Buying silver and gold is simple and well-known for its stability, especially during tough economic times. However, the real challenge comes with investing in stocks, dividends, and cryptocurrencies to grow your portfolio. I’ve been working to grow my $190K portfolio for a while, but my biggest hurdle is figuring out the best entry and exit strategies. I would really appreciate any suggestions.
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with "Rebecca Nassar Dunne” for years and highly recommend her See if she meets your criteria.
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with "Rebecca Nassar Dunne” for years and highly recommend her See if she meets your criteria.
The only issue is that you'll never get your money back from that Silver due to shops paying low in order to resell for profit. It'll be even harder if it's Silver Rounds, and not Premium Silver Coins, but with premium you're already paying way too much. I found that I make more selling .925 Silver jewelry over Silver coins. It's way more profitable in jewelry form. Even brass plated jewelry will land you more money back than Silver coins. However I'm not against Silver Stacking, as I'm 100% silver myself. This is from my experience speaking.
Yup..but I like uranium investment because it is carbon free energy compared to nat gas and coal. Its in a bear market. Invest at your own risk. But i like Energy Fuels UUUU. Dominant producer in u.s.
Dpp 1235... Buying gold and silver makes sense if you live in a small nation with an unstable currency, but not here in USA. Maybe Argentina, Mexico or Venenzuela, but first world currencies are always stable.
Hi Dave, I'd love to come on your show to talk about precious metals if you are interested in having me as a guest. I'll send a message to your office with contact details.
Dave Ramsey loves giving advice to keep people poor. Successful people who are capable of critical thinking are not his demographic. Gold is up 20% since last year alone. He’s a dumbass
Considering the current market uncertainty, it seems prudent to invest in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I recognize the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
I don't buy gold to make money. I buy gold to be protected against the deflation of the paper money. Gold doesn't loose it's value like the paper money.
...a dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998, be worth just 78 cents. The phrase, “as good as gold” can be misleading as the phrase “money in the bank”, when talking about the long run. Thomas Sowell, Basic Economics (2007)
@@harrisonwintergreen1147 Nope! A a dollar invested in stocks in 1801 would probably be worthless. 99% of all companies in 1801 went bankrupt. The fallacy that stocks return 9% over a long period of time, is because people use todays existing stocks and then artificially go backwards. They dont grab a group of stocks as they were back then and then find out which company still exists. In the real world, you buy stocks, and then see what happens to your stock/company after 200 years go by. The best buggy whip companies in 1801 are now worthless.
my question is gold is not a good investment then why do central banks horde it? gold does not have built in inflation so if gold can not be created wouldn't scarcity determine the value?
He rather paper... a worthless piece of paper 😂 It’s extremely ignorant to be saying what he’s saying in this video... wow! Gold and Diamonds will always hold its value until the end of time!!! Dave really?! lol
I’m not sure if he pledged allegiance to fiat. He is just saying there’s better investment vehicles out there, if you are chasing a rate of return. In fact, his point about Saddam bucks and Confederate dollars indicates his skepticism of paper money.
@@wearewarriorseaglesjaguars6342 _Objectively_ speaking, gold is not much more valuable than paper. The reason why gold has historically been used in currencies is because it is relatively rare and it doesn't rust; the gold bar you buy and put in storage isn't going to slowly deteriorate in weight over time. But in the end, it's still a hunk of rock. Strictly speaking, the only thing with objectively value "until the end of time" is food and clean water. If the global economy sinks and people are going hungry, I'd take a loaf of bread and bottle of water over a bar of gold. And so would everyone else. And therefore, you wouldn't be able to trade your gold for anything.
I love Dave but 2% rate of return after 50 years? No. 1969 - $296 (as of writing) 2019 - $1580 = 10.6% rate of return and gold is oldest money dating back to 5000 BC
Dave Ramsey gives advice on what the “system” wants you to do, not what you really should do. Gold is real money, not fake currency. Everyone should own some precious metals as insurance.
You are not smart. Gold is real money? That’s advertising and not reality. Test your real money theory, take a gold coin to the grocery store and tell me how much bread you can buy. Second thought, if gold is real money and fiat is fake, why do bullion dealers exchange your paper money for their gold ??
Here are the facts: Gold in 1966 (50 years ago) was worth $35.13/oz, today its $1,255. Adjusting for inflation, $35.13 in 1966 is about $257.00 today. So that would be a return of 488%! thats in addition to saving you from inflation. Not adjusting for inflation, thats 3580%
+ReviewOutdoorGear LOL. In 1916 gold was $460. So what happened b/t 1916 and 1966? 40 years gives you a +90% loss on your investment. Show me a market index fund that posted those kind of poor returns over ANY 40 year period. The take away here folks is people will quote prices from a start and end but careful to choose those endpoints that satisfy their point. I challenge you to take a look 5-10 years prior to and after your chosen end points and see if you still like it as a LONG term investment.
ReviewOutdoorGear Dave Ramsey doesn't know much about commodities as his interests suggests. His return numbers are wrong but he is right about it's long-term investing prospects. Commodities can be bought in the midst of big moves to capture the inflation hedges but overtime gold and other instruments cannot avoid inflation rates much. Thanks.
If we learn from history we would realize that every single economy's fiat currency in history has failed...When you have "money" you can produce yourself at some point we make too much and devalue it, thats why many of these comments disagree because gold and silver have had value since the beginning of its discovery but every single type of money humans have made has eventually failed when that economy failed...I agree it wont get you rich quick unless you have some luck and a ton of money to invest but it IS a great insurance to cover your bases and round out your "investments" If you follow Dave and do everything right and make a million bucks but by the time you do the US goes under your stuck with a lot of useless pieces of paper no other country will care about, but that dumb gold and silver will still have value all over the globe :) You can count on precious metals retaining value forever because you can always count on peoples greed...
Shrinidhi Ghatpande until we have the ability to atomize gold by converting universe space and energy into gold atoms, gold is a finite limited resource that can at some point be mined out.
Thus leaving you with much more to profit from with it, Because it cannot be duplicated means the world can run low of it and that's when you'll come in to cash in on the precious treasures you behold.
He is an excellent entertainer. And LeBron James is an excellent basketball player. If you want an excellent entertainer, look to Dave Ramsey; if you want an excellent basketball player, look to LeBron James. Um... don't take financial advice from either, because that's not their skill set.
*WHOEVER THAT'S READING THIS , I PRAY THAT ONE DAY YOU WILL REACH YOUR DREAMS.* *ALWAYS KNOW THAT THE SECRET OF YOUR FUTURE IS HIDDEN IN YOUR DAILY ROUTINE. SUCCESSFUL PEOPLE DO DAILY WHAT THE UNSUCCESSFUL DO ONLY ON OCCASIONALLY.*That's why the rich invest and the poor don't.*
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I have always agreed with Dave’s advice but in this instance I would disagree, I think he’s too quick to write this option off. I wouldn’t invest all my money into precious metals but I feel it’s important to diversify your currency, and precious metals are a great defense against inflation! You can’t always expect the fiat currency to have value but precious metals will always maintain some value all around the world, they have since the beginning of history.
@@nathanhearn8914 doubled their money or hedged it against inflation? That means inflation doubled and the dollar lost half its value. It's an insurance.
It's not completely bad advice. The question was about investing in gold. Gold doesn't raise in value very much so it's a poor investment. Putting your money in gold or silver is more an insurance policy. If you have 100k in gold and the country falls and is replaced with a new country, you can trade in the gold for whatever currency the new government uses. It didn't really raise in value, it just protected an asset from worst case scenario.
Hey Dave! Explain then why central banks all over the world are storing tons of gold if it's worthless. Gold does not require a return because it's real money.
Because they know that there are people like you who will be dumb enough to buy it when they decide to sell. It's the aptly named "Greater Fool" theory.
Because the banks are literally making their profits off fools like you worried about fiat currency unknowing doubling the banks income at the same time lol
Hey, take your gold to the gas station and tell me how much gas it buys ok. I mean it’s real money right? This gold real money saying came from people who sell gold for fiat currency. Feel duped yet?
