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The Overlooked Wisdom of the Young

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dailyreckoning.com

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dr@email.dailyreckoning.com

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Tue, Feb 23, 2021 11:46 PM

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Cryptos, Old Dogs, New Tricks Were you forwarded this email? Over the last year, billions of dollars

Cryptos, Old Dogs, New Tricks Were you forwarded this email? [Sign-up to The Daily Reckoning here.]( [Unsubscribe]( [Daily Reckoning] The Overlooked Wisdom of the Young - Are 2019’s investment ideas already obsolete?… - The real reason people are flocking to cryptocurrencies… - “Not understanding something is not an excuse to ignore it. It is a reason to get educated”… Recommended Link [DO NOT buy another small stock until you learn this]( Over the last year, billions of dollars have been flooding into the biotech market thanks to the hunt for a vaccine… And these investments have driven select biotech stocks to the moon. But there’s much, much more happening in biotech than the search for a vaccine... So how can anyone know what to look for? Wall Street Daily founder Lou Basenese is hosting a LIVE biotech trading masterclass… You’ll learn his 7-Step Process for identifying the best opportunities in the biotech sector. And he’ll be sharing one biotech stock recommendation for FREE! [Click Here To Sign-up For Free]( (By clicking this link, you’ll automatically be opted into Lou’s training event, as well as periodic updates from Lou’s Trend Trader Daily e-letter (privacy policy)) Scottsdale, Arizona February 23, 2021 Editor’s note: You may be deeply skeptical of Bitcoin and other cryptocurrencies, and you may have good reason to be. But today, “Rich Dad” Robert Kiyosaki shows you why he’s come to accept them. He’s an old dog who says he recognizes the need to learn new tricks. [Robert Kiyosaki] Dear Reader, Sometimes life just isn't fair. When I was growing up in the 1960s, my parents said to me, "Listen to your elders. You need to learn to respect their wisdom. Someday when you're older, young people will listen to you." So, I listened to my parents and grew up respecting the wisdom of those older than me. But that notion has been turned upside down: Nowadays, people my age need to listen to and respect the wisdom of people who are younger than we are. Investing success often depends upon the relative age of your ideas. Today, people of all ages are in trouble because their ideas aren't just old; they're obsolete. One example of an old idea is that of the traditional job. Jobs are a centuries-old concept created during the industrial revolution. Despite the reality that we're now deep in the Information Age, many people are studying for, or working at, or clinging to the Industrial Age idea of a safe, secure job. Now people aren't just losing their jobs — their jobs have migrated to foreign countries or are disappearing altogether. Alan Blinder, an economist and former Vice Chairman of the Board of Governors of the Federal Reserve System, says new communication technology will put as many over 40 million American jobs at risk of being shipped abroad in the next decade or two. That's double the number of U.S. workers in manufacturing today. In spite of such alarming figures, our schools still program kids to look for jobs. Advising people to go to school to learn to be an employee is as obsolete as advising young people to become peasants and work for a landlord. People need to be trained to be investors and entrepreneurs, not employees. Obsolete Every 18 Months My point is this: In a rapidly changing world, nothing is more dangerous than an antiquated idea. Just look at how Amazon.com has changed the world of brick-and-mortar bookstores such as Borders and Barnes & Noble. Examine how Zoom is tearing down the way monster corporations run their businesses. Where do you think the people who work for those Industrial Age employers will be in 10 years? As I said, people aren't losing their jobs — jobs and companies are disappearing. I'm glad I listened to my “rich dad” and became an entrepreneur rather than ending up as an employee like my “poor dad” wanted. Most people today realize that knowledge is doubling every 18 months. Does that mean our ideas now become obsolete every 18 months? Maybe so. Personally, it makes me feel like I need to assign an expiration date to my ideas and update them regularly. Recommended Link [Biden Set To Trigger Major Devaluation of the U.S. Dollar]( [Read more here...]( The U.S. dollar is in free fall and many analysts are predicting the crash will continue under President Biden. Banks across the country are already preparing. The agency that regulates all banks in the U.S. issued this new rule that will change everything. If you have money in the bank… See what’s happening to our banking system and how to prepare. [Click Here To Learn More]( Much of my company's revenue comes from the web, even though I remain a technophobe. My company survives because I've learned to respect the ideas of people younger than me and recognize when my wisdom is obsolete. While people my age think of investing as an action done in the stock market or through real estate, the reality is crypto investing may be where we need to grow our education and understanding. And in order to learn, we need a teacher. One of my teachers is Jeff Wang. Jeff is unique because he not only has an understanding of Bitcoins but also has a mastery of the underlying technology. Never More Bullish on Crypto We’ve seen Bitcoin break through its all-time highs, passing $55k recently. We’re at the point of maximum media attention, fund exposure and retail investor hype. These are all signals that we’re near the last phase of the bull run and in need of a “reality check.” That being said, I’ve never been more bullish on crypto. The problem with investing, however, is that most assets take into consideration future value, but building a valuation model around Bitcoin and other crypto assets is next to impossible because they’ve all surpassed my price projections. Before we move forward, I want to advise you not to sleep on Ethereum (ETH). While Bitcoin is stealing all the attention, Ethereum is actually up more percentage-wise in the same time period. It