Dave’s HATRED of GOLD is either insane ignorance or paid-for mutual fund bias. He understands and advocates for term life insurance, but can’t fathom real money “wealth insurance”. A “rock”. Unbelievable.
I realized that Gold Fever was problematic when reading about the Gold Rush Era and there was a comment that the people who really got rich during the rush to find buried gold or silver were the people who sold the equipment to the prospectors.
If someone has a 6 month emergency fund in cash and another 6 month emergency fund worth of gold and you let both of those sit, the gold will retain its value over the cash. It’s that simple. Investments are great to have. Everyone should do it, ESPECIALLY if you have a company match. Free money and compound interest is fantastic! Gold/silver and mutual funds are very different. Growing your cash is not the only consideration. Having accessible cash is another. Maintaining the value of the money is another. There are trade-offs to each contingent, but they all have a place. This shouldn’t be hard to understand.
Cash pays about 5.4% in Vanguards money market account currently so contrary to popular believe cash reserves can actually be an investment when interest rates are high enough
Know what else performs terribly compared to inflation over time? Cash. Gold isn’t an alternative to stocks, it’s an alternative to cash. And relative to cash, gold adds diversification. But most people shouldn’t hold a meaningfully large amount of cash or “cash-like” assets over a long period of time. And so gold as a part of your portfolio is immaterial, and so I don’t suggest owning it. But, in the rare case that someone has to hold a large part of their wealth in a cash-like investment over a long period of time, gold is a good asset alongside cash.
so are treasuries. But let's be honest the VAST majority of people will use gold as an investment and not as a cash alternative. They feel it is an investment, the average American feels they are investment and that it will get them to retirement because their neighbor told them to or the news said so, specially when they tell them that the dollar is going to fail. This normally happens similar to when big companies start selling their positions to short them and buy them back cheap. People make money out of fear from other people
@@benbennington8859 The gold I own is just jewelry handed down to me by my mom and aunts. You are right about gold having intrinsic value that many fans of Dave do not understand because they don't know much about world history and what is happening to countries outside the US. IN war torn countries, gold and silver still have value while fiat money has become worthless. Anything on the periodic table has intrinsic value, in my opinion. Fiat money has no intrinsic value but only operates in a world where the economy is stable and not torn by war or severe economic strife. Plus many have forgotten that the USD used to be backed by gold in the past and why kingdoms ransacked other kingdoms for their gold and silver. For me, I don't see gold or silver as an investment but something that can be used as a replacement for money when needed.
You'd have better rate of return buying and holding raw land that you pay taxes on annually and collect zero income on over a long-period of time than holding gold. Gold is absolute trash. Not to mention the gold market is inflated to an enormous degree just like the diamond market is. Fake scarcity and large corporations spoofing prices to lure in idiots who believe it's an investment and charge them outrageous fees to hold "their" gold. If you buy gold, you deserve the swindling you're getting.
I feel there’s a bit of cherry picking going on. Gold is up 20x since 1976 but only 1.3x since 1980 so yeah which are you gonna look at? It’s also up 7x since 2001 so when did you get in, and when did you get out?
The trick with gold is that it isn't an inflation hedge, but is a hyperinflation hedge. If they ran this same analysis in Venezuela with the Venezuelan stock market it becomes much clearer.
@@ticklefights that is kinda true, but if you look to Lebanon, they used usd, euro, and other currency. But the government locked down bank accounts and you couldn't get paper money. So the most valuable thing people could have was paper usd or paper Lira, gold was only used to buy real estate or an apartment, very large things
@@A_barrel Yes, 100%. Gold doesn't do very well when things are working well. It does much better when things aren't working well. I'd still rather have Bitcoin these days but the idea that owning gold is stupid is an idea shared only by people who don't know much about history.
Dave timed this video perfectly with the dip in 🪙 price to support his views. The dollar today is worth 1/100 of its value in 1913. 🪙 has increased 100x in price since 1913. Pretty good hedge if you ask me. Dave's an old dog who cant learn new tricks.
According to your post, gold has not gained any value since 1913. The dollar you bought that gold with in 1913 lost the same amount of value that the gold "gained"....so gold just held. It did absolutely nothing. Wow...great trick. Invest for 100 years and get nothing in return.
It's an inflation hedge, which means it retains it's value. If you saved 1 oz of gold in 1913, you would have the same purchasing power today as you did in 1913. If you saved $20, you would have lost a lot of purchasing power. That's the point. Gold preserves your wealth. Most people think their investments are going up, but when you actually adjust for inflation, especially real inflation, they'd be surprised how little money they've actually made.
1980 gold was a brief bubbled spike, I could cherry pick $250 gold in 2001, and make an equally deceptive argument. Gold is an insurance policy against hyperinflation, war, wealth tax, and decades long recessions. Japan's stock market is still down 25% over it's 1990 peak. Argentina is experiencing 73% inflation as this video aired. This is like laughing at people who bought fire insurance, because you've invested the premiums and haven't yet needed the coverage. Since Roman Times, on average, a Gold coin will buy you a fancy suite, and a silver coin will get you a steak dinner. That's an inflation hedge. Stock market returns are not inflation, despite what Dave claims here, that's called an opportunity cost.
@donpow4268 Any store, even a bullion/coin dealer? Is it a bad investment? Of course, it is an inflation hedge. Even someone who rides a bubble up is a speculator, which is what you are with crypto. How bad is gold going to get wrecked, and by how much? Give me a ballpark number, and we'll see if you're close.
The issue here is that everyone choses 1980's as a starting point to compare gold & stocks, in this case stocks outperfom gold. But if you get back a little to 1970's gold outperforms stocks by about 1000%!! Also to mention gold is not playing on the same level field, its grately maipulated commodity...
$800 was at the top of a mania during an unprecedented economic downturn. Very interesting to pick this point arbitrarily and then conclude that if you had bought at the top, you would not have "much of an inflation hedge."
Rate of return on gold 2003-2023 approx. 8% pa. Rate of return on S&P 2003-2023 approx. 10% (incl. dividends) pa. U.S. Inflation rate average 2003-2023 approx. 2.5% pa.
@@mathematician1234 :). Thanks for weighing in. My point being its not so stupid. And gold also has the potential to go nuts under the right circumstances. I would not want to be the guy that has no gold exposure in 2024 and 2025.
@@markanthony2495I agree. It's not stupid to own gold. I own a little via a gold ETF. Yes, absolutely, gold has the potential to skyrocket under the right circumstances. I do think the time period they picked here made gold look particularly bad. For balance, they should have picked the best and worst entry points of the last 10, 20, or 30 years and shown the competing returns. Maybe I will go figure that out and report back.
The South Korean government asked SK citizens to donate their gold in whatever form in order to repay their international loans in the late 1990s. In war torn countries, people used gold in whatever form to buy whatever they need. Gold has intrinsic value while fiat currency can become worthless. Look at Argentina or Venezuela or Zimbabwe right now and Germany before World War 2. Having gold should not be viewed as similar to having stocks. And there is a reason why in the past currencies were backed by gold and why other countries are making sure they have enough or a lot of gold reserves.
Gold is just as worthless as the dollar unless you’re making electronics. I can’t eat gold, can’t drink it, can’t use it to take wild game. The only reasons it had “value” historically are because it’s shiny and doesn’t corrode. These days, just like the dollar, it’s only valuable because other people want it.
@@amireallythatgrumpy6508 Gold has intrinsic value (relearn your PERIODIC TABLE) because it has been used to make jewelry and has been used by industries needing gold for materials. It is metal like iron and steel so it has value. Do you know that fiat money is the one with value being projected on by human "stupidity" as you say LOL? It is just paper but the value is in trusting the government issuing the paper money. Once war breaks down the economy, paper money is useless. In the past gold and silver were used to mint coins that were used for transaction. And no, I don't invest in gold because gold is not really an investment so don't get uppity with me. Again, learn history and why kingdoms looted other kingdoms for their gold and other precious metals. Research what happened to the money of Weimar Germany where paper money became worthless. And it is happening now in Argentina, Venezuela and Zimbabwe. The problem with DAve and his followers is that their economics is US-based and the US is still doing well right now because there is NO war in the US. Talk to refugees from other countries so you widen your world view. A lot of Vietnamese refugees I know used their jewelry to pay human smugglers so they could get out of war torn Vietnam in the late 70s to early 80s. I like Dave but his rabid fans have become a cult LOL so they keep mimicking his beliefs that is US-centric. But hey, if you think gold has no intrinsic value and you have gold or even silver jewelry or anything made of gold and silver, you can just give them to me because you believe they have no value. As you said, the value of gold is just a projection of human stupidity. And when war comes to the US, if ever it does, then that's the only time Americans will see that even land can be confiscated by the enemy. But since wars are waged abroad by the US and other countries, then I guess, Americans will just think that life is always about stocks, bonds, and other investments and the mighty US dollar. But then, the Roman Empire collapsed eventually. Sorry for the long essay hahaha. But so many people are uneducated about the realities of life outside the US and World History, including US history.
