Podcasts about kiyosaki

Beaucoup d'entrepreneurs disent qu'on ne peut pas refuser une vente. C'est faux!Tu as sûrement déjà accepté un client en ignorant la petite voix dans ta tête qui te disait de ne pas t'embarquer là-dedans...Ta récompense, pour ne pas avoir écouté ton intuition, fut des semaines de maux de tête et de stress au coeur d'une relation énergivore et désagréable.Depuis 2008, j'ai développé une vision claire de qui sont les bons clients (clients riches) et de qui sont les clients à éviter (clients pauvres).J'ai compris (même s'il m'arrive encore de faire des erreurs) qu'apprendre à dire NON est essentiel à la pérennité de ton entreprise.Dans cet épisode du Pascal Jette Show, je te partage un concept qui va changer ta façon de filtrer tes prospects: le client riche versus le client pauvre.Au programme de cet épisode:Les red flags absolus: comment repérer un client "pauvre" avant même qu'il ne sorte sa carte de crédit.Le filtre automatique: ma méthode pour n'attirer et ne convertir que des clients riches (ceux qui appliquent et obtiennent des résultats).Mes erreurs de parcours: les anecdotes concrètes de ma carrière depuis 2008 qui m'ont coûté cher, pour que tu puisses les éviter.Arrête de sacrifier ta paix d'esprit pour un virement Stripe!

Most people say they can't find the right mentor. The truth? They're not ready — and they're not qualifying. In this episode of the Abundance Mindset Podcast, Vinney Chopra and co-host Gualter break down Wealth Principle 30: learn to attract the right mentors.   Vinney shares the full origin story — arriving in America with just $7, knocking on doors 13 hours a day selling Bibles and encyclopedias for the Southwestern Company, and how seven books became his first mentors. He tells the story of his 40-year mentor, billionaire Spencer Hayes, whose business card simply read "Salesperson." Then he gives you the practical framework: how to qualify a mentor, how to make yourself worthy of one, and why "if the man is right, the world is right."   If you're building in real estate, raising capital, or just trying to get to the next level — this one's for you.   ⏱️ Timestamps 00:00 — "When the student is ready, the mentor appears" 00:50 — Wealth Principle 30: attract the right mentors 01:20 — Inside the 9-year mastermind (4 PM PST Wednesdays) 01:50 — Arriving in America with $7 — a Hindu man selling Bibles 02:30 — The 7 books that became Vinney's first mentors (Peale, Rohn, Carnegie, Dyer, Kiyosaki) 03:00 — 80-hour weeks knocking on doors in Atlanta 04:00 — Closing the engineering career: "I'm a salesperson at heart" 04:30 — Spencer Hayes: the billionaire mentor and the Park Avenue penthouse 06:00 — The business card that just said "Salesperson" 06:40 — Vinney's 5 books (including Hospitality Investing Made Easy) 08:00 — How to actually qualify a mentor (do they have the track record?) 09:00 — Introspection: finding the need within 10:00 — "If the man is right, the world is right" — the puzzle story 12:00 — Being open and worthy enough to be mentored 13:00 — Don't give up + the Tony Robbins lesson 13:30 — Find the top mentors in your business and study their path 14:30 — Hospitality is the name of the game right now 15:00 — "Bring the seed, not your need"  

Sponsored by Count — a tool we recommend for better financial tracking and clarity   Learn more: https://www.getcount.com/us/partners/SoundFinancialGroup   Robert Kiyosaki helped change how millions of people think about money. But what happens when a voice that once educated and empowered starts leaning into fear-based predictions?   In this episode of More Than Commas, Paul takes a closer look at Kiyosaki's evolution—from the impact of Rich Dad, Poor Dad to his repeated market crash warnings—and breaks down what he predicted vs. what actually happened.   More importantly, we explore how these narratives can influence investor behavior, why fear-based messaging spreads so easily, and what investors should focus on instead to build real, long-term wealth.   -- Timestamps: 00:20 – The impact of Robert Kiyosaki's early work 01:01 – When the message began to shift 01:09 – From education to fear-based predictions 01:21 – What this episode will break down 01:46 – Why his early contributions still matter 01:53 – The success of Rich Dad, Poor Dad   #investing #stockmarket #financialeducation #wealthbuilding #longterminvesting    -- This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Insurance products and services are offered and sold through Sound Financial Inc. dba Sound Financial Group and individually licensed and appointed agents in all appropriate jurisdictions. This podcast is meant for general informational purposes and is not to be construed as tax, legal, or investment advice. You should consult a financial professional regarding your individual situation. Guest speakers are not affiliated with Sound Financial Inc. dba Sound Financial Group unless otherwise stated, and their opinions are their own. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. Past performance is not a guarantee of future results.

Are you making money… but still feeling broke in your business? In this episode, Dominic Rubino breaks down how contractors can go from cashflow stress to real profit power using simple systems and proven financial thinking. Inspired by lessons from Dave Ramsey and Robert Kiyosaki, this episode shows you how to take control of your money and start building long-term wealth.

