This is the rich dad radio show. The good news and bad news about
money. Here's Robert Kiyosaki. Hello? Hello. Hello. Robert Kiyosaki, rich dad radio show the good
news and bad news about money. Kim's not command the show this morning, cause she's on a call to
London and keep me keep those dollars. Keep rolling back into
rich debt. But anyway, we have, uh, I think, and all the shows are important, but a very important show
And it's about, you know, and my book fake I talked
to about there was God's money, which is gold and silver,
and then people's money, which is Bitcoin or cyber
cryptocurrencies. And I
really think is important, especially all the guys like me to
understand the crypto world because that's the world that's coming into a view
right now and us real estate and gold guys are kind of being phased
out. So we've had them. We've had them as a guest before it's
Anthony [inaudible]. He goes by pump. I call him Anthony and he has
one of the most fantastic shows going.
And the reason it's fantastic is
he explains the world of crypto better than anybody I've
heard. So in many ways, there's this battle on today between
all the guys and young guys and they all guys have got their heads
up their butts, you know, like buffet is add anti gold and add tie crypto. I think like give me
a break. You know, I mean, how can you be anti something? You know, get to know the pros and cons
of everything. And you know, he doesn't have to worry.
It makes a lot of money. And then you have guys like Jim
records, a friend of mine and he says, crypto is dead.
And so the reason I just love YouTube is
I can crank along there. I can search. I'm looking for the other point of
view and that's how I came across Anthony. And um, so Anthony's point of view is
valid it's worth listening to, so he was on our program
with, um, my good friend. I can't remember his name right
now, but he's new Orleans Gulf show. So I'm a gold guy and Antony is
they crept the guy and it was a great show because we have similarities. So we're going to go into the
similarities and difference between gold, silver God's money and people's
money, which is crypto. And so this guy is a leader right now, as far as I'm concerned of
explaining it to everybody. So welcome to the pro
program again, Anthony. Yeah. Robert, listen, thanks
so much for having me. And I appreciate the kind
words you, uh, you have, uh, educated millions and millions
of people over the years.
So, uh, so it's fun to talk to
you about this stuff. Yeah. And I'm, I'm talking
to the staff. Yeah. You young guys are so smart today. You're so far down the road when it comes
to financial education intelligence, but more importantly as
savvy, you're aware, you know, where they all guys are kind of close
minded to your world. So that's why, you know, your site, what is the name
of your site that people can go to? You just Google the pomp
I've got all, I think 300 plus interviews up there
and they can check that out. Um, or we've got a, uh, a daily email
that goes out a pump letter.com. Okay. So I look, you better check out this world of
crypto, even if you're close minded, like the old guys. Alright. So incident, give us a little buddy a background
and how you came into this world. And I may not as far as crypto. Yeah. So I, uh, played
football in college, uh, was
in the U S army for awhile. I did a deployment overseas
to Iraq. Um, came back, built two small technology companies, uh, then went out and ran a number of
product and growth teams at Facebook and Snapchat, and then started investing
full time at the end of 2015. And, um, got started in, uh, in Bitcoin
and cryptocurrency, uh, by building mining facilities. So kind
of using them as data centers, uh, but specifically running a
hardware and software for, uh, for running these networks.
And, uh, from there pretty much decided to focus
almost exclusively on it. And, uh, and we get here today where somehow
people are listening to, uh, to me explain what I would all
this is in and why it's important. So let me ask you this, you
know, you had the program, a open letter to Ray Dahlia,
which I thought was an lightening. It was fabulous.
What was the guy saying?
Robert, uh, rubber Breedlove. Gosh, you guys, right, man, you guys are
so young and far down the road, but that was an I highly recommend
you check out that show with Robert. It it's called the open letter
to rote Ray Dalio, the all guys. So what do you want to say to the
all guys, you know, get justice, you can be politically incorrect here. What is the old guys
who are closed minded? Well, so I think that when you've got to start
with is whenever you look at financial markets, especially a kind of a
macro economic standpoint, uh, there's problems and solutions, right?
And actually what ends up happening is, uh, precious metal investors
and cryptocurrency investors. They actually agree on most
of the problems, right?
