The Iced Coffee Hour: "This ALWAYS Happens Before A Total Market Collapse"

Guest: Robert Kiyosaki

Hosts: Graham Stephan, Jack Selby

Air Date: October 6, 2025

EPISODE OVERVIEW

This episode features renowned author, entrepreneur, and financial educator Robert Kiyosaki (author of "Rich Dad, Poor Dad") in a candid, sharply opinionated conversation with Graham Stephan and Jack Selby. The heart of the discussion is Kiyosaki’s warning about cycles of monetary debasement, government spending, and looming market collapses—a theme he ties into his core philosophies: financial literacy, the dangers of fiat currency, the advantages of real assets, and why so many people stay poor. Throughout, Kiyosaki deconstructs conventional wisdom about saving, debt, and investing, drawing from historical events, personal anecdotes, and even military life lessons.

KEY DISCUSSION POINTS & INSIGHTS

1. Market Collapse & Money Printing

• Nature of Market Cycles:
  Kiyosaki emphasizes that market crashes are not freak occurrences but cyclical events tied to systemic issues, primarily irresponsible money printing and excessive debt.

  "The United States can pay any debt because we can always print money. If you print bonds in your own currency, what happens to the currency? When the currency collapses, the economy collapses. You have to be ready." (Robert, 00:31)

• Historical Parallels:
  He draws a parallel between the US and Zimbabwe/Rhodesia, warning of similar fates if governments continue excessive money printing:

  "America loses $2 trillion a year... The biggest financial disaster in history took place [in Rhodesia] because they kept printing money. The U.S. dollar's next." (Robert, 01:23; 21:39; 75:12)

2. Wealth Building Strategy: Assets, Not Wages

• Investing Philosophy:
  Kiyosaki’s central theme is to acquire cash-flowing assets (real estate, oil wells, gold, silver, crypto) rather than rely on wages or fiat savings.

  "The rich don't work for money. The rich work to acquire assets... puts money in your pocket whether you work or not." (Robert, 52:12)

• Best Investment:

  "I wrote a book, sold 45 million copies of it." (Robert, 00:55; 29:15)

• On Stock Market & 401k:

  "The best advice for the average person is don't be average. The stock market and the 401k is set up for losers." (Robert, 12:08)

• Why Not Stocks?

  "Control. I'm an entrepreneur, not a fricking loser. I control the oil well, I control the apartment houses, I control the hotels." (Robert, 12:24)

3. Debt: Good vs Bad and How to Leverage

• Massive Leverage:
  Kiyosaki reveals that he carries $1-2 billion in debt, achieved via real estate and other asset-backed lending.

  "One billion? Two?" (Robert, 02:54)

• Debt Strategy:

  "Debt that makes you rich and debt that makes you poor." (Robert, 07:15)
  "You owe the bank $20 million and you can't pay it back. You got a problem. But you owe the bank a billion dollars and you can't pay it back. Is there a problem?" (Robert, 03:03)

• Learning the Banker’s Game:

  "Business is a team sport. My accountant, my attorney, my banker, they're on my team." (Robert, 04:35)

• Critique of Dave Ramsey:

  "If you stop borrowing money, the US economy stops... It's actually unpatriotic. I borrow money as a patriot because when I borrow money, I create money." (Robert, 61:45)

4. Financial Education & Critique of the School System

• Lack of Real-World Education:
  Kiyosaki maintains the school system is fundamentally Marxist, not teaching kids about money or capitalism:

  "Our school system is Marxist, if you can understand that... most schoolteachers are labor union people." (Robert, 15:19)

• Definition of Assets & Liabilities:

  "Assets are defined by cash flow. If cash is flowing into you, it's an asset. If cash is flowing out, it's a liability." (Robert, 05:19)

• His Curriculum:

  "I already did. That's called Rich Dad, Poor Dad." (Robert, 19:34)

5. Mindset: Hard Work vs Laziness, Risk & Resilience

• On Mindset:
  Repeatedly, Kiyosaki returns to the theme that laziness or lack of interest in learning is the core reason most people remain poor.

  "95%... lazy people." (Robert, 28:22)

  His Uber anecdote illustrates his frustration:

  “He said, do you think I just get rich? Yeah, yeah, yeah, yeah. I said, look, I study all the time. Do you study? He goes, no... you're a poor working class guy." (Robert, 09:04)

• On Failure:

  "Losing is part of winning. The reason school teachers are poor is we don't learn unless you make mistakes." (Robert, 30:01)

• On Honesty and Learning:

  "We all make mistakes, but don't lie about it... The worst thing you can do is become a liar." (Robert, 34:52; 41:49)

6. Crash Opportunities & Safe Havens

• Why Crashes Are Preferred:

  "I love crashes. When the markets crash, that's when I get rich. Everything goes on sale." (Robert, 00:17; 42:48)

• Inflation Hedge:

  "I only save gold and silver and bitcoin and ethereum. I don’t save this stuff [referring to fiat]. So in a crash... they print more money, those go up in value." (Robert, 45:14)

• Assets He Prefers:
  Real estate, oil wells, gold, silver, bitcoin, and billboards (for bonus depreciation) (24:39; 51:31; 26:39; 29:25).