Dave has good and bad points. What he should say is he believes other investments if you pick a good real estate or good mutual funds/ETF's will perform better in the long term over gold/silver but there is nothing wrong in diversifying some of your portfolio in gold/silver. There are good returns available on gold/silver if you hold and then look for spike rises. Also in economic recession if someone needs to raise cash and they can not sell their real estate as value is down or difficult to sell and their mutual funds are seriously down (so not wanting to sell to take a large loss) then been able to sell some gold/silver at high price gives you a great option. Simple advice, have a small allocation 5-10% of gold/silver in your portfolio.
+Ming Y I bought gold for the reason that I am a coin collector of uncirculated gold coins. It was just pure luck that I bought the coins back in 1998 when gold was $290 per ounce. It was also pure luck when I started in the stock market back in 1982 when I poured my life savings in the market when the DOW was about 880. But, the DOW was also around 880 back in 1969. So timing (pure luck) can make any investor look like a genius.
My friend! In response to your question it's not a matter of if the dollar collapses but a matter of when the dollar collapses what I can say is that the value of gold will be extremely higher than the dollars because the dollar will be worthless.
If I purchased an item for $255 in 1968, then that same item would cost $2,232.23 in today's dollars. If Gold was that item, it would have lost just under $200 per ounce in that $50 years. Congrats, you almost stored value. Look at the S&P over that time period
It's track record compared to stock indexes is still worse. Gold was selling for about $2000 10 years ago, and today it is selling for around $2000. If you invested in stocks, your money would have more than doubled in that time period. It is also volatile like the stock market, so it isn't "safe". If you are a "the sky is falling" type investor, just stick with CDs or Government bonds.
Right but you have to factor in inflation of the dollar. 255 dollars back then is worth more than 2550 dollars now. (The real inflation is actually much higher than what theyre reporting.) The dollar has lost a ton of value. Especially in the last 4 years. Also I'm just gonna throw this out there... Fjb!
Iran, Iraq; Gold is a good thing to buy, gold is a bad thing to buy; tomato, tomahto; heck, did I mention I make all of my money from being an entertainer on the radio, not from actually investing?
TheTurk56523 not good choice. You may protect some assets with It if a financial apocalypse should ever happen but currently, You are not making any money with It.
Gold and Silver is better to use as a form of SAVINGS (not investment unless it's numismatic coins) and to protect your purchasing power due to the currency constantly being devalued. Since 1971 (last year of the gold standard), Gold has out-performed our currency and the stock market when you factor in inflation. More currency (dollars) continues to be printed because we are using a debt-based monetary system. So the more dollars in circulation, the less value they have over time as the value becomes diluted when there are too many dollars coupled with the currency velocity (spending activity in the economy). If anyone would have saved in gold since 1971 (or since 1913, beginning of the FED), they would have more wealth today than if they had saved the same original amount in dollars. We would not have to worry about our currency become devalued like today if we operated on a gold standard. To make the gold standard work, we would need to adjust the value of dollar relative to gold in order to account for all the currency in circulation by the FED. Gold is the reason people were confident in currency in the past. Keynesian economics will not work as long as our monetary system is based on debt. People lose confidence in the dollar when the government become desperate and goes broke, as the US is heading today. Each dollar represents a claim check on an IOU as opposed to a claim check on gold. The intrinsic value of the dollar is ZERO and continues to head closer to zero with each passing day. Gold, on the other hand, hedges against the devaluation of a currency, which is precisely why it is important to maintain at least 5-10% of your portfolio in gold and silver, too. Silver is more undervalued compared to gold, so it is good to have a mix of both, especially now. Every government that has used paper currency since the 11th century (the first time when China experimented with paper currency), the value of the currency has ALWAYS returned to its intrinsic value, which is ZERO. With all due respect to Dave Ramsey, he could not be more wrong about Gold/silver. I sleep better at night knowing that I have protected my wealth with something of real value that I can hold in my hand and that cannot be seized by banks. The only thing banks can do is manipulate the price through the COMEX, which is a scheme that has been ongoing for a long time. Once banks are no longer able to maintain that scheme due to lack of physical metal as they sell it off and investors demand it, then expect gold/silver to sky rocket to their true value based on the amount of excessive currency in circulation.
I would use precious metals for storing value, as a safeguard against serious fluctuations in fiat currency and/or stock market. I wouldn't expect it to grow value. Growth is great when possible, but loss is always the flip side of that coin.
And would like to add; against the possibility, a bank or brokerage firm goes bankrupt and you never get your money back. I don't think this is far-fetched.
He has real estate. That's better than gold, as long as you have a government that respects private property. But if you don't like the government, don't use their money
@@X9523-z3vUntil there's a housing crash. Then you're selling at a massive loss. Or when housing prices get too high. Then Noone can afford to buy that house you have and it will never sell. All I can say is things are getting so bad right now that there's really not any right answers.
But you had 80,000 dollars cash vs 80,000 in gold sitting in your bank, and the dollar crashes, then you've lost all of your cash, if it's in gold or silver, the metal goes through the roof and you've made money. If a state creates it's own currency, i'm sure that there won't be a way that your U.S. dollars sitting in your account would be converted to a new state issued currency, or would they? If not, then how is owning gold or silver a bad idea?
John Smith they probably wont convert. And you lose everything. But if you have gold you can always transfer to that new currency. Not owning gold and to lesser degree silver is a horrible idea, and your priming yourself to a horrifing wake up call.
Its worthless. How are you going to cash it in ? Bank wont take it. People ? its too late whos going to buy your gold ? Its too late after the collapse. Just like real estate after the big rise whos going to buy after saturated ? The point im making is that you have to sell your gold before an economic collapse but the problem is it dosent gain value. Lets say you buy now and it does gain value before the collapse why should i buy from you and not from Mike Baloney or other trusted web sites ? I think your better of owning gold or silver in Etf's that way you can cash it in to the bank after the collapse to new money or whatever.
dstblj 52 and yet it’s maintained its value for thousands of years while modern paper money has had unsustainable inflation with no end in sight in the last 100
dstblj 52 let’s see, egypt, greece, rome, persia, mongolia, france several times over, britain, spain, germany, japan... Name one Empire and one Dollar that hasn’t eventually failed. I’ll wait. meanwhile if you labored in egypt and we’re paid in gold, you held your wealth and could convert it to any empires currency and survive.
Gold is just another fiat. If you want insurance . Own a house , guns , medical supplies and invest in yourself to be highly skillled no matter what country you are in
Frost Gold is a fiat . It only works if the person using it can trade it for something else as we’ll . If only a few people in the world owned Gold, how can it be used in a economy . At the very most it can be used to make a product but now you’re talking of a large amounts of gold and silver .... truck loads
2% return? If i go back 50 years gold was $254.48 and today it is $1260. That is almost a 500% increase. You may know how to get out of debt but i don't trust your advice on this topic.
That's not how compound interest works. P(1+i)^N is the formula. The actual return given the numbers you used, assuming annual compounding is 3.25%. Over 50 years, 3.25% compounded annually turns $254.48 to $1260. For comparison, the average stock market return over that period is around 7%, which turns $254.48 into $7496.
Given the current market uncertainty, it seems wise to consider investing in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I understand the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.
This is really bad advice. Dave's other advice, to get out of debt and to use cash instead of credit - that's good advice. But not this, not now. Gold is not an investment (in the sense that it doesn't have 'cash-flow'), but it is a great store of value. In other words, gold is a way to save money. Saving dollars is a way to lose money due to real inflation and the devaluing of the dollar. For more information read the book "Currency Wars" by James Rickards and balance Dave Ramsey by listening to the advice of Robert Kiyosaki on The Rich Dad Radio Show.
...a dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998, be worth just 78 cents. The phrase, “as good as gold” can be misleading as the phrase “money in the bank”, when talking about the long run. Thomas Sowell, Basic Economics (2007)
harrison wintergreen It’s about diversification, having some money tied up in gold is a good idea simply to spread out your money and have some future proof money in reserve. Obviously don’t own your life savings in gold, or in any other one thing.
