👋Welcome fellow Idiots, Losers and Morons!! Thank you all for watching. YT doesn't like this one again and is keeping it off the main timeline because I used the word "moron". Appreciate you putting up with my insensitive, dirty words. 🙏🙇
I proudly consider myself in good company. Precious metals will not bankrupt or default. They ARE wealth. To each his own, but I am proud to concur with folks like Bill Holter, Andy Schectman, Rafi Farber, Rick Rule, Robert Kiyosaki, etc... Gold is a Tier 1 asset. How are those Treasury Notes working out for people....why are so many nations dumping them? Why are the BRICS nations buying so much gold and silver? Why did the BRICS nations announce that their "Unit" currency would be backed by 40% gold??? Why have the big banks been buying so much gold? If this is what a moron looks like, I wear the crown with pride! 😂
Ha! Before coming to this video, I just watched one of my favorite TH-camrs explain her THREE-YEAR fight with TH-cam over monetization. Three years of her income is now going to a random, unaffiliated company. Just because of a background song she used (and purchased) for all her videos. Tread with caution for all TH-camrs. X will replace TH-cam soon.
As a "boomer" don't put too much faith in what I have to say. You'll learn your own life lessons over time, just like the rest of us. Of all my investments, accounts, etc, the metals that I have accumulated are the only "money" that I'm not worried about.
I agree. I’m debt free and have a sense of peace with G&S. I don’t lose sleep if it goes up or down, unlike the stock market. US financial system worries me!
I am 64 years old. I have had many hobbies. I stack as a hobby. It is the only hobby that I have ever had that I did not loose 25% to 50% as soon as i spend money on the hobby.
I've said it before that D.R is great for financially illiterate people who are in a mess financially and need to get out of that hole... Once you're out of the hole his advice has always seemed lacklustre at best or just plain stupid at worst. His opinion on gold and his preference for cash is definitely in the latter group.
Sure, if you choose to remain in paper until the music stops & you're drowning, he's there as agent of the state to throw a life raft and keep the masses confident in the fake paper system. And to sell his books. How much you paying for groceries compared to a few years ago? For a home? Get my point?
I used his debt snowball to clear out all my student loans, car loan and other debt. That's good advice. Yet I objectively knew his advice on gold/silver was ridiculous when I heard it even though I wasn't a stacker at that time. History is a great teacher. Here I am. I just bought more gold and a little silver on that dip yesterday. If I look at the value of my metals from the past until now, there are almost no assets that performed better....
Now that he's fooled so many into Blackrock type money funds, look who's buying up all the properties, causing them to skyrocket? Anyone couldn't giving Biblical advice for being irresponsible with money. I remember Ramsey when he first started out but never needed his saving. Many get into trouble because of all the honey traps laid out there by the very system Ramsey worships and encourages.
"Money is Gold and nothing else" - JP Morgan 1914. Elites know all else is a fake paper scam for the masses to skim they're sweat equity. But what they won't tell you, is that silver is the ultimate money for the people. Silver will save the people. So they crush the silver prices the hardest for half a century. Now silver supply's being depleted at an alarming rate. They're raiding the vaults to keep Comex from crashing. But demand is compounding by the solar panel race. Ramsey's books will continue selling as silver supplies near exhaustion. My projection is, Ramsey will update his book and add a section on gold and silver investing. But will be too late. Each time he attacks gold investors, he looses respect & usefulness
Dave doesn’t sell investments. He sells his steps. His steps worked well for us and we went through them all in 7 years just like he said. His plan worked! The more we deviated, the more we got delayed until finally we sold one of our houses to pay off the remaining mortgages and got several hundred thousand dollars on top of that. I wish I converted that gravy to gold right at that time… It was 2020 and I still have some of that cash in treasuries which suck! Dave and his ilk are acutely aware that there is not enough gold on the planet to back up their funny money. So he’s heavily in real estate and nepotism which is not for everybody.
except all the gold firms with too good to be true offers they are likely scamming retirees with, seeing one advertised on newsmax even, odd its never a bullion dealer you can buy from without calling.( they dont want anyone to see they are charging near 2x spot)
The key to everything is looking at what Dave's strengths are. Macroeconomics isn't something he understands or has any real education and experience. The idea is to find people who have some kind of education and training and most importantly no bias when providing their advice. The other thing is consider advice from a number of different well educated, trained, and experienced people without biases.
@@audiophileman7047 what’s the education/indoctrination? I find that most of the educated folks really have no clue what they are talking about. Been on Dave’s channel for a while and he’s way more “educated” about common sense stuff. More so than I have ever heard come out a collage or our government that ms. Janet or mr. Powell backs. Thoughts?
You are right gold does protect against currency risk. In 1981 I spent 100 Iraqi dinars to buy a 100 dinar gold coin, which was 0.766 oz gold, which I still have and I also have a 250 dinar bill. Today the coin is worth $1890 and the 250 Iraqi dinar bill can’t be cashed anywhere and aside from having questionable collector value, isn’t worth anything.
Dave is a fool. I remember him making an argument against gold by saying Iraq switched currencies and didn't go to gold. How can he not realize the people with gold still had their wealth after a currency change, while those who only held the previous Iraqi currency were wiped out? He essentially made the argument for gold without even realizing it.
Dave Ramsey has wonderful advice when it comes to getting out of debt. Once you're out of debt, his advice on saving/investing is questionable at best. The way I see it, you can only do three things with money: 1. Spend it 2. Invest it (Includes speculating, gambling, etc.) 3. Store it I agree that we don't want to spend it all. The question is what to do with what we don't spend. Dave says to store enough for emergencies, and invest the rest in index funds and forget about it. I'd say it's better to eliminate the inflation risk and counterparty risk and store it in PMs. Then invest in yourself -- learn some new skills, purchase equipment that makes you more productive, start a business, etc.
I agree with all of the above....but i believe that ramsies advice is only applicable in normal times...like pre 2020. I believe americans and even people accross the world are under attack...so precious metals today make more sense than ever.
The 1st gold I ever bought was 5 Canadian Maples for $1184 each, including premium. It's done VERY well and my wife no longer complains about me "spending all that money" on gold. IMO, it's not spending, it's merely converting soft fiat currency into hard metallic money. It can be converted back again at any time. This is for boosting our retirement income when it needs a boost and for making sure that we can always pay our property taxes. If hard times come, that can be bad enough all by itself, without also becoming homeless over it.
