(rock 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 of the
Rich Dad Radio Show,
the good news and bad news about money.
And boy, I'd tell you,
we've had one Rich Dad
Radio Show after the other,
and everybody is saying the same thing,
a big effin' crash is comin'.
But everybody has different points of view
of what you should do.
So so far, this is number
four of the pre-crash
Rich Dad Radio program,
and every one of 'em will
give you a stunning insight
as to what the future holds.
Just big reminder,
Rich Dad does not make recommendations
what to buy or sell,
doesn't tell you what to do.
We are a purely educational company
and we encourage our guests to recommend
what they recommend,
but please, it doesn't mean
that Rich Dad recommends anything.
We're purely educational.
And I think one of the things
we do the best at is present
the opposing point of view.
Because as you all know,
all coins have three sides,
heads, tails, and the edge.
And we at Rich Dad like
to stand at the edge
and look at both sides.
So the first of our guests
today is Bert Dohmen.
He's the author of "Prelude to a Meltdown"
and "The Financial Apocalypse."
He is a publisher of
the Wellington Letter,
I would say the most
accurate forecasting letter
on the market today.
And if you want to make money,
you should subscribe to
the Wellington Letter.
And if you don't wanna lose money,
you should definitely subscribe
to the Wellington Letter.
His last letter, by the
way, this is August 2020.
His last letter was so accurate.
If I had watched it,
I would've saved us up 150,000 bucks.
I didn't listen to Bert.
So here he is on our program,
and he is going to explain
what he sees, how he sees it,
but most importantly, what
he thinks you should do.
Again, this is August 2020,
and every one of our guests
has said the same thing.
We're gonna crash.
It's gonna to be a big one.
So Bert, my friend, welcome
to the Rich Dad Radio Show.
- [Bert] Thank you very much.
It's always very nice to be with you
and speak with your listeners
and you have lots of 'em.
- Yeah.
- That's evident.
- Yeah, the most important thing,
Bert, I'm praising you right now.
The reason I recommend your newsletter
is because you're not a really,
you're a technical guy,
but you're a teacher.
And as, when you're explaining what's,
why markets are up and down,
you're actually explaining
some of the underlying reasons
that are behind the technical moves.
So that's why your Wellington
Letter is exemplatory.
This last letter was so
right on it was frightening.
So that's my, and how much is it?
Let's start right there.
- [Bert] I think it was
$69 a month autocharged,
so every month you get charged 69.
If you wanna pay for a year ahead of time,
I think it's around 590.
And it comes out twice
or three times a week.
A month, I'm sorry.
And it's usually about
20 pages, thereabouts.
The most thorough analysis
that you will ever see in your life.
When I speak at a conference
and I go in the exhibit area
and I see other newsletters that,
I see these four-pagers,
and I say, oh my God,
I could do that in 20 minutes.
And it was charging about,
you know, less than we do,
but you get a lot less.
So we'll put a lot of effort into it.
You know, we've had the
business now for 44 years.
The Wellington Letter has won
many awards of distinction.
It has been publicized
by Wall Street Journal,
Barons, et cetera.
So we've got a long track record,
and as I say, if it's lasted this long,
it's gotta be good.
- And then, by the way,
Bert and I are both from Hawaii,
and his reputation was way ahead of him.
I mean, everybody knew he was accurate.
A lotta people didn't
like what Bert was saying,
but his forecasts are accurate.
I will say that much.
So please subscribe to
the Wellington Letter.
His website is DohmenCapital.com,
D-O-H-M-E-N capital.com.
And once again, Rich Dad
is a neutral company.
We listen to both sides.
So Bert, you know,
I'll start with something really goofy.
What do you see, you know, we
have this election coming up.
The stock market's at an all-time high.
Is there anything that a
politician can do to keep it up
so there's no crash?
- [Bert] Well, I think
the current administration
is doing everything possible
to keep the economy up
and the stock market, of course,
but he's fighting a very
strong forces on the other side
that really want to demolish him.
And we've been writing about
that for the last three years.
And in fact, three years ago,
I wrote that ahead of the 2020 election,
there will be a big stock market crash
to be followed by a
recession/depression in the economy.
So far, that is right on target,
and that was a forecast
made three years ago.
I knew nothing about the
virus, of course, at that time.
In fact, I said I don't
know what would cause it,
but it's gonna be a manipulated crash.
And here we are.
And so going by the
powers behind the scenes,
that's what you wanna look at.
You know, I see these guys in the media
always talking about earnings
and dividends and all of this baloney.
It has absolutely no relevance.
Just forget all those things
and focus on what is really important.
And that is supply and demand for stock
and for the stock market.
And this is what we measure
every day, money flow.
That's the only thing
that can change the price
of an investment is supply and demand.
That's the reason.
It seems so logical,
but people always forget that.
If there's more demand for a
stock than there is supply,
the price goes up.
If there's more supply than demand,
the price goes down.
And this is what you wanna look at,
and that's what we measure all the time.
And that's how we caught on February 23rd,
which was a Sunday,
we put out a special bulletin
and said the financial storm begins.
And it started the next day.
The next day was the start
of that big historic crash,
the worst crash in history, okay?
Only lasted about four weeks,
but it was horrendous, okay?
So we got that message on that weekend.
So now we came to the bottom
of that on March 21st,
we said close out all short positions,
'cause we had beautiful
profits on our shorts,
and there's going to be a big rally.
