Pod Insights The Pomp Podcast #263: Robert Kiyosaki on How The World’s Wealthiest Invest Their Money About this episode Robert Kiyosaki 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. His book, Rich Dad Poor Dad, is the number 1 personal finance book of all time. In this conversation, Anthony and Robert discuss the current global economy, why the Fed is a cartel, what every individual needs to understand about finance, where you should put your wealth to protect it, why the little guy is going to get screwed in this financial depression, and Robert even shares a number of Vietnam war stories. =============================== BlockFi allows you to keep your crypto, put it up as collateral, and receive a USD loan funded directly to your bank account. Visit try.blockfi.com/get-50/?ref=pomp50 to get started with BlockFi today and earn up to $50 in BTC when you create an interest account and make a deposit of $250 or more. =============================== TaxBit is a refund-maximizing, cryptocurrency tax software you can depend on. Visit taxbit.com/invite/pomp and receive 10% off your tax plan today by signing up for a free trial. ===============================
Transcript 13,282 words · 3 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
0:00 Anthony Pompliano? What's up everyone, this is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Let's kick this thing off. Robert Kiyosaki 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. His book, Rich Dad Poor Dad, is the number one personal finance book of all time. In this conversation, we discuss the current global economy, why the Fed is a cartel, what every individual needs to understand about finance, where you should put your wealth to protect it,
0:42 Anthony Pompliano? why the little guy is going to get screwed in this financial crisis, and Robert even shares a number of Vietnam War stories. This conversation was fascinating from a number of perspectives. Robert is incredibly intelligent and has a number of opinions, some of which I agree with and some of which I don't. Also, please do not consider any of this conversation to be financial advice. Before we get into the episode though, I want to quickly talk about our two sponsors. The first is BlockFi. Right now, you can go and deposit $250 in one of their interest-bearing accounts, and if you hold it there for three months while you earn interest, you'll receive a free $50 in Bitcoin. That's right, put $250 in, hold it for three months in an interest-bearing account, and you receive $50 in free Bitcoin.
1:26 Anthony Pompliano? They currently are offering very high interest rates, up to 6% interest on their Bitcoin interest deposit account, and up to 8.6% on their GUSD and USDC interest-bearing accounts. So go check them out, blockfi.com/pomp. Again, blockfi.com/pomp. Our second sponsor is TaxBit. TaxBit automates your cryptocurrency taxes, enabling you to effortlessly track, calculate, and report your transactions. You can easily connect your exchanges to securely sync your transactions and run them through TaxBit's tax engine. You can generate a completed tax form with a single click. The company is founded by tax attorneys and CPAs. TaxBit is the most trusted cryptocurrency tax solution. Get 10% off your tax plan today with a free trial by going to taxbit.com/invite/pomp.
2:11 Anthony Pompliano? Again, taxbit.com/invite/pomp. Alright, now let's get into this episode with Robert. I hope you guys enjoy it.
2:19 Speaker 01 Anthony Pompliano is a partner at Morgan Creek Digital. All opinions expressed by Pomp or his guests on this podcast are solely their opinions and do not reflect the opinions of Morgan Creek Digital or Morgan Creek Capital Management. You should not treat any opinion expressed by Pomp as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. This podcast is for informational purposes only.
2:44 Anthony Pompliano? Bang, bang. I have a special treat for you today. Mr. Robert Kiyosaki himself, I think the best seller ever when it comes to personal finance. Many of you have probably read Rich Dad, Poor Dad. I have, so thanks so much for taking the time to do this, Robert.
3:00 Speaker 02 I'm honored. I was just saying how much I've enjoyed your guests because I learn a lot. If you talk to Caitlin Long, tell her, except for that lousy Power Outages from Wyoming, would have been a great program, but she was fantastic. And I said, your fiance is still my favorite.
3:15 Anthony Pompliano? I will make sure they both know. So you don't know this story, but in 2008, I was 20 years old in Iraq on a deployment in the US military and I read Rich Dad, Poor Dad for the first time. And I read it along with two other books, Rich is Made in Babylon and Think and Grow Rich. And I always tell people that those three books kind of being read simultaneous at that point in my life changed my mindset when it came to finance, money, work, et cetera. And you wrote the book now, what, 23, 24 years ago? So first of all, just give us an update on kind of the book itself and kind of the impact it's had.
3:57 Speaker 02 Well, thank you for lumping me together with those books, man. Those are classics. I mean, I read them myself.
4:04 Anthony Pompliano? You, you, you, trust me, Rich Dad, Poor Dad's a classic at this point too, whether you want to admit it or not.
4:11 Speaker 02 I can't believe it because it is number one in the world so far, you know, and you know, there was those books that you you told me about that you read and I read changed my life too.
4:22 Anthony Pompliano? Yeah.
4:22 Speaker 02 But for me to think that I I would write a classic, you know, that's classic, you know, because I flunked out of school because I can't write. So I flunked my sophomore year and I flunked my senior year because the teacher, my English teacher says you can't write, but the fact was I couldn't spell.
4:42 Anthony Pompliano? Well, that's why they have a spell checker these days.
4:45 Speaker 02 I know, and I tried this one on the teach, the one was a male, one was a female. And I said, well, it's a very uncreative person who can't spell a word three or four different ways.
4:59 Anthony Pompliano? I love it. I love it. Well, here's I, the reason I wanted to to talk to you on the podcast today is you have done two things that I think are really important. One is obviously you've been teaching people for 20 plus years on personal educate or personal finance, a lot of things that schools don't teach and kind of this idea that savers are losers and not put your money to work. But also recently you've started to really warn people, hey, there is the likelihood that we are going to see a market downturn and kind of how people can protect themselves. Both of those things end up being pretty valuable in the world that we're existing in today. So maybe just start with like, what's your view of where we are in the global economy? Right? What's going on right now from kind of your perspective?
5:42 Speaker 02 Well, obviously we're going for a depression right now. I mean, this pandemic I know is real. But I smell a rat. You know what I mean?
5:54 Speaker 02 And there's a lot of, you know, a lot of people have been warning, I've been warning it's coming, I've been, you know, but most people don't listen. You know, the next book I'm writing is with Jim Rickards, you know, he wrote Road to Ruin and Currency Wars. We've been warning people for years. And the book we're gonna write together is called Ravens. And a raven was a bird of Greek mythology that could see the future. But also, and so if you if you ever saw me back in 2008, I was on Wolf Blitzer's program in January saying Lehman Brothers was gonna come down.
6:30 Speaker 02 And Wolf Blitzer goes, hey, capasa.
6:34 Speaker 02 You can't say that. My advertisers will cancel us. And I said, no, it's gonna come down, you know? And then, so he balked, and then they had
6:44 Speaker 02 an agent of Wall Street on the program with me, and she attacked me, and I just shined it on, you know? But I'm not an agent for Wall Street. I'm not, you know, there are criminal elements. Same was the Fed. So that's kind of why I called it. And then was September 2008. Lehman went down. The Dow dropped from 14,000 to zero, I hope, you know? And I made so much frickin' money. Because you make more money in a crash than you do in a boom, you know? But anyway, people don't listen. And then as, uh, there's not, not only does a raven is a prophet, a bird of prophecy, a Cassandra is also from, I believe, Greek mythology.
7:27 Speaker 02 And a Cassandra is a woman who was born with the gift of seeing the future, except that nobody believed her. And I think that's really the problem, you know? And I know that you're a Bitcoin fanatic. I have a few. But the reason I endorse Bitcoin is just for one frickin' reason. You're not part of the system. You know, I quote you all the time. It's a separation of government and my money. And I'm, you know, what I say to people is, well, what do you know? You're an old guy. See, I'm very old. I'm coronavirus number one target, you know? I've had pneumonia three times. I said, they're after me.
8:12 Speaker 02 But so is Wall Street. You know, the next guys are gonna get toasted are the baby boomers and their pensions. Their pensions are empty. You know, they, oh, it's a promise. No, it's not a promise. You know, it's bullshit.