I bought a few ounces around $650. I bought quite a few around $850. I remember starting to get hesitant around $1100-1200, but I bought then too. It’s ALL good. If I had to do it again, I’d only buy more! Yep, I’m a “moron” for buying an early ounce for less than $600 when it’s quadrupled now. Yep, definitely a moron. 😂
Fiat currency is eventually dead. People moved west in the 1800s-re: "49ers" hence the "Double Eagle" then the St. Gaudens in 1907. They were tough, individualists...Risking everything to find the yellow metal-many were successful-many were not- Dave Ramsey would have been a chicken- easterner buying up buffalo hides, or making furs... or even jewelry, from the gold the adventurous type found. The dollar will crash-maybe tomorrow or maybe not in chicken Daves lifetime. The point is my wealth, that I will never have to use is not in the bloated markets, not in "air" squares ( Bitcoin) etc but in precious metals. They have been precious for thousands of years- survived market crashes.. fiat crashes and are in limited supply. I have real estate also-land will always be worth something. Not sure about Bitcoin when everyone of "faith" trying to get rich buying AIR - runs to cash out before the next Crypto geek- I know you will disagree- but face it- Crypto is only FAITH that you can get out before there is the inevitable " run for the exit door"- as a millionaire on someone elses faith. Gold is tangible as is Silver -diamonds, rubies, emeralds etc etc. If I can accumulate ///any extra money I have it will be in something tangible and proven for millennia. Dave can have his stocks and Crypto etc-- but it only takes a run on the banks or a grid failure or destruction to wipe him out...not a real SHTF scenario-a probability !! Even if I am wrong for awhile... Gold will prevail and is the best "bet" on this planet...no matter how long it may take. Dave is a fool and a moron. 😂
Dave is a bit too arrogant and condescending for my taste. If I listened to him I would not have bought a home in 2019. Now sitting on a 2.8% 30 year with a $989 a month payment. 15 year mortgage or nothing is terrible advice.
@@bobsacamano7653it’s unrealized loss tho essentially. If it horrendously over then site heloc all you can cash it out and dump your credit score by bankruptcy. Thousands will do such. It’s bitch of em tho. Very few will stick it out. Worth working with the bank under threat of defaulting otherwise.
Double payments, work magic to the principle going down fast! I did the same for my mom's home, and paid her mortgage off in less then 6 years, 14 years early
I agree with Dave 99.99% of the time. And, because of Dave I paid off our mortgage eighteen years early and all debt seven years ago. However, because I have held significant capital in gold and silver, I have been my own bank for the last sixteen years. Precious metals paid off my mortgage, rescued my son's mortgage when he was out of work for eighteen months. And, it became cash for other large purchases. And now that I am unemployed, silver and gold have become food and necessities (and peace of mind).
Wow what a great story.....just recently i surmised there are only 2 things i have never lost money on and thats land and precious metals....20 year stacker here.
Gold and silver have been great for me for the simple fact that after a certain amount of time I just feel like spending money. Used to buy dumb stuff that had no value. I buy stocks but you can easily turn around and sell them. Gold and silver are a little harder because one way or another I would have to get up off my butt and go to my local coin shop or post office and I don’t ever do that. So it gets that itch satisfied to buy stuff, it appreciates in value and while it’s easy to sell it’s not that easy.
Ben Franklin said , " A penny saved is a penny earned " . I have always taken that saying to heart . When I was a highschool kid back in the early 70's . I worked at a large grocery store. When I would get the chance to work the check outs I would always go through the change and buy for face value 90% / pre 1965 dated silver. I often spent a good chunk of my pay checks this way. It was how I saved money and still do. I have 90% to this day from when I was 15 years old . Guess I'm an idiot ! Good call . . . . Dave !
Hey big man always a pleasure , I missed you on my suggested youtube page , found you on a clip and subscribed , I converted some yellow metal 2 months ago to buy a truck , no interest , no loan , and made money , now I'm replenishing my yellow metal , So I guess I fall into all of the above category , I'll convert anytime both ways and I'm still good . I don't have the funding you do so my scale is smaller , but it fits my needs . I owe nothing , so I'm in a unique situation unlike a lot of people , my next conversion will be for land , no interest , no loan , no payments , call me crazy , but it works for me . Take care , and you give much better advice than The Dave ever will .
@@2is1gold , ahh , the thought police must be watching , several channels I watch have mentioned rule changes and more infractions lately . I'll keep watching anyway , take care .
@@tomstone6247 IMO, YT will keep pushing their woke insanity until it breaks and there is a mass exodus from YT to Rmbl. Such things happen sometimes and when they do, it's always a big shock to those on the receiving end.
Debt can be leveraged worthwhile for the investor when done right. Everyone listening to Dave tho is the polar opposite of that person tho 😂🎉❤ it’s not for everyone is how I see it.
I worked in Argentina in the late 90s and it's peso was the linked to the USD 1:1. When I visited a few months ago, 1 USD bought me close to 1,000 pesos. If you had bought gold in 1995 then, presumably, you could sell it for dollars or a lot more pesos now and have preserved your spending power. You could argue that you could also have safeguarded yourself by investing in foreign assets (or moving abroad, as some of my friends did) but this is still a diversification play - not fundamentally different than holding a small portion of your wealth in precious metals.
As per usual, well thought out and well articulated. One reason for stacking not covered here, is just being fed up with the financial system. Just choosing an alternative that doesn't include paying fees to fund managers to invest in a propped up market, or lending capital to banks that give you a pitiful return while the prey on the weak or undisciplined souls who borrow their lives away. There's something freeing about the idea of just opting out of the system to the extent it's possible.
After I retire, I'm hoping I live long enough to sell off all of my stack on the things I love to do. Ideally I will sell my last coin the week before I leave this world. Thanks as always for the insight brother. Keep up the hard work.
@@virginiatrudeau7023 besides trading a couple 100 oz of silver for gold I've never tried to sell any yet. I've still got 112 weeks left till I retire and start selling it off. There is only one local coin shop in the whole state and it is 450 mi away so I've built my whole stack buying from the online bullion houses. So to make a long story short I don't really have much of an exit plan yet. Maybe I'll do some business with Harry's coin shop in Portland.
Ramsey said to have 3 to 6 minutes months of cash available in case of a rainy day. If you have that in precious metals, how is that worse than cash? Inflation will eat the value of your fiat currency but you are better protected by precious metals. Is it as liquid? No but that is not necessarily a bad thing
I haven't listened to the Ramsay in a long time but I'd wager he'd never say owning too much real estate or stocks would be greedy. This leads me to think he likes to pump his own bags and feed the broker fee cartel.
What's Dave Ramsey saying about Gold now. He probably wishing he bought some years ago. I think his clients should make him buy fractional gold and tell everyone that he is sorry.
"Money is Gold and nothing else" - JP Morgan 1914. Elites know all else is a fake paper scam for the masses to skim they're sweat equity. But what they won't tell you, is that silver is the ultimate money for the people. Silver will save the people. So they crush the silver prices the hardest for half a century. Now silver supply's being depleted at an alarming rate. They're raiding the vaults to keep Comex from crashing. But demand is compounding by the solar panel race. Ramsey's books will continue selling as silver supplies near exhaustion. My projection is, Ramsey will update his book and add a section on gold and silver investing. But will be too late. Each time he attacks gold investors, he looses respect & usefulness.
He’s definitely got gold, silver & all types of metals. He had to make his $. I agree with paying your debt off. Anything else he has to say .. no thanks. He never mentions prepping & stocking gold & silver because our dollar has lost value & is losing value.& will be worth $0!
Dave had helped sooo many people. Has something that is proven and true. Most people don’t have a plan and need something that will work. So many people start on his plan and then go a different route. He will congratulate your success.
2is1, I know you couldn’t stomach it for more than 19 seconds but a debate between you and Dave would honestly be a breath of fresh air. Get someone in that can provide some cool headed pragmatic opinions to him that would cause him to back up his opinions would be great. I’d pop some popcorn for that one for sure. Cheers man.
