Why You Shouldn't Be Fooled By "Gold-Buying" Headlines!

[@XxChuyoxX]

Gold isn't for becoming wealthy it is for preserving your wealth outside of all financial systems.

[@DrSchor]

that is only half the answer: what is for becomming wealthy

[@XxChuyoxX]

@@DrSchor why is it "half the answer?" He is saying gold is never a good option which is a stupid thing to say.

[@monkey39128]

@@DrSchor The S&P 500.

[@rahulrai3938]

Yepp, Nicely Explained

[@NeonNomad747]

It doesnt preserve wealth at the start instead you'll lose money IMMEDIATELY from paying premiums and it might take YEARS just to get your money back to the same amount you spent on it.

[@brdphl]

If gold is so worthless why are Central Banks buying up gold at a record pace?

[@verstappa]

Random companies are trying to sell you gold at record pace. Like lear capital. Why are they trying to get rid of their gold so bad?

[@thomaskishmanii2675]

You buy when it drops. Buy platinum its cheaper

[@ReserveStacker]

@@verstappa because, that's their job. If you think the Lear Capital doesn't have their own stores of PMs then you're out of touch. YES, they sell PMs, but that doesn't mean that they themselves arent fully invested (privately)

[@GD-tn3ez]

@@verstappa They buy cheap and sell high, just like any other commodity.

[@marvinh1776]

He is so wrong on this. When the banks collapse.. all of your investments disappear in the blink of an eye. Our government is destroying the dollar and it will be worthless in the very near future.

[@ClarkeGriffiny7]

People choose to buy gold for various reasons, such as it’s historical role as a store of value and medium of exchange, it’s potential as a hedge against inflation or currency devaluation, and it’s relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolio due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance and financial situation before deciding.

[@JohnSmith060]

Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver, stocks and digital currencies are also good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you..

[@KarenLavia]

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

[@ChristianKelv]

I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance

[@KarenLavia]

“ Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.

[@BellamyGriffin19]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@zubairadamu2477]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[@AlilatTiamiyu]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@zubairadamu2477]

@@AlilatTiamiyu That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

[@AlilatTiamiyu]

@@zubairadamu2477 My advisor is VICTORIA CARMEN SANTAELLA;

[@AlilatTiamiyu]

You can look her up online

[@TylerMohn-g9l]

@@AlilatTiamiyu The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@TheMCGamer2012]

I'd rather have a yellow rock than pieces of paper

[@bearjones6929]

I thought Dave was a Christian? He is a liar or a fool or both. Trash fiat currency and wall street mutual funds is where he guides people. He is bought and paid for shill.

[@amireallythatgrumpy6508]

@Ann Taylor Only 75 years? That ain't worth spit little girl.

[@daveh6424]

​@@amireallythatgrumpy6508 Your name should be Am I Really THAT Stoopid??

[@brianyaeger8209]

The rock and the paper have the same value, whatever people believe they are worth There is no inherent advantage of the rock beyond the belief in it

[@bonefishjimmy]

Bullets and canned goods - the new exchange medium...

[@YankeeStacking]

You don’t convert to gold to get rich. You convert to gold to STAY rich.

[@Crispy640]

Well said yankee. Preserving the buying power, storing what it could get today, and it will buy the same thing in 10/20/30/60 years, just like it has, despite inflation. A tailored suit was 1 oz in 1920, same as it is today at 2500, for a tailored suit. Or 20 oz for a new car, 100 oz for a house etc. Groceries gas etc. Dave hasnt seen a 2 thousand year chart and doesnt know what backs central banks currencies.

[@Spawny500]

Thats honestly so dumb

[@CiaoTesoro]

Nope. Gold is going to hit all time high. Ramsey is WRONG about this.

[@YankeeStacking]

@ Gold already hit all time highs recently.

[@rogeliogonzales5894]

@@CiaoTesoroi agree

[@buyystocks]

2018 gold$1300 today $2400 I'm loving it.

[@ouaoua11]

bought mine in 2016, I m loving it too !

[@buyystocks]

@@ouaoua11 great job

[@charliechan8347]

Keeping pace with inflation.

[@reallemon4446]

$2650 now what a joke Dave Ramsey

[@yoderboys1]

If you don't hold it you dont own it.

[@r.j5451]

Exactly. Why wouldn't you want to hold real money? 🤦🏻 With the bank failures going on also

[@yoderboys1]

@R. J a lot of people are like don't worry about bank failures everything will be OK. It's like rearranging deck chairs on the titanic after she started to sink.

[@matthewtaylor2275]

Considering the recent developments involving SUB, Signature Bank, and First Republic Bank, reminiscent of the 2008 market crash, is it prudent to continue saving in the United States dollar? Alternatively, it would be wise to investing in gold amidst these circumstances.

[@nathanielgray6221]

It's always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I'd say you're better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.

[@ziyaadel-shahin586]

​@@matthewtaylor2275 It is often true that people underestimate the importance of financial advisors until they experience the negative effects of making decisions based on their emotions. I recall a few summers ago, following a long and difficult divorce, when I needed a significant boost to keep my business afloat. I conducted research and found a licensed advisor who was diligent and helpful in growing my reserves despite inflation. As a result, my reserves increased from $275k to approximately $850k.

