The Pandemic and the Return of Inflation - Robert Kiyosaki and Lyn Alden

The Pandemic and the Return of Inflation - Robert Kiyosaki and Lyn Alden

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(upbeat music) - [Announcer] This is the Rich Dad Radio show. The good news and bad news about money. Here's Robert Kiyosaki. - Hello. Hello.Hello, Robert Kiyosaki,

the Rich Dad Radio show the good news and bad news about money. Today we have a very special guest. Somebody, you know, my friend, George Gammon recommended but he didn't have to recommend.

I just found out that George and Lyn Alden worked together. They co-op on things like this. So it's very, it's outstanding.

I've been following Lyn for I don't know how long now but man, she's smart. I mean it is, it's amazing. So George and I were laughing the other night cause George didn't do well in school and I flunked out twice. My sophomore year of my senior year cause I can't write. And it wasn't that I couldn't write, the teacher didn't like what I was writing. You know, how dare you criticize the teacher? I said the teacher was an idiot.

So she just came in and (indistinct) for some reason. But I went to my high school reunion, you know dark and the dark ages and I took my wife, Kim. And I walked up to this woman named Sylvia, she was a, and I went up to Sylvia and I said, Hey Kim, this is Sylvia. This is the girl I sat through all the way through high school.

And I said, without Sylvia, I would never I would have flunked out completely. And Sylvia says, "he didn't sit next to me during school. He sat next to me during test time." (Robert laughs) And he says, the other time I jumped out the window went surfing. So there reason I was laughing with George Gammon, I said, you know, Lyn Alden, if I was in school with Lyn Alden I'd be sitting next to her at test time.

Anyway, so that's, that's why I've enjoyed the, you know the Rich Dad company. We're really blessed because we have very smart women. The men are duds, but the women are really really smart. So anyway, Lyn, with that said, welcome to the program and I'm glad George encouraged you to come on our program. - Hey, thanks for having me. Yeah. I've enjoyed working with George over the past a year

as part of his, you know his membership program. And so, you know, it's been led to a lot of good conversations. - Yeah. I mean, while you're,

you remind me of, I'm reading a book again with Jim Rickards and the the two, you and Rickards have the same type of, I call you guys fire hoses. I don't know how you're, I don't know how you guys can come up with so much information so fast. You know, I've kind of Joe Biden enough to think for a while, a couple of years. So, Lyn, please give us, and I understand you're an engineer, but how in the world is you get so smart on the macro economic system running the world. I mean, that's what blows me away. That's why I listened to you because you cannot deliver what you know in an hour, it's impossible. Right?

- I guess, I guess two things. One is, you know, if you're passionate about something then you're more incentivized to dig into it. Right? So if you're only superficially interested in it, you're more willing to accept like surface answers or not take the effort to go in.

But if something's kind of inherently exciting to you, you're more likely to go in it. So for example, I'm terrible with music. Every time I try to learn an instrument, I just I can't get the momentum up and I, you know I'm like I'm slow, but when it comes to, you know, how the world of finance works, for whatever reason that just clicks with me, so I go deep into the rabbit hole. And, you know because I come from an engineering background rather than an economics background, I like to go down to first principles, down to the numbers themselves and then try to reconstruct what's happening rather than kind of taking, you know existing models as kind of my core foundation.

- So what kind of engineering were you in? - Electrical. - Holy mackerel. No wonder you're so smart. No, I mean, you know, electrical guys are the smartest of all the engineers, you know, and no, I'm not kidding cause anyway, I just, I said complementary but I think that's why I think you think in networks if you know what I mean.

See what when I listened to Lyn's speaking, talking about macro economics she says it's big network. And in fact, I think you think in quantum physics. In other word- - I focus a lot on control systems.

Yeah. So part of my background was building control systems. And so the way they control systems work if you think of a thermometer, right? So every time it sends if the temperature goes too high, it kicks in a reaction response and then it cools the air. And every time it goes too cool, it kicks in the opposite response and it heats it up. And that's how a lot of macro economic systems work. Whenever there is something happening, often policy makers end up putting themselves in the position of the thermometer.

