Best of Robert Kiyosaki: Why the Dollar Is Dying and What Comes Next

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1:09In this special compilation, we've pulled together some of the most eye-opening, controversial, and unforgettable moments so you can revisit the lessons that continue to change lives. Get ready for the best of Rich Dad Radio. This is the Rich Dad Radio Show. The good news and bad news about money. Here's Robert Kiyosaki. Hello, hello, hello, Robert Kiyosaki. I'm going to be talking about this book here with my co-author Ted Sedell. So Ted's not going to be on this call, but I think it's important that I continue on anyway. And at the back of Who's Told My Pension, which came out in 2020, it says, What is America's number one export?

1:52And America's number one export is fake money. We print money, and these financial planners sell you bonds and all that. And there's a law called Stein's Law. And Stein's Law says what will come to an end will come to an end. And the reason I want to talk about this here is my generation, the boomer generation, is screwed because we trusted these financial planners. We trusted these pensions. They trusted the teachers' union pension. They trusted the teamsters' union pensions. And those guys are turning out to be some of the bigger crooks. And these financial planners will tell you bonds are safe and all that.

2:39They're lying to you. Not true. There's nothing safe in the midst of today because America's number one export is fake money. We print money, and I think we're printing a trillion dollars every 90 days or something. And the ways you can print money is you first have to create a bond, a U.S. Treasury bond. And these financial planners and pensions buy them like crazy. They basically say that bonds are safe. They're not safe. Nothing's safe. Stupidity isn't safe. And so that's why I founded Rich Dad, the casual board game over here, so you can at least educate yourself. You know, don't even believe me.

3:23The very simple reason is very few people can do what I do. You see, most people, if you look behind me, this is called the rat race, and that's where schools tell you to go to. You know, go to school, get a job, work hard, save money, and da-da-da-da. They're lying to you. They're lying to you. look what's coming ladies and gentlemen is called ai artificial intelligence and super artificial intelligence so in the next five years you won't need attorneys which is a good idea you won't need accountants like even today i can do contracts without attorneys using ai and so all those a students you know who you know went to school and became attorneys and accountants and even doctors are becoming obsolete because of AI.

4:10Then you add Bitcoin to this whole message. And Bitcoin, like I said, is real money in a world of fake money. So Bitcoin, people say, well, it's not as safe as da-da-da. Well, Bitcoin is safer than the US dollar. I'm not saying it's I wouldn't lie to you there, but Bitcoin and Ethereum are safer than the fake US dollar. Because America's biggest export is fake money. Like I said, every 90 days, we print a trillion dollars in fake money. And my academic relatives, they always say, well, we save money. Well, if you rent rich dad, poor dad, you know, I put savers are losers. You don't save money because they're printing it.

5:02why would you save something they're printing? So people say, well, the price of gold is going up. It's not that the price of gold is going up. The purchasing part of the dollar is coming down. So why do you save dollars? So that's why I'm not saying Bitcoin is safe or Ethereum is safe, but it's safer than the dollar. And this book here with Ted Sedell, it says here something like this. This is, he was named the 40 most influential people in the U.S. pension industry. Ted Sedell, who's blowing the whistle on our fake pensions, like our teachers union pensions, you know, CalPERS and all those criminal operations that supply the teachers and firefighters and police officers their pensions, they're stealing from you.

5:53Those bankers are stealing from you. hello robert kiyosaki rich dad radio show our friend his longtime friend doug casey he and i we talk at different places but we finally met doug i think it was at the nomad capitalist show in cancun or something like that where we went face to face i think you're right i think that was during the great covet hysteria wasn't it anyway it was good good to go face to face finally, but now we, and then, by the way, Doug has a good sense to live in Argentina and Uruguay and America. So he has a unique perspective on the world. And I'm helping, this is his latest book here called The Preparation.