So there's no secret that, Hey, look, if you print a lot of money,
the currency gets devalued, right? There's no secret that there's high
level of corporate debt and the federal balance sheets out of control
and all of those things, uh, for the most part there's agreement.
So I won't spend a ton of time on that.
The question then is what do you
do? Right? And I think that, uh, where there's agreement on the solutions
is this idea of sound money principles, right? And so whether it's
gold, silver, or Bitcoin, they all have various aspects
of a sound money principles. The big question just
becomes, you know, gold has, let's say 5,000 years of a track
record. Bitcoin has 11 years. So of course there's going to be a
hesitancy when it comes to something like Bitcoin, my kind of
pitch to people is look. The one thing that, um, has
a, uh, uh, an advantage, I think from Bitcoin or the most
important advantage is there's full transparency and the
verifiability of Bitcoin. So, you know exactly how much exists exactly
how much it's being produced every day and kind the supply side of the supply
and demand equation is known with 100% certainty. And so it's just a matter
of a generational divide, right? Older folks, usually aren't used to kind of
touching all the digital technologies, younger people are.
Um, and, and
so you kind of pick your asset, but they both have sound money principles, and actually think both of them
will do well coming out of, uh, out of this economic crisis. Thank you know, fantastic.
You know, for all guy like me, it was seven 1971 when Nixon took
the dollar off the gold standard. And that's where you and I align up
is because when the dollar went off, the gold sat on August
15th, 1971, you know, they could print as much as they wanted. And today they're printing and trillions,
you know, before it was millions, then I went to billions and now as
Chileans, and just a couple of days ago, the mall of America, one of the biggest
shopping centers in the world just said, they missed two payments of one point
$2 billion a month match having a market of 1.2 billion.
they miss two payments. A question is who were
those payments going to? And who's going to bail them out.
And the fed has to bail them out. In my opinion, they're going
to have to print more money, which are great with that theory. Yeah, absolutely. I mean, look, whenever you get in these situations that
there's two things that are important to understand, right? I always say that the us economy is
addicted to stimulus the same way that a crack addict is addicted to crack, right? You literally can't function without it. And we saw that when they tried to
do some quantitative tightening, um, you know, back in 2018. And then
the second piece of this is, uh, any time that you get into
these recessionary periods,
they only have two tools, right? The central bank can only, um, manipulate the interest rate
or they can print more money. And so they're using the tools they have, but they've already gone
to 0% interest rates. They claim they're not
going to go negative. So it's just a matter of how
much do you print, right.
Well, wait, so let, let let's,
let's go bigger picture. You know, I think most people know that they just
don't know what to do and they don't know why you guys younger guys
so enthusiastic on crypto. I mean, even Max Kaiser, he's
not as young as you guys, but he calls himself the
reincarnation of Satoshi. I just had just crack. He's not
even Japanese. I should be Satoshi. But the thing that really, really
woke me up and I was thanked too, thanks to you. Cause I call Antony when
I have, you know, confusion on stuff. Was this halving now, the reason halving as important is
because at the same time this get this, this is why I converted over
This is my reason. And it was Anthony that cleared it up for
me is that at the same time, the Fred, the Fred, the fed is printing
trillions of dollars. Bitcoin is tightening. So Bitcoin is getting harder and
the dollar is getting softer. Would you go into more detail on that? Yeah. So if you take quantitative
easing, right, that is literally, uh, the fed printing money and flooding
the market with more dollars, right. It creates, uh, a higher degree or a higher number
of circulating supply of dollars. So that's quantitative easing. Now the opposite of that quantitative
hardening or quantitative tightening would be them actually taking dollars
out of circulation. Right? And so what ends up happening in
Bitcoin is something that looks like quantitative hardening.
So there's 21 million Bitcoin that have
ever been created every 10 minutes in the beginning, 50 of them were
distributed into the circulating supply. That programmatically was cut
in half, four years later. So after four years of 50 Bitcoin,
every 10 minutes, it got cut to 25, it then went for four more years
and then got cut to 12 and a half. And just earlier this month in may,
it went from 12 and a half to 6.25. So the way to think about
this is, uh, previously, um, earlier this year there's 1800 Bitcoin
a day that was getting created and entered into the circulating
supply. Now there's only 900.
