Never work for this this is what keeps people poor this the rupe the peso the Yen the Yan he says never work for this I will say this much what's more important is ethics and morals okay nothing I do is illegal unethical or immoral great those are the three more more important than anything else to me the battle today is between Russia China and America in between is India the World's coming apart this way right we're going to go to war hey guys welcome back to my Channel today we are doing a podcast with someone
very special and uh as you may notice I don't do a lot of podcast but I could not resist an opportunity to talk to this man so this man is probably the Godfather of personal finance in today's modern world it's none other than Mr Robert kosaki uh thank you so much sir for being for agreeing to come on my Channel uh it's an absolute honor to be talking to somebody who actually built my own foundations of learning personal finance thank you so much um in today's podcast uh I was thinking uh let's break it into
three parts uh the first part we would uh cover about the macroeconomic trends that's uh evolving the world of Finance today uh because very important to understand what's happening on a global picture to know where our money should go so that it makes the most uh Roi for us uh the second thing I want to talk about is the The Duality in how the rich uh think about money versus how uh the rising middle class think about money because I think that mindset about how money works is super very very important before you even invest
your money and the last thing I want to talk about is what should the rising middle class of India and I mean that I mean the 25 to 35 years old which is what majority of my 2.1 million followers are What should they be doing as they chart out the rest of their career in terms of controlling the money that they earn instead of the other way around right so maybe we can start off with a little bit about you uh most people in India know you as the author of the world famous book Rich
Dad Poor Dad and um maybe we can talk a little bit about what's more behind the scenes of uh who you are how you began your journey uh we can take right from the beginning from wherever You think is relevant well um I was a kid who liked money that's all you know I was very curious about it I used to um I went to a rich kid school mostly white kids yes in Hawaii they call them Howes and call them what howy Hawaiian for white person howy howy yeah okay and they were rich and
the Asians were poor right so I kept wondering how come One race is Rich why is One race poor same As India you had all the same White people here who took all the land and resources and all that that's right and so I smelled a rat you know and I thought the rat was school and I kept asking my teachers what am I going to learn about money and they gave me this [ __ ] the love of money is the root of all evil I go stop bullshitting me you son of a [
__ ] but that was their way of preventing me From getting rich that's right by telling me if I wanted to get rich I wasn't going to go to heaven I go holy M I'm only 10 years old you know I couldn't drink the cool in America call it the Kool-Aid you know just couldn't drink go to school and work hard and make the rich richer so that's how it kind of started and so I kept asking my poor Dad I said well how do I learn about money he says I don't know cuz he's
a Professor and you know professors are poor people right but they teach kids that's that's stupid you know so said why don't you ask your best friend's father said who's that he says Mike said why should I ask Mike father he's gonna be a rich man I said why is he gonna be a rich man so my rich my rich My Poor Dad said Mike's father is an entrepreneur and I said so what are you I'm only 10 years old right he said I'm an employee I said all right I said so Was the difference
to entrepreneur an employee and my poor dad said well an entrepreneur has to know about money I said yeah and what about an employee like you he says I have a job and then I started to hear it go to school get a job get a job get a job job I'm going school's lying to me and I said I don't want a job and that's how the whole thing started so when I was 10 I just started studying with my Rich Dad and that's I was 10 years old I ride My bicycle to his
office and I had to work for him for free so he ran a hotel right and I had to pick up rubbish and work you do any odd jobs and Rich Dad never paid me if I pay you you think like an employe what my dad works for money he says yeah but that's why your dad's poor he says never work for this this is what keeps people poor this the rupe the peso the Yen the Yan he says never work for This and so that's kind of where the whole thing started but being 10
years old I was more confused now so I had to work for Rich Dad and finally I started to understand things like um I'd work for free he' play Monopoly with me so I'm going why are I playing Monopoly he says because you're learning to be rich I said I'm playing Monopoly so you learn to be rich and so I play monopo got home my poor dad said what what you been doing all Day you've been studying I said no I've been playing Monopoly oh what a waste of time do your homework if you don't
do your homework you don't get good grade you won't get a good job right so I'm going I'm so confused and then one day I said asked my Rich Dad I said why am I playing Monopoly goes see all those properties out there that's my real green houses said what he says those I play Monopoly for Real in real life I go you do what he said I play Monopoly in real life cuz he never went to school either right he played Monopoly so basically the idea from Monopoly is that the way to win monopoly
is to make as many houses as possible and then give it out for release you got it wrong then what is the idea here the idea of Monopoly is to trade up from green houses to Red hotels using debt right everything is opposite of what those School teachers will teach You so my poor dad I say stand of debt my Rich Dad said use debt you see everything is opposite and that's why most School teach futurist I don't listen to them if you tell me you went to Harvard or Yale I just check out look
at the biggest Crooks in America are professors this guy Ben beraki he was he was the US Federal Reserve Bank chief he ripped off this whole country H yes and he's a PhD from Princeton okay so that's he was one of the uh key players behind the 2008 financial crisis as to what happened right he was the bailout guy right he not only bails out the rich he bailed out many European and Asian countries they bail out the rich that's right they let the poor middle class die right I don't trust College professors they're poor
people with a degree big deal so it's interesting that you touched upon what happens in the World order uh so from since the last financial crisis to what we are seeing currently uh do you see any changes that's happening in the world order do you see a crash coming anytime soon uh what are your thoughts on the macro picture of what's happening in the world very good question we're in the biggest change in world history now like this is August 2023 they just had the bricks meetings right in South Africa you know bricks stands for