Fifty years ago gold was $35. an ounce in USD. Today it is closing on $1500. When I was a teenager, I could buy a gallon of gas with a silver quarter. I still can.
And in 2014 gold was selling for $2000, and I remember all the goldbugs said the price would continue to soar. Today gold is selling for around $2000. If you had invested in stock indexes your money would have more than doubled. Gold is a risky investment, with returns worse than any stock indexes over time. It preys on the paranoid.
And the inflation adjusted performance of the s&p 500 was 7.8% now we just need to know the inflation rate over 50 years to see how much gold got spanked
i get that Dave has a different historical back-ground - but comming from Middle Europe I can state that there was not a 100 years were paper money did not lose all of its worth (in fact often it was much more frequent), and also it is true that immediately after e.g. the 2nd world war the intermediate government printed money but it was literally inflating by the hour - you could not buy anything with it -> from my grandparents I know that the best tradiing goods were: food later on also alcohol and cigarretes and later on gold and silver -> which had an enormous buying power for a while. So maybe it is more a psychological thing -> but my emergency fund will always be mostly gold and some silver
Dave is partially correct but it's fair to say he doesn't fully understand gold. While it is true that gold isn't a good investment, that's like saying holding cash isn't a good investment - because gold (like cash) is a form of money. It serves a purpose better than just about anything else - storing wealth. When there is a devaluation or currency crash those who have some gold won't have lost their purchasing power. Dave could recommend that his followers hold some gold bullion as a portion of their emergency fund. It has a lot of advantages for this purpose. It can be quickly cashed in but it's not something you can just spend on impulse. It can also provide some protection during a major economic event.
Holding cash is not an investment. You completely misunderstood the premise of this question. The guy asked him about investing not hedging against inflation in preparation for an economic collapse.
You need an asset (real estate, stocks, art collection, etc) that can be exchanged for the new currency. If the new regime is nice, they might allow you to exchange your paper money, but how often is that the case?
Gold and silver has kept its value since the Roman times. As we all know it's been replaced with paper money which holds absolutely no intrinsic value. I do agree that you cannot rely solely on precious metals as an investment, but it is about diversifying your financial resources. And having investments and gold and silver can never be a bad idea, it just can't be your only idea.
It's not an investment at all for the long run, because it doesn't generate income or grow. Businesses grow and generate income. Real estate generates income. The income they generate exceeds inflation. Real estate has also kept its value since WAY before the Roman times. You know what else it has done? Generate an income!
Kept its value? Hmm silver all time high was 50 in 1980. What’s it at now? Kept value ? Again , stop listening to the people who sell you silver and gold
Gold protects your wealth but it won’t create it. Dave is too bearish on gold. It’s certainly okay to have some gold and precious metals in your portfolio
Agreed. Most precious metals investors (i dont like the term investor or investment) and financial planning companies recommend something like 15% of your portfolio being built onto metals. Something like that i believe. I don't think hes really factoring in things like industrial use of the metals, especially platinum and palladium in regards to the automotive industry and tightening pollution restrictions. I on the other hand just think its cool to have my own personal treasure chest 😂😂😂. A little something for my kids in the future.
Dave says (I'm paraphrasing) "no time in history have we ever used gold and silver." ALL money was gold and silver before we printed mass amounts of paper money. And as a little side note, Saddam's money system used Silver and Gold coin. Then it was replaced by debt based paper money. Another side note on the civil war comment he made: The reason people used union dollars was because war creates debt and the union was in debt and had to use IOUs and due to people hording silver and gold, there was a shortage of hard money (silver and gold). The U.S. government used paper money to jump start the economy. The US used gold coins as money up to 1933 almost 70 years after the civil war, and used silver coins up 1964 almost 100 years after the civil war. I'n not a follower of Dave but I'm giving him a try. I already do many of the things he suggests, but mu knowledge of money history is giving me red flags about this guy. How many other things is he wrong about and why is he so arrogant about his opinion on gold and silver? As a Christian, I would never display this type of blatant arrogance and I would never pretend to know a subject and offer advice about it. He seems to refuse to learn about it. Very arrogant.
Yes. Dave is entertaining and knows his stuff... then there’s these two random gold/silver call-in in UA-cam that are very PM negative. Dave doesn’t ask his cash levels, his debt, income, etc. I agree, this approach and bizzaro rambling commentary that is totally flat wrong; furthermore, given is whole moral high ground talk, this calls into question his moral compass on liberty and freedom. Only gold and silver is ‘real’ money, comparing paper Iran/Iraq or USD to oranges is just closed minded.
In an episode of Little House on the Prairie, the Ingalls are told they'll be rich because a distant relative has left them a fortune. The problem was the "fortune" was confederate money. That's the first time I heard of a dead currency that has no value. I felt so bad for Charles because Mrs. Oleson had convinced him to buy things on credit so he was broke! Charles only agreed because of the money he thought was coming his way.
There was another episode where they found gold, it was worth $20/ounce back then and the time period is right around after the civil war. So Dave must have corn on the cob for brains on this issue because if you lost paper money but had gold and silver, it was still worth the new money.
Gold and silver were never at a 1 to 1 ratio. Never. Historically, it used to be about 15 ounces of silver to one ounce of gold, but those days seem to be long gone. Silver just isn't viewed as a monetary metal anymore.
Everything said is talking about actual physical metal you can hold in your hand: At worst gold/silver is the best storage of wealth. Especially when you believe a bunch of bubbles are about to burst. Should you put all of your extra money into gold/silver? Not unless you think the government will cause hyperinflation. Should you put some of your extra cash into precious medals? Yes. You can think of it as an insurance plan. because unlike all of your other investments gold and silver actually do better during a recession. They keep up with and do better then inflation.. Cash it in when times are bad for a profit. The best true emergency fund Currency can buy. Gold and Silver: the only true form of money.
Price of gold nearly doubled since this video aired (2016) so you would have litterally DOUBLED your money if you invested in gold at the time of this video. 2016- average closing price was $1,251 per oz and in 2024 the current price is $2662 per oz so yes you should have invested.
Nope. They pretty much used the South African Rand. If you had gold (or anything else), you sold it for Rand (or dollars) and used that to buy bread. I lived in Peru during hyperinflation. No-one used gold or silver. No-one. We used Peruvian Inti, but traded them daily (sometimes hourly) for US dollars -- there were money traders on every street corner in Lima. I would go out to dinner, but would only change my dollars for Inti after I got the bill -- because there could be a 10% drop during dinner. But no-one used gold or silver. Ever.
I REALLY needed to hear THIS! I had a guy badgering me after JUST inquiring about gold. He was a representative from one of this advertised "INVEST IN GOLD AND SILVER", 😲, companies. There are many hidden cost in those companies.😠
Don't take advice from Dave on gold/silver. It is far more nuanced than Dave thinks. Right now with the Fed rates poised to drop, gold is attractive. Later on in the cycle when economy comes back and rates go up, time to get out.
Dave, you don't know the gold market is highly manipulated and this will end soon? Nothing will be left standing when the markets crash and burn except gold and silver. Of course they have not performed well lately. This is why.
I believe everyone should invest 20 percent or more of their income on gold or silver. Its a forced savings for me and if I don't need it later on, my stack will be passed on.
Everyone needs to watch the Hidden Secrets of Money series by Mike Maloney. Regardless of your stance on Gold and Silver. Go own dollars and watch them get devalued. The government prints the currency and the banks enter the digital currency into their systems. Meanwhile, you are on the hook for the debt. Prices rise and your 'money' the dollar pays for less. Dave Ramsey mentions many times what his stance is on how responsible the government is with 'Money' Then why not have some gold and silver as a preservation of your hard earned time and labor. Currency=the US Dollar is not a preservation on your hard earned work. Then why is everything suppose to be great with the economy and there are a lot of us who know by our current situations that we haven't seen much of an improvement since 2008. It's because the government and banks are creating currency and the end result is that all these prices will continue to go up.
Thanks for the insights! Just a question on a different topic: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How can I send them to Binance?
