Silver and Gold Investing is a BAD Idea discusses the recent video Dave Ramsey published discussing whether silver and gold is a good or bad investment. Many within the stacking community view silver and gold as an investment in oneself, not so much a financial tool to earn a return. However, many believe in the precious metals as a tool for savings and hedging against inflation. But what about some financial experts like Warren Buffet or Dave Ramsey? Do silver and gold enthusiasts have it all wrong?
DAVE RAMSEY VIDEO: https://www.youtube.com/watch?v=rC097x9aNwA
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#investing #gold #silver
Just because you're a multi millionaire and have no Gold or Silver positions doesn't make you a financial expert or guru. That's like saying if you're not a mechanic you can't change your oil or work on your car because you're not a so called expert. First, Gold and Silver have no yield. Why? Because it's money. Just like the dollar, the Yen or the Euro have no yield neither does Gold. It's not suppose to. It's not the price of Gold going up or down, it's the value of the price of the currency in Gold terms going up or down. Dave's first mistake is he compares Gold to stock market returns. Wrong! You compare Gold to currencies NOT the stock or bond markets? Why? Again because it's real money. The second mistake with Dave Ramsey is he routinely compares Gold as an investment. Wrong, again. Gold is NOT an investment. It's an asset. It's the only asset that isn't someone else's liability. When you use wrong metrics with wrong data and wrong formulas you get wrong answers. Lol. Gold's main mission is a store of wealth, not ROI. You buy and hold Gold to hedge against depreciating currencies. The dollar is based on a debt inflationary system. Gold is the antithesis of that. For example, under the Gold standard in 1909 a Ford Model T cost $800, you could have purchased the car with 40-$20 dollar bills or 40-$20 Gold pieces(St. Gaudens). Fast forward to today and those 40-$20 dollars bills can't even buy you 4 tires, however those 40-$20 Gold pieces are worth $72,000 today (40x$1800) and can still buy you a car. Do you see the difference ? Is everyone with me? In ancient times a Gold piece (1oz coin) could buy you the finest wardrobe and tunic in the land. Take that same 2,000 year Gold piece teleport it to today and it still can buy you a fine suit, tie, shirt, shoes worth $1800. That's the power of Gold. Dave doesn't seem to grasp, get or understand that simple concept my 7 yr old can comprehend. It's universal, indestructible, malleable, portable, fungible, divisible, a unit of accounting, weight and store of value. Nothing on the planet carries these properties. Dave is great to get people out of debt and with real estate. He's a lousy adviser on Gold, Silver and Whole Life insurance. He's as ignorant and dumb as they come concerning those subjects. Totally clueless. There's a video on Youtube during the 2008 financial crisis. Watch it, he gets everything wrong. His comments were all incorrect. Last…..if Gold is such a lousy, worthless rock like Dave Ramsey says, then why does every Central Bank on the planet have Gold reserves in their vaults and not shares of Buffet's beloved Cola-Cola or Dave's Mutual Funds? Hmmmmm…..answer that for me ? Someone…….Lol
It took you a long time to realise.
So glad ? I don’t listen to him
When you eat a food and don't like it, why say it is bad when someone else likes, even love the taste and flavor. I never listen to the words " you can't" if someone else is doing it. Or "hat's bad for you" when I see others who found their nich. find yours and Ramsey can go.
We are all different. Something about precious metals Ramsey does not like . So what! If you choose metals, stones, futures, commodities or speculate on property just get good at What you do invest in. Unless you inherit Your money, I'd do what I like and learn and watch both good and bad Investing in what I want. Rentals, stocks, precious metals and stones or Art. I love Gold $ Silver. Coins and bullion. All the rest Thanks
I buy metal not because of Russia, Ukraine,…. . I buy gold because to keep it for my retirement and silver because I like it and it's cheap. I don't like Stock and I don't understand it. However, I don't believe at least in my life time silver and gold will shoot to moon, like silver $1000 & gold $15000
You probably won’t read this because this is an old video, but I encourage you to ignore the markets and understand the financial collapse is coming. Be prepared fiat currency will fall and precious metals will rise. Read your Bible, gold and silver is God’s money it’s that simple. This is inevitable, everything is pointing towards the collapse happening very soon. Take your money out of the bank, hedge it with silver and gold mostly silver it’s predicted to have the biggest gains but if we’re all wrong and nothing happens, you’re still hedging your wealth but if the collapse happens, you’ve just made huge gains while the rest of the savers lose. Come on people. This is a no-brainer for anyone who has a substantial amount of fiat currency in a bank. Be prepared.
