FedCoin: The War Against Your Wealth - EB Tucker and Robert Kiyosaki
(upbeat ambient music) - [Narrator] This is "The Rich Dad Radio Show". The good news and bad news about money. Here's Robert Kiyosaki.
- Hello, hello, hello, Robert Kiyosaki, The Rich Dad Radio Show. (swoosh) I'm here with Kim and with special guest today, EB Tucker and it's a subject that is going quick, rapidly changing. So don't listen to a word we're saying, just hear what we're saying, (chuckles) because it's just time to pay attention.
Any comments Kim? - Yeah, well, EB Tucker is the author of the book. "Why gold? Why Now?" We're gonna talk about gold and we're gonna talk about cryptocurrencies, Bitcoin, we're gonna talk about the Fedcoin, we're gonna talk, and everything is, as you said Robert changing so quickly. (chuckles) Oh my goodness. And I think EB has a few revelations that may, you're gonna wanna stay tuned for. - So, Kim and I have been golden and silver bugs for years, we've have gone to Bitcoin a while ago, to well, picked it up at seven or nine.
And today I'm listening about, I'm hearing about Fedcoin or whatever that means. And I was listening to Rickards, Jim Rickards, my friend talk about it. And everything is so transient right now. I hate to use that word. (chuckles) Besides really the time to pay attention, so EB, welcome to the program. - Welcome EB.
- [EB] Thanks for having me back. - And let's first go over something, I've always been curious about is the gold royalty business, but what is the biggest company that does that out in Nevada, Franco-Nevada? - Franco-Nevada, but then the thing to realize in the book, chapter 24, I talk about the best business in the world, it's the story of how Franco-Nevada started in the 80s. They bought a royalty for $2 million that's returned over $1 billion in cash payments, $1 billion in cash payments, yeah, since that time.
So Franco-Nevada is the perfect case study for people to realize what's possible in the royalty business, but Robert, I want you to think about the word royalty, royal. So you don't see the queen doing a lot of blasting and digging at the mine site, she takes her percentage, clip right off the top, I mean the 1%, 2%, whatever. And she says, you boys do whatever you wanna do down there, but I'll take my 1% once you pull it up to the surface, that's the concept of the business. Franco-Nevada doesn't have to invest in that mine that's paid a billion dollars back. And I think once people see that, it really shows them the power of that business.
- Another word, I'll make an industrious, what is your, the fund you're on or the mine that you're on this? - So Metalla Royalty Tickers, MTA in the US or the New York Stock Exchange and Metalla is very similar to Franco, the business is very similar, we have 72 royalties now, and it's only gold and silver focus. And the premise is you have decades of exposure to higher gold prices without having to make any investment. The company's got about four employees. It's really fascinating.
I mean, nowadays, you don't wanna have a business anymore Robert, with 1000s of employees, that's a recipe for disaster. So I like the business with four employees. - Right. Again, Kim and I, China is now the largest gold producer in the world. - Yeah. - And the reason is they took our gold mine.
(laughing) - We had a good gold mine. - We started a gold mine in the 90s in Dalian China. And when we struck gold, Kim and I were billionaires for about a day until the Chinese realized what we had done, and so we got no royalties, we had all the loss and now they're the biggest producers in the world. So I'm kind of interested in Franco-Nevada, and Metallica right now. (laughing)
- 'Cause it was a painful lesson. - So the thing to you, this is a very important thing that you recognize is that where the mine is, is a big problem because you can't move the mine. - Right. - You and Kim couldn't have said, wait a minute, let's relocate this thing to a friendly country.
So, when you look at the map of the royalties that Metalla owns on the website, you'll see that they're spread across friendly territory. And Canada is a great place, there is a lot of royalties in Canada, Nevada is a great place. You have a court system in Nevada where if someone tries to take the mine, you can go over there and defend yourself. And so to your point, that's a great, that's a very, very key part of the royalty business.
- So EB, how exactly does the royalty business work, are you part of the mines or how does it work? - No, you have nothing to do with them, except for you have a 1% or 2% claim on everything that's found in that ground. - Okay. - So I want you to think of it like this, so you're a farmer somewhere and you have this big piece of land and someone comes out and says, I wanna explore on your land and I'll give you 1% of anything I find. And you say, go ahead, have at it 'cause I don't think there's anything here, but a bunch of scrub brush.
