Pomp Podcast #261: Robert Kiyosaki on How The World’s Wealthiest Invest Their Money

bang-bang I have a special treat for you today mr. robert kiyosaki himself I think the best seller ever when it comes to personal finance many of you if I read Rich Dad Poor Dad I have so well thanks so much for taking the time to do this Robert I'm honored I was just saying how much I've enjoyed their guests because I learn a lot if you talk to Caitlyn long tell her except for that lousy power outages from Wyoming it would've been a great program but she was fantastic and I said your fiancee is still my favorite I will make sure they both know so you don't know this story but in 2008 I was 20 years old in Iraq on a deployment in the US military and I read Rich Dad Poor Dad for the first time and I read it along with two other books richest man in Babylon and thinking Grow Rich and I always tell people that those three books kind of being read simultaneous at that point my life changed my mindset when it came to finance money work etc and you wrote the book know what 23 24 years ago so first of all just give us an update on kind of the book itself and kind of the impact has had well thank you for lumping me together with those books man those those are classics I mean I wrote myself your trust me Rich Dad Poor Dad two classic at this point to whether you want to admit it or not I can't believe it because it is number one in the world so far you know you know there was those books that you told me about that you read I read changed my life too yeah but for me to think that I I would write a classic you know that's classic you know cuz I flunked out of school so I can't write so I flunked my sophomore year and I flunked my senior year because the teacher my English teacher says you can't write and but the fact was I couldn't spell that's why they have a spell checker these days I know and I tried this one on the teeth one wasn't male one was a female and I said well it's a very uncreated person who can't spell a word three four different ways I love it well here's all I wanted to talk to you on the podcast today is you have done two things that I think are really important one is obviously you've been teaching people for 20-plus years on personal educate or personal finance a lot of things that schools don't teach and kind of this idea that savers or losers and not put your money to work but also recently you started to really warn people hey there is the likelihood that we are going to see a market downturn and kind of how people can protect themselves both of those things end up being pretty valuable in the world that we're existing in today so maybe just start with like what's your view of where we are in the global economy right well what's going on right now from kind of your perspective well obviously we're going for ended up a depression right now I mean this pandemic I know it's real but I smell a rat if you know what I mean and there's a lot of you know a lot of people have been warning I've been warning it's coming I've been you know what most people don't listen you know the next book I'm writing is with Jim Rickards he's you know road to ruin and currency wars we've been warning people for years and the book were going to write together is called Ravens and a raven was a bird of Greek mythology that could see the future but also and so if you if you ever saw me back in 2008 I was on wolf Blitzer's program in January saying Lehman Brothers was going to come down oh let's Lee goes and que pasa you can't say that my advertisers will cancel us it's gonna come down you know and he balked and then they had an agent of Wall Street on the program with me and she attacked me and I just shined it on you know but I'm not an agent for Wall Street I'm not you know there were criminal elements Sam was the Fed so that's kind of why I called it and then was September 2008 Lehman went down the Dow dropped from 14 to zero I hope you know and and I made so much freakin money because you make more money in a crash than you do in a boom you know but anyway people don't listen and as there's enough not only does it Raven as a prophet spirit of prophecy a Cassandra he's also from a bleed Greek mythology and a cassandra is a woman who was born with the gift of seeing the future except that nobody believed her and I think that's really the problem you know and I know that you're a Bitcoin fanatic I have a few but the reason I endorse Bitcoin is just for one freaking reason you're not part of the system you know III quote you all the time it's a separation a government and my money and you know what I say to people what do you know you're an old guy so yeah I'm very old I'm coronavirus number one target you know I've had pneumonia three times and said they're after me but so is Wall Street you know the next guys are gonna get toasted are the baby boomers in their pensions their pensions are empty you know they look it's a promise no it's not a promise you know it's yeah one of the things I think that's really important here and you kind of hit on a couple of these so first is the system is working as designed and I think a lot of people missed that point right so it's not that the system is cortical broken it's that the system no longer serves majority of the people and I think once people kind of realized the system is working as is designed that highlights part of the issue but let's start first with the pension problem I know you're super passionate about this I have no more banging of the drum to do so maybe you can get through to people but help us understand what exactly is the issue with the pensions and then kind of what do you think plays out over the next you know 12 to 36 months and it with the pensions well you know as you've said and I've said and everybody said you know the best teachers stay on YouTube they're not in our universities universe is a bunch of criminals you know I mean as far as I don't like my poor dad and I rich that imported they're all poured as phd's PhD sends for poor helpless and desperate desperate people and the only thing a schoolteacher cares about his tenure your enemy and because there's another guy Jordan Peterson Ellison CDC he says it really well he says you know these professors because he's a professor also and he says the reason they need ten years because I need to be protected so they they sell to the kids you've you're you're uh you're weak you're fragile you know you've got to be protected the government's gonna you know you got you gotta protect you from the rich and so that's when these kids are coming out of school you know I was a Marine and thank you for serving on the army but I was a marine and and a lot of those guys that spit on me when I came back from Vietnam I went there twice are today the college professors you know what you're not just communists pinkos so I I don't really have much affection for college professors they're good people you gotta go to college gonna become a doctor a lawyer an attorney or whatever it is you know account but they're not the bravest people on earth they're cowards you know those are the guys that's spit on me they're the hippies of my generation and the you know the accuse me of being a baby killer and all that stuff and so you know like when I go to the Vietnam Wall I want to cry you know because my friends died to get spit on and now they're leaving an academic system and they're sending out these kids who are fragile you know Nassim Taleb calls there's three kinds of people there's fragile robust and anti fragile mm-hmm and when I was telling my friends with boys as specialists and you know your boys are wimps you know the their Mama's boys they goes oh ho don't say that I said you know they can't find a job so they're living at home you know they're wimps don't say that but they went to school they're fragile as hell you can't say who you hurt their feelings you know I mean pop