8:27 Anthony Pompliano? Yeah, one of the things I think that's really important here, and you kind of hit on a couple of these. So first is the system is working as designed. And I think a lot of people miss that point, right? So it's not that the system is quote unquote broken. It's that the system no longer serves majority of the people. And I think once people kind of realize the system is working as it's designed, that highlights part of the issue. But let's start first with the pension problem. I know you're super passionate about this. I have no more banging of the drum to do. So maybe you can get through to people, but help us understand what exactly is the issue with the pensions? And then kind of what you think plays out over the next, you know, 12 to 36 months with the pensions?
9:12 Speaker 02 Well, you know, as you've said, and I've said, and everybody said, you know, the best teachers stay on YouTube. They're not in our universities. The university is a bunch of criminals, you know, I mean, as far as I'm concerned, they're like my poor dad. And I reached out and poured it, they're all poor dads, PhDs. PhD stands for poor, helpless and desperate.
9:32 Speaker 02 They're desperate people. And the only thing a school teacher cares about is tenure. You know what I mean? And because there's another guy, Jordan Peterson, I listened to, he says it really well. He says, you know, these professors, because he's a professor also. And he says, the reason they need tenure is because they need to be protected. So they they sell to the kids, you've you're you're you're weak. You're fragile. You know, you've got to be protected. The government's going to, you know, you got to protect you from the rich. And so that's when these kids are coming out of school. And I was a Marine and, you know, thank you for serving on the army, but I was a Marine.
10:12 Speaker 02 And and a lot of those guys that spit on me when I came back from Vietnam, I went there twice, are today the college professors, you know? Bunch of communist Pinkos. So I don't, I don't really have much affection for college professors. They're good people. You got to go to college, get to become a doctor, a lawyer, an attorney, whatever it is, you know, accountant. But they're not the bravest people on earth. They're cowards. You know, those are the guys that spit on me. They're the hippies of my generation.
10:48 Speaker 02 And they accused me of being a baby killer and all that stuff. And so, you know, like when I go to the Vietnam wall, I want to cry. You know, because my friends died to get spit on. And now they're leaving our academic system. And they're sending out these kids who are fragile. You know, Nazir Talat calls, there's three kinds of people. There's fragile, robust, and anti-fragile. And what I was telling my friends with boys especially, I said, you know, your boys are wimps. You know, they're mama's boys. They goes, oh, don't say that. I said, you know, they can't find a job, so they're living at home. You know, they're wimps. No, no, don't say that.
11:33 Speaker 02 You know, but they went to school. They're fragile as hell. You can't say anything. You hurt their feelings, you know? I mean, Pop, did the, is it your sergeant ever hurt your feelings?
11:46 Anthony Pompliano? Uh, every day. And I used to shut my mouth and do what he said.
11:52 Speaker 02 I know. And if, and if, if somebody wasn't hurting my feelings, it didn't, it meant they didn't love me.
11:59 Anthony Pompliano? Yeah, well, and here, I mean, here's a great example of it, right? I, I said, actually this morning, I tweeted something that I said, Fortune 500 CEOs that are like begging for these bailouts. All I'm hearing is they're basically quitting, right? They're saying, hey, this problem's too big and I can't figure it out. And the comparison in my mind is you have small business owners that their businesses are being decimated, but they're figuring out how to survive. So, hey, we were, uh, you know, my favorite example is, um, the group that was setting up the stages for Coachella, right? The big music festival. They were supposed to do all of the kind of logistics and that. All of a sudden realized Coachella is canceled. So there goes majority of our revenue for the year. They immediately pivoted and they've been building FEMA tents for healthcare services and healthcare workers.
12:43 Anthony Pompliano? It's not a small business owner who says, look, if I don't make a decision here and change my business and adapt, we will die. This business will go under. I'll have to fire all my employees, et cetera. That to me is somebody who's on offense, who who's kind of taking responsibility for what they've signed up for, etc. The opposite end of that is a lot of the corporate CEOs who are saying, hey, I can't figure out the problem. It's too big of a problem, so have the government come save me. And to me, it's like employees should stand up and say, hey, well, if you can't solve the problem, why don't you leave? And let's go find a CEO who can solve the problem because the problem has to be solved. And it's just, I don't know, I just don't get it. But maybe you and I just have a different view of the world, I guess.
13:21 Speaker 02 No, I mean, that's what I see. The corporate CEOs like I, I hear, I hear of, does he have? Steve Burke of NBC Universal, they're all hitting the ripcord, man. They're airborne right now.
13:36 Anthony Pompliano? The smart ones got out.
13:37 Speaker 02 They're pulling that D ring, man. They're getting out now, you know? So they, you know, they've corporate credit, you know, they've, they've basically taken AAA corporations, dropped them to triple B, next stop is jump. And those are CEOs at Ford Motor Company, AT&T, GE, IBM. They've ripped off not only you and I, they ripped off the pensions, they ripped off their shareholders, and they've ripped off their employees. They're bad leaders, you know, and, and that's why I often say that most of the people who are leading the country, like my poor dad.
14:17 Speaker 02 You know, who was that guy? He was talking to, oh, Jesus, camera is, but anyway, he talks about two kinds of leaders.
14:25 Anthony Pompliano? The wartime CEO and peacetime CEO, Ben Horowitz.
14:30 Speaker 02 War, war leaders and peacetime heroes, leaders, and most of our leaders are peacetime. I call them peacetime pussies, you know, and I just really have no use for them. I mean, they're good people, I'm sure, and all this, but how can you screw your own people? That's against the code, man. It's against code. Now, I went to military school, although I had bad grades, I have high SATs. And I got accepted to Naval Academy and Merchant Marine Academy. I took Merchant Marine Academy because we're the highest paid graduates in the world. And when I graduated four years later, I was being paid like my classmates in six to nine making a hundred twenty thousand K a year tax free, which is not bad then, you know, today it's not much, but back then it was a lot of money.
15:16 Speaker 02 And the Vietnam War was still on, this is in sixty nine, and like a fucking idiot. I went down to this, I went down to this recruitment station and there was a guy from the Army, Navy, Air Force, and the Marine Corps and all this other stuff. And so the Coast Guard stands up there, they say, "We're here to save people's lives." And the Navy says, "We sail ships," whatever they talk about. The Army says, "We have the best vehicles in town, the biggest motor pool." The Air Force say they have the best golf courses.
15:52 Speaker 02 And then the Marine stands up and says, "Look, boys and girls, there's only one reason you want to be a Marine: we kill people. If you want to save people's lives, join the fucking Coast Guard.
16:07 Speaker 02 If you want to kill people, join the Marine Corps." And for some reason, I'm standing in front of him and I said, "Oh, this sounds like fun." You know, so I gave up that hundred twenty thousand dollar a year job to make two hundred a month as a lieutenant on my way to flight school in Pensacola, onto Camp Pendleton, onto Okinawa, and into Vietnam, you know? And when I came back, when I came out of country and went back to Okinawa, I was a changed man. And that's what's really hard to tell people, you know? Join the military is one thing, but being in combat is another. When I came back to Okinawa, where the Marine base is and was, was and is, I thought my fellow Marines were pussies.
16:52 Speaker 02 You know, they were supply guys in the rear with the gear and the beer, you know what I mean? Why die, go supply? But I had changed so much, just, you know, I went to Vietnam twice, but each time I came back, it was transformational.
17:09 Speaker 02 So I really have a hard time talking to somebody if they didn't serve in combat, if they're a supply guy or something. But even worse than that is somebody who never served in the military. You know, I just don't understand it.
