The Collapse No One Is Ready For — Rich Dad's Most Urgent Warnings

Summary

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Episode Overview

Title: "The Collapse No One Is Ready For — Rich Dad's Most Urgent Warnings"
Podcast: Rich Dad Radio Show with Robert Kiyosaki
Date: December 3, 2025

This special episode of the Rich Dad Radio Show, hosted by Robert Kiyosaki, addresses dire warnings about the impending collapse of conventional retirement systems, the fragility of modern financial markets, and the urgency for individuals—especially baby boomers—to reassess how they save and invest. With expert guests Bert Dohmen, Ted Seidel, and Doug Casey, the episode delivers a candid and at times alarming deep-dive into pensions, leverage, inflation, and the unique risks of our times, all delivered in Kiyosaki’s signature forthright style.

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Key Discussion Points and Insights

1. The Shift from Real Assets to Electronic Money and Leverage (02:01–09:11)

• Kiyosaki opens with Buckminster Fuller’s predictions about the evolution of money, referencing the "Gross Universal Cash Heist" (GUCH) and the critique of our banking system.

• Rise of Crypto and Financial Engineering:
  The conversation pivots to Bitcoin and Michael Saylor’s strategy at MicroStrategy (now simply "Strategy"), leveraging debt to buy appreciating assets—paralleling Kiyosaki’s own use of leverage in real estate and oil.

  • Quote:
    “If I pay cash for real estate versus putting 20% down, then when real estate goes up, the person that used leverage does better.” — Financial Expert/Analyst (04:08)

  • Saylor's innovation: Offers preferred instruments tied to Bitcoin with a guaranteed 10% yield to investors, insulating less risk-tolerant retirees from volatility while he manages the upside—mirroring traditional fixed-income vehicles but rooted in crypto.

  • Memorable Comparison:
    “You give me the money, I'll buy Bitcoin, I'll give you 10% yield guarantee and I'll handle the volatility and take the risk.” — Financial Expert/Analyst (08:10)

  • The mechanism is contrasted with dividend stocks: If funding stops, a dividend stock’s future is in peril. With Saylor’s structure, the obligation can be met for 120 years if needed, due to the base asset of Bitcoin.

2. The Pension Crisis and Retirement Fears for Boomers (09:11–18:16, 18:16–22:50)

• Baby Boomers and the ‘Defined Contribution Era’:
  Kiyosaki breaks down how ERISA (1974) signaled a generational change from guaranteed, defined-benefit pensions to risky, do-it-yourself 401(k)s and IRAs:

  • Quote:
    “Anytime the government says our act is to protect your income, bend over and don't pick up the soap...they're going to get you.” — Robert Kiyosaki (18:21)

  • Many boomers don’t know what’s actually in their retirement accounts (bonds, stocks, ETFs) and lack financial literacy—leaving them at great risk.

• Leverage and ETF Dangers:
  Bert Dohmen (Dohmen Capital Research) discusses the proliferation of complex ETFs (double, triple, even five-times leveraged) and warns of catastrophic losses for the uninformed. For example, triple-leveraged ETFs can zero out with only a 20% drop.

  • Quote:
    “Do people realize this? No, they don't realize this...it's incredible. People thought they were going to make three times as much as the stock itself. No, they lost their shirt.” — Bert Dohmen (14:08)

• The Generation Gap:
  The ramifications will extend to Gen X and Gen Z, as millions face underfunded retirements and possible financial ruin.

3. Deep Dive: Pension Mismanagement and Political Corruption (22:50–28:12)

• Ted Seidel’s Forensic Insights:

  • Seidel, renowned for exposing pension corruption, discusses his ongoing investigation into CALPERS (California Public Employees Retirement System), managing nearly $600 billion. He likens their mismanagement to a “bellwether cow” leading the herd—amplifying systemic risk.

    • Quote:
      “If that money is being mismanaged, that's like...a global, a sovereign country...it's a trillion dollars there in those pensions.” — Ted Seidel (23:00)

  • CALPERS’ fall from grace: Once a model of governance, it is now "a poster child for poor governance" and progressive investment fads.

