Bitcoin Crashing? BIGGEST Asset Bubble in History - Robert Kiyosaki, Kim Kiyosaki, and Harry Dent

this is the rich dad radio show the good news and bad news about money here's robert kiyosaki hello hello robert kiyosaki the rich dad radio show the good news and bad news about money and we have one of our favorite guests it's also one of my favorite people to talk to because you always know where harry dance stands you don't have to guess you know i hate it when people are wishy-washy and there's one thing about harry did he's not wishy-washy you give it his point of view and that's all i ask right kim that's what he does that's what he does and so he made a prediction that uh the biggest crash was coming in april and i was you know waiting excitedly about it it didn't come and now he's calling for june so we're going to talk about with harry why delay but really what's really going on you know how is this house of cards being propped up but more importantly whether it comes june july august or next year are you prepared for it i think that is the most important question any comments kim well i love talking to harry because he's got a great sense of humor [Laughter] but he's awesome he's also a fax guy he's facts and he's demographics and i like that a lot because there's so many opinions out there and so much to figure out what's real and what's not real so i like the facts and i like the demographics and for people may not know and just understand demographics you see that baby boom generation was the biggest generation in history and we will never see a wave like that in the developed world ever again right but and it already happened you know right and the demographics caused a boom the question is is the baby boom generation going to be the baby bust generation yeah so harry welcome eric hey hey harry your your is your latest book spending waves or is there a new book no no no no no no i have so much crap on there so many people do little books and audio tapes the latest book um was zero hour zero that was years ago oh okay okay i'm not gonna publish another book until i'm right okay i like it it's better to do it beforehand but i've learned better to publish a book right after you're right than when you're still wrong so that's good advice so harry you're really known as a demographics guy so would you mind taking a couple of minutes to explain how demographics and how you predict the future using demographics okay number one i am actually a cycle guy and i only discovered demographics and cycles when i started moving from being a harvard mba consulting to fortune 100 companies in the early 80s to working with entrepreneurial companies which you guys will understand and and when i started doing that i realized their customers were not the aging bob hope generation they were the young emerging innovative new technologies new spending wave baby boomers i discovered that in the early 80s and i when i when i started looking at these statistics i'm like oh my god that's when i saw that baby boom wave like this is the biggest thing to ever hit the world in the developed world and so i could see that boom coming and and at the same time in 1981 the u.s government started on an annual basis to do surveys of the spending patterns of everyday people from cradle to grave 600 categories including the fact that i quickly discovered the average person spends the most at 46 back then now 47 moving towards 48 so i can predict how a new generation like the massive baby boomers we're going to spend more money into 2007 and then slow down and guess what the reason we have non-stop money printing is to offset the decline of the baby boom generation and this is the worst policies ever in history and these central bankers are first of all going to be destroyed by the internet blockchain technologies number one and number two by being the dumbest asses in history that think you can offset a downturn printing money out of thin air and think it will go away like i said you know where you know where hair is pretty good i wonder where harry stands in this whole but i gotta ask so i because you went there so blockchain how is blockchain gonna how uh destroy the central banks okay okay so so the internet uh back in the you know late 80s early 90s emerged as the way to connect us to information around the world i mean this is okay so there was personal computers in late 70s early 80s then the internet now it's blockchain okay so what this does blockchain is the internet of financial assets and money and i always ask people do you want more information or money and of course everybody would choose money uh for most people except for poor people okay and you know that so that's this is this is internet 2.0 and it's early stage and i'm measuring literally the uh the the you know the internet and amazon and now the blockchain and bitcoin 20-year lag same thing early stage baby boom when it emerges and people think oh it's the next big thing they over value then it crashes how much it crashes 94 that's how much amazon and the internet crashed in in the early 2000s and then you have the real boom well at the peak of this real boom the internet we're getting internet 2.0 blockchain financial assets what could be bigger than digitizing all financial assets in the world and making them more efficient and easier to trade and greater access to more people so this is the next big thing but in the early stage like 2000 2002 crash we're getting the second tech crash and it's going to be about the crash of the internet bible bigger but this early stage bubble in uh bitcoin as well so i i am thinking listen to this you could get bitcoin um 90 some percent off in just a year or two and then i would buy it bitcoin goes back to where it's been recently and then it will i think it's going to go to half a million a million and