Well, 10 years later he says, look, it turns out I found something here and I'm gonna sell my claim to someone else and you can keep the royalty 'cause that's your right. And then years down the road, there's an actual mine there that's gonna begin production, and you've got a 1% claim to every mineralized asset that comes out of the ground there. You hear about this in the oil business all the time. You know, it's a guy in Texas that ends up with a huge natural gas mine on the site, right? Huge wells producing and he becomes very rich, far wealthier than he could have become farming cotton.
Okay. So that's the concept of the business is that it's exposure to production without having to participate. That farmer didn't ever have to go work on the natural gas well in Texas, you know, he just stayed in his rocking chair and waited for the postman to come with the checks. So a mining company wants to mine on this property and there's an existing royalty that dates back oftentimes 20, 30 years when someone started looking for gold on that property. That's what Franco-Nevada bought by the way, they didn't go looking for gold, in fact, the founder of Franco-Nevada realized that looking for gold is a terrible business.
I mean, you're almost better off buying lottery tickets at the gas station, the odds are better and it's very hard to find a big gold mine. And so if you can pull these royalties that are in areas that have a chance at having a gold mine, you can pay a proper price for them. That's the other key. And then a gold mine is discovered there, it's unbelievable the economics. And so you get to capture that income without having to operate bulldozers and, run the mine yourself, you just sit back and monitor.
- So that's what we should've done, but we didn't do, (laughing) how does somebody get in touch with Metallica? I mean, they. - Metalla. - Metalla. - Metalla, if you've got access to a computer, which I'm curious how you're not watching this right now if you don't, you can type in the ticker symbol, MTA, and it should pop right to the website or to the company's details at any brokerage account and there's a great presentation there. The investor relations team is very responsive and they're happy to walk you through the business, but I gotta tell you Robert, it's very, very simple. Remember, a widget company is complicated.
You've got to buy all the materials, put them together, with a royalty company, you just look at the royalties and you can analyze them very easily and then the gold price does the rest. I mean, as the gold price climbs, the value of the royalties climbs dramatically. So you end up with a multiplier effect.
- Well, we understand how tough it is to mine. - [Kim] Yes, we do. - It's a zoo plus. - And when you try the royalty business, I mean, it's probably right up your alley after your experience that you've been through. - Right. I just don't like dealing with the Chinese.
(laughing) - Nah, I mean. - So I think a lot of people are hearing you say that and they don't have context. Let me just add one thing, in 2014, I went to Cambodia to see the country's first commercial gold mine. And when I arrived there, there was a group of 30 Chinese that arrived the night before, they had a mining concession on an adjacent piece of property.
I've never seen anything like it. They hit the ground and they dispersed into the woods with all their geological exploration gear. And the guys told me, they said, wait and see what happens, these guys, they won't even sleep.
I mean, they'll find everything that's here and repatriate it and this is what they do. They're intent on being the world's biggest gold miner. And you have to ask yourself, if gold is so stupid, like you read the US financial news, gold is useless and it's a barbarous relic, and nobody wants it and only strange people that are out of touch, why do the Chinese want it? I mean, they want every ounce, they won't let you leave the country with an ounce. And it's really interesting to think about that.
- Yeah. So let me get a word in here, okay. - Sure. - I've seen them all over the world now, what you're saying is true. I've seen them in Zimbabwe, Cameroon and America sits there, we send it in troops and they send in capitalists.
It is the most shocking thing to watch what China is doing. And then, we talk about the Kardashians or whatever America talks about these days. So anyway, I wanna get into this whole thing, we'd better wake up pretty quickly. So Kim and I love gold and we have tons of gold, physical gold. I don't hold paper. - And silver.
- We don't hold paper gold, we don't hold ETFs. And we don't own mining shares, except for a few companies that we did start. So we're doing very well in gold.
The concern I wanna talk to you about right now is like I said, Jim Rickards is a friend of mine and I've been studying this Fedcoin concept. And I don't know if one of the reasons gold is so important is because simply because gold and silver are money, they've been there, we call it God's money 'cause I've been all over the world, looking for gold and silver, trudged up and down mountain sides and seeing sites that were 1000s of years ago by the (indistinct) or the Chinese. And in '71, when Nixon took the dollar off the gold standard, what else happened is our schools took the subject of gold out of study.
