← 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
Why Crypto Investors Are Missing the Bigger Picture
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- [00:01]
MIDI Health Host
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- [01:46]
Rich Dad Radio Host
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- [02:20]
Robert Kiyosaki
The good news and bad news about money. Here's Robert Kiyosaki.
- [02:25]
Hello, it's Robert Kiyosaki. So before I begin, I'll just give a little bit of my background. I'm an old guy obviously, so why do I know anything about Bitcoin or crypto and all that? And the reason is years and years ago I was A student of this man here. This is Dr. R. Buckminster Fuller. So in 1981, Fuller wrote this book here. It's called Critical Path. It's the critical path of Humanity. It's not one of the easier books to read, and especially for me, since I flunked out of school twice because I'm not very smart. But I do like to study. I want to say to all you crypto guys out there, you guys are small change. You think too small. It's because there's something far more important than what's the price of bitcoin. So in this book, Critical Path, which came out in 1981, I began studying with Dr. Fuller. I traveled from Hawaii, where I grew up, to a place called Kirkwood, California, which is the shores of Lake Tahoe in California on the California side. And a critical path is the path of humanity. And Fuller is known as a futurist. He could predict the future. For example, he predicted the rise, the fall of communism and the rise of the Internet. He said that would happen before the end of the decade and the fall of communism. And Fuller died in 83, by the way. So he says by the end of this decade, communism would fall or the Internet would appear. It appeared in 1989. So he was very, very accurate. Fuller predicted the start of discovery of new elements and all this. Fuller also predicted what's going on in the world today. He said that these tall office buildings would someday be homeless shelters because the economy would collapse. So as you know, today, many of the big high rises throughout the world will someday be homeless shelters just because our economy is collapsing right now, which is good news for bitcoin guys. But I'm going to say it again, I'll piss some of you guys off. You think too small. You got to think bigger. So this is Critical Path. He also predicted in here the rise of bitcoin. And he talked about how these electronic games back then, it was held by modems that would give rise to a new form of currency. And that's bitcoin. So Fuller was way ahead of his time. And again, he died in 1983. And I started studying. I first started studying with Fuller in 1967. So I went to the Expo 67 in Montreal, Canada. I was at school in New York, went to military school. I hitchhiked to Montreal, Canada to see the World's Fair on the Future. And Fuller's dome, the geodesic dome, was the US pavilion at Expo 67. So I was this 20 year old kid just looking around this dome Going, holy mackerel. Because I was looking at the future. So that's this man here, Dr. R. Buckminster Fuller. He was my teacher, and he helped me see the future. But I'm going to give you some bad news. You crypto guys think too small. Got to think bigger. So the point here is this. Think bigger because you're onto something very, very important. So what happened? Fuller passed away in 1983, and he wrote this book here posthumously. It came out after he passed away. He died on July 1, 1983. And this came out a few months later. It's called the Grunch of Giants. So why am I, an old guy, speaking to young guys who are crypto heads? The reason is because of this book here. It's called the Grunch of Giants. I understand how the world is ripped off by grunch. Grudge stands for gross universal cash heist. In simple terms, it's the Fed, it's Wall street, it's the US treasury, it's Big Pharma, it's the military industrial complex, it's media, it's our education system and all that. These guys rip us off. So the reason I love bitcoin, I love all you crypto heads out there, is because you guys are anti grunch. So I may not know as much about crypto as you guys do, but what I do know is the bigger picture of what's going on in the world of money. So let me say it again, you bitcoin and crypto heads out there, you guys think too small. You're peeing in the ocean of infinite wealth. You think, oh, there's 21 million satoshis, or whatever they are, you know, that's small. It's massive. And I don't really. I own some bitcoin. I own some Ethereum. I also make a lot of money other places because the world of money is much, much bigger than bitcoin. So I'll say it again. You bitcoin guys are just peeing in the ocean of money. And there's so much money to be made out there, and you guys are worried