Brazil Russia India China South Africa right so it is the split between the west and the East so the West has approximately 1.2 billion people using the dollar right Brazil and Russia I mean uh Russia and China have control about 3.8 billion so the fight now is between East and West when you mean West 1.2 billion people is that North America and Europe generally yeah okay so that totally is 1.2 billion Approximately yes got it the point here is this the reason I'm happy to be here in India be r i India is in the
middle right China South Africa so the problem is your school systems are marxists most School teachers are marxists can you explain what Marxist is to they believe in taxation sorry they believe in taxation okay I don't pay taxes okay capitalists don't pay taxes right right okay we also use debt right and we don't pay for we Don't and we don't do any of those things this is my friend here Donald Trump he's a capitalist right people hate this guy but he is my good friend we are capitalists we're not marxists Obama Marxist okay and this
guy Biden he's stupid most stupid president we've ever had wow he's caused America he no Biden has done more damage to the world than any other president in history okay and he's he is Obama's Surrogate Obama's still in office through Biden okay so the F what was what was Biden's First Act do you know no can you please explain that he took off the Keystone Pipeline between Canada and America under Trump he's a good friend of mine we were selling oil okay I own oil wells just like Mr Tata okay we own oil wells in
Texas Louisiana North Dakota okay so I was selling oil in Trump for $30 us a barrel Biden came to Office oil went from3 $ a barrel to $130 a barrel I knew immediately what that communist was doing he was making oil so expensive it would wipe out the middle class so today in America I see the poor middle class people they're pumping gas they cannot feed their kids and all this and uh Biden then says well it's Putin's fault okay what and Americans are so stupid they believe them but Biden as I said is just
Obama's thirdd term okay as President okay and you look at all that I'm going holy moly so India is right in between all this right now so the big shift I'm not taking sides it's Russia China versus America Europe and and so basically it's they if they go to Gold American Dollar's gone if to Gold if they shift to the CH I don't think they will the Chinese are threatening to shift the Yuan to Gold okay pegging it to Gold yeah and if they do that US Dollar collapses right this is trash right if that
happens America goes right I mean the the kind of um printing that they've been doing over the last one or two years of excessive cash into the economy uh what do you think is going to happen if they continue doing this in terms of the inflation well there' be hyperinflation you know and U unfortunately War okay every time this is why I'm happy to be in India you guys just put a man on the moon other thing Good about India is your people are very peaceful people right I come here I I feel like the
most obnoxious man on planet Earth you know you Indians are so kind so nice so patient I'm like get this and there are thousands of um you know sub communities within India somehow we just work together in one please so you put them you put a spaceship on the moon and all this and BR r i CS right between so just be Careful be careful whose money you use either the dollar or the Ian so that's why I've been saying it's Commodities silver and gold right this today is about $35 us okay okay that's a
lot of money here in I know India $35 or this is $35 us $35 this is about 2,000 okay okay is that real no they're fake okay this is real the silver but anyway so being a capitalist I own gold mines okay and I own Silver Mines okay so when the dollar Crashes I get richer right and that happens time and time again that's going to happen now now when do you think it will happen it's happening right now America America is sliding into depression right now how I said it's Brazil Russia India China South
Africa but it's Russia China versus America right now is the biggest battle in history going on today and the dollar is going to lose so if you read Rich Dad Poor Dad I said I don't work for money I Work for gold and silver I do not save dollars okay I use debt to buy real estate right I pay no taxes legally yeah and I save gold and silver and since I was a little boy I've been saving so much gold and silver I now own the richest gold Min In America which is it's called
the Trixie but on the New York Stock Exchange okay it's OCD C okay so I I only work for real money which is gold and silver so that's a great question because I actually wanted to Understand uh because there are so many asset classes that are available to the retail investor today you know be it um as simple as just having cash like you pointed out then there is Commodities like you know gold and silver then there is the stock market mutual funds ETFs real estate cryptocurrencies so many options so I get asked this question
a lot where do I put most of my money so according to you which asset class um is the which you're most bullish on uh in The coming decade or few decades well that's a good question but the most important asset you have is this right the this the the space between this year and this year and the thing that I'm happy about is young men like you young women too have podcasts there's some very smart people on podcast now better than listening to a stupid college professor right who doesn't know anything about money why
would you listen to a poor dad like my father Right stupid so what on on the podcast today there's some very smart young people coming up like I fly from here to Singapore and I meet Jim Rogers Jim Rogers is one of the smartest investors in the world okay most people don't know who he is he's an American who lives in Singapore that should tell you something ah I he he probably kill me for saying he's a good friend of mine his partner was George Soros Soros is the biggest communist going right so it's money
and Power and politics nothing changes so he's the one who was famous for making a billion dollars in like one day through a crazy kind of they crushed the bank of England right two guys two young guys yeah smartest guys I know so my lesson to all young Indians it's good that Indians are very smart people my my doctors in the states are all Indians they're very smart people not just that I think now the results are out that among all the top Seos of the world I think uh almost 40 50% are Indians oh
is that loal companies yes good so the it's naturally inside your genetics your race right as compared to other races which I won't say you know some racists aren't that smart okay which makes me a racist Japanese aren't that smart really no I mean they are the like pioneers of Robotics I always thought that they're like super smart people I mean they look smart as well They work work ethics hardworking people okay biggest de nation of only only only country bigger bigger in debt than America is Japan okay but the thing is is what people
