(upbeat music) - [Announcer] This is
"The Rich Dad Radio Show". The good news and bad news about money. Here's Robert Kiyosaki. - Well, hello. Hello I'm Robert Kiyosaki,
"The Rich Dad Radio Show", the good news and bad news. And today, about Bitcoin. That's one of my favorite subjects. It's the hottest subject of all. And I have my go-to guy. As you know, Bitcoin is for young guys and I don't know what's for old guys, old guys are 401ks and they're screwed. But anyway. The person I turn to when I need information
is Anthony Pompliano and his pomp is a, he's the
headliner of "The Pomp Podcast". So his website is anthonypompliano.com. So welcome to the show Anthony 'cause you guys are
the subject of the day. - Absolutely. Thanks
so much for having me. I'm enjoying it. It's fun still, which is all that matters. - That's exciting. That's how you learn. So, as we were talking about it, and I did a podcast which pissed off a lot of the, crypto guys. I said, you crypto guys are
just peeing in the ocean. (laughing) When you look at the
size of how big money is, it's like the ocean and you crypto guys are
standing there peeing and now you're pissing everybody
off, which is their thing. And crypto is the future, but in the meantime, you're
just peeing in the ocean. And the ocean of money is massive. Macro, macro, macro, it's huge. And just as fake as they come. So the reason I support
Bitcoin, is because it's real. And the reason I don't like
stocks, bonds, mutual funds and all that, is it's fake. And the dollar is fake. But, I heard that was
it crypto took a dive from 60,000 down to,
well, I'll just say it, I'm just waiting to get to 27 and then I'm going up the truck again. And they go, they don't know what to say and said, well, why would
you keep investing in it? I said, because you guys are the future but in the meantime, you're
just peeing in the ocean. I mean that's what 21 million Bitcoins, trying to fill up the ocean? - What is it? 90 trillion or so? I think it's kind of global money supply, somewhere in that range. 90 to 100 trillion depending
on how you count it. And, a trillion dollars. - Yeah. It's impossible to count. Because what happened now, I'll give a quick history. This is the 50th anniversary
of the fake dollar. So 1971, Nixon took the
dollar off the gold standard, and that's when I became a gold bug. I said, well, at least gold
is more real than the dollar. The same as I was, I've
been in silver since '64. So when I saw Bitcoin come
along, I didn't understand it. And by the time it hit
20,000 I was getting excited, but being an old guy, I
always know it retraces. So I was just waiting for it
to retrace, retrace to seven. I think, was it go down
to three or something, but by the time I woke up again, awoke, it was at seven and then I said, hit nine, I said, I better back up the truck now, because why won't you chase
some pick on the way up? You want it to come back, retrace, and then go back into it. But I want, the reason I wanna
talk to you is because it's, what's going on, your bigger picture, and I'm very, very bullish on Bitcoin, the whole crypto world. But in the meantime, the problem most people
are gonna get screwed, as you know, Antony, all they
wanna do is get rich quick. - [Anthony] Of course. - They don't wanna study this stuff. And that's why they'll be
the biggest losers around. - Look, if you look at
the recent price draw down like you just described, right? So, in 2017, we went
from 1,000 to $20,000. It took about a year
to draw down to 3,200. That was the bottom of
this past bear market. - Oh, don't make me feel terrible. (laughing) - And so, from the 3,200, basically between 2019,
2020, and into 2021, it then peaked again over 60,000 and then recently fell again to, somewhere between 28,000 and 30,000 was kind of the most recent low. And I think to your point, people see this high degree of volatility that scares the hell out of them. But one of the beauties of Bitcoin being this
decentralized digital open system, is that you can actually
go look on the blockchain, and you can see exactly who's buying and who's selling, right? It's an open, transparent ledger. And so, when you go, and you look at those on chain
metrics or on the blockchain, what you find is that entire drop, from 60 down to 30, it was all new investors, new
people in the market, right? And you can tell that by how
long have they been holding on to the Bitcoin, that they were selling. And so, when you see that all
the new people are selling, you'd ask yourself, well, who's buying it? It's all the people who've been around for a really long time. - [Robert] Right.
