This is the rich dad radio show,
the good news and bad news about
money. Here's Robert Kiyosaki.
Hello. Hello. Hello. This is Robert
Kiyosaki, the rich dad radio show,
and 10 I have a very exciting
program for you. This goes into the,
we're going to go deeper into a subject
versus being superficial and the two
most important subjects,
I think especially in this area as era
of unlimited Q E where there the fed is
going to buy everything,
including junk bonds,
which violates the constitution of the
fed and the fed and the U S treasury.
Now one, so in my opinion,
the most important investment
today are gold, silver,
and Bitcoin, or the crypto market.
So we're not going to get into those
pissing matches that a lot of people get
into which one's better
and all that stuff.
So I have two guys that are experts in
their field and we're going to drill down
and figure out what is best for you,
but we're not going to be superficial
about it. So as many as you have,
you know, is that I'm always
been bullish on gold and silver.
I own a little Ethereum and something
else. Um, but that's about all I know.
Whereas with gold and silver,
I've started a silver mine and
I've started a gold mine. And, um,
I have no love for the Chinese communist
party of China because when I struck
gold, they took them, they took it
a billion dollar gold mine. So
anyway, I've been through the ringers,
but today we have two
very important guests.
One is Brien Lundeen has
been a friend for years.
And the reason Brien is an, a very
important guest today is because he,
he actually was a friend of
a guy named Jim Blanchard.
And for those of you who are too
young to remember back in 1933,
president Roosevelt made it
illegal for Americans to own gold.
So I write about it in my
book fake. Uh, in 1972,
I was flying in Vietnam and my
rich dad wrote to me and he said,
watch out. Nixon took the
dollar off the gold standard,
the world's gonna change. And I, and um,
I was a college graduate and all this
stuff flying for the Marine Corps.
I didn't even know what gold was because
it was illegal for Americans to own
gold, if you could imagine that.
And so Brien London is actually
friends with Jim Blanchard.
He wasn't going to go into that character
cause he had to go through hell to
make gold legal again.
So in 1973 I bought my first one
out and that was on one ounce.
But I bought a crew,
Qur'an and I had to smuggle it into the
U S as a criminal because in 1973 was
illegal for Americans to
own gold. Imagine that.
And our other guests is Antony,
we call them the pump. You know,
he's a very popular show, huge following.
And he is one of the thought leaders
on the area of cryptocurrency,
especially Bitcoin. But
Anthony also owns gold.
So we're going to go deeper into the
subjects of gold solver and Bitcoin.
Why they're the most important.
I don't call them assets,
I don't call them investments. I
call them insurance plans right now.
And it's insurance against the
incompetence of the fed and the treasury.
They're printing trillions of
dollars. And if you're saving dollars,
you might be in serious trouble. So
gentlemen, welcome to the program.
Uh, Brien and Anthony was just, I
give a one one minute brief overview,
then we'll start drilling down.
So let's start with Brien first.
Give him Brill where you're from and
all this and how you got into gold.
Well, uh, thank you. Thank you
Robert. Great to VOC. Again,
I got into gold because I answered
a ad for a junior copywriter for Jim
Blanchard's coin and bullion company in
1985 and then got to know Jim and I was
kind of a libertarian at heart,
but I never really formalized
that idea and everything else,
but met Jim and just became fast
friends with him. I was, you know,
at the bottom of the totem
pole and Jim was at the top,
but we became very good
friends and learned more about
the sector over the years
and, uh, in what it represents, uh,
and have been writing about gold,
uh, have been writing ever since.
I say, where do you live right now?
Uh, I live right outside of
new Orleans, Louisiana. Uh,
that's where Jim Blanchard was
located back in the old days.
And of course he started what became
the new Orleans investment conference.
We still do that. And,
uh, so I live in memory,
just a Stone's throw
outside of new Orleans.
NOLA. Okay. Thank you. And Anthony,
a little bit about your background and
how you came across into this world
for sure. Um, Anthony
Pompliano. Uh, I ended up, uh,
did a whole bunch of stuff, was in
the military for awhile, uh, built,
sold to technology companies and um,
worked at, uh, both Facebook and Snapchat.
And then, um, I've been
investing full time since, uh,
early beginning of 2016 and came
across Bitcoin specifically,
uh, around mining. So if you think
of Bitcoin as a computer network,
it's one of the, uh, it is the
strongest computer network in the world.
And I really became fascinated with
the idea of having a programmatic, uh,
monetary policy and one that can't be, um,
influenced or manipulated
by anyone. And so, um,
as I kind of dug deeper into
what Bitcoin was, how it worked,
what the major differences were between
it and other currencies in the world.