6:44And I told him I would help plug the book. Doug, I think the name of this book should be called The Preparation to be a soldier of fortune. I guess that's one of the reasons I wrote the book. In the book, what we're trying to do is tell young men why they should not misallocate four years of their time and a whole bunch of money to go to college and be indoctrinated with absolutely sick ideas and accessible and use that time to pick up skills and, in effect, turn themselves into a renaissance man. Yeah, I meet so many American men who sit in the basement playing video games, hoping their 401k works.

7:33What is wrong with you? Well, I don't know. They're acting like house plants. And acting like a house plant is not a good survival strategy for a human, especially not in the kind of times that we're headed into right now. And I'm wondering, Robert, whether the assassination of Charlie Kirk is one of those tipping points, much like the assassination of JFK was back in 1963. It might be. And that's one of those questions I was going to ask you. As an American sitting in South America looking into our country, what do you see? What's going on in it? I hate to say it because I love America. it's a unique country it's the only country in world history that was founded on the principles of free speech and free minds and free markets but I'm afraid that it's become corrupt and degraded and I think we're in for something I call the greater depression a period of time when most people's standard of living drops significantly and I think it's going to be much different and much longer than what we had from 1929 to 1946.

8:57Yeah. And worse also. And so we're going in that direction. You know, since you and I are now the senior citizens of this generation, how are you prepared for it? I mean, or what would you recommend a person prepare for it? If you save the dollar, America is printing$2 trillion a year, like Zimbabwe was. Why would you save the dollar? It's crazy to save the dollar, but you have to save. It's important to produce more than you consume and save the difference. But what do you save it in? You can't save dollars. They're hot potatoes. it's an IOU nothing on the part of a bankrupt government. So I've used gold and silver as savings vehicles forever.

9:54So I bought my first gold at around$40 an ounce, and I've never sold an ounce. So I still have it all and lots of silver. I hate to advise people to buy gold now because before it was obviously depressed relative to everything else. Now it seems to me gold is more or less where it should be relative to cars, houses, clothes. I think it could go 10 to 1 from here for different reasons, but not because it's underpriced. But you have to save. The problem is what do you save in now? It's a tougher situation than people have ever been in before, I think. I think silver is still relatively underpriced.

10:48It's going higher. Yeah. And then what Buffett's been saying, which is a concern that I have. He says the worst thing that's going to hit the boomer generation with their 401ks is inflation. Yeah. No matter how much they have in their 401k and we're spending$2 trillion more than we pull in. They're probably going to be a problem. Well, that's right. I mean, you buy your average stock and maybe it's yielding 2 % or 3%, something like that. But the dollar is losing value. You can't believe the government's figures. You can't believe the U.S. government's figures any more than you can believe the Argentine government's figures.

11:33The dollar is losing value in real terms in between 5 % and 10 % per year. So what do you do? I know real estate has always treated you extremely well because it's a real asset. But is real estate getting overpriced too? Well, you can always find a bargain. You know what I mean? That's what I like about real estate. There's somebody always in the sell mode. This is from Inliquid Market. This is another question I want to ask you, because being in Argentina, this guy Javier Mille, you know, he took the chainsaw. When you saw Trump and Musk get together, was there a glimmer of hope from you? Listen, I was a huge fan of Doge and what Musk wanted to do.

12:25But Doge has basically disappeared. And Trump is spending money like a drunk sailor at this point. So I wonder his relation with Musk is not what it was. I'm going to correct you. Drunk sailors spend their own money.

12:47That's a good point. That's a good point. Keep going. Keep going. Well, Doge is the only thing that could save the U.S. government from total and abject bankruptcy and defaulting on all of its obligations, which is going to happen. But the problem is that Argentina had one of the worst economies in the world, and the people got totally fed up and they elected Javier Malay, who said that he wanted to take a chainsaw to everything the government does. And he did wonderful things. He fired scores of thousands of worthless government employees, cut the budget in many places, but he's made some mistakes.

