it's the banks Run the World the rich Run the World they don't care if your Communists or capitalist and so the banks love it they love people borrow lots of money so how do I get rich I borrow money and I buy assets with it the poor person borrows money and buys liabilities like purses cars houses and they get poorer and poorer and poorer rule number one in Rich dead poor does rich don't work for money most people miss that one well that goes back to 1971 when Nixon took us out the gold standard and
money became fake money so anyway my rich Was preparing me to think about how can I make money without money and the way I do it I create an asset like a book I'm not saying write books cuz that's tough industry but I write a book today I sell 50 licenses to 50 different languages and I collect royalties for years a long tale so my money just keeps coming in from with that I borrow so let's say I make $10 in a book I'll borrow $50 to invest in real estate I step up my bases
for depreciation that's Financial education yeah that garbage they teach you about invest for the long term in the stock market why would I do that when I can make up my own assets you know that's what entrepreneurs do every entrepreneur should be making up their own assets and staying out of the stock market that's my point of view but can everybody do it now of course not sure I've screwed up enough times to prove I can do it and my accountant will back me up yeah the guy is an idiot but he does create assets
do you know why they tell you to save money I don't know because the system of banking has nothing to do with Communism or capitalism so when you save let's say you save $1 us one Euro one yen the banking system can lend out 10 so the entire system is called the fractional Reserve System the fractional Reserve System is also printing money then they tell you to say money so they want you to save money so they can lend out your money 10 times so your dollar became worthless 10 times over and then they used
to pay you 10% interest on your money now it's at best 1% and they're still lending it out 10 times so that's why you don't save money is because your money is becoming worth less and less and less and less and less the banks are getting richer and richer and richer then they tax you on that interest they pay you that 1% interest if they pay you that much Japan is zero and the Japanese are so stupid they still save money we also have zero and they still save money how stupid is that that's what
I question so how come that happens now if I borrow money guess what do I pay taxes on debt I guess no why that this is what I'm saying okay question everything okay so when they lend out money that's how money is created money is debt they lend out to why is debt taxfree I don't know because that's how money is created and so the banks love it they love people borrow lots of money but I use debt I borrowed 300 million after the crash dollars in 2000 by 2010 I borrowed $300 million to buy
real estate that made me Rich and the interest rates kept coming down so my cost of money kept coming down and everybody else is saying oh you should get out of debt you know why because they don't question the hypnosis they're under you've been hypnotized to work hard for money to save it the fractional Reserve System prints it and then you pay taxes after taxes so I have all this debt and I get rich passive income is generally what happens when you invest in the stock market I mean portfolio income so they say well I
bought Tesla at 100 it went up to 200 I sold it so I made $100 that's portfolio income that's tax at the next higher level so when I have passive income it's taxfree getting passive income you have to know what you're doing so that's why you're the best first of all bookkeeper accountants attorneys Bankers I operate as a team just like when we flew into combat we're a team and most people are trying to do it self-employed way you know I'm a I'm a good computer programmer good you pay the highest taxes you work the
hardest you don't get ahead that way but that's why most people they want to do it on their own you know if you want done right do it by yourself and an employee is always saying the same words I'm looking for a safe secure job with uh benefits and a paycheck and a pension that's what they're looking for the tax law are nothing but incentives not punishments so if you donate I just donated uh money to the food bank CU they're out of they're out of food so it's 10,000 bucks I get a tax I
don't donate money to the food bank no tax break so because I have 7,000 rentals in apartment houses I got a tax break you know why cuz I'm providing housing and because I have thousands of employees in a tax break the government even sent me money to pay my employees it's I'm one of those kids that don't like school you know school is good for people who like school but here was my poor dad head of Education PhD on the Governor's Board of Hawaii and all this stuff and his kid me and I'm flunking out
of school cuz I can't read I can't write I said I couldn't read I couldn't write I was bored out of my mind you know I was just hey so what I did instead was that's when I met my rich dad was my best friend's father and he used these things called a game see games are the best teaching tools see when I'm playing this game this is how the rich taught their kids battle strategies called chess my rich dad taught me to be a rich man playing Monopoly we played Monopoly hour after hour after
hour you know the formula for great wealth of monopol is four green houses one red Hotel so today in Arizona I own 8,000 green Hotel I mean green houses and several red hotels I just play Monopoly for real so that's the power of a game because a game engages me mentally physically because I actually have the move thing emotionally because when somebody knocks me out I better wake up you know I made a mistake I am very shy very very shy you I came back from Vietnam and I couldn't talk to people and one day
