The one thing you should invest in TODAY | Listen NOW! – Robert Kiyosaki [The Rich Dad Radio Show]

This is the rich dad radio show, the good news and bad news about
money. Here’s Robert Kiyosaki. Hello. Hello. Hello. This is Robert
Kiyosaki, the rich dad radio show. The cutting is some patent news about
my name. We a very special guest today. So the headline is this right
now. If you could see the future, would you do anything about it? And I meet so many people who are in, I consider it LA LA LA, and that was
just in Hollywood a few days ago. And it’s definitely
Holly ward, LA LA land. People are oblivious to what’s
going on in the economy. And just before that I was in Zimbabwe
and before that I was in Argentina. And I’ll tell you the world from Dell,
those parts of the war, you know, looking back from Argentina or
Zimbabwe, it’s a different world. So to go to Hollywood, Holly LA LA land and walk around the
streets of Hollywood on going, wow, you know this. So it made
different worlds gone. So we have a very special guest.
His name is Dennis Gartman. And when Dennis speaks, I listen because he is painfully accurate. I remember one time he was doing a
call, long goal. I didn’t like his call, but he was right. You know, and so
I listened to what this guy says. So if you’re going to be rich,
wealthy, and happy and all that, you’ve really got to choose
who you listened to carefully. So this is a very, very special, you know,
program. So don’t listen to that yet. Yet brother-in-law of yours who, who doesn’t know anything talking about
the Kardashians or whatever it is. So our guest today is Dennis Gartman.
He has been in the published, he’s been public. His commentary,
the Gottman letter says 1987 is web. His website is the Gartman play subscribed to it. So Dennis, I’m just going to let you take to
leave because there’s so much going on. I’m not going to get in your way. So
what’s going on Dennis? [inaudible] first thing we have to talk about is, is, is the trade circumstance
here in the United States. And let me begin by saying that I am
somewhat to the right of Genghis Khan politically. I am a free market
libertarian for all intents and purposes. And I believe that free markets have
as my good friend Larry Kudlow says, capitalism is the mother’s milk of
economics, uh, of economic strength. And but what we have now as a president
who believes in trade protection, who believes in trade tariffs,
who believes in stultifying trade, not expanding trade. And this I find discouraging given the
fact that he’s supposedly is a Republican and he is a Republican in name only. I’m going to make a lot of people
angry with this and I understand that, but so be it. The president has put into effect
a threats of and an actual, uh, in positions of tariffs upon trade. Uh, especially with the Chinese and
what’s not. Let’s not kid ourselves. The Chinese cheat they always
have. They always shall be. They steal our intellectual property
rights. Not a question about it, but the fact that the president baldly
boldly stands in front of the American people and says he will have the Chinese
pay for the tariffs is contrary to anything that has ever happened. When you have trade protectionist policies
putting into effect anywhere around the world through history, the M the export or of a traded
good that has a tariff put on, it does not pay the tariff. The importer
of that good page of the tariff. And in the end of the American
consumer pays the tariff. It is a sum zero minus gain when
you put into effect trade tariffs, which increased the problem, the cost
of refrigerators, televisions, iPhones, shoes, clothes, golf clubs,
light fixtures or you name it. Most of it ha or a goodly
portion of it is made in China. Those prices are going
up. And when you do that, you have taken money out of the pockets
of consumers that could be spent on other goods and services elsewhere. It’s just an illogical unsupported
on economic policy that we are now as Republicans intended to follow. And it’s, I’m sorry it is absolutely
baldfaced bubbly wrong. But really I think what’s happening
is that the market is beginning to understand that trade tariffs,
trade protection, uh, trade, uh, inhibition of trade is, is
detrimental to the economy. So Dennis, wait, Matt,
Matt, quick question. Cause the rich dad radio show is
an international global program. So when the U S does this, what
happens to the rest of the world? Their propensity to put other trade
protectionist policies into effect is increased trade around
the world decreases. Uh, economic activity will be like a balloon. Losing air will will be deflated. It’s just a as one one circumstance
follows another. So this is when the, when we send the signals that the
great bastion of free markets, the United States is no longer
the bastion of free markets. It sends a signal to other people to
become trade protectionist in and of themselves. It is not a
healthy signal to send. There are other things that can be done. I wish I was wise enough to understand
or to put forth programs that we could incur. But trying to inhibit trade is, is detrimental to global trading activity. It’s detrimental to global
stock markets and debt. It’s detrimental to global economic
actions. So I, you know, I, I don’t like to be a harbinger. I
don’t like to be a carrier of ill news. But this is news that I’ve talked about
for months and I think now it’s finally coming to fruition as we used
to call it, the napalm report, the purchasing managers index, which fell below 50 for
the first time in 10 years. It’s certainly not an
indicator of economic strength. It is indeed an indicator
of economic weakness. And we have to pay attention to that fact. So let me ask them, ask this question.