[@jonasyracheta2185]

It's insurance with NO third party risk! And not forget it is real money so can barter with it. Over 5,000 years of barter.

[@jamesbyerly766]

He thinks Mutual Funds are better lol

[@betterbuilt1114]

Exactly!

[@DrSchor]

no counter party risk. what is third party risk?

[@UpYourArsenal]

I'm not buying metals to 'profit' from an 'investment' -- I'm buying metals to maintain a backup of steady value in a physical item that I can hold and pass on to family later in life. I have plenty of other investments for profit.

[@jimmymcgill6778]

Dave does not understand that.

[@Maelu-op9gf]

Exactly. They are to preserve wealth and you will be glad you did. Once these metals are no longer suppressed we will see their value double or triple. The sky is the limit because this current money system could crash and burn

[@michaelhutchings6602]

@@Maelu-op9gf If metals are no longer "suppressed" their value would plummet since the supply would explode.

[@I_like_turtles_67]

​@Michael Hutchings bingo. There's asteroids in space with trillions of ounces of precious metals. Eventually it will become cost effective to mine for them off planet. Maki g those metals more common in everyday use.

[@alrbredwall]

So why not just buy more guns and ammo? It facilitates the same thing. Commodities are commodities.

[@ImNoOne22]

The most stable asset in human history is riskier that the USD and mutual funds? Dave is full of it.

[@b.m.4066]

What do you mean the most stable? It's more volatile than most other investments It's like a roller coaster at six flags

[@constitutionalstacker5701]

@@b.m.4066 🤣

[@Kane6676]

@@b.m.4066 he heard that from a silver pushing KZbin channel. He has no clue what it means, he’s just repeating it. Nothing stable about metals

[@daltonwhite6481]

@@Kane6676has gold and silver been used as money for centuries? Answer is yes. What do you think people will allocate to when the faith and confidence in the dollar is lost? An economy crash includes real estate crash, 401ks will be bankrupt, bank failures which we are already seeing now. Everything market related has been propped up by phony money. Money printed out of thin air. How many people do you think could go into a bank right now and cash out their funds? My guess you’ll have maybe 10 people able to get their money then the banks shut the doors you people including Dave Ramsey will be the ones standing in food lines or selling your items to me just to get some silver. Silver and gold are down because of price manipulation. Go look at the comex for silver and gold. They are buying 90k contracts and short selling and long holding that represents 600maybe 700 million ounces of gold. Why? Because gold and silver are dollar destroyers. Dave is worth several hundred million but he’s never seen a crash like what’s coming. He will lose all his money and so will his followers. But at the end of the day people holding precious metals will be okay and living a very good life. This dollar monetary system ends this year. You put your money in real estate or a mutual fund your a dummy that deserves to go broke😂😂

[@good2goskee]

@@b.m.4066 an ounce of gold would buy a fine suit of clothes in ancient Rome. An ounce of gold would buy a well made suit today... 2024 my $100 buys me 20% less groceries vs 2020 = volatile On a per gram basis, the same gold would buy 3% more groceries today= stable Volatile? Lol!! I can cherry pick when RE went down 50-70% in the last 15 years I can cherry pick when Amazon was down 70% in the last 23 years I can show you that a USD has lost a little under 90% of its purchasing power since the Federal Reserve started. = volatility I think 5000 years of monetary gold in history speaks for itself Sure, I own stocks and RE, and I'll stop buying gold when governments start being fiscally responsible and stop recklessly printing money and creating debt. China, India, and central banks (you know, the institutions that print the paper money endlessly) buy gold.... you should too

[@wollywop2278]

I absolutely love this man but he’s completely wrong on $GOLD. If SHTF it’s better to have options. Love y’all.

[@Brian-dh9lp]

Yep. Beer, bullets, and blue jeans.

[@boromirsonofdenethor2586]

Dave Ramsey is a financial wolf not a shepherd.

[@pierreclifton1865]

Starting to look alot like Jim Cramer. All he needs is some big horns, toys and fast camera angles.

[@buyystocks]

@@pierreclifton1865 100%

[@GerardoLopez-xu9ft]

He is one of the advisers ever and he is right about not buying gold !

[@GerardoLopez-xu9ft]

@@pierreclifton1865big difference Cramer has no integrity! Ramsey is a financial genius! I made a lot of money investing thanks to Ramsey and nothing will ever go to gold!

[@Mezi48]

​@@GerardoLopez-xu9ft Did you check the rise in the value of gold since this video came up?

[@Lauritzenm]

Gold is money. The dollar is currency. Dave should know the difference😂

[@DrSchor]

can you explain the difference , please?

[@jmw77]

Dave has two rule. Don't be in debt and don't buy gold.

[@sandysimpson3524]

@@jmw77 and buy in companies who support ESG. Dave is pathetic!

[@sandysimpson3524]

23 states have Gold & Silver as legal tender. And it has always been considered currency. It says it in the Bible.

[@Lauritzenm]

@@jmw77 When it comes to the history of fiat currencies, Dave is ignorant.

[@screwdriver_bandit]

Numbers on a screen in your bank account and green paper printed to no end also don’t have magical powers

[@SteelReserved]

They kinda do because that’s what we use in our ecosystem 😂. You have a lot of it, pretty sure it gives you magical powers.

[@JSmith-dj2pi]

I love Dave and his principles and strategies are great, but I will continue buying physical gold and silver. I think the problem looming is unlike anything we've ever seen before.