I said to my when I decided to follow my rich dad's footsteps I just said to him I want to be an entrepreneur he says you got one problem I said what's that I said you're shy I said what's wrong with being shy he says you got to sell you got to handle rejection number one skill can you handle rejection answer is no I couldn't handle it this is in 1973 I was 25 years old and my Rich Dad said How's your love life says cuz you can't sell guys got it so when I talk
about what skill do you need when the hits the fan you better start selling so I went to work for Xerox in 1974 so I got learn how to sell took me four years and I was number one and today I'm a best selling author you know most phds tell me I can't write yes I said I can't write but I can't sell if you can't sell you don't make money period end the statement you know just because you have a product doesn't mean Jack but the important thing is you start you I don't care
what product you start with but you start you I started off with Dion wallets success wiped me out you know we couldn't sell couldn't sell all it took off then I couldn't Finance I couldn't Finance couldn't Finance cuz sales kept going through the roof now trouble is I kept borrowing and I couldn't sustain the sales next lesson but that's how we learn when I meet so-called Financial experts today most of them don't even remember 2008 they're so young all they know is a bull market all they know is that interest rates kept dropping Bond rates
kept dropping the price of stocks went up real estate went up everything was going up you know we call it the everything bubble be care careful of the age of the person you take advice from too so you know a bond is this let's say if a bond that's playing 10% is worth so much money but if the interest rates inflation goes to 20% the value of the bond drops and what most people do not realize the bond market is a million times bigger than the stock market the point here is back when I were
just starting out very exciting times and that's what I'm saying is how old was the adviser but this is the other part about it is so many of these idiots out there you know there's no cure for stupidity we've seen a lot of that over our times but this oh I have the 60/40 mix that means they have 40% this and 60% bonds and they're operating by these formulas that worked right after 2008 this ain't 2008 the point here ladies and gentlemen this bond market is the biggest in the world it is the thing that
keeps this whole place floating it's what's keeping this whole world floating I want to go on record and Rich dead put it I said Savers are losers why would you save dollars when they're printing it counterfeit money it makes no sense to me the reason dates are important is things are changing Moment by moment and the end is near we don't know which way it's going to fall to give us those three things you got to look out for one of them is one of the things I'm happy about is I'm an old man you
know and I meet these young I mean I feel for these guys I mean they're oh my dad gave me your book Rich Dad Poor inad you know I'm investing in real estate I'm doing this and I want to say we've seen the Euphoria right and an euphoric times you know it's about to end fundamental investment people look at a financial statement income expense assets liabilities that's fundamentals that's Warren Buffett's gig technical are the ups and downs basically the emotions and moods and the flows in the market now the thing that's interesting is Buffett says
he doesn't believe in technical analysis and so we have my generation we have so many people just follow buy hold and pray of Buffett buffets are God and I go are you nuts you've got to look Advanced technicals but anyway that's the real Market goes up and everything comes down I don't recommend shorting because that is probably one of the riskiest traits you can do because you're selling something I took technical analysis and Technical trading for three years I realized I'm a real estate guy spent three years studying technical analysis I'm a real estate guy
what does a short mean to me that is probably as high a risk as you can take so let's say you see Apple shares at $10 and you think I think that's going to go to five so you sell a million shares of Apple stock at 10 hoping it goes to five where you'll buy it back and all this other stuff but Apple goes to 100 so that's why you get caught with your pants down because now you have to buy the million shes you sold but at a higher price I just don't want to
paint oh I'm just going I'm become a shorter I tried it I got my ass handed to me the point is people need to get educated but it goes back to rule number one make sure somebody's got over 44 years of experience before you take advice I hear it probably five times a day some guy or young woman will come up and say my dad gave me your book and I'm going long real estate I'm going are you me do you know what I mean after if interest rates go up what happens to real estate
down right people say it's a recession so we're already in a recession de depression is coming and that's why you mentioned 1930 what happened in 1929 was the 29 crash how longer that last Depression last 25 years 29 to 54 also you're talking about the opportunity of a lifetime the reason having experiences you know I own um several tons of gold now and I own oil wells and when oil went from $30 a barrel to 130 a barrel a few weeks ago I got simulated I said oh my God the problem with oil going from
30 to 130 just temporarily was it wiped out the middle class inflation and food prices are going to go through the roof because natural gas and oil go hand in hand and that's how you make fertilizer and all these Greenies want to stop all that I'm going are you nuts are you nuts now what happened to most of them was when they handed out the brains they were missing an action at that time anyway the point here is this I was just watching CNBC I think and they were playing the um hearings with j yelling
and she's a grainy she spent all this time talking about global warming and I'm going what about inflation what about the war what about the debt why you and she's now a greeny as you said these guys are nuts and we're listening to them so that's why I own gold silver you know I have some Bitcoin just to speculate into it but you have treasury yell and you have fed and then you have this guy Biden and kamla the borders are she's never been to the Border except to Ukraine so I mean it can't get
