Conspiracy of the Rich: the 8 new rules of money. Rich Dad

[drjme]

You can register to read this book as robert kiyosaki writes it online by going to http://conspiracyoftherich.com.

It's quite interesting that such a mainstream 'wealth' author like robert kiyosaki is commenting on a lot of what is talked about here on this site. I have found a lot of off topic discussion in the forums deals with issues like 911 truth, monetary conspiracy etc, but this new book comes all out and discusses these issues that people in general leave to the tinfoil hat wearers. hopefully his books will still be as popular as his others and help enlighten more sleeping people to what is going on and what to anticipate.

The Right Book. The Right Time. The Right Price.

Robert Kiyosaki, author of the #1 bestselling personal finance book of all time, Rich Dad Poor Dad is taking a new approach with his next book. He’s releasing the book, Conspiracy of the Rich: The 8 New Rules of Money, online — for free. And he’s inviting readers to participate in the writing process.

Conspiracy of the Rich: The 8 New Rules of Money, will be an interactive project in which Kiyosaki will not only offer his written ‘draft’ chapters online, but invite feedback, commentary and questions from readers across the globe via website forums and blogs. Reader feedback will then be incorporated into the book as it is written and released, chapter by chapter, on the Internet. This bold and unique approach will enable the millions of people around the world who have put the Rich Dad principles to work in their lives — as well as those who are challenged by today’s harrowing economic times — to engage directly with Kiyosaki and literally help him shape his new book as it is being written.

“We are living in tumultuous, unsettling and frightening economic times,” said Rick Wolff, Vice President and Executive Editor for Hachette Book Group, publisher of Rich Dad Poor Dad and the 26 books in the Rich Dad series, “and Robert believes that people today, perhaps more than ever before, are hungry for information and financial education. The fact that he is committed to writing and distributing a new book to the world for free is amazing to us, and indicative of his genuine concern for the challenging economic times in which we live. Today, more than ever, the world needs a voice they can trust and someone they can rely on to deliver the cold, hard facts about what is really happening in the world.”

“This is the right book, at the right time, at the right price,” says Kiyosaki, in reference to the free and universal access to this book. “This is not the time for traditional answers. The time for this book is now — and the Web will let us do that.”
About the Book

Conspiracy of the Rich: The 8 New Rules of Money will share Kiyosaki's view of global economics and explore why people are now finding themselves challenged by these turbulent times. Kiyosaki will not only provide people with solutions to their financial problems, but explain what created today’s economic chaos — and how it can be eased. Conspiracy of the Rich: The 8 New Rules of Money will reveal that what appears to be the worst of times is actually an opportunity in the making, and a chance for people to invest in their financial education.

Read an excerpt from the book:

Back to the Future

Faced with such an overwhelmingly bad economy, President Bush pushed through a landmark bailout plan aimed at saving the economy, saying, “This legislation will safeguard and stabilize America’s financial system and put in place permanent reforms so these problems will never happen again.”

Many people breathed a sigh of relief, thinking, “Finally, the government is going to save us!” The problem is those are not the words of President George W. Bush. Those are the words of his father, George H.W. Bush. In 1989, the first President Bush asked for $66 billion to save the Savings and Loan (S&L) Industry. The $66 billion did not solve the problem. The S&L industry disappeared from sight. On top of that, the estimated $66 billion rescue package eventually cost taxpayers over $150 billion – over twice the amount originally estimated. Where did all that money go?
Like Father Like Son

Twenty years later in September 2008, President W. Bush asked for $700 billion making a similar promise, “We’ll make sure, as time goes on, this doesn’t happen again. In the mean time, we got to solve the problem. And that’s why people sent me to Washington, D.C.”

Just as with the first President Bush, the estimated bailout cost was severely undervalued. By November 2008, the total bailout pledge through various Treasury programs was up to $7 trillion and today is expected to go higher. Where is all this money coming from, where is it going…and to whom?