So they come in, you know, if deflation is happening they come in with an inflationary response and all these different kinds of feedback loops. And so the background and control systems kind of goes well with that. - So if I could explain why is Newtonian versus, I mean, it's quantum versus Newtonian.

Newtonian, Newton's physics was action and reaction. And quantum physics was the the, the bigger picture. What happened if you, if you had this reaction to that reaction, what was the temperature? What happened outside of it? So that's why every time I listened to you, I'm thinking about this when quantum physics versus Newtonian physics talk cause I'm pretty Newtonian. Down left, right, that's about it. At that time I listened to you.

I got the, well, this happened or this happened. It's not going to (indistinct) I kind of hang on with, like I'm going down a roller coaster and up a roller coaster because I gotta hang on for dear life. But, but anyway, the question that, you know the Rich Dad audience is like me, pretty slow and stupid, not really we're not, you know, we don't, you know, I want to keep it simple that's what I'm trying to say. So there's some, you know I noticed when you're speaking as same as George, is something driving you guys? And there's that drive like, you know, I don't I don't know how much longer this financial system can last. And so that's why if we could start from that point, let's start with the end and what you see.

What is your crystal ball say? And then you can fill on that? Because I think there's something driving, something's driving me too and I see they hadn't, I see they hadn't coming. - Yeah. So my long-term outlook is to eventually see a higher rate of inflation with, you know a degree of currency devaluation.

So basically the money supply would grow very substantially and the individual buying power of those currency units would go down pretty significantly compared to, you know, variety of hard assets. And so that's kind of the long-term outlook. And so a lot of the work I do is, you know the probability of getting there and kind of the path dependency, the different kind of decision points that can lead to get there faster or slower than other potential paths. - But you also, one of your programs, you talked about a book called, "The History Of The World" or something. - Lessons of History. Yeah. It was,

is lessons of history. Yeah. - So, I ordered that book because you recommended. I haven't got it yet. But what I'm really trying to say to people. The reason once I understood in 1971 when Nixon took the dollar off the gold standard at that time I was flying in Vietnam and I knew something was gonna change.

And that's where quantum comes in versus Newtonian. I wanted to know what the quantum would be, what would be the like, the ripple effect or what the global effect be. So, and the other reasons because I studied history, Lenin said, years and years ago, before Stalin, the best way to kill capitalism is to debauch the currency. So in 71, when Nixon took the dollar off the gold standard I went to military school. So I studied military economics.

And military economics was very concerned about guys like Lenin, Sterlin, Hitler and Mussolini Mao. And that's who we studied. And then socialist economics is Keynesian, which is you can print as much money as you like. And then capitalist economics (indistinct) taught was Mesa Austrian school, hard money which is why bitcoin and gold and silver kind of fit in. So when you look at the end is, I think the end is coming. Historically, like we had the Weimar Republic which was, which brought Hitler to power.

(indistinct). Are you familiar with that? I'm sure you are. What happened? Tell them what happened in the Weimar Republic which brought Hitler to power.

Wasn't exactly what you said. The currency was gone. Inflation went up. - Yeah. When we back then.

So after World War One, of course Germany's production base was destroyed. And whenever you have a country with destruction productive based kind of damaged plus they had external war reparations. So they had debts that they couldn't print away. It wasn't denominated in their own currency.

And so they eventually experienced a hyperinflation as they basically printed money to finance deficits. And just because, you know, after losing the war after having all this, you know, very challenging political and financial situation, more and more kind of populism and extremism buildup and it took a really dark path. - But the thing that's where hyperinflation set in and the other other word you said in there was reparations. And my concern is I'm not trying to be racist here but when the blacks Americans are trying to get reparations for slavery, that's what happened in 1918 with the Treaty of Versailles was they forced the German people to pay reparations to England and France and that led to hyperinflation and then the rise of Hitler. So that's kind of, you know, as an old guy and then went to military school again, that's what we studied.