also has more practical uses than Bitcoin. In short, if you buy Ethereum, you’re investing in blockchain technology that is shifting into real-world utility. Crypto Will Become More Relevant as Fewer Investments Become Available With bonds and interest rates at historic lows, residential real estate growing at the fastest pace in 6 years, and stock markets at all-time highs, there are really not many places to earn a yield on money right now. Crypto is taking a lot of the spotlight for that very reason. When everyone is looking for 3% (historic bond yield) or 9% (historic S&P 500 yield) gains, crypto is up hundreds of percent. This is only going to cause more people and financial institutions to add crypto to their portfolios. For example, Bitcoin got a huge boost recently when Tesla announced it was buying Bitcoin. There’ll be other examples. Additionally, with more regulatory authorities stepping in, crypto will only become more mainstream. Bitcoin might be in the news now, but soon we’ll see other crypto projects appearing in mainstream news regularly (can you imagine “Ethereum 2.0 delegations go live!” on CNBC?). Recommended Link [This Could Be The Most Profitable 9 Minutes Of Your Life]( [Read more here...]( A former Chicago lawyer is setting the investing world on its ear because he’s developed a way to collect instant cash payouts of $410… $950… $1,050… and even $1,300 from the stock market... over and over again. Best of all, it only takes 9 minutes each week. [See His Program For Yourself]( But that doesn’t mean you should rush in and start buying cryptos hand over fist. Like with every investment, you need to do your homework. Here are some reality checks: Uncle Sam First of all, you don’t make hundreds or thousands of percent gains without the scrutiny of the U.S. Government. So don’t think you can hide from the IRS. Other traps are awaiting the uninformed crypto investor. For example, there’s still a ton of things wrong in the crypto space: - Coins are being listed every day, and uninformed people are jumping in and losing a lot of money because they don’t understand what’s going on (especially with so many scams). - Projects are still getting exploited/hacked, which really screws over investors when the asset goes to $0. - People have no shame baselessly promoting various crypto assets solely to boost their assets so they can dump them later at a high price (“pump and dump” strategy). I’ve seen videos of people saying “XRP to $1000!” without even providing a valuation model or being based in reality (that would make it worth $100 trillion...). - The same groups of people are repeating the same project ideas, cloning and listing them, and then exiting with all the profits. The government is further concerned about money laundering, tax evasion, funding of crime or even terrorism. Globally, every country is worried that cryptocurrencies may disrupt the entire financial system. For example, what would happen when people flee a local currency, like the U.S. dollar, to safe havens like Bitcoin? But that doesn’t mean you should run away from cryptos. Far from it. You just have to know the full story and educate yourself. Ignorance Is No Excuse To my generation, the idea of Bitcoin and cryptocurrencies is scary. It does not make sense to us. We ask ourselves, “How can money be made out of thin air? What is digital money?” Not understanding something is not an excuse to ignore it. It is a reason to get educated. Cryptocurrencies are not going away. The investment opportunities are not going away. The crypto universe is slowly melding with the stock market. Cryptocurrencies are about to be able to be traded like stock options. What does this mean? Cryptocurrencies will be able to make the educated investor profit when they go up in value, down in value or simply stay even. Once again, financial education is the key. And in this situation, an investor needs to get cryptocurrency education. That is why I speak to cryptocurrency experts. Ignoring the future is an old man’s game. It is time we not only look at the opportunities the younger generations create but also take the time to understand them. It could be a very profitable learning experience. Regards, Robert Kiyosaki for The Daily Reckoning Editor’s note: We sometimes come across information from our affiliates that we feel compelled to pass along to you. Today is one such day. If you feel like you’ve missed out on the cryptocurrency boom, if you’re tired of hearing that this crypto or that crypto has gained thousands of percent while you’ve sat on your hands… [there’s hope.]( You can make up for lost time. This renowned crypto authority believes he can show you how to [“catch up.”]( But there’s a caveat... He also believes this could be your last opportunity to get the life you want… because once these things take off… it can be like trying to catch a shooting star. Don’t be left behind. [Click here now]( to learn more about how you can make up for lost time and potentially get the life you want. --------------------------------------------------------------- Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Robert Kiyosaki][Robert Kiyosaki]( author of bestseller Rich Dad Poor Dad as well as 25 others financial guide books, has spent his career working as a financial educator, entrepreneur, successful investor, real estate mogul, and motivational speaker, all while running the Rich Dad Company. Add feedback@dailyreckoning.com to your address book: [Whitelist us]( Additional Articles & Commentary: [Daily Reckoning Website]( Join the conversation! Follow us on social media: [Facebook]( [LinkedIn]( [Twitter]( [RSS Feed]( [YouTube]( The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. To end your Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [unsubscribe here.]( Please read our [Privacy Statement](. For any further comments or concerns please email us at [feedback@dailyreckoning.com](mailto:feedbackdailyproof@dailyreckoning.com). If you are having trouble receiving your Daily Reckoning subscription, you can ensure its arrival in your mailbox [by whitelisting The Daily Reckoning.]( [Paradigm Press]© 2021 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security they personally recommend to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Email Reference ID: 470DRED01

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