[@amireallythatgrumpy6508]

And gold and silver will not help you with the problem.

[@jbgant8513]

Tell it to Venezuela grumpy.

[@blackspiderman1887]

How is owning gold and silver going to help you? Unless I can go inside a store and purchase something with it, then it's useless

[@thelordofnuggets629]

@@blackspiderman1887 If you wish for life to be convenient for you. You can be unhealthy and fat. If you wish to be happy. Then you can be fit and skinny. it's very simple. If you only chase convenience you will be enslaved. Most people who have their money in things they do not own are indeed enslaved.

[@TAGEconomy]

Same here!

[@lepoj]

The irony of Dave talking about risk but telling everyone to allocate their mutual funds in the same way regardless of age or risk tolerance.

[@jamesbyerly766]

100%

[@freedomring3022]

Exactly

[@MrJimmy3459]

Spoke like someone who knows nothing how mutual funds work........

[@lepoj]

@@MrJimmy3459 Please explain the logic behind a 70 year old should have 50% of their assets in international and aggressive growth mutual funds as Dave recommends.

[@stevenpaveglio2344]

​@@lepoj what would you suggest

[@Brocephus77]

My parents and neighbor lost big investing in mutual funds. Why are countries and central banks hoarding gold?

[@arj-]

How do you possibly lose money in MF long term?

[@Brocephus77]

@@arj- google it

[@jorad4887]

@@arj- it happens look at the collapse of 2008 and the years leading up to that, nothing is safe not even diverse investments including properties

[@devpav9880]

Dave's dollar hegemony attitude is exactly why other countries are dedollarizing.

[@SilentEire]

They’re not, don’t buy the headlines

[@michaelleahy6848]

​@@SilentEire Have you been listening to Serpentza on KZbin?

[@jonasyracheta2185]

​@@SilentEire believe what you want. Not reading headlines! That is for rookies.

[@davidhenry792]

Because he's right!!! Those countries are junk...

[@michael589m]

Why watch the news when you can watch the dxy

[@thejakelegion]

Sorry, I'm going to buy metals. :)

[@DrSchor]

that is fine, as long as you stop at cuff links

[@GeorgeFistoot]

Me too

[@joshs9066]

Gold is up 20% in the last year. Dave is a bloody idiot

[@electron7659]

So, a rapper with a gold tooth in his mouth literally puts his investments where his mouth is... 🤔🤭

[@GerardoLopez-xu9ft]

Hahaha! Good luck hopefully you don’t get scammed

[@donmesut9587]

Well Mr Dave I own two properties in London, and have 3 kilo of gold which I can liquidate in a heart beat, the second I sell my property Uncle Sam will take a chunk

[@WewLaddie]

"it's a rock that is yellow" That yellow rock powers 100% of phones and computers.

[@tugboat2030]

No more than any other element on the periodic table that's used for materials. Don't iron or silicon have more uses?

[@TrevForPresident]

@@tugboat2030 They also have value relative to their abundance. The abundance of iron historically being why societies never used it as "money." Gold's bull case isn't as a commodity, is the point.

[@bjkarana]

I think silicon is what you're thinking of.

[@Jackaroo.]

It's also not a rock, it is a metal.

[@benland3517]

Those phones and computers helping build your wealth?

[@winterhavenfarmlife]

I am hoping more and more people follow Dave so I can save on premiums. PLEASE keep buying mutual funds 🤣

[@r.j5451]

LOL yes!

[@denisegregory9115]

Yes yes yes, the premiums are killing me...keep buying your paper illusions of wealth

[@SinisterAngel1]

You do know that it has outperformed precious metals right?

[@winterhavenfarmlife]

@@SinisterAngel1 thats fantastic news. Also the banking system is sound.

[@ReservedInvestments]

Dude, I'm up hundreds of thousands in mutual funds. Have fun with your little shiny discs...

[@SilverSlugger-fo2ow]

2. Gold has gone from $2,016 on 05/02/2023 (when he said this) to $2,602 today (a 29% increase);

[@barantopal8278]

add another 150 usd 😂

[@dlzk12]

I bought gold in 2008 and it's 7 x ..Dave doesn't know about gold for sure 😄

[@sirid2987]

Gold and silver is not for investment or to create revenue. It’s for wealth preservation in case the paper money loses its value. We are heading for another monetary reset with CBDC and precious metals will help preserve your wealth.

[@ProjectYaris]

Somewhere upstairs Dave’s grandpa is shaking his head.

[@Rock-ky9tj]

😅😅😅😅😅

[@Indi.S]

Wars have been fought over gold. Love has been expressed by it. Gold has changed the landscape of civilisations and the world. Kings and Queens have fallen and risen fighting for it. It looks beautiful in jewellery & watches. You enjoy wearing it everyday, people admire it, but at the same time it’s an investment. You can’t enjoy stocks & shares on your wrist or around your neck. With Gold you can everyday whilst knowing you will never loose your money & over time it will appreciate. For me it’s Gold & land…

[@DrSchor]

how do you wear land on your wrist

[@pierreclifton1865]

Gold is also in my hand. Hard to Bernie Madoff physical gold.

[@Kane6676]

@@pierreclifton1865who cares

[@MWebb-de9pq]

It is INSURANCE! It is not an investment. Otherwise why would we also get life insurance, home insurance, car insurance. These aren't investments and you know this.

