futhermore ramsey and bernake and warren buffett have an agenda and gold would hurt their plans. why buy buffetts fund or if bernake liked gold the dollar would decline further. real estate is a bad investment. try selling a house. ramsey is a christian so far as it promotes his cause. just like George Bush and the war in Iraqi let us not forget. We were a christian nation and fighting against an evil relgion and regime. But the defense contractors ripped us off.
ramsey is a hyocrite. He advocates financial responiblity yet the US governement
the most irresponibile. Yet are dollars are back my the government why the f-ck would I want a currency that the government prints and spends money that they take in (tax revenues). If he advocated gold he wouldn't have any books to sell or anything to talk about on his show. Once again we have a christian who claims that his practices (financial advice) are spiritual.
Ramsey shows his ignorance here. Gold and Silver were never intended to be an investment, they were intended to be MONEY. And, for most of that two hundred years, gold WAS money. It has only been since 1971 (abolishment of the Gold Standard) that Gold and Silver have become an investment. Since then, Gold has increased by 3850% (77% per year), and in the last 10 years by 466% (47% per year). Ramseys analysis is obviously severely flawed. Fortunately, most intelligent people can see that.
i like Ramsey advice on finances, but he doesn't believe in conspiracy which is true FYI and i am not talking about the crazy ones like david icke and alex jones who use fear to get listeners.
@tito810 yeah, I am a Dave Ramsey fan overall, BTW. Follow his debt advice. You are right, he dismisses the fact that moneyed interests have been at the helm in America since late 1800's/Early 1900's, and they implemented the Fed.
@TheF4FS it's not just the late 1800s/early 1900s it's always been like that since mankind started civilizations. There's only been a few societies that the government did let their citizens do whatever they wanted to. The only thing was just to play taxes.
My silver has doubled in 18 months, meaning the dollar has been cut in half. Paper is based on faith, good luck. Gold and silver have never been worth NOTHING, but all fiat currencies eventually inflated down to "$0" guaranteed. Ramsey is wrong.
Dave is correct. Buy low sell hight. Sell all your gold & pay off your debt, buy realestate or buy undervalued stock in companies that manufacture goods rather than provide services (all of these are a better hedge against inflation). In a ecomomic colapse (Katrina is a micro example of this)gold has very little inherent value, while real estate where you can grow/store food (for example) does. In an inflated ecomomy stocks that provide real/necessary goods will out preform inflation.
@Wakespray1 yea, they where able to grow alot of food after Katrina! Goldhas always been used for money since the dawn of time. The key is to be diverified! Don't "just" have gold, but have some. Have food and things you use the most. Plus, invest in companies that everyone uses....Like toilet paper manufactors!
@Wakespray1 what happens to the stocks you buy in manufacturing companies when those companies get impacted by the economic collapse, laying off workers and slowed production. How do you grow and store food in real estate, does stored food pay rent on real estate. Im trying to understand the logic here.
Right on man! Dave sounds like a fool whenever he talks about gold. He said dirt could be used as money. Does he not understand the concept of having something that is rare. I prefer Silver by the way because we are looking at shortages and a lack of supply will make it's price scream.
Ramsey says Gold has appreciated only 1.5% since 1833. True but, for the 1st 99 years it was the money so, it stayed naturally stable around $18 because of market forces. The next 40 years it was artificially locked at about $35 so, it's dishonest to include those years to evaluate whether or not to buy it today! Look at it from 1973 when it became legal again to own.
Great presentation Jason. Dave Ramsey 's lines like "You will look redicules if you buy gold" and "your crazy if you buy and sell your own stocks. I don't even do that" are annoying to say the least . It's like a self serving store clerk saying your crazy for not buying a $30 extended service contract on a $100 electronic item.
Dave Ramsey is right! Money is based on faith and that's the problem although, it's clear he does not understand. It's amazing how he recommends listeners sell their gold jewelry by mailing an envelope without knowing how much they are selling it for. If that's not bad enough, he's promoting a vendor that he says is trust worthy. That's a suckers move if I ever saw one!