It works for the unhoused of California. If I had a heroin habit that was $50-$60 per day, rent is simply too expensive. Of course, it does beg the question, is heroin really worth it? To the best of my knowledge, all heroin users agree that it definitely is.
ROFL, love that video 😂 I loved Dave's content years ago, because I'm the same like him in essence - that's how my mother raised me. But I absolutely hate it when he bashes on people who buy gold and bitcoin. For me, for years, it was literally much easier to buy physical gold than to deal with the stock exchange.
Last year i had an incident where i needed 6k for dental. Dental is not an insurance policy claim in auto accidents The hit i took fractured 13 teeth. But my pms paid it in cash and i got great care for paying up front.
@helenkessler6012 - ouch! Sorry to hear that, but great pms helped you out. I knocked out teeth worth 4 grand last year, but my insurance grabbed the entire bill, phew! 😀
You talk about the S&P 500 and only if you play it perfectly you'll be at 10.2% but most people do not play the stock market perfectly so therefore that's more of a made-up number
I agree if you're "playing" the market. But what about those of us who have long-term holds on our core positions? That's likely to be a better comparison. Two of my long-term core positions are VHT and VIG. I had these as mutual funds before they became an ETF. Both have done real well over the past 20+ years. Both have had a bad year from time to time but on average do pretty well.
Ramsey is right about low debt and living on a budget. These two things have allowed us to save in many circumstances. But he never addresses the insidious nature of inflation, how fiat is infinite, how gold and silver are finite, how they are biblical money. He sees market-go-up so green=good. Hyperinflation will show him to have led millions down the road of a lie, including himself.
I've been able to pay off my house and have had zero debt for most of my life (other than a home loan). That said I'm not Dave Ramsey's biggest fan. I wonder how the lawsuit against him is going. Anyway, he can feel free to call me whatever he likes, the metals that I purchased have been there for me when I've needed them. Regular purchases and a plan that I stick to (with metals and investments) has meant that I'm in a better situation than many of my contemporaries. I'm pretty sure that's worth something, even to him
Maybe you should ask Dave Ramsey is the dollar losing purchasing power. And then maybe you should ask him is gold losing purchasing power and yes I know gold doesn't go up in value the dollar goes down in value
Those of us who rode through 2007-08 but did not sell any shares and continued to buy more shares did very well. Like riding on a roller-coaster, only those who bailed out during the ride got hurt. But I do agree that that time was gut wrenching. So was 1986 and 2001. By the time 2008 rolled around, I'd seen that movie before and was pretty sure how it would end. It did. The same thing happened in 2020 but by then I was ready for it and put a bunch of money into 2 high tech ETFs that did VERY well. Bought in March, sold in early December, made 75% profits that found their way into the stack.
Not sure... I have several stacks for different reasons... one of the emergency fund, one has a pass it down to the kids fund, an investment fund that's going to be used to buy a house or land, and then we have a stack for life inc, which helps pay for funeral cost, but also have my retirement fund in gold, which is for traveling and so forth (come on 2030 - 2033😂).... yeah I might be overthinking it a little bit too much but in the long run, I'll probably still be doing better than about 80% of the population in the end and if anything ever happens to me my wife has money the f*** around with
I stacked silver heavily before the price spiked early this year. I later sold most of it and built an off-grid cabin. It was a great way to save since the extra step of having to liquidate it kept me from just blowing it on other things.
Funny one, great show! I'm 15% King of my fantasy apocalypse. And 85% aspiring idiot. I don't really get too attached to the metals. So I'm always open to sell when needed. I also see it as diversifying personal savings. However, that 15%... For me, it kind of makes it fun. And, at least I can tell myself, Neil Howe's "Fourth Turning" cycle theory backs my crazy. 😅 Great show, again thank you!!
Gold is a tier 1 assest. It can be pledged as collateral for a line of credit with a bank , which is a good way to access liquidity and avoid cap gain taxes if you need for short term funding.
Dave Ramsey's opinion doesn't carry much weight with me - but it's an interesting exercise....I used 3 -- 1/10 oz gold coins for some wristwatches I liked - I think they were worth the trade....I would do the same for other watches to add to my collection
Lived in one of the small Baltic states during USSR, during its crash and into EU times. Witnessed lots of people losing ALL their savings as their rubles they have amassed in their "knizhka" account (a savings account) evaporated overnight. Then the same repeated with conversion of rubles to the temporary currency - people got duped real hard. And finally, to a lesser extent, when converting the national currency to euro. Metals did great in that time! Metals like copper, palladium, platinum and few others did great! Would write more but this is a public forum :)
Dave helped me out greatly with financial peace Univ, the baby steps, and debt snowball. However he is totally wrong on gold/silver...and very outdated on paying cash for everything!
I listen to Dave Ramsey everyday and even though I don’t agree with everything he says. He has changed millions of peoples lives by following the baby steps
As a retired boomer I used principles similar to Ramsey's to accumulate a very comfortable retirement estate over 40 years. This throws off much more income in fiat money than I need to live in a style I find most agreeable, so I don't criticize those principles. However, in recent years I started to worry when I found that there was no good place to reliably park the surplus fiat retirement income. Most "safe" vehicles yielded returns that were very far below current roaring rates of inflation so that in real terms that surplus was diminishing in terms of buying power. I started stacking gold and silver to preserve that buying power against future consumption and/or investment needs and to have a different, additional, store of wealth that may be a more valuable asset to leave to my heirs.
He stays in a specific lane, and I think that advice makes a lot of sense. There’s also a constant on ramp to that lane, so his advice stays relevant. It’s when people exit that lane that it becomes hit or miss. Cheers!
I use gold and silver as a protector against inflation, also it's a great hobby. I don't look at gold or silver as an investment or a plan for an apocalypse lol.
I have been called worse by better, lol. So being called a idiot holding pre 33 I have sub 900 an ounce into it I guess. I feel I am in a good group of idiots! Not am I a idiot because well I am still buying🤷♂️🤣
Remember he also said that there won't be a housing crisis can you add prices have dropped nationwide at least by 8% already and that's what happened during the global financial crisis of 2008 and prices are still heading down as we speak
Water, food, shelter, necessary preps, a means to protect, and PMs are the icing on the cake. With that said being prepared for eternity, PRICELESS... Shalom in Yeshua Mashiyach of Netzaret!!! Baruch Haba B'Shem YeHoVaH!!! Eliyah Ben Yisrael 🤗
The reason I started in gold was to have an asset outside the “system”. Govt can take your property, banks can freeze or limit access to your money, stocks can be “non tradable” if the “exchanges” go off line for same reason, same with bitcoin coin if the internet goes down or govts restrict what sites you can access. Something to think about when considering what assets you are acquiring.
One needs to apply critical thinking skills to anyone online suggesting what is a good and bad idea about where to park your money. Graham Stephan, another respected finance You tuber, has been a guest on the Dave Ramsey show but he also pushed FTX and Yotta bank. FTX flat out failed and anyone with an account at Yotta bank lost access to their funds.
thanks as always for your videos. I was wondering if you could do one sometime on IRS reporting for capital gains on gold? In specific, the 1099-B form. How does the IRS know whether you sell for a gain or a loss? In other words- is it possible to pay capital gains on gold even if you sell it for roughly the same price you bought it at? thanks in advance!