I think it's so interesting EB, and then you work for a friend of mine, his name is Doug Casey. He and I were just in Cancún together about three weeks ago, (chuckles) where they old guys been singing on the hymnal of gold for all these years. And then now we have (chuckles) crypto or Fedcoin. So what is your prognosis on this whole industry going from the, what I call God's money to people's money or crypto money, which was Bitcoin and then now the fed is realizing that Bitcoin was kicking their butt and they'd better get into Fedcoin or whatever we call it right now? - Digital currency, yeah. - Digital.
What do you see happening? - Well, I mean, it's a financial prison. Chapter 17 of my book, I have a chapter on Fedcoin, it's a term that I first came up with in 2016 when people didn't even know what Bitcoin was and we were talking about Fedcoin, which shows that we're a little out of touch. We realize people need to stair-step into these ideas, but Fedcoin has been in the works for a long time. If you think about it, the United States uses the dollar as a weapon around the world. Okay, you hear this all the time, Russia's bad, we're gonna use sanctions against people there.
Iran is bad, we're gonna use sanctions, and what are the sanctions? These sanctions are we'll block you out of using any sort of modern day currency in the financial system. And of course, Bitcoin has been a workaround for some people. And if you are a technocrat that likes to run around the world and smack people when they don't obey your orders or they conflict with what you wanna do, you don't want things that allow people to get around that. So it's totally logical that the currency would evolve. Now, what does Fedcoin do? Fedcoin is a digital currency idea that would replace the dollar.
Now it wouldn't replace $1 bills or something because you still have to have something to buy a soda with, or whenever you consume, I mean, this is, we're talking about moving regular amounts of money, buying things, and the average person would get used to having a digital wallet. That's now a term that you're comfortable with, right? Remember, 20 years ago, we talked about an E-dollar and everybody said this is terrible, we can't do this, but now everyone's comfortable with the digital wallet. I mean, even older generations are comfortable with the idea of having digital money.
And so Fedcoin does a few things, number one, it makes it impossible. - So EB, back-up, hang on. - Yeah. - I don't even use cash anymore because I'd rather have a credit card. - Yeah. - So what's the difference between a credit card and Fedcoin? - So, the thing that Fedcoin will do is it will give centralized control. That's what people need to see is that there's centralized control.
So every single Fedcoin, just like every Bitcoin has a history attached to it, you started to see now where there's alleged ransomware attack, and they say the brilliant people at the DOJ and NSA have tracked down the recipient of this Bitcoin and pulled it back from their digital wallet. Well, wait a minute, I thought it was totally anonymous, like it was a Swiss bank account in my pocket, but it's not, everything is tracked. So you can trace these Bitcoin transactions back to the original user. - With a digital wallet, they'll be able to trace every move you make, everything you spend. - Yeah.
- Where you are. - That's right. So, and you've probably been stuck on a plane or something and played liar's poker with a dollar, right? So you look at a dollar and there's all these serial numbers, and it's a game where you can. - Yeah. - Guess the serial numbers on the dollar.
Well, every dollar has a serial number, every Fedcoin will be recorded and enshrouded on this blockchain. And people say, well, blockchain, I've heard of that, that's good. You can make money off that. Do you see how the narrative now supports people going along with this Fedcoin? But what happens is we say, Robert, you have been making a lot of statements that we don't agree with, and then even encouraging people not to trust their elected leaders and Robert, a lot of things are bothering us, so we're gonna restrict your Fedcoin wallet and allow you to only spend on basic necessities. This is absolutely possible on a blockchain, and then it eliminates tax evasion.
So there's no way you can evade taxes because every Fedcoin is recorded on this blockchain and every transaction tracks it. As you can see, if you are a control minded person, you would think this is great. - Yeah. So anyway, that's the thing we wanna discuss here is that, I'm so old, I remember when credit cards came out.
- Yeah. - And then now I don't use cash, I'd rather use a credit card because it's easier to yada, yada, yada, but that comes from a bank, then we have the fed, then Bitcoin came out. so we, Kim and I bought into it simply because, well, us believing in starting small and then understanding the system, how it works. And then now we're talking about a possible federal reserve coin.
And I wanna know what's gonna happen to Goldman Sachs, all the other banks out there right now if the fed just takes control of the whole thing. When we come back, we'll be talking more to EB Tucker. He's the author of, Why gold? Why now? And we're talking about past, present and future, we'll be right back.
