The discussion centers on the unconventional but powerful principles of wealth creation and financial freedom, emphasizing the strategic use of debt, continuous learning, and the mindset shifts required to achieve significant financial success, contrasting traditional advice with the "Rich Dad" philosophy.
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How much debt are you in?
>> 1.2 bill. Debt is money. You know, my
poor dad always says, "Get out of debt."
Dave Ramsey says, "Get out of debt." My
rich dad says only lazy people use their
own money. Your job is to borrow money.
We're always buying real estate cuz we
use debt. We pay no tax legally.
>> And you talk about in the rich dad
principles that good debt puts money in
your pocket. You use other people's
money to create more value essentially
and to create cash flow and financial
freedom. I haven't found anything else
out there that has the same tax
strategies and legal loopholes and have
those infinite returns like you talk
about. It's pretty amazing.
>> My job is to invest with no money. So, a
lot of times we'll buy, you know, like
300 unit apartment. We have a million
dollars in it. We get the net operating
income up. We fix it up, increase the
rents and all this stuff. NI is high
enough the banker will give us our
million dollars back. So, guess what?
When that million dollars comes back to
us, we're now infinite because none of
our money is in it. I was talking to my
friend William. We were talking about
impossible goals. We were talking about
like a 10-year goal and whatever. And he
goes, "Have you thought about your
thousand-year goal? That's legacy."
Called it the the Jesus effect. Like
Jesus lives on long after he's gone.
You've changed the way the world sees
money and that will continue to live on.
>> Why are poor people poor? Because they
use poor words. You know, the word
became flesh and dwelt amongst us from
the Bible. And when a person says, "I
can't afford it or I can't do that."
They see themselves poorly. And where
your attention goes, your energy flows.
And so if your attention is on what you
don't want, I don't want to be poor, I
don't want to have a bad relationship, I
don't want to be sick, then all you're
going to get is all of those things.
>> What you don't want.
>> What do you think are the top attributes
of a incredible salesperson like Elon
Musk or Donald Trump? Like what what do
you think that edge is to be able to
We are back in the house for round two.
I had Robert on the Hannah Hammond show
over six months ago now as my very first
guest and I'm just so happy to have you
back and can't wait to get hear more
about your life story and your insights
on the economy and entrepreneurship,
real estate investing, all the things
and uh we'll talk a little bit about the
tariffs and and what's going on in the
economy right now as well. So, thank you
so much for coming back on the show.
>> Well, thank you and congratulations.
Thank you. Show was very successful.
>> Thank you. I know. Our first our first
video had over 2 million views. >> Wow.
>> Wow.
>> That's incredible.
>> Yeah. Just from the the all the views,
the clips, and the short form and stuff,
but you know, the one that really uh
>> blew up blew up was the savers or losers
concept. I know you uh you know, saving
cash is throwing money down the drain. >> Yeah.
>> Yeah.
>> Yeah. But awesome. So, first I want to
start into um your story about Vietnam.
I mean, you fought and a lot of people
don't know this, but you actually went
and fought for our country twice in
Vietnam and um you've even gone down in
in your you were a fighter pilot and
you've even gone down and I mean you've
had to take lives. You've had to fight
for your life and you've had to fight
for the freedom of the country and
protect the lives of all the men around
you. So, I just really want to dive into
how that shaped you as a man because
that was some of your earliest
experiences in adulthood and um how that
helped you evolve as a leader and and uh
you know just to ultimately change the
world which now you've impacted over 40
million lives with the cop with your
book sales of Rich Dad Poor Dad and
you're still traveling the world. Every
time I text you you're in like some
other country teaching the cash flow
game and you're just truly a legend. So
take us back to Vietnam and and some of
those lessons you learned there.
>> Well, the reason I want to talk to you
about it is because my friend Ramasi,
he wrote the book The Rational Male. And
I think every man and woman should read it
it
>> because I'm always talking to you
because you have beauty, you have sex
appeal, you're rich, and you have power.
And what happens for women, the more
successful you get, the fewer men.
Whereas for a guy more successfully get
more women,
>> you know what I mean? Because men aren't
picky. And what R says that women have
hypergamy, which means that I think
that's the word.
>> Women will only go up, but men are
horse. They'll take anything they can
get. You know what I mean?
>> So that's why I keep talking to you. I
said because you've got beauty, brain,
sex, money, power. But according to RO
in his book, Rational Male, fewer men.
And that's my concern because when you
we were talking about what should we
talk about, it was I notice men getting
more effeminite. They're they're less
men. I mean, just men and a lot of men I
see are kind of squishy, if you know
what I mean. I'm not against it, but um
and that's why I was talking about
Marine Corps. And as a kid growing up in
Hawaii, not that I was swishy, but I
didn't have any core strength in, you
know, I mean, drive or stamina and all
that stuff. I was a surfer kid, cutting
school, doing all that, flunking at
school. So, by the time I was 15, I knew
I was in trouble. That if I didn't shape
up and get some core strength,
discipline, you call it, I was in trouble.
trouble.
>> So, I applied um plus I flunked out of
school twice because I can't write. now
a best, you know, bestselling books. But
anyway, um, so I wrote to my congressman
and he gave me Naval, US Naval Academy
in Annapolis, not gave me, but he says
you're authorized to go there, plus US
Merch Merch Marine Academy at Kings
Point, New York. And I think that's what
really kind of shaped me up was I went
to military school, not some swishy
swishy college like the University of
Hawaii. And that was a direction. You
know, we all have we all make changes in
our lives paths. So going the military
route was the best thing I could have
done because I was just a swishy little
surfer boy. >> Yeah.
>> Yeah.
>> You know, not much drive, not much
direction, no stamina, no goals. Um,
>> who pushed you to go to military school?
Was it you or was it your rich dad or
who influenced you?
>> No, something. We all have this guiding
system inside. I knew I was in trouble.
You know, I flunked out of high school
when I was 15 because I can't write.
>> And then when I was when I was 18, I
flunked out of school because I can't
write. And you know, I mean, I knew I
was in trouble because
>> kids were passing me and all this. I
couldn't get a date. And
>> you know, I mean,
>> and look at you now.
>> Well, one of the most horrible stories I
had was, you know, we went to this dance
when first, you know, first going out
with girls and it was this old gym and
all the boys were lined up on one side
of the wall. probably about 15 years old
and all the girls on the other side this
is old school 50s you know and the boys
would not cross the gym with to
ask a girl so finally the teacher was so
exasperated said okay you girls can ask
boys and so all the girls came rushing
across I was the only guy sitting on the
wall by myself
>> oh my god
>> oh it you talk about wakeup calls in
life you know and that was a big one I
Boy, if I don't shake up, I'm not going
to have any girlfriends, you know, all
the stuff that's important to you when
you're 15. >> Yeah.
>> Yeah.
>> So, that's what you know, that's kind of
what shaped me up. And I said, I better
start doing something besides just
surfing and cutting school.
>> Interesting. And was that when you were
like 17, right around
>> uh 15 to 17? I was completely worthless,
you know. >> Yeah.
>> Yeah.
>> But I was also at that time trying to
we're all trying to find our own
directions in life. And when I was 15, I
asked my teacher, I said, "When are we
going to study money?" And the teacher
says, "The love of money is the root of
all evil." I said, "Well, maybe evil to
you, but I like to have some." Because
the school I went to in, you know,
elementary school, we're all rich kids,
you know, for some reason. Across the
street were the poor kids. I mean,
they're across the street.
>> So the rich kids school I went to. And I
said, "How come they're rich and I'm
poor?" So my father, poor dad, was a PhD
from Stanford near Northwest University
Chicago. smart guy. He says, "Well, son,
if you stay in school, you'll be rich."
I said, "Dad, you're a PhD. You're still poor."
poor." >> Yeah.
>> Yeah.
>> So, our schools don't teach us anything
about money. So, all of this was shaping
me, if you know what I mean. >> Mhm.
>> Mhm.
>> We're talking about in the car driving
up here is we start as young people
start finding our directions in life.