17:21 Anthony Pompliano? I think part of what you're highlighting here is there's a mindset, right? And I heard you on a recent interview, you basically said, look, this whole crisis is in your head, right? And I thought that that was a really illuminating statement. And really, because what it does is it is the way you react to the crisis, right? The crisis is going to happen whether you like it or not. We all don't want it to happen, but it's happening. And the crisis being in your head, essentially, the way I heard it was, you can either let it happen to you and you be the receiver of all of that pain, or you can be responsible and have personal responsibility and basically say, look, I gotta navigate this correctly. And if you're really good, not only will you navigate it successfully, but you'll
18:04 Anthony Pompliano? actually come out the other side stronger, wealthier, better positioned than you went into it. But it all comes from that mindset of, am I going to let the world happen to me? Or am I going to kind of implement my will on the world as it hurts, right?
18:17 Speaker 02 Right. I mean, if you're not doing well, if you're not thriving today in this crisis, then somebody to your head, somebody crawled upside your butt and into your head and messed with it. You know, go to school, get a job, a car, taxes, save money, and then get out of debt and invest a long term in a well diversified portfolio, stocks, bonds, mutual funds and ETFs. If you've done that, you're in big trouble. So as you know, if you don't change your thoughts, you don't change your life. And that's why I've been, you know, I've been tweeting on, and I'm so old, I don't know what Twitter is. But anyway, what
19:01 Speaker 02 was I talking? Oh, I said, go to YouTube, man, those are some of the best teachers all right, too. And they're not getting paid stupid academic rates, you know, they don't have tenure. Most of them, if they're a real teacher, they're doing really well today. You're doing well, I'm doing well. I would listen to us, not that phony at Harvard, you know, the peacetime leader.
19:23 Anthony Pompliano? Yeah, but I think that this also like what you're highlighting, you know, and again, you've said it before is like the dying of the industrial age and really the acceleration of a shift in information age. Maybe explain that a little bit. What do you mean when you say the industrial age is ending and we're now really getting thrust into that information?
19:41 Speaker 02 Well, look at what we're doing today. You know, I mean, in the industrial age, when it would change from agrarian to industrial, the horse saw the car. You know what I mean? The horse could see the car and I said, oh, my job is done. And the horse was finished. That's up for racing. But today, you can't see the change. So in 1989, when the World Wide Web came up and the Berlin Wall came down simultaneously, I thought that was interesting. You know, so that was it's another transformation. It's no different than when, you know, let's say I'm a king, I'm a king in Portugal or something, and I got all my archers and my
20:22 Speaker 02 swords guys and my spear guys, and some entrepreneur drives up there with his cannon. It goes, he just loads that cannon and blows the guy's walls down, you know. Well, that's kind of what's happening today. You know, all the old guys standing in their castle walls, and some entrepreneurs sitting there pounding the crap out of them. So exactly when I was with Steve Bark of NBC Universal, he was saying the guys, what we're doing, the guys on social media are kicking their butts right now. They don't know what to do. You know, they can't stop us. So that's kind of what I'm talking about. The problem is the average person, because they went to school looking for a job, they can't see
21:03 Speaker 02 what's going on. They're blind. So, you know, like, and I think it was on your program, you hold up a cellphone, you got more power in that cellphone than when I first went to the academy in New York in 65, they had full, you know, rooms blown, spare computers and all that. You got more power in that cellphone than that spare computer at my school in New York. And if you can't make money with that cellphone, Hang up the jockstrap, man.
21:36 Anthony Pompliano? Yeah.
21:36 Speaker 02 You don't have it.
21:38 Anthony Pompliano? Yeah, and I think that part of this is the models don't change, just the execution does, right? The difference between kind of old school NBC live television to what we're doing now to the kid who's posting a TikTok, you know, six second video. It's all just a guy, Rich Greenfield came on, he said, it's a war for attention. Because everyone talks about streaming wars or movie wars or TV wars. He goes, it's all the same. It's just there's 24 hours in a day. Somebody's going to sleep about eight hours of those. So you got 16 hours left and we're all competing for the same hours. And how do you entertain or inform somebody over everyone else? And it ultimately comes down to value. And I think to your point, more and more people are finding the value outside of those traditional means, because they just think that it actually has a bigger impact.
22:24 Speaker 02 Well, if I could go back to something more basic than that, what I, we started talking about the start of this whole thing.
22:31 Speaker 02 Is that I told my, my friend, I said, you know, I said, your, your son is a winner.
22:38 Speaker 02 And I said, have him join the Marine Corps. Join the fucking army. Do fucking something. You know, grow up. Just grow up. If you're hiding out sucking your thumb with mommy and daddy, there's something really wrong with you. Do you know what I mean? There was some, there's something lacking in your character. Of course, this is a couple of years, this is when Desert Storm first kicked in, you know, and the son never went into Marine Corps because his mother was afraid he might die. I said, well, he might live too. He might die. I said, no, he'll probably be a supply guy in the rear with the gear and the beer, but at least he goes through basic training. You know, but they don't get it.
23:22 Speaker 02 And, and that, and that's the thing between wartime leader and peacetime leader. Most people are peacetime pussies. They're so afraid today. And there's more opportunity, as you and I know, than ever before in the history of the world. And it sits in your hand, it's called an iPhone or an Android, or what do you guys call those damn things? But you can't think because you're so afraid.
23:46 Anthony Pompliano? Yeah.
23:46 Speaker 02 And that's the problem.
23:48 Anthony Pompliano? So one of the things that you've done a fantastic job, I think, teaching people over the years is how money in the economy works, right? Everything from the cash flow quadrant of just get the hell out of the left side and get on the right side of the thing, etc. You've literally educated millions of people. For those that don't understand it, the stimulus, I think, is, uh, there's two components to it that crack me up, right? And I want your opinion. So the first is the $1,200 check. I just call that, that's the bribe. That's the bribe for social, to avoid social unrest. Ah, we're gonna give you guys 1,200 bucks, everybody shut up and, you know, we're trying to help you. And if things get really bad, we basically give you $1,200 and you're good, which isn't actually helpful to majority
24:32 Anthony Pompliano? of people, right? But then you also get the stimulus to the corporations, which, you know, you've highlighted, it's just socialism for corporations or socialism for the rich. So maybe talk a little bit about what exactly you mean by socialism for corporations or for the rich?
24:46 Speaker 02 Well, I think there's a, there's a great book. It's a big book, but, you know, get the book. It's called The Creature from Jekyll Island by my friend, J. Edward Griffin. And this was, I think it's the 1990s this book came out. And he wrote in there, bailout is the name of the game. So the Fed's only purpose, and the Fed is not a bank. It's a cartel owned by the richest people in the planet, which we'll never see. They're, and they're this guy, Brunch. This is Buckminster Fuller. Brunch stands for Broke Universal Cash Life. So the guys that own the Fed, control the world, not the Fed, but they control the world. So once you understand that, you go, okay, now I better start doing something
25:31 Speaker 02 different. So what the Fed, what the, the creature does, it drops the world into this crisis. And the pandemic, pandemic is probably real. But then you get so desperate, you'll take the money. It's communism.
25:51 Speaker 02 Yeah. See what happens, what Edward Griffin says in A Creature from Jekyll Island, was that when Marx attempted to bring communism to America, the problem was Americans are too tough. The American spirit is too strong. So what Griffin is saying here, what Fuller calls Grunch had to do, or Marx had to do, was introduce socialism first. So the way you introduce socialism is called social security and all that. They have these crises, the depression, you know, 9/11, this one over here. And people get so desperate. Rickards is saying the same thing, you know, the road to ruin and all that.
26:34 Speaker 02 We get so desperate, we'll take anything. And so they're gonna give you this thousand dollar check, but first have to bust your spirit. And that's what I was saying to my friend, you know, send your kid, even to the coast guard. I mean, do something, you know, grow up. So you get so desperate, you take that check. Next stop is communism. So he goes capitalism, socialism, communism. And you can see it right now because they're gonna bail Boeing out. Guess what? The Fed's gonna take part ownership of Boeing. That's communism. You know, study economics, you idiots out there. I mean, that's communism.