Dave, maybe you should look at the current economic situation. You can keep your currency. You do have other good advice. You make millions on your show. You probably have nothing to worry about.
@@Kane6676he covered it but left out the fact that if you owned the failed currency you just lose everything. If you own gold, you can trade it for the new currency and keep all the purchasing power you had.
If they figure out how to create metal out of nothing then it’s a bad investment, until then it’s a good investment because it will store your money’s value.
I love when someone provides the best evidence for something when trying to argue against it. Having gold would be infinitely better in both scenarios than leaving your money in cash if you were in the confederate states or Iraq. You would be able to exchange gold for whatever the new currency is that replaces the old currency. Both the stock market and real estate are tied directly to the country's currency. So, if a tough economic time happens you will not be able to cash out or leave to another country that is not affected. Gold is essentially a hedge and preservation against your country's currency, if it were to decline in value or crash/die completely. Some other alternate assets also have that power, but none are as liquid as gold.
This is absolutely wrong and bad advice google gold price history you’ll see it was less then $100/oz 50 years ago and today as I’m typing this message it’s at $14250/oz how on earth is that 2% you don’t need to be a genius to do the math here , gold is the best long term investment that’s why banks hold it in tons enough said .
cbzombiequeen58 also the year that people made their millions . 2008 recession lasted 14months. The economy rebounded in 2010 and people who kept their money in the stock market are millionaires now . It’s about riding out the tough waves. Patience is key
Buying precious metals is not about making money, it's about keeping money.
Why would you want to keep money when you could make money?
@@eane7238 😂😂😂😂
Going to be hard making money when bonds and stocks drop and inflation eats away at purchasing power. I guess you could short everything to make money
@@rrrrramone who said stocks are going to drop? They haven't over any given 5-year time period since your great grandfather was born.
@@eane7238 because making money is risky
Buying silver and gold is simple and well-known for its stability, especially during tough economic times. However, the real challenge comes with investing in stocks, dividends, and cryptocurrencies to grow your portfolio. I’ve been working to grow my $190K portfolio for a while, but my biggest hurdle is figuring out the best entry and exit strategies. I would really appreciate any suggestions.
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
Could you kindly elaborate on the advisor's background and qualifications?
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with "Rebecca Nassar Dunne” for years and highly recommend her See if she meets your criteria.
I'm cautious about giving specific recommendations since everyone's situation varies, but l've worked with "Rebecca Nassar Dunne” for years and highly recommend her See if she meets your criteria.
I bought a large amount of silver two years ago at $14 per ounce, now its $26...its done well.
The only issue is that you'll never get your money back from that Silver due to shops paying low in order to resell for profit. It'll be even harder if it's Silver Rounds, and not Premium Silver Coins, but with premium you're already paying way too much. I found that I make more selling .925 Silver jewelry over Silver coins. It's way more profitable in jewelry form. Even brass plated jewelry will land you more money back than Silver coins. However I'm not against Silver Stacking, as I'm 100% silver myself. This is from my experience speaking.
I bought at 50 back in 2010 and not broke even yet. SP500 has 5x since then. Live and learn.
@@MisterUrbanWorld never get my money back...LOL
@@bobsilver3983 Silver is at $29-$30/oz. You won't get that when trying to resell the coins
View Gold and Silver as an insurance policy, not as an investment.
Please say it again to make sure everyone hears you! Safety net indeed during these times.
Yup..but I like uranium investment because it is carbon free energy compared to nat gas and coal. Its in a bear market. Invest at your own risk. But i like Energy Fuels UUUU. Dominant producer in u.s.
How's that working out for you? Gold dealers sell it for 25% more than they buy it. Suckers
Dpp 1235... Buying gold and silver makes sense if you live in a small nation with an unstable currency, but not here in USA. Maybe Argentina, Mexico or Venenzuela, but first world currencies are always stable.
Gavin Stutler diversification is just good sense, more of a safety net for yourself
Hi Dave, I'd love to come on your show to talk about precious metals if you are interested in having me as a guest. I'll send a message to your office with contact details.
I think many viewers would appreciate this discussion!
Wow! Mike Maloney!
GoldSilver (w/ Mike Maloney) ya I want to hear that interview Mike. I love your video series, the history of money.
I love Mike! Bump Bump Bump.
Do it dave! Very interested
Made a 32% return on silver I bought 14 months ago. Could have made more if I had waited a little longer. Thanks for nothing Ramsey!
I don't think you understand the concept of an investment.
@@alrbredwallhe doesn’t
Dave Ramsey loves giving advice to keep people poor. Successful people who are capable of critical thinking are not his demographic. Gold is up 20% since last year alone. He’s a dumbass
14 months… Wow, great track record! You really don’t understand anything he’s saying do you?
Considering the current market uncertainty, it seems prudent to invest in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I recognize the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
I don't buy gold to make money. I buy gold to be protected against the deflation of the paper money. Gold doesn't loose it's value like the paper money.
...a dollar invested in bonds in 1801 would be worth nearly a
thousand dollars by 1998, a dollar invested in stocks that same
year would be worth more than half a million dollars. All this is in
real terms, taking inflation into account. Meanwhile, a dollar invested
in gold in 1801 would by 1998, be worth just 78 cents. The phrase, “as
good as gold” can be misleading as the phrase
“money in the bank”, when talking about the long run.
Thomas Sowell, Basic Economics (2007)
Lose
Gold loses money more often than anything. Gold dealers are making a killing off you.
@@harrisonwintergreen1147 Nope! A a dollar invested in stocks in 1801 would probably be worthless. 99% of all companies in 1801 went bankrupt.
The fallacy that stocks return 9% over a long period of time, is because people use todays existing stocks and then artificially go backwards. They dont grab a group of stocks as they were back then and then find out which company still exists. In the real world, you buy stocks, and then see what happens to your stock/company after 200 years go by. The best buggy whip companies in 1801 are now worthless.
Gold grinder fiat currency will eventually fail
my question is gold is not a good investment then why do central banks horde it? gold does not have built in inflation so if gold can not be created wouldn't scarcity determine the value?
GOOD QUESTION SCIENCE LEARNING CENTER
Dave's arguments explain perfectly his ignorance on the subject as well as his allegiance to the fiat system.
Plus, he seems (?) to think Saddam Hussein was the leader of Iran.
He rather paper... a worthless piece of paper 😂 It’s extremely ignorant to be saying what he’s saying in this video... wow! Gold and Diamonds will always hold its value until the end of time!!! Dave really?! lol
I guess this guy is in love with the smell of his farts...
I’m not sure if he pledged allegiance to fiat. He is just saying there’s better investment vehicles out there, if you are chasing a rate of return. In fact, his point about Saddam bucks and Confederate dollars indicates his skepticism of paper money.
@@wearewarriorseaglesjaguars6342 _Objectively_ speaking, gold is not much more valuable than paper. The reason why gold has historically been used in currencies is because it is relatively rare and it doesn't rust; the gold bar you buy and put in storage isn't going to slowly deteriorate in weight over time. But in the end, it's still a hunk of rock. Strictly speaking, the only thing with objectively value "until the end of time" is food and clean water. If the global economy sinks and people are going hungry, I'd take a loaf of bread and bottle of water over a bar of gold. And so would everyone else. And therefore, you wouldn't be able to trade your gold for anything.
I am a 35 year old man who buys small amounts of precious metals because i think its cool to have my own treasure chest.
I am not ashamed 😂
Frost Walker, that's why I'm watch this!!!! Was going to buy silver bars from the mint. I figure it's an investment.
... Your treasure chest did pretty good today
Pirates treasure is cool.
Same
I'm 29 and do the exact same, Love my coins and bars of silver & gold.
it's hard to believe that someone who's supposed to know about finances doesn't know the difference between currency and money.
Right?! Lol
Snow Job. LOL
Gold is the currency of fear :)
I love Dave but 2% rate of return after 50 years? No. 1969 - $296 (as of writing) 2019 - $1580 = 10.6% rate of return and gold is oldest money dating back to 5000 BC
@@BradleyRMarion glad u posted that
Dave Ramsey gives advice on what the “system” wants you to do, not what you really should do. Gold is real money, not fake currency. Everyone should own some precious metals as insurance.