So, I realized if I didn't get rich, I
wasn't going to get laid. >> Yeah.
>> Yeah.
>> You know, it's important. and and if if
I didn't get some core strength and some
some discipline, I'd be this little
swishy little boy running around the place.
place.
>> So, but at this point, you had already
been learning from your rich dad, right?
>> I started at 10. Yes.
>> Okay. But you still decided to go the
military route versus trying to just
forget school and start
entrepreneurship. What kind of guided
you to that direction even though you
started learning about the importance of
making money? Well, I hate to say this,
that University of Hawaii,
>> if you can fog a mirror, they'll let you
in. My grades were so bad, University of
Hawaii rejected me. >> Wow.
>> Wow.
>> If you can't get University of Hawaii
means you're a corpse or something, you know.
know. >> Yeah.
>> Yeah.
>> So, I had a lot of these and we all have
it in life, you know, some things are
good, some things are bad. But I I
realized I was in trouble. And if I
didn't make changes in me, I was in
bigger trouble. So my rich dad was a guy
that started, you know, so I he started
teaching me at 10, playing Monopoly, you
know, four green houses, 1031
uh red hotel. So I own hotels today and
15,000 rental properties and make a lot
of money and pay no tax. You know, I
love it. That's my game. But that's why
I like you because I'm But when I met
you, I said, "Well, you're the same path
except you're a beautiful woman." And
that's when you and I started talking
about a while ago things that Joe Polish
introduced me to you. I said, "Your path
is different than mine because the more
powerful, richer, and successful you
get, fewer men." Do you know what I
mean? And for me, men are
They'll take anything.
>> Yeah. Yeah. It's true. I struggle with
that for sure. It being I mean, and I
know I will continue to. So, >> yeah.
>> yeah.
>> Well, don't change. You know what I
mean? No, you're hot. I couldn't.
>> You know that.
>> Well, thank you.
>> So, what was fighting in Vietnam like
for you? Like were you what were what
are the greatest lessons that you
learned from fighting in Vietnam?
>> Well, I went twice, you know. I went in
1966 when I was 18 years old and I was a
midshipman. Midshipman's a student
officer on board a ship and we sailed
into Cameron Bay. I was carrying bombs
500, 750 and,000 pound bombs through
Vietnam. And some 18 years old, you
know, walking along, you know, their
bombs are going off, people are dying
and all that. And uh so I went up to
this bar, little sandy bar, and I said I
asked the girl, I said, "What does a
Vietkong look like?" And she says,
"They're sitting right there."
So I look over these two guys about my
age, right?
>> Was the three of them, that's right,
three of them. I walk up to them and I
say, "How you guys doing?" And they
didn't speak English. I didn't speak
Vietnamese, but you know, two or three
beers later, you can converse fairly
well. And so I want to find out why they
were communists. Why were they Marxist?
Because at at the academy, I went to US
Merch Marine Academy. We studied
Marxism. I said, 'Wh we study Marxism?
He said, ' Because communists are our
enemy. So I want I could now interview
the enemy, if you know what I mean.
We're just kids. We're kids. And
finally, what it came down to, they
wanted what you and I have, capitalism.
>> They wanted the ability to use our own
work and efforts, you know, to attain a
better life. And I don't know how we got
to there drinking, you know, beer and
all this stuff. They just want the same
things, you know. >> Yeah.
>> Yeah.
>> And so that was uh 19 1966.
And then I said, "I'll be back." And
they said, "We'll be waiting." So I came
back in 72 as a Marine pilot and I flew
the helicopter gunship off a carrier.
And I don't know if I ever shot those
guys, but uh I still remember them. I
said, "You know, we're just young men."
>> Yeah. And we're just told to kill the
other side. I was telling you about the
poem by Alfred Lord Tennyson. Ours is
not to question why. Ours is but to do
or die. And so we just I just flew into
battle and I was killing guys who were
trying to kill me. It's nuts. It's nuts.
And I went down three times. Not not to
enemy fire, but I went down for uh
engine failures and aircraft failures
and all this stuff. But the Marine Corps
trained us so well, you know, to fly a a
helicopter without an engine or without
a tailrotor or failures. So all of that
shaped me, if you know what I mean,
because you don't can't expect
everything to go well.
>> So if you're prepared for bad times,
there's always good times. >> Yeah.
>> Yeah.
>> And it was great training, great
discipline. I loved it. And I want, you
know, I see men today. I mean, a lot of
my friends kids, they're a little
lightweight, if you know what I mean. >> Mhm.
>> Mhm.
>> So, that's talking to you. How do you
find a man with some of these guys are
going the other way? You know, they're
they want to compete with girls track
members or something.
>> Yeah. Yeah. Fight in the girl sports.
>> So, how is it, let me ask you this
question. How is it being a woman who is
ambitious and gorgeous and making a lot
of money? How do you find men? Uh, well,
I'm single, so there's your answer. Uh,
it's it's challenging. You know, I I'm
still trying to figure that out. And
it's, you know, I have a lot of I have a
lot of masculine energy that I have to
bring down because a man, especially an
alpha powerful man,
>> you have drive.
>> Yeah. I love
>> you have ambition. You have goals, which
I love. >> Yeah.
>> Yeah.
>> But but men also have the desire to be
uh, you know, >> Tarzan.
>> Tarzan.
>> Yeah. Yeah. They want to be like they
want to have a feminine woman at the
same time as somebody that contributes
and stuff. So I've actually found that a
lot of
>> alpha men, which is usually what I am
around. So that's the only sample size I
really know. But a lot of those types of
men, they like more of the traditional
wife, like the feminine, the the soft,
the nurturing. And I I always kind of
had to not be that to to like survive in
in my own world. And so I have to I have
to balance that out personally. But, you
know, I'm so focused on building
businesses and building an empire. It's
just like I'm not very um I'm like I'm
not looking type thing, but I don't
really know anybody that is would be
like that's the perfect partner for me.
I haven't really met that person. It's
it's challenging.
>> Well, again, I want to thank Joe Polish
because he introduced me to you. I'm going
going
>> you've got it on the outside, but more
importantly got it on the inside.
>> Thank you. Now that's in today's
masculine feminine world makes it harder
for you.
>> For me it's for me the more successful I
get more women which is nice you know
>> but uh for women I feel for you you know.
know. >> Yeah.
>> Yeah.
>> Well and then as I get older too I mean
I'm 29 so I have a couple years of shelf
life in in me. But I you know I'm around
I'm around men in their their 40s and
50s is you know the majority of the men
around me. and they want a young they
they have money and they have freedom
and they want a young pretty girl that
you know and I don't blame them. So, I
know as I as I continue to age, but
that's where it has to become more it it
has to be so much deeper than just it's
it can't be transactional, you know, and
I think so many relationships these days
are very transactional. And it's it
breaks my heart really because I want a
partner that is truly
helps me be the best version of myself
and vice versa. And it's not something
of just like, oh, you're a trophy or
you're a status symbol or you're a
safety blanket. It's something deeper
than that. Not
>> it could definitely be a trophy. >> Yeah.
>> Yeah.
>> But you wouldn't you wouldn't allow
yourself to be that.
>> No. Right.
>> So when we're talking about what what we
talk about this show, we talk about, you
know, sex, money, and power is a good
combination, especially for men, but for
women, it's another story. That's what
I'm saying.
>> Yeah. Yeah. We talk we talk a lot about
that when we when we spend time together.
together.
>> So I mean, and you even said that was a
driving factor for you even from high
school. I mean, I think it's humanity,
right? is a man wants to be um chosen by
a woman and wants to be be able to have
their pick out there.
>> Well, I tell you, when I was sitting on
that gym wall and all the all the guys
were asked except me,
>> that was one of those wakeup calls, you
know, you go, you know, you're in trouble.
trouble.
>> I mean, I'm in trouble.
