Why I wrote my new book, FAKE — Fake Money, Fake Teachers, Fake Assets - Robert Kiyosaki

hello this is Robert Kiyosaki and I'm gonna be talking to you about my latest book the title of the book is called fake fake money fake teachers and fake assets and the reason I'm doing this video today is I'm here to ask for your participation your cooperation I'm asking for your support for your feedback for your input for your critique so the reason we're doing this thing on fake is in my opinion it's the reason the Rich Dad Company was formed so I really want to know what you have to say what your questions are so we can make fake a better book so what we're going to do is we're going to release fake in point by part online you know chapter by chapter so you can read it and then you can submit your questions you can submit your questions to the real Kiyosaki dot-com once again the real Kiyosaki com so the chapter will appear online for free please read it it's not really I'm not looking for comments I want to know what didn't I cover what questions do you still have you know what I'm gonna say well not a will probably upset most people as I always do because it goes against everything you've been taught like saving money and all those other things so I'm not looking for that I want to I want to know what questions do you have that I haven't answered in the book so got that you're gonna send you're gonna send me hate mail and all those other critiques well I'll just ignore those but you can send them if you like okay but anyway I really want to know what I didn't cover in this book because this book fake is about why that Rich Dad company was formed in the first place if I use your question inside my book fake then I will send you a personally autographed thank-you book the real book of fake to you anyway so that's what I thought that's the deal you asked me a question that I think is pertinent that actually helps make the book a better I will send you a copy of my book autographed to you so that's the deal so let me explain what the book fake is about and why it was so relevant to the rich dead company this is the big picture this is 1895 to 2015 a hundred and twenty years of the Dow and what you see here is the giant crash of 1929 that was the giant crash of 1929 it was nothing nothing and you look over here this is the giant crash I mean nobody talks about that giant crash of 1987 there it is there it was nothing absolutely nothing it nearly wiped out the US this put us into a depression for 25 years that little blip there now you look at what's happening this is 2000 this is 2008 and here we are today so I ask you this you don't have to be a rocket scientist if this baby crashes again how big will it be that's the question and so the reason I wrote the book fake yes so you could understand what is happening along this line here so hopefully you can protect yourself when the next crash comes and it's coming so people know how do you know what's coming well markets always crash almost everything goes up everything comes down I mean that's real life I mean grow up that's real life the question is how big will the next crash be another thing too is those crashes approximately every ten years the last crash was 2008 I'm talking to you today in June of 2018 so the question is what's going to happen here and it's because of this way back in 1996 I created the cash flow board game and wrote Rich Dad Poor Dad somewhat some place in here okay because I could see this coming so I'm gonna give you a little history now so you can track along this line here back in 1983 my teacher was dr. R Buckminster Fuller and he Pat he was famous for the geodesic dome which was the u.s. Pavilion at the World's Fair in Montreal in 1967 so after Fuller passed away I studied with him for three summers he passed away on July 1st 1983 that after he died this book came out posthumously now fuller is more known as a scientist and mathematician and architect when he wrote this book crunch of giants it was a different book it was departure from what he normally wrote about and grudge stands for gross Universal cash heist let me ascend again gross Universal cash heist it's about who really runs the world economy so when I read this book I understood it I might oh my god but that that was 1983 and that was a year I started going oh my god what am I gonna do because I could see what's gonna come because future because Bucky fuller was a futurist primarily so I read this book crunch of giants and then I began to study for the first time in my life back in 1983 I became a student I really I was I was a screw-off before that but in 1983 I became a student I said you know what is grudge who are these guys who are these guys that are controlling the world that was my question so as Fuller said you know get the student out of school and get get him back to his studies so when I read this book for the first time in my life I became a student now Fuller was saying the same thing my Rich Dad was saying the game is rigged the game of money is rate against you and me but rich dad couldn't really prove it so what fake does is prove it this book fake is going to prove it to you so that's why I needs your input what don't I answer what questions do you have if you don't like the book that's your problem I don't really care if you don't like the book I don't know what I'm not covering so this is 1983 in 1983 I met my beautiful sweetheart and we quit our jobs and we went traveling to figure out what was Grunch up to how are they rigging the world economy the next book the creature from Jekyll Island comes out this is it my friend she had went Griffin