My parents stashed away some gold I didn't know about, and it paid for their care before they died. So yea, there are real world scenarios that matter as well.
I like Gold~ I have 2% gold (physical gold) in my portfolio on top of my emergency fund (it’s pretty to look at too 😂) …. It’s not an investment (I mean stocks definitely perform so much better long run) .. it’s more of a cash alternative and I think it has its place in a portfolio for diversification. I mean when bonds and stocks haven’t performed so well during war (recent years), gold has done generally fine and kind of makes u feel not so terrible that all ur assets have plummeted … it’s like having some cash on hand when it’s rough outside to make u feel better so u aren’t scared and run out off the stock market.. helps me stay my course for long term investing
There are studies on gold as an inflation hedge. They have found that it only actually works as one over periods of several centuries. This is why the Old Money and institutions like Harvard buy it. But for an average investor who only needs to worry about decades, it is basically just pure speculation.
Centuries? Do some math brother. In 1920 10 kilos of gold could buy you the average American home. In 1956 10 kilos of gold could buy you an average American home. In 1984 8 kilos of gold could buy the average American home. In 1996 10 kilos could buy you the average home. Today 7 kilos could buy you the average American house. I’m not saying to buy 500k of gold right now but having a small percentage of your portfolio for wealth preservation and as a safety net is a proven safe strategy.
@@Bethehustler96that is only applicable to the area you’re buying property. In high valued areas it will actually cost you less based on, say 1969 gold prices and today, the amount of gold to purchase back then required more ozs
And what's the return on cash since 1970 when we were taken off the gold standard. Gallon of gas in 1970 of $0.36/gallon. Emergency fund in cash versus emergency fund in gold, gold is liquid and you don't need to take a hit on a 401k with withdraw fees if you need it. S&P is flat for 2 years now.
Among the conservative thinkers, Dave stands out as a skeptic of gold. I am pleasantly surprised by this. He has retained his mathematical objectivity with respect to gold, and hasn't given into the irrational ideology of buying gold.
I'm surprised you are surprised by this. Dave is saying there are other better investments than gold. E.g. in 45 years, you basically doubled your investment in gold when you could have tripled, quadrupled, etc. it in other investments.
@@LittleMopeHead Yeah. I am agreeing with the math. I am just appreciating Dave for not going with the conservative crowd just for ideology on this. Math is the same regardless of one's ideology, and kudos to Dave for his intellectual integrity on this.
I’ve put small amounts of gold and silver aside over the years, but I don’t buy bullion, I find gold and silver jewelry cheap at garage sales, and sometimes have scored silver coins from the bank for the face value (as in $1 for a silver dollar). It’s cost me pennies on the dollar to own, which I keep as part of my emergency fund, and also sometimes dip into to give gifts. I bought a big jar of jewelry from a garage sale for $4 and found it had an 18k gold ring with four diamonds and an 18k chain, I had the ring resized and gave to the wife. It was appraised at $1400. It’s the only way I justify owning any precious metals.
The truth is gold has intrinsic value that Dave and his fans do not understand. It is not really an investment and the USD used to be backed by gold before like many currencies in the world. In the past, gold and silver were used for transactions and kings looted other kingdoms for the latter's gold and silver. If the US will experience being war torn like many countries, abroad, Americans will realize why gold and silver have value like those in the periodic table. Smugglers accept gold and silver in war torn countries. Fiat money, on the other hand, can become worthless like in Weimar Germany, Argentina, Venezuela, and Zimbabwe.
But how much purchasing power has the dollar lost over the last 60 years? Isn't it worth pennies on the dollar now? So how many dollars do you need to buy the same item today? My grandparents bought their house for 14k, now it's probably worth over 200k...same house, different dollar. I'd like to hear Dave talk about how anemic the dollar has become and why it became that way.
Gold is so terrible, countries buy it by the metric ton. Meanwhile, according to Jazz Wealth Management, 80% of this year's returns are from only 7 stocks.
@@Matys1975 Really? Only fifteen years? Um, OK, how about 1973 to 1993, twenty years when S&P went from about 114 to 400, up 250ish percent. Gold, however, did terribly. It only went from around 107 to 406, up 279 percent. Go be retarded somewhere else.
@@Matys1975literally who cares? Gold remains stable store of wealth and will be able to purchase the same that it always has. For 1000s of years it's been this way. The USD is failing and it's barely 100 years along
Gold isn't a short or long term investment - nobody thinks that except those who don't know much about investing. It is a short term hedge or preservation of capital.
He’s making such a straw man argument. Gold should be used to store the value of cash period. It is not a replacement for mutual fund investment. As a cash replacement with very little risk, it has been a strong store of value since 1980. The numbers say that explicitly.
You left out a third one. Most have a lot of debt as well which is the easiest to do of all apparently. People talk about having gold and other investments with their huge debt and overwhelming negative net worth thinking Chuck Woolery will save them.
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Yeah, also including the 1800s when there was little to no inflation to claim it didn't go up those years so it's not an inflation hedge is also deceptive.
@@amireallythatgrumpy6508 historically speaking, there is more evidence of gold being highly valuable. Cash and the current monetary system is a baby in the grand scheme of civilization.
Gold is not an investment. It is a cash instrument. Instead of comparing gold to stocks or real estate, it should be compared to savings, CDs, or bonds designed to conserve cash value. I recommend mutual funds for everyone, real estate if you can buy it but I also recommend cash savings, some silver for everyone, gold and platinum if you can afford it. A 1964 dime is worth $2 right now, a $5 roll of silver dimes is about $100. That’s 1900% in 60 years. $800 in 90% silver coins would be $16,000. Picking 1980 as your buy date is about as fair as picking 2009 as your sell date for stocks
I have a friend that is gold bug, he's always quick to brag when gold goes up a bit. But in the 15 years or so I've known him his gold investments have done crap compared to a boring old S&P 500 index fund. I admit I've got a few pounds of silver, but that wasn't an investment. I used to do jewelry work and that's just part of the stuff I've got left over. The only reason I haven't sold it is I want to get back to doing some of that when I retire and as it's all casting grain or leftover scraps from castings and I'd take a beating on price if I sold it.
The entire gold market is a sham, spoofed market just like diamonds. Excess gold is held out of the supply to artificially increase the "value" of the gold on the market and it's all run by large corporations that just trade back and forth with each other while they syphon cash off retail boomers like our grandparents and apocalypse bros through fees. It's a racket and it's worth billions in annual cash flow to these companies. Gold is complete nonsense and has absolutely zero use aside from very niche electronics and would be virtually worthless in a situation where our currency collapses. Not to mention these same companies that sell gold IOU's through "funds" would never actually deliver your gold to you in the event of a currency collapse.
Who is arguing that buying gold is an investment? Dave keeps bringing up this straw man argument. The value of gold doesn’t change. It’s the paper money you use to buy gold that changes in value. If the value of the dollar goes down, the “price” of gold goes up. And vice versa.
My question is if you do happen to have gold in economic turmoil who in the world is gonna be giving you money or commodity for it? Especially when many will be soley focused on survival. This is coming from someone who has been stacking for a few years now and attending many coin shows. I just don't see this pile of metal coming to my rescue at all in the future. Nobody is really all that enthusiastic about buying, Which is sad but i do enjoy it somewhat as a hobby. Dont get duped by all the people saying theyd rather have silver than money because them are the ones trying to take YOUR money for METALS.
gold has a valid place in your holdings. Just like single stock so long as you are diversified and not putting your eggs in one basket. Most of Dave's mutual funds likely have some of their holdings in gold. I like other precious metals too, especially because they mint it into standardized and manageable denominations - it's fun to have a small little stack of silver rounds, they make nice gifts/stocking stuffers and they are pretty easy to trade/use/exchange, and they are less volatile than crypto or stocks.
Paper Gold price is $1900...NOT the actual price of PHYSICAL GOLD and when all the naked short sales from the LBMA and NY-Fed are ACTUALLY accounted for---the market price of Physical Gold is nearly astronomical. Has anyone actually seen the gold at Ft. Knox or the Fed vault or City of London Bank vaults? It isn't there!
There's a video on RUclips that goes inside the Bank of England's gold vault. Not that I disagree with your other points but the video is well worth a watch.
i was taught a long time ago that an ounce of gold is the price of tailored man's suit... seems it's still true.... but i'm still waiting for extra wide lapels to be back in style (i should have taken the advice of rod stewart's song "three button hand-me down" to heart)
Not a goldbug but I recently looked @ the gold price over the last 100 years adjusted for inflation & though it soared it has come back down to around the same level today. That’s a lot better than the $ & relatively trustless compared to equities. So why not a little gold (& BTC)?
@@rmartin9426 yep... it's better than buying a suit with extra wide lapels that's for sure... anyway, i agree with you, if you don't have any better opportunities then gold is a "stable investment"... better than insurance, it's a "safety net" against stock losses ... but good farm land is as well and people need to eat and you can't eat gold.... anyway, investments and money are personal decisions and choices and usually they are made on personal circumstances and unfortunately those circumstances "fog" one's ability to make good choices and decisions and that's the reason i really appreciate people like Dave Ramsey, that kinda help people through that "fog" to better choices and lifestyles ...