are doing is they're playing games with this stuff where do you think I borrow my money from from the bank Japan okay Japan are stupid people they save money right I'm an American I use debt I borrow their savings I heard that the savings rate interest in Japan is Negative to motivate people to put it in the market is that true no Japanese are the highest per Capital Savings rate in the world right Japanese believe in Saving M they're good people yeah but not very smart financially right Toyotas Hondas okay you know right so in
a country like India um right now if you see the the the teenagers you know 15 to 20 year old teenagers what we've been told by our parents is to focus on uh you know Becoming a doctor or an engineer because that's like the safe route to you know securing your life in a country like India uh but what baffles me is that uh there are so many examples of people who made a lot of money let's say let's say even if you're a high earning person in India which is about let's say $30 $40,000
a year um versus let's say somebody who has won a lottery in India um all of them eventually end up in becoming broke so I'll give you an Example so there's this popular show called kega karati in India which means it's a ripoff of who who who will be a millionaire which is there in us so they got ask questions and they win uh I think a staggering more than half of the people who've made like a million dollars on that show are broke today so what baffles me is that we are only taught how
to make money uh but the schools never teach us how to manage that money like why do you think that's The situation across the world even in a prosperous country like us uh that is the situation so why is that happening and are things changing well the are the stats statistics show so let's say have a man he becomes an entrepreneur he makes a lot of money okay the second generation he teaches it to his kids so the second generation they enjoy the money right the money's gone by the third generation Disappears because they don't
pass on knowledge they pass on money I meet so many people today I can tell they're either second or third generation right they're really pretty they got their Gucci clothes on got the cars and all this second generation second generation but nothing up here right too easy so look at this here I wrote this book here say who stole my pension see America Today is what floats the stock market in America are pensions same as here okay and Wall Street steals the pension so can you explain that how does the pension system floats the stock
market in in N where does the money come from so all these people who will go to school to get a job and they save money and they invest in the stock market stocks bonds mutual funds ETFs I don't touch any of that stuff I'm not saying you shouldn't but I don't have to okay I'm an entrepreneur employees have to save money get out of debt buy a house right and invest in the stock market my poort dad I'm an entrepreneur I buy the gold mine I get the gold right most employees cannot buy the
gold mine right I buy the solver mine I buy the real estate I buy the hotels right I am a capitalist I am an entrepreneur so why aren't these learnings taught to us in schools like why are they skipping this topic why do you think that because They're run by college professionals like my poor Dad they don't think it's important no they have a job what's what's all what's valuable to you okay like I talked to my friends so I'm my friends want kids right some people don't want kids Johny so if you want kids
have kids you don't want kids don't have kids you want to be rich don't be an employee okay you want to be rich be an entrepreneur okay but it's a Choice right so this this is the biggest problem America is going to be the poorest country in the world starting now you're going to see the biggest crashes happening right now so that's good for me because the price of gold and silver go up that's interesting because most people in India until the last decade have been migrating to the US thinking that that is where is
the land of opportunity to you know to pursue the Great American dream but over The last 2 years we've seen an increasing number of people coming back in droves back to India because that's where they're seeing the opportunity so that is a very interesting shift that I never thought would happen so quickly uh in my lifetime right so you're a very smart young man yeah you see what happens is every place I go I traveled the world since I was a kid yes I always go to the slums so this time I went to the
slums Of Mumbai and I'm looking at talking to people you know but what shocks most people is America never had slums like that today slums are everywhere Across America really one of my yeah one of my best pieces of real estate is in Portland Oregon because they're run by Communists here most School teachers are communist this is a cap Communist Manifesto by Marx they don't know it they're good People but they're doing the right thing I think so in Portland Oregon I bought this huge apartment house okay and my friends and I converted it to
Condominiums and we thought we're we made a fortune we did but we couldn't get people in there because the government of Oregon allowed homeless people to build houses all around our property so the tenants couldn't drive onto the property then San Francisco went down Washington went Down uh New York is going down the slums of Mumbai are spreading across America wow you should go look at it San Francisco used to be the most beautiful city in America in my opinion I went I went you know I worked in San Francisco and all that now you
don't walk in the streets because it's like the slums of Mumbai I I'll tell you one more interesting thing that's happening in India so the builders are trying their best to clear out the slum so what they Telling them is I have build an apartment for you close by vacate your slums and stay there while I make another building over here so that you can occupy it later but what these guys are actually doing they got that apartment for free and they're giving it out for rent to somebody else and continuing to live in the
slums so that's an interesting uh development that's happening in the Mumbai slums same thing happened in China right the Chinese developers would go in then build those highrises never finish them steal the money and run so China's in serious trouble right now financially too interesting so now that we're seeing that so many problems are are happening in the formal world's economy do you think crypto will be back because I've uh I I've read one of your articles where you mentioned that uh if the world crashes again if you have another economic crisis the price of
Bitcoin Would go to million dollars so do you see that happening anytime soon it could yeah I own I own Bitcoin I don't have that many I only have 60 okay how many Bitcoins do you own if you can share huh how many Bitcoins do you own I just told you 60 60 Bitcoins yeah not many that's a lot but okay but I I bought I'm I'm not very good technology wise mhm but I do take investment courses okay so I was watching Bitcoin do this right so up Down up down up this is 2009