    • Memorable Moment:
      “After 2000, one board member went to prison, another...committed suicide before he was being sentenced. They've just been hit with scandal after scandal.” — Ted Seidel (25:22)

  • State and Local Pension Loophole:
    State pensions are exempt from ERISA; thus, harder to oversee and more vulnerable to corruption.

    • Quote:
      “When they created that law in 1974, they made a huge loophole. All state and local pensions are not subject to ERISA.” — Ted Seidel (27:36)

  • Political gamesmanship takes priority over sound investing, with pension managers sometimes profiting personally ("the toast was buttered on both sides").

4. Inflation, Currency Debasement, and What to Actually Save In (28:12–31:17)

• Doug Casey on the Dollar:

  • Condemns saving in dollars: “They're hot potatoes. It's an IOU nothing on the part of a bankrupt government.” (28:45)

  • Praises gold and silver as timeless safe havens, though admits gold is less “undervalued” today than in his youth, but silver still has upside.

  • Warns that real returns on most assets are negative once adjusted for true inflation, which he estimates at 5–10% (not the official figures).

  • Quote:
    “You can't believe the US government's figures any more than you can believe the Argentine government's figures.” — Doug Casey (30:28)

• Kiyosaki on Real Estate:
  Still considers real estate a potential refuge, emphasizing that disciplined shoppers can always find bargains despite general frothiness.

5. Looming Demographic and Social Challenges (33:36–36:49)

• The “Greater Depression” and Social Fallout:

  • Kiyosaki and Casey discuss 2 billion global baby boomers moving into retirement, with mounting medical and social costs. The rise in homelessness and dependency on government aid is cited as a symptom of systemic breakdown.

  • Quote (referencing Thomas Jefferson):
    “If a central bank takes over, people will wake up homeless in their own country. And now homelessness is exploding across America.” — Robert Kiyosaki (35:50)

  • They criticize reliance on the Federal Reserve and political short-termism, warning that endless money printing destroys savings and ends with currency collapse.

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Notable Quotes & Memorable Moments with Timestamps

• "If I pay cash for real estate versus putting 20% down, then when real estate goes up, the person that used leverage does better." — Financial Expert/Analyst (04:08)
• “You give me the money, I'll buy Bitcoin, I'll give you 10% yield guarantee and I'll handle the volatility and take the risk.” — Financial Expert/Analyst (08:10)
• “Anytime the government says our act is to protect your income, bend over and don't pick up the soap...they're going to get you.” — Robert Kiyosaki (18:21)
• “Do people realize this? No, they don't realize this...People thought they were going to make three times as much as the stock itself. No, they lost their shirt.” — Bert Dohmen (14:08)
• “If that money is being mismanaged, that's like...a global, a sovereign country...it's a trillion dollars there in those pensions.” — Ted Seidel (23:00)
• “After 2000, one board member went to prison, another...committed suicide before he was being sentenced. They've just been hit with scandal after scandal.” — Ted Seidel (25:22)
• "They're hot potatoes. It's an IOU nothing on the part of a bankrupt government." — Doug Casey (28:45)
• “You can't believe the US government's figures any more than you can believe the Argentine government's figures.” — Doug Casey (30:28)
• “If a central bank takes over, people will wake up homeless in their own country. And now homelessness is exploding across America.” — Robert Kiyosaki (35:50)

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Timestamps for Key Segments

• 02:01 – The evolution of money, crypto, and leverage
• 05:57 – Public debt, Bitcoin, and Saylor’s device for retirees
• 09:11 – The birth of 401(k)s and demise of defined pensions for boomers
• 11:01 – Financial illiteracy and dangers of leveraged ETFs (Bert Dohmen)
• 18:16 – The pension time bomb: ERISA and the global shift in retirement saving
• 22:50 – Ted Seidel on CALPERS and public pension scandals
• 28:12 – Doug Casey on currency debasement, gold, silver, and inflation
• 33:36 – Demographic crisis: billions entering retirement, surging dependency
• 35:50 – Exploding homelessness and systemic government failures

