Why the Boomer Generation Is About to Go Bust – Robert Kiyosaki

In this interview with Jeremy Szafron, Anchor at Kitco News, renowned author and financial expert Robert Kiyosaki delivers a compelling analysis of the current economic landscape. From discussing the potential crash of the stock market to addressing the looming financial crisis facing the baby boomer generation, Kiyosaki provides invaluable insights. He explores a range of topics including the future of commodities, the implications of geopolitical tensions, and his stance on gold, silver, and Bitcoin in the evolving economic climate. Tune in for Kiyosaki’s candid views and predictions that could shape your financial decisions.

VRIC coverage is sponsored by Snowline Gold —

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00:00 – Introduction & Background on Investing in Vancouver
01:23 – Key Factors in Choosing Mining Investments
02:06 – Challenges & Lessons from Past Mining Ventures
04:15 – The Shift in Retirement Planning Post-1974
05:42 – Investing Strategy: Gold, Silver, Bitcoin
07:01 – Bitcoin Market Analysis and Outlook
08:44 – Relationship Between Bitcoin, Gold, and the Market
10:39 – Outlook on Bitcoin’s Market Performance
12:06 – Trends in the Precious Metals Market
14:03 – Gold’s Future Prospects and Central Bank Purchases

#miningstocks #richdadpoordad #kiyosaki #gold #silvermarket #bitcoin #crypto #economy #debt #babyboomers #silvermarket #globaleconomics
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Kitco News special coverage of the Vancouver resource investment conference is brought to you by snowline Gold hey everyone I’m Jeremy saffron welcome to kco News live on location here at the Vancouver resource investment conference in beautiful British Columbia where we’re joined by our first guest one that is no stranger to the Kito audience no stranger to me too Robert kisaki of course author of

Rich dead poor dead and just an overall character thanks for coming on man I love this place I love I love what you guys are doing I appreciate this Robert I mean you and I were talking a little bit off camera before you’re no stranger to this conference uh give our audience

A little bit of a background as why you choose to do deals in Vancouver the way that you have over the years that’s a tough question to answer but all of these vendors out here they’re those startup entrepreneurs yeah and over 30 years ago I was one of those little

Startup minor guys standing there begging for dollars and so I come here and I look at them and I’ve I’ve struck gold I’ve struck silver I own the mines now I’ve taken them public and uh I feel for these guys you know there just like the startup startup capital for minor

Totally yeah and I mean it’s being more and more difficult to get access to that Capital it seems I’m curious when you walk around a show like this and you’re looking at these Juniors you’re looking at these startup entrepreneurs who what are you looking for in terms of du

Diligence when you find something to invest in give break breakdown as to what you’re looking for and how you think that’s going be a winner well I was looking for the The Miner right not the mine know and I remember I was standing out there like this young

Probably about by your age you know pitching these deals and they they used to say a liar is a minor standing next to a hole in the ground you know and I’m there trying to promise you that hole in the ground has gold or silver or

Platinum in it and all this for sure but it’s a tough thing but it’s character yeah and I we run into a lot of characters out here in Vancouver good and bad yeah so I feel for these guys I was one of them that’s a long ago

Totally and when you’re looking at say investing in a mining operation is it mostly the team after all these years you figured it out it’s mostly the team huh it’s the team yeah exactly Money Follows management so once you get mean I failed twice right I started a mine in

Dalan China okay and it was successful we took it public on Toronto Stock Exchange and the Chinese nationalized it so today China says we have the biggest gold man in the world said yeah it used to be mine so I don’t eat Chinese food anymore that’s it that’s it for you

You’ve changed so over the years I mean we’re talking about a 1997 you Rich Dad Poor Dad came out it’s been a moment it’s still number one on in the world and in how many languages I mean you’re hundreds of languages it’s wild um when

You look at when you wrote that to now how has that advice changed or is it fundamentally the same it’s basically fundamental investing yeah you know income expense asset liability state ments of cash flow things that I’ll teach you at school yeah you know schools are teach you should you be a