If you're in a company you can get in a 401k a lot cheaper than that. I think gold is too high right now FOR ME. Much like I think Google stock in way too high but I think Google is a great company. That being said, Gold has risen 15% or maybe higher since 2001 if Ramsey has said that it wouldn't then he was wrong. How much higher can it go (much like Google stock)? Does it all depends on the value of the dollar or supply and demand? Keep making videos and good luck.
@ElectricSwag If they are investing, they can afford $1,400. If you don't have $1,400 to invest, then you are probably on baby step one and two. Why is spending $1,400 on an ounce of gold more difficult than investing in a mutual fund, or investment real estate? However, the point here is not that anyone has to invest in precious metals, but simply that Dave has been completely wrong on what has turned out to be a 10 year bull market.
If you can't admit that some portion of the gold increase is because of 9/11 fears and extensive chicken-hawking, you're biased.
70%? That would mean 700 of the 1000 growth since 9/11 is fear-based. Considering before 9/11 and Fed fears, gold was 400 and had a low growth rate, Dave is in the ball park.
My advice to you gold pushers is to ignore Dave Ramsey. The more you mess with him, the more he'll push back. And he simply has a bigger microphone than you.
@TheGoalSetter First, I think Ramsey has a bigger bias than me. He has a financial incentive to pushed people toward real estate and mutual funds...his sponsors. I have none. Second, he certainly has a bigger microphone..and with that a bigger responsibility to give sounds advice. Third, real estate has been in tandem with inflation for 100 years EXCEPT for the housing bubble. Housing was in a bigger bubble than gold ever was, yet Ramsey pushed real estate. Ramsey says he avoids bubbles?
@thinkrink I suspected the same about DR, but could not find any way he profited from advising muties and real estate on air. In fact, I started following his mutie advice in 2007 and did much better than the DJ.
However, DR's ELP training classes are expensive. It costs to be in Dave's inner circle.
Agreed about the housing bubble. But there is a gold bubble...gold may not drop because there will be more years of fear, but gold bubbles have popped: early 80's and late 90's.
@TheGoalSetter Thanks for the comments. I should be clear that I am NOT questioning Ramsey's integrity here. He takes on sponsors that he believes in, and goes along with his philosophy. If he believed in gold, he would have sponsors. I think Dave's integrity is solid. Just wrong here. I think he has a blind spot due to his supply-sider, Chicago School Economics. That blind spot is the precious metals and the Central Bank. Anyway, good to know your investments have benefitted from Dave.
@TheGoalSetter...fort he record, I do think that some of gold's pricing IS fear based...but 70%? Not even close. Gold has been on a consistent, steady rise for 10 years. It has risen because the U.S. dollar has fallen in value. Fed fears? Well, the Fed has generated a lot of warranted fears because of it's monetary policy. Increase the money supply, and gold rises in value. That's just simple economics.
@thinkrink "I do think that some of gold's pricing IS fear based"
Just for saying that means you have some integrity. It's amazing how much gold pushers deny this. It just floors me.
And I agree that the supply of the dollar is being artificially forced down...which artificially pushes gold up. But this has been going on before gold blasted up.
The best selling point of gold is that it is a low risk investment. A single commodity is volatile, but not nearly as much as a single stock.
@TheGoalSetter Artificial?? The price of gold is reflective of the dollars value, period. The fear you speak of, is warranted. " The almighty dollar", as you would presume it to be, I assume, has lost 97% of its purchasing power since 1913. You want to be holding these to preserve wealth?? If you want to talk about "artificial" then you can look at the stock market and silver. Those are actively being manipulated on a grand scale.
Since I followed Dave's plan to get wealthy, I've saved up more in two years than the interest I've made in fifteen years in the market. I'm paying for education, skills, cars, etc. in cash instead of getting loans. Thus, my income increases while my cost of living decreases.
Not only will I NEVER borrow again, I will NEVER again hand money over to strangers for a promise (stocks, mutual funds, gold, etc.).
