FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer

by Robert T. Kiyosaki

Robert Kiyosaki ― author of the #1 Personal Finance book of all time ― has built a legacy around simplifying complex and often-confusing subjects like money and investing. He continues to challenge conventional wisdom and asks the questions that will help readers sift through today's information overload to uncover ways to assess what's real… and what isn't. And use truth and facts as a foundation for taking control of their financial lives. In this new book―that will be released, by chapter, online to invite reader feedback and questions that will be included in the print and e-book editions―Robert fights what’s ‘fake’ and helps readers differentiate between what’s real…and what isn’t. Robert pulls no punches in his assessment of what is passed off as ‘fact’ or conventional wisdom and believes that a strong foundation―for anything we want to build―needs to start with solid, true information. In today’s uncertain times, creating a secure financial future and the peace of mind that comes with it starts with taking action and taking control. In Fake Money, Fake Teachers, Fake Assets, Robert delivers insights and answers that help ordinary people―who probably haven’t had a lot of financial education―determine what’s ‘real’ and relevant to their financial lives. Every day we are bombarded with news reports and information and opinions… How do we decipher fact from fiction? How do we differentiate between truth and lies? And determine what’s real… from what isn’t? Kiyosaki believes that it starts with education, financial education designed to make us smarter with our money―and able to fight what’s fake and use what isn’t to secure our financial future.

Genres: Business, Finance, Money, Self Help, Nonfiction, Economics, Audiobook

240 pages, Paperback

Published April 16, 2019

About the author

Robert Toru Kiyosaki is an American businessman and author, known for the Rich Dad Poor Dad series of personal finance books. He is the founder of the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos, and Rich Global LLC, which filed for bankruptcy in 2012.
Since 2010, Kiyosaki was the subject of a class action suit filed by people who attended his seminars, and the subject of investigative documentaries by the CBC, WTAE-TV and CBS News. In January 2024, Kiyosaki revealed that he was more than $1 billion dollars in debt.

Reviews

[Xiang Jiek · Rating 3 out of 5]

Key messages:
-buy gold, it protects against money printing, which is caused by underfunded pension plans/corporate bailouts/debasing of currency to fund wars during ancient rome
-buy real estate, using 100% gearing to get infinite return cause you don't have any of your own money in it, look for 100 properties and choose the best one, but be careful cause using debt requires skill
-the poor people rely on education that don't teach team work, mistakes are better teachers, gross universal cash heist is going to steal from those people owning paper assets
-better stick to stock, bonds and mutual funds if you just want to remain an average investor
-mutual funds make you take 100% of the risk and they still get paid fees regardless of performance

Things I didn't like:
-extremely repetitive, I can recall a few story kept getting repeated such as the vietnam gold trader, nixon taking dollar off the gold standard, infinite roi real estate, poor people invest in stock bonds mutual funds, fake accounts teacher, poor dad losing in politics and business, rich dad teaching him about stuff, getting a gold mine listed and losing it, creating cashflow board game.
-there was few pages of weird new age stuff and weird bucky quotes that I can't understand
-there were few spelling errors eg page 218 "moving star", page 427 "calling out o to"

[Yodamom · Rating 3 out of 5]

I think I've learned enough at the 30% point. it has been repetitive for the last 15% rehashing the concepts he first talked about and not with any new deepth. I did learn some interesting facts that I will use but enough is enough.

[Atiba · Rating 5 out of 5]

I enjoy how the author reinforces past teachings from other books in this one with more current events. Allot of reviews hate the repeated lessons but fail to understand that is how the author teaches, by repetition. Which is the same way Rich Dad taught him. 9 lessons over and over for 3+ decades. That's how the Cashflow board game teaches as well. Because sometimes when we read a book and come back to it years later to read it again we noticed something that we missed. Robert is an excellent teacher who teaches by challenging the reader to think rather than spoon feed us the answers. Spoon feeding is how the failed education system does it.

[Yossi · Rating 1 out of 5]

A fake book. This is essentially a one-page manifesto (and marketing brochure) for purchasing Gold and Silver spun over hundreds of pages by repeating the same sentences, same stories, excerpts from previous books, and convincing you to play the RTK game.
I found the whole theory very problematic, especially the piece where "God will bring you money" if you buy gold.

