inflation equals climate change and so if you're an environmentalist you cannot the the the problem of environment cannot be solved from the system because what's happening is the free market is actually making things cheaper and that technology is driving so now you have clean green energy hello hello hello Robert K the Wich dad radio show the good news and bad news about money we have a very important guest today because um the best thing about the Rich Dad radio shows I get to talk to some very smart people and most importantly some open-minded people because
that seems to be a rare quality today is open-mindedness you know I mean Jeff his name is Jeff Booth and he and his might wrote the book the price of the future he wrote it for his daughters so they could understand mean your daughters Jeff or your children daughter and two sons yeah yeah so again I already stepped into it why did you write the book for your daughter and two sons the future so yeah the price of tomorrow why deflation yeah why deflation is key to an event in future right and and I wrote
Because I could see what was happening there were two two MA two massive Trends hitting each other one one technology that made everything cheaper correct um and and hitting a trend hitting um monetary policy all around the world that must make things more expensive and in those two Trends what I realized is is the breaking of society what would happen as a result of those two Trends hitting each other is is is we look for things in our life they get cheaper and cheaper and cheaper we look for value and if monetary policy tries to
stop that it just concentrates wealth and privilege correct and that's what the fed and the treasury are doing right now in Wall Street exactly making life more expensive for the people so uh something we're and I want to also ask Jeff's question this could it be partially the result of monetary policy it's not it's not partially a result almost every single action that you see around the world the signposts are everywhere and people are focused on the symptoms and people are spinning up around the symptoms it's actually what's creating a whole bunch of division of
the world the US versus them in the world because people are taking a side of an issue right without realization that the issue itself that they're talking about is a derivative issue of what we're talking about here the monetary printing the easing of money essentially trying to make your money worth less correct so before we go on this a very I love this I love my work here at Rich Dad Radio because I get to talk to very smart guys and Jeff is a very smart mind openm and guy but Jeff would you give us
a little bit background you you already started about the price of tomorrow yeah wrot it for your daughter and two sons what do you what what is your background and why did you write the book I'm a technology entrepreneur and I've built a lot of technology companies and and and what I what I was struggling my first technology company the the the technology it took three years to build the the logistics technology and about $5 million that technology is available today for about $50 a month so when I um for uh and and so what
I realized is why isn't everything I'm doing equating to lower prices and and what an entrepreneur does to an entrepreneur does to to D derive value is is sees looks at the world and says why does this work that why does this industry work this way and I can provide more value corre and so that's what I've done all my life as an entrepreneur and then what I realized is the system I was operating in the entire system at a meta level we were all operating in was was the biggest opportunity of Our Lives for
the same reasons prices should be coming down and prices were going up and I wanted to look deeper into that and I realized when I when I looked deeper into that I realized over the last 20 years to stop prices from coming down there had been $185 trillion dollar of global easing or TR of printing money or or making up money to drive 46 trillion dollars of of GDP growth and you realize okay on One on One path two totally different forces One path had to drive prices up One path had to drive prices down
which one would win what are all of the different secondary things that would happen as a result of those two forces colliding against each other so I wanted to explore it so let me give you an example because you know years and years ago I was a student with Dr R buckminister Fuller and he talked about this he says prices should be coming down it's called a informalization that what entrepreneurs and capitalists do is they provide provide better products at better prices right so when I look at the homelessness problem exploding lot the homeless have
jobs they just can't afford to live in a house like you know the government's charging them $90,000 for a pup tent or something in San Francisco and so there's forces that want to keep prices High which is the fed the treasury and Wall Street and then there's the entrepreneur who's working to bring prices down to do more for Less to make a better world for everybody yeah and and keep on that for a second if an entrepreneur doesn't give isn't in a free market doesn't give you more value the business fails it's out of business
yeah it's out of business and so we celebrate in every in all the essentially the monopolies we're creating through Google Facebook Amazon everything else we're celebrating what we're talking about Apple so so what Jeff was talking I think you mentioned um what was it Netflix versus video Yeah and Netflix had a better system yeah the same product basically but a better system the Blockbusters out of business so yeah so so Robert this is an important concept because today right now as a derivative of what we're talking about people are getting confused and they're blaming each
