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

Wealth Preservation: Moving Beyond the Dollar with Gold and Silver

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

🗓️ 14 August 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

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.

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.

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.

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 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.

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.

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Please read carefully.

This is not financial advice.

You may be asking, “what does that mean?”

Let me explain…

Do not just do what I, my team, or my guest says. That would be stupid and irresponsible. Take the education, then use your own brain and make your own decisions.

YOU must take responsibility for your future and your success. That is why you are here. Neither I, or my team, or my guests, know your risk levels, prior education, emotional maturity, or how much money you can afford to lose.

We are only telling you what we believe to be smart moves. But you must decide for yourself. There are NEVER guarantees.

Also understand that we are REAL teachers. We practice what we preach. With that in mind we often invest in the very projects that may be mentioned on this show. While it is never our intent, we could possibly profit from others investing in our recommendations.

Take the education we provide but then determine your own actions. If it does not make sense to you, get more education before you invest. We will continue to provide education and there will always be more opportunities.

Transcript

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0:00.0

Amazing! of August there's up to 50% off the most popular brands of prescription glasses and

0:14.0

sunglasses there's even up to 50% off hearing aids up to 50% off in the optical

0:19.2

center sale don't wait bring the whole family and make the most of it.

0:23.0

Sale offers can't be combined with other current offers.

0:28.0

See in store for T's and C's.

0:30.0

This is the Rich Dad Radio Show, the good news and bad news about money.

0:37.0

Here's Robert Kiosaki.

0:39.0

Hello, Robert Kiosaki, The Rich Dad Radio Show, The Good News news and today bad news about money and you

0:45.1

know people who are such a pessimist well I've been a pessimist for a long time and

0:50.4

it is gonna make us very rich to be pessimist.

0:54.6

This is the cash flow board game.

0:57.2

And when Kim and I designed this game, it was what, 1996?

1:02.4

And we designed this here, and it's called Zilat Race.

1:05.0

And this is what happens when you go to school, get a job,

1:09.0

save your money, get out of debt, and invest in the stock market in a 401k IRA or something like this.

1:15.6

It's about people who want to come out here and not get toasted like a mark from it.

1:20.8

This is the fast track, but sometimes these are called a

1:24.2

accredited and all this. They're more sophisticated, more highly educated

1:27.6

an investor. So Kim and I do not operate in here. We don't have any stocks, mutual funds, or EDFs, but we operate out here.

1:36.6

But that takes financial education. You don't get in schools and you definitely don't get from the

1:42.1

stock market or bond market or Wall Street.

1:45.0

This is my friend Andy Sheckman and he is an incredible person.

...

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