[, Music ], you know college education, how expensive it’s got because that’s another big debt on the books right student loans – that’s not an accident either talk to me about that! Well, what happened after the 2008 crash? There was, i forgot, the name of ffl or something like this. It came in in the 1950s and it was to provide student loans for needy people. But what happened when the market crashed in two thousand?
Seven, eight and nine obama had to cancel it because nobody wanted to lend money to students right so obama changed it and it went through what we now know as a student loan debt and the student loan debt of these kids. And so, when you have student loan, debt colleges can charge more money, [ Music ] the trouble with the new loans that obama put out. I’M not blaming him, but those loans are the worst type of debt. You can get they’re non-forgivable you. If you don’t pay off that student loan debt, it’s an albatross around your neck forever, so the people that get screwed by that student loan debt are people either drop out of school and they have this debt or they don’t make enough money to amortize the debt.
So right after the subprime crash in 2008, that’s when these new student loans came in in 2010 and that’s why we have a problem today, but they don’t tell the students that – and those schools are just sucking cash out of these poor students. You know i mean it’s horrible, what they’re doing to students, so we had subprime debt, and now we have subprime education and you’re still not learning anything about money, it’s criminal. What we’re doing it really is because they become enslaved. You know, because of the debt somebody’s going to pay, that you know, so i’m a banker i’ll lend you the money. Thank you very much, you’re going to pay me forever because you can’t default on it.
You cannot bank, you cannot. You cannot declare bankruptcy on student loan. Debt student loan debt is now the number one asset of the us government. Really, yes, wow we have, we have ripped off the youth of our country going to school and the school futures are clueless. So it’s you get.
This seduction, as far as saying you know, you need to go to school, to be somebody, then we’ll lend you the money, because we want you to go to school and the schools then get greedy in the sense of saying well. If they can borrow that much money, we can raise our tuition. It’S so bad wow. Jim, are those. Those does a lot of schools today are our diploma mills.
Yes, you mean you go there and then they make it really easy. And then you get your diploma and you’re out, but they got your money and they’re, not competent students. I mean i have a lot of employees a lot of them not ready for anything. So it’s kind of a mess we’re in right now. So i sit there and that’s why my little rich dad company chugs along and i i love talking to guys, like you say what i say and then the teacher send me hate mail.
You mentioned a a book by uh and buck. Mr fuller uh that you read that had a massive impact on you was uh. Was there more about him that that influenced your thinking? Well again, that seems like a parallel universe, because in 1967 i was schooled in new york. I went to the merch marine academy and there was a thing called expo 67 in montreal, so my classmate and i hitchhiked to montreal to see the geodesic dome that fuller built and the geodesic dome by fuller was the u.
pavilion at the world’s fair. I never met the guy there and then years later in the 78 81 he put on a seminar called the future of business. It was one week long, so i traveled from hawaii to california to attend this one week. Seminar with dr fuller and it blew my head, he blew my brain away and transformed me. I saw another world, so i think the spiritual side kicked in versus the mental side and he had us here to say he says you do not belong to you.
You belong to the universe. Your true purpose may be forever obscured to you, but you may rest assured you’re committing your life. You are committing your life to the highest. If you are, you are getting close to your life’s purpose. If you commit your life to the highest advantage of others, in other words, was i working for me or was i working for others, so that was 81
Did you feel, like you found a purpose at that point?
Like you get cool, it was time to work for others at the time i was in rock and roll making a lot of money. You know i was. I had a um. I was working for duran, duran, the police boy, george van halen, and all that sex drugs. I don’t do i don’t do drugs with a lot of sex rock and roll.
That was fun and i was just making money. Yeah and fuller says you do not belong to you. You belong to the universe. Your true purpose may be forever obscured to you, but you may ris. Rest assured you’re.
If you commit your life to the highest advantage of others, and so in 81. I had to ask myself: what do i know? What can i do as fuller says, i’m just a little guy. So what can we all do as little people and we find our purpose when we want to help others? We don’t we don’t find our purpose when we just want to make money and that’s what i was doing so i said what do i know and that was 81.
Then 83, his book came out grunge of giants. It was about how the central banks of the world rip us all off. I knew that game wow. I grew up in it. I know it so then i said i’m going to have to start teaching, so my wife and i in 83 of god sad.
I sold everything my wife and i went homeless just to teach and we just kept teaching what we knew about money and today we’re multi-millionaires just kept going: [ Music ], you