about if crypto bitcoin is going up or down and all that. All things go up and down, you know. So I got interested in bitcoin when it was at 20k. I watched it and it crashed down to, I think, three. It came to seven. I watched it again there, and then I started buying at 9. So I'm still in the money. I mean, if bitcoin drops to 27, I'm back in again. It's called I don't ever sell bitcoin. I never sell gold. I never sell silver. I just stash it, I hoard it. Because I don't need money. I'm an entrepreneur. But bitcoin and ethereum are stores of value, same as gold and silver. Gold and silver are God's money. I call bitcoin and crypto people's money. So I'll say it again. If you guys want to get rich, you guys think too small. You guys are like me, peeing in the ocean, thinking I'm a rich man. The world of money is massive. Massive, massive. So that's why I can speak to you from the period of grunch, of giants, that after I read grunch, then came this book here. It's by my friend G. Edward Griffin. This is a second look at the Federal Reserve Bank. So the reason I understand bitcoin and crypto is because I actually did study the Federal Reserve bank system. If you guys want to get rich, study this system. Because whether you know it or not, the Federal Reserve, the US Dollar is the reserve currency of the world. It became the reserve currency in 1944. In 1971, when I was in Vietnam, Nixon took it off the reserve currency list. So the reason I support crypto is because these guys are corrupt. And what you're doing is we are sympathetical, working together to prevent the world from ripping these guys off, which is part. The Fed is part of grunch here. So if you understand the bigger picture of this, you'll understand why I'm talking to you today. So I'm an old guy, but I studied the biggest picture possible. And you guys in crypto are this big. Think bigger. Because there's so much money out there. I don't know what the heck you're thinking about satoshis and all that stuff for. There is so much money to be made. I talked to several guys who had made several hundred million dollars in bitcoin. The trouble is they don't know what to do with their money. One guy says, well, I bought a Lamborghini, then I bought another Ferrari. Then what do they do? You see what happens if you don't understand money and you just happen to get lucky. You're like Meghan Markle who marries Prince Harry. That's all you crypto guys are. You married into royalty called bitcoin. The Story of Rich dad, Poor dad is about the story of my two dads. I wrote this book in 1997 after I created this board game Cash Flow in 1996. So I'm going to tell you how I make money and why crypto heads can, you know, assist in the process. Because otherwise all you guys are going to do is he going to make more money and buy another Lamborghini. I mean, I have my Rolls Royce downstairs, I have my Ferraris, I have houses, I have a jet and all this, but I am an investor first. So I made money the old fashioned way as an investor. So Rich Dad Poor is a story about my poor dad who was a head of education for the state of Hawaii. Very good man, PhD, went to Stanford, Northwestern, University of Chicago. And as you know, most school teachers know jack about money. Nothing, absolutely nothing. But they think they're intelligent. And my rich dad was a man who never went to school. He was a man whose father, his father died when he was 13 and he had to take over the family business. So rich dad, man with no education, became a real capitalist. My poor dad, a very good man, was a Marxist, communist. But he didn't know it because our schools do not teach this. So most of you guys out there, you still think like your mother or your poor father. Go to school, get a job, get a college degree, save money and invest in the long term of the stock market or get out of debt and pay your taxes. I don't do any of that stuff. So just hear me. If you're going to get rich, you've got to change the way you think. It'll change the words in your head don't say go to school. What are you going to learn from a poor person like my poor dad? You know, get a job, get a job, you're going to pay taxes. Pay taxes, you're going to pay taxes. Buy a house. House is a liability. That's what most bitcoiners do. They, they get this house, they buy a, they got this, they make millions, they buy this big freaking house, they pay higher taxes and really selling and then buy a nice car. I'm not against. I have big houses, I have nice cars, I have my jet. If you're going to become rich, you better start thinking like an investor. Because the moment you sell your bitcoin, you have a taxable event. The trouble with selling your bitcoin is you pay taxes. The trouble with borrowing against your bitcoin, when the price drops, you have a margin call. Got to start thinking like