“Presence is what remains when you strip away all the noise, all the excess.” In this episode, Nick speaks with Dre Baldwin about his journey from basketball to internet entrepreneurship, emphasizing mindset, self-awareness, and overcoming challenges. Listen in to discover how his experiences shaped his approach to self-mastery and success. What to listen for: Dre Baldwin’s basketball career and transition to entrepreneurship The importance of mindset and self-awareness in success Lessons learned from sports and their application to business The role of discipline and resilience in overcoming challenges Strategies for personal growth and self-mastery “You can have all the right skills, desire, motivation, and resources, but if you’re in the wrong vehicle, you will not get to where you want to get to.” Knowing where we want to go is incredibly important to continuing on the right path Sometimes our “right path” is only really just a leg of the journey, and discernment is important to keep on that path or not This also urges us to consider what we really want and to look at the “vehicle” we're in, honestly and without bias or interpretation. “To get to the actual issue, you really have to find out who’s the person behind the issue. Who’s the person behind the problem?” Looking deeper than the surface at our “why” with our goals and pursuits is critical This speaks to ourselves as well as the people we interact with and work with Getting to know a person, or ourselves, deeper ties in wants, hopes, dreams, motivations, and understanding the person behind the problem helps us understand context. About Dre Baldwin Dre built Work On Your Game® to turn disciplined execution into dominance. A 4x TEDx speaker and 43-time author, Dre played pro basketball for 9 years. Today, he helps experts and entrepreneurs install mindset, systems, and strategy to scale from six to seven figures with presence and power. http://DreAllDay.com http://LinkedIn.com/in/DreAllDay http://Instagram.com/DreBaldwin https://www.workonyourgame.com/ Resources: Check out other similar episodes: The Greatness Inside Of You Like A Superstar Athlete With Darlene Santore How To Not Rush Through The Trauma Storm With David Kitchens Interested in starting your own podcast or need help with one you already have? https://themindsetandselfmasteryshow.com/podcasting-services/ Learn more about our host, Nick McGowan. Thank you for listening! Please subscribe on iTunes and give us a 5-Star review! https://podcasts.apple.com/us/podcast/the-mindset-and-self-mastery-show/id1604262089 Listen to other episodes here: https://themindsetandselfmasteryshow.com/ Watch Clips and highlights: https://www.youtube.com/channel/UCk1tCM7KTe3hrq_-UAa6GHA Guest Inquiries right here: podcasts@themindsetandselfmasteryshow.com Your Friends at “The Mindset & Self-Mastery Show” Click Here To View The Episode Transcript Nick McGowan (00:00.206)Hello and welcome to the Mindset and Self-Mastery Show. I’m your host, Nick McGowan. Today on the show, we have Dre Baldwin. Dre, what’s going on, man? How are you doing? Dre Baldwin (00:11.005)I’m doing great, Nick. How about yourself? Nick McGowan (00:13.004)I’m good. I’m good. I’m stoked that you’re here. I think it’s gonna be a really good conversation. I told you right up front, I missed the memo for the suit. I’m sorry. But I appreciate you showing up and looking how you are. One of the things that stood out to me when you were your team member reached out about you being on the show was your history in basketball. And being able to tie that into the work that you’re doing now, and how your pursuit of your own version of self mastery has really flexed through every single bit of this. So I know there’s a lot of stuff that we’re gonna get into, but that’s one of the main things that really stood out to me. So I’m excited that you’re here. I always like to get things started though with telling us what’s one thing that most people don’t know about you. It’s a little odd or bizarre and what do you do for a living? Dre Baldwin (00:59.369)One thing that’s a little out of bizarre. once went out on a date with a woman who turned out to be a man and What do I do for a living is I hope I get to give context to that. But anyway, what do I do for a living is We have high level professionals with structured execution if I put it in the one statement Nick McGowan (01:12.75)Yeah. Nick McGowan (01:20.218)Cool. I appreciate that. I’m still chuckling a little bit like who in their right mind wouldn’t give you the platform to like follow up on that? Because the first thing I want to make sure is that you’re not saying it in a really hateful way. I assume that’s not the case. And based on what I know of you, that doesn’t seem to be the case. But again, who in their right mind be like, Nope, we’re leaving that they’re just gonna fucking cliffhanger. So go on, tell us the story. Dre Baldwin (01:27.622)You Dre Baldwin (01:46.739)So this is about, I was about 19, 18, 19 years of age. So we are both from the Philadelphia area. And every year in the summertime in Philadelphia, there’s this event called the Greek Picnic. I don’t know if you knew about it. So the Greek Picnic is all these fraternity and sorority organizations, usually the black fraternity sororities, they all have this big event down at, I think it’s the Belmont Plateau in Philadelphia. Then that’s during the day, the picnics during the day. Then at night, everybody goes to this place called South Street. Nick McGowan (02:10.392)Mm-hmm. Dre Baldwin (02:16.553)And South Street is a place in Philly where everybody just goes and walks. So was kind of like Times Square in Manhattan, the Strip in Vegas, Ocean Drive in Miami Beach. You have South Street in Philadelphia. So I did not pledge in college, but every year, even since I was in high school, we would always go to South Street and 90 degree picnic because everybody’s out there. It’s kind of like New Year’s Eve, Times Square. Everybody’s out there. It’s hard to drive, but there’s so many girls out there. You go out there just to talk to girls. So we go out there and talk to girls and I meet this girl. She was interested in me. I’m interested back. So we exchange phone numbers and all of that. And she lived all the way down there near South Street. I lived up in the upper Northwest part of the city. I go and see her. didn’t actually go on. It technically wasn’t a date. We didn’t go anywhere. I just went to her house. We were basically sitting on the steps talking, but we sat there and talked for an hour or two. She had a roommate. Her roommate came by. She went, goes into the house and another guy while I’m sitting there talking to her, another guy comes up. He goes in to see the roommate. So anyway, we have the conversation, whatever I leave. And a couple of days later, I’m talking to this girl on the phone and I think she noticed my naivete. And she said to me, Dre, I want to let you know something. She said, I’m a pre-op transsexual. I didn’t even quite know what that meant. And I was like, what does that mean? I did know, but I didn’t know. So I had her spell it out. And she said, no, I’m guy, I’m not as endowed as you, but I haven’t had the operation yet. And I just didn’t know. My vision was not. tuned enough to have noticed this when it was all happening. And then I was thinking, I was like, well, what about that guy who came by while we were sitting on your steps, who went in the house to see your roommate? Because a roommate was the same thing. Also preop transsexuals. said, well, yeah, he knew the deal. So I guess he thought I knew the deal. I didn’t know the deal. So this was my learning of finding out what the situation was. So that’s the story there. That was 19 years of age. I’m 44 now. Nick McGowan (04:04.396)Man. Yeah, how old are you? All right, cool, I’m 41. So back then, that you really had an opportunity to be a fucking asshole about it. There’s a lot of people, especially in the Philadelphia area, that would have been so pushed away from that, even gotten violent, and really become hateful with it. And a lot of it was normal back then. There was just hatred of other people and just… just bullshit and especially with guys from the area, we would just be douchebags to each other. And then if something like that happened, like your boys could be after you because of it or whatever. So what a cool thing for you to not be a complete fucking asshole about it. Only for years later to understand like that is, that’s gotta be a big, big life transition for people and to not even think about it from their perspective. Like that’s awesome that she said, this is what’s going on. This is where I’m at. That took a lot of courage to even say that and a lot of courage to step out, you know. Dre Baldwin (05:10.899)Yeah. I guess so, because I think she could tell that I didn’t know. So I think most of the time back then, because we would go to South Street all the time and you would see these cross dressing men walking around. And what would happen is men would drive by in cars and I say those are men and laugh and joke and all that and just drive by. And but you could tell even from across the street, like that’s a man. She had it done well enough that I didn’t know. And I had a couple of my boys with me when I met the girl. None of them said anything. So Nick McGowan (05:25.464)Mm-hmm. Dre Baldwin (05:43.294)They didn’t know. And when I told them, they made jokes about it at the, weren’t around the girl. They made jokes about it with me. I didn’t, I just didn’t even notice. But back then with us, it would be like, okay, you could tell that’s a man. We just keep going. But I think they knew the woman or the man dressed as a woman, whatever you want to call this. They would talk to men who knew the deal. And that was just, they were just cool with it. Like that guy who walked into the house while I was there, I guess he just knew. I just didn’t know. And back then it wasn’t even a thing that we were thinking about, not the way it is now. We weren’t thinking about it in that way. Now it’s much more open. But back then for me, it was something I had never come across. Nick McGowan (06:21.452)I always find it interesting how people choose to answer this question and like what the thing is like I even said before we hit record like just don’t tell me your favorite colors purple or something like that so I always appreciate when people bring something up because there’s some some reason for that like that must have shaped you in some sort of way so even if it’s a subconscious thing that yeah it shaped me but you know I really think about it too too much in this context of this conversation as we talk about that how has that actually shaped you And way that you look at not only people and their choices, but yourself and how it’s kind of folded within your life. Dre Baldwin (06:57.577)Hmm. It’s an interesting question. I never thought about it like that. I always looked at it like a, it’s like a funny thing to me. That’s the reason why I bring it up. Yeah. The other thing, other thing I thought about was I once was in a hot dog eating contest. I think this is a little bit more depth. So that’s why I went with that one. But for me, I never, I never really think about it except when I’m bringing it up, like, Hey, this is, appearances can be deceiving. And nowadays it’s kind of come full circle because now no LGBTQ is a big thing. But in this is what Nick McGowan (07:02.99)Snapple fact sort of thing, Nick McGowan (07:11.279)Hahaha Dre Baldwin (07:26.665)19, this is like 2000 around 2000 2001. It wasn’t a big thing. We knew it existed, but it was way in the shadows. Then as opposed to how it is now. I don’t know how it has affected me subconsciously. I’ve been stopped approaching girls. I kept doing that. So I don’t know. I can’t answer that question. Nick McGowan (07:43.534)Yeah, I appreciate. I appreciate the honest answer. You know, like even it might be something where like down the road you realize, maybe it shaped me this way. And it’s also, it doesn’t have to, you know, that might be one of those things where like, made you kind of look a little differently at things. I find it interesting how some people like your boys, your friends would talk shit or say whatever. And maybe some of those maybe didn’t understand exactly what was going on, but we’re trying to fit within the system of things and like, let’s have these conversations. So I always think this stuff can shape us in some sort of way, because it was just a little different or abnormal or whatever. Sometimes the meaningless things in life are the things that can mean a lot to us or the like random happenstances of things. But it’s funny pointing out like, even with South Street and how South Street is like Times Square. I’ve never thought about that, but I lived on Fitzwater for a little while. like right off of South Street for a while. Yeah, I was actually explaining to my partner recently. I was like, when we go to Philly, we’ll have to go to South Street. South Street is like a long street where you walk in their stores. She was like, that sounds like a normal fucking street. Like, but it’s more than that, you know, so I’m going to use the Times Square thing. But that’s cool. Yeah, exactly. Some people don’t know the ocean drive thing, but like, I get that. Man, so I appreciate bringing that up with Dre Baldwin (08:40.499)Yeah, that’s right there. Dre Baldwin (08:56.809)Alright, four O’s in draft. Yeah. Nick McGowan (09:09.782)the path that you’re on now and the business that you’re on, I think one thing that we could easily skip past is that you spent, what was it, nine, 10 years playing professional basketball? Nick McGowan (09:22.925)So I have never been a professional athlete. I remember wanting to be a professional, a couple different things, you know, as a kid, just like people are like, I want to be a rock star, I want to be this, I want to be that. There’s a level of discipline. There’s a level of belief in yourself, confidence, and like fucking around and finding out to be able to execute on stuff like that. Even if you didn’t get into the NBA or if you were the fucking, I don’t know, you turned into Kevin Durant or whatever, like there’s a lot that you actually went through to figure out. what is it that I want out of life? And you started to do that early on, but you’re not doing it at this point. So I’m interested in how that shaped you. like, tell us a bit about the journey and how that actually led into what you’re doing today. Dre Baldwin (10:04.905)Great question. So it started with, let’s just go back to childhood, always in the sports. And I was playing, one of the first lessons I learned was getting into the proper vehicle. So I was playing baseball for several years. And I realized by the time I got to about right before high school, and this is because when you first played baseball as a kid, you had T ball, you just hit the ball off the tee. Then you have a pitching machine. You know the pitching machine where the ball goes to the same spot every time. I got pretty good at the pitching machine baseball, but then when we had to play against real live people throwing the ball, I couldn’t hit the ball. I probably had a little bit of fear of the ball. So I was never good at hitting and my fielding wasn’t even that great either. So I realized, okay, I’m not going to go too far in baseball. No matter how hard I try at this, I just don’t have the natural inclination, but I was still into sports. So then I moved over to basketball and I started off not good, but I could feel myself getting better at basketball and I stuck with it. And eventually came to what you mentioned. The thing is, later on, looking back, that’s when I realized this principle that I tell people about all the time nowadays is called the right vehicle. So you can have all the right skills, desire, motivation, and resources, but if you’re in the wrong vehicle, you will not get to where you want to get to. And for some people, the right vehicle is playing baseball. For some, it’s basketball. For some, it’s not sports at all. For some, it’s analyzing sports. You can be a podcaster or a YouTuber. For some people, it’s not being in the sports realm. It’s doing something different. Not everybody can do everything even if you put the same amount of effort in. So that’s the first principle I got from sports. Looking back, I didn’t realize that when I was 13, but I realized it later. Then moving on, barely playing in high school, played one year, sat the bench. My going to college, I went to a Division III college. So anyone who doesn’t know sports, the guys you see on TV, that’s Division I. That’s football, basketball, that’s Division I. Division II is right under that and Division III is down in the basement. And the players in Division 3 don’t usually think they’re going to make it pro. A lot of them will say they think they will, but they don’t really believe it because I’ve always been a believer in it. You want to know what somebody believes, that’s what they do. Don’t listen to what they say. And coming out of a Division 3 school, nobody’s calling you to go play pro, most players, even if you were pretty good because you’re playing against other guys who are not pro caliber. So when I got out of college, nobody was calling me. I had to go to these events called exposure camps. You ever heard of those? Know what they are? Nick McGowan (12:18.701)Yeah. Nick McGowan (12:25.942)No, but I would assume it’s like a talent sort of thing where scouts get together and see what you can do. Yeah, cool. Dre Baldwin (12:30.621)Yeah, casting call, a job fair for athletes. And it’s rough because you got 200 guys who all think they should be playing pro, all trying to prove themselves at the same time. And that’d cool if we were playing golf or tennis, but basketball is a team sport. So you’re playing on the same team with five other guys who all think they should be playing pro too. So everybody’s trying to show off. So it’s not the normal type of basketball. It’s not like everyone’s playing selfless basketball because they’re all trying to show off. I went to several of those over the course of my career, but Nick McGowan (12:49.474)Yeah. Dre Baldwin (12:58.727)The first one I went to led to me getting on and getting my first opportunity playing basketball. And in that experience, it was really about investing yourself. Let me tell you how I ended up at that event. So I’m from Philadelphia. The event was in Orlando, Florida. And this is the summer of 2005, graduated college in 2004. The event was not free. You pay $250 to go to the event. I reached out to the event organizers about a month ahead of time and asked them, would it be OK if I pay the event fee? in cash at the door because I did not have a credit card or a bank account at the time. So I had to pay them in cash. They said, yes, you can pay in cash at this time. I’m working at a gym called Valley Total Fitness. I don’t know if you remember them. They’re out of business now, not because of me. I made a lot of sales and at Valley that the commission checks came on a certain Friday every month. I had I didn’t even have to work that day. I had to negotiate with my boss to get the weekend off because the event was Saturday and Sunday. Nick McGowan (13:37.775)yeah. yeah. Yeah. Dre Baldwin (13:55.038)I’m in Philly. We’re going to drive me and a couple of college teammates who are also ambitious. We’re going to rent a car in Philly and drive to Orlando. That’s a 19 hour drive. For those who don’t know the geography, I had to go to my job though first and wait for the DHL truck to come because the DHL guy brought the commission checks. I needed that commission check because I had to go around the corner to the Chinese store and cash it. So I had to cash to pay that $250 at the door. That was my last $250 at this time. I’m living in my parents’ house. I’m working at Valley Total Fitness. have a college degree, but I don’t have anything going on. I spent that 250 at the door and I had to do something over that two day camp to get my first opportunity. So that was really about investing in yourself and really putting your back against the ball. And then you got to perform when it matters. That camp is only two days. It’s not like you have a month to prove yourself. It’s two days. And I played pretty well there. Got my first job. That was 2005. Moving on, fast forwarding in this story, there that Nick McGowan (14:42.498)Yeah. Dre Baldwin (14:51.751)basketball career wasn’t some smooth up into the right process. There’s a lot of people here, professional athlete. Now you’re an entrepreneur. So they think, okay, well, I guess it was easy for you once you got on in sports. But no, there were many times that, how do I better explain it? When there are people in acting, let’s say in the movies, you have your Leonardo DiCaprio’s or Scarlett Johansson’s, they get $50 million to do a movie Will Smith. And no, they don’t do a movie for a year or two. They’re okay. Most actors and actresses careers don’t go that Nick McGowan (15:18.509)Mm-hmm. Dre Baldwin (15:21.159)Most actors and actresses in between movies, what are they doing? All right, they’re bartending, they’re working at Starbucks and they’re bagging groceries. They don’t know if they’re gonna get another job. They are going from casting call to casting call, hoping to get an opportunity to get on. And in sports is the same way. Not every athlete is LeBron James or Lamar Jackson. A lot of athletes are on the fringes, meaning you have a job then you don’t. You’re waiting for your agent to call. You have to stay in shape just in case the call comes, if the call comes. Nick McGowan (15:24.664)Part-time job. Yeah. Thank Nick McGowan (15:34.755)Yeah. Dre Baldwin (15:49.546)Then when it comes, you don’t know how long you’re going to be there because you may face the squeeze on the roster and you’re the one who gets squeezed, not because you can’t play, but because it’s just a numbers game. So a lot of times in my career, even playing overseas, it can be like that. So there are a lot of times in between jobs over the course of my career, I played on a different team every year. I never played in the same team twice in a row or twice total. Every year was a different team, every year, a different country because in between job and in between jobs, didn’t know where the next job was coming or if the next job was coming. Nick McGowan (15:58.05)Yeah. Dre Baldwin (16:18.569)There are times where I had to go get a job because there was no job. So the last time I had it, I went and got two more jobs in between the start of my career. My last job was in 2007. I signed in Montenegro 2008. Haven’t didn’t work a quote unquote regular job after that. That was because I was on this new thing called YouTube. And that’s where I started to build my brand. And that’s where I realized about 2009, 2010, I was putting basketball video content on the internet. That’s when I realized. What I’m doing here on the internet is gonna be bigger than what I’m doing on the basketball court. Even though my content was basketball, it was the internet that was amplifying my name. So if I go to the mall right now today in Miami and somebody recognizes me, it’s not because I played in Slovakia for six months. It’s because I was on YouTube for 10 years making that basketball content. That’s where people know me from, is from YouTube. And I knew back then, I said, this internet thing is gonna be bigger for me than anything I’m doing on the court. And I was right about that. Nick McGowan (17:00.983)Hehehe. Dre Baldwin (17:15.625)At that time, I finished reading this book called The Four Hour Workweek by Tim Ferriss, I’m you’re familiar with. And in that book, Tim was talking about how you can take an idea and start putting on internet and make money from it. I followed his advice and I started selling $5 training programs to basketball players. That’s where I knew my future was in internet entrepreneurship, or entrepreneurship powered by the internet, let’s put it that way. Harking back a little bit in the story, about 2002. I people can keep up with this timeline. know I’m jumping a lot here. About 2002, I got introduced to a business opportunity. It turned out to be network marketing. I did not build a career in network marketing, but I went to some meetings. And I’m forever grateful for the meetings that I went to and the dabbling that I did in network marketing, because it teaches you a lot about entrepreneurship. It teaches you a lot about how to make money other than a traditional nine to five job, which is what my parents had. That’s all I knew until then. And also you learn a lot about people when you’re… trying to sell them into a network marketing opportunity. So you want to know about yourself too. And as a great sales crash course. in there, two things I got from that. Number one, well, three things. Number one is the entrepreneurship. Number two is that they mentioned these books. They would say personal development, personal development. You got to do the personal development. And they would just mention the names of these authors who I’d never heard of. They would say Tony Robinson, Jim Rohn, and Brian Tracy, and Napoleon Hill. And I’m like, who? I never heard any of these people. Nick McGowan (18:17.442)Yeah. Nick McGowan (18:29.475)Mm-hmm. Dre Baldwin (18:39.475)But I remembered the names. I couldn’t afford the books. They were selling them right outside the hotel room. I couldn’t afford them. But I remember the names. So I went on eBay. So again, those of you old enough, eBay before Amazon was the place you went to eBay to buy stuff. Went on eBay and I bought two pirated copies of two books that I could remember. One of them was called Think and Grow Rich by Napoleon Hill. And I bought that book. It showed me that there is a way that you could intentionally alter your conscious thoughts that would alter your behavior and thus alter your outcomes. And he was right. Nick McGowan (18:51.47)the Dre Baldwin (19:08.839)And other book I bought was called Rich Dad Poor Dad by Robert Kiyosaki. And that book told me, there’s another way that you can actually be an adult and make money other than what I saw the adults around me doing. And the reason why I was so inclined to look at what Mr. Kiyosaki was saying is because my parents showed up every day, did their jobs. They never bragged about it. They never announced it. They did their work every day. The reason I am Nick McGowan (19:19.255)Okay. Dre Baldwin (19:35.038)what people will call a disciplined person to this day is because the example that I had at home from my parents. At the same time, the adults around me talked about work as a necessary evil. It wasn’t, get to go to work. It was, have to go to work. They talked about their jobs as if it was a somewhat negative thing, good because it paid the bills, but negative because they didn’t really like it. And they didn’t really like the people they had to deal with. And I was looking at them thinking, okay, well, I graduated from college. I guess I got to go do maybe a little bit better version of what they’re doing. Nick McGowan (19:45.42)Mm-hmm. Dre Baldwin (20:03.431)But when I read Kiyosaki, he said, there’s another way to do it. And anybody who’s read the book knows he’s juxtaposing his real dad who had a great education, went and got a job and his friends, best friends, dad, the rich dad. He was the one who dropped out of school, but was a business owner. He owned assets and he made money. He seemed happy about going to work. Whereas his poor dad, his real dad got kicked out of the system when he got too old and too expensive for the system. So that put me onto that. And that I got all that from network marketing. Anyway, combined that with Tim Ferriss. seven, eight years later, combined that with the internet, combined that with social media and basketball, that’s where I started to build what became my company, which was helping basketball players at first, and it transitioned into where we are today. Let me jump again in the story. 