right right it hit 20,000 you've been monitoring since 2009 Bitcoin okay that's what investors do yeah yeah we're not stupid people like Co School teachers it hit 20,000 crash to one yeah I said and I waited and then it hit six so I bought 60 for 6,000 okay so it's about 1.5 now not much how did you know at that point of time when that crash happened to 6,000 that you need to buy more like what made you so confident That bitco will go up again because I take investment courses okay that's called fundamental investing
and Technical trading okay technical most investors are technical they're watching the market go up and down up and down up and down right so they they just options they use shorts all this other Warren Buffett is not technical Warren Buffet is fundamental correct George Soros is technical so you got to know what kind Of investor you it's all Financial education so I just take all these questiones I watch it it hit 60 took it out okay and when it hit $60,000 you took it out and I just bought 60 okay you don't have to be
greedy you know right right but did you cash out when it when the boom happened I never sold you never sold I never sell got it I only buy so you're still bullish on it going above than what it is currently well I'm kind of worried but I was given this my Very precious gift here a young woman you know from the CL from here okay gave me this gift here I just love this it's a uh it's Rich Dad poette with Bitcoin on it wow the reason this is important is a very simple reason
is um this is fake everybody who works for dollars yen pesos rupee this is fake stupid people work for this stuff okay and that's what We get but then don't keep it like that put it somewhere else it's fake yeah so when she gave me this I was happy because I like Bitcoin because Bitcoin is blockchain right it holds this Integrity it holds his shape so I was very honored to to take this the problem with Bitcoin this is my warning to all the crypto guys you messing with the federal government it's what it's going
to get to like how will be yeah so America just this year already said They're going to come out with a cbdc with Central Bank digital currency you guys know more about tech than I ever will you even India has come up with something of that sort the moment they go to cbdc this I'm not saying may drop see because they're going to put this thing out of business so you got be very I'm not saying it's going to happen but I still stay with go things Really pain but it would still depend on adoption
right this is God's money okay bitcoin's people's money okay this is fake money okay and you guys all been taught to work for this garbage yeah this is toilet paper wipe my ass the problem started for the longest time that paper money was pck to do you know the gold and silver until then it was fine but then once they made it fit and when they could just print how much They want that's when the problem started is what you're saying yes this is fake and the reason I showed you this is this has started
in 1974 197 one Nixon this is macro okay Nixon took the dollar off the gold standard yeah so 71 dollar became fake then it became the petrol dollar what dollar petol Petr gold oil oil dollar I'm an oil man I don't even know this I own oil wells right I don't own oil stocks I like the Black stuff you know okay so so next thing took the dollar off the gold standard this became fake but the economy boomed real estate boomed yeah because they were printing this as fast as they wanted to right every time
America got into trouble they printed this can you briefly explain what happens when the government prints a lot of money who does it impact and how well there's inflation right so right now in America I'm sure it's here Too many people can't afford to eat anymore it has become expensive yeah the homeless people in America some of them are drugs obvious obviously lot of just can't afford a right same is the situation in because this is toilet paper and our school teachers will never tell us this because the school teachers are marxists they're good people
can we tell briefly what a Marxist means Taxes basically taking money from everybody to equitably distribute and then tax right I don't pay taxes so a capitalist knows how to use debt right and pay no taxes because hear me out yeah this dollar is a function of debt the only way this comes into existence is somebody has to borrow money this does not exist this is Deb after 1971 so 1974 it became the Petr dollar so I made a lot of money in oil I I went I worked for standard oil for a while right
and then what happened is um economy kept increasing and all this then they started pumping all the money into the baby boom generation into their pensions these pensions were stolen by Wall Street it's empty so you watch in the next few years you're going to hear more and more from the states our pensions are empty but not what else happened was because my age gener Baby Boomers were Pumping so much money into pensions the stock market blew up up the stock market blew up housing process blew up bond market blew up right now it's all
going to come down that's my prediction I hope I'm wrong okay so this has been happening for decades now I've been studying this for most of my life okay since I was 10 years old I said how come I don't have some of this how come the school teacher doesn't teach me about this right why does my dad I say go to School get a job work hard pay taxes save money right why do that and I rich I says I don't do that so so I had an interesting uh question here looking it from
the lens of the government your questions are very good by the way thank you so there are two schools of thought right one L one way to look uh look at as um person who is running the country is to ensure the maximum happiness of all the individuals so equitable distribution of wealth and The other way of looking at it is no not everybody is equal Winner Takes it all and what we've seen over the last decade is that the well in income inequality has magnified I saw an interesting stat that 10 years back sorry
around 50 years back the top 1% of the world controlled around 6 to 7% of the world's we amen and today the top 1% of the world controls around 20 to 25% of the world's wealth so my question to you is uh would that is that sustainable or would that If that income disparity keeps increasing would the world eventually collapse due to war it's always been that way there's a thing called paros principle it's called the 8020 rule right so like 80% of the people are poor 20% are rich right there's another rule I don't
know the name is it's a 10 90 9010 in America 10% of Americans own everything the reason there such a gap is our schools teach us to work for this yeah go to school get a job right work Hard pay taxes yeah save money buy a house and put your money in the stock market right I don't touch any of that I'm an entrepreneur i' rather be like Mr Tata right who owns the stock market so you touched upon an important topic uh buying a house and that is a very very uh important discussion according
to me and whenever I talk about it there's always uh people who disagree with it right because it's so ingrained in our mind that buying a house is the American Dream when it comes to us and in India it's like buying a house means your finally your life is sorted or life is set but I differ from that because I feel like if you prioritize of buying a house which you live in very early on in your life because in India you don't you can't get married if you don't own your own house because the