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A good example of cherry picking. 1980, 1978, paying taxes from another source? I don't think anyone is saying gold is the "best" investment, not even close. But it does have value
You can pick any time frame to make a point . I can pick from Nov 2003 to Nov 2023 -20 years and show gold performed 397% and the S&P 321%. I get it, financial guys hate gold because there is no fees to be made. Gold should not be compared to stocks though, it should be compared to currency. Not a basket of currencies but each currency in direct relation. In this case gold has done its job well. Should it replace stocks, no. However to say it has no place in a portfolio is foolish. Each person is different. If guys told you, like they always do, to just put your assets into a mutual fund in 1999 or 2007 and you were about to retire, you would be toast. Be smart and do your own research. Financial Pundits don’t know you. We have enjoyed loose monetary policy for the last 40 years in the US which has driven up all financial assets. That can change! Look at 66 -82, stocks went nowhere.
Gold is like an insurance policy, it is not lucrative unless you need it. If the currency collapses, or there's a decade long recession, those with gold have preserved a portion of their wealth. If you could go back to 1990 Japan, would you tell investors to go all in on stocks because of "facts", even though they would still be 25% down, 33 years later? Would a 5X to their wealth in gold, be feelings?
@@thejokerspeaks If there is a crash, you'll need food, shelter, water, and petrol. A piece of shiny metal that does nothing. Makes zero sense. Facts are your friend.
@@christinehopping you couldn’t post this comment seeing how that shiny piece of metal is in your phone, computer, basically any electronic chip made. Unlike dollars gold and silver have actual intrinsic value and is far more scares. Dave is correct, Gold isn’t a good investment its more of insurance for hyperinflation. Dave also doesn’t ever need gold as a hyperinflation hedge because he owns hundreds of millions worth in other assets with intrinsic value like real estate. Dollars are nothing more than promissory notes which by definition is something not desirable to hold. I personally believe the dollar was a lot more stable during the Brent and woods system pre 1964 Back when the dollar was tied to gold, unlike today where we just inject trillions of promises notes into the world economy and say except our dollars or risk the United States using military force against you.
@@frothybeaver4869 Point taken. Thank you for the detail info. I didn't think about chips. I thought they were made mostly of sand. My end of the world hedge is 100 year young avocado tree, 30 fruit trees, vegetables, and chickens for eggs.
@@christinehopping that is a beautiful hedge to have. Sounds tasty. I just bought 6 acres of raw land and hope to have a few apple trees when we decide to build our cabin years down the road. Have a great day and I wish you the best of luck in this life journey.
Given all the data, what do central banks want with gold then? Why are so many accumulating gold in their vaults? Why do certain cultures value gold so highly, where it is common to give as gifts and even to buy in ATM-like machines?
I'm not a Gold Bug - I don't own any. But, this video is misleading because the S&P is not the benchmark to judge against gold. Gold is not a replacement to or in competition with the S&P. Gold is an alternative to Cash and the buying power of cash is the benchmark to judge against gold. I'm not saying Gold is good or bad, I'm only saying the article / video is using a false benchmark.
Gold is not the best investment. It’s sad to compare the yellow metal to the s&p. However I collect gold as a hobby and I LOVE it. I add the valuation of it to my net worth which is maybe 20% of the portfolio. Besides doesn’t the US hold the most gold more than any other country combined? Wonder why 🤔 One things for sure I’d rather have gold than cash
My comment about quadrupling my money through gold was removed repeatedly by Dave’s team. Then I was threatened. They don’t allow views differing from Dave’s.
My thought as well. Let's hear gold and s and p comparison from 1971. To1981 during inflationary times. I don't own any but wish I had at least a little in my mix.
Gold isn't an investment, it's a currency and money itself. Buying gold is locking up your wealth for the long run. This video is going to age hilariously once the US's creditors sell US treasuries. If you think the dollar has lost a lot of purchasing power now, we're only getting started. Gold is the ultimate form of money. It will always be valuable. We've been blessed to be the reserve currency as it allows the US to behave with extreme fiscal irresponsibility. Talk to people from Turkey, Venezuela, Eastern Europe, Germany, Lebanon, Vietnam or anywhere that have experienced currency or societal crises and they'll tell you that gold is the safe haven. Of course Dave can treasure his green paper notes that can be printed without a limit but they are getting creamed by inflation. If you believe the US is governed well and manages its finances well then you don't need gold.
Imagine actually believing money exists, or there is such thing as a mythical "reserve currency". Gullible much? The only value gold has is that projected on it by human stupidity
I still think it’s not a bad thing to have as a small piece of a diversified portfolio. An emergency fund of 3 months expenses in cash and another 3 in gold isn’t bad imo.
What are you going to do the with Gold? No one is going to take a gold coin in an emergency. Bottles of water/jeans/booze/2x4's/MRE's/generators/gasoline.
@@danmacgowan8242 1) keeps up with inflation better than cash. 2) it’s slightly illiquid so it’s harder to spend recklessly, and 3) if there is an economic situation like a bank run or high inflation, it’s nice to know I have physical assets. 4) it’s very easy to take a lot of value with me if I needed to. The vast amount of your portfolio should be invested in the market and yes it’s good to have all of those things too, but I don’t see the issue owning a few gold coins or some silver bars
Good points but anything you own on paper can be taken from you, your accounts frozen for violating a new nonsense policy which is happening all too often. Try selling gold, it is one of the most liquid assets and you really do not need permission to sell. Stock trading was recently halted in the UK on a whim by an agency. Assets that are not subject to a third party are always preferable.
Everything has it's pros and cons. stocks are tied to a fiat currency. You can have a billion of a stock worth 500 buckaroos a share, but that doesn't mean squat if the buckaroo is worthless. Gold doesn't do diddly until you sell it (if you can even find someone to buy it at fair price) and stocks can becomes worthless due to hyper inflation. Be mindful of what form to store your wealth and the implications of using each method. Make the decision you can live with.
Keep accumulating the toilet paper known as USD. It's becoming increasingly worth less, literally, every second. Gold still buys what it has always bought.
Dave is wrong here. He’s going back to the 70’s to fit his argument. In the last 25 years gold has outperformed the markets. And gold and silver do keep up with inflation, the dollar doesn’t. A silver quarter bought a candy bar in the 50’s and 60’s. That same silver quarter, worth about $3 in silver weight, still buys that candy bar today.
I love how the analysis cherry picks to the Top of the gold price in 1980, as if everyone bought the peak. What about the investment return buying gold at $35 an ounce and its now $1900. Gold is insurance / cash and part of a diversified portfolio including stocks.
@@ChrisMFlorida Aww someone who can't objectivity do math or analysis. Judging by Ramsey's comments here gold is better than the Nasdaq. If you bought the peak at 5000 Nasdaq in the year 2000 it's only at 13,000 now. Worse return than gold.. Just saying anyone can cherry pick a story to make it fit their narrative,.
Gold is used by wackos and paranoid people who say that you should sell everything and just own gold for the times when the "evil government" comes after your money. It is a ridiculous argument
GOLD is better in some countries and certain time periods..... Argentina, Weimar Germany... Sriracha owner snuck gold out of Vietnam to help fund his business. Loads of examples.
@@David_Bang_ Remember the scene at the end of "Centennial", the Indian pulls a Gold musket ball out of this pouch and tells the Trapper "It works real good"
Has anyone ever thought about dollar cost averaging gold, silver, platinum and palladium? Yes. Of course these don’t appreciate with any significant percentage. It’s much better than a bank account, however. Also…. If it’s in a metal, you are far less likely to use it for impulse spending. Are metals good for end of the world scenarios? Absolutely not. It isn’t dumb or stupid to buy them. It just depends upon your use case.
@@TonyCox1351yeah that is my problem with it. If you can still trade gold you can probably still trade stocks too. If you can't buy/sell stocks most likely no one cares about your gold either
You would be surprised to learn that in war torn countries, golden and silver jewelry and even other stuff made of gold and silver were indeed used to buy what is needed. Some smugglers accept gold as payment as well (even in human smuggling). South Korea used donated gold from citizens to pay off their international debt. Fiat money has lost its value in many foreign countries like Argentina, Zimbabwe, and Venezuela.
100 years ago 1oz of silver would buy you a meal for one person and 1oz of gold would buy one person a nice suit/dress. Silver is around $20 an oz, that's a meal. $1900 an oz for gold, still a nice suit/dress. Gold doesn't keep up with inflation but it does maintain purchase power mostly due to advancements in technology.
@@amireallythatgrumpy6508 Troy ounces are the world standard units for precious metal bullion. All the major world mints produce bullion in this weight except the Chinese who use a lesser 30g standard. You can buy it by the gram, or multiples thereof. But, spot price is based on the Troy oz worldwide.