the the sergeant never hurts your feelings every day and I used to shut my mouth and do what he said and if if somebody wasn't hurting my feelings well I mean here's a great example of it right I said actually this morning I tweeted something that I said fortune 500 CEOs that are like begging for these bailouts all I'm hearing is they're basically quitting right there saying hey this problems too big and I can't figure it out and the comparison in my mind is you have small business owners that their businesses are being decimated but they're figuring out how to survive so hey we were my favorite example is on the group that was setting up the stages for Coachella right the big music festival they're supposed to do all of the kind of logistics and that all of a sudden realized Coachella's cancelled so there goes majority of our revenue for the year they immediately pivoted and they've been building FEMA tents for health care services and health care workers is that's a small business owner who says look if I don't make a decision here and change my business and adapt we will die this business will go under all to fire all my employees etc that to me is somebody who's on offense who's kind of taking responsibility for what they've signed up for etc the opposite end of that is a lot of corporate CEOs here said hey I can't figure out the problem it's too big of a problem so half the government come save me and to me it's like employees should stand up and say hey well if you can't solve the problem why don't you leave and let's go find a CEO who can solve the problem because the problem has to be solved and interest I don't know I I just don't get it but maybe you and I just have a different view of the world I guess no I mean I that's what I see the corporate CEOs like I I grew I grew up just an Steve Burke of NBC Universal they're all hitting the ripcord been there they're airborne right the smart ones got out there pulling that d-ring man they're getting out now you know so they you know they've corporate credit you know they're basically taken triple-a corporation's dropped them to be next stop is junk and those are CEOs at Ford Motor Company AT&T GE IBM they've ripped off not only you and I they ripped off the pensions they ripped off their shareholders and they've ripped off their employees they're bad leaders you know and that's why I often say that most of the people who are leading the country are like my poor dead you know what was that guy he was talking to oh Jesus Cameron raising anyway he talks about two kinds of leaders there's no time CEO and peacetime CEO Ben Horowitz war here war leaders and peacetime heroes leaders and most of our leaders are peacetime I call them peacetime yeah I mean I just really have no use I don't think good people I'm sure in all this but how can you screw your own people that's against the code it's against the code you know it's a military school although I had bad grades up high us 80s and I got accepted to Naval Academy and Marine Academy took Merchant Marine Academy because my highest paid graduates of the world and when I graduated four years later I was being paid like my classmates in 69 making a hundred twenty thousand ka year tax-free but back then it was a lot of money and the Vietnam War was still wrong this isn't 69 and like a idiot I went down to this I went down to this recruitment station and there was a guy from the Army Navy Air Force in a Marine Corps and all the other stuff and so the Coast Guard stands up there they say we're here to save people's lives and the Navy says we sail ships what are they talk about the army says we have the best vehicles in town the biggest motor pool the Air Force say they're the best golf courses and then the Marine stands up misses like boys and girls there's only one reason you want to be a Marine we kill people if you want to save people's lives join the Coast Guard even when I killed people join the Marine Corps for some reason I'm standing in front well sounds like fun you know so I came up that $120,000 a year a job to make 200 a month as a lieutenant on my way to flight school in Pensacola on to Camp Pendleton on to Okinawa and into Vietnam you know and when I came back when I came out of country and went back to Okinawa I was a changed man and that's what's really hard to tell people you know joining the military is one thing but being in combats another when I came back to Okinawa where the Marine Marine base is and was was it is I thought my fellow Marines were you know there was a supply guys in the rear but the gear and the beer you know I mean why'd I go supply but I had changed so much just you know I'm going to be up now I'm twice but each time I came back it was transformational so I really have a hard time talking to somebody if they didn't serve in combat if there are a supply guy or something but even worse than that is somebody who never served in the military you know I just don't understand it I think part of what you're highlighting here is there's a mindset right now I heard you on a recent interview you basically said look this whole crisis is in your head right and I thought that was a really illuminating statement and really because what it does is it is the way you react to the crisis right the crisis is gonna happen whether you like it or not we all don't want it to happen but it's happening in the crisis being in your head essentially the way I heard it was you can either let it happen to you and you be the receiver of all of that pain or you can be responsible and have personal responsibility and basically say look I got a navigate this correctly and if you're really good now will you navigate it successfully but you'll actually come out the other side stronger wealthier better positioned then you went into it but it all comes from that mindset of am I gonna let the world happen to me or am I gonna kind of implement my will on the world that's the curse right right I mean if you're not doing well if you're not thriving today in this crisis then someone to your head somebody crawled upside your butt and into your head and messed with it you know go to school get a job or card taxes save money and get out of debt and an investable long term in a well-diversified portfolio stocks bonds mutual funds and ETFs if you've done that you're in big trouble so as you know if you don't change your thoughts you don't change your life and that's why I've been you know I've been tweeting on I know I'm so old I don't know what Twitter is but anyway what was the talk oh I said but our YouTube man there's some the best teachers all right - and they're not getting paid stupid academic rates you know they don't have tenure most of them if they're a real teacher they're doing really well today you're doing well I'm doing well I would listen to us not that phone Ian at Harvard you know the piece time leader yeah but I think that this also like what you're highlighting you know and again you've said it before is like the dying of the Industrial Age and and really the acceleration of a shift to information age maybe explain that a little bit what do you mean when you say the Industrial Age is ending and we're now really getting thrust into that Information Age look at what we're doing today you know I mean you know Industrial Age when when it would change from agrarian to industrial the horse saw the car doing I mean the horse could see the car and I said oh my job was done and the horse was finished that's up for racing but today you can't see the change so one way so in 1989 when the world wide web came up and the Berlin Wall came down simultaneous that thought that was interesting you know so that was it's another transformation it's no different than when you know let's say I'm a king I'm a king and Portugal or something and I got all my archers on my sword guys in my spirit guys and some entrepreneur drives up there with his cannon he doesn't load