The System Is Collapsing — And Most People Don’t See It

Summary

Podcast Summary: Rich Dad Radio Show

Episode: "The System Is Collapsing — And Most People Don’t See It"

Host: Robert Kiyosaki
Date: October 8, 2025

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Episode Overview

In this thought-provoking solocast, Robert Kiyosaki, famed author of "Rich Dad Poor Dad," addresses what he sees as the looming collapse of the global economic system. Drawing from his latest book "Fake: Fake Money, Fake Teachers, Fake Assets," Kiyosaki unpacks how money creation, a broken education system, and Wall Street manipulation have set the stage for an unprecedented economic bubble. He argues that most people are unprepared for the coming crash—and offers his own framework for understanding and surviving "bubble-nomics."

The episode is a wake-up call to listeners, urging critical thinking about how wealth is created and preserved, and challenging the conventional wisdom taught in schools and promoted by mainstream financial experts.

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Key Discussion Points and Insights

1. The Genesis of "Fake" and Roots of Economic Manipulation

[01:26 – 04:00]

• Kiyosaki introduces his book "Fake," motivated by R. Buckminster Fuller's "Grunch of Giants," which stands for "Gross Universal Cash Heist."
• Claims the ultra-wealthy designed and maintain a global system that "rips people off" through fake money, teachers, and assets.
• Discusses the widening wealth gap and the purpose of education as a tool designed by the rich to produce compliant employees, not financially literate citizens.

“What’s really going on in the world today is the gap between the rich and everybody else is getting wider and wider... the middle class isn't shrinking—they're getting poorer.”
— Robert Kiyosaki [03:15]

2. How Fake Money Is Created and Why Debt Is Central

[04:01 – 09:00]

• Money is no longer backed by gold (since 1971), meaning all money is now created as debt.
• The global financial system relies on ever-increasing debt to function—if everyone got out of debt, the system would collapse.
• Real financial education should teach about debt and taxes, but it is missing from schools by intentional design.

“If we got out of debt, the world economy would collapse because without debt, money doesn’t exist.”
— Robert Kiyosaki [06:10]

3. The Scam of Traditional Investment Advice & Wall Street’s Role

[09:01 – 13:40]

• Schools and Wall Street teach average people to funnel money into stocks, bonds, mutual funds, and savings—assets managed and profited on by the "giants."
• Pensions for teachers, firefighters, and police are a primary asset pool for Wall Street but are deeply underfunded and mismanaged.
• Financial advisors, planners, and brokers are labeled as “fake teachers” giving bad advice.

“The reason they’re called brokers… is because they’re broker than you.”—Robert Kiyosaki [11:35]

4. Bubble-nomics Explained: How the System Has Become a Massive Bubble

[13:41 – 19:50]

• Through repeated financial crises (dotcom bust 2000, subprime crash 2008), governments have only responded by printing more money and fueling bubbles.
• The current system is described as "Bubble-nomics," not real economics.
• Once retirees realize their pensions are worthless and students face insurmountable debt, the system risks either hyperinflation or depression.

“This is called bubblenomics, not economics… How much longer can they keep blowing this up with fake money?”
— Robert Kiyosaki [15:04 & 46:02]

5. Who the System Really Serves: A Closer Look at Debt, Banking, and the Rich

[19:50 – 24:40]

• Explains, step-by-step, how money is created: U.S. Treasury issues bonds, sold to the Federal Reserve, which then gives the money to banks.
• Banks channel money to the rich via loans for assets, not to the poor or middle class.
• The rich borrow and buy assets; the rest are sold credit cards and bad loans.

“The way money is created after 1971… the banks give [money] to the rich. That’s why the poor and middle class get taken out.”
— Robert Kiyosaki [20:25]

6. Taxation: Why the Rich Don’t Pay Taxes (Legally)

[34:52 – 38:30]

• Breaks down the three kinds of income: earned (highest taxed), portfolio (lower taxed), and passive/cash flow (can be taxed at zero).
• The rich leverage debt and passive income via business and real estate to legally avoid taxes.
• Critiques calls to “tax the rich” as ignorant of how the system truly operates.