@@2is1gold I'll look for it thanks. My question was moreso on the dynamics of what to report and how when you sell- regardless of where you bought it at spot-- if that makes sense. I'll look for it thanks again
Hey, lucky me....I hit all of the categories. My thinking for owning, and yes holding gold, covers all four of Dave's boxes! A few OZs that I'd be happy to sell (safe box) , spent too much (idiot box) , Got some I'd never sell that are some series coins (loser box), and yes, I even have some volume that I would never sell as it is marked for my kids (MORON Box) I buy and hold gold for every reason mentioned thus hitting all boxes. I say if the shoe fits, wear it... and I do PROUDLY.
According to Ramsey, I qualify as a moron. What Ramsey did not factor was those of us who have more fiat coming in than we spend and other investments.
Agreed! Those of us who own gold and silver quite often also have additional financial assets other than just PMs. Even those who only have PMs still have some excellent reasons for owning PMs. Maybe it's their savings, their emergency fund, their inflation hedge. I know that I sleep better with a diverse portfolio of financial assets than I would with everything in one basket.
I feel i do a little of everything but my main goal is to leverage a massive chunk of my stack in my 30s into real estate and then eventually build it up again but hey thats just me
I have been stacking for almost a year I have quite a stack of both Gold and Silver now I had sold some silver to pay off some debt Now my car is starting to cost me more in repairs than what it is worth I won’t touch my gold but the silver will get me something better ( once it goes up a little more)
my dad lost his entire (and quite large) retirement investments in the GFC. he went from globe trotting and living an amazing retirement to basically living off state pensions. if he was a gold/silver stacker he'd have been totally fine...nuff said IMO
Ramsey is selling his stuff! Encouraging renting and buying over staying with family and saving or investing in things outside of real estate, because that hurts his wealth. His advice centers on what helps him just as much as it does on helping the people..
Dave is really just secretly, spewing that he didn't buy more gold in the eighties and early nineties.😊 When it was around three hundred an ounce. 💰⚖️👑🏆🥇
Short Silver, Hold Gold. Silver is for Girlfriends, Gold is for Grandchildren. Silver is for Rentals, Gold is for Super HD Large block Duallys with a third wheel hitch, electric winch, real leather seats with the cooling package, over sized light kit, and truck nuts. Gotta use Silver for the tires cause you damn sure are gonna wear 'em out, like the girlfriend.
I Don't know how to convert it back to cash. I guess that is a good thing or a bad thing ... depending on how you look at it I know my local Silver City pays like 85% of melt for Silver and 95% of melt for gold. I will not be selling there.
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👋Welcome fellow Idiots, Losers and Morons!! Thank you all for watching. YT doesn't like this one again and is keeping it off the main timeline because I used the word "moron". Appreciate you putting up with my insensitive, dirty words. 🙏🙇
So why would I sell my metals if I can easily lend them ?
I proudly consider myself in good company. Precious metals will not bankrupt or default. They ARE wealth. To each his own, but I am proud to concur with folks like Bill Holter, Andy Schectman, Rafi Farber, Rick Rule, Robert Kiyosaki, etc... Gold is a Tier 1 asset. How are those Treasury Notes working out for people....why are so many nations dumping them? Why are the BRICS nations buying so much gold and silver? Why did the BRICS nations announce that their "Unit" currency would be backed by 40% gold??? Why have the big banks been buying so much gold? If this is what a moron looks like, I wear the crown with pride! 😂
Correctly spelling Moe Ron in a comment apparently gets you censored immediately, unless you own the channel 😂
I'm just under the "safe" zone! 😊
Ha! Before coming to this video, I just watched one of my favorite TH-camrs explain her THREE-YEAR fight with TH-cam over monetization. Three years of her income is now going to a random, unaffiliated company. Just because of a background song she used (and purchased) for all her videos.
Tread with caution for all TH-camrs.
X will replace TH-cam soon.
As a "boomer" don't put too much faith in what I have to say. You'll learn your own life lessons over time, just like the rest of us. Of all my investments, accounts, etc, the metals that I have accumulated are the only "money" that I'm not worried about.
funny I feel the same why. I just like it.
I agree. I’m debt free and have a sense of peace with G&S. I don’t lose sleep if it goes up or down, unlike the stock market. US financial system worries me!
Its part of the portfolio. Investments and savings and crypto are all going to act like different buckets
That’s because this is the best year gold has ever had /all time highs. Of course you’re not worried about it right now
,CRAPTO PONZI, cannot believe how many are mesmerized by fiat game!
I am 64 years old. I have had many hobbies. I stack as a hobby. It is the only hobby that I have ever had that I did not loose 25% to 50% as soon as i spend money on the hobby.
Dave Ramsey gives out great advice to people who have no idea about money
Agreed.
I've said it before that D.R is great for financially illiterate people who are in a mess financially and need to get out of that hole... Once you're out of the hole his advice has always seemed lacklustre at best or just plain stupid at worst. His opinion on gold and his preference for cash is definitely in the latter group.
Sure, if you choose to remain in paper until the music stops & you're drowning, he's there as agent of the state to throw a life raft and keep the masses confident in the fake paper system. And to sell his books. How much you paying for groceries compared to a few years ago? For a home? Get my point?
True!
Which is a huge number judging by the record consumer debt People are in.
I used his debt snowball to clear out all my student loans, car loan and other debt. That's good advice. Yet I objectively knew his advice on gold/silver was ridiculous when I heard it even though I wasn't a stacker at that time. History is a great teacher. Here I am. I just bought more gold and a little silver on that dip yesterday. If I look at the value of my metals from the past until now, there are almost no assets that performed better....
🤜🤛
Now that he's fooled so many into Blackrock type money funds, look who's buying up all the properties, causing them to skyrocket? Anyone couldn't giving Biblical advice for being irresponsible with money. I remember Ramsey when he first started out but never needed his saving. Many get into trouble because of all the honey traps laid out there by the very system Ramsey worships and encourages.
"Money is Gold and nothing else" - JP Morgan 1914. Elites know all else is a fake paper scam for the masses to skim they're sweat equity. But what they won't tell you, is that silver is the ultimate money for the people. Silver will save the people. So they crush the silver prices the hardest for half a century. Now silver supply's being depleted at an alarming rate. They're raiding the vaults to keep Comex from crashing. But demand is compounding by the solar panel race. Ramsey's books will continue selling as silver supplies near exhaustion. My projection is, Ramsey will update his book and add a section on gold and silver investing. But will be too late. Each time he attacks gold investors, he looses respect & usefulness
think about it this way....if dave ramsey has all his money in fiat....well who's the loser now.
People who make money selling "investments" will never promote gold and silver.
There's nothing in it for them. I get it.
Yes, this is the weak link in their thinking, IMO. Being more open minded about such things is quite often beneficial.