Okay. So let’s say that you’re, you know, like most of our listeners are like
me, kind of. We’re not in the main, we’re not, we don’t have any influence inside the
halls of Congress or in big corporations and all this. So how does a little
person prepare for what you see coming? Because as I said, everything
you say Dennis comes true. And so if you can tell us what you
think is going to come true, you know, maybe we can take some action
before the stuff happens. Well, I think given the fact, I think stock prices has gotten to be
precariously high and now are starting to show signs of internal inherent weakness, probably taking some of your money off
the table if you’re long over equity is across the board using any periods of
strength that might evolve after this a 800 point decline in two days and you’ll
get a bounce, no question about it, but it won’t be much of one I’m afraid
probably should reduce the size of your position. You should probably
be less long than you were. And your propensity to be a buyer
should be somewhat in impro, somewhat inhibited. You probably want to increase your
exposure to the bond market a bit. Uh, even though I know that the interest
rates at the long end of the yield curve and I don’t want to get to us a Tyrek
seeming the ordinary low by historical standards, uh, it’s the safest place to be in the United
States is still the only place in the world in the industrialized world where
you can get positive returns on your, on, on, on five and 10 year capital,
five and 10 year treasury securities. Whereas in Germany you’re paying to
give the German government money, whereas in France you’re paying the
French government to give them money. Whereas in Luxembourg and
Belgium and almost in Italy, you’re paying the government
to get to take your money. At least here in the United States,
you’re making a percent and a half, 2% for five or 10 years. And uh, if, if, if things do what I think they are doing
now and will continue to do as I fear they shell, that’s probably
going to be the best trade. So you want to be less involved in the
stock market and you want to be involved in the bond market. And finally you still want to
be involved in the gold market. I’m not a gold bug. I don’t think
the world’s coming to an end. But in periods of, of of displeasure and periods of EC of
not only economic weakness but political, chaotic circumstances and
the impeachment is a, is a, is upon us gold will probably
do fine. Thank you very much. So let me ask this question cause you
know we were laughing about how you and I both know who Alfredi Newman
is. You know, we’re so old. Yeah. We’re so we are, as
I say, of a certain age. Yeah. How in the world can they
be negative interest rates? I mean in all your wildest dreams,
when were young guys coming up? Was that even a possibility?
And then what else? What do you think the longterm
effects, this is what I look for. Look to you to tell me. What do you think the longterm effect
will be when you have to pay a bank to keep your money? It cannot be good candidate. [inaudible] never in my wildest dreams
did I ever imagine that we’d see the sovereign nations of Europe or
Japan have negative interest rates. So it is absolutely
astounding. It is stunning. It is by historical
standards, utterly impossible. And yet here we are. Now, there
are legal reasons why the, that they have the negative interest
rates in Germany and a cost a Europe because of the ECB mandates that that
nation’s banks hold a certain amount of, of, of sovereign, of European sovereign
debt. And they’re chasing each other, racing each other to get hold of some of
it because the ECBs were requiring it. But a hundred, I’m not a hundred
years from now, 10 years from now, we will look back and say, just what in God’s name were we thinking
that we allowed interest rates to go to negative levels? I mean, that
makes absolutely no sense. How we’ve gotten here is beyond me right now. I was talking to, um, the sky whose grandparents were part
of the Weimer Republic and the 19th [inaudible]. He said he, you know, and he said it was so terrifying that
their money was as dropping and values so fast. What do you say to
mom and pop right now, all their lives have been saving money, saving for that rainy day and suddenly
that nest egg sitting in their, you know, their bank account or
their 401k is being decimated. You see, w we can talk, we can talk about the ECB and all
these guys in the bank of Japan, but mom and pop, mom and pop
are being taken out right now. Well, I don’t think that we have to clear here
in the United States that we will have a replay of what happened
in those EMR. Uh, when the, what was then the Bundesbank, uh, went on and on a binge such