“As you know, the rich don’t pay taxes. I just hate to tell you that right now.”
— Robert Kiyosaki [36:23]

7. The Trap of Retirement Funds and Student Loans

[38:31 – 43:00]

• Explains how 401(k)s, IRAs, and other retirement plans mainly enrich Wall Street, and are at risk of collapse.
• Shift from "defined benefit" pensions to "defined contribution" plans transferred all risk to workers.
• Student loans became a government-administered asset in 2009, ballooning to $1.6 trillion; recent graduates are “screwed” by debt they’ll never amortize.

“If you knew what was really going on, you wouldn’t send your kids to school…”
— Robert Kiyosaki [41:20]

8. Economic Collapse: Historical Parallels & Policy Debates

[24:41 – 32:34 & 43:01 – 46:14]

• Debates modern monetary theory (MMT), “universal basic income,” and “tax the rich” as forms of fake solutions.
• References historical events (Weimar Germany, Great Depression, rise of Hitler and FDR) as warnings for today’s path.
• Argues both left- and right-wing policies are broken, and only self-education can save people from collapse.

“History is not going to repeat, but it will rhyme…”
— Robert Kiyosaki [31:05]

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Notable Quotes & Memorable Moments

• On education:

  “Why doesn’t our school teach us about money? …It’s not an accident.”
  — Robert Kiyosaki [05:33]

• On Wall Street and pensions:

  “Pensions are the biggest asset pool for Wall Street. So this is a system of fake.”
  — Robert Kiyosaki [09:46]

• On asset bubbles:

  “They’re being set up for the next crash… So let me say it again — my book Fake is about fake money, fake teachers, fake assets. They’re all the same thing.”
  — Robert Kiyosaki [13:00]

• On practical financial advice:

  “In Fake I cover a thing called the Infinite Return, where if you have the right financial education, you don’t need money to make money.”
  — Robert Kiyosaki [23:40]

• On government and hope:

  “To hope that Donald Trump will save you or the Democrats will save you… is really silly. I suggest this: read the book Fake and save yourself.”
  — Robert Kiyosaki [28:30]

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Timestamps of Important Segments

• [01:26] — Introduction to "Fake" and origin from Grunch of Giants
• [06:10] — Explanation of money as debt, and why escaping debt collapses the system
• [11:35] — Calling out “fake teachers” and the Wall Street system
• [15:05] — "Bubblenomics" and the endless cycle of monetary expansion
• [20:25] — Step-by-step: How money is created and funneled to the wealthy
• [34:52] — Why balancing checkbooks and FICO scores is “fake education”
• [36:23] — Detailed breakdown of why the rich pay no taxes
• [41:20] — Critique of the education system’s role in perpetuating financial ignorance
• [43:01] — Student loans as government profit center and societal debt trap
• [46:02] — Concluding warning: The end is near, act to prepare for collapse

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Tone and Language

Kiyosaki’s delivery is frank, provocative, and sprinkled with humor and sarcasm. He repeatedly challenges mainstream narratives, uses memorable catchphrases like "Bubble-nomics" and "fake teachers," and tells cautionary tales, all while providing direct financial education à la Rich Dad style. The overall message is urgent: Think differently, question the system, and get educated—or risk being a victim of the next economic catastrophe.

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In Summary

Robert Kiyosaki’s episode is a direct call for financial awakening. He argues the global system—rooted in fake money, false teaching, and asset bubbles—is unsustainable, and the collapse has already begun. Instead of relying on schools, mainstream media, or government, individuals must seek real financial education and adopt alternative wealth strategies to survive and thrive as the economic system unravels.

Transcript

[Podcast Host / Narrator]

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This is the Rich Dad Radio Show. The good news and bad news about money.

