How to Get Rich During an Economic Crisis! - Robert Kiyosaki

so when people say are we going to get inflation or we going to get deflation the answer is we're going to get both and we're going to get them both at the same time in my opinion and so everything that Robert opened up with in his opening comments is spot on and I really feel like people should take and watch this like five or 10 times and really break down the things that Robert said and is saying hello and welcome to Rich Dad world thank you so much for tuning in for being with us we

have an highly esteemed panel of investors and what I would say are real teachers not fake teachers real teachers and these are people who are practicing what they preach and what they teach so we've got real we're going to talk about real estate we're going to talk about cryptocurrency we're going to talk about the economy we're going to talk about inflation um there's a lot on our plate today and we're gonna we're gonna it's going to be a Jam full session so thank you again for being with us thank you for valuing your financial education

as we say this is the most important thing most important asset you've got is right between your ears so thank you for being a part of this uh program and uh look forward to bringing some value your way and with that I'll turn it over to Mr Roberts well thank you uh my contribution to this program I'm I'm glad we have our panel today because simply said the um people talk about inflation and all that and it's it's not true that's the problem with it and what is happening is is that there's macro economics and

there's microeconomics and there's mini economics and I would say 98% of the people are in mini economics and so what Rich Dad World stands for is what I consider real Financial education and so I don't I don't blame people for getting all excited and saying you know I bought Bitcoin at a penny and now it's I'm a multi-millionaire and you we all dream of that just like saying eat this eat this food and you'll be you lose 50 pounds everybody wants a quick answer to life and as Kim was saying that's really not where rich

dead stands it's it's about constantly updating the real estate between your left year and your right ear and most people's gap between the left ear and the right ear is just as little p brain sitting there just tell me what to do tell me what to do and so the people that are in most trouble today are my generation Baby Bo generation because they have got no brains they listen to people who are idiots who told them to go to school get a job or card save money get out of debt pay your taxes and

invest in the long term for the stock market and I think most of you know that's the Gen the baby boom generation had the easiest of all generations in history and they're about to get screwed and that's why I wrote the book you know who stole my pension with T sedel so if I could explain something really quickly the reason I talk about macro versus micro and mini uh I do have some Bitcoin and Kim and I do a couple of million of that and we had to have ethereum but my fortune isn't based upon

that and so most people get so excited about what's the price of Bitcoin and they missed the big picture so in the macro world what happens is when there's a thing called quantitative easing or money printing what that does cause it causes inflation in the monetary system in other words real estate and stocks go up in price but what it does it's cruise to poor people so if you don't have you know all you have is a stupid job and uh you have a 41k you me screwed left and right so the gap between the

rich and poor is wider than ever before the frightening thing is this with guys like jeck w I'm glad you're on this program and the real estate guys are on this program because we're at opposite ends of the spectrum on the big picture so if there is a thing which I've been studying lately is called gov coin if there is a fedcoin uh we're all screwed because what happens with printing of money through the FED it cat it causes asset price inflation which is why bitcoin's doing well if the government gets upset and say well

these guys are stepping on my Cape here and they they produce uh fedcoin we go to we don't the the trouble with printing of money is we're going into a depression so please hear that we're going into a depression and so when they have quantitative easing they're trying to prevent a depression and the trouble with printing money historically is when you print it there was a short burst of inflation and and we're such a we're in such this period right now you know real estate prices are up stock prices are up and all that's good

but it's only shortlived and then it slides back down into depression so they're trying to stop a depression and it's called the transmission of money so it's like i' giv four gears to a car I know I know everybody knows this stuff but it's so obvious when they print money they're trying to prevent the depression but we're going into a depression anyway because it doesn't fix it and the problem with that when you print money it only makes investors richer but the workingclass guys the guys who work in my yard I feel for them you

know they're getting screwed left and right because they're working for money that was rich dad's rule number one don't work for money because money is corrupt so they print money to try and prevent the depression but the average guy can't even get a credit card or they have a student loan debt and that's because with no Financial education in school the only reason the economy expands is we have to have debt and that's that started in 1971 when Nixon took the dollar up the gold standard so here we are 50 years later and it's not