that Canada and blows the guy's walls down you know but that's kind of what's happening today you know all the old guys standing in their castle walls and some entrepreneurs senator pound the crap out of them so exactly when I was with Steve Burke of nbc/universal he was saying the guys what we're doing the guys on social media are kicking their butts right now they don't know what to do you know they can't stop us so that's kind of what I'm talking about the problem is the average person because they went to school looking for a job they can't see what's going on they're blind so you know like and I think was on your program you hold up a cell phone you got more power in that cell phone then when I first went to the Academy in New York in 65 they had full you know rooms blown Sperry computers and all that you got more power in that cell phone than that Sperry computer at my school in New York and if you can't make money with that cell phone hang up the jockstrap man you don't have it yeah and I think that part of this is the models don't change just the execution does right the difference between kind of old-school NBC live television to what we're doing now to the kid who's posting a tick-tock you know six second video it's all just a guy uh rich greenfield came on he said it's a war for attention here's everyone talks about streaming wars or movie wars or TV wars he goes it's all the same it's just there's 24 hours in a day somebody's gonna sleep about eight hours of those so you got 16 hours left and we're all competing for the same hours and how do you entertain or inform somebody over everyone else it Altima comes down to value and I think to your point more and more people are finding the value outside of those traditional means because they just think that it actually has a bigger impact well if I could go back to something more basic than that what's not what I was sorry talking about the start of this whole thing is act like I told my my friend I said you know your son is a web it nice to have joined the Marine Corps join the army do something you know grow up just grow up if you're hiding out sucking your thumb with mommy and daddy there's something really wrong with you Jeremy there was something there's something lacking in your character of course this is a couple of years this is when does a storm first kick in you know and the Sun never went in the Marine Corps because his mother was afraid he might die he might live - I said no he'd probably be a supply guy in the rear with the gear and the beer but Lucy goes through basic training you know but they don't get it and then and that's the thing between wartime leader and peacetime leader most people are peacetime they're so afraid today and there's more opportunity as you and I know than ever before the history of the world and it's it's in your hand it's called the iPhone or Android already guys call those damn things but you can't think cause you're so afraid yeah that's the problem so one of the things that you've done a fantastic job I think teaching people over the years is how money in the economy works right everything from the cash flow quadrant of just get the hell out of the left side and get on the right side of the thing et cetera you've literally educated millions of people for those that don't understand it the stimulus I think is there's two components to it that crack me up right and I want European so the first is the $1,200 check I just call that that's the bribe that's the bribe for social to avoid social unrest now we're gonna give you guys 1,200 bucks everybody shut up and you know we're trying to help you and if things get really bad we basically give you $1,200 and you're good which isn't actually helpful to majority of people right but then you also get the stimulus to the corporations which you know you've highlighted it's just socialism for corporations or socialism for the rich so maybe talk a little bit about what exactly you mean by socialism for corporations or for the rich well I think this is a great book it's a pig but you know get the book is called the creature from Jekyll Island by my friend Tierra Griffith and this is I think it's a 1996 book came out and he wrote in there bailout is the name of the game so the feds only purpose and the Fed is not a bank it's a cartel owned by the richest people in the planet which will never see their and their this guy Gretch this is what NASA for Grunch stands for gross Universal cash lights so the guys at all the feared control the world not the fit but they control the world so once you understand that to go okay now I'd better start doing something different so what the Fed what the the creature does it drops the world into this crisis and a pendant pendant the pandemic is probably real but then you get so desperate you'll take the money it's communism yeah see what happens what Edward Griffin says in a creature from Jekyll Island was that when Marx attempted to bring communism to America the problem was Americans are too tough the American spirit is too strong so what Griffin is saying here what the what whoever what fuller calls grudge had to do or Marx had to do was introduce socialism first so the way you introduce socialism is called Social Security and all that the happiest crisises the depression you know 9/11 this one over here and people get so desperate rickards are saying the same thing you know a road to Rouen and all that we get so desperate we'll take anything and so they're gonna give you this thousand dollar check to but first have to bust your spirit and that's what I was saying to my friend you know send your kid even to the Coast Guard let me do something you know grow up so you get so just but you take that check next stop is communism so he goes capitalism socialism communism and you can see it right now because they're gonna bail Boeing out guess what the feds gonna take Clark ownership a Boeing that's communism you'll study economics idiots up there I mean that's communism so it they bust our spirits oh $1,200 the government cuz I don't have a job well that's the that's the same exact number that did in Hong Kong not too long ago you know those guys are rioting in the streets they gave $1,200 also and the branch by Bucky fuller gross Universal Cash ice beams VR money all systems that's why there's no financial education in schools and that's why today I'm doing better than ever I'm making money hand over fist you know my biggest problems they can't get enough inventory my cash flow game it's a good problem not complaining but we have to pay extra air freight I'm in know it stuff like this stuff that's a good problem but we were prepared for it yeah the witness he went to school you're not yeah I think part of what you're really highlighting here is this whole idea that anytime a crisis occurs it's an opportunity to grab civil liberties personal freedom and also economically and the part to me that I don't understand why people are missing this but I think you've done a great job highlighting it is the socialism for the rich and the corporations that's gonna happen whether you and I like it or not it's gonna happen and so that's just you know what it is but the cost for the bottom 50% of Americans when they when the stimulus occurs right that the devaluation of the currency and kind of all of the things that I think the gold bugs and and the bit corners have been yelling and screaming about for years it's here it's happening right before our eyes and the sad part is that the people who get hurt the most are the people who are the most vulnerable right the people who actually need the most help they get hurt because they're sitting in cash they have no real assets they're getting paid you know hourly wages that aren't adjusted for inflation etc and there's nothing they can really do other than educate themselves which is what you spent the last you know twenty-something plus years doing