[Robert Kiyosaki]

Here's Robert Kiyosaki. Hello, this is Robert Kiyosaki and I'm probably best known for the book Rich Dad, Poor Dad. But I'm here to talk to you about my book. The book is called Fake Fake Money, Fake Teachers, Fake Assets. And it's interesting, 22 years ago, Rich Dad, Poor dad came out on my birthday, April 8, 1997. So this is the advanced version of Rich Dad, Poor Dad. But it's really the real reason I wrote Rich Dad, Poor dad and give a little genesis of how this book came years and years ago, back in the 80s, 1983 to be specific. I'm a student for A man named Dr. R. Buckminster Fuller who was best known for the creation of the Geodesic Dome. This geodesic dome was the US pavilion at the World's Fair and Expo 67 in Montreal, Canada. So in 1967 I was a 19 year old kid and I hitchhiked from New York City up to Montreal to see Bucky Fuller's Expo, the dome, the US Pavilion. It was the most amazing thing. And then I met FULLER finally in 1981, 82, and 83. And in 1983, Bucky Fuller passed away on July 1, 1983. But he left behind this book called Grunch of Giants. And what GRUNT stands for is Gross Universal Cash Heist. It's how the ultra rich rip us off of our money. And so because of Grunch of Giants, this book here, I gave up my job, I gave up my company, and I wanted to find out how Grunch ripped people off. So this here is the book that all my years of study have come up with. Fake. And I'll just give you a little summary of it and hopefully you'll read more detail inside Fake here. But the way the rich, ultra rich, the uber rich, rip us off is via our money, our teachers, and our assets. So that's what fake's about. And we all know today most news is fake. In this book, I start with here in social media. You know, misinformation on social media is more. They make more money on misinformation or fake information than real information. And our news channels today, I mean, I don't know why I even listen to that stuff, because most of it's fake. And by the way, I'm not Republican or Democrat. Donald Trump is my friend, but I know he upsets a lot of people, but I'm not here to defend him. But the point here is this. What's really going on in the world today is the gap between the rich and everybody else is getting wider and wider. You know, the trouble with being middle class today is that you're getting poorer. You know this. You say the middle class is shrinking. They're not shrinking. They're getting actually bigger, but they're getting poorer. So that's why, you know, I wrote Rich Dad, Poor dad, and that's why I wrote this book Fake. Because the reason the gap between the rich and everybody else is getting bigger is because of fake money, fake teachers, and fake assets. And education is more important than before. I'm not picking on the teachers. I'm picking on the system of education, which is controlled by the rich. You know, question I ask all the time, why doesn't our school teach us about money? Why not? Well, I balance a checkbook. Oh, good. I got my fico, you know, my debt score. I mean, big deal. I mean, how stupid can you be? Look, these guys teach us nothing about money, but it's not an accident. So not picking on the teachers. You know, 90% of all. No, not 90%. 80% of all teachers are good people. 20% are just there for the paycheck and their retirement. But their retirements are in trouble now. So anyway, the reason it's fake is all three are fake. And it's not an accident. That's what Fuller wrote about in his book Grunch of Giants. Gross Universal cash Heist. So fake here is about fake money, fake teachers, and fake assets. So please read the book and you'll understand a little bit more, and then I'll and, and I will go further into why is fake money, fake teachers, and fake assets. So let me give you a brief overview on fake and why it's all the same thing. Fake money, fake teachers, fake assets. Look, ladies and gentlemen, money is created by the US Government. And this is the same all over the world. All over the world. You know, the US has a central bank, Europe has a central bank, Japan has a central bank, Mexico has a central bank. So money is created as debt. So after 1971, money became debt because the US dollar became debt. And all of these guys say, oh, get out of debt. Get out of debt. Look, sports fans, if we got out of debt, the world economy would collapse because without debt, money doesn't exist. So they'll never tell you that. They'll never tell you that. So the problem is money is debt. And to have debt work, you have to have taxes. So real financial education, which I'm covering in fake, is about debt and taxes. But they'll never teach you that in school. The other thing our school teachers teach us nothing about money. Is that an accident? No, it's because the ultra rich, way back in 1903, created the Something association on Education, and they took financial education out of our schools. The purpose of education was to create employees and soldiers, people who do as they're told. So our teachers know nothing about it today. And the thing that's frightening for most teachers is they went to, you know, their belief system was like, my poor dad, if I got a job as a teacher, I would get a steady paycheck and a pension for life. That's not true anymore. Teachers, pensions are bankrupt. Why are they bankrupt? Because of these guys here. And this is controlled by Wall street, the bankers there. So what they tell you to do is go to school, get a job. They teach you nothing about money. And then these guys tell you to invest in stocks, bonds, mutual funds, ETFs and savings. Stocks, bonds, mutual funds, ETFs and Savings. That means your money flows to these guys here. It doesn't go to you. And what these guys do, they suck it out of the teachers unions and the firefighters unions and the police unions. Pensions are the biggest asset pool for Wall Street. So this is a system of fake. And that's what I cover in my book, Fake. We've all been set up by the ultra rich and what Fuller called Grunt Gross, Universal Cash Heist. So what we did at Rich Dad, Poor dad, we said, we teach you about debt and taxes. Got to be careful who your teachers are. In fake, I write about, you know, what made the three wise men wise. What made the