an investor. And that comes up to this book here called Rich Dad's Cash Flow Quadrant. So this is book number two. This is your book Right now. Okay, so let me explain. Rich dad, poor dad. This is rich dad, poor dad here. This is what they don't teach you in school. All this is, is a financial statement. So financial education in schools begins with a financial statement or financial literacy. What's an income expense, asset liability statement of cash flow. That's all rich dad, poor dad is, it's this here. So when I talk to all you crypto guys here, this is where you guys are at. You're way down here. There's businesses, there's real estate, there's stocks, bonds, mutual funds, ETFs and paper, and there's commodities. Bitcoin, I classify in the commodities of oil, silver, gold and bitcoin. You're way down here. This is the world of money. So you made a lot of money here, but like I said, it's like peeing in the ocean. There is so much opportunity out here. But if you think like my poor dad, what you're going to think like is say that, oh, I have a high paying job or I have a lot of money. I made money in bitcoin. What I want to do is I want to buy a Lamborghini or a house. My poor dad, his biggest asset was his house. That's why he was poor. Because it's not a house. It's not a house, it's not an asset, it's a liability. So this is where financial literacy kicks in. You must know the definition of words. An asset puts money in your pocket. So I own businesses and businesses put money in my pocket every month. I own real estate every month they put money in my pocket. I own a house and it takes money from my, it takes my money from here out the expense column. So that's why the most important words are cash flow. So what real financial education is, is how do you control cash flow? The two most important words in financial literacy, this is a game for capitalists. If you're a communist, go to school, get a job, work for the government, work for the Fed. So anyway, your bitcoin guys are kind of down here. I have gold, silver and bitcoin and ethereum and I have oil, I have food. That's how, this is how big the world of money is. The thing about my gold and silver is I pay zero for it for my bitcoin, zero for it for ethereum, zero for it. And the reason is my assets from here buy my bitcoin, my gold, my silver and all this stuff. So if I'm twisting your heads around good, or I could Tell you, go to school, get a job, pay your taxes, work hard, save money and put your money in a 401k. That's what every loser does. Loser, loser, loser. Or they buy themselves a big house and they call it an asset when it's really a liability. Or a Ferrari or a Lamborghini or Rolls Royce, and they call it an asset. It's a liability. That's why they're losers here. So the reason I created this board game with my wife and this cash flow thing book here is this is what we teach. And the beauty bug game here. The way I learned to be an investor was my rich dad taught me playing Monopoly. Four greenhouses, one red hotel, four great houses, one one red hotel. Today I own 8,000 rental units. I own businesses, I own hotels. But all I'm doing is focusing here. So when I left school, this is all I focus on here. How do I acquire assets? Most of you are thinking over here or over here. You've got to get your mind back into here. How do you convert Bitcoin into other assets is your job. Otherwise you can just go buy a big house, a new Lamborghini, big deal, you're poor.
- [17:21]
For years I warned our money is fake, our debt is out of control, and the middle class would get crushed. They laughed. Now groceries are up, power bills are up, Everything in your life costs more. The dollar buys less every month. And Wall street is chasing another technological fantasy with AI. I saw this with Dot com, I saw this with housing. When everyone believes a new miracle will fix everything, you are in the bubble. So I do what I've always done. I buy real assets, real money, gold and silver. Silver is already up 55% this year. And I believe $100 in silver today could be worth 500 within a year.
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Why?
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Because silver is not a trade. It's the backbone of the new economy. AI chips need silver. Tesla needs silver. Solar batteries, medical tech, aerospace, all need silver and there's not enough supply. Silver is beating inflation, beating the stock market. Most people will wait for permission. They always do and they will always miss it. If you want to learn how to add real silver to your IRA or 401k legally and tax free before the next move. Text silver the 24999 right now and get your free Rich Dad Silver Guide. Do not wait. The smart money is moving now. Text silver the 24999 right now and get your Rich Dad Silver Guide.