What bothers me about investing in gold is how the advertisers are preying on the fears of people. That is sad. Also, for you to win big with gold it will be because everyone else loses. AND btw, if the economy does collapse, who is going to buy those gold bars? Just my thoughts.
When economy collapses, what medium of exchange people will use? Will there be wealthy people in such times? Will they own assets? Will they want to trade assets or build enterprises?
I am an advisor and agree 100%. However, most gold enthusiasts want it for the end of the world and stock market because they feel they can cut off a sliver and live and when everything comes back. Gold will be what monetary policy is based on, so they will be good lol
We early Americans created the dollar with God’s material of course but God created gold and in the early chapters of Genesis he called it good. The dollar will not exist in eternity but gold is clearly there. An insurmountable amount of currencies have been created as empires rise and fall try using most of them today and see what it gets you. I don’t think gold will get you rich today unless you uncover it at the bottom of the sea or find Solomons hidden mines but to write off Gods gold seems foolish to me.
Gold in the temple has value cause it was worked upon by craftsmen in a labor of worship and skill. If you were to extract it from the temple you forfeited your life before God and men. But render onto Caesar what is Caesar’s. The gold of a coin did not matter to Jesus, but what the image that was pressed on it represented. It was Rome’s gold. The very hand that would pierce his side was represented with a gold coin. I have to side with Dave and George on this one. Should the dollar truly fail, you want beans, bullet, and acreage. Gold won’t be useful until it’s melted and rendered to either God or men.
Gold is preferable to fiat money in a mattress... That might well be the only financial instrument that it outperforms in the long-term. It's also shiny and looks nice, so I guess there's that.
Seems more like debt,paycheck to paycheck,big,FOMO,YOLO,too big of home you can’t truly afford,living beyondcmeans,student loans,etc. is preferable from what I have been observing even for the ones with the little gold they have. Makes no sense. To benefit for any outperformance long term from any investment you have to focus on personal financial issues first.
What Dave does NOT say is that the dollars you buy stock or funds with has lost nearly ALL it's appreciable value and gold never looses value because it's value is intrinsic. In 1913 (when the Fed became) your dollar was incredibly valuable. Now, that same dollar can buy about 2 pennies worth of that same valuable dollar. In 1927 The Spirit of St. Louis (the plane that first flew over the Atlantic ocean) cost about $15k. That's well over 250k pre-covid money. Since Covid, the money supply has increased by about 90%. So about 90% of all the dollars EVER printed was printed in the last three years. If you don't want your gold, I'll gladly take it off your hands. What is just as good or better than gold is landed capital (which Dave has lots of---And I bet he has lots of metal too).
Yet another idiot that does not know the difference between "lose" and "loose". Stay in school, kids. Gold never loses value because it has never had any
I came to the same conclusion that gold will not protect you from inflation. IMHO you can protect yourself from inflation with the following 1. SS is adjusted by inflation each year. Taking it at 70 means the annual inflation adjustment will be larger and will compound each year. 2. Stock Market Businesses are focused on making a profit and they can do this during low or high inflation. 3. Real Estate Owning your home will protect you from higher housing costs and it will increase in value. This will give you the ability to downside and pocked some of the profit.
Tell the Argentines, the Lebanese, or even the Japanese that gold is an illusory investment. It’s insurance against central bank distress and money printing and always has been.
@@amireallythatgrumpy6508 You have no idea what you’re talking about. Look at the charts of gold priced in the currencies of the countries I mentioned above. By no means should gold be a huge part of a portfolio, but it is an important diversifier and hedge.
@@lolwtnick4362 what else would be priced in? Gold isn’t a standalone currency and isn’t priced independently of fiat. Gold’s value is everywhere it’s intrinsic value vis a vis fiat. Your logic is circular and self-defeating.
Cherry picking dates from 1971 against gold does offer a decent argument. However from 2003 which is more up to date ,gold out performed stocks. Gold should be in every portfolio but in a small percentage. Most gold investors also own stocks, why does the discussion always have to be one or the other. All your money in stocks is high exposure . Why cant these guys talk about balance?
Haha I love the rants but I made 10% on my gold in 1 year including buying and selling it. I made over 600% on my crypto in 4 years including buying it and selling it all… so 😅😅😅
Dave’s HATRED of GOLD is either insane ignorance or paid-for mutual fund bias. He understands and advocates for term life insurance, but can’t fathom real money “wealth insurance”. A “rock”. Unbelievable.
In 1873, a $20 gold piece would purchase a state of the art firearm. Today, in 2023 (150 years later), it still will. That is an inflation defeater.
According to the NGC Price Guide, as of September 2023, a $20 Liberty Head from 1873 in circulated condition is worth between $1990 and $5500.
Your casting pearls before the Ramsey swine my man
Firearms didn't exist in 1873.
@@amireallythatgrumpy6508 You’re asserting that?
Yes, since you delusional Americans are always wrong.@@jimflowers6455
Comparing to the previous top is as valid as comparing it to the previous low.
5% of your wealth in silver and gold is good insurance against hyper-inflation or a bank run.
Insurance, not an investment.
I realized that Gold Fever was problematic when reading about the Gold Rush Era and there was a comment that the people who really got rich during the rush to find buried gold or silver were the people who sold the equipment to the prospectors.
That's like saying cash is problematic because you heard about someone throwing their back out searching couches looking for free change.
@@thejokerspeaksnot really
Exactly, like Levi's made out like bandits because they got to sell jeans to all the prospectors
irrelevant and bizarre take
If someone has a 6 month emergency fund in cash and another 6 month emergency fund worth of gold and you let both of those sit, the gold will retain its value over the cash. It’s that simple. Investments are great to have. Everyone should do it, ESPECIALLY if you have a company match. Free money and compound interest is fantastic!
Gold/silver and mutual funds are very different.
Growing your cash is not the only consideration. Having accessible cash is another. Maintaining the value of the money is another. There are trade-offs to each contingent, but they all have a place. This shouldn’t be hard to understand.
Cash pays about 5.4% in Vanguards money market account currently so contrary to popular believe cash reserves can actually be an investment when interest rates are high enough
Many top investors on wall street recommend 5-10% portfolio of gold allocation. I’d rather listen to them
Know what else performs terribly compared to inflation over time? Cash. Gold isn’t an alternative to stocks, it’s an alternative to cash. And relative to cash, gold adds diversification. But most people shouldn’t hold a meaningfully large amount of cash or “cash-like” assets over a long period of time. And so gold as a part of your portfolio is immaterial, and so I don’t suggest owning it. But, in the rare case that someone has to hold a large part of their wealth in a cash-like investment over a long period of time, gold is a good asset alongside cash.
Me when I eat gold and heat my house with gold during the ACTUALLY hard economic times@@benbennington8859
so are treasuries. But let's be honest the VAST majority of people will use gold as an investment and not as a cash alternative. They feel it is an investment, the average American feels they are investment and that it will get them to retirement because their neighbor told them to or the news said so, specially when they tell them that the dollar is going to fail. This normally happens similar to when big companies start selling their positions to short them and buy them back cheap. People make money out of fear from other people
@@benbennington8859 The gold I own is just jewelry handed down to me by my mom and aunts. You are right about gold having intrinsic value that many fans of Dave do not understand because they don't know much about world history and what is happening to countries outside the US. IN war torn countries, gold and silver still have value while fiat money has become worthless. Anything on the periodic table has intrinsic value, in my opinion.
Fiat money has no intrinsic value but only operates in a world where the economy is stable and not torn by war or severe economic strife. Plus many have forgotten that the USD used to be backed by gold in the past and why kingdoms ransacked other kingdoms for their gold and silver.
For me, I don't see gold or silver as an investment but something that can be used as a replacement for money when needed.
You'd have better rate of return buying and holding raw land that you pay taxes on annually and collect zero income on over a long-period of time than holding gold. Gold is absolute trash. Not to mention the gold market is inflated to an enormous degree just like the diamond market is. Fake scarcity and large corporations spoofing prices to lure in idiots who believe it's an investment and charge them outrageous fees to hold "their" gold. If you buy gold, you deserve the swindling you're getting.
@@benbennington8859weird because gold value is based off of... dollar value. soo it's exactly the same
I feel there’s a bit of cherry picking going on. Gold is up 20x since 1976 but only 1.3x since 1980 so yeah which are you gonna look at? It’s also up 7x since 2001 so when did you get in, and when did you get out?
When your faith is in the current system, you get that kind of discussion 😂😂😂
Then why are other countries buying gold at a record rate along with banks here in America? Explain that please..
How much gold did the fed print this year?
Zero, but they did double the base currency supply in the last three years. Got to give somebody credit for causing prices to double.
They didn't bother because they know it's worthless
@@amireallythatgrumpy6508Than why does the Federal reserve hold all that Gold if it worthless?
I like Kevin O'Leary's guideline he uses, no more than 5% in commodities as a hedge against all odds. He'd rather invest in gold mining companies
The trick with gold is that it isn't an inflation hedge, but is a hyperinflation hedge. If they ran this same analysis in Venezuela with the Venezuelan stock market it becomes much clearer.