and only because it's the it's the gold standard of the new digital global monetary system which listen to me on this most important thing in all of history up until this point governments can no longer manipulate their government and country monetary system by turning more money or cheating or or devaluing their currency or whatever so this is a big deal by saying right now how does blockchain affect the fed what what is from your perspective i just want to know is you know because what what does it mean what would you say okay it just creates a new peer listen peer-to-peer okay internet number one was peer-to-peer communication anybody anywhere in the world could communicate access any information anywhere you know what you know how many real uh research staff i had ten years ago for the internet or twenty three now i have half okay a half a person does all my research okay because the internet made information easier to access and i no longer had to say oh jeff could you find out to me the price of uh gold back in 1974 no i would find on the internet and then have him go into it and dig into and develop all the charts three times more effective okay so so that's the difference this is in financial assets i mean we are getting wealthy and wealthier over time that's what you've been preaching forever every day people can get wealthy if they're just smart in this economy where we created a middle class after world war ii now we're creating an upper class of people a middle and upper middle class that actually has financial assets even the middle class in the 50s couldn't invest a dime so so this is a big deal that financial assets and investing um can be digitized and made more efficient and more available to everybody so it's the democratization burst of incomes and now of wealth and what's better than wealth screw incomes wealth is better so how does it how if you're a jay powell of the fed and then you have janet yellen and you have bayern and kamala i know us too i still one of these people are morons academic douchebags that never had a job or had sex or run a business why should they be running our monetary system this is the biggest insult and you know why i like blockchain and all this information technologies it's going to kill these central banks central banks are the last vestige of top-down management they started with countries and big companies stuff it's going down more and more to bottoms up entrepreneurs people who create real value and real money and stuff and these people are gonna die janet you i look at her picture and i say uh she looks like the tweety bird you know i thought it called booty cat that's what i see when i see her how did she become the treasury secretary after the fair chairman how did this happen she's never done anything ever in history epidemic researcher how this is insanity so i like jerome better at least i think he had a part-time job at one time you know never none of these guys so is it isn't that isn't the government going to try and step in on this blockchain and try to put controls in and take it over that's the point it's bottoms up you cannot squash this that's what i love about it i've always been a champion of bottoms up technology i mean the information revolution from the beginning on the internet how can you squash anything when anybody can learn anything and again my research from three people to a half a person okay so it gets harder and harder to squash the truth about history is you go farther you go back fewer and fewer fewer people controlled all the wealth and everybody else was a peasant okay well it's become more and more oh middle class that was a big step up middle class you still can't what are you gonna do as middle class take a vacation to florida once in your lifetime it's not that great this is about making more and more people entrepreneurial knowledge professionals access to information and be able to to work with other people in a way that just would have never been imagined so again personal computers internet 1.0 and now blockchain blockchain digitizes all but all of finance and money money is worth more than information would you agree 2.0 at one point so one more thing is that when i look at what biden is doing and all this stuff i was talking to my accountant last night and he's looking at the new tax changes coming up he he thinks or his belief is they want to shut down small entrepreneurs because they threaten them i know and that's not good policy i i agree with you on that i you know that i've been saying we're in a democratic era because once the economy slowed down after 2007 because remember we've been living off of free money since the economy really peaked in real terms in 2007 as my indicator said 20 30 years before it happened okay so so they're printing all this money and stuff so all these efforts i i mean the democrats were naturally to come in and help people who are falling behind and stuff but the truth is the only way you grow long-term is to encourage entrepreneurs and entrepreneurial investment my my i'm known for demographics you know my favorite chart is the s curve something starts at point one percent a visionary to the one percent the entrepreneurs that first jump on that and do something with it and then ten percent when it goes mainstream then it goes 10 to 90 at the same time it took all that time to prove it niche market innovation and technologies and new businesses is the key driver and demographics when new generations come along spend is number two it's still big but but but the technology and innovation cycles are even bigger so demographics are slowing around the world but the innovation can still rise here and then the thing i like about this new generation millennials and all that they're tech savvy but they're also more aware of the fed than we ever were our generation