13:40Like he said he was going to abolish the central bank, their equivalent to the Fed in this country. He didn't do it. Big mistake. He should have defaulted out of all of Argentina's foreign debts. Why? That money was all stolen by the previous administration. So he shouldn't turn the next generation of Argentines, or for that matter, Americans into serfs paying off debt that was pissed away, quite frankly. So he should have defaulted on that. And now he's borrowing more money from the U.S. government. Well, of course, the U.S. government doesn't have the money either. It's printing up the money.

14:23So I don't know. Listen, I love Argentina. And as a place to hang out, it's one of the best in the world. But I hope Millet doesn't blow it by losing the plot, which is basically taking a chainsaw to the government. We'll be right back.

14:51Hello, Robert Kiyosaki. And today I have a very special guest, longtime friend, and person I have tremendous respect for in an offhanded way as Harry Dent. And the reason I like Harry Dent is Harry Dent is no bullshit. He will change his point of view if he has to change his point of view. So I don't have to worry about there being three or four Harry Dents out there. There's one Harry Dent at that moment, and he will tell you whatever he's thinking to be true for him at this moment, popular or unpopular. And I was paid the highest honor, Harry, that's saying, you're as pessimistic as Harry Dent.

15:30And I said, God, what a compliment that is. You know, it's because a lot of people have Pollyanna, you know, all the stocks. S &P is going up forever. Bonds are safe. You can trust the Federal Reserve Bank. I'm going, what? And so Harry did is a man who will tell you what's going on for him. It may be popular. It may be unpopular. But he will tell you what he thinks at this moment. So, Harry, welcome to the Rich Dad Radio Show. Yeah, nice to be here, Robert. Remember, when you and I were kids, America was the richest country in the world. Today, we're the biggest debtor nation in the world. And for us to say, oh, don't worry, the Fed can keep printing, I think it's a lie.

16:12I think. I don't know what you think. But we're printing, what, a trillion dollars every two months or something like that? And as they say, what's that law? Some law says, if it'll end, it'll end. So that's what I like about you is that you're up to the minute. You're a demographer, which means you look at what demographics are saying, and you will tell us what you think at this moment. And a year from now, you may change. I respect that. So, Harry, be as pessimistic as you like. I love it. Well, you know, I mean, here's a simple story here. When I started forecasting the early 80s, you know what I got the greatest criticism for?

16:55I was unbelievably bullish and not on Japan back then, on the United States of America. I mean, Japan had come along and taken a lot of our older industries because they were much more efficient and all that stuff. I said, but Japan is the fastest aging developed country in the world. They're the ones that are going to go down after 1990. And we're going to have the greatest boom in history. Why? we have the greatest generation ever to hit the earth called the baby boom generation back then. Still is. It's just now they're aging and they're no longer driving the economy. But I mean, this couldn't have been simpler.

17:31And because I didn't have a PhD in economics, which economists criticized before, I was simple enough to say, oh, here's a good indicator. I know for certainty, U.S. statistics, and only the U.S. has the best statistics studying consumers every year surveys, the average person enters the workforce 20 and spends the most at 46. So all I got to do to see the future is take the birth index and move it forward 46 years from when the highest amount of people will be spending the most money. I mean, extremely simple. Well, I started doing that in the early 80s and boy, did I get blowback. I mean, I'm foolish and stuff.

18:11Oh my God, no, no, you don't understand. We're not going to have any industries left. Japan and East Asia are going to take them all over. I said, no, look at their demographics. They peak in the early, in late eighties, early nineties and fall off a cliff forever. And they're still falling off that cliff, by the way. And so, so I mean, you can't just learn. Harry, you introduced the word world to a very important word, demography. Yes. Simple people do predictable things as they age. in particular. Yeah. I mean, if I'm in the economy, do I want a five-year-old screaming all the time and crapping in their diapers and costing all this money and having to see doctors and getting over the cost of the birth thing?