for people I think well look at the worst part about it too they send their kids to college was a universities and they loaded up the student loan debt and that that occurred in 2009 you know when Obama took he basically said to the banks look you lend these kids all this money and the Fed meant what the treasurer will back him up and now those kids are desperate that's why that's why I wrote Rich Dad Poor Dad back in 97 I created my cash flow board game it says our schools don't teach us anything about money but that's what this book was hearing grunge was giant it's not an accident grunts hands for gross Universal cash eyes and we can see it today that's what this book is saying we're shifting from capitalism to socialism yeah Bernie Sanders and aoc and the rest of those cartoons running and then when they bailout Boeing which is in trouble anyway but they're going to take a percentage ownership so yeah it goes some capitalism socialism communism and that's what this guy was saying that's what creature from saying and that's what rickards is saying and the road to ruin this is not a mistake and we've been warning people all these years and they still send their kids to college and learn nothing about money but they learned that fragile you know you know this you gotta be politically correct politically correct is the first step of communism it's called the freedom of speech if I have to worry about hurting your worthless little feeling I mean I'll never go anywhere you know you know what there's 72 gender pronouns now you know in the Marine Corps there's only two he or she that's it you know and if you're not in here is she you don't belong in the ring okay I'll get you but today is like 72 gender pronouns I don't even know what they are but so not only if you have to worry about not knowing your name I have no agenda pronoun you know because you're so afraid having your feelings hurt what do you think so let's kind of think of we know what the problems right you've been highlighting it there's a bunch of people who are highlighting all the economic issues that are happening right now what is the solution and what I want to start with is let's go macro first in terms of if you're the president if you're the head of the Federal Reserve etc how do you solve the problem or turn it around and then we'll go to the actual individual but what do you think the solutions really are here or are there none well I think that's a great book written years ago the 50s was called Atlas Shrugged by Ayn Rand as guys like you and me we're going into hiding the capitalists go into hiding as socialists and communists take over the government so I have several hiding places right now you know I can't tell you because I have to kill the if I tell you where but I've been I've been hiding for years you know I just write these books and all this you know my money isn't anywhere you know and it's the same old thing so you've got to find your friends I have my Rich Dad advisers man I trust these guys with my life and their women too you know so that was the best thing I got in the Marine Corps when we strapped in you I was a gunship pilot when we strapped in we were the Band of Brothers it was a lieutenant and Sergeant and corporal I know that we were just brothers man we were going in to do a very very dangerous job I went down three times and I wouldn't be here today without my brothers you know what I mean and I come back I come back I land at Norton Air Force Base in California these hippie starts spitting on me you know I should have shot you guys I have an attitude problem Bob and so I'd rather hang out with you than some pooling correct person well I don't know what his real gender is or her real gender is you know I mean I don't really care what your gender you want to you want to jump on other boys have a good life you know I don't want to do that I like women but if you want to and all that stuff that's up to you I don't really care but you can upset that I don't respect your sexual choices why should I care it's not my business so I think one of this transgender stuff is spreading hate and anger and frustration at me you know I'm very happy liking women you know so anyway I don't understand what's going on in our society that's why I think the solution is choose your friends carefully get your Band of Brothers choose your teachers wisely on YouTube but you got to be careful what you put in your head and who's got your back that's number one who got your back and like I said your fiance is gorgeous my wife is gorgeous and all that they're beautiful and they're smart and they're you know they're they like they like what they do whereas some of my friends have wives that are I'm not sure what gender they are I just think it's kind of funny you know I always say the the biggest lie ever told is they lived happily ever after so what do you what do you think is the economic solution though right so like what can the Federal Reserve do or the US government how do we stop this that's that's what this book is saying the creature from Jekyll Island the name of the game is bailout their job isn't you know inflation in this secure economy whatever they say it is their job is to protect the rich so they're gonna bailout you know so they bailed out the biggest corporations they built they're bailing out the shadow banking system right you know all this you know that they're bailing out the commercial paper market right now the big crash is in the shadow banking system and corporate credit and those CEOs who are parachuting out right now they ripped everybody else borrowing the companies might look like Ford's money they bought back their shares they parachute out with stock options and they pay less taxes they pay capital gains versus ordinary income you know that I know that but that we have what we have a zombie company called a TNT you know IBM generally electric there used to be Triple A the triple B now our CEOs are criminals what they've done to our companies but they're the best and the brightest from our school system as it's those peacetime leaders they ripped us off and so is the Fed ripping us off and so is our government rippin off Wall Street the reason our pensions are broke is because they stuffed our pensions full of these toxic assets you know what's the number-one export of America toxic assets we ship them all over the world Australia is going to die because they bought our CD asses at cielos mbss they bought all of my toxic assets all over the world simultaneous and people go oh I have a college degree what's a college degree in science yeah one of my favorite things that you've ever said is that the great live the Federal Reserve is that it's not a bank it's not federal and there's no reserves it's kind of the triple the trifecta if you will of just the three things that people think it is none of those three things are actually true and the rustics a cartel like the midian cartel the cocaine dealers well they're not much different they're highly educated people like my poor debt PhDs poor helpless and desperate and they'll do anything for that paycheck and that's what's running our country our world in all this it's just tragic and it all starts with education system what the schoolteacher about money so the school systems part of Grudge gross Universal cash ice buckminster fuller that's why there's no financial education and that's the problem and that's what records are saying in this book the road to ruin he talks about don't let a good crisis go to waste because that's what the fascists stepped in and a fascists say oh we have this thing called a corona virus you must have social distancing you must wear a mask you know you can't touch you can't bet on what you can do you know I just love Trump he gets up there he goes yeah you should wear a mask but I'm not going to that's it I like that guy screw you I just had a Tim Kennedy who's a Ranger qualified