Dave doesn’t sell investments. He sells his steps. His steps worked well for us and we went through them all in 7 years just like he said. His plan worked! The more we deviated, the more we got delayed until finally we sold one of our houses to pay off the remaining mortgages and got several hundred thousand dollars on top of that. I wish I converted that gravy to gold right at that time… It was 2020 and I still have some of that cash in treasuries which suck!
Dave and his ilk are acutely aware that there is not enough gold on the planet to back up their funny money. So he’s heavily in real estate and nepotism which is not for everybody.
except all the gold firms with too good to be true offers they are likely scamming retirees with, seeing one advertised on newsmax even, odd its never a bullion dealer you can buy from without calling.( they dont want anyone to see they are charging near 2x spot)
@@Olliinn This is true. But ANY investment needs to be investigated BEFORE you do the investment. Capitalism isnt very pretty at times
X ellos compran oro y plata con las ganancias de lo q venden a otros
As a gen x who got out of debt and paid off my house while listening to Dave, I also have common sense. So I’m here.
Debt snowball? That’s where his advice seems to make sense.
@@2is1gold yes, and spending less than you make while increasing income. I’m still never taking on debt again, but I’m on the nugget train.
Make perfect sense!
The key to everything is looking at what Dave's strengths are. Macroeconomics isn't something he understands or has any real education and experience. The idea is to find people who have some kind of education and training and most importantly no bias when providing their advice. The other thing is consider advice from a number of different well educated, trained, and experienced people without biases.
@@audiophileman7047 what’s the education/indoctrination? I find that most of the educated folks really have no clue what they are talking about. Been on Dave’s channel for a while and he’s way more “educated” about common sense stuff. More so than I have ever heard come out a collage or our government that ms. Janet or mr. Powell backs. Thoughts?
You are right gold does protect against currency risk. In 1981 I spent 100 Iraqi dinars to buy a 100 dinar gold coin, which was 0.766 oz gold, which I still have and I also have a 250 dinar bill. Today the coin is worth $1890 and the 250 Iraqi dinar bill can’t be cashed anywhere and aside from having questionable collector value, isn’t worth anything.
The idea seems to be actively hidden.
Havnt they been predicting an explosion of the dinar now for like 30 years?
I thought the plural was denaraii? I always thought it was strange that after the Arabs invaded Byzantine lands, they kept the name of the currency.
Thanks for posting your experience with fiat currency vs. REAL money. It's a great point that more people should be considering.
Dave is a fool. I remember him making an argument against gold by saying Iraq switched currencies and didn't go to gold. How can he not realize the people with gold still had their wealth after a currency change, while those who only held the previous Iraqi currency were wiped out? He essentially made the argument for gold without even realizing it.
Yeah, very important point!
Bingo!
It seems like dave looks at gold an an investment and not as wealth preservation.
Dave Ramsey has wonderful advice when it comes to getting out of debt. Once you're out of debt, his advice on saving/investing is questionable at best. The way I see it, you can only do three things with money:
1. Spend it
2. Invest it (Includes speculating, gambling, etc.)
3. Store it
I agree that we don't want to spend it all. The question is what to do with what we don't spend. Dave says to store enough for emergencies, and invest the rest in index funds and forget about it. I'd say it's better to eliminate the inflation risk and counterparty risk and store it in PMs. Then invest in yourself -- learn some new skills, purchase equipment that makes you more productive, start a business, etc.
Agreed. I think his advice even seems gruff because so many people need to hear it that way to change their patterns.
I agree with all of the above....but i believe that ramsies advice is only applicable in normal times...like pre 2020. I believe americans and even people accross the world are under attack...so precious metals today make more sense than ever.
I’m an idiot aspiring to becoming a moron….. and my name is Dave.😊
😄
Truly a man for all seasons. 😉
Never go full Ramsey
If you bought gold at $1200 ,now it's $2300 so Dave was wrong 😂😂😂
✊
Gold can go the other way. Get a gold price chart for the 1980’s and 1990’s. Many people who saw that were permanently anti-precious metals.
The 1st gold I ever bought was 5 Canadian Maples for $1184 each, including premium. It's done VERY well and my wife no longer complains about me
"spending all that money" on gold. IMO, it's not spending, it's merely converting soft fiat currency into hard metallic money. It can be converted back
again at any time. This is for boosting our retirement income when it needs a boost and for making sure that we can always pay our property taxes.
If hard times come, that can be bad enough all by itself, without also becoming homeless over it.
I bought a few ounces around $650. I bought quite a few around $850. I remember starting to get hesitant around $1100-1200, but I bought then too. It’s ALL good. If I had to do it again, I’d only buy more! Yep, I’m a “moron” for buying an early ounce for less than $600 when it’s quadrupled now. Yep, definitely a moron. 😂
Fiat currency is eventually dead. People moved west in the 1800s-re: "49ers" hence the "Double Eagle" then the St. Gaudens in 1907. They were tough, individualists...Risking everything to find the yellow metal-many were successful-many were not- Dave Ramsey would have been a chicken- easterner buying up buffalo hides, or making furs... or even jewelry, from the gold the adventurous type found. The dollar will crash-maybe tomorrow or maybe not in chicken Daves lifetime. The point is my wealth, that I will never have to use is not in the bloated markets, not in "air" squares ( Bitcoin) etc but in precious metals. They have been precious for thousands of years- survived market crashes.. fiat crashes and are in limited supply. I have real estate also-land will always be worth something. Not sure about Bitcoin when everyone of "faith" trying to get rich buying AIR - runs to cash out before the next Crypto geek- I know you will disagree- but face it- Crypto is only FAITH that you can get out before there is the inevitable " run for the exit door"- as a millionaire on someone elses faith. Gold is tangible as is Silver -diamonds, rubies, emeralds etc etc.
If I can accumulate ///any extra money I have it will be in something tangible and proven for millennia.
Dave can have his stocks and Crypto etc-- but it only takes a run on the banks or a grid failure or destruction to wipe him out...not a real SHTF scenario-a probability !! Even if I am wrong for awhile... Gold will prevail and is the best "bet" on this planet...no matter how long it may take.
Dave is a fool and a moron. 😂
Dave is a bit too arrogant and condescending for my taste. If I listened to him I would not have bought a home in 2019. Now sitting on a 2.8% 30 year with a $989 a month payment. 15 year mortgage or nothing is terrible advice.
If you bought a home where I live you would already be upside down in your home where you owe more than it is worth.
@@bobsacamano7653it’s unrealized loss tho essentially. If it horrendously over then site heloc all you can cash it out and dump your credit score by bankruptcy. Thousands will do such. It’s bitch of em tho. Very few will stick it out. Worth working with the bank under threat of defaulting otherwise.
He just sounds like an angry hillbilly to me.
One of his goons said pay off house early but of course he could in 2 years with that coushy ramsey salary along with his wife its all a cult
Double payments, work magic to the principle going down fast! I did the same for my mom's home, and paid her mortgage off in less then 6 years, 14 years early
What sets 2is1 apart is rationality, balance, an open mind, and best of all -- wit.
Appreciate it. Thank you!
