Gold Reserves on the Decline

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

🗓️ 6 October 2021

⏱️ ? minutes

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Summary

In 1971, President Richard Nixon changed the rules of money because foreign countries being paid in U.S. dollars grew skeptical when the U.S. Treasury was printing more and more money to cover our debts, and they began exchanging their dollars directly for gold in earnest, depleting most of the U.S. gold reserves.
There’s been a significant under-investment in exploration by the world's major gold miners and it has resulted in a decline in minable gold. Today’s guest explains that there has been a 40% decline in gold reserves.
David Garofalo, Chairman & CEO of Gold Royalty Corp. says, “What they didn’t do is replace what they’ve been depleting.” He continues, “Our assets have been depleted and as a result, the production is declining. We can’t respond with supply because it takes a long time to find deposits, it’s capital intensive, and it’s risky.”
Host Robert Kiyosaki and guest David Garofalo discuss what the declining gold reserves mean for the future of gold mining and its price.
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Transcript

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0:00.0	Robert Kiyosaki has always said,
0:01.9	The Rich Don't Work for Money.
0:03.4	And he has proven it for decades.
0:05.2	It's no secret Robert built his fortune in real estate,
0:08.0	and he's started with a single condo he acquired
0:10.4	with none of his own money.
0:11.8	Now, you can start building your financial fortune
0:14.5	in real estate, even if you have no cash, credit, or experience.
0:18.5	That's right, anyone can do it if you know how.
0:21.2	Robert has taught people from every walk of life
0:23.4	to build their financial fortunes in real estate time and time again.
0:26.9	Robert's stated mission has always been
0:28.7	to elevate the financial well-being of humanity.
0:31.4	That's why he's personally hosting a free, one-hour online training seminar
0:35.4	called How to Start Building, Your Financial Future in Real Estate,
0:38.7	where he'll discuss his proven strategies
0:40.5	to acquire real estate no matter what your current financial circumstances are.
0:44.3	Robert's free training seminar will give you the knowledge and confidence
0:47.2	to finally take action and create the kind of life
0:49.3	and financial freedom you deserve.
0:51.2	And when you register now at richdadfree.com-flashstart,
0:54.7	you'll also get a free copy of Robert's wealth-building e-book
	...

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