So if you think about the opposite of
quantitative easing is quantitative hardening. Literally you're getting a artificially
capped supply that is becoming harder and harder to get on a daily basis. And so as long as demand stays the
same or goes up for that asset, the U S dollar value should appreciate.
And so the key piece to this again, why are young people gravitating
towards this asset is one it's programmatic, right?
Compare that to the fed. People are betting trillions
of dollars in the market on, are they going to print
more or are they not? What's the interest rate
decision going to be right. All that kind of stuff with Bitcoin, we know with a hundred percent
certainty what's going to happen.
And then the second piece is
that it's programmatic, right? So nobody can go in and manipulate
it. And so in a world where, uh, any TV station, you turn on, everyone's arguing over what the
Fed's doing right in this world. Nobody can manipulate the market, right? There's nobody who can change that
programmatic monetary supply schedule. Well, so, so let me just let me,
he goes all guys' language here. The fed has centralized banking. So central is also communist
in command and control of a central government. That's communism. Whereas what Bitcoin gold
and silver are they're there. They're not controlled by anybody.
So one of the reasons back in 72, when I started buying gold was
because the fed couldn't mess with it.
They do mess with it to some degree, but
they can't print a lot of it, you know? And that's what I don't like
about saving dollars. So when, so explain why it's programmatic,
but why I call it people's money? Because this, no, that's not
one personal like Jerome Powell, the fed chairman who can say today is
going to do this tomorrow is going to, it's already been planned out
for years. Right? Exactly. How many coins are coming out. Yeah. I mean, look, if you look at,
let's say the ECB board of governors, there's like 25 people that go in
a room and make a decision, right? The fed think it's about 12 people go
in a room and they make a decision.
And so, you know, I, I've
got a friend who he says, there's 12 people making the decision
for a minimum of 330 million people's money. Right. It just kind of
doesn't sit well with younger people. And so when you look at something like
Bitcoin there's computer code that was written, that computer code can only be
changed if more than 50% of the people on the network, agree
to change it. Now, as you know, when you have millions of millions of
people who are all trying to coordinate something, nothing gets done.
Right. And so that code's never going to get
changed. It's going to stay how it is. And if there was a change, everyone
would see it happen. So you not only get. Absolutely decentralized. Completely decentralized. They all guy system is centralized
and a bunch of all guys control who gets the cash. Right? Yeah. And, and, and a
way to look at it is, uh, the us dollar is a sovereign
currency. It's backed by a, by a nation and every nation has their
own currency and they're all manipulating them.
Right? We're seeing
everything across the world. Everyone's manipulating their currencies. Bitcoin is the separation
of state and money. It's the first time we've
seen a currency, right? Outside of something like gold,
right? Where now all of a sudden, no single country can
manipulate the monetary policy. And so what I think is going to happen
over time is every currency will be digital. There'll be a digital dollar,
digital Euro, digital yen wan, et cetera. So the technology will all be the same. The competition will happen
at that monetary policy level. And I personally believe that the
separation of state and money will become viewed as the superior monetary
policy, just as gold for many, many decades has been seen as the superior
store of value because of those sound money principles. Correct. And the point here is that when
we get, we're going to call it a break, but this whole bunch of stuff I've
got to understand here is that, uh, when thinking when the United
States comes out with a crypto dollar, that's the
question I wanted to, and I
talked to you about labor.
I think what Facebook is doing, and
that's why your program with, uh, Robert Breedlove and your open letter
to Ray Dalio. I recommend everybody, you know, tune into your podcast
station and listen to that, um, program. I mean, bread love,
just nails it out. I mean, he just, and it takes a while. We only,
only have 40 minutes here, but raw Breedlove nails it. And he explains why Bitcoin is superior
to all other cryptos coming out. Cause that was my biggest concern
of if you can print a crypto, why can't I pre print a crypto? You
know what I mean? This is decentralized, but it's again, printing
money. So we come back, we'll be going more and with Anthony
Pompliano and really why you all guys go out, listen to what he's saying.
