The Fed Is Destroying Your Wealth

Summary

Rich Dad Radio Show: "The Fed Is Destroying Your Wealth" – Detailed Summary

Release Date: April 16, 2025

In the episode titled "The Fed Is Destroying Your Wealth," Robert Kiyosaki engages in a profound discussion with financial expert Nomi Prins. The conversation delves deep into the mechanics and consequences of central banking, money fabrication, and their broader impact on wealth distribution and financial security. This summary captures the essence of their dialogue, highlighting key insights, critical analyses, and actionable advice for listeners.

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1. Introduction and Guest Introduction (00:01 – 03:10)

Robert Kiyosaki opens the episode by emphasizing the importance of financial education and the role of a coach in accelerating financial success. Drawing parallels with professionals like Tiger Woods who rely on coaches, Kiyosaki underscores that hiring a coach is essential for transformative financial growth.

Key Quote:

"You'll be given an opportunity to step it up. You know, you can listen to all the data in the world, but if you don't do something different, you don't hire a coach, then you're wasting your time and my time for just bringing this program to you."
— Robert Kiyosaki [00:09]

He introduces Nomi Prins, praising her extensive experience beyond academic theories. Prins' hands-on work with Wall Street, her travels to central banks globally, and her practical insights make her a valuable guest for discussing the Federal Reserve's impact on wealth.

Key Quote:

"She's actually taken action more than most academics do, and she knows what she's talking about."
— Robert Kiyosaki [02:50]

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2. The Power of Central Banks and Money Fabrication (03:10 – 07:04)

Nomi Prins elaborates on her extensive interaction with central banks worldwide, emphasizing their growing power and the implications of their actions on global economies. She highlights the staggering amount of money fabricated by major central banks since the financial crisis and the pandemic.

Key Points:

• Central banks like the Federal Reserve, People's Bank of China, European Central Bank, and Bank of Japan have collectively fabricated approximately $41 trillion.
• This money creation lacks a direct connection to actual economic value or investment, leading to significant inflationary pressures.
• The Fed’s ability to create money "out of nothing" leads to the devaluation of currency and distorts the relationship between financial assets and physical assets.

Key Quote:

"Every time you fabricate money, the more that happens, the more devalued money actually is."
— Nomi Prins [06:00]

Robert Kiyosaki reinforces these points by explaining how the creation of money without tangible backing differentiates the Fed's actions from traditional money-making methods like investing in real estate.

Key Quote:

"The Fed doesn't do that. They just produce the money."
— Robert Kiyosaki [07:04]

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3. Impact on Wealth Distribution and Social Classes (07:04 – 16:14)

The conversation shifts to the societal implications of central banks' policies. Prins and Kiyosaki discuss how money fabrication exacerbates economic disparities, making the rich richer while the middle and lower classes struggle.

Key Points:

• Inflation disproportionately affects the working class, increasing living costs without corresponding income growth.
• Central banks' policies lead to asset inflation, making essential goods like fuel and real estate more expensive.
• There is a growing divide between financial assets (stocks, bonds) and physical assets (real estate, metals), undermining economic stability for ordinary people.

Key Quote:

"The game is rigged against the middle class and the poor."
— Robert Kiyosaki [09:00]

Prins emphasizes the lack of accountability within central banks, citing instances of Federal Reserve officials resigning due to questionable stock trades, which underscores systemic issues within these institutions.

Key Quote:

"There are no limitations put upon the Fed, and as such, they are a criminal organization because they're not involved in the creation of anything real."
— Nomi Prins [08:09]

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4. Real Assets as a Shield Against Inflation (16:14 – 20:43)

Both experts advocate for investing in real assets as a means to safeguard wealth against the devaluation of money. Prins shares her personal investment strategy, highlighting real estate's central role in her portfolio.

Key Points:

• Real estate provides tangible security, offering passive income and potential for wealth accumulation.
• Investing in metals like gold and silver is recommended as a hedge against currency devaluation.
• Shared ownership models, such as collective apartment shares in high-inflation countries like the UK, are emerging as viable entry points for young investors.

