Rich Dad Radio Show, Released on 5/24/23
In this emergency podcast episode, Robert Kiyosaki and Andy Schectman discuss the potential risks of having money in regional banks. They explain that national banks are considered “too big to fail” and are backstopped by the federal reserve, while regional banks are not guaranteed to be bailed out in the event of a failure. The hosts emphasize the importance of understanding where your money is held and the potential risks involved and suggest investing in tangible assets like gold and silver coins to protect one’s finances. They also discuss the possibility of hyperinflation and the need for interest rates to spike to compensate for inflation.
Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals. Prior to starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments. At Miles Franklin Ltd., a company that has eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, and ethical behavior, superior customer service and satisfaction to better serve their clients. He is responsible for overseeing the firm’s operations and business functions; including strategy and planning, account management, finance, and new business.
Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time. His book titles hold four of the top ten spots on Nielsen Bookscan List’s Life-to-Date Sales from 2001-2008 alone. Robert is an educational Entrepreneur and real estate tycoon, co-creator of the CASHFLOW® board game, founder of the financial education-based Rich Dad Company and author of New York Times Bestsellers: Rich Dad’s Conspiracy of the Rich, and Unfair Advantage: The Power of Financial Education. Robert Kiyosaki is among the first to have warned Americans of an impending collapse in the US real estate market, famously prophesizing, “Your home is not an investment,” years before the Panic of 2008. His latest book is Capitalist Manifesto.
Is your money still safe in banks? – Robert Kiyosaki, Andy Schectman added by Herman James on
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Silver price on the COMEX has decreased more than 12% in the last 3 weeks. Precious metal dealers have also decreased their prices. Yes, this is a buying opportunity, I guess . . . that has been the continual mantra for years every time silver prices got hammered in the market place. So the story now is that precious metals are not an investment, but a way to preserve your capitol. However, if you are an old stacker, who is at the point where you need to cash some of your silver in, so you can help family members and pay medical bills, these “buying opportunities” are certainly not selling opportunities, just another reminder that the long-promised price increases have never really arrived.