Uh, it just became very
obvious to me that, uh,
not only one does it have a lot of the
same sound money principles, gold has.
Um, there's also some digital
components to it, uh, that,
that make it attractive. And so, um, have
really spent the last number of years,
um, trying to, you know, one educate
people but also to, um, you know,
elaborate on a number of the macro issues
at play that I think are starting to
really kind of come to the forefront
right now. And as you called it, you know,
I think golden Bitcoin, both our, uh,
our insurance to some degree. And so, uh,
just doing my part I guess to,
uh, to help people see that.
Correct. And this is
the big part about it.
The reason I endorsed gold and silver
and cryptocurrencies like Bitcoin is
they're outside the system.
It's outside the fed and the treasury
and the average person has no idea what I
just said. You know, they don't
know that. They don't want it.
They don't know what the
fed is or the treasury.
So going back to Brien,
how does goal not get sucked into the
sucking sound called printing trillions of
dollars and destroying
the U S dollar? How does,
how does golden silver
kind of avoid that trap?
Well,
it's gold and silver have been around
since recorded and even prerecorded time,
4,000, 5,000 years,
whatever it's been currency.
It's been money and it was money
before paper money was invented. Uh,
but the whole, uh, idea of,
of money that is immutable and can't be
inflated away goes back even when they
were golden silver standard. See ancient
Greeks, the ancient Romans, et cetera.
And people tend to look back and say
that we're different from those people.
Those guys back then, are
we rolling? We're rolling.
Not human nature has never changed.
And human nature is such
that in governments, uh,
governments will overspend, uh, you know,
brew Wars or entitlements
or just bread and circuses.
They're going to overspend and they're
going to run up debts and deficits.
And throughout human history,
it's happened over and over again
that governments have overspent.
And he had to debase the currency back
when gold and silver were the currencies.
They would do things. They would, um,
they would use allies cheapen the
actual gold and silver in the coins,
which is the same these days is
printing more paper currency.
You creating more
currency out of the base.
Oh, I what? So Brien was
talking about a 1964,
I was like 15 years old and I looked at
my copper coins and my silver quarter
and my silver half dollar. And they
had a copper tinge to the thing.
And at that moment I kind of
smelled a rat. You know what I mean?
It was, and then what was
that era? What was happening?
Why did our silver coins suddenly
turn to a copper tinge, Brien?
Because the value of the silver
exceeded the value of the coin.
So when that happens,
lose the government loses money with
every coin of produces and they can't make
that up on volume. So that's
what's happened throughout history,
that the currency has been debased.
They start printing more and more of
the currency and the value of gold and
silver stays the same and the value
of the currency falls against it.
I could be inaccurate, but
when I saw the word DBAs that,
that mandated base metals to what,
like copper or nickel to silver.
Yeah, I don't, I'm not sure if that's
the actual origin of the world,
but that's the word. But that's
what essentially happened.
The added sink and copper and nickel to
the coins and took the silver completely
out. You know what's interesting is if
you look back in time and when the Roman
empire crashed, the value
of the silver denarius,
which was Roman coin at the
time, over about 50 years,
lost about 80% of its value.
Right. Looking back to that date,
1964 the purchasing power of the
dollar has lost about 80% of its value.
Actually 87% of its value
according to the government itself.
Thank you. So Anthony, what's your, um,
what are your thoughts around Bitcoin
staying outside the fed and the treasury
and why? Why is that important to you?
Yeah, I think there's two key
components to a, to Bitcoin,
especially for a conversation like this.
The first is, uh, it's decentralized.
And what that basically means is,
um, there's nobody, who is it,
the known creator, uh, it was
created by a pseudonymous person. Um,
and then also, uh, there's
no way to shut it down.
And what I mean by shut it
down is if you think of, uh,
networks around the world or
computer service, digital services,
usually what ends up happening is if the
government in any country doesn't like
it, they go to the
headquarters of that company,
or they go find the founder and they
say, Hey, you've got to shut this down,
or we will jail you find you,
et cetera. Well, with Bitcoin,
the entire network is run through,
uh, an overgeneralized manner.
A bunch of computers around the world.
So literally millions of computers in
every geography in the world are all
pointing at this network
and they're supporting it.
And so even if one country was to go
shut down every single computer in their
country, you would need global
coordination to shut the whole thing down.
And we just don't think that will happen.
And so when you get this decentralization,
what it does is it leads to a very
high level of resiliency, right?
It's very anti-fragile.
And what that de-centralization also does
is it keeps you outside of the system,
meaning that nobody can manipulate the
monetary policy, nobody can influence it,
nobody can change the preset,
uh, artificial cap, um,
in terms of the number
of supply, et cetera,
which we believe is going to be
really, really valuable over time.