BTW: The average household is MUCH better off now than that of 1913
@TheGoalSetter Congrats on your self disipline to get yourself out of debt. As far as average household being better off than in 1913 is relative. We didnt have a $45,000 per citizen debt average stranglehold on our country. Its a fiat paper house of cards soon to come crashing down as well as world markets. To not have any PM physical holdings is to fully trust the government with our money and theyre doing a bang up job, too.
@geekstreat Iceland got knocked out and bounced back fine. The USA has survived nine depressions. Heck, Germany bounced back from their early 20th century monster depression quickly...and all without people relying on metals for currency.
The selective end of the world scenario where gold saves the day is just how the con men sell you gold. Even in the old West, knowledge, network, and hardwork is what saves you.
And the gov IS doing a great job...don't let the media lies fool you.
@thinkrink You are right. The US dollar was originally backed by gold until 1971, when the dollar was taken off of the gold standard. The federal reserve can print more money now. The more the federal reserve prints money, the more the value of gold will increase. Gold, silver, oil and other commodities are the only thing that protects against inflation.
This has been flagged as spam show
Do you realize you are describing a bubble at 1:57 ?
ChannelNiek 5 months ago
futhermore ramsey and bernake and warren buffett have an agenda and gold would hurt their plans. why buy buffetts fund or if bernake liked gold the dollar would decline further. real estate is a bad investment. try selling a house. ramsey is a christian so far as it promotes his cause. just like George Bush and the war in Iraqi let us not forget. We were a christian nation and fighting against an evil relgion and regime. But the defense contractors ripped us off.
ezdayth 7 months ago
ramsey is a hyocrite. He advocates financial responiblity yet the US governement
the most irresponibile. Yet are dollars are back my the government why the f-ck would I want a currency that the government prints and spends money that they take in (tax revenues). If he advocated gold he wouldn't have any books to sell or anything to talk about on his show. Once again we have a christian who claims that his practices (financial advice) are spiritual.
ezdayth 7 months ago
Ramsey shows his ignorance here. Gold and Silver were never intended to be an investment, they were intended to be MONEY. And, for most of that two hundred years, gold WAS money. It has only been since 1971 (abolishment of the Gold Standard) that Gold and Silver have become an investment. Since then, Gold has increased by 3850% (77% per year), and in the last 10 years by 466% (47% per year). Ramseys analysis is obviously severely flawed. Fortunately, most intelligent people can see that.
KDanagger 9 months ago
Thanks for the video! I agree with you 100% I love Dave, but Peter has been so right.
777ceci 10 months ago
i like Ramsey advice on finances, but he doesn't believe in conspiracy which is true FYI and i am not talking about the crazy ones like david icke and alex jones who use fear to get listeners.
tito810 11 months ago
@tito810 yeah, I am a Dave Ramsey fan overall, BTW. Follow his debt advice. You are right, he dismisses the fact that moneyed interests have been at the helm in America since late 1800's/Early 1900's, and they implemented the Fed.
TheF4FS 11 months ago
@TheF4FS it's not just the late 1800s/early 1900s it's always been like that since mankind started civilizations. There's only been a few societies that the government did let their citizens do whatever they wanted to. The only thing was just to play taxes.
tito810 11 months ago
Gold =value, silver=money. PAPER=NOTHING!
450984 11 months ago
My silver has doubled in 18 months, meaning the dollar has been cut in half. Paper is based on faith, good luck. Gold and silver have never been worth NOTHING, but all fiat currencies eventually inflated down to "$0" guaranteed. Ramsey is wrong.
mattandpatti222 1 year ago 2
Dave is correct. Buy low sell hight. Sell all your gold & pay off your debt, buy realestate or buy undervalued stock in companies that manufacture goods rather than provide services (all of these are a better hedge against inflation). In a ecomomic colapse (Katrina is a micro example of this)gold has very little inherent value, while real estate where you can grow/store food (for example) does. In an inflated ecomomy stocks that provide real/necessary goods will out preform inflation.