you know the the bride will ask bride family will ask for that okay does he own does you own a house and because of that pressure young Indian males are buying a house in their mid 20s and getting into 20 to 30 uh 30y year Home Loans uh which kind of gets them bonded uh to you know working 9 to5 jobs for the next 20 30 years which they can't take any risk you got it so under your ask you what are your thoughts about buying a home because uh it's very difficult to convince Indians
and I get a lot of lashback when I say that you know don't buy a house delay that purchase focus on building assets which Pay you more money but people disagree I I face the same thing cuz I I I own 15,000 houses 15,000 houses okay which you give it out for rent yeah right so nothing wrong with buying a house difference is are debt to buy it okay and I pay no taxes it's not the house it's not the stock it's not the bond it's not the ETF it's your brains so I would rather
use debt and pay no taxes can you explain that how do you buy houses without which Is capitalism right we use debt and we pay no taxes that's what I teach can you explain the mechanics of that in simple words for the audience like how do you in 19 71 this became debt okay the only way it's created is somebody has to borrow money so in your credit card there's no money in your credit card right there's no money anywhere so the moment you use your credit card money is created and the US dollar is
debt the rupee is debt the yuan is debt the peso The yen is debt they need people to borrow money so when I go to a bank and I say I want to borrow $20 million I get huge tax breaks because I'm creating money but if I use my credit card I get nothing okay it's up here your greatest assets between this year and this year this year so that's why you have the cash flow board game there's not too many in not too many here the board game was designed to teach you to think
like A capitalist cash flow okay and so I wrote a book Rich Dad Poor same thing you it's all about accounting right so interesting point because d do to be able to do what you just said that you need to borrow debt buy homes and then give it out for rent but you got to have it in your head first no but don't go stupid and running out there right so but in a country like India uh there's a challenge around this because the rental yield is way lower than the cost of Borrowing so in
in us it's the opposite right like the rental yield the the I I don't know I don't know I don't every city in America is different right all the laws are different so the first thing I would do is come here I'd hire an accountant and attorney okay and then I would evaluate your markets right and then I would buy or not buy right like I don't own any property in California right because it's a communist state I own nothing in New York City Communist okay but I own Arizona and Texas the laws are different
so you have to know the laws you can't be stupid right right most people make that mistake uh they're like I I have so many people coming up to me hey I read this book Rich dead poor dead and it says you have to buy houses and give it for rent but in India I didn't say that I said your house is not an asset right house is not an asset yeah and when when you when you miss it's called financial Literacy right what is the definition of the word if the if it puts money
in my pocket it's an asset correct if my house is taking money from my pocket it's a liability yes has nothing to do with real estate right correct so yeah most people confuse that saying I'll buy the house and I'll only live in it and that doesn't liability that becomes a liability and most people have a very hard time uh digesting that right because they don't go one more house Beyond it you know yes they cannot I mean it's they think like poor middle class peasants they I mean they spend 30 years to buy that
one house yeah how will they afford the next house right then they have to worry about their retirement their kids education their kids marriage their kids house so it's it's a no way winning that game it takes everybody wants the easy answer right they want to win the lottery right they want to be a soccer star yeah they want To be a Bollywood star yeah and as you said already they're broke in 10 years right so now I want to go a little bit from a philosophical point of view right so we've just been talking
about money this money that how to get rich uh but I feel the the three pillars of a happy life is money health and relationships um I wanted to ask you someone who has almost lived 80 years on this planet what how would you rank them three pillars of Life money Health Relationship how would you rank them in terms of importance for a happy life why why do you have to rank them so that people know what to prioritize they're all important but if you had to sank them money money first if I can handle
money the rest is easy right in America they say no money no honey but what about health huh health health is expensive yeah so should me yeah so money comes first and then heal and then if I was to make a Choice if I got the many handled i' get the res handled but if I'm poor no money no honey no life no Health that's right unhappiness can you know I I fly all over the world I have my own private jet I'm a lot happier I stand in line at Mumbai airport I'm not happy
you know what I mean I I have a lay 60 I just climb on gone so what is that lay 60 is a Jet private jets yeah I'm buying a G4 next golf stream 4 so it you see when you have money you can buy what you Want yeah I will say this much what's more important is ethics and morals okay nothing I do is illegal unethical or immoral right those are the three more more important than anything else to me like like I've had people cheat me steal my money you know partners and all
this that's illegal unethical immoral that to me is more important than money right I don't have to lie cheat or steal To make my money true interesting so I also heard that um um that interesting topic where you said that the rich U don't pay taxes and they use debt uh I read the story about how Elon Musk uses use debt notay taxes yes he because this is debt right this is debt he raises debt with his stock options and then he uses that money for his expenditure correct that's how he does Elon Musk also
use tax breaks can You explain how D used tax breaks that's beyond me I wrote a book called the cash flow quadrant esbi okay he sens for employee go to school get a job you teachers s stands for smart people Doctor lawyer oh become doctor become a doctor right employees pay 40% in taxes in India 's pay 60% you have b stands for big business 20% tax I stands for Insider I only invest from the inside I don't invest from outside legally okay so Elon Musk Is a b and an I I'm a b and
an i 500 employees and I put the deals together so I put the my goal guess how much money me yeah my gold mine in India guess how much money I got in it how much zero because I'm in insert I put the deal together I'm an entrepreneur B and I musk is a b and an i Steve Jobs was EB and I Tata Big B and I it's a mindset that's the book called the cash flow quadrant if you're at Rich dead Poor dead cash FL quadrant your next got and if you're so inclined