as the bank over this, the, the reserve bank has Zimbabwe went on and
the reserve bank of Argentina has gone on in the past where they monetize
debt at an astronomical pace and we’re printing money at an, at an egregious
astronomical rate that that’s the, I doubt, seriously. In fact, I think that that’s simply not going
to happen here in the United States. We’re not where we are. The
world’s reserve currency,
the press, the media, the, the, the, the public is so aware of what the fed
does on balance compared to any time in the past. That’s not going to happen. I don’t think you have to worry about the
fact that your money’s going to become worthless, but you do have to worry about the fact
that you’re only getting paid instead of a what, what would you and I used to
be comfortable with five, six, seven, eight even 9% for treasury securities
or the 10 year duration or longer. Now it’s down to 200 yeah, so, so my question to you is this,
you know, we can talk about the ECB, bank of Japan, P PBO the bank of China, but mom and pop right now
sitting at home, they, that they have quantitative easing, which they’re printing money
and interest rates are dropping. What do you say to those? Let me clarify that. The, the, the fed has had began or stop the
process of quantitative easing. You can absolutely look at the date it
was April 15th of 2015 when they stopped adding to this, to the, uh, the Fed’s portfolio treasury securities
and actually began a process of allowing those treasury securities to roll off. We’ve actually been in a period of four
years of quantitative tightening, uh, which I’ve argued with I the fed really
never the fed stops quantitative easing in April of 2015 but isn’t that what Trump isn’t
about Trump’s upset about? That’s the way it’s on Powell
about Hey, play ball here. Yeah. Well the president and the
stepping out of a way, way past this, a surfboard when he, when he mandates
the fed begin to, uh, to, uh, move on to a policy of, of much easier,
uh, interest rates and, and push it in. And the president actually asked us, the United States that the fed send the
fed funds rate the overnight rate that banks trade with each other toward
the levels that exist in Germany, which has negative numbers.
That’s not going to happen. That nor should that happen. And the president really shouldn’t even
be involved in asking that, that effect. But I do think that the fed needs to, to begin the process again of adding
reserves quietly to the system, uh, through uh, fed purchases of
treasury securities. Because as I said, beginning in April of 2015 until
about a month and a half ago, they were allowing those treasury security
securities to roll off and they were actually imploding the supply
of money, not increasing it. So again, or not again, but I to be, to keep things in a
very simple perspective, you need two things to keep
the economy going higher. You need population growth, which we don’t have and you
need a quiet expansion of the, of the federal reserve or the
central banks, monetary aggregates. If you want the economy to grow by 4%, you need like 2% the population growth
and 2% growth in the monetary aggregates. What we’ve got now is negative
population growth or very, very modest population growth. If
we have any at all. And as I said, since 2015 we’ve been, we’ve
imploded the supply reserves, so we need to increase those, but we don’t need to increase them to
the levels in the, in the, in the manner, in the speed with which they did. It’s from 2008 to 2015 that was
probably a little excessive. Right. So, so Dennis, once again,
you’re, you’re talking about, you know, the presidential level and congressional
level on the, uh, bank. What, what does mom and pop
do? So when we come back, I’m going to ask her that question
again because I think really that’s our target. That’s our listener right
now. And if you’re a dentist, man, he didn’t have your
sophistication and you had, let’s say 100,000 in savings and you
had a house and would you drop back and punt? What, what did
you do? Cause Dennis, I, I sit around asking myself
that all day alum, I said, I’ve never seen negative
interest rates. I don’t even ha, I can’t even fathom that. Why?
Why would you give a bank? Why would you give a bank for 30 years? They can pay you back less at the
same time it’s being devalued anyway. So where, where, um, well, unless you think that deflation is going
to be raging for the next 20 years, then in fact if you give a bank
$1,000 and get back nine 90, uh, but if the market, if, if
the economy were deflating, if inflation disappeared and
deflation continued to be an extent, maybe that nine 90 is
actually a greater binding. You mean you, you, you, you’re
the, you’re the, the less, you’re less of the loser.