The rally started the next
trading day, March 23rd,
and people think it's still ongoing.
It really isn't.
Right now. we're seeing
very similar signals
to what we saw in early February.
You know, manipulate these
five FAANG stocks upward,
and people think, oh,
the market is booming.
And then they have some other
stocks that are well-known
and they have big gains and so on.
But the majority of stocks
is what you want to look at.
And this is why we teach people,
well, how do you measure
what the majority of stocks are doing?
You know, there are many
different ways to do that.
- What was your last,
again, this is August 2020.
Your last newsletter
was, it was so prescient.
It was so far ahead, but so accurate.
Quick question.
How do you do that?
- [Bert] Well, you
know, technical analysis
really measures the money flows.
That's all it does.
And the change in money flows.
That is what is important,
change, the Delta.
That is what's so important in the market.
In over 44 years,
this has really kept us on the right path.
We have called every major
decline in the stock market
in 44 years using that type of analysis.
And when money is suddenly going out,
you have to measure it.
The guys that are looking at earnings
and dividends and so on,
they will never find that out, okay?
But we do it,
and one easy way is by
looking at the indices
that are not capitalization weighted.
For example, the S&P has an
SEP equal weighted index.
So you wanna look at that.
You want to look at very a broad index,
which we really like,
and nobody ever talks about on TV,
is the value line index.
1,660 stocks unweighted.
So every stock that has equal importance.
That's what you wanna look at, you know?
You don't care if the stock
you have in your portfolio
has a billion shares outstanding
or 10 billion shares.
What difference does it make?
But that's what cap weighted indexes do.
- Okay, so-
- [Bert] They valuate
each stock separately.
- Good, good.
So are you saying what
causes these movements
of cash flowing of money flowing
is that the big houses changing positions?
Is that what you're,
it's not the little mom and pop.
- [Bert] No.
- These are big companies.
- [Bert] No, it's always been same for,
since the stock market started.
It's always the big
insiders versus the public.
Always is the same.
And the way traps are built.
And I've been saying it
for the last several weeks.
Instead of the huge bull trap
that's once again being organized,
just as it was in February.
These are manipulation, you know?
Nothing happens in the
stock market by coincidence.
And when something happens in the world
like an airplane crash
or a threatened war or something,
I get people say,
oh, well, that's what made
the stock market move.
Yeah, maybe.
Maybe the stock market
moved for a few hours.
But it has absolutely
no significance, often.
The big thing you wanna
look at as the money flows
is money flowing in or money flowing out.
And now we see money flowing out.
We combine that with the
analysis of the Federal Reserve,
the Federal Reserve,
everybody talks about,
they put 4 trillion, 5
trillion into the market,
and that's what's moving the market,
but nobody ever talks about
that over the last nine weeks,
the Federal Reserve has
actually been taking money
out of the system.
Nobody talks about that.
Here, again, we go over change, delta.
The Federal Reserve has changed policy.
They're taking money out of the system,
money supply, same thing.
Everybody talks about
20% growth money supply,
the biggest in decades
and so on and so on.
But they don't talk about
that in the last eight weeks,
money supply has actually
gone down, you know?
So you said the important
things you want to look at,
you wanna look at what is now,
and that's not what an
average of the last year.
That's totally irrelevant.
You want to catch,
when you go from Los Angeles to New York,
you drive in a car,
do you have to know every turn
on the road ahead of time?
No, when you see there's a turn coming,
that's when you take the turn.
You don't have to forecast that turn.
- So, Bert, given that we probably have
no major house insiders
on this radio show,
and most of the people are the public,
what would you say
right now to mom and pop
with a 401(k), they're 55 years old,
they're getting ready for retirement,
and they're maxed out in stocks
in the stock market with mutual funds.
- [Bert] They're maxed
out fully and that's it?
- Yeah. That's all they got.
I mean, they got everything.
- [Bert] I would say run for the hills
unless you wanna go broke.
- What was that?
- [Bert] Run for the hills.
You don't want to be
fully invested right now.
You want to be out of this.
You want to have safety for
your money when everybody's in.
We have now seen the greatest
speculative environment
the last couple of months or four months
since the dot com bubble
in 1999, early 2000,
and that ended very, very
painfully for the both, yeah?
This is in many respects, like,
call option to put option
ratios, et cetera, et cetera.
This is as bad or even
worse than what we saw
ahead of that dot com bubble's pop
on March 10th, year 2000,
on March 10th, year 2000,
we gave a signal and said,
when the Federal Reserve
assumes this attitude,
it ends in a crash,
and it did end in a crash, yeah?
So you have to look at
what the fed is doing.
Not what they say, but what they're doing.
- Why are they pulling money out?
- [Bert] Why, well, just ask that again.
- Why are they pulling money out?
I thought they were
trying to put money in.
- [Bert] Oh, look, they have.
They put in more than ever
in the history of mankind.
This is all artificial money.
They know they overdid it
in order to prevent a
financial market meltdown.
Really, we were on the
precipice of an implosion
of the world's financial system.
And so they had to do what they could do
in order to save the global system.
And now they say, okay,
stock market is near an all time high,
at least by some indices.
Not according to the
indices that we watch.
But speculation is rampant.
People are taking the $600 a week money
that they're getting from the government
and they're speculating in
the stock market and options.