[Laura Benegas · Rating 2 out of 5]

Too repetitive. 1/3 of the book, would be enough.

[Greg · Rating 1 out of 5]

Orson Welles made a great film entitled "F for Fake".* It's about fake artists and fake writers, like the guy who wrote the fake biography of Howard Hughes. This book is 50 pages disguised as 464 pages of really 'helpful' advice like we all need brilliant lawyers to stay out of jail cause nothing is really right or really wrong anyway. As if the middle and poor classes don't know only the rich can afford those expensive lawyers. Comedy? Perhaps. Satire? I can't give Tiyosaki that much credit. When he writes that the last snowflake is about to fall, what's he really talking about? I liked his "Rich Dad, Poor Dad." But not this. *Welles ended the film by saying fake art, fake books, etc., are fine if they are good, interesting fakes. Tiyosaki's work isn't even a good fake book. What is making the poor and middle class poorer? Health care/insurance. That's gotta be fixed, but Kiyosaki doesn't offer any explanations, other than "buy gold" and never sell it. Yes, I'm going to the doctor today and instead of paying, I'll say, "I bought gold, goodbye".

[Michael · Rating 3 out of 5]

This book will sound a bit too tin foil hat for most.
The book repeats itself more often than I would have liked and could have been more to the point.
More biographical than other stuff I have read of his, but largely the same ideas.
Information he gives is still very important nonetheless.

[. · Rating 5 out of 5]

Доста редпилваща книга, както и другите му.
Гледах критики, че е много репетитив, но мен лично това ми хареса.

Редпилва те за много неща - свързани с пари и свързани с учители, които всъщност на много не могат да те научат защото те самите не знаят или знаят само на теория.

Робърт и жена му Ким са много готини и полезени хора.
Играта му кешфлоу е МЕЕЕЕГА трудна, все още не съм успял да я зацепя. Но нор ално в училище и университет ни учат как да сме добри служители на заплата.

В това няма нищо лошо, много хора си харесват сигирността. Но не е ок в училище да йич, ама йич да не се споменава нещо за предприемачество, инвестиране и пари. Да ок може 80 процента от хората да искат сигурност на заплата, но не е ок да не се поне споменава нещо за финансово образование за онези които БИХА искали да се занимават с нещо такова.

То по тая логика няма нужда и химия да се учи (обожавам химията) щото хората не ги интересува химията.

Като се има предвид, че парите са неизменна част от живота на ВСЕКИ ЧОВЕК за 12 години да не се учи НИЩИЧКО за пари и това да се нарича ОБРАЗОВАНИЕ е просто скандално.

Айдв сега въведоха предприемачество. Дай боже да е поне малко адекватно. Чудно ми е обаче кой е написал учебника. Вероятно някой професор по предприемачество, не създал и една компания.

Отдавна се каня да си купя учебниците по предприемачество и да видя що пише там. Ем да наваксам, щото по НААААШЕЕЕ ВРЕЕЕМЕ нямаше предприемачество :D

Хората си нямат представа колко малко знаят за това какво се случва около тях. За аккво са кризите. Защо се случват. Какво са парите.

И това им невежество не само не ги прави блаженни, ами ги подмята наляво надясно, като листо на вятър.

Колкото повече пораствам и уча толкова осъзнавам как училището след 4ти клас е пълна загуба на време.
Ако не друго поне в приложното не е като да са ме занимавали особенно та поне имах време да си се развивам оттогава самостоятелно.

Кофти ми е за тия завършили елитни гимназии, полупили елитна промивка на мозъка.

Може ли 12 години да се образоваме и накрая да не знаем НИЩИЧКО за парите. :D

Тва е скандално. Но уви това става когсто разчитаме на държавата, която едва успява да достави един влак от София до Бургас за 7 часа, едвам успява да проведе избори и един ремонт не може да организира като хората, въпреки милиарди левове ресурс... Когато очакваме тази държава да върши най-ценното - да обучава младите поколения.