three wise men wise? I'm not Christian, by the way. I'm not promoting Christianity. What made the three men wise was they went searching for the best teachers. So, in fact, I write about the best teachers. I know about this system here. And also, you know, I don't invest in the stock market. I've taken three companies public, and I actually produce stocks and those things, but I wouldn't invest in them. You should, baby, but I wouldn't. So those are some of the things I cover in fake. Because one of the problem with these assets, as we know, markets go up and markets come down. That's the frightening part, because it's been going up and down, up and down, up and down. Because they keep printing more fake money to pump this thing up. Oh, my house price went up. My stock markets are up and they're being set up for the next crasher. So let me say it again, and I'll show you a little short demonstration. My book, Fake is about fake money. Fake teachers, fake assets. They're all the same thing. They come under Grunch Gross, Universal Cash Heist. My Buckminster Fuller. So these guys here, you notice these guys don't know anything about money. And they tell you to put your money in the stock market and save money. It's ridiculous. And on top of that, you listen to fake teachers from Wall Street. They're called financial planners or stockbrokers or real estate brokers or insurance brokers. The reason they're called brokers, as my rich dad said, because they're broker than you. So you take all of this bad advice, and it's all fake. So let me show you something here. And I think this will probably make up the. Make it as clear as possible. In 1971 here, the US dollar became fake and became fake because they could print as much as they want. So this is what happened after 1971, when the government couldn't solve its money problems, the US government and governments throughout the world started to do this. They started printing fake money. And the economy expanded. And they kept expanding the economy. Look at it. Oh my God, there's more money in the economy. And everything was fine. So what happened for the baby boomers, my generation, markets kept going up and up and up. So the baby boomers have only known a good time. So then something happened in the year 2000, economists like this, there was a dot com bust. So what did the government do? Because it's fake money. And the teachers kept saying invest, you know, get a job, don't worry about it. Steady paychecks. And Wall street said invest for the long term. So after 2000, they kept blowing more money, fake money into the economy. So then what happened in 2008 as you, there was a bust and they were afraid we were going to go into a depression. But instead of letting the economy collapse, what did the US government do? What did every government across the world do? These guys here, Japan, China, Europe, South America, so they kept pumping more fake money, known as debt into the economy. So 2008, instead of fixing the problem, so today the world economy is this big fat balloon. The point here is the whole world is floating on debt, fake money, and they never solve the problem. These guys, these teachers will never tell us what's happened. They keep saying, oh, don't worry, don't worry, you get a safe, secure job. And what's happening to young people today, they're leaving school with 1.6 trillion in America, 1.6 trillion in student loan debt, and most of them can't find a job that'll pay off their student loan debt. And the old guys, my generation, their retirement plans are just filled with fake assets, their stocks, bonds, mutual funds and savings. So here we are at an all time high Wall Street. These guys, these guys, they're not making any changes. So just as the baby boomers start to retire and the young kids find out they can't pay off their student loan debt is $1.6 trillion. What did Trump do? He cut taxes to keep this thing blowing up. They reduce interest rates to keep this. So you borrow more money. So here we have a world economy, just this big fat balloon. So the question I have is that this is called bubble nomics, not economics. Bubble nomics. Now do you have to have a PhD to know what's going to happen next? Let's say the baby boomers find out their retirements are broke, their entitlements they're not. Medicare, Social Security won't be there for them. What about all the school teachers who found out that Wall street just robbed their pensions of their money? And the police officers and the firefighters. How are we going to solve the problem in bubble economics? We're probably going to keep doing this. So real estate prices keep going up, food keeps going up, medicine keeps going up, education keeps going up. But they don't fix the problem because the problem starts here with education. So question is, what's going to happen? That's what's going to happen. So that's why I wrote fake. I ask you to read fake to understand there's things you can do to not be a victim of the biggest crash that's coming. Let me say this, I hope it doesn't come, but it goes back to 1971. You just can't keep printing money to save the economy. You can't keep having an education system that doesn't teach you about money. And you can't keep having Wall street bankers telling the world what to give them more and more money through their 401s or RRSPs, their superannuations, their IRAs, Roth IRAs. You can't have a country, a world so stupid about money. Because if we keep solving our problems by filling it more and more with fake money, we're going to bust. It has happened throughout history. The Chinese did, Italians, the Romans did it, now America's doing it. So this is where we are, in the world. And never has the world been in such a precarious position due to fake money, fake teachers and fake assets. So I wrote fake. Not because I need more money, but I like to encourage you to think differently, to learn different strategies. You'll find out in Fake how I'm preparing for the biggest bubble to bust I've ever seen. And the good thing about bubbles busting is when they come down, the rich get richer. And what happens is many of the people, the poor middle class, get poorer. So that's why I wrote fake. So think about that for a moment.