working you know when when I when I came out of school I think the debt the GDP ratio was only like 20 to1 20% today it's 140 % we're bankrupt now if they this where Jeff Wang is important if they go to fedcoin because guys like Jeff are messing with the FED then we go to What's called Gram's law kicks in and we go to hyperinflation when we go to hyperinflation that led to Adolf Hitler the wear Republic led to maave in Zimbabwe and and um what's his name pel Castro and what's happening in Venezuela

today so Jeff is important to listen to Because if they go to fedcoin we're all we're all dead anyway but it's going to make gold and silver and income producing assets even more important so I I know most people know this but if they keep printing money the inflation is short live but it's only in people who can get debt and for people like Jeff who invest in assets that go counter the dollar like Bitcoin in ethereum and all those fake coins that are out there so I'm what I'm watching right now is so today

the debt the GDP is about 140% every time they print more money all that increases is the debt but the economy gets worse that's the trouble of what Baki started with quantitative eing so we're at the crossroads and the reason Financial is more important before you've really got to have a bigger picture on what money is and so the real estate guys with Kim and I love the real estate guys is because it's debt and the more debt we have the more we borrow the less tax we pay so anyway that's kind of the big

picture of money so real estate guys are at one end Kim and I don't have stocks because we don't need stocks you know we can what we read Rich Dad Poor Dad said assets put money in your pocket Kim and I are always creating our own assets I don't need to buy stocks bonds mutual funds ETFs so that's why your financial education is more important but it's I would suggest getting the macro not the mini so we're at a very crucial turning point in the world economy and the question is if they keep printing money

we have a short burst of inflation but it makes it harder on those who are stupid enough to go to school and get a job and work for money and for people who use real estate using debt and paying no taxes and creating our own assets like richad is an inter International brand it's an asset so as they keep printing money all that happens is the debt the GDP ratio is now 140% we're bankrupt that's all it mean that's that that's like me means you make you make $1,000 a mon mon but your monthly payments

are 1,400 a month that's basically all it means and it's going to get worse next year so that's what happens when quantitative e comes in they shift they shift through fedcoin it's hyperinflation so we're fighting a depression which is why there's quantitative easing but if they switch to fedcoin it's hyperinflation that's the Yar Republic which brought Hitler to power so that's why you should listen to Jeff Wang the real estate guys and all that because it's really a bigger picture I'm an entrepreneur I can make my own assets I don't need somebody else's assets so

Kim and I make our own assets and we buy real estate because the banks will give us as much money for debt and the more debt we have more real estate we have no taxes but those are the differences and that's real Financial education there's no free lunch out there and the average person is so eff and lazy this want to be told what to do oh should I buy Bitcoin TR to buy real estate shut my own company you know she'll go to school she'll get a job she'll become a doctor but they don't

they miss the big picture so that's basically my message so rich dad has always been about the big picture thank you hi folks Rich pontre here from the rich dad team and let me tell you I can be more thrilled about the landslide win Donald Trump is back in office and we've got both the house and the senate in our Corner that's huge but let's get real for a second while the victory is sweet the challenges we face as the nation are nothing short than Monumental we've just come out of four years of economic chaos

think about it the dollar has lost value inflation runs rapid interest rates are through the roof our national debt is out of control and Wars rage around the globe Donald Trump has inherited an economy that's a total mass and the burden to rebuild it is immense now let's be honest this isn't going to get fixed overnight and even as we work to restore order the cost of rebuilding will be steep printing more money to address the issues ongoing assaults from bricks Nations on the dollar and even climbing National debts are massive concerns here's the deal

your savings aren't in the cleare they're vulnerable to these uncertainties and let me tell you gambling with your wealth right now is not an option in these last few years that taught us anything that we need to take action proactive steps to protect what we've worked so hard hard to earn that's why Rich Dad is partnering with Allegiance gold a company that we trust to protect your financial future gold and silver are Timeless ways to hedge against economic chaos they're naous Investments they're peace of mind for your wealth here's a kicker when you start your

investment with the legion gold today you'll even get free silver as part of their exclusive offer just mentioned Robert sent you and they'll take great care of you folks now is not the time the S of the sidelines today secure your wealth go to protect withth robert.com or call 8443 Robert that's 844 376 2378 and let them of you get started today so with that um if we could have uh Jeff Wang and then Robert Helms and Russell gray introduce yourselves and give us a little bit about your background what you do and what you