27:16 Speaker 02 So they bust our spirits, oh, $1,200 from the government, because I don't have a job. Well, that's the same exact number they did in Hong Kong not too long ago. You know, all those guys were rioting in the streets? They gave them $1,200 also. And this book, Grunch, by Buckey Fuller, gross universal cash heist. There's VR money systems. That's why there's no financial education in schools. And that's why today I'm doing better than ever. I'm making money hand over fist. You know, my biggest problem is I can't get enough inventory of my cash flow gains. It's a good problem, not complaining. But we have to pay extra to air freight them in, you know, stuff like this stuff.
28:00 Speaker 02 But it's a good problem, but we were prepared for it. Yeah. If you went to school, you're not...
28:07 Anthony Pompliano? Yeah, I think part of what you're really highlighting here is this whole idea that anytime a crisis occurs, it's an opportunity to grab civil liberties, personal freedom, and also economically. And the part to me that I don't understand why people are missing this, but I think you've done a great job highlighting it, is the socialism for the rich and the corporations, that's going to happen. Whether you and I like it or not, it's going to happen. And so that's just, you know, what it is. But the cost for the bottom 50% of Americans, when they, when the stimulus occurs, right, that the devaluation of the currency, and kind of all of the things that I think the gold bugs and the Bitcoiners have been yelling and screaming about for years, it's here, it's happening right before
28:50 Anthony Pompliano? our eyes. And the sad part is that the people who get hurt the most are the people who are the most vulnerable, right? The people who actually need the most help, they get hurt because they're sitting in cash, they have no real assets, they're getting paid, you know, hourly wages that aren't adjusted for inflation, etc. And there's nothing they can really do other than educate themselves, which is what you spent the last, you know, 20 something plus years doing for people, I think.
29:15 Speaker 02 Well, look at the worst part about it, too. They send their kids to colleges or universities, and they load up the student loan debt. And that that occurred in 2009, you know, when Obama took, he basically said to the banks, "Look, you lend these kids all this money, and the Fed, well, the Treasury will back them up." And now those kids are desperate. That's why, that's why I wrote Rich Dad Poor Dad back in 97. I created my cash flow board game. It says, "Our schools don't teach us anything about money." But that's what this book was here, and Grudge was dying. It's not an accident. Grudge stands for gross universal cash. And we can see it today. That's what this book is saying. We're shifted from capitalism.
30:01 Speaker 02 To socialism, you have Bernie Sanders and AOC and the rest of those cartoons running. And, and then when they bail out Boeing, which is in trouble anyway, but they're gonna take a percentage ownership. So you can see, there goes some capitalism, socialism, communism. And that's what this guy was saying. That's what creature from saying, and that's what Rickards is saying on the road to ruin. This is not a mistake. And we've been warning people all these years, and they still send their kids to college and learn nothing about money. But they learned they're fragile. You know, you know, this, you gotta be politically correct. Politically
30:42 Speaker 02 correct is a first step of communism. It's called the freedom of speech. If I have to worry about hurting your worthless little feeling, I mean, I'll never go anywhere, you know. You know what, there's 72 gender pronouns now. You know, in the Marine Corps, there's only two. He or she. That's it. You know, and if you're not a he or a she, you don't belong in the Marine Corps. They'll kick, they'll, they'll get you. But today, it's like 72 gender pronouns. I don't even know what they are. But so not only do I have to worry about not knowing your name, I have to know the gender pronoun. You know, because you're so afraid having your feelings hurt.
31:23 Anthony Pompliano? What, what do you think? So let's kind of think of, we know what the problems are, right? You've been highlighting it. There's a bunch of people are highlighting all of the economic issues that are happening right now. What is the solution? And what I want to start with is let's go macro first in terms of if you're the president, if you're the head of the Federal Reserve, etc. How do you solve the problem or turn it around? And then we'll go to the actual individual. But what do you think the solutions really are here? Or are there not?
31:52 Speaker 02 Well, I think that was a great book written years ago, the 50s, was called Atlas Shrugged by Anne Rann. As guys like you and me, we're going into hiding. The capitalists go into hiding as socialists and communists take over the government. So I have several hiding places right now, you know? I can't tell you because I'd have to kill you if I told you where I'm at.
32:14 Speaker 02 But I've been, I've been hiding for years. You know, I just write these books and all this, that, you know, my money isn't anywhere. You know, and it's the same old thing. So you've got to find your friends. I have my rich dad advisors, man, I trust these guys with my life. And they're, they're women too, you know? So that was the best thing I got in the Marine Corps. When we strapped in, you know, I was a, I was a gunship pilot and we strapped in. We were the band of brothers. It, it wasn't lieutenant and sergeant and corporal and all that. We were just brothers, man. We were going in to do a very, very dangerous job. I went down three times and I wouldn't be here today without my brothers. You know what I mean?
32:55 Speaker 02 And I come back, I come back, I land at Norton Air Force Base in California and these hippies start spitting on me. I'm going, you know, I should have shot you guys, not the other guys. So I have an attitude problem, Bob.
33:11 Speaker 02 And so I'd rather hang out with you than some politically correct person. I don't know what his real gender is or her real gender is. You know what I mean? I don't really care what your gender, you wanna, you wanna jump on other boys? Have a good life, you know? I don't wanna do that. I like women. But if you wanna tranny and all that stuff, that's up to you. I don't really care. But you get upset that I don't respect your sexual choices? Why should I care? It's not my business. So I think a lot of this transgender stuff is spreading hate and anger and frustration at me. You know, I'm, I'm very happy liking women, you know? So anyway, I don't understand what's going on in our society.
33:55 Speaker 02 So that's why I think the solution is choose your friends carefully. Get your band of brothers. Choose your teachers wisely on YouTube. But you gotta be careful what you put in your head and who's got your back. That's number one. Who got your back? And like, you know, I said, your, your fiance is gorgeous. My wife is gorgeous and all that. They're beautiful and they're smart and they're, you know, they're, they like, they like what they do. Whereas some of my friends have wives that are, I'm not sure what gender they are.
34:27 Speaker 02 You know what I mean? I'm gonna get killed for this, this video. I just think it's kind of funny, you know? I always say the, the biggest lie ever told is to let Pat play ever after.
34:45 Anthony Pompliano? So what do you, what do you think is the economic solution though? Right? So, so like, what can the Federal Reserve do or the US government? How do we stop this?
34:53 Speaker 02 That's, that's what this book is saying. The creature from Jekyll Island. The name of the game is bailout. Their job isn't, you know, of inflation and their secure economy, whatever they say it is. Their job is to protect the rich. So they're gonna bail out, you know, so they're, they bailed out the biggest corporations. They bail, they're bailing out the shadow banking system right now. You know all this. You know, they're, they're, they're bailing out the commercial paper market right now. The big crash is in the shadow banking system and corporate credit. And those CEOs who are parachuting out right now, they ripped everybody else borrowing the company's money, like, like Ford's money.
35:33 Speaker 02 They bought back their shares, they parachute out with stock options and they pay less taxes. They pay capital gains versus ordinary income. You know that? I know that, but the, we have, we have a zombie company called AT&T, you know, IBM, uh, General Electric. They used to be triple A, they're triple B now. Our CEOs are criminals, what they've done to our companies. But they're the best and the brightest from our school system as, as those peacetime leaders. They ripped us off. And so is the Fed ripping us off? And so is our government ripping off?
36:13 Speaker 02 Wall Street, the reason our pensions are broke is because they stuffed our pensions full of these toxic assets, you know? What's the number one export of America? Toxic assets. We ship them all over the world. Australia's gonna die because they, they bought our CDSs, CLOs, MBSs. They bought all of our toxic assets all over the world simultaneously. And people go, oh, I have a college degree. What's a college degree? Uh, uh, science.