- [18:38]
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- [19:54]
Robert Kiyosaki
So let me review it really quickly. I built, my wife and I built this cash flow game because I learned to get rich playing Monopoly. But what makes this game different than Monopoly is this here. This game teaches you how to use a financial statement. It teaches you how to move your money around, how to control your cash flow. That's what this game does. So in 1996 we created this book, this game. 1997 I wrote this book to sell this. And then I wrote the second book in the Rich dad series as a cash flow quadrant. And that's this book here. And this is what I'm talking to most of you about today is most of you are here in mindset. You go to school to get a job and what you're taught and what, what an employee will always say is, oh, I'm looking for a job security. I want steady paycheck and I want benefits. You're a loser then because you're going to pay taxes. And these guys here, the S's, they're the specialists like doctors, lawyers or dentists or they're small entrepreneurs. Guess who pays the highest taxes over here? These guys here. So when these financial experts on YouTube say, start your own business, I go, oh God, you got to be nut. You start your own business. You come here, you walk into a 60% tax bracket here, you cannot get ahead. It's almost impossible to get out of here. So this is worldwide. There's not much difference. It's worldwide. So at 40%, you, you quit your job, you start your small business, you got a little side hustle going. You're now paying 60% in taxes. If you have any profits, you cannot get ahead. So the reason I wrote this book, so B stands for big business. Big business is 500 employees or more. It also stands for brand Rich dad is a brand. The reason I make so much money is rich dad is a brand. It is a worldwide brand. And what I stands for is insider. I only invest from the inside. These guys invest from the outside. These guys invest in stocks, bonds, mutual funds, ETFs, 401ks, IRAs. But if you want to, go ahead. But the reason we created the cash flow board game is to start type thinking on this side here. You got to reorient your brain to this side, not this side. And your mommy and daddy probably said, stay over here. Smart thing to do. An insider means you have to be inside the deal. I would Never touch a 401. You know, guys like Dave Ramsey, he's a friend of mine, says live debt free. I would never live debt free. You see, I borrow money over here, which is debt, and I buy real estate, I buy houses, I buy businesses. But I use debt to get rich. And Dave Ramsey says get out of debt. And for most people, Dave Ramsey is correct. These guys should live debt free. And then Tony Robbins, who's also a friend of mine, he tells you to buy ETFs. Oh my God. You know, that's called passive investor. I wouldn't touch this stuff. But if you like Tony Robbins, buy ETFs, have an IRA and a 401k, I don't touch that stuff. And the reason for that is in this book I wrote here, it's who stole my pension? In the next few years, if you already don't know about it, those guys with ETFs and stocks and bonds, they're going to find out their pensions have been looted. They've been stolen. When I was just coming out of the Marine Corps, was getting into The Marine Corps 1974, they started selling guys my age, in our 20s that we should have a 401k. The reason they wanted my generation, the baby boomers have a 401k is because most Americans wouldn't touch stocks because everybody knew stocks were risky. Most Americans back in the 70s when I was growing up were in bonds and they couldn't get people into stocks. So they invented this thing called the 401k. When I was working, I was just Growing up. And everybody said, oh, you have a 401. You have a 401K. And because I had a rich dad, I knew I was being set up. I don't have a 401k. Our company doesn't issue 401s. And they're good for the average person. But what you're going to find out within the next five to 10 years, there's nothing in them. They've been looted. And who looted it? The Fed. And that's why I know, that's why I support bitcoin and all that. Because they're