you know they don't trust the fed that's why they're into bitcoin and things like this exactly exactly exactly they're inventing bitcoin to get around this top-down economic manipulation you're right they're they're not smarter because they're smarter they're smarter because they're new anybody that walks into something that's already existing which i used to do as a consultant all the time i walk in all these businesses already you know growing and existing a long time and i'm like why are you doing this what the hell that's the millennials are smarter just because they're coming and of course they would not want the federal reserve and central banks to keep controlling and manipulating economy and doing all this stuff and and and and in the end blocking entrepreneurial innovation and and the other thing robert and kim it's very simple every generation we evolve everything evolves people are more creative more intelligent more educated than ever even the worst of us okay and and so so we're always going to become less corporate and some boss has to tell us what to do into more innovative and entrepreneurial where we can find what we know the best and create a new business or something different and be rewarded so that's why i like this bottoms up blockchain just makes the economy even more bottoms up than the internet did so i loved it we have to go to a commercial break when we come back i want you to go into why you think this economy is going to crash which i agree with i'm just waiting for it but more importantly are you prepared for it so that's we're going to look for the second half of this program i'm glad you endorsed the new millennial class coming up because they're the mo they're more savvy more aware should i say of the corruption and the fed and the treasury so we come back a bit more to harry dent of why he predicts this crash is coming and more importantly what you can do to prosper from it we'll be right back welcome back robert kiyosaki radio show the good news and bad news about money and today we're talking about what's not going to happen with blockchain bitcoin the new millennial generation taking over from the old guys the baby boomers and we're talking to harry dent and he's known for the demographic predictions that have come true and you can listen to the rich dad radio program anytime anywhere on itunes android or whatever it is and all of our programs are archived at richdadradio.com we archive them because we're only an education company we make no recommendations what to buy what to sell what to invest in but if you listen to this program again you'll learn twice as much because repetition is how we learn but more importantly if you have friends family and uh old people who need to hear this message like baby boomers them to listen to a rich go to rich dad radio program and listen to harry dent on this podcast and why the the technology of the younger generation and blockchain and bitcoin and doge and ethereum and ripple and all the other stuff coming on is the future and it's going to tear down the old and i love it and i well i love that and i'd love the first segment um you may want to listen to it again i mean harry you talk about entrepreneurs and the small business people and that's the backbone of the developed countries so i it upsets me that i see that um being attacked by these this government and and i'm one to stand up and do something about it i i do have a question before we get into the and it's part of all related of what's happening with the economy but we love that robert wrote a book called fake and you talk about the fake earnings the fake gdp the fake interest rates and all this super fake high super high valuations what would you explain that why is it all fake that is exactly what it is so people say oh price to earnings ratios on stocks are not quite as high as they were in 2000 at the last tech bubble kit no robert's right you guys are right about this it's like ever since the 2008 crash these stimulus has been so massive that gdp is fake the earnings off of that for companies is fake and then you have high stock valuations on top of that so i have an indicator where i adjust the price earnings ratios for the difference in the actual 10-year growth rates of of earnings in the economy and stocks are way more overvalued than they were at 2000 top of the tech peak or 2007. so you're right fake is a perfect name for it since the economy failed for the first time you gotta remember since 82 the worst economy since 82 and close to 1930-32 governments panicked and they also had new tools called we can print as much money they didn't know this before they only printed six percent of gdp the us at the worst of 1932 crashed six percent we are now between fiscal and monetary stimulus in the last year and a half 55 percent of gdp we are creating out of nothing to keep a dead economy i'm telling you dead dead dead dead economy going because the baby boom stopped spinning and still are in their lowest stages into 2022-23 and we have the highest debt ratios oh and how do they deal with the debt crisis add more financial assets by printing money and putting it into stocks stocks are so disconnected from the real economy if if you're sitting in stocks you should be in terror okay let's get to the my favorite subject why is the crash and why didn't it crash and when's it coming but more importantly what can we do because i agree 100 with you this one is going to be the biggest in world history i mean we're not the only guy saying this records are saying a lot of guys are saying this one is going to be the biggest in world history and it always happens just after the peak when we're peaking right now yes we are peaking right now now again the demographics already peaked in 2007 but they pumped it up um into now i mean all artificial so this bubble is