Tag: financial education

Is gold a good investment in 2023? – Robert Kiyosaki, Jim Clark, Charles Goyette

Jason 0 Comments December 18, 2023 Retire Wealthy Retirement Planning

(upbeat music) – [Narrator] This is "The
Rich Dad Radio Show." The good news and bad news about money. Here's Robert Kiyosaki. – Hello, hello, hello, Robert Kiyosaki, "The Rich Dad Radio Show." The good news and bad
news about this here. This is cash, and this trash. So today we're going to be
talking about the hottest subject on the market today, and it's not real estate, what it is here is this is gold, and this is silver, and of course there's Bitcoin.

So those are the three things. And the reason they're the
hottest subjects on the earth right now is because our money is fake. So this is one of my
favorite books here, "Fake." I'll tell you a quick story
before we get into why gold, silver, and Bitcoin is,
that I was at Safeway, and I'm kind of a guru at
the salad counter at Safeway.

(Robert laughing)
All the women were coming up to me going, "Hey,
what should we invest in? What should we invest in?" And I just happened to be
having in my pocket here, this is a pre '64 US quarter, and it's given to you by
my friend, Dana Samuelson, he's in Austin, Texas. He is American Gold
Exchange in Austin, Texas. Dana Samuelson. So he knows I'm a silver nut. So this is a pre '64, and
pre '64 means it's silver. After '64, it became fake money. It became this here. So I held this up here to the ladies, they want the hottest tip,
and I said, "Buy this here." They went, "Oh!" A quarter? I can afford a quarter." I said, "Yeah, but I'll
charge you $3 for it." And you should have seen their brains, the salad was flying all over the place. (all laughing) (Robert speaking gibberish) I said, "Okay, I'll tell you what, $2." (Robert yelling) They were screaming,
not screaming, but just, "Why would I pay you $2 for a quarter?" And I said, "But this is pre '64." They just could not figure it out.

Now, that's the lesson of today, is that people don't know
that our money is fake. And that's why Rich Dad
exists and all this. But the sad thing about it is, is that AARP turned on my article because I wrote a story of
my mother, I used to save real quarters, cause when
I was 17 years old, in '64, I saw the quarter go to copper.

It was fake. It was an alloy. So I started collecting
dimes and then quarters and half dollars. I had this big bag of real silver. And my mother says, "What are you doing?" I said, "This is real money." So this is, '64, '65, I
go to school in New York. '66, I come home, my mother spent it all. (all laughing) And so I wrote the story for
AARP, they turned it down. I said, "The lesson is
poor people are poor cause they don't know fake money." They don't know the
difference between real money and fake money. So this is a very important lesson here. I have some two friends here from years, and like I said, Dana Samuelson
of American Gold Exchange in Austin, Texas. This is a special category of silver.

It's called numismatic. And numismatic means
collectible and antique. And the reason I respect
Dana is because he was head of the American Numismatics. So I don't buy numismatic, I
don't buy collectible coins, I buy real gold, silver. But if I want numismatic,
like an antique Dodge or something, whatever it is,
if I want an antique coin, I see Dana because there's
a lot of fakes out there. A lot of fake coins. So you got to be very careful today.

But like I said, this
is the hottest subject. I have two great friends here. So Jim, and this is Charles Goyette here. This is his book here, "Red
and Blue and Broke All Over." (men chuckling) So Jim, how long have you
been in this business of gold? – 50 Years. – 50 Years.
– Yeah. – Our time is coming
on this one, isn't it? – Well, I thought it was
coming in 1973 when I got in the business. And it was just a year
and a half or so after Nixon had removed the gold and we got everyone off the gold standard. – The dollar was backed by this here. This is real gold. So in '71, this was pulled out too, right? – [Jim] Right. – Because you just print
as much as you like. – Well it was no longer
backed by anything. It was a Federal Reserve
note, which is no more federal than Federal Express. And we were required
to take that as money, whether we liked it or not. – Right. Right. Another thing too, I
was in Vietnam in '70. '71, I was on my way
over, '72 I was there, and '73 I returned and I
bought my first gold coin.

It was a South African Krugerrand. And the Vietnamese woman, gold was $35 for years, and then in '71 it floated
to about 50, let's say. And so I thought, "Well,
I'll go talk to her." She was behind enemy lines, I
flew my helicopter in there, tried to negotiate with her. I said, "Look, I'll give you 40 of
these for one of these. And she's going, "Spot." I go, "Let me say it again. 40 of these. for one of these," she goes, "Spot." I said, "What the hell
is she talking about?" Well, she was saying spot that day was 50. And all of a sudden here, I'm
a college graduate, hopefully, with my other college graduate,
two pilots standing there going, "We don't know
shit about money, do we?" So spot meant that on
that day, it was 50 bucks.