2015, I’m looking at the end of the road. Okay, I’m going to get out of basketball. What am I going to do next? So at this point, I was starting to make these mindset videos where basketball players who are watching me, my material was all basketball for about the first five years, 2005 to 2010. The players started asking me about mindset because they saw I was putting out videos every single day before that was a normal thing to do. Nowadays, that’s normal. But back then it wasn’t normal. So they’re like, why are you going to the gym every day to work out? Sometimes because I would tell them where I who I was. Division three, Kyle is playing overseas right now. I’m unemployed. You don’t even know if you get another job, Jerry. Why do you keep working out? How do you keep yourself motivated? Or you got cut from your high school team three times like me. Nick McGowan (21:10.968)Mm-hmm. Dre Baldwin (21:28.753)How did you keep going when you got cut and there was no right at the end of the tunnel? And I started talking about things like discipline and confidence and mental toughness and being prepared and how you had to take negative situations and use them as fuel for positive action. And I called it the weekly motivation. And what happened is a bunch of people who didn’t play basketball started finding me there. That’s when I knew, okay, I can take this aspect of what I’m doing and I can serve people outside of the realm of sports, even when I don’t play anymore. Because I knew that if I stopped playing basketball every day and putting these videos out, my $5 products are going to stop selling. I could read the writing on the wall. I saw how it worked. I could tell you that 15 years ago. People are now realizing it now on TikTok, but I knew that back then. So that’s how I knew what I was going to do next. I need to take this mindset stuff, and I’m noticing people who don’t play basketball need it. And that’s what became what I do today. So that was 2015, and now here we are. So let me stop my story so you can get back to ask some questions. Nick McGowan (22:04.782)you Nick McGowan (22:28.078)Like a true professional, ladies and gentlemen, somebody who’s been on many podcasts. I always look for what are the main components of these things. And one of the biggest things that I have learned from being specifically on this show and running this show for four plus years is if you don’t have awareness, you can’t do anything. You just can’t. If you’re not aware of something, you can’t do anything with something you’re not aware of. And a lot of people will push their awareness off like the people that hate their jobs, you know, I got to go to my job. It’s got to pay for things. There can be a level of awareness to go, but wait a minute, fucking time out. If I don’t like this, why don’t I do something else? You and I experienced similar things where people just bitching complain and just fond of bitching complain. Then they belly up to the bar at the end of the week and drink through the weekend and then bitching complain throughout the week and just rinse and repeat instead of going, hold on timeout. Let me do something different. you had a lot of different iterations and things that led you to something else. Like looking back, you probably would have thought way back in the day, I’m gonna be a professional ball player and make millions of dollars. This is how my life is gonna go. Cause you’re on that path and you’re really pushing for it. Even to go spend your last $250 all the way in Orlando, which 19 hours is if you’re fucking moving. Dre Baldwin (23:48.723)So, Nick McGowan (23:49.408)Most people will take like a day and they’ll have to stop, but you and a couple of friends like taking turns asleep and I’ve done that drive before I get it. There’s a lot of different things that could have really pushed you off the path, but you kept going with the path. And that’s what I like to be able to break apart of like, actually kept you going with that? Because you’re aware enough to go, hmm, well. I don’t know if I’m going to get another job doing this, but I’m seeing that I’m having these conversations and I want to talk about these things. Even like with you to say the new thing, YouTube back then, it gets wild to think that, I don’t know, we weren’t super young when YouTube was new, but geez, we really were. And you were early to it, you know? I talked to people about social media at times where I’m like, I had a social media marketing company in 2013 and I was fucking late. Dre Baldwin (24:31.303)this early 20s. Nick McGowan (24:43.508)seven years late and other people now that keep pushing these things, they’re still doing the same thing over and over and over instead of actually saying what’s actually working. What do I want? What do I want to do with this sort of stuff? And I’d love that you actually, you saw a positive in the network marketing. There are a lot of people that shit on MLMs and network marketing because they’ve had bad experiences or they’ve had friends that have tried to push everything on them or wrap fucking things around their stomachs or. tell them they can make money with a light switch or whatever. But you learn a lot through that. And I think that’s a big thing that taking those steps that are risky at times, like think back to the 250, that was a risk. But you were like, fuck it, I wanna go play ball. I’ll drive all the way down there. There are a lot of people in Philly that didn’t wanna do that. They wouldn’t have done it. They wouldn’t have even cashed that check or rented the car. or gotten into the vehicle to drive down there, let alone all the other things that you did. So you had all these little steps that you had to take. There were all these little risks pieces. So how did you tie that into not only what you’re talking about mindset wise, but specifically for yourself? Like what are you able to look back to and go, man, I was really good at this thing. Like you pointed out discipline, because your parents got up, their shoes on, got to work, did their thing, took care of their kids and moved along in life. That’s great, but that’s just one. Dre Baldwin (26:04.835)Mm-hmm. Bye. Nick McGowan (26:07.95)piece of the recipe. What are the other pieces for you that have really helped you figure out this is what works for me and what I can share with other people. Dre Baldwin (26:16.413)Great question. I’m glad you contextualize it that way because it reminds me of something else. So first thing I’ll say, 2013 you had a social media marketing company. I’m sure you were doing well. That was a good business to be in in 2013. Yeah, I can imagine. So speaking of a couple of things, my parents and Napoleon Hill. So Napoleon Hill and Think and Grow Rich talks about this concept of transmutation. Nick McGowan (26:26.702)It was, but we were still late. Yeah. Dre Baldwin (26:39.273)And transmutation is about how you take, it’s the law of conservation of energy. states, energy is neither created nor destroyed, merely changes forms and moves from one object to another. So my parents were traditional, basically it was called them nine to five years. My mom’s in education. My dad worked basically construction as a day job. He was a musician by night. That was his passion, but he didn’t do it full time. This was before, you know, social media. If he was around now, he was my age now, he’d probably have his own brand. Couldn’t do it in 1985, right? So. Nick McGowan (27:07.182)short. Dre Baldwin (27:08.999)So when I graduated from college, again, division three college, my parents don’t know a ton about sports. My dad’s a big sports fan, so they knew some. They don’t know anything about overseas basketball, but they know division three from division one. I come home from college and they say, what are you gonna do now with your degree? I say, I’m gonna be a professional basketball player. Now mind you, I have no prospects. I have no offers. I have no contracts on the table. My mom’s an educator. So her biggest thing was both of my kids are gonna go to college and get a degree because neither of my parents had their degrees when my sister and I got our degrees. My sister became a college professor just to give you a some comparison and my mom’s an educator, very good educator at that. So I say, I’m going to be a basketball player with no prospects. My mom can’t believe it because I sacrificed all this, her talking, I sacrificed all this for you to get your degree and get your education. And now you say you’re to be a basketball player. It was kind of like I was throwing it all away because again, if it would be one thing, if the New York Knicks were offering me a contract, I wasn’t getting offered anything. So she’s like, well, how are you going to do it? She started asking me. questions that any logical person would answer and there were no answers to the questions. And she essentially was saying, hey, if you don’t have any answers to these questions, well, you need to go, you’re living under our roof. You’re an adult now. You’re still eating food. You’re using the electricity. You need to go get a job. And she was right. Nothing she said was wrong. It wasn’t even highly critical. was just, she was holding a mirror up to me and my dad basically co-signed everything that she was saying. Now that even though she wasn’t wrong, the mirror being held up to me angered me. Not that she said anything specifically that bothered me or that my dad said anything specifically. was just the reality was the reality. So the reality became one of my oppositions. And I’ll tie this in in a moment. The other thing was in college, I didn’t even play my senior year because my junior year after my sophomore year, my junior year, the coach who recruited me got fired. New coach comes in and anybody knows anything about college sports. When a new coach comes into a program, they clean house. The same way that when a new CEO joins a company, some of upper management, middle management gets flushed out, not because you’re not good, but because they want to bring in their own people. I ended up out of the program. So my senior year, I was in school, fully eligible, fully healthy, didn’t play basketball. And this is at a division three school. So again, it’s not like I’m looking at future NBA players when I’m watching games. And that bothered me because in my mind, I knew I was better than the players who were on the team. But at the same time, Nick McGowan (29:11.512)Yeah. Nick McGowan (29:24.188)He Dre Baldwin (29:31.53)I’m objective enough to look at myself. can step outside of myself and look at myself and say, OK, well, you think you’re better than them. But let’s look at the reality. Here they are playing. Here you are not playing. And again, this is the Vision 3 school. So how can you prove you’re better than them? Your eligibility is up. This is before name, image, and likeness. Eligibility is up. They’re on the team. You’re not. How can you prove this? Well, the good thing about back then, there’s no YouTube. There’s only one level to go after college in sports. And that’s the pros. Nick McGowan (29:48.248)Mm-hmm. Dre Baldwin (29:59.422)That story that I told you about how I made it pro and the things I was doing once I made a pro was not just off of talent. It wasn’t just off of intellect or strategy. It was the transmutation of the, if you want to call it disappointment, sadness, anger, embarrassment, frustration of those situations. That was the gas in the tank. I needed to prove for posterity sake that my career was not going to be ended by this coach and no, none of these players are going to be able to say that they outdid me. And also Nick McGowan (30:12.163)you Dre Baldwin (30:28.017)my parents, I wasn’t angry at them. They didn’t do anything wrong. They didn’t stop me. But the fact that they held up the mirror, they were the messenger. You know, sometimes you sometimes you to kill the messenger. I didn’t kill my parents, but they were the messenger. And I took it out on I didn’t I wasn’t angry at them personally. But I took that energy from both of those situations. And that was no the gas in the tank to get me from Philadelphia to Orlando. That’s a good metaphor right there. That’s right. So that’s that was a big part of what I did. I don’t even remember what your question was. Nick McGowan (30:37.07)Sure. Nick McGowan (30:51.154)Literally. Nick McGowan (30:57.646)It’s all good. Sometimes that’s the best. You’re like, I’m riffing in this direction. Because like you’d said, this this reminds you of some other things, you know, I think it’s interesting how, look, there are different conversations that have been had in so many circles, everybody’s had this sort of conversation, don’t let people shit on your dreams, don’t let people tell you not to blah, blah, blah. And I think a lot of that conversation misses the fucking mark in a big way, because there’s no context to it. Like your mom is an educator. seems to be a logical person asking you logical questions. You interpret it in some sort of way where part of it was like, see it, but fuck you. But I also see what you’re saying. And I’m gonna go this route and I’m gonna go do this thing. And then there are specifically people that are like, no, you don’t wanna do that. This is gonna happen and it’s all gonna be terrible. Cause their fear and all that sort of stuff. There’s a level of discernment that you can sometimes not have the ability to have. because you trust those people so much. And that’s where I think some of the conversation is like, don’t let your family shit out of your dreams, blah, blah. Yes, and still give more to it. If somebody’s trying to love on you and they have their own things, it’s on us to not interpret it in such a way, but it can be really hard when you go, it’s my mom, it’s my whoever, it’s this person. But some of those things will also move us in a beautiful direction. Like I think back to high school and bring this up at different times. Where do you remember being in like 11th grade with like, we’re going to sit you down. We’re going to talk about what college you want to go to, what things you want to do. So next year we can start ramping and doing all these things. Well, when I sat down with the counselor, she was like, all right, well, you’re a musician and an art kid. Like I was one of those kids that if I didn’t want to be in class, I’d be like, I got a project. They’d be like, fuck off. And I’d go and live in the art room. And this counselor was literally like, well, we can get you into music school or art school, but you’re probably not going to make any money. So what do you want to do? And I checked out. I was like, well, don’t want to fucking be here and talk to you because you just told me I’m going to be a starving artist. So fuck that. I ended up getting into a multi-level marketing company like six months later and you learn so much from that shit. And there’s things that I think some people learn manipulation. Other people learn how to actually be better versions in themselves. And some people use it as stepping stone and all that. Like you and I both did that where we didn’t do network marketing forever. Nick McGowan (33:23.936)It was a stepping stone that opened up a whole new world. But then later on in life, you start to see how systems work and how different pieces and components work with things. But you made all these different choices without letting people affect the way that you went about them while still taking some of the consideration of it. And I’m pointing it out in that sort of way, because as I said to you, even off air, the idea is for people to get something from this where they go, huh, maybe I need to think about this a little differently. And somebody roughly our age or even in their late thirties or early fifties or whatever, you’ve been through enough of a career and have enough of a body of work in a sense where then you can look back and you can see patterns of things. What do I like? What do I not like? What do I actually want? Those are really fucking tough questions for people to ask because then they go, well, what if I don’t want my family? What if I don’t want this job that I’ve been here for 25 years? Or what if I want to do something totally different? Dre Baldwin (34:13.513)Hmm. Nick McGowan (34:22.688)And there’s a balance to that. Like, there are people that are like, fuck it, I was a lawyer one day and next thing you know, I’m painting and that’s it. There’s context there. There’s many conversations they’ve had in their own head. So what does that look like with the work that you do now, specifically with different people that are progressing through their life and having those conversations or maybe shying even away from those conversations within themselves? Dre Baldwin (34:48.969)It’s a great question because a lot of times these days, mostly working with professionals, entrepreneurs, high performers, these people usually come to you with a high performer level surface level issue, usually based around money and or the things they need to do to make money, more marketing, better clients, transitioning, quitting my job, starting a business, et cetera. So to get to the actual issue, that is an issue. Yes, they do want to make more money. Yes, they do need better clients and they want to sell this course or whatever it is they’re doing. But to get to the actual issue, you really have to find out who’s the person behind the issue. Who’s the person behind the problem? And noticing their patterns, noticing their mental blocks. Sometimes the mental block is they can’t see themselves charging more money. Sometimes the mental block is I know who pays me the most money. That’s the top 20 % of my clientele, but the bottom 80 % for me to drop them, they’re going to think I’m a jerk. They’re going to think I don’t value them. They may not like me. Nick McGowan (35:35.48)Yeah. Dre Baldwin (35:47.758)They just don’t have the heart to do it. Not drop them, but pass them off to somebody who’s less senior than you and your company. Sometimes that’s the challenge for people. Sometimes the challenge is just moving themselves to do the things that need to be done, the grunt work. And there is no business, no career that does not have grunt work. A lot of people think that there is one, there isn’t one. There is some type of work you have to do no matter what you do for a Sometimes it’s moving themselves to be able to do that. Sometimes when I’m working with people, sometimes it’s professionals, but there’s a personal issue. I’m not spending as much time with my kids as I want to. My wife is not initiating sex as often as she needs to. A single man who just wants to talk to more girls, but he keeps second guessing himself and hesitating and him and in hauling when he sees a girl on the train and by the time he approaches her, the energy is gone because he waited too long. So it’s sometimes just it’s not sometimes, but all the time finding out who the person is. And once we get to that part and we get through the layers of the surface level stuff that they’ve gotten so used to telling people and we get to the personal stuff. And that’s when we can start to make the change because even though that personal stuff, the stuff that people see in the mirror, it’s hard to sell because you can’t count it, measure it, you can’t see it. That’s the main thing most people need. But almost nobody shows up saying, this is what I want. They show up saying, I want the thing on the surface, the thing I can count, measure and check the box for. But the only way to get those resolved is we got to get to who the person is. So you have to show them this, but you got to give them that. So the metaphor I like to use is feeding medicine to a dog. Nick McGowan (36:55.48)Mm-hmm. Nick McGowan (37:01.24)the Dre Baldwin (37:16.963)You they don’t really need the peanut butter, but they say they want the peanut butter, but you got to hide the medicine inside of it. So you got to get them to understand. Yes, I can help you with the surface level issue. Now that they believe that what we’re going to get to without me even having to say it explicitly, Nick, is we have to figure out who is the person you see in the mirror, because until this person changes, you’re never going to be willing to confidently say that number in the middle of a meeting to get the price that you want for this project. You keep charging about our you need to be charged about the project. Nick McGowan (37:34.838)Mm-hmm. Dre Baldwin (37:44.424)Now you’re accepting $200 an hour. You need to be charging them 100K for the project for six months, but you’re not willing to say that number. So until we fix how you see yourself, I can say the number for you. I can go get the deal, but you can’t get it. You have to say the number. So we got to deal with that part. Not all this other, all these other things are just details is we got to get to who you see in the mirror because who you see in the mirror leads to how you carry yourself energetically. 85 % of communication is nonverbal. So Whatever you see in the mirror is how you carry yourself. Other people pick up on that non-verbally. They respond to it non-verbally. That leads to them saying yes or no for reasons that have nothing to do with what you actually said and nothing to do what they actually said. So whatever reason they gave you is not the real reason. And whatever you think is the reason is not the real reason. But that is the main conversation. Most people don’t understand that. So my job is helping people understand that and understand when you get the non-verbal part right, what you say verbally doesn’t really matter that much. Nick McGowan (38:29.166)You Dre Baldwin (38:41.915)One thing you learn in sales, you can’t say the right thing to the wrong person. You can’t say the wrong thing to the right person. When the energy is right, it doesn’t matter. But most people are so stuck in their heads, especially high performance, because high performance is usually really smart. They have a lot of information, a lot of knowledge. They read a ton of books. They’ve written books. It’s hard to get them to get past the intellectual level to the energetic level. But that’s where everything is happening. Nick McGowan (38:45.912)Yeah. Nick McGowan (38:49.624)Yeah. Nick McGowan (39:05.353)I’m so glad that you got to this point of the energetic level. There are the things that were, yeah, we want the surface thing because we need the surface thing. Just like we want to sell things because really we want to do these other things. Some people, it’s a thing where, I want to sell more because I want a second home or I want a beach house or whatever. That’s an issue in and of itself. If it’s like, I just want to do this to buy this thing where I’m not going to go down that path, but… The reason why I bring that up is I think there are times where we can look at things and say, want this because other people want me to want it. The system of the world tells me I should have this. Like showing up to a meeting in this bad ass car, like if you have a broken down car or something that actually makes sense for you to have, and you enjoy having a 2009 Accord or whatever it is, that shouldn’t dictate the type of level of service that you have. But people will think that they have to put on this facade and the charade. because they’re afraid to be themselves when in most times, as you know, most people don’t know who themselves are. They don’t know who it is that they really want to be or what they want to do. The energetic part of it is so huge, especially in sales. I mean, you and I could shoot the shit on sales forever. I think about the people that I’ve trained over the course of time where they just have such a hard time not reading a script because they can’t embody it. They can’t embody the framework of how to have the conversation to ultimately level the person and fucking just see if you can help. Cause if he can’t get off the phone, if you can, beautiful, continue the conversation. But the bullshitting is not going to help either one of you. But people will go, well, I have to do this. And we do it mostly to ourselves. Like if you think about how many people talk shit to themselves, like, geez, if that was a friend or somebody outside, you would have a restraining order, you know, like you’d be fearing for your life. So getting to that level is really difficult for a lot of people, even the people that do a lot of the work, because it’s asking them to shake the boundaries and the foundation of themselves. And that can be really uncomfortable, especially for high performers that are like, I’ve been doing this at such a high level. Now you’re asking me to go backward. Now we’re asking you to actually adjust the foundation so you go forward from there. I mean, I really appreciate you being on today. Appreciate the wisdom and the insight. Nick McGowan (41:28.056)For those people that are on their path towards self-mastery, be it somebody who’s a performer or somebody who’s an athlete or somebody who’s just really trying to figure out how do they fit within their own little piece of the world, what’s your advice for them on their path towards self-mastery? Dre Baldwin (41:43.546)Biggest thing is for people to get more fully present with themselves. Everybody’s heard the term being fully present. What presence is, is not something that you learn, is not something you add on, is not something you develop. Presence already exists. Presence is what remains when you strip away all the noise, all the excess. So anything that’s coming from your smartphone is noise. Text messages, emails, notifications, any app you can get on, all of it is noise. It’s an added on. It didn’t come with you standard equipment when you were born. Nick McGowan (42:04.078)You Dre Baldwin (42:12.829)Your thoughts about the future is noise because you’re time traveling into the future that didn’t happen. You’re reminiscing on the past is noise because you’re time traveling into the past that already happened. You thinking about something that’s not happening where you are right now in the moment where your feet are is noise because you are not in the place that you are. You’re not grounded in the current moment. Presence is what’s left when you strip away all that excess. The challenge for many people is that presence bothers them because they’re left with the only thing they don’t want to deal with, which is themselves. When you strip everything away, all that’s left is just you dealing with you. And that’s uncomfortable for people. And interestingly enough, a lot of high performers are uncomfortable with themselves. So what we do is we keep adding on more noise. You can listen to another podcast. You can read another book. You can watch another YouTube video. You can go gather more information. You can go give out more information. That all keeps your mind stimulated and occupied so you don’t have to deal with yourself. When you get used to dealing with yourself, you calm down that, as they say, the monkey mind. This is what they talk about in mindfulness or yoga or any type of meditation when you get comfortable being with yourself your signal Internally that you project externally gets ten times stronger and you actually get better results The challenge is you had to deal with the withdrawal symptoms of turning all that stimulus off Doesn’t mean you can’t stimulate doesn’t mean you don’t read talk do your work But you have to be able to turn it off and control it instead of it controlling you the world that we’re in now today Nick these devices have trained us to be controlled. We’re not in control anymore. We’re being controlled. We have to still have a device. I still got a phone. I got two phones on my desk and an iPad and a computer, but I control them. They don’t control me. Exactly. So the thing is you have to learn to control them and turn them off when you want to not be pulled in by the dopamine rush. I think that’s the biggest thing in the world we’re in today, especially for the highly intelligent high performers. Nick McGowan (43:41.806)Mm-hmm. Nick McGowan (44:04.216)Yeah, and that could be fun. Literally in those moments like where you know, like I think about myself at times. I’m an iPad kid in a way. Like I have my video games that I play and I’ll veg out and I kind of work through them are primarily like 2K games, know, NBA and NFL and stuff. But there are times where I can feel like, I’ve just been doing this for a bit. And it’s an actual lift to put the fucking thing down to step up. move out of the energy of watching TV, even if you’re like, look, I’m gonna give myself an hour or two to just veg and whatever. When you feel it, that’s one of those moments where it’s like you have an opportunity to do something with it, because you are really present and you’re aware of yourself enough to go, all right, motherfucker, get up, get out of here, go do something else. That is one of those moments that people that have a hard time sitting with themselves miss those because you don’t see them more often. But when you see it, You can’t not see it. Like I joke about self-awareness at times. Like the more aware you become, the fucking more aware you become. And the more aware you become, the more aware you become. Like you can’t get away from it. And it can be really tough, but I appreciate the work that you’re doing. There’s a lot when people say like, you know, you want to be mindful. Like I hear from times different, different people listening. They’re like, you can’t just mindset your way through life. Like I get it. Listen to the fucking conversations. That’s not what we talk about. It’s not about just. forcing yourself to do a thing that either one of us are saying. It’s about actually taking this and figuring out how does it work into my life? And how do I think about things a little differently? And what do you want to do from there? So Dre, I appreciate you being on today. This has been awesome. I’m sure we could just sit here and just keep talking about things, but it is almost top of the art. Before I let you go, where can people find you and where can they connect with you? Dre Baldwin (45:51.997)They can just go to work on your game.com work on your game.com and anything you need will be found there. Nick McGowan (45:58.262)Awesome. Again, man, I appreciate your time today. Thank you very much. Dre Baldwin (46:01.321)Thanks for having me on Nick, appreciate the conversation. https://www.youtube.com/watch?v=bCcqCo4KTqk