The other advantage that Bitcoin
has, um, is that it's very, uh,
verifiable, right? In both its
scarcity and its monetary policy.
So if you think right now, you know,
exercise I've been running the last couple
of days is I asked people what's the
Fed's balance sheet?
And it's literally changing so quickly
that people almost always answer
incorrectly, right? We were
at $4 trillion six weeks ago.
Now we're at over 6 trillion and we're
literally printing hundreds of billions
of dollars a week.
But people don't actually know how
much is being printed and how large the
balance sheet is. Uh,
other than once a week they get an update
or they can check periodically with
Bitcoin,
what ends up happening is I can tell you
to the absolute Bitcoin how many were
created today, where they all are. Uh,
and also I can explain to you what the
circulating supplies and how many more
will be created or introduced into
the supply at what time periods in the
future.
So it's not only understanding kind of
structurally how the monetary policy
works,
but also having foresight or insight
into what the monetary policy is in the
future, which then gives
confidence to people to know, Hey,
I know what the monetary policy decisions
are in the future and they can't be
manipulated or changed.
And therefore I can go ahead and put my
confidence in something that has that
essentialized nature to it. Yeah.
That, and that's the key word
is confidence. Brien hug.
How are gold and silver confidence,
I mean to you and what's
your point of view on that?
Well, again, you look
at the track record, um,
4,000 years of protecting wealth
through, through times, through,
through the inevitable, uh, debasement
and destruction of paper money.
It happens every time. It
happens in every civilization,
throughout human history. It's going
to happen. It's happening right now.
And what we're seeing, uh, in this last
crisis is cope with crisis and these,
this tremendous policy response is that
the value of the dollar is going to be
depreciated a way, even more quickly
than any of us expected. You know, we,
we talk about what's going to happen
over the next five years. Well, you know,
it's all happened over the,
over essentially five days as
far as monetary policy and,
and everything's going into fast
forward. It's gone into turbo, um,
in this destruction of the,
of the dollar is going much more
quickly than we thought it would.
And that's what makes gold and silver and,
and Bitcoin and these kinds of alternative
currencies turn it of money rather so
important right now.
And so one thing, ladies and gentlemen,
the reason I support gold, silver,
Bitcoin, I support anything that's
outside the system. You know,
have you noticed, I'm kind
of a rebel in that way,
but it took me going to Vietnam
to kind of wake up, you know,
that we're being lied to by our own
government. So we come back with Bitcoin.
I'm gonna talk to 'em.
The key thing here is that anybody
who is in either gold, silver,
or Bitcoin where basically
rebels, you know,
we refused to have a muzzle put on us
and let alone like a dog on the street,
the social distancing. I think that's
really the key component there. There is,
I like gold and silver is I trust my
government that's plain and simple it.
And so that's why once I understood
it as little as I do about Bitcoin or
Ethereum, it's open source. It
means the fed cannot mess with it.
Nor can the treasury. No can a politician.
And that's kind of why I endorsed
both products. So we'll come back.
I want to go into more the rebel aspect
and I'm gonna ask Brien to talk about
what a rebel, uh, uh,
Blanchard was and what he had to do
to take on the whole government of the
United States to make
gold legal. And so then,
you know, Anthony can,
you can see the fight that guys like us
have had to get back to sanity when it
comes to our money because people wanted
us to just do as our toll and accept
what they give us, you
know, and save money.
And that's why lesson number one
at rich dad, poor dad is a rich,
don't work for money. And I've
always said savers are losers.
Why would you save something? They're
printing. It makes no sense to me.
And we come back,
we're going more into kind of the rebel
aspect of gall solver and Bitcoin.
We'll be right back. Welcome back.
Robert Kiyosaki, the rich dad radio show,
the good news and bad news about money.
We brought a case from old
town Scottsdale, Arizona,
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If you'll listen to this
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listen to a friends and family members
and business associates and discuss it.
Because we're really talking about why
savers are losers and why you shouldn't
work for money is so I caught so much
hell from this at 22 years ago because
anyway, cause I just don't trust
my government. I don't trust a fed.
I don't trust a treasury. And
I don't trust wall street.
I'm not saying they're bad
people, I just don't trust them.
I don't trust my mother-in-law, you
know? I mean I do with those people,
you just don't trust. So that's
really the big thing. And, and I'm,
I'm looking for in this
time of day and age,
I want something I can trust and have
confidence that will be there and it's
going to protect me from the insanity
in the world today. So Brien,
uh, again, and then we have
pumped, we talk about the,
I think the nature of golden silver and
Bitcoin is the guys that hold it are
basically rebels. I mean it's like,
Hey, don't you tell me what to do?
Don't tell me to save money, you know,
while you're printing
trillions of it don't,
don't taught me to be a
good boy and do as I'm told.