He’s reducing gold and heavily increasing bitcoin.
@@ticklefights that is kinda true, but if you look to Lebanon, they used usd, euro, and other currency. But the government locked down bank accounts and you couldn't get paper money. So the most valuable thing people could have was paper usd or paper Lira, gold was only used to buy real estate or an apartment, very large things
@@A_barrel Yes, 100%. Gold doesn't do very well when things are working well. It does much better when things aren't working well. I'd still rather have Bitcoin these days but the idea that owning gold is stupid is an idea shared only by people who don't know much about history.
Dave timed this video perfectly with the dip in 🪙 price to support his views. The dollar today is worth 1/100 of its value in 1913. 🪙 has increased 100x in price since 1913. Pretty good hedge if you ask me. Dave's an old dog who cant learn new tricks.
According to your post, gold has not gained any value since 1913. The dollar you bought that gold with in 1913 lost the same amount of value that the gold "gained"....so gold just held. It did absolutely nothing. Wow...great trick. Invest for 100 years and get nothing in return.
@@penguin12902 it's purpose is to hold value, a safe move, not a move to grow wealth and get rich.
@@penguin12902 what happens to real estate that you just hold and don't rent to anyone?
@@ewinslow822 Real estate prices have almost doubled since 2018
It's an inflation hedge, which means it retains it's value. If you saved 1 oz of gold in 1913, you would have the same purchasing power today as you did in 1913.
If you saved $20, you would have lost a lot of purchasing power. That's the point. Gold preserves your wealth.
Most people think their investments are going up, but when you actually adjust for inflation, especially real inflation, they'd be surprised how little money they've actually made.
I would love to see a debate between Dave Ramsey vs Peter Schiff on gold. 🤣😆
I personally call Peter Schiff's show "The Peter Shitshow".
1980 gold was a brief bubbled spike, I could cherry pick $250 gold in 2001, and make an equally deceptive argument. Gold is an insurance policy against hyperinflation, war, wealth tax, and decades long recessions. Japan's stock market is still down 25% over it's 1990 peak. Argentina is experiencing 73% inflation as this video aired. This is like laughing at people who bought fire insurance, because you've invested the premiums and haven't yet needed the coverage. Since Roman Times, on average, a Gold coin will buy you a fancy suite, and a silver coin will get you a steak dinner. That's an inflation hedge. Stock market returns are not inflation, despite what Dave claims here, that's called an opportunity cost.
Right lol y start at 800? When it really started at 35 a ounce Dave is a blow hard
You are in lala land, nobody will take a gold coin in any store. It’s a bad investment and crypto will be putting an end to gold
@donpow4268 Any store, even a bullion/coin dealer? Is it a bad investment? Of course, it is an inflation hedge. Even someone who rides a bubble up is a speculator, which is what you are with crypto. How bad is gold going to get wrecked, and by how much? Give me a ballpark number, and we'll see if you're close.
The issue here is that everyone choses 1980's as a starting point to compare gold & stocks, in this case stocks outperfom gold. But if you get back a little to 1970's gold outperforms stocks by about 1000%!!
Also to mention gold is not playing on the same level field, its grately maipulated commodity...
$800 was at the top of a mania during an unprecedented economic downturn. Very interesting to pick this point arbitrarily and then conclude that if you had bought at the top, you would not have "much of an inflation hedge."
LOL yes. Suppose the author had compared gold to the S&P 500 from 2003 to 2023. What kind of results then? Oh wait gold did better?
Rate of return on gold 2003-2023 approx. 8% pa.
Rate of return on S&P 2003-2023 approx. 10% (incl. dividends) pa.
U.S. Inflation rate average 2003-2023 approx. 2.5% pa.
@@mathematician1234 :). Thanks for weighing in. My point being its not so stupid. And gold also has the potential to go nuts under the right circumstances. I would not want to be the guy that has no gold exposure in 2024 and 2025.
@@markanthony2495I agree. It's not stupid to own gold. I own a little via a gold ETF. Yes, absolutely, gold has the potential to skyrocket under the right circumstances. I do think the time period they picked here made gold look particularly bad. For balance, they should have picked the best and worst entry points of the last 10, 20, or 30 years and shown the competing returns. Maybe I will go figure that out and report back.
He looked at a 40+ year period. Gold is an awful investment
The South Korean government asked SK citizens to donate their gold in whatever form in order to repay their international loans in the late 1990s. In war torn countries, people used gold in whatever form to buy whatever they need. Gold has intrinsic value while fiat currency can become worthless. Look at Argentina or Venezuela or Zimbabwe right now and Germany before World War 2.
Having gold should not be viewed as similar to having stocks. And there is a reason why in the past currencies were backed by gold and why other countries are making sure they have enough or a lot of gold reserves.
Gold is just as worthless as the dollar unless you’re making electronics. I can’t eat gold, can’t drink it, can’t use it to take wild game. The only reasons it had “value” historically are because it’s shiny and doesn’t corrode. These days, just like the dollar, it’s only valuable because other people want it.
You're casting pearls before swine in these YT vids
Gold does not have "intrinsic value". Its only value is that projected on it by human stupidity.
@@amireallythatgrumpy6508 have you ever held 20 oz of gold in your hands?
@@amireallythatgrumpy6508 Gold has intrinsic value (relearn your PERIODIC TABLE) because it has been used to make jewelry and has been used by industries needing gold for materials.
It is metal like iron and steel so it has value. Do you know that fiat money is the one with value being projected on by human "stupidity" as you say LOL? It is just paper but the value is in trusting the government issuing the paper money. Once war breaks down the economy, paper money is useless.
In the past gold and silver were used to mint coins that were used for transaction.
And no, I don't invest in gold because gold is not really an investment so don't get uppity with me.
Again, learn history and why kingdoms looted other kingdoms for their gold and other precious metals. Research what happened to the money of Weimar Germany where paper money became worthless. And it is happening now in Argentina, Venezuela and Zimbabwe.
The problem with DAve and his followers is that their economics is US-based and the US is still doing well right now because there is NO war in the US. Talk to refugees from other countries so you widen your world view.
A lot of Vietnamese refugees I know used their jewelry to pay human smugglers so they could get out of war torn Vietnam in the late 70s to early 80s.
I like Dave but his rabid fans have become a cult LOL so they keep mimicking his beliefs that is US-centric.
But hey, if you think gold has no intrinsic value and you have gold or even silver jewelry or anything made of gold and silver, you can just give them to me because you believe they have no value. As you said, the value of gold is just a projection of human stupidity.
And when war comes to the US, if ever it does, then that's the only time Americans will see that even land can be confiscated by the enemy. But since wars are waged abroad by the US and other countries, then I guess, Americans will just think that life is always about stocks, bonds, and other investments and the mighty US dollar. But then, the Roman Empire collapsed eventually.
Sorry for the long essay hahaha. But so many people are uneducated about the realities of life outside the US and World History, including US history.
My parents stashed away some gold I didn't know about, and it paid for their care before they died. So yea, there are real world scenarios that matter as well.
My father survived 1970s unemployment and kept all 7 of us eating meat with his silver.
Did you pay the care home in gold bars or in the dollars 💵 you sold it for?
They could have stashed cash too...
@@amireallythatgrumpy6508 that was in the 3 properties they left me…
My parents stashed away some stocks, and it not only paid for their care in the old folks' home, but left me with a pleasant portfolio.
I like Gold~ I have 2% gold (physical gold) in my portfolio on top of my emergency fund (it’s pretty to look at too 😂) …. It’s not an investment (I mean stocks definitely perform so much better long run) .. it’s more of a cash alternative and I think it has its place in a portfolio for diversification. I mean when bonds and stocks haven’t performed so well during war (recent years), gold has done generally fine and kind of makes u feel not so terrible that all ur assets have plummeted … it’s like having some cash on hand when it’s rough outside to make u feel better so u aren’t scared and run out off the stock market.. helps me stay my course for long term investing
There are studies on gold as an inflation hedge. They have found that it only actually works as one over periods of several centuries. This is why the Old Money and institutions like Harvard buy it. But for an average investor who only needs to worry about decades, it is basically just pure speculation.
Centuries? Do some math brother. In 1920 10 kilos of gold could buy you the average American home. In 1956 10 kilos of gold could buy you an average American home. In 1984 8 kilos of gold could buy the average American home. In 1996 10 kilos could buy you the average home. Today 7 kilos could buy you the average American house. I’m not saying to buy 500k of gold right now but having a small percentage of your portfolio for wealth preservation and as a safety net is a proven safe strategy.
@@Bethehustler96that is only applicable to the area you’re buying property. In high valued areas it will actually cost you less based on, say 1969 gold prices and today, the amount of gold to purchase back then required more ozs
@@mattbenz99FACT
@@mattbenz99BTC is much better
And what's the return on cash since 1970 when we were taken off the gold standard. Gallon of gas in 1970 of $0.36/gallon. Emergency fund in cash versus emergency fund in gold, gold is liquid and you don't need to take a hit on a 401k with withdraw fees if you need it. S&P is flat for 2 years now.