>> And that was the driving force to
ultimately cause you to
>> cause me to ask questions. And so my
poor dad, ah, don't worry, you know, get
your PhD and you'll be fine. My rich dad
said, and this is what I was talking to
you about. I said, 'I want to be an
entrepreneur. My dad wanted me to become
a, you know, I was a pilot, so go fly
for the airlines. I said, I'm through
flying. I loved it, but I'm through. And
I asked went to ask my rich dad, you
know, my best friend's father said, how
do I be an entrepreneur? He says, you
don't have the skills. I went, what? He
says, the skills to be an entrepreneur
are different than an employee. Well,
like a pilot is a different skill set
than an entrepreneur. You know what I
mean? They're completely different. So I
said, "So what's the first skill set?"
He says, "You have to be able to sell."
I went, "Oh no." The reason I say that
was in my family, poor dad's family,
salesmen were scum. My dad was actually
a Marxist. He's a good man, but a
Marxist believes in the abolition of
private property, taxation, and labor
unions. You study Mark. I had to study
Marx at the academy. M
>> and so you know Marxists abolition of
private property workers of the world
unite which is labor unions and taxes
are essential for the spread of
communism. That was my poor dad
>> and my rich dad didn't pay any taxes. So
I I rich dad had a lot of property. My
poor dad had none. So you can tell a
person by what they do more than what
they say.
>> So I'm studying with my rich dad how to
acquire real estate. So he says you got
to be an entrepreneur. number one skill
is to sell. I went, "Oh, no." Some I'm
about 24 years old now. Getting out of
the Marine Corps. Goes, "I don't want to
sell." Sorry. My my rich dad looks to
me. He says, "How's your sex life?" I
said, "Non-existent."
He says, "Because you can't sell." >> Wow.
>> Wow.
>> And then the second thing is you have to
learn to raise money. You're going to be
an entrepreneur. And you know, like that
was just terrifying. It was I was a
marine pilot. I came back. I was happy
to be alive. Lost a lot of friends out there.
there.
>> Just happy to be alive. But now I have
to learn how to raise capital. So that's
why I took I got a job with Xerox
because of the best sales training. And
then I got and I went to take courses in
real estate so I could learn how to use
debt to finance properties, which is
what you do. >> Yep.
>> Yep.
>> So it's skills that make you rich, not
your degrees. And then so you went to
Xerox, you got the sales training and
then you were successful in that but
then you decided to get into
entrepreneurship. You started like
>> you have to be able to sell to be an entrepreneur
entrepreneur >> right
>> right
>> when I when I meet people who are like
employees they can't sell
>> or they can't sell enough to you know
cover the rent and you know the more
employees they have the more you got to
sell and then you have to raise capital
to acquire property and stuff like this.
So they're just skill sets, but most
people don't have them and they become
the academic left. You know, this is my
friend Trump over here. They hate him
because boy can he sell.
>> You know what I mean? Is he a tough guy,
too? And you know what I mean? He and
Elon are tough guys.
>> Oh yeah. Oh god. They're dealmakers.
>> And you know I mean guy Elon Musk there
was first thing that Trump comes in.
Biden left those astronauts spinning in
space and Trump gets into office says,
"Hey, uh, Elon, get those get those
astronauts down." So, so Elon sends his
own rocket up to pick them up. It's >> crazy.
>> crazy.
>> He didn't send Uber. He sent his own rocket.
rocket.
>> I mean, those guys are studs.
>> I know. I can't believe it.
>> Billionaires, both of them.
>> Yeah. Yeah. I don't even What is Elon's
net worth at now? Likeund something
billion. It's crazy. Or 300. I don't
even know. I can't keep up. It changes
so much. But
>> but I mean they're tough guys. >> Yeah,
>> Yeah,
>> they're tough. What they're doing now
with DOE, you know, DOG, Department of
Government Efficiency,
>> they're pissing off a lot of people. >> Yep.
>> Yep.
>> And then Trump's going to shut down the
Department of Education because it's
Marxist. You know, most school teachers
are Marxist. Good people, but they're
Marxist and they're poor.
>> And so they want to kill Trump and and
Elon now. So, what well we'll we'll get
more into that in a little bit, but what
do you think are the top attributes of a
incredible salesperson like Elon Musk or
Donald Trump? Like what what do you
think that edge is to to be able to sell anything?
anything?
>> Well, it's a skill set. You know what I
mean? Is um the reason I took Zer I
interviewed two companies, this is in
74, long before you were born, was IBM
had good good sales training and so did
Xerox. And then Xerox flew me from
Hawaii to Leburg, Virginia and they lock
you in a room like this and they have
cameras on you and they train you to
sell. So you're pitching the deal, you
know, how to buy a copier or whatever
you're selling
>> and then they would replay the camera.
You did this, you did this, you did
this, you did this. It was unbelievable
training, you know. So when people say,
"How do I get sales skills?" I said,
"Well, one way is join a network
marketing company like Amway or
something like that because they'll
train you to sell." No, I don't want to
sell. I don't want to sell. Well, then
you'll probably be an employee the rest
of your life. >> Yep.
>> Yep.
>> I'm not an entrepreneur.
>> Yep. You taught me that three three main
skills is sales, public speaking, and
capital raising. Yeah. And then you
finished Xerox, you learned how to sell,
and then you started your own company,
which was a nylon
>> core wallet. Yeah. But the thing was I
met the other thing is what makes you
rich are your friends. So you know like
my I met my best friend at Xerox and
this boy could sell. He was a Mormon missionary.
missionary. >> Wow.
>> Wow.
>> And we're uh he's he looks like Richard
Gear, you know, extremely handsome guy.
And he didn't have his MBA. I didn't
have my MBA. So the the guy was
recruiter is hiring us. He says so he
says to me, "You don't have an MBA? What
makes you think you can sell?" I said,
"Hey, I've been driving a helicopter
gunship against uh LA. I got, you know,
people are shooting at me all day long.
I can do that. I can sell." He goes,
"You're hired." He asked my friend
Larry, "What makes you can sell?" He
goes, and Larry was Larry's from Phoenix
and he was assigned to Northern Ireland
and he says, "I have the highest
conversion rate of Catholics to Mormonism
Mormonism
in the Mormon church. If I can convert a
Catholic to M Mormonism, I can sell. So,
you're hired and that's what it takes.
>> Yeah. What how did that shift into
entrepreneurship? Was your first
business that you had the wallet
business? Was that a failure or success?
>> Well, it was we we failed and succeeded.
But, you know, Larry and I became the
best of friends. Uh he just sold his
business for two billion, you know, so
he became a billionaire.
>> My god.
>> Beat me to it. We we we pushed each
other along. You have to have good
friends. And so when we made millions
together, we achieved a million and we
did it through real estate, you know,
not through we had to invest our money
constantly. So we're practicing raising
money, investing in real estate. So we
made million together, but he beat me to
a billion. But your friends are crucial.
So if your friends are all employees, I
don't give you much hope, you know,
because that's who you are. You are
you're you know, you are your friends.
And so that's it's an indicator. And if
you don't like your friends, you better
change, you know,
>> make some changes. Change.
>> Oh, it's so important. I mean, who you
sur that was the biggest shift in me
when my life started to exponentially
improve was
>> everything changes.
>> Yep. Yeah. You're the sum of the You're
the average this what is it? You're the
average of the five people that you
spend the most time with.
>> Well, look who introduces me to you. >> Yeah.
>> Yeah.
>> Joe Polish. I mean, that guy would sell
fish to an Eskimo or something.
He can sell
>> fish to an Eskimo.
>> Yeah, he is amazing. Joe is so talented
and that's I mean that's why I spend all
my time with you and and Joe and stuff
like that.
>> And Joe. Yep. And that type of circle
because it inspire it's so amazing
because when you surround yourself from
people who are grand thinkers, you know,
like you and Donald Trump and Elon Musk
and like I mean and and so much in
between, but real true leaders. It makes
what I've learned is that it allows me
to see how small I'm thinking and I
think I'm thinking big. >> Yes.
>> Yes.
