- THREE KIND OF FAKE IN YOUR LIFE
- WHAT IS FAKE MONEY
- WHAT IS FAKE TEACHER
Friends, “what you see does not happen … and what happens does not look well.” We call something similar – ‘fake’, And in a similar way, Mr. Robert Kiyosaki has told about three fakes in his latest book. And they have named their new book – Fake full title is – fake money fake teachers and fake assets How Lies Are Making the Poor and Middle-Class More Poorer, And like I said – Robert Kiyosaki in this book, in three different parts Have talked about three specific Fakes. The first specific fake is, about – the fake money. What is fake money and how does it work The amazing thing is, On one hand, fake money is making the poor and middle class poorer. and on the other side, this fake money is making the rich richer, After this,
the second specific fake is, about – The fake teacher How does education systems and faculty teachers train to become employees only And don’t teach anything about the subject of money in school, Because of which, most people go into bad debt after leaving school, And the amazing thing is that This bad debt is making the middle class and the poor poorer on the one hand And this bad debt is making the rich richer…
the third one is, about -The fake assets, How rich people are getting richer because of fake assets, And how this fake asset is making the poor and middle class richer … Apart from this, they also tell that Fake money and fake assets are the biggest reason Due to which markets were broken in 2008 in this whole world and the world economy crashed in a bad way And after that, there was a big economic slowdown Just like this in the future also this big And very severe recession may be seen Because the world economy has already had many times more fake asset transactions than in 2008 And the more this fake money and fake asset will increase. Future economic crash will be much bigger …. And that’s why Robert wants to warn people through this book, And want to educate a common man about fake money, fake teachers and fake assets, In this book Robert along with Fake Money, Fake Teacher and Fake Asset It also tells what is real money, who is real teacher and what is real asset, How fake money is making the rich richer And if you also understand this fake money game You can become very rich by using this fake money …
And after becoming rich … you can have real money and fake money balance properly coming into the future You can prepare yourself for any kind of economic crash or good or bad situation and economic change…. So that it does not happen that you fall victim to this fake money. And kept working for this ‘fake money’ all his life and in the end, All the wealth created by your hard work becomes a victim of this fake money system …
this book summary has been made for you in three parts, So that you can understand the contents of this book much better And this first part is completely focused – about fake money false money … …
So let’s talk about that — What is fake money and what is real money? So, Robert tells says- today there are three types of modern money in the world, First – ‘GOD MONEY’ means money made by God. For example, gold or silver.
The second type of Money Is – ‘GOVERNMENT MONEY,’ which means money made by the government and the law. Paper Money …. called FIAT Money, Like – US dollar or Indian rupee Or any kind of notes and coins, all is government money, that is fiat money…
Thrid type of money- PUBLIC MONEY, for example – cryptocurrency, bitcoin, and ETHERUNM, Although such digital currency is not legally recognized by many different countries, And therefore it is not very popular.
And as far as the question is, what is real money, and what is fake money, Robert Kiyosaki says- Only God Money means money made by God like gold and silver is considered as real money. Whereas the money made by the government or banking system of a country – i.e. paper money, For example, a dollar note or a rupee note is considered fake money. And this is because Robert tells about the definition of real money – Real money is what follows the three conditions-
The first condition – that which can be accepted by all people as a medium of exchange The second condition is that the value of which can be decided, should be measurable. And the third most important condition is that which has an intrinsic value inside itself, and which can be stored as a value,
And these three conditions only fill gold and silver. And so Gold and Silver are always real money Robert says that – ever since this earth is made, gold and silver have been on this earth And as long as this earth remains… it will remain And that is why this belongs to be really real money. gold and silver mean gold and silver But if you look at the definition of real money, then you will understand that Government money Follows only the first two conditions, but does not follow the third condition at all this is true that – paper money is legally accepted by all of us. And everybody accepts this as a medium of exchange, there is no problem in this And secondly – paper money is very easy for very high measurement or counting or accounting book, it is completely okay and measurable. But the biggest problem of paper money is that It’s just and only paper It has no value of its own.
That’s why a paper note in itself has nothing more valuable than paper. And so Robert does not consider paper money as real money, and they call it fake money Apart from this, the second biggest reason due to which Robert considers paper money as fake money, is that In the United States, before 1971, the Dollars which were printed used to follow the Gold Standard. That is, before 1971, instead of printing out dollars, it was necessary to keep the same value in gold or silver in the Reserve Bank. But the rules were changed in 1971 by the US government and after 1971 there is no need to keep that amount of gold to print out paper money. This means America can print as many dollars as it wants. And today the same situation is with almost every country in the world Any country and its government can print out any amount of currency notes i.e. money through the banking system. But… If a country starts printing notes without following the rules, then it has to suffer a huge loss later. And that’s why any country is printing out Money is the same amount, which is acceptable in its own countries rules. So that the counterfeit note can be captured and the value and inflation of the currency can be controlled And in this case, in any country, many different national and international laws of money printing and the rules and regulations of the banking system have to be followed.