You know, you take a
look at the call options,
it's just insane.
These are people that
have absolutely no idea
what they're doing,
and they're buying call options,
which is the most risky thing
that you can ever do in the market.
They have no idea what they're doing.
- Especially at a top.
- [Bert] They're gonna
lose 100% of their money.
- Yeah, especially at a top.
Hey, when we come back,
we'll be talking more, again,
we're talking to Bert
Dohmen, this old friend.
He's in Hawaii, again,
he's my neighbor there.
When I was just starting
out, he was infamous.
Still is infamous.
(Bert laughs)
A lotta times people
don't like what he calls
because most people are bullish
and Bert will rise up when he's bearish,
and he's pretty accurate.
So this, again, is August 2020.
The reason I say that,
this world is changing so fast right now,
you've got to know.
August 2019 was completely
different than August 2020.
So in his, and Bert is a publisher
of the Wellington Letter.
His last letter was so accurate,
sent chills up my spine.
So when we come back, Bert, you know,
I'm a big gold investor,
and your things you warned,
and you warned me well that
it was gonna come down,
but I got your letter a day too late.
Anyway, with that said,
the reason we have the Rich Dad Radio Show
is we present different points of view.
I was just on the phone with
my friend, Peter Schiff,
and he's saying buy more gold.
We had Harry Dent on,
and he said sell all the gold you got.
So ladies and gentlemen,
somewhere in between,
somebody's right.
So when Bert comes back,
he's gonna give us his point of view
and his forecast on those
of you who are like me,
who are gold bugs.
We'll be right back.
Welcome back.
Robert Kiyosaki, the Rich Dad Radio Show,
the good news and bad news about money.
Listen to the Rich Dad
Radio program anytime,
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And please leave us a review
whenever you can listen to.
And all of our programs are
archived at richdadradio.com.
Again, we archive them because
we're purely educational.
We don't recommend you
buy or sell anything.
We just present different points of view
so you can make up your own decision
of what you're gonna do.
So listen to this program
again at richdadradio.com.
You'll go up twice as smart.
But if you discuss this
program with our friend
Bert Dohmen with friends,
family, or business associates,
you'll be 10 times smarter than
99% of the people out there.
But that's not saying that much.
And so we've been talking to Bert Dohmen,
but this, on the Rich Dad Radio program.
I mean, this is why Rich Dad was created.
I won't get into why,
but we could, you know,
I said the biggest stock
market crash was coming
and I called it in 2016,
but what I didn't see when I called it,
and you can see me on Fox, I
mean, on CNN with Wolf Blitzer,
calling the crash of Lehman Brothers.
But anyway, it's here now.
And we've had David Stockman,
who was Reagan's budget director.
And I asked him,
what would Reagan do
that Trump's not doing?
We've had Chris Powell of GATA,
which is a gold antitrust,
because the gold market and
silver markets are completely
manipulated by the big banks.
He explains why you shouldn't
gold and silver ETFs,
but that's his point of view.
And then we just had Harry Dent,
and Harry Dent is calling
for the biggest effin' crash comin',
and he says gold's gonna go
down to a thousand bucks.
And my friend Peter Schiff and Jim Records
are calling for it to keep going up.
And today we have Bert Dohmen,
who was the head of,
and he's an all friend,
not old, but he's a friend
for years and years and years,
his Dohmen Capital Research.
In his last Wellington Letter,
which I highly recommend
everybody subscribe to.
It'll make you money, but more
importantly, save you money.
And it's well-written,
simple, it's educational.
It's not technical.
It's not just telling
you buy this, buy that.
Bert explains what's going on underneath
what's going on.
So it's Wellington Letter.
And Bert's gonna talk about now,
'cause the question I
have for him is that,
again, this is August 2020,
'cause things are changing so fast
that everything may change tomorrow,
so that's why we're hard on the date here.
So we've printed more money
in the history of the world.
And my question to Bert was
does it necessarily correlate
that the more money printed,
the bigger the crash?
And so that's the question, Bert,
is are you expecting a biggest
crash ever or something else?
- [Bert] Well, it depends on
how you measure the crash.
Did we have a crash in March of this year?
It was the worst decline,
four-week decline we ever
saw in a stock market.
So I would call it a crash.
Some people might say no,
it was just a four-week
correction, you know?
And so it depends on your definition.
Everything always depends
on the definition.
People really have to think more
before they ask the question,
because many times, well, Bert,
should I buy gold, you know?
And my answer to that is, well,
what is your time horizon?
Is it two days, two weeks, two months,
or 20 years, you know?
Depends very much what
your time horizon is,
because most people don't define that,
and therefore never know if what they buy
is a short-term trade or a long-term hold.
And if you don't know that,
you really don't know what you should do
with your position, yeah?
So basically about the fed,
yes, they have put the
record amount of money.
Nobody ever thought the fed
would do what they've done.
And some of the things are really
totally prohibited by their charter.
Like, they formed these
special purpose vehicles
with the US treasury in order for the feds
to be able to buy ETFs
that invest in bonds and junk bonds.
So the fed right now owns junk bonds,
which they're really not allowed to do
because they have market risk, okay?
But they did it anyway to
support the junk bond market.
Because if that implodes,
then you have a systemic risk.
So a lotta things are being
done in Japan right now,
the Bank of Japan they're
running out of ammunition.
They've tried negative interest rates.