So the reason I was excited about you coming on the program, is you're a lot younger but you also understand history. And that's kind of what happened in 71 when Nixon took the dollar off the gold standard they could print as much as they liked as the same thing that happened after 1918 the Treaty of Versailles, they couldn't pay their bills. So the Weimar Republic just printed as much money as possible. And that's where the funny story comes in. A woman goes to the supermarket with a, with a wheelbarrow full of cash, (indistinct) mark. And she goes inside to pay for her pork chop, as she comes out and they stole her wheelbarrow and left the cash.

So Lyn, that always sits in my head. So when Sara booked this program with you I wanted to get your picture of a pork chops and bill barrels, man, what's going to happen? - So my long-term base case for the United States is for a higher inflation, but not necessarily hyperinflation. And because whenever we see cases of hyperinflation, like Weimer, like some emerging markets generally you need a combination of a couple of things. One is you needed a destruction of your productive base.

And so that happened to the Weimar Republic, that happened in Zimbabwe and that could be that, that could be due to a loss war or it can be due to a really bad internal social policies. - Is that what's happening in Venazuela today? - Yes, exactly. That's another case of hyperinflation happening. And so you have that kind of severe drawdown in the productive base. So they can't make enough goods and services to satisfy their needs. So regardless of how much money they print the prices start going up rapidly.

The second thing that helps contribute to hyperinflation is when they owe debt in a currency they can't print. So a lot of emerging markets today, like Argentina for example, they owe debt that's denominated in dollars. Whereas developed countries like, you know, Japan, the United States their debts are mostly denominated in their own currencies. And so those hyperinflationary events tend to have those couple of recipes. But for example, you often refer to the 1971 period and that was a case of rapid inflation for United States.

But it didn't reach the levels of hyperinflation because we still had our productive base. You know, we didn't have a collapse in our economy we just had a really sharp devaluation of currency. And so it was something that the currency wasn't completely obliterated it was just severely damaged. And that's kind of the, the outcome is my base case. I think going forward over the next decade is that you could see it in developed countries pretty significant currency devaluation.

- So that's my question here, what's your crystal ball say between 2020 and 2030? Okay, you know like, I make fun of Biden and I call his cabinet the monsters. I've got to entertain myself because I flunked out of school. You know, I was watching TV too much. And, you know, I, and I say when Janet Yellen was head of the treasury ahead of the Fed, and if they, cause we don't know if they're made again, at the time, at the time of this broadcast, we don't know they've made it yet. And if Janet Yellen becomes head of the treasury, that's separate, you know the separation between the Fed and the government are gone. They're one now.

And so that's the reason I was excited about having you come on the program is given your, or what I call quantum under quantum physics thinking, what's gonna happen with a monster takes over? - So I think this process is probably gonna take several years to play out. And so it's gonna start, I think in the next, you know, handful of years. And it's one of those things where at first, when you get some degree of, you know, they call it reflation like you start from like a low period of inflation, you get to that kind of higher inflation. At first it can feel good to a lot of people. And so, for example, that's what it felt like this year. You know, when seamless checks go out and when you have that kind of rebounds.

And so next year if you get a decline in the dollar versus other currencies, if you get inflation that goes up to, you know, the official way they measure it, which, you know that's a whole another discussion but if that goes up to two, 3%, you know, in the next you know, maybe two years, that can feel good at first. And then what the problem is, you know, at that point they're very likely to overshoot because you know, a lot of their deficits at this point are structural, right? So even just taking out discretionary spending if you just focus on entitlements and military and interest on the debt, that already is pretty much all, you know, incoming tax receipts. And so- - So Lyn, we crushed the economy. It's exactly, as you said, what happened in Germany, was it crushed production? And that's why when I asked Sara to invite you on this program, I want to know what your crystal ball says. We've done everything exactly. as the Weimar Republic did with the economy

and it was at the play pepper pay reparations, economy was crushed production went up, simply happened in Zimbabwe same thing in Venezuela. So I want to know what Lyn Alden's crystal ball says 2020 on. Wait, wait. So when we come back that's, I'm prompting you right now because anyway, that's why I was sat next to the smartest girl during test time.

This is a test time right now. We'll be right back. Welcome back. Robert Kiyosaki, the Rich Dad radio show, the good news and bad news about money.