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[Robert Kiyosaki]

So welcome back. If you've watched this far because you're such loyal, devoted fans to Rich dad and education and fake fake money, fake teachers and fake assets, let me take you to a little higher level of what I call bubble nomics. Not economics that they teach in school, which is lies. But I'm going to teach you what real bubble nomics looks like. But more importantly, why the rich are getting richer and why fake money, fake teachers and fake assets are making the poor and middle class poorer. So this here is real economics. I call it bubble nomics. I like it because it makes me richer. But this is very simply it. The way money is created after 1971. Okay, very important date and fake starts in 1972 when I'm flying in Vietnam and my rich dad sends me a letter saying, hey, Nixon took the dollar off the gold standard. We had no idea what that meant. I didn't even know what gold looked like because, and this is in 1972. Now, owning gold was illegal for Americans. Imagine that it was illegal. So in 1971, Nixon took the dollar off the gold standard. And I had to find out then, if gold is no longer money, what is money? So the way money is created is here you have T stands for Treasury. So the US treasury sells a bond to the Fed or the central bank. And this is true all over the world. So when they sell a US bond to the Fed, the Fed writes a check. And this where fake money is printed. Say bond, fake money. And then they give it to banks. So money is printed this way. It goes into our banking system. Sounds good, doesn't it? So this whole thing works here, but this is why the rich are getting richer and the poor middle class get poor. What do the banks do? It this is like Goldman Sachs, Wells Fargo, bank of America, pnb, Paribas, the bank of England and stuff like that. Well, not the bank of England, but the big banks, they give this money now it now becomes money and they give it to the rich. That's why the poor middle class get taken out. So why don't they give it to the poor and middle class? Because what happened in 1971, the dollar, or all money throughout the world, the yen, the euro peso, became debt. So the reason the rich get richer is the way they get the money out of the banks. Guys like me is we borrow money and what everybody else is telling you is get out of debt. What the rich are using debt for is to buy assets. So what happened in 2008 when the whole thing collapsed and bubble burst? They dropped interest rates so low because they wanted me to go in there and borrow. So in 2008, borrowed $300 million to buy real estate at dirt cheap prices. That's how money is created. But the poor middle class cannot participate in that because they lost their jobs, they lost their homes and all this. And the banks would never give you that much money because you don't have no financial education, you have no track record, you have no finances. So they give you a credit card, give you bonuses, like, you know, free miles, use credit cards. But this is why they're rich, is getting richer. So let me review it one more time. The treasury then issues a bond. It's called a U.S. treasury bill, 10 year, whatever it is, they sell it to the Fed, Feds write a check, money goes into the bank. And the way it becomes money is they give it to the rich in the form of debt. And all these wizards out there say oh, get out of debt, but invest in the stock market, which makes these guys richer too, getting screwed because our school teachers are not doing their job. So that's kind of what's going on in the world today. So the rich get richer, the young people are deeply in debt with student loan debt, $1.6 trillion in debt. And my generation, their retirements will be toasted when that bubble bursts. Already many state pensions are broke. Like Phoenix, the city of Phoenix pension plan is underwater $9 billion. That means they're going to have to tax the poor and middle class to pay for Wall street stealing the money from the pension plans, which brings up the next thing. The only way debt can they can recoup their money is via taxes. So when they pull the taxes out, it then goes back to the Treasury. That's the system. And the, and the what I explain is guys like myself, we use debt but we don't pay taxes legally. So that's why I wrote fake. If you can understand that, just read the rate the book and see if you can understand a little bit better. But more importantly is what can you do if you can't borrow this much money? What else can you do? And I cover that in fake. In fake I cover a thing called the Infinite Return, where if you have the right financial education, you don't need money to make money. So those are some of the things you will learn in fake. I trust you will learn it because