The Rich Dad Channel | The Future of the Gold Standard and the Collapse of the Dollar - Robert Kiyosaki, Peter Schiff @TheRichDadChannel | Uploaded June 2024 | Updated October 2024, 2 hours ago.
In this compelling episode of the Rich Dad Radio Show, Robert Kiyosaki is joined by renowned economist Peter Schiff for a deep dive into the seismic shifts occurring in the global economy and what they mean for your financial future. Their discussion, packed with historical context and bold predictions, is essential viewing for anyone seeking to understand the potential return to the gold standard and how to navigate the evolving financial landscape.
This episode is a must-watch for anyone concerned about the future of the U.S. dollar and the global economy. Kiyosaki and Schiff provide invaluable insights into the potential return to the gold standard and offer actionable strategies to protect your wealth in uncertain times.
The Impact of August 15, 1971: A Turning Point in Economic History
Robert Kiyosaki reflects on the pivotal moment when President Nixon took the dollar off the gold standard, fundamentally altering the global economy. Kiyosaki shares his personal experience of learning about this change while serving on an aircraft carrier in 1972, a moment that shaped his understanding of economics. Both Kiyosaki and Schiff agree that this decision sparked many of the financial challenges we face today, including wealth disparities and real estate bubbles.
Peter Schiff’s Economic Analysis: The Gold Standard and Beyond
Peter Schiff offers a thorough critique of the U.S. government’s departure from the gold standard, arguing that this shift to fiat currency has led to the current economic instability. He explains how the continuous printing of money, especially since 2008 and during the COVID-19 pandemic, has exacerbated inflation and placed the economy on a precarious path. Schiff’s analysis underscores the risks of a fiat currency system and the potential consequences for the future.
The Future of the Dollar: A Return to Gold?
Schiff presents a grim forecast for the U.S. dollar, warning that if global confidence in the dollar wanes, it could lead to a collapse. He discusses the potential for a return to the gold standard, which, while stabilizing for other currencies, could be catastrophic for the American economy due to the current lack of gold reserves and a weakened manufacturing base.
The Rise of BRICS: A New Global Financial Order?
The conversation also covers the growing influence of BRICS (Brazil, Russia, India, China, and South Africa) and its potential to challenge the dominance of the U.S. dollar. Kiyosaki and Schiff warn that a shift towards a new global currency by BRICS nations could significantly devalue American financial assets, making it even more critical to invest strategically in non-dollar assets.
Immediate Actions for Financial Security
To close, Kiyosaki and Schiff offer practical advice for safeguarding your financial future. They recommend investing in precious metals, securing savings through non-dollar assets, and staying informed about economic trends. They also encourage viewers to participate in free online events hosted by the Rich Dad company to gain further insights and strategies for financial security.
00:00 Introduction
01:35 Historical Context: Nixon and the Gold Standard
04:11 Peter Schiff's Perspective on the Gold Standard
08:53 Impact of COVID-19 on the Economy
10:52 The Role of BRICS and Future Economic Predictions
14:37 Potential Return to the Gold Standard
17:06 Fed Coin and Inflation Concerns
21:44 Final Thoughts and Advice from Peter Schiff
24:10 Conclusion and Farewell
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Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.
“Net returns” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold, and past performance is not indicative of future results. See important Reg A disclosures: Masterworks.com/cd
Masterworks’ offerings are filed with the SEC. View all past and current offerings sec.gov/cgi-bin/browse-edgar?company=masterworks&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany.
-----
Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
In this compelling episode of the Rich Dad Radio Show, Robert Kiyosaki is joined by renowned economist Peter Schiff for a deep dive into the seismic shifts occurring in the global economy and what they mean for your financial future. Their discussion, packed with historical context and bold predictions, is essential viewing for anyone seeking to understand the potential return to the gold standard and how to navigate the evolving financial landscape.
This episode is a must-watch for anyone concerned about the future of the U.S. dollar and the global economy. Kiyosaki and Schiff provide invaluable insights into the potential return to the gold standard and offer actionable strategies to protect your wealth in uncertain times.
The Impact of August 15, 1971: A Turning Point in Economic History
Robert Kiyosaki reflects on the pivotal moment when President Nixon took the dollar off the gold standard, fundamentally altering the global economy. Kiyosaki shares his personal experience of learning about this change while serving on an aircraft carrier in 1972, a moment that shaped his understanding of economics. Both Kiyosaki and Schiff agree that this decision sparked many of the financial challenges we face today, including wealth disparities and real estate bubbles.
Peter Schiff’s Economic Analysis: The Gold Standard and Beyond
Peter Schiff offers a thorough critique of the U.S. government’s departure from the gold standard, arguing that this shift to fiat currency has led to the current economic instability. He explains how the continuous printing of money, especially since 2008 and during the COVID-19 pandemic, has exacerbated inflation and placed the economy on a precarious path. Schiff’s analysis underscores the risks of a fiat currency system and the potential consequences for the future.
The Future of the Dollar: A Return to Gold?
Schiff presents a grim forecast for the U.S. dollar, warning that if global confidence in the dollar wanes, it could lead to a collapse. He discusses the potential for a return to the gold standard, which, while stabilizing for other currencies, could be catastrophic for the American economy due to the current lack of gold reserves and a weakened manufacturing base.
The Rise of BRICS: A New Global Financial Order?
The conversation also covers the growing influence of BRICS (Brazil, Russia, India, China, and South Africa) and its potential to challenge the dominance of the U.S. dollar. Kiyosaki and Schiff warn that a shift towards a new global currency by BRICS nations could significantly devalue American financial assets, making it even more critical to invest strategically in non-dollar assets.
Immediate Actions for Financial Security
To close, Kiyosaki and Schiff offer practical advice for safeguarding your financial future. They recommend investing in precious metals, securing savings through non-dollar assets, and staying informed about economic trends. They also encourage viewers to participate in free online events hosted by the Rich Dad company to gain further insights and strategies for financial security.
00:00 Introduction
01:35 Historical Context: Nixon and the Gold Standard
04:11 Peter Schiff's Perspective on the Gold Standard
08:53 Impact of COVID-19 on the Economy
10:52 The Role of BRICS and Future Economic Predictions
14:37 Potential Return to the Gold Standard
17:06 Fed Coin and Inflation Concerns
21:44 Final Thoughts and Advice from Peter Schiff
24:10 Conclusion and Farewell
-----
Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: https://www.masterworks.art/richdad
Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.
“Net returns” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold, and past performance is not indicative of future results. See important Reg A disclosures: Masterworks.com/cd
Masterworks’ offerings are filed with the SEC. View all past and current offerings sec.gov/cgi-bin/browse-edgar?company=masterworks&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany.
-----
Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