The Bank of Japan now owns
about 80% of all listed stocks
in Japan via the ETFs
that they have bought.
It's incredible.
I mean, basically they've
nationalized the stock market.
But they're doing this to
keep things glued together.
And the Federal Reserve can
keep things glued together.
Whenever everything starts to
crumble, as it is in March,
they can roll out these
unprecedented measures
and keep things together.
And that's why I say a
crash I would define as,
now, what I'm looking for is
a long-term crash, basically,
that's gonna keep on going down
interrupted by the very strong rallies
that gets everybody bullish again.
They're manipulated rallies.
They have the high-frequency traders,
the algo traders working together,
and most people don't realize anymore
that there's something called the PPT.
Everybody that's been in
markets for a long time
knows that the Plunge Protection Team,
this was called into being
in 1988 after the '87 crash,
signed into law by President Reagan.
And it actually formed a
team between the US Treasury
and the Federal Reserve to
intervene in the stock market
to support stock.
Their mission is to
preserve orderly markets.
That's what it says.
In my opinion, there's the mission creep,
and they've actually been
inflating stocks upward.
And so if they can do
this at a critical time,
sometimes market forces overwhelm them,
as it did in March and so on,
but then finally things are right.
They can then turn the market around.
So we have to always remember
this market is totally manipulated, okay?
So therefore all of these metrics,
earnings and dividends
and all this baloney,
and the beautiful gadgets
that somebody makes,
they're irrelevant, totally irrelevant.
- So what's your short-term?
I mean, during the break,
we're talking about much hinges
upon this coming election
between Trump and Biden
and things like this.
So how does that affect
your vision of the future?
- [Bert] Well, okay,
everything goes in cycles.
We've now had a four-month
rally in the stock market
and stocks have gone to insane levels.
They're already discounting
what could be the next five
or 10 years of growth in the economy
on today's prices.
When the prices get that high,
I go the other way, okay?
So this cannot last.
I can give you many, many reasons
why this is absolutely insane,
but the markets go insane at times,
as they did in the early
2000s, as well, you know?
And that's when you want
to be out of the market
or you want to start
looking at short sales
in order to make lot of money.
So this is a danger period.
The election is ahead.
In my opinion, it's gonna be a battle
between the White House forces
with the PPT to keep the
stock market supportive.
And then, of course,
the other side that want to
have Trump lose the election.
And it's gonna be close,
and it's gonna cause a lotta volatility.
If one side wins, like,
the person who just
picked his running mate,
if they win,
I think the stock market could have
a serious, serious crash.
- So if Biden and Harris get elected,
you think there's gonna
be a crash, correction?
- [Bert] Yeah, because they have
all the wrong policies, you know?
- What are the wrong
policies in your mind?
- [Bert] Pardon?
- What are the wrong
policies in your mind?
- [Bert] Oh, everything.
Everything that they have
proposed is totally wrong.
Trump actually got the US economy
out of this eight-year slump
that was produced produced
by the wrong policies
in the White House.
He came in and he reversed everything.
They reduced regulations in the US by 50%.
They cut tax, they cut capital gains,
and all of these things,
all the right policies for the economy.
He's businessman, okay?
He's not a politician.
What you wanna do is
always keep the politicians
out of politics.
(both laugh)
That's difficult to do.
But those politicians,
they're about the worst ones.
Politicians, by the way,
right now are making
our healthcare policies.
They're forcing us to wear a mask.
I read yesterday in one stated fact,
they now have to wear a mask
on Zoom video conference.
Can you imagine you're sitting
in front of your computer
and you have to wear a mask?
I don't know, I guess
they think the COVID virus
can go through the airwaves of Zoom.
I don't know.
But this is how ridiculous
things have become.
So right now, if you're
looking at investments,
you want to be out of
the way of danger, okay?
You want, capital preservation is now key.
We've had the four-month rally.
Now you want to preserve capital.
If you were lucky enough
to get in at the bottom
when we set goals on all short positions,
there's going to be a good rally,
then you want to get out.
The actual top in the
indices that really count
was on June 8th.
That was the top of the rally.
And most people don't look at charts,
but look at the chart of
the value line, V-A-L-U-G,
and you will see this tops on June 8th.
That was the top.
So we have gone now two months
without any progress than this.
The only progress we've seen
is in the tech-laden NASDAQ index,
and which was highly manipulated.
It's basically five stocks
that move that index, okay?
I don't wanna see what
five stocks are doing.
I wanna see what 2000
stocks are doing, okay?
So this is the thing right now.
Do you want to go to safety?
We have a program called HedgeFolios.
And this is not a managed account.
We give you model portfolios.
(indistinct) conservative,
global conservative, et cetera.
We use ETFs, not stocks.
And you should see the
outperformance that we have.
I think after the crash,
the portfolios were up about 40%
and the indexes were
down about 30, you know?
So it's a huge outperformance.
- So, Bert, that HedgeFolios
is a service of Dohmen Capital?
- [Bert] Well, we actually formed
a different company for
that, Dohmen Strategy.
- Good.
- [Bert] But the URL is at
the website hedgefolios.com.
- Okay, so what's your for-
'Cause in your last Wellington Letter,
again, this is August 2020.
You were precise on the
correction in the gold market.
So what's your, you have any
forecast on gold and silver?
- [Bert] Yeah, we put out a gold report.
In fact, people can get it free.