Among the conservative thinkers, Dave stands out as a skeptic of gold. I am pleasantly surprised by this. He has retained his mathematical objectivity with respect to gold, and hasn't given into the irrational ideology of buying gold.
Dave doesn’t understand gold.
I'm surprised you are surprised by this. Dave is saying there are other better investments than gold. E.g. in 45 years, you basically doubled your investment in gold when you could have tripled, quadrupled, etc. it in other investments.
@@LittleMopeHead Yeah. I am agreeing with the math. I am just appreciating Dave for not going with the conservative crowd just for ideology on this. Math is the same regardless of one's ideology, and kudos to Dave for his intellectual integrity on this.
@@TheAhmedviennaHe understands its a crappy investment, which it is.
@@TheAhmedviennaDid you even listen? The article explained it clearly. Maybe you're the one who doesn't understand.
I’ve put small amounts of gold and silver aside over the years, but I don’t buy bullion, I find gold and silver jewelry cheap at garage sales, and sometimes have scored silver coins from the bank for the face value (as in $1 for a silver dollar). It’s cost me pennies on the dollar to own, which I keep as part of my emergency fund, and also sometimes dip into to give gifts. I bought a big jar of jewelry from a garage sale for $4 and found it had an 18k gold ring with four diamonds and an 18k chain, I had the ring resized and gave to the wife. It was appraised at $1400. It’s the only way I justify owning any precious metals.
appraised? the only ones you should trust are at pawn shops.
Dude, time to quit the subtle tactics and go hard at precious metals. We've got a few months now at best.
So why does the federal reserve have all that gold locked up?
Good Question no answer
The truth is gold has intrinsic value that Dave and his fans do not understand. It is not really an investment and the USD used to be backed by gold before like many currencies in the world. In the past, gold and silver were used for transactions and kings looted other kingdoms for the latter's gold and silver.
If the US will experience being war torn like many countries, abroad, Americans will realize why gold and silver have value like those in the periodic table. Smugglers accept gold and silver in war torn countries. Fiat money, on the other hand, can become worthless like in Weimar Germany, Argentina, Venezuela, and Zimbabwe.
@@whatevergoesforme5129 appears banks also manipulate the price.
I’ll keep my rocks for now.
No it doesn't. The only value gold has is that projected on it by human stupidity.@@whatevergoesforme5129
They don't. They print money and loan it to the USA at interest due.
But how much purchasing power has the dollar lost over the last 60 years? Isn't it worth pennies on the dollar now? So how many dollars do you need to buy the same item today? My grandparents bought their house for 14k, now it's probably worth over 200k...same house, different dollar.
I'd like to hear Dave talk about how anemic the dollar has become and why it became that way.
Gold is so terrible, countries buy it by the metric ton. Meanwhile, according to Jazz Wealth Management, 80% of this year's returns are from only 7 stocks.
If you look at say any 15 year period in US history where the S&P 500 existed, what proportion of periods have gold outperforming the S&P 500 ?
@@Matys1975 Really? Only fifteen years? Um, OK, how about 1973 to 1993, twenty years when S&P went from about 114 to 400, up 250ish percent. Gold, however, did terribly. It only went from around 107 to 406, up 279 percent. Go be retarded somewhere else.
Shows how stupid the countries are
@@Matys1975literally who cares? Gold remains stable store of wealth and will be able to purchase the same that it always has. For 1000s of years it's been this way. The USD is failing and it's barely 100 years along
LMAO once it goes down it knocks everything else out with it, including any perceived value of gold@@dungeonmaster6292
Gold isn't a short or long term investment - nobody thinks that except those who don't know much about investing. It is a short term hedge or preservation of capital.
Or good for smuggling $ across borders 😂😂😂😂
Dave "Gold is a shiny rock" Ramsey ✨️
He’s making such a straw man argument. Gold should be used to store the value of cash period. It is not a replacement for mutual fund investment. As a cash replacement with very little risk, it has been a strong store of value since 1980. The numbers say that explicitly.
Easy own both. Just have 5-10% max in gold/silver and invest everything else in stocks/mutual fund.
You left out a third one.
Most have a lot of debt as well which is the easiest to do of all apparently.
People talk about having gold and other investments with their huge debt and overwhelming negative net worth thinking Chuck Woolery will save them.
Peter Schiff agrees 100% with you Dave
Lol
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
Using the 1980 peak as a starting point is inherently deceptive.
Yeah, also including the 1800s when there was little to no inflation to claim it didn't go up those years so it's not an inflation hedge is also deceptive.
economic systems come and go but gold will always be with us
But it won't always be valued
@@amireallythatgrumpy6508 historically speaking, there is more evidence of gold being highly valuable. Cash and the current monetary system is a baby in the grand scheme of civilization.
@@amireallythatgrumpy6508it has for 5000 years been valued and transferred as civilizations collapse and a built anew
Its only value is that currently projected on it by human stupidity. @@dungeonmaster6292
Its only value is that currently projected on it by human stupidity@@mickyguy157
It’s not an investment
It’s not an investment
It’s not an investment
It’s not an investment
It’s not an investment
Next up… mutual funds over index funds. Strewth!
It was never meant to be an investment
It really isn’t anything for people paycheck to paycheck with debt.
IT'S A STORE OF WEALTH
5% of your wealth in silver and gold is good insurance against hyper-inflation or a bank run.
Insurance, not an investment.
Gold is not an investment. It is a cash instrument. Instead of comparing gold to stocks or real estate, it should be compared to savings, CDs, or bonds designed to conserve cash value. I recommend mutual funds for everyone, real estate if you can buy it but I also recommend cash savings, some silver for everyone, gold and platinum if you can afford it. A 1964 dime is worth $2 right now, a $5 roll of silver dimes is about $100. That’s 1900% in 60 years. $800 in 90% silver coins would be $16,000. Picking 1980 as your buy date is about as fair as picking 2009 as your sell date for stocks
I have a friend that is gold bug, he's always quick to brag when gold goes up a bit. But in the 15 years or so I've known him his gold investments have done crap compared to a boring old S&P 500 index fund. I admit I've got a few pounds of silver, but that wasn't an investment. I used to do jewelry work and that's just part of the stuff I've got left over. The only reason I haven't sold it is I want to get back to doing some of that when I retire and as it's all casting grain or leftover scraps from castings and I'd take a beating on price if I sold it.
Everyone I have known through the years that stock piled gold has since died or divorced.
Wife/ex-wife cash it in and spent it all.
Has anyone noticed that all those "experts' and celebrities touting gold are selling it, not buying?
The entire gold market is a sham, spoofed market just like diamonds. Excess gold is held out of the supply to artificially increase the "value" of the gold on the market and it's all run by large corporations that just trade back and forth with each other while they syphon cash off retail boomers like our grandparents and apocalypse bros through fees. It's a racket and it's worth billions in annual cash flow to these companies. Gold is complete nonsense and has absolutely zero use aside from very niche electronics and would be virtually worthless in a situation where our currency collapses. Not to mention these same companies that sell gold IOU's through "funds" would never actually deliver your gold to you in the event of a currency collapse.
Physical gold has an extremely high premium over spot price. It usually will have to go up hundreds just to be able to make a little bit of money.
And no one will buy it for the going rate.
@@alinatamashevich3354 very true. If spot is 1900, shops would probably pay 1700 if you were lucky
That's not true at all.
@@rustyshackleford2719 OK, I have a few thousand in gold coins, you willing to pay market rate?
An ounce of gold could be traded for a quality suit 100 years ago, it does the same today, having advanced not at all
That's the point of gold. It's not meant to be an investment.
Civilised people do not measure things in ounces
Who is arguing that buying gold is an investment? Dave keeps bringing up this straw man argument. The value of gold doesn’t change. It’s the paper money you use to buy gold that changes in value. If the value of the dollar goes down, the “price” of gold goes up. And vice versa.
My question is if you do happen to have gold in economic turmoil who in the world is gonna be giving you money or commodity for it? Especially when many will be soley focused on survival. This is coming from someone who has been stacking for a few years now and attending many coin shows. I just don't see this pile of metal coming to my rescue at all in the future. Nobody is really all that enthusiastic about buying, Which is sad but i do enjoy it somewhat as a hobby. Dont get duped by all the people saying theyd rather have silver than money because them are the ones trying to take YOUR money for METALS.
gold has a valid place in your holdings. Just like single stock so long as you are diversified and not putting your eggs in one basket. Most of Dave's mutual funds likely have some of their holdings in gold. I like other precious metals too, especially because they mint it into standardized and manageable denominations - it's fun to have a small little stack of silver rounds, they make nice gifts/stocking stuffers and they are pretty easy to trade/use/exchange, and they are less volatile than crypto or stocks.
Paper Gold price is $1900...NOT the actual price of PHYSICAL GOLD and when all the naked short sales from the LBMA and NY-Fed are ACTUALLY accounted for---the market price of Physical Gold is nearly astronomical. Has anyone actually seen the gold at Ft. Knox or the Fed vault or City of London Bank vaults? It isn't there!