19:00Or do I want a 46-year-old to peak their career spending the most money and just getting their kids out of college so they can turn around and do the same thing next round for the next generational boom? And boy, do I want a bunch of old people? Ooh, no. Ask Japan. Japan came out of nowhere, took over the earth for a short period of time. They were the ones that got old first. And since I was studying demographics, that was obvious to me that Japan was playing a catch-up game. I kept saying when I was lecturing in the 80s, hey, yes, Japan's doing great, but what industries are they taking over?

19:38Steel, okay? Old industries, okay? Who's leading high-tech information technology, personal computers, Microsoft software? It's us. And who's producing the customized products that go for a premium? So, you know, I don't know. I just learned because I didn't study economics, Robert. I had a major in economics. And after the third course, I said, this is conceptual, vague, boring. Nobody likes it. I can't even, you know, learn much from it. And my father's best friend said, you know what we wish we had done, little Harry. They called me. They said, we wish we'd have studied accounting and finance.

20:19That's what kills us in business. We know how to market. We know how to manage. We're people, people. We can't figure out the damn numbers and read our own balance sheets and P &L. So that's what I majored in in college. But I always had my eye on Harvard Business School or Stanford. and I knew I wanted to get an MBA and I was going to take what I call the important marketing management, big picture stuff there. And that's what I did, you know, and, and, and I never, I started with a major in economics and quit it after that third course and studied everything else about business. And then I worked at Bain and company consultant to fortune 100 companies that were failing back then because of the Eastern and global competition.

21:03And then I couldn't work with big companies. They were just too slow. So I jumped off. I took a job turning around a publishing company in California. And then I just, after that, I got one job after the next. All small businesses do is fail. That's why they're so productive. Failure, by the way, is the secret to success. Tolerance. Amen, brother. Amen. Makes entrepreneurs in the most successful people because most people, as Elon Musk said recently, will quit after the first major failure. So I turned around six companies in difficulty in the 1980s, consulted a lot of small businesses, and then started my own business around my newsletter in 1989 and never went to an office again.

21:49Still sitting right now in my den doing my work on my computer in Puerto Rico, Looking over the water, not close to anything. I could be in Lincoln, Nebraska. And so that just happened naturally. But I learned that the key thing is the truth. If you dig hard enough, you can find the truth about anything. People kept telling me, Harry, nobody can predict the economy that far out. There's too many things that can change. The president, I don't care who's president. I have never cared who's president. They make differences in some areas here and there. I've never had to rely on that to predict. It's 300 million people in the United States growing up, costing everybody money and causing trouble when they're young, but learning rapidly, entering the workforce, getting better and better and better, more and more productive.

22:42That's 20 to 46. And then plateauing in the middle life into the mid 50s, and then slowly declining into retirement and then disappearing. and all of those stages have their pros and cons who invest all the money the people from 50 to 63 when they enter in a retirement okay they're the ones that invest the most but who spends the money 20 to 46 now it's 47 in most countries um and this is what makes the economy macro so predictable 46 year lag on the birth index only is i have to adjust for immigration and i can do that accurate It's just so hairy. That's why I respect you, because you will tell it the way it is, as you call it, as you see it.

23:29So my question is, what do you see coming for America, then Japan, and Germany? Because I was just traveling. I traveled the world. And you remember, not too long ago, Japan and Germany were our enemies. They became trading partners. But today, Germany and Japan and America, as you say, our demographics are changing. And what's that mean to the world when Germany, Japan, and America's demographics change? What do you see coming? Well, very simply, Northern Europe and North America have the best demographics in the developed world, East Asia. And this includes China, even though they're not a developed country yet.