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Episode Takeaways

• The collapse is not just financial but systemic, involving governance, demographics, and mass illiteracy about wealth.
• ** Baby boomers and public sector workers face the most imminent danger—but the whole system is at risk.**
• Leverage, when poorly understood, will destroy the savings of millions.
• Trust in traditional vehicles (dollars, pensions, Wall Street products) is eroding—real assets, education, and self-reliance are the new order.
• Preparation, self-education, and a willingness to challenge mainstream advice are critical for survival and prosperity in what Kiyosaki and his guests unanimously regard as “the greatest wealth transfer in history.”

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For more, including practical steps and defensive strategies, listeners are urged to consult Kiyosaki’s Wealth Defense Guide and the works of his expert guests.

Transcript

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[Bert Dohmen]

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[Doug Casey]

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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, hello. Robert Kiyosaki, the Rich dad Radio Show. Mark, welcome to the show. And like I said, you're one of the smartest guys I know when it comes to the exciting new world of electronic money crypto. And you know, my teacher was a man named Dr. R. Buckman. Sir Follery, and he wrote a book called the Critical Path. But this is his book here called the Grunt of Giants. I don't recommend reading it because it's one of his. It's a tough read, but Grunt stands for Gross Universal Cash Heist. And it's how our banking system rips off our wealth via our money. So that's why in Rich dad put it, I said, the rich don't work for money. Your house is not an asset, and savers are losers. And Fuller also predicted that there would be a new form of money coming on the floor. He was a futurist. And so Buckminster Fuller talked about Gross Universal Cash ice. He talked about he was watching kids playing video games, and he says, that's the future of money. And then, as we know, Bitcoin's now taking the world by storm. And everybody's into crypto. You have this guy, Michael Saylor, and you have Tom Lee. And there Michael Saylor is using the leverage of Wall street with a public company.

[Financial Expert/Analyst]

Yeah.

[Robert Kiyosaki]

Collect. What's the name of his company?

[Financial Expert/Analyst]

Strategy. It was MicroStrategy, and now it's called Strategy.

[Robert Kiyosaki]

Then you have Tom Lee, who I think, through kind of a similar thing, his building block is Ethereum.

[Financial Expert/Analyst]

Yes.

[Robert Kiyosaki]

Could you explain quickly what, as best you can, what Saylor is up to, how these as a company, but to leverage it through a stock is shares of his company.

[Financial Expert/Analyst]

Yeah. So there's really two parts to his company. So there's MicroStrategy, which is now strategy, but the stock is still MSPR, and there's the common stock of that. And what he's done is he's using public debt and equity markets, debt and credit markets to leverage up his Bitcoin position. So, so very simply, if I buy one Bitcoin and you buy one Bitcoin, but then I borrow 50% of my value against my Bitcoin to buy more, I'll leverage it up. If Bitcoin goes up, I will outperform you because of applied leverage. Same with real estate. Right. If I pay cash for real estate versus putting 20% down, then when real estate goes up, the person that used leverage does better. So what? Using these public vehicles, he's tapping into public debt and equity markets to raise money at low rates to buy an asset that's going up at higher rates. And so that was stage one of the company, which is, hey, I'm going to apply leverage. I'm going to buy Bitcoin. And when you buy my stock, which is the MSCR common Stock, the, the amount of bitcoin per share that you own. My goal is to get that to go up over time. So if you buy, if you buy an etf, one bitcoin is one bitcoin. Your bitcoin doesn't go up. As a matter of fact, your bitcoin goes down because of the fees. But if you want mspr, the exposure, the bitcoin per share goes up over time because of the leverage. Yeah.

[Robert Kiyosaki]

So increase the stock value with that.

[Financial Expert/Analyst]

That's correct. So that was phase one. And what he's done now is changing everything that we know about the world of finance.

