Millennial Money

MM031: The Truth About Socialism and Why I'm A Capitalist

av Millennial Money | Publicerades 1/27/2021

We’ve heard a lot the past decade about quantitative easing. Basically, it’s the government taking rich dad’s advice and printing money… literally. As Robert discusses in his new book, FAKE, there are three things we need to be diligent about as we continue to improve our financial education. The first of these, FAKE money, is what Robert discusses in today’s video. The US Treasury creates a bond which they sell to the FED. The FED then turns those bonds into money which is given to the Big Banks. The Big Banks then loan that money to the rich. This money printing process isn’t done for free, however. The taxpayer is the one holding the IOU that the US Treasury created with their bonds. After Robert discusses how money is created out of thin air through the Mandrake Mechanism, he continues to explain how the US taxpayer is now on the hook for student loans, as well. Back in 2009, President Obama shifted the flow of money out from the FED and into the hands of the people for their student loans. Where students previously sought their loans through the Big Banks, the loans were now backed directly by the US Treasury. Robert ends the discussion with a warning about the current Bubble Economy we find ourselves in and how to best prepare for when it pops. #robertkiyosaki​ #richdadpoordad​ #millennialmoney​ https://www.richdad.com/​ Facebook: @RobertKiyosaki https://www.facebook.com/RobertKiyosaki/​ Twitter: @TheRealKiyosaki https://twitter.com/theRealKiyosaki​ Instagram: @TheRealKiyosaki https://www.instagram.com/therealkiyo...​ If you would like to experience this episode in closed caption, it can be found here on the YouTube Rich Dad channel. Learn more about your ad choices. Visit megaphone.fm/adchoices

Om Podcasten

Want the TRUTH about money and just not the lies the media is selling you?Then join Rich Dad host Alexandra Gonzalez-Ganoza as she interviews the #1 personal finance author in the world, Robert Kiyosaki, as well as many of the world’s greatest thinkers about money, finance and the economy.Learn how these things apply to the entire generation of Millennials.You won’t hear the old advice of saving your money and getting a 401(k). Instead, you will get REAL advice from the most successful people who have REAL knowledge about the REAL way money can be made because they actually DO what they teach.If you want to take control of your future and you are tired of the same old advice, let Alexandra take you down the path to TRUE wealth, Let her take you to Rich Dad’s Millennial Money.