Boy or should you be a girl I mean what the hell is our school teaching kids these days totally not about this conference that’s for certain are they okay so when you’re looking at these types of issuers out there and you’re starting to think about the future I

Mean you’ve heard a lot of people on the stage today 2024 year of Commodities do you think that’s the case as well yes definitely especially silver you know this is a 64 silver coin and’ 64 they pull silver out of coinage M and in uh

80 70 71 okay they they pulled gold out of dollars see so it’s all fake money right now so the whole economy is running on debt right and America is now the biggest de nation in the world the number one asset for America today is student loan debt Obama did that one

He’s in debted the Youth of our nation just to pay our military fees right right okay well then let’s get a little bit more into this I mean we were talking about baby boomers and people carrying debt in terms of you know personal finances are you worried about

2024 for the United States population I mean around the world we have debt crisises going on where are we right now what we’re talking about before this thing was in 74 I was getting out of the Marine Corps I I flew for the US Marine

Corps in Vietnam two tours and uh when I came back in 74 Congress passed an act the US Congress Arissa Employee Retirement income Security Act it led to the 401K the IRA and rrsp in Canada the boomers are the 75 million American Boomers were the first generation without retirement plans right and so

What I’m saying to people you can look at the war in Ukraine you can look at China you can look at the debt but we have 75 million American Bailey Boomers who about to go broke yeah because 90% of them are in the stock market the S&P

500 they watch what the FED does I don’t give a credit what the FED does they’re watching this when that stock S&P crashes you’re going to have homeless Boomers everywhere so that’s why I say to people it’s is little things that 74 just changed that from you have a

Pension you don’t have a pension and my generation is the first generation without a pension and I wrote a book called who stole my pension and uh that’s how Wall Street gets r right I don’t like Wall Street either yeah I hear you I like I like I

Like the hard stuff the hard stuff so then is that the advice going to the Boomers now where do you put your money where what is the plans how do you advise I’m a broken record gold silver Bitcoin no ETFs no ETF anything somebody can print I don’t want to touch it I

Don’t like dollars I don’t like bonds I like the hard asset okay let’s switch over to the hard ass said I mean recently on Twitter you were talking about the fact that obviously you’re a Bitcoin Advocate you’ve had some Bitcoin out there and just recently the ETFs

Were launched the spot Bitcoin ETFs I’m curious with the inflow and looking at how the maturity of that Market’s going where are we at with crypto less volatile more mature money coming in no I’m I’m going to make a fortune up I only have 66 Bitcoin correct it’s not

Many you know but when they opened up the market to the ETF now tons of retirement money goes into I again it’s retirement money it’s going to pour in which will jump crypto and they’re estimating Bitcoin at 500 you know th000 all that stuff I don’t pay attention to

It okay I just say to people how many actual coins do you have so I have 66 big deal right but it’s plenty totally yeah and the volatility doesn’t worry you at all especially when these inflows are coming in yes okay has that changed it it’s supply and demand so Supply

Stays 21 million demand just went up so what about for people at home that say want a little bit of exposure into the Bitcoin community and that’s why they’re looking at a Bitcoin ETF uh your advice maybe don’t look there I mean no it’s

It’s up to you you know I I just don’t like paper yeah makes sense I’m hard that’s said I was one of these guys standing out here pitching a a shanky gold deal that the Chinese took from me yeah you know not the best not the best

Financial advisory ever I had let’s talk a little bit about when you do advise companies uh what are the themes that companies are looking for right now in terms of gold and silver miners those that are actually successful going out and grabbing the resources uh what are

They going to be looking for in 2024 in terms of you know some massive events that are should take place well i’ like to make sure the mines just about ready to go public right it’s like I took one mind public on Toronto one on VSC one