>> But I realize I'm not. And so when I'm
around people like you, I'm like, "Oh my
god, there is so many more levels to
this game." And not just business, but
relationships, spirituality, like every
area of life that you could possibly be
in. There is so many more levels that
you don't know if you're only
surrounding yourself by a peer group
that only thinks to a certain ceiling, >> right?
>> right? >> Yeah.
>> Yeah.
>> When I meet somebody who tells me they
have a 401k and they have job security,
you know, it's fine. You know, not that
I'm not going to be their friend, but we
don't have much in common. You know, I
don't have a 401k, but I don't need the
money either. You know, I create my own
assets. So uh and my friends are all
like that.
>> So that's good. >> Yeah.
>> Yeah.
>> You are your friends. You are what you
spend your time on doing.
>> My friends and I study a lot and then
what you spend your money on.
>> Yeah. Being a constant student of life.
I mean you are always sending me
training, you know, what's going on in
the economy and these insights on
certain this and that and and I'm always
doing it too. every time you call me,
I'm at a conference or a mastermind or a
seminar and we're just a constant
student of life and always learning. And
and you share that about your um your
ESBI quadrant is
>> cash flow quadrant. Yeah.
>> Your cash flow quadrant is everybody
that once you stop learning, you stop
growing. And I think that we're either
growing or we're dying.
>> And not only that is um like recently I
had to let go my company because the
fight we had in the company was they
didn't want to study. I said, "How can
you not study? We don't want to study.
We don't want to study. Just send us our paychecks."
paychecks."
Was gone. I can't go up against that
mindset. You know, I'm not here to force
somebody to be what they're not wanting
to be. But unfortunately, the company
was dying because the internal wasn't growing.
growing.
>> Plus, my wife and I got divorced, which
was that my employees got caught between
that, which is a bad thing. It's toxic.
So, the good thing about we just let
everything go. I just create a whole
another system. I'm making more money.
starting another company and
entrepreneur just starts another
company. It's not like big deal. I don't
have a job, you know. >> Yeah.
>> Yeah.
>> Just start another company.
>> So, I call my team up, start another
company, we're out making more money.
It's fun. It's a game, you know.
>> Yeah. What What were some of the key
lessons you learned from your first
business? And how did you take those
lessons and then make a better business
after that?
>> Well, the reason you must start a
business is you got to learn something.
You make mistakes. And that's what I
don't like about school teachers. They
tell you make mistakes, you're stupid.
>> But how humans learns by making
mistakes. So like a baby learns to walk
by falling down, you know, and if
>> if a baby was in school, the teacher
would stupid kid, stupid kid, you can't walk.
walk.
>> Well, how's the kid going to walk if you
keep punishing him for falling down, you know?
know? >> Yeah.
>> Yeah.
>> And that's what schools do. But that's
the academic mindset. You know, the
people that don't like Trump, they're
employee types. They got good job
security. They got a 401k and they got a
steady paycheck. That's what they want.
Different value. Nothing wrong with it.
Different value system. So my first
business was a nylon and velcro surfer
wallet business. And I actually started
that business at the academy. And the
reason I was at the academy, I was in
school in New York. We would take
leather wallets with us and they'd rock
because we're always in the water. I was
a sailor and rower and all this stuff.
So we used to get old sales, you know,
scrap sales and we'd sew wallets and put
velcro on them. And one day I showed
that to somebody said, "God, I want one
of those." And that's how I started.
>> So we started sewing our own wallets and
all this. And then I placed an order in
Taiwan, you know, for all these wallets
and all this. But then I had to raise
capital to pay for the wallets because
you can't get them in unless you pay for
them. So, I had two partners and they
couldn't raise money. John and Stan,
they couldn't raise money. So, I raised $100,000
$100,000
and Stan ran off with the money. Oh,
>> that was my first business. And I should
have known something. Stan was a weak
man. You know, he was he see Dennis the
menace anymore, but Dennis M's father,
you know, was this skinny scrawny guy
with glasses, you know, but he wasn't a
strong man. And that's why, you know,
I'm very caut against guys want to be
gay or want to dance to hoola, but you
>> got to be strong. >> Yeah.
>> Yeah.
>> And he was so weak. He needed the money
so bad because we're operating without
money. He ran off with it. And I went,
so I had to pay that was $100,000, which
was a lot of money back then. So I had
to pay it all back, pay my investors
back. That was a learning. That was the
biggest mistake. going be careful who
your partners are. It's like it's like a
marriage, you know. Yeah. But your
business partners,
>> if they're weak people, you're in
trouble, too.
>> So, I'm very cognizant of who I invest
with, but what kind of people are they?
>> How do you because that's so important.
And you've really aligned yourself with
some longterm partners and and
adviserss. Um, you know, from Ken Mroy
on the real estate side to Tom Wright on
the CPA and accounting side. How do you
vet? Because I've been through that
multiple times now where I have a lot of
trust or faith or I believe in them or
I'm very clear and I think that they're
going to be the same and then turns out
6 months in when you're already married
and it's too late to to to turn back you
lose it all or you realize who this
person really is. How have you vetted
who your partners are and like what do
you look for in a good business partner
adviser that you're working with? Well,
a lot of it's intuition and sense, you
know, but also the reputation. So, I do
my market research. But another thing is
I ask them what sport they played. So, a
lot of times, you know, a golfer is a an
Esb S's. >> Interesting.
>> Interesting.
>> And I was a rugby player. We're B's,
>> team players. I rode or a team, eightman
team, heavyweight, you know. So, if you
can lead a team, you generally become
the head of the company. So I kind of
what sport did you play? What did you
do? You know, just having a beer,
drinking with them, just like those Vietkong.
Vietkong. >> Yeah.
>> Yeah.
>> You know, what do you guys want? You know,
know,
>> you get a sense of them. So Kenny Mroy
and I, he's the smartest realist. He has
his own podcast, you know, and he wrote
a book called u he has three books out
on real estate,
>> the ABCs,
>> ABCs of real estate and all this. But
our gig when I met him, reason I fell in
love with him. I mean, he's a tiny guy,
you know,
>> he's so fun.
>> He is. He's funny as hell. He says the
job is to not use your money. And so
what we what we so philosophically we
aligned. So what I mean by that we go
for the infinite return. So I showed you
my you know my old age home behind
Tarbells and 32nd in Camelback. My job
is to invest with no money. It's just
you get you get good enough so that you
don't need money in a deal.
>> So a lot of times we'll buy you know
like a 300 unit apartment house. We'll
fix it up, get the net noi up, the net
operating income up, and we get that
high enough, we go back to the bank and
re refinance the building. So, let's say
we have a million dollars in it. We get
the net operating income up, we fix it
up, increase the rents and all this
stuff. NOI is high enough, the banker
will give us our million dollars back.
So, guess what? When that million
dollars comes back to us, we're now
infinite because none of our money is in
it. And not only that, when that money
comes back to us, because it's debt, we
borrowed it off the building, it's
taxfree. I mean, it's just this game,
you know what I mean? And so that's the
better you get, the more we want to play
games. Just be legal, honest, and tell
the truth. You know, that's that's all I ask.
ask.
>> A lot of people cut corners and they do
stupid things.
>> So Kenny and I have most of our
buildings were infinite returns. We have
no money in it. It's pouring cash flow.
And with the cash flow, since it's debt
money, I don't pay tax on it. And then I
uh legally, that's what Tom Wheelright
does. He keeps me out of trouble, out of jail.
jail. >> Yeah.
>> Yeah.
>> And I buy gold, silver, and Bitcoin. So,
I invest in real money. Gold, silver, Bitcoin.
Bitcoin.