So I would like to have, um,
Brien explained what it was like
for blancher Jim Blanchard to be,
to take on the whole us
government to get golf illegally.
And once again,
it was president Roosevelt in 1933 who
made it illegal for Americans to own
gold. So what did Blanchard
have to go through? Brien?
Well, Jim was a rebel like you.
He did trust the government,
though he trusted the
government to devalue the
dollar and destroy the currency
because he knew it happened over and
over again throughout human history.
It's going to happen again. And
what happened was on the day,
in the summer of 1971 when Nixon announced
that we were basically cutting the
last tie to gold and that it was illegal
for American citizens to own gold,
but other governments could
send the United States
treasury dollar bills and get
go back. And they realized that,
or followed the guns and butter spending
that the government was joined at the U
S government was stowing at the dollar
was being devalued and there were too
many dollars floating around out there.
So they started sending their dollars
back over here and taking all of our gold
out of Fort Knox. So France
festival is a big one.
They said, you know, take your cheap
dollars back and we want the real stuff.
One gold,
it was the damn French again.
They said that was a good trade and they
started sending them over and that kind
of forced Nixon's hand.
But Jim Blanchard knew what was going
to happen at that point in time.
He was just a school teacher here in new
Orleans and he decided at that point in
time he was going to lobby to
return the right of ownership,
gold ownership to American citizens.
What year was this?
1971. Okay.
So that day he started gold newsletter
as this newsletter you typed out over his
kitchen table and mailed it out to
Congress and senators and everybody else
lobbied for the return of,
of the writer gold ownership.
It was illegal for you to own gold,
just like would have been heroin or
plutonium or anything or something along
those lines. Um, and he's, he was a crazy
character. You would have loved him.
Uh, he, he started protests.
He smuggled in a two ounce bar,
gold from Canada and he
went from city to city and,
uh, held press conferences and you would
send out notices, uh, to the local,
uh, IRS and FBI and ATF
and all the other local,
the government in each city saying,
I'm going to be at this point in time,
we're going to have the cameras rolling
and I'm going to brandish my, uh,
gold and I smuggled in from, from Canada.
And implicit was that in that
was please come arrest me.
And they never took him up on his
invitation. They were smarter than that,
but he did that around the country.
He had held protests on the Capitol
steps when Nixon was inaugurated for a
second term, he hired a biplane to,
to tow a banner saying legalized gold
over the inauguration ceremony until the
jets were scrambled to scare the wind.
You can imagine what would happen
today if you tried that. Uh,
but he was a crazy guy. Let me tell
you, Robert, you would've loved him. He,
he so charismatic and I think it was his
charisma that LAR largely carried the
day. He swung people over to his side. Uh,
and the last day of 1974,
they signed the law into a signed a law
that returned right of gold legalization
to American citizens.
And of course the whole goal was if
they're going to DBAs the currency,
if they're going to
create all this inflation,
then give people at least the right to
own gold to protect themselves from what
was coming. Um, it wish they did.
And it's been a long and storied
history since then. It was Gerald Ford,
right to legalized it.
It was the last day,
December 31st, 1974 the
law went into effect.
And what happened right after that?
Well, uh,
what had happened is actually the
price of gold crashed because uh,
in the run up to the it
being legalized, you know,
once again the damn French in the
Europeans where it was legal time gold,
they bought up the gold market
and drove the price from, uh,
basically around $35 to over $200.
And then when the Americans
could come in and buy it,
they dumped it all and left
them holding the bag. And, uh,
but Jim warned of that as well.
He actually started its investment
conferences to teach people about what was
going to happen. So the price crashed.
It bottomed again in September of 1976
at a little over a hundred dollars an
ounce. And then from that low point,
it went over eight times over and
peaked at $850 in January of 1980.
I see. Good. So Antony, which
has give us a story of, you know,
the S S supposedly some Japanese guy,
right? So Tosha or something like that.
And what, what is the,
what is the historical lineage in 2009,
I think Bitcoin came out, right?
So what was the historical lineage
of the creation of Bitcoin?
Yeah, so, uh, in 2008, a, um,
individual or a group of people, uh,
operating under the name
of Satoshi Nakamoto, uh,
created the Bitcoin white paper and it
was basically a nine page document that
outlines, um, electronic cash, right?
Peer to peer electronic cash and it talks
about what it is, why it's important,
how it works. Um,
it kind of all the things that you
would need to know about a new technical
system. Um, and it's written in a
relatively easy to understand language.
I highly suggest anyone go and read
that, uh, original Bitcoin white paper.