Huh? Okay. Well, Dennis, we’ll be right back. But keep that in
mind because like our market right now, you know, this guy’s like, man, you know,
my friends and all this, we’re going, no, why don’t we do, you know,
Trump, you know, Trump is my friend, but he’s not going to
listen to me. So anyway, we’d been right back with Dennis
Gartman and don’t forget his, his website is the please
subscribe to it because Dennis is the most accurate guy I’ve ever heard. Your listening to the rich dad
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rich dad advisor, Garrett Sutton. What is your number one expense in life? Your number one expense. It’s taxes. And I’ve asked the question as how
come there’s no financial education in school. But why isn’t the education
on taxes either. You know, they tell you to save
money, which is stupid. They tell you invest in the
stock market, which is stupid, but what they teach you about
taxes. So here at rich dad advisor, Tom Wheelwright, we’re talking about his
revision for his book tax free wealth. Welcome Tom. Thanks Robert. So what’s the tax free wealth above what
was different this time said revise, revise edition. Well, so what we did was, is we ha this is the first
major tax reform we’ve had
in 30 years to 2017 was 86 was the last 86 was last one back
when I was in Washington, D C so many guys got wiped
out because of that. Yeah, they did. They did. It wiped out
an entire industry. Savings and loans. This new tax law is just as big,
but in a very different way. It affects different industries. You know, the tax law has always
a series of incentives. And the question is always which
incentives and which ones apply to me. And so the key to revising tax
free wealth was what is it? What changed so much in this new tax law
that we can absolutely take advantage of the new ma. I mean seriously,
the amazing incentives. For example, I mean the bonus depreciation for
example for real estate is unbelievable. You buy a $1 million apartment, get a $300,000 deduction or
more the very first year. So if you want to make more money and
pay less taxes like Donald Trump and myself, get Tom’s book tax free wealth, log on to rich dad while you listen. Now back to Robert Kiyosaki. Our guest today is Dennis Gartman and
when Dennis speaks I listen cause this guy can see, I mean he is crystal clear on his
calls and his visions and actions. So once again you can listen to
the rich dad radio show anytime, anywhere on Android or iTunes
and all of our programs are [email protected] we are
kind of for one race and it’s because repetition is how we learn. So I highly suggest you listen to
this program again [inaudible] we’ll pick up even more. But more importantly, I have listened to her friends, family and business associates
because when Dennis speaks, you have a chance to take evasive
action as quickly as possible. Cause he and I have never seen anything
like this and which way this economy goes. Who knows? But I think Dennis has a, probably the clearest crystal
ball of anybody. So, so Dennis, what would you, okay, we talking about
for the little guy and have all these, you know, these mammos are
jumping all over the place. Talk about Italy going down. You
have Argentina with a hundred year, 8% bond and what’s going on? W what,
what do you think is, what should, what should people do? Uh, I, I think it’s abundantly clear
that, uh, again, as we talked earlier, if you have a huge portfolio
of stocks, if, if, if, uh, if some people are
actually on margin, if you, if you have a large portfolio of stocks, I think you should reduce the size rather
rather than materially maybe half as much as you had on, uh, I think you
truly, I mean, I, I, I mean that, I think that we’ve seen that the wind has
shifted and sometimes you can tell the wind has shifted in the
course of two or three days. And I think in the course of the
last two or three days with a, uh, with the ISI, with the, uh, purchasing
managers index falling below 50, for the first time in 10 years, I think you need to pay attention because
I think the markets are beginning to understand how serious are the
implications of trade, uh, uh, protection, trade tariffs that we put into effect. So I think you want to be less involved
in the stock market and I think you want to be as you do that, I think you want to find greater
exposure to the bond market. Only us treasury debt, nothing else.
