Another money video

[8wealthyone8]

So his saying dont put all your money in banks. Invest in other things but not precious metals like gold. Whats best stuff to invest in then exactly. Anyone know this? thanks

[Squeegee33]

When buying precious metals, do you keep it in your house somewhere safe or with the bank?

[MercuryReliance]

Good points. By purchasing actual physical gold, and holding it, you shrink M3 by removing the value of your purchase from circulation. It actually becomes YOURS... so long as you want it and you are breathing. It supports the idea of tenured ownership. What could be more ethical than being responsible for your own wealth?

[pigboykool]

Another excellent video of yours; I truly learn a lot from them. Thanks again and keep up the good job!

[WarmFreedom]

Please dont stop making money videos, as the economy does not stop changing, neither should our learning on the subject, I do enjoy your talks alot and find it very helpful, and wont complain if u continue to make money videos. tq!

[tetekofa]

- this is EPIC

[Brightonfuller]

Life seems like a dangerously believable monopoly game after watching this video. I can't afford too much gold even though I have a tiny jewelry business, but I just bought some silver and depleted my bank account a bit, but put more value on my jewelry bench. Thanks Lorax13

[jbichotte]

Where can i learn these things about saving through precious metals ... have any book suggestions ?

[davincij15]

Interesting how you feel that gold is unethical because we don't use it. Yet it is used for something we need.

MONEY.

When you consider that paper money cause us to expand and grow exponentially and be wasteful of resources it is clear to my the on a ethics scale of 0 meaning no ethics and 10 meaning very ethical paper money would be a ZERO and gold would be at 5.

[Textynn]

Do you always talk that fast or do you speed up the videos after you make them?

[afer24]

im not saying that you are a liar,you are very intelligent, but if you buy something of value (eg. Platinum Coins), wouldnt you pay with cash that would go through the cycle and returns to the government, which started when you paid for the value, and after you buy your value(platinum), all you can do with it is resell it, which it will most likely go up in cash value. So now your back with cash that you buy what with?

[lorax2013]

I agree you are basically forced to hold some currency - but you can often minimize the amount of currency you hold and the amount of time you hold it. People in Latin America for example are more aware of inflation and rarely hold currency any more than necessary. We just aren't as aware in the US because our inflationary theft is a little slower.

[warshingtonyank]

afer24..I think you're missing the point.Instead of keeping your money tied up in a bank, receiving small returns and geting taxed yearly. A great way to protect your finances is to hold on to precious metals. And if the dollar were to collapse the things that would have actual value would be property and commodities and such.

[curmosc]

what about copper?

[drewmandan]

Copper fluctuates much more heavily than gold and silver, because it's used a lot in industry.

[aodscarecrow]

Excellent video. 5 stars.

[rseveran]

Loren, I love all of your videos. I wonder: What if everyone did exchange their paper money for platinum? Would this be a major problem for industrial users of platinum? It would certainly be a major source of demand for Pt, and probably dramatically raise the price (though industrial demand is apparently quite weak at the moment).

Gold on the other hand, has very little actual use, and if everyone put their money in gold, little hardship would come to any industrial users.

[lorax2013]

I think that same basic effect occurs often. Usually the govt deals with it by changing the rules to discourage people from "hoarding". You can see it now with the govt refusing to mint bullion coins. But if the govt can't stop "hoarding" and the govt/banks (same thing) also refuse to return to sound money (or at least reign in inflation) then industry just has to pass on the commodity cost increases to consumers. Then inflation bleeds thru to everything forcing inflation/theft to be slowed.

[smolkasinferno]

Another interesting scam is those who sell real estate on the moon or mars. Who are those people to sell it to you? And who is dumb enough to pay for it? It I could move there in the future, who could enforce those 'bought' rights?

[faszika]

why not just do away with money? there are alternatives

[spectrumifs]

The best investment is the one you make in yourself. Provide a product or service that genuinely benefits mankind and you'll receive an abundance beyond what you can ever imagine.

[eurohim]

So, can you buy platinum coins like you can with gold? I was thinking platinum because of things like Fuel Cells and other industrial things need it.

[lorax2013]

Yes, you can buy Pt bullion coins easily. One of the many reasons I like it, besides great supply fundamentals, is the enourmous value it would have if (a big if) fuel cells happen to become next personal transportation paradigm.

[eurohim]

Yeah, silver is also a required catalyst in Fuel Cells. Here's hoping.

[heruursciences]

Right on about platinum. Look on Johnson Matthey's website and see how much stuff it's used in, now cross reference these uses with which we can "live without". Without Pt we'd be back to 1940's technology. Silver has similar ultra critical uses.

In contrast Gold is only used industrially as plating, specialty catalyst, and dentistry, with the lion's share for simple bling factor and "investment".

[FloodPower]

wouldn't it cost a lot of money to buy a decent ammount of gold/silver/ etc and then be really hard to use. I can see how this would be good for somebody older than myself... but do you have suggestions for, for example, a part time worker in high school saving for university? = D thanks for the video

[288911]

I started investing last year, just before my senior year of high school. I'm also saving for college. I recommend silver over gold, because the fundamentals of silver are far superior to gold. If you can't afford a large ammount, you can buy one ounce at a time by going to a coin shop. Silver is incredibly cheep when compared to historical inflation adjusted prices. Silver will appreciate so much in the next 5 years that any amount will be 'decent' when compared to those that don't have any.