That's really why gold, silver, and Bitcoin are what I safe.
And because I don't trust my
government, we'll be right back. Welcome back. Robert Kiyosaki,
the rich dad Radio show, the good news and bad news about money.
You'll listen to the rich diet, ready? Approximate of him anywhere on iTunes
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our programs are archived at rich dad, radio.com. We archive them for one reason. We make no recommendations that when I
recommend you buy goals over a Bitcoin were purely educational, but
being educational. We all, we also know that repetition
is how we learn best. So you've listened to this
program. One more time, your intelligence will go twice.
You'll understand this better. Why you should maybe be considering
Bitcoin, if you already, haven't also, you can
have your friends, family, and supposedly business partners listen
to it because all of you guys out there with taking those stimulus
checks and saving it, you're the biggest losers on planet earth.
So I guess today is Anthony pump
Liano and he is the pump. And he is, he is my go to guy when
I want to understand his, the young guy's world of
Bitcoin. So really quick, let's get into this because
again, your, your, your program, Open Letter to Ray Dalio in great love, you did a fantastic job of taking
very complex and dumbing it down. An old guy like me could understand
it, but what's going to happen. If the U S comes out with a crypto and
Facebook art, it has laborer. What's, what's your, what goes through your, yeah. So first of all, every country
is going to do this, right? They're already talking about
it at the central bank level.
So we're going to see a digital dollar
digital Euro digital yen won all the way down the line. Every currency
will be digitized over time. And that's because there's certain
advantages from a technology standpoint, right? Cheaper. It's faster to
move all that kind of stuff. Not only that will we see
nation States do this, we will also see corporations do
it. So Facebook obviously has Libra. Others have contemplated and
will launch their own currencies. The competition though is not going to
be between digital currencies and non digital currencies. Everything's
going to be digital. The competition is going to be
at that monetary policy level.
And so when the dollar is
released as a digital dollar, the monetary policy doesn't change, right? They're still going to
have an inflationary, quantitative ease and driven currency. When Libra launches Libra now is actually
launching a digital dollar digital Euro, et cetera. So they're going to adopt the
monetary policy of different nations. The only monetary policy
that is in direct contrast, meaning it's 180 degree difference from
the digital dollar or the digital Europe is Bitcoin. It's a
separation of state money. It's a deflationary structured currency
that has a disinflationary monetary supply schedule. And so what
you're seeing is this great divide. And it frankly happens somewhat
in a generational divide, but also in kind of an economic
divide where people are saying, I want to have a currency in which
it gets more valuable over time, rather than less valuable. And I want the transparency
and the predictability of
a monetary policy that is written into code rather than 12 people
go in a room and they make a decision based on how they're
emotionally feeling that day. And so that's why your program with
Robert Breedlove the open letter to Ray Dahlia.
Please listen to it. Cause it's
really well done extremely well done. So why are you so bullish
on Bitcoin if this Ethereum and other, the garbage going around
there and everybody's getting
into it. And you're like, I was watching this one guy, he says,
everybody's now jumping on the bandwagon. This is the hot, new coin, hot new
coin. When you see stuff like that, what goes through your head? Yeah.
So I think that there's, um,
a really, really key piece, right, is there's all these crypto
assets or crypto tokens. There's actually a very small number. Number of them that are trying
to be money or currency. Most of them are trying to be, you know, digital gift cards or access to
different networks and kind of all this, you know, super exotic type
applications of blockchain. What we're talking about here is money. And the key piece of understanding
money is it's a belief system, right? So the only reason why somebody
accepts a dollar from me is cause they, and I both believe that it has value well, when it comes to digital currencies and
kind of this separation of state money, there's really only one that
matters and that's Bitcoin.