Maybe Canadian debt if you can, if you have that ability. Uh, but you
don’t want to own the European debt, you want to own North American
debt. And strangely enough, normally these two things fall moving
contravention bonds and gold tend to move in contravention. One of the other bonds rising as gold
falls and gold rising as bonds fall. But I think now you’re going to see for
the next several months and maybe for the next several years, the bond market move quietly sideways to
up and gold moving up at the same time, which as I said in the past would be
Contra cyclical in the past would seem illogical, but sometimes the illogic
things have suddenly become logical. So how would you make, how would
you, well, one last question. Okay. I just heard that nobody showed
up for the last bond option. Bond auction in Japan. So what do you, what the heck is going on? Well, actually the bank of Japan showed
up and took almost everything so, and there they are. They are the buyer
of last resort, which is disconcerting. I mean you have to be somewhat concerned
when the one domestic buyers don’t roll, you know, don’t want to
buy their own domestic security. If you’re a Japanese investor,
what would you do if, if he, if you see that the Japanese 10 year
bond is yielding negative 10% or negative 10 basis points and us treasury
securities are yielding 175 basis points, what’s your propensity to buy
Japanese bonds over us bonds? Your propensity to buy Japanese
bonds is if not reduced to zero, has been at least
somewhat greatly reduced. Whereas your propensity to
buy us treasury securities, if not raised to 100% at least
has been increased materially. So I think that’s what’s
going on. The Japanese, mr and Mrs. Watson hobby
as we refer to them, are quietly moving out of
Japan and moving their, their money properly to the United States. But then, but then that sets up the dollar us
dollar got stronger and stronger, which exacerbates our
trade deficit. Right? Well, historically that’s the argument they
taught you in school that that a strong us dollar tends to inhibit the trade
exportation. But to be honest, let’s think about this for just a
second. And historically that doesn’t, that doesn’t always prove to
be correct. If you are on a, a trend from the lower left to the upper
right as far as the dollar is concerned and it has been going that
way for several years, what kind of signal does that send
to potential buyers of your goods and services? It says you better buy them now. Oh, Oh, inflation. So yeah, well not necessarily
inflation, but certainly it sends that, it tells you as a Japanese buyer
of American grain for example, you’re probably better off buying it now. Right, right. Okay. That makes sense. It’s a better deal. So, uh, in, in
fact, one of the great examples of that, I use this example all the time, is
in the 1980s, uh, in New Zealand, which I I’ll usually I admire greatly had
been a basket case as far as economics had been concerned. The IMF had told me, and I had told the New Zealand
government, what would you, you’re running a budget deficit
and you’re running a trade deficit. You need to do value the value of the
New Zealand dollar and you need to raise taxes. They did that for 15 years and
as they raised taxes, tax revenue fell. And as they devalue the New
Zealand dollar, exports declined. Roger Douglas who became the
treasurer, we would call him, the secretary of treasury
said, you know what, if, if, if for 15 years we’ve been doing what
the IMF has told us and it’s done exactly the wrong thing, we’re going to go 150
to 180 degrees in the other direction. We’re going to cut taxes and we’re going
to talk about raising the value of the New Zealand dollar. And lo and
behold, after about 10 years, revenues increased as they continued to
cut the marginal tax rate and exports increased as the New
Zealand dollar Rosen value. It’s an interesting experiment that
not enough people pay attention to. Okay, Dennis, I’m going to be,
I’m going to be in China, Japan, Singapore and New Zealand
in a few days. Yeah. So what do I say to New Zealand? You tell them, you tell
them that the, the, you better hope that commodity prices
begin to rise because you need to be that, that will be beneficial to the, to
the New Zealand dollar, the Chinese. I think you need to tell them that, uh,
they need to stop stealing American. I want to leave Japan. I went, I’m to
leave China in one piece, you know? Well then that will be
problematic, won’t it? And then in Japan, I mean, I, you know,
I’m Japanese. I don’t know what to say. Japan has a, I’m sorry to
say this. Japan is, is, is a country and ultimate decline
because the population is now imploding. It’s actually declining in a precarious
rate. I don’t hold me to the numbers, but I think there are now more people
above the age of 70 than there are below the age of 15 I. E. there’s no growth at all in the
population population is declining. The birth rate is down to one and a half, I think a one and a half births per year
for each woman and you need to have to in order to keep the population growing
and you need population increasing. So Japan I’m afraid is terminal in nature. Its own government has its own government
has said that its population is going to fall in half. Well did, did you see, I think it was 16 minutes is that the
young guys can’t don’t have sex anymore and the girls because
that’s actually true. Yeah. Because a woman doesn’t want to have sex
with a guy without a job or something like that. Fan is truly imploding. The only
