Robert Kiyosaki has tried to turn his latest book launch into an viral event by having chapter by chapter released online and inviting comments from readers. The end result will be a hardcopy of the book “Conspiracy of the Rich: The 8 New Rules of Money” [Update: the book is now available.]
Judging by the growing flow of traffic to his www.ConspiracyOfTheRich.com website and the comments from readers, it has not set the world on fire, but it has worked reasonably well.
But there is another reason that I want to review this book. I am, in fact, a ‘raving fan’ / ‘advocate’ etc etc for Kiyosaki’s message.
Robert Kiyosaki is most well-known as the author of the best-selling book “Rich Dad, Poor Dad”. Ever since that book in 1997 he, and his collaborators, have just kept the publications coming.
The controversy he has created over the years has mostly focused on his views that “your house is not an asset” (instead it is a liability because it takes money from your pocket) and that mutual funds are not safe investments.
You might say that by 2009 his views have, at least in part, been proven correct.
Kiyosaki was also controversial when in 2002 he came out with “Rich Dad’s Prophecy” predicting a stock market crash. His claim that the demographics of the Baby Boomer generation would lead to a huge crash in the stock market as they stopped working and started living off their investments, was for 2010 and beyond so this claim is still untested.
But “Conspiracy of the Rich” is his strongest statement yet.
From the Introduction title: “The Root of All Evil”, to the later section on “Hijacking of the Education System”, to comparing the US to wartime Vietnam or the shanty towns of Cape Town in South Africa, Kiyosaki is at his most vivid and scathing.
“Today, those who have a strong financial education have an unfair advantage over those who do not.”
As always Kiyosaki talks in very general terms, using stories, and metaphors (eg the fairy tale of the big bad wolf blowing the pig’s houses down). He also references entire segments from his previous books. In fact every one of his ’8 new rules’ can be found in his previous books.
However this book also has more hard and current facts, and more solid predictions/warnings than ever before.
For example in Chapter 10 he lays out exactly why the financial system seems to be stable at the moment after all the recent chaos. The graph he includes shows that rather than “green shoots”, we are merely in the eye of the hurricane, and that Lehman Brothers etc or worse is set to happen all over again within the next 2 years.
In chapter 12 he all but predicts that the US stockmarket’s low on the Dow of 6,547 is not the bottom, and that there is still much lower to go.
In all of Kiyosaki’s books there is a sustained criticism that he is very repetitive. There is alot of covering the same ground that’s for sure.
But a couple of month’s ago I went back and re-read Cashflow Quadrant and was amazed at how much I found in there that I do not even recall from all those years ago when I first read it.
Personally I have ended up following much of Kiyosaki’s path to wealth. I’d like to say it’s because I’ve followed his advice, but in fact it’s more because my own experiences have agreed again and again with his messages.
If you just want the guts of “Conspiracy of the Rich” you can read the final Chapter 12 “If I Ran The School System”, but there are enough juicy stories and pieces in the rest of the book to make it much more satisfying to read it all through.
If you are familiar with Kiyosaki’s main books, and you understand Fractional Reserve banking, fiat currency and the notion that the the Federal Reserve is “not federal or American, it has no reserves, and it is not a bank” then you can glean the few extra nuggets and be done fairly quickly.
If you are new to Kiyosaki, or have not come across Austrian economics (a term never used in the book) then you are in for both a treat, and a work out. More than any other of his books this one covers alot of territory for the newcomer. It is also one of his most in de.pth books about money and financial literacy and deserves to be read widely
Kiyosaki has gone out on a limb with this book, but history has backed up his claims so far and that makes him worth heeding.
I have been reading Robert Kiyosaki’s books for about a decade, and have read all the way back to his “If You Want To Be Rich And Happy, Don’t Go To School?” (the question mark there is important.)
Now in “Conspiracy of the Rich: The 8 New Rules of Money” Robert has laid his reputation on the line.
Personally I wouldn’t want to be living without this knowledge for my future.
Note: To read the book online before it finds it’s way into bookstores you can sign-up at www.ConspiracyoftheRich.com. But July 14 will be the LAST day to complete reading the book there.
You can leave your own thoughts on this review or on Kiyosaki’s book, in the comments section below.
[Update: the book has become a best-seller and is available as a paperback physical copy.]
-Martin Russell
4 Comments
Hello,
My name is Samantha. I am a professional blogger who loves to write on financial topics. I’m writing to you because I am currently trying to take my author identity to the next level by supplying informative articles to personal finance bloggers. I don’t believe in writing promotional articles, instead I feel informative stuff are something users are most interested in reading.
I would hereby like to request an opportunity to write a guest post on your site, ofcourse free of charge. You can send me your preferred topic, if any, and I would be happy to write an article on it. I can show you some of my past work that have attracted good number of visitors.
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I think Robert Kiyosaki has a lot of good things to say on financial education. His cashflow quadrant is particularly relevant
I have read several or Robert’s book and have enjoyed them all. The most recent book I have added to my library is “The business of the 21st Century” where Robert talks about network marketing and how he decided to join a network marketing opportunity. He also talks about how this is a business where anybody can get into the “B” quadrant. As we know from “The Cash Flow Quadrant” we all want to be in BIG BUSINESS”
That’s not a book I have read yet, but I have previously heard Robert say he is able to talk objectively about the NM industry BECAUSE he has never been in one. He does recommend NM/MLM, and I have heard him say if he had his time again he would own one
I assume by your website you are in a bullion MLM, and as a note to others of my readers I accept that there are issues with this type of MLM and advise people to search out John Counsel for his take on it. I have no details about your company though, and as you are already successful online I wish you all the best in growing from here.
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