I think is not a time for "you" or "me" anymore. But a time for "us". Have you ever experienced the event "Promises, Promises!"? Well it's about this, about fulfilling our own needs, but also thinking on how to help everyone else's needs. I think it is a time where all the great minds and masters embrace their moral leadership and rally a new, better, more conscious way.
There is a group called The Elders, in which Richard Branson (one of the greatest brittish entrepreneurs - www.virgin.com) is participating. I think is a good effort, an example. But not enough for a new beginning. I think it's time for all masters and great doers and thinkers of good will come together, as you Robert, and start developing the foundations of the future to come.
Ponder it for a while. Is it time for you to keep on sustaining this monetary sistem that has proven to become obsolete, or is it time for your great teaching talent and experience to be put on service of the future generations?
Think about it and talk with other great masters like you about it. Visit www.thevenusproject.com and you'll see there a vision that you can help build. It's not mine, I do not work for them, is just something I came to stumble with and stroke something inside me.
The comments from Robert and the readers make this new book so insightful. To stay on target and keep in short, I've got two stories to share.
I can remember in the summer of 1965 when I finished up working all day in a neighbor's lawn. The neighbor was a couple without children, they owned a plumbing business. The husband was always sharing some wisdom with me and I'm not so sure I understood it at the time. However, these bits of wisdom stuck with me. It was time to pay me for my day of work. He pulled a big wad of cash from his pocket. He then took a single silver dollar out of his other pocket. What he said next didn't sink in for many years. He told me to take a look at the silver dollar and then look at the wad of money. "Our government stopped using real silver to make these last year and someday this silver dollar will be worth much more than a dollar." Then he told me that today's dollar is worth more than tomorrow's... a lesson on inflation followed.
In the early 80's I worked for a company in Munich. I was a representative for them in Florida and the Caribbean. There is a huge difference in the German people between generations. It seems that because of what happened just before WWII with Hitler, parents didn't talk too much about the culture or society to their children. Boomers in Germany generally are detached from their history. Now to the point. It appears that people that had held ownership/shares in companies through WWI, the inflationary depression, and WWII kept up with inflation and actually protected their capital. Looking at Bayern (Bayer, the aspirin people) folks who held their ownership shares got back what was confiscated and actually profited from the growth of the company after WWII.
Today, our world is much different and making decisions on what to do are difficult. Robert, we are looking forward to your next chapters so we can get an action plan going that is both personalized and effective dealing with our future economic situation.
I'm McMug. I bought "Rich Dad, Poor Dad" in 2004. In the early, I think of My asset Value growth and I've worked until 65 years old.
When I was hard work, afraid of absent. The Summary, I'm repeating to pray of God," I've worked until 65 years old".
Until 2008, I discovered waste cans could sell to recycle shop. The early, I sell cans about HK$1.00. Then, I think about paper, becuase I could take much paper in Hong Kong. The Hong Kong is Commercial place, so it make much waste paper on every day. The first time, I used four days save paper. The result, I sell about HK$8.40. When I was happy, because I take paper more than cans money.
At the time, I visited Uncle home, I discovered him of much paper, I asked them,"Can you let me to sell these paper"? He said,"OK". The result, I sell it about HK$103.00.
At the day, My friend called me,"We had much paper". The result, I used 2.5 hours to sell about HK$230.00.
Although I achieved S quadrant, but I must be worked for money, if I do not work, not income. Then, I discovered small bank provide New Zealand Dollar interest rates was 8.4% and South African Rand interest rates was 7.5%. I sold mutual fund to New Zealand Dollar and South African Rand. The result, I received HK$10.00 interest received on everyday, until 2009, I received HK$10.00 interest received on everyday. I will choose retire on 40 years old. In the future, I will believe retire on 40 years old, because My Fixed Deposit will provide Interest Income On every month. If I will not to work, these Interest Income can cover total Expenses. I will have HK$6,300.00 interest income on each month at 40 years old.
In fact, I was change my thinking, I could read "Rich Dad" series books. Currently, I had 33 pieces of Rich Dad Books. I share quote "Rich Dad" content in sinablog on everyday.
My story comes from my father's grand parents although I never got to meet them. However, my grand parents told me their story. During that time, the Philippines was under the colonial rule of the United States. When the Great Depression started to be felt in Manila, my ancestors started to flee the capital city of Manila since there was no money flowing in the market. Nobody wanted to spend but just save their money. Some of the relatives went to Lipa City in Batangas province and others in Legazpi City in Albay province. They went their for many reasons, but their common belief is that it time to go back to the basics by become suppliers of basic commodities. Lipa City is a producer of coffee, while Legazpi City is a producer of abaca fiber. My ancestors fought hardships during those time, but in the end, they became successful entrepreneurs after several years.
I learned that it is time to go back to the basics. It is time to make an asset out of "store of value" items such as land, commodities, gold, silver, precious stones, etc.
I met with a man today who was born in Germany in 1925. He shared with me his experiences.
I asked him several questions;
1) I asked him his age at the beginning of depression, if he recalled when it started and what his family did for work:
-he was 4 years old, his family was common and at 4 years old he remembers something was wrong. His father hadnt had work for a long time.
2) I asked about the onset of the depression:
-he recalls people selling everything and anything to get money. He said people would go into the woods and collect berries and mushrooms to sell. His grandmother would make bread and butter and tell them not to let anyone see them eating. The police would be in constant conflict with the commoners and always break up their meetings. Town was dangerous because of the civil disputes. All gifts were handmade. Heating was difficult, no wood and the coal was of poor quality. He recalls never being warm. They never went out at night. People were looking out for themselves and family, that was it. Heilsarmy (the equivalent of Salvation Army) would try to help people but did not always have the means. This was his recollection of the beginning of the depression.
3) I asked him if there was deflation before the inflation came. He thinks so, but too young to remember, but as he grew older he recalls that a pound of butter once .30 cents was now 100 reismarks. By 1944 a package of cigarettes, once .50cents,or reismarks was $5.00.
