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This is the rich dad radio show,
the good news and bad news about money. Here's Robert Kiyosaki.
Hello, hello house Robert Kiyosaki, the rich dad radio show,
the good news and bad news about money.
And as you heard, we're in a middle of a major, major,
major auto unquote and DEMEC. And the question is,
is this pandemic or rail and Moss ball,
even if it is rail or not real, which will not saying it is or not,
what is it going to do to the global economy?
What's it gonna do to your portfolio, your future, your jobs,
your retirement, and your family? So have a very important guest today.
His name is spit and a dear friend for years is Bert Dohmen.
He's a coauthor me as the author of the book,
prelude to a meltdown and financial apocalypse, which as you may have noticed,
we're in it right now.
So I'm going to find out how real is this Corona virus.
But more importantly,
what is its impact as a whole world goes into a Pedic and it comments.
Kim ver Burt's, a dear friend and, and always,
always exciting and interesting to have him on the show.
And he's also number one, he's an educator,
which is why we relate so well to him.
He really wants people to get educated about the stock market and what they're
investing in. And number two, he's a, he's a major researcher,
so he goes places where most people don't look.
So I'll give a big commercial message right now,
his publication as the Wellington letter,
I subscribe to many use letters and I dropped them all except the Wellington
letter because Bert actually gives it the information I need,
not the ups and downs of the stock market. So anyway, it's a very exciting time.
The question is, how real is this coronavirus but even if it's not real,
if it's a fake virus, what's it gonna do to our money and our future?
Welcome to the program. Bert, welcome Bert.
Thank you very much, both of you. It's really a pleasure to be with you. Uh,
you know, especially in times like these, eh,
I think it's really time for people to get, you know, uh,
the results of some serious analysis that we do. Uh,
not just the stuff that you see in here and the, uh, financial media.
There's so much bad information going out. You know, like, uh,
I remember on February 24th, that was the first down day.
Uh, you know, we heard, Oh, don't panic. Nobody ever made money panicking.
You know, I have wrote on Twitter, uh,
which is at Bert omen and uh, I wrote, you don't,
panic is a response from nature built into all the big new things.
And it's that sort of response that can save your butt and that's by nature put
it there. So it's good to panic. But you got to panic early.
Yeah. Was
that the first day of the crash?
And now don't you think that people who panicked on that day are very,
very happy? I said,
of course our subscribers didn't have to panic because the Sunday before that
one,
one day before we put out a special bullets and I think it was about eight pages
and we said the headline was the financial storm begins and the last paragraph
had in it,
the ban that them is about to break and we gave all the reasons why it was going
to happen.
The whole rally for one year propelled by about a dozen big cap stocks wrote the
S and P and the Dow Jones industrial index to a new record high.
It was going up, up, up and people thought, Oh,
stocks buying stocks is just so simple. They only go up and I said,
a big bull trap is being set.
This is only happening.
That pushed it up to 12 stocks in order to make it look like a bull market by
the thousands of other stocks are already being pushed down and many of them in
bear markets.
And we showed the difference between the S and P and a much broader index.
We always look at to tell us what the true market is doing, right?
And that's the value line, right? The symbol is a V, a,L , U. G. so,
so Bert Soper, let's get back to the beginning of this whole thing. So,
you know, panicking us. Okay. But preparing is better.
So Kim and I and the rich dad company was set up. We sit here kind of fat,
dumb and happy because we've been preparing for years for this.
And in other words, since I met Kim, she knew,
she knew I was always in a panic mode. Anyway. So anyway, uh,
the question is, is, is this coronavirus real or fake
for the virus? Uh, it's, it's a real virus.
It is highly infectious. Uh, it looks like where it was made,
it was an [inaudible] was made to be highly infectious,
but it was not made to be, uh, highly deadly.
And that is the big difference. And nobody really talks about that. And now we,
we're getting some better statistics. The prior ones were from China,
which you cannot trust,
but now we're getting out those statistics like the people on the cruise ship,
they had the virus going crazy around the cruise ship.
