Dave Ramsey Weighs In On The FTX Collapse
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- เผยแพร่เมื่อ 17 พ.ย. 2022
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I've been 100% debt free, including mortgage, since 1993 when I was only 32 y/o, long before I ever heard of Dave Ramsey. Luckily, I had the benefit of having parents to teach me how to be responsible. If you are not blessed with great parents as I was, please listen to Dave. He is 100% right and it is a great feeling to not be in debt to anyone.
You must not have had crippling student loan debt.
Becoming debt free is impossible for these young kids now.
@@magacop5180 I did not have student loan dept. I had a plan.
@@magacop5180 It’s not impossible, it’s challenging. We can do all things
“I lost my money when i was stupid too” 🤣
“Where’s your money now?”
Cold storage my friend.
I'm sure he thinks cold storage is the same thing as a refridgerator.
Not earning interest and losing value compared to fiat… good job
SPOT ON!!
@@ThreeSixFour Short term yes, long term no. Historically, anyway. Who knows about the future.
@@ThreeSixFour non custodial wallets. Earning interest and in most cases higher than fiat. Educate yourself my friend.
My wife and I have been debt free (including our home mortgage) since 2018. I am still trying to get used to it! It no longer matters when you get paid, what date it is. For decades I had monthly "goals" to meet all our bills. Now, it just doesn't matter. When a bill comes in, I just pay it. Same day. When I want to buy something, I just buy it.
Dave Ramsey was a great inspiration and he has been right all along.
Same here! Congratulations! As far as career, I get to do what I want to do, not what I have to do.
@@rbjusmc1 Me too. So I retired! Now I go fishing and shooting. 🤣
💪🏽
What a great feeling!! Looking forward to that!
Not your keys, not your coins. This will be a painful lesson for many.
Just when we thought no one could outdo Bernie Madoff.
I kind of feel bad for him. Being the worst of the worst was at least something. Now he can't even be that.
🤣😁😂
Bernie madeoff with all the money, but Sam left the bank-fried
Facts! 😂
Made off
I've been looking forward to Dave's reaction ever since ftx collapsed. He didn't disappoint
Me too
made off fraud was 68 billion though
yes but he's wrong, this is ONE exchange it does not invalidate the entire industry
@@cryptokoolaid oh really well then go ahead and try another exchange!!!!!!!! I guarantee u Dave Ramsey will be laughing at u next!!!!!!!!!!!!!
He never does. He's an arrogant individual that plays his followers.
“It’s one of your favorite pastimes” 😂 I love Rachel!!
Yep, me too. "Go right ahead".
I imagine she heard that a lot growing up.
That was funny.
That had me laughing. Rachel's delivery was perfect 😂😂
Nepotism makes her happy.
"Victory has a thousand fathers while failure remains an orphan"
Enjoy all the good calls every chance you get
And “ debt has many customers and no friends” words to live by 😊
What does it mean?
@@anastasiat1481
It means we all love to shout about it when we're right but we are quiet and hide when we are wrong .
I mean to the non believers like myself it was just a matter of time and now it is are time let them enjoy you guys had your time.
@@stevenclay9573 thank you 😊
It’s simple really.
FTX = centralized company
Bitcoin = not a centralized company
When Lehman failed, we blamed the bankers / executives, not the US dollar. Same concept.
But didn't the fedral reserve 🤔 bail out the banks accept for lehman...
This
Lehman, bankman, madoff all ran jewish IOU scams
@@adiintel1 Probably had something to do with the Treasury Secretary at the time. Paulson only worked for GSacs previously. GSacs and Lehman were only bitter rivals.
@@MattZiggy Goldman Sachs and the other big banks were able to buy the assets of their rivals for pennies on the dollar. Paulson and his friends only became richer and more powerful.
Lol the fact people are using the exchanges and letting their money sit in them, it's Dave's old axiom. Don't invest in things you don't understand.
Yeah it wasn't their money lol. They donated it to FTX the moment they gave them their keys. Rekt.
They gave their money away..freely.
Absolutely. Great advice!
My pops lost 10k to the HOO exchange
this year and he could have avoided that debacle if he had just asked me for help withdrawing his funds instead of taking advice from random @$$ people!