- Right? They're saying, hey, if you just got here, and all of a sudden, a little
bit of volatility spooks you, I'll surely buy up your
Bitcoin at a lower price. Right? And so what you
have is you just have weak hands selling to strong hands, or kind of new people
selling to old people. And so the people who've
been around a long time this is nothing new to them. They can't believe they
crashed to $30,000. The fact Bitcoin crashes to
30,000, is music to their ears. - Well, that's why I'm a little upset because it didn't hit
my strike price at 27. And I was just sitting
there waiting, saying, come on, come on, go lower. And all the guys who are
hoping it goes higher, are bailing out. I thought it was pretty funny personally. - [Anthony] Of course.
- It's called a market. Things go up and things come down. I mean, that's the market
bulls and bears, right? That's all it is. - Yeah. And I think the other thing about Bitcoin that people should know, is, I always say that it's the last
remaining truly free market. Right? And so, what I mean by that is, you've done a great job over
the years explaining to people, kind of how manipulated the dollar is, how manipulated the stock
market is, et cetera. But it's not just the
macro manipulation, right? It's not just interest rates. It's not just quantitative easing. There's also things
that are built into say, the stock market where, if
the stock market goes down, seven, 8% in a single day,
they literally call time out and say, hey, whoa, 15
minute circuit breaker. If it goes down again, you know, 11, 12%, hey, circuit breaker again. And then if it goes down
20% in a single day, they literally shut off the market and they all go home for the day. That happens all the time in Bitcoin. - I want everybody to listen to what Anthony is saying here 'cause this is a very big difference between the stock market, real
estate market and Bitcoin. 'Cause when I was a kid,
nobody was in the stock market. So between like '61 to '81, the old guys like me and the baby boomers, they wouldn't go into the stock market, because they were in the bond market. The bonds were safer. So what they do, they create
this thing called the 401k and the IRA to kind of
force the baby boomers into the stock market. And who controls the stock market, well, the central banks, the
treasury and wall street. And so, all these baby
boomers have been set up. I know that 'cause that's what I study. So as you know, and I know, they're gonna pull the
rug out from under them. And that's gonna be the biggest, baby boomers have been the
luckiest generation in history. Mandated they didn't do
jack and they got rich. They put money in the stock
market, they got rich. Then what happened is '87,
the stock market crashes. So what Anthony's talking about here, is 'cause Greenspan came in, and says, we can't let
the baby boomers get out, because then we all get poor. So the idiot baby boomer stayed in and it was called the
Greenspan pullout or the PPP the Plunge Protection team. What Anthony is saying there,
they prop the stock market up, to keep the baby boomers in. And that that's the
difference between Bitcoin, there's nobody holding it up. Now that's good or bad. But to me, it's good because
you've got to be smarter. And all you losers out there, who just wanna get rich quick, you're gonna get pounded. Stay in the stock market,
stay with that 401k. And then you get pounded
when it all comes down. They can't stop it. - Look, one of the most
fascinating things to me, is, you take a Warren Buffet,
which I think a lot of people, especially baby boomer
generation and on down, really respect somebody like
a Warren Buffett, right? He's built an immense
amount of personal wealth. He's got these very
charismatic kind of letters that he writes, that people
are really attracted to, when he does interviews, right? He's very likable as an individual. And also shares awesome
timeless financial advice. And so, when people see somebody like him and they ask him what to do about Bitcoin, everything from it's rat poison, to it's harvesting dead baby brains, and what are the other kind
of ridiculous thing he says. But actually what you find
is if you can separate, kind of his personal beliefs on Bitcoin, from the timeless financial principles that he's preached now for decades, what you find is the people in Bitcoin who follow those same timeless principles, dollar cost averaging, long-term holding and not just trying to
day trade or sell, right? Trying to find something
that has a macro tailwind or an industry type bet to it. All of those principles apply here, and actually the people
who are doing the best, are buffeting. - As Buffet said, buy low. - Buy low is really good advice. - Buy low and hang on forever. It's just, when do you sell? He never sells. I own Bitcoin, I'm never selling, I own real estate, I never sell. I own businesses, I never sell. Because if you sell, you
have a tax consequence. - [Anthony] Of course.
