Why Cash is Trash in 2023

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

🗓️ 1 February 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

In 1971 President Richard Nixon changed the rules of money. That year, the U.S. dollar ceased being money and became a currency. This was one of the most important changes in modern history, but few people understand why. Today’s guests explain why understanding the difference will help our listeners survive 2023.

Jim Clark, CEO of Republic Monetary Exchange says, “It’s a bigger risk having paper money that’s depreciating.” Clark goes on to point out that we are in the 51st year since Nixon took the dollar off the gold standard, and no other fiat currency has survived the past 50 years as a warning of the future of the dollar.

Charles Goyetter, author of the book “Red and Blue and Broke All Over” says, “There’s a rough patch of road ahead. For as bad as it’s going to be, the ones that take action will be so much better off.”
Host Robert Kiyosaki and guests Jim Clark and Charles Goyette discuss the difference between real money and fake money, and why cash is trash in 2023.

Get Republic Monetary Exchange’s free newsletter: https://rmegold.com/gold-market-discussion/

Transcript

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0:00.0	How many subscriptions do you have?
0:02.0	And how many do you really use?
0:04.0	Households right now are spending an average of £422 a year.
0:10.0	With the Lloyds Bank subscriptions manager on our app,
0:13.0	you can block or cancel the ones you no longer need in a few simple taps.
0:18.0	It's one of our many useful tools to help you stay on top of your money.
0:22.0	To find out more, go to Lloydsbank.com forward slash cost of living.
0:27.0	Lloydsbank by your side.
0:57.0	This is gold and silver.
1:01.0	And of course, there's bitcoin.
1:04.0	So those are the three things.
1:06.0	And the reason that the hottest subjects in the earth right now is because our money is fake.
1:11.0	So this is one of my favorite books here, Fake.
1:15.0	A quick story before we get into why gold, silver and bitcoin is that I was at Safeway.
1:22.0	And this, I'm kind of a guru at the solid counter at Safeway.
1:28.0	And all the way we're coming up to me going,
1:31.0	Hey, what should we invest in?
1:33.0	What should we invest in?
1:35.0	And I just have to have in my pocket here, this is a pre-64 US quarter.
1:40.0	And it's given to you by my friend, Daniel Siamielson of Houston, Austin, Texas.
1:45.0	He's American gold exchange in Austin, Texas, Dana, Samielson.
1:51.0	So he knows I'm a silver nut.
	...

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