Vancouver then took it to migrated to Toronto but my last M went public on New York Stock Exchange so I may I may down play paper but it’s my paper and I’m very happy with it so when you’re talking to these miners I want to find

Out what their exit is how fast are you going to go public and if I don’t think they have a team they can take it public amount yeah so that liquidity you’re trying to find that liquidity in private placements that event and is it usually

You find I mean we’re at 2024 now it’s very interesting year we have retail investor not really purchasing stocks right now I mean there’s a capital liquidity crisis happening in the sector talk to me about why a year like this would be so important CU it could really change Commodities because of smart

Money is in Commodities now I mean we have you just look at mining or every rocket you know these Tom Haws are flying into Ukraine I think there’s 14 lbs of silver or some ungodly amount so silver is being blown through Treads and silver is everywhere it’s solar it’s you know sterilization of

Water and all that and silver is still 60% office alltime high and I own Silver Mines I am very very happy with silver I would I hope the price stays down longer so I can accumulate more interesting and one more strategy is I own a lot of Silver Eagles you have silver eagles

Yeah and there’s rumor I don’t think it’ll happen but if the dollar goes bad they’ll always buy I I use silver eagles as money okay so I have SAR is my fallback number you know what I mean interesting so what do you think about the digitization of currencies then I

Mean there’s so much talk right now we got bricks happening you know we got a US debt crisis economically where are we as a society that’s a good I start this whole thing up the biggest problem in America and the world today is the American Boomer is about to go bust

Right when the American Boomer goes to bus it’s like China coming down because right now the Boomer has been feeding into the stock market most of them only have S&P 500 you know paper and when that S&P crashes American Boomers will go with it and that’ll bring the whole

Market de so no not too many people are watching what happened in 1974 right when financial planners stepped in and they started selling Boomers paper you know they call it the 6040 60% stocks 40% bonds what a stupid formula that is it worked up to now it’s not going to

Work in the future and that’s why I’m warning to Boomers right now for young guy like you when the old guys go down you’re going to pay for it right right and how does a guy like me go in and take off that paper as you say uh we’re

Paying high prices for it right now everything’s changed so is there going to be some type of a Equalization happen I don’t know you know Boomers control a lot and they’re the luckiest generation in history My Generation right and they’re going to start exiting so you

Guys your generation has got to be more careful you know your mommy and daddy will move in with you yeah I do love them so I will say that yeah but that also affects the real estate market yeah let’s switch over to real estate market obviously you know you’re a big holder

Of that you know enough about it uh your book teaches about real estate as well I’m curious when you look to the US what right now what’s happening with the debt crisis and it’s just starting to pinch the consumer where are where are we at with the housing market in the US well

Real estate residential depend upon jobs and so just now at the conference we’re talking about how unemployment about to go through the roof so when unemployment goes through the roof Jobs go out real estate right and with the Boomer start losing their houses because that’s the only asset they got because the bonds

Are going bad and and the S&P is going bad we have a major problem and it’s the Boomer Generations those bust H and is it going to be our generation then expected to kind of go in and buy the dip per se well I don’t like the Fed so

You can tell that but that’s why gold silver Bitcoin I always stop listening to what Wall Street says yeah I don’t like financial planners because they’re good people but they’re going to sell you stocks bonds and paper yeah and up to now the 6040 work 60% equi 40% bonds

But bot Market is crashing right now yeah I mean it’s going through a very volatile moment but then we had some people on stage say listen for one two years I don’t mind making 4% on my portfolio even in this volatility is that the advice don’t do it no 4% I’m

Great I totally hear you I mean I make 10 10’s minimum I am I’m also a hard money lend yeah yeah do you what I mean so I’ll fight a guy like you with a startup or something like this I like I like I like funding entrepreneurs right

And if I can get a higher rate of return for hard money they’re so I’m Mak about 10.5% on my money yeah interesting and then when you’re looking at the energy stocks energy companies right now I mean geopolitically we got a mess happening in the Red Sea right now that could then

