April 12, 2020

How the World’s Wealthiest Invest Their Money | Robert Kiyosaki on The Pomp Podcast

Check out The Pomp Podcast Podcast Page

The best teachers are on YouTube, not at universities
“Be careful what you put in your head and who has got your back” (Choose your teachers and friends wisely)
There is more opportunity than ever before in the history of the world, its sitting in your hand: Your smartphone
“The reason I endorse Bitcoin is because is just for one freakin reason: You’re not part of the system, it’s a separation of government and my money” – Robert Kiyosaki

Robert’s favorite episodes from The Pomp Podcast
- Caitlin Long on Coronavirus: The pin that popped the credit bubble – Check out the Podcast Notes
- Raoul Pal calls for potential economic depression – Check out the Podcast Notes
The Investing classic from 1926: The Richest Man in Babylon by George S. Clason
In Think and Grow Rich, author Napoleon Hill talks about the philosophy of personal achievement
In The Road to Ruin and Currency Wars, author Jim Rickards discusses the making of the next financial crisis
- Robert Kiyosaki and Jim Rickards are co-authoring The Ravens: How to prepare for and profit from the turbulent times ahead, due to come out in May 26,2020
The Creature from Jekyll Island: A Second Look at the Federal Reserve, by G. Edward Griffin
Grunch of Giants: Gross Universal Cash Heist, by R. Buckminster Fuller
Atlas Shrugged, by Ayn Rand

Robert Kiyosaki (@theRealKiyosaki) is an American investor, Entrepreneur, and author of Rich Dad Poor Dad
Host – Anthony “Pomp” Pompliano (@APompliano)

The best teachers are on YouTube, not at universities. University professors care about getting academic tenure, “They are like poor dads”
- PhDs? Robert defines it as Poor, helpless and desperate
Going to school makes you fragile. Get out there and do something
There is no financial education in schools, only financial debt

The shift from the agrarian age to the industrial age was visible: “The horse saw the car”
- On the other hand, old businesses never see the disruption coming from information age startups
There is more opportunity than ever before in the history of the world, it’s sitting in your hand: Your smartphone
- “If you can’t make money with that cell phone, you don’t have it”

The great lie of the Federal Reserve: It’s not a bank, it’s not federal, and there is no reserve; It’s a Cartel
The real crash isn’t in the stock markets, it’s in the shadow banking system (and that’s where all the bail outs are going)
- Robert sums up the corporate debt bubble: “Those CEOs who are parachuting out right now ripped everyone else borrowing the companies’ money, bought back shares, parachute out with stock options and they pay less taxes”
- One outcome of this is corporations’ ratings getting downgraded from triple A to triple B (Ford, GM, AT&T, IBM, etc.)
- Read these Podcast Notes for Raoul Pal explanation of the corporate debt bubble, and these Podcast Notes where Caitlin Long’s illuminates what happens in the shadow banking system
Pensions are broke because they are stuffed with toxic assets – Namely MBS, CDOs, and CDSs (Which also happen to be US top export)

Framework for thinking: “I can’t change the government, but I can change me”
- A crisis will happen whether you like it or not. Navigate it correctly and you come out on top
Robert’s advice:
- “Be careful what you put in your head and who has got your back” (Choose your teachers and friends wisely)
- Take the government’s money, buy more silver, gold, and bitcoin
- Keep in mind: “Pension is not a promise, it’s bullsh*t”

“The reason I endorse Bitcoin is because is just for one freakin reason: You’re not part of the system, it’s a separation of government and my money” – Robert Kiyosaki
We need to have sound money, what Bitcoin has going for it:
- It’s open source, you can’t mess with it
- It better suits younger generations
On a global level people demand dollars when their central banks devalue their currency.
- Then they realize US dollars are also being devalued, so they demand silver, gold, and bitcoin

When people are suffering and desperate, they will accept violations of their rights and civil liberties in exchange for any kind of economic safety net
- Being politically correct is an attack on free speech, similarly, lock-down is an attack on freedom of assembly
Robert’s advice: Build wealth, move some of it outside of the system

“It’s not money that’s corrupt, it’s what you do for money that’s corrupt” – Robert
Both Anthony and Robert agree “The system is dependent on the majority of population not understanding how money works. Which is super frustrating but that is the model”
Consider this: $350B bailout for small businesses vs $1.7T student debt “That’s almost 5 times more student debt as we gave small businesses after government mandating they shut down”