if you don't, you'll probably go back to school, excuse me, and learn from a teacher who knows nothing about money. So let me clarify something about this here. This is called bubblenomics, but in technical term, in academic world, this is called neo neocanian economics. It's basically an economy built on printing money to solve government's problems. John Maynard Keynes, who this is name that would spin in his grave. He says this is not what I designed it for. But all of these guys who run the government, they call it. Well John Maynard Keynes would do this, but that's why it's called neo Keynesian. It is a system designed to make the rich richer and the poor and middle class poor, which will never be taught in schools. So let's take it one more step. You know I was fake starts in 1972 when I was flying in Vietnam. I was fighting for capitalism. I was fighting for democracy. And you know, today we have many, many people going to socialism or communism. We have many socialists and communists as school teachers who are teaching our kids that the government should take care of you. So let me explain to you what socialism looks like. And I'm a capitalist, but let me show you the next thing. What the socialists are proposing is not neo Keynesian. What the socialists are proposing is this. Here you have the U.S. treasury, you have the treasury, you have the central bank, and then you have the banks. This is the old system. What the neo Keynesian or what the socialists are proposing is this. Take these guys out here. What that will do is cut off money to the rich. So what they're proposing, the socialists and communists in America today, the money goes this way, Boom, straight to the people. This is called modern money theory. Print the money, give it straight to the people. And this has been tried many times throughout history. And every time this has been tried, economies goes to hyperinflation and economy has collapsed. So your money becomes worthless because the system is broken. Here, neither system is very good. But this is what the Democrats are proposing. This is what the Republicans are proposing. Question I have for you is I encourage you to read the book Fake and decide which is best for you. Because if we go this way, probably go to hyperinflation and we go this way, we're going into a depression. So that's how I hope I'm wrong. I really do hope I'm wrong. But I'm prepared for either way. And that's what I cover in Fake. You don't have to be a victim of this stuff. You can do something, but you have to do something. To hope that Donald Trump will save you or the Democrats will save you or your Prime Minister or your president will save you is really silly. I suggest this. Read the book Fake and save yourself. So what they're what these guys in America, what they're saying is, we want free education, we want free medical, free manicures, free pedicures, free retirements, and another thing called ubi Universal Basic Income. So there's a lot of these socialists in America give everybody $10,000 a month or something. And they're also saying, tax to rich. That'll never happen, Joe. The rich aren't that stupid because the rich don't work for money. As you've read Rich Dad, Poor Dad. So this is what's kind of going on in the world. It's why I wrote Rich Dad, Poor Dad, Why I wrote fake. They think the way to solve the people is to tax the rich and give the money to the poor. But this is really what's going to go on. So please, if you have a chance, if you're so inclined, please read fake and make different decisions. If you're hoping the government is going to take care of you or protect you, I'll pray for you tonight. I really believe you should learn to take care of yourself. So this has been tried before. Right after World War I, the government of Germany, the Weimar Republic, went straight to this. They just started printing money. It's called the printing press. And the value of what then was called the Reichmark went to zero. Hyperinflation went through the roof. This has been tried throughout history. It doesn't work. This has been tried. It doesn't work either in the long run. So this is the Weimar Republic back in around 1920. The interesting thing that happened when Germany tried this, a man came to power. His name was Adolf Hitler. In 1933, in America, the man who came to power was Franklin Delano Roosevelt. 1933. And we entered a Great Depression at this time also. So I'm afraid history is not going to repeat, but it will rhyme because the system is the system that's in place today. The question is, what are you going to do about it? I choose not to participate in the system. History does repeat again. 1933 was Adolf Hitler. 1933 was Franklin Delano Roosevelt. What brought us Social Security? Neither one was a good answer to it.