And then in January 3rd,
uh, 2009, um, Bitcoin, uh,
the network was launched and basically
the marketing that was done for this,
uh,
w was very kind of organic in that Toshi
Nakamoto sent an email to a list of
cryptographers right? Kind of these
cipher punks, if you will. Um,
so kind of going with the rebel theme
and, uh, what they basically said was,
look, if this could grow,
uh, and gain adoption, uh,
it could be very powerful, right?
And if you go back and you can read a
lot of their original communication, um,
around this time, there was, um,
a number of people who had
incredible foresight to realize, uh,
Hey, if we could get adoption and
get that decentralization right,
the more people that participate in the
network, the more resilient this is.
There is a separation of state and money
and that could be a really big idea if
that idea's time has come. And so, uh,
Satoshi Nakamoto over the next
couple of years, uh, continued to,
uh, work on Bitcoin, uh, communicate
with people and then eventually, uh,
essentially stepped aside
and, and disappeared.
And what a lot of people believe is that
Sitoshi Nakamoto is not the real name
of the creator. Uh, instead
it was a, uh, a pseudonym, um,
if you will.
And what they were basically really
trying to do is protect themselves, right?
Kind of the most selfless act is for
the creator not to take the credit. And,
um, so I think Bitcoin specifically, uh,
you'll hear a lot of times people talk
about like the Bitcoin ethos, right?
I think a lot of gold investors and
folks who believe in sound money,
how a very specific set of beliefs, uh,
both about the existing system but also
about why they have the assets that they
have. I think Bitcoin kind of
follows that same trend as well.
So when the first go up, what
was it open for investing?
That's my question though. Yeah. So the,
the beauty of in the beginning was, uh,
January 3rd, 2009 was when the
Bitcoin network kind of went live.
And in the beginning, uh,
the only way to acquire Bitcoin
was you had the mindset, right.
And the way that mining essentially
works is you have to contribute computing
power to the network. You
have to run the network.
And in exchange for running the network,
you get a portion of Bitcoin back, um,
on a daily or, uh, or more frequent basis.
And so in order to incentivize kind of
more people participating in the network,
they earn Bitcoin. And so the very
first people couldn't go to an exchange.
They couldn't go to
their friend and buy any.
They actually had to work right or
contribute power, uh, in order to earn it.
Now, over time, there's been a lot of
infrastructure built around Bitcoin.
Everything from, uh, cryptocurrency
exchanges to, um, things like GBTC,
which is a trust that's publicly traded,
um, you know, and other products.
But I think that part
of the value in, again,
instilling the confidence
in something like Bitcoin,
this new idea was having
a very organic, um,
kind of creation and original
adoption that wasn't, you know,
thrown about all in the media and stuff.
It was many years before anyone
had even written about Bitcoin.
And so it allowed for a number of years,
people to buy into the
narrative to understand how
it technically worked and to
start holding an asset that, um,
eventually now has grown into, you know,
a hundred plus billion dollar market cap.
So Brien, what was it like, you
know, back in the dark ages when, um,
you know, when goal was kind of
in the same phase, Bitcoin is now,
if you don't understand what I'm
saying, it was adoption. And, uh,
I remember talking to my friends about
gold and silver and they thought I had
us, you know, conehead or something.
And they said, why are you doing that?
But I understood that you
can't. And I, you know,
I said in 64 prior to 64,
I saw the transition from silver to
copper in the coins and that's called
Gresham's law. Right? And
what does Gresham's law,
right? A is good money,
drives out bad, uh,
or bad money will draws out good rather
in that if you have two competing
currencies, let's say gold and the dollar,
then people are going to use
the dollar in the corner,
hoard their goal to not put it in
circulation. So what you're saying is,
and actually this is how Jim Blanchard
started his financial empire is,
or his coin and bullion business.
Even as a school teacher,
he would take the real, uh, silver coins.
He would get in change and keep those. Um,
and he would keep turning in the Cooper
NIC or the copper nickel coins until he
got some silver ones back.
And that was an amazing time.
You can make a good bit of money there
if you had confidence in what was going
to happen five or six years later. Uh,
so yet that type of money disappeared
from circulation. If you were smart,
you grabbed them.
Yeah. So Gresham's law was, I didn't
even know it. I didn't even know it.
I'm an,
I'm in high school and I look at this
old copper tinge and I used to go down to
the bank with my dollar and I'd
buy dimes or I'd buy quarters.
And then I looked for that copper
tinge and I give it back to the bank.
But I kept the ones without the copper
tinge. That's Gresham's law, right,
Brien?
That's correct.
And one of the few times you could
make money off of the government.
So what's your Anthony, what,
what is your thing about Gresham's
law and Bitcoin? What do you,
what does that mean guys?
You guys in your world ever think about
that or talk about it or because that's
really what's happening. You guys
are going into hiding, right?