4) I asked him if there was an opportunity to pay off old debt with the hyperinflated currency: He said no. The rate of inflation was faster than wages and there was never any money to even buy enough food if you could get it. He said that the foreigners were coming in and buying all of the assetts. They were not liked. The rich all moved eventually.
5) I asked him what the biggest worries were: He said that food shelter, heat and clothing were their worries.
He told me a story about a man going through the streets with a cart selling blueberries and his mother getting a bowl to buy some. When she came in, the bowl was empty, he asked her where the blueberries were and she said he had sold out, but he could still hear the man calling to sell the berries. His mother did not have enough money.
6) I asked him how he would prepare for the same type of depression if one were to happen now and I asked him what he would do differently. He took me downstairs and showed me his food storage, several freezers full of food and the back up power system that he purchased to keep his food frozen for several hundred days. He also stores currency. He believes the same thing is happening now that happened then. He doesn't know if the currency will become valueless. He had his precious metals stolen.
In a week I will meet with his friend who is six years older than he is who remembers the experience also, but who was rich at the time in Germany.
While I have not had the unique opportunity to talk directly with anyone who lived through The Great Depression, I have read many stories of those who have. And even though they all share their differing stories of struggle and heartache during that dark era in American history, I am always inspired by the same common thread that ran through all of them - the indelible human spirit to endure and persist!
Americans especially have a "do whatever it takes" mentality because that's how our great country was founded. It is a part of us. And even though it seems to have been forgotten and lost by many in the basement of comfort and security, when struggle comes again, that box will once again be opened.
Recently, while waiting at the dentist office, I struck up a conversation with the elderly gentleman in the next chair. He was 92 years of age and born in 1916, barely old enough to be aware of the economic conditions of the great depression. He told me he got a job as an engineering apprentice with Caterpillar Equipment in 1935. He had a wife and two kids at the time. He worked for Cat. For 40 years and has been retired since with pension and health benefits. This proves it is possible to obtain work during a depression. It won't be as bad as everyone thinks.
My wife and I have been great fans of Rich Dad, Poor Dad and have read most of your books, I must say they are the easiest read ever, you can not put them down. "Prophecy" wow more like prophectly correct. My education was not very formal, GED in the army, some junior college as a bus admin major. Got into real estate after a broker told me I'd be good at it, and that was our start. This is when I realized how much I did'nt know about finance and money. I started reading about history, economics, tax law, business codes, business entities, etc. and then I discovered your books. Your books do more than just teach, they make you think, thank you.
Chapter four was very insightful, I'm 35, have been laid off, and bankrupt. I feel America is headed down a road of hyperinflation, but despite all the bad news the coming and/or current depression I still fell good about getting out of the rat race. I have learned a lot from reading Robert's books and my own experiences. I look forward to future of opportunity rather than a bleak end.
In the German inflation I heard stories of people getting rich beyond our wildest imaginations.....I have also read about the middle class getting wiped out....In the American depression I have heard about people waiting for hours in soup lines....while Rockefeller, and Morgan got rich (by IN MY OPINION starting the whole damn depression) But my favorite stories are those of people like W. Clement Stone, a salesman, who decided to do take charge over the situation....He looked at his resourcefulness and chose to become rich by selling at a time when most other people chose to became poor by accepting the dogma around them...... Now during this depression more and more people are sitting around waiting for God to give them the answer, to save them.... Unfortunately, those people don't know God.... God, "The Great Spirit", or whatever you choose to call Him....actually is the Great Teacher.... and most people forget, teachers don't talk during test time..... and we are currently being tested.... I will end this with 2 of my favorite quotes
"The strangest secret in the world is we become what we think about." Earl Nightingale "The Strangest Secret" audio CD
"Wisdom is supreme; therefore get wisdom. Though it cost all you have, get understanding." Proverbs 4:7 NIV
So thank you Mr. Kiyosaki for teaching me the wisdom to deal with current situation....I subscribe to Richdad's TV (a $20 a month video service offered on www.richdad.com) and have learned more from watching those videos over a one year period than I learned from 5 years of military service and 4 years in college....I learned that I become rich by thinking about being rich, surrounding myself with coaches from Richdad Edu, and then taking action on what I have learned....You have taught me that Everyone will pay the price to poverty in one of two ways. Through education and experience or through ignorance.....And than choice is up to me and no one else......Your products and seminars seem expensive, but compared to the price of ignorance, The (ROI) of all of your products that I have purchased have been truly infinite. So thanks again for helping me to use the "Strangest Secret" to become rich.
Hello,
My father's father died in 1932 and as a result my grandmother insisted my dad quit school(his freshman year)and help support their family. He worked all manner of odd and manual labor jobs and eventually joined the Army-AirForce during WWII. After the War he married and joined the city's fire department. Our Family was a large Catholic one - he was not able to complete/chose not to complete his formal education. His lack of education severely hampered his self esteem and how he saw the world. Although he tried to self educate himself he usually deferred to those with more education. He resented my grandmother making him quit school but as a result of the depression he seldom went into debt and dealt on a cash-only basis.
Robert's perspective on the current events is spot on, I believe.
This is a great time to be in simply because we have the choice to educate ourselves in financial literacy. When preparedness meets opportunity is when success happens. There is another book by Robert thats called " The Business School for people who like helping other people". He said if he had to do it all over again he would go to the direct sales industry. Robert and Donald Trump both recommend from their book " Why we want you to be Rich" to get involved in network marketing because it allows a enviorment to which you are excepted warts and all and are mentored through the rough spots till you have the skill set to amass true wealth.
We must unite together as we approach this exciting new wealth transformation. Together everyone achieves more......
My maternal granpa would tell stories that when he was in elememntary school (Japan was governing Taiwan then), he would walk to school in bare feet. He would carry his shoes and put them on at the entrance of the school so that his shoes would last longer.
One of his classmates was a rich man's son. It was during a time when paper was expensive. This rich kid would practice writing Chinese words on a piece of paper and then threw the paper away.
My granpa would pick up the paper and practice writing on it over and over again because he did not have money to buy paper. (My granpa passed away last year at age 92, if you had seen his hand writing, you would have witnessed and felt the strenghth he possessed from within.)