What are “Zero-Validity” forecasters, and why should you ignore them?In this 9-min video, I use Robert Kiyosaki's latest warning as a case study, alongside a nearly identical call he made in 2022 urging investors into gold, silver, and crypto just before a strong stock-market advance.At both moments, our system was buying and went on to post market-beating results.This video shows why forecasts fail in an unknowable market. A rules-based approach, grounded in history, consistently outperforms guesswork.We don't win by predicting. We win with a schedule, rules, and arithmetic. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jasonkelly.substack.com/subscribe

“Savers are losers because you're saving the dollar, which they're printing like crazy.” Kiyosaki warns the 1974 petrodollar and 401k system are collapsing, triggering the biggest wealth transfer ever.

¿Te han enseñado que ahorrar dinero en el banco y comprar tu propia casa son las mejores decisiones financieras? En este episodio de Creadores, desmentimos estos mitos con Fernando González, también conocido como el "Rich Dad Latino" y discípulo directo de Robert Kiyosaki (autor de Padre Rico, Padre Pobre).En este episodio abordamos puntos clave como:- ❌ Por qué comprarte una casa y dejar tu dinero en el banco son uno de los peores errores financieros que puedes cometer.-

#857 After selling multiple companies for hundreds of millions of dollars, David Royce discovered something surprising — his first exit, a comparatively modest $13 million, felt better than all the rest! In Part 2 of this two-part episode, host Justin Williams and David pick up right where they left off, diving into the psychology of wealth, fulfillment, and what really drives happiness once the money is no longer the primary motivator. David shares why entrepreneurship is a noble cause — not just a wealth-building tool — pointing to the 6,500 families his companies once supported as proof that business owners make the economic pie bigger for everyone. The conversation gets candid about the tension between ambition and presence as a parent, why "a little more" is always the honest answer to the question of how much money is enough, and the importance of working in seasons rather than burning out chasing a finish line that keeps moving. David also makes the case for commission-based work as a launchpad, breaks down the four levels of wealth from Robert Kiyosaki's Cashflow Quadrant, and leaves listeners with two parting principles he swears by: always keep evolving, and find ways to serve! What we discuss with David: + The first exit felt best + Entrepreneurship as a noble cause + The pie gets bigger, not smaller + "The answer is always just a little more" + Work hard in seasons, not forever + Family presence vs. ambition tension + Commission work as a wealth launchpad + Kiyosaki's Cashflow Quadrant breakdown + Always keep evolving + Find ways to serve Thank you, David! Check out Aptive Pest Control at ⁠AptiveRecruiting.com⁠. Follow David on ⁠LinkedIn⁠. To get access to our FREE Business Training course go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MillionaireUniversity.com/training⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To get exclusive offers mentioned in this episode and to support the show, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠millionaireuniversity.com/sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Most real estate agents have a wealth-building plan — but it's the wrong one. In this episode of The Brian Icenhower Podcast, Brian breaks down Robert Kiyosaki's Cashflow Quadrant and explains why so many agents, team leaders, and broker owners are skipping a critical step that's costing them their financial future. If you've ever found yourself buying rental properties and hoping that income eventually replaces your commissions, this episode is a wake-up call. Brian walks through the four quadrants — Employee, Self-Employed, Business Owner, and Investor — and reveals the exact mistake most real estate professionals make: jumping straight from self-employed to investor without ever building a true business first. Here's the truth: a few rental properties generating a few hundred dollars a month will never replace a business generating hundreds of thousands of dollars annually. The math simply doesn't work — and yet, this is the path the vast majority of agents default to. In this episode, Brian covers: Why the Cashflow Quadrant is Kiyosaki's most actionable book — and how it directly applies to real estate professionals The four quadrants broken down specifically for agents, team leaders, and broker owners Why 95% of real estate agents get stuck in the self-employed quadrant and never break out The critical difference between building a business and buying a rental — and why one dramatically outperforms the other How top-producing agents and successful brokerage owners actually make the leap to financial freedom The "bridge" strategy — how to build a business you can step away from, then use that foundation to open additional income-generating businesses (mortgage, title, insurance, property management, and more) Why real estate is its own little economy, full of business-building opportunities that most agents completely overlook What Elon Musk, major national brokerage owners, and ICT's most successful clients all have in common — and how you can follow the same path Whether you're a solo agent trying to figure out your next move, a team leader ready to scale, or a broker owner looking to create true financial independence, this episode gives you the roadmap to stop trading time for money — for good. Resources & Links: Cashflow Quadrant by Robert Kiyosaki Rich Dad Poor Dad by Robert Kiyosaki Learn more about ICT coaching programs: therealestatetrainer.com Keywords: cashflow quadrant real estate, real estate passive income, real estate wealth building, how to build a real estate business, real estate team leader financial freedom, broker owner wealth strategy, Robert Kiyosaki real estate, real estate investing vs business building, Brian Icenhower podcast, ICT coaching   Book a FREE coaching call: http://CoachCallFree.com Enroll in our online courses: http://www.IcenhowerInstitute.com Sign up for coaching: http://www.IcenhowerCoaching.com Sign up for an Agent Management Portal: http://AgentManagementPortal.com Join the fastest growing Facebook Group for Top Producers: https://www.facebook.com/groups/REagentRoundTable

Questions? Comments?The show opens with a major announcement: Talking Real Money is leaving terrestrial radio and going fully podcast-only, marking the end of a 16-year Saturday run. A heartfelt surprise call from Don's wife Debbie reflects on decades of friendship, trust, and listener connection before the tone pivots back to business. The main topic takes aim at perpetual crash predictors like Robert Kiyosaki, dismantling their track records with hard numbers and highlighting the absurdity of market timing. The episode then shifts to a real-world HOA investing debate, using it as a case study to expose the risks and illusions behind “buffered” or “guaranteed” return products. The core message is simple and consistent: if it sounds too good to be true—especially anything promising safe double-digit returns—it is.0:04 Major announcement: show leaving radio, moving fully to podcast0:34 Surprise call from Debbie with emotional tribute2:13 Reflection on 16 years, trust, and listener impact3:15 Don and Tom respond to Debbie and reflect on friendship5:16 Setup: can anyone actually predict a market crash?6:41 Media fear machine and constant crash headlines7:44 Kiyosaki's predictions vs real market performance9:52 “25 of the last 2 crashes” and the contrarian indicator joke11:05 Why crash predictions persist and attract attention12:29 Other fear-based forecasts and why they don't help investors13:29 Program note: transition to podcast-only and how to listen14:32 Caller: rebuilding an emergency fund vs investing15:58 How to prioritize emergency savings vs brokerage contributions16:55 Managing risk and asset allocation near retirement17:32 Caller question: how interaction will work in podcast format18:57 New system for listener calls and recorded conversations21:40 HOA story: pressure to invest reserves in complex products22:54 Explanation of buffered/structured investment products24:06 Hidden tradeoffs: capped upside, partial downside protection25:00 Unknown risks and 2008 comparison25:47 “Do you know who I am?” moment and advisor pushback27:01 Reality check: no such thing as guaranteed 10% returns27:27 Simple logic: if 10% were safe, no one would take 4%28:59 “People lie about money” and incentives in finance30:12 Listener email: estate planning and Tom's Starbucks joke32:09 RetireMeet recording availability and follow-up34:08 Podcast reach vs YouTube performance35:28 How to listen and interact with the show going forwardLearn more about your ad choices. Visit megaphone.fm/adchoices

