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

New Global Reserve Currency

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

The Rich Dad Company

Entrepreneurship, Business, Investing

4.13.9K Ratings

🗓️ 21 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Watch part 2 of a very important discussion with Andy Schectman of Miles Franklin, and find out what Mexico joining BRICS means for the future of the new global reserve currency.

Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies — Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations — are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.”

Schectman expects a large portion of the world to abandon the U.S. dollar and he also predicts a “tsunami of inflation.” With rising inflation, Schectman suggests that the interest rate set by the U.S. Federal Reserve will continue to rise and a “collapse” in asset prices will soon follow.

Transcript

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0:00.0

Hello, hello, hello, Robert Kiyosaki. This is emergency podcast number two. I hope there's not a number

0:07.3

three, but I tell you, you know, that's saying, may you live in interesting times. I think this

0:13.9

is interesting, spooky and empire changing. I think we're watching the end of the American empire.

0:22.1

And there's a law called Gresham's Law. And Gresham's Law says bad money drives out good money.

0:30.8

So this is bad money here. It's called the US dollar. I call it toilet paper today. And this is

0:37.6

good money here. This is silver and this is gold. So what happened in 64 and 7 71, they took the

0:48.7

gold out of this toilet paper right here. And in 64, they took it out of our silver coins.

0:56.0

So Gresham's Law is an action today. America has been kind of a bully because we had the reserve

1:03.5

currency of the world. So this is emergency podcast number two. This number one, please go to it.

1:09.6

Is burning up the airways right now. I special friend and always at the right time is,

1:16.1

you know, Andy Sheckman and he is adding so much dimension to my thoughts. And I think his wisdom and

1:24.0

his experience and his foresight. It's what's happening in the world is crucial. So this is emergency

1:29.7

podcast number two. The thing we're going to be talking about today is what happens if and when

1:37.0

Mexico joins the bricks. What are the repercussions? What are the shock waves? What's going to happen?

1:45.8

Or I just say in Hispanic Kipasa, what's going to happen? So welcome once again, Andy.

1:51.8

This is number two. Number two, you know, in a couple of days.

1:56.4

Well, it's good to be here, Robert. It's good to be here. Thank you for having me. Yeah,

2:00.0

there's a lot to talk about. I mean, the the the bricks formation is something that I have been

2:06.5

singularly focused on for the last few years, certainly. And I know you wanted me to just briefly

2:12.4

describe what the bricks are to your listeners. And for those that haven't been following this

2:19.7

information, I think it's really very, very, very important. And you know, I'd like to first

2:25.4

throw out that so many things are happening all around us. And while there's significant,

...

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