Robert Kiyosaki & Peter Schiff: 'A Perfect Storm Is Brewing' Prepare Now To Survive Or Be Wiped Out

Our story begins on August 15, 1971. On this fateful day President Nixon closed the gold window, ending the convertibility of the U.S. dollar into gold for foreign creditors. Although Nixon claimed this measure was temporary, it has persisted for over 50 years. Schiff explains that this marked a pivotal shift from the gold standard, significantly impacting the global monetary system. Before 1971, under the Bretton Woods system established after World War II, the U.S. dollar was pegged to gold, and other currencies were pegged to the dollar. This meant that foreign governments could exchange their dollars for gold, maintaining a semblance of a gold standard internationally. However, American citizens had already been restricted from owning monetary gold since 1933, following President Franklin D. Roosevelt's policies. They could only use Federal Reserve notes, which were essentially promises to pay gold.
By the late 1960s and early 1970s, the U.S. was running significant deficits to finance the Vietnam War, the space race, and various social programs without corresponding revenue increases. This led to the Federal Reserve monetizing the deficits, a process now known as quantitative easing (QE), where the Fed creates money to buy government debt. Foreign creditors grew suspicious of the U.S.'s ability to honor its gold obligations, prompting them to redeem their dollars for gold. The mounting pressure from these redemptions led to a depletion of U.S. gold reserves. Unable to meet these demands, the U.S. effectively defaulted on its promise to exchange dollars for gold. Schiff argues that this was a significant default, contradicting claims that the U.S. has never defaulted on its obligations.

Robert Kiyosaki & Peter Schiff: "A Perfect Storm Is Brewing" Prepare Now To Survive Or Be Wiped Out
"Banks Will Seize Your Money" Kiyosaki & Schiff Urges You To Buy This Cheap Asset To Survive 2024

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[RaymondcrawRaymondCrawley]

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

[Riggsnic_co]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[Patriciabanks]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[lidijatana]

I like to keep a small "in case the market crashes" fund to try and take advantage of the low prices. When the market goes south, I use that money spread out over the following months buying my targeted stocks on low days. on top of my usual DCA, They keep dropping and I keep buying. I'm still in on Renewable Energy, EV, Tech, Health.coins too gotta be greedy when others are fearful. At this point I'm grateful for my FA. Already with a 7 figure portfolio but I have no doubt investing more.

[Adambarking]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[bennettross]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.

[rockinchucker]

The next thing kissinger did in Feb. 1972 was convince Nixon to normalize relations with China. It opened the door to start shifting production out of the US.

[SamuelJackson-ex]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024

[blumaxx]

Real estate is a boondoggle, , , and a unsound investment, , taxes increase, insurance increases, repair costs increase, , tenants dont pay, , tenants trash the structure, , , 😢

[Cooperkelly-cb]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elizabeth Meyer.

[SmithNatasha-hcmq]

It seems certain stocks are undervalued, flying under the radar despite their potential. You can't help but wonder when the market will recognize their true worth. How can I invest $600K wisely to ensure our future security?

[BobPage]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Michelle Stewart

[raymondarchuleta]

That’s because our economy is based on debt not real growth, but consumers will not be able to pay their debt off because their money will be worthless.

[AceGibson]

I am not going to panic about this. This is just another gloom and doom prediction. So far, I have survived the 1987 crash, the tech wreck crash, the '08 crash, the Covid crash, several recessions, numerous pull backs/corrections. etc. etc. etc. If you are in quality stocks, once the panic selling is over, this leads to a rebound then the start of another bull run. Seen this too many times

[qpalfredoqp]

Now imagine if the foreign investors decided to sell all their property portfolio, what would happen to the economy?

[christinabernard]

Why can’t they just balance the budget !? Like everyone else most of these politicians have never really worked so they probably don’t know how to budget that’s the problem!

[josephjulian]

Concentrate on the debt not the stock market

[carlywright]

These people are there to help people. Because of situation nation is in.

[hildablanco]

To carry gold people need to carry guns like the state of Montana

[ihogrid]

The government got rich Americans got poor