Yeah. I think there's two pieces to
this. So the first is, um, you know,
Bitcoin is the most
popular cryptocurrency.
And the reason why that's important is,
um, it's all about confidence, right?
Money is a belief system. And,
and the more people that
buy into the belief system,
the stronger that the value
of it. And obviously, uh,
there are now 2000,
3000 other cryptocurrencies and I always
kind of make a point to ensure people
understand that Bitcoin, in my
opinion, is the most important one. Uh,
it's the most popular and has kind of
all of the things that you want in sound
money or sound currency. The
other piece of this is, um,
a lot of people ask me like, how
do I think about Bitcoin? Um,
in terms of my wealth, right?
And in my financial portfolio.
And I think people are surprised when I
say I look at converting U S dollars to
Bitcoin as literally protecting my wealth.
And I think a lot of people in gold and
silver think the same way, right? Is um,
rather than hold this asset that
literally is going to be devalued.
I want to convert it to something that
has a protection based on the structure
of the asset, right? I think gold,
silver, Bitcoin, et cetera all have that.
And so I think that there's a lot of
similarities between Bitcoin and gold. Um,
there's also some differences,
but the similarities around sound money
principles and providing that protection
to people is really important
because I do believe that, um,
when you have that buy in on the belief
system and then you can't be inflated
away or manipulated by, um,
a central bank, you know,
it provides certain protections that can
create a lot of wealth or protect the
wealth that you already have.
Right? So once again, the
law is called Gresham's law.
If he can imagine me as little high school
kid walking up to the bank, you know,
and just saying, here's, here's $5 or $10.
And I was looking for rail money, not
fake money and giving the fake money,
the coins with the copper tinge back.
And that's why I always
chuckle when I talk.
I let talk to Bitcoin guys because
I think the principle's the same.
You just don't trust the fake money and
the money because the dollar became fake
in 1971. So we come back, I
generally would take over from here,
but I want to ask both of you
gentlemen, how do you guys invest?
What would you recommend
investing either gold, silver,
or cryptocurrencies, and what, uh,
what other things got to watch out for?
Because as you know, when there's
money to be had, the flakes come out,
we'll be right back. Welcome back.
Robert Kiyosaki, the rich dad radio show,
the good news and bad news
about money. Once again,
listen to the rich dad
radio program anytime,
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And please leave your review
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And all of our programs are
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We do that because we're
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things like this. But very important
here, if you have friends, family,
and business associates,
please watch this video.
Especially have somebody who believes in
working hard for money and saving money
because are violating Gresham's law.
So it's a very important program.
So I guess today are Anthony
pump [inaudible]. He's pop.
I love your program. I mean
you have a great guest as this.
I think YouTube is the best
educational site going right now.
And then we have my friend Brien
Lundin and Brien hosts the new Orleans
investment conference where
I show up every so often.
And we're talking about why gold,
silver, and crypto, like Bitcoin
are important for your portfolio.
And for me, they're not investments.
They're insurance policies.
Because as you know right now, both
the fed and treasury went criminal.
You know, they're buying anything.
They're even gonna buy junk bonds now.
That means they're going to print
money like we have never printed in the
history of the world. So if you're saving
money and you're working for money,
you're obsolete, your brain is
dead. He needs to start thinking.
So I'm going to start with Brien for
us and I'll ask you about two things.
One is how you buy physical gold
and what to watch out for. But also,
you know, guys like you,
I was into the junior mining
companies and I have a horrible,
I didn't do well in the mining business.
I started a mine and so in Argentina,
silver mine and a goal mine in
China, some of the silver mine,
but the Chinese helped
themselves to my goal.
So I don't have much love for the
CCP. Chinese people are great.
The communist party I don't
trust. So first of all, Brien,
which you might talk about how you would
recommend investing in gold and silver
physical, not the paper,
but also mining companies.
Absolutely.
There there's a lot of ways to invest
in gold and silver and people get
confused, but very simply, you're
right. They need insurance.
They need physical metals, silver, gold,
primarily in their possession or
accessible, not in a bank vault,
not in a safe deposit box because one of
the things you're insuring against is a
bank holiday. So you can get these
coins through. Bullion dealers,
don't buy a collectible proof coins.
Don't fall for a lot of scams out there
like trying to get proof coins in your
IRA and things like that by
simple gold bullion coins,
American gold Eagles, you can do old
silver coins, they called them junk coins.
And the coin trade are a great way
to do it because they're small,
easily divisible. You
can check prices online,
find a deal or you can deal with
regularly and someone you can trust.
Um, and somebody has been
in business for a long time.