And the reason why it's the only one
that matters is it's the first one that people have bought into
that is fully decentralized, that has no owner and is
transparent and programmatic. And so my belief is that if
Bitcoin is not successful, right, if is separation of state
and money does not work, there will never be a
separation of state and money. And the reason why I say that is
because money is a belief system. And so just like, if you're, let's say a citizen in Zimbabwe and
your government blows up the currency, and then they come back and say, Hey,
Robert, you know what? Sorry about that. Here's our next one, right? Here's V
You don't say, Hey, I trust you, right? You're like, I'm not
falling for this trick again. So same thing here I think is Bitcoin
is the first one to really capture the belief. And that belief
system is the most important, most defendable thing
around Bitcoin. And so. So let me go into it one
more time because you guys, Robert Breedlove and
open letter Ray Dalio, you guys go into that with precision. So you explain to me how they can
go and pick up that site, that, that very explanation that
at one broadcast of yours. Yep. So if you literally just
Google, uh, the pomp podcast, um, and then just type in a Ray Dalio, uh,
it'll come up as the, as the title, you click on it and listen to it.
Um, and we basically covered the, uh, the idea that, uh, look most of the
smartest investors in the world.
They're like 80, 90% of the way there.
We agree on all of the problems, right? Everyone who's now asking,
what do I do five years ago? Nobody was saying Bitcoin. Now
there's a couple of people. Right? Paul Tudor Jones recently came out and
he took 2% of his assets and put it into Bitcoin. Right? So you get
some of these people doing it. My guess is five to 10 years from now.
It will be what I call a consensus, uh, investment. Right, right now it's
contrarian, small number of people do it. The majority doesn't
do it over time though. I think that'll flip and you'll have
the majority of people doing it. And then you'll have a small
minority that doesn't participate. Okay. So this is my bitch.
Okay. Paul Tudor Jones, people may not know who
he is, but he is like, he's bigger than Ray Dalio in my book
down, it may be a richer, but tutor jump.
Paul Tudor Jones is a stud man. He's
a smart guy, kind of low key. And, um, he's a billionaire high, can he
buy 2%? You guys, I go to Coinbase, which you guys recommend this. I go to
Coinbase and they limit me to 25,000. Why do they do that? I mean, guys like
me who want to move a lot more money, 25,000 is boring. I mean,
why do they, why, why are, why is Coinbase doing that? Yeah. So, uh, Paul Tudor Jones, he's
got about $5 billion to his net worth. He managed about 22
billion. So estimates are, he's probably put 250 to
$500 million in, right. So. $5 A shot, man. No way, no way. So, so there, there's
a number of ways to put really, really big money, hundreds
of millions of dollars.
You can do it through OTC
desks and things like that. But for the average investor, what you can basically do is there's a
number of exchanges in the U S where you can go, you can sign
up for an account, uh, and they basically start
you off with a small amount. And then gradually you can, um,
ask for higher limits, right? And the reason why they do that is
because this is very similar to the traditional banking system where
there's a lot of regulation, right? So people think that crypto
isn't regulated these
US-based exchanges companies like Coinbase, Gemini crack
in block five, et cetera. They actually have very, very
high levels of regulation. And so they're there to do KYC and AML
and kind of make sure that there's no bad actors. Um, after you are able
to get that $25,000 limit, you can apply to get it higher and higher.
Uh, so that's what people should do.
Okay. What's, what's KYC AML. Uh, KYC and AML is a know your customer
and anti money laundering, uh, rules. So it's basically the, uh, the
legacy financial system, uh, as part of their surveillance of the
financial system and of citizens. Now they require this
information, uh, for, uh, banks or financial institutions to know
about you. So they know who you are, where the money came from, and just basically make sure
you're not doing bad things. Well, because, you know, uh, Bitcoin got the reputation
of being associated with
silk road early in the silk road was the dark side of the web. Right. Has that been cleaned up or is that
still exists? Uh, saw was existing, but. Yeah, so here's the way I think about
it, right? So there's two key components.
One is every great technology is first
adopted by criminals and drug dealers. Right? And, and the reason why I say that is because
they're the ones who are always having to innovate to stay ahead of the law
enforcement, right? So beeper cell phones, the internet, all that stuff was first
adopted by kind of the bad actors. And then it became mainstream,
no different with Bitcoin, started out with bad actors to some
degree, and now it's become mainstream. But the second piece
is also, don't forget, there's $2 trillion of the U S dollar.