Special Forces sniper come on the podcast and one of the things that he talked about was this whole idea of there's a number of states now that are saying Robert if you're from New York you can't come to Rhode Island if you come to Rhode Island we're gonna pull you over and if a neighbor knows that you came from New York we're gonna come to your house and question you and all this stuff and Tim put it great he goes you know what they should do if you're from New York they should take the New York Yankee sign and they should stitch it into your shirt actually don't even use a New York Yankee sign why don't we just start with a star right and you very quickly can see where are we going what is happening here and to your point when people are suffering and people are desperate they'll take any violation of their rights their civil liberties etc in exchange for that economic kind of safety net which is what we're seeing occur right now well that's what my rich dad always says you know those two kinds of people in the world wimps and pimps a whip stands for where is my paycheck sir and a pimp is put it in my pocket sugar you know so you know like my my friend says you know I'm gonna I'm gonna get a huge check because I have employees they're gonna give me a huge check are you gonna take the money I said of course what are you gonna do with it buy more my buy more gold silver and Bitcoin I don't need the money but I'm gonna take it anyway yes but that's not fair I said well that's fair to me you mean I can't change the government but I can change me I can protect my team I can protect my employees my employees are our flesh they have very high-paying jobs I show them I show my cash status they know we can pay them well so when the government offered on all three and fifty billion whatever they did the other day I took it I just had my CFO fill out the forms we're gonna take the money I'm just gonna reinvest it I haven't been watching my tweets that's all let's say take the money buy gold silver and Bitcoin don't be stupid right now yes so let's switch the individual right you've got a a mil millions and millions of people in the United States and they're now saying okay here's where we are I wasn't paying attention I didn't heed the warnings I'm now sitting facing what is a minimum of financial crisis if not a depression I most likely still have a job but that is in question moving forward what do I do and I think that's the number one question people want to hear from you is just what do you do if you're an individual today in order to weather the storm and also put yourself in a better position for that financial freedom in the future given the macro environment for it well I think people should you know watch your your last videos with Ron Paul and who was the woman I guess she was in season one oh she's fantastic hello I love smart beautiful women you know I just love I like pretty stupid women too that's not like you know smart women - in other words the best teachers are on YouTube wake up they're not in colleges anymore the university system is corrupt they sold out they're taking all of the student loan money ripping off our country ripping off the kids and all this stuff and they're not teaching me I think that's useful you know most of these college kids coming out I can't hire them in fact it's almost a detriment to say you have a college degree around my company do I mean because what do you know was a while ago I would Bachelor of Science they're gonna go that's ten four BS that's like PhD is poor helpless and desperate I can't hire these guys you know I'm talking about yeah talking about they're a bunch of wimps where's my picture I want my benefits no I don't think so I think we're on the wrong team yeah so when you look out and you say okay these people gotta get educated so step one get on YouTube get on these platforms learn from those who are creating all this content that's kind of step one step two then is you've always said for a while now real estate gold silver etc but I'll consider kind of traditional inflation hedge type assets what's your view on those assets right now so forget Bitcoin for a second just got the more traditional real estate gold and silver well first of all real estate gold let me go this way it's real estate I'm as gold silver and Bitcoin the reason is you're off the central banking system or outside the system you know you say it's the separation of money and government and that's why I say gold and silver are God's money and bitcoin is open source people's money I don't know much beyond that but I'd rather have that than the dollar I don't have to mess around with a dollar because they're correct but most important this is your greatest asset your brain or is the greatest liability and if you're in trouble today then a liability is between your left cheek and your right ear because you absolutely drank some kool-aid along the way you know you thought you were doing the right thing like go to school get a job pay taxes work hard safe when I get on a debt I don't see any of that stuff you know like real estates for two reasons death and taxes my banker will give me all the money I want to buy good real estate and that with this crash coming up again there's gonna be a lot of good real estate coming up it's not getting commercial but it's gonna be a lot of good real estate coming up and I pay less taxes if I have a lot of real sign I pay no taxes so it's debt in taxes that's the main reason now people say well aren't you afraid because the markets are crash your tenants aren't gonna pay your rent I said I understand that but the government will bail me out that's called social you know it's called anyway it's it's basically bailing out and you know pom I'm so and I can tell you okay anyway where was I so you've got to know the game understand the game I'm gonna get build-up no matter what I do and that's why this book here a creature from Jekyll Island 1990 bail out there's a name of the game they'll always bail out the rich mm-hmm and so I get I guess really what it is interesting about kind of your review the world now right is the real estate you're using as an advantage when it comes to the taxes and debt and you're able to build you know quite a nice real estate portfolio and build a real nice business there you've got the financial education component whether it's the radio show the books that the board game except you've built a great business there and then it sounds like you're doing at least is gold silver and Bitcoin as a way to then take portions of your wealth and get out of the system right kind of escape into these non central bank currencies or stores of value what changed Freaks I think early on Bitcoin you weren't as excited and now I think you've said hey wait a second this is outside the system actually really like this was there one or two conversations or anything that you read or anything that kind of changed your mind and really kind of opened your eyes to it yeah it's called the price went up look I just say this much all right I don't invest in things I don't understand in my lifetime I've started a gold mine in China big mistake they took it okay so I understand the Chinese meant that CCP a Chinese Communist Party I started a silver mine in Argentina they took that also because the company the country is going broke and I've started oil companies so I've done IPL's I've done all that stuff so I understand call silver oil so the reason I did invest in Bitcoin there's a million some deals deal flow all the time I just didn't know what it was but my friend who's he's in the Marine Corps with me I mean he bought a million Bitcoin and he was already freaking rich now he looks like God so I kind of saw the light if you don't at me but I just have a kind of a personal rule I don't invest unless I understand it unless I study it and you can ask my assistant I don't you know how to use my