Moving Beyond the Dollar with Gold and Silver - Robert Kiyosaki, Andy Schectman

Introduction

This tutorial provides insights and actionable strategies for safeguarding your financial future by moving beyond traditional investment methods. Drawing from a discussion between Robert Kiyosaki and Andy Schectman, we explore the importance of investing in tangible assets like gold and silver, the implications of global economic shifts, and the potential risks associated with conventional financial strategies.

Step 1: Understand the Limitations of Conventional Financial Wisdom

• Recognize that traditional advice often encourages saving in vehicles like 401(k)s and IRAs.
• Realize that these methods can trap individuals in the "rat race," limiting true financial freedom.
• Focus on improving financial education to empower informed decision-making rather than relying on conventional financial practices.

Step 2: Emphasize the Importance of Gold and Silver

• Acknowledge that accumulating tangible assets is essential for long-term wealth.
• Follow a disciplined approach to investing in gold and silver, similar to Schectman’s practice of regular accumulation.
• Understand that gold and silver serve as reliable stores of value, especially in times of economic uncertainty.

Step 3: Stay Informed About Global Economic Changes

• Keep an eye on the rise of BRICS nations (Brazil, Russia, India, China, South Africa, and Saudi Arabia) and their moves away from the U.S. dollar.
• Analyze how these shifts could undermine the dollar's dominance, particularly in global oil markets.
• Assess the potential implications for your investments and savings as the value of the dollar may decline.

Step 4: Prepare for Potential Banking Crises

• Be aware of warnings from the FDIC regarding possible bank runs and the risks of "bail-ins," where depositors' money could be used to stabilize failing banks.
• Understand that unlike past bailouts funded by taxpayers, these bail-ins could directly affect individual savings.
• Consider diversifying your assets to mitigate risks associated with banking instability.

Step 5: Explore the Future of Money

• Investigate the role of blockchain technology in the development of a commodity-backed digital currency system.
• Recognize the potential for such a system to provide stability compared to fiat currencies and digital assets that can be easily devalued.
• Stay updated on innovations in financial technology that could impact your investment strategies.

Conclusion

Investing in tangible assets like gold and silver can be a strategic move in an unpredictable economic landscape. By understanding the limitations of traditional financial advice, staying informed about global economic shifts, and preparing for potential financial crises, you can better protect and grow your wealth. Consider implementing these strategies to navigate the changing financial world and safeguard your financial future.