Key Quote:

"Investing in real estate makes a lot of sense. Investing in a place you can live in, rent out, or accumulate something physical is tremendously important."
— Nomi Prins [15:25]

Kiyosaki underscores the importance of moving away from "fake money" by transitioning savings into gold and silver, promoting services that facilitate this shift.

Key Quote:

"They don't save fake dollars, they save real money."
— Robert Kiyosaki [12:04]

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5. The Importance of Financial Education and Coaching (20:43 – 26:31)

Kiyosaki returns to his initial premise about the value of financial education and coaching. He stresses that real-world experience, as demonstrated by Prins, is more beneficial than purely academic knowledge.

Key Points:

• Hiring a coach leverages someone else's experience, accelerating one's financial success.
• Prins exemplifies a "woman of action," having practical experience in real estate and financial markets, making her insights particularly valuable.
• Financial education empowers individuals to navigate and mitigate the adverse effects of central banks' policies.

Key Quote:

"Whatever the outlay is, because it's only going to come back in spades because you're going to get the benefit of someone else's experience and someone else's knowledge and someone else's work and you're able to leverage that."
— Nomi Prins [22:32]

Kiyosaki emphasizes that relying solely on data without actionable strategies leads to stagnation, advocating for proactive measures like hiring a coach to implement effective financial strategies.

Key Quote:

"I'm just shocked. So the point here is this. The reason I want to talk to people is it's not that I recommend real estate."
— Robert Kiyosaki [15:07]

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6. Predictions and Concerns for the Future (26:03 – 26:31)

As the episode nears its conclusion, Kiyosaki and Prins discuss potential future scenarios resulting from continued central banks' policies.

Key Points:

• A looming stock market crash could severely impact retirement funds like 401(k)s, particularly affecting baby boomers.
• The wealth gap is expected to widen, with the poor facing increased hardships while the rich continue to accumulate wealth through strategic asset investments.
• The unchecked power of central banks poses a significant threat to economic stability and equality.

Key Quote:

"If there's a stock market crash with the 401k, which was started in 1974, we're going to have millions of American or global milk baby boomers toast."
— Robert Kiyosaki [26:03]

Prins concurs, emphasizing the perpetual nature of central banks' ability to distort economies without any form of opposing checks, leading to ongoing inequality.

Key Quote:

"There is no opposing power and we are literally. I mean, there just isn't."
— Nomi Prins [23:14]

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7. Conclusion and Final Remarks (26:31 – 26:52)

Kiyosaki wraps up the episode by reiterating the critical need for financial education and proactive investment in real assets. He contrasts his family's academic achievements with their lack of financial security, urging listeners not to fall into the same trap.

Key Quote:

"Please don't be like my family. Please don't be like me. Because they have master's degrees and they have real estate licenses. They're like my poor dad, highly educated poor people."
— Robert Kiyosaki [26:31]

Prins and Kiyosaki exchange final acknowledgments, highlighting the episode's theme of preparedness and strategic action in the face of economic uncertainties.

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Key Takeaways:

• Central Banks' Influence: The Federal Reserve and other major central banks have significant power to create money, leading to inflation and devaluation of currency without corresponding economic growth.

• Wealth Disparity: Current monetary policies favor the wealthy, allowing them to accumulate more wealth through real assets while the middle and lower classes struggle with rising living costs and stagnant incomes.

• Real Assets as Protection: Investing in tangible assets like real estate, gold, and silver is crucial for safeguarding personal wealth against inflation and economic instability.

• Financial Education and Coaching: Proactive financial education and mentorship are essential for navigating complex economic landscapes and achieving financial independence.

• Future Economic Concerns: Without corrective measures, the gap between the rich and the poor is expected to widen, potentially leading to significant economic turmoil and social unrest.