[@SinisterAngel1]

Try getting what you paid for...yeah "insurance"

[@TheOnlySgtRock]

Insurance, Exactly. Dave fails to see this or maybe he doesn't want to.

[@kandacee9015]

I wonder if it can be an investment......Where does the energy or purchasing power of the entire US economy go, if it's not being reflected correctly in the dollar? Does it just dissolve? Or perhaps it reverts back to the money that is not as corruptible? Gold/silver??

[@chrisb3189]

@@SinisterAngel1 Insurance doesn't give a return. I don't get anything back if I insure my house

[@electron7659]

Any type of insurance is a scam. Car ins., Home ins, health ins, etc. They're nothing but cash cows to extract funds from people "legally" 🤦

[@jamesbyerly766]

A yellow rock that has been around a few more days than his mutual funds he always recommends

[@juvepersempre7383]

How is an unproductive and overvalued asset (compared to its utility in industry and jewelry) better than cash flow and income generating assets?

[@Jackaroo.]

It's also not a rock, it's a metal.

[@jamesbyerly766]

@Juve per sempre You don't understand fiat currency, my friend.

[@Iburn247]

​@@juvepersempre7383 well it was 40 dollars an oz in 1975 when he started real estate. It's 2k+ an oz today.

[@jamesbyerly766]

@juvepersempre7383 Undervalued you mean. Gold and silver are very important to the world in many industries.

[@NicholasBall130]

Is it really worth investing in gold in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?

[@cowell621]

Yes, buying is one thing and knowing when to sell is another, that’s why I do my own market valuation.

[@LiaStrings]

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.

[@JamesLongman-v5r]

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?

[@LiaStrings]

Rebecca Nassar Dunne has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@VictorBiggerstaff]

Thanks, I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.

[@jamesdickens7666]

Gold isn’t an investment. It’s a store of wealth. Inflation destroys currency. Gold protects wealth. Diversification is always a good bet.

[@MarkMphonoman]

You are so right.

[@Logistics_Sandar]

Ii

[@dlzk12]

It's an investment in a way.I bought gold in 2008 and it's worth 7 times

[@alexking358]

“I bought diamonds and they’ve never gone up in value.” That’s because diamonds are sold with a 5000% premium and dabeers has a monopoly on diamonds. They are not valuable.

[@stevee8318]

Also, every diamond is unique and a person with specialized training is required to determine the quality/value of each diamond. Precious metals are fungible. And large, high quality diamonds can now be created in a lab.

[@BorisBalinkoff]

Diamonds are a racket, for sure.

[@blackspiderman1887]

That's the point Dave was making Genius

[@alexking358]

Yeah, no. He’s relating diamonds to real tangible goods like corn oil and gold. Diamonds are not traded or valued anything like those items.

[@RaunakSharma-kv6my]

they are a piece of white rock if i say

[@danoconnor3720]

Dave is trying to deflect financial panic, but it may be coming anyway.

[@cutlerylover]

If we have financial collapse no ones paying Dave to ask how to pay the bills anymore so its highly motivating to suggest were fine...

[@MrLewis-lk8us]

He’s in bed with the same players who are manipulating and crashing the fiat system.

[@Brian-dh9lp]

​@@MrLewis-lk8usgive me a break. He's a real-estate guy.

[@robertburke9408]

Dave is either an agent for the Federal Reserve money printing regime, or he's ignorant of the writing on the wall. Writing that is done in huge florescent yellow paint on a jet black wall. He will be culpable for the suffering he could have helped prevent by simply encouraging his listeners to diversify across asset classes, including the insurance that precious metals provide against a failing system caused by irresponsible monetary and fiscal policy.

[@cowboyzkingz35]

Chatgpt?

[@charliechan8347]

Gold & silver have been around far longer than Dave Ramsey's experience with it!

[@sandysimpson3524]

This is called gaslighting your audience. Shame on Dave!

[@blackspiderman1887]

What did he say that was not true?

[@knuke9596]

I will take precious metals over this worthless paper that is losing value every day.

[@lionelhuts875]

Yet we measure the value of gold in that worthless paper. Gold has no inherent value. Plus, you can't buy anything with it. Maybe if society collapses, gold MIGHT be something we use for transacting. But at that point, bullets, food, and water are much more valuable. I'm not advocating holding cash over gold, but there are much better assets out there that actually have a societal benefit.

[@knuke9596]

@@lionelhuts875 No inherent value but has been used as currency and for trades for 1000's of years.

[@JV-uo7zz]

​@@lionelhuts875did you forget earth was older than united states?😂

[@lionelhuts875]

@@knuke9596 You just proved me right. Gold is used as a CURRENCY. Therefore, gold itself (i.e. "inherent/intrinsic") as a metal can only be used for specific purposes like electronics. EDIT You're essentially conflating intrinsic value with instrumental value.

[@knuke9596]

it has industrial use and use as currency or as a store of value. So it is still far more valuable and versatile than paper currency.@@lionelhuts875

[@beastmood8774]

Should I trust USD over gold?? The USD value is going lower daily lol

[@CiaoTesoro]

Dave is Wrong. Buy Gold and Silver before it's too late.