Yes as an insurance policy. Not as an investment.
And precious metals will never collapse as banks and stocks can. Just my opinion.
You are not smart. Gold is real money? That’s advertising and not reality. Test your real money theory, take a gold coin to the grocery store and tell me how much bread you can buy. Second thought, if gold is real money and fiat is fake, why do bullion dealers exchange your paper money for their gold ??
@@Kane6676 think again
ok, i give up. why?@@Kane6676
Here are the facts: Gold in 1966 (50 years ago) was worth $35.13/oz, today its $1,255. Adjusting for inflation, $35.13 in 1966 is about $257.00 today. So that would be a return of 488%! thats in addition to saving you from inflation. Not adjusting for inflation, thats 3580%
+ReviewOutdoorGear That's about a 7% rate of return. Decent, not amazing, and involves quite a lot of risk.
+ReviewOutdoorGear LOL. In 1916 gold was $460. So what happened b/t 1916 and 1966? 40 years gives you a +90% loss on your investment. Show me a market index fund that posted those kind of poor returns over ANY 40 year period.
The take away here folks is people will quote prices from a start and end but careful to choose those endpoints that satisfy their point. I challenge you to take a look 5-10 years prior to and after your chosen end points and see if you still like it as a LONG term investment.
glssmrbl i didn't look for any special endpoints, i just hear Dave say "50 years" and went and looked it up. Just reporting here.
ReviewOutdoorGear Dave Ramsey doesn't know much about commodities as his interests suggests. His return numbers are wrong but he is right about it's long-term investing prospects. Commodities can be bought in the midst of big moves to capture the inflation hedges but overtime gold and other instruments cannot avoid inflation rates much. Thanks.
glssmrbl fair enough. Blessings.
If we learn from history we would realize that every single economy's fiat currency in history has failed...When you have "money" you can produce yourself at some point we make too much and devalue it, thats why many of these comments disagree because gold and silver have had value since the beginning of its discovery but every single type of money humans have made has eventually failed when that economy failed...I agree it wont get you rich quick unless you have some luck and a ton of money to invest but it IS a great insurance to cover your bases and round out your "investments" If you follow Dave and do everything right and make a million bucks but by the time you do the US goes under your stuck with a lot of useless pieces of paper no other country will care about, but that dumb gold and silver will still have value all over the globe :) You can count on precious metals retaining value forever because you can always count on peoples greed...
My dude cutlerylover
@@TurkeyCreekjackjohnson_ :)
problem with gold and silver is that the government can't print it.
Thats the good thing actually
But mines and metal refiners can.
Shrinidhi Ghatpande
umm thats not how it works
Shrinidhi Ghatpande until we have the ability to atomize gold by converting universe space and energy into gold atoms, gold is a finite limited resource that can at some point be mined out.
Thus leaving you with much more to profit from with it, Because it cannot be duplicated means the world can run low of it and that's when you'll come in to cash in on the precious treasures you behold.
He is wrong on so many of his points. Don't trust his advice on this. Do your own research!
He is an excellent entertainer. And LeBron James is an excellent basketball player. If you want an excellent entertainer, look to Dave Ramsey; if you want an excellent basketball player, look to LeBron James. Um... don't take financial advice from either, because that's not their skill set.
Exactly !
*WHOEVER THAT'S READING THIS , I PRAY THAT ONE DAY YOU WILL REACH YOUR DREAMS.*
*ALWAYS KNOW THAT THE SECRET OF YOUR FUTURE IS HIDDEN IN YOUR DAILY ROUTINE. SUCCESSFUL PEOPLE DO DAILY WHAT THE UNSUCCESSFUL DO ONLY ON OCCASIONALLY.*That's why the rich invest and the poor don't.*
Most people remain poor only because friends and relatives discouraged and advised them against investing and trading forex while the wise ones kept investing and going higher financially
@@berwaldjane362 All you need now is a professional broker else you gonna continue blowing off your account
Investing all my saving with Expert Mr Walden Carlin has been the best decision that I have taken, when I met him in germany at a conference i invested 💶€25000💷 into forex with his broker and made back 💶€250341💷 in not less than 7days. You can try him also
@@hannahjoy3645 Wow!!!I’m just shocked you mentioned and recommended Mr Walden Carlin trading services, I thought people don’t know them..they are really awesome when it comes to forex trading and giving signals.
@@williamsdickson7991 Same here it’s been four months now i started investing with them and its been a good experience with them.
I have always agreed with Dave’s advice but in this instance I would disagree, I think he’s too quick to write this option off. I wouldn’t invest all my money into precious metals but I feel it’s important to diversify your currency, and precious metals are a great defense against inflation! You can’t always expect the fiat currency to have value but precious metals will always maintain some value all around the world, they have since the beginning of history.
Its to store money not make money.
Record inflation in 2022. Silver dropped by over 10 dollars an ounce. How is that keeping up with inflation
@@THEE-BLK-CONSERTIV this is such a dumb statement
Well here we are with highest inflation in history and silver has done nothing. So much for your theory
@@Kane6676yours is dumber. He's right, your wrong. Article 1 section 10 , USC, " only gold and silver are money". Fool.
Precious Metals are not investments. They are insurance.
Tell that to the people who almost doubled their money on silver this year
@@nathanhearn8914 doubled their money or hedged it against inflation? That means inflation doubled and the dollar lost half its value. It's an insurance.
@@sal2975 Sal Let me ask you what you think an investment is..... You're best description
@nathan hearn metals is wealth preservation and a investment while inflation is rapidly moving precious metals in increase before inflation
Amen
Um okay I know this is an old video but...........this is bad advice
Agreed
Word
Word this was weird
It's not completely bad advice. The question was about investing in gold. Gold doesn't raise in value very much so it's a poor investment. Putting your money in gold or silver is more an insurance policy. If you have 100k in gold and the country falls and is replaced with a new country, you can trade in the gold for whatever currency the new government uses. It didn't really raise in value, it just protected an asset from worst case scenario.
@@Sylvershade That's a great explanation Thanks
I think people who listened to him now regret a lot in 2020😞
Exactly
Now look at recession 2022 😱😱😱😱😱
@@watchnoface8770 it's going to get much worse in 2023 and 2024
@@rouano1 Other countries ditching us dollar 😱
Now watching 2023, every time i watch this video i buy more gold and silver 😅😅😅
Hey Dave!
Explain then why central banks all over the world are storing tons of gold if it's worthless.
Gold does not require a return because it's real money.
Because they know that there are people like you who will be dumb enough to buy it when they decide to sell. It's the aptly named "Greater Fool" theory.
Because the banks are literally making their profits off fools like you worried about fiat currency unknowing doubling the banks income at the same time lol
Hey, take your gold to the gas station and tell me how much gas it buys ok. I mean it’s real money right? This gold real money saying came from people who sell gold for fiat currency. Feel duped yet?
Dave has good and bad points. What he should say is he believes other investments if you pick a good real estate or good mutual funds/ETF's will perform better in the long term over gold/silver but there is nothing wrong in diversifying some of your portfolio in gold/silver. There are good returns available on gold/silver if you hold and then look for spike rises. Also in economic recession if someone needs to raise cash and they can not sell their real estate as value is down or difficult to sell and their mutual funds are seriously down (so not wanting to sell to take a large loss) then been able to sell some gold/silver at high price gives you a great option. Simple advice, have a small allocation 5-10% of gold/silver in your portfolio.
+Ming Y I bought gold for the reason that I am a coin collector of uncirculated gold coins. It was just pure luck that I bought the coins back in 1998 when gold was $290 per ounce. It was also pure luck when I started in the stock market back in 1982 when I poured my life savings in the market when the DOW was about 880. But, the DOW was also around 880 back in 1969. So timing (pure luck) can make any investor look like a genius.
Ah! Hello!
As JP Morgan said it best. Gold is money. Everything else is credit.
If the dollar collapses what is the value of gold?