You forgot handsome
@@sinesaii We only have HIS word for that! 🤣🤣🤣
At least he’s got a pleasant speaking voice. 😆
I agree with Dave 99.99% of the time. And, because of Dave I paid off our mortgage eighteen years early and all debt seven years ago. However, because I have held significant capital in gold and silver, I have been my own bank for the last sixteen years. Precious metals paid off my mortgage, rescued my son's mortgage when he was out of work for eighteen months. And, it became cash for other large purchases. And now that I am unemployed, silver and gold have become food and necessities (and peace of mind).
Wow what a great story.....just recently i surmised there are only 2 things i have never lost money on and thats land and precious metals....20 year stacker here.
Gold and silver have been great for me for the simple fact that after a certain amount of time I just feel like spending money. Used to buy dumb stuff that had no value. I buy stocks but you can easily turn around and sell them. Gold and silver are a little harder because one way or another I would have to get up off my butt and go to my local coin shop or post office and I don’t ever do that. So it gets that itch satisfied to buy stuff, it appreciates in value and while it’s easy to sell it’s not that easy.
I’m actually the same way. Gold is like the one thing that’ll satisfy my spending needs and I can’t just sell it instantly like a stock.
Ben Franklin said , " A penny saved is a penny earned " . I have always taken that saying to heart . When I was a highschool kid back in the early 70's . I worked at a large grocery store. When I would get the chance to work the check outs I would always go through the change and buy for face value 90% / pre 1965 dated silver. I often spent a good chunk of my pay checks this way. It was how I saved money and still do. I have 90% to this day from when I was 15 years old . Guess I'm an idiot ! Good call . . . . Dave !
Hi from Australia I bought 6oz of gold 3 years ago and I'm very happy about that!!
Apparently, according to Dave I am all of thee above. Best compliment ever given by Dave. 😊
Hey big man always a pleasure , I missed you on my suggested youtube page , found you on a clip and subscribed ,
I converted some yellow metal 2 months ago to buy a truck , no interest , no loan , and made money , now I'm replenishing my yellow metal ,
So I guess I fall into all of the above category , I'll convert anytime both ways and I'm still good .
I don't have the funding you do so my scale is smaller , but it fits my needs .
I owe nothing , so I'm in a unique situation unlike a lot of people , my next conversion will be for land , no interest , no loan , no payments , call me crazy , but it works for me .
Take care , and you give much better advice than The Dave ever will .
Not crazy at all! Glad you found the channel. YT hasn’t liked me lately. 😂
@@2is1gold , ahh , the thought police must be watching , several channels I watch have mentioned rule changes and more infractions lately .
I'll keep watching anyway , take care .
@@tomstone6247 IMO, YT will keep pushing their woke insanity until it breaks and there is a mass exodus from YT
to Rmbl. Such things happen sometimes and when they do, it's always a big shock to those on the receiving end.
I'm the loser. Zero debt, and assets.
Ramsay worships paper... I'll be buying houses as Ramsey's disciples are having their's foreclosed on. 🙂
🏆😂
Debt can be leveraged worthwhile for the investor when done right. Everyone listening to Dave tho is the polar opposite of that person tho 😂🎉❤ it’s not for everyone is how I see it.
I worked in Argentina in the late 90s and it's peso was the linked to the USD 1:1. When I visited a few months ago, 1 USD bought me close to 1,000 pesos. If you had bought gold in 1995 then, presumably, you could sell it for dollars or a lot more pesos now and have preserved your spending power. You could argue that you could also have safeguarded yourself by investing in foreign assets (or moving abroad, as some of my friends did) but this is still a diversification play - not fundamentally different than holding a small portion of your wealth in precious metals.
Yep. Hopefully that's an extreme case, but this is a big reason it makes sense. Cheers!
As per usual, well thought out and well articulated. One reason for stacking not covered here, is just being fed up with the financial system. Just choosing an alternative that doesn't include paying fees to fund managers to invest in a propped up market, or lending capital to banks that give you a pitiful return while the prey on the weak or undisciplined souls who borrow their lives away. There's something freeing about the idea of just opting out of the system to the extent it's possible.
Yeah, good point.
After I retire, I'm hoping I live long enough to sell off all of my stack on the things I love to do. Ideally I will sell my last coin the week before I leave this world. Thanks as always for the insight brother. Keep up the hard work.
Cheers!
Can I ask you how and where do you sell your metals? Back where you bought it, banks, coin shops. Just wondering ways to sell small portions. Ty
@@virginiatrudeau7023 besides trading a couple 100 oz of silver for gold I've never tried to sell any yet. I've still got 112 weeks left till I retire and start selling it off. There is only one local coin shop in the whole state and it is 450 mi away so I've built my whole stack buying from the online bullion houses. So to make a long story short I don't really have much of an exit plan yet. Maybe I'll do some business with Harry's coin shop in Portland.
New lesson learned in life: buy during dips / crashes/ etc! I’m going for stocks (S&P), gold, and cash! Whichever lowers I’ll buy.
I will take Daves advice on gold and silver when he takes my advice on diet and exercise.
SNAP
Ramsey said to have 3 to 6 minutes months of cash available in case of a rainy day. If you have that in precious metals, how is that worse than cash? Inflation will eat the value of your fiat currency but you are better protected by precious metals. Is it as liquid? No but that is not necessarily a bad thing
Let’s go!! One of the best channels for the metals!
Thank you!!
I haven't listened to the Ramsay in a long time but I'd wager he'd never say owning too much real estate or stocks would be greedy. This leads me to think he likes to pump his own bags and feed the broker fee cartel.
What's Dave Ramsey saying about Gold now. He probably wishing he bought some years ago. I think his clients should make him buy fractional gold and tell everyone that he is sorry.
I'll bet he has plenty of gold but he'd rather you bought his book and used him for your investments.
"Money is Gold and nothing else" - JP Morgan 1914. Elites know all else is a fake paper scam for the masses to skim they're sweat equity. But what they won't tell you, is that silver is the ultimate money for the people. Silver will save the people. So they crush the silver prices the hardest for half a century. Now silver supply's being depleted at an alarming rate. They're raiding the vaults to keep Comex from crashing. But demand is compounding by the solar panel race. Ramsey's books will continue selling as silver supplies near exhaustion. My projection is, Ramsey will update his book and add a section on gold and silver investing. But will be too late. Each time he attacks gold investors, he looses respect & usefulness.
He’s definitely got gold, silver & all types of metals. He had to make his $. I agree with paying your debt off. Anything else he has to say .. no thanks. He never mentions prepping & stocking gold & silver because our dollar has lost value & is losing value.& will be worth $0!
He doesn't have "clients" dude.
GENX here and I would listen to D.R. To dig myself out of a financial hole, other than that…nah…I’m buying silver and gold
Good topic and always something to think about. Like the four quadrant breakdown.
Cheers!
Why not be an overachiever and be all 3 😂
Let's get those titles! 🏆
Dave had helped sooo many people. Has something that is proven and true. Most people don’t have a plan and need something that will work. So many people start on his plan and then go a different route. He will congratulate your success.
2is1, I know you couldn’t stomach it for more than 19 seconds but a debate between you and Dave would honestly be a breath of fresh air. Get someone in that can provide some cool headed pragmatic opinions to him that would cause him to back up his opinions would be great. I’d pop some popcorn for that one for sure. Cheers man.