outside the financial system of the Fed, the Treasury and Wall Street. You like the Fed, treasury and Wall Street. Stay on this side here. But I think the reason you guys are in bitcoin is because you don't trust the US Government. Which is my way of saying the advantage the younger generation has over the older generation is you guys are more aware than the baby boomers. You guys know you're being screwed. This is not news to you guys. The baby boomers are still over here thinking their 401k and IRAs are safe, when they have no idea that this has been going on the whole time by Wall street, the Fed, the Fed and the US Treasury. So that's why I write and I speak and I do what I do. If you're going to be rich, you got to get out of this thinking here. Job security. Oh, I have a little bitcoin business. I have a pizza shop and all this. You're not going to make it with that mindset. You're not. It's on this side. And that's why the Rich Dad Company was formed, to teach people on this side here. So a little while, I'll go into what this site is. It's very different. On this site, B stands for brand. Rich dad is a brand. It's worth millions. So what is my net worth? It's not bitcoin. It's what is the brand Rich dad worth in the world marketplace? All my books and things are sold throughout the world. Our games are sold throughout the world. Rich dad is a brand. If you ask Warren Buffett what he invests in. Warren Buffett only invests in brands when he invested in gold for a short time. He invested in Barrick and Newmont Gold. He invested in brands. Nobody's going to invest in here because you're too small. So your job is start opening up your mind and ask yourself, how do I get onto this side here? So let me give you the tax consequences These guys throughout the world pay 40%. These guys 60%, these guys 20%, these guys zero. Because we're smart, we have financial education. If you're paying taxes, you're not that smart. Every time you sell bitcoin, you're going into a capital gains tax. I wouldn't ever do that. But by having financial education, I can make money and not pay taxes. But that's the difference between this side and this side. Now the bad news is you're going to have to take care of these guys. That's the problem. Please start thinking over here. Just because you have. Just because you have 100 million in Bitcoin doesn't mean you're rich. You have 100 million in Bitcoin. There's so much money to be made. But you have to shift your thinking over to this side. So let me go back again about investing. First book was Rich Dad, Poor Dad. It's this here. You have to know the difference between income statements, balance sheet, statements of cash flow. That's very fundamentally education. Next is cash flow, quadrant, ESB and the I. And most of you are raised by your mothers and daddies who are E's and S's. Or you go to school and you're taught by E's and S's. This is my poor dad site. This is my rich dad site. It's not easy. Most of you can't do it. But if you're smart enough and you're determined enough, you can get there. Especially if you've made a lot of money in bitcoin, you can convert it onto this side, hopefully. And once again, this is not 401k ETF. Save money, bonds or stocks. This is an inside deal. I only do inside deals. I structure deals. I put deals together. Taking three companies public. I don't touch that garbage called stocks, bonds, mutual funds, ETFs. Most people should. And again, Dave Ramsey always says, live debt free. And for most people they should. But the reason I don't need bitcoin or gold or silver is because I understand monetary policy. And in 1971, the US dollar became debt. So I simply borrow money to buy real estate. The government and the Fed will give me as much money as I want to buy real estate, which pumps a lot of money into my pocket. Here I pay no taxes because the money is debt. I want you to understand that it's debt. So I pay no taxes. The money comes up here. Reason it's tax free is because government likes real estate. The tax law lets me depreciate the property. The money comes in here for free. So I'm buying my gold, silver and bitcoin for free. That's what real investors do.
