Dear Reader,

The White House just put a number on something I have been warning about for years.

$229.9 billion. That is how much fraud they have uncovered since January 2025. Not estimated. Not alleged. Uncovered, stopped, indicted, or settled.

The mainstream press gave it a paragraph. Then moved on to the Lakers sale.

Inside today's issue:

• The $14.4 billion skin graft scam: how it grew 7,100% in six years
• Why the market record highs today are the wrong number to be watching
• What $230 billion stolen from Medicare tells you about where your money is really going
• New from Larry Benedict: a three-step approach to the oil market he calls "Oil Skimming."

Let me tell you about a skin graft.

In 2019, Medicare paid out $200 million in claims for skin substitutes. Tissue allografts. Medical-sounding words for procedures that help wounds heal.

By 2025, those same claims hit $14.4 billion. A 7,100% increase. In six years.

DR. OZ just suspended 800 hospice providers in California alone over a $1 billion scheme. VANCE's task force has stopped $56.4 billion in payments. $55.5 billion recovered through indictments and settlements. $122.9 billion in Small Business Administration fraud. $96.2 billion at Health and Human Services.

The total fraud uncovered since January 2025: $229.9 billion.

They called these "benefits." Taxpayer-funded benefits.

My poor dad was a teacher. He believed in government programs. He trusted the system. My rich dad told me: follow the money, not the brochure.

Here is what the brochure does not say.

Every dollar stolen from Medicare is a dollar YOU paid in taxes. It is a dollar that did NOT go to a real hospital. A real patient. A real need. It went into a criminal network filing fake claims for skin grafts that never happened.

This is not a bug in the system. It IS the system.

TODAY the S&P 500 set a new record. Markets are celebrating because producer prices came in "softer than expected" at 4.7% year over year. The mainstream press is popping champagne.

I am not celebrating. And here is why.

But before I get to the number that stopped me cold this morning.

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Here is the number that stopped me.

PPI came in at 4.7% year over year for July. That is "softer than expected." The forecast was 4.9%.

But look at the trend: 3.4% in February. 4.0% in March. 6.0% in May. 6.5% in June. Now 4.7%.

The Fed did not hike rates. Markets celebrated. They called it "inflation easing."

I call it a system that cannot stop spending because too many people are feeding at the trough.

Think about what $230 billion in Medicare fraud actually means. That money was printed. It was borrowed. It added to the $36 trillion national debt that your children will pay. And it diluted every dollar you saved.

Gold is at $4,446 today. Down slightly. The mainstream called it a "soft day for precious metals."

I started buying gold at $300. I bought silver for decades. I did not buy them because I thought they were going up. I bought them because I knew the dollar was going down.

EVERY dollar stolen from Medicare. EVERY fake skin graft claim. EVERY billion in SBA fraud. It devalues the currency. It forces the Fed to keep rates lower than they should be. It punishes savers and rewards the fraudsters.

$230 billion is not a scandal. It is the cost of fake money meeting a corrupt system.

The escape hatch is the same as it always was: real assets.

Gold. Silver. Real estate. Assets you can hold that no bureaucrat can inflate away. The B and I quadrant still beats the E and S quadrant. Every time.

To your freedom,

Robert Kiyosaki

Author, Rich Dad Poor Dad

P.S. For years, our friend Larry Benedict ran his own hedge fund, where he quietly generated over a quarter of a billion dollars in profit. Now he's pulling back the curtain on his top oil strategy. It has already helped his readers have a chance at payouts like $4,354, $4,783, and even $6,268. Watch the free presentation here.