[Robert Kiyosaki]

Wait, wait, hold. Hold on one second. It's like me, I'm an oil and gold guy, right? I own gold mines. I take them public. So I take the public's money to oil. I mean for oil or for gold. So I have a company in Utah, gold company. And every time we strike more gold, the share of my company goes up, Right. My exodus, kind of through the share price of my company, the same as my oil company. We borrow money from the open markets, public markets, and we drill for oil, and we make money when we strike oil. Is it kind of what sailors doing?

[Financial Expert/Analyst]

It is, but the turn time is much shorter. So, for example, you borrow money from a public market to go drill for oil, and then you'll hit the oil. But that could be years potentially in between. What he's doing is he's borrowing money from the public market and within an hour converting into bitcoin. But very similar.

[Robert Kiyosaki]

It's tempting.

[Financial Expert/Analyst]

It's tempting. But the next step is where it gets real interesting. So if you think about a bank. So I think the two keys that I talk about building wealth, Robert, is one, leverage. So how can I use. And you call it smart credit, Right? Productive capital. Productive credit, Right. So one, the leverage. How can I use credit or leverage to buy a productive asset that can pay for the debt or plus more? That's one. And then the second is arbitrage. How do I leverage two markets against each other so I can leverage the credit market against the oil market? So what he's done also is now he's raised money to buy Bitcoin. And now that he has the bitcoin as a base layer, as an asset, what do I do with it? Well, what he's recognized is while Bitcoin is the best asset to own, in my opinion, it's the cheat code. In the last three years, it's averaged a 60% compound annual growth rate. This year to date, it's also up about 60%. So what he's done is he said hey, that's great and it can save a lot of these boomers retirements. But if you're say 78 years old on fixed income, you can't go hold bitcoin for five years and you can't summit the volatility. I got to pay my bills, right? I need to pay for my medication, my electricity. So Michael Saylor says this fine, you give me the money all by Bitcoin, I'll give you 10% yield guarantee and all handle the volatility and take the risk. So he's created what's called preferred instruments, preferred stock. There's four of them. I'll keep it simple. But strike Strife Stride. And the new one is Stretch strc. You can buy it in your brokerage account and it's going to pay you ten and a half percent. So when you give him money, he's, it's credit, he's going to pay you 10%, he's going to buy Bitcoin and he'll make the 50% margin. And the beauty of this, Robert, I'll just give you one example, I'll take a break. But when you buy dividend paying stocks, you're, you're buying them based off of the, the future expectation of cash flow, right? If I buy an AT&T dividend stock, I hope that AT&T has cash flow in the future. But with AI disrupting everything, what guarantee is that there will be cash flow in the future? The difference that he's doing is when you give him money, he buys the asset and he's paying a small percentage of revenue off of an asset base. And today if he never took in another penny, he could pay the debt obligation for 120 years. So it's the safest type of credit instrument that you can buy and it pays about double what other assets are paying or credit.

[Robert Kiyosaki]

And the reason I asked Bert on today is because my generation, the boomer generation were the first generation with what's called defined contribution pension plan is called a 401k or an IRA. So that came out in 1974 with an act called ERISA, Employee Retirement Income Security Act. So in 1974 the baby boomers were the first guys where their, let's say the retirement was not assured. See up until 1974 if you worked for, let's say Ford Motor Company or Hawaiian Electric and all those things, your retirement was guaranteed. But for the baby boom generation, our retirements are not guaranteed. And I wrote this book here called the Rich Dad's Prophecy, and I was predicting why the biggest stock market crash in history was coming. Now, I'm kind of guessing when I wrote this book. This book was written 10 years ago. But Bert Dohmen of Dohmen Capital Research is up to date. His finger is on the pulse every single day. His publication is the Wellington Letter. I suggest you get it to find out what he sees coming. Because even if markets crash, you can still make a lot of money, but you have to know what you're doing. So, Bert, the reason I want to want you on again is that I want you to. If you were a baby boomer right now and all you had was a 401k, what would you do? Welcome, Bert.

