Dear Reader,
This week, the most powerful banker in America boards a plane to Wyoming. The mountain air is lovely. The agenda says "financial innovation." The real agenda: buy the Fed another six months of looking like it knows what it is doing.
Inside today's issue:
- THE THEATER IN WYOMING: Warsh speaks Friday. Inflation is still above 2%. It has been above 2% for five straight years. Watch the words, not the policy.
- THE NUMBER THEY BURIED: M2 just crossed $23.2 trillion. That is the amount of money sloshing through the U.S. economy right now. Every dollar you hold is worth less today than it was last year.
- THE EXIT: Every empire that inflated its currency told its people things were under control. I will show you the one asset class that has survived every single one of them.
- FINAL CHANCE: CLAIM YOUR SPOT CLAIM YOUR SHARE OF THE 136X GOLD MINER
WARSH FLIES TO WYOMING. NOTHING WILL CHANGE.
FIVE YEARS. That is how long U.S. inflation has stayed above the Fed's 2% target. Five years of press conferences. Five years of dot plots. Five years of "we're monitoring the situation." And this week, Kevin Warsh loads up and flies to Jackson Hole for his first big speech as Fed Chair.
This is what passes for accountability in America today.
Here is the number they do not put on the front page. July CPI came in at 3.4%. Bloomberg ran it as "inflation cools." My poor dad would have called that good news. My rich dad would have asked one question: 3.4% above what?
Above the already-inflated prices from last year. Which were already inflated from the year before. The official scoreboard reads "progress." The grocery bill reads something else entirely.
And while Warsh prepares to say a great deal about "digital payments and policy," the Federal Reserve's own data shows M2 money supply crossed $23.2 trillion in July. Up from $23.15 trillion in June. Up from $20.4 trillion just two years ago. They have printed $2.8 trillion in new money since 2024. That is not "financial innovation." That is the oldest inflation trick in the world, dressed in academic language.
Warsh replaced Jerome Powell in May. Powell was a printer. Warsh says he is a hawk. The bond market is not so sure. The 30-year Treasury yield is hovering near a 19-year high. Markets are pricing a 60% chance the Fed holds rates in September. Not because the economy is strong. Because the Fed is stuck. Raise rates and break something. Hold and watch inflation cement itself.
The Romans did this in the third century. They debased the denarius and called it monetary policy. Diocletian issued an Edict on Maximum Prices to stop inflation. It failed inside two years. The historians called it economic reform. I call it what it is: a government that spent too much and printed the rest.
"The new Federal Reserve chairman is expected to address inflation fears, interest rates, and how the central bank communicates with investors."
He is expected to address inflation fears. Not to fix them. To address them. That is the job now: communicate, not solve. Signal, not act. Meanwhile, every dollar you have saved is worth a little less today than it was on January 1.
Here is what I want you to think about before Warsh opens his mouth Friday. Every central bank speech has one purpose: to make you believe someone is in control. No one is in control. The math does not work. A government carrying $36 trillion in debt cannot run tight monetary policy for long. Something breaks first.
But before I get to what that means for your next move, take a look at this:
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Now. About that math.
The question I always come back to: what survives when the currency fails? Not if. When. History has a perfect track record on this. Every fiat currency in history has gone to zero. Every single one. The U.S. dollar is the world's reserve currency, which means it gets to last longer. But it does not get to be exempt.
Gold is at $4,454. Silver is holding above $32. Bitcoin cleared $100,000. These are not accidents. These are the market's verdict on what Warsh is about to say in Wyoming. When money becomes unreliable, people move toward things that cannot be printed.
I have been saying this since 1997. When I wrote Rich Dad Poor Dad, the U.S. national debt was $5 trillion. It is now $36 trillion. My poor dad trusted the system. My rich dad bought real assets. One of them retired in comfort. The other worked until he could not.
The Fed does not decide what gold is worth. The market does. The market watches $23.2 trillion in M2 and draws its own conclusion. Warsh can talk about "financial innovation" all week. The gold chart already wrote his speech for him.
You do not need to predict what Warsh says Friday. You need to decide: do you hold paper, or do you hold something real? That is the only question that matters this week. Or any week.
To your freedom,
Robert Kiyosaki
Author, Rich Dad Poor Dad
P.S. 136X Gold Miner Update.
The confirmed number is now 94.9% committed. At this pace, the reopened allocation of the 136X Gold Miner fills imminently, and this is the last email I will send you about it.
There is nothing left for me to explain. You have seen the presentation, or you have not. You watched the first window close, or you heard about it.
There was one reopening. I would not count on two.
If this deal is for you, the door is open right now, and I mean right now. If it is not, thank you for reading, and our team will see you on the next one. The research bench is already deep into diligence on it.
FINAL CHANCE: CLAIM YOUR SPOT CLAIM YOUR SHARE OF THE 136X GOLD MINER
One third the size of the first window. First-come, first-served. When it fills, it closes.