24:12But Korea, Japan have the worst. OK, when we for some reason, when when when people in East Asia get affluent, they not only have less babies, they have a lot less babies. Everybody that gets affluent basically starts to think about money and think about their kids getting into a good school and then making money. And that means they don't want to have four or five, six kids as they did in the good old days in the 30s, 40s and 50s. OK, they want to have one or two kids and get them into Harvard or Stanford or whatever. OK, and so affluence actually eventually slows country because there's fewer kids.

24:48So if you're not having kids and or if you're not like the United States where, hey, we're having fewer kids, but we are strong on immigration and Australia is even stronger than us. And New Zealand, those kind of Australia, if I looked at their charts, their demographics and didn't know they were rich like us, not quite as rich, but neither. I would think they were an emerging country. Why? They're getting constant flow of immigration, not from South America and Mexico, from East and Southeast Asia, where everybody loves those workers. So they've got high quality and high quantity of immigration.

25:25So between births and immigration, and I've got a bell curve of immigrants, Robert. It took me some work on that, but I did my research and I can take the immigrants coming to the country and distribute them back to when they were born as if they'd always been in that country. So that same birth index that I lagged for 46 years and will tell me almost 50 years in advance who's going to boom the most and when, and who's going to bust and when works even better when I can calculate an immigrant. So that's how simple the economy can be. We'll be right back.

26:05Hello, Robert Cusack, the Rich Dad Radio Show. And today, I'm not coming to you from Scottsdale, Arizona. I'm coming from a place called Gainesville, Texas. And I'm a very special guest today. This guy is a godfather right now. His name is Rick Rule. And every time I see him, I'm in awe of how much I learned from him. And he's extremely respected in the mining field, gold and silver. my partner, Marin Katusa out of Vancouver, speaks so highly of Rick. And I last saw Rick, I think, in Rebel Capitalist. And now I meet you here. And Rick, it's an honor to have you on the Rich Dad Show. So thank you.

26:52Well, my honor, Robert, I'm a huge fan of that book, Rich Dad, Poor Dad. Before we went on the air, I said I sort of think it is the obligation of old folks like you and I to prepare the younger generation to teach them for the mess that we're leaving them in terms of the economy and the political economy. So thank you so much for just talking common sense to young folks. So just the reason Rick is so important is, I think with 65, I was holding up a half dollar, and it was no longer silver, it was copper. And as the Mexicans say, que pasa? What are they doing? and that was Gresham's Law. And then in 71, I was a Marine helicopter pilot, and we were flying out of Vietnam.

27:45And I went to buy gold behind enemy lines, proving Marines aren't the smartest guy on earth. And I walked up to this little, I was behind enemy lines. Rick, we disarmed, my co-pilot and I. We put our hands up and walked through the village. and we said, we don't come as Marines, we come as capitalists. We just want to buy some gold. And we walked up to this little bamboo shack and those little bit of the Maze woman was in there, teeth were bright red because of the betel nuts and gold. I had just taken gold off the gold standard. It was going from 35 to 50. So I thought I could get a discount.

28:30and i i got i got schooled right she schooled me she got spot with tell spot and she got spot so i didn't get a goal that day but also i'll but you learn a lot when you start doing stupid things i went to hong kong and i brought my first kruger rep from south africa and then i found out I had to smuggle it into the States. I mean, could you imagine that, Rick? I mean, that's how old I am. Gold was illegal for Americans to own. And then the last thing, Rick, I was coming out of Japan not too long ago, and they didn't care if I was carrying fentanyl. They wanted to know if I was carrying any gold.

29:19So it was a long way to introduce my friend Rick Rohl here. He's a guy I look to when it comes to information and advice and trends in the marketplace. So welcome to the Rich Generator Show. Pleasure to be with you, as I say. Those anecdotes are interesting because there are so many lessons there. The universal appeal of gold is a medium of exchange that's similarly a store of value. If you ever wanted to get rich quick, don't miss this boat. Do you know what I mean? It's shoving off right now. And if you're still saving fiat or fake money, like I hate to say this being Japanese, Japanese, they save cash and they love cash.