Honestly if you're a billion in debt, you're fucking baller mate
this post was submitted on 04 Jan 2024
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If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
-- J. Paul Getty
I couldn’t go that hard if I tried.
If you owe the bank a thousand dollars you have a problem. If you owe the bank a billion dollars the bank has a problem.
He’s told his followers that “cash is trash” and that he doesn’t trust the U.S. dollar, calling it “fake.” Instead, he’s recommended investing in assets like precious metals, bitcoin or Wagyu cattle
Hah
Maybe he's just doing research for his hit sequel: "Rich dad, 1 billion dollar in debt dad"
Kiyosaki has continued to espouse those financial views (and has explored extreme political perspectives, including adopting right-wing-media talking points in his call for the impeachment of President Joe Biden).
Not all morons support the baseless impeachment, but rich people who support the baseless impeachment are all morons.
And they never want to impeach him for the right reasons, like going around Congress to send weapons to an ally committing a genocide.
Committing genocide would be the reason conservatives vote for a candidate, not impeach a candidate.
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Yeah, still not even remotely impeachable, and would be an incredibly bad reason too. They could, you know, just use their powers to pass a law and stop him.
If Books Could Kill had a brutal episode on this chucklehead: https://podtail.com/en/podcast/if-books-could-kill/rich-dad-poor-dad/
All he knows how to do is pedal-to-the-metal on scams. It’ll catch up with him eventually, but too late for all the people he’s hurt along the way.
Great to see some love for If Books Could Kill!
Just wish they could pump out a bit more content :P
Just finished listening to the podcast! Many thanks for the recommendation!!!
Every clip I ever seen about him just made me think he’s a fraud who’s good at talking. He’ll say things in a certain way to make it sound interesting, but really he doesn’t know what he’s talking about.
Sooo… poor dad.
So does that make him rich or poor?
He's so poor that he's rich again.
Underflow Error
Yes.
Really rich
So the title was more autobiographical than we knew- he gets rich and then becomes poor.
So.. is he the rich dad or the poor one?
Yes
Both, the title of his book is his situation, first he's rich dad, then he become poor dad.
Being able to leverage massive debt is squarely a rich dad thing
I've read his book a few years ago, and he was pretty bullish on risky investments, so...
I wonder if he has assets the bank could seize? If they gave him loans without collateral, then they are idiots.
banks don't offer a billion in loans without collateral.
even with the NY trump fraud case... the core of the problem is that his collateral was over valued and inflated. there are definitely assets the bank will be seizing. they may or may not be way over inflated because this dude is a grifter, but details.
Yeehaww it's bankruptcy court for me!
He blatantly said in an interview, proud at that too, that he doesn't pay tax and everyone should avoid paying too.
Kiyosaki’s investment strategy is multifaceted. He is known for his stance against fiat money, labeling it in derogatory terms and instead advocating for investment in what he calls “real assets” like Bitcoin, silver, gold and Wagyu cattle. Bitcoin, in particular, is a favorite of his, perceived as a hedge against the deteriorating value of the U.S. dollar. Kiyosaki views gold, another key component of his portfolio, as more stable and reliable than cash, which he calls “trash" because he just doesn't "trust the frickin' dollar." He has expressed a willingness to increase his gold holdings even if prices drop significantly
Via https://finance.yahoo.com/news/rich-dad-poor-dads-robert-193714809.html
what's hilarious, is that BTC is only worth something because people pay fiat for it.
Everything is only worth something because people pay fiat for it. But the value of many things increases over time, whereas fiat decreases. This isn't revolutionary stuff, this is basic rich people economics. Assets grow, cash shrinks.
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That's all ridiculous but if the price of gold tanks that's kind of the right time to buy it if you have the opportunity.
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So he finally chose one, huh? Why did he pick poor dad though?
Does any one know what the book says?
Yes, it says, 'don't buy depreciating assets' and 'buy things that appreciate in value, opposed to blowing all your money on consumer items.'
If that sounds like advice you've heard before from many other places, it's because it's not new, it was just wrapped in a good title. It's astonishing how much a book with a good title can sell if it lands just right.
because it’s not new, it was just wrapped in a good title. It’s astonishing how much a book with a good title can sell if it lands just right.
(Relatively) benign example: Mark Manson's "The Subtle Art of Not Giving a F*ck". Basically a summary of the greats of philosophy and psychology, age old but often solid advice, brings nothing new to the table, but repackaged as a blunt chat with your bro / self-help book so it's quite accessible. Padded out and repeats itself like most self-help books because $$$, sometimes contradicts himself, 8 million copies sold.
Bad example: Peterson's "12 Rules for Life". Same as above, but overly wordy because the author's vain, includes stuff like long discredited Jungian crap and religious nonsense, more egregious elementary mistakes, and mixed with his own stupid political opinions. Part of the alt-right pipeline. 10 million copies sold.
Honestly, I think schools should force kids to read Marcus Aurelius' Meditations and have a discussion on that.
Or maybe I should rewrite Meditations, title it "The 13 Rules of a Roman Emperor: How to Stop Giving a Shit and Live a Fucking Good Life." Adjust the vocab to that of a 13 year old and perhaps have a picture of Marco Aurelius chopping someone's head off on the cover.
Should probably write it under a pen name too. Lance Powercock, John Steel, Max Iron, Peter Powers, something like that.
e: Dick Hardy, Hank Killjoy, Vance Strongfist, Sebastian Steelsword, Roger T. Ripper, ...
The 13 Rules of a Roman Emperor: How to Stop Giving a Shit and Live a Fucking Good Life
Why bother with a book? What you've described was the structure of a dozen "documentaries" created for Netflix last year.
Beef Slamchest, Blast Hardcheese, Slab Bulkhead, Butch Deadlift, Bolt Vanderhuge, Flint Ironstag, Bob Johnson... Oh wait.
Lance Powercock
My Chuck Tingleverse officially licensed rpg character Bigfoot Buckaroo is not an author. He's a Bigfoot Buckaroo. I thought I was clear.
Years ago, I read it up until the point that he described his "wallet" endeavor.
He decided he was going to sell shitty velcro wallets. So he got some factory in SE Asia or China proper to manufacture them for pennies, and he sold them for dollars. As I recall, he was proud of how low paid the labor was.
So just like every other cockhole who thinks they're "self made," he started with money, used that money to exploit far away people with less power than him, and sold a product that nobody needs to people who could have spent their dollars on something more useful.
Of course, whatever substantial money he ever made was from the book. Just another scammer.
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