get a cash Cash Flow game and play the game and learning how cash flows it's all cash flow okay interesting so what does that Insider mean like what exactly do they do I put the deal together I don't I don't but how do you make money out of that if you put the deal are you [ __ ] me like how do how do you like SK you really don't know do you I don't know please tell me I think I think Mr Tata makes his money washing dishes no of course not he puts deals
together somebody brings him a deal you put the management team in place you put the financing in place and you get it to work I'm doing this I do it all day long I put I put businesses together that produce money and they don't require much of your time because the systems are set in place no I to H you have to hire people with mbas I hire stupid employees with mbas Okay interesting people who want a paycheck I give them all the paycheck they want I create businesses I create real estate my that's all
my friends do so like how many businesses do you own today quite a few I I really don't know anymore okay I I start one I move off start one move off same as Tata I mean I see his I see his Tata on his trucks and all that stuff right you think he's out there hammering Tata on his truck right Same thing so uh like what do you think somebody who is let's say I go back in time not go back in time let's say that you're a 20-year-old person today starting from zero right
what would you how would you chart out the next 10 years of your life this would be very important for the audience here because they are mostly in that state in their life they are in their early 20s and just about to start how can they become You in today's world you got to study man you've got to study okay I study you can ask my friends I study constantly you study constantly constantly every day I'm on you every day all day okay I'm reading book studying this I'm talking to talk to my friends and
all this okay I'm not looking for a job I'm not working for money that's why the one book is Rich Dad Poor Dad second book is cash flow quadrant third book is Rich dad's Guide To Investing I put it all in there you can read that then I create the cash flow board game okay and if you play the cash flow board game the reason is better than going to school it's about a financial statement you see my Bankers never once asked me what my were my Bankers never ask me what college I went to
my banker wants to see my financial statement my financial statements my report card right when I grow up that's right most college professors Never Grow Up the little kids yet I got a I got a PhD I got a PhD I got a PhD I got a financial statement so what happened in 2018 when the markets crashed I borrowed $300 million okay you know why cuz all the real estate had crashed okay so we bought took my financial statement showed it to the banks how much money do you want tax-free money we bought we bought
almost a billion dollars worth of real estate because it crashed so when I When I tell people the Market's crashing I get excited right because everything goes on sale you know that that that's that's like Ferrari saying we can put our cars at Half Price oh no no I don't want to pay half price for a Ferrari that's how stupid stupid people are you know they get a soccer player and make millions of dollars and they want to pay full price for a Ferrari that's right stupid stupid stupid poor Man with nice car you gotta
feed this right and how do you how do you feed that like what are your of knowledge told you study and I hang out how many friends have billionaires in your in your neighbor how many friends how many billionaire friends you have I have like two they're billionaires US Dollars yes well then hang out with them I I I do that now that just started about six months back Yeah I not all my friends but most of my friends are billionaires what one one one started a school system America he sold his he sold his
business for 1.1 billion other real estate guys he sold it for $2 billion but we're all capitalists H we're capitalists we're not econ we're not economists we're not professors we don't have college degrees most of my friends don't have college degrees right It's just an understanding of how money works and how to leverage it no it's like I never play soccer okay I'm a rugby player you got to find the game you want to play okay soccer is too R players wa so what are those games you got to find the game you want to
play so what are the games that you're playing currently which you like entrepreneurship that's like one right like within that there are multiple Facets that's all there is to me I'm a capitalist so you'll Venture into anything that you find is a opportunity I'm a capitalist there's opportunities all over the place I said I was standing on stage I said a kid could be standing in the slums of Mumbai with a cell phone yeah become a billionaire if it was his head first that cell phone gives you power all over the world I've never seen
the more powerful tool that's right the B if Your brain is stupid or poor do if your brain is poor your self on is poor your job is to educate yourself because schools are not going to do that for you that's right so apart from uh financial literacy you also talk about a lot of other skills that um who the [ __ ] are your friends man you hang out with poor people okay so friend circle is important from that got it who do you hang out with like how do you I don't hang out
with my family because of School teachers like the audience here they we give each other Christmas presents that's about it so the audience here wants to go and hang out with billionaires but how do you begin that Journey like I can't just walk up to a Billionaire's house and say can you be my friend so how would you start that Journey if you had to start from zero you got to feed your brain man it's in your heart how strong are you And your game I don't mind soccer I just don't play the game right
I don't play tennis because it's not my game right I play rugby because it hit I hit people I like that game some people shouldn't play rugby they should play soccer you can be a billionaire playing soccer right so choose your game which you want to play and mine is capitalist this that's his book here I wrote this book here the capitalist Manifesto because our schools are communists your schools my schools this is my friend you want prove there's my friend okay right and my friends even when we were poor we work together we talk
together we teach each other we started business together we don't hang out with poor people that's I don't hang out with my family I live them I love them and all this right I don't go Hi how are you doing I got a new job good Good good good I I got a another master's degree I said good good good good good and they go they call me Bobby Bobby how many college degrees do you have is it zero zero how much money you got zero zero it's all up here it's all in here choose