- Do you what I mean? That's macro financial education. And so the people that got hammered here, are exactly as you said,
there are the FOMO, Fear Of Missing Out, they jump in, thing
goes up and we get rich. - Yeah, and here's the crazy part, right? Is that if you have short-term,
kind of thought process, if you're trying to
optimize for quote unquote, getting rich quick, if you aren't intelligent
about risk management, all that stuff, then you become a panic
seller when the price drops. And that's exactly what
we just saw, right? Was people who were using leverage, they were trying to get
rich quick, whatever. When price drops aggressively, they become the panic sellers. And the difference between this market and the traditional stock market, is there's no circuit breakers, there is no hours of operations. There's no Friday.
- There's no PPP. - Yeah. There's no Friday at 4:00 PM. Everyone goes home and we'll come back to play the game on Monday, right? It's 24/7, 365. There's no Plunge Protection team, right? That's gonna step in and
buy, kind of the market. And so, what you get, is you
get high degrees of volatility but I always joke, the people
who are yelling and screaming about the volatility, right? Usually the anti Bitcoin crowd. They never seem to bring up the volatility on days like today, when Bitcoin's up 16%
in the last 24 hours. - That's bad news to me, that's bad news. - They only bring up volatility
when the price goes down. Right? But we have to remember
volatility works both ways. It works on the way up, and it works on the way down. Volatility is only bad,
when it goes against you. So if you're short and the
price goes up, that's bad news. If you're long and the price
goes down, that's bad news. But I think that ultimately
what we're seeing is that, Bitcoiners especially the ones who have really spent the
time learning about this, they want the price to go down, right? So they can buy more of it. - Well, it's no difference like when I was living in Portland, the Arizona real estate market crashed. And people are moving out,
they're like I would never back, I used to live in California, but the reason I'd never
moved there again, is taxes, 'cause they tax worldwide income. So I had never moved to Arizona. If you are, let's say a
school teacher in California, it doesn't affect you. But if you are a global entrepreneur, California affects you. And that's why it's called
macro financial education. And most guys are just
peeing in the ocean, trying to figure out
how they get rich quick. So, I mean, I'm very, very
optimistic about Bitcoin, because of the blockchain technology, the lack of manipulation. But I think the most
important is the same reason I own gold and silver, can't mess with it. I don't own gold and silver ETFs. You know why? 'Cause there's no gold reserve over there. (Robert laughing) - Yeah. I think the big
thing about what we're seeing in these markets is,
everyone always talks about, there's some new technology,
there's some new coin, there's some new thing that, is more innovative, is faster,
is cheaper, is whatever. And they wanna have a
technological argument. But what you just described is, Bitcoin's core value proposition. It is decentralized. It's outside the system
and nobody controls it, nobody can create more of it, and that is the number
one value proposition, that I think people are seeking right now. Is they are watching, central
banks around the world, print trillions of dollars. They're watching authoritarian regimes around the world become
more and more overreaching, increased financial surveillance and kind of just do bad things. And what they're looking
for, is they're looking for an asset, that isn't even so
much about, quote, unquote, getting rich, it's actually about protecting the wealth that you already have. It's how do I prevent my wealth from being degraded away by central banks printing all that money, or from authoritarian regimes trying to actually confiscate it from. And Bitcoin is the ultimate solution. - Correct. Well, I don't