Dave give advise like a person who has a ton of money already. If you can’t buy a house with cash just live in a cardboard box what great advice 😂
It works for the unhoused of California. If I had a heroin habit that was $50-$60 per day, rent is simply too expensive.
Of course, it does beg the question, is heroin really worth it? To the best of my knowledge, all heroin users agree that it definitely is.
ROFL, love that video 😂
I loved Dave's content years ago, because I'm the same like him in essence - that's how my mother raised me. But I absolutely hate it when he bashes on people who buy gold and bitcoin. For me, for years, it was literally much easier to buy physical gold than to deal with the stock exchange.
He’s committed to his opinions!
@@2is1gold Yes, AND to sharing them! lol
I have not yet included tigers in my disaster planning so I feel like a bit of a moron. Back to the drawing board.
Head on a swivel!
tigers are a completly different video. you need lead for those. brush up on your carry habits.
Dave is the prototypical old man. He never saw a time he would need it so it’s bad. But clearly a time is approaching
Dave has probably been hating on Gold since it was $50 per oz and Silver since it was $1 per oz. 🥴
😅
Brokers don't get a cut, if investors go for PMs.
Last year i had an incident where i needed 6k for dental. Dental is not an insurance policy claim in auto accidents
The hit i took fractured 13 teeth. But my pms paid it in cash and i got great care for paying up front.
Ps I bought at 800 sold a little at 1850.
Ouch. Good thing you had the backup. Cheers!
Nice!
@helenkessler6012 - ouch! Sorry to hear that, but great pms helped you out. I knocked out teeth worth 4 grand last year, but my insurance grabbed the entire bill, phew! 😀
Great video!
Thank you!
Premiums to buy gold and silver are high, around 20%. Selling gold and silver is difficult and hard to get anywhere near spot price.
I buy gold for all the positive reasons you mentioned in the video. And one more. I like holding and looking at it. Must be the coin collector in me.
🤜🤛
You talk about the S&P 500 and only if you play it perfectly you'll be at 10.2% but most people do not play the stock market perfectly so therefore that's more of a made-up number
I agree if you're "playing" the market. But what about those of us who have long-term holds on our core positions? That's likely to be a better comparison.
Two of my long-term core positions are VHT and VIG. I had these as mutual funds before they became an ETF. Both have done real well over the past 20+
years. Both have had a bad year from time to time but on average do pretty well.
Ramsey is right about low debt and living on a budget. These two things have allowed us to save in many circumstances. But he never addresses the insidious nature of inflation, how fiat is infinite, how gold and silver are finite, how they are biblical money. He sees market-go-up so green=good. Hyperinflation will show him to have led millions down the road of a lie, including himself.
Money is inherently ANTI-biblical.
I've been able to pay off my house and have had zero debt for most of my life (other than a home loan). That said I'm not Dave Ramsey's biggest fan. I wonder how the lawsuit against him is going.
Anyway, he can feel free to call me whatever he likes, the metals that I purchased have been there for me when I've needed them. Regular purchases and a plan that I stick to (with metals and investments) has meant that I'm in a better situation than many of my contemporaries. I'm pretty sure that's worth something, even to him
Debt free puts you ahead of most. 👍We’re going to challenge his labels on the show.
@@2is1gold His labels always piss me off.
It probably is worth something to him, but I suspect that he'd never admit it.
@@edb3877 I've often heard him refer to gold as " shiny rocks".
Maybe you should ask Dave Ramsey is the dollar losing purchasing power. And then maybe you should ask him is gold losing purchasing power and yes I know gold doesn't go up in value the dollar goes down in value
I can't wait to see your new video brother 🥃🥃
Thanks Nate! Appreciate you!
Dave starts a debate with name calling. That says everything you need to know. Never go full Ramsey 😂
😂
Lol unbelievable what YT disallows. I think I’m a safe idiot with moronic tendencies. Fun video. Thanks
Cheers!
Maybe a Loser but after '08 I just cant bring myself to *only* buy stocks again.
✅
Those of us who rode through 2007-08 but did not sell any shares and continued to buy more shares did very well. Like riding on a roller-coaster, only those who bailed out
during the ride got hurt. But I do agree that that time was gut wrenching. So was 1986 and 2001. By the time 2008 rolled around, I'd seen that movie before and was pretty
sure how it would end. It did. The same thing happened in 2020 but by then I was ready for it and put a bunch of money into 2 high tech ETFs that did VERY well. Bought in
March, sold in early December, made 75% profits that found their way into the stack.
I’m haveing a hard time buying gold when I did so good with stocks after 08 crash when market went back to normal
Not sure... I have several stacks for different reasons... one of the emergency fund, one has a pass it down to the kids fund, an investment fund that's going to be used to buy a house or land, and then we have a stack for life inc, which helps pay for funeral cost, but also have my retirement fund in gold, which is for traveling and so forth (come on 2030 - 2033😂).... yeah I might be overthinking it a little bit too much but in the long run, I'll probably still be doing better than about 80% of the population in the end and if anything ever happens to me my wife has money the f*** around with
Thinking through different cases makes a lot of sense. Cheers!
I stacked silver heavily before the price spiked early this year. I later sold most of it and built an off-grid cabin. It was a great way to save since the extra step of having to liquidate it kept me from just blowing it on other things.
Awesome - I think this is one of your top episodes
Thank you!
Funny one, great show! I'm 15% King of my fantasy apocalypse. And 85% aspiring idiot. I don't really get too attached to the metals. So I'm always open to sell when needed. I also see it as diversifying personal savings. However, that 15%... For me, it kind of makes it fun. And, at least I can tell myself, Neil Howe's "Fourth Turning" cycle theory backs my crazy. 😅 Great show, again thank you!!
Yes, The Fourth Turning will make you stop and think!
Gold is a tier 1 assest. It can be pledged as collateral for a line of credit with a bank , which is a good way to access liquidity and avoid cap gain taxes if you need for short term funding.
Dave Ramsey's opinion doesn't carry much weight with me - but it's an interesting exercise....I used 3 -- 1/10 oz gold coins for some wristwatches I liked - I think they were worth the trade....I would do the same for other watches to add to my collection
Ok mentioning that . I know we all need help ! Brandon is killing us all . I need some GOLD !
Thank you sir...a really funny and informative video!
Lived in one of the small Baltic states during USSR, during its crash and into EU times. Witnessed lots of people losing ALL their savings as their rubles they have amassed in their "knizhka" account (a savings account) evaporated overnight. Then the same repeated with conversion of rubles to the temporary currency - people got duped real hard. And finally, to a lesser extent, when converting the national currency to euro. Metals did great in that time! Metals like copper, palladium, platinum and few others did great! Would write more but this is a public forum :)
Dave helped me out greatly with financial peace Univ, the baby steps, and debt snowball. However he is totally wrong on gold/silver...and very outdated on paying cash for everything!
Ruins your credit always paying cash for big ticket items. 12 months is ideal. Helps your score stay up
He has a very helpful lane.
@@helenkessler6012 That used to matter to me but once I got to the point of never having to borrow money again, I quit thinking about it.
