Robert Kiyosaki and Andy Schectman discuss the current state of the economy
and potential risks that people should be aware of. They refer to three
emergency podcasts covering different topics, including the safety of
people's money in banks, the potential consequences of the US losing its
petrol reserve status, and the risks associated with the failure of
Deutsche Bank.
It's important to note that the safety of people's money in banks is a
growing concern, especially with the increasing number of bank failures and
the possibility of a global recession. Additionally, the US losing its
petrol reserve status could have significant implications for the country's
economy, as it would mean a loss of power and influence in the global
market.
The risks associated with the failure of Deutsche Bank are not to be taken
lightly, as it is one of the largest banks in Europe and its collapse could
have a domino effect on the global financial system.
To protect oneself from potential economic crises, Robert and Andy stress
the importance of investing in precious metals, particularly silver. This
is because silver has historically been a safe haven asset during times of
economic uncertainty.
They also discuss China's role in building infrastructure and
industrializing countries in a mutually beneficial way. This is an
important point to consider, as China's economic growth has had a
significant impact on the global economy and its policies can have
far-reaching consequences.
Host Robert Kiyosaki calls this episode “Emergency Podcast #3” while guest
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, talks
about the first two “Emergency podcasts.”
Emergency Podcast #1 talked about how the FDIC and the federal reserve bank
will determine what banks live or die. “There are roughly 5,000 of these
regional banks,” says Schectman. “These banks are responsible for 70% of
all small business loans, which is part of the 40% of GNP of our country.”
As the majority of small businesses in America have relied on these
regional banks, Kiyosaki and Schectman discuss whether or not one should
stay with the relationship they have and prepare for the worst, or take
their money and move it into a handful of very large commercial banks. The
question is, “Is your money safe in a bank or is it going to be stolen by
the banks - called a “bail-in,” as Kiyosaki says.
United States Secretary of the Treasury Yellen lit a fuse under 5,000 banks
in this country…forcing everyone into a handful of corporate banks. “It’s
centralized banking, they control the whole economy, run by the academic
elite…
Mexico has formally applied to BRICS and the rumor is Japan, Australia, and
New Zealand are contemplating joining it. This group is reeling against
this type of hegemony, symbolizing how the United States and its actions
have done more to destroy itself in the past few years than any external
enemy could do. “We weaponize our source of power—the US dollar.”
The Ramifications are hyperinflation. When 70% of the world's population
says they aren’t going to use this currency anymore.
The Ramifications are hyperinflation. When 70% of the world's population
says they aren’t going to use this currency anymore.
As the President of Kenya says, “Those of you who are holding dollars, you
better do what you must do. Because this market is going to be different in
a couple of weeks.” In other words, get out of dollars and do it quickly,”
as Schectman says. “When the dollar dies, along with stocks, bonds, and
real estate, people will come knocking. And when people have nothing to
lose, they lose it!”
Kiyosaki says, “I would rather have this $35 coin than this “toilet paper.”