know if it's ultimate, but, it's a solution. But I think the biggest
thing that you said, that it goes right over
the head of most people, is you and I both served in the military, I went to military school. I studied Marx, Lenon,
Stalin and those guys. When you use the words, de-centralized I get really happy because centralized means communist. And when you say centralized,
the central banks, that's communism. And when Janet Yellen
went from the central bank to the treasury, that was super communism. Because they now control
the monetary system. And the reason you guys,
I mean that you guys, all of us now who are into the crypto, we're peeing into the ocean, that's controlled by a bunch
of communists, Janet Yellen and this guy Powell and the
US end up in the wall street. I said that, I don't
wanna play their games. I mean, you can, if I had bought Amazon, I'd be rich. I just don't want to play their game. Just like, you know, I don't, I don't buy cigarette stocks 'cause my father died of cancer. He smoked every day. So it's just personal, if somebody said, we're gonna buy some cigarettes stocks, I say no, I don't touch stocks anyway. I don't touch gold ETFs,
because they're fake. There's nothing there. There's no silver. There's no silver in the silver ETFs, there's gonna be this crash
so big in that market, and that's what the Reddit crowd proved when they tried to short
squeeze, GameStop and silver. But the guys don't understand the game and that's what you're explaining, is when it's decentralized, you're peeing in the ocean,
controlled by the Fed. I love it. - Yeah. And look, I also think that
there's this element of, as people start to
understand decentralization and centralization, this
theme is going to continue over the next decade or so, right? When you look at things like
the content of platforms, when you look at things like the media, when you look at things
like financial markets, when you look at all sorts
of aspects of our life, everything is centralized, right? If you remember, the
United States of America, was decentralized at one point. There was 50 states, and those 50 states had state governments, and there was competition
among the state governments, in order to provide the best environment, for not only citizens, but also entrepreneurs,
investors et cetera. - But Anthony, that's
what made us a Republic. - Of course.
- It was decentralized. - Of course. - So that's why we've
got, let me take a break, but I want you guys look at
the macro, look at the macro. What are guys like Anthony and all the rest of the Bitcoiners doing, they're anti communists, centralized. And if you're pro
communist, vote for Biden, Kamala our future president, and Nancy Pelosi, they're communists. They want, they're totalitarians. They want to tell you
what to eat, smoke, drink and when to wear your mask. They wanna control everything about you. So that's why I love Bitcoin. We'll be right back. Welcome back. Robert Kiyosaki,
"The Rich Dad Radio Show". "The good news and bad news about money". Today we're talking about
Bitcoin and cryptocurrency. Once again, you can listen to
"The Rich Dad Radio Program", anytime, anywhere, on
iTunes, Android or YouTube. And please leave a review. The reason we do that, is
because, I love this format, you can listen to it
again, and you get smarter, but most importantly, if you
have a friend, family member or business associate who is an idiot, have them listen to this
program and discuss it. 'Cause especially if they're
turned off about Bitcoin, I'm not saying buy Bitcoin, we're just saying get educated on it. So, Anthony, what advice
would you have for the FNG? You know, the F-ing new guy or girl, coming into the crypto market? What advice do you have? That's marine code talk. You don't wanna be the FNG for too long. (laughing) - I think the big things here are again, timeless principles, right? One is, you gotta make