I fall easily into the safe quadrant but have all intention to head toward the Moran 🤣
I listen to Dave Ramsey everyday and even though I don’t agree with everything he says. He has changed millions of peoples lives by following the baby steps
Yeah, I think he has some good advice.
As a retired boomer I used principles similar to Ramsey's to accumulate a very comfortable retirement estate over 40 years. This throws off much more income in fiat money than I need to live in a style I find most agreeable, so I don't criticize those principles. However, in recent years I started to worry when I found that there was no good place to reliably park the surplus fiat retirement income. Most "safe" vehicles yielded returns that were very far below current roaring rates of inflation so that in real terms that surplus was diminishing in terms of buying power. I started stacking gold and silver to preserve that buying power against future consumption and/or investment needs and to have a different, additional, store of wealth that may be a more valuable asset to leave to my heirs.
He stays in a specific lane, and I think that advice makes a lot of sense. There’s also a constant on ramp to that lane, so his advice stays relevant. It’s when people exit that lane that it becomes hit or miss. Cheers!
I just ignore the Labels from anyone who does not share my Love of Metals. You do you ... I'll do me
Good approach.
Yet magically if D.R. could make money on the metals I guarantee hed be singing a different tune
I'm a Safe Idiot Loser Moron. A great mix of everything. Appreciate the perspective and the contrast with Ramsey.
Cheers!
I've been waiting for this video for years!!! 😁😁😁
🤝
I use gold and silver as a protector against inflation, also it's a great hobby. I don't look at gold or silver as an investment or a plan for an apocalypse lol.
I have been called worse by better, lol. So being called a idiot holding pre 33 I have sub 900 an ounce into it I guess. I feel I am in a good group of idiots! Not am I a idiot because well I am still buying🤷♂️🤣
🤜🤛
Remember he also said that there won't be a housing crisis can you add prices have dropped nationwide at least by 8% already and that's what happened during the global financial crisis of 2008 and prices are still heading down as we speak
Thank you for the episode
Thanks for watching!
I assume that I am in all four quadrants. 😂😂😂😂😂
😅
Water, food, shelter, necessary preps, a means to protect, and PMs are the icing on the cake. With that said being prepared for eternity, PRICELESS...
Shalom in Yeshua Mashiyach of Netzaret!!!
Baruch Haba B'Shem YeHoVaH!!!
Eliyah Ben Yisrael 🤗
The reason I started in gold was to have an asset outside the “system”. Govt can take your property, banks can freeze or limit access to your money, stocks can be “non tradable” if the “exchanges” go off line for same reason, same with bitcoin coin if the internet goes down or govts restrict what sites you can access. Something to think about when considering what assets you are acquiring.
I’m in good company. Thank you for more great content.
Cheers!
You can't outrun a tiger either! 🤣 Another great video, thanks!
This is why we prepare. 😄
One needs to apply critical thinking skills to anyone online suggesting what is a good and bad idea about where to park your money. Graham Stephan, another respected finance You tuber, has been a guest on the Dave Ramsey show but he also pushed FTX and Yotta bank. FTX flat out failed and anyone with an account at Yotta bank lost access to their funds.
I can't even imagine owning 50 oz. of gold, but I would sure love to be in that crowd!! What a problem to have!!!🤑
Little by little does the trick. I once thought that 10- ozs. of gold would be plenty. These days, add a zero to that.
I was wondering where I buried it, rose garden! Thanks for the reminder.
Happy to help!
Dave Ramsey has great debt elimination advise. That is as far as I would follow his advise.
💯 as always to you & yours 2 is 1 .
Thx. For a little more output.
Hreat stuff.
Cheers!
thanks as always for your videos. I was wondering if you could do one sometime on IRS reporting for capital gains on gold? In specific, the 1099-B form. How does the IRS know whether you sell for a gain or a loss? In other words- is it possible to pay capital gains on gold even if you sell it for roughly the same price you bought it at? thanks in advance!
If there’s no 1099-b you self report. I have made a video on this but it’s old.
@@2is1gold I'll look for it thanks. My question was moreso on the dynamics of what to report and how when you sell- regardless of where you bought it at spot-- if that makes sense. I'll look for it thanks again
Hey, lucky me....I hit all of the categories. My thinking for owning, and yes holding gold, covers all four of Dave's boxes! A few OZs that I'd be happy to sell (safe box) , spent too much (idiot box) , Got some I'd never sell that are some series coins (loser box), and yes, I even have some volume that I would never sell as it is marked for my kids (MORON Box) I buy and hold gold for every reason mentioned thus hitting all boxes. I say if the shoe fits, wear it... and I do PROUDLY.
Triple crown! 👑👑👑
I think this is one of those times where they say do as I say and not as the billionaire's and central banks do
According to Ramsey, I qualify as a moron. What Ramsey did not factor was those of us who have more fiat coming in than we spend and other investments.
Yeah, I think his advice is valid for a narrow lane of people.
Agreed! Those of us who own gold and silver quite often also have additional financial assets other than just PMs. Even those who only have PMs
still have some excellent reasons for owning PMs. Maybe it's their savings, their emergency fund, their inflation hedge. I know that I sleep better
with a diverse portfolio of financial assets than I would with everything in one basket.
Totally agree about silver. Just dumb to even stack. Fun to give as gifts to encourage the younger generation about investing, but that’s about it.
I feel i do a little of everything but my main goal is to leverage a massive chunk of my stack in my 30s into real estate and then eventually build it up again but hey thats just me
I have been stacking for almost a year
I have quite a stack of both Gold and Silver now
I had sold some silver to pay off some debt
Now my car is starting to cost me more in repairs than what it is worth
I won’t touch my gold but the silver will get me something better ( once it goes up a little more)
How far does gold have to go up for you to sell?
@@ginj5375I’m not sure but I did buy some last weekend
my dad lost his entire (and quite large) retirement investments in the GFC. he went from globe trotting and living an amazing retirement to basically living off state pensions. if he was a gold/silver stacker he'd have been totally fine...nuff said IMO
I’m a moron
I just keep putting more on the stack
😄
Ramsey is selling his stuff! Encouraging renting and buying over staying with family and saving or investing in things outside of real estate, because that hurts his wealth. His advice centers on what helps him just as much as it does on helping the people..
Dave is really just secretly, spewing that he didn't buy more gold in the eighties and early nineties.😊
When it was around three hundred an ounce. 💰⚖️👑🏆🥇
Short Silver, Hold Gold. Silver is for Girlfriends, Gold is for Grandchildren. Silver is for Rentals, Gold is for Super HD Large block Duallys with a third wheel hitch, electric winch, real leather seats with the cooling package, over sized light kit, and truck nuts. Gotta use Silver for the tires cause you damn sure are gonna wear 'em out, like the girlfriend.
Wow! You have an impressive and beautiful gold stack 🤩
🙏🙇
I'm all 3...But I sure have some nice stacks accumulated after 20 years
Just don't tell Dave!
I Don't know how to convert it back to cash. I guess that is a good thing or a bad thing ... depending on how you look at it I know my local Silver City pays like 85% of melt for Silver and 95% of melt for gold. I will not be selling there.
Oof. Any of the online dealers will beat that.
Great job!👍