worse and and i think it normally would be like the 29 to 32 crash 80 to 90 percent they may just still even when governments fail and they are going to fail they're going to be so embarrassed but they may keep it from going as low as i think i see the dow as low as 5 000 and at best 12 to 13 000 in a couple years from now that's gonna wipe out a lot of wealth real estate real estate doesn't fall as fast as stock the real estate fell 34 as you guys know in in the last downturn it's going to be 40 to 50 percent this time this year all right harry and the sad part about it is i just you know the people we hang around with i better buy a house now because the prices are going up i'm going why don't you wait no i mean i'm in puerto rico and i may have to buy one because there's nothing to rent here but i'm only going to buy i only have two real deals i'm looking at otherwise i wouldn't touch it with them but pole and puerto rico is nowhere near as overvalued as miami and new york and san francisco that's why when they measure inflation at cpi consumer price index but they don't measure asset price index yeah so anyway let's go why is it going to crash all right why is it going to crash and when when okay uh i think there's two periods um right now between late april and early june i'm seeing a potential top forming um i tell you the problem i have now there is no logic stocks should have peaked before this okay right on on my cycles when i take the technology cycles the most powerful and the demographic because the technology cycles are actually more powerful stocks should have peaked in late 2019 early 2020 just as they did when coveted hit but when coveted hit the government it was such a shock the government just went off the charts that that's when we got this 55 percent of gdp statement i mean if anybody 10 years from now or 20 years from now when i'm probably likely dead looks back at this and doesn't say these people were what were they smoking um just to think you could just print money and not deal with what what happens if you're a business and your industry slows down you have to cut cost and refocus and all this stuff well we didn't do that oh no you just print money and gloss it over and then crawl out of it you know that you know what this recovery's been since 2009 1.6 gdp growth a year for 12 years the worst recovery in all of history and you think well the stock market will be going oh hum oh no stock market looks like the best boom in all the history the stock market is full of crap okay it's a period and it's gonna fall to get down to this reality because the economy not only is is overvalued because it's been growing so slow without the stock market stimulus of at least the rich people feeling more you know wealthy and spending more the average person hasn't spent more earn more in 20 30 years they've gotten more they've gotten more from the government which is also unhealthy you can't make things work by giving people things for free right so number one lesson i've learned in life number one about all other things other than they may be a god somewhere is you don't get something for nothing period if you do get something for nothing bend over because you're getting ready to get a really painful experience no kidding oh here's what the young kids don't understand and and they're like we get all this money or anybody we get all this money oh this is great this is great that's great they don't what they don't see is there's going to be a big price to pay they don't see that where do they come from yeah you could just create prosperity by printing money then why didn't we do this 200 200 years ago are we stupid now no this this is i am going on a record i've been saying this for years i before i die or just after people are going to realize this was the stupidest most idealistic ill-informed economic policies in all of history you thought the roaring 20s was the bubble and burst this is going to make that look like nothing because it's all assets globally and everything's going to burst except the highest quality treasury bonds and and financial aspects but what's going to what's going to bring it down what are we what are we looking at what's going to what's the what are the key factors that are going to no no it just gets so extreme i mean economy keeps every recovery is like you know lymph lymph lymph limb stocks go up because money coming in oh when they push interest rates lower when interest rates go lower real estate and stocks go higher just because of artificially low so harry it's all fake you guys understand that right i understand that harry harry this is where you piss off guys like me because you say gold's gonna go to zero silver's gonna go to no no not zero oh no gold is gonna hold up better than any other major commodity but you said you said four hundred dollars did go down in 2008 at the worst of crisis it will go down again harry harry please listen so look for the economy to stay up they've got to keep interest rates low they raise interest rates the bond market crashes so how in the world can you recommend high quality treasuries is there such a thing oh there is look at 1930 to 33. one thing went up 1020 us the highest quality trader that look bonds go down this is a financial reset corporate bonds any rip bond with any risk only the risk three bonds go up it's a flight to quality but i will i will bet you on this today the treasury bonds will go up in stocks and all of the bonds how in the world can you recommend treasuries when they're the most corrupt persons run by janet yellen and the fed and you're still recommending these treasuries at the lowest rates in history okay here's why who's borrowed more money in the last two decades europe the united states who has higher debt ratios who has higher money printing we are the best house in a bad