The show opens with a major announcement: Talking Real Money is leaving terrestrial radio and going fully podcast-only, marking the end of a 16-year Saturday run. A heartfelt surprise call from Don's wife Debbie reflects on decades of friendship, trust, and listener connection before the tone pivots back to business. The main topic takes aim at perpetual crash predictors like Robert Kiyosaki, dismantling their track records with hard numbers and highlighting the absurdity of market timing. The episode then shifts to a real-world HOA investing debate, using it as a case study to expose the risks and illusions behind “buffered” or “guaranteed” return products. The core message is simple and consistent: if it sounds too good to be true—especially anything promising safe double-digit returns—it is. 0:04 Major announcement: show leaving radio, moving fully to podcast 0:34 Surprise call from Debbie with emotional tribute 2:13 Reflection on 16 years, trust, and listener impact 3:15 Don and Tom respond to Debbie and reflect on friendship 5:16 Setup: can anyone actually predict a market crash? 6:41 Media fear machine and constant crash headlines 7:44 Kiyosaki's predictions vs real market performance 9:52 “25 of the last 2 crashes” and the contrarian indicator joke 11:05 Why crash predictions persist and attract attention 12:29 Other fear-based forecasts and why they don't help investors 13:29 Program note: transition to podcast-only and how to listen 14:32 Caller: rebuilding an emergency fund vs investing 15:58 How to prioritize emergency savings vs brokerage contributions 16:55 Managing risk and asset allocation near retirement 17:32 Caller question: how interaction will work in podcast format 18:57 New system for listener calls and recorded conversations 21:40 HOA story: pressure to invest reserves in complex products 22:54 Explanation of buffered/structured investment products 24:06 Hidden tradeoffs: capped upside, partial downside protection 25:00 Unknown risks and 2008 comparison 25:47 “Do you know who I am?” moment and advisor pushback 27:01 Reality check: no such thing as guaranteed 10% returns 27:27 Simple logic: if 10% were safe, no one would take 4% 28:59 “People lie about money” and incentives in finance 30:12 Listener email: estate planning and Tom's Starbucks joke 32:09 RetireMeet recording availability and follow-up 34:08 Podcast reach vs YouTube performance 35:28 How to listen and interact with the show going forward Learn more about your ad choices. Visit megaphone.fm/adchoices

Everyone's got an opinion about money (especially the people with a book deal or a TV show). Some of that advice is useful. Some of it sounds better on a stage than it works in real life. Financial hot takes can be entertaining, motivating, and occasionally… unhinged. Today, Sean explains that the key is knowing which advice fits your life and circumstances and ignoring the irrelevant stuff. Here's what we discuss in this episode:

Let's get in touch! Start the conversation here: http://thefinancialanswer.com  Some of the loudest voices in personal finance offer bold opinions that grab headlines, but do they actually hold up in real life? In this episode, Nathan reacts to popular financial takes from well-known money personalities and breaks down where the ideas may oversimplify real-world planning. Before following any hot take, it's worth asking whether it fits your financial reality. Here's some of what we discuss in this episode:

In today's conversation from the Vancouver Resource Investment Conference, Rich Dad Poor Dad author Robert Kiyosaki delivers a stark warning about the future of money, markets, and social stability. Dispelling rumors outright, Kiyosaki makes one thing clear: he has never sold his silver—calling it “the metal of the future,” more scarce than gold and even Bitcoin. Kiyosaki argues that gold and silver are flashing the same signal seen at historic monetary breaking points. “When gold and silver move together, that's the end of fiat money,” he warns, adding that “the risk of confiscation is real.” From currency debasement and AI-driven job destruction to debt-fueled wealth creation, Kiyosaki's message is clear: history is repeating and those who ignore it will pay the price. ✅ FREE RESOURCESDownload The Private Wealth Playbook — a data-backed guide to strategically acquiring gold and silver for maximum protection, privacy, and performance. Plus, get Daniela Cambone's Top 10 Lessons to safeguard your wealth (FREE)