36:44 Anthony Pompliano? One of my favorite things that you've ever said is that the great lie of the Federal Reserve is that it's not a bank, it's not federal, and there's no reserves. It's kind of the triple, the trifecta, if you will, of just the three things that people think it is. None of those three things are actually true.
37:00 Speaker 02 And the worst is a cartel, like the Medellin cartel, the cocaine dealers. Well, they're not much different. They're highly educated people like my poor debt, PhDs, poor, helpless, and desperate, and they'll do anything for that paycheck. And that's what's running our country, our world and all this. It's just tragic. And it all starts with the education system. What does school teach you about money? So the school system's part of brunch, gross universal cash, I spoke to Menzel Fuller. That's why there's no financial education. And that's the problem. And that's what Rickards is saying in this book, The Road to Ruin. He talks about, don't let a good crisis go to waste, because that's when the fascists stepped
37:42 Speaker 02 in. And the fascists say, oh, we have this thing called the coronavirus. You must have social distancing. You must wear a mask. You know, you can't touch, you can't, I don't know what you can do, you know. I just love Trump. He gets up there and he goes, yeah, you should wear a mask, but I'm not going to. I like that guy. You know what I mean? Screw you.
38:00 Anthony Pompliano? I just had Tim Kennedy, who's a Ranger qualified, special forces sniper, come on the podcast. And one of the things that he talked about was this whole idea of, there's a number of states now that are saying, Robert, if you're from New York, you can't come to Rhode Island. If you come to Rhode Island, we're going to pull you over. And if a neighbor knows that you came from New York, we're going to come to your house and question you and all this stuff. And Tim put it great. He goes, you know what they should do? If you're from New York, they should take the New York Yankee sign and they should stitch it into your shirt. Actually, don't even use a New York Yankee sign. Why don't we just start with a star? Right? And you very quickly can see, where are we going? What is happening here? And to your point, when people are suffering and people are desperate, they'll take any
38:45 Anthony Pompliano? violation of their rights, their civil liberties, etc., in exchange for that economic kind of safety net, which is what we're seeing occur right now.
38:53 Speaker 02 Well, that's what my research always says, you know, those two kinds of people in the world, whips and pips.
39:01 Speaker 02 A web stands for where is my paycheck, sir? And a pimp is put it in my pocket, sugar. You know? So, you know, like my, some of my friends is like, you know, I'm gonna, I'm gonna get a huge check because I have employees. They're gonna give me a huge check. Are you gonna take the money? I said, of course. What are you gonna do with it? Buy more, my, buy more gold, silver and bitcoin. I don't need the money, but I'm gonna take it anyway. Yes, but that's not fair. I said, well, not, it's fair to me. You know what I mean? I can't change the government, but I can change me. I can protect my team. I can protect my employees. My employees are, are flush. They have very high paying jobs.
39:45 Speaker 02 I show them, I show my cash status. They know we can pay them. Well, so when the government offered, I don't know, 350 billion, whatever they did the other day, I took it. I just had my CFO fill out the forms. We're gonna take the money. I'm just gonna reinvest it. I didn't be watching my tweets. That's all I say. Take the money, buy gold, silver and bitcoin. Don't be stupid right now.
40:09 Anthony Pompliano? Yeah, so, so let's switch to the individual, right? You've got a, a mil, millions and millions of people in the United States. And they're now saying, okay, here's where we are. I wasn't paying attention. I didn't heed the warnings. I'm now sitting facing what is at a minimum of financial crisis, if not a depression. I most likely still have a job, but that is in question, uh, moving forward. What do I do? And I think that's the number one question people want to hear from you is just, what do you do if you're an individual today? In order to weather the storm and also put yourself in a better position for that financial freedom in the future? Given the macro environment we're in.
40:51 Speaker 02 Well, I think people should, you know, watch your, uh, your last videos with Ralph Paul and, uh, who was the woman again? She was fantastic.
40:58 Anthony Pompliano? Caitlyn Long.
40:58 Speaker 02 Oh, she's fantastic. I love, I love smart, beautiful women. You know what I mean? It's, I just love them.
41:05 Speaker 02 I like pretty stupid women too, but I still like, you know, smart women too. In other words, the best teachers are on YouTube. Wake up. They're not in colleges anymore. The university system is corrupt. They sold out. They're taking all of the student loan money, ripping off our country, ripping off the kids and all this stuff. And they're not teaching them anything that's useful. You know, most of these college kids coming out, I can't hire them. In fact, it's almost a detriment to say you have a college degree around my company. Do you know what I mean? Because what do you know? There's a lot of things I have a bachelor of science to go. That's ten for BS. That's like PhD is poor, helpless and desperate. I can't hire these guys. You know what I'm talking about?
41:50 Speaker 02 Yeah, I'm talking about they're a bunch of wimps. Where's my paycheck? I want my benefits. You know, are you going to protect me? No, I don't think so. I think we're on the wrong team here.
42:01 Anthony Pompliano? So when you look out and you say, okay, these people got to get educated. So step one, get on YouTube, get on these platforms, learn from those who are creating all this content. That's kind of step one. Step two then is you've always said for a while now, real estate, gold, silver, etc. What I'll consider kind of traditional inflation hedge type assets. What's your view on those assets right now? So forget Bitcoin for a second, just kind of the more traditional real estate, gold and silver.
42:29 Speaker 02 Well, first of all, real estate, gold, let me go this way. It's real estate, I mean, it's gold, silver and Bitcoin. The reason is you're off the central banking system or outside the system. You know, you say it's the separation of money and government. And that's why I say gold and silver are God's money and Bitcoin is open source people's money. I don't know much beyond that, but I'd rather have that than the dollar. I don't have to mess around with the dollar. Is that correct? But most important, this is your greatest asset, your brain, or it's your greatest liability. And if you're in trouble today, then a liability is between your left ear and your right ear. Because you absolutely drank some Kool-Aid along the way.
43:13 Speaker 02 You know, you thought you were doing the right thing, like go to school, get a job, pay taxes, work hard, save money, get out of debt. I don't do any of that stuff.
43:23 Speaker 02 You know, the reason I like real estate is for two reasons, debt and taxes. My banker will give me all the money I want to buy good real estate. And with this crash coming up again, there can be a lot of good real estate coming up. It's not getting commercial, but it's going to be a lot of good real estate coming up. And I pay less taxes. If I have a lot of real estate, I pay no taxes. So it's debt and taxes. That's the main reason. Now, people say, well, aren't you afraid because the markets are crashed? Your tenants aren't going to pay your rent. I said, I understand that. But the government will bail me out. That's called social, you know, it's called, what do you call it?
44:04 Speaker 02 Is that me? Oh, anyway, it's, it's, it's, it's basically bailing out is social. I'm sorry, I don't know who that is.
44:14 Speaker 02 And, you know, um, I'm so, and I can talk.
44:21 Speaker 02 Okay, anyway. Where was I? So you've got to know the game. Understand the game. I'm going to get bailed out no matter what I do. And that's why this book here, A Creature from Jekyll Allen, 1990. Bail out is the name of the game. They'll always bail out the rich.
44:40 Anthony Pompliano? And, and so I get, I guess really what is interesting about kind of your view of the world now, right? Is the real estate you're using as an advantage when it comes to the taxes and debt. And you're able to build, uh, you know, quite a nice real estate portfolio, uh, and, and build a real nice business there. You've got the financial education component, whether it's the radio show, the, the books, uh, the, the board game, et cetera. You've built a great business there. And then what you, it sounds like you're doing at least is gold, silver and Bitcoin as a way to then take portions of your wealth and get out of the system. Right? Kind of escape into these non-central bank, uh, currencies or stores of value. What changed for you? Cause I think early on Bitcoin, you weren't as excited.
45:24 Anthony Pompliano? And now I think you've said, hey, wait a second, this is outside the system. I actually really like this. Was there one or two conversations or anything that you read or anything that kind of changed your mind? And, and really kind of opened your eyes to it?