[Podcast Host / Narrator]

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[Robert Kiyosaki]

So since you've been such a great audience, I'll give you another lesson in the Robert Kiyosaki Rich dad bubble knock, bubble economics here, you know, because when I talk to people about financial education, they go, oh, I don't have to worry. I learned to balance my checkbook and I learned about FICO scores and I have economics in school. It's a load of crap. That's not financial education. That's financial misinformation. It's fake information because it's not real. It's fake. They're lying to you. So I'm going to give you another little lesson in bubblenomics or bubble economics. But more importantly, how it affects the old guys like me, the baby boomers and your young guys here who are in college hoping that college education is going to save you. By taking economics and balancing a checkbook and FICO scores and investing in the stock market. That's 100% manipulation. It's 100% lie. So let me give you some real examples of bubble economics here. So this is repeating the way money is created one more time. This is the treasury here. The treasury sells a bond to the Fed. Now this is all over the World bank of Japan, European Central Bank. It's the same process throughout the world. And the money goes to the banks, the big banks. This is real economics. They just print money and the money is printed here. It goes to the banks and the money goes to the rich. Like me. Like I said, I borrowed $300 million after the crash of 2008 because I know how to use debt. And what you're taught in school is get out of debt. I mean, that's really stupid because money became debt in 1971. That's real economics, okay? So that's what's going on in the world. And the way these guys get their money back is via taxes. So who pays the taxes? Well, the poor middle class, of course. As you know, the rich don't pay taxes. You know, all this crying and screaming, oh, well, tax the rich, Tax the rich sports fans. Rich don't pay taxes. I just. I just hate to tell you that right now. And I'll give you the reason why. If you really want to know the reason, the rich don't pay taxes, and I cover this in most of my rich dad books. There's three types of income in the. In the world today. Number one is earned income. Earned income is you working for money. So you get a job, you earn, earn money money. When you save money, you're taxed at earned income rates. That's why the save money is ridiculous. Because you pay the highest possible tax possible. It's ridiculous. The second type of income is portfolio income. It's also called capital gains. So when your house price goes up, that's kind of earned income. I mean portfolio income. Your stock price goes up, you buy a Stock Apple for $10, you sell out for 15, you made $5 in portfolio income, okay? This is tax at the next lowest rate. And then the third type of income is passive income, also called cash flow, which is why I created the board game Cash Flow. Because what I want is cash flow. I don't want earned and I don't want portfolio. That's why I don't, I don't invest in stocks and I don't flip houses because if I flip houses or I flip stocks, I pay portfolio income. But if I hold on to my real estate and my business, I get passive income and I can pay zero tax on that. So that's real financial education, not this garbage I'm teaching you in school here. But let me talk again to the students out there. If you understand the system of money, the way it works here Is this the baby boomers are being ripped off because these guys here, the banks sell you stocks, bonds, mutual funds and ETFs. This is your retirement. So when they're telling you to save for retirement, that's where the money goes. Those guys are ripping you off. That's what I wrote about in fake. It's called assets under management. So these guys should rip you off. That's why I don't invest in those things. Okay? What I do like about the banks is they give me the debt. Completely different way of thinking here. So I pay no tax on debt. $300 million I borrowed. I didn't pay any tax on that. On top of that, if I buy real estate and I earned passive income and I depreciate and amortize my property, I pay no tax. So when they say tax the rich, that's insane. That's absolutely insane. They're