>> And I'm that's why I love real estate so
much. I don't I haven't found anything
else out there that has the same tax
strategies and legal loopholes to be
able to re to compound your wealth and
your cash flow with, you know, without
paying tax. It's it's pretty and have
those infinite returns like you talk
about. It's pretty amazing. And um and
then you've found the right partners
where you can do that on a very large
scale, find the good deals, have the
good operations, have the good exit
strategy, whether it's a a refinance or
a 1031 exchange to continue to defer
taxes, and then you can take your money
and then go invest it elsewhere. So
you're not doing all the nitty-gritty
operations of finding these properties
and managing the crews and all that
stuff. Kenny gets to enjoy that part,
right? But
>> well, Kenny, the reason I like Kenny was
his property management. M
>> the hardest thing about real estate is
the management and he's he is one of the
biggest property managers around and
that's his skill set. So I'm looking for
people with different skill sets I don't
have. That's a team sport. And uh it's
it's the other thing too is Tom
Wheelright is my accountant and Kenny
and the rest of my John McGregor and all
that. Every Thursday we study together
>> still. every Thursday morning 7:30. >> Wow.
>> Wow.
>> So, that was kind of blew my company
about because our employees didn't want
to study. I'm going here. We are
multi-millionaires. They're employees.
They don't want to study. I'm going, but
that's a value system. I mean, they're
entitled to their values. Well, I don't
know how you cannot study. So, that's
right. You're always in seminars
>> and I'm always sending you stuff I'm
coming across, right? Yeah.
>> Look at this. Look at this. Look at
this. Because YouTube's just
magnificent. They got got some flakes on
it, but they got some really smart guys
on YouTube, you know. So, we study them.
Like right now, this coming Thursday,
this is April 2025. Next Thursday, we're
going to study uh what Trump's putting
in his tariffs and uh it's really
interesting because the tariffs are
killing China and that's not good. So,
we're talking about are we going to war
next? because that was my background. I
went to military school and I studied
how we get into wars. So, I'm a little
concerned now because I already fought,
you know, in Vietnam. America has lost
every war since Vietnam. We lost we lost
Vietnam. We left Afghanistan. We lost
Iraq and uh Trump must have turned Gaza
into a beach town.
>> Well, so let's talk about that. You
know, there's been a lot of turmoil.
There's a lot of volatility. There's a
lot of um diversion of thinking going on
right now. You know, half the world or
half the country at least is thinking
one thing's going to happen. The other
half is thinking another thing's going
to happen, which is the indicator of a
diverted yield curve, which shows a lot
of confusion uh in the economy. So, you
know, we're there's tariffs and then
there's not tariffs and then there's
pauses and then there's there's some
back and forth going on. And obviously
we've the yield curve inverted a couple
years ago which is usually the indicator
over the next whatever 24 months or
something there's going to be a
recession. You've been warning of the
everything crash for a long time. Yeah.
>> This book here
>> in 2002. Yeah. Talk to us about
>> I said why I said in Rich Dad's Prophecy
which came out in 2002. I said why the
biggest stock market crash in history
was still coming and we've had a lot of
crashes up to then was 2008. But the
thing that's we're talking about driving
over here being a student of history,
the reason there's going to be a war is
it starts with what's called a currency
war. And a currency war is like Japan or
China or America will devalue their
currency. So if I can make the dollar
weaker, I can sell more products to
China and China lowers their value of
their yuan and then they can sell more
products to America. So that's a
currency war. The tariff war is a trade
war. Okay? So he goes, "Currency war,
trade war, kinetic war, shooting war."
And he go, "Oh, how do you know that?"
Well, you look at what happened between
America and England. So England was the
primary power way back in 1700.
So 1773 there was a tariff war was
called the Boston Tea Party. And after
the Boston Tea Party, where America
says, "We're not going to pay your
taxes." 1776 was the revolutionary one.
So, we're on path to do the same thing
again. So, I sit here and I go, that's
why I'm concerned because our, you know,
our military is DEI or DIE, whatever
they call it, there are a bunch of swish
swish buckets up there. We're not ready
to fight. And uh, like I said, when I
when I was in Vietnam, I meet the
Vietnamese. One of the most frightening
things, Hannah, was I was a pilot flying
and we're where there was a DMZ, a
demilitarized zone between North Vietnam
and South Vietnam. And there was a city
called Quang Tree. And we were trying or
doing our best to stop the NVA at Quang
Tree. And to my horror, you know, to
this day, I still can see it. We fought
and fought and fought, but the North
Vietnamese wanted to win more than we
did. So they crossed at Quang Tree
across a demilitarized zone. Our
Vietnamese, the South Vietnamese turned
and ran. And that's why they didn't stop
until they took the embassy in 1975. So
I got in trouble. I'm like, I was a
carrier pilot. You know, the saddest
thing about being a carrier pilot, I
said, "Your friends don't come home.
They get shot down. You don't see them
again." So I'm on the carrier and I
asked my commanding officer, I said,
"Conel, how come their Vietnamese fight
harder than our Vietnamese?" And that's
when I sense I don't I think Americans
are soft, you know. I think the other
guys want to win more than we do because
that's what it comes down to. So I look
at we have a you have a you have a a
currency war, tariff war, shooting war.
>> And are you So right now we're in a
tariff war. Are you are are we also in a
currency war?
>> Yeah. Yeah. Yeah.
>> There's always currency wars. You always
want to devalue your currency so you can
sell more to somebody else.
>> Yeah. Yeah,
>> if you develop you devel you make the
dollar weaker, we can sell more products
to China or Germany. But right now,
Germany is collapsing and Japan's
collapsing. America is the biggest deter
nation in world history and China's
going to kick our butts. So that's I
don't want to say this, but I was in
Okinawa at the Marine Corps Air Station
I was stationed at during Vietnam. And
we went into the room there was a
twostar general there. Said, "Gentlemen,
everything here is confidential."
>> This was just a few weeks ago. Yeah, a
few weeks ago. And uh I'm looking at the
charts. There was Taiwan. They had all
the battle sites ready. And then uh in
Palao, which is the island chain,
America's putting over the earth
satellite, I mean uh radar and runways
for big jets and they've moved marine
battalions up there. So this is now >> Yeah,
>> Yeah,
>> we're preparing for it. What do you
think the repercussions would be to our
daily life in America as entrepreneurs,
investors, and just American citizens if
we go to war?
>> I hate to think. It's because, you know,
even during Vietnam, there was always
what they called a nuclear option. Can
we drop a nuclear bomb on people? And
that's why, you know, everybody's
working to make sure Iran doesn't get
the bomb and all this stuff. So we're
we're a global tension and we're at
tension inside America with the radical
left, you know, those the the Harvard
professors saying screw you to Trump and
all this. So we're at civil war inside
our country and then you have the the
poverty increasing. You know, when you
look at the homelessness, I I still
can't figure it out.
>> How come homelessness is spreading all
over the world? You know, and then they
say it's well because of drugs and
mental illness. True. Well, when I
studied money, when you print money, you
know, the fake US, 1971, Nixon took the
dollar off the gold standard and we
started printing money. When you print
fake money, okay, two things happen. The
rich get richer and the poor middle
class get poor. So, how does that
happen? So, when you print fake money, I
can my gold goes up, my housing goes up,
I have I have oil wells, my price of oil
goes up. But when you print fake money,
chickens go up, food goes up, milk goes
up, eggs go up. So the rich get richer
when you print fake money due to
inflation of the asset. But the poor
middle class get poor because of
inflation of just life support, you
know, food and energy and housing and
just stuff. So I look at America and we
were once the richest country on earth.
Now we're the biggest debtor nation. I
think it's a $37 trillion
plus 250 trillion in offbalance sheet
liabilities like Medicare, Social Security,
Security,
uh pensions and all this. So, we're in
bad shape. So, I wrote this rich dad's
prophecy in 2002 and I said this crash
is still coming is now. It started
today. It's crashing and the crash goes
in the bond market, not the stock
market. So today the Chinese and the
Japanese and people are selling US
treasuries. We're over. We're finished
because the bond market is like 10 or 20
times bigger than the stock market.
>> Why don't they teach this at school? >> Why?
>> Why?
>> Because teachers want to tell you how
boys can be girls and run on the track team.
team.