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Notable Quotes with Timestamps:

• "You'll be given an opportunity to step it up... if you don't hire a coach, then you're wasting your time."
  — Robert Kiyosaki [00:09]

• "Every time you fabricate money, the more that happens, the more devalued money actually is."
  — Nomi Prins [06:00]

• "The game is rigged against the middle class and the poor."
  — Robert Kiyosaki [09:00]

• "Investing in real estate makes a lot of sense... it's tremendously important."
  — Nomi Prins [15:25]

• "They don't save fake dollars, they save real money."
  — Robert Kiyosaki [12:04]

• "There are no limitations put upon the Fed, and as such, they are a criminal organization..."
  — Nomi Prins [08:09]

• "If there's a stock market crash with the 401k... boomers are going to be toast."
  — Robert Kiyosaki [26:03]

• "Please don't be like my family... because they have master's degrees and they have real estate licenses... they're like my poor dad, highly educated poor people."
  — Robert Kiyosaki [26:31]

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This episode serves as a compelling analysis of the current financial system's vulnerabilities and offers strategic insights for individuals seeking to protect and grow their wealth in an increasingly unstable economic environment.

Transcript

[Robert Kiyosaki]

This is the Rich dad radio show. The good news and bad news about money. Here's Robert Kiyosaki.

Hello, it's Robert Kiyosaki. A very important program to you. For you today, it's about how you can, should I say, accelerate your financial education. And I'll say this up front, is my Rich dad was my coach. I mean, he talked to me constantly. He coached me from the time I was about nine years old until I was in my 30s. And so all professionals have coaches. Amateurs don't. Like even Tiger woods, greatest golfer on earth and a coach. And amateurs don't because they think they can save money. So that's my way of saying, you'll be given an opportunity to step it up. You know, you can listen to all the data in the world, but if you don't do something different, you don't hire a coach, then you're wasting your time and my time for just bringing this program to you. So if you're going to sit here and just have, oh, an entertaining time, you know, like my family, oh, this is so entertaining, you know, oh, I got so much data. But you don't do anything different. And you're wasting my time and your time, and you're probably going to get smashed in the next few years. So we have a very special guest today, a dear friend of mine. I got through school sitting next to the smartest girl in the class, and her name was Sylvia, and I was next to Sylvia. And every time they needed an answer, I leaned over and I asked Sylvia in school, that's called cheating in capitalism. That's called cooperation. So I've always cooperative. And I'm always honored to have Nomi Prince here because she understands this is a woman of action. She has done it. She is not sitting there in a classroom at MIT or Harvard studying academic or finance theory. She's actually worked on Wall Street. She's traveled the world. She's checked out the banks, the central banks of the world. She knows what she's talking about. I read her book, and it blew me away. I was sitting up in Africa, I mean, in Alaska, reading her book, going, oh, my God. But she knows what goes on behind the scenes of that fake guy, Powell and Bernanke, all these central bankers. And you listen to CNBC and Fox News and all this, oh, don't fight the Fed. Well, you should fight the Fed because they're ripping you off. So I'm very happy to have Nomi here because she actually takes action more than most academics do, and she knows what she's talking about. So we're going to have a great discussion today on why the Fed is one of the biggest criminal organizations going. It is criminal what they're doing. So with that, I'm very honored to have a dear friend of mine, one of the smartest people I know, Naomi Prince. So welcome to the program. Nomi, could you tell us what you found out, why you traveled the world to see the central banks? Visit the central banks.

[Nomi Prins]

So, Robert, again, it's always great to talk to you. I always appreciate the opportunity. I learn as much as you say you learn. So that's awesome. And the fact that we can share it with all of the people that need this information is really important. And when you talk about you having the best year, but you can still balance that with understanding that there are poor people out there that can do better and that you're basically opening your arms to them, I think that's a really special, important thing that you do and have been doing for so many years. So thank you for. For sharing your time with us.

[Robert Kiyosaki]

Inflation makes life harder.

[Nomi Prins]

That's right.

[Robert Kiyosaki]

The working class.