Possibly the direction he is now heading in, could have been the reason behind his expensive break up with longtime business partners the lechters. I have read quite a few of his books and take what good I can out of them this should be an interesting read when complete.

[feathers]

Cool!

I've read Kiyosaki's books several times as I find his (or rather Rich Dad's) financial philosophy very interesting, allthough I have a few principal reservations about the concept of money breeding money, as the I-square of the cashflow quadrant upholds as somewhat of an ideal.

I'm no anti-capitalist mind you. I do believe in individual capitalism, but imo corporate- or state capitalism is the root of much of the evil we face today. (Hey, being a songwriter, I can't be opposed to royalties as a source of income, and that's a form of passive income, right?)

I've heard people accuse the church of being a collectivistic capitalist organization, for gaining passive income from investments and banking. I believe there is a big difference between investing or lending out money for a reasonable gain, and doing it as part of a Ponzy scheme like the international bankers and corporate capitalists do. It all boils down to morals I guess.

But I'm diversing, I was recently pondering how Rich Dad's philosophy translates to the world's current financial situation. Kiyosaki's new book will definately be an interesting read. Thank you for pointing us toward it.


feathers

[feathers]

I hear you Gman007.

Diving head first into any market based on a financial concept, without a good understanding of the actual market, is very unwise. I hope people took Kiyosaki's books as a pointer toward investment opportunities worth looking into, and not as some sort of education in the field.

When I look forward to his upcoming book, it's because I'm curious as to what his advice will be now that the real estate market is collapsing fast. There's no doubt this used to be a lucrative market if you knew what you were doing, but real estate now seem an ill investment in almost any circumstance.

Obviously, when the market hits rock bottom, there will be plenty of good buying opportunities if you got the money to invest - that is; if nothing changes politically. My concern would rather be on the political side. Will private property holding be restricted to such a degree that you risk having your real estate expropriated by the government in the near future? I mean this would be in accordance with the first plank of the communist manifesto, which seem to be the direction the US is heading at an alarming speed. It also seems the extermination programs to reduce human population is being stepped up to a faster pace, even as we speak. In the near future there may be plenty of real estate to go around, but few left to buy or rent it. I know this is all gloom and doom, but you know what I'm talking about.

The best investment advice right now would propbably be; storable foods, water and purification systems, guns & ammo, silver and gold coins, a secret hideout and anything else you'd need to survive in a world where you're not allowed to buy or sell without a microchip implant. We're not taking the microchip right?

Enough of that allready. I never knew "Rich Dad" was a product of imagination. Are you sure? The way Kiyosaki talks about his friends dad owning the land on which some of the biggest hotels in Hawaii were built, is a bad joke if it's not true. If it isn't, I agree there's no reason to respect the man.

Are you by any chance an investor Gman007?


feathers

[feathers]

Hey Gman007.

Thank you very much for that information. I stand corrected. It's interesting to learn about Kiyosaki's connection with Amway. I know he talks about Amway as a way to get some franchise experience, but I didn't think he had anything to do with the corporation.

No offence to anyone involved in it, but I have to say I have nothing but bad feelings about Amway. I've been approached several times by members of the church who wanted to recruit me. The way they claim they want to help you with your financial problems just sickens me! Among those who tried to recruit me were my own Bishop, and the High Council advisor to my ward. On separate occations they each asked me for an interview, claiming it was very important. I though they wanted to call me to some posision in the church, but no - they wanted to show me some loving charity in the form of a posision in the Amway Ponzy Scheme. I felt so betrayed when I learned of their real errand. Such phony empathy could really shake someones testimony I would think. Oh, and the Amway-Blackwater connection doesn't exactly make things any better.

Like you Gman, I'm no investor myself, but my father is a contractor and a real estate investor, so I kind of grew up around people in that business.

I'd still say, get some gold and silver coins (not as an investment per se, but rather as security capital). Get food and water etc. The hide-out shelter is for the more rural among us I guess - not really feasible for most urban people. If you can get a piece of farm land, great! Better stock up on some seeds as well.