[setadragon]

I do have to ask, why are presious metals so vauable if the economy fails??? you would think that other things like say food, water, shelter, would turn out to be more profitable. Simply because, no one can live off of gold (people have to accept it in return for what they will give) so either way you play it, everything is just a large guess. Guess right you make money, guess wrong and you lose it.

[setadragon]

Also, value is only in the eye of the beholder. Example a dollor's value is worth what the other person holds as fair. Same thing goes with metals. If a person does not want the mettal or if one country owns more of that metal than it has in the past then all that does is inflate or devalue it. Also, thank your for these videos =) I like how you ended it with the diference on the metals.

[CrazyKritty420]

presious metals have to be dug out of the ground, 1 ton of earth for every 1/2 oz of gold, platinum is the 72nd metal mined in the US, & is in powder form till it's seperated, silver is the only metal that is consumed & vanishies, paper money is printed with little effort, there is no differenece from a $1 an a $100 they cost the same to make!

[setadragon]

good point

[lorax2013]

It's an interesting question as to why gold has psychological value in nearly every culture. I have a theory but too long to go into here. If you really think everything will totally collapse I suppose the only valuable commodity will be a gun and bullets. I'd hope to have sailed away by that point.

[jayrp]

Precious metals are valuable because they are a good form of currency (that actually has value, unlike fiat money which is just pretty paper).

If the economy of the country where you live collapses and you move to another country, if you have gold you can buy stuff. If you have money from the country whose economy collapsed, no one will take it. I.e., that money is worthless whereas precious metals always ahave value.

If you had to immigrate immediately, could you carry 100 buckets of rice?

[LittlePoopyJimmy]

"You don't need Ron Paul to save you from the central banking industry."

That's the most astute observation made in this video. In fact, nobody needs Ron Paul at all, with his secessionist vision of making Roe v. Wade an issue for the states to decide, thereby undermining the federal government's ability to govern by the rule of law. I don't much buy into the domino theory, but in this case it's crystal clear.

[LittlePoopyJimmy]

Roe v. Wade would be the first "domino" which if it was left for the states to decide with no federal recourse, would precede several more dominos, leading to the REAL goal of Ron Paul - the disintegration of the United States. Ron Paul believes that the states are sovereign nations, intended to be loosely affiliated under the federal aegis, and that they are guaranteed the freedom to abandon that aegis as it suits them. That smacks of treason.

[GaleryonTheMystic]

If a state were to actually secede it would only do so on behalf of the will and consent of that state's people. If the people of a state no longer wish to be subjects to the rule of a nation, it is highly unethical to enforce upon that society national law.

[GaleryonTheMystic]

Despite what you may believe the United State's federal government enjoys no inherent right to rule you. The only legitimate relationship between state and nation is a consensual mutually benefecial one. The authoritarian relationship you believe should exist between state and nation is so explicitly illegitimate and so blatantly unethical, I find it hard to believe you have any morals at all.

[coultrane]

I agree...

[nibelungensohn]

Great video on money. Better than 98% of the stuff I've come across on youtube.

[lilbitparanoid]

I love the video and explantion of how people's savings are evaporating. The fed announced its plans to continue EMERGENCY credit auctions AS LONG AS NECCESSARY! This WILL

[lilbitparanoid]

Accidentally posted 1st time. This will cause hyperinflation and will leave the vast majority of the population wondering what happened to their purchasing power. In the 1970's, 1 silver dollar bought 3 gallons of gas; 2007, 1 silver dollar STILL buys 3 gallons of gas.

[wwood14]

Platinum is at 1475.00. Is that to high to buy into??

[wwood14]

I want to take my money out of investments, but the penalties(IRA) and higher tax bracket will really punish me. What do you recommend?

[lorax2013]

You may be able to switch your IRA investments to an ETF that holds metal. Not my preferred way of owning it, but perhaps your best option. It's never easy to invest freely under our system.

[LittlePoopyJimmy]

The Fed just cut the federal funds rate by three-quarters of a point. If that doesn't make it easy to invest freely you are either in the poor house or are totally incompetent in terms of both finance and economics.

[xinyster18]

Thank You

[mitchrix]

you seem to have alot more answers on getting rich rather than getting right....Good luck with that

[prince4878]

thanks clever man, very clear point of view.

[pookiecatblue]

excellent video, lorax, but why no more videos on money? there are many of us who sure can use your advice.

[joshrain1]

it is an asset and has value than paper money. besides metals, what other options are available.  i was thinking of saving paper currency overseas (what are your thoughts on that)? thanks!

[joshrain1]

i like your video and advice. i am interested in buying platinum/steel/gold? how do i start? if i do buy it, where do i go about storing it?

the prices are all time high now? will it fall once the ecomony gets stronger?  is it the right time to buy for investing?

my email is joshrain at gmail dot com.

thanks!

[GreenDesert]

I wonder what your opinion of day trading is. Perhaps you should do a video on that.

[SmirkingRevenge99]

Excellent Lorax.

[bubonicnate]

I checked out your book - i was thinking of making a vid review of it - all in all I enjoyed it! thanx!

[JohnnyOhio]

Thanks for all of your work!

[Fidigleo]

there are other things of value....consumer goods..?

[tonjg]

yes I agree. In times of hardship things like cigarettes and ammunition could be powerful currency. Also things like cotton and wool and charged-up batteries could take on great value.

[ZiggyStardust2329]

ditto ditto and ditto. only thing i disagree with you on is your status as the #1 ron paul supporter. thats debatable, lol.