← Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
This Financial Crisis is BIGGER Than 2008!
00:19:35
Is your money really safe? In this episode of Rich Dad’s World, Robert Kiyosaki and gold expert Andy Schectman expose the truth about fake money, real assets, and how to protect your wealth before it’s too late. Since 1971, when the U.S. left the gold...
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- [00:00]
Ryan Seacrest
Hey, it's Ryan Seacrest. For Albertsons and Safeway. It's stock up savings time now through March 25th. Spring in for storewide deals and earn four times the points. Look for in store tags to earn on eligible cleaning items from Charmin, Tide and Downey and dinner essentials from Stouffer's, Digiorno, Arby's, and Violife, plus many more. Then clip the offer in our app for automatic event long savings stack up those rewards to save even more restrictions apply. Visit Albertsons or Safeway.com for more details. At Lowe's, our members get more with the Mylo's rewards programs. You can shop member only deals for your home and business every week. Plus members earn points on eligible purchases. So what are you waiting for? Join for free today. Lowes we help you save loyalty programs subject to terms and conditions. Details@lowe's.com Terms subject to change. Free standard shipping not available in Alaska and Hawaii. Exclusions and more terms apply. This is the Rich dad radio Show. The good news and bad news about money.
- [01:06]
Robert Kiyosaki
Here's Robert Kiyosaki.
- [01:08]
Hello, hello, Hello, Robert Kiyosaki. Welcome to Rich Dad's World. And today we have a very special guest, as all our guests are. But I want to apologize for my outfit right now. I just got in from the gym. But it's a way of plugging what Rich World does or promoting them. My saying is, if it's important to you, hire a coach. And I think that's one of the reasons people are not successful is they, you know, they eat a cheeseburger instead of hiring her coach. You know what I mean? And so my coach pushes me. They're younger than me. They push harder. They're trained. And as my rich dad always said, you know, amateurs don't have a coach, but professionals always have coaches. So I've always had coaches for whatever was important. My rich dad was one of those persons. I wanted to learn how to play Monopoly in real life. So he was my coach. And when I came back from Vietnam, my poor dad says, go to school. Get your PhD. I said I hated school. Why would I do that? And my rich dad very simply said to me, he says, then go take your real estate or take not a real estate license. There's a difference. He says, learn real estate. And then, because what you're learning is debt. So my rich dad was my coach, so I learned to play Monopoly in real life. And today I have a billion two in debt. I'm very happy with it. So that's My way of saying, if it's important to you, hire a coach. So I guess today is very impressive then, because if you read my story is I. I became a silver bug in night in 1964. I was 17 years old, and I held up a dime. I said, why is this, dad? Copper, you know, why is this thing copper? All of a sudden? And then I held up a quarter. It was copper also. Then a half dollar, I think it was copper also something. I'm going, what the heck's going on? And the greenback, instead of saying silver certificate, said Federal Reserve note. So I'm only 17 years old, but I knew something was fishy. And that kind of twigged my mind ever since then as to what is really going on. So it became my study. And I found out about Gresham's Law. Gresham's Law states that when fake money comes into the system, real money goes into hiding. But it was intuitive. Nobody told me that. Nobody told me that. I just kind of knew that fake money is not good. So I used to caddy to make money, and I would go to the bank, take my dollar bills, and I'd buy rolls of dimes and quarters. And I'd go through the dimes and quarters looking for the copper ones. And I gave it back to the bank, and I kept the silver, real silver ones. And so by the time I left for school in 1964, by the time I left for school in 1965 in New York, I had a whole bag, I think what they call this dirty silver. But it was real silver. And of course, the problem with poor people is they don't know the difference between fake money and real money, which is, well, I wrote this book here fake. You know, we have so much fake today. So I came back from school in New York, and my mother, again, my mother and father, poor dad, they're poor people. I mean, highly educated poor people. And my mother spent my dimes and quarters. She. She didn't know what she was spending. And she goes, well, you know. So today we have a special guest. Today is Andy Schectman, and he is a wealth of knowledge and is why you should be into gold and silver. Because as you know, most of the world today is fake. Fake news, fake money, fake everything. So welcome to the program. Andy, great to be back.
- [05:23]
Andy Schectman
Robert, it was good to see you again.
- [05:25]
Robert Kiyosaki
And I always say the definition of intelligent is if you agree with me or intelligent. Andy's very intelligent. In fact, he's more knowledgeable about the subject of Real gold and real silver and fake money than anybody I know. So Andy, would you mind giving us a little bit of your background as to Miles Franklin and what what you guys do? How did you get into this business?