Pinch our supply chain uh is there an opportunity here at these low oil prices to go in and scoop up more on the energy side I have lots of oil I have lots of oil cracking and all that things but also I went to school for oil I drove

Oil tankers with standard oil and then I flew G ships foret in Vietnam for the Marine cor but energy runs the world so this guy Biden is one of the biggest criminals of he’s a Biden crime family his First Act was to cut the can you know the the Keystone Pipeline from

Canada to America when who cut that I was selling oil at $30 Barrel when Trump was President right the moment Biden came into office and cut the oil oil went from 30 to 130 now I almost voted for Biden every that I’m making a fortune but I knew what that

Social was doing right he was making inflation go through the roof to bankrupt the poor in middle class bid didn’t is a crial just like his son and the second thing he did was open the wall so let all these migrants come across Biden is not a good man it’s one

Of the worst pres we’ve ever had so has that wealth transfer taken place already or is that what we’re in the midst of well look at what inflation’s done right if Biden hadn’t cut that Canadian pipeline oil would still be $30 when Trump was in that’s why Trump stood on

Stage yeah he’s a good friend I wrote two books with Donald he says drill baby drill we can fix the problem oh we got to get rid of these socialist Kami Pino Marxist Nazis called the Democrats or the Liberal Party they’re killing our country so where are we going I mean

It’s an election year all polls are looking like Trump’s back in I mean unless we get somebody on the Republican ticket that’s that maybe does a little bit better where are we going is this Trump back in the White House I’d like to see that you know but I I you know

America’s a problem shooting the presidents it’s an interesting place I know so we have you guys have tough gun laws America doesn’t but there it doesn’t there but we’re Second Amendment freedom of guns you know yeah but uh Trump’s a very very good man but I’ve

Never seen a man so hated yeah he’s a good friend of my his boys are my friends you know we hunt together yeah but I’ve never seen a man that was so vilified than Trump while this guy Biden watch what a person does not what they

Say right Biden’s First Act was cut the pipeline inflation went through the roof was I was making for $30 $130 a barrel he opened the gates migrants have come in what Biden is doing is Criminal anti-American it’s Marxist so I mean in history when we look at an presidential

Election year in the US usually the economy does quite well because obviously the the person coming in power want wants to make sure that they have a strong economy that’s not necessarily the case right now are we going into a recession I think we’re already there

Yeah you know the definition is this if your neighbor loses his job you’re in a recession you lose your job you’re in a depression right that’s interesting and we just now there were talk this last panel was talking about unemployment’s about to go through the roof yeah so

When the when the unemployment goes to the roof real estate market crashes and equities will crash bonds crash so that’s why I’m saying the biggest change actually came in 1974 when Arissa was passed which set up the with the first generation without a pension and the 75 million American baby

Boomers without any money that’s nobody’s watching that nobody’s watching that I mean the wealth transfer that you’re talking about is somewhat taking place now sticking it back to Commodities before I let you go here looking into this year I mean we’re going into a capital crisis inside of

This Market particularly although a lot of people realize that we need to go into the ground and actually get these Commodities if we want this new Green Market and economy to kind of transpire uh what is your thoughts on that I think Commodities are the future I mean it is

You got to get out of this fake paper you see the US dollar is debt that’s what happened in 1971 when next took the dollar off the gold that it became debt America is the biggest Deb nation in the world everybody’s in papers stock spots mutual funds ETFs I want the hard asset

So I’m a very much a hard asset guy no counterparty risk you know I don’t do business with China anymore because they took my cold mine I’m still you sto my cold mine but they play a tough game totally but their econom is in serious trouble too it’s in serious trouble I

Mean it doesn’t seem to be going anywhere fast uh looking at this country because obviously you’re a vck you do a lot of business in Canada how has that transpired over the years years watching leadership to leadership particularly in this market well you guys you guys have almost as