- [29:47]
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- [30:56]
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- [31:59]
Robert Kiyosaki
So that's on this side here. But this here, this is the bi triangle. It's made out of eight pieces. First is the mission Team leadership product, legal systems, communication, cash flow. When I'm like when I structured my gold mine deal, boom, boom, boom, boom boom. I just did a green new deal. Again, it was mission team, leadership, product, legal system. I don't touch stocks, bonds, mutual funds, ETFs. Maybe you guys should. But I won't touch them. I don't have to. So on this side here, this is product. So if you're looking at this here, this is a product. I spent most of my life building products. Fred. Rich dad, poor dad. My first product was nylon wallets. I made surfer wallets. I went to rock bands. I made hats and all this. Designing products, you've got to have it legal. It's going to be patented or protected. Then we have to have the systems of sale. For example, I just looked at a water deal the other day. So I understood the product, I understood the legal on the water deal. It's bottled water. But their system sucked. They had no distribution throughout the world and systems are very, very expensive. So I backed out of the water deal because the systems were not good. The communication sucks. They didn't have any sales or marketing. One of the beauty of YouTube and this medium, social media is communications is really cheap. You know, when I was starting out with a nylon wallet business, I had to fly from Hawaii to New York to go onto a radio station to try and hopefully get the promo up. My little wallets. Or I had to buy advertising space and magazines and stuff like this and surfer magazines, running magazines. And this is where cash flow. I want you to notice something really quickly here. The better your communications, the better your cash flow. So when I meet people who have no income, it's because our communications suck. So that's a way of saying, let me say it again. If you can't sell, you have no income. So the reason so many school teachers or people in the Fed. I think The Fed has 780 PhDs. They're all like, my poor dad. That's why the Fed is broke. They're all poor people who have no idea how to make money. So when I got out of the Marine Corps, I flew for six years. My first job was to learn how to sell. That's how I went to work for Xerox so I could learn to sell. I stayed at Xerox for four years until I became number one in sales. My best friend became number one in Xerox for another division. He and I started off as salesmen. When I was in the papers years and years ago, the New York Times said, oh, what does Kiyosaki know? He's just a salesman. And what happens is the academics, guys like my poor dad, they think salesmen suck because they're academics. They're academic elites. Look, if you can't sell, you're not going to be rich. So I'll say it again. Every time I meet a company that's going broke either the product sucks. They don't have legal protection on it, their systems aren't in place and they can't sell. And then they have no money. So let me say it another way. This here is what we're taught in military school. First word I learned, I went to school in New York, the US Merchant Marine Academy. First word we were taught was mission. What is the mission? What is the mission? When I joined the Marine Corps, what is the mission? Who is your team? Who is your leader? So again, let me explain why I can talk to young guys here. As I studied this book here, the Grunge of Giants Gross. Universal Cash Heist, how the Fed Rips Us off. The Creature from Jekyll. How the Fed was created in 1913. And then this book here, Critical Path by Buckminster Fuller. The way the current monetary system works here, is this the only way money can be created? This is after 1971. Money has to be borrowed. Let me say it again. The current system of money from the Fed and the treasury, the only way money comes into existence is you have to borrow money. The Fed prints all this money. Just print, print, print, print. The only people that get the money are people like me, people on the B and the I side who can borrow millions of dollars. So now when Dave Ramsey says live debt free, that's good advice for these guys here. But on this side, the Fed loves us. The federal. The system of money today needs the banking system to give money to me and give credit cards and student loans to these guys here. The system is broken. It's maxed out. Our debt to GDP is too high. You know, in 1980, the United States was 30% debt to GDP. Today it's 130% jet debt to GDP. America is bankrupt. We're bankrupt. So that's why gold, silver, bitcoin, in my opinion, are the future. The most important piece of real estate between this year and this year. And that's why the Rich Dad Company was created. What I teach you, to be on this side, not this side. You want to be on this side? Do what your mommy and daddy told you to do. Go to school, get a job, work hard, save money, get out of debt and die. Thank you very much.
- [37:38]
Rich Dad Media Announcer
This podcast is a presentation of Rich Dad Media Network.
- [37:44]
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- [38:14]
Ryan Reynolds (Mint Mobile)
Hey, Ryan Reynolds here from Mint Mobile. Now I don't know if you've heard, but Mint's Premium Wireless is $15 a month. But I'd like to offer one other perk. We have no stores. That means no small talk.
- [38:28]
Robert Kiyosaki
Crazy weather we're having.
- [38:30]
Ryan Reynolds (Mint Mobile)
No it's not. It's just weather. It is an introvert's dream. Give it a try@mintmobile.com Switch upfront payment.
- [38:37]
Rich Dad Media Announcer
Of $45 per three month plan $15 per month equivalent required. New customer offer first three months only, then full price plan options available, taxes and fees extra. See mintmobile.com.