This time, it’s different. This is the new economy. We are just coming out of the longest bull run in history. 11 years started in 2011 and at 2011 I made the biggest fortunes of my life because that was the, uh, MBS work backed securities and the CDO crashes, the real estate crashed and I backed up the truck and I borrowed $300 million to buy the best real estate all across the southwest. This is the largest longest bull market in history. And a lot of, I, I look at some of these young kids, you know what? And I, I own, I own some Bitcoin. I own some Ethereum, but they’re all saying the same thing this time.
It’s different, you know, and Bitcoins crash and, you know, you know, the Federal Reserve Bank, I can’t believe that. I mean, people say, don’t fight the Fed and all this. Well, my question to everybody is this, can the Fed print oil, can the fed print gas? I mean, gasoline, can it print food? But everybody sits there and they’ve been brainwashed by Wall Street to go do what the Fed tells you to do. Well, you gotta be kidding me. Those guys are the three Stooges, Janet Yellen. Biden and Powell. You gotta be kidding me.
Why would you listen to him, Volcker saying he’s gonna crush? So he raised interest rates, right? So, so Powell is now channeling the spirit of Volcker. And you know, when Volcker crushed inflation debt to GDP was 30% and today it’s 125% if you believe the numbers. So if he channels Volcker and the other thing about history will tell you this, there’s never been a soft landing. It’s more fed talk. I’ve made more money in the last three years in my whole life. And so that’s what I wanna talk about with you today is that there’s other ways of looking at investing, you know, but to think that Powell is gonna save you.
But as you may know, the reverse vehicle market is running at two trillion a day to two trillion a day. And people are listening to Powell. You gotta be kidding me. I own no stock spots, mutual funds. ETF si do not touch paper. I’m not saying that you shouldn’t, but I think people have been brainwashed by the fed, the Treasury and um the whatever those guys are, go to school, get a job, pay your taxes, get a high paying job um and invest in the long term in a well diversifiedportfolio, stock spots, mutual funds, ETF S it was in 1974 when I came back from Vietnam, a two tour marine helicopter pilot.
I saw communism at work. It was not pretty. And I come back in 1974 they passed ESA era stands for 401K right now or Ira. And I went, oh my God, they’re funneling my generation, the boomers into the stock market and they don’t know anything about money. And in 1974 the biggest exodus adam was school teachers suddenly becoming financial planners. I watched that with horror. Interesting. I watched it in horror. That’s, that’s the poor, leading the blind. And today we have baby boomers who are hoping the stock market stays up in their 401K just as social security goes bust. You think that’s an accident? That’s all I’m saying. I’m just a marine.
I’m a dumb ass marine lieutenant. Flew the gunship went down three times. But today I listen to this bullshit and I go, oh my God, how can we be that stupid? Because they went to school. We did as we’re told, don’t fight the fed. Do what the fed tells. You invest the long term on the well, diversified portfolio stock, mutual funds, ETFS and don’t worry, Powell is now channeling Volcker when the debt to GDP is at 120%. You gotta be kidding me. So when they were dropping the interest rates, I thought I, I went to heaven because I would I buy, I buy apartment houses. I want 130 apartment houses.
Every time the fed dropped the interest rates. It, jacked the value of my properties up but I also improved the properties and I refinance out. So today I own no money in any of my properties. 13,000 units all throwing cash to sit in a bull market. Even idiots feel smart. I’m listening to all these idiots, you know, after 2011, then the market crashed in 08 because the market went bad. And the was the, the credit, the credit of uh Lehman brothers and bear sts was bad. And they, so they hammered that anyway. It’s a long story. My friends are all inside that world. But then when it came back out, they just started pumping money just like you said about Christine Lagarde, you know, start lying and, and what they did was they, they kept printing more money to save a bad economy. It was already crashing again in 2011.
But they kept printing money and, today we’re gonna pay that price. I I use debt because debt is tax free money. So every what I did was I rehab my apartment 13,000 of them. I just kept buying more with the cash flow and I’d refinance out as interest rates drop. So I’m in good shape now. Then I took them, then I set all interest rates right now. So I use debt and who said the guy that says love debt free? Well, that’s his opinion. I don’t do that. I don’t flip houses. You remember all those guys were flipping, everybody flipped? Oh, they were stupid. Stupid. When the moment you flip you have a tax consequence.
I never flip. I finance out this tax free money. And, and not, not only that is when I started investing, I had to invest at 12% interest rates. I like debt and I like, I don’t pay taxes because every time I, I borrow more money to float my properties, there’s three types of tax bases. I got appreciation, depreciation and amortization. So I zero out. So my cost of money is my tax on, on debt is zero. And I use that tax appreciation depreciation, amortizations all in rich that to offset tax in my income. When Biden took the pipeline off my oil, I was selling from the ground which is a tax break. Also went from $30 a barrel to $130 a barrel. Today. It’s like 120. But I, oh my God, this guy Biden is gonna bankrupt us.
I’m not saying him but that somebody wants to bankrupt because oil is a lifeblood of civilization. I went, I, I worked for Standard oil of California as a tanker officer. When I graduated from school. I understand oil, I was on the Alaska pipeline and all this. I’m like he’s screwing us. So when he raises inflation, the poor and middle class will go broke and that was just done as soon as he, he was being done before he took office. And so I’m looking at this, this guy’s gonna sell America down the drain. I’m not saying it’s him, but somebody wants us to go broke and I’m watching this going, oh my God. So what else can I?
So I have oil wells, I get tax breaks for those because I don’t invest in oil stocks. I work for standard oil, but I don’t invest in standard oil. I invest in the oil in the ground. I’m a wildcatter. Everybody says don’t do it. I don’t recommend it, but I like doing it because my gold mines don’t do it. I like doing it. There’s more opportunity today than ever before, but not if you’ve been brainwashed into going to school, getting a job paying taxes, live debt free and invest in the stock market. This bubble right now. Canada is a bigger bubble than 2008. This is the everything bubble.
You know, it’s, it’s gonna be not only stocks bonds but also credit. I mean, but it’s more opportunity is gonna come out of it. And that’s what I’m saying. Be careful who you listen to because your best asset, but also your biggest liability are the ideas in your head and be careful who puts them there.
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Today’s topic: Robert Kiyosaki: 2008 Crash Made Me Billionaire, Now 2023 Crash Will Make Me Even More Rich | Make money online