We know how many people were infected. We know how many died.
Now we're getting the numbers from the U S you know, to 105 deaths so far,
14,000 infections.
So we're now getting the real numbers and it looks like for most age groups,
the fatality rate is maybe 1% this is like the flu [inaudible] not a good
reason.
It's actually into an immediate depression. It's actually,
it's actually less than the flu. I just have statistics
from January, February alone of this year that we've got deaths worldwide,
deaths of Corona virus 2,360 but we've got worldwide deaths from the common cold
and flu of just under 70,000 I mean,
nobody's talking about that.
Thank you very much Kim. That is that seed. That is the essence.
And then you have to wonder why are all the governments going into a hysteria
generally. This is just so strange.
Why is this happening? And the governments of other countries,
and let's face it,
most of the people in governments are not that bright and they are now,
first it was a panic. Everybody was at people's panic.
Everybody rushed into Costco to buy toilet paper.
And then the officials suddenly panic.
And that's even worse because they can use force imagery.
For example, the police were giving deadly force,
the power of deadly force for anyone who's walking on the street and violating
the court team. Everybody in Madrid has to stay at home. Okay,
this is this panic you,
you're willing to kill people to save them from being killed by the virus.
Does that make any sense?
Yeah, but, but see said Bert, look, this, the public got to get to right now.
So you think when we're talking early,
you think this is more biological warfare. But the real question is,
let's say it is or it isn't. You know,
it's a big panic that says real or fake who cares at this point,
they're calling out to national guard right now. You know, that's going,
we're going to probably civil unrest. But my question to you is this,
what is going to happen to the economy if I've never, if everybody,
let's say we have 20% unemployment and people cannot work,
people cannot, they don't have any money. And as you know,
any one of these panics, it damages the most financially vulnerable. You know,
just think of all the guys that work in restaurants and all that,
they're not flush with cash and they got kids to feed.
So what's going to happen to the world economy?
That's the more important question.
I think it's fake personally fake from the point of view that the panic is real.
But the virus may not be that deadly.
But the point of view is what do you think is going to happen to the economy of
the world, I think and the stock market.
Well, the panic is irrational,
but the past because of the panic is going to happen and we are going to go into
a depression. Okay. And I believe you don't know if there,
there's some reason to think, and I'm not saying that is it,
but one alternative, you have to think who would benefit from a depression.
Okay? Just just a food for thought. Okay.
If something irrational happens, if something that doesn't make sense,
I have learned from trading the markets for about 50 years with my own money and
not other people's money. Okay? All the guys on TV,
it trade other people's money. I trade my own. Okay?
So I have to be much smarter than all of these guys because when they lose
money, that's the client's money. And so you have to think,
what is sweetie happening? And so many times in the market, we have forecasts,
every sharp crash in the market and every bear market in 43 years of my
business, okay? Right now, during these last four weeks,
we have a program called hedge folios. We have five model portfolios, okay.
And people can line up their portfolio with our model just with a click of the
mouse. That's simple. Okay? What,
what is the outperformance over the benchmark index that we use?
The value line, we are up 69.4%
so you're making money. So you're making money.
almost 70 percentage points above the value line.
Hey, Bert, Bert, Bert, Bert. So will make him on it. My question is,
what is your forecast for the economy? If you have 20% unemployment,
people have no money tax rate. What's going on?
What's it going to look like? That's what want to know.
Yeah, the real it's supposed to look like, you know it's gonna.
It's going to cause huge unemployment.
It's going to cause an avalanche of bankruptcies is gonna cause so many
failures, so many people on the streets.
And when people are hungry and don't have money to pay the rent,
don't have money to buy food, they write it. Okay. And suddenly,
ah, it's capitalism's fault. We need Bernie.
So, and so you asked the question, who would benefit from a depression? So who,
who does benefit from a depression?
Well, I, I know exactly who,
and I even have names but I'm not gonna say it under this program.