- [05:49]
Andy Schectman
Sure. My father and I started the company together, Robert, purely three years ago. We have been fortunate enough to do over 7 billion in sales. We've never had a customer complaint ever. We're one of only 27 U.S. mint authorized resellers in the world. We are licensed and bonded in what is a federally non regulated industry. State of Minnesota, where our corporate office is located. Securing wealth is through precious metals. And I say it that way because I don't look at gold silver as an investment, Robert. I never have. I look at it as wealth. Wealth wealth that has outlived two world wars, German hyperinflation, the Great Depression, every pandemic and is still immutable. Wealth that truly I hope I never need to use. And if I do, I'm darn glad I have it. Whether it be for an emergency as most people think about owning gold and silver for, or perhaps an opportunity I think maybe you would look at when the dust settles, there will be opportunities. Maybe it's stocks selling at single digit price to earnings ratios, paying a 7% dividend. Maybe it's that real estate that we've always wanted that's selling for pennies on the dollar. Whatever it is, I know it's there if I need it. And if not, I pass it on to my children. And I feel comfortable in creating and leaving a legacy for my family that I know that long after the dollar bills in our wallet are hanging from a frame in the Smithsonian that gold and silver will still be immutable wealth.
- [07:29]
Robert Kiyosaki
I've been in gold since 1971 when Nixon took the dollar off the gold standard. The price of gold is the same throughout the world. And that was when I started. I became a silver bug at first and by 72 I was a gold buck.
- [07:47]
Andy Schectman
But what you just said, Robert, is something, I don't really know if people understand the significance of it. And it's something that I have harped on for decades now and that is simply that gold is universal. Silver is universal. It doesn't have to be. There can be a language barrier. Gold will break through the language barrier. Gold and silver is wealth. It's not an investment. At least it's not to me. And I think that's the best way to look at and I think the people going all the way back to the beginning of time who had wealth. Kings and queens and pharaohs and emperors, you name it. I mean, they didn't buy gold from their gold dealer. They owned it as a form of immutable wealth that is able to be passed on throughout the centuries. And that is how I look at, and I think to this day, the wealthiest people and the wealthiest central banks and the wealthiest, most powerful people in the world understand that is the role of gold and silver. And as Dr. Franz Pick once said, all paper currencies or all fiat currencies inherently are meant to die. Look at gold and silver as wealth and money. It has outlived everything and it is still here. While every paper currency before us is in history.
- [09:07]
Robert Kiyosaki
Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news. But the challenges we face as a nation are still here in. In four years of chaos, the dollar has lost value, inflation run rapid, interest rates through the roof, and wars rage across the globe. Trump has inherited an economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from BRICS nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything is that we need to take action and protect what we've worked so hard to earn. That's why we partner with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments, they're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines. Act today. Secure your wealth. Go to protectwithrobert.com or call 8443-ROBERT that's 844-376-2378. Let them help you get started. Protect with robert.com this episode is brought.
- [10:31]
Andy Schectman
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- [11:16]
Robert Kiyosaki
Wait, wait, wait. You know, let people catch on to what you're saying here. The bigger point here is this, okay? I just make it simple. Gold and silver are God's money. God placed it here. And fake money is fake money. Fiat money, and it's fake. That happened in 1972, and as most of us know, is what forced the issue was the government of France. Charles de Gaulle, I think, were one of those guys sent warships to America to pick up their gold. And the reason was America was printing so much money that they still are. They're printing as much as they can. America today, I believe, is the largest debtor nation in the world. And they're printing. I think they printed more money in the last 10 years than they did the last 30 years. And people are still saving money. There's a lot of fake silver. I mean, I don't take ETFs, I don't have gold, which is I have no paper. I've never trusted paper since Vietnam. And so GLG is a gold ETF, and SLV is a silver etf. I never touched it. So let me just say this, okay? Why again, it used to be $50 an ounce for silver when the Hunt brothers are trying to corner the market. I'm that old. I've been in 64 and 71. I've been in gold. So 64 to 71. I've watched it, I've played it, I've done it. I have literally tons of gold and silver. I own gold mines and silver mines. I don't play with paper. Why? What is it with people's psyche? You, Miles Franklin, can deliver. And I talked to my friends, and, no, I think I'll wait for it to hit 500 an ounce. Silver. Why? Why are people that stupid, Andy?