[@ftlbs928]

Dave, at 1:56 I must ask you: Why was the Messiah given Gold at his birth by the Three Wise Men? Interesting thing too, 30 pieces of Silver were exchanged for His life. Gold is NOT 'just a rock that is yellow'. You told a 70-yr old man to have his life saving in the STOCK MARKET?!------HOW do you sleep at night?!

[@willterryart]

And now I can finally say goodbye forever to Dave. He will lead millions into financial ruin. Dave is good advice in a healthy system… which he thinks we have.

[@Kane6676]

You been listening to the fear and panic pushed by bullion scammers. Only one in financial ruin will be you

[@willterryart]

@@Kane6676 You’ve been listening to Dave… good luck.

[@Kane6676]

@@willterryart I don’t need luck. I went from middle class to millionaire in 5 years bud. I stared actually increasing my wealth when I quit listening to bullion scammers, sold all my metals and got into real investing. Enjoying being broke

[@CamReddish-k5w]

Gold is 👑

[@TAGEconomy]

Well played. @@willterryart

[@RigEMac]

Dave's "in a perfect world" financial advice. all while Rome burns in the background.... Dave is a modern day Nero

[@rustyshackleford2719]

@@b-rad-3849 He truly is a museum specimen boomer. I really hope the boomers get to see the world descend into the chaos they created.

[@CamReddish-k5w]

@@b-rad-3849well said me and my gf been saying that about our parents, so true in a lot of areas

[@joshs9066]

At least most of the boomers I know back bullion. Dave seems to hate it out of pure spite

[@charliechan8347]

Dave hasn't experienced the collapse of the paper dollar...yet!

[@notcriminal2860]

Consider asking the people of Venezuela their opinion on the matter: Which holds greater value to them, a piece of paper or pure gold? Alternatively, you could visit Sweden, where the Krona has depreciated by 40% of its value, and inquire about their perspective. Another approach would be to approach individuals in Germany who are over 90 years old and ask them about their firsthand experience with hyperinflation in 1923. Pose the question of whether they would prefer possessing a wheelbarrow overflowing with worthless money or having a piece of gold securely tucked away in their pocket, worth much much more.

[@DrSchor]

Fact check: the usa is not venezula, sweden, or germany 90 years ago.

[@notcriminal2860]

@@DrSchor I think you need to read the comment slowly again.

[@RaunakSharma-kv6my]

nah they would rather prefer some number on a screen also known as mutual funds

[@freedomring3022]

The same guy that never thought in a million years he’d go bankrupt is saying the dollar will never crash. But you do.

[@IronDutch14]

I'm not for any side as I'm not familiar about the subject. But isn't the argument usually that if the dollar crashes we have a much bigger problem to worry about than worrying about our mutual funds?

[@paulcarney2842]

@@IronDutch14 Yes!

[@theslowevo9303]

Why would the dollar crash?

[@freedomring3022]

@@theslowevo9303 you can't print it into oblivion ... right now, as the world reserve currency we don't get the hyperinflation that other nations get with theirs, but once countries stop using it, everything gets more expensive because you have trillions of paper out there.

[@SinisterAngel1]

Eight out of ten businesses fail ... How is that relevant?

[@gregsmith3398]

Gold isn't what's volatile, it's the US dollar that's volatile. It used to take $20 to buy an ounce of gold, now those same dollars are so worthless it takes $2,736 to buy that same ounce of gold.

[@pixelperfect7555]

Gold is not a commodity - Gold is money! Everything else is credit.

[@amireallythatgrumpy6508]

Money does not exist. Gold does. So gold cannot be money.

[@vaskomarinov7042]

JP MORGAN!

[@PeterKruseMusic]

Major oversight by Dave: Every National currency that is used today was originally backed by gold. During a worldwide currency inflation crisis, this fact strikes me as relevant.

[@timsession6736]

Gold price May 2 2023 (the day this was posted) $1,981.34 - Gold Price Today October 18 2024 $2722.88 (and going up). Good call Dave, lol. You may understand how to get people out of unsustainable debt, but you don't understand the long term corrosive macro economic effects of a debt based economy. If you did understand it, you'd tell people to diversify and include precious metals in their portfolio.

[@trwsandford]

Dave has blinders on when it comes to gold and silver. I still love the guy, but he is fundamentally incorrect here. Gold and Silver are money, not investments. The “price” is more accurately called an exchange rate. What he calls money is just currency, and has no intrinsic value. Gold and silver always will.

[@CiaoTesoro]

He is only good for getting out of debt.

[@trwsandford]

@@CiaoTesoro he is very very good at that. I don't agree 100% with anyone, 100% of the time. I 100% agree with Dave 85% of the time. Over the years I've almost made as much money from precious metals as I have off of real estate. 👍

[@matrixab4356]

Wow this guy is not only wrong, he is giving worse advice than Jim Cramer.....

[@CiaoTesoro]

I completely agree. Dave Ramsey is good for getting out of debt but not in building wealth in 2024. Our banking system is about to CRASH. Those that have Gold and Silver will survive it. We are going to a gold back currency soon.

[@adrianvintila5077]

This advice aged like milk. Gold went up 50% for when this video was posted till now

[@HUBERDUDE]

Dave should start a new show with him and Jim Cramer. What a tool.

