The Money Podcast The Truth About Banks and the Upcoming Crash with Kim Kiyosaki
Rob talks to entrepreneur and investor Kim Kiyosaki who discusses how women have been historically ignored when it comes to financial education. They also discuss good versus bad debt, the potential banking crisis and why financial education remains absent from schools. Kim also warns about the dangers of central bank digital currencies and advises on building wealth through cash flow and smart investments.
KEY TAKEAWAYS
- Women haven't been encouraged to learn about money like men have. They're often taught to rely on husbands, family, or government for financial support, which can lead to money problems later in life.
- Schools don't teach money skills, possibly because banks benefit when people don't understand finances. The less people know about money, the easier it is to get them into debt.
- Digital currencies controlled by central banks are dangerous to personal freedom. They allow governments to track all purchases, potentially deny loans based on political views and limit how much you can spend.
- A banking crisis is coming as banks struggle with rising interest rates. Big banks may get bailed out while smaller community banks fail, leaving just a few powerful banks in control.
- Not all debt is bad. Kim says bad debt includes personal mortgages and credit cards, while good debt like rental property loans can make you money. Understanding this difference helps build wealth.
- Good investors spot trends, understand numbers, and get creative with financing. Kim suggests looking for unmet needs in your area and never using "I don't have money" as an excuse.
BEST MOMENTS
"Women are really taught to depend upon somebody else for their financial wellbeing, be it a husband, be it a family member, be it the government... they definitely have not been encouraged to learn anything about money."
"They call me the queen of cash flow, I love cash flow, I'm all about cash flow... Get really, really good with numbers because numbers tell a story. I can look at the P and L of a property without ever seeing the property and know what's going on with that property."
"We have a rule. If you're going to buy a liability, you have to buy an asset to pay for the liability."
"Central bank digital currency, CBDC... It's a way to control the population. They will see everything that you're buying... Oh, Kim, you donated money to so and so and we don't like that. So we're not going to give you that loan."
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ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
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