wrote this book as you can see I love the book I read it so many times and study it in fake I talked about the three types of fakes there on this world number one is fake money number two is fake teachers and number three are fake assets these guys here are real teachers they actually do the real thing so Edward Griffin is a real teacher most teachers in school while they're good people most of them really don't understand money so they really can't teach teach you about money so I call them fake teachers because they tell you to go to school and get a job save money why would you save money and work hard and get out of debt and all that stuff but they don't know what they're talking about that's my poor debt PhD they're good people 80% of good people 20% part 8020 rule but 80% are really good teachers but actually as you know our school system teaches us nothing about money so that's why number two section number two in fake as fake teachers you got to know who the real teachers are and so these are my real teachers here so this is the creature from Jekyll Island he can separate many many books this is the great deformation David a Stockman he was Ronald Reagan's President Reagan's budget director this guy is a real teacher I mean he could tell I think he knows what he's talking about on the budget so fuller and Grunch wrote about this guy here so I was getting the picture completed and he was saying the same thing that Fuller was saying earlier about President Reagan and in this book here is road to Rouen eccentric cetera so let me go over what fakes about in 1971 President Richard a Nixon well I'm not a crook tricky dead took the US dollar off the gold standard why is that significant I have directed the of the Treasury to take the action necessary to defend the dollar against the speculators I have directed secretary Connolly to suspend temporarily the convertibility of the dollar in the gold or other reserve assets except in amounts and conditions determined to be in the interest of monetary stability and in the best interest of the United States your dollar will be worth just as much tomorrow as it is today so why Nixon in 1971 saying the dollars coming off to the gold standard was supposed to be temporary is so important as a u.s. dollar became fake money it's exactly what my rich dad was saying to me that's why the rich lesson number one and Rich Dad Poor Dad is the rich don't work for money because in 1971 it became fake and so it just chug so long Chuck so long like this and you can see what happened nothing really happened but the stock market went up so the rich started to get richer because the stock market was going up and the economy was booming cuz it was all this fake money flooding the system then there was this crash here in 1987 so in 1987 after they crashed I said oh my god how do we prevent it from crashing again so they started creating fake assets again the three lessons and fake our fake money 1971 number two is fake teachers because they don't know anything about money and they tell you to get a job and save money and then you have fake assets so let me say it again 71 crash fake assets take over and they start going like this like this and like this and it goes to two thousand so what happened in 1990 when President Clinton he figured off the glass-steagall Act and it turned all of this our money into a casino one big casino so mom-and-pop was now we're in trouble you and I were in trouble because President Clinton took away at the glass-steagall Act so they could take your savings and they could put it in the casino if they lost your money tough the taxpayer covered the bill that's why the glass-steagall Act in 1999 was so crucial they took your savings put it in the casino and this happened we have fake assets so that's kind of what's going on right now so we had this crash so they created more fake assets it went up 2008 real estate they say was a real estate crash it wasn't a real estate crash it was a fake asset crash a fake acids called CDLs clatter eyes debt obligations mbss mortgage-backed securities and CDSs credit default swaps fake assets that's what's going on and they want to crash down here they did it again they're printed even more fake assets because what happens when the markets crash the rich get richer and everybody else gets poorer we put the bill you and I the taxpayer foot the bill is that fair so that's why I'm writing fake that's why the rich dead company was created because we have an answer out of it but the way out of it is something not taught in school is called financial education the whole business of markets is based upon losers the same as Las Vegas Las Vegas will not exist without losers if everybody went to Las Vegas and this is glass-steagall 1999 President Clinton by having so many losers come to Las Vegas the winners walk away with the money and we all know that so the importance of 1999 President Clinton and the glass-steagall Act is a stock market is based upon losers and most of mom and pops are the losers you and me are the losers and that when it crashes and we build the rich guys out we lose again as taxpayers because we put the bill that's what's happening it all went back to 1971 here when President Nixon took us off the gold standard and we have fake money James records he wrote this book the road to ruin once again this guy is a real teacher because he's actually in this every single day he was an insider watching this crash right in here it was called LTCM it was a Russian ruble crash long-term LTCM was long-term capital management James Rickards was the attorney inside that company so he saw the corruption inside