[@daveh6424]

They could call the show "Bad Advice You Can Cramsey: Cramer/Ramsey's insight on poor investments"

[@grocerygoat06]

"Don't buy gold." This is coming from a guy who recommended timeshares.

[@pierreclifton1865]

Lmbo. Dave's only good advice is to eliminate debt and save. Everything else he says is guesswork. This video proves it.

[@Kane6676]

Ya total tool. Better go listen to one of those sd bullion employees pretending to be an independent creator giving you all the fear and panic metals marketing

[@Kane6676]

@@pierreclifton1865 investing in metals isn’t guesswork?

[@nathantomlinson5027]

I agree that gold shouldn’t be used to invest or get rich over time. It is basically a more secure “savings” than just a digital number in your savings account. It’s just like saving cash except it is less liquid but it has value as itself meaning the metal does not need to be backed by a government to be worth something.

[@michealscott6811]

Agreed gold is a place to store wealth not an assets to try and get rich or make a lot of money

[@DAMON409]

Cash loses value, gold doesn't.

[@TUFFGUY-xp1hk]

The problem is that the government rigs the gold market just like a everything else. They suppress it to keep the illusion that the dollar is still strong. They need to suppress the rising prices of milk, eggs and the tips the waiters ask for at restaurants. Also getting taxed on everything is not to fix the roads. It's to keep us poor and in the system. It's all by design. So I live humble and frugal. Knowing that I can buy something if I want really want it, and not actually buying it, is pretty satisfying. 😊

[@leoitani4921]

GOLD was there before America was born.

[@amireallythatgrumpy6508]

Its only value is that projected on it by human stupidity.

[@Triedandtrue44]

It’s projected value globally for centuries is something that has huge momentum, going against that is like trying to reinvent the wheel, it is globally accepted as a safe storage of the value of your assets. All money is a way to transfer and store your accomplishments, you create something and trade it for a form of money and you want to know that in 20 years you can receive back the same value, that’s why counterfeit money is illegal, it devalues the value of the money.

[@gteixeira]

Gold is useful, it does have an intrinsic value. Same as oil or corn.

[@Triedandtrue44]

Gold won’t go bad or spoil though!😂

[@gteixeira]

@@Triedandtrue44 Indeed, and it requires much less space to store. It does require security.

[@cursedimageseveryday5559]

Would you rather: 1)Buy a gold bar with 1000s of years of history of investment 2)Buy imaginary code on the internet known as crypto which price is insured by the stupidity of people

[@ritterengine1289]

This!

[@ftlbs928]

Stock Market 'Paper' is Babylon, which Dave loves. Gold is Eternal Money, which Dave STRONGLY dislikes. Weird, huh?

[@ExAnimoPortugal]

I love Daver Ramsey, but he is completely wrong on this. Gold is real money, it was money before the dollar and it has been used as currency for much longer than even the dollar has been a thing. Yes, gold isn't an investment. Yes, it doesn't have good returns. But you know what gold does better than anything else? It keeps up with inflation! 10 bars of Gold would buy an average house 100 years ago. 10 bars of Gold can buy an average house today.

[@amireallythatgrumpy6508]

That's comical. By definition, money is NOT real.

[@dlzk12]

Yes..my father gave me gold as dowry in 2008 and it's worth 7 times now.

[@neilr4867]

Well this aged well

[@fangofango6136]

Ha ha

[@Footballfire654]

Gold has gone up nearly 700 dollars since this video …so

[@tedek305]

Gold is not a rock… it’s a precious metal in case you haven’t noticed…smh

[@zrzr4]

Its only been an investment since 1971 thats why, it was money before that and pegged to $35oz. for decades and thats why the dollar was worth something.

[@pjob123]

I don’t understand why he’s so against precious metals. It makes perfect sense to include them in your portfolio. Yesterday, stocks were down 1.5%, metals went up 1.5%. Having 3-5% of your portfolio in metals will help balance things out IMO.

[@SuziQ..]

I agree

[@abdulsijad2419]

he sells books and courses not gold simple.. he needs to keep sharon happy

[@gianthills]

agreed, especially if the markets crash and the dollar crashes. What will Dave do when that happens? All of his assets will be worthless, while gold will be through the roof.

[@Omar-nb3pm]

Personally, i buy gold only because its value will never go away and its a safety option not because im looking for a return

[@amireallythatgrumpy6508]

Its value will never only go away because its only value is that projected on it by human stupidity.

[@Triedandtrue44]

It’s value was put on it for centuries for several reasons, not stupidity, intelligent reasons, people in the past had much wisdom, for example streets were named to give you information, like horseshoe pond road, a horseshoe shaped road that would flood.😂 Gold doesn’t burn in a fire, nor does silver, they retain their qualities and melt, Silver has anti microbial properties the settlers put it in milk to keep it safe to drink, it is great as a coin to prevent disease transmission during trading. Also they don’t rust away! 😂

[@amireallythatgrumpy6508]

The very need for any form of money system is evidence of human stupidity, sweetheart. @@Triedandtrue44

[@DawsonCity]

Why do banks have tons and tons of gold?

[@amireallythatgrumpy6508]

They actually don't.

[@DawsonCity]

Well the central banks do. Why that?

[@ouaoua11]

Since a few years, central banks buy gold !

[@RaunakSharma-kv6my]

magical yellow rock

[@ryanshaeffer103]

Nothing wrong with owning a small portion of gold!