Oh shit.
Clear. But it was this happening. It's so quick.
It's crystal clear what is happening.
So w without mentioning names,
what is crystal clear that that's the way on this truck? We all know this,
a panic. We all know this.
It'll people have to do some reading because you know,
I have these conversations with people all the time and they make judgments
without knowing anything. Okay?
And you see something like I just said in this yacht, this conspiracy stuff,
you know, you know what, there's an old statesman Bismarck in Germany,
but 120 years ago, he said,
nothing happens in the world of politics by chance.
Okay? And this is something I've gone by all the time.
When something inextricable happens,
you have to say this was intentional, is, was planned.
And you know,
I'm not saying that all the shutdowns were planned ahead of time,
but may preps they were, perhaps they weren't. I'm not making any judgements.
I'm just considering different possible possibilities.
And that's what you have to do in the market.
So, so, so, so Bert, Bert,
Hey Bert, Bert, look,
everything you've been predicting is coming true.
Now everything you've been predicting is coming true. What way?
So you don't have to tell your letter anymore. I've taught it enough.
A point is what? What do you,
what would you advise people to do right now? And if you don't want to,
then you know the average guy right now, they don't,
they cannot subscribe to your noon. So they don't have any money.
These guys can't put food on the table after this.
So what would you advise people who, let's tell you how you have a 401k.
Let's say you're working for a company that's going to go bankrupt.
What would you say to them? They've already, they didn't, he,
they did not heed your warning. So what can you tell them now?
Uh, you know, I'm, if somebody didn't listen,
uh, I guess I would say to anybody who dug themselves a big hole,
the best thing I can say is stop digging.
Stop listening to the guys who got you there.
But what can they do, Bert?
That's what I say. It started reading some books about the economy,
the economies and the markets and some good books like our financial apocalypse
book. Is it 2008 chronological history, how we call it,
the financial crisis in 2008 if you said by
late in a year we're going to have global financial crisis. Okay.
It was a thick book. Okay. It was still sell it, but [inaudible]
I read, I read your book. You were right on y'all side there.
During that time that wall street was super bullish.
Everybody was super Buddhist and nobody wanted to listen.
Yeah. Burton the car. Bert, Bert, Bert,
you're right. Everybody knows you're right now. But what does a person do?
That's what I, you know I keep, I keep asking, what are you going to do?
The average person's out of money. They have no job. They have,
they have rent them a mortgage.
You have kids never let a toilet paper and that lot of toilet paper and they
read your book now, so they read your book by this too late.
So what would you recommend? Now that's read book. I have
to read my book. It's a little too late for that. We sold it.
We sold it for 10 years. The last 10 years. We said,
this is the guide for the next financial,
so what is the guide?
It would get a few orders once in a while people didn't care.
The market's going up and it will go up forever. You know? I'm sorry,
but once you have lost all your money, I'm not the right person to say you are,
so you can make it back. Even if you have no money,
you have to have money at the bottom. You see all these jokers telling people,
Oh, this is a great time to go bariatric with what anybody.
I listen to them four weeks ago. It's up to the,
up to the neck in stock. They're fully invested and they went down the tubes,
right? Bert? Bert, they're already know that.
They're already know that though. They wanna know from you. What can they do?
An excellent wait, come back. I want you to think about it.
If you are a guy working for, let's say McDonald's,
you have two kids or your wife with two kids,
you're a single mom with kids and all this. He said they didn't listen to.
Then it listened to me. I mean, Kim and I and the rich dad company were flush.
We're making more money than ever before. People want to shot short the market.
I'm making money hand over fist right now,
but we're on the verge of something like you said in your book, the apocalypse.
So, but to tell people they should read your book 10 years ago, not,
not helping them today. So we'd come back,
I want you to think about what could a person do? We'd be right back. So Burt,
what's going to happen to all these guys who borrowed money for commercial
credit and they put up all of these huge buildings? I mean, what do you look at?