- [13:15]
Andy Schectman
It's the same reason so few people are ever successful in investing, Robert. They wait until it's been validated by price. And I think the only way to truly succeed is to buy when the price is low. And what's most intriguing about silver is that its fundamentals couldn't be stronger if people were to look under the hood instead of just looking at the price and realize that this is a commodity that has duality in demand, both industrial and monetary. This is a commodity that's coming out of the ground at a ratio to gold of 7 ounces of silver to 1 ounce of gold yet is priced at 90 to 1. This is an asset that is depleting in nature because for 5,000 years its ratio was 16 to 1 to gold. Now it's 7 to 1 in every respect. It's the most undervalued commodity and or investment.
- [14:08]
Robert Kiyosaki
Let me just say it, let me make it really simple, okay. Gold is hoarded, is not really used that much. That's right. So most of the gold has been. You know, I've been through the Andes in Peru and I've seen the gold mines the Incas were driving, you know, because I was buying a gold mine up in the Andes. This is in what, 96, I think I was, I was looking up there, I said, geez, for a thousand years the Inkas were digging for gold. And then I went looking for a gold mine in Mongolia. There's a place called the Checkerboard. And the Mongolians were digging for gold. And the thing is, the gold that they dug up is still around. But silver is depleting because it's an industrial as well as a precious method metal. So what are some of the things that's used in what is silver used? Why is the demand for silver going up as an industrial metal?
- [15:12]
Andy Schectman
Well, of course, in a green and digital world, anything that conducts electricity or electronic solar panels, battery powered vehicles, iPhones, iPads, flat screen TVs, just about anything that conducts electricity has a modicum of silver in a dense. So whether you're talking a simple light switch to a motherboard that has a fifth of an ounce of silver in it to run a computer, it all has silver in it. And to your point, because it's used in such tiny amounts, most of it isn't recycled. Even the gold that is used in industrial applications, it's so valuable, it makes sense to recycle it. And so you could argue that all of the silver that has been used in industry in the last 80 years, the majority of it is in landfills somewhere. And so it's an asset that is depleting in nature. And so it represents a very unusual situation. And really the truth of it is that you have a handful of commercial banks on the commodity exchanges that are suppressing the price. When you talk about what's happening in terms of retail demand, at the same time, to me, what is really different is that you have a whole world that is awash in inflation and anxiety of war and geopolitical issues. And you know, as you said earlier, in the last four years, the US has printed more money than in the history of the country before it can.
- [16:39]
Robert Kiyosaki
I rich dad, poor dad. I put savers are losers. And the debt's going like this now inflation is going like this and inflation leads to instability. That's my concern. And I said if. And so I posed, I said, silver will probably go between. I expect it to go to 100 to 500 in five years. And this idiot friend of mine says, I'll just wait five years. Then I want you to prove it's going to go up. I said, but look at, as you said the word earlier, the fundamentals as you know, it's being consumed, it's being burned up. And I mean Tesla, God bless them, they're burning silver. Every TV sets burning silver and it disappears, it stays out of circulation. And what my friend says, andy, get this, I'd rather have bonds. I'm going, are you kidding me? Because as interest rates on bonds go up, his bonds get less valuable. I just can't believe the psychology of. So my question, there's more than this is my, like, I've dug for gold and silver all over the world, in Argentina and everything. I sold my silver mine to Yamana, you know, with a good profit on that one. But I, I don't sell silver. I sell the mine, but I won't sell it in silver. And, and I like oil because it can't print oil. So I would say I like anything the Fed cannot print because the name the Fed can print, it's fake.
- [18:11]
Andy Schectman
But I haven't seen this event coming where there is a realization, an awakening by the public that, my gosh, it's time to think outside the box, to start thinking in a way that your rich father taught you to think. Not so much by the book, but outside the box and think about money differently.
- [18:32]
Robert Kiyosaki
Why are these idiots still hanging on to bonds and stocks? That's, that's why they don't know 2013. I said this was coming and people still hang on. And also I put my money where my mouth is. This is my gold mine here. The Trixie Gold mine is the richest gold mine in the history of America. And I like it because it's in Utah. My last gold mine was in China. The biggest gold mine in China. You know, I took it public on the Toronto Stock Exchange and as soon as we struck gold, Chinese said, thank you very much.
- [19:12]
Andy Schectman
He who owns the gold makes the rules.
- [19:14]
Robert Kiyosaki
Amen.
- [19:14]
Andy Schectman
It's coming, it's coming.
- [19:16]
Robert Kiyosaki
It's the golden rule. It's the golden rule.