sure that you get educated. So you wanna make sure that, you understand what you're buying. - How do you do that? I mean, there's so much BS
out, like this China thing, I just can't believe, well,
it crashed because of China. China has been warning against Bitcoin since 2013, 2014, '15 and then they warned
against Ethereum in 2016. They will always warn you against Bitcoin. Oh, that's caused, I mean,
how do you get educated? - I think, there's two
different approaches, right? And you should do both
of them at the same time. One is, there's some great,
great resources out there. You should start with
the Bitcoin white paper, it's nine pages, sit down, it's a little technical,
but it'll at least give you an understanding kind of,
the original vision for this. The second thing is, there's
a ton of written resources, videos on YouTube, on
podcasts, things like that. But really it's just find the people who have acquired large
audiences in the space. And the reason why they've
acquired large audiences for the most part are
people find their content, kind of signaling all of the noise, right? And so, I could sit here and I could list 30, 40 different people. But if you just get on like a Twitter and you kind of search around,
you'll find those folks. If you go on YouTube,
you'll find those folks. - Who do you recommend? I mean, who do you press
'cause well, I listen to, other people listen to me. Who do you listen to? Who do you think is credible out there? - Yeah. I mean, literally
there's so many people that I can't name them all, but I think obviously Michael Saylor, who's done a great job, he's the CEO of MicroStrategy, on top of mind right now
with all the China stuff, is Nick Carter, who's got a VC fund and also some of the co-founders of Coin Metrics. He's done a great job. I think Robert Breedlove,
who you've had on before, he does a fantastic job. There's a woman, Meltem Demirors, who does a great job as well. There's a gentleman named Isaiah Jackson, who wrote a book called
"Bitcoin in Black America", who I think does a great job. And so, you can just kind
of go down the line, right? Person, after person, after person. There's a gentleman, Jason Williams, who wrote a book about Bitcoin. And what you find is in
with all these people, they all come at it from
different experiences. Right? They've all had different kind
of life journeys to Bitcoin. And so when you put them
together, kind of in totality, what you get is an
incredible understanding, of Bitcoin, right? If you take, there's a
guy named Marty Bent, who has been writing about
Bitcoin for a while now, but now he's involved
in capturing flare gas from oil and gas companies and turning it into Bitcoin mining. We've got somebody like a
Parker Lewis who's really into, kind of the key management for folks over a long period of time. It's a whole list. - Why did you switch to Bitcoin? What turns you on? What specifically, what caught your eye? 'Cause, once it catches your
eye, you start studying more. But what caught your eye initially? - It's what Marty always says. My buddy Marty, he says,
people come for the money, but they stay for the money. And what that means is they
come because there's profits, there's volatility, right? There's excitement. And they feel like, well, what
are all these people doing? And then once they start
to understand it, they say, wait a second, the dollar
and other FIAT currencies are heavily manipulated. This is not manipulated
in the same way, right? It's outside of the system, it's kind of a digital sound money. I'm gonna hold this because
it's gonna protect my wealth. It's gonna actually gain
purchasing power over time. - And that's why I pick
on the baby boomers because they were the luckiest, they were born at the
right time, you know? And, but the trouble is,
they're not well educated. And the thing I like
about the millennials, is you guys are at least
aware you are being screwed. (Robert laughing) - Well, I think what it is is, we just have the
information available to us. - You have an open mind.
