Should I put $50,000 Into Precious Metals to Protect It?
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- Опубліковано 16 бер 2022
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Putting a small percentage of your net worth in precious metals is not a bad idea, but if you have debt, that should be taken care of first.
Yeah the cart before the horse.
I have noticed that most I know talking about investing in precious metals and worried about things like inflation and property taxes are broke and in debt not financially prepared.
I'm not worried about paying off my fixed rate debt at the moment. Each month the dollars are worth less and less so as long as you have fixed debt lower than the CPI your winning.
Very well said!
So then why do banks protect their own money using precious metals?...
Precious metals is the place to be at the moment to protect and preserve your wealth over the long term. The future does not look good. Not to mention digital only currencies, not a good future whatsoever.
Because banks dont have money. They have debt and leverage that debt.
🤔
Dave 'inflation is a conspiracy theory' Ramsey
Dave LOVES inflation
Inflation does not impact the top 25th percentile meaningfully.
@@harrychu650
Huh? Sure it does.
Their assets go up in value.
Their are way better ways to hedge against inflation..
@@Jenger420 such as? Buying dollar denominated assets?
Buy and hold medals if you’re debt free. I hold metals as a savings account instead of cash it has worked out great for me 💯
I’m sure it’s not a conspiracy theory to all those Canadians who had their bank accounts frozen because of the trucker convoy.
Okay nutter. What’s the plan here. They should have bought a bunch of metal and then traded that at the local grocery store?
@@DavidRamseyIII Dave said the gov seizing bank accounts was a conspiracy theory. It has literally, recently occurred right across the border. But ok, nUtTeR. I can hear everyone standing and clapping for your epic comment. What’s it like to be a winner like you?
@nster There were 42 accounts frozen (according to official sources). Either way its not a total hoopla , it really did happen here in Canada.
Let's not forget what happened with the banks in Cyprus around 2012-13.
@nster They froze accounts that donated as little as $50, and it was not illegal to donate. BLM shut down numerous places, no one cared if you donated to them.
And if the value of the US dollar falls….?
If the value of the U.S. dollar falls than he would own these metals that would require more money to purchase. He would have more money/ protect it.
but that's the same thing if he puts it into almost any safe investments. The only real concern is if he puts the money into a savings account where it will lose to inflation.
it already is falling like a rock, hence why 99cent store became $1.25 store
People married with wife,kids,alimony,child support,debt,too big of home,etc. would have to have that on their list of worries they already have.
It will not fall, however the buying power of it is very small.
Petrodollar is collapsing. Dollar reserve currency is something for the history books now.
It already happened in Canada and Australia
Justine Trudumb and Christia Slaveland did that!
Look up “bail in” laws.
Dave is wrong once again.
“Conspiracy theorist” he says 🤮👎
What happens if America losses its standing as the worlds reserve currency.... I dont think this is gonna age well
Like it’s just about to. Petro dollar is becoming petro yuan. Let’s go Brandon 👍🏻
This will age well lol. Coming back to comment again in 2030.
Exactly... Once the Great Reset is set!
"You will own nothing and be happy"...- Klaus Schwab
Dave Ramsey doesn't know everything..
"Coming back to comment again in 2030" - some internet weisenheimer in 2022 taking a break between Alex Jones and his 8chan group.
No, you won't. Well except to move the goal posts when your doom and gloom prediction didn't pan out the first time.
It will age well. The S&P will have a 200%+ return and his precious metals will have a
More like 2024…
Canada has entered the chat...
That's one thing I don't agree with Dave Ramsey. Some precious metals is a good idea. Dave wake up
If you wanna store cash for years at a time, precious metals is better than holding cash.
Wasn't there a parable about a guy who stored cash for years at a time?
And yet stocks are better than either of them.
@@TheVasMan Yes! Parable of the Talents (Matthew 25:14-30). Just read it today lol
@@scarpfish how are you feeling about that comment now? 😂🤣
@@scarpfish stocks are a gamble
Precious metals is the place to be to protect and preserve your wealth in these ridiculous times.
Facts. Disagree with Dave on this one.
@@trealsteve - Where precious metals (real money) are concerned Dave is an idiot. Does he understand the times we are living in? Hold long term and reap the benefits.
i love AVGN, which one was your fav episode
I flipped a condo in 2006, making exactly $50K. It then went into precious metals, which sold for $130K in 2011. Since the S&P broke even during that same time frame, sometimes it makes sense to be a whackadoodle during a financial crisis.