So before I go on that tangent, so I
mean for somebody wanting to prepare and
you tweet about this too is like if you
think it's going to be a soft landing,
think again because it was probably not
going to be a soft landing. It's
probably going to be a pretty hard
landing. And instead of panicking, you
have to be prepared. So what can we all
do to prepare for I mean you talk about
a possible depression again and we were
just talking about this. The last
depression lasted 25 years. Yeah. So
what do we do to prepare?
>> Well, it's 25 years because the crash
hit in 1929. The stock market was 381,
the Dow.
>> It took till 1954, 20 25 years to get to
381 again. So I'm just going by that.
But that's why I said there's a currency
war, there's a trade war, and a shooting
war. So there's a currency war right
now. And so the US dollar is fake. It's
fake money they printed. Since 1971, it
became the US dollar's debt. That's US
treasuries and savings bonds and all
that garbage. I don't touch it. But
anyway, so I that's why I say buy. Today
the biggest bargain is silver.
>> See, gold went past $3,000
all-time high. Bitcoin, I think, is at $84,000.
$84,000.
And silver is still 60% below its
all-time high. So silver is the biggest
bargain. It's used in every EV. It's
used in solar. It's using electrical.
The tomahawk missiles carry I think five
ounces of silver in it and all this. So
silver is disappearing. Gold stays
around, but silver is being consumed.
And I think it's only about $35 today.
So I think everybody in the world can
afford 35 bucks to buy one silver coin.
But will they do that? No. They'll save
the $35.
So, let's say you had this third, you
have this silver coin that you pay $35
for or you have the $35.
In 10 years, this will be probably $70.
It's going to take 70 of those dollars.
And they call that inflation. It's not
inflation. It's the purchasing power of
your dollars going down. And so, that's
why the poor middle class are get wiped
out. And I'll say it again, why don't
those damn school teachers teach that?
What's wrong with those guys? You know,
that's why Trump is setting shutting
down the Department of Education. I
think it's a good thing.
>> Do you think it's possible to I mean,
you've set out to change the way the
world sees money and you've made a 40 50
million person impact on that, but
education schools still don't teach what
you teach in financial literacy. Do you
think it's possible to to change that?
>> No, because they're Marxists. And
they're not bad people. Don't get me
wrong. My poor dad was Marxist.
>> My rich dad was a capitalist. Again, a
Marxist believes in labor unions. The
workers of the world unite. My poor dad
head the teachers. Marxists believe in
taxation. A graduate income tax is
essential for the spread of communism.
One more thing, what Stalin said is that
it's not who votes that counts, it's who
counts the votes. So, look at it. Look
at Arizona here today at Katie Hobbs.
She was supposed to be watching the
ballots, but she was I think she was
whatever she was, but she got elected.
Nobody she was watching who counted the
votes. And so we're so corrupt now. Then
they use lawfare against you know they
sue him for all this stuff and know our
our Supreme Court is used against us now
and the FBI is corrupt. So something's
really rotten in Denmark. You know what
I mean? It's rotten here. So that's why
I just as a private citizen like I'm
going to protect me first, my family,
but I would save silver first. You know,
a silver coin is 35 bucks.
>> If you can't afford that, you got bigger problems.
problems.
>> So what I haven't checked the stock
market in a few days, but we had a
couple pretty big pullbacks uh pretty
recently. I think what was it down like
20%. Yeah. Over a couple days, which is
pretty pretty big. How I mean, obviously
you're talking about the everything
crash. We're seeing softening of prices
in real estate, especially in the
commercial market among certain asset
classes like office. Um, you know,
multif family has some higher vacancies.
Storage has some higher vacancies, but
different asset classes are are stronger
than others. And of course, it's
regionally specific as well. But gold is
still at all-time highs. Silver you
said, is a good discount. Bitcoin's
pulled back over 20% plus or minus. What
like if we're going to go into a
depression and we're going to continue
to see everything crash, what do you see
as like a timeline for this happening? I
know you can't nobody has a magic ball,
but do you see do you feel like we're
just entering it or do you feel like
things are going to come down a lot more
in pricing or because I've heard some
economists say we're going to come down
a lot more and then I've heard other
people say we're going to be bounced
back and higher by the end of the year.
So where do you fall into your opinion
of if you did have a crystal ball? When
I wrote this book, I was very happy. I
said, you know, when it crashes,
>> you look at the real estate market like
in, you know, the Builtmore Circle,
there's 10 houses for sale. >> Yeah.
>> Yeah.
>> Nothing's moving. So that's good for the
younger generation, but for my
generation of boomers, you know, they
say your house is your biggest asset.
That's the biggest mistake. I say your
house is not an asset in Rich Dad, poor debt.
debt.
>> House is a big liability.
>> So the baby boomers, my generation, in 1974,
1974,
there was an act called Orisa, employee
Employee Retirement Income Security Act
is called the 401k. And so my generation
is the first generation that has a 401k.
My father's generation had a defined um
benefit plan. So the boomers are in
serious trouble. Serious trouble because
you know the stock market's down, let's
say 30%. But gold's up 30%. And why
don't they teach us at school?
>> Because gold is real money. is JP Morgan
says you know gold is money everything
else is debt credit and so this whole
economy worldwide is floating on debt
China's in serious trouble and so that's
why I watched said are we going to
another war America has not won a war
since Vietnam Afghanistan
Ukraine I mean you know that guy Biden
what a criminal he was he was in there
doing deals with the Ukrainians and all
this stuff and you know and Trump I He's
a good friend of mine. He's very
anti-war. You know, he's trying to stop
it right now.
>> Do you think that tariffs are What's
your opinion of the tariffs? Do you
think it's a smart move as fast as
they're implementing them or or no?
>> Well, tariffs attacks and it's it's I
don't know what you know, Donald hasn't
called me, but I look at it and I go,
you see what's happening in China
because of the tariffs. All these
factories shut down. So hundreds of
thousands of people are unemployed plus
their real estate their real estate
markets collapsing in China and their
debts going through the roof. The same
thing's happening in Europe. So this is
the first time in history you have the
three powers like there was Japan was
the major power. Japan is debt to GDP is
I think like almost 200% something like
that. Germany's in serious trouble
because they went green and their
electricity got too expensive. So they
can't produce cars. So their cost of
production went too high because the
greenies, you know, the green new scam
took over and they went liberal kami
pinko and and America, you know, we have
biggest deter nation in the world world
and you know, Biden put that up what
inflation reduction act. It was a
spending bill. He spent more money and
Trump's got Doge. Who's hated? Trump is
hated because he and Musk are trying to
cut down, get that debt down. But Biden
adds it up and all the liberals love
him. And he can be a liberal and all
this stuff. And I know people hate
Trump, but he's this very smart man. You
know, good and I wrote two books together.
together. >> Yeah.
>> Yeah.
>> So he's he's a good man. His kids, his
two boys, Don Jr. and Eric, very good
friends of mine. very very good kids.
You know, like the story I tell, we
we're hunters, so we've hunted together
on this private island in Hawaii.
There's no running water, no toilets.
And you get to know some guys pretty
closely. We sleeping on the bug sands
and all this stuff. We have to eat what
we kill. They don't nothing. They don't
they don't they don't cry. They don't
whimper and all this stuff.
>> We're hunting in upstate New York and
went past this little restaurant and we
walked in and there was a little
roadside stand. The thing was full of
illegals in the uh D, you know, washing
dishes and all this. Both Don and Eric
went in the back and shook all their
heads. They're good young men. >> Yeah.
>> Yeah.
>> You look at Hunter Biden. The FBI loses
his laptop and he he has to get a pardon
from his father. What kind of family was
the Biden family? And look at Kamla. Oh
my god. >> Yeah.
>> Yeah.
>> The borders are never got to the border.
You know, they open Trump put a wall up.
Biden took it down. Illegal streamed across.
across.
>> Yeah, that's another thing. You know, I
we do flips and stuff. My best friend's
a big flipper in town and she said, "Oh,
like I haven't heard from, you know, so
and so from her crew." And then she
found out that they're getting deported.