After he learned a trade as a medicine saleman, he would paddle his bicycle from villages to villages, rain or shine, even when it was hailing, market his business. It turned out that his store became one of the biggest stores in the city he lived and supported a wife and seven children.
I never really had a serious talk with him. Being that we are not so close. But I remember when I was working at a travel agency before coming to the US, every morning I would walk thirty minutes to his store and have breakfast at his house, read newspaper with him for ten minutes and caught the train to work.
It was the best memories I had of him.
I was glad that Katie got to meet him before his death. At least Katie knew where I was from and whom she is part of.
My grandmother was always saving. Even re-using aluminum foil. She has not necessarily been fearful, but careful. I got to watch her while I grew up. She taught me about savings in things that make money much like is taught in "Richest Man in Babylon". Living off of dividends and service and food oriented businesses. When rough times hit, people aren't thinking about sex. They are thinking about the next meal and their health.
It took me over 32 years to understand the advice. Stupid of me. But I've learned and its not too late. Seven years of investing in money-making instruments, a great service profession and keeping little cash excepting emergency fund money has been how I've finally put her prudence to work in life.
My parents used to laugh and lament about grandma's ways. You know where they are living now? With grandma. Little retirement and small accommodations and beat up vehicles. Me? One of the homes I've purchased and investments growing.
I didn't laugh at grandma. Just took me a little while to figure it out. I would like to see what's in her safety deposit boxes. Think it may be gold. She probably gave away to me and my siblings all the 2 dollar bills she had.
hi robert and to all your fans! i am one of them. i have read most of your books. i have a great career as a researcher. i am a foreigner living in japan. i am now leaving my comfortable career to get into business as online entrepreneur. i am a bit scared because i am new to this arena but with the knowledge that i have gained from mr. kiyosaki's books and videos, plus other great authors like donald trump, i am confident that i will get to where i want to be in the near future.
Many people I talk to,think a great depression,
can not happen: because our "Gov't" ,will save them!!!
I'm getting ready: (1) Stocking Extra food (2) no extra bills
(3) My own online Business-http://www.DoGooder.com-Promoting
information for better world.
Good-Day & Good-Luck!!!
AKA "DoGooder"
Thanks again for a very helpful insight into the past, present and future.
I live in South Africa the Southern neighbor a once wealthy Zimbabwe. I have traveled to Zimbabwe over the years with various church groups and seen first hand the devastation of a situation of depression (hyperinflation). A wise friend of mine who advises church leaders in the country, said to me "Zimbabwe and what is happening there are a strong warning to the rest of the world" It is very easy to look at Zimbabwe with scorn and look down on them as a passive nation, with a mad dictator President, and not see that the USA and the rest of the world are responding to a financial crisis in a very similar way to Robert Mugabe. i.e. (printing more monopoly money) Zimbabwe apparently now holds the world record for the highest inflation rate. Interesting that you speak about preparing for this scenario. Zimbabwe at one point put their old coins back into circulation, just with a new value. This was a huge win for those who had kept the old "worthless" coins.
The human loss and tragedy in Zimbabwe is staggering. An entire Nation has within a few decades gone to a total meltdown of almost every sector of society. The poor, elderly and middle class have been decimated. Those who could move away have done so, but a global scenario of the likes of Zimbabwe is to scary to contemplate. For sure the only ones to financially survive would be those that had prepared, the super rich and the Godly (like Joseph in your example)
I have already started to prepare by buying silver and gold coins, and looking at other investments and business ventures. My worry also is that I may be preparing a bit late. Also what happens if world governments ban trade in silver and gold coins?
Here are a few interesting notes I have made over the last while on this subject.
I have begged my friends and family to move at least 10% of their money in the bank to medals and they look at me like I'm crazy. You are right Robert. Our country is so illiterate.
How should I go about convincing my friends that they need to do this?
My grandparents actually lived through that experience very poorly. As a result, my baby-boomer parents never told me that my financial statement was my real report card!
But that was then and this is NOW! My bottom line is this, I look forward to the coming of the greatest depression in history. Like Robert and his Rich Dad, I can choose daily which side of the table I to sit on. - See you all on the other side of the rainbow!
Over the years, I've known people who lived through that depression. Some lost everything, some profited greatly, some were able to actually live a better life. My ex was able to buy a 192 acre ranch for $3500.00. People who lived on farms did pretty well, for the most part, as they could grow their own food and livestock. The lesson seems to be to be able to take care of oneself and cooperate with others for the good of all.
Thank you so much, Robert, for your courage in writing this book. As mentioned in one of the previous posts, you keep things simple and in context.
A question: What do you think a workable system for sustaining this nation, as well as global prosperity, would look like? How would it work? How would it include all?
If U think the Gov don't know what their doing, then U're a Fool
If you think that the Gov don't know what their doing then you're a fool. They know very well what their doing and they do it on purpose. Don't anyone realized that they don't even put any effot at all for solutions or alternatives that don't involve or end in printing more money. Now, the question is why? See the answer below:
It amazing how intertwined the world economies are and the folly of most of its leaders. Coming from a small country that has benefited extremely from the now fading oil boom and whose dollar is pegged to the US dollar, we see double digit inflation, non-substantial development of other economic sectors, huge buildings with a questioned health sector, traffic that no island should experience and bail outs of companies for doing wrong! As we host the 5th Summit of the Americas I await to hear what our leaders come up with to tackle this global crisis.
I strongly believe though that maybe a copy of RK new book(any of his books for that fact) should be put under the pillows of each leader.
Robert fails to mention in his books that not only are depositers paid in interest much less than borrowers are charged in interest.....The banks loan money than is created out of thin air right when the loan is made. The money is not totally money already deposited in the bank.
Good debt and bad debt doesn't apply under our current system as the banks operate under perpetual fractional reserve....so all debt from them is bad. Good debt occurs between individuals who put up their own hard earned cash........ instead of bankers who create money out of thin air and loan it out....with interest due.