- [19:19]
Andy Schectman
We are entering a period of time where people need to Realize that holding dollars, holding bonds, entirely, being fully invested in US Based assets is Tom, is the key to becoming insolvent. If you are not a contrarian, you're going to go broke. If you hold everything in dollars, you are destined to go broke based upon the macro trends that are happening, whether it be by the hand of our Federal Reserve, who, if they continue to raise rates, will blow everything up. If they pivot and start to print money again, they will signal hyperinflation. There's going to be a moment where the rubber has to meet the road we have lived long past our our right to, I believe, control the world reserve currency based upon the mismanagement of it. And the rest of the world, I think, is fed up. So this is why you need to be a contrarian. This is why you need to mitigate your exposure to the dollar. Right now, the rest of the world is doing it.
- [20:24]
Robert Kiyosaki
Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news, but the challenges we face as a nation are still here. In four years of chaos, the dollar has lost value. Inflation run rapid, interest rates through the roof, and wars rage across the globe. Trump has inherited an economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from BRICS nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything, it's that we need to take action and protect what we've worked so hard to earn. That's why we partnered with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments, they're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines. Act today. Secure your wealth. Go to protectwithrobert.com or call 8443-robert. That's 844-376-2378. Let them help you get started. Protectwithrobert.com Donald Trump returned to office and Republicans take control of the House and Senate. It's huge news, but the challenges we face as a nation are still here. In four years of chaos, the dollar has lost value. Inflation run rapid interest rates through the roof, and wars rage across the globe. Trump has inherited an Economy that's a total mess and the burden to rebuild is huge. This isn't going to get fixed overnight. Especially with the ongoing assaults of the dollar from brics nations and our growing national debt. Your savings are still vulnerable. Gambling with your wealth is not an option. If we've learned anything is that we need to take action and protect what we've worked so hard to earn. That's why we partnered with Allegiance Gold, a company we trust to help you protect your financial future. Gold and silver are time tested ways to hedge against economic chaos. They're not just investments, they're peace of mind for your wealth. When you start your investment with Allegiance Gold today, you'll get free silver as part of their exclusive offer. Just mention Robert sent you and they'll take care of you. Don't sit on the sidelines at today. Secure your wealth. Go to protectwithrobert.com or call 8443-ROBERT. That's 844-376-2378. Let them help you get started for techwithrobert.com.
- [23:14]
So let me just summarize really quickly. You know, 1944, after end of World War II, America got everything, including the designation of the reserve currency of the world, which the dollar was supposed to be backed by gold. So that was 44, then 64, they started printing fake silver dollars and fake dimes. That was Gresham's law. When fake money enters the system, good money goes into hiding. Except poor people like my mom and dad spent it. They don't know what money is. My dad's a PHP, has a PhD. So that was 64, then 74. You know, we become OPEC's trading partner. Anyway, I want to thank you. I want to encourage everybody listening to this program. You know, this is Rich Dad's world. I want to thank Andy for the generosity of time and his education. But the man is for real. Like I said, I ordered from the test. When my dealer said they couldn't get it, he ships 133 pounds of silver to my company. So they're now believers in this stuff because they were, you know, rich dad, Poor dad said savers are losers. Your house is not an asset. And the rich don't work for money. Rich work for assets. Real assets. So I would suggest everybody watch this video one more time because that was a ton of information coming at you from Andy Schectman here. And then if you have friends and family, listen to this also, because you know, many people, your biggest asset may be your family, but when the dollar collapses, they could be the biggest liability you have. So that's why we have Rich Dad's World and we're a financial education company. I make no money selling gold and silver. We sell financial education and coaching services. That's why in my gym outfit to practice what I preach here. So Andy, thank you very much. Your wealth of information is priceless, priceless, priceless, priceless. And for me to get to know you. Thank you, Robert.
- [25:09]
Andy Schectman
Thank you for having me. It's such a joy, such an honor to hear such nice words from you. I can't tell you how much I appreciate how excited I will be to come back whenever you.
- [25:21]
Robert Kiyosaki
This podcast is.
- [25:23]
Andy Schectman
A presentation of Rich Dad Media Network.
- [25:27]
Ryan Seacrest
Hey, it's Ryan Seacrest for Albertsons and Safeway. It's Stock up Savings time now through March 25th. Spring in for storewide deals and earn four times the points. Look for in store tags to earn on eligible snacks like Outshine Fruit Bars and Ritz Crackers or sweet treat favorites like Nestle Drumsticks, Nerds, Gummy Clusters and Lindor Chocolates, plus many more. Then clip the offer in our app for automatic event long savings. Stack up those rewards to save even more restrictions apply. Visit Albertsons or Safeway.com for more details.
- [25:56]
Andy Schectman
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