So, um it's just another another layer
of volatility, I guess, if we're having
uh tariffs and the the price of
construction going up and then if our
labor cost goes up. Think overall in the
long term I'm sure there's a good plan
that's far above my pay grade of how I
understand how it all works but there's
there's a lot of disruption in the the
interim because there's a lot of change
happening and yeah so how do people best
if how do people best prepare for the
opportunities that are coming in the
market as far as these discounts on real
estate these discounts on Bitcoin and
stocks and um you know how do we proceed
with caution? My audience is
entrepreneurs, real estate investors.
Some of them are complete entrepreneurs,
some of them are solo solarreneurs, some
of them are high level doctors or
executives that invest in real estate.
How do you recommend they prepare to
take advantage of the opportunities in
today's market? Um, and you know,
proceed with caution, but don't be
fearful and miss out on the opportunity.
Because we were just over here driving
over here, and you're like, most people
can't sleep because they're losing
money. I can't sleep because I'm so
excited, right? So excited. So yeah,
what's your advice on that on how to
best take advantage of the opportunities
in the market?
>> Well, number one, figure out who you
are. If you're an employee, you know,
your selft talk is going, I need job
secured. I need a steady paycheck and
all that. It's a trap. If you're an S,
you know, E Self-employed,
your your mantra is you want it done
right, do it by yourself. on the B side,
which is big business, 500 employees or
more. And I stands for insider. I'm an
insider. So, I had to make a decision
when I was getting out of the Marine
Corps. I wanted to go on the B and the
eye side. My mom and dad want to be ENS.
So, you've got to decide what you want
to be when you grow up, you know.
>> But the other thing, too, is who you
take advice from. You know, I was
blessed. I had a poor dad. I had a rich
dad. One's a Marxist, one's a
capitalist. Good men. But my rich dad
was telling me what I had to study. And
my rich my poor dad was also get your
PhD and fly for United Airlines. And
then my rich dad was teaching me how not
to pay taxes. And my rich my poor dad
saying well you got to pay taxes. Then
he'd also say well the rich are stealing
from the poor. I said it's not true. You
know who's stealing from the poor are
guys like Obama? Biden.
>> You know what Obama did? He pushed
through that student loan program. And I
was I was so p Obama's in Hawaii, you
know, was so pissed when they did that
because the student loan program is
meant for poor kids. See, the rich kids
like my friends like Kenny's kids and
all, they go to the college, the parents
pay for them. But if you're a poor
middle class kid, they're right now
student loan debts $1.6 trillion. Okay?
Now, doesn't sound like much, but if you
if you paid back a dollar a minute, it
would take you 32,000 years to pay off a
trillion dollars.
>> Oh my god.
>> So, these kids are coming out now. The
poor kids are 1.6 trillion in debt. And
it's the worst kind of debt because you
can't bankrupt out of it.
>> It's nonforgivable debt. Plus, it's got
a high interest rate and it accumulates.
It goes retroactive. So Obama basically
effed the poor kids from poor families
and they all get a college degree. Now
why did Obama do that? Because the
teachers union wants to make more money.
So Harvard, Stanford and all that. If we
get student loan debt, we can charge
more money to the kids. They're the
biggest. I'm not a Republican or
Democrat, but I watch what a person does
more than what they say. Again, you
know, Trump put a wall up, Biden takes
it down. You know, Obama puts kids in
student loan debt. The other thing that
Obama started was DEI, diversity,
equity, inclusion. The reason he did
that because he's a black guy and they
actually came out with u what do you
call that? Affirmative action in the
60s. And so when they when when he got elected,
elected,
there's not that many black people. I
mean, there's there plenty, but there's
not that. So Obama created DEI,
diversity, equity, inclusion, so that
they could include more people. So if
you were from Venezuela and you crossed
the border illegally said, "Oh, you're
oppressed by the white guys, you know."
So they needed to increase their
numbers. So it couldn't just be for
blacks. It had to be somebody who was
nonwhite male. That's Marxism. That's
pure. You create victims in a class
structure. That's pure Marxism. So I
studied Marxism at the academy. I'm
going, "Wow." So why don't our school
teach us this? Why don't they why don't
they read the communist manifesto? You
know, why don't we study money? But we
we we teach Keynesian economics in
school and Keynesian is pretty close to Marxist.
Marxist.
>> But they don't teach that because our
school teachers are Marxists. >> Yeah.
>> Yeah.
>> At the heart.
>> Abolition of private property. The rich
rip people off. You know the boogeoisi
and the proletariat. The boogeoisi of
the capitalists. Proletariat and working
class. So they create victims out there.
>> Do you think it's for the next
generation, for millennials and Gen Z
out there? I think there's even another
generation now. Do you think it's and
with AI and all the different technology
that's coming out, do you think it's a
waste of time to go to traditional
school? And do you think it should be
better to be self-taught in
entrepreneurship and or what what's your
stance on that?
>> Well, it depends on what you want to
learn. like if if I want to fly for the
airlines, you know, good way good way to
do that is go fly for the military. >> Mhm.
>> Mhm.
>> You know, and if you're going to be a
doctor, well, then you should study
chemistry and all those other things.
So, it depends on what your ambitions
are. But what's happening to young kids
today, they they come out with this a
degree in uh homosexual tendencies or
whatever it is, and they got student
loan debt, and nobody wants to hire them
because they're not worth anything.
They've studied a subject that's not
valuable. Mhm.
>> So, so many kids are going to school,
learning a subject that nobody values.
There's no use for it.
>> You know what I mean?
>> And then you're loaded with debt and you
go, "Well, I have a college degree.
What's it in?" Well, it's underwater
basket weaving. Well, that's really
important. You know, so again, it goes
to skill sets. What skills do you want?
What experience you want? And who are
your teachers? Those are the main
things. I was in Sunday school and I was
like seven years old. The teacher asked,
you know, she goes, "Why were the wise
men wise?" And I raised my hand. And I
said, "Because they are rich." She goes,
"Oh, no." Cuz you know, church, they
hate rich guys. >> Yeah.
>> Yeah.
>> The Methodist church. Oh, God. But
anyway, she says, "Why do you say they
are rich?" I said, "When they when they
came to see Jesus, they came with gold.
That's rich. Expensive frankincense and
myrr. That stuff's expensive." And my
little school teacher looked at me. She
goes, "It's not it." But she had a good
answer. She said, "Why were they rich?"
She says, "They sought the best
teacher." And so I'm not pumping
Christianity. You know, you can study
Buddhism and Hinduism, what you want,
but they're are looking for Christ. And
so that's what I like about YouTube.
There's a lot of flakes on the thing,
but there's some really smart people on
YouTube and they teach for free. So all
this DEI woke crap and all this stuff
and victim and white guys are the
problem. That's the biggest crap.
YouTube's free.
>> Yeah. It's amazing. And that's why I do
the show because I wanted something like
this. I wish I had something like this
growing up
>> to share yours.
>> Yep. And it's it's amazing. I mean, all
I had your book, thank God, but I can't
imagine being raised even before that
when we had such li limited resources.
Like you probably didn't have a lot of
resources to learn a bunch of different
topics pretty quickly other than books, right?
right? >> No, I al I had mentors.
>> No, I al I had mentors. >> Yeah.
>> Yeah. >> I've had a number of rich dads. So,
>> I've had a number of rich dads. So, first was my rich dad. Then I wanted to
first was my rich dad. Then I wanted to learn how to take companies public. Like
learn how to take companies public. Like I don't own shops. I don't own stocks,
I don't own shops. I don't own stocks, >> but I sell stocks. So, I've taken three
>> but I sell stocks. So, I've taken three companies public now through IPOs. So, I
companies public now through IPOs. So, I took a company public on Toronto Stock
took a company public on Toronto Stock Exchange and then uh NASDAQ and then New
Exchange and then uh NASDAQ and then New York Stock Exchange.
York Stock Exchange. >> Wow.
>> Wow. >> So, your goals change as a B in the eye,
>> So, your goals change as a B in the eye, ESBI.