[Nomi Prins]

That's right. So the reason I travel, and it's actually a part of traveling to central banks, is also traveling to countries and seeing how people are actually living and how they're impacted by things like price inflation for numbers of years. I mean, I started talking to central banks in the 90s. I didn't just start when everybody started paying attention. I've been doing this for decades. And what I've discovered as things have evolved is the power of central banks around the world, whether that's the People's bank of China, the bank of Japan, the European Central bank, and of course, the Federal Reserve has only increased talk about inflation. Their power inflation has gone off the charts, particularly since the pandemic. Now, it was already very high since the financial crisis. What the Fed can do is create money out of nothing. Now, people say that's electronic, that's printing money. They're not printing, they are fabricating, they are manufacturing money that has no connection to actual worth, to actual value, and certainly to the actual economy. And the reason they are able to do this one, because Wall street and basically Washington created the Federal Reserve act of 1913 to enable them to have that power to help Wall street and Washington to look good, because Wall street has helped when it needs it, but also because there was never been, never been a limitation to how much fabrication of money the Fed can do. And every time you fabricate money, I can't you can't. We make money, right? That's different than fabricating it out of nothing. You know, you're investing in real estate, it has a return, you bank it, you move on. That's. That's doing something actual. The Fed doesn't do that. Right? The Fed creates it from nowhere. And the problem with that is the more that money is pushed into the system without an actual source, without having done anything to get there, right? The more that happens, the more devalued money actually is. And so what happens is we have all of, I call them distortions between financial assets, paper assets and physical assets. You know, whether they be what people actually have to put in their tanks. Like you're talking about the high price of fuel, whether it is gold, whether it's copper, whether it is real estate. These are physical assets. And they are basically hampered by what the Fed is doing, by blowing up money. And it's not just the Fed. This is something that's happened throughout the world since the financial crisis and then the compounded effect of the pandemic. There is $31 trillion of fabricated money, money attached to no economy, to no investment, fabricated money. Just with the four main central banks of the world, the Federal Reserve, People's bank of China, European Central bank, bank of Japan, just 4. If you add all the other ones in there, who will follow the Fed, who wanna basically do what the Fed is doing to basically a favor, incur favor, on that basis, it's $41 trillion of just fabricated money that inflates the value of money. We've inflated the prices of real assets. And that's where this distortion has gotten just so out of control, right?

[Robert Kiyosaki]

What Nomi's talking about here, if I produce this marker here, I'm producing a product and I sell it. That's money. But they don't even have to produce this. They just produce the money, right? And again, it's. What Naomi's talking about is 1913 was the federal Reserve act, but it was also the start of the irs, right? Because the dollar and taxes go hand in hand. And so that's why I say the rich get richer, the middle class pays more taxes, and the poor starve because food is a tangible asset and I have more than enough money. But I'm in shock. I was at Safeway last night going, how do people afford this stuff? You know? You know, so that's why, you know, I love and trust Nomi because she understands how the Federal bank central banks operate. And central banks, I mean, isn't Central banking, more Marxist than capitalist, Naomi.

[Nomi Prins]

I mean, yeah, central banking, and particularly with the Fed at the leadership of that, of that hierarchy of all the central banks in the world is again, not working. And it's also not investing. So it's doing really nothing to produce the money it has produced. Again, I mentioned it was fabricating it, and as a result, it distorts everybody's relationship to the economy. It is what increases anger amongst poor people and amongst the middle class because their money isn't going far enough to basically pay for the inflated prices of the things they need in their lives to move forward or just to even stay in place. And that increases the angering. And you see this throughout the world. It's not just even in the United States, but it emanates, it does emanate from the Federal Reserve because other central banks really do take their cues now. I mean, they're not necessarily supposed to, but in these last few years in particular, and since the financial crisis, this explosion of money creation has been really headed by the Fed with no limitations. You talk about, Robert, that there are limitations put upon people in terms of how they can potentially behave or what they can do or whatever that is. There are no limitations put upon the Fed, and as such, they are a criminal organization because they're not involved in the creation of anything real. And as a result, it hurts people who are in the actual real world. And this is something that I don't see changing because there's no be back. You know Federal Reserve Chairman Jerome Powell, right. Apparently, his wealth has gone from $25 million to $60 million in just the last two years. Now you sit back and you're like, okay, fine, Powell, awesome. Great for you. But how did he do that? Well, basically, he's at the head of the organization that can actually create its own wealth out of nowhere. So when the Federal Reserve has a policy of creating money, it basically gets inhaled by Wall street, it gets borrowed against, debt accumulates, the financial markets do rise. But it's all basically predicated on this paper creation. And then Powell is in this position where he can create the money that allows him to become rich without actually doing anything but creating the money. It's this complete circle whereby Powell gets rich and he's invested in the same companies that he's basically providing free money to. I mean, it's a brilliant gig. I mean, if you think about it, I'm sure you work way harder, Robert, to make your money than Powell is doing right now by just putting some policy in place that he has 100% power to be able to do well.