neighborhood with better demographics than china i just want you to think tell me why because i don't like treasuries where do you put your money in robert where are you going to put your money in your backyard no i'm in real life cash is good gold search is great why in the world would you save trashy crack cash i mean even dalio says cash is trash and i think bonds are the biggest corrupt things that ever happened because it's run by grandma yelling and i'm going holy do you think under the worst circumstances that if the u.s government defaulted on anything it would be their treasury bonds no i don't know i don't trust them what about you trust them i don't think you would tell me what to buy robert it's not that you just have to be in cash in another currency and what better currency than the u.s because i'm telling you i can guarantee you in the last crash proved this as well when the you know what hit the fan us dollar went up 28 and the euro and the yen and all these chinese won went down we're the best house in the in a bad neighborhood i will stand on that prediction but we will hold up better i will stand by bitcoin all day long before the dollar that yes now i agree with you on that if you want to put your money somewhere put it in after a crash now this bitcoin needs a crash here okay if bitcoin gets back down to reality at three four five seven thousand dollars i agree i would put it in bitcoin any day over any currency or any other stuff so i agree with that so if they're printing so much money and then the dollar becomes worthless over time why why are you saying why are you saying gold has been stable for decades so why is gold gonna go down we have a downturn economy downturn with demand of gold and here's the biggest reason everybody's thinking because of this money printing we're going to have higher inflation the downturn will bring deflation that brings gold down temporarily temporarily you know what one of the first things i buy in the bottom oh i buy u.s stocks i buy uh asian stocks more so not china everything but china our price our price for you look in 2008 gold went up into the early stages people thinking oh gold will be the safe haven it crashed 35 at the worst and then came back and did well that's the way i look at gold i'm not a bear on gold and in fact we have another 30-year commodity cycle one of my favorite cycles and my first cycles i discovered in history coming from 2023 to 2040. very grateful gary answered if they raise the price of the bond to 10 the bond market collapses why would you hold on to them tell me why which bonds are going to go up to 10 if they raise the price to 10 percent on the interest who's going to raise the price the 10 roberts us government needs to raise money in the downtime they're going to lower the price and deflation is going to lower the price nobody's going to see in a year or two mark my words of this nobody's going to see any chance of inflation ever again in the rest of their lifetime although that will be wrong well so there's no sense that's when bond rates go down and the high quality bonds benefit from that so low quality bonds get hurt by default risk the us treasury is going to be the least in the world you're calling for a major major depression i am good and look at the great depression u.s treasury bonds went up corporate bonds went down what i'm telling you i'll research this do you think i was born yesterday i'm going to stay i'm going to stick with research look back at 1930-32 if you want to look at the greatest depression the u.s treasury bonds were the safe haven harry you're like a white guy who speaks with fork tongue i mean you have not done your research here look at 30 to 33 crash and you'll see what did well everything went down except for u.s treasury and that was history that was history you're living in the past my friend you want to make a bet on that robert i'm going to bet to you two years out whether treasuries will be upside down i wouldn't live in puerto rico i don't have to live in puerto rico because i don't have to pay taxes because i'm a real estate guy i don't pay taxes either that's why i live in puerto rico i'm saying i will take the bet with you today two years from now treasury bonds will be higher not lower i'll just take that simple bet with you and you you or i admit we're wrong by the end of 2022 if that happened i'll take that bet with you any day of the week i'm not that convicted harry i don't have to i don't know and you will not take it that's what i'm telling you i'm not allowed to harry hey harry i don't have to and i will either or something you did take it you drank the kool-aid i didn't have to because i will take that bat robert i don't know i don't have to take something you live in puerto rico i don't live in puerto rico you live with all those guys who are afraid of taxes we don't have to pay taxes if you're smart we don't either we're smart because we live in a good place to do it we don't have to cheat we're legally endorsed all right we're out of time good luck on your bonds have fun in puerto rico and have a good life anyway we love you man thank you very much i love you always tell us where you're at thank you very much bye have fun in puerto rico [Laughter] welcome back robert kiyosaki rich dad ready to show the good news and bad news about money i want to thank our great friend harry dent i mean harry and i travel the world together and it's called edutainment it's because we don't agree and i think that's what makes it good at educational because we all have a different point of view in it so anyway thank you for listening to rich dad radio show you can listen to it anytime anywhere on itunes android and youtube and please leave a comment whenever you want to all of our programs are archived at richdadradio.com we archive them because we're only an