And I thought because she
was behind enemy lines, I could get it for 40. No such deal. Gold is gold. Spot is spot. Silver is silver. This is real money. So Mr. Goyette, Charles,
why did you write this? Tell us something about your background, why did you write this book here? – Well, one thing is Jim and I
were in the business together a very long time ago that
he was talking about. But you just reminded me about spot. I remember seeing the
"National Geographic" special, this is back in the 70s,
and they went to these guys, these kind of third worlders
in the Amazon rainforest, way deep in the jungle, and these people didn't have any clothes, didn't have any electricity, but they were panning for gold there.

And the camera crew came up
and tried to buy their gold and they knew what the
London goldfish was that day. (all laughing) They totally knew what the
world price of gold was, spot price of gold,
cause it's international, it's all over the world, and it's a real price
for real money, isn't it? – Yeah, the sad thing about
it is I think Americans are the least to know about money. Because we have the Federal Reserve note. I'll tell you one last
story; I was in Peru, I bought a gold mine in Peru. There's no rain, there's just baron hills, mountains up in the Andes. And I see these little
holes up there, I go, "What the hell's that?" And my little Inca guide says, "We've been drilling gold
here for thousands of years, asshole." (all laughing) I said, "I'm not the first guy up here?" "No, you're not the first guy up here." "My great, great, great,
great, great, great grandfathers were yanking
the stuff out for years." And Bizarro came to Peru
and killed them all, took their gold.

– [Charles] Stole their gold. – And so that's why the
Spanish became the empire at the time. Someone from Spain, England, America, America's gone now. So that's what we're
here to talk about today. And we're old enough, the
three of us, to understand that this here is real and this here is fake. But most people would rather have this. This is the problem. – Robert, I saw one of those
YouTube videos where the guys on the boardwalk in Santa
Monica, it's kind of like jaywalking, like what's
the name of the moon? But he's walking around
with a chocolate bar and a silver coin, and he says to the people, he said, "Would you rather have
this chocolate bar," or I think it was a silver bar. – [Jim] A silver bar. It was Mark Dice.

– Yeah. And the people go, "Mm, I'll
take that chocolate bar." (all laughing) So they get a $2 chocolate bar, or a- – It was a 10 ounce silver
bar, it was about $300. And they'd rather have the chocolate bar than the silver bar.
– [Charles] They know no better, it's Jaywalking America. – And I'll say this again, it's the most important lesson: poor people don't know the
difference between real money and fake money.

And that is what it comes down to. So it was in '71, this used
to be a silver certificate, now it's a Federal Reserve IOU. It used to be backed by gold up to, no, this was '67, '64, excuse me, it was silver. And then in '71, Nixon
took the gold out of it. Johnson took this out of
the silver certificate. – Yeah, I remember I was
telling you that story the other night. I remember in 1964 where
we're sitting around the TV, Johnson came on and said,
"Silver has become too valuable to be used as money." And just as I'm sitting here, my dad said, "That son of a bitch.

They're going to take the silver out and they're going to leave
us this garbage coins." And he didn't really
understand it, but he got it. And from that point on,
he saved silver coins. He had about $8,000 worth by
the time he cashed them in in 1980. – Yeah. And I was in South Carolina
where I have a home, and this guy said that his
father ran the theater, and his father said, "There's
just yanking out all the silver coins." The lesson again, is poor
people don't know the difference between real money and fake money. And that's why in "Rich
Dad, Poor Dad" I said, "The rich don't work for
money because it's fake." So the reason I like to have
Jim here and Charles is because this stuff is getting
harder to find right now.

And I was panicking cause I
deal with a lot of guys who have gold and silver. So I called my friends up,
"We cannot get silver." I went, "What?" This is about what,
seven, eight months ago, we couldn't get silver. So you guys are Republic
Monetary Exchange. – [Jim] Yeah.
– Yeah. On Camelback. And I called these guys,
they said, "We got plenty." – Jim has been very,
very good over the years at making sure that the
inventories are high. He could see when these
runs are starting and stuff and the premiums are
starting to go up and stuff. And he's always put his clients first. He makes sure, we're going
to commit a lot of capital to make sure that our
clients can come in the door and get their gold and silver.

The worst thing in the world
is these companies that say, "Well, give us your money now and then we're going to deliver
your gold or we'll send you your silver in six months or something." Don't do that! Don't do that. So Jim's just really
created a name for himself in his ability to always
deliver to his clients. – Well I've always stayed ahead
of the curve, that you can anticipate needs after
50 years in the business. – Well, not everybody can,
because I was panicking, Okay, well step back.
You have the spot price. So let's say today the spot's 20 bucks. There's a premium on top of this coin, or this coin, should I say. What does the spot and the premium mean? – On that particular coin,
it's typically between $4 and $5 an ounce over the spot price. – So spot is the price
all across the world? – Right. And then all of the
products and coins and bars and so forth, they will
be priced accordingly based on the availability, the demand, the cost of refining and
putting them in the coins and shipping and distributor
markup, dealer markup, our markup and all that.