45:35 Speaker 02 Yeah, it's called the price went up.
45:39 Speaker 02 Look, I'm gonna just say this much, alright? I don't invest in things I don't understand. In my lifetime, I've started a gold mine in China. Big mistake. They took it. Okay, so I understand the Chinese meant that CCP, the Chinese Communist Party. I started a silver mine in Argentina. They took that also because the company, the country was going broke. And I've started an oil company. So I'm, I've done IPOs, I've done all that stuff. So I understand gold, silver, oil. So the reason I didn't invest in Bitcoin, there's millions of deal, I'm, there's deal flow all the time. I just didn't know what it was.
46:21 Speaker 02 But my friend, who's in the Marine Corps with me, I mean, he bought a million Bitcoin. And he was already fricking rich. Now he looks like God. So I kind of saw the light, you know what I mean? But I just have a kind of a personal rule. I don't invest unless I understand it, unless I study it. And you can ask my assistant, I don't even know how to use my cellphone. So this is what I say to all the young people. If you're under fifty, you shouldn't look at Bitcoin because you might be some, some degree of tech savvy. I have none, okay? My career in gold and silver started in nineteen seventy-two.
47:04 Speaker 02 I was flying in Vietnam off a carrier. And I'm looking at this chart, I'm looking at the news. Oh, and my wrist, my wristnut sent me a letter and he says, hey, watch out. Nixon took the dollar off the gold standard. So it's like six months earlier. I said, what does that mean? He says, just watch the price of gold and the world's gonna change. Watch it, watch it, watch it. But that then it took six months for that fricking letter to get to me on this carrier. That's how slow it was. So then my co-pilot and I said, well, let's look for some gold. And so we're looking at the map of Vietnam. I said, okay, there's, there's a, you know, on the map has a pick and a shovel or something. And it says AU, gold, gold mine. Okay, Marines aren't the brightest guys on earth. You know, you don't show us pictures, we don't get too much.
47:50 Speaker 02 So we take off and we go, we're flying along and says, hey, we forgot something. I said, what's that? The NVA overran the gold mine.
48:00 Speaker 02 I said, you mean the gold mines at enemy hands? The guy goes, yeah. So we're flying, looks similar, as if typical Marines. That's okay. Let's go get it anyway. So we flew behind enemy lines to go look at this gold mine. So we land in this village and the Vietnamese are, I'm walking down the road. And we left our guns. We took all our guns off and all this. We parked the helicopter in this rice paddy or this platform. And we walked through the village and we go, hey, how you doing? There's a run arm, you know, we're here, come in peace. We come with dollars, you know, want to buy some gold. So we go up to this gold vendor at the end of the village and we're sitting there looking at gold, you know? And I look at him and he goes, how do you, how do we know if it's gold?
48:45 Speaker 02 He says, I don't know. I thought you knew what gold looked like. I said, no, I thought you did. No, so this typical dumb fucking Marines. We went into an argument because we didn't know what gold looked like. Because up until 1974, it was illegal for Americans to own gold.
49:04 Speaker 02 So all of a sudden, we're sitting in this village, you know, I hear this.
49:09 Speaker 02 So we thought the NBA was gone. We thought we're either POWs or dead, you know, that monkey. We're now behind about five miles behind enemy lines. And we're running through the village. I remember kicking this duck, you know, that I kicked this pet duck or whatever it was. We get back to my helicopter. The helicopter is sinking as I parked it on a rice paddy. I tell you, Marines aren't the brightest. So I had, and my crew chief was this little tiny guy, kind of looked like Woody Allen. He climbs in the pilot seat. My co-pilot and I are in the back on the boom, but that's okay. Hit it. So he starts turning the rotor, you know? And this mud is coming up. It's just pounding us in this face. And we're rocking the damn helicopter, trying to get out of the mud. And finally it gets in a hover.
49:55 Speaker 02 The two pilots jump in, we switch sides and we take off. So I, I said, you stupid son of a bitch. Well, you're your stupid son of a bitch. We're flying all the way back to the carrier. And we land on the carrier and we step off covered in mud. You know, and the guy said, where you guys been? I said, don't ask. That was, that was my, that was my first adventure in gold and I, I became a gold bug. So we, we sail into Hong Kong. I went looking for gold. This is seventy-three. It was still illegal for America, seventy-two. It was still illegal for Americans to own gold. I thought that was really strange. Why is that? You know what I mean? Why is that? And so finally I found a Kruger and his little store. I paid fifty bucks for it. I still have that Kruger and today.
50:39 Speaker 02 It's worth about fifteen hundred today. So, you know, so for young guys like you, it's Bitcoin or it's Ethereum or whatever you guys do. For all guys like me, it's gold and silver. And that's the, that's the biggest difference of all. So I have millions in gold and silver. Kept in another country far, far away.
51:01 Anthony Pompliano? And in terms of when you think about like portfolio construction, et cetera, right? How do you think about the gold, silver and Bitcoin bucket compared to the real estate or some of the other investments that you've had? And, and obviously understanding, right? You and I have a, a, you know, pretty big age gap between us. So you're optimizing for something different than people my age are optimizing for. But at the same time, I think a lot of people are saying, well, how do you think, you know, Robert, uh, as a professional investor who spent his whole life thinking about this? How do you think about that portfolio construction, given the macro environment we're in today?
51:36 Speaker 02 I don't really think that much about it. I think our needs are the same. We, we need to have sound money. And if it's Bitcoin, it's sound. If it's golden, you know, gold and silver are God's money. Bitcoin's people's money, open source. Can't mess with it. But as you know, the powers to be will attempt to mess with it. You know, they'll try and hack you and all this stuff. That's, that's real life. So the reason is I, I do everything. I have good attorneys and accountants, you know. My goal is far, far away outside this country. Because if they try and confiscate it again, I'm gone. So, you know, I just love not to trust my own country. I hate to say that. I fought for my country. I fought for my country twice.
52:20 Speaker 02 You know, I served, I still serve in many ways. But I don't trust them. If you trust them, save the dollar. You know, trust in the stock market. Trust that CEO who's borrowing corporate money. Taking, taking the corporation like GE from AAA to BBB. Buying shares. Boosting their share price. Exiting with stock options. Paying capital gains tax versus ordinary income tax. The average person has no idea what I just said. What I'm saying is that you just got ripped off. They just ripped you off. Then our pensions buy General Electric shares, put it in the pensions.
53:05 Speaker 02 And if they raise interest rates. General Electric goes to junk.
53:11 Speaker 02 It's a whole different worlds out there. But the average person has no idea what I just said. You understand me, but the average guy doesn't, that's it.
53:20 Anthony Pompliano? What you just described too is a very circular problem. Right in the sense of a lot of those stock buybacks were fueled by debt. That debt was issued to the pension funds. And therefore the stock price was propped up by the corporation being the buyer of last resort. Right, they were the major buyer of the stock. And so all of a sudden, the second that you get companies that now are saying, wait a minute. We're not going to do stock buybacks. We're not going to issue the debt. And you get into this weird situation where what happens to the share price? Well, if that buyer of last resort is gone, that's not good. It's probably going to fall. And then you look over at the pension side and you say, well, who's holding all of that corporate debt? That looked really good, you know, two years ago, four years ago. Now all of a sudden, I don't know if you want to hold that. A lot of it is the pensions.
54:05 Anthony Pompliano? And so you almost get people hit twice. Right, they're getting hit in their pensions, but they're also then getting hit with all the stimulus and the quantitative easing, which just puts them in a really, really Really bad situation.
54:15 Speaker 02 Well, it's as you've talked about it is the, you know, the corporate credit market. It's a commercial paper market or the shadow banking market. So the average mom and pop is watching the stock market, but the theft or the cash heist.