A broke clock is right twice a day.
There are people everyday who walk in to a casino and put their life savings on the line. A very small percentage of those people get lucky but that doesn't validate that approach.
@@superblump87 Yea, but when the clock is smoking you know it's gonna break. Smart people take action when they see the signals.
@@brenthunter3309 except precious metals are the exact opposite of gambling.
I have plenty of customers that have had their checking accounts hacked . Its actually pretty common
Had my savings account hacked too. But the bank refunded it. And banks usually do…
@@a.colleenfray2138 Until they can’t…
you asked the wrong guy for advice on this topic caller.
I agree that putting all your savings in precious metals is not smart, but a healthy portfolio should contain 5-10% in precious metals.
Buying any precious metals that you can't hold in your hand is useless.
@@noname-oe9jy Absolutely, if you don't hold, you don't own it.
"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power." - Alan Greenspan
Unfortunately Dave has not been paying attention 😒
For the caller to say he's watched the show for a month, but then to call with these questions makes me think otherwise.
This will not age well
What happened in Canada? Didn't they close people's bank accounts?
Yes they froze them!!!🇨🇦
I love that line cut offf button on desk, solves all calls.
Dump button!
Precious metals are a great investment!
Dave Ramsey gave good advice for this person because, before investing one should Not be in debt.
But he's very wrong on this conspiracy theory...very wrong!
"He's very wrong on this conspiracy theory!" - every conspiracy theorist ever.
@@scarpfish just open your eyes and look around... not very hard to miss... Unless you're blind.
Karmie, I pray Alex Jones is wrong. Until then prepare.
Inflation is the thief his friend is referring to.
"I listen to you all the time."
* proceeds to demonstrate no comprehension of any of Dave's basic advice/baby steps *
Well, does a metaphor of stealing work in the context of a central bank hyperinflating the currency?
And all the experts on precious metals have entered the comments.
I'm only stunned that their cryptocurrency counterparts haven't as well.
Dave I agree about getting out of debt. But hind site being 20 20 tells me precious metals are a safe harbor because they don't disappear like stocks, bonds, etc...
Bank bail-ins, get ready to get your checking accounts drained by failing banks in America, and don't expect the fruads at FDIC to insure your deposits
Yes the world is coming to an end. We’ve heard you from the early 1950s to the 2000s and now.
What kind of horrible fear based life do you lead. Turn the news off
@@saulgoodman2018 FDIC doesn't have enough money to insure all the money in the banks. But don't agree with everything said just pointing that out.
@@DavidRamseyIII best advice ever. Don't pay attention to the rampant inflation/printing. Banks have our best interests in mind always! Just trust blindly and go to sleep :)
@@saulgoodman2018 yeah they can just type the currency into existence out of nothing. If course you will get the nominal value because it's a soft default; the increase in currency supply chasing the same amount of stuff makes the stuff more expensive.
Greece?
I knew it was Britain, I just didn't which part.
he makes 120k+ in tampa. he should already be out of debt.
I have a feeling this will age well 🤡
Rip
Disagree, metal is not a bad investment
Id you lived in Russia a few weeks ago, your buddy would have given you great advice.
Pay attention to Canada and Russia. Your bank account can just be turned off as soon as you're out of favor.
The dollar is a joke. The best investment is black mail agaisnt a politician.
yes, but it's too much now. wait for prices to come down
Now is time to sell to all the sheep.
Gold has returned 7.78% since 1971 when the US went off the gold standard, beating out everything except for US equities which have returned around 10% over a 30 year average. If you're in it for the long haul gold can be a good investment.
So glad I did NOT listen to Ramsey and purchased precious metals from 2014-2018 which are now worth nearly double what I paid. (see my channel for inspiration)
Precious metals help make me feel like I’m winning when I ain’t.
What is wrong with buying Precious Metals as a hobby? I mean people collect cars, baseball cards, comic books. What's wrong with collecting Precious Metals. We can't because Dave said so?
He said that they want to buy a new house with the money and he has debt. That would be a gamble not a hobby in his current standing.
No one said anything about collecting precious metals as a hobby. This guy is asking if he should buy them for security reasons. Huge difference.