Do you look at the debt side of all this construction is going on? I mean,
you know,
sure. If you looked at the, at the charts of the reads,
the REI T yeah, straight down, you know, Oh,
only these buildings are going to go bankrupt,
right? What's going to happen with the banks?
They're going to get billed out. The big ones are going to get billed out.
And then with that bailout money, they're going to buy the smaller ones.
So the banking system is going to be your shrink.
That's the plan. And what is the plan?
People going to even be able to average person even to be able to get money out
of the banks?
Well, yeah, well you got the FDAC insurance, you know,
so it's more money,
right? But, but now if you have more than $250,000,
then you have to be careful because, uh,
they have a change in law now with capacitors are no longer,
no longer creditors according to the new law news,
a few years old. But, um, after the 2008 episode,
the designated the capacitors as shareholders of the bank.
So suddenly you are thrown in there with all the shareholders,
which means you will go bankrupt along with the shareholders. Right?
Most people don't even know that.
Everybody listens to what Bert just says.
The reason I don't like stocks is because you're the first loser that means is.
When the, when a company goes bankrupt,
the stock holders or the equity holders get toasted.
Second are the bond holders of the debt holders.
They have some sort of a chance. So that's, so that's finance.
The most important thing right now, Berkeley's are running out of time.
As you know, you've been calling it four years, prelude to a meltdown,
the China crisis.
You warned us what was going on in China years and years ago that they're about
their a biggest house of cards in the world.
And then now and then you wrote financial apocalypse and you're correct.
No buddy. Listen, very few people listen to me. Well,
what's your crystal ball saying going to happen to China and to the U S economy?
Well, you know with any longterm forecast, okay.
You have to always preface that with saying,
if the facts change sometime in the future, the forecast will change as well.
Okay. And that is only intelligent,
but I would say at this time, uh,
people are the safest having their money in U S treasuries.
Okay. You can buy us treasuries, see the 90 day T-bills,
you can buy a medium term T bonds,
seven years to 10 year duration,
and then you can buy the longterm, uh, treasury bonds as well.
And you combine them all with an ETF so you can just buy him like a stock.
And the medium term is I E F is the symbol and the longterm is T L T.
that's more risky because there may come a time when it would be sold,
uh, uh, because of this massive money printing that has to occur.
But over the next, uh, let's see, until year end,
interest rates are probably going to come down significantly.
We already had people don't believe this,
but yesterday T bill yields to short term Teebo was below zero first time in
history that did you actually have to pay interest to buy a TiVo?
Yeah. And that was short term. The federal reserve, it immediately came in.
They don't like that and they made it go both zero again. Okay.
But we're seeing massive money printing right now by the central banks.
Not only the federal reserve, but worldwide.
Well, it did it the repo market just get one billion, $1 trillion.
Oh, much more. It's $1 trillion per day.
Yeah. That's, you know, what does that mean? The repo market,
what does that mean? What's happening there? [inaudible]
is short term loans, short term loans by banks.
And a bank needs to borrow money in order to meet the reserve requirement of the
federal reserve. They go by and say, uh, to another bank,
can you lend us some money for one or two days? Okay.
And then as collateral,
they have to give a U S treasury a debt instrument,
either a T bond or a T bill or something like that. This, that's a collateral.
Okay. And then there's one or two days later, uh,
they give the money back and they get the treasury security back.
Then those are repose and they're vitally necessary.
And the repo market last summer started drying up and uh,
nobody on TV is discussable because these guys don't understand really how the
repo market works.
But the federal reserve had to go in there and put one and a half billion
trillion dollars into the system. Trillion. Okay.
That was an event and nobody really seems to pay attention.
This is, this is incredible. So anyway,
they did that and they put more money and more money and then the repo market
started functioning again.
What was significant to me is that usually the money that goes into repo Martin
is the excess reserves that banks have allying at the federal reserve.
Big banks like JP Morgan, that one point $4 trillion lying there at the fed.
And they were not putting it into the report market as they usually do.