Robert has great insight and is doing a great service...but he still should acknowledge that "cash" flow models don't work forever in a fiat monetary system when people realize that the "cash" is paper money that has no instrinsic value.
Although Robert is "late" to the Gold Standard Party.....his current work shows that "better late than never"...(Most Republicans say they are conservative. They are not because they believe in borrowing money we do not have ....just like the Democrats. Ron Paul is the only true conservative in Congress. Please join campaignforliberty.com if you believe in sound money which is why Ron Paul go into politics.....because Nixon got us off the gold standard)
When Robert told Larry King that the best currentl investments were gold and silver....then real estate....I jumped out of my seat and roared. When he said the cause of our current crisis was the Federal Reserve System....again...I jumped for joy. Robert is a true patriot along with all the goldbugs throughout history that know that you cannot create wealth...for a society via a Helicopter Ben Printing press (Ben Bernanke has said publicly that if necessary he will order crateloads of currency to be dropped from helicopters for people to grab up and "use".)
So lately I find myself torn. This is not so much of a "what have I learned about past depression" as much as how to approach the possible current one. I see all the current events that are going on and image the possibilities. But I like what I would believe many of us out there am an average person with a what may be described as a typical situation. Let me explain.
I have some savings, for me it is a decent amount. But it is just sitting in my bank getting eaten alive by inflation in my opinion. I own a small amount of gold and silver, as a hedge and potential barter. I own 1 investment rental that pays for itself. But I have debt, I have a mortgage, some credit card debt and a small, small business loan. So I look at our current economic situation and I wonder what can I do to protect my family. Is all this work I am putting in this small business I have all for not. It pretty much is a job, not a real business, I just own it. I believe in networking and a possible direct marketing as an avenue for income but is there really any reason to start one now. I just feel like(emotionally) I should be hording food, canned goods and getting ready for the storm. I know that is wrong way to approach but I don't know the right way. I want to be proactive and get myself in a good situation but I don't know how to go about that. I do not want to live in fear and its not that I am, I just rack my brain and try to think of what I can do to make my situation better and I just don't get anywhere.
If anyone else may have some advice that would be great. I am not the best idea man, but I can implement things and make them happen. So maybe someone out there can tell me what they are doing and why they think that is right? Maybe networking or direct sales could work, maybe I need a heavier position in gold & or silver, maybe who knows. I am just kind of throwing out feelers here, I am not looking for the golden ticket. I just want to see what others are doing and pull some ideas together. Would love to hear from other like minded souls.
In my conversations with my grandfather, who was born in 1919 and came to Chicago to escape the Jim Crow south. He said, that they grew whatever they could and traded with other people for things. They made liquor which was a good trade for someones okra or green beans. Four years ago, I bought a 50 plant hydroponic system, that I keep in storage, Just in case. Also, the word community is another facet to survival. People have to come together in groups to provide health care, security, and shelter for the elders and the weak. I think that food and energy production skills will be the most desirable in a bad situation. I have been teaching my self how to build gadgets to produce energy and learning about gardening. Also, requiring that the children participate in the process, so that they will know what to do and can teach others.
I read about the wheel barrow story about Germany inflation. Little did I ever think we could see some thing like that in my country Zimbabwe. We were carrying suitcases full of money to go and make small purchases in the shop.
The trillion dollars which we saw printed eg 50 trillion dollar note with a value of only 2cents in US currency. Imagine.
Stories that I have heard have varied greatly from people hungry without work and unable to support themselves to others who actually moved to suburbs and bought a home and lived a better life than before.
I have been able to meet with a Germany hyperinflation survivor and speak with her repeatedly -- amazing how her parent struggled to find 2 cents to buy rice and couldn't even find the pennies. People used barter rather than cash -- a lesson we all should learn from -- learn skills (how to make things, fix items, etc) because a skill may enable you to get something in return (perhaps food). Her family made socks and traded for food with farmers and other very creative ways to survive during extremely difficult times. She explained how upon going to sleep one night the next mroning the price of a loaf of bread doubled (so almost no one had money enough to buy the bread). The person who would sell the bread could not make money and had too much bread so started bartering for other things they needed and did not have.
Learn to be self sufficient and self relient. Do not wait.
RK is a bottomless pit, after reading all his books, outlining them, being about the same age, and having almost a duplicate history of success and failure, having a financial background, fixing up troubled companies, and having a father who supported nine brothers and sisters through the depression as a young person, I am amazed that RK keeps coming up with new and clear concepts to navigate through the financial world in the most simplified - impossible not to understand language. A True Bottomless Pit of Valuable Information put in context.
I have felt the above problems coming on for years and was given a hugh substance geared view of growing gradually and being productive from my father. Both have proved to be a hugh discipline in my own life. I even moved from a high appreciating area to a slower area which proved to be paradoxically fast after coming out of the latest downturn. The ability to walk away from deals that were ahead of my growth rate, etc.
Government is undisciplined and it suffers from the albatross factor, even Obama said its not a speed boat but a ship that takes along time to turn. It seems he misses the truth that it never turns and he should invest and respect the speed boats, you and I. I believe inflation and devaluation are inevitable.
I found this link to be insightful. Our politicians and analysts keep telling us that recovery is only 6-9 months away. That is only so we stay docile and don't storm the gates in DC. Notice how the housing crisis was only 6 months away from being fixed in 2006/2007? The quotes from the link above are quite telling.
My parents were born in the late 20s, Mother is still here. But mother was a child and does not remember the 30s very much. WWII she remembers.
I remembered my grandparents though, and they always lived what I considered an austere lifestyle. Very Frugal. Took their pleasures in simple things.
I think is not a time for "you" or "me" anymore. But a time for "us". Have you ever experienced the event "Promises, Promises!"? Well it's about this, about fulfilling our own needs, but also thinking on how to help everyone else's needs. I think it is a time where all the great minds and masters embrace their moral leadership and rally a new, better, more conscious way.