Somebody that's been a member of the
professional and miss [inaudible] Guild,
um, and don't get into collecting rare
coins and falling for those pitches.
It's a wonderful thing. You can make
money at it. It's a great hobby,
but unless you're going to devote a
lot of time to it, just by district,
a very popular golden
silver boy in college.
Yeah, generally I, I'm all into gold
and silver Eagles because of that.
They're just more exchangeable. I pay
more for them. But I also have, you know,
pandas and Ozzie's and all this Canadians.
But the most important thing
is a numismatic, which is
a collectible if you're,
if you're into collectible coins as
good antique, basically what they are.
But if you don't know anything
about it, stay out of it. Right?
Yeah. You can make a lot of money in that,
but you have to do it as a
hobby to really learn about it.
Right. And then what about mining shares?
Well,
if you believe that gold and silver are
going up for these kinds of inevitable
trends that we were talking about, uh,
then first you get your
boy in his insurance.
But if you want to play that
trend to get some leverage,
get some torque in your investment,
something that might be going up four
or five times more than gold itself,
then you can get into mining stocks.
You can buy the big indices, GDX, GDX,
J for the big mining stocks.
But when you get into the
junior exploration and
development companies, yeah,
that's, that's more of a casino. I know
what you're talking. You've lived it,
you've lived it. Uh, but there
are inefficiencies in that market.
So if you can go to conferences, you
can subscribe to some newsletters,
you can learn about it,
meet the companies, uh,
then you can exploit those inefficiencies
and find out what are some of the
companies that can do.
And you have a, you have
a goal newsletter, right?
Yeah, we do gold newsletter. Jim Blanchard
started it. We're in our 50th year.
You go to gold newsletter.com
and if you do go newsletter.com,
forward slash rich dead,
you can get some special deals that
we offer your listeners. Right?
Again, we're an education
company. We don't sell,
I'll make commissions
on any of those stuff.
We just wants you to be smart and safe,
especially in today's Corona crisis.
So Antony, what, which is,
how do people get into,
let's say crypto or
specifically Bitcoin? Cause I'm,
I'm so technologically handicapped,
it, my brain gives out on me.
Yeah. I look for, I think that's
one of the big things, right?
Is it sounds really scary. Hey, how am
I going to go buy Bitcoin? Because, um,
you know what, whether
people like it or not, uh,
ordering physical gold or silver and it
shows up in the mail at your house, um,
just seems much easier.
Right? And, and with this,
you're going to have to go on to, uh,
one of the cryptocurrency exchanges, uh,
mainly, uh, either, um,
Coinbase or Gemini or two of the more
popular ones in the United States. And,
uh, then you can go ahead and, uh,
sign for an account and then buy Bitcoin
there. Uh, important to buy Bitcoin,
not Bitcoin cash or any of the
other names that use Bitcoin.
What's the difference? What's the
difference? Cause that's a table.
That's what kind of bugs
me. Cause there's, you know,
there's so many Bitcoins now.
Well there's only one Bitcoin.
The rest of them are scams, right?
And similar to the golden silver markets
where you get kind of the real thing
and then you get a bunch of
the scams, um, again, when,
when there's value being created, all
the scammers show up to try to, you know,
distract people from that value.
And so I think that, you know,
making sure you buy Bitcoin and
Bitcoin only, uh, is important. Um,
and then the other thing that you can
do is if you want to avoid using those,
um, cryptocurrency exchanges, you
can buy something like, uh, GBTC.
So GBTC is a publicly traded trust. Uh,
you can put it in your IRA
or something like that. Um,
you don't actually take possession
of the Bitcoin, um, you know,
and kind of all of the
security that comes with that,
you're just owning a stock, like
you would, um, you know, a, um,
a gold ETF or something like that,
but it's just Bitcoin underlying it.
So those are the main two ways I
think people get exposure right now.
Quick question. How many
different cryptos are there now?
Well, there's like over 3000 of them, um,
in terms of all the
different projects, but uh,
to kind of put it in perspective, um,
the entire crypto market
on a market cap basis,
Bitcoin is somewhere around 65% of
it by itself. So it's, you know,
kind of by far the most dominant.
And then the other
2,999 or whatever it is,
make up that the remainder
of the market cap.
So my last question to you is,
when I first looked into Bitcoin,
this company called silk
road popped up. What,
what do you know about silk road?
Well, now we all know everything about
silk road. Um, given that there's a,
there's a number of
books written about it,
but it's silk road was basically
think of it as a, uh, an eBay for, uh,
the dark market, right? Or
kind of the illegal market. Um,
and it's actually a really
important part of the story. Right?
And the reason why I say that
is because, um, you know,
as we've invested in technology, one
of the things you learned is that, uh,
the nefarious actors are always
the first to use technology.