Welcome back, Robert Kiyosaki, The Rich Dad Radio Show, the good news and bad news about money and this is really a show about money. Going back to what we call God's money, gold and silver, and then where we are today about gold and silver royalties, but also where, and then we all heard about Bitcoin. And now we're just discussing with EB Tucker, author of Why Gold? Why now? He also works for a good friend of mine, Doug Casey.
And Doug and I are the old guys in this business, (chuckles) it's better the younger guys take over. But it's going so fast. And I was just listening to Jim Rickards, another friend of ours, he was talking about when the Fedcoin comes out and I've heard this number of times EB, we don't need banks anymore. So just as truck drivers will be unemployed, bankers will be unemployed. If it goes to total central planning, which is communism and the banks control every, the central planners control everything.
So we're talking about the past, present and possible future of what we call money, any comments Kim? - Yeah, I have a question and we'll talk about the banks, I do have a question EB on the Fedcoin. So, you're saying it's already happening, it's already in the works, they've been planning this for a long time. What's the impact on gold and silver if this Fedcoin comes out? Is it more valuable, less valuable? - Well, I think that the Chinese know the answer to that as we were talking, I mean, so once you figure this out, it's too late.
That's what people. - Yeah. - Need to see about gold and silver, yeah. - EB, if the Chinese had figured it out, we're finished. (laughing) Because it goes so fast. - Yeah, I mean, there's a great book about that called "The Grand Chessboard", which lays out the policy in the 90s for post-Soviet kind of world tension. I mean, there's always an enemy, right? So the Chinese will be our chosen, probably our chosen enemy of the next decade, and we know how that'll go, okay.
But the Chinese know something. I mean, it's an old society, they realize the value of gold. Now once you have a Fedcoin wallet, and as Robert said, once you're in that type of centralized control, and then you'll say, wait a second. I mean, I need something that's outside of that. Well, how do I get it? Well now Gold's illegal, it's too late. But see, everybody now can say, well, this sounds crazy.
I mean, why would they do that? I mean, the government's here to help me. I mean, (laughing) I know those friendly people at the airport are trying to protect me. They're not trying to give me a hard time. So basically and this is for thinking people, you just say, look, don't take it from me, go back and look at the Soviet Union. I mean, there was an underground economy that thrived.
It's absolutely thrived. And if you didn't step out of bounds, you could kind of dance in and out of that and then when, things always change, I mean centralized control never works. And the reason why it doesn't work is because what happens is, is that anybody that disagrees is an enemy and you crush all the enemies. And once all the enemies are gone, then the state turns on itself.
So it never works. - As a US Marine, there isn't, they wanna take our guns away. - Yeah. - Because they can have control if we're unarmed. - That's right. - But if we're armed. - Yeah.
- It'll be tough to come and take our gold, our silver and our lives away. So that's why (indistinct). - Robert, a 100 years ago, the congressmen in your town, okay, he would have never gone along with some of these current efforts in Washington, because when he comes home, he would try to face the people. - Yeah. - But nowadays,
he's got bodyguards. So anybody that challenges him, you say, well, these people are subversives, they need to be shut down. And their Fedcoin wallet needs to be turned off, so they can't buy any pipes or Molotov cocktails or anything, right? I mean, you can see how this goes. - But they can control everything, so EB, let me give you the scenario that Rickards and I see coming, you can shoot holes in it. Okay. Right now, the way the system works is the fed and the treasury produce money, it goes into the big banks like Goldman and Wells Fargo.
And then you and I walk up to the window, we deposit our money, we'd get our credit cards and I'd take loans out there. Rickards and I suspect when it goes to the Fedcoin, those big banks are gone because the big banks are what they call the transmission system, like the transmission of a car, but they take the transmission out because it's a Tesla now. Now what's the possibility of that in the not too distant future? - It's a great question, because I think what people don't realize is they look and they try to make these predictions to say, what's gonna happen to ABC company? But wait a minute, what's gonna happen to you? (chuckles) You know what I mean? The guys at Goldman are gonna be fine because the business changes and it's no longer a business. See, as you have centralized control, business changes. So this becomes a command economy. So it matters how close you are to the power.
So look at the treasury secretaries and all these people, you see their resume, former Goldman Sachs. Oh, well, I think they're gonna be fine. The business changes. Now what about the average person? What about the guy that's working, the woman that's working, that's saving, that's trying to invest, and they're using all the things they learned about the 80s to make decisions today. That's the person that we're trying to talk to, right? I mean, that's the one that needs help.
