Robert Kiyosaki: Conspiracy of the Rich

In the latest update (October 4, 2012) of Robert KIyosaki’s Conspiracy of the Rich, he mentioned:

Early in 2012, the ECB, European Central Bank, announced LTRO, which stands for Long Term Refinance Operations: a.k.a. printing money. This is a violation of the Euro’s founding principles.

Last month, US Fed Chairman Bernanke announced QE3: a.k.a. printing $40 billion a month until… until what, I wonder?

The Bank of Japan followed immediately with their own “quantitative easing,” imitating the US and further weaken the purchasing power of the Yen.

What does this mean? It means the central bankers of the world are choosing to “Live today” and “Die tomorrow.” They are “Out of bullets.” They can no longer lower interest rates so they chose to print, print, and print.

Robert then continued discussing about US debt, you can check out the full article here. What I want to bring to your attention is all the major financial power in the world are printing money. When the whole world is printing money, it is close to impossible for our country Malaysia NOT to follow printing money.

Why? The answer is simple. Malaysia produces goods and exports to other countries. When the other countries are printing money, they are devaluing their currencies. Their currencies is weaker than it was. Now, they will need more amount of their currencies to buy the same amount of goods in Malaysia. In other words, Malaysia become expensive.

When this happens, all the other countries will look for cheaper alternative and no longer want to buy from Malaysia, because we are expensive. Our country financial leaders are not going to allow that to happen because when that happens, our Rakyat will have no job, economy will slow down, crime rate will increase, a whole chain effect will happen.

Therefore, our central bank BNM will manipulate our currency (Ringgit) to lose the same amount of value like all the other countries in the world. So that the export activities can continue like nothing happened. Sorry if this is a rude awaken call for you, but the Ringgit you are holding (or inside your bank account) can purchase less and less stuff everyday. Your “money” is losing value due to these money printing activities.

Lastly, Robert ended the article with the following paragraph:

If you are just starting out investing, I suggest you begin by reading a few books and buying a few silver coins. Knowledge and real money, silver and gold, are better than Obama or Romney. — Robert Kiyosaki, October 4, 2012

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