cell phone so this is what I say to all the young people if you're under 50 you should look at Bitcoin because you might be some some degree of tech savvy I have not okay my career in gold and silver started in 1972 I was flying in Vietnam off a carrier and I'm looking at this chart I looking at the news on my wrist my wrist had sent me a letter and he says hey watch out Nixon took the dollar off the gold standard so it's like six months earlier I said what does that mean he says just watch the price of gold and the world's gonna change watch it watch it watch but then it took six months for the frickin letter to get to me on this carrier that's how slow it was so then my co-pilot and I said well let's look with some gold and so we're looking at the map of Vietnam okay there's like you know on the map has a pick and a shovel or something you know says a you gold gold mine okay Marines aren't the brightest you know you know show us pictures we don't get too much so we take off and we go we're flying along says hey we forgot something I said what's that the NVA over ran the gold mine I said you mean the gold mines in enemy hands a guy goes yeah so we're flying looks like this with typical Marines that's okay let's go get it anyway we flew behind enemy lines to go look at this gold mine so we land in this village and the Vietnamese I'm walking down the road and we left our guns we took all our guns off and all this we parked the helicopter in this rice paddy or this platform and we walked with the village and we're good hey arm you know we're here come in peace we come with dollars you know want to buy some gold so we go up to this gold vendor at the end of the village and wish today I'm looking at gold you know I look at him and he goes how do you how do we know if it's gold he says I don't know I thought you knew what gold look like I said no I thought you did no typical dumb Marines we've got into an argument because we hit gold look like because up until 1974 it was illegal for Americans don't go so all of a sudden was sitting in this village and I hear this [Music] so we thought the NBA was gone but we thought we're here the POWs are dead you know that mongers we're now behind above five miles behind any alliance and we're running through the village a similar kicking this document I represent like I kicked his pet doctor whatever it was to get back to my helicopter the helicopter is sinking as I parked it on a rice paddy I tell you Marines aren't the brightest yeah so I had and my crew chief was a little tiny guy kind of looked like Woody Allen he climbs in to put in the pilot's seat my co-pilot and I are in the back on the boom with this okay hit it he starts turning the rock rudder you know and this mud is coming up is it's pounding us in his face and we're rocking the damn helicopter trying to get out of the mud and finally baguettes in a hover the two pilots jump in we switch sides and we take us so we I said you stupid son of a while you're your stupid son boots would fly all the way back to the carrier and we land on the carrier we step off covered in mud you know and the guy said you guys don't ask that was my first adventure in gold and I became a bull buck so we squeezed sail into Hong Kong I went looking for gold this is 73 it was still illegal for America Sunday too it was silly little Americans to own gold I thought that was really strange then why is that I mean why is that and so finally I found a Krugerrand his Lowell store I paid 50 bucks for it I still have that Krugerrand today it's worth about 1500 today so you know so for young guys like you it's Bitcoin or its ethereal or whatever you guys do for all guys like me it's gold and silver and that's the best the biggest difference of all so I have millions in gold and silver kept in another country far far away in terms of when you think about like portfolio construction etc right how do you think about the gold silver and Bitcoin bucket compared to the real estate or some of the other investments that you've had and obviously understanding right you and I have a you know pretty big age gap between us so you're optimizing for something different and people my age are optimizing for but at the same time I think a lot of people are saying well how do you think you know Robert as a professional investor who spent his whole life thinking about this how do you think about that portfolio construction given the macro environment we're in today I don't really think that much about I think our needs are the same we need to have sound money and if it's Bitcoin its sound if it's gold and you know gold and silver are God's money bitcoins people money open-source you can't mess with it but as you know the powers to be will attempt to mess with it you know they'll try and hack you and all this stuff that's that's real life so the reason I do everything I have good attorneys and it comes you know my goal is far far away outside this country because if they try and confiscate it again I'm gone so you know I just learned not to trust my own country I hate to say that I fought for my country I fought for my country twice and I served I still serve in many ways but I don't trust him if you trust him save the dollar you know trust in the stock market trust that CEO who's borrowing corporate money taken taken the corporation like GE from triple-a the triple B buying shares boosting their share price exiting with stock options paying capital gains tax versus ordinary income tax the average person has no idea what I just said what I'm saying is that you just got ripped off just ripped you off then our pensions by July electric shares put it in the pensions and if they raise interest rates General Electric goes to junk it's a whole different worlds out there but whatever but no idea what I just said you understand me but the average guy doesn't that's when you just describe to is a very circular problem right in the sense of a lot of those stock buybacks were fueled by debt that debt was issued to the pension funds and therefore the stock price was propped up by the corporation being the of last resort right they were the major buyer of the stock and so all of a sudden the second that you get companies that now are saying wait a minute we're not going to do stock buybacks we're not going to issue the debt and you get into this weird situation where what happens the share price well if that buyer of last resort is gone that's not good that's probably got a fall and then you look over at the pension sign you say well who's holding all of that corporate debt that looked really good week you know two years ago four years ago now all of a sudden I don't know if you want to hold that a lot of it is the pensions and so you almost get people hit twice right they're getting hit in their pensions but they're also then getting hit with all the stimulus and in the quantitative easing which just puts them in a really really bad situation I think well that's as you've talked about it as the you know the corporate credit market it's a commercial paper market or the shank of shadow banking market so the average mom-and-pop is watching the stock market but the theft or the cash heist the gross Universal cash is a second place in the shadow banking system and that's where all the bailouts are going the reason I think is pretty fishy and I know I know the criminal virus is real but you and I knew in September of 2019 that this that the shadow banking system was bust people were not showing up to buy them they were in but they weren't showing up to buy commercial papers you know we we floated this not me but my friends company floated triple-a real estate nobody showed up to pick up the bond there was nobody buying this stuff that's why I'm saying Bob Iger of Disney is now parachuting out Steve Burke of the NBC Universal parachuting out let me tell you something there's a reason they're going airborne well I think it's