Пропаганда получаваме и то доста некачествена (слава богу) :D Щот държавата е толкова зле, че не може и да пропагандира качествено :D

[D.B White · Rating 2 out of 5]

This book has a lot of weird parts...Whenever I see so much preachy repetitiveness, I become suspicious...The way I feel suspicious of salesmen, of holy rollers and of creepy Primerica people, who happen to worship this guy. But to be fair to Robert Kiyosaki, all of these turned out to be great teachers, for better or worse. This book brings to life all your fears and paranoia about global economic collapse. He makes several compelling points and presents some smart ideas. He repeats himself over and over about the same story, which makes me wonder whether he’s either trying to sell an idea or increase his word count. Also, a lot of magical thinking and subjective ideas while also quoting Ayn Rand felt like cognitive dissonance. This guy obviously practices what he preaches, and has made a success of his life, unlike me, so, this review really doesn’t matter in the end. What matters is that I’ve added a few more books to my reading list, recommended in this book, because they sound super interesting. Also, getting excited about formulating a plan for your own financial freedom is fun. Read this to get worked up and motivated, then go read more. Take nothing at face value.

[Harvey · Rating 1 out of 5]

Disappointing. I read rich dad poor dad a long time ago and enjoyed it. Fake, however, is rather very disappointing. You find the same content repeated over and over. As an example, there are several charts (DJIA chart, US dollar value chart, rich's vs middle class' vs poor's worth over time) that appear like 50 times in the whole book. Fake constantly refers to and quotes the same 2 writers, and constantly mentions rich dad poor dad. At some point, I wondered if I should not just close Fake and read the books from these 2 writers. I'm not even sure what to take away from this read. If you are already familiar with the topic of personal finance, I'm afraid you won't learn much from Fake.

[David Peterson · Rating 4 out of 5]

Really good read that gives you both, a high level view of how the world is being taught about money and a deeper level view of how the wealthy view money & assets. It's an easy read to understand. If you have read many of the authors previous books you will breeze through this book as it reviews similar ideas and thoughts presented in his other books. I highly recommend this book to anyone that's never read a book by this author before. He keeps things simple and is an author that speaks & teaches from personal experience. Enjoy!

[Gijs Limonard · Rating 4 out of 5]

4 stars; 5 stars for the message 3 stars for style; after the inevitable reading of Rich Dad, Poor Dad this was a nice addendum/addition in audible format; Kiyosaki's core messages are put rather stridently but are eminently worth sharing nonetheless; paper money is fake money (fiat currency), banks will forever be printing more and more money; inflation is getting worse and worse, physical gold and silver have no counterpart liability (or are as he puts it; God's money); do with it what you will.

[Sarah Kochert · Rating 2 out of 5]

Poorly written. It's as if there was no editor. Missing words, incorrect words in sentences. He may have some good points but seriously get an editor. Frustrating to read. Makes me feel like I'm being duped by reading it because it isn't written well.

[Denis Vasilev · Rating 1 out of 5]

Поток сознания, как-то совсем плохо все стало. Бессвязный текст

[Axel Tellez A · Rating 1 out of 5]

Respecto al contenido en su forma:

Es extremadamente repetitivo, la misma historia de Nixon, de Vietnam, de los errores del padre pobre y demás lo hacen sumamente tedioso. Da la sensación de ser un libro para "dummies" o que reduce la capacidad cognitiva al leerlo.
Es demasiado largo. Un libro de 533 páginas que podría ser resumido en 100 páginas por cualquier otro vende humos con tres pizcas menos de ego que Robert K.

Respecto al contenido en su fondo:

Un libro indefectiblemente engendrado por alguien sin consciencia de clase o una mínima formación crítica-filosófica en el más banal de los sentidos.
Las ideas expuestas aquí, son las típicas que intentan perpetuar la fantasía meritocrática y la responsabilidad del miserable por su miseria (al pobre por su pobreza).
Esta "obra" hace replantear el uso de la palabra obra; este "libro" hace replantear el uso de la palabra libro. Objetos similares, como "La República" de Platón y "Falso" para los cuales se usan estos dos sustantivos pero que tienen entre ellos una distinción infinita hace cuestionarse el uso de los mismos.
Sin duda, este "libro" (que leí casi por obligación) podría ser utilizado no para llenar una estantería, sino para utilizar sus hojas para prender leña o donarlos a mi tía que le gusta hacer manualidades y a veces utiliza papel que ya no sirve para trocearlo y ponerle engrudo.