That was money laundered last year, right? That's the estimates
out of the UK. So $2 trillion, the crypto market cap is
less than 400 billion, right? To give you a sense of the bucket.
So, you know, an asset like Bitcoin, that's called 200 billion or so,
Literally is one 10th. The size of how much us dollars
is laundered every year. And so when you start to look
at this and it's like, look, let's worry about that. You know,
checking out all those bad people, using the U S dollars rather than the
couple of bad actors that are using big. Good point. So we weren't going
on a time, but what would you, what other reasons would you
say to people young and old, why they better understand Bitcoin, especially because I kind of
your program on pop podcasts with open letter, a Ray Dahlia with Robert
Bray love explains it much more detail, but what else would you say to
people why you're so bullish? Oh, one more thing is what is your
prediction on the ultimate dollar value of a Bitcoin? Just finish
this thing up strong man, D a sales job.
So they looked at the whole pitch, I think behind Bitcoin is you have
to understand how money works, right? And the us financial system is
predicated on 50% or more of people not understanding how money works. If you
understand how it works, you know, that the dollar is going to
get less valuable over time. Bitcoin has the exact opposite monetary
policy and should get more valuable over time. So once you understand that, it's pretty simple in terms of what
that price looks like. You know, I'm on the record publicly saying that
I think Bitcoin will be worth over a hundred thousand dollars
by the end of 2021. So you're, you're expecting
a 10 time jump on it. Yeah. And, and, and that would track to a very similar
growth rate to what it showed over the last 10, 11 years. Right? So, so anytime you have something that's
very innovative and disruptive, you get lots of volatility. If you are
a longer term investor, you've got, you can stomach those big drawdowns, but you also get the volatility to
work in your advantage on the way up.
And so I think that's what
gonna happen with Bitcoin. Okay. Anything else you
want to, I'm just this big, the big thing that you saw me on, which
I didn't understand what the having, Oh, I call it the hardening while the dollar
and all currencies are softening any Fiat car, fake money is softening.
Anything else that we should know about? I think the biggest thing
is, uh, a lot of, um, understanding money and currencies
is just around the structure. It's actually a very simple one.
Currency gets less valuable over time. The other gets more valuable over
time. And, uh, you know, look, don't go take all your money and
go put it into one single asset. But if you size the risk
correctly in your portfolio, uh, I think that it can be quite
valuable. And so, you know, risk comes with every investment,
do your own research. But, uh, but I tend to think that
Bitcoin is going to, uh, be, be kind to a lot of people. So let me ask one more question that why
do you call it? Why do you say 100, uh, records has the reason and goals going
to go to 50 K what's your reason for Bitcoin going to a hundred K? So there are many, many people
who are way smarter than me.
And what they've basically done is they've
taken stock to flow ratio models that you would use in the gold world, right?
Similar with the sound money principles, and they've overlayed it with
the Bitcoin price movements. And what you find is over time,
it's become more and more accurate. And so if you think of what is that goes
into that you basically are modeling supply and with gold, you pretty much know how much
gold is coming online every day. You pretty much know how
much is out there. Uh, and then you predict what demand will
be well with this. What you're doing is, you know, with 100% certainty the
supply side, so you have to protect, uh, the demand side and that stock
to flow ratio has been very, very accurate in the past. And that's basically what
tells you by the end of 2021, you'll see a hundred thousand dollars.
Nice. Got it. And the reason I
really, I enjoyed that program, we'll pull out a Ray Dalio as you point
out that you just put Dalio principles back on them, you know, like transparency and trust Sen
ruthless, truth, telling whatever it is. You guys just put it back on him
and wait. You know, I, I really, um, it was eye opening, Palm podcasts.