educational show we'll make recommendations we don't say what to buy or sell or what to invest in but most important have your friends family and business associates listen to it because that's how you learn when you review the show you'll learn a lot more discuss it and just know that in in the world of money there's millions of ways you can get rich and there's billions of ways you can get poor so that's why you listen to the rich debt rate issue again really thank you for her intent it's always entertaining traveling with him because we don't agree well you you do you agree on a lot of things i know i know but i i love harry because harry has another point of view and it's a point of view that i want to pay attention to and and i'm going to look at 2022 and the in the treasury bonds and i'm going to look at what's happening in june and july and is this crash happening at that point i hope it does happen you know and you know and and in reading too i mean one thing you guys do agree on too because because when you both were calling for crashes you both said um you never anticipated they would be printing so much money to keep it propped up so had that not happened this crash would have come a long time ago but also you know kim and you and i make more money in a crash we do we do because we're not in the stock market yeah that's why not well even in real estate yeah when it crashes that's when you get rich and it depends this is the other thing in real estate when it crashes it depends on what kind of real estate you have okay so if you're in commercial real estate today office buildings you're in trouble but most people are just thinking about their private residence when it crashes their private residence goes down in value and they think their house is an asset and it's going to go up in value and oh my god i'm worth this much money but no you're not because you're not selling your house and if you sold it today where are you going to go everything is this is the worst thing is i won't mention the people's names but they're jumping in because they think prices are going up yes and every time you're jumping in when prices are rising this fast you're going to get screwed and i can't say anything because i are friends of ours well i got three kids you know i've got to have a house and you know prices keep going up and they're they got so they're panicked yeah because we're in a bubble and when this next crash comes they've already bought the house unfortunately i couldn't talk them out of it but they're going to be stuck with what's called an alligator it's going to be worth a lot less than what they owe on it and it happens all the time and that's when people like him and i come in and we relieve them of their misery and that's real investing so crashes are great times if you can recognize that we're at the top of a market so for all of you right now who think who's right harry or myself no we're both right what's going on crash question what are you going to do about it right that's exactly right and what assets are you going to are you looking at today that you can that you can prosper in the future from a crash yeah and i and what i've always said bitcoin goes down to two bucks i'm gonna load up do i give a crap no and if if bitcoin is at i don't know what it is that today let's say fifty thousand something six fifty six um well if it's going to go to half a million to a million i don't really care if i buy it at 50 000 because i think we'll have a nice profit there so i'm not too concerned about you know we you can never find a bottom and if you're waiting for the bottom you're going to wait forever and i i think that's a silly if you wanted the price to go down but people go i'm gonna buy at the bottom we never know when the bottom is and this is the other part about it is you know i say gold silver bitcoin well try buying gold and silver it's gone there's nothing in this there's nothing in the stores you know it's like ammunition you can't buy ammunition so i tell you what ladies and gentlemen these are not ordinary times and you know i mean harry is very big on treasuries which i really do because i've never owned them i don't like them i don't trust i don't trust the fed i don't trust the treasury they certainly can't control them no so i mean it's all manipulated and so that's why ladies and gentlemen rich dad is a financial education company and education doesn't mean you have to agree with us you know you don't have to agree with harry but you better find the way that works for you so i thank you for listening to the rich dad radio program sarah finally final comments uh just another great show with harry i i wrote down all of his predictions dow to 5 000 bitcoins going to be 90 off treasury bonds are going to go higher so we have a lot to do two years because he was predicting a lot but i i love having harry on because although um we disagree it's the other side of the coin and that's what we're here to do is present the other side of the coin well he's in different asset classes he's not a real estate guy right you know i understand if you guys can understand that and kim and i live in phoenix arizona because we came for the crash and we backed up the truck you know kenny mcelroy you know we just backed up the truck in 2008. we borrowed like 300 000 not 300 million dollars something i forgot what we borrowed anymore but we use debt as money and so harry uses cash we use debt so if you can hear the differences in our arguments you'll be smarter so tim and i love debt harry likes cash why would i why would i like cash when i can use debt to buy real estate that's the difference okay so thank you all for listening to the rich dad radio show thank you to our friend harry dent and he's you always know where harry's at because he'll tell you why he's right and you're all idiots