Thanks again Gman, very informative post indeed.


feathers

[drjme]

Sharon Lechter, who co-authored Rich Dad and other similarly branded books with Robert Kiyosaki, alleges in a lawsuit that her ex-business partner and his wife are enriching themselves, diverting assets and wasting money in a business that she claims to have helped build from scratch.

As far as I understand, The rich dad brand would be nothing without kiyosaki, HE is the brand. That he teamed up with other professionals to increase his business is nothing new, nor is the break up of business partnerships. While I don't know what the reasons for it are, the rich dad brand with Kiyosaki,I'm sure will carry on, while the lechters are pursuing a new path: a series of wealth advice books

Nope. I currently do not have the capital to be an investor. That said, I work for investors. Most of it is luck! Some people work themselves into the grave trying to get rich while others trip going out the front door and make a million. Seems to be no relationship between righteous or wicked either.

Gotta disagree with that one. most wealthy people I know have achieved it by design, no luck involved.
The ones who have achieved by luck have lost it all, because they don't understand the principles or what it takes to maintain it.

I also am not super keen on silver and gold. The value is relative to perception and circumstances - although that can be said about any asset. Mainly I am not interested because they are a storehouse of value - not a producer of value. For example if you buy 8 ounces of gold...it will always be 8 ounces of gold at whatever perceived value (hence the gamble on whether it will increase or decrease). If on the other hand you buy a small piece of land and a greenhouse....you produce an increase or crop every year....while you still have the land and the greenhouse....at whatever perceived value.

My two cents for whatever its worth.

I agree here that every home must be turned into some form of income generating vehicle, whether it be a small home business, crafts, rental investment, small hobby farm etc. to take maximum advantage your individual means to generate an extra income, while also saving $$$, by being able to claim tax benefits (phone,internet,power, rent or mortgage,vehicle running costs and servicing, cleaning and household items etc).I believe this is VERY important, start by generating a small income in your community and keep business and trade local. I also believe that one of the best investments is in yourself,your health and skills. especially to learn multiple skills where possible that your income is not dependant on one skill set only, as that leaves you vulnerable should the market not find your skills of value in the near future.

As for the Amway stuff, I do know that kiyosaki promotes Network marketing as a means to learn important business skills like sales and being able to deal with rejection (normal part of business), with a minimal cost and risk. It is unfortunate that you have had such bad experiences with this industry. I have met some amazing people that are now close friends through my experiences with it. I don't see anything bad personally with the industry, I see some bad things with the practices within the industry. The rate of failure within the industry is comparable to business start ups across all industries, 95% of all businesses fail with in 1 year, and of that 5%, 90% don't make it past year 5. I have seen similar statistics in the network marketing industry, so it's nothing to get worked up over. And no I'm not with Amway.

'Rich dad' has not been identified or disproven, it's not an issue for me either way. And that he may have 'old financial cliques' is not really important as most people are financially illiterate anyway, you take what you can get out of the info, and since they don't teach financial management in school, even though it is one of the most vital skills we need to have in this day and age, people need to become proficient in it, by whatever means thay can find, books, CD's, whatever. I personally think he offers a valuable service in this respect.

[drjme]

Gotta disagree with that one. most wealthy people I know have achieved it by design, no luck involved.
The ones who have achieved by luck have lost it all, because they don't understand the principles or what it takes to maintain it.

Agree to disagree then. My experience in executive management and consulting has been different. For example, an individual who owns 110 acre spread in Park City got his start when 4 students came to his office (he was a professor at the U of U) looking for investment in their little company. When that company was sold his initial $50k investment returned $300+ million. One could say the man was brilliant and intended to become wealthy by design but the odds of the initial contact, growth and matriculation of the company, timing of the sale, etc are pretty difficult to repeat if not nearly impossible (or else their would be a lot more successful businesses). The man happened to like real estate and has managed to keep his money despite the other partners loosing most if not all of theirs. But the guy is no genius and has been fired multiple times from multiple companies.