other correct um I don't blame Blockbuster no it was impossible for them to transition their stores from 9,000 stores to a model driven by technology in fact all of their advantage became disadvantage and what they did is they add C added candy aisles to their stores and we laugh at that and and we laugh at that but ask yourself what would you do um in when when all of a sudden download speeds were really slow and then they were fast and your business model changed in an instance that's what technology does it allows different value
and we celebrate that every day and it's deflationary now now ask the same thing on our financial system it's not bad people it's a system that must have it's built on credit and if you allow deflation the credit gets more and more expensive and it can't and and everything would reset so everybody in the financial system is trying to outrun deflation which is a stronger Force by printing more money and all the secondary consequences or as a result of that fight so so let me let me say this again when I was studying with Fuller
this in the 80s it was a novel idea to me you he was talking about we should always be working to do more for Less that's that's the point of humanity yes be done more for less and everything for free so it was almost socialistic I had a hard time listening to him but I also realized I had to change the way I thought about things so when so we designed the cash flow board game and all this the way I was doing it we were we were going around to Singapore to Canada to us
you know all over the world TR to teach this product and I said if I produce a board game it'll teach more people for Less effort more efficiently it works harder than me little game you know so that when I start looking at this little thing here say iPhone what Steve Jobs did he made this product this product is a thousand times smarter than him it works harder it goes all around the world and all this he's providing more for l so naturally Apple should make the money and you know what I mean it's that's
that's capitalism that's a feralization and all this and hopefully someday this will be obsolete is that kind of what you're saying I am but but but because people are so when you have misinformation in the Bas layer of money so you're you're distorting correct we're talking about something we're talking about money versus the product yeah I I I know and I'm going to get there when you have misinformation in uh in in money then you must have in misinformation everywhere else so a lot of people would look at Apple what you just said and say
that Monopoly we got to break it up without the realization that actually the Monopoly is getting stronger and stronger and stronger because of the misinformation and money um it wouldn't look like that under a free market there would be other competitors that would be be racing in to try to to drive that F uh faster but but you're right in we use it because it provides us tremendous value and most of the apps are free yeah there's so much free on that phone it's amazing and I don't I don't like the censorship that other people
are putting in there but that's a whole another story there right but so the the other thing we're talking about Bitcoin today so when I was listening to you speak I on Whose program it was your depth of knowledge on why Bitcoin is the money is the future of money would you mind going into that because I'm just a guy who likes to make money but I don't understand coin sure and and I think first off I need to say it's way bigger than money for me it's it's it what I did after the book
I I was looking at these two forces and everything I said in the book is is absolute facts we have technology that's making things cheaper and we have a system that's trying to make things more expensive right and so what I was looking for is a solution any solution could the existing system change itself to provide abundance to humanity or would this existing system fail through War Revolution everything else like it has done in the past and I looked and I wanted to actually find a solution out of the existing system but what I realized
is is system changes why Kodak doesn't change themselves why Blockbuster doesn't change themselves there's too much inertia in the system and so out of everything that I found then I found uh then what I and I was already in Bitcoin but I became all in say all in it's not all my wealth but it's but I was I thought this is going to be the best thing to be able to transition Humanity from one system to another system and the new system would be a way better upgrade for Humanity it would be beneficial for everybody
so why why is that why is that what do you as a technology guy so so the so the technology there's a lot of pieces to this uh this question to do in a quick exactly lot of pieces to this question but first the scarcity so you either have abundance and money and scarcity and everything else or you have scarcity and money and abundance and everything else we are moving to a more and more digital world where prices should come down as Things become information so as Things become information if you think about my I
used to buy CDs for 1995 per CD there's there was a whole infrastructure of people that said only these artists can be seen now I buy unlimited music for 9.95 a month and so I get way more for less and it's the way things are moving in everything that means that you either have you have two CH choices if you run an inflationary system which you create more money out of nothing against that system which is going on with the fed and the treasury and ex exactly that's the world we live in today right then
what you then what you do is you you concentrate all power in government unilateral it just keeps on moving 26% of GDP today is government spending and it has to structurally get more and more and more you Central all control in government and proven throughout history if you centralize all control in government it looks really bad for communism exactly you know people the definition of communism is Central Central control government and central control economy so so so the question yes so so that path is a given and that's path is where where we're going um
