Silver and Gold Investing is a BAD Idea discusses the recent video Dave Ramsey published discussing whether silver and gold is a good or bad investment. Many within the stacking community view silver and gold as an investment in oneself, not so much a financial tool to earn a return. However, many believe in the precious metals as a tool for savings and hedging against inflation. But what about some financial experts like Warren Buffet or Dave Ramsey? Do silver and gold enthusiasts have it all wrong?
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LEARN MORE ABOUT: Precious Metals IRAs
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
REVEALED: Best Investment During Inflation
Investing in gold and silver is often seen as a safe and reliable way to protect your wealth, but according to personal finance guru Dave Ramsey, it’s not a good idea.
In a recent interview, Ramsey said that gold and silver are “not a smart investment” and “not a good hedge against inflation.” He argued that gold and silver prices are too volatile and that the long-term return on investment is too low.
Ramsey’s opinion is shared by many financial advisors, who believe that gold and silver are not a safe investment and should be avoided. They argue that gold and silver prices are highly speculative and can be easily manipulated. Furthermore, they point out that gold and silver have no intrinsic value and that their prices are based on the whims of the market.
Despite this, many people are still drawn to investing in gold and silver. They believe that these metals are a safe haven in times of economic turmoil and that their prices will rise in response to inflation.
However, Ramsey believes that there are better ways to protect your wealth. He recommends investing in stocks, bonds, and real estate instead of gold and silver. He believes that these investments are more reliable and can provide a better return on investment.
Ultimately, it’s up to you to decide whether or not investing in gold and silver is a good idea. But if you’re looking for a safe and reliable way to protect your wealth, it’s best to heed the advice of Dave Ramsey and other financial experts and avoid investing in gold and silver.
Just because you're a multi millionaire and have no Gold or Silver positions doesn't make you a financial expert or guru. That's like saying if you're not a mechanic you can't change your oil or work on your car because you're not a so called expert. First, Gold and Silver have no yield. Why? Because it's money. Just like the dollar, the Yen or the Euro have no yield neither does Gold. It's not suppose to. It's not the price of Gold going up or down, it's the value of the price of the currency in Gold terms going up or down. Dave's first mistake is he compares Gold to stock market returns. Wrong! You compare Gold to currencies NOT the stock or bond markets? Why? Again because it's real money. The second mistake with Dave Ramsey is he routinely compares Gold as an investment. Wrong, again. Gold is NOT an investment. It's an asset. It's the only asset that isn't someone else's liability. When you use wrong metrics with wrong data and wrong formulas you get wrong answers. Lol. Gold's main mission is a store of wealth, not ROI. You buy and hold Gold to hedge against depreciating currencies. The dollar is based on a debt inflationary system. Gold is the antithesis of that. For example, under the Gold standard in 1909 a Ford Model T cost $800, you could have purchased the car with 40-$20 dollar bills or 40-$20 Gold pieces(St. Gaudens). Fast forward to today and those 40-$20 dollars bills can't even buy you 4 tires, however those 40-$20 Gold pieces are worth $72,000 today (40x$1800) and can still buy you a car. Do you see the difference ? Is everyone with me? In ancient times a Gold piece (1oz coin) could buy you the finest wardrobe and tunic in the land. Take that same 2,000 year Gold piece teleport it to today and it still can buy you a fine suit, tie, shirt, shoes worth $1800. That's the power of Gold. Dave doesn't seem to grasp, get or understand that simple concept my 7 yr old can comprehend. It's universal, indestructible, malleable, portable, fungible, divisible, a unit of accounting, weight and store of value. Nothing on the planet carries these properties. Dave is great to get people out of debt and with real estate. He's a lousy adviser on Gold, Silver and Whole Life insurance. He's as ignorant and dumb as they come concerning those subjects. Totally clueless. There's a video on Youtube during the 2008 financial crisis. Watch it, he gets everything wrong. His comments were all incorrect. Last…..if Gold is such a lousy, worthless rock like Dave Ramsey says, then why does every Central Bank on the planet have Gold reserves in their vaults and not shares of Buffet's beloved Cola-Cola or Dave's Mutual Funds? Hmmmmm…..answer that for me ? Someone…….Lol
Dave Ramsey: "People invest in gold and silver out of fear and greed." No kidding. Why do people invest in anything? (Greed) I guess Dave invests out of the kindness of his heart and greed has absolutely nothing to do with it. Silver and gold are volatile. True, so is anything else. If you buy real-estate you have to pay taxes on that every year. If you pay it off with a mortgage you pay taxes and a premium to the bank. Not to mention insurance on the property. If you decide to skip the insurance god help you if someone gets hurt there, even if they are trespassing they will sue and more than likely win a big settlement. In other words you are buying a bill, and you will pay that bill until someone comes along with enough money to buy it from you for more money than you put into it taxes, premiums and all.