Yup there are about 22 ounces of gold for every ounce of gold
There's a video on RUclips that goes inside the Bank of England's gold vault. Not that I disagree with your other points but the video is well worth a watch.
i was taught a long time ago that an ounce of gold is the price of tailored man's suit... seems it's still true.... but i'm still waiting for extra wide lapels to be back in style (i should have taken the advice of rod stewart's song "three button hand-me down" to heart)
You should have been taught that no intelligent people measure anything in ounces
Not a goldbug but I recently looked @ the gold price over the last 100 years adjusted for inflation & though it soared it has come back down to around the same level today. That’s a lot better than the $ & relatively trustless compared to equities. So why not a little gold (& BTC)?
@@rmartin9426 yep... it's better than buying a suit with extra wide lapels that's for sure... anyway, i agree with you, if you don't have any better opportunities then gold is a "stable investment"... better than insurance, it's a "safety net" against stock losses ... but good farm land is as well and people need to eat and you can't eat gold.... anyway, investments and money are personal decisions and choices and usually they are made on personal circumstances and unfortunately those circumstances "fog" one's ability to make good choices and decisions and that's the reason i really appreciate people like Dave Ramsey, that kinda help people through that "fog" to better choices and lifestyles ...
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A good example of cherry picking. 1980, 1978, paying taxes from another source? I don't think anyone is saying gold is the "best" investment, not even close. But it does have value
You can pick any time frame to make a point . I can pick from Nov 2003 to Nov 2023 -20 years and show gold performed 397% and the S&P 321%. I get it, financial guys hate gold because there is no fees to be made. Gold should not be compared to stocks though, it should be compared to currency. Not a basket of currencies but each currency in direct relation. In this case gold has done its job well. Should it replace stocks, no. However to say it has no place in a portfolio is foolish. Each person is different. If guys told you, like they always do, to just put your assets into a mutual fund in 1999 or 2007 and you were about to retire, you would be toast. Be smart and do your own research. Financial Pundits don’t know you. We have enjoyed loose monetary policy for the last 40 years in the US which has driven up all financial assets. That can change! Look at 66 -82, stocks went nowhere.
Bought gold in 2009 at 1000 CAD. Its now at 2700 CAD. Im happy. Wait till 2024 when housing collapses and s&p falls 20% while gold goes up 20%.
20% of zero is zero.
Feelings are not facts, and I like how Dave used facts not feelings.
Gold is like an insurance policy, it is not lucrative unless you need it. If the currency collapses, or there's a decade long recession, those with gold have preserved a portion of their wealth. If you could go back to 1990 Japan, would you tell investors to go all in on stocks because of "facts", even though they would still be 25% down, 33 years later? Would a 5X to their wealth in gold, be feelings?
@@thejokerspeaks If there is a crash, you'll need food, shelter, water, and petrol. A piece of shiny metal that does nothing. Makes zero sense. Facts are your friend.
@@christinehopping you couldn’t post this comment seeing how that shiny piece of metal is in your phone, computer, basically any electronic chip made. Unlike dollars gold and silver have actual intrinsic value and is far more scares. Dave is correct, Gold isn’t a good investment its more of insurance for hyperinflation. Dave also doesn’t ever need gold as a hyperinflation hedge because he owns hundreds of millions worth in other assets with intrinsic value like real estate. Dollars are nothing more than promissory notes which by definition is something not desirable to hold. I personally believe the dollar was a lot more stable during the Brent and woods system pre 1964 Back when the dollar was tied to gold, unlike today where we just inject trillions of promises notes into the world economy and say except our dollars or risk the United States using military force against you.
@@frothybeaver4869 Point taken. Thank you for the detail info. I didn't think about chips. I thought they were made mostly of sand. My end of the world hedge is 100 year young avocado tree, 30 fruit trees, vegetables, and chickens for eggs.
@@christinehopping that is a beautiful hedge to have. Sounds tasty. I just bought 6 acres of raw land and hope to have a few apple trees when we decide to build our cabin years down the road. Have a great day and I wish you the best of luck in this life journey.
Given all the data, what do central banks want with gold then? Why are so many accumulating gold in their vaults? Why do certain cultures value gold so highly, where it is common to give as gifts and even to buy in ATM-like machines?
Only one reason. Human stupidity.
I'm not a Gold Bug - I don't own any. But, this video is misleading because the S&P is not the benchmark to judge against gold. Gold is not a replacement to or in competition with the S&P. Gold is an alternative to Cash and the buying power of cash is the benchmark to judge against gold. I'm not saying Gold is good or bad, I'm only saying the article / video is using a false benchmark.
Gold is not the best investment. It’s sad to compare the yellow metal to the s&p. However I collect gold as a hobby and I LOVE it. I add the valuation of it to my net worth which is maybe 20% of the portfolio. Besides doesn’t the US hold the most gold more than any other country combined? Wonder why 🤔 One things for sure I’d rather have gold than cash
“Dave’s compound”?? I highly doubt Dave is a prepper.
Precious metals: fresh brass, heavy lead, shinny blued steel and a nice stain.
Bullets and ammo?? Lmao Tell me you don't own guns without telling me George.
My comment about quadrupling my money through gold was removed repeatedly by Dave’s team. Then I was threatened. They don’t allow views differing from Dave’s.
Nick Murray is the man!!! His book The Game of Numbers kept me going during the tough times of my job.
My thought as well. Let's hear gold and s and p comparison from 1971. To1981 during inflationary times. I don't own any but wish I had at least a little in my mix.
Gold isn't an investment, it's a currency and money itself. Buying gold is locking up your wealth for the long run. This video is going to age hilariously once the US's creditors sell US treasuries. If you think the dollar has lost a lot of purchasing power now, we're only getting started. Gold is the ultimate form of money. It will always be valuable. We've been blessed to be the reserve currency as it allows the US to behave with extreme fiscal irresponsibility. Talk to people from Turkey, Venezuela, Eastern Europe, Germany, Lebanon, Vietnam or anywhere that have experienced currency or societal crises and they'll tell you that gold is the safe haven. Of course Dave can treasure his green paper notes that can be printed without a limit but they are getting creamed by inflation. If you believe the US is governed well and manages its finances well then you don't need gold.
Imagine actually believing money exists, or there is such thing as a mythical "reserve currency". Gullible much?
The only value gold has is that projected on it by human stupidity
Hello from the future...about creditors selling treasuries...China is doing just that
@@darylkitchen422 Absolutely. It was always going to happen, simply a matter of when.
I still think it’s not a bad thing to have as a small piece of a diversified portfolio. An emergency fund of 3 months expenses in cash and another 3 in gold isn’t bad imo.
What are you going to do the with Gold? No one is going to take a gold coin in an emergency. Bottles of water/jeans/booze/2x4's/MRE's/generators/gasoline.
@@danmacgowan8242Maybe gold miner stocks for diversification purposes. But definitely not physical gold. Cost the holder to store and secure it.
It's a fun little hobby to collect gold but the idea of it being used as actual currency is silly.
@@danmacgowan8242 1) keeps up with inflation better than cash. 2) it’s slightly illiquid so it’s harder to spend recklessly, and 3) if there is an economic situation like a bank run or high inflation, it’s nice to know I have physical assets. 4) it’s very easy to take a lot of value with me if I needed to.
The vast amount of your portfolio should be invested in the market and yes it’s good to have all of those things too, but I don’t see the issue owning a few gold coins or some silver bars
@@danmacgowan8242 BINGO!
"gold does not pay dividends". Neither does real estate. *Until you rent it out to someone*.
Good points but anything you own on paper can be taken from you, your accounts frozen for violating a new nonsense policy which is happening all too often. Try selling gold, it is one of the most liquid assets and you really do not need permission to sell. Stock trading was recently halted in the UK on a whim by an agency. Assets that are not subject to a third party are always preferable.
Gold can also be taken from you.
@@amireallythatgrumpy6508 not as easy as freezing a digital asset. you also cant hide your stock portfolio or give it away.
I am glad the plebeians don't understand the Golden Rule. Those with the Gold make the the rules.
There are no rules
Dave just loves and adores the American Financial structure.
It is what made him a Millionaire you see.
And he despises Gold.
He is owned by Churchill Mortgage.
Everything has it's pros and cons.
stocks are tied to a fiat currency. You can have a billion of a stock worth 500 buckaroos a share, but that doesn't mean squat if the buckaroo is worthless.
Gold doesn't do diddly until you sell it (if you can even find someone to buy it at fair price) and stocks can becomes worthless due to hyper inflation.
Be mindful of what form to store your wealth and the implications of using each method. Make the decision you can live with.
Keep accumulating the toilet paper known as USD. It's becoming increasingly worth less, literally, every second. Gold still buys what it has always bought.
Which is nothing. Money is fake by definition.
Dave is wrong here. He’s going back to the 70’s to fit his argument. In the last 25 years gold has outperformed the markets. And gold and silver do keep up with inflation, the dollar doesn’t.