We all love winners. We love hearing about the big wins and the perfect track records. It feels good. It feels safe. It instills us with a sense of trust. But I've been in business long enough to know that virtually all individuals who are long-term winners have had profound moments of failure from which they learned invaluable lessons. Those are the people I really want to hear from. They have the kind of knowledge we all need as we navigate through life. It's called wisdom. Surgeons have a saying: “If you've never had a complication, you haven't done enough surgery.” In my surgeon days, I had a handful of complications. Let me tell you—they are no fun. You stay up at night replaying things in your mind, trying to figure out how you could have done things differently—how you could have had a better outcome. Even when unavoidable, those complications teach you something you'll never get from textbooks. It's been no different for me when it comes to business and investing. But I take comfort in knowing that even the greatest investors of all time had their moments of failure and rose from the ashes stronger and wiser. Warren Buffett. Ray Dalio. Every big winner has a story of failure. And while it may be cliché to say that we learn best from mistakes, I truly believe it. The good news is that those mistakes don't have to be our own. Learning from other people's mistakes can be just as effective. This week's episode of the Wealth Formula Podcast is with Russell Gray—a guy many of you already know from his podcasting and radio career. Russ lived through 2008 up close. He took a beating, and he talks openly about what went wrong. But that period also changed the way he sees the world—in a good way. It changed how he thinks about risk, leverage, and what actually matters when things stop going up. That mindset is a big reason he's been successful since then. It's a conversation worth your time. Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  If you let the debt run, at some point you fall into a debt trap where the interest on the outstanding debt consumes all of the available discretionary income, and then you’re borrowing just to service the debt. Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast coming to you from Montecito, California. Before we begin today, I wanna remind you there’s website associated with this. Podcast called wealthformula.com. It’s where you will go if you would like to, uh, become more, uh, ingrained with the community, including getting on some of our lists such as the Accredit Investor Club. Of course, it is a new year and there are new deal flows coming through. Lots of opportunities that you won’t see anywhere else if you are a, an accredit investor, which means you. Make at least $200,000 per year for the last couple years with a reasonable expectation of doing so in the future. That’s 300,000 if you’re filing jointly or you have a million dollars of net worth outside of your personal residence. If you, uh, meet those criteria, you are an accredited investor. Congratulations. You don’t have to apply for anything, whatever, but you do need to go to wealthformula.com. Sign up for the Accredited Investor Club, get onboarded. And all you do at that point is look at deal flow, and if nothing else, you’ll learn something. So check it out. And who doesn’t want to be part of a club? Now let’s talk, uh, a little bit about today’s show. You know, um, we all love winners, right? We love hearing about big wins, the perfect track record. It feels good. It feels safe, gives us a sense of trust. But the thing is, I’ve been in business long enough to know that virtually all individuals who are, what you would call long-term winners, have had profound moments of failure from which they learned, um, invaluable lessons. So those are the people that I really like to hear from. You know, they have the kind of knowledge we all need that as we navigate through all of life, and it’s called wisdom. Um, surgeons, as you know, I’m an ex surgeon. Have a saying, if you’ve never had a complication, you haven’t done enough surgery. Uh, in my surgery days, I certainly, you know, had a handful of complications just like anyone else who did a lot of surgery. And, and lemme tell you, there, there are no fun, right? So you stay up at night replying things in your mind, trying to figure out how you could have done things differently, how you could have had a better outcome. And sometimes you realize that those mistakes were unavoidable, but. You still learn something from them. And in these cases, you always learn something that you’re not gonna get from the textbooks, just from reading something. And you know what, it’s been no different for me when it comes to business and, and investing, but I, I take comfort in the fact, uh, that even the greatest investors of all time had their moments of failure and arose from the ashes stronger and wiser. All you have to do is look up stories of Warren Buffet and Ray Dalio. And Ray Dalio basically lost everything at one point, uh, because he, you know, he had a macro prediction that went completely south. But listen, uh, the, the point I’m trying to make here is that every big winner, every big winner I know of as a story of failure. And while it may be cliche to say, you know what we learned best from our mistakes, I, I truly believe that. But the good news is that those mistakes don’t have to be our own, right? So you can learn from other people’s mistakes as well, and that can be just as effective. Uh, so this week’s episode of Well, formula Podcast is featuring a guy that you may know. His name is Russell Gray. Russ, uh, has been around a long time, uh, in the podcasting world. And radio. You know, he talks a lot. He’s talked many times to me at least about living through 2008. And you know what that was like, the beating he took and, you know, what went wrong? Uh, you know, it’s, it’s something that he talks about because, you know, he’s a successful guy and that period in time changed. You know, the way he sees the world, the way in which he behaves in that world. How he thinks about things like risk and leverage and you know, what actually matters when things stop going up. Uh, it’s a mindset thing and it’s important. Um, and we also obviously talk about other things as well, such as, uh, Russ’s current take on the economy. Uh, so anyway, it’s a, a good conversation and it’s one that you’re gonna wanna listen to, and we’ll have that for you right after these messages. Wealth formula banking is an ingenious concept powered by whole life insurance, but instead of acting just as a safety net, the strategy supercharges your investments. First, you create a personal financial reservoir that grows at a compounding interest rate much higher than any bank savings account. As your money accumulates, you borrow from your own. Bank to invest in other cash flowing investments. Here’s the key. Even though you’ve borrowed money at a simple interest rate, your insurance company keeps paying. You compound interest on that money even though you’ve borrowed it at result, you make money in two places at the same time. That’s why your investments get supercharged. This isn’t a new technique, it’s a refined strategy used by some of the wealthiest families in history, and it uses century old rock solid insurance companies as its back. Turbo charge your investments. Visit www.wealthformulabanking.com. Again, that’s wealth formula banking.com. Welcome back to Show Everyone. Today my guest on Wealth Formula podcast is Russell Gray. He’s a second generation financial strategist and, uh, you may know him from being a, the former co-host of the Real Estate Guy Radio Show, which is one of the longest running, uh, uh, radio shows of its time, uh, in the United States. He’s, he’s a founder of. Raising Capitalist project, which is an initiative focused on helping aspiring investors and entrepreneurs how to better understand how wealth is actually created and how uh, economic systems really work. Uh, he’s best known for his emphasis on real assets, cash flow, economic cycles, and preserving wealth and what he views as an increasingly fragile financial system. Welcome, Ross. How are you? Good buck, happy to be here. And, uh, proud of your success on your show. I remember way back at the beginning you were like, Hey, I wanna start a podcast. Yeah. Yep. You’ve done a great job. Yeah, it was an idea. I was like, here’s the idea. Start a podcast, build a community, all that kind of stuff. But it’s interesting. Uh, well, and let’s talk about what’s going on now. You’ve spent decades teaching people about, you know, real assets and cash flow. But lately your writings feel more focused on systems and and macro forces. So what’s changed? Has something finally become too big to ignore? Well, I think there’s two things you know personally, uh, most people who have heard of me or followed me know that 2008 wasn’t kind to me. I was in the mortgage business. I was very leveraged into real estate all over the place. Had my businesses for cash flow, had the real estate for equity growth. Believed that real estate was hyper resilient and gonna be the beneficiary of inflation. Didn’t understand the dependency on credit markets in both my business and my portfolio. And so that was a big mess, not doing, uh, a real SWOT analysis and understanding. And the third part of that, that was tough, is that I operated the business primarily on credit lines as well. So I had virtually no cash. And so when the credit markets seized up. Canceled my income, it canceled my credit lines and it evaporated my equity. And now all I had was negative cash flow on debt, on real estate. I couldn’t control. And so I looked at that and I said to myself, you know, I’m a pretty smart guy. I. Pride myself on paying attention. So obviously I’m not paying attention to the right thing. So I became obsessed with the macro, uh, picture and, and the financial system, which, you know, to me it’s, it’s the macro economy is what’s going on with, uh. Geopolitics and the energy and, you know, even policy, uh, that affects, uh, how well money can flow through the system. Both monetary policy from the Federal Reserve and fiscal policy from the government now today in the Trump administration trade policy. And so I began to pay attention to all those things, but from the standpoint of not how it was gonna affect the stock market, but how it was gonna affect the bond market and interest rates and the availability of credit, and how it was gonna affect Main Street. Directly and specifically now in terms of jobs and job creation are real wages. And so when I started really looking at all that, um, I, I, I realized that there were some things happening that were gonna be really good, and there were also some things that we needed to pay attention to. And these things move very slowly. So in 2010. I saw that coming outta the financial crisis, the Chinese were very upset with the United States about how much the Fed Balance sheet was expanding, and they were concerned about their very large investment in US dollar denominated. Bonds, and so they began creating bilateral trade agreements with Russia and many other countries to where they could begin this large process of de Dollarizing. Well, that was the first time I’d seen that movie, because it was the same thing that the Europeans did after they saw the Nixon default. Right? They began working on the Euro, which took ’em from 71, 72 when they started, maybe 74 when they started, but it took ’em till 99 to get it done. But you know, once they got it in place, over time, the Euro, the Euro has taken over 20% of global trade. You know, that’s market share from the US dollar. And so I saw this BrickX thing beginning to form. Uh, and then I saw the other thing on the macro that I thought was gonna be really good was in the jobs act, something you’ve benefited from as a syndicator, we. I wrote that report, new law breaks Wall Street Monopoly. And so, uh, even though I, I can’t tell you I was a big fan of Barack Obama, but he signed that legislation that happened on his watch. And I think it was fantastic because now it allowed Main Street syndicators, main Street Capital raisers to advertise for accredited investors and began to really, uh, level that playing field and open up Main Street, uh, to invest directly in Main Street. And so I met you in the syndication program that we put together with the real estate guys to coach real estate investors on how to become capital raisers to, to capitalize on that trend. So that’s, you know, kind of how I kind of became doing what I’m doing. And then when I decided, uh, just about 20 months ago to depart the real estate guys, I wanted to take some of the things that I originally set out to do when I first met Robert Helms way back in the day. And, you know, as relationships go, you know, he has his interest in the things that he wants to do, and I had my interest in things I came to do. And for a long time we were aligned well enough to continue to work together. But it got to a point where, for me, I, I wanted to go off in a different direction, and part of that was driven. By the, the death of my late wife. Uh, you had me on the show right after that happened to me, and I was going through this like, who am I? Why am I here? What am I supposed to do next? What do I really want to get done before I die? And so all of those things kind of informed my personal decisions to, to make a switch. And then of course, what’s going on in the macro. Um, what I saw with Trump 1.0, what I saw in the Biden administration and those policies, and then what I thought would happen in Trump 2.0. And I did a presentation on this at the best ever conference in March of 2025, right after he’d been inaugurated. And, and so, uh, that, that’s kind of has me where I feel like there’s some real opportunity coming. Uh, there’s also some things we need to be aware of on Main Street. Yeah. So you’re bullish on Main Street in general, but you’ve been pretty cautious about the broader financial system. So, uh, what are the things that you’re worried about? Well, I, I think if you understand the way the financial system works, uh, it has a shelf life and that. It’s because it’s, it’s a system that is, depends upon ever increasing debt. Um, people say, I wanna pay the debt off, but if they, if they really understood the system, at least the way I think I understand it, uh, and I’m not alone in this, so it’s not something I just figured out on my own. But, um, you know. I, I don’t want to sit here and pretend like I’m the world’s foremost expert, but the way I understand the way the system works is that it, it requires ever increasing debt, and if we were to pay the debt off, it would collapse the system. So I think you waste a lot of time and energy and from a policy perspective, trying to argue about doing that. And I think that’s why it’s never, ever, no matter what administration, what politician, what mix of congress, what. Pressure there is everywhere globally. The system, the central banking system, the way it works globally, is designed to create ever increasing debt. So the, the flip side of that then is to let the debt run. And if you let the debt run, at some point you fall into a debt trap where the interest on the outstanding debt consumes all of the available discretionary income. And then you’re borrowing just to service the debt. Yeah, that’s about $1 trillion right now, by the way. Which is. Which is, uh, about the, the, the defense, uh, budget. Well, and I think that the bigger thing is when you look at, at the interest on the debt and mandatory spending, there’s virtually no room left after that. So if you’ve got, you’ve got the mandatory spending and you’ve got, um, debt service, you, you have very little room. So it’s not. Feasible either for two reasons. One is there’s just not enough discretionary room to be able to cut expenses enough to, to ever manage the debt. Number two, as I previously mentioned, if we were ever to effectively try to pay down the debt in any appreciable way, it would crash the the system. So the, the way I look at it is it’s, it’s, it’s got to be replaced. There’s going to be a great reset. I think the World Economic Forum was trying to set that up for the world, and they had an agenda. I’m, I’m not particularly fond of. Um, there’s been talk about creating a central bank digital currency, which I think is what, you know, the Federal Reserve and the, what I all call the wizards, uh, or the powers of B would prefer. Uh, but I think if you care about privacy and, and, you know, individual sovereignty, uh, and, and just personal freedom, um, I have a lot of concerns about a central bank digital currency. Um, I think the popularity of Bitcoin, uh, if it was, you know, and who knows what the. True origins were, but let’s just take it at face value. I think a lot of the people, at least that were the early adopters before it had the big price run up, was just a way to escape, uh, the system before it failed. And so you’ve got that. And then you’ve got, again, as I mentioned, the bricks and this global effort to de dollarize, which was I think really kicked off. After the great financial crisis and the massive expansion of the Fed’s balance sheet. And then I think picked up a little steam when we froze Russian assets and people began to see that the US might use the dollar and the dollar system, uh, for political instead of being neutral. And I think that picked up some steam. And, and so there’s, there’s both a geopolitical drive to. Uh, come up with a new system. There is, I think we’re at the end of a shelf life that some type of a new system is gonna have to be, uh, created. Uh, and, and then you look at what Donald Trump is doing and what he’s espousing. You know, let’s get rid of income taxes. Let’s get back to pulling in, uh, revenue from tariffs the way the country was originally founded. Uh, he’s talked about eliminating the IRS and going with an ERS, an external revenue service. There’s people that think that he might beat. Wanting to try to get back on some form of sound money, you know, coming out of, Hey, let’s audit the Fed, let’s audit the gold. I mean, let’s audit the gold. And, um, so, you know, we, you, you never know what what’s really gonna happen, but, but I think what we have to pay attention to are the signs that the system is beginning to break down. And one of those signs that I pay a lot of attention to is monetary, metals, gold and silver. I make a distinction between precious metals, which would also include platinum and palladium, and of course they’re strategic metals, but I just focus on monetary metals, which would be gold and silver, and gold and silver. We’re telling you that people would prefer to be the, the, the safe ha haven asset is no longer us treasuries, but, um, but, but gold and central banks have been driving a lot of it. This isn’t the retail market driving it yet. It, it’s really central banks have been accumulating. And so those are the ultimate insiders when it comes to currency. And if the insiders in the currency markets are repositioning into gold, uh, I’d, I’d call that a clue. Yeah, absolutely. Um. Yeah. You recently commented on the public criticism, president Donald Trump made toward, uh, uh, Peter Schiff. What stood out to you about that exchange? Maybe give us some background people. Not everybody knows who Peter is and, and, uh. And all that. So, yeah. Well, I mean, as you know, I’ve known Peter for 12 or 13 years and, uh, I had read his father’s work way back in the day. He is a very famous in the tax protestor world as somebody who just believed that income taxes were unconstitutional. And he resisted that and ended up going to jail for, died in jail as a matter of fact. And so that was, uh, I think sad. Um. But, but to me it felt like a little bit of being a political prisoner, but be that as it may, that’s how I got to know Peter. And so Peter is a guy that comes from the Austrian School of Economics and he believes in sound money. He believes in gold. He does not like Bitcoin. I’ve sat on panels the last two years with Peter, uh, in between him and Larry Lepard. And you know, Larry is a, a former gold guy. He’s still not opposed to gold, but he’s a hardcore sound money guy. But he likes Bitcoin. Peter hates Bitcoin and they get into it, and I usually sit in between ’em and try to keep things calm. Well, you know, so Peter ended up going on Fox and Friends, uh, I think on whatever it was, Friday the eighth I think it was, or whatever, whatever day that was. And he, he criticized Donald Trump’s spending. And, um, budget deficits and said that it would lead to inflation, and that’s a hot button for Trump. And so Trump, yeah. Uh, responded to him, uh, I think like four 30 in the morning on Saturday morning and called Peter, uh, a. Jerk and a total loser. Well, actually I saw it before Peter did, and so I took a screenshot and I texted it to him. I said, Hey, have you seen this? You know, maybe I’ll press is good press. And I think to a degree, maybe it has been me from, I understand Peter ended up on Tucker Carlson’s show as a result of that. So, but I made a video right after that because I, you know, there was a time when. I’m friends with Peter Schiff and I’m friends with Robert Kiyosaki. As you know, I, we introduced you to both those guys and, and at one point they didn’t like each other very much. They got into it ’cause, you know, and, and so we introduced ’em to each other and found that they had more in common than they, they didn’t. And I, I think that that would be true. Not that I’m in a position to introduce Peter to, to Donald Trump, but I think the way Peter is looking at it is true. Um, but there’s context and I think the context is super important. Now I’ve been studying Donald Trump as a businessman way before he was a presidential candidate or a politician, you know, before he was a polarizing guy, a pariah for some people. He, he was just this real estate guy. He’s good at marketing, he’s a real estate guy, and as you know. We got to know his longtime attorney, George Ross. And so I’ve had a chance to have conversations about what it was like working with Donald Trump, the real estate guy, and when he became a politician, I asked George, is he a crazy man? Does he shoot from the hip? And you know, I got a lot of reassurances that he is a sober sound. Methodical, self-disciplined guy and, and I think he uses the eroticism to keep people off balance as a negotiating tactic. And he writes about that in the art of the deal. So the context that I think that people need to have, and I’m not here to defend Donald Trump, the man. I’m not here to defend Donald Trump, the politician, but I look at the policies and what I think he’s up to in the context of realizing that we have a system that is fundamentally flawed and has to be remodeled. So to use a real estate, uh, metaphor, it would be like we have a hotel building that is very tired. It’s at the end of its life, it’s got to be remodeled, and so you can’t. Completely shut it down because it’s an operating business, so it’s gotta operate during the remodel. And so you begin to, um, reposition things and. You, you, you’re not gonna run optimally, so you’re gonna run some deficits while you’re doing the remodel. You’re gonna go into debt because you got a lot of CapEx to do, and during that period of time, your debt and deficits are gonna be a problem. But real estate guys look at debt and deficits not as a permanent condition. I think Peter is saying, Hey, you’re just running up debt and deficits. Well, in the short term he is. Honestly, I don’t think Trump is concerned about that. I think he’s focused on getting this remodel done, and part of that remodel was showed up in the last jobs report, right? We lost jobs to a degree, but they were government jobs, and what we got was a lot of gains in private sector jobs. Scott descent, his treasury secretary, has come out and overtly said, we are an administration for Main Street, not for Wall Street. So if you’re going to de financialize this economy and turn it back into a productive economy. You’re going to have to have policies that are gonna stimulate Main Street, and that’s, that’s the, the, the new units that you’ve rehabbed in your hotel that you wanna move people into. At the same time, you gotta move them outta the old units, which is people making money, trading claims on wealth instead of producing real goods and services, which is the financial ice economy. So it’s not about banking, it’s not about stocks, it’s not about Wall Street. You know, you need the stock market to stay up. But really what you need to do is you need to create production. And, and, and I think that’s fundamental. I think he understands we’re never gonna pay the debt off by cutting. We’ve got to keep the system running until we can get to some form of sound money. We’re actually paying the debt off as realistic, and then we have to earn so much money that the debt relative to our earnings shrinks. So it’s not paying down the debt, it’s paying down the percentage of GDP by growing GDP. And the presentation I did at best ever in March of 2025 was me explaining why I thought. His policies, were going to allow him to increase velocity and increase wages by cutting taxes, interest regulation, transportation costs, and, and again, that was six weeks into administration. That was theory. I’m gonna do a follow up in March of this year to say, okay, looking back when I gave the speech a year ago, what’s transpired, but I can already tell you a lot of the stuff that I thought he would do. He’s done. And I think that’s muting some of the inflation that his spending and deficits to Peter’s point are causing. And that’s why when this last CPI report came out, it wasn’t as ugly as everybody thought it would be. And, and this is when you don’t look at, when you look at it in the mono, you just look at one thing and Peter’s very fixated on this quantity of money theory. Then the expectation is that you print a bunch of money, you run a bunch of deficits, you’re gonna get inflation. And it’s just a. Equals B or A leads to B. But there are other nuances and I think Trump is looking at more like a real estate developer, which makes sense. ’cause that’s his background. Yeah, yeah, absolutely. It’s, I mean, and then the other just point to, to make there is that there is probably, um, now inflation’s a tricky thing, right? Like on the one hand you don’t want this riding up, but on the other hand, it actually helps with that debt. You’re, you’re basically eroding the debt by letting inflation ride a little bit higher at the same time. And I think the Trump administration knows that it’s a tricky thing to balance, but the goal is to, you know, get GDP pumping at, you know, four or 5%, but it’s gotta be real production buck. And that’s the difference, right? The old way of dealing with the debt was inflation. And, and I think people think that he’s using the old formula, but I don’t think he is. Well, I think it’s, I think, I think it’s definitely geared towards increasing real GDP, but I think in the process there’s probably, they probably care less a little bit. Of inflation riding up a little bit in the meantime. ’cause you’re still gonna have, I think he thinks he can mute it. I think he can mute it with lower taxes, lower interest expense, lower energy costs. And the energy is the economy. And from day one, that was the first policy. He’s, he’s aggressively gone after lowering energy costs because that has a, a, a ripple through, it just affects every area of the economy. And then the regulations in, in the last cabinet meeting. It was reported, the way I understood it, that for every regulation his administration passes, they’ve eliminated 48. So it’s actually, he’s removing the friction. And I think the bigger thing is, and I, and I was on a panel at Limitless, uh, this last summer, and TaRL, Yarborough was moderating the panel, asked the panelists what we were looking at that maybe other people weren’t looking at that. Um. You know, is, is a signal about maybe the direction it was. We, I, I can’t remember. This was a prediction panel and what I said was trade policy because everybody in finance spends all their time looking at the flow of money and trying to get in front of the flow of money. And we’re so used to the money coming from the Fed or coming from the treasury. So they’re gonna come from monetary policy or fiscal policy. And that’s what Peter’s doing. He’s looking at the Fed and he is looking at the treasury. And so what I’m looking at is not just the tariff income, which is relatively minor, but I’m looking at the trade deals, and those are published at the White House and there’s a couple trillion dollars of money that’s FDI, foreign Direct Investments coming right into Main Street. And it’s gonna build infrastructure. It’s gonna build factories. It’s good. And they tell you where it’s gonna be because they, they came back with the opportunity zones, which I thought they would do. Makes sense. It’s the way he thinks. And then taking those opportunity zones, the governors can say where in their state they want that money to go. Well, people on Wall Street don’t think geography ’cause they operate in a commodity world that trades on global exchanges. But real estate people. Geography matters a lot. So if I’m a Main Street person, I live on Main Street and I’m looking for Main Street opportunities, I wanna look where that money is going to be flowing in geographically. And then there may be opportunities in real estate or small businesses in those economies, and you can see it coming, but nobody talks about it. So I created Main Street Capitalist as a show to begin to talk about it. I still do the investor mentoring club, which is, you know. A premium thing where we get together every month and we talk about these things. And the point is, is that if you understand, I think what he’s doing, then you can, you can begin to paddle into position. And I think, again, I am really bullish if he loses inflation. If he loses to inflation, he’s cooked. He knows it. I think that that even the suggestion that Peter made that he was losing to inflation is what flared him up. And so I wasn’t trying to necessarily defend. Peter and I wasn’t trying to defend Trump, I was just trying to reconcile that it is possible that both guys could be right at the same time from their perspective. And so I, you know, I, I had one guy take exception because he felt like I was defending Trump, but for the most part, I got positive feedback on the video. I, I, I, you saw it. So you tell me. Did it make sense? Yeah, yeah, yeah. Absolutely. So when you look at today’s environment, everything going on, where do you think investors are most vulnerable? Um, I, I think that if you are very dependent upon, um, healthy credit markets, we could have a disruption. And that’s what happened to me. If Trump loses the inflation battle even for a little while, little be reflected in interest rates. And the challenge is right now that he is asked the Fed to quote unquote lower rates, but the Fed actually doesn’t like. Set rates, what they do is they set a target and then they manipulate markets to achieve those rates. And if, if people believe the fed, there’s a little bit of front running. So what’ll happen is the Fed will come out and go, oh, we’re gonna lower rates, which means bond prices are gonna go up. So they’re like, that’s great, let’s go buy a bunch of bonds, which drives rates down. So the Fed just by talking. Begins to move the market and then they hope that later on the Fed will buy those bonds from them at a profit to push rates down. Does that make sense? So, so when the last two times the Fed has raised rates in their target, the 10 year has responded in the opposite direction. Which means that the market is like not buying in, and the Fed is gonna have to step in. And when the Fed steps in, they do it by printing money out out of thin air. Now, the concern about that is that when they print the money out of thin air. If they’re replacing bonds on their own balance sheet, that’s kind of a circle and it doesn’t leak out into the economy. If they’re buying new issuance from the the treasury, then that money is gonna work its way through the government to to to main street. Now, the Trump administration can prevent some of that by keeping the money in the Treasury, for example, uh, Trump 1.0 left. The Biden administration with, I think over a trillion dollars in, in the treasury checking account, and Janet Yellen put that into the economy right away during the lockdowns, which immediately created extreme inflation because you muted production at the same time you goose. Uh. Purchasing power, you know? So anybody with like three ounces of economic understanding could have told you that that inflation was gonna come, it was gonna come hard, it was gonna come fast, and it was gonna be stickier than than you thought. ’cause once you let that money out in the economy, it’s out. It’s out and the only way to mute it is either to suck it back, which is very, very difficult, or to outproduce it, and it’s very hard to produce anything when everything’s in lockdown. So I think that, you know, those days are behind us. I think the policies that we’re embracing now are more. Pro productivity. And I think that even if the Fed does have to step in, as long as that money doesn’t leak out into the economy, and part of it is the treasury being able to throttle some of that, and the money that does go into the economy doesn’t go into stimulus, but goes into CapEx and infrastructure, that’ll actually, uh, create. Production. Then I think that, you know, this, this game plan that I think they’re trying to execute has a chance. And so I, I’m, I’m watching for it. And of course, to answer your question, what do we have to worry about that it doesn’t work? Right? If it doesn’t work, then inflation will show up. Interest rates will rise, credit markets will crash, it will take real estate values with it. And the hedge is really gonna be, what I’ve always talked about is gold. I started talking back in 2018 when we were the zero bound with interest rates. Hey, there’s only one way interest rates can go and that’s up. And if they go up fast, then that’s gonna crash bonds. So it would be smart, and that’s gonna take real estate equity with it. So it’d be smart when you have real estate equity and low rates to pull some of that equity out and move it into gold. And I called that my precious equity strategy. If I have a video I did at the Vancouver Resource Investment Conference in January of 2022, explaining that when you could still really execute on that, and I’m not saying that you couldn’t do it today, but it’s harder, but the people who did it back then, I mean, you know, they’ve, they’ve seen their gold almost triple. And at the same time, they were able to lock in interest rates that are, you know, a half what they are today. So when you see those mega trends and you can begin, and that’s the stuff I didn’t know how to do in 2006, 2007. I didn’t understand any of this stuff. The, the, you know, losing everything in 2008 forced me to become a hardcore student and then try to apply that to Main Street strategy. And so I think gold and real estate and debt, they all work really well together depending on where you are in the cycle. Do you think that Main Street investors may actually have some advantages in periods like this? Yes, a ton because I think what’s gonna happen is if we have a, um, a, a, a restructure of the financial system into something more responsible, which I think is either gonna be forced upon us or it’s gonna be done by design, and I hope we do it by design. But when that happens, then the days of just buying low and selling high and riding the inflation wave that goes away. And so now it’s gonna be very, very important to understand how to invest for. Productivity. So I call it, you know, buy low sell high trading as an acronym, B-L-S-H-T you. You can sound it out for yourself phonetically. And then the other one is poo, which is productivity of others. And I think that if people focus on investing in the productivity of others, which is what Main street investors, especially real estate investors, focus on, I think cash flow, real profits on small businesses, not speculating on. Uh, exit price or a company that’s gonna take a company public, everybody trying to tap into this giant flood of money that gets pre created from thin air in the banking system and in Wall Street. If, if, if people on Main Street will just start investing. Kind of what Kenny McElroy was doing going through 2008, just focusing on sound assets and good markets with good fundamentals. That cash flow and, and are run by good managers, whether it’s a business, an apartment building, a mobile home park, a self storage, residential assisted living doesn’t really matter. Invest in real businesses that produce real profits where you’re not overpaying for that production of income and especially where there’s some upside. Not to flipping out of the stock, but to actually growing the market share and growing the income. That’s what investing really should be. Wall Street has perverted it into just placing bets and riding a wave and trying to figure out where the money is gonna flow from the Treasury or for from Fed stimulus. And I think Main Street is gonna pick up on the new game sooner. And the good news is if you get good at playing that game, even if the system stays the same, you’re probably gonna do better off anyway. When you talk about buying, buying or investing into productive businesses, I mean, what, what’s the difference in your mind between investing in a private business versus investing in a, you know, a publicly traded business that’s run off, you know, dividends? Yeah, so I, I, I think that it could be okay if the dividend yield makes sense, but anytime you have a publicly traded security, it’s a highly liquid market, which means it’s gonna be volatile and the stocks become chips in the casinos where professional traders are just gambling all day long. And some of that gambling can create an impact on the stock, and it doesn’t matter to you if you’ve only bought it for production of income. Um. And so, uh, you know, I, I don’t think it’s bad. I’ve, you know, Peter’s always been an advocate of, uh, dividend paying stocks, and I think if you’re gonna be in the stock market, that’s what you want to do. I think the opportunity in a private placement in a small business is the opportunity not to have to pay the high multiples because it’s not a perfect market. It’s, it’s the same reason there’s so much more opportunity in real estate. If real estate could trade on an electronic exchange where. You know, millions of buyers could find it, and you could have perfect price discovery. It’s very difficult to find a deal, right? It’s very difficult. But we, if you buy a private business, you know there’s gonna be considerations. You, you deal with a, a owner. Who cares about his customers, who cares about his team, maybe would be willing to carry back the way you would if you were buying a, a, a piece of property from somebody that cares about their neighbors or whatever. I mean, there’s, there’s, there’s a lot more humanity in it. There’s a lot more room for negotiation in it. And a lot of times there’s a lot more room to have control. So, you know, one of the adages with real estate that real estate investors like is, I’m gonna buy an asset, one that I understand, two that I can control. And so when you buy a stock, like a dividend paying stock, you, you might understand the business, you may not understand completely the. Uh, market dynamics that drive the stock price. But as long as the dividends are there, that can be okay, but you don’t have any control. When you actually go buy a small business, you have a, a degree of control. Now, if you’re a passive investor buying into a syndication, then you still have a little bit more, um. Relationship, you have a little bit more insight. You maybe have a voice. You may know the people that are making the decision and running the company personally. So it’s the same thing. You know, you Buck is a syndicator. When you go do a deal, your investors know you. They have a personal relationship with you. Go buy stuff in the stock market and mutual fund managers and investor. You don’t have a relationship with that fund manager and I think that’s worth something if you have a voice right. So we’ve, we’re talking a little bit about credit markets, um, volatility, you know, interest rates. Are they gonna go down like, you know, Donald Trump would like to see, and you know, we’ve got a new fed share coming, all that kind of thing. How should investors be thinking about leverage and risk right now? I, I think the adage with real estate, uh, I mean, sorry, with leverage is always the same, is, um, you know, manage cash flow. I, if, if you use leverage to speculate, that could be a real problem. And whether you did it. Do it for real estate like I did by having very thin or negative cash flow and making that up someplace else and believing that somehow, you know, rents or appreciation are gonna do it. Or buying a non-income producing asset with borrowed funds hoping it’s gonna go higher. I think that would be dangerous, but I think if you fundamentally use debt as a tool. Based on cash flows and you use conservative cash flows, you know, so the debt service coverage ratio, you know, if you have $10,000 a month going out in debt service, make sure you have at least, you know, $12,000 a month coming in on income or above. Then that’s how you begin to build resiliency into your portfolio. And the other thing is don’t borrow long to invest short, right? So your duration matters a lot. We were talking about this before we hit the record button, and I think what happens is people. Uh, make a mistake when they try to operate like a bank. ’cause banks lend short and invest long. And the only reason they get away with it is because they have the Federal Reserve Bank system backstopping them. But you don’t have that as an individual, so you better to do the opposite. Um, if you can match the durations, that’s perfect, right? ’cause then you know what your interest expense is for the, for the duration of the investment. And once you lock in the spread, then you just have the counterparty risk of the, whoever is responsible for creating that income stream that’s gonna service the debt you use to control the asset. And then it just comes down to underwriting and then recourse. And if you feel comfortable with the underwriting and you feel comfortable with the recourse, and you’ve got spread and you’ve locked in a, a duration. Um, that, that is compatible, then that can be a, a, a fairly safe way to use debt. And if interest rates work against you, then you’re okay. And if interest rates work for you, you might be able to refinance your debt and actually increase your spread, but you don’t need it to happen to be successful. Let’s talk a little bit more about what you’re doing right now. So in the past year, you’ve launched, um, several new initiatives. You had masterminds via platforms. Tell us a little bit about this and, and a little bit more what, what you’re trying to accomplish. Well, you know, after losing my wife, um, you, you go through this. Period of time of like figuring out, okay, life is short. What do I want to get done before I left die myself. And so, um, after thinking about that, I went back to really what I came to do when I first met Robert Helms and got involved in the real estate guys. And so I just kinda went back to home base and. Then the other thing is now I’ve got 17 grandchildren, and so I’m thinking a lot less like a father, more like a, a grandfather, a founding father. And, um, and so I’m thinking about what the world is gonna be like in 40, 50, 60 years, and what can I do to plant a seed that will make that world better for my grandchildren? And so I, I did a couple things. One is, um, after I left the real estate guys, we were going through a merger with Ken McElroy, George Gammon and Jason Hartman to create, um, a mastermind group, which we did. And I, I was CEO of that for the. The year during the merger. And that took up some time. And the second thing I decided to do, uh, ironically, it was after a conversation I had with Charlie Kirk. I had a conversation with Charlie Kirk. I said, Hey, I’ve got this idea to help, uh, K through 12 get involved in, in capitalism by starting businesses or working with businesses. Their parents start, and I explained to him the model. He goes, I love it. I want to help you. And so that encouraged me. And then I had a follow up meeting in January of 20. 24 with Mark Victor Hansen, and he really encouraged me. And so with the strength of those two endorsements, I go, you know, I’m gonna do this. And so, uh, I left the real estate guys in, um. March, late March of 2024, and in the summer of 2024, I, I launched the Raising Capitalists Foundation, and people can learn more about that by going to raising capitalists plural.org. And I, I literally launched it at Freedom Fest on July 13th, 2024 and five minutes before I took the stage, Donald Trump got shot. Always remember where I was and how distracting it was, but I did record that presentation and it’s on the website, and so it explains the model. But in, in short, it’s pairing, um, or it’s, it’s putting parents who are in what Kiyosaki, uh, rich Dad would call the E-Class employees. And, uh. Put them under a mentorship program with experienced entrepreneurs and investors to help them start a business, a side hustle. They need the money and they need a mentor. And so then they, um, it can create a situation where their children can come to work for them in the business. And today, information Society, you know, there’s a lot of things kids can do where they learn real life skills, um, working with their parents. So that’s what the Raising Capitalist Foundation is all about. Then I launched two shows. Uh, in 2025, uh, one is I literally just launched like a week ago, and that’s. That Donald Trump video was really the first one that I put out, the Donald Trump versus Peter Schiff video on YouTube. I haven’t even started the podcast side of it. Um, and in on September 27th, uh, on pray.com, I started, uh, another show that, that one’s called the Main Street Capitalist. So if you go to YouTube and look at the Main Street capitalist, you’ll, you can find me there. And then the other one I created was the Christian capitalist. And I kind of went back to, you know, my, my core roots of realizing when I started looking at. Where the country was at, John Adams said that, um. Our Constitution was designed for a moral and religious people and is really wholly inadequate for any other, and so I thought, you know what? I’m I, I’m going to do that because my experience as a, as a Christian businessman is that I find that sometimes the stuff I get in church is more consumer oriented, and it doesn’t, it’s more employee oriented. I, I don’t. And, and then the other part of that is I created a, a ministry called Fellowship, a Christian capitalist, which is really about helping people put purpose into their business and then, you know, express their faith. Love your neighbor. Through their business. And so I’ve got all these different initiatives going and then I created the Main Street Media Network because I wanting to reach youth. I hired a YouTube coach and I said, look, I want to create content to encourage youth. He goes, that’s great. You can’t do it. You’re too old, he said, so what you need to do is find young people you can mentor and teach them the things that you’ve learned and let them teach it in their own words and they’ll reach their generation better than you. So with Main Street Media Network, I’m I, I’ve got. Two guys that I’m apprenticing right now, but I’m gonna be adding a lot more. Um, one, one young man is 20 years old, the other one is 26 years old. And, uh, I just came back from the Turning Point USA event where we had a broadcast booth and they were conducting interviews and I did the New Orleans Investment Conference. And so these guys are sitting down with Peter Schiff, Robert Kiyosaki, Mike Maloney, Ken McElroy, you know, you, you know what that did for you, buck with your show. You know, you, you met all these people through us and then you. We’re able to build upon that and create a very credible show. So I’m doing that for these guys that are in their twenties with the idea that they will be able to reach a generation of people. Uh, I call it putting Boomer Wisdom in Gen Z mounts. I mean, they get to process it and it gets to be their own. And I’m helping them build financial podcasts that actually make the money and is the foundation of, in this case, they’re both capital raisers of their capital raising business. I got all these different things going, but I’m doing it through leaders, so I’m not trying to do all things myself. Yeah, yeah. Um, but I’m building out an ecosystem to accomplish all these goals and so far so good. It’s a lot. Sounds working like a young man, man, man. I’ll tell you that. I know, I know. Wow. I I thought you were gonna slow down after you. No, I’ve actually, I put my, I put, I put my foot on the gas. I, I’ve probably never worked, uh, harder. Um, but I, I think I’m working smart, you know, so I’m hiring coaches and I’m bringing in, um, leaders and going through all that EOS and organizing to scale stuff. Sounds good. Well, always a pleasure, Russ. Um, make sure not to be a stranger to have you on again, um, you know, in a few months and figure out where you’re going with all this stuff. All the new things that you’ve accomplished, but it’s, uh, it’s great to see you. Well, happy to be here, proud of you. Uh, keep up the good work and keep educating people. Thank you. You make a lot of money, but are still worried about retirement. Maybe you didn’t start earning until your thirties. Now you’re trying to catch up. Meanwhile, you’ve got a mortgage, a private school to pay for, and you feel like you’re getting further and further behind. Now, good news, if you need to catch up on retirement, check out a program put out by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your money from creditors, and provide financial protection to your family if something happens to you. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealthformulabanking.com. Welcome back to the show everyone. Hope you enjoyed it. As always, Russ, uh, is, uh, you know, he’s, he’s got a lot of wisdom. He is the guy you really wanna listen to. And I would encourage you to follow his work anyway. Uh, just pivoting back, you know, to where this economy is and all that. I think for me personally, it’s about allocating capital in a market that is a, uh, is certainly losing value in its dollars. And, um, and I think that we’re gonna continue to see that. Speaking of that, make sure if you haven’t, as I mentioned before, sign up for the Accredited Investor Club. Go to wealthformula.com, go to investor club, as we have plenty of those types of things that are hedging against inflation, um, saving taxes in terms of tax mitigation strategies, that kind of thing. Check it out. That’s it for me This week on Well Formula Podcast. This is Buck Joffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit wealthformularoadmap.com.

