The Rich Dad Channel
Premiered Apr 4, 2023
Robert Kiyosaki and Andy Schectman discuss the current state of the economy and potential risks that people should be aware of. They refer to three emergency podcasts covering different topics, including the safety of people’s money in banks, the potential consequences of the US losing its petrol reserve status, and the risks associated with the failure of Deutsche Bank.
It’s important to note that the safety of people’s money in banks is a growing concern, especially with the increasing number of bank failures and the possibility of a global recession. Additionally, the US losing its petrol reserve status could have significant implications for the country’s economy, as it would mean a loss of power and influence in the global market.
The risks associated with the failure of Deutsche Bank are not to be taken lightly, as it is one of the largest banks in Europe and its collapse could have a domino effect on the global financial system.
To protect oneself from potential economic crises, Robert and Andy stress the importance of investing in precious metals, particularly silver. This is because silver has historically been a safe haven asset during times of economic uncertainty.
They also discuss China’s role in building infrastructure and industrializing countries in a mutually beneficial way. This is an important point to consider, as China’s economic growth has had a significant impact on the global economy and its policies can have far-reaching consequences.
Host Robert Kiyosaki calls this episode “Emergency Podcast #3” while guest Andy Schectman, CEO of Miles Franklin Precious Metals Investments, talks about the first two “Emergency podcasts.”
Emergency Podcast #1 talked about how the FDIC and the federal reserve bank will determine what banks live or die. “There are roughly 5,000 of these regional banks,” says Schectman. “These banks are responsible for 70% of all small business loans, which is part of the 40% of GNP of our country.”
As the majority of small businesses in America have relied on these regional banks, Kiyosaki and Schectman discuss whether or not one should stay with the relationship they have and prepare for the worst, or take their money and move it into a handful of very large commercial banks. The question is, “Is your money safe in a bank or is it going to be stolen by the banks – called a “bail-in,” as Kiyosaki says.
United States Secretary of the Treasury Yellen lit a fuse under 5,000 banks in this country…forcing everyone into a handful of corporate banks. “It’s centralized banking, they control the whole economy, run by the academic elite…
Mexico has formally applied to BRICS and the rumor is Japan, Australia, and New Zealand are contemplating joining it. This group is reeling against this type of hegemony, symbolizing how the United States and its actions have done more to destroy itself in the past few years than any external enemy could do. “We weaponize our source of power—the US dollar.”
The Ramifications are hyperinflation. When 70% of the world’s population says they aren’t going to use this currency anymore.
As the President of Kenya says, “Those of you who are holding dollars, you better do what you must do. Because this market is going to be different in a couple of weeks.” In other words, get out of dollars and do it quickly,” as Schectman says. “When the dollar dies, along with stocks, bonds, and real estate, people will come knocking. And when people have nothing to lose, they lose it!”
Kiyosaki says, “I would rather have this $35 coin than this “toilet paper.”
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