There are still many who leave their money in these brokers. They didn’t learn from Celsius.
How do you get your money off? Can you link a video or direct ppl in a helpful fashion 🤔
"To the people saying we need regulation are neglecting to acknowledge that what FTX did was illegal."
FTX only purpose was for money laundering.
It won't matter. They did it so they could regulate.
And what does regulation try to curb? :O
@@kateruterbories2692 Exactly.
He knew the regulators
"...lost my money when I was stupid too!" LOL
I have been waiting all week for Dave Ramsey's reaction to the FTX scandal. I am currently in college and our accounting professors will be talking to us about this, just like they talked to us about the Enron scandal and how it brought about "The Sarbanes-Oxley Act."
WorlComm!, Nortel!
I wonder what your professors said. 👀
Ask your professor about the repeal of the Glass-Steagall Act and why no American with a bank account is safe. Cryptocurrency is a threat to our devalued fiat currency.
When I was in B-School ('96-'98), it was MCI, and the professors tried to tell us about Stock Price
Dave is the undefeated finance champ.
There’s a difference between investing, and gambling, and most don’t know the difference.
All investing is gambling. Don’t believe me? Tell me again how your investments are doing in 2022.
@@CurieBohr My INVESTMENT properties are doing terrific, thanks. Great, well-vetted tenants and fantastic rents. Thats not a gamble (and oh yeah, NO mortgages on either one).
@@CurieBohr they’re doing pretty good ngl
@@takagi298 lol. Sure bud.
@@grease58 well, real estate is about to tank. So that’s coming. Rents are decreasing, that’s coming. I too have a rental. I don’t expect to raise, but be lowering rent. Good thing they’re paid off. I didn’t really mean real estate though. I should have clarified stocks.
God bless you Mr Ramsey.
I lived life like no other so i now can live life like no others.
I’ve missed the good, ol fashioned Dave rant😂
Me too. Just icing on the cake.
If only he got it right. Madoff and bankman ran the same jewish ponzi scheme. FTX also scammed people on synthetic stocks. I don't hear Dave about that.
FTX situation just proves the point of why decentralized money/assets are so important.
Lol, man the delusion is so deep.
"Where is your money now?" In my personal wallet. Not left on an exchange where its in the terms of service that you lose your funds if they go under.
My hands exchange my money from my wallet to do purchases or invest.. only exchange I trust.
The ol addage...."Not your keys, not your coins"
Dave doesn’t understand that people can be their own banks. FTX’s fraud didn’t cost me anything.
And how much value has it lost because of this situation? How much value will it lose next time? And when it becomes regulated (which is probably why this happened, as a setup) you're not going to experience great gains.
Dave doesn’t know his exchange from his hard wallet.
*“That’s called stealing”*
Bernie Madoff - $64.8 billion
Enron - $63.4 billion
FTX - 30 - 160 billion (under investigation)
Did you adjust for inflation?
Hopefully, some clawbacks (as with Madoff).
His parents have already given back "their" Bahama vacation home, realizing their jobs and reputations at Stanford Law are worth more.
@@ericpowell4350 word.... dollar had totally different buying power for those first two events
I HAVE BEEN WAITING FOR THIS ONE!
Dave’s been dreaming about this day for a long time
Been waiting for Dave's reaction, finally
Cash is king. Debt Free is the goal.
Except for my house, I'm there
No cash 2030 agenda
Debit Free is overrated. It just depends on the kind of debt you have and if your making money off of it. Look at Grant Cardone and Robert Kosiyki. They both have debit and are super rich. If you can borrow money real cheap and and make money who would take that deal. A lot of Millionaires had debt and took some kind of risk to get things going.
@@tsaunders4684
They are probably paycheck to paycheck and dependent. Living off of people like you.
I’m retired and don’t need to work like they do.
@@blackworldtraveler3711 Dude Grant Cardone is now worth over a Billion Dollars now. He got rental properties all over the country now and he got Cardone Capital where Investors can Invest and make money off real estate deals Grant has deals on.
No one has taught Dave about cold storage
No one taught all of the FTX customers about cold storage.
I am guessing to Dave, cold storage only means refrigeration or food in the freezer...
Great video Dave!
