Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
How did America go from the richest country to bankruptcy?
Nov 22, 2023
Financial experts Jim Clark and Charles Goyette join host Robert Kiyosaki to discuss America's financial predicament. They cover topics such as the history of money, the shift from the gold standard to a debt-based dollar, the population's lack of understanding about money's value, and the unsustainable national debt. The episode also explores the Hunt brothers' attempt to corner the silver market, the potential future price of gold, and the importance of investing in low correlation assets like art.
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Quick takeaways
- The decision to take the dollar off the gold standard in 1971, combined with government policies and central bank actions, contributed to America's current heavily indebted state.
- Owning physical precious metals, particularly silver, can serve as a hedge against inflation and economic uncertainty, making it an important asset to consider for investment portfolios.
Deep dives
The Rise and Fall of America's Wealth
This podcast episode discusses how America, once considered the richest country in the world, is now heavily in debt. The hosts examine the factors that led to this unfortunate situation, including the decision to take the dollar off the gold standard in 1971. They highlight the role of the Federal Reserve, central banks, and government policies in devaluing the dollar and contributing to inflation. The guests also share insights on the importance of owning physical gold and silver as protection against economic instability.
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