So there's always a premium that you pay to get the finished product. – That's like the tip at
the end of the dinner. (all laughing) – No, it's worse than that. – Yeah! I was watching Fox News
this morning, Fox Business, and they were bitching
about how, she went, where did she go? Oh, she went to the dry cleaners and she charged her, she
put it on a credit card for her dry cleaning; it said, tip 20%.

She goes, "Why do I have to
tip you for my dry cleaning?" (all laughing) People are so desperate to
money because this is fake. It's terrible. – Well, and because they can print it so much that the value
is dropping every day. They print up billions every day. Look at the bills that they
signed of, 1.7 trillion. Where's that money coming from? Well, they've got to print it. Or they've got to create something through a keystroke entry. That means all the rest of
those Federal Reserve notes out there become worth just
that much less everyday.

– Yeah, this is trash. So I'll say it again, the
difference between rich people and poor people; rich people
know the difference between this and this. And so the Republic Monetary Exchange, there's a lot of people out there. Dana Samuelson, my friend,
he's my expert in numismatic. And I was impressed because
you guys had inventory. My other friend, Jerry Williams was out. And I said, "What the
hell?" This is a while ago, "What the hell's going
on?" It was running.

So it must mean there's
something going on because people would rather have this than this now, except for
the ladies at Safeway. (Robert laughing) – But they know now.
(all laughing) – It fried their brains. "Why would I give you $2 for that?" And I said, "That's the
riddle of the day, ladies." We're laughing, we had a great time. But it fried their brains. Said, "What, what, what, what?" And I said, "I have a book here for you, It's called 'Fake.'"
(Robert laughing) And this whole system is fake right now. So we come back, we're going more into how people lie, cheat and steal because anytime there's money,
there's a liar and cheater and stealer around there. I've been saying this for
years, this is God's money. This is fake money.

I like Bitcoin. I call it people's money. Now I don't know much about Bitcoin, but I'm just glad I bought it at six. That's all I know right now. So when we come back with
going more how you can know real money from fake money. Some of the other advantages of right now. I've been saying this for
years, I used to work for Lear, I still have Lear Capital Ads, I said, "Buy silver." And the reason is
everybody can afford this. I think this is about 30 bucks. How much is this today? – Just under $30 for one of those, yeah. – Everybody in the world
can afford 30 bucks. But they'd rather have this.

And that's today's Rich Dad
lesson. We'll be right back. (upbeat music) – [Announcer] Robert knows
one of the surest ways to get rich isn't just
to work, it's to network. That's why he's picked his
partners carefully for decades. And it's paid off in a big way. Not just for his hundreds
of business ventures, but for you, the listener. That's right, even as equities cratered and real estate imploded, this
partner of the show paid out tens of millions of dollars last year. Not just to anyone but to Rich
Dad listeners just like you.

Were you one of those savvy investors? If not, don't worry, our
friends at Masterworks are still full steam ahead. Their fine art investing
platform pulled off three exits just in the last 60 days. Delivering 10%, 13% and 35% net returns. 35%. In fact, everyone of
Masterworks' exits to date has returned at least 9%
net to their investors. The Wall Street Journal,
CNN and CNBC have all been talking about Masterworks.

That combined with their
track record so far explains why paintings
have sold out in minutes. But here's the best part:
as a Rich Dad listener, you'll get to skip the wait
list and get access to this platform in minutes. Just go to masterworks.art/richdad. That's masterworks.art/richdad. See important disclosures
at Masterworks.com/cd. – [Narrator] Feeling
powerless over current events and your financial future? Financial freedom is your freedom. Robert Kiyosaki is the
best selling author of "Rich Dad, Poor Dad." Over 40 million people
have taken Robert's advice. Now it's your turn. Attend Roberts free virtual
wealth building event. Claim your free access
now at RichDadFree.com. Don't wait. Access is limited. Go to RichDadFree.com. That's RichDadFree.com. – Welcome back, Robert Kiyosaki,
The Rich Dad Radio Show." The bad news about fake money.