7. Views on Popular Investment Advice (Buffett, Index Funds)

• Critique of Warren Buffett:

  "Warren Buffett, what's for average people? Smart man... But he owns an insurance company—that’s massive leverage." (Robert, 53:12; 54:13)

• Index Funds/ETFs:

  "Good for losers, my opinion... It's not exciting. It's boring as..." (Robert, 57:11; 57:22)

8. Purpose, Legacy, and Spiritual Influences

• Guiding Philosophy:
  Buckminster Fuller was highly influential—he challenged Kiyosaki to ask, "What does God want done?"

  "The lesson I learned, choose your teachers wisely… What does God want done? Not what do you want to do?" (Robert, 79:04)

• Legacy:

  "Not much. When I'm dead, that's it... That's a project I'm working on now." (Robert, 84:37)

NOTABLE QUOTES & MEMORABLE MOMENTS

• On the Game of Wealth:

  "It's the game I play. Monopoly, four greenhouses, red hotel oil wells. There's so many options to get rich, but you gotta find the one that works for you." (Robert, 01:05)

• On Saving Money:

  "Savers are losers." (Robert, 21:19)

• On Monetary Collapse:

  “There's no difference between a Zim dollar and a US dollar. So I warn people all the time, don't save this, save silver. Bitcoin, ethereum. Go for something that's not printed by the US Government.” (Robert, 21:39)

• On Human Nature & Mistakes:

  "We make mistakes, so God does... The way humans were designed to learn is by making mistakes. So I'm an entrepreneur. I made a lot of mistakes, but that's why I'm rich today. And those Uber drivers didn't want to go through that process." (Robert, 40:08)

• On Asset vs. Liability:

  "Assets are defined by cash flow. If cash is flowing into you, it's an asset. If cash is flowing out, it's a liability. It's called financial literacy." (Robert, 05:19)

• On Network Marketing as a First Step:

  "I like network marketing. I tell people to join network marketing... because you learn to take rejection." (Robert, 76:34)

• On Money and Happiness:

  "Do you think money buys happiness?... I do." (Robert, 67:33)

TIMESTAMPED SEGMENT GUIDE

• 00:01—01:43: Robert’s views on nature, money printing, why he loves market crashes
• 02:10: How financial philosophy changed the host's life
• 02:54: Kiyosaki’s personal use of massive debt
• 03:47: The value of understanding the banker’s mindset
• 07:15: Definition of “good debt” vs “bad debt”
• 12:08: Advice: “Don’t be average.” Why 401k and stocks aren’t for him
• 15:19: Critique of financial illiteracy in schools (“school system is Marxist”)
• 19:34: His curriculum: “That’s called Rich Dad, Poor Dad.”
• 21:39: Gold, silver, oil wells vs. fiat savings, and lessons from Zimbabwe
• 26:39/29:12: Real estate, oil, gold as primary wealth vehicles; best and worst investments
• 30:01/34:52: Lessons on failure, making mistakes, and honesty
• 53:12: Critique of Warren Buffett’s stance on leverage
• 57:11–58:14: Index funds/ETFs for “losers,” property management debate
• 61:45: Kiyosaki on Dave Ramsey and debt
• 67:33: Does money buy happiness?
• 70:12: Best use of money: “Education.”
• 75:12: Why young people must study the lessons of history (Zimbabwe, US debt)
• 76:34: What to do if starting from zero: learn selling, take rejection
• 79:04: The heavy influence of Buckminster Fuller; lesson: “What does God want done?”

FINAL TAKEAWAYS

• Kiyosaki’s core warning is clear: the US is repeating monetary history, creating fertile ground for collapse. He advocates for buying real assets—not holding or saving fiat—and using smart leverage.
• Personal responsibility and continuous education are essential. The “game” of wealth rewards those who think for themselves, build teams, and persist through failure.
• Reject social programming: Don’t unquestioningly accept what is taught; "choose your teachers wisely."
• His ultimate measure of success: not material wealth, but pursuing what aligns with one’s purpose and responding to, “What does God want done?”

Mentioned Resources & People

• Books/Authors: Rich Dad, Poor Dad; Capitalist Manifesto (Kiyosaki), The Big Print (Lawrence Lepard), The Communist Manifesto, Buckminster Fuller
• People: Warren Buffett, Dave Ramsey, Kenny McElroy, Tom Wheelwright, Sahil Bloom, Donald Trump (and family), Buckminster Fuller, Jordan Peterson

For deeper investing and financial insights, or for those seeking practical lessons about business, money, and life purpose, this is a high-energy, no-holds-barred episode that distills Robert Kiyosaki’s unique worldview.