FTX needs to get into the baby steps???😂
It is DOA
Dave you were spot on, you took alot of flack but you called it!
Called what?
Seriously what did he call?
he doesn't even understand what happened...
Bitcoin is rising LMAO that has absolutley nothing to do with Bitcoin. It's sad at this point he can't even do basic level research it's just sad I love dave but good lord Bitcoin is decentralized it has nothing to do with FTX lol
FTX was a exchannge not a coin, The SEC was going to get the off the hook based on a SEC letter, but then things got worse
I don't care what the investment is, NEVER put all your eggs in one basket.
He can gloat. He earned it after all the flack.
He doesn't even understand whats going on LOL. That could happen with ANY INVESTMENT. He was stealing.
@@StratPIG who doesn't understand?
Gloat? Not once has Dave mentioned FTX before the collapse, he can't even pronounce the parent company. Yet the man now acts like has been calling it for years. 😂
@@noobisback1 what do u mean he can't pronounce the parent company!!!!!!! Yes he can that's a total lie!!!!!!!!!
The Mary Kay for men 😂😂😂
Men, or boys?
Young men.
I screamed! 🤣🤣
😅😂
@@PInk77W1 Chitcoin fan boys
Dave used his Kermit voice when saying, “told ya so!” 😂😂
I told family and friends not to do it! They won’t talk about it now! 😂😂
This was great!
The sad thing is people plowed all their savings and retirement income into this scheme.
No sympathy here.
That was not a sad thing. Putting all your money in one scheme is a very stupid thing.
Not really.
A fool and his money are soon parted.
Please tell us who did that. It sounds like you're making this up.
Haha. Rachel ! It’s your favorite pass time🎉
Thanks Dave
Oh the old school burn with the Bankman-Fried name. Dave is having so much fun with this.
Never clicked on something so fast before lol
Sameeeee
Yup! Same lol
Morale of this story: diversify, diversify, DIVERSIFY! No shock here Mr. Ramsey is on the "I told you so wagon"
You missed the moral: Don't diversity into a risky investment you don't understand at all.
@@DrSchor there is no such thing as investing in a risky investment that does make sense and is safe either!!!!!!!!!!!!
You sure did Dave!
Rachel at the beginning 😂😂
Of all the combinations, I mostly enjoy Dave and his Daughter Rachel on the show. Such fun!!
She's a pistol. Fun and smart, and knows where all the buttons are. Yeah, easy on the eyes as well.
"Slow and steady wins the race! Predictable Investments!" I've got a very successful investment and it is still going. I did exactly what Rachel said at the end. Didn't happen fast. It was slow and steady and I won. I think the main problem is too many people are looking for a fast way to wealth.
good info on this on coldfusion
lol “KEEP UR DIGITAL ASSETS OFF OF EXCHANGES”
Dave does have years of Wisdom when it comes to these things.
American Greed series getting more content 👌
These people got what they deserved. You don't invest in garbage.
Love to hear Dave chime in on the other influencers who shilled FTX. Ie graham Stephan
Yes yes yes please keep putting out the FUD Dave. You do that & I’ll keep buying the projects at a discount.
It's hard to be humble when you are perfect in every way.
Common sense is always considered perfection in the world of Idiocracy.
Got a fortune cookie once with the FTX logo on it. The other side said something like, "what are you waiting for?"
Lol
I laughed out loud when he said that Sam Bankman-Fried was being probed in the Bahamas…
Home of the Fyre Festival, right?
Thanks Dave! And Ramsey Solutions for being awesome 👏
Madoff was $64.8 Billion for reference.
When are we getting SBF on the show?
The best part of this is when Dave uses his "Told Ya So!" voice. I imagine him reading in that voice to his grandkids!
There were regulations in place to prevent what happened with FTX. Sam Bank Fried had ties to the head of the SEC, so they turned a blind eye to what he was doing.
Yep, regulations don't apply to FEDGUV.
@@Trey1970 Correction: Democrat donors.
Yep it's called the law.
They mis appropriated users funds. I'm pretty sure that's illegal.
The Party
Isn’t this like saying you shouldn’t invest in stocks because of someone like Madoff though?
Yes
SBF dresses like its laundry day, everyday...