And I said, I've spent a rat. Why aren't they doing it?
Are they afraid of the risk? You know? So anyway,
we overcame that and I said, well, okay,
fed reserves now is stepping on the accelerator.
We're going to braid stock market until early January.
And then we have to see.
And then we see what happened after the repo market froze up again last week.
Not only that, here's another thing that no one really paid attention to.
The commercial paper market froze and that was the warning in late 2007 for us.
And I said this was a nightmare scenario that some of us speakers like Ray dally
on ice 40 years ago we used to speak at [inaudible] about this at conferences,
you know, he and I would have a beer and so Rita,
can you measure what would happen if the seat,
the commercial paper market would freeze?
I mean it was the end of the world scenario and actually frozen late 2007 and
nobody paid attention. That's what I was what writing in my book,
prelude to meltdown and it happened again last week.
This is so important and it is not discussed in the media with them.
Commercial paper papers, short term IOUs. When a company,
the company needs $5 billion,
whether it be they go into commercial paper market and sell in 90 day unsecured
C IOUs, 90 day ay. And the plan is that when they come,
do they just roll them over for another 90 days and for another 90 days.
And so when the moment comes, they're the phrases and they can roll it over.
They have to come up with the $5 billion and they don't have it.
And that's what happened in 2008. And who was the lender of last resort?
Warren buffet. He came in, he provided the money. Goldman Sachs,
I think that $10 billion from Warren Buffett, a private investor.
So, uh,
this is what happens when the commercial people market freezes up and it
happened again. This is the prelude to something very, very bad.
This is why the federal reserve, right?
And I was putting in $1 trillion a day into the repo bargain and much more into
the other markets.
The money printing right now is going to go out of this world. Okay?
Uh, someone said, I forgot who it was, but somebody well-known, uh,
maybe it was Bridgewater Ray Daddio.
He said we could see money printing of about $30 trillion trillion.
This is, this is, you know, this,
this the weather, one and a half times the annual GDP of the country.
So, so wait, wait,
getting into,
yeah, I know Bert, Bert, well, one big question I have. What is,
you said something, you know that at the commercial paper market was more,
was really the linchpin.
Why is commercial paper market more important than the repo market or are they
equally weighted?
Well, the commercial paper market affects companies directly. Okay. Allman,
the only,
here's another warning signal that everyone ignored in 2007 Warren buffet was
sitting on an all time record amount of cash. Okay.
I think it was around 60 a billion dollars. Okay.
And at the same time you just say, Oh, buy stocks.
It's the greatest investment longterm for individual investors. And I said,
why isn't he doing that? Why is he sitting on so much cash? Okay.
And then we found out because he was only named one that had cash when the
crisis happened the next year. Okay. Now what happened again in January,
I was writing, is it Warren buffet just told investors to buy stock?
Why is he sitting on hundred 25 billion places as much as at the peak in 2007?
Why is he sitting on so much gas if he thinks it was, the stocks are so great,
why doesn't he put it into stocks?
Now we know he's going to be the only one to have cash in this crisis.
Once again, Hey, Bert, love having on the program. I mean,
you have, you have insights that CNN doesn't have. You know that, right?
And knew that the your friends
and all your friends down at the, uh, or Kim used to play tennis, you know,
on a diamond head, diamond head tennis courts. So anyway,
I Bert, I'll say this once again,
I've been listening to all of these years.
I remember coming out of my house on diamond head and my neighbor says that
crazy bird Dauman said, and I said, it's not. So yes he is. He's,
he's trying to scare me. I said, well, maybe you should get scared.
And now people are finally getting scared. So, you know,
your books are prelude to a meltdown in financial apocalypse.
But the most important thing, ladies and gentlemen,
you should get his well into letter because Bert doesn't just give you this
stuff I don't even understand in most letters,
but his latest led a well to let our shows exactly how he tracked,
how he made money, when the rest of the market was coming down.
So the follow people that follow Bert Dohmen are making money today.