And again, we're talking
about this stuff is fake and this is real money. We have friends, dear
friends, this is Jim Clark from Republic Monetary
here in Phoenix, Arizona. And Charles Goyette, here's
his book, "Red, White and Blue and Purple All Over." And we we're going broke. And so you guys have been
in the business for a while. I've been in the business
since '72 when I first bought my first gold coin. I still have that gold coin. – [Jim] Wow.
– It's not stored in America though, it's
stored someplace else. – [Charles] Where is that? Oh, you don't have to tell. – I'm going to open my
blabber mouth on TV. (all laughing) That's like my attorney
stands in front of this crowd, he says, "Yeah, I have a lot
of gold, I keep it at home." I said, "Why don't you just
tell everybody where to go? Why not just give them your address too." (all laughing) Attorney's aren't the
brightest guys on earth.

(all laughing) – Well I have strangers that will ask me, "Now, where should I store this?" I said, "I don't know and I don't care." – [Charles] And don't tell me.
– Well don't tell me. So the FBI come, "Did you know?" So Jim, tell us about
what you have right here. You have silver and you have gold. – So I have the kilogram of
silver, which is 32.15 ounces, and then I have a 10 ounce gold bar. And of course, when you
see something that big, how do I know that's real? So we have a device, it's a spectrometer, that we can put, that X-rays the bar. And I've got it all set up. So what I'm going to do
is I'm going to point the device at the silver and I'm going to get a reading. Put it on there maybe
four or five seconds.

It will read right into the bar. It'll come back. And if you can pick that up, right on the screen it says
AG, which is the chemical sign for silver, 99.99% pure. You know that this bar is absolute. We can do the same thing with- – Is there such a thing as fake silver? (crosstalk) Not too long ago, they caught some. – There were some companies
years ago that were making the silver and gold and it
wasn't coming out exactly pure. And what happens then is if
we find that, we just throw it in the melting pot and
then bring it up to pure. Cause you don't want to sell
a bar that's 94%, 95% pure. So it's out there, which
is why we spent $20,000 on this piece of equipment that we can find a counterfeit bar.

If it's not pure gold, we know right then, and this is paid for
itself many times over. Because so many times
somebody will come in and say, "Well hey, I've got this big block of gold and I want to sell it." Okay, let's have a look at it. You go through it, it's pyrite, or it's copper, or it's zinc. – Jim Recer was telling
us, in the New York Bank, he says they found some fake silver. – The bigger the bar, the
better chance that there is. So I'm going to do the
same thing with this gold. Because that's really the valuable. With a $20,000 piece of
metal, you want to make sure that it's what it's supposed to be. Same thing. We come up, AU, gold. 99.99% pure. Which is exactly what it's supposed to be. – So this is January, 2023. What would this cost me, if
I walked into your place, Republic Monetary
Exchange on Camelback Road in Phoenix, Arizona, What would that cost me? – Just over $900 for that. – For that?
– Yeah.

– My God. And how much is this thing here? – That's going to be
around 2,000, over 2,000, 2,050 or more. – This is 2,000, this
is a gold, what is it? – Eagle. American Gold Eagle.
– American Gold Eagle. And that's 900? – Right, that's a kilogram of over. This is going to be close to
$20,000 for this gold bar. – What is that now? – 10 ounces of gold. – [Charles] That feels like
real money doesn't in, Robert? – Can I trade you this for this? (all laughing) – Go get 20,000 more of
those and we'll do it. (all laughing) – You're a little light. (all laughing) – Actually, on that subject,
we were talking about this the other night, Robert,
about cash for gold. I'm one of the few people
who absolutely despise cash for buying gold, and
you'd think just the opposite, that I couldn't wait to get cash. But banks don't want it. Try and deposit $20,000
or $50,000 in cash.

They'll turn you away and
say, "Well, we got to do this, that and the other, and
we've got to file this form and we got to do that." Hey, I would rather have a
bank wire than cash anytime. – Jim's story really
illustrates something with- – Wait. He doesn't want cash. And I thought the reason is
because it might be dirty or it's hot money or whatever it is. It's just a pain in the butt. – Well, it's that, but you know what else? I'm thinking down the road, let's say I acquire $1
million or $2 million in cash that the banks don't want to take.

When this currency is repudiated,
I'm going to be stuck. Just like the people in Germany were twice in the 20th century that they were hauling wheel borrows full of Deutschmarks for a basket of groceries. – Fake money and brought Hitler to power. The the Weimar Republic and
the Reichsmark and all this. Every time there's fake
money, tyrants rise up. Because people know something is wrong. – Yep.

So here we go in this country. – [Robert] Right. – But Jim's attitude now
about cash really illustrates that the government, the
deep state, has won this war without legislation,
without public debate, they have won the war against cash. They've been at war at cash
because it's anonymous, they don't track you,
they can't follow you when you use cash, and
they've won the war. And so, the only alternative
people have to be off the grid, not to be tracked, not to be surveilled, gold and silver. That's it. That's all. – So once again, this is 1964. 1964, I was 17 years old and I
started looking at that thing like this. It was copper. The Romans did the same thing way back in at the end of their empire. So what were they doing when
they put copper in this thing? It's a law called Gresham's Law. What does Gresham's Law mean? – Bad money drives good
money out of circulation.