It was about a week ago.
And just go to our
website dohmencapital.com
and you can get that gold report.
We're very bullish.
In 1980, we actually give a forecast,
very long-term forecast
based on extensive research
of long-term cycles.
And this is when gold was around
$700, something like that.
And we said we're going to
go into a 20-year bear market
in gold right now.
And people thought that was
insane because everybody
was looking for $3000 gold.
- Well, that's why everyone
hated you in Hawaii, Bert.
- [Bert] 1980.
(Robert laughs)
Pardon?
- I was one of those guys like,
how can he be saying that?
'Cause I was really bullish on gold.
Of course, I was selling
at eight, so I was happy.
But anyway, I just said,
how can you be saying that about gold?
But anyway, that's how accurate you are.
That was a long time ago.
- [Bert] And at the same time as that,
but what's really interesting
is the cycles then called
for a 30-year bull market.
And I even realize that I have no idea
what would cause a 30-year
bull market in gold.
So what happened?
20 years later, exactly 20 years later,
it was astonishing to us even,
'cause cycles move a little bit
to the left or to the right.
But this was right on 2001
was the bottom in gold
and 2002 was the start
of the next bull market.
So now we've had a 20-year
bull market again in gold.
It just hit a new high last week.
And a new high like that is going to have
a lot of resistance,
a loot of sellers.
And so now we say yes,
the circular bull market
is probably still intact.
That means another 10 years to the upside.
But we're gonna have a juicy, juicy...
- Correction.
- [Bert] Correction.
When people forget 2011,
gold mining stocks in
2011 went down about 80%
as measured by the ETF
for the gold miners,
80% from 2011.
Everybody was so bullish.
Nobody thought that gold could go down.
That lost 80% of their value.
Now, I ask you,
if you think you're a long-term investor,
could you stay invested
with an 80% decline
in your mining stocks?
I don't think so, yeah?
In fact, there was a there's
one major hedge fund manager.
He had a gold fund and
he lost about 90%, yeah?
So the gold corrections,
you said it before,
that the gold and silver
markets are highly manipulated,
and when everybody has
record bullish sentiment,
as we saw over the last month,
the insiders, the manipulators
take advantage of that.
They sell into it
and they sell short in
order to make money.
- Okay, hey, Bert, Bert, Bert.
- [Bert] So technically
the downside for us
is about a $500 decline in gold.
- Yeah, I'm just gonna say one thing.
You guys had better
subscribe to Bert's letter
the Wellington Letter,
because what he's covering here,
he's covering in every one of his issues.
The most important thing,
he keeps it simple and
there's pictures with charts,
but you can't see the charts now.
So that's why the Wellington
Letter is priceless.
I mean, I was sitting there
shocked at how accurate
your last, again, this is August 2020,
you're so precise,
I thought you were the guy
manipulating the market.
But anyway, again, tell us
how much does that letter cost
and what other services
does Dohmen Capital sell?
- [Bert] Dohmen, Dohmen Capital,
yeah, it's $69 a month.
And that's an auto charge.
So you get, what you
get with $69 per month,
it's really, I mean, we work at this.
I personally, and of course,
the people in the office
work on it, as well.
But I work on the market.
Right now I got it down
to about 12 hours a day.
I used to work about 14, 15.
But again, getting older,
and so 12 hours a day.
And I don't consider it work, you know?
There's an old saying,
if you love what you do,
you'll never work a day in your life.
I love what I do.
And it's so great when you've
got it figured out finally,
you know, after all of this work,
you say, ah, I got it.
I got it figured out.
I know what's gonna happen.
- Okay, okay, okay, Bert!
- [Bert] Just, you don't,
that's not a kneejerk reaction.
- Bert, I want people to
buy your letter, that's all.
That's all we need to say.
You're incredibly, you're getting better.
You're like a fine red wine
getting a little bit better every day.
(Bert laughs)
But this is my question,
because I've been wanting to ask you this,
and you skirted it about two sessions ago.
The question is, what
do you think of COVID?
- [Bert] What do I think of what?
- The pandemic
'Cause you said something,
you said, "I can't tell you."
- [Bert] Oh, COVID.
- You told me you couldn't tell me,
and ever since I was, you should tell me.
What do you think of it?
- [Bert] Well, the COVID,
I wrote this in January
when nobody really thought
it would be a big thing.
And I had read the foreign press because,
the the US press is done for.
We don't have a free press.
We don't have investigative
reporters anymore.
You know, they just blah, blah, blah.
It's propaganda, propaganda from A to Z.
So you have to start
reading the foreign press.
And I came across a
very scientific article
about the virus
and they had sequenced
the genome of that virus,
and they found out that it had an insert,
a manmade insert in the
genome of an HIV virus.
And I said, wow, this is manmade.
It's made in a laboratory.
So that's how we knew it
was made in the laboratory.
Then you have to think who would do this
and for what purpose, you know?
Then you investigate a little bit further.
Then you found out that
the US government NIH,
National Institute of Health,
actually sent $3.75 million
to the Wuhan virus lab
that manufactured this, apparently,
and a few years ago.
You say, why are we financing
the Wuhan virus lab, you know?
That's a bio lab for the military.
And so all of it started coming together,
and I said, oh,
this is how they're going
to crash the market, yeah?
Three years ago,
when I forecasted a crash
ahead of the election,
I didn't know what would cause it.
