Why You Shouldn’t Be Fooled By “Gold-Buying” Headlines!
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Foreign over 70 years old so in about a year and a half two years I’m gonna have to start taking uh cuts from my 401k automatic payouts the government make sure yeah you’re required minimum distribution yeah right I don’t use that money it just sits there it was making money under the
Trump Administration it’s kind of losing money right now yeah anyway uh I don’t really know what to do with that money because I don’t need it but I want my my gut feeling is to invest it in Gold no no no no we don’t put anything in Gold
No if you don’t need it and You’re Gonna Let You Wanna let it sit somewhere let it sit in a good mutual fund that’s fine that would do better than gold oh absolutely I I I I own some gold cuff links and that’s the only gold I’ve got
Okay I I just don’t want to do anything risk at this point that risky is goals gold is much more gold is much more volatile if you look at the price of gold on a chart it’s way up and way down much more than the stock market is a lot
Riskier and it does not yield the net return the average annual rate of return on gold sucks really yeah that’s awful yeah I I don’t know that much about it I’ve just heard that gold was a good good investment so yeah usually from people that don’t have any money
That that 4 that 401k will just be part of my daughter’s inheritance that’s cool that’s cool you’re gonna pull that money out of the 401K that we’re talking about because you’re required to and I would just be moving it into good good mutual funds in in the process uh I think I I’m
Gonna ask a question on behalf of maybe new listeners maybe somebody’s never heard you talk about this why are you so emphatic about gold and well we know why it’s up and down why is it so up and down because the way it’s sold is well
If the dollar gets hurt you need gold I mean that’s the fear message that’s behind this why is gold so volatile gold is a commodity okay it’s a it’s a it’s a rock that is yellow okay you have barrels of oil you have uh precious metals diamonds Commodities corn commodity
And commodities are all traded one hundred percent based on people’s perception of shortage if the perception is that there’s a no shortage that there’s too much of it the price goes down so like the the old movie orange juice Futures with Trading Places with Eddie Murphy which was a mythological future
Okay there weren’t orange juice Futures but um but it was fun for the movie’s sake but all that is is you’re you’re you’re betting on and commodities are all more volatile than Investments that actually create Revenue so in investment that creates revenue is a company that’s running that makes a profit Home Depot
Makes a profit Microsoft makes a profit and it’s either a lot of profit or not much profit Apple makes a profit a lot of profit and so their stock goes up based on the fact that they are creating Revenue gold and corn and oil does not create Revenue it
Only trades based on scarcity and people’s perception that scarcity is greed and fear and it’s like I’m afraid so I’m going to rush towards it and if a whole bunch of people Rush towards it it creates a shortage and the price goes up but that’s the only thing that causes the
Price go up the gold did not become more valuable just more people were chasing fewer bars that’s all it is Supply demand drives it up and so anytime you’re investing in a commodity you are at the mercy of the psychology of the marketplace Everybody’s scared or everybody’s greedy
And they’re chasing two things so that’s the only way price is established where if you buy a piece of income producing real estate price is established based on the income it creates not based on oh it’s real estate you know it’s not oh it’s a golden Rock okay
So the golden Rock has no magical qualities it’s a rock it’s a golden Rock diamonds don’t have magical qualities they’re a little clear thing and they’re not necessarily a girl’s best friend that is a marketing slogan by people who sell diamonds yes because diamonds do
Not go up in value I’ve got quite a lot of them hanging around my wife yes yes so um and and let me tell you how much they’ve gone up while I’ve owned them not right at all right so for people that are so rate of return is called marriage but
There is no actual investment return on the stupid things they’re a complete waste of freaking money otherwise so give us uh 30 40 seconds on these headlines that people are seeing and that’s why we get this call in Gold they’re seeing all the Dollar’s in danger China’s making moves Russia it’s
In the headlines all the time what should they do when they hear these headlines about the dollar and it’s the danger in the dollar well the number one you can’t run to Gold there’s nothing magical about it okay number two Brazil and China and Russia our large land masses
But Russia and Brazil are not large economies their gross domestic put output is very low Texas has a larger gross domestic production than Brazil Texas is a bigger economy than Brazil so do you think that Brazil and any of their little friends are going to snipe
The dollar not a chance they’re going to have to do business with the 800 pound gorilla and we do business in dollars so they’re going to be at our Mercy still
41 Comments
Gold isn't for becoming wealthy it is for preserving your wealth outside of all financial systems.
Gold is insurance. WHen the US dollar crashes (And it will) the stock market will also crash. Right now China, Russia and India are planning a Gold backed Currency that will kill the US dollar! The US dollar is back by nothing!
Personally, i buy gold only because its value will never go away and its a safety option not because im looking for a return
Sounds more like they don't want you to buy real money because they don't believe you worthy of real money. They just want you to focus on digital money, tree money. Once shtf then you have nothing. I think i heard the new world order slogan, "You'll own nothing and be happy"
GOLD was there before America was born.
The dollar is and has lost value since it was removed from the gold standard, a $20,000 house in 1965 is now around $250,000. Everything has shifted and and ounce of gold holds it’s value in relation to the changing dollar, like it or not gold and silver are monetary foundational blocks, silver has antibacterial properties as well.
Gold and silver are not investments to gain value, they are rock solid storage of your labor and materials globally!