[@DrSchor]

he said cuff links are fine. do you need to listen again?

[@ihavetubes]

Own a little bit of everything, never go full in into anything that's how you lose money

[@pdchabs]

This hasn't aged well

[@damirapevec6203]

No it isn't.. And this podcast was only a year ago😂😂😂😂😂... Gold is the assets with true intrinsic value. Always will be

[@RabianskiT]

If you think „this hasn’t aged well” then you missed the point of the video. Cocoa (another commodity) went up even more than gold. I hope you sold your gold and bought cocoa 😂 Assents that produce income are the best and safest investments in the long run. That’s why stocks, bonds, family businesses and real estate should be the top priority for wealth creation. If you like collecting shiny coins or bars then cool, but you probably shouldn’t make it the center of your retirement strategy.

[@Constellasian]

@@RabianskiT Don't bother. People like pdchabs have been brainwashed into believing gold is "God's money". Sure, it's a metal that has held value since ancient times, but I think it's more of a way for flamboyant rich folks to flex their wealth. I had a coworker who was a believer in gold and that was what made up most of his portfolio. He also didn't believe in the S&P 500, so the contribution to his 401K was mainly in government bonds. I learned of this 10 years ago. His portfolio is currently far behind compared to other colleagues who have their 401K in the S&P 500. All the gold he has surely did increase in value, but it's far below the gains other colleagues made from other assets like real estate.

[@jelmerdevries7827]

Gold and the S&P have performed equally well since this video dropped. A mutual fund likely underperformed that a bit, but I don't think that's enough to say it didn't age well.

[@muskratman1395]

A large portion of Americans gdp is just printed dollars not goods and services.

[@jonasyracheta2185]

💯👏👍

[@bearjones6929]

Dave is owned and controlled by the system. He is an old timers Jim Kramer.

[@sunset6010]

BINGO WANGO TANGO

[@amireallythatgrumpy6508]

He owns the system. It does not own him.

[@bearjones6929]

@Am I really THAT grumpy?? that's hilarious. You think Dave Ramsey is above the central bankers the rule the world?

[@daveh6424]

I thought Jim Kramer was an old timers Jim Kramer...

[@amireallythatgrumpy6508]

That's hilarious. There's only one thing that rules the world, and that is the sun. @@bearjones6929

[@TCR2025]

Love dave but he is not understanding that the world has changed since 1988. He’s still stuck there

[@The.Dude.Abides.]

I mean Warren Buffet has the same view so I think Dave may be onto something here.

[@Robert-yk3ey]

You’re arrogant

[@TrevForPresident]

@@The.Dude.Abides. both have swam in the US global hegemony pool their whole lives.

[@thereplay5929]

In 1960 Price of gold: $36.50 Median family income: $5,600 (153 ounces of gold) Median cost of a house: $11,900 (326 ounces of gold) In 2023 Price of gold: $1,950 Median family income: $70,700 (36 ounces of gold) Median cost of a house: $416,000 (213 ounces of gold) The falling dollar parity.

[@amireallythatgrumpy6508]

Nobody with any credibility measures ANYTHING in ounces in the 21st century. If you don't want people to laugh at you, measure things in grams or kg like a normal human. Get with the times

[@thereplay5929]

@@amireallythatgrumpy6508 and that exact thinking is the reason why we’re in this monetary mess.

[@thereplay5929]

@@amireallythatgrumpy6508 and that line of thinking is the exact reason we’re in this monetary mess today.

[@amireallythatgrumpy6508]

Nope. At least I am thinking, which is more than 90% of America has ever done. @@thereplay5929

[@damirapevec6203]

Actually, they measure in ounces.. Billionaires measure it... Gold is in ounces, of course...

[@becauseisaac]

Mutual funds don't have magical qualities.

[@jonasyracheta2185]

Have third party risk magical qualities!

[@blackworldtraveler3711]

You won’t get hurt,deleted,or robbed over it.

[@jmoney6652]

Dave never understands the difference between an investment and money

[@DrSchor]

please; help us understand the difference. please explain

[@amireallythatgrumpy6508]

The difference is that investments exist, money doesn't.

[@WallOrange]

companys go bankrupt all the time. look at these once robust bank stocks. svb was doing well for sometime. your mutual funds are loaded with debt, so much for being debt free

[@AshwinSivakumar]

Gold is a very good investment option in other developing and small countries where their currency itself is not stable, but like Dave suggests not a good idea in US, in my country currency value vs dollar halved in 14 years, and price of gold went up 50%.. so had I bought gold in my country then I could have triples it in 14 years... But in US good value didn't outperform stock or mutual funds

[@Kane6676]

The average doo doo bird cannot understand what you are saying. They have been programmed with all these little slogans and sayings from the bullion pushers. It’s quite sickening really. They have been pushed by fear and panic marketing to blindly buy gold and silver and they feel they are “ outsmarting” everyone by doing so. In the end they die with a bunch of metals and their family sells it at estate sales. Seen it many times

[@gianthills]

because gold isn't meant to be an investment, but insurance. apples and oranges.

[@gordonmckenney4525]

My Gold has Tripled in Price since 2005!

[@gwilson664]

All fiat currencies go to zero, gold never has.

[@DrSchor]

when did the dollar go to zero.

[@amireallythatgrumpy6508]

Gold has always been zero. Always.