There is a group called The Elders, in which Richard Branson (one of the greatest brittish entrepreneurs - www.virgin.com) is participating. I think is a good effort, an example. But not enough for a new beginning. I think it's time for all masters and great doers and thinkers of good will come together, as you Robert, and start developing the foundations of the future to come.
Ponder it for a while. Is it time for you to keep on sustaining this monetary sistem that has proven to become obsolete, or is it time for your great teaching talent and experience to be put on service of the future generations?
Think about it and talk with other great masters like you about it. Visit www.thevenusproject.com and you'll see there a vision that you can help build. It's not mine, I do not work for them, is just something I came to stumble with and stroke something inside me.
Thank you very much for your time,
Isaac
The comments from Robert and the readers make this new book so insightful. To stay on target and keep in short, I've got two stories to share.
I can remember in the summer of 1965 when I finished up working all day in a neighbor's lawn. The neighbor was a couple without children, they owned a plumbing business. The husband was always sharing some wisdom with me and I'm not so sure I understood it at the time. However, these bits of wisdom stuck with me. It was time to pay me for my day of work. He pulled a big wad of cash from his pocket. He then took a single silver dollar out of his other pocket. What he said next didn't sink in for many years. He told me to take a look at the silver dollar and then look at the wad of money. "Our government stopped using real silver to make these last year and someday this silver dollar will be worth much more than a dollar." Then he told me that today's dollar is worth more than tomorrow's... a lesson on inflation followed.
In the early 80's I worked for a company in Munich. I was a representative for them in Florida and the Caribbean. There is a huge difference in the German people between generations. It seems that because of what happened just before WWII with Hitler, parents didn't talk too much about the culture or society to their children. Boomers in Germany generally are detached from their history. Now to the point. It appears that people that had held ownership/shares in companies through WWI, the inflationary depression, and WWII kept up with inflation and actually protected their capital. Looking at Bayern (Bayer, the aspirin people) folks who held their ownership shares got back what was confiscated and actually profited from the growth of the company after WWII.
Today, our world is much different and making decisions on what to do are difficult. Robert, we are looking forward to your next chapters so we can get an action plan going that is both personalized and effective dealing with our future economic situation.
Ditto on that Proverbs 4:7
Hello Kiyosaki,
I'm McMug. I bought "Rich Dad, Poor Dad" in 2004. In the early, I think of My asset Value growth and I've worked until 65 years old.
When I was hard work, afraid of absent. The Summary, I'm repeating to pray of God," I've worked until 65 years old".
Until 2008, I discovered waste cans could sell to recycle shop. The early, I sell cans about HK$1.00. Then, I think about paper, becuase I could take much paper in Hong Kong. The Hong Kong is Commercial place, so it make much waste paper on every day. The first time, I used four days save paper. The result, I sell about HK$8.40. When I was happy, because I take paper more than cans money.
At the time, I visited Uncle home, I discovered him of much paper, I asked them,"Can you let me to sell these paper"? He said,"OK". The result, I sell it about HK$103.00.
At the day, My friend called me,"We had much paper". The result, I used 2.5 hours to sell about HK$230.00.
Although I achieved S quadrant, but I must be worked for money, if I do not work, not income. Then, I discovered small bank provide New Zealand Dollar interest rates was 8.4% and South African Rand interest rates was 7.5%. I sold mutual fund to New Zealand Dollar and South African Rand. The result, I received HK$10.00 interest received on everyday, until 2009, I received HK$10.00 interest received on everyday. I will choose retire on 40 years old. In the future, I will believe retire on 40 years old, because My Fixed Deposit will provide Interest Income On every month. If I will not to work, these Interest Income can cover total Expenses. I will have HK$6,300.00 interest income on each month at 40 years old.
In fact, I was change my thinking, I could read "Rich Dad" series books. Currently, I had 33 pieces of Rich Dad Books. I share quote "Rich Dad" content in sinablog on everyday.
If you any question, please call me:
http://jessekevinsammak.mysinablog.com
Jessekevinsammak@yahoo.com.hk
My story comes from my father's grand parents although I never got to meet them. However, my grand parents told me their story. During that time, the Philippines was under the colonial rule of the United States. When the Great Depression started to be felt in Manila, my ancestors started to flee the capital city of Manila since there was no money flowing in the market. Nobody wanted to spend but just save their money. Some of the relatives went to Lipa City in Batangas province and others in Legazpi City in Albay province. They went their for many reasons, but their common belief is that it time to go back to the basics by become suppliers of basic commodities. Lipa City is a producer of coffee, while Legazpi City is a producer of abaca fiber. My ancestors fought hardships during those time, but in the end, they became successful entrepreneurs after several years.
I learned that it is time to go back to the basics. It is time to make an asset out of "store of value" items such as land, commodities, gold, silver, precious stones, etc.
i am following the advice of various preparedness groups... i have a few more things to do.
I met with a man today who was born in Germany in 1925. He shared with me his experiences.
I asked him several questions;
1) I asked him his age at the beginning of depression, if he recalled when it started and what his family did for work:
-he was 4 years old, his family was common and at 4 years old he remembers something was wrong. His father hadnt had work for a long time.
2) I asked about the onset of the depression:
-he recalls people selling everything and anything to get money. He said people would go into the woods and collect berries and mushrooms to sell. His grandmother would make bread and butter and tell them not to let anyone see them eating. The police would be in constant conflict with the commoners and always break up their meetings. Town was dangerous because of the civil disputes. All gifts were handmade. Heating was difficult, no wood and the coal was of poor quality. He recalls never being warm. They never went out at night. People were looking out for themselves and family, that was it. Heilsarmy (the equivalent of Salvation Army) would try to help people but did not always have the means. This was his recollection of the beginning of the depression.
3) I asked him if there was deflation before the inflation came. He thinks so, but too young to remember, but as he grew older he recalls that a pound of butter once .30 cents was now 100 reismarks. By 1944 a package of cigarettes, once .50cents,or reismarks was $5.00.
4) I asked him if there was an opportunity to pay off old debt with the hyperinflated currency: He said no. The rate of inflation was faster than wages and there was never any money to even buy enough food if you could get it. He said that the foreigners were coming in and buying all of the assetts. They were not liked. The rich all moved eventually.
