Kitco News special coverage of the Vancouver Resource Investment Conference is brought to you by Snowline Gold. Hey everyone, welcome back to Kitco News coverage here at the Vancouver Resource Investment Conference. A lot of buzz in the room and my next guest has a dire warning about the economy and a bold prediction for gold, silver and bitcoin.
Of course, he's best known as the author of Rich Dad, Poor Dad, the number one personal finance book of all time. Our friend Robert Kiyosaki, good to see you. And congratulations.
I love you. I appreciate that. I appreciate that.
We had you on this show a year ago today. And I went and I watched the tape yesterday. And you were so accurate about your calls. I mean, we were talking about Trump entering the White House. You thought that was going to happen.
Here we are. And as we're at this show, Donald Trump's inauguration will take place. I wanted to talk, though, first.
He invited me to his inauguration. I knew it. But I'd rather be here. You would rather be here.
I'm happier here. I don't blame you. So talk to me. I mean, you've been coming to the show a very long time, Robert. But you're also involved in the deals.
I mean, the community knows you. What's the market sentiment this year? Well, I think we're going to look at the bigger picture. So I carry this around now. It's a 1964 Kennedy half dollar.
And right after that, it went to the 65. And I was 17 years old in 64. A lot before. before you were born. And it went from silver to copper.
And that was Gresham's Law. And Gresham's Law states, when bad money enters a system, good money goes into hiding. But it's even worse than that, is when bad money is in a system, like the fake U.S. dollars. We're printing a trillion dollars every hundred days now. What happens when you print fake money, the people like us get richer.
People with assets. get richer. But the poor and middle class, what goes up to our expenses, like chicken gets more expensive, gas gets more expensive, housing gets more expensive.
So when you print fake money, what Gresham's Law is saying is that our homelessness is going to keep going. And people can't afford to live these things. Right.
And the more they print the fake stuff, like this here is trash to me. Yeah, yeah. But the more they print that to cover our expenses, the more our problems increase. So fake money is causing huge problems, but nobody says anything about this. Well, send your kids to school and learn nothing about money.
Well, I mean, you can write a book like Rich Dad, Poor Dad. The fundamental sense you're writing that book has not really changed. You know, if you look at the.
the actual mythology behind investing. I mean, I'm curious because I was reading one of your recent posts on X and you said that this giant market crash is already here. You know, it's going to reshape the financial system, really widen the gap of what you're talking about between the rich and the poor.
Is the middle class even existent anymore? They're wiping out. Homelessness is going through, drug abuse is going up.
I'm not Republican or Democrat, but you watch what a person does. You know, Trump put the wall up, Biden took the wall down. I think he's one of the biggest criminals. Biden's one of the criminals, the Biden crime family, I call it. And I know Donald Trump.
I know I wrote two books with Donald. These two sons and I are good friends. And they're good kids. But you look at Biden, Hunter Biden. A drug dealer and all this.
Different thing. Well, he's parted. He's parted now. So, okay, let's get back into that warning sign that you're talking about. Because the market has been crazy.
I mean, the S&P keeps going up and up and up. Davidi, I know that you think we're in for a correction. Where are we at? What are the warning signs we need to watch for?
Well, let's go back to the start of it. In 2008, this guy Bernanke, was that his name? Ben Bernanke.
Professor. I don't like professors. He starts printing tons of fake money.
And he blew the world economy into the everything bubble. So everything's in a bubble today. So I wrote a book in 2014. In 2014, I wrote Rich Dad's Prophet.
obviously, about why the biggest stock market crash is coming. We're in it right now because the S&P is about to collapse. And when that happens, then all the baby boomers with 401K toast.
Social Security is bust. Medicare is bust. So that's why I've always been a hard asset.
Hard asset. But do you think this wealth transfer you're talking about right now, you know, the rich getting richer, we're seeing Elon in the White House. I mean, is it going to continue to evolve?
I mean, are we going to get the middle class back? Or is the rich just going to keep getting richer? It's leadership. Yeah. You know, there's a guy named Jordan Peterson.
He said, you think tough men are bad. Wait to see the damage a weak leader does. And this guy, Biden and Kamala.
They're criminals. Look at what they've done. Not what they say. Trump puts the wall up, Biden drops the wall down, fentanyl use goes up, child trafficking goes up.
California today, that guy Gavin haircut Newsom and that woman, whatever her name is, the mayor, the black woman. How incompetent are these Democrats? I'm not a Republican or Democrat, but I'm saying you can't find worse people than that.