That's the most important thing. That's what Bert is saying,
says his letter is called a Wellington letter. Please get it.
And his website is Domon, capital.com D O H M E N capital.com.
So, so Bert,
you've been warning everybody all these years on one or two was trying to listen
to you. Finally,
let me just say one thing. This is really important.
Don't get sucked into these little bear market answers. Okay,
I see stope most people want to buy the little pops, okay?
The major trend is down. This market is going to go much,
much slow over the next two years. Okay? So you don't want to get,
you want to trade with the trend. The trend is down.
So that means you want to ignore the pops and when the pop is exhausted,
you want to sell short, like the pop this morning. After that,
I think the Dallas about 600 points, you know, in a flash.
Okay? Yes. There's always a reason. There was a reason that, yeah,
the governor of New York shut a New York state down. Okay?
But this is important. There's always a reason, okay?
But the reason it's going to keep coming, keep coming. And as you pointed out,
the worst yet ahead,
when all of these millions of people are sitting there without a paycheck and
their expenses keep running and they need food to put with all the toilet paper
is exhausted. They put ketchup in a toilet paper and aided, and you know,
this is a bad time and it's gonna happen. You know this,
I just think we are. We are very lucky.
Lucky to have a businessman president at this time.
And instead of a community organizer,
he is taking very good actions.
He has a terrific team right now. Yes, they're gonna make mistakes,
but who doesn't make mistakes?
But I'm really happy that they're acting so fast that this is incredible.
The programs that they have put into place in such a short time.
So I think that that is very lucky for the American people.
So Brett, thank you very much for always bringing us up to date. And again, I'm,
how much does a Wellington letter cost
a cheap $69 a month for that to get usually two wishes and amongst like this
probably get get four.
Yeah, that's
their issue is issues about 15 to 20 pages. So you get a lot of stuff.
And the reason that there isn't,
I love Burt's Wellington letter is I can understand it.
That's the most important thing. And if you read his latest letter,
you'll find out the people that, but listen to Bert,
I getting rich right now and the people that are watching CNN and CNBC are
getting poor. So Bert, thank you very much. Thank you. Thank you.
All right, thank you. It was my pleasure reading.
I wish all of your listeners really be safe. You know,
don't get sucked into, get rid scams.
Realize that markets don't always go up and when they go down you can make more
money faster by knowing what to do when they go down.
And that's why they should subscribe to the well until our thank you Bart,
come back and we'll come back a little bit.
Going into a few more comments with Kim and I will be right back. Welcome back.
Robert Kiyosaki, the rich dad radio show,
the good news and bad news about the stock market. Remember this is March,
2020 the reason that's an important date because things are changing so fast and
what we say today may be different in a couple of days.
You can listen to the rich dad radio program anytime,
anywhere on iTunes or Android and YouTube and please have a comments on whatever
you're listen to and all of our programs are [email protected] we
archive them for one reason so they can listen to this again because we don't
make recommendations but we do sell education. Listen to this again.
You'll see you'll learn twice as much.
You'll hear it twice as much because there was a lot,
cause Bert didn't stop talking.
He has been right for all these years and he's loving everybody now how right he
is. So just go back to rich dad,
radio.com listen to this again and get your friends, family,
and business associates to listen to this program and discuss it.
Cause this is the most important thing you can do at this time.
As as Burt's say, he's been warning us for years. Kim and I have taken,
taken his warnings to heat and we're doing very well today.
I want you guys to do well too.
Well, yeah, you know it's the same like, uh,
Jim Rickards talks about in many people talk about gold and silver and they say
buy it now because when it, when the time comes and you're going to need it,
it's going to be gone. It's going to be too late. So what,
what I'm hearing Bert saying is, is really,
if you haven't prepared or done anything you're going to be in,
you're going to be in big trouble because it's the preparation that, that we're,
we're doing okay. And a lot of people that we talk to, um, you know, I've had,
I've had several people come up to me and just the last couple of weeks and
saying thank you for what you've taught us about at rich dad because of you.