5) I asked him what the biggest worries were: He said that food shelter, heat and clothing were their worries.
He told me a story about a man going through the streets with a cart selling blueberries and his mother getting a bowl to buy some. When she came in, the bowl was empty, he asked her where the blueberries were and she said he had sold out, but he could still hear the man calling to sell the berries. His mother did not have enough money.
6) I asked him how he would prepare for the same type of depression if one were to happen now and I asked him what he would do differently. He took me downstairs and showed me his food storage, several freezers full of food and the back up power system that he purchased to keep his food frozen for several hundred days. He also stores currency. He believes the same thing is happening now that happened then. He doesn't know if the currency will become valueless. He had his precious metals stolen.
In a week I will meet with his friend who is six years older than he is who remembers the experience also, but who was rich at the time in Germany.
While I have not had the unique opportunity to talk directly with anyone who lived through The Great Depression, I have read many stories of those who have. And even though they all share their differing stories of struggle and heartache during that dark era in American history, I am always inspired by the same common thread that ran through all of them - the indelible human spirit to endure and persist!
Americans especially have a "do whatever it takes" mentality because that's how our great country was founded. It is a part of us. And even though it seems to have been forgotten and lost by many in the basement of comfort and security, when struggle comes again, that box will once again be opened.
Recently, while waiting at the dentist office, I struck up a conversation with the elderly gentleman in the next chair. He was 92 years of age and born in 1916, barely old enough to be aware of the economic conditions of the great depression. He told me he got a job as an engineering apprentice with Caterpillar Equipment in 1935. He had a wife and two kids at the time. He worked for Cat. For 40 years and has been retired since with pension and health benefits. This proves it is possible to obtain work during a depression. It won't be as bad as everyone thinks.
My wife and I have been great fans of Rich Dad, Poor Dad and have read most of your books, I must say they are the easiest read ever, you can not put them down. "Prophecy" wow more like prophectly correct. My education was not very formal, GED in the army, some junior college as a bus admin major. Got into real estate after a broker told me I'd be good at it, and that was our start. This is when I realized how much I did'nt know about finance and money. I started reading about history, economics, tax law, business codes, business entities, etc. and then I discovered your books. Your books do more than just teach, they make you think, thank you.
Chapter four was very insightful, I'm 35, have been laid off, and bankrupt. I feel America is headed down a road of hyperinflation, but despite all the bad news the coming and/or current depression I still fell good about getting out of the rat race. I have learned a lot from reading Robert's books and my own experiences. I look forward to future of opportunity rather than a bleak end.
In the German inflation I heard stories of people getting rich beyond our wildest imaginations.....I have also read about the middle class getting wiped out....In the American depression I have heard about people waiting for hours in soup lines....while Rockefeller, and Morgan got rich (by IN MY OPINION starting the whole damn depression) But my favorite stories are those of people like W. Clement Stone, a salesman, who decided to do take charge over the situation....He looked at his resourcefulness and chose to become rich by selling at a time when most other people chose to became poor by accepting the dogma around them...... Now during this depression more and more people are sitting around waiting for God to give them the answer, to save them.... Unfortunately, those people don't know God.... God, "The Great Spirit", or whatever you choose to call Him....actually is the Great Teacher.... and most people forget, teachers don't talk during test time..... and we are currently being tested.... I will end this with 2 of my favorite quotes
"The strangest secret in the world is we become what we think about." Earl Nightingale "The Strangest Secret" audio CD
"Wisdom is supreme; therefore get wisdom. Though it cost all you have, get understanding." Proverbs 4:7 NIV
So thank you Mr. Kiyosaki for teaching me the wisdom to deal with current situation....I subscribe to Richdad's TV (a $20 a month video service offered on www.richdad.com) and have learned more from watching those videos over a one year period than I learned from 5 years of military service and 4 years in college....I learned that I become rich by thinking about being rich, surrounding myself with coaches from Richdad Edu, and then taking action on what I have learned....You have taught me that Everyone will pay the price to poverty in one of two ways. Through education and experience or through ignorance.....And than choice is up to me and no one else......Your products and seminars seem expensive, but compared to the price of ignorance, The (ROI) of all of your products that I have purchased have been truly infinite. So thanks again for helping me to use the "Strangest Secret" to become rich.
Hello,
My father's father died in 1932 and as a result my grandmother insisted my dad quit school(his freshman year)and help support their family. He worked all manner of odd and manual labor jobs and eventually joined the Army-AirForce during WWII. After the War he married and joined the city's fire department. Our Family was a large Catholic one - he was not able to complete/chose not to complete his formal education. His lack of education severely hampered his self esteem and how he saw the world. Although he tried to self educate himself he usually deferred to those with more education. He resented my grandmother making him quit school but as a result of the depression he seldom went into debt and dealt on a cash-only basis.
It seems that not only in the USA, but also in the UK. Have a look at this hard hitting video clip!
http://www.youtube.com/watch?v=tI_vPDj6mdg
Regards
Andrew
Robert's perspective on the current events is spot on, I believe.
This is a great time to be in simply because we have the choice to educate ourselves in financial literacy. When preparedness meets opportunity is when success happens. There is another book by Robert thats called " The Business School for people who like helping other people". He said if he had to do it all over again he would go to the direct sales industry. Robert and Donald Trump both recommend from their book " Why we want you to be Rich" to get involved in network marketing because it allows a enviorment to which you are excepted warts and all and are mentored through the rough spots till you have the skill set to amass true wealth.
We must unite together as we approach this exciting new wealth transformation. Together everyone achieves more......
My maternal granpa would tell stories that when he was in elememntary school (Japan was governing Taiwan then), he would walk to school in bare feet. He would carry his shoes and put them on at the entrance of the school so that his shoes would last longer.
One of his classmates was a rich man's son. It was during a time when paper was expensive. This rich kid would practice writing Chinese words on a piece of paper and then threw the paper away.