Also listen the Rich Dad radio program, anytime anywhere on iTunes, Android, or YouTube as long as they don't take us off again. But anyway, you can listen the, to our programs. We record all of our programs and we archive them We archive them because we don't make any recommendations. We're a pure education company.

So one of the ways you learn best is by repetition. So you can listen to this program again, then you'll learn twice as much but also you've got fans, family, and business associates listen to this program together and discuss it and your information education your mind will open up quantumly. Our guest today is a very special person, is Lyn Alden, she is associate and partner with George Gammon, another big, you know friend of the Rich Dad company.

And like I said, I was went through, I went through high school, sitting next to the smartest girl in class at test time and Lyn's definitely that smartest girl. I went to an all male school. So I couldn't sit next to the smartest girl because there wasn't one, but somehow I made it through. And the reason military school is important is because we studied economics and there's three kinds of economics. There's military economics, socialist economics and capitalist economics. And when I went in, so 1971 when I'd already graduated from school.

I'm flying in Vietnam and Nixon took the dollar off the gold standard. And so that's when it twigged me because I had different types of education, different economics from what they teach regular kids. So our economics in school and business schools today in the US are socialists Keynesian. You can print money.

That's not what he said, but that's what the interpreted. So we have Lyn Alden and she is, like I said that she's an E electrical engineer the smartest of all engineers, she thinks differently. And so when she looks at the current economic system and she studies history I want to know, how is history going to repeat? That's my question. Are we just like Hitler, what about Hitler to power 1933 or what's going to happen in America, Zimbabwe. And I was in Zimbabwe when it came down and today we have Venezuela. And so is the United States repeating, is history repeating right now.

So with that Lyn, take it away. - Yeah. So you talked a lot about destruction of productive capacity, like when you're talking about what happened here in United States as well. And so I think- - (indistinct) economy. - Exactly, and I think one of the key things to watch is the destruction in production of commodities. And so, you know, if you look at a lot of commodity prices, exception of gold and silver that have done really well recently, a lot of them are rough for the same price.

They were 10 or 15 years ago. And that's because we had this period of commodity over supply. So for example, a lot of cheap money allowed us to, to apply new technologies to get more oil and gas out of the ground. We had that period of kind of copper over supply and so a lot of those things were in a period of oversupply that feels really abundant. However, you know, because prices have been in that kind of, you know, they haven't been rising in many cases for several years, you know that that incentive to get new production has diminished. And so for example, this year, we saw a very large reduction in capital expenditures for new oil and gas fields.

We also, for several years have been seeing really weak copper development. And of course, copper is a really important element for the whole new economy for you know, grids, you know, electrical grids, infrastructure all these important things, both in United States and the world. And so, because we've had this period of commodity over supply, some of the inflationary policy has not been very apparent in everyday life. You know, some areas that has, we've had a lot of inflation and healthcare expenditures. We've had a lot of inflation, intuition childcare service services but because commodities have remained relatively cheap that hasn't really flowed out yet.

Now, I think a key thing to watch is that going forward, some of the supply for these commodities is getting pretty tight. And when that goes up against very large deficits that are in large part being monetized you can start to see a general rise in commodity prices. And, you know, it's hard it's hard to say that's gonna be next year or three years from now, but as we go deeper into 2020s I do think that's a really look thing to consider, and that can promote a much more inflationary trend and like are problems getting the commodities we need. - So copper just made this big move because it's starting to move right now because of the dollar index is going down. - Yeah.

- It's kind of interesting. The dollar index going down. What does that mean to you? - So that what that means is that the dollar's weakening versus a basket of other major currencies like the Euro, the yen, and some of those other ones. And so we we've been in the last several years a period where the dollar has been relatively strong versus those other currencies.

And I expect the next several years to see the dollar likely to have another down leg, similar to how it had in the early two thousands and similar to how it had in the, in the 1980s, the late 1980s. So when it comes down from those strong peaks, that tends to, you know, be pretty bullish for commodities. And, you know, it also tends to be pretty good for some foreign equities as well. If, if you're, you know, if you're if you're a dollar base investor, you can you can potentially counter that by having some foreign equity exposure as well as commodity exposure - And for the average person like me or the dollar going down about purchasing power going down and commodities like copper going up.

