Four States Are Suing to Protect the Fraudsters.

THE GOVERNMENT PAID $186 BILLION TO FRAUDSTERS LAST YEAR.

Dear Reader,

The GAO just confirmed it. The federal government paid $186 billion in improper payments in fiscal year 2025 alone.

Not accounting errors. Not rounding mistakes. IMPROPER.

And when federal investigators tried to find out where the food stamp money actually went, four states said no. For nearly 365 days, they refused to hand over the records.

Kentucky. Michigan. Minnesota. Pennsylvania.

The Department of Justice had to sue all four of them simultaneously just to see the data.

IN TODAY'S ISSUE:

• $186 billion in improper payments. The GAO confirmed it. And four states are suing to keep the fraud going.

• Japan's yen just hit a 40-year low. Every fiat currency ends the same way.

• CPI at 4.2 percent. M2 at $23 trillion. The money printer never stopped running.

• Jim Rickards just identified Trump's Next Big Buy. Find out what it is before the crowd does.

Here is what every major outlet told you this week: Trump is cutting food stamps. Millions will go hungry. The cruelty is intentional.

Here is what they left out.

THE NUMBERS:

• 1. $186,000,000,000. That is what the federal government paid in improper payments in fiscal year 2025. Not errors. IMPROPER.

• 2. That number grew by $24 billion from the prior year. Up 15 percent.

• 3. Since 2003, the government has handed out roughly $3 TRILLION in improper payments. Three trillion dollars. Gone.

• 4. Kentucky, Michigan, Minnesota, and Pennsylvania refused to hand over five years of SNAP enrollee data to federal investigators.

• 5. The DOJ had to sue all four states simultaneously just to get access to the records.

And the media wants you to feel sorry for the system.

I don't.

"These states are happy to take hundreds of millions of federal tax dollars, much of which is exploited by fraudsters, but want zero transparency over how those tax dollars are spent."

Read that carefully. The states TOOK the money. They distributed it to fraudsters. Then they refused to hand over the records. The DOJ had to drag them into court.

My poor dad believed in the system. Worked hard. Paid his taxes. Trusted the government. Retired poor.

My rich dad said: watch what they DO. Not what they SAY.

What they are doing right now: printing money and paying fraudsters.

CPI just hit 4.2 percent. Highest in three years. Energy is up 23.5 percent year over year. M2 money supply is $23 trillion and growing at 5.6 percent annually. They never stopped the printer.

And there is one more signal that tells you exactly where this all ends. It is not coming from Washington. It is coming from Tokyo. When you see the number, you will understand why I have been saying what I have been saying for 50 years.

The number out of Tokyo: 161.96 yen to the dollar.

That is the weakest the Japanese yen has been since 1986. Forty years.

Japan is the third-largest economy on the planet. Not a banana republic. Not a failed state. Its currency is collapsing in real time.

The Bank of Japan raised rates to 1 percent in June. Their highest rate since 1995. It did not matter. The yen kept falling.

I have been studying monetary history for 50 years. Every fiat currency follows the same arc. Some faster, some slower. All of them end the same way.

"The fact that gold has sold off again is just an opportunity for people to buy more. The strength in the dollar is the same thing."

Schiff is right. Gold pulled back. Good. I bought my first gold in 1965. I bought more in 2000 at $300 an ounce.

Here is what I said publicly on June 29:

"Profit is made when you buy, not when you sell. I still believe gold will reach $35,000 in 5 years. All markets fluctuate, and the wealthiest investors invest for the future."

The E and S quadrant people are panicking right now. The B and I quadrant people are loading up.

$186 billion in improper payments. Four states suing to keep the fraud going. CPI at 4.2 percent. The Japanese yen at a 40-year low. M2 at $23 trillion.

THEY ARE TELLING YOU WHAT IS COMING.

Gold. Silver. Real assets. Get out of paper money and into things that governments cannot print.

Pigs get fat. Hogs get slaughtered. Be the investor, not the taxpayer.

To your freedom, Robert Kiyosaki

P.S. While Washington loses $186 billion a year to fraud, I have been watching a strategy that has nothing to do with the government or the Fed. It is called the Patriot Income Plan. My team at The Kiyosaki Letter built it for investors who want income the system cannot take away. If that sounds like you, click here to see how it works.