Yeah. I mean, in the face of what you're seeing in California, it's so devastating. I mean, I don't even know how they're going to rebuild at this point, but that would be some considering a wealth transfer in itself, too.
Yeah. I can't believe what's happening. So that's why gold and silver, I like Bitcoin, because it's got integrity.
This has integrity. The definition of integrity is it holds its shape. See, this holds its shape.
And that's why I like it. It's real. So talk to me about Bitcoin.
I was watching our last tape from last year. You said you had 66 Bitcoin. You're holding. Now we have new all-time highs. Of course, we just reached 104,000.
And as we were speaking, are you buying more? I have 85 now. Okay.
I shouldn't say that. Maybe not. I buy gold and silver. I'm a silver buff.
That's why I hold this. Of course. Because I think this, and so let's say this.
I hold this up for people in my talks. Which would you rather have, the $20 bill or this half dollar? They always choose this.
So interesting. But this is my prediction. This goes to $70.
Is that what I was going to ask you? Because, I mean, you recently posted on X, silver is going to take off, supply low, demand up by now before the price of silver goes up. What will be the driver to get silver to that $70 mark?
Well, it's awesome. I'm investing in lithium up in Canada. It's solar.
And, you know, people are shifting to a precious metal. I now drive a SUV with a, what do you call it, EV. I like it.
Okay. No hybrid? No catalytic converter for you?
But I also have gas cars. I own oil wells. Right, right. But that EV is a nice car.
I was surprised. You were talking a little bit last year when we had you on about, you know, obviously with the Biden government. taking back any drilling permits. We saw the price of oil go through the roof.
Trump coming in with that new pro-energy policy America first. I mean, is it going to be drill, baby, drill? What's your anticipation? Let me flip it on you. Okay.
America is a Saudi Arabia of debt. So while Saudi Arabia pumps oil, we pump debt throughout the world, which is why Kithko is so important, why we really want more things that are... real. So it's drill, baby, drill, but what are they printing?
I'll say it again. This is what saddens me. When you print money, we get richer, but the poor middle class get poor because chicken and eggs get more expensive.
expensive. So we have this homelessness problem. And then Biden drops the wall.
Fentanyl, I think they took out 300,000 or 30,000 people last year. And most of our homeless is either can't afford it or they have drug problems where they're mentally ill. So I'm not Republican or Democrat. I'm glad my friend Trump won.
But what are these guys doing to our country? Well, what is your friend going to have to deal with now taking the keys this week? I mean, what?
What kind of a White House and economy is he going into? Is he going to be able to come and save the day? I don't know.
I met with Vivek's partner. His name is Derek Teach. This guy Vivek is a smart guy.
What they're fighting against is woke entering the financial markets. So Vivek is fighting these guys like BlackRock. When you have to have ESG, you have to have woke. principles. If you don't have principles, we won't give you your money.
So Vivek, his group, they went after Starbucks. And they said, you've got to stop giving away free food and toilets and all this. He says, you must look out for shareholder equity. So Vivek is a hard guy on sound money, sound stock markets and all that. So that's what Trump's bringing.
Yeah. Yeah. The best minds, I mean, some would argue you've got the top leadership in there going in and at least advising them.
It's not his first time to tell him with a load of wood this time. around, right? He knows what to expect.
Your view on the U.S. dollar hasn't changed. I mean, obviously, fiat is not what you're about. But has anything surprised you in this de-dollarization trend of 2024? I mean, Bitcoin to 100,000 kids buying gold for the first time. I mean, people are waking up.
And there's a Trump dollar now. What do you think of that? It's a joke.
Oh my goodness. I mean, the market... You've got to get back to real.
Yeah. Let me give the definition of integrity. Because it holds its shape.
This holds its shape. This is toilet paper. That's the problem. But you've always had the...
You've always... who's been more of a Bitcoin advocate, you're not doing the meme coins, the Trump coins, nothing. I'm not smart enough. Yeah, but people are, I mean, it had the market cap of Occidental Petroleum in 12 hours. I mean, it's fascinating.
So there's obviously liquidity still in the market. Are you worried that the people buying these are buying it with their last dollars? I mean, what happens when that... I just said, I was showing this guy Bitcoin. That day it dropped $30,000, something like that.
And I said, you shouldn't buy Bitcoin. No, volatility through the roof. But the ROI has been there.