In this episode, Dominic Rubino breaks down what Dave Ramsey and Robert Kiyosaki would tell every shop owner, contractor, and builder about going from cashflow headaches to true profit power. Whether you run a cabinet shop, millwork shop, HVAC company, electrical crew, or remodeling business, this is a simple roadmap for taking control of your money — instead of letting money control you. ⭐ What You'll Learn in This Episode • How cashflow is the "breathing" of your company • Why most shops lose money in small daily leaks • Dave Ramsey's approach to discipline and financial control • Robert Kiyosaki's mindset shift from operator → investor • How to make money work for you (not the other way around) • The difference between bookkeepers, accountants, controllers & CFOs • Why mindset affects your balance sheet • How to build long-term wealth as a contract

“I've been fighting communism by teaching capitalism,” says Robert Kiyosaki, holding up a copy of Karl Marx's “Communist Manifesto” and a copy of his book “The Capitalist Manifesto.”Robert Kiyosaki became famous as the author of “Rich Dad Poor Dad,” a book that has sold 48 million copies worldwide since its 1997 publication.Kiyosaki maintains that in today's America, plagued by high inflation and a crumbling dollar, rich dads are getting ever richer while poor dads are getting poorer:“Food gets up in price, but the poor and middle class have to pay for it. So my apartment houses go up, but the poor middle class go homeless. And that's the seed of communism, that's the seed of revolt,” he says.In this episode, we dive into what he sees as the roots of America's economic woes and what young people can do in today's economy to build wealth and prosperity.Views expressed in this video are opinions of the host and the guest, and do not necessarily reflect the views of The Epoch Times.

Carlos Feliciano (Caf Investments) rompe mitos: por qué Airbnb no es ingreso pasivo, cómo aprovechar Ley 60 si eres boricua, Plan Keogh (aporta hasta 60k), por qué las IRA/ROTH de USA no aplican en PR, la concentración del S&P 500, DCA para mortales, REITs vs. cemento y cómo evitar la deuda mala. No es asesoría financiera.Invitado: Carlos Feliciano — Café InvestmentsIG/TikTok: @cafeinvestments | Web: cafeinvestment.comPatrocinador: Titan Games (Río Piedras & Caguas). Gracias por el apoyo

Robert Kiyosaki, author of Rich Dad Poor Dad, delivers a blunt warning from the New Orleans Investment Conference. He says the U.S. dollar is “toilet paper,” the Fed is Marxist, and the American empire is collapsing under debt. Kiyosaki explains why he only trusts gold, silver, and Bitcoin, and how the rich use good debt to win while everyone else gets wiped out.#gold #bitcoin #federalreserve ---------------------Thank you to our sponsor: First Majestic SilverMake sure to pay them a visit: https://www.firstmajestic.com/---------------------

Questions? Comments?This episode explores Americans' financial well-being in 2025, using a Yahoo Finance/Marist survey as the springboard. Don and Tom discuss how their audience differs from the average American listener, how perceptions of financial health can be misleading, and what to actually do if your finances—or your feelings about them—are getting worse. They debate the usefulness of net worth tracking, stress the importance of financial literacy, and suggest automating savings. Listener questions cover indexed annuities, bond substitutes, tax implications, and long-term care sales pitches. They also read a letter defending Rick Edelman and challenging their dismissal of crypto, which leads to a lively discussion about evidence-based investing, Eugene Fama's critique of Bitcoin, and the dangers of sensationalized advice. They end with a reflection on public criticism and the value of having one's views challenged.0:29 Comparing TRM listeners to Ramsey and Kiyosaki audiences1:37 Median savings for over-65 Americans and why $200k still isn't enough2:42 Yahoo/Marist survey results: affordability, debt, emergency savings3:50 One in three say finances worsened; generational breakdown4:51 Explaining net worth, what to include and exclude7:01 Tracking net worth annually as a financial benchmark8:00 Divorce, net worth, and the joke about “kill them off”9:50 Income gap, gender differences, and perception vs. reality10:34 How uncertainty and fear shape financial outlooks11:41 Producer note joke about being “sexist but not leftist”11:50 Dissatisfaction with savings and personal spending habits13:06 Fixing bad finances: literacy, automation, benchmarking17:20 Don argues perception matters more than reality for many18:20 Listener question: fixed index annuity as bond substitute19:46 Caps, participation rates, and underperformance vs. markets21:10 Tax treatment of annuities vs. ETFs22:55 Importance of advice near retirement (decumulation phase)23:44 Listener shares bad LTC/annuity sales pitch experience24:54 Fixed annuity guarantees vs. CDs and government bonds25:39 Listener defends Rick Edelman, suggests an open dialogue26:52 Don's critique of Edelman's shift toward sensationalism29:29 Eugene Fama's comments on Bitcoin, clash with Edelman's stance31:23 Public criticism is fair game—reading recent Apple Podcast reviews32:48 Bitcoin adoption debate and institutional incentivesLearn more about your ad choices. Visit megaphone.fm/adchoices

This episode explores Americans' financial well-being in 2025, using a Yahoo Finance/Marist survey as the springboard. Don and Tom discuss how their audience differs from the average American listener, how perceptions of financial health can be misleading, and what to actually do if your finances—or your feelings about them—are getting worse. They debate the usefulness of net worth tracking, stress the importance of financial literacy, and suggest automating savings. Listener questions cover indexed annuities, bond substitutes, tax implications, and long-term care sales pitches. They also read a letter defending Rick Edelman and challenging their dismissal of crypto, which leads to a lively discussion about evidence-based investing, Eugene Fama's critique of Bitcoin, and the dangers of sensationalized advice. They end with a reflection on public criticism and the value of having one's views challenged. 0:29 Comparing TRM listeners to Ramsey and Kiyosaki audiences 1:37 Median savings for over-65 Americans and why $200k still isn't enough 2:42 Yahoo/Marist survey results: affordability, debt, emergency savings 3:50 One in three say finances worsened; generational breakdown 4:51 Explaining net worth, what to include and exclude 7:01 Tracking net worth annually as a financial benchmark 8:00 Divorce, net worth, and the joke about “kill them off” 9:50 Income gap, gender differences, and perception vs. reality 10:34 How uncertainty and fear shape financial outlooks 11:41 Producer note joke about being “sexist but not leftist” 11:50 Dissatisfaction with savings and personal spending habits 13:06 Fixing bad finances: literacy, automation, benchmarking 17:20 Don argues perception matters more than reality for many 18:20 Listener question: fixed index annuity as bond substitute 19:46 Caps, participation rates, and underperformance vs. markets 21:10 Tax treatment of annuities vs. ETFs 22:55 Importance of advice near retirement (decumulation phase) 23:44 Listener shares bad LTC/annuity sales pitch experience 24:54 Fixed annuity guarantees vs. CDs and government bonds 25:39 Listener defends Rick Edelman, suggests an open dialogue 26:52 Don's critique of Edelman's shift toward sensationalism 29:29 Eugene Fama's comments on Bitcoin, clash with Edelman's stance 31:23 Public criticism is fair game—reading recent Apple Podcast reviews 32:48 Bitcoin adoption debate and institutional incentives Learn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom dive headfirst into the wild world of bad financial predictions—specifically, the apocalyptic ramblings of Rich Dad Poor Dad author Robert Kiyosaki. They dissect his decades-long streak of failed forecasts, poke holes in his fear-fueled pitch for gold, silver, and Bitcoin, and remind listeners that gurus don't predict the future—they profit from pretending they can. Listener questions cover 529 plan choices, 457(b) vs Roth IRA, the small-cap allocation in AVGE, and a plea for Don to never give up managing his own money. 0:04 Tom banned from pushing buttons—again 1:00 Why do we idolize financial “gurus” who are chronically wrong? 2:21 Enter Robert Kiyosaki: The doomsayer who keeps getting richer 3:05 Don confronts Kiyosaki over his bogus “guarantee” ad 3:53 His silver and market crash predictions: A 23-year flop fest 5:16 Latest Kiyosaki fear-pitch: Gold, silver, Bitcoin… again 6:37 His one right prediction (Bitcoin hitting $100K) 7:55 Critical reviews: Conspiracies, platitudes, and risky advice 9:22 Can Buffett, Lynch, or Bogle be called “gurus”? 10:24 Listener Q1: Fidelity 529 target date fund—too expensive? 11:26 UTANX and low-cost age-based 529 alternatives (like Utah's plan) 14:02 Listener Q2: Roth 457(b) with high fees vs Roth IRA 16:47 Listener Q3: Does AVGE need a separate small-cap fund? 19:10 Listener Q4: Should Don stop managing his own money? 21:08 Why everyone needs a backup advisor—even advisors 22:17 Don's voice acting love: Mighty Man Season 3 teaser 22:34 Listener Q5: AVUV vs AVGE—when and why to use each 24:20 AVGE asset breakdown—15 funds in one 26:12 Explaining the podcast schedule (Monday–Friday layout) 27:34 International listeners, Spotify vs Apple, and how to tune in Learn more about your ad choices. Visit megaphone.fm/adchoices

Questions? Comments?Don and Tom dive headfirst into the wild world of bad financial predictions—specifically, the apocalyptic ramblings of Rich Dad Poor Dad author Robert Kiyosaki. They dissect his decades-long streak of failed forecasts, poke holes in his fear-fueled pitch for gold, silver, and Bitcoin, and remind listeners that gurus don't predict the future—they profit from pretending they can. Listener questions cover 529 plan choices, 457(b) vs Roth IRA, the small-cap allocation in AVGE, and a plea for Don to never give up managing his own money.0:04 Tom banned from pushing buttons—again1:00 Why do we idolize financial “gurus” who are chronically wrong?2:21 Enter Robert Kiyosaki: The doomsayer who keeps getting richer3:05 Don confronts Kiyosaki over his bogus “guarantee” ad3:53 His silver and market crash predictions: A 23-year flop fest5:16 Latest Kiyosaki fear-pitch: Gold, silver, Bitcoin… again6:37 His one right prediction (Bitcoin hitting $100K)7:55 Critical reviews: Conspiracies, platitudes, and risky advice9:22 Can Buffett, Lynch, or Bogle be called “gurus”?10:24 Listener Q1: Fidelity 529 target date fund—too expensive?11:26 UTANX and low-cost age-based 529 alternatives (like Utah's plan)14:02 Listener Q2: Roth 457(b) with high fees vs Roth IRA16:47 Listener Q3: Does AVGE need a separate small-cap fund?19:10 Listener Q4: Should Don stop managing his own money?21:08 Why everyone needs a backup advisor—even advisors22:17 Don's voice acting love: Mighty Man Season 3 teaser22:34 Listener Q5: AVUV vs AVGE—when and why to use each24:20 AVGE asset breakdown—15 funds in one26:12 Explaining the podcast schedule (Monday–Friday layout)27:34 International listeners, Spotify vs Apple, and how to tune inLearn more about your ad choices. Visit megaphone.fm/adchoices

Robert Kiyosaki Uncensored: How to Get True Financial Freedom

Robert Toru Kiyosaki is an American entrepreneur, investor, and bestselling author best known for his groundbreaking personal finance book Rich Dad Poor Dad. As the founder of The Rich Dad Company, Kiyosaki has dedicated his career to transforming the way people think about money, offering accessible financial education through books, videos, and online resources. Take action and strengthen your mind with The Resilient Mind Journal. Get your free digital copy today: ⁠⁠⁠⁠Download Now⁠⁠This episode is brought to you in partnership with The Icons by Motiversity. Hosted on Acast. See acast.com/privacy for more information.

Want to Start or Grow a Successful Business? Schedule a FREE 13-Point Assessment with Clay Clark Today At: www.ThrivetimeShow.com   Join Clay Clark's Thrivetime Show Business Workshop!!! Learn Branding, Marketing, SEO, Sales, Workflow Design, Accounting & More. **Request Tickets & See Testimonials At: www.ThrivetimeShow.com  **Request Tickets Via Text At (918) 851-0102   See the Thousands of Success Stories and Millionaires That Clay Clark Has Helped to Produce HERE: https://www.thrivetimeshow.com/testimonials/ Download A Millionaire's Guide to Become Sustainably Rich: A Step-by-Step Guide to Become a Successful Money-Generating and Time-Freedom Creating Business HERE: www.ThrivetimeShow.com/Millionaire   See Thousands of Case Studies Today HERE: www.thrivetimeshow.com/does-it-work/  