Now we knew.
I said, that must be it.
- So Bert-
- [Bert] A matter of
fact, there's a virus.
- Bert, so let me just
ask you this question,
'cause we have, you know
who Stockman is, right?
He's Reagan's budget director.
- [Bert] Yeah.
- And I asked him at the
end of the program, I said,
what would Trump do?
And you guys should
listen to the interview
with David Stockman.
It's fantastic.
It is funny, hysterical, and frightening.
But anyway, I said, what would Trump do?
What would Reagan do
that Trump would not do?
Without hesitation, David Stockman,
who has a theology degree from Harvard,
said he would, Reagan would've
fired Fauci immediately.
Now-
- [Bert] Oh, absolutely.
I've written that.
- So I watched Trump sit
up there on the stage
and this little Fauci,
I call him the fascist Fauci,
He sits there and Trump
doesn't dare touch him.
That's kinda spooks me.
And then what Stockman
calls kerchief later,
kerchief woman, Dr. Birx, B-I-R-X.
So you have Fauci and Birx.
And Trump's just stands away from them.
Do you think they have
something on him or power,
or what's going on?
- [Bert] You know, I've asked
that same question to myself,
and I think it's the following.
They are very popular in the media.
They know that if he fired them,
he would expose himself to
just a barrage of criticism
from the left side
saying that he fired them
because they don't want to go along
with Trump's theories about the virus.
And so he said, let them be on the media.
Let them destroy themselves.
And Fauci is destroying himself
with all of this fake stuff.
In January, he said you don't need masks.
You can go to the Super
Bowl, no problem, you know?
Then he reverses himself.
Oh, no mass gatherings allowed.
You've gotta wear mask even
when you're in your home
and you're sitting on the toilet,
you've gotta have a mask, you know?
But I think they're destroying themselves.
And I think that Trump probably said,
leave it alone.
They will destroy,
and right now I see it on Twitter.
People hate this guy, you know?
I call him Fake Fauci, you know?
And that's what he is.
And you have a good
book out called "Fake."
You should really publicize
that more, you know?
(Robert laughs)
Because everything is fake nowadays.
- So anyway, this just came to me.
The last day thing Fauci said
was you should have a mask
when you're having sex.
I said, well, some of my girlfriends,
I should have had a mask on,
but anyway, that's, I
can't say that anymore.
But anyway, Bert, you
know, I really wanna come,
I want, hey-
- [Bert] You know, Bob,
I wonder if social distancing
applies to the bedroom?
- Well, it depends on who you're with.
(both laugh)
But anyway, what he was saying,
he was recommending
young kids have mask on
when they're having sex
with the girlfriends.
I'm going, that might be a good idea.
But anyway, I wanna really commend you.
Your last Wellington
Letter was so spot on.
It's your best ever.
So you are getting better
with age, my friend.
- [Bert] Well, thank
you very much, Robert.
That's a great compliment coming from you,
'cause you see so much, you know?
- Well, I wish I had read
your letter two days earlier.
How come it was late?
(laughs)
- [Bert] You know, the gold (indistinct),
we're saying this, I've been
saying it for two weeks.
This is going to end in a huge plunge
(Robert screams)
(indistinct) everyone in at the top.
And, you know, and then
the huge plunge came,
down $120 in one day.
So everyone is right now locked into gold
and people will be waiting
forever for a rally
so they can, you know, the typical thing.
- Yeah, that's me.
- [Bert] Get out even.
Well, no, you don't get out even.
They won't let you get out even.
You're going to get out at
a big loss at the bottom.
- Well, that's, you sound like my friend
Harry Dent right now,
but I'm gonna talk to
my friend Peter Schiff
'cause he's got a different point of view.
But anyway, Bert-
- [Bert] Yeah, I know Peter.
- Yeah, it's almost entertainment
financial newsletter stuff.
But anyway, I thank you,
and I wanna ask everybody,
please get a copy.
Subscribe to the Wellington Letter.
It's Dohmen Capital Research website,
dohmencapital.com,
D-O-H-M-E-N-C-A-P-I-T-A-L dot com.
Thank you very much, Bert.
You're always a wealth of
information and insight,
and congratulations on all
your years and years and years
of doing what you love.
Thank you.
- [Bert] Thank you very much, Robert.
It's really a great opportunity.
I love speaking to your listeners,
but they give us just such
a good feedback, you know?
And that's really nice.
And you have a fantastic audience,
and I congratulate all of
your listeners, you know,
and I hope you stay safe.
And COVID, be that as it may.
I don't think it's any worse than the flu.
But stay safe in the market.
Don't get gobbled up by all of
this euphoria you see on TV.
In fact, I wrote that
in the last Wellington
and I said this is a good
time to hit the mute button
on your TV.
That's what it's for.
At market tops, you wanna hit mute
and not listen to all this bullish talk.
- Okay.
- [Bert] Okay, Bob, all the best.
- Thank you, thank you,
thank you, thank you.
And I thank you all.
When we come right back,
I'll be having a short
discussion with Sara here
to figure out what,
just to summarize this fantastic
interview with Bert Dohmen.
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
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So we're purely educational.
Listen to this program again.
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So listen to this podcast again
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discuss this, listen,
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go through the roof.
So, and if you have a question,
use hashtag AskRichDad on social media
and we may look at, answer the question.