see happening in your sector being cryptocurrencies and being real EST state that would be fantastic so Jeff do you want to start sure thing yes I'm Jeff Wang I'm a host of the rocket fuel crypto and Rich Dad crypto and uh part of a team called Rocka Fiel that invests in a lot of these startups in the crypto space so we're like really deep in the weeds we're like playing with the different decentralized apps we're talking to the CEOs of these companies uh and then doing a lot of the research and then putting that onto

the newsletters that uh we we hopefully get the community up and up to speed as to what's going on in crypto and uh I can go on for hours on what's going on in crypto right now um but I think the key points are that there is like a retail hype that's kind of getting infused into crypto right now whether it's Tesla and Elon Musk tweeting about DOA coin um or like Saturday not Saturday Night Live is doing like nft videos right like they're showing crypto stuff so like crypto is in the news every single

day and everybody is kind of in this um like ideal state where Enterprise wants to buy it and then uh retailers think it's like the the thing is going to go to Infinity it's going to go to $1 million right so there's there's this distinguishing thing between retail hype but and then steady state and then right now retail hype is starting to falter right you have like Tesla saying I don't want to accept Bitcoin anymore and then that's because of the environmental impacts and then you have square saying oh you know what same thing we

don't want to buy Bitcoin anymore either so you have all this news and then China says well we don't want to do any more Bitcoin mining we don't want financial institution trading any cryptocurrencies you know coincidentally as they're releasing their digital currency um so all this crypto sentiment has flipped to bearish right now in the short term and I think right now we're getting to the levels before the retail hype so I think we're we're almost at that point where it's okay we're almost back to steady state um but that that's my perspective as kind

of a I guess two-minute summary of what's going on in crypto right now it's kind of like the like the stock market I mean they had they it's all based on emotion and and hype and PR um but there's really no basis for so much of that so is that is that very similar to crypto it's probably even worse because uh so speculative that there's no other fundamentals backing price and valuations so any tweet can quickly flip the emotional or the sentiment on any currency so you see these swings we used to see like 30

to 50% swings on a daily basis now we see like a 20% swing everyone panics and we're like well it's crypto that's just how it is uh and then people just need to be aware of that but that's but that's like anything Jeff if you look at what uh what happen with GameStop and then there they tried to short squeeze silver and all this it's all man it's 100% manipulated and everybody sits there and when I talk to people I say you basically have two choices you're GNA be sit there and be told what to

do go to school get a job or a card save money get out of debt pay your taxes and invest for a longterm in a 401k which I would never do or you can study so the the only question is next is there going to be fed coins that's what I'm want you the rest of you are everybody else is toast unless you're somewhat smart yeah and you know one of the reasons we've got to your point Robert why one of the reasons we have Jeff on the show and Robert and Russell is is that

they're Educators and we have a newsletter with Jeff and he's educating people about crypto instead of saying just buy this or just buy that they're all everybody on this panel are Educators and that's that's who we hang out with that's why I say they're real teachers not fake teachers who are just telling you what to do but they don't do it themselves and just understand that I I put C is is crypto is is Bitcoin a currency no it's a store of value it's basically an asset class it's like gold and silver Kim and I

have gold and silver we don't use it as money you know we don't spend it so I put crypto especially Bitcoin because I have a lot of respect for it what they've done it's really perfect money but it's subject to opinion and Market forces and people who don't want it to happen so that's why richad has Jeff on our on our on our crypto newsletter because you got St a breast of it this is the new form of asset class will it become money I don't know if fedcoin kicks in we're all screwed anyway but

the real estate guys are the best because the way you get r is you borrow money so there's good debt and bad debt and that's what Rich debt is about so the real estate guys they were the first guys I talked to when I came out with Rich Dad Poor Dad 25 years ago it's because why do I love real estate debt and taxes you like paying taxes go to school get a job save money but you want to get rich make a lot of money use debt and pay no taxes just the real estate

guys so Robert Helms and Russell gr could please tell us your story and uh because we uh we go back a long ways as Robert said 25 years and what we love about you guys is that you are teaching people how to benefit in real estate and what to look for and all of that so Robert would you give us a little bit of your a little bit of your background well it's always good to see you and welcome everybody I'm Robert Helms host of the real estate guys radio program our 25th year of broadcast