Founder of the Raising Capitalists Foundation and previous co-host of The Real Estate Guys Radio show, Russell Gray, joins Keith to discuss the historical and current devaluation of the U.S. dollar, its impact on investors, and the broader economic implications. Gray highlights how the significant increase in interest rates has trapped equity in properties and affected development. He explains the shift from gold-backed currency to paper money, the role of the Federal Reserve, and the impact of the Bretton Woods Agreement.  Gray emphasizes the importance of understanding macroeconomic trends and advocates for Main Street capitalism to decentralize power and promote productivity. He also criticizes the idea of housing as a human right, arguing it leads to inflation and shortages. Resources: Connect with Russell Gray to learn more about his "Raising Capitalists" project and his plans for a new show. Follow up with Russell Gray to get a copy of the Beardsley Rummel speech transcript from 1946. follow@russellgray.com Show Notes: GetRichEducation.com/558 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”.  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the real backstory on why we have this thing called the dollar? Why it keeps getting debased? What you can do about it and when the dollar will die? It's a lesson in monetary history. And our distinguished guest is a familiar voice that you haven't heard in a while. Today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Russell Gray  1:54   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:10   Welcome to GRE from St John's Newfoundland to St Augustine, Florida and across 188 nations worldwide. I'm Keith weinholden. You are inside get rich education. It's 2025. The real estate market is changing. We'll get into that in future. Weeks today. Over the past 100 years plus, we've gone from sound money to Monopoly money, and we're talking about America's currency collapse. What comes next and how it affects you as both an investor and a citizen.   I'd like to welcome in longtime friend of the show and someone that I've personally learned from over the years, because he's a brilliant teacher, real estate investors probably haven't heard his voice as much lately, because until last year, he had been the co host of the terrific real estate guys radio show for nearly 20 years. Before we're done today, you'll learn more about what he's doing now, as he runs the Main Street capitalist platform and is also founder of the raising capitalists foundation. Hey, it's been a few years. Welcome back to GRE Russell Gray.   Russell Gray  3:19   yeah, it's fun. I actually think it's been maybe 10 years when I think about it, I remember I was at a little resort in Mexico recording with you, I think in the gym. It was just audio back then, no video.    Keith Weinhold  3:24   Yeah, I remember we're trying to get the audio right. Then I think you've been here more recently than 10 years ago. But yeah, now there's this video component. I actually have to sit up straight and comb my hair. It's ridiculous. Well, Russ, you're also a buff of monetary history. And before we discuss that, talk about the state of the real estate market today, just briefly, from your vantage point.   Russell Gray 1  3:55    I think the big story, and I'm probably not telling anybody anything they don't know, but the interest rate hike cycle that we went through this last round was quite a bit more substantial, I think, than a lot of people really appreciated, you know. And I started talking about that many years ago, because when you hit the zero bound and you have 6,7,8, years of interest rates below half a point, the change when they started that interest rate cycle from point two, 525 basis points all the way up to five and a quarter? That's a 20x move. And people might say, well, oh, you know, I go back to what Paul Volcker did way back in the day, when he took interest rates from eight or nine to 18. That was only a little bit more than double. Double is a far cry from 20x so we've never seen anything like that. Part of the fallout of that, as you know, is a lot of people wisely, and I was on the front end of cheerleading This is go get those loans refinanced and lock in that cheap money for as long as possible, because a loan will actually become an asset. The problem is, when you do that, you're kind of married to that property. Now it's not quite as bad. As being upside down in a property and you can't get out of it, but it's really hard to walk away from a two or 3% loan in a Six 7% market, because you really can't take your same payment and end up getting more house. And so that equity is kind of a little bit trapped, and that creates some opportunities, but I think that's been the big story, and then kind of the byproduct of the story. Second tier of the story was the impact it had on development, because it made it a lot harder for developers to develop, because their cost of funds and everything in that supply chain, food chain, you marry that to the 2020, COVID Supply Chain lockdown and that disruption, which, you know, you don't shut an economy down and just flick a switch and have it come back on. And so there's all of that. And then the third thing is just this tremendous uncertainty everybody has, because we just went from one extreme to another. And I think people, you know, they don't want to, like, rock the boat, they're going to kind of stay status quo for a little bit, whether they're businesses, whether they're homeowners, whether they're anybody out there that's thinking about moving them, unless life forces you to do it, you're going to try to stay status quo until things calm down. And I don't know how close we are to things calming down.   Keith Weinhold  6:13   One word I use is normalized. Both the 30 year fixed rate mortgage and the Fed funds rate are pretty close to their long term historic average. It just doesn't feel that way, because it was that rate of increase in 2022 that caught a lot of people off guard, like you touched on Well, Russ, now that we've talked about the present day, let's go back in time, and then we'll slowly bring things up to the present day. The dollar is troubled. It's worth perhaps 3% of what it was 100 years ago, but it's still around since it was established in the Coinage Act of 1792 and it's still the world reserve currency. In fact, only three currencies have survived longer than the dollar, the British pound, the Japanese yen and the Swiss franc. So talk to us about this really relentless debasement of the dollar over time, including the creation of the Fed and the Bretton Woods Agreement and all that.   Russell Gray 7:09   That's a big story, as you know, and I always like to try to break it down a little bit. One of my specialties I'd like to believe, is I speak macro and I speak Main Street. And so when I try to break macroeconomics down, I start out with, why do I even care? I mean, if I'm a main street investor, why do I even care? In 2008 as you know, is a wipeout for me. Why? Because I didn't think anything had happened in the macro I didn't think Wall Street bond market. I didn't think that affected me. One thing I really cared about was interest rates. And I had a cursory interest in the bond market. We just try to figure out where interest rates were going. But for the most part, I thought, as a main street real estate investor, I was 100% insulated. I couldn't have been more wrong, because it really does matter, because the value of the dollar, in other words, the purchasing power of the dollar, and usually you refer to that as inflation, right? If inflation is there, the dollar is losing its purchasing power, and so the higher the inflation rate, the faster you're losing that purchasing power. And you might say, well, maybe that matters to me. Maybe it does. But the people who make the money available to the mortgage community, right to the real estate community to borrow that comes out of the bond market. And so when people go to buy a bond, which is an IOU, they're going to get paid back in the currency that they lent in, in this case, dollars. And if they know, if they're making a long term investment in a long term bond, and they're going to get paid back in dollars, they're going to be worth a whole lot less when they get them back. One of the things they're going to want is compensation for that time risk, and that's called higher interest rates. Okay, so now, if you're a main street investor, and higher interest rates impact you, now you understand why you want to pay attention. Okay, so let's just start with that. And so once you understand that the currency is a derivative of money, and money used to be you mentioned the Coinage Act Keith money, which is gold, used to be synonymous with the dollar. The dollar was only a unit of measure of gold, 1/20 of an ounce. It was a unit of measure. So it's like, the way I teach people is, like, if you had a gallon of milk and you traded, I'm a farmer, and I had a lot of milk, and so everybody decided they were going to use gallons of milk as their currency. Hey, where there's a lot of gallons of milk. He's got a big refrigerator. We'll just trade gallons of milk. Hey, Keith, I really like your beef. I you know, will you sell me some, a side of beef, and I'll give you, you know, 100 gallons of milk, you know, like, Oh, that's great. Well, I can't drink all this milk, so I'm going to leave the milk on deposit at the dairy, and then later on, when I decide I want a suit of clothes, I'll say, well, that's 10 gallons of milk. So I'll give the guy 10 gallons of milk. So I just give him a coupon, a claim, a piece of paper for that gallon of milk, or 20 gallons of milk, and he can go to the dairy and pick it up, right? And so that's kind of the way the monetary system evolved, except it wasn't milk, it was gold. So now you got the dollar. Well, after a while, nobody's going to get the milk. They don't care about the milk. And so now. Now, instead of just saying, I'll give you a gallon of milk, you just say, well, I'll give you a gallon. And somebody says, Okay, that's great. I'll take a gallon. They never opened the jug up. They never realized the jug is empty. They're just trading these empty jugs that used to have milk in them. Well, that's what the paper dollar is today. It went from being a gold certificate payable to bearer on demand, a certain amount of gold, a $20 gold certificate, what looks exactly like a $20 FEDERAL RESERVE NOTE. Today they look exactly the same, except one says FEDERAL RESERVE NOTE, which is an IOU backed by nothing, and the other one said gold certificate, which was payable to bearer on demand, real money. So my point is, is he got money which is a derivative of the productivity, the beef, the soot, the milk, whatever, right? That's the real capital. The real capital is the goods and services we all want. Money is where we store the value of whatever it is we created until we want to trade it for something somebody else created later. And it used to be money and currency were one in the same, but now we've separated that. So now all we do is trade empty gallons, which are empty pieces of paper, and that's currency. So those are derivatives, and the last derivative of that chain is credit. And you had Richard Duncan on your show more than once, and he is famous for kind of having this term. We don't normally have capitalism. We have creditism, right? Everything is credit. Everything is claims on wealth, but it's not real wealth, and it's just when we look at what's going on with our current administration and the drive to become a productive rather than a financialized society, again, as part of this uncertainty that everybody has. Because this is not just a subtle little adjustment on the same course. This is like, No, we're we're going down a completely different path. But fundamentally, your system operates on this currency that is flowing through it, like the blood flowing through your body. And if the blood is bad, your body's sick. And right now, our currency is bad, and so it creates problems, not just for us, but all around the world. And now we're exacerbating that. And I'm not saying it's bad. In fact, I think it's actually it's actually good, but change is what it is, right? I mean, it can be really good to go to the gym and work out before we started recording, you talked about your commitment to fitness, and that if you stop working out, you get unfit, and it's hard to start up again. Well, we've allowed our economy to get very unfit. Now we're trying to get fit again, and it's going to be painful. We're going to be sore, but if we stick with it, I think we can actually kind of save this thing. So I don't know what that's going to mean for the dollar ultimately, or if we end up going to something else, but right now, to your point, the dollar is definitely the big dog still, but I think it's probably even more under attack today than it's ever been, and so it's just something I think every Main Street investor needs to pay attention to.    Keith Weinhold  12:46   And it was really that 1913 creation of the Fed, where the Fed's mandates really didn't begin to take effect until 1914 that accelerated this slide in the dollar. Prior to that, it was really just periods of war, like, for example, the Civil War, where we had inflation rise, but then after wars abated, the dollar's strength returned, but that ceased to happen last century.   Russell Gray  13:11   I think there's a much bigger story there. So when we founded the country, we established legal money in the Coinage Act of 1792 we got gold and silver and a specific unit of measure of gold, a specific unit, measure of silver was $1 and that's what money was constitutionally. Alexander Hamilton advocated for the first central bank and got it, but it was issued by Charter, which meant that it was operated by the permission of the Congress. It wasn't institutionalized. It wasn't embedded in the Constitution. It was just something that was granted, like a license. You have a charter to be able to run a bank. When that initial charter came up for renewal, Congress goes, now we're not going to renew it. Well, of course, that made the bankers really upset, because bankers have a pretty good gig, right? They get to just loan people money. They don't have to do any real work, and then they make money on just kind of arbitraging, you know, other people's money. Savers put their money in, and they borrowed the money out, and then they with fractional reserve, they're able to magnify that. So it's, it's kind of a cool gig. And so what happened? Then he had the first central bank, so then they got the second central bank, and the second central bank was also issued by charter this time when it came up for renewal, Congress goes, Yeah, let's renew it, right? Because the bankers knew we got to go buy a few congressmen if we want to keep this thing going. But President Andrew Jackson said, No, not going to happen. And it was a big battle. Is a famous quote of him just calling these bankers a brood of vipers. And I'm going to put you down. And God help me, I will, right? I mean, it was like intense fact, I do believe he got shot at one point. I think he died from lead poisoning, because he never got the bullet out. So, you know, when you go to up against the bankers, it's not pretty, but he succeeded. He was the last president that paid off all the debt, balanced budget, paid off all the debt, and we got kind of back on sound money. Well, then a little while later, said, Okay, we're going to need, like, something major, and this would. I should put on. I got my, this is my hat, right now, I'll kind of put it on. This is my, my tin foil hat. Okay? And so I put this on when I kind of go down the rabbit trail a little bit. No, I'm not saying this is what happened, but it wouldn't surprise me, right? Because I know that war is profitable, and so sometimes, you know, your comment was, hey, there's the bank, and then there was, you know, the war, or there's the war, then there's a bank, which comes first the chicken or the egg. I think there's an article where Henry Ford and Thomas Edison went to Congress. I think it was December. The article was published New York Tribune, December 4. I think 1921 you can look it up, New York Tribune, front page article   Keith Weinhold  15:38   fo those of you in the audio only. Russ started donning a tin foil looking hat here about one minute ago.    Russell Gray  15:45   I did, yeah, so I put it on. Just so fair warning. You know, I may go a little conspiratorial, but the reason I do that is I just, I think we've seen enough, just in current, modern history and politics, in the age of AI and software and freedom of speech and new media, there's a lot of weird stuff going on out there, but a lot of stuff that we thought was really weird a little while ago has turned out to be more true than we thought. When you look back in history, and you kind of read the official narrative and you wonder, you kind of read between the lines. You go, oh, maybe some stuff went on here. So anyway, the allegation that Ford made, smart guy, Thomas Edison, smart guy. And they go to Congress, and they go, Hey, we need to get the gold out of the banker's hands, because gold is money, and we need money not to revolve around gold, because the bankers control gold. They control the money, and they make profits, his words, not mine, by starting wars, because he was very upset about World War One, which happened. We got involved right after Fed gets formed in 1913 World War One starts in 1914 the United States sits off in the background and sells everybody, everything. It collects a bunch of gold, and then enters at the end and ends it all. And that big influx created the roaring 20s, as we all know, which ended big boom to big bust. And that cycle, which then a crisis that created, potentially a argument for why the government should have more control, right? So you kind of go down this path. So we ended up in 1865 with President Lincoln suppressing states rights and eventually creating an unconstitutional income tax and then creating an unconstitutional currency. That's what Abraham Lincoln did. And then on the back end of that, you know, it didn't end well for him, and I don't know why, but all I know is that we had a financial crisis in 1907 and the solution to that was the Aldrich plan, which was basically a monopoly on money. It's called a money trust. And Charles Lindbergh, SR was railing against it, as were many people at the time, going, No, this is terrible. So they renamed the Aldrich plan the Federal Reserve Act. And instead of going for a bank charter, they went for a constitutional amendment, and they got it in the 16th Amendment, and that's where we got the IRS. That's where we got the income tax, which was only supposed to be 7% only affect like the top one or 2% of earners, right? And that's where we got, you know, the Federal Reserve. That's where all that was born. Since that happened, to your point, the dollar has been on with a slight little rise up in the 20s, which, you know, there's a whole thing about whether that caused the crash or not. But at the end of the day, if you go look at St Louis Fed, which you go look at all the time, and you just look at the long term trend of the dollar, it's terrible. And the barometer, that's gold, right? $20 of gold in 1913 and 1933 and then 42 in 1971 or two, whatever it was, three, and then eventually as high as 850 but at the turn of the century, this century, it was $250 so at $2,500 it would have lost 90% in the 21st Century. The dollars lost 90% in the 21st Century, just to 2500 that's profound to go. That's right, it already lost more than 90% from $20 to 250 so it lost 90% and then 90% of the 10% that was left. And that's where we're at. We're worse than that. Today, no currency, as far as I understand, I've been told this. Haven't done the homework, but it's my understanding, no currency in the history of the world has ever survived that kind of debasement. So I think a lot of people who are watching are like, okay, it's not a matter of if, it's a matter of when. And then the big question is, is when that when comes? What does the transition look like? What rises in its place? And then you look at things like a central bank digital currency, which is not like Bitcoin, it's not a crypto, it's a centrally controlled currency run by the central bank. If we get that, I would argue that's not good for privacy and security. Could be Bitcoin would be better. I would argue, could go back to gold backing, which I would say is better than what we have, or we could get something nobody's even thought of. I don't know. We don't know, but I do think we're at the end of the life cycle. Historically, all things being equal. And I think all the indication with a big run up of gold, gold is screaming something's broken. It's just screaming it right now, not just because the price is up, but who's buying it. It's just central banks.   Keith Weinhold  20:12   Central banks are doing most of the buying, right? It's not individual investors going to a coin shop. So that's really screaming, telling you that people are concerned. People are losing their faith in giving loans to the United States for sure. And Russ, as we talk about gold, and it's important link to the dollar over time, you mentioned how they wanted it, to get it out of the bank's hands for a while. Of course, there was also a period of time where it was illegal for Americans to own gold. And then we had this Bretton Woods Agreement, which was really important as well, where we ended up violating promises that had to do with gold again. So can you speak to us some more about that? Because a lot of people just don't understand what happened at Bretton Woods.   Russell Gray  20:56   What happened is we had the big crash in 1929 and the net result of that was, in 1933 we got executive order 6102 In fact, I have a picture of it framed, and that was in the wake of that in 1933 and so what Franklin Delano Roosevelt did in signing that document, which was empowered by a previous act of Congress, basically let him confiscate all The money. It'd be like right now if, right now, you know, President Trump signed an executive order and said, You have to take all your cash, every all the cash that you have out of your wallet. You have to send it all, take it into the bank, and they're going to give you a Chuck E Cheese token, right? And if you don't do it, if you do it, it's a $500,000 fine in 10 years in prison. Right? Back then it was a $10,000 fine, which was twice the price of the average Home huge fine, plus jail time. That's how severe it was, okay? So they confiscated all the money. That happened in 33 okay? Now we go off to war, and we enter the war late again. And so we have the big manufacturing operation. We're selling munitions and all kinds of supplies to everybody, all over the world, right? And we're just raking the gold and 20,000 tons of gold. We got all the gold. We got the biggest army now, we got the biggest bomb, we got the biggest economy. We got the strongest balance sheet. Well, I mean, you know, we went into debt for the war, but, I mean, we had a lot of gold. So now everybody else is decimated. We're the big dog. Everybody knows we're the big dog. Nine states shows up in New Hampshire Bretton Woods, and they have this big meeting with the world, and they say, Hey guys, new sheriff in town. Britain used to be the world's reserve currency, but today we're going to be the world's reserve currency. And so this was the new setup. But it's okay. It's okay because our dollar is as good as gold. It's backed by gold, and so anytime you want foreign nations, you can just bring your dollars to us and we'll give you the gold, no problem. And everyone's like, okay, great. What are you going to say? Right? You got the big bomb, you got the big army. Everybody needs you for everything to live like you're not going to say no. So they said, Yes, of course, the United States immediately. I've got a speech that a guy named Beardsley Rummel did. Have you ever heard me talk about this before? Keith, No, I've never heard about this. So Beardsley Rummel was the New York Fed chair when all this was happening. And so he gave a speech to the American Bar Association in 1945 and I got a transcript of it, a PDF transcript of it from 1946 and basically he goes, Look, income taxes are obsolete. We don't need income tax anymore because we can print money, because we're off the gold standard and we have no accountability. We just admitted it, just totally admitted it, and said the only reason we have income tax is to manipulate behavior, is to redistribute wealth, is to force people to do what we want them to do, punish things and reward others, right? Just set it plain language. I have a transcript of the speech. You can get a copy of you send an email to Rummel R U, M, L@mainstreetcapitalist.com I'll get it to you. So it's really, really interesting. So he admitted it. So we went along in the 40s and the 50s, and, you know, we had the only big manufacturing you know, because everybody else is still recovering from the war. Everything been bombed to smithereens, and we're spending money and doing all kinds of stuff. And having the 50s, it was great, right, right up until the mid 60s. So the mid 60s, it's like, Okay, we got a problem. And Charles de Gaulle, who was the president of France at the time, went to a meeting. And there's a YouTube video, but you can see it, he basically told the world, hey, I don't think the United States is doing a good job managing this world's reserve currency. I don't think they've got the gold. I think they printed too much money. I think that we should start to go redeem our dollars and get the gold. That was pretty forward thinking. And he created a run on the bank. And at the same time, we passed the Coinage Act in 1965 and took all the silver out of the people's money. So we took the gold in 33 and then we took the silver in 65 right? Because we got Vietnam and the Great Society, welfare, all these things were going on in the 60s. We're just going broke. Meanwhile, our gold supply went from 20,000 tons down to eight and Richard. Nixon is like, whoa, time out. Like, this is bad. And so we had inflation in 1970 August 15, 1971 year before August 15, 1971 1970 Nixon writes an executive order and freezes all prices and all wages. It became illegal by presidential edict for a private business to give their employee a raise or to raise their prices to the customers.    Keith Weinhold  25:30   It's almost if that could happen price in theUnited States of America, right?    Russell Gray  25:36   And inflation was 4.4% and it was a national emergency like today. I mean, you know, a few years ago, like three or four years ago, we if we could get it down 4.4% it'd be Holly. I'd be like a celebration. That was bad. And so that's what happened. So a year later, that didn't work. It was a 90 day thing. It was a disaster. And so in a year later, August 15, 1971 Nixon came on live TV after Gunsmoke. I think it was, and I was old enough I'm watching TV on a Sunday night I watched it. Wow. So I live, that's how old I am. So it's a lot of this history, not the Bretton Woods stuff, but from like 1960 2,3,4, forward. I remember I was there.    Keith Weinhold  26:13   Yeah, that you remember the whole Nixon address on television. We should say it for the listener that doesn't know. Basically the announcement Nixon made, he said, was a temporary measure, is that foreign nations can no longer redeem their dollars for gold. He broke the promise that was made at Bretton Woods in about 1945   Russell Gray  26:32   Yeah. And then gold went from $42 up to 850 and a whole series of events that have led to where we're at today were put in place to cover up the fact that the dollar was failing. We had climate emergency. We were headed towards the next global Ice Age. We had an existential threat in two different diseases that hit one right after the other. First one was the h1 n1 flu, swine flu, and then the next thing was AIDS. And so we had existential pandemic, two of them. We also had a oil shortage crisis. We were going to run out of fossil fuel by the year 2000 we had to do all kinds of very public, visible, visceral things that we would all see. You could only buy gas odd even days, like, if your license plate ended in an odd number, you could go on these days, and if it ended on an even number, you could go on the other days. And so we had that. We lowered our national speed limit down to 55 miles an hour. We created the EPA and all these different agencies under Jimmy Carter to try to regulate and manage all of this crisis. Prior to that, Nixon sent Kissinger over to China, and we opened up trade relations. And we'd been in Vietnam to protect the world from communism because it was so horrible. And then in the wake of that, we go over to Communist China, Chairman Mao and open up trade relations. Why we needed access to their cheap labor to suck up all the inflation. And we went over to the Saudis, and we cut the petro dollar deal. Why? Because we needed the float. We needed some place for all these excess dollars that we had created to get sucked up. And so they got sucked up in trading the largest commodity in the world, energy. And the deal was, hey, Saudis, here's the deal. You like your kingdom? Well, we got the big bomb. We got the big army. You're going to rule the roost in the in the Middle East, and we'll protect you. All you got to do is make sure you sell all your oil in dollars and dollars only. And they're like, Well, what if we're selling oil to China, or what if we're selling oil to Japan? Can they pay in yen? Nope, they got to sell yen. Buy dollars. Well, what do we do with all these dollars? Buy our treasuries. Okay, so what if I got this? Yeah, and so that was the petrodollar system. And the world looked at everything went on, and the world is like, Hmm, the United States coming back to Europe, and Charles de Gaulle, they're like, the United States is not handling this whole dollar thing real well. We need an alternative. What if all of us independent nations in Europe got together and created a common currency? We don't want to be like one country, like the United States, but we want to be like an economic union. So let's create a current let's call it the euro. And they started that process in the 70s, but they didn't get it done till 99 and so they get it done in 99 as soon as they get it done, this guy named Saddam Hussein goes, Hey, I'm now the big dog here. I got the fourth largest army in the world. I'm here in, you know, big oil producing nation. Let's trade in the euro. Let's get off the dollar. Let's do oil in the euro. And he's gone. I'm not sure I should put my hat back on. I'm not sure, but somehow we went into Afghanistan and took a hard left and took this guy out.   Keith Weinhold  29:44   Some credence to this. Yes, yeah, so. But with that said,   Russell Gray  29:47   you know, we ended up with the Euro taking about 20% of the global trade market from the United States, which is about where it sits today. And the United States used to be up over 80% and now we're down below 60% still. The Big Dog by triple and the euro is not in a position to supplant the US, but I think China, whose claim to fame is looking at other people's technology and models and copying it, looked at what the United States did to become the dominant economic force, and I think they've systematically been copying it. I wrote a report on this way back in 2013 when I started really paying attention to it and began to chronicle all the things that they were doing, this big D dollarization movement that I think still has legs. It's the BRICS movement. It's all the central banks buying gold. It's the bilateral trade agreements where people are doing business outside the dollar. There's been not just that, but also putting together the infrastructure, right? The Asian Infrastructure Bank is an alternative to the IMF looking, if you have you read Confessions of an economic hitman. No. Okay, so this is a guy that used to work in the government, I think, CIA or something, and he would go down and he'd cut deals with leaders of countries to get them to borrow from the United States to put in key infrastructure so they could trade with the US. And then, of course, if they defaulted, then the US owned that in the infrastructure. You can look it up. His name is Perkins, right. Look it up confessions of economic hit now, but you see China doing the same thing. China's got their Belt and Road Initiative. And you go through, and if you want to trade with China on that route, you have traded, you're gonna have to have infrastructure. You can eat ports. You're gonna need terminals for distribution. But you, Oh, you don't have the money. We'll loan it to you, and we'll loan it to you and you want. Now we're creating demand for you want, and we also are enslaving borrower servant to the lender. We're beginning to enslave these other nations under the guise of helping them by financing their growth so they can do business with us. It's the same thing the United States did and Shanghai Gold Exchange, as opposed to the London Bullion exchange. So all of the key pieces of infrastructure that were put in place to facilitate Western hegemony in the financial markets the Chinese have been systematically putting in place with bricks, and so there's a reason we're in this big trade war right now. We recognize that they had started to get in a position where they were actually a real threat, and we got to cut their legs out from underneath them before they get any stronger. Again, I should put my hat back on. Nobody's calling me up and telling me, I'm just reading between the lines. Sure,   Keith Weinhold  32:23   there certainly are more competitors to the dollar now. And can you imagine what rate of inflation that we would have had if we had not outsourced our labor and productivity over to a low wage place like China in the east? Russ and I have been talking about the long term debasement of the dollar and why. More on that when we come back, including what Russ is up to today. You're listening to get rich education. Our guest is Russell Gray. I'm your host, Keith Weinhold, the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com. You know what's crazy? 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This is Rich Dad advisor, Garrett Sutton. You're listening to the always valuable. Get rich education with Keith Weinhold, don't quit your Daydream.    Keith Weinhold  34:52   Welcome back to get rich education. We're talking with the main street capitalists Russell gray about this long term debasement of the dollar. It's an. Inevitable. It's one of the things we actually can forecast with pretty good predictability that the dollar will continue to debase. It's one of the few almost guarantees that we have in investing. So we can think about how we want to play that Russ one thing I wonder about is, did we have to completely de peg the dollar from gold? Couldn't we have just diluted it where we could instead say, Well, hey, now, instead of just completely depegging the dollar from gold, we could say, well, now it takes 10 times as many dollars as it used to to redeem it for an ounce of gold. Did it make it more powerful that we just completely de pegged it 100%   Russell Gray  35:36   it would disempower the monopoly. Right? In other words, I think that the thing from the very beginning, was scripted to disconnect from the accountability of gold, which is what sound money advocates want. They want some form of independent Accountability. Gold is like an audit to a financial system. If you're the bankers and you're running the program, the last thing in the world you want is a gold standard, because it limits your ability to print money out of thin air and profit from that. So I don't think the people who are behind all of this are, in no way, shape or form, interested in doing anything that's going to limit their power or hold them accountable. They want just the opposite. I think if they could wave a magic wand and pick their solution to the problem, it would be central bank digital currency, which would give them ultimate control. Yeah. And it wouldn't surprise me if we maybe, perhaps, were on a path where some crises were going to converge, whether it's opportunistic, meaning that the crisis happened on its own, and quote Rahm Emanuel and whoever he was quoting, you know, never let a good crisis go to waste, and you're just opportunistic, or, you know, put the conspiracy theory hat on, and maybe these crises get created in order to facilitate the power grab. I don't know. It really doesn't matter what the motives are or how it happens at the end of the day, it's what happens. It happened in 33 it happened in 60. In 71 it's what happens. And so it's been a systematic de pegging of any form of accountability. I mean, we used to have a budget ceiling. We used to talk about now it's just like, it's routine. You blow right through it, right, right. There's you balance. I mean, when's the last time you even had a budget? Less, less, you know, much less anything that looked like a valid balanced budget amendment. So I think there's just no accountability other than the voting booth. And, you know, I think maybe you could make the argument that whether you like Trump or not, the public's apparent embrace of him, show you that the main street and have a lot of faith in Main Street. I think Main Street is like, you know what? This is broken. I don't know what's how to fix it, but somebody just needs to go in and just tear this thing down and figure out a new plant. Because I think if you anybody paying attention, knows that this perpetual debasement, which is kind of the theme of the show is it creates haves and have nots. Guys like you who understand how to use real estate to short the dollar, especially when you marry it to gold, which is one of my favorite strategies to double short the dollar, can really magnify the power of inflation to pull more wealth onto your balance sheet. Problem is the people who aren't on that side of the coin are on the other side of the coin, and so the poor get poorer and the rich get richer. Well, the first order of business in a system we can't control is help as many people be on the rich get richer. That's why we had the get rich show, right? Let's help other people get rich. Because if I'm the only rich guy in the room, all the guns are pointed at me, right? I wanted everybody as rich as possible. I think Trump and Kiyosaki wrote about that in their book. Why we want you to be rich, right? When everybody's prospering, it's it's better, it's safer, you have people to trade with and whatnot, but we have eviscerated the middle class because industry has had to go access cheap labor markets in order to compensate for this inflation. And you know, you talk about the Fed mandate, which is 2% inflation, price inflation, 2% so if you say something that costs $1 today, a year from now, is going to cost $1 too, you think, well, maybe that's not that bad. But here's the problem, the natural progression of Business and Technology is to lower the cost, right? So you have something cost $1 today, and because somebody's using AI and internet and automation and robots and all this technology, right? And the cost, they could really sell it for 80 cents. And so the Fed looks at and goes, Let's inflate to $1.02 that's not two cents of inflation. That's 22 cents of inflation. And so there's hidden inflation. The benefits of the gains in productivity don't show up in the CPI, but it's like deferred maintenance on an apartment building. You can make your cash flow look great if you're not setting anything aside for the inevitable day when that roof is going to go out and that parking lot is going to need to be repaved, right? And you don't know how far out you are until you get there and you're like, wow, I'm really short, and I think that we have been experiencing for decades. The theft of the benefit of our productivity gains, and we're not just a little bit out of position. We're way out of position. That's   Keith Weinhold  40:07   a great point. Like I had said earlier, imagine what the rate of inflation would be if we hadn't outsourced so much of our labor and productivity to low cost China. And then imagine what the rate of inflation would be as well, if you would factor in all of this increased productivity and efficiency, the natural tendencies of which are to make prices go lower as society gets more productive, but instead they've gone higher. So when you adjust for some of these factors, you just can't imagine what the true debased purchasing power of the dollar is. It's been happening for a long time. It's inevitable that it's going to continue to happen in the future. So this has been a great chat about the history and us understanding what the powers that be have done to debase our dollar. It's only at what rate we don't know. Russ, tell us more about what you're doing today. You're really out there more as a champion for Main Street in capitalism.   Russell Gray  41:04   I mean, 20 years with Robert and the real estate guys, and it was fantastic. I loved it. I went through a lot, obviously, in 2008 and that changed me a little bit. Took me from kind of being a blocking and tackling, here's how you do real estate, and to really understanding macro and going, you know, it doesn't matter. You can do like I did, and you build this big collection. Big collection of properties and you lose it all in a moment because you don't understand macro. So I said, Okay, I want to champion that cause. And so we did that. And then we saw in the 2012 JOBS Act, the opportunity for capital raisers to go mainstream and advertise for credit investors. And I wrote a report then called the new law breaks Wall Street monopoly. And I felt like that was going to be a huge opportunity, and we pioneered that. But then after my late wife died, and I had a chance to spend some time alone during COVID, and I thought, life is short. What do I really want to accomplish before I go? And then I began looking at what was going on in the world. I see now a couple of things that are both opportunities and challenges or causes to be championed. And one is the mega trend that I believe the world is going you know, some people call it a fourth turning whatever. I don't consider that kind of we have to fall off a cliff as Destiny type of thing to be like cast in stone. But what I do see is that people are sick and tired of monopolies. We're sick and tired of big tech, we're sick and tired of big media, we're sick and tired of big government. We're sick and tired of big corporations, we don't want it, and big banks, right? So you got the rise of Bitcoin, you got people trying to get out from underneath the Western hegemony, as we've been talking about decentralization of everything. Our country was founded on the concept of decentralization, and so people don't understand that, right? It used to be everything was centralized. All powers in the king. Real Estate meant royal property. That's what real estate it's not like real asset, like tangible it's royal estate. It's royal property. Everything belonged to the king, and you just got to work it like a serf. And then you got to keep 75% in your produce, and you sent 25% you sent 25% through all the landlords, the land barons, and all the people in the hierarchy that fed on running things for the king, but you didn't own anything. Our founder set that on, turn that upside down, and said, No, no, no, no, no, it's not the king that's sovereign. It's the individual. The individual is sovereign. It isn't the monarchy, it's the individual states. And so we're going to bring the government, small. The central government small has only got a couple of obligations, like protect the borders, facilitate interstate commerce, and let's just have one common currency so that we can do business together. Other than that, like, the state's just going to run the show. Of course, Lincoln kind of blew that up, and it's gotten a lot worse after FDR, so I feel like we're under this big decentralization movement, and I think Main Street capitalism is the manifestation of that. If you want to decentralize capitalism, the gig economy, if you want to be a guy like you, and you can run your whole business off your laptop with a microphone and a camera, you know, in today's day and age with technology, people have tasted the freedom of decentralization. So I think the rise of the entrepreneur, I think the ability to go build a real asset portfolio and get out of the casinos of Wall Street. I think right now, if we are successful in bringing back these huge amounts of investment, Trump's already announced like two and a half or $3 trillion of investment, people are complaining, oh, the world is selling us. Well, they're selling stocks and they're selling but they're putting the money actually into creating businesses here in the United States that's going to create that primary driver, as you well know, in real estate, that's going to create the secondary and tertiary businesses, and the properties they're going to use all kinds of Main Street opportunity are going to grow around that. I lived in Silicon Valley, when a company would get funded, it wasn't just a company that prospered, it was everything around that company, right? All these companies. I remember when Apple started. I remember when Hewlett Packard, it was big, but it got a lot bigger, right there. I watched all that happen in Silicon Valley. I think that's going to happen again. I think we're at the front end of that. And so that's super exciting. Wave. The second thing that is super important is this raising capitalist project. And the reason I'm doing it is because if we don't train our next generation in the principles of capitalism and the freedom that it how it decentralizes Their personal economy, and they get excited about Bitcoin, but that's not productive. I'm not putting it down. I'm just saying it's not productive. You have to be productive. You want to have a decentralized currency. Yes, you want to decentralize productivity. That's Main Street capitalism. If kids who never get a chance to be in the productive economy get to vote at 1819, 2021, 22 before they've ever earned a paycheck, before they have any idea, never run a business. Somebody tells them, hey, those guys that have all that money and property, they cheated. It's not fair. We need to take from them. We need to limit them, not thinking, Oh, well, if I do that, when I get to be there, that what I'm voting for is going to get on me. Right now, Keith, there are kids in ninth grade who are going to vote for your next president, right?   Keith Weinhold  45:56   And they think capitalism is evil. This is part of what you're doing with the raising capitalists project, helping younger people think differently. Russ, I have one last thing to ask you. This has to do with the capitalism that you're championing on your platforms now. And real estate, I continue to see sometimes I get comments on my YouTube channel, especially maybe it's more and more people increasingly saying, Hey, I think housing should be a human right. So talk to us about that. And maybe it's interesting, Russ, if I take the other side of it and play devil's advocate, people who think housing is a human right, they say something like, the idea is that housing, you know, it's a fundamental need, just like food and clean water and health care are without stable housing. It's incredibly hard for a person to access opportunities like work and education or health care or participate meaningfully in society at all. So government ought to provide housing for everybody. What are your thoughts there?   Russell Gray  46:54   Well, it's inherently inflationary, which is the root cause of the entire problem. So anytime you create consumption without production, you're going to have more consumers than producers, and so you're going to have more competition for those goods. The net, net truth of what happens in that scenario are shortages everywhere. Every civilization that's ever tried any form of system where people just get things for free because they need them, end up with shortages in poverty. It doesn't lift everybody. It ruins everything. I mean, that's not conjecture. That's history, and so that's just the way it works. And if you just were to land somebody on a desert island and you had an economy of one, they're going to learn really quick the basic principles of capitalism, which is production always precedes consumption, always 100% of the time, right? If you're there on that desert island and you don't hunt fish or gather, you don't eat, right? You don't get it because, oh, it's a human right to have food. Nope, it's a human right to have the right to go get food. Otherwise, you're incarcerated, you have to have the freedom of movement to go do something to provide for yourself, but you cannot allow people to consume without production. So everybody has to produce. And you know, if you go back to the Plymouth Rock experiment, if you're familiar with that at all, yeah, yeah. So you know, just for anybody who doesn't know, when the Pilgrims came over here in the 1600s William Bradford was governor, and they tried it. They said, Hey, we're here. Let's Stick Together All for one and one for all. Here's the land. Everybody get up every day and work. Everybody works, and everybody eats. They starved. And so he goes, Okay, guys, new plan. All right, you wine holds. See this little plot of land, that's yours. You work it. You can eat whatever you produce. Over there, you grace. You're going to do yours and Johnson's, you're going to do yours, right? Well, what happened is now everybody got up and worked, and they created more than enough for their own family, and they had an abundance. And the abundance was created out of their hunger. When they went to serve their own needs, they created abundance forever others. That's the premise of capitalism. It's not the perfect system. There is no perfect system. We live in a world where human beings have to work before they get to eat. When I say eat, it could be having a roof over their head. It could be having clothes. It could be going on vacation. It could be having a nice car. It could be getting health care. It doesn't matter what it is, whatever it is you need. You have the right, or should have, the right, in a free system to go earn that by being productive, but the minute somebody comes and says, Oh, you worked, and I'm going to take what you produced and give it to somebody else who didn't, that's patently unfair, but economically, it's disastrous, because it incentivizes people not to work, which creates less production, more consumption. I have another analogy with sandwich makers, but you can imagine that if you got a group if you got a group of people making sandwiches, one guy starts creating coupons for sandwiches. Well then if somebody says, Okay, well now we got 19 people providing for 20. That's okay, but then all the guys making sandwiches. Why making sandwiches? I'm gonna get the coupon business pretty soon. You got 18 guys doing coupons, only two making sandwiches. Not. Have sandwiches to go around all the sandwiches cost tons of coupons because we got way more financialization than productivity, right? That's the American economy. We have to fix that. We can't have people making money by just trading on other people's productivity. We have to have people actually being productive. This is what I believe the administration is trying to do, rebuild the middle class, rebuild that manufacturing base, make us a truly productive economy, and then you don't have to worry about these things, right? We're going to create abundance. And if you don't have the inflation is which is coming from printing money out of thin air and giving to people who don't produce, then housing, all sudden, becomes affordable. It's not a problem. Health care becomes affordable. Everything becomes affordable because you create abundance, because everybody's producing the system is fundamentally broken. Now we have to learn how to profit in it in its current state, which is what you teach people how to do. We also have to realize that it's not sustainable. We're on an unsustainable path, and we're probably nearing that event horizon, the path of no return, where the system is going to break. And the question is, is, how are you going to be prepared for it when it happens? Number two, are you going to be wise enough to advocate when you get a chance to cast a vote or make your voice heard for something that's actually going to create prosperity and freedom versus something that's going to create scarcity and oppression? And that's the fundamental thing that we have to master as a society. We got to get to our youth, because they're the biggest demographic that can blow the thing up, and they're the ones that have been being indoctrinated the worst.   Keith Weinhold  51:29   Yes, Fed Chair Jerome Powell himself said that we live in a economic system today that is unsustainable. Yes, the collectivism we touched on quickly descends into the tyranny of the majority. And in my experience, historically, the success of public housing projects has been or to mixed at best, residents often don't respect the property when they don't have an equity stake in it or even a security deposit tied up in it, and blight and high crime rates have often followed with these public housing projects. When you go down that path of making housing as a human right, like you said earlier, you have a right to go procure housing for yourself, just not to ask others to pay for it for you. Well, Russ, this has been great. It's good to have your voice back on the show. Here again, here on a real estate show. If people want to connect with you, continue to see what you've been up to and the good projects that you're working on, promoting the virtues of capitalism. What's the best way for them to do that?   Russell Gray  52:31   I think just send an email to follow at Russell Gray, R, U, S, S, E, L, L, G, R, A, y.com, let you know where I am on social media. I'll let you know when I put out new content. I'll let you know when I'm a guest on somebody somebody's show and I'm on the cusp of getting my own show finally launched. I've been doing a lot of planning to get that out, but I'm excited about it because I do think, like I said, The time is now, and I think the marketplace is ripe, and I do speak Main Street and macro, and I hope I can add a nuance to the conversation that will add value to people.   Keith Weinhold  53:00   Russ, it's been valuable as always. Thanks so much for coming back onto the show. Thanks, Keith.   Yeah, terrific, historic outline from Russ about the long term decline of the dollar. It's really a fresh reminder and motivator to keep being that savvy borrower. Of course, real estate investors have access to borrow giant sums of dollars and short the currency that lay people do not. In fact, lay people don't even understand that it's a viable strategy at all. Like he touched on, Russ has really been bringing an awareness about how decentralization is such a powerful force that reshapes society. In fact, he was talking about that the last time that I saw him in person a few months ago. Notably, he touched on Nixon era wage and price controls. Don't you find it interesting? Fascinating, really, how a few weeks ago, Trump told Walmart not to pass tariff induced price increases onto their customers. Well, that's a form of price control that we're seeing today to our point, when we had the father of Reaganomics, David Stockman here on the show, five weeks ago, tariffs are already government intervention into the free market, and then a president telling private companies how to set their prices, that is really strong government overreach. I mean, I can't believe that more people aren't talking about this. Maybe that's just because this cycle started with Walmart, and that's just doesn't happen to be a company that people feel sorry for. Hey, well, I look forward to meeting you in person in Miami in just four days, as I'll be a faculty member for when we kick off the terrific real estate guys Investor Summit and see and really getting to know you, because we're going to spend nine days together. Teaching, learning and having a great time on a cruise ship in the Caribbean. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  55:13   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  55:36   You know whatever you want, the best written real estate and finance info. Oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read. And when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, GRE to 66866   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

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