Is that inflationary? - Yes. Yeah. - So my question to you is how long can we keep, like you said it earlier with the crush production, that's what caused, you know Germany in World War One to die. And that's what, that's what happened in Zimbabwe.

They took, they wiped out the white farmers. I was there, it was horrifying. You know, they were murdering all the white farmers and now I was not in Venezuela, but I was in Columbia where George was watching the Exodus out of Venezuela.

And so if they've crushed the economy with this COVID shutdown right now, I mean how many little guys are going out of business? You know, I mean, it's sad. So my question to you with your crystal ball cause I know something is, something's driving you. How long can we keep printing money to solve our problems which are structural? - I think as you get deeper and deeper into this decade, so, you know call it five years or so, especially cause you know you have to figure out how much they're going to print, when are these commodities shortage is going to become acute. But I think as we get roughly to the middle of this decade I think that's where we start to run into some of these key shortages and things that have felt very abundant for the past, you know, five, 10, 15 years.

I think, you know, we're, we're going to find ourselves in that period again, where we didn't invest enough in some of the production of some of these things. And as you point out, you know, we had a very big destruction of small businesses this year. So for example, something like 100,000 restaurants have gone out of business while larger corporations because they have capital financing in some cases they have bailouts, they had the fed buying their bonds. They've been able to stay in business to a better extent than some of these small businesses.

And so I think that that a lot of these forces are gonna kind of come to a head probably as we get roughly in the middle of this decade would be my best guess. - But yeah, you know, a lot of it was, you look at Neiman Marcus, they had declared bankruptcy. You know what I mean? When Neiman goes bankrupt, there's something really sick inside America. But the other question I have for you cause you're a more macro also, when you look at China, it appears to me where I kind of a currency war with them, a trade war with them because when we lost our production, because our, we shipped our production overseas to China.

So that's another reason where in precarious position in 2020. So what do you see is gonna happen in China with the Chinese Yuan and all that? That's my concern. How desperate are they going to get? Because they have to have jobs too, because if they don't have jobs, you have revolt. Do you know what I mean? They're that similar problem we are America's. - Yeah. That's one of the things they're focused on

because they're also, I think really acutely aware of this potential commodity shortage. And so one thing they've done in the past several years instead of reinvesting their dollar surpluses, their trade surpluses into buying US treasuries like they used to do, they even started to reinvest those dollars into commodity projects around the world. So they're financing oil field development, you know in Russia, Eastern Europe, Latin America all throughout kind of Eurasia in general. And so, you know they've called that the belt and road initiative. So they built tons of infrastructure but also commodity development. And so that's so far been been China's attempted answer.

Now, we'll see how that, how well that works but they're clearly trying to make sure they have access to commodities. They're also working on ways to buy those commodities outside of the dollar based system. So for, for several decades only dollars pretty much could buy commodities around the world. So even if France buys oil from Saudi Arabia they pay for it in dollars even though it's neither of their currency.

And so China has been in this world where they've actually surpassed United States in terms of becoming the biggest world's commodity importer. So for most commodities, they import more than the US does but they still pay dollars for most of those. And so one of their projects over the past several years was diversifying the types of currencies that they can buy commodities in. So now they can, they can pay Russia in euros, for example in order to get some of their oil and gas.

And they're also, you know, looking probably to get more and more of the, of their own currency priced. And so I expect to the longterm their currency is probably going to hold up relative to the US dollar fairly well, but you know, they also don't want it to let it get too strong against the dollar because they don't want to lose export competitiveness. And I think that's, you know, you mentioned Jim Rickards, that's something that, that, you know he's emphasized the idea of a currency war and that's something we've been in for awhile and I think that's going to persist especially between the United States and the European union because they don't want their currency too strong to the dollar either. And so is this kind of competitive devaluation and the winner of that ends up being hard assets, the things that are inherently scarce whether it's commodities, gold, silver, bitcoin, things that can't be debased. - So that brings up my next question, the Euro, what do you see? Cause you're all, I don't know if you think it's going to hold together but it's kind of a, they tried to be the United States but they all hate each other.