But the kind of interesting
news is we've had the tri-
We've had four guests on,
David Stockman, Reagan's budget director.
We've had Chris Powell, head of GATA,
who talks about how gold and
silver are suppressed in price.
And we've had Harry Dent was
calling gold to go to 1000.
And that we've had Bert Dohmen,
who publishes the Wellington Letter.
They're all saying the same thing,
we're going for a crash.
The difference is what do you do?
You know, and so just
for your entertainment,
'cause we trashed my friend Peter.
We don't trash 'em, we tease 'em.
I kinda lean more in
the camp of Peter Schiff
and Jim Records saying
gold is gonna go up,
and Harry's calling for 1000.
So we just had Harry on the phone.
I mean, Peter on the phone.
He says, well, that's an improvement,
because Harry has been
calling for gold to go to 400.
1000's an increase.
But I'm gonna tell you
why it's gonna go to 3000.
So Sara has just booked Peter Schiff.
I confuse all these names.
So Peter Schiff will be
on next week sometime,
and he's gonna tell us why
gold's gonna go to 3000.
And Harry's calling for 1000.
I'll never have a debate between the two,
'cause there'll just be
yelling and screaming going on.
But anyway, that's what makes
Rich Dad Radio entertaining
and for you as a listener to
decide what's best for you.
So Sara, what did you
think about all this?
- [Sara] Well, you always
say that you make, you know,
you love crashes 'cause
you make the most money.
I say I love crashes 'cause
I book the best guests,
because every, and I'm telling you,
none of these guests I reached out to.
They all came to us and said
now's the time to get on.
I've gotta get on the show.
I've gotta get on the show.
Because I think we said
in a previous interview,
something's, you can feel it in there,
something's happening.
And I think each one of our guests
have provided a different perspective.
They're all great analysts
and they do their research.
And so I like the fact
that we can present 'em all
and then our listeners can take action
that best suits them.
But I love the different perspectives.
And I'm looking forward to
this Peter Schiff interview
because I've listened to him in the past
and he's a great guy,
and his opposition to Harry,
that'll make an interesting-
- Yeah, you don't want them two on the,
I've seen 'em both at the same time.
It's not, it's called a catfight.
Anyway, but anyway,
it's kind of interesting times, isn't it?
- [Sara] Yeah.
- So again, we have a
huge lineup coming up.
Stockman, what'd you think of Stockman.
- [Sara] Stockman, I've
told everybody I know
it's my favorite
interview we've ever done,
and we've interviewed some
awesome, great people.
I mean, all of our guests are great.
They're so generous and
kind and willing to educate.
- Smart.
- [Sara] Smart.
He's funny like, for a
academic, Harvard theologist.
- Theologist.
Congressman.
- [Sara] He's hilarious.
- Budget director for the
Reagan administration.
- [Sara] I mean, if you
just lay his resume out,
he sounds like the most boring person
on the face of the earth,
but he is hilarious.
He has a great perspective
on what's happening in this pandemic.
And I'm really looking
forward to everybody,
to hearing that episode.
My greatest joke coming out of that one is
what would Reagan do?
And his first, he'd fire Fauci.
- Without hesitation.
- [Sara] Oh, it just spit out like that.
And then I will back it up and say,
we interviewed Jack Bergman
a couple of weeks ago.
- My friend the general, congressman.
- [Sara] Oh my gosh, my best
joke out of that episode is
Trump and Biden know exactly
where they stand on politics.
They are who they are.
The difference is
somebody has to tell Biden
where he's standing.
(Robert laughs)
I listened, 'cause I just re-listened,
we just published that show yesterday.
Oh my gosh, it cracks me up
every time I hear it, so.
- I hope, I can't wait
for a Trump-Biden debate.
Oh, that'll be a dog
fight if we ever saw one.
- [Sara] Definitely.
So, yeah, it's great
times, interesting times.
I just hope our listeners
heed the warnings
and know something's happening.
Just choose who you're learning from.
- What's best for you.
And then what about Chris Powell thinking
the manipulation of gold?
That's big business.
- [Sara] Well, something
that I find interesting,
when we did that interview,
he talked about the Act of 1934.
I don't have it in front of me.
I forget what it was called.
But it was where it was
legal for the government
to manipulate the prices.
Kim wrote it down.
I noticed that she wrote that down.
She said she had never heard it before.
This is what they don't teach in school.
And that was alarming to me.
That stood out for me the
rest of the interview,
because it's legal.
It's been accepted for 90 years.
I mean, that's scary.
And I think most people don't
know that bit of information.
- It's 100% manipulated.
And then we have Harry Dent
who was talking about 90 years.
What'd you learn from Harry this time?
- Harry, the greatest bubble burst,
he said the greatest bubble
burst ever is coming.
He, I love his 90-year
cycle that he talks about.
It's so true.
It's so dead on.
- Can I tell you something, though, Sara?
I hear all this stuff
and I still do what I wanna do anyway.
(Sara laughs)
I mean, that's, what's so stupid about me.
- [Sara] You've been talking to Harry now
for how many years and years.
- Years.
- [Sara] He's been
telling you the same stuff
over and over again.
- And Bert I've known for, like, 40 years,
and I still don't listen to him.
(both laugh)
- [Sara] So in that
interview with Harry Dent,
with Stan Hurley,
and I think my favorite thing
was his unemployment pattern,
how when unemployment's
at an all-time low,
the stock market's at an all-time high.
and that's what we're in right now.