- We have open minds. But also we've grown up in an age, right? I always say, every baby boomer I know, grew up without the internet at first. And so what they were
told was the truth, right? My entire generation has
grown up with the internet. And so, every time
somebody told us something, we could go to the super computer and say, hey, is this really true? What you realize was a lot
of the news was fake, right? On both sides of every story. And so, what you started
to do was you started to question all of the
mainstream narratives and what that led you
to, was this belief that, if I truly want to be free, if I truly wanna do what is best for me, I have to be an independent thinker. I have to go and be
intellectually curious. I gotta go get my own information,
to make my own decisions. And that's not easy for people to do if that's not the
environment they grew up in. - Right. And that's why
I'm not saying buy Bitcoin. I'm just saying, listen
to credible people. And I love what you're saying, but, I just can't believe how much information, good and bad, is available
on things like YouTube and all this other stuff which I don't really know much about. I just wanna say, I hope
you guys like taking care of your parents. (Robert laughing) Because, they didn't
have access to all this. And they're still hoping social security and Medicare will be
there when they need it, because America is, we're broke. When I came out of the military we we're at about 30% debt to GDP. So we could've, that's
like, you could make, you make $100,000, but you pay 30,000, yeah, 30,000 to the bank. Today, it's 140% debt to GDP. That means, you're making $100,000, but you owe 140,000 every month. And America is broke and the baby boomers are
still living in that time, when we were at 30% debt to GDP. So it's not the same world anymore, they'd been lied to, but they're not even aware
they're being lied to and they think the Bitcoin guys are crazy or anything new that shakes our 401k, dreamland, their fantasy land there. So that's why I highly
recommend people listen to, quick question, what does that guy say about blacks and Bitcoin? What's the difference? - Well, I think the whole thing that Isaiah Jackson says is, look, the African-American community
has been drastically, discriminated against in the
traditional financial system. And there's study, after study, that shows this type of stuff. And so, what ends up happening is, when you move to a digital
decentralized world, what you get is it doesn't
matter who you are, because nobody knows in some cases, they don't know what school you went to, they don't know how wealthy you are, they don't know who you know, they don't know the color
of your skin, your religion, your sex, any of that stuff. What they just know is, if you want a loan, give
me, $1 million of Bitcoin, and I'll give you $300,000 loan. It's much more of a kind of
a collateral based system. It's much more about kind of
put up not or shut up, right? It's not so much about who you know, or what your past experiences are. And so, I think that that's
a really interesting view of the world, right? It's saying, look, we're
gonna take back control. And it's for everybody
around the world saying, we're gonna take back control. We're gonna put a bank in our pocket. We're gonna have the access of all financial services
at our fingertips. And we don't need permission
from anyone, right? If I wanna send any sort of
monetary value to Robert, I don't need JP Morgan, Bank
of America, Wells Fargo, or anybody else to say, I can do that. All I need is for Robert to
give me his wallet address and I can do it. And all of a sudden what
happens is we're free. We are free of any corporate
middleman or any rent seeker, and we have the ability
to actually conduct financial services between ourselves, without the need for those
kind of third parties. And I think that's incredibly powerful as we continue moving forward. - Another question that
says, on a macro scale, like I say, every time
I talk to crypto guys, you guys are just peeing in the ocean and pissing everybody off. (laughing) but, it's a legitimate
peeing in the ocean. The other point of view is this, what most people don't understand about financial education, 'cause I, you know, I, in '71, I was in, I was coming on my way to Vietnam and that's when I kind of woke up. They were coming off the gold standard, the average guy had no
idea what that meant. And that's the problem. So the thing I know about this is, when they say quantitative easing, what you're talking
about Anthony, is this, the only people that get
the money are rich people. You see with quantitative easing, you must go through
with the banking system. So, I've been broke many times and when I had no money, the
banks closed the doors to you. So I understand, I don't think it's black, I think if you're financial illiterate, the banks will close the doors to you. So every time they print money, the money gets trapped in
what's called a monetary system, but only the rich get richer, and the poor and the