We're doing fine today. We're going to be okay. Went through this crisis.
So it's important, really important. Very short because Burt wouldn't shut up.
He just kept talking. He's the talker and he says good things.
No, but because he's been right, you know, people, he's frustrated.
I get frustrated and I talked to her friends and family, they go,
you don't know what you're talking about. You're not so please pay attention.
So the thing is just let you know, rich dad's doing very well.
We have more cash, our employees are set.
They don't have to worry about losing their job and all this stuff cause we have
cash. Personally, I, Kim and I am even better off because we have real estate.
We have apartment houses. When they start bailing out the poor,
that money will go to people who rent our apartment houses in a, God bless them.
But unfortunately the American economy is going to be destroyed because the debt
and the poverty going to hit America.
Where public going into a great depression,
the last depression lost at 25 years,
1929 to 1954 so this is going to be bigger than the last one cause it printed
more money
and and isn't it also going to be that more and more and more and more people
are now going to be dependent on the government.
That's the intent. That's what Burt's alluding to is,
is to get Americans who have been pretty cocky and arrogant and the American
spirit is strong, but they broke the spirit.
And now that's why I'm not against Bernie.
But now more and more people are safe shifting to socialism,
but more Marxism and the troll with most Marxists that don't know their Marxist
and a Marxist start Marxism starts when you hit the be PC. Politically correct.
PC means you've lost your freedom of speech. That's what's happening in America,
in the world today.
I can't say anything cause I might trigger something in some wimp. But anyway,
that's life and life in the big city. But think what Kim was talking about,
gold and silver is this, the three types of gold and silver.
One is the futures market.
And the reason the gold golden summer prices went down as a futures market was
selling off. Then there's the ETF market, GLD and El Salvey,
and they were monkeying around with the golden silver.
So the price of physical gold and silver plummeted.
That was the best time to buy. So Kim and I backed up the truck.
We bought more gold and silver that the hard part was, we couldn't get any.
But that's what you have friends.
So when you have friends that we've been buying gold and silver from for years,
they won't sell to a new guy, but they'll sell to their best customers.
Jim talks about it says light toilet paper.
People are hoarding golden silver and the people that are hoarding gold and
silver as they're taking it off of the floating supply. In other words,
the amount of gold and silver is actually going down,
although those more in gold and silver because the rich are buying gold and
silver,
the central banks are buying gold and silver and they're putting it into deep
storage.
So the amount available for the average person is getting to be less and less
and less and less. We go into a great depression. You won't be able to get any,
so that's what Jim records was saying.
You better buy it now while you still can,
but Airbus is going to wait until the panic had ended. They're going to buy it,
then it's going to be too late and the panic has hit as,
so the last couple of days I went to my friend's gold and silver shop.
It's empty but not that it's empty.
He's hiding it and only the best customers get it.
So that's the best life in the fast lane. Is that, is it fair? Yes,
it is fair because you could have bought Bert Birch newsletter and all this
stuff early. He'll listen to us earlier.
The point here is that we panicked a long time ago, right?
We did. We did. We panicked when we had nothing, when we had nothing.
And we just kept we what the rich dad company is what you and I have done over
all the years, it's what we've practiced is what we have done.
It's the actions we've taken. We're done.
We're don't talk about things we haven't done.
We bring in other experts for that.
But the people of the rich dad company and our guests and our radio show guests,
they are people that practice what they preach and so they know what they're
talking about. It's exactly as Bert says, he invests his own money.
Most of those guys on CNBC and Fox,
they invest your money and they lost it and they don't really care cause they
got their fees. And as we say, well, as we always say,
when you ask a financial planner, what should I invest in?
That's like asking a cattle bowl. What's for dinner?
Listen to the rich dad radio show.
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The Financial Storm is Here - Robert Kiyosaki & Bert Dohmen

86 Folder Collection
Yin Tsung Cheng published on April 3, 2020
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