any stranger than this there's tortoise and hairs guys who are short are hairs they're rabbits real estate guys are tortoises and I'm a tortoise you must recognize your weaknesses yeah I don't own stocks but I own gold mines you know what I mean and I own tons of gold that I control and I own oil wells I don't own Exxon or BP and all that stuff I own the oil well I'm a hard asset guy but I'm still the fat ass Turtle walking around the place but I got to be ahead of the curve here
and that's when the changes started because in 1971 Nixon took the dollar off the gold standard and I was flying in Vietnam at that time as a marine I said what does that mean what does that mean while taking the dollar off the gold standard said money became trash and then I come home and my poor dad always say me well you got to go to school and save money oh Jesus I said why am I going to listen to an old Japanese guy my father I went to listen to an old Chinese guy my
Rich Dad I get a little Disturbed every time cuz it happens like five times a day Young man or young woman come up to me I'm getting my real estate license oh I'm buying real estate I said at the top of a market you have no idea what it was like some of you were too young I'd go into a Chinese restaurant and they had white out on all the menus I like Chinese food but anyway so one day rice would be a buck next day' be two bucks and they had to keep Whiting stuff
out you know I'm going holy mackerel and then I put together when I was flying in Vietnam why my rich dad who was Chinese said watch out because they took the dollar off the gold standard they're going to print money it's called money supply not interest rates so they're going to try and raise interest rates to slow down the economy and they're going to exacerbate we're in a recession already because things are slowing the velocity of money is slowing at high rates of speed but also it's going to crash the economy and we may be
going into a depression now oh you're such a bad news guy I tell you something I learned more in the 70s than I do today because when I was trying to put a real estate together with interest rates at 20% you get really smart I mean I had to be creative and all this still make it cash flow so ladies and gentlemen it's only you know how creative how smart you are in the future and how resourceful and resilient you are because I'm afraid we're heading into a depression it's going to be a recession that's
a given we're already there technically but a depression is going to be a whole another Milla and some people be wiped out it's the last depression gave us communism and I'm afraid this guy Biden and kamla are agents of who we'll know but anyway and then there's always a silver lining if China invades Taiwan I'm a billionaire but other people get wiped out it's the best defense you can have against Biden Putin Z treasury secretary what's her name Janet Yellen oh my God and po you have three clowns up there and Kamala the borders are
she hasn't been to the Border I was the Border yesterday Mexican border they're streaming across they've opened the gates kids are making a th000 bucks a ride so they r one of these mini vans they can get eight immigrants in they're not from Mexico either they're from all over the world they load them into I took pictures of it and they chased me away but there high school kids are putting illegals in their Vans driving them North so you have a crew of eight 8,000 bucks the rental van cost you 100 really good stuff here
but that's Biden and Kamala I can not believe how crooked this country is I'm afraid because I saw this all happening back in the 70s when I was flying in Vietnam and it's coming true today what happened in 2008 that was the first big it was a CD I mean a credit default swap a whole Market came apart the repo market purchase Market collapsed the repo Market collapsed in 2019 again so we're setting it up right now and we have three clowns the three stes and people are listening to them oh my God the best
defense against the three stoes Biden Yellen and Powell fed chairman is educate yourself it is the most dangerous time in world history I've never seen it this bad and it goes back to 1971 when Nixon took the dollar off the gold standard there is more see money can only come into existence via debt that's the treasury market okay Beyond most people and there's so many oh buy treasuries buy treasuries buy treasuries they're safe and they may be I'm going and they oh I have the 60 40 I I don't know what that means but I
listen to these The Three Village idiots and they go oh yeah keep the 60/40 I don't know it's a 60% stocks 40% bonds I don't know I don't do any of that stuff because I had a rich dad who was Chinese IV say there always three size to a coin heads tails and the edge Rich Dad stands on the edge and that's the big thing another big problem coming up here is this it's called who stole my pension my father was so proud poor D he had a government pension and that could be the worst
thing you have today is a pension because there's no guarantees anything in there it's been stolen by Wall Street that's my opinion it's not a fact but I can see the heist I call it the communist republic of Hawaii and we own property there and we're talking about what happens when the government gets involved in the their own property it never turns out good and uh just FYI Hawaii has the seawater I mean the ocean erosion is taking down houses and as Mark said Carl mark said one of the objectives of Marxism was the abolition
of private property and Hawaii is as Marxist as they get right now because if you have private property they won't let you fix it and the ocean will take it away and then for the last 30 years I've watched houses just disappear and the government will not let you fix your property I can't believe it so anyway we have that's why I call it the People's Republic of why great people beautiful place but the government is 100% Marxist