My granpa would pick up the paper and practice writing on it over and over again because he did not have money to buy paper. (My granpa passed away last year at age 92, if you had seen his hand writing, you would have witnessed and felt the strenghth he possessed from within.)
After he learned a trade as a medicine saleman, he would paddle his bicycle from villages to villages, rain or shine, even when it was hailing, market his business. It turned out that his store became one of the biggest stores in the city he lived and supported a wife and seven children.
I never really had a serious talk with him. Being that we are not so close. But I remember when I was working at a travel agency before coming to the US, every morning I would walk thirty minutes to his store and have breakfast at his house, read newspaper with him for ten minutes and caught the train to work.
It was the best memories I had of him.
I was glad that Katie got to meet him before his death. At least Katie knew where I was from and whom she is part of.
My grandmother was always saving. Even re-using aluminum foil. She has not necessarily been fearful, but careful. I got to watch her while I grew up. She taught me about savings in things that make money much like is taught in "Richest Man in Babylon". Living off of dividends and service and food oriented businesses. When rough times hit, people aren't thinking about sex. They are thinking about the next meal and their health.
It took me over 32 years to understand the advice. Stupid of me. But I've learned and its not too late. Seven years of investing in money-making instruments, a great service profession and keeping little cash excepting emergency fund money has been how I've finally put her prudence to work in life.
My parents used to laugh and lament about grandma's ways. You know where they are living now? With grandma. Little retirement and small accommodations and beat up vehicles. Me? One of the homes I've purchased and investments growing.
I didn't laugh at grandma. Just took me a little while to figure it out. I would like to see what's in her safety deposit boxes. Think it may be gold. She probably gave away to me and my siblings all the 2 dollar bills she had.
hi robert and to all your fans! i am one of them. i have read most of your books. i have a great career as a researcher. i am a foreigner living in japan. i am now leaving my comfortable career to get into business as online entrepreneur. i am a bit scared because i am new to this arena but with the knowledge that i have gained from mr. kiyosaki's books and videos, plus other great authors like donald trump, i am confident that i will get to where i want to be in the near future.
thank you my mr. rich dad!
gino510
Many people I talk to,think a great depression,
can not happen: because our "Gov't" ,will save them!!!
I'm getting ready: (1) Stocking Extra food (2) no extra bills
(3) My own online Business-http://www.DoGooder.com-Promoting
information for better world.
Good-Day & Good-Luck!!!
AKA "DoGooder"
Good day Robert
Thanks again for a very helpful insight into the past, present and future.
I live in South Africa the Southern neighbor a once wealthy Zimbabwe. I have traveled to Zimbabwe over the years with various church groups and seen first hand the devastation of a situation of depression (hyperinflation). A wise friend of mine who advises church leaders in the country, said to me "Zimbabwe and what is happening there are a strong warning to the rest of the world" It is very easy to look at Zimbabwe with scorn and look down on them as a passive nation, with a mad dictator President, and not see that the USA and the rest of the world are responding to a financial crisis in a very similar way to Robert Mugabe. i.e. (printing more monopoly money) Zimbabwe apparently now holds the world record for the highest inflation rate. Interesting that you speak about preparing for this scenario. Zimbabwe at one point put their old coins back into circulation, just with a new value. This was a huge win for those who had kept the old "worthless" coins.
The human loss and tragedy in Zimbabwe is staggering. An entire Nation has within a few decades gone to a total meltdown of almost every sector of society. The poor, elderly and middle class have been decimated. Those who could move away have done so, but a global scenario of the likes of Zimbabwe is to scary to contemplate. For sure the only ones to financially survive would be those that had prepared, the super rich and the Godly (like Joseph in your example)
I have already started to prepare by buying silver and gold coins, and looking at other investments and business ventures. My worry also is that I may be preparing a bit late. Also what happens if world governments ban trade in silver and gold coins?
Here are a few interesting notes I have made over the last while on this subject.
http://www.facebook.com/note.php?saved&&suggest¬e_id=58615993829
http://www.facebook.com/note.php?note_id=40860553829&id=609288177&index=5
http://www.facebook.com/note.php?note_id=31997843829&id=609288177&index=11
Kind Regards
Andrew
I have begged my friends and family to move at least 10% of their money in the bank to medals and they look at me like I'm crazy. You are right Robert. Our country is so illiterate.
How should I go about convincing my friends that they need to do this?
My grandparents actually lived through that experience very poorly. As a result, my baby-boomer parents never told me that my financial statement was my real report card!
But that was then and this is NOW! My bottom line is this, I look forward to the coming of the greatest depression in history. Like Robert and his Rich Dad, I can choose daily which side of the table I to sit on. - See you all on the other side of the rainbow!
Over the years, I've known people who lived through that depression. Some lost everything, some profited greatly, some were able to actually live a better life. My ex was able to buy a 192 acre ranch for $3500.00. People who lived on farms did pretty well, for the most part, as they could grow their own food and livestock. The lesson seems to be to be able to take care of oneself and cooperate with others for the good of all.
Thank you so much, Robert, for your courage in writing this book. As mentioned in one of the previous posts, you keep things simple and in context.
A question: What do you think a workable system for sustaining this nation, as well as global prosperity, would look like? How would it work? How would it include all?
Again, thanks so much.
If you think that the Gov don't know what their doing then you're a fool. They know very well what their doing and they do it on purpose. Don't anyone realized that they don't even put any effot at all for solutions or alternatives that don't involve or end in printing more money. Now, the question is why? See the answer below:
http://www.youtube.com/watch?v=eAaQNACwaLw
It amazing how intertwined the world economies are and the folly of most of its leaders. Coming from a small country that has benefited extremely from the now fading oil boom and whose dollar is pegged to the US dollar, we see double digit inflation, non-substantial development of other economic sectors, huge buildings with a questioned health sector, traffic that no island should experience and bail outs of companies for doing wrong! As we host the 5th Summit of the Americas I await to hear what our leaders come up with to tackle this global crisis.
I strongly believe though that maybe a copy of RK new book(any of his books for that fact) should be put under the pillows of each leader.