growth industry in Japan, to be honest, is a robotics because as the Japanese
population grows older and there won’t be people to take care of them, McDonald’s, there won’t be people to
take care of the people. They need to have robots to
do it. So the growth industry, the only growth industry in
Japan is robotics. It’s a
very strange and very sad. Hey Dennis, can I ask a technical
question that I always wonder about is, I guess keep hearing more when the
talk about the fed and they talk about recession, fed, recession. What
does reset, you know, I mean, to me, art don’t recessions come as a
matter of course. It come down, it goes back up again. Well, recessions, the United
States has gone through what I, I’ve lived through the recession
since I was born in 1950. I listened to a session in 58. I lived through the recession
in the middle sixties. I lived through the great
recession and 72 74, the double recessions in 80 and 81, the massive recession
in Oh seven to 10. Uh, and we’re probably heading
into another recession. Remember recession by definition is simply
two quarters of negative GDP growth. That doesn’t mean the
economy is imploding. It just simply means that GDP slowed and, and went negative for
a short period of time. Unemployment at 3.9% we’ll probably
be back to 5% in a year from now. And I’m, I’m older than
you and I’m older than you. I’ve gone through the
recessions and all that. They’re kind of a good time because things
kind of flush out playing out to get back on your feet, but for some reason then it doesn’t seem
to this time they’re more afraid of the same called recession. I, I think it’s simply because there’s so
much more public media than there used to be there the internet gives
rise to, to a greater, uh, amount of information and disinformation
than we’ve had in the past. In the past, it was your evening
newspaper in the wall street journal. Now it’s your evening newspaper,
the wall street journal, the South China morning post,
the [inaudible], uh, MSNBC, CNBC, CNN. You’re bombarded every day. You hear the word recession and you
suddenly become massively depressed. I think it’s a matter of just an
abundance and an overabundance of media. Okay. So two, two final
questions. I gotta ask you. What do you think, you know, when
those drones hit Saudi Arabia, right? And then you have Brexit, what are your
two points of view on those two events? If I were a, regarding Brexit, if I were
British, I would vote for, for Brexit, I would, I would be a lever. I would be saying I’m done with the w
with the nasty regulations that Europe has imposed upon me, and I’d rather have
my own side run at the back. So I, I’m a believer in Brexit. If
I were, if I were British, I would be a voter for it. I’m not
a great supporter of Mr. Johnson. I think he’s a bit of a show off, but I think he has a hard job and I
think you’ll probably succeed in getting through with the, with Brexit. As
far as the attacks on Saudi Arabia, what bothers me? Two things. One because
of fracking and because of, uh, of, um, seismic technologies and drilling, uh, uh, productivity here in
the United States. It’s, most people don’t realize that the United
States on any given day is the largest producer of crude oil in the
world, surpassing that of Russians, surpassing that of Saudi Arabia
on a rather consistent basis. Nobody would have ever dreamt that
was going to happen 10 years ago. Uh, and all I can tell you is where we
will be farther ahead of the Saudis and farther ahead of the Russians 10
years from now than we are now. That’s going to happen. And that’s one of the reasons why when
they attack on OBC cake and Coratia oil fields occurred, there was a, an
aberrance price lead to the upside. But the market understood
right away that one, the Saudis were going to do all that
they could to return AB cake to a productivity because they have the uh, uh, Saudi Aramco IPO overhead and they want
to make sure that they get that taken care of and to the Permian basin is
going to continue to take up any, any, any requirements of, of domestic and
perhaps international export trade. It will come out of the Permian and
out of the Bakken oil fields in North Dakota. So we, the, the, the abundance of a production
here in the United States, if there’s been one major change in the
world in the last 10 years, it’s that. Okay. Thank you. Final
words, Dennis, final words. What advice would you have for the
average person out there right now? Be less involved in stocks, be more involved in bonds
and own a little bit of goal. All right. Dennis, thank you very much for always being a
fantastic contributor to the rich dad radio program. You have very powerful,
clear insights, so thank you. Thank you my friend. Always an honor to be asked when you
scraped the bottom of the [inaudible]. Give me a break. Give me a break. You’re
not on your, you’re not on TV enough. That’s your problem. [inaudible] I
don’t get enough. Anyway, thank you. Thank you my friend. Good
luck on good trade. Thank you. And we’ll come back to the most
popular part of our program. Ask Robert your listening to the rich
dad radio show with Robert Kiyosaki. Don’t be like Charlie. Charlie scans the internet for information
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rich dad advisor, Garrett Sutton. It pays to listen. Now back to Robert Kiyosaki
and the rich dad radio show. Welcome back, Robert Kiyosaki,
the rich dad radio show, the good news and bad news about money.
