The Greater Depression Is Here

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0:35Fortunately, though, Mint's story is better. Every plan,$15 a month, even unlimited. That's it. Happy ending. Zero tears. Give it a try at mintmobile.com slash switch. Upfront payment of$45 for three months,$90 for six months, or$180 for 12-month plan required. $15 per month equivalent. Taxes and fees extra. Initial plan term only greater than 50 gigabytes may slow when network is busy. See terms. This is the Rich Dad Radio Show. The good news and bad news about money. Here's Robert Kiyosaki. Hello, Robert Kiyosaki, Rich Dad Radio Show. We're broadcasting from Phoenix, Arizona, where it's either heaven or hell, but lately it's been wet.

1:09I haven't seen so much water come down. People actually died in flash floods. So it's an interesting time of year in Phoenix, Arizona. 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 COVID hysteria, wasn't it? Anyway, it was good to go face-to-face finally. 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.

1:55And I'm helping him. This is his latest book here called The Preparation. And 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. No, it's because, Doug, you and I are soldiers of fortune. You know, we eat what we kill. And today I meet young men who are holding on to their 401K, sitting in mommy and daddy's basement playing video games. And this book, the preparation was written for them because I think they should go honies and go out in the world and become a soldier of fortune because it's a big, exciting world out there.

2:45You know, I was just in Zimbabwe last week. Man, it's exciting. And I think, wasn't it you? Was somebody like you who said, if you were 25 years old, you'd move to Africa or something like this? That's one thing I've been saying for a long time, actually, because I like to get honored. I don't like to be on a level playing field when I'm honored. I like it when the playing field is tilted in my direction. And Africa is that place where if you're an American, they're very interested in talking to you. And I've found in lots of countries that within a week or two, you can be sitting down with the president.

3:26You just have to have something reasonable to talk to him about. so lots of opportunities because you have more collection more connections more capital more expertise uh than the locals do so it can be a win-win situation if you're a young man and you look at africa but i guess that's one of the reasons i wrote the book it's 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 a cesspool and use that time to pick up skills and, in effect, turn themselves into a renaissance man.

4:16Yeah. I call it the sport of fortune. You can just go where you want to go and do what you want to do wherever you want to do it, you know? Exactly. Yeah. So that by the time you, if you follow the plan, the wheel layout and the preparation, you should be able to be airdropped in the Congo and walk out of there happy, healthy, and rich after a period of time. Yeah. And that's the way life ought to be lived. So if you're living in your mother's basement and you're a male under 25 and you're hoping your 401k keeps you alive, I would get this book immediately because you need it badly. It's called The Prep Rate.

5:01You better get out there into this world. It's a fabulous world. It's exciting as hell. Well, it's always fun talking to you, Robert, because I know you just came back from Zimbabwe. and the week after next, I'm going to Azerbaijan, which is another country that few people have been to or even know about. And then you live in Argentina, which is just beautiful women and beautiful leather goods. Your gauchos and all that are just incredible. What an exciting... It's a great country. It's almost half the size of the U.S., but there's only 40 million people. And it's a wide open country. It's like the Old West, from the glaciers in the south to the Andes to the beaches.

5:53It's a great place. Yeah. So get this book here. The preparation is called Become a Soldier of Fortune. You can go to a city like Buenos Aires, Argentina, which is so gorgeous. It's like a European city dropped in South America. and so, well, I've been to Cincinnati once, you know. I mean, gee, give me a break. I meet so many American men who sit in the basement playing video games hoping their 401k works. What is wrong with you? Well, I don't know. They're acting like houseplants, and acting like a houseplant 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 um 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 i 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 uh 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.

7:41And I think it's going to be much different and much longer than what we had from 1929 to 1946, 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? You know, if you save the dollar, America is printing$2 trillion a year, like Zimbabwe was. Yeah. 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.

8:36They'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. So 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?

9:36It's a tougher situation than people have ever been in before, I think. I think silver is still relatively underpriced. It'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 bother. 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.

10:22You can't believe the U.S. government's figures any more than you can believe the Argentine government's figures. the 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. It's true. This is an illiquid market. This is another question I want to ask you, because being in Argentina, this guy Javier Mille, you know, he took the chainsaw.

11:05When 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. But Doge just basically disappeared. and Trump is spending money like a drunk sailor at this point. So no wonder his relation with Musk is not what it once was. I'm going to correct you. Drunk sailors spend their own money.

11:42That'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.

12:35Like 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 on all of Argentina's foreign debts. Why? That money was all stolen by the previous administration. So you 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. Of course, the U.S. government doesn't have the money either. It's printing up the money. So, I don't know.

13:20Listen, I love Argentina, and it's 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. Okay, well, you and I understand ballistics fairly well, bullets. Yes. Do you think Trump and Elon backed off because of what they didn't want to happen to them, what happened to Charlie Kirk? Yeah, and what you just said is very apropos because, you know, the reporting of what happened to Charlie Kirk is so substandard. They just repeat the same thing over and over again. No new information, no explanation of what really happened.

