Moving Beyond the Dollar with Gold and Silver - Robert Kiyosaki, Andy Schectman

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Robert Kiyosaki
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In the latest episode of the Rich Dad Radio Show, Robert Kiyosaki teams up with Andy Schectman, president and founder of Miles Franklin Precious Metals, to tackle the pressing issues facing the global financial system today. This episode is a must-listen for anyone concerned about the stability of their investments in an increasingly volatile world.

This episode is essential for anyone who wants to safeguard their financial future in a rapidly changing economic landscape. Kiyosaki and Schectman offer not just a critique of the current financial system but actionable advice on how to protect and grow your wealth. They challenge conventional wisdom and provide a compelling case for why now is the time to rethink traditional investment strategies in favor of tangible assets like gold and silver.

The Crisis of Conventional Financial Wisdom

Robert Kiyosaki kicks off the discussion with a bold statement, challenging the widely accepted financial advice of saving money and investing in traditional assets like 401(k)s and IRAs. He argues that these strategies, often touted as the path to financial security, actually keep people trapped in the "rat race" and far from true financial freedom. Instead, Kiyosaki advocates for financial education that empowers individuals to break free from these conventional traps.

Meet Andy Schectman: A Voice of Experience

Andy Schectman joins the conversation, sharing his journey from humble beginnings to leading a company that has never received a single customer complaint in its 34-year history. Schectman emphasizes the importance of accumulating tangible assets like gold and silver, a discipline instilled in him by his father and one he has adhered to religiously every two weeks for over three decades. For Schectman, gold and silver are not just hedges against economic downturns but represent true, lasting wealth.

The BRICS Challenge to the U.S. Dollar

A significant portion of the episode delves into the rise of the BRICS nations—Brazil, Russia, India, China, South Africa, and now Saudi Arabia—and their collective move away from the U.S. dollar. Schectman explains how this coalition is undermining the dollar's dominance, particularly in the global oil market, which has historically been settled in dollars. This shift could have severe implications for the dollar's value and, by extension, for savers and traditional investors whose assets could rapidly lose value.

The FDIC’s Grim Warning and the Looming Banking Crisis

The discussion takes a serious turn when Schectman reveals concerns raised by the FDIC’s Systemic Resolution Advisory Committee about potential runs on banks. He discusses the possibility of "bail-ins," where depositors' money could be used to stabilize failing banks, leaving average Americans to bear the brunt of financial crises. Unlike the 2008 taxpayer-funded bailouts, these bail-ins would directly impact individual savings, turning them into virtually worthless bank shares.

Gold, Silver, and the Future of Money

Kiyosaki and Schectman both advocate for investing in gold and silver as safer, more reliable stores of value in uncertain times. Unlike fiat currencies and digital assets, which can be easily devalued, gold and silver have intrinsic value and have been trusted as forms of wealth for centuries. Schectman also predicts that blockchain technology will play a crucial role in the future, potentially supporting a new, commodity-backed digital currency system that could offer a more stable alternative to the U.S. dollar.

00:00 Introduction
00:17 The Cash Flow Board Game and Financial Education
01:08 Guest Introduction: Andy Shechtman
01:43 The Importance of Gold and Silver
08:32 Understanding the BRICS and Global Economic Shifts
17:27 The Implications of FDIC and Bank Runs
22:12 The Future of the U.S. Dollar and Global Commodities
34:15 Conclusion and Final Thoughts

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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

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About Robert Kiyosaki

Robert Toru Kiyosaki (born April 8, 1947) is an American businessman and author. Kiyosaki is the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos. The company's main revenues come from franchisees of the Rich Dad seminars that are conducted by independent individuals using Kiyosaki's brand name for a fee. He is also the creator of the Cashflow board and software games to educate adults and children about business and financial concepts.

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