– So this money went into hiding. So I had bags of it. They said, "Go caddy, take my dollars, go to the
bank and pull out all the real stuff and hide the real stuff." I didn't know what I was
doing. I was 17 years old. Wasn't the brightest kid on the block. But I just knew this was fake. This was fake now. And then I come back
from school a year later, my mother spent it. That was a powerful lesson. AARP turned it down, they said,
"You're cruel to your mom." And I said, "Okay." Anyway, poor people don't
know real money from fake money.

So that's why we have Sara here. So what happened in '71, this became debt. So our company, at Rich Dad,
we encourage people to use debt. This is my other friend here. He's a financial planner who
doesn't recommend the 401k. John McGregor's, this is "The Top 10 Reasons
Why the Rich Go Broke." One of the reasons they go
broke is they have a plan for their money, but they
have no idea what money is. – Well, and I've talked
to people all the time that are multimillionaires,
they sold their business, they did this, that and the other and came into all this cash
that's sitting in the bank and said, "Well, you think
I should buy some gold with some of this?" I said, "Well, you know what they're
doing with the dollar, you know that they keep printing them, they can't print gold.

Now you tell me how much
you can afford to lose of all that money sitting
in the bank, and I would say leave that there and get
the rest of it in gold." It's a bigger risk having paper money. It's depreciating.
– It's a guaranteed loss. – And eventually, these
are going to be worthless. And we're in the 51st year of
fiat money when Nixon closed the gold window. A currency has never lasted
more than 50 years until now. And we're in year 51. How are we any different than
anywhere else in the world? – That's '71- – To 2023.

How are we any different? Look what they've done in Venezuela. They were one of the richest
countries in South America, in actually, the Western hemisphere. Look what they've done to Argentina. Look what they've done in Cuba. Look what they've done in Mexico. Same exact economic principles
that they broke there, we're doing the same things here. – Somebody asked me once, "Charles, how many paper
currencies have gone broke, have gone worthless over time?" And the answer is all of them.
– [Robert] All of them.

And the ones that people still
hold are only on their way. They just haven't arrived at
their final destination yet. – It's like I said, I'm 17
years old in 1964 going, "Something's wrong here." That's Gresham's Law. And I think that's one of the
reasons I'm a rich person, is I know real from fake. And then, so when Nixon
took the dollar off the gold standard in '71, I didn't
really know what that meant. But the first course, I
was in Vietnam in '73, I came back, '74, they made this legal. Remember that? It was illegal. So I had to smuggle
that, I was in Hong Kong, I had to buy my South African
Krugerrand in Hong Kong. I had to smuggle it into the country. Why was that? – It was in '74?
– Yeah.

– Yeah, because it was illegal
to own in bullion form. – Well, in '73 I brought it in. – It was a felony. It was a felony. They could put you in prison
for 10 years and charge you $10,000 fine. They made it a felony for
Americans, free people, to own monetary gold and silver. Or gold anyway. It was a felony. Was it dangerous? Was it going to blow up? Was
it nuclear contamination? Was it going to kill your
neighbors with poison? What was wrong? Well, it was of course,
you know the answer, it's always the same
answer, the government grabs all the gold cause it wants it for itself, so you can't be allowed to have any. It's exactly what they did.

– At that time there were
two very good senators, Steve Sims and Jesse Helms, who introduced the idea of
Americans owning gold because foreigners could own gold
and Americans couldn't. And if there's anything to be
said good about Gerald Ford, it was that he signed the
bill after it passed through both houses to make gold legal to own.

Now unfortunately, at the
time, gold was around $200 an ounce, and over the
next year and a half or so, it dropped to 100. So a lot of the curiosity
of owning gold disappeared. But fast forward to the Jimmy Carter days, 1976, gold went to 100. And by the end of
Carter's term it was 850. And silver went from about
$3 an ounce to $50 an ounce in that four year period. – So during Carter's trend, this was 850? What is this today? – 2,050.

– So why would you save this trash? (Charles laughing) That's what I'm saying here. – It's fake. How about that to sum it up? That's fake. – [Jim] It's a trick. – Another thing I want to
say, cause I'm a history buff, it's about the only subject
I did well in school, the reason he doesn't like the 401k is in 1974 when Ford put us
back on, we could own gold, they put us on the 401k. (indistinct) And today, this is the biggest
reason you want to own gold. Because our pensions, as they
keep raising interest rates, our 401ks are going down. But not only this, my book
wrote with the Ed Siedel, is our pensions are broke. So as the firefighters, police
officers, school teachers, their pensions are gone. So the fed's going to have to print. That's my whole summation. – Well, and what's crazy
about it too is that you get your statement online
every month and it says, "Oh my god, look, I have
$500,000 in my pension plan. Boy, that's going to last
me till the year 2050." It's not going to.