54:30 Speaker 02 The gross universal cash lies is taking place in the shadow banking system. And that's where all the bailouts are going. The reason I think is pretty fishy. And I know, I know the coronavirus is real. But you and I knew in September of 2019. That this, that the shadow banking system was bust. People were not showing up to buy them. They weren't, but they weren't showing up to buy commercial papers. You know, we, we floated this, not me, but my friend's company floated AAA real estate. Nobody showed up to pick up the bond. There was nobody buying this stuff. That's why I'm saying Bob Iger of Disney is now parachuting out. Steve Burke of NBC Universal parachuting out.
55:13 Speaker 02 Let me tell you something, there's a reason they're going airborne.
55:18 Anthony Pompliano? Yeah.
55:19 Speaker 02 Well, I think it's funny, but it's sad. It's tragic.
55:22 Anthony Pompliano? Yeah, I, I, I've been explaining to people in June of last year, May and June of last year. I started to write a lot about the warning signs and people literally were writing me saying, you're an idiot. Shut up. What do you know? All this stuff. And the warning signs at first were very easy, right? They were just, hey, stocks are overvalued, you know, severely. Where's all this debt going? We're probably going to have to drop interest rates at some point. The economy is addicted to stimulus, right? I mean, very simple kind of structural things. But as you went through 2019, then it became, wait a minute, what's going on in the repo markets? Why does that seem like every day they're having to float more and more and more liquidity into the market to make sure that it doesn't seize up?
56:04 Anthony Pompliano? Why are our CEO departures at all time highs, right? Why, why is Warren Buffett have 12, $120 billion sitting on his balance sheet? Right? I mean, you just could see all of these little data points that suggested, nobody knows when it happens, but we're close. Right? And then all of a sudden you get an accelerant like the coronavirus where to me, I still, it blows my mind that people are talking about an economic recovery when they're doing it from their home. Right? They're mandated by the government to be locked in their home. And they're talking about, oh, we're going to have a quick recovery from this. It's just, it just seems delusional.
56:38 Speaker 02 It's martial law. The freedom of assembly, the right to assemble, they just took that away from us. Just like being PC is a freedom of speech. You know what I mean? It's they're taking away one by one. And again, let me pop my friend's book here, Road to Ruin. He talks about, he says, that's the fascist state. They're going to tell you what to do. So if you don't wear that mask, you will be fine. If you don't have social distance, then you'll be fine. I go get a haircut, you will be fine. But they're bankrupting the whole frickin' world right now. This is worldwide. For what reason? And again, that's why I read this book here in eighty-three, Grudge of Giants.
57:21 Speaker 02 They can take over our lives via the money. And that's what Griffin was saying here in The Creature from Jekyll Island. The name of the game is bailout, is to bail out the Federal Reserve Bank. That's why back in the eighties, you know, there was Silverado Savings and Loan bailed out fifteen billion or something like that. Who ran it? Bush. The same people, you know, Neil Bush of George Bush fame. Those guys are some of the biggest elites, as as Rickards would call them, they're the elites. And they think they're better than us because they went to the best schools and all this. And but.
58:00 Anthony Pompliano? Part of, yeah, and part of this, I think, too, that especially in the Western world, right? We get caught up in what's the Federal Reserve doing or what's the United States doing? But this is happening all around the world. Central banks around the world are injecting liquidity through monetary stimulus. And I think part of what gets me excited from the Bitcoin standpoint is something like Bitcoin is twenty-four seven and global. So if you're in everywhere from India to an African country to Australia, Asia, wherever. If your central bank is devaluing their currency, you either want dollars or you want something like Bitcoin. Once you realize what your central bank's doing is the same thing with the US central bank is doing. Then you want the gold, silver, Bitcoin, et cetera of the world.
58:41 Anthony Pompliano? And I think that you should end up seeing incredible, you know, capital flows to those assets as more and more people wake up to what's happening.
58:49 Speaker 02 Well, I think so that the biggest thing is that I don't trust my government. And what do you do if you don't trust your government? You can turn into what Dazian Talab calls fragile. And these kids coming out of school, they're so fragile, I can't believe them. I mean, I say something, I hurt their feelings, you know, I'm a trigger event. It's the only trigger event I know was was on my rifle.
59:16 Speaker 02 So I have an attitude problem. You know what I mean? I just, I just can't take it. You know, if I hurt your feelings, oh my God. You know, what's the real world doing to you? Another thing too is what the hell's wrong with us? What the hell, what has happened to our spirit? And that's what this book is saying, is to break the American spirit. They had to make us poor and weak. And then socialism, which is AOC and Elizabeth Warren and Bernie come in. And then communism can take it. You can see it right now. Boeing is going to have to give up its self sell some of that to the Federal Reserve Bank. You can see it. It's centralized government.
59:59 Anthony Pompliano? How long, how long does it take for this to play out? Right, so we go from capitalism to socialism to communism. Is that a 10 year exercise? Is that 50 years? What do you think?
1:00:10 Speaker 02 It's here today. That's why I'm saying the best book was Anne Ran in the 50s. The capitalists go into hiding. So it's no different than my crew and I trapped in, you know, in my flight of three. The gunships take off. We were tight. You know, you know what I'm talking about? There is no better feeling than walking into combat with people, with men and women now, with you guys, we had women, but men and women, you trusted with all your heart and soul. People that give their lives for you. That's what my best friend said to me, you know, he says, I'm alive today because dead men kept fighting. You know, he says, I saw guys who were just shot the shit and they just kept fighting so he could escape.
1:00:53 Speaker 02 And I come back to the States and I got spit on at Norton Air Force Base.
1:00:58 Speaker 02 And today, most of those guys that were spitting on me became college professors or Democrats. It's a free country and you can do what you want to do. I'm not Republican or Democrat. Trump is my friend. But it's a freedom of choice. I'd rather be just liberal. I'm not in between there. I'm libertarian or whatever you want to call it. I just don't really want to get involved in it. So I just want to go into hiding with my friends tonight. But with the Rich Dad Advisor books, you know, on taxes, real estate and all this, educate yourself. School teachers are lying to us.
1:01:33 Anthony Pompliano? Listen, you've been more right than wrong. And on that one, I don't think you're wrong at all because at the end of the day, the system, I say it over and over to people, the system is dependent on the majority of the population not understanding how money works. Which is super, super frustrating, but that is the model.
1:01:51 Speaker 02 Yep, yep, yep, yep. And, you know, this is a free country. You want to be a socialist, communist, atheist, knock yourself out, but don't impose it upon me. That's all I'm asking. You know, if I want to hang out with my friends who are rich, good. And people say the love of money is the root of all evil. That's not true. It's what do you do for your money that's evil? You know, if you're selling drugs, that's evil. But if you're the Fed and you're ripping people off, that's evil too. If you're a school system and you're putting kids, billions of dollars in student loan, 1.7 trillion dollars in student loan debt, every school teacher is complicit. You know, you're, you're, you're part of the problem.
1:02:35 Speaker 02 But I don't see it that way. And all those guys stealing the pensions, you're part of the problem. You're complicit.
1:02:42 Anthony Pompliano? Here's what a stat that you'll love. Small businesses in America in the stimulus package got $350 billion, right? There's 1.7 trillion dollars of student debt. So almost five times as much student debt as we just gave to small businesses when after the government mandated they shut down. It just makes, the numbers are stupid, right? I said to somebody the other day, when you start talking in trillions, you have You can't even write the number. Most people couldn't write a trillion if you asked them to write it down on a piece of paper. It's just such a big number.
1:03:16 Speaker 02 But you know, I am older than you. So I've seen it coming for a lot longer. Like I said, it started in Vietnam. When I'm standing in front of this gold vendor's window behind enemy lines, and I don't even know what gold is. You know, like I said, Marines aren't the brightest guys on earth, but we learn quickly. So I came back and I said, I don't trust my government. You know, I don't trust them. They lied to us. You know, this guy McNamara, who was Secretary of Defense, he became chairman of the World Bank after that. Oh, that's surprising. Oh, my God, that's this book here, Grudge.