[Robert Kiyosaki]

I do it legally. And now there's a difference. Because weren't some of those Fed guys caught for insider trading?

[Nomi Prins]

Well, and that's the thing. Yes, yes, a number. I'm glad you brought that up, Robert. A number of Fed officials throughout the different Federal Reserves. There's 12 different sort of pieces of the whole Federal Reserve System in different states. There's a New York one, there's an Atlanta one, so forth. They resigned for personal reasons because it turned out that they had some questionable stock trades. Now Powell, who runs the Federal Reserve, got reappointed to another term. So there is even in the Federal Reserve System, the people who aren't necessarily at the very top are the ones who sort of may a culpa, resigned for personal reasons because of what they were doing in stock trading. And you know, Robert, this is something that goes throughout Congress.

[Robert Kiyosaki]

Are you getting richer or poorer? Because right now the rich are getting richer while everyone else falls behind. Why? Fake money? The government prints trillions of dollars inflating your savings while the rich move their wealth into gold and silver. Gold is surging. Silver is skyrocketing. The smart money isn't waiting. They're getting out of dollars before the next crash. And here's what most people people don't know. You can legally move your IRA or 401k into Gold and Silver 100 tax and penalty free with my friends at Priority Gold. This is how the rich shield themselves. They don't save fake dollars, they save real money. So don't wait. Get Priority Gold's free wealth Defense guide now and see how to move your savings into something real. Tax Gold to 24999 or go to prioritygold.com right now. Text Gold 24999 or visit prioritygold.com and get your free no obligation Wealth Defense Guide. Because waiting makes you poor. Taking action makes you rich.

[Rich Dad Media Network]

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[Robert Kiyosaki]

And that's what's happening to America. So that's why I have tremendous respect for Noemi, because she doesn't talk about it. She worked on Wall Street. She traveled the world. She knows how they play the game. And the game is rigged against the middle class and the poor. And the middle class is soft. I've never seen so many soft people in all my life. You know, I mean, I've never seen students who complain if I say something that triggers them. I'm just. I'm shocked. So the point here is this. The reason I want to talk to people is it's not that I recommend real estate.

[Nomi Prins]

So investing in real estate makes a lot of sense. Investing in. In real, right. In a place you can, obviously you can live in, you can rent out if you need to, you can, you know, sort of accumulate something physical is tremendously important. I mean, it's more than half of my portfolio, probably 60, 70% of my assets are in real estate. And I think this is something where even if people can get a tiny foothold in. And I don't know what you think of this, but in the uk, for example, because things are so inflated and so high and young people can't afford to buy any, they're actually pulling together like shares in apartments just to get their foot on the ladder. And I think that them just even getting in, if they can't afford an entire apartment to get into the real estate ladder, you don't want to be living on the streets. I mean, look, at the end of the day, even if it's small, even if it's shared, getting in there means that at least you'll have a home you own over your own head. Or you'll expand and have two homes and rent one out, or you'll expand and have 20 homes and rent 19 out. Whatever it is that you have a.