on the radio and obviously podcasting in millions of places it's crazy um I've been a real estate guy for a long time I grew up in a real estate household and back then at first what the part I got wasn't about debt and taxes the part I got first was somebody else lives in the house and pays all the expenses the mortgage the tax the utilities and a little bit beyond that the positive cash flow and then at the end of that time period say it's 15 or 30 years the tenants been making all the

payments and now I own the property free and clear that's what I first got attracted to and the next was debt debts critical because what other asset will the bank loan you 80% of the value and yet you retain 100% of The Upside that's just a unique situation very few other assets certainly some stock investors can buy on margin but it's not very much and if the value changes there's a margin call that never happen happens in real estate and then the tax part at first when you're starting out you know you don't want to

pay tax no one wants to pay tax but you understand that there's tax laws that require the payment of tax and as Tom wiri teaches us you know a country will show you exactly what they want you to do based on their tax code and most of the tax codes in most countries are a series of incentives the best incentives there are in real estate I always laugh when people decide to move to Puerto Rico to pay no tax like well that's one way to do it but the other way is to invest in real

estate and so while we are real estate guys we love real estate it's for the reasons Robert talked about it's the long game it's a real asset that's tangible that has utility and it really doesn't matter what the price is see if you bought a house 25 years ago the utility of that house was it has three bedrooms and two bathrooms and might sleep six people today that same house has three bedrooms two bathrooms and slips and sleeps six people so that's the utility it's not what it's worth in dollars so over time the great

part about real estate is your tenants pay your mortgage your tenants pay the utilities your tenants pay your real estate taxes and everything else and that way you get Wealthy on the efforts of [Music] others so Russell Russell gray how did you get into this world of real estate and all that you do wow you know I'm I'm just listening to all this and it's uh it's fascinating I I feel like we could do an entire just book study on the comments that have been made up to this point so uh a little bit on

me in my background unlike Robert Helms I did not grow up in a real estate family but I grew up in an entrepreneurial Freedom Loving Family in my early just after I got married my early teens I bought my first property with the help of a mentor I didn't even know which way was up I just walked in and signed all the papers I started a business I sold both of them two years later and the e in both the property and the business was far more than both my wife and I were making working

full-time so I learned two important lessons early in life the power of a mentor and the power of equity I was fortunate enough to get some of the best sales training in the world through IBM and I ended up being able to do quite well in in Corporate America but I was a little fish in a big pond and I had a tax problem and I started looking into how to solve that tax problem and so one of the things I looked into was real estate I quickly realized that debt was the key to real

estate I didn't understand debt in the context of the macroeconomy that came later and what I learned as I started to study the macro picture is that you can have the the currency going down but asset prices going up you can have the economy falling apart uh well the numbers all look big and it's a hard concept to get your mind around so when people say are we going to get inflation or we going to get deflation the answer answer is we're going to get both and we're going to get them both at the same

time in my opinion and so everything that Robert opened up with in his opening comments is spot on and I really feel like people should take and watch this like five or ten times and really break down the things that Robert said and is saying and so get around smart people who are interested in studying it like you are and talk with them about it and read what's going on in the news and then read what's going on in between the lines but the one thing that I've discussed CED is that the powers that be

have a vested interest in propping up real estate because the entire banking system big parts of the banking and and financial system the bond markets are dependent upon High real estate prices when real estate prices crash the collateral goes bad the debt goes bad the system implodes that's what I learned in 2008 and that's not just my opinion because if you watch the FED they are buying billions and billions and billions of dollars of mortgage back securities every single month there's no doubt that they are very committed to keeping real estate prices up so they've

mitigated some of the downside they give you the very debt the tool that you need to acquire the real estate and you just have to be very good coming down to the micro and the mini level to really know your markets to understand the Local Economic drivers and the commentaries uh that were made earlier about the policies and policies affecting local markets are very very important now there is a way to do real estate where you don't have to get the local market perfect if you do farmland for example or I consider energy oil and

gas to be real estate because it comes out of the ground and then I think the final point I want to um just uh reiterate and and reinforce is the comments that you made Kim about the importance of having a boots on the ground team you can look at the statistics you can look at the history you can look at the news and those are all reflections of the past but in order order to extrapolate into the future you need another data point that data point is what's going on on the street right now and

you get that from having boots on the ground team that are feeding you intelligence actionable [Music] intelligence this podcast is a presentation of richdad media Network