The gold that I have are my savings because I'm not good at saving money so I lock it in gold
Mr. Ramsey is headed for a world of hurt.
We aren't worried about gold and silver making small moves, we are concerned about the dollar and market crashing. Where else is our money safe? Answer: precious metals. History is clear on this.
Anyone who is pushing people into the stock market is either blind or part of the problem. Dave Ramsey also makes money off of others. Not saying that's bad, but he has his own agenda.
First of all, NOT a Dave Ramsey fan….at all!!!
As a nearly 64 year old dude, I'm just getting back into building on my silver and hopefully some gold soon.
My retirement account has suffered immensely in the past year…my fault, not blaming anyone, I made these decisions.
I am having a blast collecting and holding these silver coins and historic American coins!!!
Guys like Ramsey are ALL about the money :/ How much fun is that?!!
My stocks I have no choice but to hold them, while waiting on the next shoe to drop and that is NOT fun…at all!!!
My endorphins are flowing while holding, studying and pursuing these rare coins, silver and gold!!
I'm not preparing for doomsday, just having the time of my life collecting these beautiful objects.
I collect far too many things, but with the coins, gold and silver, I see my family easily selling these will little effort and little risk when I'm gone.
Personally I worry about people like Ramsey that don't get the joy of collecting valuable, beautiful things and only care about extreme wealth.
Don't want to get too personal, but does he sit at the dining room table with his grandchildren looking at stocks on the laptop? Doesn't sound like much fun.
I feel sorry for him actually.
For me his opinion means absolutely nothing. I'm in it for the long haul and loving every minute of it 😉
During a war or other catastrophic events the stocks crash down; and paper-currency too. Gold survives a war, real estate and corporations are rubble. It's ok to have 0% gold/silver during an obvious peace-time, but it's fine to stock up on gold/silver before precarious times begin ?
Monetary gain isn't the only consideration.
Yes I believe in gold and silver still…
If Gold is my God.
Then silver is my Jesus Christ!
Amen brothers and sisters Amen!!!!!!❤
And the banks are buying gold and silver at unprecedented levels. It is true money and the central banking cartel are going back to the metals in this global reset….these precious metals will be revalued at a much higher price
Remember this upcoming financial change aka quantum financial system is not called the greatest wealth transfer for nothing…this is a once in a lifetime wealth transfer where the middle class will be wiped out. Precious metals are going to prove to be a safe haven ….certain cryptos ie xrp, xlm and companies such as IBM, RIPPLE, CIRLCE….are going to be some of the new big players that will run the new financial system with the banking cartel. All carefully planned
Uranium is better utility .. Physical uranium .. Ohh wait
I've always been told that Gold and Silver are God's money. If it's good enough for him we'll you see where I'm going with this and if Dave wants to put all his faith in something man made well I guess you see where he is !!!
Dave Ramsey is an idiot. There are many videos of him telling people to sell their bitcoin, gold, and silver at rock bottom prices. He is one of those real estate boomers that thinks it will go up forever. ?
Dude America has been founded on gold and silver so screw these high end pricks
Sound bite rings to the tune "Gold is stupid, you're stupid to hold it. Sell it and do your house up" Meanwhile I'm sure someone is buying it while it's still cheap. MYSTERY BUYERS ARE BUYING RECORD AMOUNTS OF GOLD. WHY???