middle class get poorer, because, for temporarily there's inflation and the inflation is in the asset markets. So Bitcoin went up, real estate goes up, stock market goes up. But I feel for the guys
working in my yard, because they violate rich
dad's lesson number one, don't work for money. You've gotta work for assets. So I think this is the next thing I was gonna ask you a
question on, you see, 'cause, as long as you guys
are kind of pissing off the central banks here, right? And they keep printing money, guys like me get richer and richer. I know I just borrowed
another 160 million bucks. The average guy can't
even get a credit card, while they got a student
loan, that's all they can get. And that's why they get poor. Because of the school system. But if Bitcoin, you guys
keep pissing people off, and we go to Fedcoin, you know what's gonna happen? - [Anthony] What's that? - Hyperinflation. Because they're gonna give money that's complete communism at that point, they're gonna give money
directly to the people, via UBI, Universal Basic Income, MMT, it's called welfare, it's
also called social security, it's also called Medicare. But they're gonna, if they go to Fedcoin, like China's going to the China coin. If they go to that, that's
why you're gonna wish you had some Bitcoin,
gold, silver and bullets, because there will be civil unrest, they're gonna steal our wealth. But they're gonna pump the
money directly into the people. And that's what they did
during the Weimar Republic which brought rise to Adolf Hitler. And Kamala and Adolph
have the same values, it's reparations. And that's why Bitcoin guys, I'm riding with you, because
you are pissing everybody off. But if you go too far,
and they go to a Fedcoin, we're all going to get richer,
but there will be more. - There's no doubt in my mind they're gonna launch a
digital dollar, right? Or a Fedcoin. And what people need to
understand is two things, one, it is no different than
what the dollar is today. It's the same monetary policy just in a new technology format. And all that means, is now
they have more controls than they had previously, and the second thing is that
if they launch a Fedcoin, it is gonna force everyone
to get a digital wallet. And when they get everyone
on digital wallets, more and more capital is gonna flow, to the soundest hardest money. And so therefore what is
actually gonna happen is, when they launch Fed coin, they're gonna think that
it going to be a response to Bitcoin as a decentralized
digital currency but it's actually going
to accelerate the adoption of that digital decentralized currency, and I think they know that, I think that's why they're actually not being so aggressive with it, but what people are not ready for, is a world where the federal government, actually has more power
than they have now, over the monetary supply. So here's two ideas for you. The first is, China already
ran this experiment. What happens when the US says, hey, we're gonna give out
a $1,200 stimulus check. By the way, you have
seven days to spend it, if you don't spend it, it expires. Where you can actually put
expiration dates on the money, where you can tell people, we're gonna give you this stimulus check, but you can only spend
it in certain places. All of a sudden, you hand that to millions and millions
and millions of Americans, it's not so good. The second thing is, what
happens when they start to personalize monetary policy. They say, Robert, you know what? You've got lots of assets. You've got great income. We're actually going to allow you to experience higher levels of inflation. But you know what? That person that is down the street, they're gonna experience a
medium level of inflation. And we're gonna start personalizing
the level of inflation or the monetary policy that you have, because we can. Your music playlist is personalized, your Google Maps, your Uber and Lyft, your Google search results. Everything in your life that is on a keyboard is personalized. Why is the money not? It's because they previously haven't had the technological ability
to do it, but now they do. And so when you start
to think through this, and you say, wait a second, are they going to
personalize monetary policy? Are they gonna get more control? Are they gonna get more
surveillance capabilities? This is not gonna be a net positive for most people, it's actually
gonna be a net negative. And it's gonna push more and more people into this digital
decentralized world of Bitcoin. - Right. What Anthony is saying here, is the most important thing, they're gonna wipe out the bank. See right now, I have to go to let's
say Chase Manhattan, or, Wells Fargo to borrow money, to buy real estate. They go to a Fedcoin, they
don't need those bankers. Exactly what Anthony is saying, they're gonna pump it
straight into the economy. And as an old guy, what we know is called Gresham's law. Gresham's law says when bad
money enters the economy, which will be a Fedcoin, good money goes into hiding. And those of you who have
gold, silver, Bitcoin, Ethereum and all that right now, if they go to Fedcoin, they're gonna push value, exactly as Anthony