My friend! In response to your question it's not a matter of if the dollar collapses but a matter of when the dollar collapses what I can say is that the value of gold will be extremely higher than the dollars because the dollar will be worthless.
@@reymondjames1726 Who cares? No one with a brain invests in gold.
Greiguci Wootchie I’ll buy all you have if it’s worthless.
Really?
That's why gold has gone up in value since 1913
dave is not good at math, in 1968 gold was $255.... 50 YEARS later price is $ 1230 thats a 700 % increase in your investment not a 2%
You have to adjust for inflation friend.
If I purchased an item for $255 in 1968, then that same item would cost $2,232.23 in today's dollars. If Gold was that item, it would have lost just under $200 per ounce in that $50 years. Congrats, you almost stored value.
Look at the S&P over that time period
It's track record compared to stock indexes is still worse. Gold was selling for about $2000 10 years ago, and today it is selling for around $2000. If you invested in stocks, your money would have more than doubled in that time period. It is also volatile like the stock market, so it isn't "safe". If you are a "the sky is falling" type investor, just stick with CDs or Government bonds.
@@jeff-ds2pryou can cherry pick tops and bottoms and compare percents from there, that’s total hogwash. Since 1970 both gold and SPX are up 6000%.
Right but you have to factor in inflation of the dollar. 255 dollars back then is worth more than 2550 dollars now. (The real inflation is actually much higher than what theyre reporting.) The dollar has lost a ton of value. Especially in the last 4 years.
Also I'm just gonna throw this out there...
Fjb!
In IRAN when Saddam fell? You mean IRAQ, Dave.
Iran, Iraq; Gold is a good thing to buy, gold is a bad thing to buy; tomato, tomahto; heck, did I mention I make all of my money from being an entertainer on the radio, not from actually investing?
Advice noted..........I will stick with my precious metals investments.
Enjoy the rate of return brother.
+TheTurk56523 Good luck. Youll need it.
Your gold and silver holdings won't help you when Planet Nibiru collides into the Earth.
You are making the right decision. The next bull run will be like how Bitcoin performed. Gold and silver is near a bottom. Buy low, sell high.
TheTurk56523 not good choice. You may protect some assets with It if a financial apocalypse should ever happen but currently, You are not making any money with It.
Gold and Silver is better to use as a form of SAVINGS (not investment unless it's numismatic coins) and to protect your purchasing power due to the currency constantly being devalued. Since 1971 (last year of the gold standard), Gold has out-performed our currency and the stock market when you factor in inflation. More currency (dollars) continues to be printed because we are using a debt-based monetary system. So the more dollars in circulation, the less value they have over time as the value becomes diluted when there are too many dollars coupled with the currency velocity (spending activity in the economy). If anyone would have saved in gold since 1971 (or since 1913, beginning of the FED), they would have more wealth today than if they had saved the same original amount in dollars. We would not have to worry about our currency become devalued like today if we operated on a gold standard. To make the gold standard work, we would need to adjust the value of dollar relative to gold in order to account for all the currency in circulation by the FED. Gold is the reason people were confident in currency in the past. Keynesian economics will not work as long as our monetary system is based on debt. People lose confidence in the dollar when the government become desperate and goes broke, as the US is heading today. Each dollar represents a claim check on an IOU as opposed to a claim check on gold. The intrinsic value of the dollar is ZERO and continues to head closer to zero with each passing day. Gold, on the other hand, hedges against the devaluation of a currency, which is precisely why it is important to maintain at least 5-10% of your portfolio in gold and silver, too. Silver is more undervalued compared to gold, so it is good to have a mix of both, especially now. Every government that has used paper currency since the 11th century (the first time when China experimented with paper currency), the value of the currency has ALWAYS returned to its intrinsic value, which is ZERO. With all due respect to Dave Ramsey, he could not be more wrong about Gold/silver. I sleep better at night knowing that I have protected my wealth with something of real value that I can hold in my hand and that cannot be seized by banks. The only thing banks can do is manipulate the price through the COMEX, which is a scheme that has been ongoing for a long time. Once banks are no longer able to maintain that scheme due to lack of physical metal as they sell it off and investors demand it, then expect gold/silver to sky rocket to their true value based on the amount of excessive currency in circulation.
I would use precious metals for storing value, as a safeguard against serious fluctuations in fiat currency and/or stock market. I wouldn't expect it to grow value. Growth is great when possible, but loss is always the flip side of that coin.
And would like to add; against the possibility, a bank or brokerage firm goes bankrupt and you never get your money back. I don't think this is far-fetched.
Dave definitely has gold. He’s not an idiot
No successor investor has gold
@@Kane6676 successful you mean? Ray Dalio does. Plus it’s an insurance policy against fiat currency. So nobody is going to make a killing on gold.
He has real estate. That's better than gold, as long as you have a government that respects private property. But if you don't like the government, don't use their money
@@X9523-z3vUntil there's a housing crash. Then you're selling at a massive loss. Or when housing prices get too high. Then Noone can afford to buy that house you have and it will never sell. All I can say is things are getting so bad right now that there's really not any right answers.
Silver is used in more technology than ever. If anything silver is undervalued.
I agree
Exactly why they keep prices low on silver.If it's high we will be paying out of our arses for mob.phones and other gadgets
Absolutely right.....
and copper in a way ( if it's worth stealing it from a house or being taken off the penny then i say its worth something )
50 years? 5000 more like it.
ALL fiat currencies in history have gone to zero
But you had 80,000 dollars cash vs 80,000 in gold sitting in your bank, and the dollar crashes, then you've lost all of your cash, if it's in gold or silver, the metal goes through the roof and you've made money. If a state creates it's own currency, i'm sure that there won't be a way that your U.S. dollars sitting in your account would be converted to a new state issued currency, or would they? If not, then how is owning gold or silver a bad idea?
It's one of the only thing that I disagree if Dave. I think he's wrong on all his gold arguments.
John Smith they probably wont convert. And you lose everything. But if you have gold you can always transfer to that new currency. Not owning gold and to lesser degree silver is a horrible idea, and your priming yourself to a horrifing wake up call.
Juan Lopez I stack silver, but he'd be fine not having any. Real estate is also going to keep value in a dollar collapse.
Its worthless. How are you going to cash it in ? Bank wont take it. People ? its too late whos going to buy your gold ? Its too late after the collapse. Just like real estate after the big rise whos going to buy after saturated ? The point im making is that you have to sell your gold before an economic collapse but the problem is it dosent gain value. Lets say you buy now and it does gain value before the collapse why should i buy from you and not from Mike Baloney or other trusted web sites ? I think your better of owning gold or silver in Etf's that way you can cash it in to the bank after the collapse to new money or whatever.
DON'T WORRY EVERYONE IF YOU DON'T WANT YOUR SILVER AND GOLD I WILL GLADLY TAKE IT
Peter Schiff was right, Dave Ramsey was wrong, youtube "silver stackers"
Gold is insurance in a world of fiat currency, everyone should have it
gold is just another fiat, you can't eat it, shoot it, or heal anyone with it.
dstblj 52 and yet it’s maintained its value for thousands of years while modern paper money has had unsustainable inflation with no end in sight in the last 100
dstblj 52 let’s see, egypt, greece, rome, persia, mongolia, france several times over, britain, spain, germany, japan... Name one Empire and one Dollar that hasn’t eventually failed. I’ll wait. meanwhile if you labored in egypt and we’re paid in gold, you held your wealth and could convert it to any empires currency and survive.
Gold is just another fiat. If you want insurance . Own a house , guns , medical supplies and invest in yourself to be highly skillled no matter what country you are in
Frost Gold is a fiat . It only works if the person using it can trade it for something else as we’ll . If only a few people in the world owned Gold, how can it be used in a economy . At the very most it can be used to make a product but now you’re talking of a large amounts of gold and silver .... truck loads
2% return? If i go back 50 years gold was $254.48 and today it is $1260. That is almost a 500% increase. You may know how to get out of debt but i don't trust your advice on this topic.
He's talking about the annual rate of return
Jerry Threedee yea 2% per year over 50 years is only 100%. That's a huge difference from 500%...
