Why the Same Mistake That Caused 2008 Is Happening Again – Robert Kiyosaki, George Gammon
Private credit is becoming a major force in global finance—and a growing risk to the economy. In this episode of the Rich Dad Radio Show, Robert Kiyosaki sits down with macro investor George Gammon to break down what private credit is, how it works, and why it could trigger the next financial crisis.
Most people don’t understand how modern lending works outside the traditional banking system. George explains how “shadow banks” borrow money from institutions and lend it to higher-risk borrowers at elevated interest rates. This system can function temporarily, but it depends on continuous refinancing and rising asset values. When that cycle breaks, the consequences can spread quickly across markets.
You’ll learn how private credit mirrors the same underlying risks that caused the 2008 financial crisis, why yield curve signals matter, and how rising risk can disrupt the flow of money and credit in the economy. Robert and George also discuss broader macro threats, including rising debt, potential credit events, and the impact of artificial intelligence on employment and market stability.
This episode explains why today’s financial system relies heavily on confidence, liquidity, and continuous credit expansion—and what happens when those conditions reverse. It also highlights why traditional retirement strategies may be at risk and why financial education is critical in uncertain economic environments.
If you want to understand where the global economy may be heading and how to think strategically about risk, assets, and opportunity, this conversation provides a clear and practical perspective.
00:00 Introduction
01:11 Private Credit Warning Signs
04:26 Shadow Banks Explained
06:39 Money Flow Engine Analogy
09:01 Wealth Defense Ad Break
11:01 Private Credit Deep Dive
16:05 Yield Curve And Risk
18:57 Triggers Oil Hormuz AI
20:25 Passive Investing Bubble
24:26 Boomers Pensions And Homelessness
27:47 Rebel Capitalist Live Plug
30:48 War Debt And Real Life Stories
35:27 Final Thoughts Get Educated
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
Cameron Long
Cameron is a seasoned CFO and CPA with 31 years in finance. He created the AI Trader's Playbook to help everyday investors use AI to find high-confidence trades — in minutes, not hours.
Read More About Cameron → Get the AI Trader's Playbook
My both favorite. Thank you Robert😊. George 😊
Great video
Great interview thanks!!
Sitting front row and alert is that Marine Corps discipline and passion for his craft. Oorah!!
I’ve read almost every book on making money but nothing come close to “Rise Beyond Riches” book by Arlen Viorra. It’s book that truly shows how to attract money.
If I were to be lent millions of dollars, I would invest it wisely as Uncle Robert teaches and 10X it, eventually, in the long run. At first multiple that money 3 to 4 times. Then in long term at least end up multiplying it 10 times. 10 fold through Real E$tate. Multiple units! I would do many things that I learned from Uncle Robert’s financial education, what it has taught me. Then live off the Ca$h Flow, the Pa$$ive Income. I would do everything Uncle Robert has taught me. For every dollar that comes into your hand, you choose to be RICH or poor. I choose to be RICH..
Hearing and seeing older people still working makes me sad because u would think they are better off
*Binance infinity ETH bug right now*
*I just made a video to show that>*
Thanks men
2:10 mark the nuance is in the fact that in 2008 we called the loans “subprime” however just because a person today has a 700 credit score; is meaningless. Those loans are just as “subprime” once AI takes way their job. The end game is; a credit score means nothing in terms of wealth. There are far too many today who think their networth is based upon how much they can borrow because of a FiCo score
Nice Robert..l Thank you both
Before I understood how power and wealth actually work, I was stuck chasing motivation, quick wins, and external validation. Reading Power Behind Locked Door by Jacob Rockefeller shifted my focus toward structure, discipline, and long-term positioning. I realized it’s not about hustling harder or waiting for a breakthrough moment, it’s about building systems that work quietly in the background. Once I adopted that mindset, I felt calmer, more deliberate, and far less controlled by distractions, fear, or noise online.
Happy Birthday Mr. Kiyosaki!! And Many More!!!
9 years ago I was a security officer at 22 and I was learning from Robert and others and now making a lot of money from this collapse. You can read it and listen about money making but when you do it you realize how much time and life people waste working for money.
Thanks Robert and George.
Happy birthday Robert and thank you
I remember reading Robert’s book Rich Dad, Poor Dad when I was still a child. I wasn’t ready for it then, but I am now. I’m talking about the book itself.
So happy to see George & Robert 🙏🏼 Hope you guys are doing great.
so any platform that allows peer to peer lending? i am assuming yes
Retired at 54, earning $57,000 fortnightly. But honestly, the money isn’t even the highlight. What means the most is having a family that stood by me when life was tough. I’m living the life I once prayed for. If you’re still fighting your battles, don’t lose hope – your season is coming.