Agreed (to disagree) People I know (my experience is with small business owners/investors and entreprenuers) who have made a decent life for themselves have studied market trends, worked hard on themselves and their businesses, set goals and achieved them, they decided on their outcome and constantly improved themselves and their situation to achieve. Thats not luck thats by design. I'm well aware of stats of business failure I noted them on my previous post. I'm not talking about multibiliion dollar companies, I'm talkiing about self sustaining decent passive incomes that people have created through careful planning. be it real estate, business or investing.

The biggest losers are the ones who have just had their first big success and think they have all the answers.

My above quote agrees with this point specifically, call it 'first' money, people usually lose it (me included ) and guess what, had I taken the advice in his and many other books, I would not have lost it. hindsight sucks eh?

Spend some time with some experienced VC firm managers on the statistics of success and I think your opinion will change. But each to his own....I may be off my rocker!

again I've seen it in real life! many friends and aquantinces wiped out financially at once!

Exactly what service does he offer you or how does he enlighten your financial knowledge....outside of advising to buy assets that produce money(rental unit) vs consumable stuff (big screen tv, stereo, etc) or wait to buy a Porsche until you have income to support it?

Maybe you should read a few more of the books instead of reading one and saying 'this is how it is'. I'm not going to bother answering this. People I know who haven't read them say the exact same thing.

That said, I do think Kiyosaki offers a service by getting people to change their thought patterns from that of being a consumer or employee to that of an investor....but he never actually tells you how to do it!

Are you sure?? No it doesn't say step by step guaranteed how to get rich, but there is plenty of info there to get you moving in the right direction, basic principles and guidelines to adhere to. there is also a book called rich dads guide to investing, quite a thick book too, on how to become an investor. . like you said It's all in the head, that transition, as it is a completely different way to think, being in business, investing or being employed, and thats one of the most important parts of the process. but there is so much more info in the books than you are making out.

I also have issues with Kiyosaki in the sense that he perpetuates the message that education is useless and unimportant, that trying to get a good job and saving carefully over the long term is for losers, and implies that there is a way to get riches easily with little risk and little work if you only knew the “secrets” of the rich. Most importantly, he is a “fraud” in the sense that the vast majority of his wealth was created from selling his book not from great investing or entrepreneurship which only took off after he pitched it to Amway/Quixtar people.

I can see your point with the education, in more recent books he Elaborates on it more with regards to having 'street smarts' as well as 'school smarts'. A lot of his writing is based on his opinion based on what he experienced, which is what I've also seen, people who done good at school seem to follow the mold, get a good job, take no risk, get a mortgage and pay it off, and just get by (those I know who done great at school have done very well for themselves in their careers, but they are VERY few) Those I know who didn't do the best at school,but still have a good head on their shoulders and are into all the self improvement 'mumbo jumbo', are generally the ones who have done well financially, because they aren't willing to fit into the mold of what society tells them they need to do, and they don't care what the naysayers tell them, or the people that make fun of them for trying to improve themselves and not being 'normal'.

At the end of the day its not a big deal but it is kind of ironic that the man has become wealthy by telling people how to get wealthy (or marketing a book or brand as you put it) and not by investing which he states as the path to wealth.

ironic, it is. I don't know how rich he was before he started the 'rich dad' business, doesn't bother me really. A mentor that is rich and tells you what to do, is just as good as a mentor that is poor and tells you what NOT to do. both are I valuable in my eyes.

[drjme]

Thanks for the info on the book gman, I will definately check it out. I am always looking to expand my library.

I can see now why you find the info provided in the rich dad series as simple to you... You know it already and then some with all your experience!! I agree that a business team is the most important thing, People I have seen (myself included) started out trying to do everything themselves = burnout and failure.
The point I make is he is not someone for people of 30-40 years financial experience to learn from, more for beginners - intermediates, which is why it's so simple.
thanks for the info