[Robert Kiyosaki]

Path for those of you. This is my concern. No, me. If the stock market comes down and you guys are all young, it wipes out the old guys, the baby boomers, because the stock market was only the game after 1974, when the 401k was invented. So we have 60 million, I mean, baby boomers in America and throughout the world, because you see the world, if they raise their prices, all these RRSPs in Canada, superannuations in Australia, and 401ks and IRAs in America, they get toasted. And the way I see it, because I'm a pessimist, I'm a marine pilot. The way I see it, my generation of boomers, they had the easiest of all generations. When Nixon took the dollar off the gold standard, there was inflation in 71. The baby boomers got rich really easily. The stock market crashes. My generation, the boomers, they're homeless. They're going to move in with their kids. That's why I love having you on the program, because you have taken action. You have traveled the world. You're not an academic who sits in a classroom.

[Nomi Prins]

I've been to those favelas you talk about, Robert. In fact, during COVID I was out in Brazil really getting a sense for was going on. I, I, you know, I mean, I, I probably traveled more during COVID than most other people. I was in Columbia looking at District 13. I mean, there was all sorts of things. But, but to get that sense for what you're talking about, that gap and how, how, how can people close that gap right for themselves? And, and that's through education, and that's through action. It's really just that simple. And, and, and, and now, you know.

[Robert Kiyosaki]

Not now. Yeah, don't wait, because I think you know it and I know it, and inflation makes me richer, thank God. It makes the middle class pay more taxes because they're the ones who pay the taxes. But the thing I'm concerned about is the gap between the poor and everybody else increases. But you better take education. And what's going to happen is if the stock market will crash and many of the fat and dumb baby boomers of my generation will become poor. And that's the. I hate to say it, I hate to be pessimistic, but I'd rather be prepared. Like, if I tell you of a tornado coming, you say, oh, he's just being a pessimist. If the tornado's coming, you want to.

[Nomi Prins]

You want to prepare. Absolutely, I agree with that. And basically utilize that money for real assets, real estate, investing in things like copper that build and just different kinds of physical assets or physical metals or physical, tangible items that people can use. No matter what else you do. No matter what else you decide to do is really at the core in our world, and particularly where we're at today, of what's going to make you secure, you know, financially. And so I look at it like there's a lot of issues out there, right? We could sit here and talk about any side of any issue forever. But what I like to do is get pragmatic. And what I like to do is explain to people how money's working, who's making it work for them, and how you can make it work for you. It's very, very simple. You know, my experience digging into that and knowing about it and having experienced it from Wall street to talking with everybody in Washington to being around the world, to central banks, all of that is what allows me to dig into and explain that for people. But at the end of the day, to me, being pragmatic about money is what makes and can make people more secure and learning and learning how to use money. And I get. When people don't have money, the last thing you want to do, you don't have the patience, right, to learn about money sometimes because you're worried, you have real worries. You have food. Food prices are at all time highs, right? I mean, you're concerned. And that is legitimate. And so last thing you want to do is sit there and spend time making yourself read things or think about things that you can't eat, right? But it's so important. You basically have to step out of that mentality and understand money. Learn about money, learn about investments, learn about real estate and help yourself.

[Robert Kiyosaki]

The reason I started this whole program saying that this is not an educational program. I am speaking today, I want you guys to hire a coach so you have a better chance of success. And my family, oh, my God. Oh, my God. You know, I have friends, you know, outside my family, I know more than you because I have a real estate license. I said, how much real estate do you own? None. But I have a license. I'm a professional. I said, well, how much real estate do you own? None. But they're giving advice. So please hear me. The reason I pitch coaching and all that is my rich dad was my coach. He slapped my head until I was 35 years old. You know, I may have slapped my. Not really slapped me, but said, hey, wake up, wake up. Did you check this out? Did you check that out? Did you do this? Did you do that? So you're only as good as your teacher. So spend some money, hire a great coach, and you'll have a better chance of success. And the Reason I love and respect Nomi so much is she is a woman of action. She's not just a teacher standing from a classroom.

