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Gary Edwards

Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money | Silver Monthly - The Silv... - 0 views

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silvermonthly robert-kiyosaki federal-reserve inflation-conspiracy banksters

shared by Gary Edwards on 13 May 10 - Cached
  • he makes it very clear that the rules of money changed dramatically when the U.S. went off the gold standard in 1971.  For up until that time, “technically, prior to 1971, the U.S. dollar was a derivative of gold.  After 1971, the U.S. dollar became a derivative of debt.”
  • The Invisible Bank Robbery
  • He says “since money is invisible, a derivative of debt, bank robberies by bankers have become invisible.” 
  • ...15 more annotations...
  • Two ways these invisible robberies occur are:  fractional reserve banking, which is nothing more than banks lending money they don’t have; and deposit insurance, which “protects the bankers – not savers.” 
  • “why should an insurance company like AIG receive bailout money in the first place?  Isn’t bailout money reserved for banks?”
  • “because it owed the biggest banks in the world a lot of money and didn’t have the cash to pay up.”
  • five new rules
  • money is knowledge; learn how to use debt;
  • learn to control cash flow;
  • prepare for bad times and you will only know good times;
  • and the need for speed. 
  • The name of the game, according to Kiyosaki, is “cash flow.”
  • The focus has to be on cash flow, not on capital gains.
  • Businesses that provide passive cash flow. Income-producing real estate. Paper assets – stocks, bonds, savings, annuities, insurance and mutual funds. Commodities – gold, silver, oil, platinum, etc.
  • invest in four basic areas:
  • By selling more than you buy, you can eventually become rich.
  • in Kiyosaki’s opinion, the ultimate definition of “sell” is building a business and then taking it public.
  • “knowledge is the new money.”
  • Gary Edwards on 13 May 10
     
    As Kiyosaki writes in his book:  "So has there been a conspiracy?  I believe so, in a way."  He goes on to explain why he believes so, citing the lack of financial education in the school systems, the Federal Reserve Act, and Nixon's 1971 dismissal of the gold standard.  And most interestingly, Kiyosaki believes that 401(k) retirement vehicles placed the retirement money of average people in the hands of Wall Street. The first chapter of the book is entitled 'Can Obama Save the World?'  Kiyosaki's answer is no.  And apparently, Obama doesn't want to even if he could.  For he appointed Summers and Geithner, both of who played a part in repealing the Glass Steagall Act.  In other words, it's the same old same old.  Nothing has changed.  Which means that the average person needs to understand how taxes, debt, inflation, and retirement affect them.  Kiyosaki sums up the chapter by stating that once one understands the new rules of money, then one can "opt out of the conspiracy of the rich." From there, Kiyosaki moves on to explain how we got where we are.  He points the finger at the Federal Reserve Bank, which inflates the money supply, which destroys the value of savings and retirement plans.  And he makes it very clear that the rules of money changed dramatically when the U.S. went off the gold standard in 1971.  For up until that time, "technically, prior to 1971, the U.S. dollar was a derivative of gold.  After 1971, the U.S. dollar became a derivative of debt." Kiyosaki proceeds to discuss what he calls 'The Invisible Bank Robbery.'  He says "since money is invisible, a derivative of debt, bank robberies by bankers have become invisible."  Two ways these invisible robberies occur are:  fractional reserve banking, which is nothing more than banks lending money they don't have; and deposit insurance, which "protects the bankers - not savers."  Then he asks a very pertinent question:  "why should an ins
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