I appreciate your perspective because I’m think of investing in Gold and Silver. With everything going on in the market I think it’s a good hedge against inflation. Plus, I’ve been watching Wealthion and listening to Mike Maloney and have a new found respect for investing in precious metals, especially with the the next 10 year outlook.
Dave Ramsey is so absolutely full of himself. I can’t watch the guy because he’s incredibly condescending and pretentious. I have no idea why anyone gives this guy the time of day.
Never cared much for Ramsey. I don't listen much to his type. I use common sense and it has served me well.
BS – the only people making money on it are the coin dealers
It's a terrible investment. The reason i stack it is because it helps me save money. Im not apt to taking my silver or a piece of silver and selling it. Cash on the other hand, is super easy to just take out of safe and spend as neccessary. Ramsey makes a great point, but i will continue to stack because i enjoy it. It's like any other hobby to me but at least i can get some money back.
The stock market is the over priced con job bernie madoff was the small time crook wait till the whole corrupt ponzy scheme collapses j p morgan said gold is money and that's all it is fiat currency is a banksters raket if a person has alot of fiat currency dosen't mean he's worth anything it means he's in the corrupt system
In another video, Dave told a women to liquidate her $100k worth of silver and gold which she agreed. Fast forward, he cost her about $65,000 because gold kept climbing. Boom!
I have heard that it is worth investing in silver now, because of its industrial uses and its growing scarcity. It is used, for example, in all computers, laptops, mobile phones, car circuit boards, and when they get dumped, noone retrieves the silver, so more is needed. I've noticed that silver bullion traders are currently saying there's a wait list of 4-6 weeks on a lot of common coins. Is this because of a silver shortage? Will that make the price rise? If so silver is a good investment.
He was correct
That guy has no brains.
I believe in a “not all eggs in one basket” approach. Some PM is good as well as diversification. Some cash on hand, some equity, savings, investments and a retirement. It’s just another brick along with other bricks to build a wall to protect yourself to me
I view metals stacking as an emergency insurance policy, not an investment. Super rich guys like Ramsay or Buffet don't really need that. For a wage-slave pleb like me, I feel safer having a couple months worth of expenses set aside in an asset that will always have SOME value. If I never need it; great. I can leave it to my kids or grandchildren.
it's not only about investing it helps you save money instead of having money on a card and spend 10 dollars here 20 dollars there 200 dollars overtime you will be spending a lot of money over the years if you put most of the money you don't need into gold and silver it's a lot harder to spend that you will have to sell it rather than just swiping a card it 1000 percent helped me saved 10s of thousands of dollars
Only tards invest in something that cost money to buy and money to sell.
Most of you are college grads also. That should tell you how much you wasted on that worthless education.
99% of you are followers, not leaders.
I'm sure Ramsey does a lot of good, but as I've always seen him, he's a guy who went bankrupt then decided to start teaching people how to avoid doing the same. He's made a fortune setting himself up as the expert. Good for him, but he's dead wrong on a lot of things.
Looking back at history, and we've had several stock market crashes, real estate crashes, bubbles bursting and countless investment scandals but I have yet to hear of a gold crash. The only risks I can think of are selling at the wrong time, robbery and the potential to buy fake gold/silver.