[Nomi Prins]

The idea of having a coach just. And having one is. So is money so well spent because you're basically leveraging off of someone else's experience. You're going to be able to take action. Like someone else has been in the war zone. Right. They've gone through the ups and downs of buying and selling real estate. You know, they're there to. Basically it goes. I use the word pragmatic before. It's like, would you rather, you know, have someone who just has a license and doesn't buy and sell their own real estate, you know, tell you things, or would you rather have someone who's bought and sold their own real estate? I mean, it's obvious, right?

[Robert Kiyosaki]

Yeah.

[Nomi Prins]

And so, so that idea of having that expertise in a coach makes so much sense, whatever the outlay is, because it's only going to come back in spades because you're going to get the benefit of someone else's experience and someone else's knowledge and someone else's work and you're able to leverage that.

[Robert Kiyosaki]

I have great cultures. Right, right. Coaches. And that's why the rich get richer. I don't pretend to know anything. Anyway, tremendous love and respect for you. Keep up the good work.

[Nomi Prins]

Thank you.

[Robert Kiyosaki]

We're in a date. My question is, how much longer can they keep playing this silly game? How much longer can the central banks keep practicing communism and nobody calls them on them?

[Nomi Prins]

That's a fantastic question. It's like in physics, a power can only stop if it's met by an opposing power or energy source or whatever that is. In central banking, there is no opposing power and we are literally. I mean, there just isn't. If you can basically create double the amount of money you had by doing nothing and there is no opposing power, they can keep this going. This is why it's so scary. They can continue to distort and they continue to create more inequality and say they're doing it for the benefit of the real economy and for people and they can keep going when they need to do that.

[Robert Kiyosaki]

Right?

[Nomi Prins]

That's. That's where we're at. I mean, I, I wish I could say there's. There's going to be some end to, to that ability to. That ability to distort the real economy from the markets, but I. There isn't. There simply isn't.

[Robert Kiyosaki]

Right now, are you getting richer or poorer? Because right now the rich are getting richer while everyone else falls behind. Why fake money? The government prints trillions of dollars inflating your savings while the rich move their wealth into gold and silver. Gold is surging. Silver is skyrocketing. The smart money isn't waiting. They're getting out of dollars before the next crash. And here's what most people don't know. You can legally move your IRA or 401k into gold and silver, 100% tax and penalty free. With my friends at Priority Gold, this is how the rich shield themselves. They don't save fake dollars, they save real money. So don't wait. Get Priority Gold's free wealth defense guide now and see how to move your savings into something real. Text Gold to 24999 or go to prioritygold.com right now. Text Gold 24999 or visit prioritygold.com and get your free no obligations welcome self defense guy. Because waiting makes you poor. Taking action makes you rich.

A central communism is a command and control. It's basically a dictatorship of the economy.

[Nomi Prins]

It is. And with a central bank, you're dictating the creation of money.

[Robert Kiyosaki]

Correct.

[Nomi Prins]

And in a government, you know, you might be dictating other, other things, the military, etc. But with central it's very specific and that's why it's so powerful. Scary. What they can do without being elected, without having to basically show any form of transparency, without any limitation, is just to create money and not care and not have to be accountable for what happens to most of the people on this planet when they do that.

[Robert Kiyosaki]

And if there's a stock market crash with the 401k, which was started in 1974, we're going to have millions of American or global milk baby boomers toast. They're going to move in with their kids or the kids will move in with them.

[Nomi Prins]

No, I think that's our theme for today. Robert. Now.

[Robert Kiyosaki]

It is.

[Nomi Prins]

It really is. It really is.

[Robert Kiyosaki]

And you know, I really thank you for doing what you do.

[Nomi Prins]

Thank you.

[Robert Kiyosaki]

Please don't be like my family. Please don't be like me. Because they have master's degrees and they have real estate licenses. They're like my poor dad, highly educated poor people. Don't be watered. Thank you all very much.

[Rich Dad Media Network]

This podcast is a presentation of Rich Dad Media Network.