Wakespray1 1 year ago
@Wakespray1 yea, they where able to grow alot of food after Katrina! Goldhas always been used for money since the dawn of time. The key is to be diverified! Don't "just" have gold, but have some. Have food and things you use the most. Plus, invest in companies that everyone uses....Like toilet paper manufactors!
zekehooper 1 year ago
@Wakespray1 what happens to the stocks you buy in manufacturing companies when those companies get impacted by the economic collapse, laying off workers and slowed production. How do you grow and store food in real estate, does stored food pay rent on real estate. Im trying to understand the logic here.
standinginnothing 10 months ago
Right on man! Dave sounds like a fool whenever he talks about gold. He said dirt could be used as money. Does he not understand the concept of having something that is rare. I prefer Silver by the way because we are looking at shortages and a lack of supply will make it's price scream.
MoneyBags73 1 year ago
This has been flagged as spam show
Ramsey says Gold has appreciated only 1.5% since 1833. True but, for the 1st 99 years it was the money so, it stayed naturally stable around $18 because of market forces. The next 40 years it was artificially locked at about $35 so, it's dishonest to include those years to evaluate whether or not to buy it today! Look at it from 1973 when it became legal again to own.
Joeys48 1 year ago
where do you get your sources on the current standing value of gold? thanks and how do you but them
FoolishInTheEnd 1 year ago
Great presentation Jason. Dave Ramsey 's lines like "You will look redicules if you buy gold" and "your crazy if you buy and sell your own stocks. I don't even do that" are annoying to say the least . It's like a self serving store clerk saying your crazy for not buying a $30 extended service contract on a $100 electronic item.
Joeys48 1 year ago
Dave Ramsey is right! Money is based on faith and that's the problem although, it's clear he does not understand. It's amazing how he recommends listeners sell their gold jewelry by mailing an envelope without knowing how much they are selling it for. If that's not bad enough, he's promoting a vendor that he says is trust worthy. That's a suckers move if I ever saw one!
Joeys48 1 year ago
Have fun in your paper debt canoe.
geekstreat 1 year ago
If you're in a company you can get in a 401k a lot cheaper than that. I think gold is too high right now FOR ME. Much like I think Google stock in way too high but I think Google is a great company. That being said, Gold has risen 15% or maybe higher since 2001 if Ramsey has said that it wouldn't then he was wrong. How much higher can it go (much like Google stock)? Does it all depends on the value of the dollar or supply and demand? Keep making videos and good luck.
ElectricSwag 1 year ago
The average listener can afford gold at 1400 dollars an ounce?
ElectricSwag 1 year ago
@ElectricSwag If they are investing, they can afford $1,400. If you don't have $1,400 to invest, then you are probably on baby step one and two. Why is spending $1,400 on an ounce of gold more difficult than investing in a mutual fund, or investment real estate? However, the point here is not that anyone has to invest in precious metals, but simply that Dave has been completely wrong on what has turned out to be a 10 year bull market.
thinkrink 1 year ago
idiot
exactapp 1 year ago
If you can't admit that some portion of the gold increase is because of 9/11 fears and extensive chicken-hawking, you're biased.
70%? That would mean 700 of the 1000 growth since 9/11 is fear-based. Considering before 9/11 and Fed fears, gold was 400 and had a low growth rate, Dave is in the ball park.
My advice to you gold pushers is to ignore Dave Ramsey. The more you mess with him, the more he'll push back. And he simply has a bigger microphone than you.
TheGoalSetter 1 year ago
@TheGoalSetter First, I think Ramsey has a bigger bias than me. He has a financial incentive to pushed people toward real estate and mutual funds...his sponsors. I have none. Second, he certainly has a bigger microphone..and with that a bigger responsibility to give sounds advice. Third, real estate has been in tandem with inflation for 100 years EXCEPT for the housing bubble. Housing was in a bigger bubble than gold ever was, yet Ramsey pushed real estate. Ramsey says he avoids bubbles?
thinkrink 1 year ago
@thinkrink I suspected the same about DR, but could not find any way he profited from advising muties and real estate on air. In fact, I started following his mutie advice in 2007 and did much better than the DJ.