They hated each and every, every war. And how are they doing? How's it you're in a whole town? - So from a, from a like say a three-year perspective, I think that the Euro could strengthen relative to the dollar. The biggest long-term problem they have is that, you know they have basically a monetary union between their countries, but not a fiscal union. So they don't have kind of a unified retirement system. So if Italy racks up debt, they, you know we talked before about what happens when a country has obligations that they can't print.

And so what all those countries did is they combined into the Euro and neither of those individual countries can print the Euro. Right? So only the, the share of the ECB the shared basket that they've all put their, put their kind of value into. And so, you know, Italy has debt, for example that Italy can't print. And so you have that problem where a lot of those Southern countries have a lot of debt. And, you know, there's a really big question about how that's going to fall out. And I think that's one of the biggest tail risks.

And so, whereas United States and Japan, for example they have this more unified currency system within themselves. Europe has a big kind of a potential fracture point. And so that's why, you know their banks have been trading, you know extremely low valuations because people are afraid of the solvency risk that some of those banks could have if the Euro were to encounter a major problem. And there's going to be some decision points ahead either they're going to have to, you know break apart the union and let some of those countries, you know, go their own way or they might go the opposite approach and unify their fiscal situation more and become more centralized. And it's hard to see how that's going to play out, but you know, that's one of my biggest kind of tail risks what's going, what's going to happen with some of those Southern European countries.

- Correct. But then now that brings up England cause when they went to Brexit what was your opinion of that? - So they're really lucky and I think they had good foresight to not give up their own currency. And so, you know, they were part of the European union but they weren't part of the European monetary you know, shared, you know, currency, the Euro. And so for them, that we've already seen just from several years, how challenging that breakup is, even though they still have their own currency, at least. And that's, you know that's already extraordinary difficult to unwind whereas it'd be much harder, for example for Italy to break up because their currency is full.

You imagine if you had to change your currency by leaving, you know, NATO or something, right? It'd be, it'd be much harder to do. And so I, you know, I think that the Brexit situation that's just a small taste of how hard it would be for some of these other countries to break up. And so hopefully we'll get an answer on Brexit soon. I mean, they're, they're still kind of in the middle of those negotiations, it seemed like they never end, but hopefully that'll be behind us. And then the big question is what's going to happen with Southern Europe.

- And so my last question for you is about our friends in the Latin countries like Mexico and South, you know George Gammon's country that, you know, I mean the Mexican people and all that, they're fabulous, fabulous people. And the whole Latin America I'm just so impressed with them. They're both rich countries.

I mean, you know, I'm another whole nut bolt there, the world is rich because South Africa, Africa is a rich resource country but the people are poor and that's causing this huge split, you know, so what is your forecast for our friends on Mexico and Latin America and South America? - So if we get a weaker dollar and if we get a pretty strong commodity market, that could benefit Latin America pretty significantly because one of the problems that Latin America has is that you know, they're very commodity rich but commodities have struggled over the past 10 to 15 years. And they also, many of them have high dollar denominated debts. That's one of the kind of trouble areas along with Turkey and a few others. But you know, basically countries like Brazil, Chile you know, a lot of these Mexico they have a lot of dollar diamond debts especially relative to their foreign exchange reserves. And so whenever the dollar strengthens that puts a lot of pressure on their local economies, cause it's kind of like their debts are going up relative to their cash flows because their cash flows are denominated in their local currencies.

And so if the opposite happens, if you get a weaker dollar we tend to see emerging market growth periods whenever the dollar weakens because it's kind of like that their debt gets devalued. And so if we see a weaker dollar, I'm pretty optimistic towards, you know, the majority of of Latin American countries, but you know, partial it'll come down to how well they individually govern it or how well I know how dynamic their economies are allowed to kind of flourish outside of, you know, kind of bad policies - Fantastic people. You pops the thing I wanted to, I forgot to ask you on is Turkey. I mean, Turkey is they're having currency problems and all this, but they're also a huge military.

