Banks Too Big to Fail

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 21 March 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

The institutions that are deemed “too big to fail” will always be bailed out. In his book, “Conspiracy of the Rich: The 8 New Rules of Money,” Robert Kiyosaki wrote that “bailouts are the name of the game.”

This week, the Fed bailed out two regional banks that collapsed. As depositors of those banks feared money in their accounts was gone, the Fed stepped in to replenish any of the money depositors would have lost - including accounts holding over $250,000.

Janet Yellen, Treasury Secretary, told senators that this guarantee will not be extended to smaller regional banks in the future. Lawmakers are concerned these backstops could become a new norm for big banks, giving “too big to fail” banks an unfair advantage over community lenders.

Transcript

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0:00.0	Hello, hello, hello, it's Robert Kiyosaki.
0:01.8	This is the first emergency podcast or broadcast I have ever done.
0:07.6	Quick history is that I read a book in 1984 called The Grunge of Giants by
0:12.5	Dr. Abuck Mr. Fuller.
0:13.9	I don't recommend it.
0:15.8	All I said was that our wealth is stolen via the banks.
0:20.7	Be very money supply.
0:22.4	And today our emergency broadcast or podcast is with dear friend Andy
0:27.2	Schachmann. He's my source.
0:28.7	He's my credibility.
0:30.4	You know, it's what he's talking about like me.
0:32.2	He studies the whole history of this whole insanity that's going on
0:36.6	today in the banking system.
0:38.6	So I'll give you a little bit of history.
0:40.2	1971 there was a guy named DB Cooper.
0:43.6	And he supposedly jumped out of the back of a 727 in 1971.
0:49.8	And his alias was DB Cooper.
0:52.2	Remember those initials DB Cooper.
0:55.4	Because what it stands for is deception, betrayal, collusion, deception,
1:02.8	betrayal and collusion.
1:04.8	So what's going on today is deception, betrayal and collusion.
1:09.1	There's a book by a friend of mine, Naomi Prince.
	...

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