You need a remedial course in math. First lesson, compound rates of return.
Yea.. but did you take inflation into count?
That's not how compound interest works. P(1+i)^N is the formula. The actual return given the numbers you used, assuming annual compounding is 3.25%. Over 50 years, 3.25% compounded annually turns $254.48 to $1260. For comparison, the average stock market return over that period is around 7%, which turns $254.48 into $7496.
That’s why the central banks are buying gold like crazy
@algore lier What?
algore lier Central banks are not Federal, but I will assure you they have more power then the federal government.
Is that 100% verified that central banks are buying all the gold? If that's provable and true then we should buy gold so they can't get it.
Given the current market uncertainty, it seems wise to consider investing in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I understand the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.
This sounds great. Is there a way I could connect with your advisor or any other whom you think is very good? I'll appreciate.
Sonya Lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
This is really bad advice. Dave's other advice, to get out of debt and to use cash instead of credit - that's good advice. But not this, not now. Gold is not an investment (in the sense that it doesn't have 'cash-flow'), but it is a great store of value. In other words, gold is a way to save money. Saving dollars is a way to lose money due to real inflation and the devaluing of the dollar. For more information read the book "Currency Wars" by James Rickards and balance Dave Ramsey by listening to the advice of Robert Kiyosaki on The Rich Dad Radio Show.
It does match inflation, but not much more, which means its even worse then what you get with T bonds and about the same amount of risk.
...a dollar invested in bonds in 1801 would be worth nearly a
thousand dollars by 1998, a dollar invested in stocks that same
year would be worth more than half a million dollars. All this is in
real terms, taking inflation into account. Meanwhile, a dollar invested
in gold in 1801 would by 1998, be worth just 78 cents. The phrase, “as
good as gold” can be misleading as the phrase
“money in the bank”, when talking about the long run.
Thomas Sowell, Basic Economics (2007)
harrison wintergreen It’s about diversification, having some money tied up in gold is a good idea simply to spread out your money and have some future proof money in reserve. Obviously don’t own your life savings in gold, or in any other one thing.
I love that Dave Ramsey just hangs up on people.
Fifty years ago gold was $35. an ounce in USD. Today it is closing on $1500. When I was a teenager, I could buy a gallon of gas with a silver quarter. I still can.
Paul, if you put that 35 in the S&P 500 50 years ago that would be worth over half a million without accounting for inflation
And in 2014 gold was selling for $2000, and I remember all the goldbugs said the price would continue to soar. Today gold is selling for around $2000. If you had invested in stock indexes your money would have more than doubled. Gold is a risky investment, with returns worse than any stock indexes over time. It preys on the paranoid.
Number of Dislikes says everything about this video !!!
From 1966 to 2016 the compounded annual growth rate for gold was 7.1%.
And what’s the overall stock market?
And the inflation adjusted performance of the s&p 500 was 7.8% now we just need to know the inflation rate over 50 years to see how much gold got spanked
Dave please share an updated video on this topic!! Especially as the value of the dollar has been going down. Thanking you in advance!!!
i get that Dave has a different historical back-ground - but comming from Middle Europe I can state that there was not a 100 years were paper money did not lose all of its worth (in fact often it was much more frequent), and also it is true that immediately after e.g. the 2nd world war the intermediate government printed money but it was literally inflating by the hour - you could not buy anything with it -> from my grandparents I know that the best tradiing goods were: food later on also alcohol and cigarretes and later on gold and silver -> which had an enormous buying power for a while.
So maybe it is more a psychological thing -> but my emergency fund will always be mostly gold and some silver
Having money in the bank has a poor rate of return!
Prices of gold and silver have both doubled since this video came out.
Dave is partially correct but it's fair to say he doesn't fully understand gold.
While it is true that gold isn't a good investment, that's like saying holding cash isn't a good investment - because gold (like cash) is a form of money. It serves a purpose better than just about anything else - storing wealth. When there is a devaluation or currency crash those who have some gold won't have lost their purchasing power.
Dave could recommend that his followers hold some gold bullion as a portion of their emergency fund. It has a lot of advantages for this purpose. It can be quickly cashed in but it's not something you can just spend on impulse. It can also provide some protection during a major economic event.
Good advice
Holding cash is not an investment. You completely misunderstood the premise of this question. The guy asked him about investing not hedging against inflation in preparation for an economic collapse.
My only concern is that if things get bad enough no one will want to buy your gold
What I got out of this is, gold is stable, which is good enough for me... I'd rather a 2% return than a loss...
Yea and I also have no idea where he got that 2% from. It was $35 ish 50 years ago. Now it’s $1900+ .....
GOOD POINT .....👍
So based on his logic, if I have USD, and suddenly it is worth zero, how do I exchange it for the new paper currency?
Exactly what I was thinking. At least you could exchange precious metal for another currency because it has global value.
Exactly!
How do you exchange something that has become worthless for ANYTHING?
You need an asset (real estate, stocks, art collection, etc) that can be exchanged for the new currency. If the new regime is nice, they might allow you to exchange your paper money, but how often is that the case?
Gold and silver has kept its value since the Roman times. As we all know it's been replaced with paper money which holds absolutely no intrinsic value. I do agree that you cannot rely solely on precious metals as an investment, but it is about diversifying your financial resources. And having investments and gold and silver can never be a bad idea, it just can't be your only idea.
It's not an investment at all for the long run, because it doesn't generate income or grow. Businesses grow and generate income. Real estate generates income. The income they generate exceeds inflation. Real estate has also kept its value since WAY before the Roman times. You know what else it has done? Generate an income!
He mainly talks about diversity, in your investments. I do agree metals don’t generate and grow but it’s definitely another to keep money.
Kept its value? Hmm silver all time high was 50 in 1980. What’s it at now? Kept value ? Again , stop listening to the people who sell you silver and gold
Gold protects your wealth but it won’t create it. Dave is too bearish on gold. It’s certainly okay to have some gold and precious metals in your portfolio
Agreed. Most precious metals investors (i dont like the term investor or investment) and financial planning companies recommend something like 15% of your portfolio being built onto metals. Something like that i believe. I don't think hes really factoring in things like industrial use of the metals, especially platinum and palladium in regards to the automotive industry and tightening pollution restrictions.
I on the other hand just think its cool to have my own personal treasure chest 😂😂😂. A little something for my kids in the future.
@@cenobitetoastcrunch8803
Recommendation is 5-10% of your portfolio in them.
It's a hedge fund, especially in The view of what's going on today.
Dave says (I'm paraphrasing) "no time in history have we ever used gold and silver." ALL money was gold and silver before we printed mass amounts of paper money. And as a little side note, Saddam's money system used Silver and Gold coin. Then it was replaced by debt based paper money. Another side note on the civil war comment he made: The reason people used union dollars was because war creates debt and the union was in debt and had to use IOUs and due to people hording silver and gold, there was a shortage of hard money (silver and gold). The U.S. government used paper money to jump start the economy. The US used gold coins as money up to 1933 almost 70 years after the civil war, and used silver coins up 1964 almost 100 years after the civil war. I'n not a follower of Dave but I'm giving him a try. I already do many of the things he suggests, but mu knowledge of money history is giving me red flags about this guy. How many other things is he wrong about and why is he so arrogant about his opinion on gold and silver? As a Christian, I would never display this type of blatant arrogance and I would never pretend to know a subject and offer advice about it. He seems to refuse to learn about it. Very arrogant.
Yes. Dave is entertaining and knows his stuff... then there’s these two random gold/silver call-in in UA-cam that are very PM negative. Dave doesn’t ask his cash levels, his debt, income, etc. I agree, this approach and bizzaro rambling commentary that is totally flat wrong; furthermore, given is whole moral high ground talk, this calls into question his moral compass on liberty and freedom. Only gold and silver is ‘real’ money, comparing paper Iran/Iraq or USD to oranges is just closed minded.
Really curious to know if you’ve changed your tune on metals now, Dave. Would like to see a show where you talk with an expert in metals.