If you did a hard day’s work today or in 1950, can you get someone to do the same work for you in the future? If a currency loses its value, can you switch it up to a stronger currency in a foreign land to buy commodities or services? There most certainly is a place for gold and silver in your long term survival, banks do not accept bullets and alcohol, anyone who denies inflation is just afraid of Dave! 😂
Dave quotes god and his bible often , I thought gold and silver are in there as stores of a person’s liquid wealth , the properties of Gold and silver that make it a long held store of wealth, for one you don’t lose it in a fire like paper fiat iou notes , it’ll melt, but retain its qualities !😂 2 ). It’s heavy so it’s hard to steal in quantity!😂 3). Silver has anti microbial properties, so it can be exchanged between people without spreading diseases! I love Dave Ramsey, enough to call him out on this, he’s not going to win on this one, they call it gods money, because the natural qualities of it are such that it survives cyclical destruction of society, 500 year cycles are not so obvious, one asteroid hit and we are living in the 1400’s or before that!
The thing about having gold if and when SHTF and money is useless if your in the desert you have a gallon of water and someone wants to buy your water and they have a bar of gold which is worth more?
At least those Dadgum bread rolls at Texas Roadhouse are free!! That’s real gold
Gold and silver is not for investment or to create revenue. It’s for wealth preservation in case the paper money loses its value. We are heading for another monetary reset with CBDC and precious metals will help preserve your wealth.
this guy Buying Gold would be so good and they don't know paper go's to zero Gold doesn't
Dave should stick to debt reduction advice…
30% return each year on gold bought in 2000.
$300 x .30 = $90
$90 x 20 years = $1800
The math doesn’t lie
Thank you Dave.
This might make sense if you are using the dollar as a reliable standard of measurement. Try flipping it, by using the purchasing power of gold/silver as the standard. Yes the dollar amount of gold/silver fluctuates, but what you get for an oz of gold/silver is more stable than the purchasing power of the dollar.
I still think that there is a case for gold/silver. I invested an equal amount of yhe dolalr into my mutual funds and into physical silver. I compared the purchasing power of the silver to the mutual funds and I came out ahead with silver over a 5 year period. Of course thats a short period of time, but it's worth keeping an eye out for it and not allow yourself to be blinded by the lie of the dollar.
Using the dollar to measure wealth, is like using a measuring tape that is continually being stretched.
Dave is full of shit no transparency from him what’s so ever. Gold is meant to be a place to store wealth not get rich. When everything crashes gold will still be standing strong.
The rate of return is terrible in gold. Like 1-2%? And y'all think that's a good investment for the future? Dave you are 100% correct. This year I will make over 50k in my IRA. Good luck doing that with gold y'all.
Gold eagle was US money and worth $20 when created. Now gold eagle goes for $2000. Dollar inflations. Gold hold for long term is a good strategy. If you want to trade back and forth or monthly payment then the stock market. But with inflation at 8% you better make 8% to come out on top. But stock market you can also lose everything.
Gold isn't just about timing markets. It is an inflation hedge. It is an alternative to money market and bonds, not stocks.
i bet dave has gold 100%…..he sells his books and courses not gold therefore am sure there is a element of bias there
THANKS DAVE KEEP STRAYING THEM AWAY FROM GOLD AND SILVER 🤔🤔 I'MA KEEP BUYING PRECIOUS METALS 💪😁😎😂😂😂😂
My grand mother gave me gold and it has grown 800% in India in last 30 years
Completely wrong on gold. I've bought 1 or 2 ounce per year every year since I was 19. I'm 43 now and own over 1 and a quarter kilo of pure gold.
There is no rate of return on gold. It's not an investment, it's a saving vehicle. But invest in a mutual fund that invests in commodities 😅.
All fiat currencies go to zero, gold never has.
All the stupid people here singing the praises of gold. You'll stay poor.
Perception is not the same thing as facts. US economy may be in trouble. Fear is a form of surival.
Don't buy mutual funds because the phucking brokers take all the money and tell you that your account lost money…. Get your own trading account and buy a diverse assortment of stocks and ETFs…….and also buy gold and silver to hedge against Biden's hyperinflation and an ever-weakening dollar.
Gold is a metal not a ceramic, aka “rock” 😂
2:25 aren’t stocks traded to a large extent on psychology of the market not just fundamentals?
Gold is a metal not a rock, Dave!
What in the hell.
What side is Dave Ramsey on?
The stock market is ponzi
Gold and silver is the way it's going to be. He is a jerk and is exposing himself to be on the wrong side of history
People are funny, let me buy something that is based on what it’s worth in dollars in case the dollar fails. Yup , good thinking.
Gold is just a piece of rock needed to build cars and iphones no big deal
Hate “gurus” that dont know poopoo, u made ur millions off real estate and debt dave stop Fooling the people. Gold was always and still has been valuable and theres no question it takes 2000 bucks to get one instead of 500 like it was in 2005, u need some dollars but you also need gold for rainy days ahead. Dont have everything you own in gold but its good to have some regardless silver too, im not just parroting kiyosaki either
Imagine every time the economy is in a down fall these greedy gold sales people come out the wood works trying to sell you gold.. if it was worth so much they wouldn’t be selling it they would be keeping it all!
That is terrible advice
Common this dude sucks I wouldn’t take his advice at all.
Well this is aging well.
Gold isn't an investment, it's a savings vehicle against inflation. No one buys gold hoping to make an ROI they buy it in hopes of hedging against inflation
It is not a thing of fear but of protection for you and yours
Gold will always be a way to buy and sell , the US Dollar wont