1:03:53 Speaker 02 Yeah. We were fighting for the military industrial complex. And today, one of the reasons there's vaccines coming out is big pharma gets rich off of it. So they're going to make it mandatory that we take this coronavirus, which means they get very rich. And if you don't take the virus, if you don't take the vaccine, you don't catch your driver's license.
1:04:14 Anthony Pompliano? Yeah, I, I, um, I've realized the more and more, right? So I spent six and a half years in the army and met all kinds of great people and obviously had the pleasure of going overseas with a couple of them, et cetera. And as I've come back, what I have realized is people that were in the military had a crash course in geopolitics. So they got to see how other people live in the world. They got to see the good and the bad, right? And when you're walking through a country that has suffered from socialism or communism and you understand, how did they get to this point? How did they devolve to where they are when I'm walking through it right now? And you realize a lot of those things are happening right now in the United States.
1:04:55 Anthony Pompliano? And I think that's the, that's where people have to say, I don't understand this. Let me go educate myself. Because a lot of those veterans have spent time in the countries that we, you know, it's easy to write off Venezuela or Zimbabwe. Because we say, well, that's a third world country. It's the same thing. There's no difference between what happened there and what's starting to happen here. It's just happened. It just happens that we're better at marketing to some degree.
1:05:20 Speaker 02 Just remember, I love this book, The Creature.
1:05:24 Speaker 02 We had to bust the American spirit. And the way you bust the American spirit is get them so poor, they'll take the stimulus check. Now, I put in my tweet, I'm taking it too. But I'm going to reinvest it. I'm not going to spend it. And I mean, I'll get richer. You know what? What the heck? I have other friends say, would you take that check? I go, of course. They go, I'm not. I said, well, give me yours.
1:05:52 Speaker 02 I don't know. People get so righteous about this stuff. I go, look. It's not money that's corrupt. It's what you do for money that may be corrupt. If you're sitting in a job you hate, that's corruption. That's anti-spiritual. That's fragile. Do you know what I mean?
1:06:06 Anthony Pompliano? I, I, I've got a number of friends. I don't know where this started, but one of the, one of the things that they love to say to each other is it's your duty to get rich. Because rich means that you solve your financial problems. You could provide safety and protection for those you love. Right? And if you look at it from that standpoint, the only way to actually be successful when it comes to money and financial markets is to be educated. And I think that's kind of, you know, something you spent the last 25 plus years doing. And hopefully more people start listening.
1:06:36 Speaker 02 It's not in school. That's the problem. And the newest thing about health, wealth and happiness, the saddest thing is this. Is my healthcare cost a fortune? You know why? Because insurance won't cover it.
1:06:50 Speaker 02 So I go to my private healthcare provider or doctor. I get the best healthcare in the world. You know, some of the stuff they put in me is like 5,000 a pop. And insurance will uncover it, but you look at Big Pharma, you know, they're pumping out vaccines. Why do they pump out vaccines? Because they're cheap and you don't have to test them. And you can mandate the government to pump them into us. And I suspect that's what they're going to do with coronavirus, you know, two or three years from now, they're going to say, everybody must take a shot of coronavirus vaccine. That's Big Pharma getting rich. They look at the food industry, they're pumping us full of fructose and all that other sugars and all this stuff. You know, little cherries, Cheerios and Cocoa Puffs and all this stuff.
1:07:34 Speaker 02 They're killing us and they're making fortunes. Then the CEOs rip us off. Oh my God, I mean, what else? You know, oh my God, what are we doing?
1:07:46 Speaker 02 So that's why I keep saying the best teachers are on YouTube, you know, go listen to them. Even if you disagree with them, listen to what they say. That's all I'm saying. Open your mind up. You know, because if you're standing in front of a mirror right now and you're afraid of not having enough money and you're thinking about taking that check, you did something wrong. You got, you know, the problems between your ears.
1:08:09 Anthony Pompliano? I love it.
1:08:10 Speaker 02 In your soul.
1:08:12 Anthony Pompliano? You're, you're, you're on top of it, my friend. Where, where can, where can people go find the book, the board game? And everything that you've, that you've got available for them to get educated?
1:08:22 Speaker 02 Well, the good news is, you know, Rich Dad's been doing this for 25 years, so I'm making fortunes. The bad news is we're sold out. So. I mean, it's, it's a good problem, but we have, you know, our whole purpose was this, was power to the people. The same as Bitcoin, it's, you know, people's money. The cash flow board game was designed for people to teach people and bypass the system.
1:08:50 Speaker 02 And then we've had thousands and thousands and thousands of these cash flow clubs in different languages, people teaching people. So when they said, what made you shift to Bitcoin is we have the same philosophy. Open source, people's money. People's education, people teaching people bypassing a corrupt education system that is ripping off the kids at this moment. No financial education and then student loan debt. So you know what? The kids with the least money from the poorest family come out even poorer from school. And my friends who have, you know, they're rich, their kids come out ahead of, they don't have student loan debt. They're way ahead of the game. So we screw the poor and the innocent.
1:09:35 Speaker 02 That's why you and I are on the same team. We are on the same team. You know, so that's what we have to do, but we're going to bypass, we have to operate outside that system, not and not be traitors. I obey the law and the best accounts and attorneys and all this stuff, you know, and I pay as little taxes possible legally.
1:09:56 Speaker 02 But if you're an employee, you pay the highest taxes. What's wrong with that picture? My, you know, Buffett says that my secretary pays the highest percentage of taxes than I do. So your secretary has got a problem.
1:10:09 Anthony Pompliano? Yeah.
1:10:10 Speaker 02 It's not, no education.
1:10:12 Anthony Pompliano? Yeah, it's a pretty crazy world that we're living in. All right. Listen, I appreciate you taking the time to do this. As I said, I am a huge fan for, for many, many years now. And I know a lot of people, they got excited when they saw you start tweeting a little bit about Bitcoin. And obviously you've been at the, the tip of the spear when it comes to financial education. Cause I think you somehow, one single Marine has replaced all of the, the issues in the legacy education system and you've done a great job. So from all of us, just thank you for doing it. And we'll have to do this again in the future when, when we get on the other side of this.
1:10:48 Speaker 02 Yeah, thank you. You're not bad for an army guy. No, I hate, let me put this one thing. I flew for the army more than the Marine Corps.
1:10:56 Anthony Pompliano? Well, I, I wasn't going to tell you this on tape, but I'll tell you, when I was in Iraq, one time, one time, one single time, a Marine unit called for help and we showed up and I, I've never forgotten that. And I always give every, every Marine I know a hard time. I say, hey, listen, don't, don't tell me anything about the Marines until you go find those guys who were calling us for help when they needed help.
1:11:18 Speaker 02 It's a band of brothers. It's spiritual. What people don't realize is how spiritual it is. Now, the first word, the first word at the academy is mission. And our, our mission is to also serve. That's our job. And we're just serving right now. So thank you for your service.
1:11:34 Anthony Pompliano? Absolutely. All right, Robert. I appreciate it very much. We'll, we'll talk soon.
1:11:37 Speaker 02 Thank you.
1:11:40 Anthony Pompliano? Hey, everyone. Pop here. If you liked this episode of Off the Chain and want to help us take crypto to the top of the apple, Spotify and other podcast charts, please do us a favor and rate, review and subscribe. To review, simply go to the Off the Chain homepage, scroll down until you see the five blank stars. Taking 15 seconds to fill those stars in and leave a quick review goes a long way in helping us take the entire crypto ecosystem to the top of the charts. I appreciate you listening and see you next time on Off the Chain.
Previous #262: Tim Kennedy on Individual Freedom and Responsibility During The Crisis Next #264: Dan Primack on How Covid-19 will Impact the Early-Stage Investment Climate Page updated October 29, 2026 · transcript and summary are machine-generated
