Discussion

anitarose said
we should value the x$ by an hour's worth of work

thought of that but one hour worth of brain surgery is not equal to one hour worth of office security guard.

A much better way to make a standard for the dollar is to make a standard definition and then relate other effort to it.

Now let us say a Dollar is the ability for a work-Man/Woman to carry 1kg of break through 100m (AND THIS WILL BE STANDARD)

Then all other works will be derive from this. I think this will work

I don't believe a reader without previous knowledge of the subject will understand the problem as outlined in this chapter.

If they have read previous Rich dad books and others recommended such as the "Creature from Jekyll Island" this would be enough to simply reiterate its importance.

How in the world do we turn this ship around?

I second Mike Haverdink. As a standalone book (without previous knowledge or further reading of your other books) it would not be comprehensive enough to understand the Nixon/Gold Standard history.

A clear summary with all the key factors/influences/impacts/points would be really useful. I don't think the effects of it's abandonment are clearly emphasised so that the reader takes away the level of it's impact on the economy today.

I also think that it is easy to leave the reader in a victim/perpetrator attitude after reading about Nixon being the sole cause of the crash in US economy, an attitude that is in-line with the entitlement attitude. In a way, conspiracy theories lead to more people blaming the government.

Whether it is a conspiracy or not does not really matter, I think this needs to be more emphasised. As many people
could come away from the book with more emotionalised opinions and forget the importance of the book (financial education).

Emotionality is not what is needed, it is the empowerment to become financially secure. Many could easily turn this
into a government bashing (anti-government) attitude instead of pro-financial education attitude, and thus end up falling back into the entitlement outlook of life.

For new readers I don't believe this section is clear.

When nixion removed the gold stardard from the dollar the dollars only value was its ability to be borrowed and owed.After 1971 average household debt rose exponentially and became the biggest credit/debt bubble in history.

I have read Rich Dad's Advisor series, Guide to Investing in Gold and Silver. Having said that, it quite clear to me. I am not sure that someone who hasn't read the book above would say the same. The abandonment of the gold standard is crucial to understanding, really all, of the fundamental components that have driven the current economic climate. So I would say elaborate more on the Gold Standard and its demise.

Yes, the article is clear as to what exactly the gold standard is and why it's abandonment in 1972 has profoundly impacted our current economic condition on a global basis. I also think that this subject is hard for people to understand and maybe if you add an additional visual aide to assist in learning it would help. You like to draw in your other books (at least the Cashflow Quandrant itself), and the diagrams help out a lot so why not do it here? Maybe you could illustrate what money looked like before 1971 and what it looks now. I think that would help people understand.

for a new reader and just only learning of the event today. It makes clear sense to me. I am intrigued to read more of the event.

From the information that I understand from the Investing in Gold and Silver book and others more knowledgable than myself --- that our government has a big issue of ignorance when it comes to money and History. If you pay attention Venezuela offered (Nov 6,2008) Russians big gold projects which to me says that they and China want to get rid of the US dollar standard and they are mining gold to whip the pants off of the United States since the government continues to print, bailout, and Nationalize our banks. The US has a credit problem. Since Venezuela and Russia are teaming up on the cold war once again --- they have been educated on how to bring our economy down quicker. We eventually will become a third world country again if the government keeps going on the path they are. I'm sure they have gold stashed away. This last package that they passed only had 20 billion dollars in it to stimulate the economy. Not Good. Pork belly spending.