‘Rich Dad, Poor Dad’ Author Issues Warning

WASHINGTON—Robert Kiyosaki, coauthor of one of the bestselling finance books of all time, “Rich Dad Poor Dad,” has empowered millions of people to think like the rich and take control of their personal finances.

Now he’s sounding the alarm on what he says are hidden communist methods that are capturing the nation’s financial systems and silently robbing Americans of their purchasing power.

Kiyosaki diagnosed the United States’ fiscal health during an interview with Jan Jekielek, host of “American Thought Leaders,” on EpochTV.

He described symptoms across the nation, including increased homelessness, a fragile economy, and a lower quality of life for many Americans.

Knowledge Is Power

While Kiyosaki was studying in New York at the age of 18, an economics professor advised him to read Karl Marx’s “Communist Manifesto” because it was important to “know your enemy.” 

According to Kiyosaki, similar communist ideologies are now ingrained in academia across the country.

“I teach capitalism, but our schools are taught by Marxists,” Kiyosaki said. “The problem is our school system; the communists are academics … our professors.”

Some lack awareness of the ideology’s infectious spread or its consequences because they’ve never lived under communist rule, he said.

They are good people, he said, but they don’t realize that their whole value system is based on their education status and perceived intelligence.

Kiyosaki also said hidden communist methods are capturing the United States’ financial systems and silently robbing Americans of their purchasing power. 

Understanding money and monetary policy is essential to building wealth, according to the tycoon, who suggested that the nation’s current fiscal system is devaluing the dollar.

Controlling the Money

Kiyosaki described the U.S. Federal Reserve Bank—established in 1913 to stabilize the nation’s monetary supply following years of extreme volatility, and preventing panic—as a Marxist organization.

“When the Fed came to America, it was the end of America—and our freedom is being stolen via our money,” Kiyosaki said.

“As most people know, there’s a big movement to end the Federal Reserve Bank, because it’s not federal, it’s not a reserve, and it’s not a bank.”

He cited Gresham’s Law—a financial principle named after Sir Thomas Gresham, which states that debased or bad money chases good money out of economic systems.

U.S. currency was once tradeable for silver or gold. The Federal Reserve notes in circulation today, however, carry no guarantees, which results in significantly devalued currency, Kiyosaki said.

Marxists want to destabilize society by “taking the currency,” Kiyosaki said.

“You make the currency fake, and that’s what happened when the Federal Reserve Bank came in,” he said.

Learning by Example

Kiyosaki traveled the globe observing how monetary policies and authoritarian ideologies affect economies.

Spending time in Zimbabwe during the period of extreme hyperinflation gave him an inside perspective on the situation, and he said he sees similarities in the United States.

“They kept printing money … and Zimbabwe collapsed,” Kiyosaki said. “America is doing the same thing.”

Loose monetary policy over the past five years exacerbated wealth disparity and contributed to societal problems, according to Kiyosaki.

“Homelessness is exploding, because every time you print money, two things go up: taxes and inflation,” he said.

Kiyosaki suggests that everyone study the history of the United States and the establishment of the IRS. He cautioned that taxes are vital components of communist systems and said that the United States “was founded as a tax revolt against Mother England,” with a long history of protesting taxation.

Suggestions for Investors

Although he warns of these problematic internal systems, Kiyosaki said he encourages people to remain optimistic.

He said that no two paths are the same and that every individual must find what works for him or her.

“There’s a million ways to financial heaven,” Kiyosaki said. “There’s a billion ways to financial hell, and most people go to financial hell.”

He predicted volatility in the stock market that could negatively affect many current and future retirees who invested their savings in index funds, 401(k) plans, IRA accounts, and other traditional financial instruments.

“My generation of boomers, they’re going to have a rug pulled out from underneath them,” Kiyosaki said. “Because when this market comes down, which it is coming down now, they have no retirement.”

Those looking to follow his lead are advised to find a topic they are passionate about and dedicate the time and resources to identify opportunities.

He said that the board game Monopoly taught him a lot about capitalism and financial freedom, and that he still considers himself a 10-year-old boy playing a game.

“I’ve lost a lot of money in my time. I made a lot of mistakes, but I’m still playing Monopoly,” Kiyosaki said.

“Sometimes you win, and sometimes you lose, but every time you lose, you get smarter.”

—Travis Gilmore; Jan Jekielek; Stacy Robinson

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—Stacy Robinson