Once again, thank you to Dennis Gartman. His newsletter is called the Gartman he has somebody got y’all. Everybody on this comes on rich
dad radio has a point of view. This money thing is such a big subject. Everybody says they have all the answers,
they know what they’re talking about. But Dennis is one of the clearest
pop by the most articulate, and everyone of his
calls has been right on. I’ve not liked some of his calls
because it went against my call, but he was right. You know I took, I took
a bath because I didn’t listen to him. But anyway, I have a tremendous, tremendous respect for Dennis Gartman and
his public editor and publisher of the Gartman letter since 1987 so once again, listen to the rich dad
radio program anytime, anywhere on iTunes or Android
and all of our programs are [email protected] we archive them. So you can listen to this again cause
that was a lot of information today, especially listen to again, you’ll pickup twice as much and more
importantly can discuss with friends, family, and business associates. This is
not an ordinary time in world history, ladies and gentlemen, to think that tomorrow will be like
yes today you’re completely dreaming. The world has never been here before.
Like Dennis and I were talking about it. How in the world can there
be negative interest rates? We’ve never had that in 5,000 years.
And every time I, what does that mean? Most people don’t know. We’ve
never been here before. So, and this is a world event, not just a U S event or a
China event before, you know, like if one country went down, it
stayed isolated to that one country. This next crash is going to be clonal.
So please, ladies and gentlemen, listen to this radio program again,
discussed with friends, family, and plus the business associates and
make plans for the future. You know, take evasive action now because so
much of questions to ask Robert, thanks so much. Have questions to
rich dad, it’s most of us. The first question asked Robert our first question today, rubber comes
from Floyd in Arkansas. Favorite book, rich dad, poor dad says Robert. I just started reading fake and
I have a couple of questions. I know you always talk about gold and
silver, but our platinum and palladium, good investments also. Oh, you’re hurting me,
man. You’re hurting me. I invest in golden silver cause
I know gold and silver. Now, the mistake I made was
platinum was a hot thing. Everybody talking about it’s around
and bought some. The trouble is, I think it was platinum,
it looked just like silver, so I was paying the same price for gold. Now I was playing the same price
for platinum as I was gold, but I thought the platinum was a silver
coin and I sold platinum for the same price as silver, so I kind of stay
with what I know. Golden sober, if you like palladium and platinum and
all that stuff, knock yourself out, but I highly recommend you
know what you’re investing in. I like what you investing
in. I love golden sober. I’ve taken two companies
public through IPLS, which the Chinese stall in China
and my silver mine in Argentina. I love gold and silver.
I’ve been, you know, I’m coming out with an art
article about why solver. I started investing in silver when I
was 16 years old and I was 16 I started noticing that the coins, the U S
silver coins, like the diamond, the quarter and the silver
dollar had this copper tinge run. It as called debasing debase. He means I put base metal in this
case copper inside the silver. So as a young boy, I knew I
was being screwed. I said, some days they’re messing
with me right now. So at 16 I started collecting
gold and I go to the bank, I to get all these dimes and I get all
these quarters and half dollars and I look for anything with copper in it and
I give it back to the bank and I keep anything without copper. And
that’s called Gresham’s law. And Gresham’s law means when
fake money enters a system, real money goes into hiding. And I was in hiding with all my silver
coins except my mother spent them. She had no idea what I was doing.