[Bert Dohmen]

Well, a lot of things, but if you're talking about the markets, I think education is so important. Most people really don't spend enough time reading. Reading is very, very important. I'm teaching my five grandchildren. And they always say, if you want to be a leader, you have to be a reader. And that is so true. So if you're not informed, you're starting out on the wrong foot right away. Right now, for example, I make it a habit of when I meet people and they ask me about the market, okay, what do you have in your 401k? What do you have in your retirement plan? They have no idea. Then I say, well, is it bonds or stocks? I really don't know. I mean, how can people have their life savings and something that they're going to depend on, and they don't even know if they have bonds or stocks or ETFs. I say ETFs, and they say, what's an ETF? You know, so I think it's. People are not doing their homework, and the markets have become very complicated, and you have to learn. They don't teach you this in school. And that's what I liked in the first book that you had that I read, Rich Dad, Poor dad, and that schools, maybe they're doing this on purpose, not educating people of what they need to know in life.

[Robert Kiyosaki]

I mean, and if you were 70 years old, a baby boomer, and you had no financial education, all you have is a 401k and you got probably, let's say you're 70, probably got 20 more years of life left, and you lose everything in a crash. I mean, is that possible from your point of view, or am I being too pessimistic?

[Bert Dohmen]

You know, I have been warning about exactly that since the beginning of the year. And I even talked about in the olden days, maybe they've changed the margin rule. But I remember the 87 crash. A lot of people that were on margin, they borrowed against the stock purchases. They lost their houses. We had dinner. Somebody came here to our town. We had lunch. I'm sorry. And he worked for a major Wall street firm. He was vp. And I said, told us how much she was traveling. I said, well, you travel so much. Said foreclosing houses. I said, foreclosing. I didn't know you were in real estate that we're not. But these are people that couldn't meet their merchant calls. So I don't know if that rule has changed if you can still lose your house because of a margin call. But I would look into it if I were the average speculative. Do you know right now the speculation has gotten so crazy. ETFs. The first they came out with double leverage, then they came out with triple leveraged ETFs. We just had them coming out with a five times leveraged ETFs. That means if the, the stocks in that ETF go down 20%, that ETF is done, it's broke, it has zero value. I mean, do people realize this? No, they don't realize this. I mean, I have met people because we do have consultation calls and they are short. For example, a triple leveraged etf. The ETF is short. So you buy the etf, triple leverage. I said, do you know how fast you can lose all your money with this? Even where you take some of the Bitcoin ETFs. It's incredible. Here the ETF, the MSTR strategy has been rising and rising. It was up, I don't know, something like at 10% for the year. But the ETF that is triple leverage for that was down 36%. So the people thought that we were going to make three times as much as the stock itself. No, they lost their shirt. That's what happens. People don't know how the math works.

[Robert Kiyosaki]

So you know, Bert, so we have a highly educated, uneducated baby boom generation. I think it's the largest generation. And we have Gen X, Gen Z. You know, I feel for those guys.