The dollar's not going to
be there, first of all, and the pensions are gone too. But gold will be there forever. – This will be here. This is God's money. We used this as money
for about 5,000 years. But God put it here on the
earth, and that's when I was in the Andes with my old Inca friend, I said, "Geez, look at those holes." He says, "Yeah, we've been
digging longer than you have." And I was in Mongolia, same
thing, there's a place called the Checker Board. They call it the Checker
Board because the Mongolians, this is thousands of years
ago, were digging for gold. Now they didn't have internet,
they didn't have iPhones and all this stuff. Humans intuitively knew to look for gold. That's what blew me away. – Well, and when you think about- – Except for the women at Safeway. They don't know gold from silver. – [Charles] They need a salad bar guru. (Robert laughing) – When you read the stories
about all the Spanish ships that have sunk over the years
coming across the Atlantic, and the explorers go down there, they're not going down there
looking for the currency of the realm of the day and
see if the paper survived; they're going down there
looking for the gold, they're going down there
looking for the silver.

And they find it. And what's amazing is
that if this bar had been in the bottom of the ocean for 500 years, it'll still be in this pristine condition. It doesn't rust. It doesn't erode. It will do the same thing
now 500 years later. And they've brought some
amazing coins that have been in the Spanish ships that
were in pristine condition, that have graded out
un-circulated, like it was the day that it came out of the mint. – What's that joke? Who's the guy in the fed? – [Charles] Ron Paul.
– Ron Paul, he said if a Spanish ship went down with gold, another ship went down with dollars, people would stop diving for dollars.

(all laughing) They still dive for gold. It's kind of a funny thing, but it's sad. But another thing too is I had a pile of extra
silver I bought from you, and I was handing them
on his Christmas gifts. It's $30 let's say. And one woman had four kids. I said, "Give each one of
your children one of them." One silver coin. I said, "It'll there when they
graduate from high school." "No, they'll probably have spend it." I said, "Yeah, they probably will." But that's the problem. I save this. I say in "Rich Dad, Poor
Dad," savers are losers because they save this. If you save this, and if you save this, what is this here? – $30. – Yeah, well what? – Silver, it's a silver round.

Just a generic silver one ounce piece. – It's a buffalo.
– Yeah. I'll call up Jim and
say, "I want buffalos." So he knows what I'm talking about. There's different goofy
kind of coins out there. But I'd rather save this
cause this will be here 10,000 years from now. This won't. You can pass it on from
generation to generation to generation. – I'll be surprised if that
paper dollar is here even 10 years from now. – I doubt it. Yeah. So anyway, we're in very
serious, serious trouble here. And this is the hottest subject going. For years, I've been saying buy silver because everybody can afford silver. When I offer them this
for $3, they went nuts. They went, "Why would I buy that?" Because they'd rather have this. That's the lesson. Final words there, Mr.

Jim. – Well, we sure appreciate
all you do for the freedom movement, Robert. And speaking about gold and
speaking about the fake money that we're passing around, it's a great lesson
for the next generation whether we realize it or not. At our age, and doing all
this for 50 years or more, we've got a great legacy to
pass on to the next generation because they just don't know.

And you are a patriot in the
true sense of the word, sir. Thank you for having us. – Thank you. – Robert, let me ditto that
too, because we're in for some really rough sledding in this country. There's some rough patch of road ahead and it didn't have to happen and
now it's going to happen. And as bad as it's going to be
for the people who understand the lessons that you've been
doing in your educational efforts and teaching them about money, the ones that take action
based on those kinds of recommendations and that
learn about this stuff, they will be so much better off. And the more of them there are
the better off we'll all be because maybe we can have
some kind of commerce still continue when the whole
thing goes topsy-turvy.

So thank you, Robert. – How many of the layoffs
are just starting right now? This is January 2023. – 10,000 at a crack by these companies. 10,000 here, 10,000 there. – [Robert] Because
they're working for this. – Yeah, and this is horrible stuff. These are people that are
living paycheck to paycheck like we've never seen before,
and their personal debt has never been so high as it is right now. – It's a disaster. – And there's now called
the working homeless. They have jobs but they
can't afford to live. – [Charles] Sleeping in their cars. – Yeah. That's because this is fake.
– [Charles] Yep. – Well we have a lot more
information on our website by the way, Robert. – The reason I invited you guys
cause you actually do teach. If you were just promoting your company, you wouldn't be here. So what is a book you have
and what is your website? – Okay, the website is RMEGold.com. – Dot what? Com? – .com, and then my- – I thought you said .gov, I was going, I didn't know you were a fed. (all laughing) – And my book is "Real
Money for Free People, the American Gold Story." – In fact, people that are in
the Phoenix area can stop by, Jim will sign a copy of the
book and give it to him.