- I'm just asking as, what's the possibility of the banks disappearing, disintermediated? - I think the banks will look a lot different. You still need an interface between the consumer and a purchase. There's still gonna be a payment processing function that goes on or a credit extension.
'Cause people love spending more than they earn, right. - That's more of a utility. More of a utility. - That's right. - Utilitarian. - Let's talk about.
- The banks that win are the ones that are able to have scale. So it's no longer about put the dollars in. - Small bank loan. - Loan them out, that's right, that's right.
So you have less banks Robert. So imagine you have a dozen banks, right now there's about 7,000 banks in the country. It's way too many.
So as this transition continues, you have far less banks. - So this is the reason I'm higher than a kite on Bitcoin, gold, silver and the dollar and bullets. I want something they can't track.
In other words like, like today, one reason why gold is kind of interesting in my opinion, it's what I say today, gold is for hoarding, silver is for spending. So well, Kim and I have a stash of silver and gold in Brinks and stuff like this, if we ever needed to spend something, we'd go to Brinks, we'd get out our boxes of silver and we would spend it. The fed cannot track that. So I could walk into my hairdresser and say, I need some hair done or whatever it is.
So I think the value in the future, if, and this is if the wipeout, the banks that goes central control is the value may go (chuckles) to gold, Bitcoin, silver and bullets, as long as they can't track it. What do you think about that? - Correct. And in the book, I address a key question, how much is enough to own? I mean, the answer is a lot less than you think is enough, right? I mean, most people have zero gold, zero bullets, zero silver, they have nothing. I mean, they have just the paper assets they've accumulated, mostly liabilities.
So how much gold is enough? I mean, the gold is off the grid analog wealth. Everybody wants digital wealth, it's analog wealth. And so you don't need it until it's too late.
I mean, that's the problem, this is. - Okay, hold on, is that possible that because it's now not traceable. Like Chris Rock was a guy that said, he says, if you wanna stop murderers, make bullets expensive.
I mean, that's. (laughing) - Yeah, that's right. - You hear what I'm saying, I want people to think, not listen to what you have to say necessarily. - Yeah. - If that is possible, if everything is going centralized with a Fedcoin, which is communism, that's central planning.
Will that make things that are not trackable more valuable? Is that possible? - Absolutely, absolutely. - Okay, so I'm just giving people, not to get confused and we take some action. So for years and years and years, Kim and I've been putting all this stuff aside because as Chris Rock said, if we must stop murders, make bullets $50,000 a bullet. And I said, well, I'll shoot you since I saved my money.
That was the thing. - Right. - Yeah. - I think Chris Rock was a futurist. (chuckles) So I'm looking at everything today is, can it be tracked? Is it traceable? Can there be something that the federal government can now take control of and track you through the usage of it? I think that's the question of today.
What do you think Kim? - Well, I'm trusting, hoping that that is the case, who knows what they're gonna do, but I can see, we were talking earlier about, I can see how they're gonna sell this Fedcoin. I can see how they're gonna sell it to the public. They're gonna say, it's gonna stop counterfeiting. it's gonna stop money laundering, it's gonna stop crime and we have to do this and everybody's gonna go, yeah, yeah, we have to do this.
They're gonna just put a smoke screen. So again, people need to understand that what's not traceable and start getting that, but also don't be blinded by the damn narrative that they're gonna put out there. - So EB, let me give you, I'm gonna pick your brain on another subject. This thing about vaccine.
They want everybody vaccined. They want that tracked. Is that a similar type of thing as Fedcoin? - Well, who knows how they'll use that to say, it's for safety, right? They're saying it's for safety of other people, because you might. - Hmm. - Not be vaccinated and you'll get someone else sick, but you'll never know that you got them sick because they'll never know who got them sick, but it's you that got them sick. So therefore we need to track you, yeah.
- Yeah. My concern, the reason I'm a hard money guy is I don't want the fed to track me. I don't want the (indistinct), I don't want the treasurer to track me.
I want nobody to track me. And I suspect and when I saw COVID come out and they're now saying, you got to have an ID card and all that, that's another tracking system. - Hmm-mm. - Yeah.