and by the way why if you think about what how instead of getting at people think about them acting in their own rational best interests the government pushes up prices unnaturally so house prices go up rent prices go up there's a whole bunch of people that that don't have those houses or assets and they lose from that and who do you think they go to to help save them from the prices that were manipulated higher in the first place same government right and so so back to the same government so you have this political divide
with both parts of the government saying the same thing it's their fault it's their fault when it's actually the fault of Base money right and but it's natural because people are incentive to invest it's to say I need money desperately to feed my family so they Empower in so that's so that's where the frustration come boils to the surface too exactly so what they do what they do is both PE both Republicans and Democrats are fighting over a battle up here and it's way down on base money that's a different and and so both both
parties are printing more and more money and trying to drive inflation in a system and it's unfixable from the system and what so what you get is a whole bunch of people yelling at each other thinking that they're they have the answer and they're to they're all wrong it's um and so so and and that has to get worse right on the existing system Jee we need to move on but I also want to recap we've been talking about here a pure entrepreneur and a pure capitalist is always looking at how can we provide a
better product at a better price more value for people how can we serve more people not fewer people right and the trouble with the existing system with the Federal Reserve Bank the treasury and Wall Street it's only to serve the rich yeah then you have homelessness spreading all over people are afraid of inflation and they have to have inflation because if it stops inflating we go to depression yeah so that's why what we what wanted Jeff Booth on here to discuss that but then the next subject I want to get in because I'm very you
know when I was telling with Bucky Fuller Buck Mr Fuller he said he predicted Bitcoin and he predicted Bitcoin as he he was watching young kids probably your generation playing video games and they were already using tokens so with that he said that's the future and so the old guys of my generation are still clinging to the green back and the dollars but the future was coming up already so that's why I really enjoyed talking to Fuller but we come back the most important question is I've been hearing more and more of the naysay against
Bitcoin that it's pollution and you know if you're not green today you're dead so I was listening to another podcast uh you was speaking about pollution how polluting is Bitcoin so we come back we'll be getting right into [Music] that hi folks Rich pontre here from the rich D team and let me tell you I can be more thrilled about the land slide 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 well 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 rampid interest rates are through the roof our national Deb is out of control and Wars rage around the globe Donald Trump has inherited an economy that's a to total MX 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 clear 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 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
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bad news about money you can listen to Rich radio program anytime anywhere on iTunes or Android and and YouTube and please leave a review when you listen and all of our programs are archived at richdad radio.com we archive them because we are just purely an educational company we make no recommendations to buy this sell that do that and most important listen to it again go to richd radio.com you'll pick up twice as much in the repetition but if you really want to understand what we're talking about today have a friend family and business associate listen
to it and you guys discuss it as a group because when you discuss it more of what we're saying will seep into your mind here so our guest today is a person of respect tremendously Jeff boo his book is a great book the price of tomorrow because it really fits in with my my one of my teachers Dr R Buckman Fuller he was called the futurist in fact John Denver called him the grandfather of the future that's all he looked at and Fuller was talking about thing called a feralization he also predicted Bitcoin he also
predicted the internet long after he died he was way ahead of his time because he was a futurist and uh so we have our guest today Jeff Boo the price of tomorrow and what Jeff is saying fits exactly in as buckminister Fuller was saying is that we have to be doing more for less and serving more people that is our job not to raise prices and if we do our job which is do more for less for more people we make a lot of money it's it's quite a novel idea so Jeff once again welcome
back and uh once again give a quick uh reason why you wrote the book the price of tomorrow because I I think I thought that was very very altruistic or important I I wrote it for I wrote it for my kids I wrote it for when when I realized the way the way the world was heading and all the signposts I realized that you had two forces hitting each other technology that was creating more for Less on an exponential scale and um and and government policy trying to do the exact opposite um give less for