Bad leadership as we do to see this this guy tro I mean where did they they got him from Central Casting you know I mean he’s a goodlooking guy some would say he’s been in there quite a while yeah and I I remember his parents I’m their

Generation and then we have Gavin n I’m out of California so they’re hiring you know good-looking guys like you on all this stuff but last thing I want to do is politics could you imagine but I don’t I don’t think we have had leaders yeah there’s a woman named uh God her name

That but she said something she called it the uh the life cycle of a Curren currency life cycle like for instance Americans wouldn’t take Confederate dollars today right because the Confederate dollars dead there was a thing called the Continental which was the money for the Revolutionary War in

America it’s dead all Fiat currencies have a currency life cycle the dollar is at the end of its life cycle L that Zang told me that he’s a very smart woman but she’s talking about our dollar is in trouble that’s why there’s bricks and all this other stuff

That’s why it’s very important that we start as individuals it’s not what the FED does it’s not what the treasury does what are you going to do yeah what are you going to do how much gold silver and Bitcoin do you have in your possession not in the economy

And I mean it seemed like for so long the government was just putting money out in terms of stimulus as well fake money if you will still writing the debt up and as we listen to some of the analysts on stage now they continue to say that they’re hoping the FED doesn’t

Go under that 2% this 0% interest rate has been ridiculous what are your thoughts I don’t follow the FED good you know I mean this is how much gold so with bitcoint do you have how secure is your cash flow coming in do you have a

Pension do you have medical you you got to take care of your your right now yeah too many people pay attention to things they cannot control I can’t control the fed or the government or the president but I can control my investment part quality that’s why what Jay Martin was

Doing you know Jay always says at the start of the show he says I’m looking for the best place for my money right and everybody should be doing that but that’s why 1974 is a crucial year because all Americans were suddenly told you have no pension okay my generation

My my father had a pension I don’t right and then said oh by the way we got these stocks bonds mutual funds ETS from and I went we’re getting screwed and so it’s going to come home to roost next probably two to four years S&P goes down unemployment goes down depression we’re

That close Great Depression yeah that I think we’re in it right now really it’s starting it well I wanted to leave the audience with a positive note but gold silver no gold silver b c I’m going to get rich yeah yeah and is that kind of how it

Works I mean you’re looking at the wealth transfer between the middle class to the rich is that what’s taking place it’s not even that is the assets change hands one of my teachers he taught me about mining name was Frank he was standing on the floor of the New York

Stock Exchange when it crashed and all of these they’re throwing these stocks away he picked them up paper and became a multi-millionaire right you see in times of change which we’re going through right now is when the New Wealth steps up MH but if you’re doing your mommy and daddy’s formula oh

I got a financial planner doesn’t work I got stock spot 6040 but there’s more opportunity to go to pop so that’s why I’m here with titco I mean or the v i yeah it’s because resources what’s real is going to be the most important question somebody’s going

Is it real is this real gold is this real silver is this real Bitcoin and that’s what you want to go to the next few years because like I said uh when Biden came into office his First Act was to cut the Keystone EXL pipeline which drove inflation through the roof

Right and then he blames it on interest rates right he’s the guy that did it so there’s actually I hate to use the word conspiracy but watch what he does and then he opens and Gates all his immigrants to come in and we’re paying each immigrant $2,200 some months

Millions of them our retirees and Social Security get 1,200 but we’ll pay an immigrant coming through the border of 2200 we’re bankrupt America is now the biggest de nation in world history so you know what I mean I want to stay I want to stay as far away is if if the

Eiffel Towers or the Empire State Building is coming down I want us to go that way yeah but a lot of people will get very rich and that’s why I’m here at the v i right 2024 you heard it here on Kiko news it’s a year of commodity rber

Kiaki joining us thanks again I really appreciate your time thank you sir hey thanks for tuning in I’m Jeremy saffron and again you can subscribe to our YouTube channel for more and don’t forget to download our app for all the latest breaking news Kitco News special coverage of the Vancouver resource investment conference

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