[Anna Rajmon · Rating 2 out of 5]

I decided to purchase “FAKE” because I was genuinely impressed with Robert Kiyosaki’s first book, “Rich Dad, Poor Dad.” That book profoundly impacted me and remains one of the most important books I’ve ever read. It offered valuable insights and practical advice that I still reflect on today.

However, “FAKE” was a huge disappointment. While the beginning sparked my interest, I quickly lost engagement as the book progressed. The author recycled the same ideas repeatedly, almost as if he was trying to fill pages rather than provide fresh content. This made the reading experience tedious and frustrating, to the point where I had to force myself to finish it.

Moreover, the way the author tries to convince the reader of his points by instilling fear is sometimes uncomfortable. It feels manipulative rather than insightful, which detracts from the overall message.

Unfortunately, this book didn’t meet my expectations, especially considering how much I valued his previous work. It was truly disappointing.

[Richard Felix · Rating 4 out of 5]

It’s really a great book on financial education for better one self understanding and teach others what they rich n wealthy know about money, can’t go wrong with Real practioner teacher Robert kiyosaki he brings previous philosophy from his previous book and NEW and most importantly it shines a light on Gold n silver that I now understand and value and success as a entrepreneur and spiritually unexpected a surprised learned a lot , I recommend this book seeking Financial enlightenment 💰 🧠

[Diego Salazar · Rating 2 out of 5]

Introducción a temas de economía 1. Abandono del patrón oro y temas similares. Demasiado paranoico Robert.

[Dan · Rating 4 out of 5]

Definitely need to reread.
Alot of information.

[Tyler Guptill · Rating 5 out of 5]

Loved this book. Very thought provoking.

[Akshay · Rating 4 out of 5]

The reason I read any Kiyosaki book is not to get some advice on what to do with my money. It is because his books help me change my entire frame of reference and view the financial system of the world in a different light. Then I do my own research and make my own decisions. This change in thinking has already helped me significantly.

This book is the same. Yes it could have been more concise and less repetitive. But the message is clear. The world is setup in a manner that the average person will never take advantage of unless he or she has the right education. The rich will continue to make money off the poor and middle class and we will all go for the ride regardless.

The best part of the book for me was the third part talking about Fake Assets. Just that one illustration of Kushner's tax payments (or lack thereof) sends a very powerful message of how the rich make money and how the poor and middle class facilitate it.

I always find his books as tools that help me think differently - not as books of advice.

[Francisco Santibañez · Rating 3 out of 5]

Bastante bueno a comparación del resto de libros que tiene

[Janne · Rating 5 out of 5]

What a compelling book for anyone who wants to challenge themselves, learn and grow.

Robert Kiyosaki does not tell you what you want to hear what makes him a great teacher. You really have to face the truths, accept the current situation and start working from there.

I discovered several ways that at the moment I am not doing as good as I thought I was. At the some time I found great hope and joy from the fact that I realized this and now can start work towards the higher levels.
For sure this book is to be studied. I highly recommend it to anyone who wants to learn about becoming or being rich. Anyone who is interested in money and value.

What I am going to do based on now that I’ve read this book? I’ll work on my teamwork skills to transition from self-employed to business owner / investor quadrants.

The book changed my view on ownership also and what is really valuable, which puts me to consider about things that are worth owning.

In addition what opened my eyes was how money is created. Of course money is created from nothing by having collateral something real such as gold or land. Value of paper money always returns to it’s original state which is what? 😊

[Brian Sachetta · Rating 2 out of 5]

There are a couple good ideas / concepts in this book. If Kiyosaki had taken those ideas and written a blog post or done an hour long podcast about them, it would have been entertaining and informative. Instead, he wrote this book, which is probably ten times longer than it needs to be, given how repetitive it is.

