Name: Fake by Robert Kiyosaki - (Animated Book Summary)
Uploaded: 2020-01-05T10:34:07.000Z
Duration: 5 min 48 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Fake by Robert Kiyosaki in his new book, Fake Robert Kiyosaki, well known as entrepreneur, educator and investor is trying to draw the big picture of the way our world is developing.

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The book is divided into three parts, fake money, fake teachers, fake assets united by the idea that we should tell them from real money, real teachers and real assets that we don't want our future to be fake.

Emphasizing that since 1971 when President Nixon took the US dollar off the gold standard, it has become fiat money or fake money.

Kiyosaki claims that there are three types of modern money.

Two government's money dollars, euros, pesos and et cetera.

Three people's money, Bitcoin, Ethereum, zip coin and Blockchain based cyber currencies.

People who work for money, work for people who print money, printing fake money has always ended in either depression revolution war or all of the above.

The author recommends owning gold and silver and not investing or trading it.

According to him, gold and silver are not investments but insurance, all investments have default risk.

Counter party risk, a default occurs when someone does not live up to their end of contract.

Global monetary system is built on counter party risk.

The recent banks pay you interest on your money is because there is counter party risk.

When you save money, the bank pays you interest money for money.

The interest on your savings is your money.

According to him, the elites are warehousing real gold.

People can use fake money to their advantage, using debts to create equity, fake money to buy assets and produce fake money and then use it to buy God's money.

The author compares fake teachers to real one with a lot of examples.

Fate teachers teach via lectures and books.

Real teachers teach from real life experience from their mistakes and encourages you to do the same.

Fake teachers teach you that mistakes make you stupid.

Good grades mean you are smart, you should get out of debt.

Real teachers should tell you that in real life making mistakes makes you richer business and investing are team sports bankers don't ask for your report.

Card that makes the rich richer, the rich don't pay taxes.

Kiyosaki thinks that mistakes are God's real teachers.

He finds it a good idea when entrepreneurs share their experience, organizing schools and courses and work with students cooperatively rather than competitively.

In his opinion, savings, stocks, bonds, mutual funds, ETF S and retirement plan are all fake assets because the cash flows to the ultra rich via compounding fees and expenses.

A government pension is a fake asset because it is taking money from your pocket for years.

Your retirement, it's your greatest liability because fake fund managers invest in fake assets such as stocks bonds, mutual funds, ETF S insurance and cash savings.

Real assets are business, real estate commodities such as gold, silver, oil, food and water.

Kiyosaki explains why paper assets are fake assets investing in them.

Insiders are banks, hedge funds and large professional investors who meet to buy and sell in secret.

According to him, the rich make money via fees and more fees from assets under management, brokerage account fee, trade commission, mutual transaction fee, expense ratio, sales, load management and advisory fee, 401k fee, even if the investments are not making money.

That's why his advice is first look into the fees, not the returns.

Kiyosaki is brilliant as usual at explaining complicated things in a simple way, revealing the rules of the game.

He gives the reader the chance to play to win.

Although his fans who have already read, most of his books can find fake repetitive in some way.

 Find us on Facebook at facebook.com/read and Grow One and also on Twitter at twitter.com/read and Grow One. 

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Fake by Robert Kiyosaki - (Animated Book Summary)

depression

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entrepreneur

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