14:18The only place you can see an explanation is on sites on the Internet. But as I look at that assassination, they say that he was shot from 200 yards away with a Mauser, 8mm or 30-06. But if that had been the case, I'm afraid Charlie's head would have been splattered all over the stage. But there was just a tiny little hole in his neck, and they can't find the bullet. So obviously it happened from near at hand. And where's the bullet? But in fact, where's the autopsy? There's so many things that don't fit together with this. It's like all of the major assassinations that we've had in the last, well, since JFK anyway.

15:04Yeah. Ladies and gentlemen, my friend Doug Casey, we've been friends for a long time here. I look forward to his podcast all the time because he's always got something to say that upsets people. It makes them think. Go think. What did he say? when we come back we'll be talking more to doug because he lives in a wonderful part of the world argentina plus uruguay i believe and now you're in the chesapeake bay area and uh anyway so we come back i'm going to find doug's point of view on what's going on inside america we've been right

15:43welcome back robert kielson the rich dead radio show i have a long time friend doug casey i listen to his podcast every week. Every week he says something that goes, what? What did he say? And it's always gets me to think. And I think that's what we need to do is think a little bit more today. I want to help him sell this book here. I looked it over. I haven't read it yet, but it's called The Preparation. Really what it is, is a guidebook for global capitalists or soldiers of fortune. Because that's what Doug and I really are. We're soldiers of fortune. We travel the world. We eat what we kill.

16:22We can make money anywhere we want to. And this is this book, The Preparation. It's how you prepare for a life of adventure. I meet some of the young men. They sit in their basement playing video games. What is wrong with the men today? I don't know. They don't even go out with the women today. Maybe that's because a lot of the women today have purple and blue hair and the values that go with that. I mean, they're actively dangerous hanging out with women like that. They're a liability, not an asset. So they're not attracted to women. You've got a whole class of young men that are termed incels.

17:09I mean, it's part of the sickness that's eating in America itself at this point, Robert. It really is. It's, you know, it's funny. It's not the land of the free and the home of the brave anymore. That's ancient history. That's what it used to be. But the country has slowly transformed, especially over the last 50 or 60 years, where it's become soft. It has no moral values.

17:45I think it's headed down the chutes, and I hate to say that because I'm a huge fan of America as a concept. The concept of America is the greatest political concept that ever was, quite frankly. But it's being washed away into a cesspool. So all you can do is, I mean, you can't go out and hope to change things politically because the political system is terminally corrupt. The system itself is very degraded at this point. So I don't believe in political solutions. It would be nice if one occurred. But what you've got to do is save yourself. And that's why we wrote that book, because it's a guidebook.

18:32specifically of what a young man should do to survive and prosper without doing the conventional stupid things that everybody else does. It's like I said, I meet so many young men, they're more worried about their 401k. I'm saying, what? They have no adventure in their souls. and I talked to young women and they're a little disappointed also. I said, what happened to them? And then my friends, I was a Marine, two tours of Vietnam and all that, so I'm kind of screwed up. But my friends who are still in the Corps, they said, we can't find men. They're having a hard time recruiting. Anyway, you wrote about the greater depression.

19:22We're of the generation now that's cruising into a bankrupt social security. Do you know how many baby boomers are in the world, Doug? Let me see. In the U.S. or in the world? The total world. The number of 2 billion baby boomers. That means there's 2 billion people out of 8 billion coming off the work line. I'm going, what is that going to do? Well, do they have enough savings to maintain them as their bodies start falling apart? That's what I mean. What goes up are your medical bills. Yeah. As six, they just skyrocket. On the bright side, maybe Elon Musk is right. And in 10 years, robots will be able to do most of what needs doing in the way of physical labor.

20:23And it seems like AI is already doing people's thinking for them. But I'm not sure you can trust AI any more than you can trust Wikipedia, quite frankly. Yeah. The other thing I heard is that there's 200 million Americans out of 360 million, almost 50%, 50%, who are on some kind of government subsistence. I think that's true. And I wonder how many Americans are sleeping under bridges and on park benches. Because you go to major cities and you see them everywhere. The number's got to be, I don't know. the numbers are unreliable. I mean, people want to report numbers for whatever political reasons they have, but there are hundreds of thousands of Americans that have nothing, not even a house, maybe not even a tent.

21:23So what's going to happen to those people? I mean, are we going to have to support them as their numbers double and triple and more? Thomas Jefferson warned us years ago, he says, if a central bank takes over, people will wake up homeless in their own country. And now homelessness is exploding across America. And we have a Federal Reserve Bank that everybody worships. And I'm going, are you kidding me? The Federal Reserve Bank's Marxist. and stuff. Yes, and they expect that, including Trump, I've got to say, he thinks that if the Federal Reserve just reduces interest rates and prints more money, then everything will be fine.