The core concept of this book is that the economy is essentially built on a house of cards / worthless paper money system thanks to Nixon taking the US off the gold standard in 1971. Now, we print money to get ourselves out of crises, which devalues our "fake" currency. Kiyosaki is convinced that this house of cards / artificially propped up system will eventually crumble, which is why he recommends putting some money into "real" money aka silver and gold.

That, right there, is essentially the whole book. Sure, there are some other decent ideas and terms, but for the most part, that's all you need to know. What I found so puzzling about this book is that I actually agree (to some extent) with most of what he says in it. It's more the execution that becomes its downfall. It's full of rambling, repetition, and the like.

I had noticed in reviews of the physical book that there are literally chapters reprinted in it. Seems like a total hack job by the publisher. I do not think that was the case with the audiobook, but with how much he repeats himself, it almost seems like it was at times. I can't even begin to count how many times he said "gold is God's money. It has been here since the earth was created, and it will be here long after the humans and the cockroaches are all gone."

For those reasons, I give it two stars. If you really feel like you need to check it out yourself, grab the audiobook and listen to the first two hours. After that, the you'll likely see what I mean in regard to the repetition.

-Brian Sachetta
Author of "Get Out of Your Head"

[Ashraf Bashir · Rating 3 out of 5]

Super repetitive, with no practical plan. The arrogant tone of the author is intolerable... And many ads about his paid courses and podcasts!

[Banksy · Rating 5 out of 5]

Robert really opens us up to money, it’s history and it’s future. He talks about Gross Universal Cash Heist, people who control “the money” and introduces us to the term “gods money” which is gold and silver. He points us to other books such as Collusion and we can start to understand the frameworks that make up the economy. The unseen becomes visible when we look at the evolution of banking and the trends that directly impact us such as taxes, inflation and hospital bills. There’s a heist going on and many people are unaware of their role in all of this. The reason why Gods Money becomes important is that it was here before the human race and will be here after. Gods money, as opposed to “fake money” or printed money, becomes a safe haven for the financially enlightened because there is no counter party risk. He doesn’t say fake money is bad money though. He says that the rich use debt to create a cash flow of fake money which they ultimately convert into gold and silver which they hoard.

[Jason Carvalho · Rating 1 out of 5]

PROS: The book has one valid point. Buy (real gold and silver) as a hedge.

It does present sufficient information to support the notion that the American educational system is broken and not useful in today’s New Economy.

It also presents a valid reason to hold money and precious metals outside of the banks.


CONS: It’s not a thoughtful book. It reminds me of Harvey Dent’s books. Filled with filler and charts. It constantly repeats each chapter. It’s like your taking crazy pills. You move onto another Chapter and it’s exactly the same thing as the last.

The books reads like the rantings of an old jaded man. It’s mindset is based on fear and conservative “trumpism’s”.

RECOMMEND? I do not recommend you prioritize reading this book. If you have a 100 finance specific books you read in a year, this book is 100th.

[Florence D · Rating 5 out of 5]

I’m currently audio booking it. From other reviews I’m seeing, it seems as though there are grammatical and spelling errors in the book. The audiobook, on the other hand, is excellent. It’s repetitive but with excellent reasoning: it helps learning that way. Initially, it was kind of annoying but as I’m sadly approaching the end of the book it’s clear that’s what was repeated ties everything together and it makes sense. This book is certainly a 5/5 for me. Some things sound Armageddon like but as he makes reference to history and what’s going on today, it becomes real.

Strongly suggest this read.

[Ayibatari Ogounga · Rating 5 out of 5]

I still don't know how to write reviews, anyway this writing is for me to see(I might be there only one to read this review). but I can say this was a Good book. The right Teachers are important, That determines where your life heads.

Some stuff I picked up:

"Money is an idea, backed by confidence, representing work truly done. and is exchangeable."

The Difference between Communism and Capitalism Communism: Communism is based on centralized government. Capitalism: Capitalism is based upon centralized banks.

So that's all.

[Sylvia Durant · Rating 5 out of 5]

Fake, is an inside picture of what's really going on in America...More importantly this book is full of truth as it is. Close study of this book can keep you ahead of the game. No wonder he's a best selling author.