🤣🤣… he really does
Haha, yes BankMan all Fried! I was thinking the same! Wow, one couldn't even make that up!
Slow & Steady Wins the Race, just like Rachel said at the end, for the Tortoise & the Hare story.
Theres no such thing as a “predictable investment”. The very definition of investment involves risk
A treasury bond is a predictable investment
@@mattjcrane buying power of the underlying asset isnt predictable tho
You brought a FTX promoter to your show. I wouldn't be so in your face sir.
Get rich quick =lose your a $$ in a minute.
Here today, gone later today
Listen. To. Dave.
FTX was paraded as the big, safe, regulated exchange. This will continue to happen with centralized exchanges.
If you don't hold your own keys, you will lose your coins.
Democratic Ponzi scheme
Is coinbase a “key”? If not how do i key my coins?
@@uhvoidme6321 get your coins out of it to a ledger, that’s where I have mine.
Or maybe don't invest in things that have no underlying asset
@@uhvoidme6321, look up any cold storage wallet. Trezor and Ledger are the most well known.
I'm glad I listened 🙌🏿
It’s only the beginning .
Dave got moist reading those headlines .
The whole regulated banking industry is rotten to the core as well, I don't trust any of them. This is why I think Dave's debt free approach is the safest option.
Banks are NOT your friends, their product is debt.
Actually I agree. The whole thing is like a casino even when you think you know what you’re doing.
Thank you for Enlightenment, stocks is the oldest online marketplace we have made in recent years, we use it because of the top quality of the services it provides and how successful it is today, we are now talking about cryptocurrencies too, I'm just say that people should develop the habit of investing, it is really useful in life.
Hey Dave. Which smartwatch are you wearing?
my kindergarten teacher was right about the tortoise and hare story lol
Been a listener since 2017 dave always said stay away😂😂😂😂😂
A broken clock is right twice a day.
Yet, Dave is probably doing a wee bit better than you financially…lol
@@fireengine77 I’m a multi millionaire and make a million a year. I’m glad I don’t need to worship a false idol to make myself feel better 😉
@@Omikoshi78 sure you are 🤣
@@Omikoshi78 I’m sorry you lost money in FTX🤣….
@@fireengine77 I’m honored that you’re in denial about my success with career and finance. Enjoy your rice and beans this holiday season :)
Favorite pastime 😂😂😂
I was thinking about trying it. But thank God I listen to popa Dave.
Ive been waiting all week for this reaction. Wish it was 10mins longer.
He has beaten this topic to death for years. Not much for him to say but “told you so”! 😂
@@user-wq5ws1qs7x I would have been ok 10 mins of that
You look the opposite of upset thay people lost their money hahahha.
Bragging rights well deserved! Go Ramsey team!
"You should always jump into the next big thing!"
The best advice from Dave as always.
He doesn't understand Bitcoin is it's own thing and FTX is it's own thing lol what are you talking about
I never invest on new products until it's proven reliability. I would also like to understand it.
I’m just hear to see if Dave calls out Graham for promoting this garbage.
He lost money too… Graham didn’t know
Watch. No one will go to jail and there's more of these platforms that will follow.
Let's invite Stephen Graham on your show again! FTX Sponsoring
Yet another fool that gets his name around the wrong way. That's at least three in this comments section.
Every video Dave puts out is just hammered in the comments by his critics throwing a fit... can't help but notice they're awfully quiet now. I'm sure now that I said something I'm gonna get hammered with angry replies lol
Hope you are having yourself a wonderful day
Financial management backed up with traditional audit, monthly report to investors never goes out of style.
Traditional but it works.
Applies to small companies or big corporations.
Hello 👋 Beautiful Lady 🌹..how are you doing today and your weather condition like today?
Like the Fyre Festival except with finance!
Cryptobros: I don't like regulation or banks!
...gives their money (coins) to a dude named Bankman.
A fool and his money.......
Dave was right tho if you don’t understand it don’t invest in it
Good thing I just spent whatever I could afford to lose lol.
I love it!
Then give it a try
Was waiting for this one lol
Bwahahaha! I love Dave.
This is the time to buy , just make sure you sell before the next rug pulled 😂
Not your keys, not your coins.