ESBI. I said, what do you want to do with your
I said, what do you want to do with your life? I said, I want to take companies
life? I said, I want to take companies public through an IPO. That's what Musk
public through an IPO. That's what Musk does and all that. You know, Musk
does and all that. You know, Musk borrowed all that money. He already paid
borrowed all that money. He already paid all that money back and they're
all that money back and they're attacking him because he borrowed all
attacking him because he borrowed all this money from the government. He's
this money from the government. He's already paid it back with interest.
already paid it back with interest. >> Mhm.
>> Mhm. >> And so our academics is the they're the
>> And so our academics is the they're the worst people. My poor dad used to have
worst people. My poor dad used to have labor union meetings, teachers union
labor union meetings, teachers union meetings at our house. I go I want to
meetings at our house. I go I want to puke. They didn't talk about quality
puke. They didn't talk about quality education. The teachers were bitching
education. The teachers were bitching that they didn't get paid enough. They
that they didn't get paid enough. They wanted more time off and benefits.
wanted more time off and benefits. >> That's what they wanted. It wasn't about
>> That's what they wanted. It wasn't about education.
education. >> What companies have you taken public?
>> What companies have you taken public? >> All gold companies.
>> All gold companies. >> Gold companies.
>> Gold companies. >> Well, next one's going to be um Oh, is
>> Well, next one's going to be um Oh, is it can't remember the name of it now,
it can't remember the name of it now, but it's a for the EVs. It's it's a uh
but it's a for the EVs. It's it's a uh it's another mineral.
it's another mineral. >> Mh.
>> Mh. >> And you know, I I I also invest in
>> And you know, I I I also invest in cattle. I can see, touch and feel
cattle. I can see, touch and feel cattle. I don't want stocks. I sell
cattle. I don't want stocks. I sell stocks, but I own the company. I'm a
stocks, but I own the company. I'm a selling shareholder
selling shareholder >> and I own oil wells. I want commodities,
>> and I own oil wells. I want commodities, you know, stuff that are real. But it's
you know, stuff that are real. But it's over time I just so, you know, I find a
over time I just so, you know, I find a I find friends like my friends in the
I find friends like my friends in the woo cattle business. I said, "Why? Why
woo cattle business. I said, "Why? Why goo cattle?" He says, "Because rich
goo cattle?" He says, "Because rich people buy it."
people buy it." >> You say, "No matter how bad the economy
>> You say, "No matter how bad the economy gets, the rich will always have money."
gets, the rich will always have money." >> Yeah.
>> Yeah. >> So I said, "Why? Why goo?" He says,
>> So I said, "Why? Why goo?" He says, "Well, it's expensive. It's a good But
"Well, it's expensive. It's a good But he doesn't kill the cattle."
he doesn't kill the cattle." >> What does he do? He just raises them and
>> What does he do? He just raises them and sells them. He gets the balls and he
sells them. He gets the balls and he sells her semen.
sells her semen. >> Oh, nice. Yeah, it's like a stud
>> Oh, nice. Yeah, it's like a stud service. That's common in the horse
service. That's common in the horse business.
business. >> Yeah. I want to do the same thing. I
>> Yeah. I want to do the same thing. I want to be a stud, you know.
want to be a stud, you know. >> Yeah. Sell your seat.
>> Yeah. Sell your seat. >> So, there's so many ways you can make
>> So, there's so many ways you can make money as capitalist. But when they say,
money as capitalist. But when they say, you know, go to school, get a job, and
you know, go to school, get a job, and invest in the stock market in stocks,
invest in the stock market in stocks, bonds, mutual funds, and ETFs. And I
bonds, mutual funds, and ETFs. And I don't save dollars. I save gold, silver,
don't save dollars. I save gold, silver, Bitcoin. So in these companies that
Bitcoin. So in these companies that you're taking public or you're invested
you're taking public or you're invested in on the you're selling shares, you're
in on the you're selling shares, you're an owner of the company. Are you getting
an owner of the company. Are you getting in like preipo into these opportunities?
in like preipo into these opportunities? >> I'm the I stands for insider. ESBI.
>> I'm the I stands for insider. ESBI. >> I'm an insider at all my with Kenny's
>> I'm an insider at all my with Kenny's deals. Ken Mroy, I'm an insider. If you
deals. Ken Mroy, I'm an insider. If you buy a stock, bought a mutual fund,
buy a stock, bought a mutual fund, you're an outsider.
you're an outsider. >> Yeah.
>> Yeah. >> Not for me.
>> Not for me. >> Yeah.
>> Yeah. >> I'm a capitalist.
>> I'm a capitalist. >> Well, and you do it the right way
>> Well, and you do it the right way because you're an insider. You get the
because you're an insider. You get the best opportunities. You get the first
best opportunities. You get the first look. You get the lion share. And you
look. You get the lion share. And you don't have to operate. It's
don't have to operate. It's >> But you also take the biggest risk, you
>> But you also take the biggest risk, you know.
know. >> Yeah. Yeah.
>> Yeah. Yeah. >> But again, I'm invited in there because
>> But again, I'm invited in there because I can raise capital.
I can raise capital. >> Yeah.
>> Yeah. >> You know, they they wouldn't invite my
>> You know, they they wouldn't invite my employees in there because they can't do
employees in there because they can't do anything. And if I have a have a
anything. And if I have a have a master's degree in underwater basket
master's degree in underwater basket reeving, they don't need you.
reeving, they don't need you. >> But but I got a master's degree. He
>> But but I got a master's degree. He said, "Then what?" So I tell most young
said, "Then what?" So I tell most young people, take a course in bookkeeping.
people, take a course in bookkeeping. You know, go to the local junior college
You know, go to the local junior college or something. take up a course in
or something. take up a course in bookkeeping because you got to keep your
bookkeeping because you got to keep your numbers in order. Not that hard.
numbers in order. Not that hard. >> Yeah. So, let's talk about debt.
>> Yeah. So, let's talk about debt. Obviously, I have a lending company.
Obviously, I have a lending company. Yes. Um for real estate and uh a fund
Yes. Um for real estate and uh a fund that I haven't officially really started
that I haven't officially really started growing or anything, but I have the fund
growing or anything, but I have the fund filed with the SEC. So, you always talk
filed with the SEC. So, you always talk about how much debt are you in?
about how much debt are you in? >> 1.2 bill $1.2 billion dollars in debt.
>> 1.2 bill $1.2 billion dollars in debt. And why?
And why? >> Because debt is money. You know, my my
>> Because debt is money. You know, my my rich dad used to say to me, he says, you
rich dad used to say to me, he says, you know, my poor dad always says, get out
know, my poor dad always says, get out of debt. Dave Ramsey says, get out of
of debt. Dave Ramsey says, get out of debt. My rich dad says, only lazy people
debt. My rich dad says, only lazy people use their own money. Your job is to
use their own money. Your job is to borrow money. And the other thing is
borrow money. And the other thing is that real estate, the purpose of buying
that real estate, the purpose of buying real estate. The purpose of being an
real estate. The purpose of being an entrepreneur is to buy the real estate.
entrepreneur is to buy the real estate. So that's why I have a I have Rich Dad
So that's why I have a I have Rich Dad as a company. I have other companies,
as a company. I have other companies, but we're always buying real estate
but we're always buying real estate because we use debt and we pay no tax
because we use debt and we pay no tax legally.
legally. >> Yeah. That's what Tom Wright. Taxfree
>> Yeah. That's what Tom Wright. Taxfree wealth. Taxree wealth. Tom Wright. Get
wealth. Taxree wealth. Tom Wright. Get the book.
the book. >> Uh I actually talked to his team a
>> Uh I actually talked to his team a couple weeks ago about my taxes. Yeah.
couple weeks ago about my taxes. Yeah. They're they're awesome.
>> Mind, spirit, you know. Thank you. >> It's beautiful.
>> It's beautiful. >> Congratulations on your success. I'm
>> Congratulations on your success. I'm proud of you.
proud of you. >> Thank you, Robert. I appreciate you. I'm
>> Thank you, Robert. I appreciate you. I'm proud of you back.
proud of you back. >> Thank you.
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