It's really tough to get rich if you think like a poor person.

And we all know poor people.

They're all over the place.

So I'm gonna just show you something here.

This here is a gold Rolex Daytona.

The younger people have no idea what Daytona means, but this was Paul Newman's watch and all this stuff.

And I own four Daytonas.

Then you go, oh, what a waste of money.

That's what a poor person thinks.

Why do I buy a $50,000 watch, let's say it is, and gold rings and all this?

Well, the reason is because the national debt of America is through the frickin' roof.

We're going bankrupt.

The way America, with our politicians, the way they solve their problems is they print money.

One thing wrong with printing money, the rich get richer and the poor middle class get poorer.

Gresham's Law says when bad money enters a system, good money goes into hiding.

So here's a 50 cent piece, Kennedy half dollar, 1964.

This is from my friend Jim Clark of Republic Monetary Exchange here in Phoenix, Arizona.

I buy a lot of gold, real gold and silver from him.

So when bad money enters a system, which is the bad money, this or this?

See, Gresham's Law says when bad money enters a system, good money goes into hiding.

This is bad money.

This is real money.

So what happens is when I show this to most people, most people will say, which one?

I say, which one do you want?

The $10 or the 50 cent piece?

The average person, young or old, jumps for this.

But this is bad money.

The smart want real money.

And the reason this happens is every time the government prints money, which started in 1971 when Nixon took the dollar off the gold standard, every time you print money, the rich get richer.

Let me say it again.

When you print money, government's print money, which they're printing all over the world today, the rich are getting richer because assets go up in value.

What else goes up in price are food, eggs and stuff like this.

So the rich get richer because they have real money, but the poor and middle class get hammered because inflation's killing them.

So you look at America today, there'll be an election coming up for the president.

And what's happening is inflation is killing people right now.

This is getting, takes more and more of these to buy one of these here.

So you understand Gresham's law.

When bad money enters a system, this is bad money, this goes into hiding.

So Republic Monetary Exchange, you're in Phoenix, this is in hiding.

This 50 cent piece is worth a lot more than this.

So when we're talking about why do I buy assets, why do I buy real estate?

Because when I use debt, debt is this fake money here.

To buy a house, this goes down in value, but the house goes up in value.

So that's why the smart people know how to use debt to get richer, because they use debt to buy real assets, and this gets worth less and less and less and less and less.

It's Gresham's law.

When bad money enters a system, good money goes into hiding.

When bad money enters a system, the rich buy more assets like real estate, land, things like this.

So they get richer, and the poor and middle class get poorer because inflation kills them.

That's Gresham's law.

It's been around for thousands of years.

So I hold this up here, 1964 real silver, and this.

I say, which would you rather have, this 50 cent piece or the $10?

The rich will take this, poor middle class will take this.

Let me explain this.

When you print money, the price of assets go up, like my apartment houses go up, the price of oil goes up, and things like this.

So what happens is you print money, the price of oil goes up, but so does the cost of a chicken because a chicken takes gas to get it to the supermarket.

So you go to the supermarket, why is this chicken $10 today, whatever it is?

I don't pay attention to that stuff.

But we're printing so much money.

Today, this here, the solid gold watch, I've been buying gold since it was $50 an ounce.

That's why I own gold mines.

I don't like to fool around with too much stuff.

I have real gold.

I can take it, I can feel it.

It's in a private vault hidden in some mountain not too far from here.

But the reason why I buy this gold watch, let's say it costs $50,000, five years from now, what will this gold watch be worth?

See, if gold today is, let's say, $3,000, and the prediction is gold is going to go to $15,000, so that's a five-timer.

So the reason I buy a gold watch, I can buy a cheap-ass Swatch watch or a Timex or whatever it is for 50 bucks.

I have some of those too.

By buying a gold Rolex, I'm not saying do it, I'm just telling you how I think and how poor people think.

I'm going to get myself a cheap-ass Apple watch.

No right-lefty Apple person would buy a solid gold Apple watch because it doesn't fit their genre.

But when I buy this thing here, I get to wear my asset on my wrist because it gets more valuable the more our government is fucked up.

The more they print money, the more valuable, it's not the watch, it's the gold in the watch.

So I'm just saying to you, that is how I think, and I was trained to think that way.

But a poor person, they want to buy something that's nice-looking but inexpensive, and that's why they're poor.

You know, some people will buy, like I see women with these very expensive handbags.

I hate to tell you this, the only place that's going to be good for is a Salvation Army thrift store, but they have some Gucci bag or something, or they got Gucci shoes, or whatever they have.

But there's nothing wrong with wearing your assets on your wrist, or gold earrings, because it's not the earring, it's the gold.

So if you can understand that, the reason poor people are poor is they think if they get something for cheap, they're smart, but they're really poor.

So ladies and gentlemen, people talk about mindfulness now, and Buddhism is mindfulness.

What are you saying to yourself?

Oh, I can get by living this, or I can eat cheap food, or I can do this.

Remember this, this is the rule.

When the government prints money, assets go price up in price.

The rich get richer, but the poor get poorer.

So when you print money, the price of gasoline goes up, I get richer, because I own oil wells.

The poor middle class get poorer, because they're putting gas in the car, it's also taking gas to get that chicken and toilet paper to the supermarket.

So that's what's going on in America today, and the biggest problem, as you know, is that most of our leaders, a lot of them are school teachers, like Tampon Tim Walls, who ran with Kamala.

He's a college professor, or something like that, the governor.

Don't hang out with poor people.

It's a waste of your time.

My poor dad, smart guy and all that, poor as a church mouse.

He wanted everything that was inexpensive, rather than something that was valuable.

Not the price, but what is the long-term value of what you're buying?

Today, I'm taking delivery on a new car, not that I need a new car, but it's a very rare car.

So I get to drive around in a very rare car that only rich people can afford.

Oh, such a waste of money.

I'd rather drive around in my Toyota Prius.

Okay, that's fine, you get from point A to point B, but you get richer.

No, that's the problem.

So the problem isn't the Toyota Prius, or my new collector car coming in.

The problem is how you think.

So ladies and gentlemen, it's called mindfulness.

Be mindful.

The question is, are you thinking like a rich person, a poor person, or a school teacher?

So if you want to find out the top three things that schools should have taught you about money, and three is light, man.

They don't teach you anything.

But the top three things that school did not teach you about money, please watch the next video.