Freedom right you live in a free I'll say this again India is in the best play right now the battle between Russia China and America and you have a cell phone you guys are smart technology wise right if You can't get rich it's your fault but you have you got to take your brain if you want to go back to school get your MBA and work for Mr Tata good life I don't want to do that but do you think it's I don't want to do that what do you want to do would you would
Mr Tata offers you 10 million a year would you take the job of course you would most people I wouldn't take it no but would you say there is Merit in terms of getting that uh hands on experience Without any risk in the beginning so what people think in their head is that I'll do an MBA degree I'll work for somebody for 3 4 years learn that experience and then start something of my own uh but what happens is usually they don't start because they get sucked into it yeah right but do you think that's
a good path for people or they should not even bother what I know okay you talk I flunked out of school man nothing nothing wrong can an MBA and Work for Mr Tata having a house having three kids go to private school Take One Vacation a year yeah i' rather own the jet yeah I like it yeah do you understand just who what do you want what do you guys want that's the question but unfortunately our schools program us go to school get a job yeah work hard save money pay taxes buy a house and
invest in the stock market that's exciting because I don't any of that so that is very interesting because A vast majority of the people are actually working for people one is the government by paying taxes you mentioned this uh the second thing is you work for the bank because you take loans to buy your car and house correct and the third one is you work for your boss because you work in a company and the more you harder you work that you're just making your boss richer so you're only working for three people and they're
sucking out most of your money um that's how for the Vast majority but they also give you money yeah they give you money as it of course see it's not it's not the three people it's you're the problem the person is the problem right I'm responsible I can't blame my poor Dad I can't blame my mother you know my my my brother likes being poor my sister's a nun I I don't look good as a nun you know I don't drive Toyotas I drive Ferraris what do you want so let's it no wait wait I
you Can't hear what I'm saying the do you want man okay what do you want me I I I want Financial Independence Financial freed that's easy man just be homeless you're free okay so what what is the right what do I want question answer to the question I want to buy a gold mine okay go buy a gold mine do you know how to do it I don't know how to do that you better study right find somebody who bought one I Studied for about 10 years how to buy gold mines I was traveling in
Vancouver British Columbia there a there a show called the v i Vancouver resource investment conference and I go to Vancouver British Columbia Canada Canada and I study with all these guys who own gold mines okay and I went looking for gold mines I found one I found a gold mine in uh this is in 2004 I found a gold mine In dalion China see I don't think you could do it I bought it it's not that simple if it's there I just buy it it's not that simple there's a lot of loopholes because I know
how to raise capital okay I studied how to raise capital I go to Vancouver I studed with guys who raise capital I think you hang out with employees I don't have my I have friends who are employees but my friends are capitalists please hear what I'm saying It's a different mindset like a soccer player is different than a rugby player okay they're both good people same as like in religion you have Christians and you have Protestants and they kill each other how stupid is that they're both Pro both Christians you know right what do you
want and I'm saying right now India is in the greatest position of all it's it's Russia China versus America and in the middle stands India right so if I Were to summarize what is uh some of the key recipe ingredients for um a successful person in today's world is number one is of course become improve your financial intelligence by being more financially literate number two is to surround yourself with people who are better than you and richer than you and who are capit and who are going the same direction as you same direction as you
and the third thing is having a strong mindset as to knowing exactly what you Want and what your mission statement is is there anything else apart from these three things you have willing to fail right that's important yeah most people are you go to school you learn not to fail yeah how stupid is that how does a baby learn how to walk when they get if they fall down and get punished right it's really stupid school is for stupid people right it's okay you want to learn how to read write and do your math you
got to learn that yeah you could be a Lawyer stay in school be a doctor stay in school after that I mean homeschooling is getting very popular these days where parents are teaching their kids yeah are the teachers are the parents billionaires no that's also that yeah I hang out with people who are rich right my rich dad was rich my Poor Dad was poor I went and sought my Rich Dad right I choose my teachers you guys you guys start [ __ ] lazy you think it's easy you think what I do is easy
it's not no you think being a doctor is easy no no it's not think Mr Tata is easy no right they're smart tough men so you keep talking about uh your friend Donald Trump a lot and he is someone who has had like mixed opinions throughout the world right so I just want to understand from you uh what do you how would you evaluate his performance as a president of the United States the best way I've ever had yeah just not what he says look at what he does okay Biden first thing Biden did was
take down the Keystone XL pipeline first initial January 2020 he took down the pipeline he cut off oil from Canada flowing to America and I'm saying you when Trump was President I was selling oil for $30 a barrel my oil came from Oklahoma Texas North Dakota why do you do this it's just me that's what I do agreeing so that's my oil was coming From America so when Biden cut off the pipeline from Canada to America oil went from $30 a barrel to $130 a barrel yeah I made fortunes unfortunately Biden screwed America he made
the poor middle class poor Americans can't afford to put gas in the car they kind of put food oil runs everything you know Tata has oil I know that but you made a fortune right so you're still unhappy with that I do he when Biden cut off my pipeline Well not my pipeline K's pipeline I got richer so have you done any business deals in India no you planning to it's too hard here why do you think it's hard I come here to teach I got say Indians are very smart the bricks are online right
now people are hungry to learn your problem is schools not just India American schools are screwed up America has poverty we have slums spreading all across America do the school teachers do Anything about that I I don't think so and I'm trying to say to you guys this is coming next our pensions are bankrupt My Generation boomer generation we put all of our money into Wall Street Wall Street took it out they're empty you're going to see the biggest crash of us you've ever seen so you're saying the Boomers of us they don't have any