funny but it's sad it's tragic yeah I've been explaining to people in June of last year May and June of last year I started to write a lot about the warning signs and people literally were writing me saying you're an idiot shut up what do you know all this stuff and the warning signs at first were very easy right they were just hey stocks are overvalued you know severely where's all this debt going we're probably I have to drop interest rates at some point the economy is addicted to stimulus right very simple kind of structural things but as you went through 2019 then it became wait a minute what's going on in the repo markets why does that seem like every day they're having to float more and more and more liquidity into the market to make sure that it doesn't seize up why are our CEO departures at all-time highs right why why is Warren Buffett have 12 120 billion dollars sitting on his balance sheet I mean you just could see all of these little data points that suggested nobody knows when it happens but we're close right and then all of a sudden you get an accelerant like the coronavirus where to me I still it blows my mind that people are talking about an economic recovery when they're doing it from their home right there looking mandated by the government to be locked in their home and they're talking about oh we're gonna have a quick recovery from this it just it just seems delusional to me it's martial law the freedom of assembly the right to assemble they just took that away from us just like being PC is the freedom of speech good I mean it's they're taken away one by one again let me pump my friends book here road to ruin he talks about he says that's the fascist state they're gonna tell you what to do so if you don't wear that mask you will be fined if you don't have social distances you'll be fine I go get a haircut you will be fine but they're bankrupting the whole frickin world right now this is worldwide for what reason and again that's why I read this book here at a free crunch of giants they can take over our lives via the money and that's what Griffin was saying here in the creature from Jekyll Island the name of the game is bailout is to bailout the Federal Reserve Bank that's why we're back in the 80s you know there was Silverado savings on loan bailed out 15 billion or something like that who ran it Bush the same people you know Neil Bush of George Bush faint those guys that some of the biggest elites as as Rickles would call their the elites and they think they're better than us because they mentor the best schools and all this and but part of yeah important this I think to that especially in the Western world right we get caught up to what's the Federal Reserve doing or what's the United States doing but this is happening all around the world central banks around the world are injecting liquidity through monetary stimulus and I think part of what gets me excited from the Bitcoin standpoint is something like Bitcoin is 24/7 and global so if you're in everywhere from India to an African country to Australia Asia wherever if your central bank is devaluing their currency you either want dollars or you want something like Bitcoin once you realize what your central bank's doing is the same thing with the US central bank is doing then you want the gold silver Bitcoin etc of the world and I think that you should end up seeing incredible you know capital flows to those assets as more and more people wake up to what's happening well I you know I think so the the biggest thing is that I don't trust my government and and what do you do if you don't trust your government you can turn into what does in talat call it's fragile and these kids coming out of school they're so fragile I can't believe them I mean I say something I hurt their feelings you know I I'm a triggering event is that the only trigger event I know was was us on my rifle so I have an attitude problem you know I mean I just I just can't take it you know if I hurt your feelings oh my god you know what's the real world doing to you another things is what the hell's wrong with us what the hell what has happened to our spirit and that's what this book is saying is to break the American spirit they had to make us poor and weak and then socialism which is ALC and Elizabeth Warren and Bernie come in and then communism can take it you can see it right now Boeing is going to have to give up its self sell some of that to the Federal Reserve back you can see it it's centralized government along it how long does it take for this to play out right so we go from capitalism socialism to communism is that a 10-year exercise is that fifty years what do you think it's here today that's why I'm saying the best book was an ran in the 50s the capitalists go into hiding so it's no different than my crew and I strapped in you know and my flight of three the gunshots take off we were tight you know you know I'm talking about hmm there is no better feeling than walking into combat with people with men and women down with you guys we didn't have women but men and women he trusted with all your heart and soul people give their lives for you that's one of my best friend said to me you know he says I'm alive today because dead men kept fighting yeah he says ice I saw guys who had just shot the and they just kept fighting so he could escape and I come back to the states and I get spit on at Norton Air Force Base and today most of those guys are spitting on me became college professors or Democrats it's a free country and you can do what you want to do I'm not Republican or Democrat drop this my friend but the freedom of choice I'd rather be just liberal I'm in-between there I mean libertarian what are you going to call it I just don't really want to get involved in it so I just want to go into hiding with my friends and I so with the Rich Dad advisor of books you know on taxes real estate and all this educate yourself school teachers listen you've been more right than wrong and on that one I don't think you're wrong at all because at the end of the day the system and I say it over and over people the system is dependent on the majority of the population not understanding how money works which is super super frustrating but that is the model yep yep yep yep and I'm you know this is a free country you want to be a socialist communist a PS knock yourself up but don't impose it upon me that's all I'm asking you know if I want to hang out with my friends who are rich good now people say the love of money is the root of all the evil that's not true it's what do you do for your money that's evil you know if you're selling drugs that's evil but if you're the Fed and you're ripping people off that's evil too if you're a school system and you're putting kids billions of dollars in student loans at one point seven trillion dollars of student loan debt every school teachers are as complicit you know your your you're part of the problem get that way and by stealing the pensions you're part of the problem you're a complicit here's what I stab that you'll love small businesses in America and the stimulus package got three hundred and fifty billion dollars right there's one point seven trillion dollars of student debt so almost five times as much student debt as we just gave to small businesses when after the governor Mandel a shutdown we just numbers are stupid right I said to somebody other today when you start talking in trillions you have you came and write the number most people couldn't write a trillion if you ask them to write it down on a piece of paper it's just such a big number but you know I am older this I've seen it coming for a lot longer like I said it started in Vietnam when I'm standing in front of this gold vendors window behind enemy lines and I don't even know what gold is you know I said Marines aren't the brightest guys thought earth but we learned quickly so I came back and I said I don't trust