says, into gold, silver, Bitcoin, Ethereum and all that. It's Gresham's law. But they will cause hyperinflation. So right now, what the
government is afraid of, every time they have quantitative easing, the reason they do that is
because we're deflating. So they pump money in and there's a boost in the
economy for about two years. And then it deflates again. But the only people left with the money, are the guys who can borrow money like me. So that's why they
screw the working class. The guys working in my yard are screwed. The school teachers are screwed. They're working for money. And they got the money
in the stock market. So when they go to Fedcoin, it's gonna create hyperinflation
'cause it's Gresham's law, and then it's gonna drive
gold, silver, Bitcoin, to the moon. So that's why I listen to
what Anthony has to say because I don't like being screwed. So Anthony, thank you very, very much for being my teacher on all this stuff. I appreciate it. We embrace loving those guys. I just really enjoy listening
to the younger generation 'cause us old guys have had it too easy. Thank you very much, Anthony. - Absolutely. Thanks for having me. - Thank you. Bye. When we come back, with a final word from, for Rich Dad Radio. Thank you Anthony. Welcome back. Robert Kiyosaki,
"The Rich Dad Radio Show" the good news and bad news about money. Again, I wanna thank Anthony
Pompliano he's fantastic. He's one of the new generation coming up and what I say to the old
guys, the baby boomers, you better open your minds up, especially you Peter Schiff and Harry Dent and all my friends out
there who are gold bugs. You can still be a gold bug, but you don't have to
keep your mind closed. You old guys listen up, there's a whole new sheriff in
town and it's the young guys. So, I don't know where it's all gonna go, but I just know that printing
fake money, makes gold better, but that's not the only answer. So anyway, you can listen to "The
Rich Dad Radio Show", anytime, anywhere on iTunes,
Android, or our YouTube. And we archive all of our
programs at richdadradio.com. So you can listen to this again, 'cause if you listen to
this two or three times, you'll learn even more. And then most importantly,
have your friends, family and business associates,
listen to it and discuss it. When you discuss it, I don't,
it's good you don't agree. Like Peter Schiff's a
really good friend of mine, Harry Dent is a good friend of mine. I disagree with them constantly. It doesn't mean, that's how we learn. So what happened with
Anthony and Peter Schiff? - [Co-host] I saw over
the weekend, they kinda, they got in a pissing match over Bitcoin. Peter Schiff is not a fan of Bitcoin, Pomp is, obviously, and so, as, big. So, Pomp opened a pizza shop in New York, called Bitcoin pizza. And Schiff started shiting all over it. (laughing) I mean, I don't know the details and I know they're great friends,
so this is not, you know, this is nothing like we're
revealing any secrets or anything, but then Schiff, tweeted about him being
a pizza delivery boy, and I mean, it was pretty funny. So I love the banter back and forth, because like you said, when you have conversations or learn from people who
think differently than you, you actually learn more 'cause you can see both sides of the coin. So, I love that they
have that relationship. - That's like my doctor
said to me the other day. He said, I heard you are
yelling at Harry Dent about living in Puerto Rico. I said, yeah, I mean, if Harry
Dent opened his mind, see, Schiff and Dent and all
these other Maloney, they all live in Puerto Rico. They have to live there 183 days a year, just to not pay taxes. I mean, if you're a real estate guy, you don't have to pay taxes anyway, Trump and I are real estate guys. And then, I don't save money, I save gold, silver and Bitcoin, Ethereum and all that stuff. Well, you should save money and going well, you should, not me. So that was, who I think
the future is a combination of old guys and young guys, but the old guys, the baby boomers, are in serious, serious, trouble because social security
and Medicare are bankrupt. Just remember, when I came out of school, debt to GDP was 30%, today it's 140%. And I was listening to this stock guys, they make me nauseous. I wanna vomit these whole stock guys. So, oh, don't worry. The price of stocks are going up. Yeah, but the economy is going down and we are being run by communists. You know what I mean? What is the price of your
stupid stock going up? Give me a break. You know what I mean? Give me a break. So wake up. You baby boomers, wake up. So listen to this podcast
with your son or daughter. There was a song I was
talking to Sara about it, it was called "Teach Your Children Well". ♪ You who are on the road ♪ I think it was Crosby, Stills ♪ Your children's health ♪ Your children should
teach you now, wake up. So thank you all for listening
to "The Rich Dad Radio Show" and I thank Anthony Pompliano
and all of you guys, like Peter Schiff move to Puerto Rico. We'll be right back. Thank you very much. Bye-bye.
