The Conspiracy of The Rich

I’ve just finished reading the soft cover version of Robert Kiyosaki’s latest book – authored interactively on the web – Conspiracy of the Rich. I had also read a number of earlier chapters as they were being written online here.

I’ve read a number of Kiyosaki’s books – including Rich Dad, Poor Dad and The Cashflow Quadrant – and he does an excellent job of making finance and investing matters understandable. In fact, perhaps like many people, after reading Rich Dad, Poor Dad I was shocked to discover my own house was not an asset!

I also recall vividly how I wished I’d known this sort of information at a much younger age.

Now Robert Kiyosaki has done it again – an easy-to-read book that I believe is essential reading for anyone seeking to get ahead financially in these difficult times. The book is subtitled “The 8 New Rules of Money” – and elaborating on those rules is what gives the book its structure.

However, this book also breaks new ground by discussing the nature of money, its origins – and much to my surprise and pleasure, also covers the essential facts as to how this current recession developed and why it is not likely to go away in a hurry.

You’ll also read about the origin of Federal Reserve, the nature of fiat money, fractional reserve banking and a host of other fundamental economics and money issues that Kiyosaki obviously has a good grip on.

He states his mission in life is to bring sound financial education to the world, and finishes the book of with a list of things he would teach children at school – if he was running the school system. And just to give you a taste as to what this book is about, here are the topic headings of his suggested 15 Financial Lessons – which he believes to be essential to accelerating a person’s financial intelligence:

1. The History of Money
2. Understanding Your Financial Statement
3. The Difference Between an Asset and a Liability
4. The Difference Between Capital Gains and Cash Flow
5. The Difference Between Fundamental And Technical Investing
6. Measuring an Asset’s Strength
7. Know How to Choose Good People
8. Know What Asset is Best For You
9. Know When to Focus and When to Diversify
10. Minimise Risk
11. Know How to Minimise Taxes
12. The Difference Between Debt And Credibility
13. Know How to Use Derivatives
14. Know How Your Wealth is Stolen
15. Know How to Make Mistakes

Hands up. Who learnt the above at school?

As is typical of Kiyosaki’s books, this is a fascinating and easy read. It speaks in plain language, and repeats things often enough to ensure the essential points get into your head. And I believe that if every child were to be exposed to his writings (not to mention late-starting adults!), then the world would indeed be a much different place.