Channel: The Rich Dad Channel

Views: 576,218

Keywords: TheRichDadChannel, robert, kiyosaki, rich dad poor dad, motivational speakers, business ideas, make money, how to get rich, network marketing, how to make money, how to invest, passive income, cashflow game, Biggest crash ever, Harry Dent, Bitcoin crash

Id: QWrVmKgsZxE

Length: 40min 18sec (2418 seconds)

Published: Wed May 19 2021

Reddit Comments

[u/Silver_Surfer14162]

Why would you share this? I don’t think the silverbacks would appreciate pumping the digital assets. We’re all about the PHYSICAL.

[u/KaisersSilver]

Buy US Treasuries? Really? This is just more proof that Harry Dent has lost all sense of reality. He keeps comparing what's coming to the Great Depression... he is missing two HUGE KEY points that did not exist then that exist today and make Gold & Silver the right place to be.

1. A national debt of over $28 TRILLION dollars & a spend-a-holic Government on track to spend $10 trillion in 2021.
2. The United States was on a Gold Standard during that time. Its not today... USD FIAT is backed by nothing other than the point f a gun.

Those two factors did not exist in the 1930s that exist today...

Yes.... the stock market is going to have a massive 80% crash. Yes.... real estate is going to have a 80% to 90% crash this time. BUT Gold and Silver are going to skyrocket in price per ounce as people dump these worthless USD looking for a safe haven.... it won't be US Treasuries because they are paid out in a dying currency.... plus the World will throw away the US dollar as the world's reserve currency because of the inexcusable abuses the Government has done to it over the last 50 years.

There is only one standard the world recognizes today and that is GOLD (Silver is secondary) Every modern nation's central banks have been buying huge quantities and storing them in their OWN vaults not London, not New York. They know the US and Britain are corrupt and will steal what is in their vaults...just as they have done in the past 10 years. No one trusts them.... You shouldn't either...

FIAT is dead....electronic FIAT (cryptos) are dead..... there is only one thing left that is stable, a store of value, retains it purchasing power and accepted around to world...GOLD & SILVER, period.

Harry Dent just proved he is a complete and utterly LOONEY TOONS!