you understand that there's tax laws that require the payment of tax. And as Tom Wheelwright teaches us, you know, a country will show you exactly what they want you to do based on their tax code. And most of the tax codes in most countries are a series of incentives, the best incentives there are in real estate. I always laugh when people decide to move to Puerto Rico to pay no tax. Like, well, that's one way to do it. But the other way is to invest in real estate. And so while we are real estate guys, we love real estate. It's for the reasons Robert talked about. It's the long game. It's, it's a real asset that's tangible, that has utility, and it really doesn't matter what the price is. See, if you bought a house 25 years ago, the utility of that house was it has three bedrooms and two bathrooms and might sleep six people. Today, that same house has three bedrooms, two bathrooms and sleeps six people. So that's the utility. It's not what it's worth in dollars. So over time, the great part about real estate is your tenants pay your mortgage, your tenants pay the utilities, your tenants pay your real estate taxes and everything else. And that way you get wealthy on the efforts of others.

[Robert Kiyosaki]

Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news. But the challenges we face as a nation are still here. In four years of chaos, the dollar has lost value, inflation run rampant, interest rates through the roof, and wars rage across the globe. Trump has inherited an economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from BRICS nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything is that we need to take action and protect what we've worked so hard to earn. That's why we partner with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments, they're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines. Act today. Secure your wealth. Go to protectwithrobert.com or call 844-3-robert, that's 844-376-2378. Let them help you get started. Protectwithrobert.com Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news, but the challenges we face as a nation are still here. In four years of chaos, the dollar has lost value, inflation run rapid interest rates through the roof, and wars rage across the globe. Trump has inherited an economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from brics nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything is that we need to take action and protect what we've worked so hard to earn. That's why we partnered with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments, they're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines. Act today. Secure your wealth. Go to protectwithrobert.com or call 8443-ROBERT. That's 844-376-2378. Let them help you get started. Protect with robert.com.

[Kim Kiyosaki]

So Russell, Russell Gray, how did you get into this world of real estate and all that you do?

[Jeff Wang]

Wow.

[G]

You know, I'm just listening to all this and it's, it's fascinating. I feel like we could do an entire just book study on the comments that have been made up to this point. So a little bit on me and my background. Unlike Robert Helms, I did not grow up in a real estate family, but I grew up in an entrepreneurial, freedom loving family. In my early, just after I got married in my early teens, I bought my first property with the help of a mentor. I didn't even know which way was up. I just walked in and signed all the papers. I started a business. I sold both of them two years later. And the equity in both the property and the business was far more than both my wife and I were making, working full time. So I learned two important lessons early in life, the power of a mentor and the power of equity. I was fortunate enough to get some of the best sales training in the world through IBM and I ended up being able to do Quite well in corporate America. But I was a little fish in a big pond and I had a tax problem and I started looking into how to solve that tax problem. And so one of the things I looked into was real estate. I quickly realized that debt was the key to real estate. I didn't understand debt in the context of the macro economy. That came later. And what I learned as I started to study the macro picture is that you can have the currency going down, but asset prices going up. You can have the economy falling apart. Well, the numbers all look big and it's a hard concept to get your mind around. So when people say, are we going to get inflation, Are we going to get deflation? The answer is we're going to get both. And we're going to get them both at the same time, in my opinion. And so everything that Robert opened up with in his opening comments is spot on. And I really feel like people should take and watch this like five or ten times and really break down the things that Robert said and is saying. And so get around smart people who are interested in studying it like you are and talk with them about it and read what's going on in the news and then read what's going on in between the lines. But the one thing that I've discovered is that the powers that be have a vested interest in propping up real estate. Because the entire banking system, big parts of the banking and financial system, the bond markets, are dependent upon high real estate prices. When real estate prices crash, the collateral goes bad, the debt goes bad, the system implodes. That's what I learned in 2008. And that's not just my opinion, because if you watch the Fed, they are buying billions and billions and billions of dollars of mortgage backed securities every single month. There's no doubt that they are very committed to keeping real estate prices up. So they've mitigated some of the downside. They give you the very debt, the tool that you need to acquire the real estate. And you just have to be very good, coming down to the micro and the mini level to really know your markets, to understand the local economic drivers. And the commentaries that were made earlier about the policies and policies affecting local markets are very, very important. Now there is a way to do real estate where you don't have to get the local market perfect. If you do farmland, for example, or I consider energy, oil and gas to be real estate because it comes out of the ground. And then I think the final point, I want to just reiterate and reinforce is the comments that you made, Kim, about the importance of having a boots on the ground team. You can look at the statistics, you can look at the history, you can look at the news. And those are all reflections of the past. But in order to extrapolate into the future, you need another data point. And that data point is what's going on on the street right now. And you get that from having boots on the ground team that are feeding you intelligence, Actionable intelligence.

[Kim Kiyosaki]

This podcast is a presentation of Rich Dad Media Network.

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