@nster Yes, because getting out of debt should be the first thing you do. Because the money that you pay off your debt with you could be investing.
"Hank, they're rocks."
"They're minerals Marie!"
You can do whatever you want.
Imagine someone believed Dave that banked at svb bank🤣😅🤣😅😅
Even if precious metals are really a hedge against inflation and a store of value you should not use it as an investment. I would argue that people shouldn't really be concerned with preserving their wealth. People should only be concerned about growing their wealth with assets that produce.
Why shouldn’t people try and preserve their wealth in this era of inflation?
@@jamesjodon7038 Simply because a good investment that makes a good and dependable rate of return fights inflation and deflation the best.
Preserving wealth is for losers when you can grow it so easily
@@edveras6215 true
this might be a stupid question, but what are some examples of assets that produce
did Ramsey just challenge to steal his checking account take 50k out of his banking account?
Nobody:
Dave: thats dumber than a rock
What if the rock is a diamond
@@Jajaky 🤷🏽♂️
Can we all appreciate that he uploads consistently? 💕
Someone manages the channel for him. 😅
Whoever does it, yes, I appreciate them 😁
These are clips of the show that his company uploads.
Yea but Dave is still working daily taking calls and doing the show when he doesn’t need to anymore
I just wish they would stream it live on UA-cam like they used to.
@@dananderson6334 that would be nice, you could stream the audio for free on podcasts
What about bank bail ins?
Cyprus 2012-13
Dave is a fanboy of the kleptocracy, bail-in laws will NEVER be mentioned by Dave.
Even crocodile Dundee can't get the wife on board. Dundee you missed the move on commodities.
anyone jumping into metals now are the same that bought GME when it kicked off
You think he was Australian? lol
I no longer watch Tv after finding you sir !
Lead is good protection
Just because its a "theory" doesn't mean its not valid.
Bank of America is approved for doing bail-ins
With inflation Dave. The price of silver is inevitably going north. If you want to keep your buying power then having 50k in physical silver or gold is a solid investment and hedge against hyper inflation. If minimum wage goes up to 20 dollars an hour than the price of silver will adjust. Meaning your 50k would adjust. I think silver is one of the best stores of value and tool during inflation periods like right now. Buy 2000 oz at 50,000and when our dollar has lost more of its value you’ll find you’ll have 85k -100k and you’ll be happy that your money was not in the depreciating dollar but in the appreciating asset that’s so old it’s talked about in the Bible. You shouldn’t have all of your money in silver and gold but I’ll say it’s smarter 10 fold over a savings account.
There are those, who are investing in lead, copper and gun cotton too! Those when combined in the right way can be quite profitable!
r/AgedLikeMilk 🤣🤣🤣
Everyone should have at least 10% of their net worth in physical previous metals that they hold and one month of cash in a safe.
Agreed! Look at Russia, everyone ran to the bank and the bank said we don’t have any money. That can happen anywhere! Banks only keep a small amount of deposits in cash.
Could some of you saying to hold physical precious metals explain how that's going to help you in a SHTF situation? I mean, its not like you can shave off a few grams of it at the grocery store for food.
@@scarpfish You can in Venezuela and Zimbabwe.
@@FlyingHighInAC where literally none of us live great rebuttal
@@scarpfish Yes you can. The purchasing power of precious metals has remained steady for all of mankind's existence. This will be true as long as humans are here. This is not the case for the dollar. The average lifespan of a fiat currency is 35 years.
I just paused to say, he ain't gonna like Dave's answer. "Unpause"
This guy is a Brit! 🇬🇧👍🏻 I’m also a Brit living in Florida too! And a big fan off Dave Ramsey!
Sounds Irish to me.
How do you find life living across the pond? Fellow Brit, who has considered looking to broaden the horizons. Especially in the IT field, many places to work abroad.
He sounds Scottish, which is still British since Scotland is on the isle of Britain. He sounds just like Ewan McGregor's regular speaking voice.
@@ryankelsey9646 ahhh Scottish. Thanks. And the British Isles. Ok the whole thing has confused me ever since things over there became the United Kingdom I don’t know who to call British anymore if anyone hahaha. Thanks 🙏🏻
Yeah I thought he was Scottish, I’m welsh I should know lol
You need to have physical foam of the medals not a certificate!
what is a physical foam
For security, i would go all into tesla / amazon myself
That will go over well when the truth about Elon comes out and Lizzie Holmes misdeeds look like a petty shoplifting case by comparison.