So they're the first to use cell phones
and beepers and Bitcoin and all these
other things. Uh,
and it's because they're
constantly pushing the pace
of innovation or they're at
the edge of innovation. Uh, cause I
was trying to evade the law, right?
So they're trying to find a new
technology that the law does understand,
et cetera.
But then what ends up happening is it's
kinda got this a U shape to adoption,
um, in that there's a bunch of
nefarious actors in the beginning,
then you get kind of mainstream
adoption and then it goes back up, uh,
on the other side. Cause if
you think of the U S dollar,
how much money laundering goes
on with a dollar, right? A lot.
And so I think that what
ends up occurring is, um,
when you see the nefarious actors very
early on adopting something like a silk
road,
what it shows is that there's value where
there's demand and then what you need
to see is over time those
nefarious actors kind of get, um,
dissipated out or overwhelmed
by non nefarious actors.
And that's what we've seen with Bitcoin.
Okay. So in closing, I'm a
thank you for the, you know,
the wealth of knowledge and history
you've gotten here are shared. But, um,
every guy, every person asks
the same question. Okay.
Today's April 20th, 2020. So Brien,
do you have a number in your head for
the price of gold and silver in a year?
I mean, everybody asks, what do you think
is going to be? And I'm going and I,
I keep my mouth shut
because, I don't know.
But you have a number for
gold and silver per ounce.
Well, I've always learned never
to give a price and a date.
And now you're asking for both of them?
No, no, no. I'm just saying it today
is April, 2020. So let's say we go out,
you can go out as far as you like, but
I,
I w I would say in a year we'll be
around 2,200 to $2,300 I would think is a
fairly safe bet. It's a
bet of course. But, uh,
I think that's an easy target for
gold right now given everything.
What about silver?
Silver would probably in that scenario
would be close to a 45 $50 an ounce.
You see it and people keep asking
me, why do you endorse silver?
There isn't as, it's still
50% below us all time high.
And gold is pushing us all time high.
Yeah. It moves after gold and moves
for the same reasons. It's gold.
If you believe gold is going
up, if you, if you like gold,
you should love silver because it's
going to move further percentage wise in
gold.
Right. You know,
the silver not long ago was like
49 bucks and today is less than 20.
Right. And goal all time
highs. I could be wrong.
I thought it was 19 and
today at 17. So I think,
I think the run is actually going to
be in silver if gold moves, right?
That's correct.
That's a good, a good analysis and good
bet on bedding the same way actually.
Yeah. That's the crystal ball.
Right? So, mr pomp, what's the,
now what are the numbers running
through your brain as we talk?
This is April 20th, 2020. What's
the price of Bitcoin today?
I will, uh, I'm going to caveat my answer.
So Bitcoin today is trading around $7,000.
One of the things to understand about
Bitcoin and gold, the differences, um,
Bitcoin has much more volatility,
right? Uh, Brien mentioned the, uh, um,
kind of how stable gold has been for
5,000 years and it's done the job that
people wanted it to do.
And so in times of, um,
kind of economic chaos or these
liquidity crisis, like we saw, uh,
gold only dropped 10 or 12%.
It kind of did its job right?
In terms of retaining its value.
Bitcoin dropped 50%. Right,
which is obviously very,
very volatile when the markets drop
that works against Bitcoin and works in
Gold's favor, I think
when the market goes up,
then that volatility helps
Bitcoin, right? And, um,
for that reason, um,
there's something called the
Bitcoin having that's coming up,
which essentially is, uh,
today 1800 Bitcoin a day are brought
into the circulating supply in a very
programmatic way. In may
of this year, may 2020,
that 1800 Bitcoin is going
to get cut in half to 900.
So there will be this supply shock. Um,
it would be similar to let's say 50% of
gold miners going offline all at once,
right? So when to think about it.
And so that has historically caused
a very rapid price appreciation.
And so we've got a,
a price target of about a hundred thousand
dollars by the end of December, 2021.
So about 18 months away. Um, you know,
you get a pretty significant
price appreciation due to
that halving event that's
going on plus the macro backdrop.
Oh, I got goosebumps thinking about it.
Well, both, both Bitcoin in
a, in golden silver, right.
I think all three of them, that this
is the setup that they want where, uh,
the government is printing a lot of
money and those have, uh, have, um,
you know, sound money principles.
And so we'll see what happens.
It's trillions or they're,
they're really helping us all.
Thank God God blessed
the fed and the treasury.
I want to thank you guys for your
contribution and it has been a very,
very informative show,
so thank you very much.
Thank you, Robert. Thanks. Thank you,
pop. Absolutely. Thank you guys. Okay.
And I thank you all for listening
to the rich dad radio show.
