“We’re Going To Go Bankrupt” PREPARE! (Robert Kiyosaki)

Speaker 1: Office buildings, shopping malls and hotels are now broke. They can’t pay their mortgages on the biggest shopping centers and office buildings, hotels, cruise ships, airlines that sell collateralized loan obligations. What a silo it is. There’s a subprime loan, you know, back in 2008 there lending people without any job, without a job. They’re not in to get as much as they wanted to buy a house while a CEO does the same thing. But it’s a loan to a CEO with business problem. So these clothes are huge. They’re bigger than lending subprime people job, not the printing so much money to keep the stock market high. So mom and pop, stupid person who has a formal untag or a pension, then? Oh, I don’t have to worry. I got a pension. The stock market is up.

Speaker 2: And then meanwhile, gold

Speaker 1: is going up. Reason gold is going up is a common theme because they’re printing trillions of dollars. You cannot have both going at the same time. I hope I’m wrong, but the US is dead and one just got about five more years. Don’t get me wrong, it’s still a strong currency, but gold will get stronger, so we’ll solve our son will get some bitcoin because of this is the schoolteacher’s. Our governments, the Treasury and Wall Street and the banking system, the Federal Reserve Bank are ripping us off. And that’s why Rich Daniels company was formed about twenty five years ago. So that’s why the stock market is high. But so it’s going on. It’s a complete manipulation of the stock market. When I talk about commercial CMBS commercial mortgage backed securities, that’s now that’s 20 percent dot com bust. But it was no difference to what happened in 2008 when mom and pop with no money bought a house they couldn’t afford. So the differences from two thousand eight to today, twenty twenty,

Speaker 2: the problem only got

Speaker 1: trillions times bigger. So Siembra CMBS. And that’s one thing. What they are is in this and the shadow banking system.

Speaker 2: And I’ll be talking more and more

Speaker 1: in the future about the shadow banking system as the banking system. You cannot see example. I have a new book coming out about the shadow banking system. But anyway, so you have a CMBS. That means that shopping center down the street from the hotel next to the office building. You know, if you live in a big city, those buildings are broke down or so broke. There’s another word called forbearance. Forbearance means well. Well, you know. Well, we’ll let you pay up. You can catch up on your payments later on. I’ll forbearance. I will give you 30 days a second day. And then from forbearance comes foreclosure. So I don’t know if you know this, but it also affects residential markets. So Mom and Pop that they don’t have a CMBS commercial. Mortgage backed securities are too small, but 30 percent of all mom and pops are in forbearance. That means they can afford the house when they lost their jobs due to call that whatever happened, they can’t afford their house. So what’s happening in America today is kind of a repeat of 2004 or five, six, seven, eight people are starting to flip houses because the price of housing is in serious trouble because mom and pop can’t make the payments forbearance. Some forbearance means they’re asking for more time to pay

Speaker 2: the mortgage,

Speaker 1: but if they don’t pay the mortgage, they go into foreclosure. So that’s why so many people are you know, the scavengers are out there buying houses for discounts now. So a a subprime loan and a CMBS commercial mortgage backed security is the same thing. Some of the numbers not much bigger. And that’s why the stock market goes up, is because the Fed keeps printing as much money to keep mom and pop and the of the more big mortgages paying the bills, the airlines paying the bills prepared to pump in as much money as they possibly can. And so guys like me who understand the whole market, the shadow banking system, I’m buying gold. I don’t trust the dollar.

Speaker 2: So anyway, one of my tweets was New York said, I am broke. And the reason this going broke is much of the property in New York City is commercial real estate. I own residential real estate, so we’re doing pretty good. We’re collecting about eighty five percent of our rents. But commercial real estate with everybody zooming away and at home and all this, the question is who is going to go back to work? Who wants to pay that high price for that commercial real estate? But worst of all, what value is commercial real estate like an office building if you don’t have workers in it? So that’s why. All cities count on real estate taxes. So what you’re going to see in the next few years is real estate taxes on your home. My apartments will go up Flatland, New York taxes, those commercial high rise buildings more tenants will leave for. New York City is going broke. Know the beautiful city of Vancouver, Canada, is flat broke. It’s just tragic what’s happening because you have this incompetent city managers who are just like my poor dead guys with college degrees, but no common sense around me so that all the city is now on taxes. But it was small businesses closing and big commercial real estate starts closing. Our cities are going broke. You add to that pensions,

Speaker 1: you know,

Speaker 2: pensions. Mark my words. I wrote my book called Who Stole My Pension? Pensions are going to be the biggest disaster hitting America and the world today because every day 10000 baby boomers in America retire across the world. There’s two billion old guys like me who have no money. And who’s going to bail them out at no Republican or Democrat is going to say we’re not going to pay the old guys money.

So that means they all guys, they’re going to say, you’ve got to bail us out. And so that’s why they’ve got more money and pay the old guys just so that get reelected. And also it’s real estate taxes as small businesses going broke. It’s income taxes going down and pensions going down. So the Fed has to print more money. So that’s why I keep saying buy a gold, silver and bitcoin because gold is getting more scarce without a rich dad radioshow with Marinka to sell. And he talks about this. It’s pretty complicated. But this is the thing about gold, OK? I say gold is gods money. Silver is gods money. Bitcoin is people’s money. But the trouble with God’s money is a double distributed and so gold, because I’ve looked at I’ve looked for gold all over the world. The gold that I’ve been to the top of the mountains, I’ve been to Mongolia across the world, South America and every place God distributed gold and silver. Those countries hate us. That’s what it means when it says the, you know, the double distributed. So it’s going to get harder and harder and harder for there to be gold and silver. That’s why Bitcoin to me is looking better, because Paul Tudor Jones is a multibillionaire. He just bought some Bitcoin because Bitcoin gets harder. Not so often. I’ll say this again. Just remember this. Today, the Fed is just pushing a button and they can print a trillion. In fact, money. I’ll say it again, a trillion. If you spend a dollar a second, it’ll take you thirty five thousand years to spend a trillion dollars but printing it like that. So that’s why I think the Fed is toast. I think we’re going to work on a part. I hope I’m wrong. We’re going to go bankrupt. They’ll probably be on new conference like the Louver Accord or the or they say the Smithsonian Accord, and they’re going to rewrite the rules of the game again.

They’re going to say, OK, the US dollar, you’re toast and an IMF scrunch up in Japan. China’s going to jump in. But meanwhile, you and I, if you’re holding dollars, you might be in serious, serious trouble. But just remember this. Gold and silver are gods money, but the devil to show to that to countries that hate us. And Bitcoin is people’s money and you can’t make any more bitcoin. So screw it up as the economy is getting because we’re run by incompetent Federal Reserve and is like my poor dad. It’s really a good time. If you can look in other directions and buy some gold, silver and bitcoin people spend.

Leave a comment

Your email address will not be published. Required fields are marked *