- I mean, it is. - Well, they're just trying to help you Robert. Remember, they're just here to help. - No, no, but. - Well, it's like you said, EB you said, China was gonna be the next enemy, I think we are now the enemy. - Yeah. - The people are now the enemy of the government. - Yeah, yeah. - That's a scary scenario.
- Well, your subversives, you know they're subversives and we'll shut them down and we'll say, look at these, why do these people wanna not be tracked? What are they hiding? This is the way. - Yeah. - The narrative will go. - Yeah. - Right. So that's really, I wanna give people another reason to listen to what you have to say to, you have a fantastic book, but they have to get educated, to be more self-interested versus I think what Hitler said is is thank God for people that don't think, they just do as they're told. And what your buck does, I guess people think like, and it got me thinking about royalties, we should've done royalties, but in hindsight, we got the deal with the Chinese.
And when I dealt with the Chinese, I know what dealing with them was like. And it's not the same, like I said, when I was in Cameroon, I saw the Chinese, they have these camps you guys, huge, huge camps, or I think the weakers go into too and they have concentration camps where their workers, they go and get things done. I flew over a compound in Zimbabwe that was so big, it was incredible. And so China, isn't just China, they're all over the world and what are we doing in America? And so that's why I encourage people to get gold, silver, Bitcoin, bullets, whatever you can do while we're still free. So I really encourage people to read your book, Why gold? Why now? Because it goes beyond gold and why now? Because our freedoms.
- Yeah. - Are being taken. I think that's my primary concern. Final words EB.
- Well, if people can see it before it's too late, I mean, the subtitle of the book is "The War Against Your Wealth and How To Win It." And that's what people need to see is that the stakes are serious here. It's everything you've worked for, it's all the things you believed up to this point. And if you can see this roadmap before all the dominoes fall, I think you can do something about it and you don't have to be a billionaire to do it, as you know, Robert, the book is written for the person next door, because you can see this now, you can do it. - Yeah. - And it's easier
than you think. - So EB, the thing I loved about your book is that it goes beyond money. It's our freedom. - It is our freedom.
That's what the war is. - That's right. - The war we're fighting. - Yeah. - For our freedom, for our liberties, and that's why people (chuckles) really need to, they need to wake up. - Yeah. - They need to wake up.
- The money is the easy part Kim. I mean, that's what. - Yeah. - People don't understand. I mean, you can. - Yeah. - You can work the money thing out, the freedom thing is not easy.
- No. And how do you plan for your freedom? So EB. - That's right. - Thank you, thank you, thank you for riding above.
Thanks for being so articulate and making it simple for people to understand and everybody please listen, we can always learn more. This money is more than the dollar in your pocket. So when we come back, we'll be talking more about what you can do, what the future is. But we want you thinking about the future, not so much the past. We'll be right back.
Thank you EB. - Thank you EB. - Thank you. - Hello, hello, hello, Robert Kiyosaki, The Rich Dad Radio Show, the good news and bad news about money plus the future of money. I wanna thank EB Tucker for waking us up, what's gonna happen. And once again remind people, we don't make recommendations.
I'm glad he talked about his company, Metalla. And, but just remember, Kim and I have been in the gold mining business for years now and silver and we know quite a bit about it, so we don't make any recommendations because you know what they say, what's the definition of a liar? The definition of a liar is a gold miner standing next to a hole in the ground. (chuckles) There's probably nothing there. So anyway, that's why please be careful.
Any comments Kim? - No, we've had a let out, nothing there, hole in the ground. - Yeah. (laughing) - I really think this show really, we summed it up at the end was about your freedom and your liberties. And as EB said, the money piece is easy, the money piece on what to do with gold and silver and Bitcoin and bullets, that's the easy part, the hard part is when they start taking away more and more of our freedoms and our liberties and that's what we're really fighting about. So Sara, you were talking about what's happening now with people who are Bitcoin billionaires, what's happening? - [Sara] Yeah, we aired the show back in March with Tom Wheelwright on taxes and crypto because the government's starting to have their hand out, okay, give me my piece.
And we'd always talked about it being decentralized and outside of the government, but I feel like the government's definitely gonna take their piece if they want it, they're gonna figure out how to. So we see so many people now posting questions on that show, which was posted three months ago. Like, I have all this money and now I owe taxes on it because I traded it or, all of the taxable events. But I just think it's the realization, people thought it's money, I can do with it what I want, but now the government stepping in and say, well, we want our piece.