Robert fails to mention in his books that not only are depositers paid in interest much less than borrowers are charged in interest.....The banks loan money than is created out of thin air right when the loan is made. The money is not totally money already deposited in the bank.
Good debt and bad debt doesn't apply under our current system as the banks operate under perpetual fractional reserve....so all debt from them is bad. Good debt occurs between individuals who put up their own hard earned cash........ instead of bankers who create money out of thin air and loan it out....with interest due.
Robert has great insight and is doing a great service...but he still should acknowledge that "cash" flow models don't work forever in a fiat monetary system when people realize that the "cash" is paper money that has no instrinsic value.
Although Robert is "late" to the Gold Standard Party.....his current work shows that "better late than never"...(Most Republicans say they are conservative. They are not because they believe in borrowing money we do not have ....just like the Democrats. Ron Paul is the only true conservative in Congress. Please join campaignforliberty.com if you believe in sound money which is why Ron Paul go into politics.....because Nixon got us off the gold standard)
When Robert told Larry King that the best currentl investments were gold and silver....then real estate....I jumped out of my seat and roared. When he said the cause of our current crisis was the Federal Reserve System....again...I jumped for joy. Robert is a true patriot along with all the goldbugs throughout history that know that you cannot create wealth...for a society via a Helicopter Ben Printing press (Ben Bernanke has said publicly that if necessary he will order crateloads of currency to be dropped from helicopters for people to grab up and "use".)
So lately I find myself torn. This is not so much of a "what have I learned about past depression" as much as how to approach the possible current one. I see all the current events that are going on and image the possibilities. But I like what I would believe many of us out there am an average person with a what may be described as a typical situation. Let me explain.
I have some savings, for me it is a decent amount. But it is just sitting in my bank getting eaten alive by inflation in my opinion. I own a small amount of gold and silver, as a hedge and potential barter. I own 1 investment rental that pays for itself. But I have debt, I have a mortgage, some credit card debt and a small, small business loan. So I look at our current economic situation and I wonder what can I do to protect my family. Is all this work I am putting in this small business I have all for not. It pretty much is a job, not a real business, I just own it. I believe in networking and a possible direct marketing as an avenue for income but is there really any reason to start one now. I just feel like(emotionally) I should be hording food, canned goods and getting ready for the storm. I know that is wrong way to approach but I don't know the right way. I want to be proactive and get myself in a good situation but I don't know how to go about that. I do not want to live in fear and its not that I am, I just rack my brain and try to think of what I can do to make my situation better and I just don't get anywhere.
If anyone else may have some advice that would be great. I am not the best idea man, but I can implement things and make them happen. So maybe someone out there can tell me what they are doing and why they think that is right? Maybe networking or direct sales could work, maybe I need a heavier position in gold & or silver, maybe who knows. I am just kind of throwing out feelers here, I am not looking for the golden ticket. I just want to see what others are doing and pull some ideas together. Would love to hear from other like minded souls.
In my conversations with my grandfather, who was born in 1919 and came to Chicago to escape the Jim Crow south. He said, that they grew whatever they could and traded with other people for things. They made liquor which was a good trade for someones okra or green beans. Four years ago, I bought a 50 plant hydroponic system, that I keep in storage, Just in case. Also, the word community is another facet to survival. People have to come together in groups to provide health care, security, and shelter for the elders and the weak. I think that food and energy production skills will be the most desirable in a bad situation. I have been teaching my self how to build gadgets to produce energy and learning about gardening. Also, requiring that the children participate in the process, so that they will know what to do and can teach others.
Emherman makes a great point. Gold can be seized...as can real estate. What then? Any thoughts?
I read about the wheel barrow story about Germany inflation. Little did I ever think we could see some thing like that in my country Zimbabwe. We were carrying suitcases full of money to go and make small purchases in the shop.
The trillion dollars which we saw printed eg 50 trillion dollar note with a value of only 2cents in US currency. Imagine.
Stories that I have heard have varied greatly from people hungry without work and unable to support themselves to others who actually moved to suburbs and bought a home and lived a better life than before.
I have been able to meet with a Germany hyperinflation survivor and speak with her repeatedly -- amazing how her parent struggled to find 2 cents to buy rice and couldn't even find the pennies. People used barter rather than cash -- a lesson we all should learn from -- learn skills (how to make things, fix items, etc) because a skill may enable you to get something in return (perhaps food). Her family made socks and traded for food with farmers and other very creative ways to survive during extremely difficult times. She explained how upon going to sleep one night the next mroning the price of a loaf of bread doubled (so almost no one had money enough to buy the bread). The person who would sell the bread could not make money and had too much bread so started bartering for other things they needed and did not have.
Learn to be self sufficient and self relient. Do not wait.
RK is a bottomless pit, after reading all his books, outlining them, being about the same age, and having almost a duplicate history of success and failure, having a financial background, fixing up troubled companies, and having a father who supported nine brothers and sisters through the depression as a young person, I am amazed that RK keeps coming up with new and clear concepts to navigate through the financial world in the most simplified - impossible not to understand language. A True Bottomless Pit of Valuable Information put in context.
I have felt the above problems coming on for years and was given a hugh substance geared view of growing gradually and being productive from my father. Both have proved to be a hugh discipline in my own life. I even moved from a high appreciating area to a slower area which proved to be paradoxically fast after coming out of the latest downturn. The ability to walk away from deals that were ahead of my growth rate, etc.
Government is undisciplined and it suffers from the albatross factor, even Obama said its not a speed boat but a ship that takes along time to turn. It seems he misses the truth that it never turns and he should invest and respect the speed boats, you and I. I believe inflation and devaluation are inevitable.
From that link above, note quote #20. As the trend to run to gold accelerates, the government has a fix for that as well. Gold can be seized.
http://greatdepression2006.blogspot.com/2007/08/famous-quotes-from-past-...
I found this link to be insightful. Our politicians and analysts keep telling us that recovery is only 6-9 months away. That is only so we stay docile and don't storm the gates in DC. Notice how the housing crisis was only 6 months away from being fixed in 2006/2007? The quotes from the link above are quite telling.