Also don't foget to make sure you put premium blinker fluid in your car too, not the cheap stuff 🤣
Freddie Freeman to LA!!! Go Dodgers!
Who's here from WSS?
Yes
CONSPIRACY FACTS
Never seen dave so ready to push the mute button!
What’s your household income $120… MUTE
Could tell that he was losing his patience with him
He knew it was a b.s. call prank or not.
he didn't want to hear that accent anymore.
😂😂😂
I hope Dave Ramsey is wrong
Plastic better, gas cans with stable.
Dave is way off on this one.
I think so too. It surprised me to say the least.
Yeah. Go get real money. Go get gods money and leave this fake fiat dollar
So this guy is comfortable with you putting your money in stocks or real estate which can crash just like anything else? But he has an issue with precious metals that have always had value since the beginning of time, banks back up their money with it, and the price goes up and down just like stocks? What a 🤡
Dave’s answered this before. He’s also not perfect. If your home is paid off, you have a fully funded food bank, and your 401k is set, then start dumping into precious metals that you can hold.
Lol so you can make no money compared to investing in a simple index fund or real estate?
@@powwow1194 bullion is not an investment. It’s a savings account that acts independently of inflation to the US dollar with less liquidity than numbers on a screen so you’re less tempted to do stupid
Agreed
Precious metals is a good thing to have just to hedge against inflation. But no more then 10 percent of your net worth.
Go ahead and lose your money if you want.
Dave was extreme rude.
You would be annoyed too if you answered the same stupid questions all day every day
Protect it? Protect it from what? LOL
The collapse of the dollar. Are you living in a hole?
@@melanieb2132 When is the dollar going to collapse?
@@websterhays8352
All day every day.
The dollar has been steady falling for 100+ years.
@@fredsanford1437 The dollar is a currency, not an investment.
@@websterhays8352
Correct, USD is a currency (a collapsing currency)
That is what the caller wanted protection from, currency collapse.
Dave, of course, discourages people from exiting the banking kleptocracy that made him so wealthy.
I'm already debt free, but not wealthy, Dave gives such bad advice on this topic
yup
40 St Gaudens in 1908 got you a shiny new Model T family car. 40 St Gaudens today get you a real nice Tesla.
Take a guess where this guy is from. I guess England.
Close. He's from Scotland.
Does he sound English? No!
@@sXePunkV2 I had no idea, I'm sorry.
Northern England
@@danielroberts6212 No way. Nothing like a Northern English accent. Scotsman.
I think that Dave is a little bit too full of himself and is unwilling to make any adjustments to his views and some people who look up to him may suffer for it when the next crash and reset occurs.
This guy has his head so far up his butt that I think he may need to think about coming up for air. The fiat dollar is crashing metals will sour and his the one thing that can guarantee your financial safety in a time of real crisis is precious metals. And Dave you might want to prepare yourself for losing your money in the stock market. This is only my opinion.
Avoid debt. Cut cost. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. I have purchased growth stocks this past few weeks. I'm going to sit back and observe how this plays out, adding more at a time. My investment strategy with my F,A Rita Wildrin Mora gives me the best returns even during recessions. Its been a year of steady growth.
Truly Stocks, ETFs and Mutual funds are the best investment decision you can make both short term and long term for steady money flow. Kudos
Pretty impressive, I have been on the wrong side for far too long and I'm willing to make consultations to improve my portfolio. Can she help me?
@@jaynaparker8874 I just looked up the FA out of curiosity, surprisingly she seems really proficient. I wrote her and I'm waiting on her reply.
When Dave says something is a conspiracy theory, he has a point.
Huh? No.
Dave LOVES fiat banking and deters anyone who wants to escape the kleptocracy.
@@b-rad-3849
Correct, and one of Dave’s co hosts recently told a caller to deal with that imaginary inflation by “eating less food and intermittent fasting”
They’re telling their flock to starve themselves but NEVER revolt against the system that made THEM incredibly wealthy
This isn't 1834. Any FDIC insured bank in America is about the safest place on Earth to put your money.
thats funny, did you go to school?
with 15% real inflation I don't think it's that safe.
Your money may still be there... but the purchasing powers sure won’t.
until they aren't.
🤣🤣🤣🤣🤣
Put it in Cryptos not metals