Well, that’s what my mom was poor. She didn’t really care about money and
she didn’t know she was giving away my coin collect. She also gave me, my marble
collection was worth a lot of money. So anyway, we had different values. So that question about
palladium and all that, if you’re going to leave you
like palladium, study it, get to know why it’s used. I
understand why solvers use, I understand why gold is Zeus. There’s one more reason I like golden
solver and he has played him tussles good is the amount of gold and silver
and the world is very thin. It’s like a little fog on a window and
there’s not much gold and silver out there. And if and when, I think sooner
than later when people catch on, that money is fake, which I wrote
about. And fake money, fake teachers, fake assets. The moment they pick that up, the amount of gold and silver
available for everybody is almost nil. So that’s why I could be wrong. But if there’s only like one 10th of
one ounce for every person on earth, you know what you got. So I’m, I don’t
really care what the price is. NMR. Every time it drops I buy some
more. I just buy some more. I just stockpile it and I keep it in
safe places out of the banking system, out of my house, but in very safe places
that only myself and Kim know about. So anyway, I, I really, um, thanks
for rating fake cause it’s fake money. Fake teachers, fake assets and they
all three have to work together. You can’t have fake money and fake
assets if you didn’t have fake teachers. Our teachers know nothing about money
so they’ll tell you such thing as go to school, get a job, save money and invest in the stock
market and hear what Gottman said. Get off the stock market. Start lightening up now cause
the pounding is about to come. Thank you for your question.
Next question, Melissa. Our next question comes from Brian in
Waterford, Michigan. Favorite book, cashflow quadrant says Robert, I’m a big fan of golden silver and I
enjoyed your book fake. My question is, why do you think the gold to silver
ratio is so out of whack today? Is gold overvalued compared to
silver or is silver on sale? It depends on, I don’t, I don’t,
you know, ask that question myself. I have no idea. In lot of people
I talked to, I have no idea they, I just think the biggest
bargain on planet earth today, and this is what October, 2019 is solver. You’ve got a backup. The truck on
sovereign now it’s less than 20 bucks. Everybody in the world can go to a
coin dealer and buy a silver coin. It’s the lowest it’s ever been relative
to other asset prices. You know, at one time it was $50 today it’s
about 20 I’m glad it’s out of whack. I be buying as much as I
could. The other thing too, somebody was playing games with the golden
silver market and they dumped it and gold dropped from like in U S dollars
because the price varies depending upon the currency or the country I live in.
So let’s say I was about 1500 for gold, it’s wrapped to 1450 it dropped a hundred
bucks and somebody was playing games of that. So I just backed
up the truck on gold. A thing I noticed though was
that silver than even fluctuate, silver just stayed solid,
solid, solid, solid. So the predictions are in
predictions aren’t worth anything, but silver should be worth about a
hundred dollars in another 10 years. So at 20 bucks as a
500% gain. So right now, if you have any kinds of money, you have
20 bucks, which is what to Starbucks, go buy some silver instead, they’d be
farther ahead of the game. Next question. Our next question comes from Amir in
Miami, Florida. Favorite book, rich dad, poor dad says, what will the U S government have to do
if they want to put the dollar back on the gold standard? I tell you, I got asked that question
a lot too. And as the, and there is, I don’t think it’ll happen is because if
gold went back into currencies fi fake money, they couldn’t play games with it, it would actually become real money
then. And so they couldn’t play games. So I think Bitcoin and a theorem and
all that are in reaction because every knows the U S dollar, the yen, the
Euro, the pace are fake, you know, and Dennis’s bullish on the U S dollar.
But I don’t trust U S dollar at all. I mean I don’t trust my
government. So anyway, it’s a long way of saying it is that
I would rather go for what I trust and that’s about it. You know, my definition of money is money
as idea backed by confidence. All it is an idea with
confidence representing work
truly done as exchangeable. The trouble with money is not holding
its value, they’re printing it. And even the don’t print it is that the
fractional reserve system is where you put a, you put $10 in the
bank, they lend out nine, that $9 goes lend out 10 more times. The whole system was raid
against you. The saver. That’s why rich dad, poor
dad, savers are losers. The rich don’t work for money
and your house is not an asset. And I’m still catching hell
for those. Those sings. What? 25 years after publishing rich dad poured
it and people are still saying to the kids, save money. Go to
school, get a job. You know, buy a house cause it’s an asset.
And we’re in a bubble right now, ladies and gentlemen,
where in this massive, massive bubble and people are
trying to buy more houses, a time to buy a house is when it crashes. The time you buy silver
is when it crashes. The time you buy stocks is when
you crashes. It’s that simple. You know, it’s that simple. So anyway,
those are the lessons. And, uh, thank you all for listen
to the rich dad radio show. I want to thank Dennis Gartman and he can
submit your questions to ask Robert at rich dad radio. Thank you very much.

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