Regardless of what he says, it’s a much better store of value vs the dollar and it actually has real utility. Silver used in the manufacturing of “green” products. Guess what the world governments are pushing “green” initiatives. The demand for it will continue to rise
Lol, Dave Ramsey is an extreme outlier. I respect a lot of what he teaches and for the average debt slave it can be tremendously helpful with getting out of debt. Most of us will never be a Dave Ramsey, but ALL OF US can stack gold and silver here and there over the years and end up with a decent nest egg on top of retirement, SS, and 401k's. PMs are hedges against inflation in the event the government/economy goes sideways. PMs are not an investment in that the intent is not to make a ton of money when you sell but to preserve your purchasing power year over year.
I follow Dave Ramsey most of his advice is good. But i stack gold and silver i do believe it has its place in your portfolio
I dont listen to millionaires. They live by a different set of rules and justice. Their opinions do not reflect my own reality.
I will just say this I am 69 years old and I wish I could go back in the early 70s and stack a lot more silver and gold. I would’ve been a lot better off today.
Dave Ramsey needs to stay in his lane
Dave gives good advice about getting out of debt, budgeting, saving 6 months of living expenses and such. But he's a real estate Mongol. He'll tell you to even buy a house now in this overpriced housing market because he thinks real estate will always go up and you'll never loose money in real estate. I think he's so wrong about real estate and he's wrong about gold and silver. I've been buying gold and silver since 2004 and many coins I have in fact have doubled in value. And I believe by the 2030s decade we could see $5k per Oz for gold and $100 per Oz for silver. I wouldn't go all in, but I would have some. Best advice for anyone is not to be overweight in any one assest. Live on less than you make, and save for retirement. And don't panic about anything. Life is too short to stress and panic about anything.
The stock market can take your investment overnight. It crashes, so do you, unless there is insider trading involved. Some gold and silver can save you. If the well to do sell their stocks at the right time, they are probably criminals at that point. Watched 401k plans get destroyed in a couple of days. If SHTF, a little silver and gold can help feed the family. Your stocks can't!
Listen to Dave Ramsey to get out of debt. Never, ever take his advice on investing. He will cause you to endure a 50% decline with years to recover.
I think silver, and gold will not shine and see their day, because every day is their day. They are the constant. Though the trading spot price goes up and down they are value holds constant. Our opinion on whether they are in or out of favor, will vary based on other things that from an investment perspective may have higher yield. But it’s kind of like baseload electricity. You kind a need an underlying constant foundation economically and that is what they provide. I view it as more a savings and insurance with a potential investment upside.
The cards to pick up right now are Absolute Glass. On Ebay there are only around 300 total available for sale. That is accounting for all (3) sports across all years. Guys like Kobe, Brady, Lebron, Curry are going to go to the MOON pretty soon. There are also key rookies to look out for such as Tatum, Lamelo Ball, Anthony Edwards etc. At any given time someone can find like 10,000 refractors of ANY given player, but they'd be hard pressed to find a half doezen glass cards of the same player. The BGS Black Label varieties will be insane!!!
Ramsey is great for snowballing out of debt!… Thats about it!
I agree with him. Gold and Silver is only good for people selling gold and silver. Almost everyone telling you to buy it. Is selling it. Just by gold and silver jewelry and you can wear your gold and silver instead of just look at it.
Notice when the prices go up they keep coming back down. The big boys are just making a little money shorting off the people that think gold still works the same.
When SHTF Dave Ramsey will be wiped out. And he'll be crying like a baby. As will 99% percent of people. We are the less than 1% for a reason. Look at Zimbabwe, Argentina, Turkey, Lebanon. Precious metals are a no-brainer. Oh yeah 1933 USA depression was a walk in the park compared to what's about to happen.
I have always suspected Dave working somehow for the banks.
Why would anyone believe in paper,Gold is real money.
I’ve never looked at stacking as an investment, to me it’s just a more stable form of currency. It also allows you to physically own your wealth. Anyone remember what happened in Greece a few years back? 2008? Great Depression? Your bank accounts are just numbers on a screen.
David is right on a lot of things and very wrong on many.