more is actually make your currency worth less and those systems were going to those systems naturally were going to cause a whole bunch of society to break okay and and you're a technology entrepreneur I know very you know iPhone is beyond my capabilities but but so I listen to guys like you and you're talking about Bitcoin it it keeps my spirit up as I keep and I'm waiting for to retrace a little bit more today on the price but then I'm you know my futur is right with Bitcoin I have gold silver Bitcoin and bullets
as they say because get ready for the transition but one of the things I've been picking up is Bitcoin is polluting it's a very you know environmentally unfriendly product and you were saying something on another program why it isn't it's exactly the opposite so so Robert this is really important and for a lot of your listeners because this is so challenging that it's a different system uh a deflationary system based on a free markets totally system different system and they're measuring the system from the from the negative externalities of an existing system so they can't
see it so what ends up Happ is technology requires a digitally native currency that allows for deflation every other and say that again and again and again it's a requirement of Technology again technology requires a digitally native currency that allows for deflation and why because every other currency must concentrate all power in the hands of a few people with how fast Technology's going it's that is such an important concept it's it's a requirement now out out of all of those things Bitcoin is that I believe is that is that currency it's the biggest Network it's
the strong it's proof of work is actually the thing that takes currency out of government's hands to be able to manipulate currency to be able to continue an inflationary policy against a stronger deflationary Force th those are facts so what what you're saying is the government as it stands today must have inflation must have inflation and what what what Fuller was saying was that God wants all of us to do more with less to serve more people just think about in in in that point why do we use technology in the first place we use
technology to free our time it is it is a an Abomination that that it doesn't flow to more peoplec because it's being centralized and that time is being robbed by Central Bankers so most people are getting are are the rich are getting really well their time is sa saved but the poor are getting killed by that by that and it's a recipe for disaster and wars and Revolution that's what ends up happening and you can see the sign posts everywhere so you must take Buck Mr Fuller also predicted um an energy current which Bitcoin which
Bitcoin is it's tied to energy so so now on the climate conversation so at the highest level remember these are two different systems at the highest level just think about this inflation equals climate change so on a on a finite planet that you're going to manipulate currency to grow to pretend you can grow forever and you're going to keep people working harder and harder and harder and harder okay and they need more jobs to be able to pay for artificially highing higher prices and they need more oil to to drive to more jobs to more
and everything else and you're going to keep that going forever it's a recipe for the the the uh the Earth to fail so let give one example is right now the way I used to do these types of interviews I had to fly to New York from Hawaii and then put go on a hotel stay there for three days days all this money and then come back and then sometimes I never got on the radio show the TV show right so now we're on and off and and and so and that's just starting most of
the deflation is in front of us and so so let's now to take about talk about energy specifically energy specifically so today solar is driving solar and batter is driving about 11% cheaper energy per year on a on on a course so now you have it's one of the lowest sources of energy lowest prices of energy and it's expanding rapidly people could say I don't like Soul or everything else but those are the facts about the data that means you have more for Less in energy on on a trend that's getting more for Less all
the time and energy is the number one input in everything else so if energy is now lower price and getting more abundant more abundant um is because of Technology then it means everything else must be falling at the same pace energy as well so it's actually more deflationary so what would you do if you're a central banker and you had that that math equation but and deflation made this whole system fail what you would do is you would print more money and that printing money would make oil prices go up and then oil price then
a whole bunch of companies that couldn't me couldn't make profit in oil before at the old at the new at the old price would now be profitable and they' do more run more oil more jobs more oil more everything else and so you have these two systems as one's they're moving further and further away and why you can actually see what the other system must do when I predict remember when I wrote the book I talked about I predicted how much money had to keep coming it needs to be exponentially more on one side because
technolog is moving it exponentially more the other way and it's not just the money it's the the money is is essentially robbing people's individual rights and freedoms and concentrating power in the government and what they and what they're not seeing is uh is is that but worse climate can't be solved if if you care about environmentalism and clim climate it cannot be solved from an inflationary monetary system an inflationary monetary system means the world must burn must say that repeat that go back you know push the repeat button an inflationary monetary system essentially growth forever