Or, I'm sorry, the stock
market'll see its all-time high
five to seven months after.
- Those guys are so unbelievable.
- [Sara] So good, so good.
- They're so unbelievable
in their forecasting.
One more thing about Chris Powell,
for those of you who
wonder should I buy gold
or silver ETFs?
And to those guys like me who are hard,
we take only delivery of gold and silver.
I think that's an
important part to listen to
is because gold and silver
ETFs are 100% manipulated.
- [Sara] Right. Right.
And that's his biggest warning.
He said if you don't,
if you can't physically
hold it in your hand,
you own nothing.
- But that's because we're physical guys.
Whereas paper guys, they liked the paper.
Everybody's got a point of view.
And then we had Bert who's,
I didn't have to yell at him this time.
- [Sara] No, you were so well-behaved.
I was shocked.
I was with our last, "Bert, Bert, Bert,"
You know, we got so many
comments on YouTube.
They're like Robert, he knows his name.
Some of them were pretty funny.
But I thought it was great.
I thought this interview was great.
His Wellington Letter, like
you said throughout the show,
so good, so smart, right on the money.
- So precise.
- [Sara] So for $69 a month, I get it,
that for a lot of people
is a lot of money,
but it can save you a lot of money.
- And make you a lot.
It would've saved me about 150,000 bucks.
- [Sara] And we make, just to be clear,
Rich Dad doesn't make any money
on the sale of that newsletter.
- No, no.
- [Sara] So we have nothing in it,
whether you buy it or not.
But I think it's in
everybody's best interest to,
this is, financial education
is more important now
than ever before,
and for $69 a month?
- And he is, Bert's a teacher.
I subscribe to other newsletters.
They're boring.
But Bert explains the psychology
and the momentum behind
these moves up and down.
So he's a great teacher.
- And I liked that Bert, in his letters,
he talks about how it relates
to current events, you know?
So you can see, like he talks
about the election, right?
Whatever happens in the election.
So we all live through election ads
and all of this crap, the media crap.
So he relates what we're
seeing happening in the markets
with what's going on in current events.
And I think that's what makes
the letter so interesting.
- It's fascinating.
- [Sara] It's very easy to read, so.
- So the final word is this,
if Bert, well, Bert was correct.
I took about $150,000 hit on gold.
That's something you go,
well, that's a lot of money,
and it is.
But I've been in this market,
as I said earlier.
I started buying gold in
'73 and silver in 1964.
And I've seen this thing go up and down.
I've started a gold mine.
I've started a silver mine.
Kim and I bought our house
with silver and all this stuff.
So the question is how do
you handle a $150,000 loss?
And this is the difference, you know?
There's a saying that
says no pain, no gain.
So when I take a punch
in the gut like that,
not that it doesn't
affect my wealth at all,
because I have so much of gold and silver,
but it's still painful.
It's still a shock to the gut.
But all it does,
that's why I'm talking to Sara now.
I said Sara, we've gotta make more money.
So all I'm saying to you is this.
As an entrepreneur, when you lose money,
it's not, oh, somebody
cheated me or I'm a victim
or I gotta blame somebody for,
I gotta blame somebody.
No, it's just a punch in the gut.
And you say, okay,
I'm gonna stand up and
I'm gonna go back at it.
So Sara and I gotta figure
out how to make more money.
(both laugh)
Right?
- [Sara] Well, I thought it was good,
when we were talking about
the Bert Dohmen episode,
you and I were texting and you said,
"I gotta get Bert Dohmen on."
And I said, yeah, his
last letter or something.
And you said, "Yeah, I
should've read it yesterday."
- I know.
That son of a bitch.
Where was the mail?
- [Sara] Right, I think-
- Where was that email?
- [Sara] To your point, you
know, don't wait around.
You can't wait around
for things to happen.
You've got to be proactive,
educate yourself.
And if something, if you lose, you lose,
but you learn and you move on.
- Yeah, don't blame
somebody for your stupid,
you know, that's what life is.
Sometimes, you know
what I don't understand?
Everybody gets a trophy BS.
Where the hell did that come from?
You know, when you lose,
it should inspire you to stand back up.
Like, I'm a big fan of Eckhart Tolle.
You know what I mean?
(indistinct) rude awakening
whatever he writes about.
But he talks about when you
take something that bad,
it's like your crucifixion,
and I want you to take it in
the gut and you go, oh my God,
and you, things happen to you.
Make mistakes, bad things
happen, good things happen.
But after the crucifixion
comes the resurrection.
So now I'm already on it.
I said okay,
I should've listened to
Bert, yada, yada, yada.
We're take a couple of hits.
Let's say it's a $500,000 hit.
That's not a lot of money,
but it's gonna make me richer.
Do you know what I mean?
Now I'm on Sara about how
do we make more money?
(laughs)
- [Sara] Well, now you
can just buy more gold.
- Yeah, we'll buy more gold.
(Sara laughs)
So, ladies and gentlemen,
we're at the Rich Dad Company.
We're not here, we're
not college professors.
And we think making mistakes
is one of the best ways to learn.
So I wanna thank you
all for being supporters
of the Rich Dad Radio program.
Trust you'll learn something,
but most important,
keep getting educated
and make up your own
mind what's best for you.
Thank you for listening to Rich Dad Radio.