I mean, look at the returns this year. Has anything surprised you on the gold front? I mean, continues to be resilient this year. Are we going to see 3,000? What's your price outlook for gold?
Gold is, I think, I like what Jim Rickards says, 15,000. Okay. And what I like was Jim Rogers, who was Soros'partner. He just dumped his stocks and he's buying silver.
Wow. A lot of times the hard paper guys, paper asset guys like stocks, S&P 500, are going hard, hard, hard metals right now. Integrity means it holds its shape.
This holds its shape. And I see homelessness because this is in the system. Yeah.
Fake money or Gresham's Law is in the system. You know, you're talking about paper, and some would argue, I mean, we're at a mining conference, right? We'd still need to get in the ground and get some of this metal out of the ground. Are you looking at investments here as an opportunity for that?
Of course. How big of an opportunity is that? Because we haven't been able to put a lot of holes in the ground.
Well, I bought Bitcoin at $6,000. I thought I was late. I was early. And the reason you come to VRIC and Kitkill here is these are where the real entrepreneurs are. I love Vancouver.
Everybody's got a deal. You know, Vancouver to me is the capital. capitalist city of the whole America. Everybody's got a deal here.
You know, if you're at S&P 500 puke, don't come here. You come here because you want to find the hottest new deal coming up and precious metals. Just watch the Federal Reserve Bank keeps printing money. This is the place to be because as they print money, what's going on here at VRIC gets more valuable.
Yeah, it's well said. This is real. This is fake. Our national debt is about 30. $36.3 trillion.
Growing every day. I have a quiz for you, smart guy. If I printed $1 a second, or I spent $1 a second, how long would it take me to spend a trillion dollars?
Oh, God, now you have me doing some math here on the air. A long time. One second. Over years.
One second, 60 seconds in a minute, 24 hours, 20 years. 31,688 years. Wow.
Wow. That's from Andy Sheckman. No kidding. Andy is a smart boy.
Yeah, he is. We've had Andy on the show. He's always telling me his little bits and puts reality.
31,688 years to spend a trillion dollars at a second a dollar. And we print a trillion dollars every hundred days. Crazy.
That's why you should be here. here, not in the S&P 500. That's interesting. You know, I had an analyst on yesterday and we were talking about how for American buyers coming to the market because the value of the Canadian dollar is so low, buying these stocks right now, you're also getting a little exchange bump as well. I mean, you can really go up and pick up some haircuts, some sales here at the show. Well, you want to be early.
My rich son always said to me, your profits made when you buy, not when you sell. Interesting. See, I come here to a VRIC and I listen.
listen to your show all the time, because I want to be early, not late. My biggest concern, not the only concern, but the baby boomers were the first generation of the 401k or RRSP in Canada. And they're loaded with S&P 500 stocks, you know, the Magnificent Seven and all that other garbage.
How much gold have you got? How much silver have you got? How much Bitcoin have you got? They're all stacked in paper.
And as I said, when Bernanke blew the economy into a bubble, and it's coming down right now as we speak. Let's talk about what your friends are going to have to do. you here? I mean, coming into the economy, is he going to have to keep printing money, put some stimulus in it?
No one wants a bad market their first year. I feel for him. Yeah.
I mean, he's a good man. I've written two books with him. His sons are great kids. But then this fire breaks out, and he was just on YouTube saying, we're on the verge of World War III. So Jordan Peterson, another Canadian, says, if you think tough men are dangerous, see the damage a weak leader can do.
Biden and Kamala Harris, I'm not a Republican or Democrat. They're all weak leaders. Yeah.
Well, this is the problem. I mean, all year we've had this data released by the Fed, who works with that administration, and then they could. come out months later and revise it and say, oh, a million jobs disappeared.
Don't worry, nothing to worry about. Is the transparency that Trump is talking about governing the United States, is it going to come to fruition? Is he going to be transparent about this stuff and start showing people what's actually taking place?
Trump is early. You should see some of the tweets he came up with, what access, whatever they call it. He was warning about the California fires.
Trump was saying, you better clear that stuff out. And here it is. So, you know, Trump is prescient. He can see the future. And so I'm more confident in him than Hunter Biden.
Yeah, no kidding. Okay, so everything we talked about, the market crash, you know, this economy that's propped up on debt, obviously a bullish case for gold and silver. Is there one of the metals that you're more bullish on? I mean, is it a silver moment? We didn't really see it take off like gold last year.