the markets that was the same year that Clinton was taking it off repealing the glass-steagall Act so this guy saw it oh this guy is a real teacher so that's why I studied them so this is a real teacher faces verses think teachers so this book just came out it's called collusion and she's a real teacher too because she worked for a lot of those companies she worked for I think Lehman Brothers she worked for Goldman Sachs you know the six major guys well they're worse before Lehman crashed and now there's only six left I think was 14 F before the crash there's only six left now so she worked for those guys and she saw them packaging these fake assets and so we're collusion comes in this book just came out in May two thousand eighteen that's how recent this book is Nomi Prince again she's a real teacher she picks up here what happened in 2008 what the federal government what did the central banks of the world do like the Bank of Japan the European Central Bank the Federal Reserve Bank the Bank of pbl see the People's Bank of China all of these guys what did they have to do so what they had to do was print more fake assets and pump this baby up here so she explains what's happening in the world so the it's a most amazing book and it goes all the way back to this book here Grunch gross universal sighs 1983 so all of this is chugging along and the other day I'm cruising passin newsstand and I don't necessarily subscribe to Time magazine it's good magazine but I read The Economist and other things and this magazine goes pick me up so I look at and this is how my generation broke America and this here was absolutely disgusting so this book in 1983 and this magazine May 2018 verify the same thing my generation graduated from elite universities and moved into the professional world where their personal success the elites personal success often had serious societal consequences these brightest from America like Ben Bernanke went to MIT Princeton Harvard Stanford all that stuff they ripped off the world they were trained to rip off the world that's why there's no financial education in schools second he says they the elites created an economy built on deals that moved assets around instead of building new ones in other words they never created assets they created fake assets CDOs collateralized debt obligations mbss mortgage-backed securities and credit defaults CWS credit defaults CTS's they're fake so they made immediate profits they made a massive amounts of money they created an exotic and risky financial instruments including derivatives which CDL MBS this is CDSs current default swaps are and credit default swaps that produced sugar highs so the rich really got really really rich fast the very guys that went to the schools the best schools created these fake assets to make themselves and the six major banks richer than ever before they produce sugar highs of immediate profits but separated those taken from those who would bear the consequences so the way out of it is for financial education and you can do it everybody could do it but you have to understand the game after 1971 this is what happens to people who save money the purchasing power of the dollar is going down because they're printing money and our school fusions he's fake teachers again the good people well these financial planner still tell you to save money well why would you save money when these guys are printing it faster than you could ever ever save it that's bad teaching bad financial advice horrible so he says and then the second thing I tell you to save money and invest for the long term in the stock market this guy is saying are you nuts this is Stockman he was Reagan's budget director he is a rail teacher he was there just the whole stock market is rigged for the rich again it's a casino and a casino is based depends upon all these losers coming in so those the top can win so the loser started coming in right around here 1974 it was a thing called the 401k they needed more losers to enter the market and what did the financial planners tell you save money and invest for a long term of the stock market they needed people to come in here and push this up again it's a casino like Las Vegas lotta losers walk in winners walk out with the money that's the game now again was glass-steagall they organized hedge funds that turn owning a stock into a minute-to-minute bet rather than invest for the long term it's a casino we don't know when but it will come down then all those guys lost 401ks toast that's why the rich dead company was formed that's why I catch so much Hell saying savers are losers you know why invest for the long-term of the stock market when it's a casino my concern is Maya the old guys like me are sitting there with the retirement plans which are broke you know the California retirement system broke Hawaii retirement system is broke Chicago's retirement system is broke and if and when this baby comes down my generation is toast the way out is real financial education not that fake financial education which is go to school get a job work hard save money get out of debt and invest for the long-term in the stock market rich dad's is exactly opposite but it takes financial education to do what we do the good news is this in the final chapter of fake everybody can do something I don't care where you are rich or poor everybody can do something so that's why I wrote fake and I trust you enjoy the book thank you

Channel: The Rich Dad Channel

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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

Id: skZZaMW4dsY

Length: 20min 45sec (1245 seconds)

Published: Tue Oct 09 2018