my government you know I don't trust them they lied to us you know this guy McNamara was Secretary of Defense he became chairman of the World Bank after that oh that's surprising oh my god that's this book you're crunch yeah we were fighting for the military-industrial complex and today one of the reasons those vaccines coming out this big pharma gets rich off of it so they're gonna make it mandatory that we take those coronavirus which means they get very rich don't take the virus if you don't take the vaccine you don't get your driver's license yeah I am I've realized the more and more right so I spent six and half years in the army and met all kinds of great people and obviously had the pleasure of going overseas with a couple of them except for and as I've come back what I have realized is people that were in the military had a crash course in geopolitics so they got to see how other people live in the world they got to see the good and the bad right and when you're walking through a country that has suffered from socialism or communism and you understand how did they get to this point how did they devolve to where they are when I'm walking through it right now and you realize a lot of those things are happening right now in the United States but I think that's the that's where people have to say I don't understand this let me go educate myself because a lot of those veterans have spent time in the countries that we you know it's easy to write off Venezuela or Zimbabwe because we say oh that's a third-world country their plate looks the same thing there's no difference between what happened there and what's starting to happen here it's just happened it just happens that we're better at marketing to some degree just remember I love this book a creature we had to bust the American spirit and the way you bust the American spirit was get them sold pour they'll take the stimulus check now I put in my tweet I'm taking it too but I'm gonna reinvest it I'm not gonna spend it you know I mean I'll get richer you know what the heck I have other friends say would you take that check I go of course they go I'm not as simple give me yours so righteous about this stuff look it's not money that's corrupt is what you do for money that may be corrupt if you're sitting in a job you hate that's corruption that's anti spiritual that's fragile ii-i've got a number of friends I don't know where this started but one of the one of the things that they love to say to each other is it's your duty to get rich because rich means that you solve your financial problems so you can provide safety and protection for those you love right and if you look at it from that standpoint the only way to actually be successful when it comes to money in financial markets is to be educated and I think that's kind of you know something you spend last 25 plus years doing it's not in school that's the problem and then you must think about health wealth and happiness the saddest thing is this is my health care cost a fortune you know why because insurance won't cover it so I go to my private health care provider a doctor I get the best health care in the war you know some of the stuff they put in me is like five thousand a pop and insurance won't cover it but you look at Big Pharma you know they're pumping up vaccines why don't they pump out vaccines because they're cheap and you don't have to test them and you can mandate the government to pump them into us and I suspect that's what they're gonna do with coronavirus you know two or three years so now that I say everybody must take a shot of coronavirus vaccine that's Big Pharma getting rich they look at the food industry they're pumping is full of fructose and all that other sugars and all this stuff you know little Cheerios Cheerios on Cocoa Puffs and all this stuff they're killing us and they're making fortunes then the CEOs rip us off oh my god I mean what else you know oh my god what are we doing so that's why I keep saying the best teachers are on YouTube you know go listen to them even if you disagree with them listen to what they say that's all I'm saying open your mind up you know cuz if you're standing in front of a mirror right now and you're afraid of not having enough money and you're thinking about taking that check you did something wrong yeah you know the propolis between your ears and your rock in your sub you're you're on top of it my friend where can where can people go find the book the board game and everything that you've you've got available for them to get educators well the good news is you know rich dad's been doing this for 25 years so I'm making fortunes the bad news is were sold out so I mean it's it's a good problem but we have you know the whole purpose was this was power to the people a same as Bitcoin it's you know people's money okay a cash flow board game was designed for people to teach people and bypass the system and we've had thousands and thousands of thousands cash flow clubs and different languages people teaching people so when I said what made your shift to Bitcoin is is we have the same philosophy open source people's money people's education people teaching bypassing a corrupt education system that is ripping off the kids at this moment no financial education and then student loan debt so you know what the kids with the lease money from the poorest family come up even poorer from school and my friends who have you know they're rich their kids come out ahead of they don't have student loan debt they're way ahead of the game so we screw the poor and the innocent that's why you and I on the same team we are on the same team you know so that's what we have to do but we've got a bypass we have to operate outside that system not and not be trainers I by being a law and the best accounts and attorneys and all this stuff you know that pay as little tax as possible legally but if you're an employee you pay the highest taxes what's brought with that picture well yeah but the Buffett says that my secretary pays the highest percentage of taxes and I do so the secretary is got a problem yeah knoweth no vegetation yeah it's a pretty crazy world that we're living in all right listen I appreciate you taking the time to do this as I said I'm a huge fan for for many many years now and I know a lot of people they got excited when they saw you start tweeting a little bit about Bitcoin and obviously you've been at the the tip of the spear when it comes to financial education because I think you somehow one single marine has replaced all of the issues in the legacy education system and you've done a great job so from all of us just thank you for doing it and I want to do this again in the future when yeah thank you you're not bad for an army guy no hey this was one thing I flew for the army more than the Marine Corps well III wasn't gonna tell you this on tape but I'll tell you when I was in Iraq one time one time one single time a Marine unit called for help and we showed up and I I've never forgotten that and I always gave every every marine I know a hard time I say hey listen don't don't tell me anything about the Marines until you go find those guys who are calling us for help when they needed help it's a bad the brothers as its spiritual but people don't realize is how spiritual it is first word the first word at the Academy is mission our mission it's all to serve that's our job and we're just serving right now so thank you for your service absolutely all right Robert I appreciate very much we'll talk soon thank you

Channel: Anthony Pompliano

Views: 108,085

Keywords: bitcoin, btc, off the chain, podcast, pomp, anthony pompliano, crypto, cryptocurrency, blockchain, finance, investing, fintech, tech, technology, investing news, financial news, btc price, bitcoin price, markets, bitcoin news, media, rich dad poor dad, Robert Kiyosaki

Id: 73a1f5nIi8E

Length: 69min 0sec (4140 seconds)

Published: Tue Apr 07 2020