"Rich Dad Poor Dad" predicts middle class will be wiped out in currency crash

[Brent H]

I just found an interesting video: http://goldismoney.info/forums/showthread.php?t=241771

Some of Robert Kiyosaki's predictions:

• The middle and lower classes in the U.S. are going to get wiped out in a currency collapse.
• A day is coming in which 500 oz. of silver will buy you a house. Right now 500 oz. of silver costs about 10K.

[AceNZ]

Wasn't Kiyosaki totally discredited, with his made-up "rich dad", etc? Does anyone still pay attention to him?

[icon124]

Wasn't Kiyosaki totally discredited, with his made-up "rich dad", etc? Does anyone still pay attention to him?

you know I heard about that...but at the same time you can't deny that he makes sense in Rich Dad Poor Dad...well at least he gets you looking at your financial ways

[Cowlesy]

Kioysaki if you read all his stuff would basically tell you every asset class is great and every asset class sucks.

I am NOT a fan of him.

[AceNZ]

you know I heard about that...but at the same time you can't deny that he makes sense in Rich Dad Poor Dad...well at least he gets you looking at your financial ways

I guess I'm just not inclined to listen to financial advice from a guy who made most of his money selling books; especially ones that were based on a lie. Most of what he has to say seems to be based more on opinion than anything else. I prefer to listen to people like Warren Buffett and Jim Rogers who got rich by actually doing the things they're advising.

OTOH, maybe he has a documented history now of investment advice or economic predictions that have done extremely well. He's certainly been at it long enough that he should have such a thing by now if he knew what he was doing. I don't follow him, so that's entirely possible...

[Cowlesy]

I guess I'm just not inclined to listen to financial advice from a guy who made most of his money selling books; especially ones that were based on a lie. Most of what he has to say seems to be based more on opinion than anything else. I prefer to listen to people like Warren Buffett and Jim Rogers who got rich by actually doing the things they're advising.

OTOH, maybe he has a documented history now of investment advice or economic predictions that have done extremely well. He's certainly been at it long enough that he should have such a thing by now if he knew what he was doing. I don't follow him, so that's entirely possible...

Two investors who've been talking the same game (though different games) as far as I've researched them.

Buffett -- invest in what you know.

Rogers -- The Fed should be abolished. Supply & Demand is what truly counts.

[icon124]

This is all true, but he did bring light to the ratrace...and honestly he was the first person that ever really made me think about that...I was 19 though when I first read his book, so I was still fresh and didn't know anything lol...Yeah I don't like him to much, because he does make all of his money off of books and classes...but you know someone has to appeal to the mainstream...

[Paulitician]

I don't care too much about what Robert Kiyosaki has to say or his advice, but his gold/silver expert Mike Maloney has some good insights.

Here are some people he's interviewed:

Ron Paul

James Turk

Dave Morgan

Jason Hommel

Marc Faber

Bill Murphy

And here's him being interviewed about political, historic and economic issues:

http://video.google.com/videoplay?do...37054439785142

It's good stuff. If you have time to kill you should watch all these vids. Of course, if you've heard these guys before you probably already know what they have to say.

Oh, and BTW, the middle class being wiped out isn't all that unpredictable. It's been slowly happening for like a century. A hyperinflation might seal the deal though. Who knows.

[AceNZ]

Oh, and BTW, the middle class being wiped out isn't all that unpredictable. It's been slowly happening for like a century.

Ages ago, Karl Marx actually proposed a progressive income tax system coupled with inflation as a specific mechanism for wiping out the middle class. The masses think they're robbing the rich, so they're happy at first. Then inflation pushes everyone's incomes into the higher brackets, and they get robbed as well.

When the democrats get in and raise the top tier tax rates, the final stage will be set. Socialism at work!

[sirellyn]

I have to say I like Robert Kiyosaki's stuff. At least as an early primer. A few of his ideas help change the fundamental bad habits that I had (and it seems most other people have.)

1.) Do your finances every month. - Simply doing your income and expenses may be something that seems obvious here, but so many people don't do it. Everyone figures they approximately know well enough what is going on. And thats good enough. - What a mistake that is...

2.) Using his definitions of assets - Assets are things that just sit on their own and earn you money. While it's definitely inaccurate, it made me think about what kinds of things I should invest in a lot better.

3.) Using those two above items to track if you are rich, middle class, or poor. - Again it's oversimplified, but another one of the things that got me spending and saving properly were the ideas that; You won't be earning money unless your net income is positive. And you'll never earn more money unless you re-invest that positive surplus back into what he defines as assets.

Just a good explanation of how the rich get richer, and the poor get poorer. (And how the middle class buys too much junk and then gets poorer.)

For the average person that doesn't invest or even track their money, these are important lessons to learn. Others teach it, but he has the best way of introducing people to it I've seen.

Just my two bits.

[Dark Aerow]

OTOH, maybe he has a documented history now of investment advice or economic predictions that have done extremely well. He's certainly been at it long enough that he should have such a thing by now if he knew what he was doing. I don't follow him, so that's entirely possible...

CORRECT.

He made a book with Donald Trump "Why We Want You to Be RICH"

In the book they do an excellent job explaining the current state of the world. Everything from Fiat currency to real money. They understand it all. I'd listen to them. He really does know his stuff.

I just read their book this week, top quality. These guys both have a firm understanding of the world, it was an amazing read. Highly recomended.