What do you see happening there? - So Turkey yet, their main issue is that they have a high dollar damage debt in their corporate sector. And so their government actually is not very levered. It's specifically a lot of dollar base debts built up in their corporate sector. And so, you know, Turkey has, does have a lot of advantages. They're very well positioned, but you know, they they've had specific issues with that. And they also, they have it build up high foreign exchange reserves, which means that they don't have a lot of dollars kind of stored away like acorns for the winter. Right?

So they haven't built up this reserve. And that's why during the strong dollar period they're encountering this problem. Now, if the dollar weakens, that's kind of like taking the foot off the throat of Turkey and you know if they have some good governance they might be able to come out of that pretty strong.

But so they still have plenty of good. They have good demographics, they've good geopolitical positioning. You know, they have a pretty competitive manufacturing base.

And the biggest problem they have right now is that all of their dollar denominated, corporate debt that they, you know, they can't evaluate it, they can't print it. And they're kind of subject to the whims of how the dollar holds up relative to, you know relative to other things. - That's, I mean, we could go on forever, but there's also, I just bring it up. It's also a thing called the Euro dollar. You know, I mean, this thing is not just, you know Joe Biden getting elected, you know there's more going on than we will ever know about. And that's why this fantastic, you know getting to know you Lyn and thank you.

I'd like to invite you back because like I said. I was sat next to the smartest girl during class and test time especially because I knew nothing most of the time. So anyway, thank you. And then you can go to Lyn's website as And I heard your website is just a treasure trove of information. - Yeah. Plenty of good stuff there.

And also, like I said, I also part of a George Gammon.. So over as well. - Yes, he is fantastic. We're going to have, we're going to have dinner tonight with George.

So anyway, Lyn, thank you very very much. And thank you for your contribution to knowledge to the rest of the world. Thank you. - Thanks for having me. - Thank you.

And so when we come back we'll be on the final wrap up of the Rich Dad radio show. Thank you, Katelyn. Welcome back.

Robert Kiyosaki, the Rich Dad radio show. You can listen to the Rich Dad radio program anytime anywhere on iTunes, Android, or YouTube. And please leave us a comment whenever you listen. All of our programs are

We archive them for the one reason we're an education system school. I mean a program. We don't make recommendations.

You buy anything. Although we talk about what we buy and have your friends family members, and business associates listen to this program and discuss. When you do that, that's real education. You'll learn 10 times more than you just listened to this once.

So before we complete the show on, Sara what did you think? - [Sara] Wow, Lyn is a, like you said treasure trove of information and so smart fire hose. I feel like I could listen to her all day. Like just, I mean, cause she knows her stuff, but the one thing you would ask her was about hyperinflation. Will we see hyperinflation? And she gave us those two key points. Like this is what to watch for. So I think that's like for me, the biggest nugget that I took away from this as we move forward into the next couple years are those key signals of what's gonna happen with our currency.

- Yep. And the other thing that she said, which a lot of people don't know is this belt and one project by China. China realizes that they're gonna beat America. America sends out military forces, and I've been in Zimbabwe and I've seen the compounds the Chinese have built there because when the economy crashed the Chinese moved in and they're taken out the resources.

I was in Panama when I was watching Chinese negotiate to build a bigger prep Panama canal to beat the US panic (indistinct). And I was in Cameroon when I saw them trenching, you know they were trenching fiber optic cable all across Cameroon. They're also thinking I'll be building a road across South America.

And so what China is doing is building infrastructure. And also the other thing that is, gold mine in 1999 was in China and they needed gold. So they took it. So I don't know if Americans know what's going on. It has really nothing to do with Joe Biden or Trump and all this. They can't protect you.

So that's why the, you know, the Rich Dad radio show but also all these characters on YouTube and all that they're far better than going to school. I mean, people like Lyn Alden and George Gammon and you know, PA Anthony PompeLiano, I mean, these guys are geniuses at what they do. So anyway, that's why I thank you for listening to the Rich Dad radio program because your college professor has his head up as what are but whatever it is, they don't know what's going on. They're hanging out in school. So thank you for listening to The Rich Dad Radio program.

2021-01-07 15:41

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