- And if they're stepping in, then they know that you have it and that's another way of tracking your money. - [Sara] Exactly. So I think you said it earlier in the show, like, just be aware that this is happening and have a different plan. - I mean, it's so interesting, money is money, I was taught, the person who does our bodywork Caitlyn, she's been into crypto, crypto, crypto, after my talk, she gave me a massage, she's crypto, crypto, crypto. So she went to the crypto conference and, (chuckles) or the Bitcoin conference in Miami.
I said, what happened? She said, somebody stole my wallet. I said, they stole your purse. No, they stole our coin bag or whatever they guys call it.
I mean, how does somebody steal something off your computer, she says, I don't know. - [Sara] No, there's a hard wallet. So it's a separate hard wallet that you download your crypto key to. And I think Robert Breedlove mentioned it, like she has to have her key, but if she wasn't secure about her thing, the little device, it looks like a flash drive or whatever, has all her Bitcoin stored on it.
So if you lose that, oh, like a Trezor. - It's gone. - Yes, exactly, yeah. - It's like a Trezor. She lost her, yeah.
So it's like the guy, I think in LA, he had thrown in his in the trash or something. He lost his keywords and he lost his code to get. - Yeah. - To get access to it. it was a lot of Bitcoin.
- It was millions, millions, yeah. - So that's another part of it is the security (laughing) and the storage. - Right. - Security storage is as important as ownership. - Yeah. - Yeah. - This was funny about it. So she's working on my body, she says, so what'd you do Caitlin? She says, I called the Phoenix Police.
And I said, what they say, they went, what are you talking about? (laughing) - [Kim] Yeah, how are they gonna track it? - I sit here listening to him, but I really want to get to the point of this show, the prophet is Chris Rock. Remember if you wanna stop violence, just raise the price of bullets. I mean, when he said that I went, okay, I tell you, but I have to borrow some money before I can shoot you. (laughing) I think what we're coming down to the summation of the show, what becomes more valuable is what they can't track.
Any comments Kim? - No, I think that's absolutely right. And it's a little scary when EB was talking about China being the enemy, and it's clear that the people are now the enemy and they're going to do everything possible to control people. - Right. - So the more
that I can fight against that and fight for our freedoms and our liberties, that's what we're about. - But it is being not tracked. It's so interesting. - It's hard to not be tracked. - You can't be tracked. - Oh my god, now they can track Bitcoin. Jeez, yeah. - It's amazing. - Any comments? - [Sara] Yeah, just final comments is, you ended it with get educated because.
- Listen to people. - Listen, yeah. - Keep an open mind. - [Sara] Because then you won't be blindsided, like Kim said, when they do start asking (laughing) for more information or taking your own Bitcoin - Or whatever. - Yeah. I know, the other night I couldn't find my credit card, I was lost, I'm like, how do I survive (chuckles) without my credit card? - Yeah. - And the other piece is, is people say, this drives me absolutely nuts when they say, oh, well I have nothing to hide, so I don't care if they track me.
Yeah, you don't care if they track every move you make, you don't care if they track your bank accounts and all of your private, you don't care that they're tracking you? Oh, I have nothing to hide. - [Sara] That was the whole argument against the Patriot Act when they. - The Patriot Act, what a stupid name. - Yeah. (laughing) But that was, they were like, oh, well, I don't care if the government tracks me because I have nothing to hide. - Yeah.
Yes. - So yes, you're exactly right, it's a big problem. - One more point is that we're talking about, people can't see it, and the fortunate thing for me, I've been all over the world, looking for gold. I remember in Cameroon, I saw these huge trenchers going across Cameroon, I said, who are those guys? They're Chinese.
And then I was in Zimbabwe, this huge camps, I said, who are those guys? They're Chinese. And then when they say, well, what do you have against the Chinese? I mean, China is now the biggest gold producer in the world because Kim, myself and our buddy Frank found the biggest gold mine in the world and the Chinese took it. So that woman bitching about her Bitcoin purse or whatever it is, quit your bitching. They took our goldmine from us. - A big gold mine, (laughing) a huge gold mine.
- But so this is, when you step back, keep looking at it, open your eyes so you can get further back from it. China is now the largest gold producer in the world. America is the biggest debtor in the world. Interesting times. Just thank you for listening to The Rich Dad Radio Show.