not going to. The rich don't pay taxes. So if you really want to get educated and be like the rich, read fake. Or you can say tax the rich, which the socialists and communists are talking about. So this is how they're screwing the old guys. Me, because there really wasn't a need for a retirement system until 1974 and the world changed. I won't go into it now, but that's how. This is how we screwed it. They took away what's called the defined benefit pension plan and. And they created the 401k or IRA. But Wall street still got the money. And if there's a crash, they're going to lose all of it. But let me. So that's the old guys. The old guys are in trouble of not being able to retire. So the poor and middle class will get poor, rich will get richer. But how does this screw younger guys? And they get them through a thing called student loans. You see, the government needs debt, so they couldn't screw these guys more. So they have to screw these guys. And the way they do it is they blow it up again. Say, how can we get more debt into this system? Because they've already. They're already ripping off the old guys. Well, how can we screw the young guys? The way they screw the young guys happened in 2009. Up until 2009, it was the banks that issued the student loan debt. Debt. And they were tougher on them. They made it tougher for students to get loans. But what happened in 2009, President Obama said, the treasury will issue this. That's what happened. So it became an asset. Student loan debt became an asset of the U.S. government today, as I speak, it's $1.6 trillion. It's almost bigger than the real estate crash. So the way they kept blowing more debt into the market was then they already screwed the old guys, now they're going to screw the young guys. So these guys here have the worst type of loan. And again, it was Obama. And this now is the biggest asset of the U.S. government. And the student that can't find jobs, they come out so highly in debt. The debt their job will not amortize will not pay off the student loan debt. And this is why there's no financial education in our school system. Because if you knew what was really going on, you wouldn't send your kids to school. Or you demand the teachers become accountable and teach real financial education, not that BS they're teaching you right now. Because all we're doing, and I'll show you this demonstration right now, as these guys cannot retire because. Or they, they're going to say, where's my money? You know, states like Kentucky, New Jersey, Rhode Island, Illinois, California, Hawaii are going bankruptcy. That means the Fed will have to bail governments out, state governments, Social Security is going broke, Medicare is going broke. As these guys go broke, old guys. So they're going to keep just doing this because when this blows, they're going to have to do something to cover their butt here. So that's why it's called bubble economics. It's based upon fake money, fake teachers and fake assets, and a bad financial and a bad education system that doesn't tell people the truth. So the question is, how much longer can they keep blowing this up with fake money? Stock market's high, real estate, real estate is so high that the young people can't afford houses anymore. You know, food is getting more expensive, medicine is getting more expensive. So they now want more fake money. They want universal basic income. Give people money, tax the rich. That's all bubble economics. And you've already seen this demonstration before. Eventually this is going to bring an end to an all. I hope I'm wrong, but the end is near. And I'm afraid when that happens, the whole thing comes down. So we either go into a great depression or we go into hyperinflation. It's happened before throughout history. So that's called bubble economics. This is not a new thing. The difference is it's now worldwide because this is the system most Western countries are on. And students of the world had better get educated pretty quickly because these guys, the old guys, will demand, they might move in with you. Anyway, that's real economics. What is called bubble economics. Thank you for paying attention.

[Podcast Host / Narrator]

This podcast is a presentation of Rich Dad Media Network.

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