money left because The pension is gone and now that's more than that is that they kept inflating it with fake money so they printed all this money the stock market went up the bond market went up real estate went up now it's coming down so you own not nothing in the stock market zero I own my stocks okay your own I own the company of course yeah I control I don't trust Wall Street I don't trust my Bankers right it's a different world cash flow Quadrant e SB and I all you guys are e and
s's I'm a B in the I if you want to know what the B and I start with that book cost you 20 rupe whatever it is so I want to be a business owner I I want to be like Mr Tata okay then start so I'm I leave from here to go to Singapore I hang out with Jim Rogers from here you're going to singap Singapore Jim Rogers was soros's partner right those are my friends who are your Friends but I couldn't talk to them unless I was like them right does that makees sense
like I can't talk to a soccer player I didn't play soccer but I play I can talk to a rugby player because if play rugby H interesting so let's say that in the world of business there are many business opportunities to be an entrepreneur there's more there's more than ever before yeah so what are the some emerging trends that you are observing right now which can be the Next big thing I'm in education education I'm starting a whole another business with education can you tell a little bit about that not really okay I start P
it's I did it since I was a kid you know I told the story I was a kid I'm sitting there looking at this stuff so what is this and I go to school and all the white kids are rich right and the Asian kids are poor I went oh now I better find out why I use my brain To think so today I own Silver Mines and and I own gold mines and I own Bitcoin Bitcoin and you own real estate and I own real estate I own businesses yeah I'm a capitalist this is
my friend yeah who are your friends I'm not saying I'm right or you're wrong I'm saying this is what I wanted right so I want to hang out with the rich kids I had to get rich right or I could be angry at Him but how do you get rich without hanging out with the rich kids because in the beginning not everybody is allowed in that rich Circle I study stud my God my friend right my God don't you hear a word I'm saying yeah I study constantly but I don't go to school you go
to school to get a degree job a job yeah poor man yeah go to school become a doctor taxes I think that was very enlightening for our audience today I had to learn First thing I the number one skill of an entrepreneur is how to sell so when I got I was a pilot I flew for the US Marine Corps in Vietnam okay okay was shot down three times so I have guts okay they killed a lot of my friends but I came back my rich dad says you have to learn how to sell I
said good I learn how to sell the second thing I had to learn was how to buy real estate for nothing so I took real estate courses I'm like 26 27 years old I'm taking real real estate courses learning how to buy real estate for nothing so on this trip today with uh Pi they have Robert Allen Robert Allen is one of the teachers on this tour I took his course there's good teachers out there but if you hang out with stupid teachers You' be stupid like them I don't have friends with master's degrees they're
stupid I hang friends with financial stat were Rich so Robert Allen was teaching people how to buy Real estate for nothing down I took his course so I buy stuff for nothing down now information's out there you just have to search for it but you have to you have to want it so I'll say it again I go to Singapore I'm going to have lunch with Jim Rogers he's my he's my Guru my teacher okay you know know he the bank of England yeah man that's the kind of guy I want to hang out with
he was like 27 years old he was 27 he was when he Did it he in Soros so this we do it legally ethically more I don't want to go to jail I don't want to be somebody's boyfriend in jail you know yeah do it I have best attorneys the best accountants okay it's a game we play I don't you know I don't play golf because golf you got to be by yourself I play team sports so I play rugby I play with rugby players of the business World it's a completely opposite mindset from teachers
teachers want to be the smartest person by themselves I don't want to be the smartest person but I want have smart people around me honest people okay choose your people around you carefully study I'm listening to smart people do this so I I'll just close with this the battle today is between Russia China and America in between is India the world's Coming apart this way right now we're going to go to war that's a very Grim note to end with but that's the it always goes to war when the money dies I flew for the
US Marine Corps in Vietnam twice I mean two years I know what war is I went to school for it I see it coming so how are you preparing for it Gold Silver and businesses I don't want dollars they're GNA they're just going to print money to pay for the war that's what the war in Ukraine's about right now they're getting ready for war the traditional media they'll never say these sort of things they'll never well because they can't and they they shouldn't really yeah I study constantly I'm watching constantly so this is like The
Insider information yeah that's what I esbi high sensory Inside yeah China is in serious trouble financially they have to go to war so they'll probably hit Taiwan heard it here first no but what's already what's happened Taiwan moved out of Taiwan but chips you know the Silicon chip that's your world I don't think what chips are right Taiwan TSC Taiwan semiconductor moved to Arizona where I live and so the Silicon Valley California and the Silicon Valley silicon Desert Arizona I moved 25 years ago to Arizona to be a near uh Taiwan semiconductor chips because when
businesses come up real estate comes up with it so I've been waiting a long time for this war to start interesting but when the economy gets really bad the yuan's in trouble the Dollar's in trouble that's when War comes out they're gonna print as much money to cause distraction you know what I mean so people get confused and all this so they create a war everybody Forgets about everything happens throughout history right US Marine Corps pilot yes I heard that you won a medal as well for serving with the went to military school right you've
been around for a long time all right on that note guys um so let me just say It's Brazil Russia India China South Africa you guys are right in the middle you're a great country rich Country smart people you put a man you put put us Lear on Space the greatest thing I think Indians have got going for them is you're a gentle but strong people you're very you know do this all the time that's not a like this all the time yeah but you got to get this turned to capitalism okay I guess that
was very very enlightening uh thank you so much for being a part of my podcast I think that's I am going to watch this several Times to kind of digest this fully and thank you for watching till the end guys and um let's see if we can bring another guest in the future who who is this enlightening thank you so much thank [Music] you