So anyway, and I, Anthony, thank you very, very much
for your support and, uh, look forward to have you
back on the program again. Absolutely. You did a fantastic job,
Robert. Thanks so much for having me. And we'll come back. We'll be
having a final words on gold, silver and Bitcoin God's money and the
people's money. We have a right back. Hello? Hello. Hello, Robert
Kiyosaki, the rich dad radio show, the good news and bad news about gold
sovereign Bitcoin. And once again, listen to the rich dad radio program,
anytime, anywhere on iTunes, Android, or YouTube or YouTube.
leave a comment when you listen. All of our pro programs are archived at
rich dad radio because repetition is how we learn. You listen to this program
again, you'll learn twice as much, but more importantly, you can
take this to a friends, family, and business associates who really need
to come up to speed on cryptocurrencies. Because, you know, as an old guy,
it's taken me a while to get onto it. And you know, I never got
burned, but at one time I was, I bought three Bitcoin at 20,000
each at the top of the market. And thank God. I don't know what
happened to the guy I bought them from, but he disappeared.
So I never transacted.
So I still have by 20, 60,000 bucks, but I'm back in buying it because
Anthony Pompliano is the person I call. And again, in his pomp podcasts.
And that Open Letter to Ray Dalio with Robert Breedlove is worth listening
to because this guy braid love his boy. He's he technical on this stuff.
And it's very simple to understand, but I've now gone through it three times.
I'm still doing my best to absorb it. So anyway, we're an education company. So I could complete this
all per wants to go. And Kim is on a phone call to
London, organizing people there, but I'm the old guy who was in 72. I started buying gold and millions today. I just keep buying it because I don't
what happened in 71 is I stopped trusting the U S dollar because it's fake
money. When Nixon took the dollar off, the gold standard became
fake. But other side of it, as I've always worked on my financial
education, I don't need money.
And we have a new book coming out. This fall is called infinite
returns money for nothing gold, silver Bitcoin for free. Cause
that's what's happening. Guys. Money is for nothing today, you know, with SERPs or interest rate policy
and a printing, trillions of it, why the hell you working for it? Why
are you saving it? So that it's a book, infinite returns watch for it as
probably late October, early November, infinite returns all my
advisors on it.
Kim's on it. And we're talking about
how we individually come
up with infinite returns. You'll never need money. It really
is the strangest phenomenon. The very spiritual book I get. I get excited when I think
about making money for nothing. Now there's sound by dire straights
money for nothing checks for V. They both appeal to me anyway.
So, uh, I'll give the all guys, what I was taught about
money. Money is number one, a unit of account that what
that means you can count it. Like I couldn't count gold nuggets
because they're gold nuggets. But when they broke a goal gold into
a crook around the U S a U S dollar, he was sold, what do you
call them? Anyway, Mark, you could measure it.
was the biggest thing. So a gold nugget not worth much, but when you break it down to
a gold coin or a silver coin, it becomes more money. Another
thing is a store of value. And that's the biggest thing that Bitcoin
has because of the having, you know, they're making it harder while the
dollar is technically getting softer and the condition for money's exchange
ability. Now that's the limitation. In my opinion, just my opinion is
with Bitcoin is as hard to exchange. I can't go to the supermarket. I got
some Bitcoin. They don't take it, but more and more people
are. And I think they will. I I'm quite sure they'll
solve that problem way. Be able to take a fraction of
a Bitcoin and say, you know, here's one 10th of a Bitcoin. Just
buy him, buy me a car with it, but that's coming.
So the three things I make up money at
unit of count or unit of measure store valuable and it's exchangeable.
So there is an I'm into gold, silver and Bitcoin for all three,
but the most important things, a store of value, as I
said earlier, you know, just the JC Penney's is closing
Neiman market declared bank bankruptcy. The biggest
mall, the mall of America, miss to market payments want to
one point $2 billion each at, whereas that was a 1.2 billion
supposed to go to, you know, who's, who's got screw got screwed, and who's
going to bail them out as the fed, they're going to print more
money to bail them out. So that's why I don't trust the U
S dollar. If you understand that, you'll understand why guys like
me are gold, silver, and Bitcoin. Now this other, they gone
print a lot of other clients, but that's why you got to be prepared.
Cause as anywhere, any place, any subject, there's a lot of facts,
crooks and scumbags out there, thankfulness and the rich dad radio show.
And thank the Anthony pomp
Liano and the pump podcast..