22:07Everything will boom. So he looks at the immediate and direct consequences of printing a lot of money up. Hey, I feel rich. I can go out and buy stuff. But he does not look at the delayed and indirect consequences. The currency becomes nothing. People's savings are destroyed. The bond market will be destroyed. The stock market, he doesn't look at that stuff, apparently. So, Mr. Casey, you talked about the greater depression. The numbers I have is the market crashed in 29. It took until 1954 for it to get back. I think the Dow was at$381 in 1929. It took to 1954 to get back to$381. And the dollars were only worth half as much at that point.

22:57So when you talk about the greater depression, what sits inside your head? What do you see? Well, most people's standard of living, I think, is going to go down a lot because the huge amount of debt that we have in this country today means that people are either consuming what past generations have created and borrowing that, or they're mortgaging their own futures going forward where their earnings are going to be tagged by all the debt that they're creating. So it's actually worse than one reason. It's going to be worse than what happened from 29 to 46 is that there really wasn't much debt in the world.

23:50There was no credit card debt. There was no automobile debt. There was no student debt. Not even mortgage debt. In those days, a mortgage was maybe five years. uh now today it's you know 30 years uh so that before you can start building wealth you have to get rid of the debt it's going to be very hard uh i think the how they're going to do it is the dollar is going to lose all value which is actually the worst thing that could happen that's why you know years years and years and years i've saved silver and gold you know i bought first gold in 1974 when it was legal it was the first time it was legal for americans to own gold i bought a south african krugerrand in hong kong and every i've always bought silver and now silver is used as an industrial metal so it's good but you and i You and I both, Robert.

24:59So it's really treated us very well. And I hate to mention speculations in public because most people are not psychologically suited and they don't have the economic knowledge to be suited to speculate and things. But I've always been involved in the gold mining business, which is a very leveraged way of playing gold. I know you are too. I hate to tell the average guy to get involved in that because it's so volatile and very risky. But, you know, the markets are going to be going up and down like an elevator with a lunatic at the controls in the years to come. So I think people are going to be forced to speculate whether they want to or not, whether they should do it or not.

25:49They're almost going to have to. Well, you can't hang on to that dollar. Because I was in Zimbabwe, I guess, last week. And that's what brought them down. They printed too much. By the way, this is my gold mine. I took public on the New York Stock Exchange. I'm not publicizing it. But that's real gold. It's an American gold mine. And the reason I stress that is the mistake I made as a soldier of fortune is my first gold mine was in China. You're hurting me. You're hurting me, Doug. Because you know what they did, right? As soon as you struck gold, they took it. You know, I don't eat Chinese food after that anymore.

26:35Well, you know, before I invest, you can't invest in mining stocks. Before I speculate in any mining stocks, there are nine Ps. It's a mnemonic that I use to help me remember these things. One of them is politics. You've got to pick a country where the politics are reasonably stable anyway. It's called country risk. How risky. Yeah, precisely. Of course, the biggest risk is the first people, the people risk. You need good people. Bad people can't possibly have anything good happen as a result of it. So we end with this class. On one of your broadcasts, you had talked about what was evil. Do you mind trying that?

27:20What is evil? Because that's what I see taking over this great country of ours. It really is. It's a word that people don't confront. It's something that they hear in church maybe on Sunday, but they don't have it defined properly. And I would say evil is purposeful destruction purposeful destruction of accumulated ideas and capital with the idea, with the intention of destroying them and making life worse. We could talk about this for hours and bring forward the definitions that have been used for evil in the past. But there are elements in this country that hate the country, they hate the ideas it's founded on, they hate most of the people or half of the people in the country, and they're actually evil.

28:28That's a word it's been discredited in some circles because it's used too promiscuously. To me, evil is when you destroy something that's doing good. Yeah. Charlie Kirk and I shared the stage together, and I liked everything he said, but I thought he had big cojones, big balls, but he got taken out. Yeah. It could happen to anybody, and I'm afraid that his murder is a potential turning point. People could start lining up on one side of the barricades or the other physically. Yeah. So, Mr. Casey, I thank you for being my friend for all these years, and I'm jealous that you live in that beautiful place, Argentina.

29:26You know, if you ever say this to Harvey and Millet, tell them congratulations. I hope Elon and Donald can do what he's done in Argentina. I do, too. Don't plan your life around it, but I hope so also. I hope we can get together sometime. I'd like that. I think when Doge, you know, with Elon and Trump stepped in there, I think their lives were threatened. because they're going to step on somebody's shoes, toes. Yeah, yeah, exactly. And who really controls this country at this point? I suspect it's elements within these 15 praetorian agencies that hang around Washington, starting with the people in the CIA and the FBI and the Department of Defense.

30:18And there's a dozen more of them, and they're all dangerous people. Yeah. So my friend, let's keep fighting evil and we'll see you on the block next time. So I appreciate your time today and sharing your right time. That's my pleasure, Robert. Thank you, Doug. And we'll be right back. I want to thank Doug Casey. He's been a friend for all these years. And please check, tune into his podcast because every time I listen to it, I go, huh, what did he just say? And that's what I want. I want somebody to go, what did he say? Because that's what we're here to do. Make you think. Thank you, Doug. Thanks, Robert.

30:59And we'll be right back with a final word from Rich Dad.

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