Silver is about to take off because silver... Look, I just look at the smart guys. Yeah.
I love Jim Rogers and I love Jim Rickards. And so Rickards is bullish on gold. But when Rogers said he was selling his S&P 500 to buy silver...
That's not a sign from God, I don't know what is. Because I'm a silver bug. You write about the supply and demand issue.
I mean, you know, supply low, demand up. Is that what's driving these middle prices? Do you think, some people say that that's just a, you know, it's not actually the case.
There's a lot of silver out there in the market. We could see $50 silver this year, you're saying? I'm predicting $70.
$70. I'm very bullish on silver. But the reason is because silver is also a strategic metal. And as Trump is saying, we might be on the verge of war. That means the demand for silver goes up.
As Andy Schickman says, every Tomahawk missile has, I think, 14 pounds of silver in it or something. Every time they fire a rocket, it's gone. So it's a strategic military metal. Yeah, you were talking, speaking of strategic military metals, copper is one as well, and you were talking about, you know, back in 64, going to 65 when they came off that silver standard.
Are you bullish on the copper front? I mean, you mentioned lithium. What else are you looking at in the commodity space? I stick with what I know. I've been saving this stuff since I was a kid.
I have pennies. I'll tell you another story. I saved all of these. In 1965, I went to that fake metal. So I saved all of these silver coins.
You call them a dirty metal or whatever. I had a whole bag of it. I went to school in New York. I was living in Hawaii.
Went to school in New York. I came home. I said, hey, Mom, where's my bag of money? She goes, I spent it.
But I was a kid, you know. That's the problem with rich people and poor people. Rich people know what's real.
Poor people don't. That's the difference. This is fake money.
This is real money. It has been for thousands of years. Yeah, it's not going anywhere.
Okay, I'll leave you with this one because we're at this show. What is the advice you give to people, you know, the baby boomers, the ones that are worried, even the middle class? just don't have enough money to go and buy eggs at the current prices. How do they get ahead this year?
Bitcoin, silver, gold? I really don't know. It's late.
You know, always remember your profit spend when you buy. not when you sell. So I think silver, as you know, used to be 50. It's still only about 30. So it's still like 40% under market value. So I've been a silver bug for years and years and years. And when Andy Sheckman says there's like 14 pounds of this stuff in every Tomahawk rocket, I became a believer again.
Totally, totally. I'm afraid we're going to war. Do you think that Trump will come in and change that?
I mean, he's trying to get some ceasefires happening. I mean... A little bit more. Strong men. We need a strong leader.
Biden was a weak leader. And that's Jordan Peterson. If you think tough men are dangerous, well, you see the damage a weak leader can do.
Look at this guy Gavin Newsom in California and that other, his cohort, the mayor. Where is she during the fire? She's in Ghana doing a PR tour.
What is wrong with these Democrats? I'm not Republican or Democrat. No, I hear you.
But I mean, somebody has to be accountable for it. Sam Altman was recently on X. He has open AI.
I thought he had an interesting tweet because he gave a million dollars to the Trump inauguration fund. And the Senate came after him trying to figure out. And he put out on Twitter, he said, it's funny when I donated the same million dollars to the Democrats, I never received one of these letters. So maybe a little bit of change happening in Washington right now.
I don't think we have a choice. The market's going to dictate, you know, the market decides. And like I said, we're on the verge of war. I went to Vietnam twice.
I don't like what I see. I had dinner the last night with a guy from Ukraine. That's tragic.
And then what Biden did, he fired rockets into Russia. He killed Russian troops. He's, so Trump has to be a strong man to kind of, I hate war. But he's got to clean, he's got to tighten up here.
So, and look at China, man, they have Arreos and all this. It's all hard assets. You're investing in them right here. Robert Kiyosaki, of course, is best known as the author of Rich Dad, Poor Dad. Again, number one personal finance book in history.
Always a pleasure, my friend. 25? How many languages? 50. Oh, my gosh.
Robert Kiyosaki. Thanks, my friend. Appreciate your time.
I'm Jeremy Saffer. For all of us here at the Vancouver Resource Investment Conference and Kitco News, of course, we'll have great coverage coming all week long, some top-notch guests. Stay tuned. Hit the Like button.
We'll see you soon. Kitco News special coverage of the Vancouver Resource Investment Conference is brought to you by Snowline Gold.