But Robert explains – the whole banking system works on the basis of the Fractional Reserve System. And this fractional reserve system works like magic! And this fractional reserve system is like magic after depositing Rs 10 in a bank, The whole baking system together can make that 10 rupees in a few days to 1 thousand or more. That is, if 10 rupees are deposited in the original bank, the whole banking system can make 1000 or more money from that 10 rupees. And this is called Robert – Fake Money Printing System Which can make a deposit of 10 rupees 1000 or more using the magic type of fractional reserve system. And now you tell me how and how much can be trusted with such a magic money printing system. Robert Kiyosaki makes it clear that – in countries around the world, without having a gold reserve, there are many problems in the money printing system and there are many loopholes.
The rich people take advantage of it, and they print more and more money for their benefit. And its most terrible disadvantage is that the more money is printed out, the more the fake money increases in this economy, And the more the money comes into the economy, the most terrible loss is that Inflation goes on increasing continuously, And for those who save money, the value of the money of their savings decreases continuously due to rising inflation. And because of which the person saving money and not investing it properly is called LOOSER and proves to be great in the end.
Like, suppose Ravi and Shyam were two friends 20 years ago in 1999, Ravi bought 10 grams of physical gold for Rs 4300 and closed it in his vault. Because in 1999, the price of 10 grams of gold was about Rs 4300. Whereas Syam did not buy gold but rather he kept cash and notes of Rs 4300 in 1999 in his vault. And today 20 years later in 2019, both Ravi and Shyam opened their chest Ravi who had 10 grams of gold, and he got his 10 grams of gold, which he put in the market, then it was known that today in 2019, the price of 10 grams of gold is about 36 thousand rupees and more than this, On the other hand, Shyam, who had kept 4300 rupee notes and coins in the vault, opened the vault and got his own 4300 rupee notes and coins.
Now suppose that Shyam has to buy gold from that 4300 rupees … So how much gold will he get today So, at the rate of 36 thousand rupees per dec gram, he will probably get 1 to one and a half gram of gold. Saw … you Shyam who saved paper money… but in the end, he proved to be the great head. While Ravi saved real money i.e. gold .. which made him a winner in this money game. Cytokine has its own price And so the value of gold has increased even after keeping it locked in the vault Friends, the important lesson of this book is that In what way and why fake money means paper money, is making the rich increasingly richer and the middle class and poor poorer and increasingly poorer. And exposing the reasons for this, Mr. Robert talks about a very unique philosophy and says that- Today there is a basic fundamental difference between rich and poor – collateral.
The rich have collateral, and the poor have no collateral, Note that – Collateral is a property that any person can easily take big loans by keeping security with the bank. And by using that loan money, that bigger business, and with some good investment, they can become richer. And with the help of this collateral, paper money i.e. fake money is printed very easily. And rich people take advantage of this money printing system And because the poor have no collateral and that’s why when poor people go to the bank And if you ask for a loan or loan for any business or investment, then the bank does not give them any loan And when the banks do not give any business or loan to invest in the poor, they are never able to do any big business. And the poor and middle class have the same option Work hard … earn money and save … and invest in a bank or mutual fund and some government schemes like PPF and NPS Which can give only that much profit .. The inflation increases… and in the end only the poor lose, Note that – the bank does not give loans to the poor at all…. But it gives a lot of loans to the middle class.
But all those lonely ends up being BAD DEBTS The loans that the middle class gets, such as – car loan, home loan, or credit card… In the end, it is the bank that makes money… The middle class considers investment … and in the end proves to be just savings … and as we saw earlier …. the savers would prove to be LOOSER in the end Just as those who win the lottery become poor again in the absence of financial education, And in this way, a poor and middle-class man lives only in dealing with such bad debts.
Whereas rich people have collateral, i.e assets, in which they can easily take a loan of millions of crores from the bank. And with that money, they can earn more money by doing any business or investment .. they can make real assets … and in the end, they become more wealthy. And to be fair, today’s money game is a game of collateral, the more collateral it has, the richer it is. And somehow if you want this money game as much as you So you too have to make such collateral …. and using loans properly … have to learn to make money from money And learn to convert fake money into real money …. and it all starts and it starts – by EDUCATE yourself financially.
the purpose of all the books of Robert Kiyosaki is that you continue to educate yourself financially because the school does not teach and will not teach all this And financial education is not something that you can learn at once, You have to constantly learn from yourself, make mistakes, learn and move on You have to understand the story behind the screen, Because… the film that goes on screen… it is just drama and drama… the real story is behind the scenes… which you have to brainstorm And you get to learn many such things in this fake money part. And Robert Kiyosaki has told in detail about this latest book and a lot of important money concept and miss concept and real financial education.