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Hello Robert Kiyosaki, the Rich Dad Radio Show. Anyway, we have a very important Shows are important, but this is especially important if you have a family member who's a boomer, baby boomer. And I forgot the years they were born between. But there's millions of them and especially so if they have a pension. And the reason this is important is when I was Getting out of the Marine Corps in 1974, they had a thing called ERISA, Employee Retirement Income Security Act. And anytime the government says our act is to protect your income, bend over and don't pick up the soap, you know what I mean? Because they're going to get you. So my generation in 1974 was the first generation without what they call defined benefit, pension. Definite benefit means you are guaranteed a pension no matter what. When ERISA kicked in in 74, it shifted to define contribution. And I remember coming out of the Marine Corps, you know, I was looking for a job in Hawaii. Station in Hawaii, my last station I flew out of. And I go to downtown Honolulu and every school teacher, I go to these meetings about the new, the new, what you call it, profession called financial planners. And so you too can be a financial planner going, oh, let me go check this out. So I go and I sit down these meetings for people who want to be financial planners, because the shift went from defined benefit to defined contribution. So your contribution would depend upon what this financial planner advised you. You know, 401k or IRAs in America, RRSP in Canada, superannuation in Japan, I think. And anyway, stuff like that. So everybody around the world, the boomers, the biggest generation in history is now at the point where those pensions are due. Very important subject because it's going to affect a lot of people. So as a friend of mine, Ted Siedel, he's a pension forensics expert, he wrote this book here, it's called who Stole My Pension? And so there's a lot of boomers my age who are going to wake up and said, huh, I don't have a passion, I'm now too old to work, and you're out of time. So that's one of the reasons I founded the Rich dad company is we have no financial education. And so people, I don't need a pension. You know, I invest for myself. I have a. We call a family office. I don't need a. I have advisors. But anyway, I was a pilot and most of my friends became pilots for the airlines. And they're all happy because they had job security, they had pensions, and guess what? Voila, their pensions disappeared. So here they are, they're now about 65 years old and they have no pension. And so that's why it's kind of personal to you. To my classmates, my fellow pilots, we flew in the Marine Corps, they were still working and then had no pensions. So that's why Ted Sudela and I co authored this book here, who Stole my pension. Because Ted is the number one forensics expert. He goes after the pensions and how they steal your wealth because they've been den of thieves. You know, most financial planners are nice people, but I wouldn't let them lead me to the toilet. I really have no respect for them because they're going to put me in stocks, bonds, mutual funds and ETFs and I don't do those things. You can do what you want. I don't give financial advice, but I'd rather handle my own pension, thank you. My own retirement. So I retired years ago without a pension and I did it with real estate and investments. So Ted, welcome to the program. It's been nice working with you all these years. But you know that old saying, cheer up, it could get worse. We all cheered up. And a lot of these guys in these pensions like CalPERS, California Pence, California personnel and all that stuff, they're smelling the coffee right now, right?

[Ted Seidel]

Yeah, they certainly are. And I've just been hired a few months ago to do a forensic investigation of CalPERS which is nearly $600 billion between CalPERS and Cal STIRS, which is the teacher, state teacher's pension, you're talking about a trillion dollars. And so if that money is being mismanaged, that's like you know, a global, a sovereign country. I mean it's a trillion dollars there in those pensions. So I was hired recently to do a forensic investigation of CalPERS on behalf of the State Retiree Association RPEA. And that's what I've been doing and it's for the last few months and it's been in NBC News and on in the Financial Times and all over the country. They've been even internationally writing about this investigation because CalPERS is the largest.

[Robert Kiyosaki]

So and you, you've also been one of the biggest reward for taking it to these pension crooks.

[Ted Seidel]

I mean, yeah, I won the largest SEC award whistleblower awards in history, nearly $100 million for investig the investigations I've done. So I got the, the largest award from the sec, then the largest award from the CFTC and then another one from the sec. So yeah, the, the federal government has confirmed my findings over the years and I've done over a trillion of these investigations. But anyhow, CalPERS is, is big news because they are the largest and pensions move in what we call a herd with a herd instinct. So when the leader jumps off a cliff, all the other lemmings jump off as well. So it's really important that the leader be Leading and not misleading.

[Robert Kiyosaki]

Yeah. So Kelp, what Ted is talking about is called the bellwether or the, you know, the cow with the bell on their neck. So whatever Calpers is doing, the rest of the herd is following close behind. And what you're saying is Calpers is in trouble?

[Ted Seidel]

Yeah, Calpers has been in trouble for the last 25 years. Up until about 2000, Robert Calpers was considered the quote unquote gold standard. You know, all the other pensions, look to them, they were the model for effective governance and transparency. All that started falling apart after 2000. One board member went to prison, another board member committed suicide before he was being sentenced. They've just been hit with scandal after scandal and they're now pretty much a poster child for poor governance. And they champion things like you're familiar with ESG or DEI, a lot of these progressive investment strategies. CalPERS was the, the originator of so and the herd followed the leader. Right. So it's pretty wild. Anything you can imagine.