But his book is a really good book. And there's a ton of
information on the website too to bring people up to
speed, to learn the lessons that you teach, like
the lessons about fake. And we have a new post
going up, for example, about your book, about pensions. – [Robert] Oh, thank you.
– Cause it's so important right now, especially now the
Congressional Budget Office just announced that Social
Security's finished at 2033. – Yeah. And the reason I wrote this
book was because in '74, that's why McGregor wrote this book here. That was a 401k. But that's when the pension
started getting looted. And now our generation,
the Boomer generation's in serious trouble for retirement. Cause I don't think
it's going to be there. – The American people lost
26% in their 401ks in the last year, through October, so it's very grim. – And that doesn't even
take into consideration the depreciating dollar to go with it too. – So, okay, watch's your website again? – RMEGold.com. – RME.

And then your book here is, Charles Goyette, Red, Blue. – "Red and Blue and Broke All Over: Restoring America's Free Economy." – You're an optimist, aren't you? – My publisher said, "Write
that book about how to put it back together, I said,
"You know they're not going to do that." And they're not, but it's there anyway. – They're going to keep
printing this because this gets more valuable. – We're beyond the point of no return. – [Charles] Yeah. – The sad thing about it is,
as the price of gold goes up, everybody else gets poorer. That's what breaks my heart. I love those girls at Safeway
serving me their salad and coleslaw and all this. It just blew their mind, they said, "$2 for this?" But that's what America
has sold the world there.

That this is valuable and this is fake. This is real. This is fake. – I'll give you $2 for
it, Robert, right now. – I know you would, that's
why I'm keeping it tight here. Here's my silver; the Lone
Ranger had the silver bullet, this is my silver bullet
from Dana Samuelson. Bite the bullet. (all laughing) So thank you, gentlemen.
Thanks for being teachers. And they have inventory. When things were really tough
I was scrambling because- – We were never without anything. – I'll tell you why I was panicking, if I waited a few more
days, the price would go up. And then when I ran in
there and then you guys, not you guys, but my other friend couldn't deliver me silver, I went.

And I said, "What am I going to do?" So I bought it that day
anyway for future delivery. So it was a gamble, so
basically a future delivery. – [Charles] Right. Yeah. – [Jim] it sounds like you did all right. – Yeah. Two last things: there's a thing called distribution and accumulation. Price of gold and silver is low, and silver and gold and
oil, I'm accumulating. I've been accumulating since '72. I own more gold than most people. Most of the gurus on TV. I own gold mines, silver mines because I believe in this stuff,
cause this is God's money. This is fake money. Thank you, gentlemen.
– [Jim] Thank you, sir. – [Charles] Thank you Robert.
– Pleasure to be here. – And when we come back, Sara
be back with a final word here.

So thank you, gentlemen. (upbeat music) Welcome back, Robert Kiyosaki,
"The Rich Dad Radio Show." Thanks to Jim Clark, the
Republic Monetary Exchange, RME, and Charles Goyette of
Republic Monetary Exchange. Because this is the hottest
subject of all today. It's silver and gold because this is fake. So Sara, if you have friends and
family who are still hoarding this stuff here, haven't
listened to this program and discuss it with them,
because I'm now called the Salad Bar Guru. (all laughing) I thought it was hysterical,
but it fried their brains. What's the difference
between this and this? One's fake, one's real. So Sara, what questions do you have? – [Sara] Yeah, well,
just wanted to mention, my brother for my niece,
she's 11, he said, "No more presents.

From now on we only want
you to get her silver." So every year, each sibling
gets her some silver coins. And I was like, "Man, he's so smart." Anyway, I just wanted to
point that straight out. But my questions to you
are, can you briefly discuss the different markings? What does that identify on the bars? – Okay, so this has the size of the bar, which is one kilogram.

Valcambi is one of the
worldwide known refiners of silver. It has their logo on it. It's been stamped with the serial number and the finest of 3.999 fine silver. The gold, a little different. It lists the number of ounces and this is four nines fine. Also with the serial number. And as you saw earlier, we
put the spectrometer to it to show that indeed, both of those are pure silver and pure gold. And if there's any doubt with anybody buying silver
and gold, is it real? We can put the spectrometer to it and show that it is exactly
what the purity should be.