However, DR's ELP training classes are expensive. It costs to be in Dave's inner circle.
Agreed about the housing bubble. But there is a gold bubble...gold may not drop because there will be more years of fear, but gold bubbles have popped: early 80's and late 90's.
TheGoalSetter 1 year ago
@TheGoalSetter Thanks for the comments. I should be clear that I am NOT questioning Ramsey's integrity here. He takes on sponsors that he believes in, and goes along with his philosophy. If he believed in gold, he would have sponsors. I think Dave's integrity is solid. Just wrong here. I think he has a blind spot due to his supply-sider, Chicago School Economics. That blind spot is the precious metals and the Central Bank. Anyway, good to know your investments have benefitted from Dave.
thinkrink 1 year ago
@TheGoalSetter...fort he record, I do think that some of gold's pricing IS fear based...but 70%? Not even close. Gold has been on a consistent, steady rise for 10 years. It has risen because the U.S. dollar has fallen in value. Fed fears? Well, the Fed has generated a lot of warranted fears because of it's monetary policy. Increase the money supply, and gold rises in value. That's just simple economics.
thinkrink 1 year ago
@thinkrink "I do think that some of gold's pricing IS fear based"
Just for saying that means you have some integrity. It's amazing how much gold pushers deny this. It just floors me.
And I agree that the supply of the dollar is being artificially forced down...which artificially pushes gold up. But this has been going on before gold blasted up.
The best selling point of gold is that it is a low risk investment. A single commodity is volatile, but not nearly as much as a single stock.
TheGoalSetter 1 year ago
@TheGoalSetter Artificial?? The price of gold is reflective of the dollars value, period. The fear you speak of, is warranted. " The almighty dollar", as you would presume it to be, I assume, has lost 97% of its purchasing power since 1913. You want to be holding these to preserve wealth?? If you want to talk about "artificial" then you can look at the stock market and silver. Those are actively being manipulated on a grand scale.
geekstreat 1 year ago
@geekstreat
Since I followed Dave's plan to get wealthy, I've saved up more in two years than the interest I've made in fifteen years in the market. I'm paying for education, skills, cars, etc. in cash instead of getting loans. Thus, my income increases while my cost of living decreases.
Not only will I NEVER borrow again, I will NEVER again hand money over to strangers for a promise (stocks, mutual funds, gold, etc.).
BTW: The average household is MUCH better off now than that of 1913
TheGoalSetter 1 year ago
@TheGoalSetter Congrats on your self disipline to get yourself out of debt. As far as average household being better off than in 1913 is relative. We didnt have a $45,000 per citizen debt average stranglehold on our country. Its a fiat paper house of cards soon to come crashing down as well as world markets. To not have any PM physical holdings is to fully trust the government with our money and theyre doing a bang up job, too.
geekstreat 1 year ago
@geekstreat Iceland got knocked out and bounced back fine. The USA has survived nine depressions. Heck, Germany bounced back from their early 20th century monster depression quickly...and all without people relying on metals for currency.
The selective end of the world scenario where gold saves the day is just how the con men sell you gold. Even in the old West, knowledge, network, and hardwork is what saves you.
And the gov IS doing a great job...don't let the media lies fool you.
TheGoalSetter 1 year ago
@TheGoalSetter the reason why germany had a currency crisisin the 20's was because their gold was confiscated!
krillin876 1 year ago
@thinkrink all it takes is the fed to sell all our gold and the price will drop.
GotBizzyPk 9 months ago
@GotBizzyPk I doubt the Fed has any Gold to sell. Has anyone been inside Fort Knox lately?
Joeys48 8 months ago
@thinkrink You are right. The US dollar was originally backed by gold until 1971, when the dollar was taken off of the gold standard. The federal reserve can print more money now. The more the federal reserve prints money, the more the value of gold will increase. Gold, silver, oil and other commodities are the only thing that protects against inflation.
BASS0000000000888888 4 months ago
Very well spoken. Thanks for your efforts.
ricthuse 1 year ago