[Robert Kiyosaki]

This is the book here. You know, if you're young enough, please read this book. If you're old, like over 50, you might be in serious trouble because explain why they were committing suicide with these guys who are the so called.

[Ted Seidel]

Leaders.

[Robert Kiyosaki]

Of these pensions, these teachers and things like that. There were on the take also they were getting a commission on both sides. The toast was buttered on both sides.

[Ted Seidel]

And well, the main problem, the main problem with public fund public pension plans like city, county, state public pension plans are, first of all, they are not governed by erisa. Erisa, the comprehensive federal law that you talked about earlier that provides important protections for participants. Well, when they created that law in 1974, they made a huge loophole. All state and local pensions are not subject to erisa.

[Robert Kiyosaki]

So could you explain how these leaders were stealing from the, you know, the people they trusted to run the pension? How were they stealing? What, what were some of the nefarious tricks they were up to?

[Ted Seidel]

Well, one of the things your viewers need to understand about public pension, state and local government pensions is their political animals. These funds, these investments, retirement funds are not being selected, managed based upon what's the best investment, based upon the best performance or merit. They're political.

[Robert Kiyosaki]

Hello, Robert Kiyosaki, the Rich dad radio show. Our friend is longtime friend, Doug Casey. You know, since you and I are now the senior citizens of this generation, how are you prepared for it? I mean, or what would you recommend a person prepare for it? You know, if you save the dollar, America is printing 2 trillion a year, like Zimbabwe was.

[Financial Expert/Analyst]

Yep.

[Robert Kiyosaki]

Why would you save the dollar?

[Doug Casey]

It's crazy to save the dollar.

[Robert Kiyosaki]

But.

[Doug Casey]

You have to save. It's important to produce more than you consume and save the difference. But what do you save it in? You can't save dollars. They're hot potatoes. It's an iou. Nothing on the part of a bankrupt government. So I've used gold and silver as savings vehicles forever. So I bought my first gold at around $40 an ounce and I've never sold an ounce, so I still have it all and lots of silver. I hate to advise people to buy gold now because before it was obviously depressed relative to everything else. Now it seems to me gold is more or less where it should be relative to cars, houses, clothes. I, I think it could go 10 to 1 from here for different reasons, but not because it's underpriced. But you have to save. The problem is, what do you save in now? It's a tougher situation than people have ever been in before, I think. I think silver is still relatively underpriced. It's going higher.

[Robert Kiyosaki]

Yeah. And then you know what Buffett's been saying, which is a concern that I have. He says the worst thing that's going to hit the boomer generation with their 401s is inflation.

[Doug Casey]

Yeah.

[Robert Kiyosaki]

No matter how much they have in their 401k, and we're. We're spending 2 trillion more than we pull in. They're probably.

[Doug Casey]

Well, that's right. I mean, you buy your average stock and Maybe it's yielding 2 or 3%, something like that, but the dollar is losing value at. You can't believe the government's figures. You can't believe the US government's figures any more than you can believe the Argentine government's figures. The dollar is losing value in real terms in between 5 and 10% per year. So what do you do? I know real estate has always treated you extremely well because it's a real asset, but is real estate getting overpriced too?

[Robert Kiyosaki]

Well, you can always find a bargain. You know what I mean? That's what I like about real estate. There's somebody always in the sell mode.

[Podcast Narrator]

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[Robert Kiyosaki]

Welcome to gift wrapping.

[Doug Casey]

Whoa.

[T-Mobile Announcer]

So is Saldana.

[T-Mobile Employee]

Hey, can you wrap these please?

[Doug Casey]

Wow.

[Robert Kiyosaki]

IPhone 17s.