In an episode of Little House on the Prairie, the Ingalls are told they'll be rich because a distant relative has left them a fortune. The problem was the "fortune" was confederate money. That's the first time I heard of a dead currency that has no value. I felt so bad for Charles because Mrs. Oleson had convinced him to buy things on credit so he was broke! Charles only agreed because of the money he thought was coming his way.
There was another episode where they found gold, it was worth $20/ounce back then and the time period is right around after the civil war. So Dave must have corn on the cob for brains on this issue because if you lost paper money but had gold and silver, it was still worth the new money.
FACT: Gold has OUTPERFORMED the U.S. Stock Market since the year 2000
Shut up Dave
In both Zimbabwe and Venezuela people have resorted to digging up gold to buy groceries.
dollars in both cases plus rand in zimbabwe are far more common.
And what was the value of the gold pegged to? You are a noob!
He will eat his words very very soon🤣🤣🤣🤣🤣🤣😂😂
You got that right!
Yupp you got it right
How soon? 😂
Very very soon.
So why do central banks spend so much time/money on storing/ processing gold?
My precious metals are .22lr, 9mm, .45acp, 5.56, and 76.2x39 and 54r.
They take up so much space tho.
Silver is needed to build solar panels so some day it's going to be in high demand
@Gemcitykid point is what exactly?
If gold is such a bad idea then why does the US government hold the largest amount of gold ever hoarded in human history?
This didn't age well.
Nope it didn’t lol $3700 spot
I think most people are confused between the terms insurance versus investment
Gold and silver will be a 1 to 1 ratio again, just like Dave Ramsey's like to dislike ratio.
Gold and silver were never at a 1 to 1 ratio. Never. Historically, it used to be about 15 ounces of silver to one ounce of gold, but those days seem to be long gone. Silver just isn't viewed as a monetary metal anymore.
I think gold and silver is usually a good investment if the market crashes precious metals usually do well.
+morlandoemtp That would make it a good trade. LOL
Everything said is talking about actual physical metal you can hold in your hand:
At worst gold/silver is the best storage of wealth. Especially when you believe a bunch of bubbles are about to burst.
Should you put all of your extra money into gold/silver? Not unless you think the government will cause hyperinflation.
Should you put some of your extra cash into precious medals? Yes. You can think of it as an insurance plan. because unlike all of your other investments gold and silver actually do better during a recession. They keep up with and do better then inflation.. Cash it in when times are bad for a profit. The best true emergency fund Currency can buy.
Gold and Silver: the only true form of money.
Price of gold nearly doubled since this video aired (2016) so you would have litterally DOUBLED your money if you invested in gold at the time of this video. 2016- average closing price was $1,251 per oz and in 2024 the current price is $2662 per oz so yes you should have invested.
Excuse me, it preserves your wealth to the next Phase
This ☝🏽
If the caller bought in 2016 when this video came out, then they did REALLY well.
Dave needs to Zimbabwe during it's hyperinflation period. People were using gold dust just to buy bread.
Nope. They pretty much used the South African Rand. If you had gold (or anything else), you sold it for Rand (or dollars) and used that to buy bread. I lived in Peru during hyperinflation. No-one used gold or silver. No-one. We used Peruvian Inti, but traded them daily (sometimes hourly) for US dollars -- there were money traders on every street corner in Lima. I would go out to dinner, but would only change my dollars for Inti after I got the bill -- because there could be a 10% drop during dinner. But no-one used gold or silver. Ever.
@@otsoko66 Bet yall wish you had gold during those times. Gold would have DEFINITELY made life easier.
@@otsoko66 once the global economy collapse people will start to use gold , silver , food and water / clothing for money ....
When gold goes to 30k an oz and it will, this video will suddenly disappear.
It will disappear at 5k.
I’d love to see Dave and Mike Maloney have a debate. Two men enter, one man leaves.
Problem is Dave doesn't even know what he's talking about on the subject lol
Lol.. yep.. Dave is for the fiscal irresponsible... micro econ if you will. Mike is macro Econ.... currency is debt
My gold is on Maloney for sure. Dave guy has no idea about monetary history. A typical case of the blind leading the blind.
“Joe six pack”
I REALLY needed to hear THIS! I had a guy badgering me after JUST inquiring about gold. He was a representative from one of this advertised "INVEST IN GOLD AND SILVER", 😲, companies. There are many hidden cost in those companies.😠
Don't take advice from Dave on gold/silver. It is far more nuanced than Dave thinks. Right now with the Fed rates poised to drop, gold is attractive. Later on in the cycle when economy comes back and rates go up, time to get out.
Update: In 2024 GOLD has an annualized return of 30% and its only October!
The dollar was only worth something when it was backed by gold
Dave, you don't know the gold market is highly manipulated and this will end soon? Nothing will be left standing when the markets crash and burn except gold and silver. Of course they have not performed well lately. This is why.
What part of highly manipulated makes me want to buy it?
I believe everyone should invest 20 percent or more of their income on gold or silver. Its a forced savings for me and if I don't need it later on, my stack will be passed on.
CANADIAN BOYS completely agree.
Silver and Gold is a inflation hedge. Inflation is around the corner.
Everyone needs to watch the Hidden Secrets of Money series by Mike Maloney. Regardless of your stance on Gold and Silver. Go own dollars and watch them get devalued. The government prints the currency and the banks enter the digital currency into their systems. Meanwhile, you are on the hook for the debt. Prices rise and your 'money' the dollar pays for less. Dave Ramsey mentions many times what his stance is on how responsible the government is with 'Money' Then why not have some gold and silver as a preservation of your hard earned time and labor. Currency=the US Dollar is not a preservation on your hard earned work. Then why is everything suppose to be great with the economy and there are a lot of us who know by our current situations that we haven't seen much of an improvement since 2008. It's because the government and banks are creating currency and the end result is that all these prices will continue to go up.
What if we learn to synthesize precious metals in the future?
This should probably be revisited here in November, 2022.
Why?
Thanks for the insights! Just a question on a different topic: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How can I send them to Binance?
This guy doesn't know anything about history...
Dave Ramsey, show me a graph that tracks the performance of the federal reserve note.
Dave, maybe you should look at the current economic situation. You can keep your currency. You do have other good advice. You make millions on your show. You probably have nothing to worry about.
You can't purchase something from the store with gold.
But what happens to your life savings if a currency changes? Gold would be much more stable in a transition like that
He covered that.
@@Kane6676he covered it but left out the fact that if you owned the failed currency you just lose everything. If you own gold, you can trade it for the new currency and keep all the purchasing power you had.
1969 gold $41 Dow $947 Dave needs a math refresher course
If they figure out how to create metal out of nothing then it’s a bad investment, until then it’s a good investment because it will store your money’s value.
I know Dave wants to take back what he said, gold and silver are going to sky rocket with this global reset.
I love when someone provides the best evidence for something when trying to argue against it. Having gold would be infinitely better in both scenarios than leaving your money in cash if you were in the confederate states or Iraq. You would be able to exchange gold for whatever the new currency is that replaces the old currency. Both the stock market and real estate are tied directly to the country's currency. So, if a tough economic time happens you will not be able to cash out or leave to another country that is not affected. Gold is essentially a hedge and preservation against your country's currency, if it were to decline in value or crash/die completely. Some other alternate assets also have that power, but none are as liquid as gold.
This is absolutely wrong and bad advice google gold price history you’ll see it was less then $100/oz 50 years ago and today as I’m typing this message it’s at $14250/oz how on earth is that 2% you don’t need to be a genius to do the math here , gold is the best long term investment that’s why banks hold it in tons enough said .
I believe the year was 2008, people lost their life savings from stock.
cbzombiequeen58 also the year that people made their millions . 2008 recession lasted 14months. The economy rebounded in 2010 and people who kept their money in the stock market are millionaires now . It’s about riding out the tough waves. Patience is key
Fiat currency is bound to fail... And when it does, it will fall hard and fast.
Keep waiting for another 20 years for that to happen.
Him vs Robert Kiyosaki in a debate would be gold
2021.. look at these inflation numbers
That was cute. Hello from 2022!
Just part of being diversified