Guest Andy Schectman owns Miles Franklin, a full-service for precious metals. “If you’re going to buy gold and start accumulating, storage is an issue,” says Host Robert Kiyosaki. It’s why he’s been with Miles Franklin for years.
As one of the hosts for the Rich Dad event this April 6,7 and 8th in Phoenix, Schectman has the financial advice you won’t get from schools, the stock market, or Wall Street. Schectman’s father once advised him to buy something every two weeks. “I looked at gold and silver as wealth outside of the system,” he says. Three decades later he has 8 billion in sales.
Schectman talks about his prediction and worries that Saudi Arabia would apply for BRICS, which stands for Brazil, Russia, India, China, South Africa, and Saudi Arabia.
“What gives the dollar its world reserve status is that every country on the planet has had to own dollars since 1974 to buy oil. That’s the deal we struck with the Saudi Kingdom and by extension OPEC.” But in Davos recently, Saudi Arabia said they’re open to accepting other currencies for oil. “60% of the world’s population will stop using the US dollar,” says Kiyosaki. “This is what gives us power. Those saving fake dollars are in trouble.”
BRICS is a system based on the pledging of commodities. “They will use blockchain to see what country has pledged to the system. This will put a knife into the heart of the US dollar and its synthetic demand. If OPEC opens oil production to other currencies, it’s a massive deal.”
“The countries in the EU, the rest of the world, are coalescing against the West,” says Schectman. “These countries are using commodities like gold as a vehicle that will allow everyone equal say at the table. Turkey imported more gold than any country— 58.3 tons from Switzerland.” It will be a commodity-backed system to back a new reserve currency.
Robert and Kim Kiyosaki and guest Andy Schectman discuss the FDIC, Federal Deposit Insurance Corporation, the organization that backs all the deposits held by the banks in the US to which there are over 9 Trillion in deposits being backed by 200 Billion in assets or in cash by the FDIC. “It’s a scam,” says Schectman. “They don’t have enough money to back the deposits. This will make the great depression look like a walk in the park. They have removed all reserve requirements ever since the pandemic, so when you deposit money in the bank, they don’t hold it. Bailouts are gone and Bail-ins are the order of the day. The FDIC doesn’t want the public to know as it could produce a run on the banks.”