[T-Mobile Employee]

You splurged at T Mobile. You can get four iPhone 17s on them. The new center stage front camera is amazing for group selfies. It's the perfect gift for everyone.

[Robert Kiyosaki]

I'm the worst. I only got my mom a robe.

[T-Mobile Employee]

Well, it's better than socks.

[Robert Kiyosaki]

So I have to trade in my old phone, right?

[T-Mobile Employee]

No @t mobile. There's no trade ins needed when you switch. Keep your old phone or give it as a gift.

[Robert Kiyosaki]

Incredible.

[T-Mobile Employee]

In fact, wrap up my old phone too for my Aunt Rosa.

[Doug Casey]

Forget that.

[T-Mobile Employee]

Aunt Liz will be jealous.

[Robert Kiyosaki]

Sounds like my family drama.

[T-Mobile Employee]

Oh, I got it. I'll give it to my abuela. I'll take reindeer paper with. Hey, where are you going?

[Robert Kiyosaki]

To T Mobile.

[T-Mobile Announcer]

The holidays are better. AT T Mobile get four iPhone 17s on us. No trade in needed when you switch plus four lines for just 25 bucks a line. And now T Mobile is available in US cellular stores with 24 monthly bill credits and 4 eligible Portinson Essentials for well qualified customers bought.

[Financial Expert/Analyst]

Okay.

[T-Mobile Announcer]

Plus taxes, fees and $35 device connection charge Credits end and balance due if you pay off early or cancel. Contact Us Finance Agreement 256 gigabytes. $830 required. Visit t mobile.com.

[Robert Kiyosaki]

Anyway, you wrote about the greater depression. We're of the generation now that's cruising into a bankrupt Social Security. Do you know how many. You know how many baby boomers are in the world, Doug?

[Doug Casey]

Let me see. In the US or in the world?

[Robert Kiyosaki]

The total world. The number 2 billion baby boomers. That means there's 2 billion people out of 8 billion coming off the. Coming off the work line. I'm going, what's that going to do?

[Doug Casey]

Well, do they have enough. Do they have enough savings to maintain them as their bodies Start falling apart.

[Robert Kiyosaki]

That's what I mean. What goes up are your medical bills.

[Doug Casey]

Yeah.

[Robert Kiyosaki]

At 6, they just skyrocket.

[Doug Casey]

On the bright side, maybe. Maybe Elon Musk is right. And in 10 years, robots will be able to do most of what needs doing in the way of physical labor. And it seems like AI is already doing people's thinking for them. But I'm not sure you can trust AI any more than you can trust Wikipedia, quite frankly.

[Robert Kiyosaki]

Yeah. The other thing I heard is that there's 200 million Americans out of 360 million. Almost 50%. 50% who are on some kind of government subsistence.

[Doug Casey]

I think that's true. And I wonder how many Americans are sleeping under bridges and on park benches because you go to major cities and you see them everywhere. The numbers got to be. I don't know, the numbers are unreliable. I mean, people want to report numbers for whatever political reasons they have. But there are hundreds of thousands Americans that have nothing. Not even a house, maybe not even a tent. So what's going to happen to those people? I mean, are we going to have to support them as their numbers double and triple and more?

[Robert Kiyosaki]

Thomas Jefferson warned us years ago, he says if a central bank takes over, people will wake up homeless in their own country. And now homelessness is exploding across America. And we have a Federal Reserve bank that everybody worships. And I'm going, are you kidding me? The Federal Reserve Bank's Marxists.

[Doug Casey]

Yes. And they expect that, including Trump. I've got to say, he thinks that if the Federal Reserve just reduces interest rates and prints more money, that everything will be fine. Everything will boom. So he looks at the immediate and direct consequences of printing a lot of money up. Hey, I feel rich. I can go out and buy stuff. But he's looking at the. He does not look at the delayed and indirect consequences. The currency becomes nothing. People's savings are destroyed. The bond market will be destroyed.

[Podcast Narrator]

This podcast is a presentation of Rich Dad Media Network.

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