– [Sara] Awesome. The second question I have
is, Robert had held up his buffalo and you called it
a generic one ounce coin. What's the diff? – So the US Treasury
and various governments around the world, Canada, South Africa, make a coin of the realm,
meaning an American Eagle for the United States. So the treasury makes that coin. The premium is significantly
higher for that than it is for this, but it's
exactly the same properties, same weight, same size and everything. – Wait a sec, so if
this was a Silver Eagle, but this is, I call this a buff, what's the price difference? – It's going to be $6, $7 and ounce more to have the name brand,
but silver's silver. So it depends if you, "Well,
I only buy a name brand, I won't buy Costco brand of
something, but I will buy the real ones that you hear
on television all the time," even though it's exactly the same thing.

So you get more silver for
fewer dollars if you buy it in the buffalos or what we call generic. But recognized as being
a coin of the realm and something that you can be
sure that it's the purity that it's supposed to be. So reputable private,
refineries make the buffalo, the US Treasury makes the
American Silver Eagle. – Why would somebody pay the difference? – Why do they? – No, I mean-
– [Sara] Why do they buy- – Money's is no object
and they don't mind paying $6 an ounce more, and it's
a US Treasury stamped coin. But you get more when you sell it too. – I bought considerable amounts from Dana in Austin, Texas, and he traded out my Gold
Eagles for regular gold. And I said, "Why?" He goes, "I don't know,"
but he says, "You just made a lot of money." So instead of having 10
ounces of gold, I now had 15 ounces of gold.

But just because one from
Eagles to something else. All I want is the ounce of gold. And as long as it's pure,
I don't really care. But some people do, right? – Yeah. And either one of those,
it's all recognized for them. So it's personal preference at that point. – [Sara] That was a big
question, cause Robert, if you remember back in
October, the team made a big silver buy, and
that was a big question, when we got the price sheet, we were like, "Why would we pay, if it's
the exact same thing," but that makes sense.

Just a name brand difference. – This is when we couldn't take delivery, we're buying a lot, so we
bought it from Andy Schectman. It was a lot of silver and gold we bought. – [Sara] The last question is, in the beginning of the
conversation we had talked about why you didn't want to
take cash, and you said it's a hassle. Is it also true because cash is devaluing so fast,
it's not really a fair trade. I mean, not fair, but
you know, even trade? Do you feel that way at all? – Well, it's cumbersome. And banks typically
don't want to take cash, and ironically, they don't
want to give cash out either. So we've had situations,
people wanted to go withdraw $100,000 in cash
at the bank, they'll say, "Come back in three or four
days and we'll accumulate it for you, but we don't have it here." I say don't even do that.

Just
wire the money over to us. It's just boom, boom, boom. Simple, we don't have to worry
about any counterfeit cash, although our machines pick it up anyway. It's a cumbersome thing
to do, but I look at the big picture; some point down the road, this cash is going to be worthless. And if the banks don't want
to take it in deposits, I don't want to be stuck
with $2 million or $3 million in cash and lose that. I would rather have money in the bank. Not money, but I mean fake
money in the bank that I can buy real silver and gold with
and have that on the shelf rather than cash sitting there
that is devaluing every day.

– [Sara] Yep. Good. Great. That was it. – Final word, Mr. Goyette. – Hey, thanks for having
us on again, Robert. – And this is your book here. Got to plug the book. – One of one of several. And it's about "Red and
Blue and Broke All Over" and how the country is broke all over and the exact story you've been
trying to explain to people for a very long time, and now here we are. – Another thing we do, Sara, is I send out a newsletter every week, my blog basically, that gives a synopsis of
what's going on the past week and maybe what we're seeing down the road. And just keeping clients and prospects informed of
how we see the market. And whether I'm smart or
not, it doesn't matter, I've been at this 50 years,
I've got a lot of experience and I can share a lot of information that I've acquired over the years.

And I encourage people to go
to our website RMEGold.com, and you can sign up for the newsletter. There's no charge, we email
it out every Sunday afternoon or Monday morning, whenever we
put the finishing touches on. And I would encourage
people to sign up for that at RMEGold.com – And that's why we
invited Charles and Jim, because they are educators like Rich Dad. I buy, I don't sell this stuff. (Robert chuckling) I do trade occasionally. But anyway, so thank
you very much, gentlemen and thank you all for
listening to "The Rich Dad Radio Show," and remember, this is fake and this is real. How much is this today? – That's about $5, so
you were really cheap when you were saying $2 or $3. – Oh my god! I was going to get taken. The salad bar ladies
were going to take me. (all laughing)
– [Sara] That's why he said, "I'll give you $3 for it." – They were trying to cheat
me at Safeway.

My god. – You're behind the times, Robert. You forgot how quick
this dollar is devaluing. – And they're raising
the price of the coleslaw on top of that. (all laughing) So thank you, gentlemen. – [Jim] Thank you.
– [Charles] Thank you. (upbeat music).

As found on YouTube

401K to Gold IRA Rollover

Read More