[@podawe8051]

Gold isn't an investment, it's a savings vehicle against inflation. No one buys gold hoping to make an ROI they buy it in hopes of hedging against inflation

[@jeffnunn4733]

I will take my golden rock and buy all of Daves real estate! 😂

[@Kane6676]

Might want to check the value first as the gold goes up and down much more than real estate. Real estate actually makes money where as gold just sits until you sell it

[@jeffpadilla9891]

I always heard your portfolio should have around 10% in precious metals.

[@CurieBohr]

I hear a lot of bad advice. Do your own research and don’t listen to fear mongers.

[@bc_usa]

​@wholecoinnerd2138 It has nothing to do with fear and everything to do with being smart. Haven't you heard of that old saying don't put all of your eggs in one basket?

[@SupremeGGstacker]

%100 you should always have precious metals

[@The.Dude.Abides.]

Yeah… from people who sell “precious” metals.

[@bigshoe84]

Do brass and lead count as precious metals? 😎

[@TheWhyme01]

Gold is just a piece of rock needed to build cars and iphones no big deal

[@Big-Daddy-96]

Gold and Silver are a part of a balanced portfolio and are a store of value and insurance for bad times. It’s highly portable, exchangeable anywhere in the world, and never loses value. Both have been valuable for thousands of years. Dave is wrong on this point.

[@mahmoodhassan1831]

Dave is on the agenda of the satanic goverments

[@HectorSnipes]

Considering the current market uncertainty, it appears prudent to consider investing in gold or stocks. I'm contemplating allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is enticing, I recognize the importance of maintaining a long-term investment strategy.

[@VictorBiggerstaff]

Gold is seen as a safe bet during economic ups and downs. But investing in stocks 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.

[@BateserJoanne]

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.

[@crystalcassandra5597]

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?

[@BateserJoanne]

’Rebecca Noblett Roberts’ is the manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@PennyBernadette]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@gregthorne3164]

Ramsey exposes his ignorance on gold. Gold has risen 37% in the past year since he emphatically told his listeners not to buy gold. In the past 25 years, gold has exceeded all the gains of the bull market in stocks.

[@timk8830]

PM has been money for 5000 years. Will he change his toon when SHIF?

[@amireallythatgrumpy6508]

Money has never actually existed sweetheart.

[@riderofthewhitehorse]

This aged well. It will continue to age well, like a ring of cheese.

[@C6903]

That yellow rock you speak so highly of is Gods money! Gods money is honest!

[@daleschnitzler3181]

Buy a mutual fund instead - great advice Daffy Dave. What is the success rate of actively managed mutual funds? Over a 20-year period, 95% of large-cap actively managed funds have underperformed their benchmark... Geez Dave wrong again, who would have thunk that?

[@Kane6676]

Are you insane ? Lol

[@SIP612]

The rate of return on 💎 diamond's is called marriage 🤣🤣🤣🤣🤣💕

[@nathanielb659]

Brilliantly stated.

[@PHILDRU911]

And they can be reproduced by machines.

[@Mr.Stines]

It is not a thing of fear but of protection for you and yours

[@amireallythatgrumpy6508]

Not really. If everything collapses, you're screwed whether you have gold or not

[@montyeason3973]

WHy are banks and countries buying gold?

[@OregonMBA]

Gold is a store of wealth, not an investment

[@enr1997widget]

I hope people do their own research and think for themselves, Dave has some good principles but he doesn’t understand the value of real money

[@pnoman316]

Silver and gold yes for the short term is a bad investment. However, as a hedge against inflation I still believe having a little bit of silver is a good idea. I'm thinking maybe 2%-5% of a person's wealth in silver might work. It's something that should only be sold if it goes up to $10 or so, more than you paid for it. This is because dealers are paid very well for their services. Also inflation is inevitable with the federal reserve printing paper money like they've been doing for decades. Although silver is pretty to look at, you can't eat it, and the price is up and down based upon supply and demand and other factors. This means that if the price goes up, people begin to sell, and then the price goes down. It's great entertainment, actually. Also most people will end up leaving it to their kids, because they afford to sell it. So keep the investment percentage resonable.

[@carmineoliva9744]

BAD BAD BAD EDVICE .. and you call yourself an investor

[@thechosenwon2207]

30% return each year on gold bought in 2000. $300 x .30 = $90 $90 x 20 years = $1800 The math doesn’t lie

[@chrissalley9468]

Dave should have told him to flush his money down the toilet lol

[@noconsentgiven]

Knowledge and wisdom is worth its weight in gold. Adequete amounts of both and you will not have to worry about having gold.

[@jayv9286]

Dave, you won’t have to worry about us buying gold much longer, the big banks are buying it all up.

[@Kane6676]

No they aren’t. That’s just more bullion dealer advertising

[@mikhacoffman4522]

@@Kane6676bullion is constantly being bought in huge quantities by funds, family offices, pe,

[@k8aik8ai]

@@Kane6676 BS. Look what other countries are doing. They're dumping the USD and buying gold - even they know what real money is.

[@GerardoLopez-xu9ft]

You are always right Mr Ramsey ! People that invest in gold are fools that think they are smart ! I have made a fortune in stocks and mutual funds !

[@learnuiarchitecture]

Gold miners guys, Dave’s asleep at the wheel