manipulated growth Forever on a finite planet of fixed resources must equal planetary destru destruction it must inflation equals climate change and so if you're an environmentalist you cannot the the the problem of environment cannot be solved from the system because what's happening is the free market is actually making things cheaper and that technology is driving so now now you have clean green energy making it so it's cheap it's abundant and everything else and people are using it because Market forces are man because it's cheaper and the system must create prices that go up artificially right
so there these are in in contradiction of each other and and and and and you have a whole bunch of environmentalists that actually believe Bitcoin is bad and Bitcoin is actually the only thing I think right now that can save our planet it's because it's a different system it it it forces a different system it forces a deflationary system and that deflationary system um creates the the broadest based abundance for Humanity you get more everybody gets more for Less correct the way the way Fuller this is this is 1981 you know he wrote a book
called critical path you know Max Kaiser who is very very Pro Bitcoin yeah he's a Bucky Fuller devote also so I'm I'm looking to get him on so we can talk about Bucky because Bucky was a futurist so your you know your book is the price of tomorrow and we're talking about tomorrow but it's today yeah the technology is here it's moving so fast people um and people with recency bias especially when you're measuring a system by people are measuring shortterm their house going up without the realization that the house wouldn't have gone up without
$185 trillion of stimulus correct correct and and so there's caught in a system that's getting worse and worse so let me go back to 81 I was listening to Fuller he says think about this you know every morning people get up you know that cost money they get in their cars and they drive and every time they stop at a traffic light they got millions of horse power sitting there just burning fuel as they drive to work you know you just think about that if you just cut that out it would save the planet yeah
well so so let's use that example as far as technolog is going so today um capacity utilization of an automobile is 6% most of the time it sits in your garage or sits in a garage at work so we use it we don't use it 90 94% of the time I I have I have six cars so they right so it's worse for you and same for me same same for me so we don't use it most of the time what what happens when cars can drive themselves y so when cars when cars drive themselves
what ends up happening is you change a structure of an industry and essentially I could rent my car back to the fleet and it could pick up other people um at the at the same time so capacity utilization explodes it's actually going to be way less sales of cars as human we get more for Less um parking changes in cities dramatically and so so um and there's nothing that can stop these forces again again the other side what do you think is happening right now as as governments are pushing I can tell you from my
businesses as governments are pushing up labor rates by by inflation what would a natural business do to be able to compete people say I can't find I can't find Talent that's not true if you want to pay him $100 or $200 an hour you can find all the talent you want right you can't buy buy you can't find Talent at the price that the market will pay for your services right and and so so so what do you do when that becomes evident you remove with technology faster creating a cycle that that these forces are
driving in the opposite directions so let's go back again to the argument because it's come up more and more and more and more the anti NE Bitcoin people haters or any kind of crypto haters say it again okay so somebody says to Jeff Booth Bitcoin is polluting the planet how do you respond Bitcoin saves the planet how how specifically so so that that proves proof of work having a a having a currency that is unable to be manipulated in inflation against a deflationary force that is take essentially takes currency out of the hands of government
and puts it in the empowers people as a result allows prices to follow their natural order in declining that means people have to work less to survive exactly or so those two those two different systems so that's in in one system um even ke predicted a 10-hour work week from today from today what he didn't realize is is his own policies would be used to create this Frankenstein monster and so so so technology allows you to work get more for Less it should be pretty ubiquitous it should be common knowledge in everybody's Minds because we
those are the technology companies we use every day why wouldn't why wouldn't life look like that when we're all rational people making decisions in our best interests and we make decisions to to that that should bring prices down now if that's the case why do we also believe in a world where prices must go up when every rational actor in a system will vote with their own wallet prices coming down but we but but we We Believe In A system that looks exactly the opposite anyways tied to climate change those those two systems are polar
opposite one system so so one system inflationary monetary system must burn the Earth it gets worse and worse and worse and worse exponentially worse and and and the other system is is provides the broadest based abundance and is in harmony with nature so Jeff thank you thank you thank you very much I could listen to you all day long always welcome back to the Rich Dad show anything you want to say something thanks you know I really pre I really I love it when I read your book the price of Tomorrow say it was like
Bucky Fuller was reincarnated In You by the way that's say that's saying something because Buck Mr Fuller was was he was he was incredible and man ahead of his time way ahead of his time and changed my life you know so many times I studied with him so Jeff you know thank you keep up the good work and I appreciate your time so thanks you too thank you this podcast is a presentation of richdad media Network