A silver quarter bought a candy bar in the 50’s and 60’s. That same silver quarter, worth about $3 in silver weight, still buys that candy bar today.
Seeing how the price of gold, silver including the stock market is totally manipulated, how does one really know what to do?
Don't bet on the thing that does the worst assuming all of the manipulation.
I agree but Dave doesn't even mention how fake and manipulated everything is, he acts like this QE bloated market is going to continue.@@donhill1825
I love how the analysis cherry picks to the Top of the gold price in 1980, as if everyone bought the peak. What about the investment return buying gold at $35 an ounce and its now $1900. Gold is insurance / cash and part of a diversified portfolio including stocks.
aww a gold bug.. how cute.
@@ChrisMFlorida Aww someone who can't objectivity do math or analysis. Judging by Ramsey's comments here gold is better than the Nasdaq. If you bought the peak at 5000 Nasdaq in the year 2000 it's only at 13,000 now. Worse return than gold.. Just saying anyone can cherry pick a story to make it fit their narrative,.
@@FreedomFighter485that’s why it’s more important to look at ALL 10 or 15 year periods in US history and compare gold returns versus NASDAQ returns
Gold is used by wackos and paranoid people who say that you should sell everything and just own gold for the times when the "evil government" comes after your money. It is a ridiculous argument
Churchill Mortgage probably picked those dates for Dave.
GOLD is better in some countries and certain time periods..... Argentina, Weimar Germany...
Sriracha owner snuck gold out of Vietnam to help fund his business. Loads of examples.
Tell this to all those RUclipsrs that talk about “Noble Gold” yet claim to not be the “Experts” on it yet still promote it anyway
Ammunition is a better investment than gold.
Two HORRIBLE investments.
@@amireallythatgrumpy6508 5.56mm, NATO SS109
is 3X in 5 years.
1000x correct. 1 round will be worth more than 10lbs of gold
And chickens
@@David_Bang_
Remember the scene at the end of "Centennial", the Indian pulls a Gold musket
ball out of this pouch and tells the Trapper
"It works real good"
Has anyone ever thought about dollar cost averaging gold, silver, platinum and palladium?
Yes. Of course these don’t appreciate with any significant percentage.
It’s much better than a bank account, however.
Also….
If it’s in a metal, you are far less likely to use it for impulse spending.
Are metals good for end of the world scenarios? Absolutely not.
It isn’t dumb or stupid to buy them.
It just depends upon your use case.
imagine... a post apocalyptic world in which you try and buy a cheeseburger with a bar of gold lmao
Or paper money...
Or stocks...
Or real estate without protection...
I love when people say “but gold has utility!” Oh really, how do you plan to utilize it?
@@TonyCox1351yeah that is my problem with it. If you can still trade gold you can probably still trade stocks too. If you can't buy/sell stocks most likely no one cares about your gold either
Relaxe Dollars aint that BAD, i keep holding them, i also own Gold, but not a Big amounts, Copper & Nickel on the other hand 👀
You would be surprised to learn that in war torn countries, golden and silver jewelry and even other stuff made of gold and silver were indeed used to buy what is needed. Some smugglers accept gold as payment as well (even in human smuggling). South Korea used donated gold from citizens to pay off their international debt. Fiat money has lost its value in many foreign countries like Argentina, Zimbabwe, and Venezuela.
100 years ago 1oz of silver would buy you a meal for one person and 1oz of gold would buy one person a nice suit/dress. Silver is around $20 an oz, that's a meal. $1900 an oz for gold, still a nice suit/dress. Gold doesn't keep up with inflation but it does maintain purchase power mostly due to advancements in technology.
And the gold and silver markets are manipulated down
Nobody credible measures anyone in oz. Use grams like a normal human
@@amireallythatgrumpy6508why? oz is like fluid ounces and know that gold is pure. Kilos is how much is weighs and is probably just gold plated
That's false. Both are measurements of weight (actually, mass). By definition, 1 ounce is equal to 28.35 grams. @@lolwtnick4362
@@amireallythatgrumpy6508 Troy ounces are the world standard units for precious metal bullion. All the major world mints produce bullion in this weight except the Chinese who use a lesser 30g standard. You can buy it by the gram, or multiples thereof. But, spot price is based on the Troy oz worldwide.
Can you do the gold value in the Turkish dollar next please?
We'll just sweep that one under the rug for ya there you go buddy
What bothers me about investing in gold is how the advertisers are preying on the fears of people. That is sad. Also, for you to win big with gold it will be because everyone else loses. AND btw, if the economy does collapse, who is going to buy those gold bars? Just my thoughts.
Many commercials currently pushing gold hard on retired people.
The fear of inflation continuing is very real. Many people already realise how badly this will end.
Ummm... the people who grow food will take your gold/silver. Good luck showing them your 401k or worthless monopoly paper.
When economy collapses, what medium of exchange people will use? Will there be wealthy people in such times? Will they own assets? Will they want to trade assets or build enterprises?
Loved listening to that analysis. Well done
Thanks Dave, this has stuff I've heard and has always increased my anxiety.
I am an advisor and agree 100%. However, most gold enthusiasts want it for the end of the world and stock market because they feel they can cut off a sliver and live and when everything comes back. Gold will be what monetary policy is based on, so they will be good lol
We early Americans created the dollar with God’s material of course but God created gold and in the early chapters of Genesis he called it good. The dollar will not exist in eternity but gold is clearly there. An insurmountable amount of currencies have been created as empires rise and fall try using most of them today and see what it gets you. I don’t think gold will get you rich today unless you uncover it at the bottom of the sea or find Solomons hidden mines but to write off Gods gold seems foolish to me.
Gold in the temple has value cause it was worked upon by craftsmen in a labor of worship and skill. If you were to extract it from the temple you forfeited your life before God and men.
But render onto Caesar what is Caesar’s. The gold of a coin did not matter to Jesus, but what the image that was pressed on it represented. It was Rome’s gold. The very hand that would pierce his side was represented with a gold coin.
I have to side with Dave and George on this one. Should the dollar truly fail, you want beans, bullet, and acreage. Gold won’t be useful until it’s melted and rendered to either God or men.
The only metal you need in a world wide crisis is brass (bullets) not gold
In a world wide crisis you would not WANT to survive.
Sh00ting the farmer who produces your food isn’t going to get you very far. You would be better off buying the food from the farmer with good money.
LMAO this one believes money actually exists. He must also belive in the tooth fairy. @@RusskiCommieBot
Gold is not an investment. It’s just a hedge.
YELLOW GOLD!!! @O@
My father purchased gold for $10K in the early 70s. I just cashed in at over $600K.
Now imagine if he put it in good investments
10k invested in S&P 500 in 1972 would be worth 1.6 million today.
@@timbrooks8690you are right. It would probably be closer to 10 million
Could have been much more. Super conservative growth compared to the market.
Thats a terrible Return on investment........
Gold is preferable to fiat money in a mattress... That might well be the only financial instrument that it outperforms in the long-term. It's also shiny and looks nice, so I guess there's that.
Gold and fiat money will both be useless
Seems more like debt,paycheck to paycheck,big,FOMO,YOLO,too big of home you can’t truly afford,living beyondcmeans,student loans,etc. is preferable from what I have been observing even for the ones with the little gold they have.
Makes no sense.
To benefit for any outperformance long term from any investment you have to focus on personal financial issues first.
My father bought gold at $35/ounce. I am now cashing it in at close to $2K/ounce.
Nothing worth buying is measured in grams. In the 21st century everything is measured in grams or kg.
Since this video, the S and P 500 went up almost 25 percent. There's a boom.
What Dave does NOT say is that the dollars you buy stock or funds with has lost nearly ALL it's appreciable value and gold never looses value because it's value is intrinsic. In 1913 (when the Fed became) your dollar was incredibly valuable. Now, that same dollar can buy about 2 pennies worth of that same valuable dollar.
In 1927 The Spirit of St. Louis (the plane that first flew over the Atlantic ocean) cost about $15k. That's well over 250k pre-covid money.
Since Covid, the money supply has increased by about 90%. So about 90% of all the dollars EVER printed was printed in the last three years.
If you don't want your gold, I'll gladly take it off your hands. What is just as good or better than gold is landed capital (which Dave has lots of---And I bet he has lots of metal too).
Yet another idiot that does not know the difference between "lose" and "loose". Stay in school, kids.
Gold never loses value because it has never had any
Great content of course. Have you ever discussed US Series I bonds, which are a no lose investment?
I came to the same conclusion that gold will not protect you from inflation.
IMHO you can protect yourself from inflation with the following
1. SS is adjusted by inflation each year.
Taking it at 70 means the annual inflation adjustment will be larger and will compound each year.
2. Stock Market
Businesses are focused on making a profit and they can do this during low or high inflation.
3. Real Estate
Owning your home will protect you from higher housing costs and it will increase in value.
This will give you the ability to downside and pocked some of the profit.
Don't forget Savings Bonds, CDs, and the best of all, bank Christmas Club accounts
You watch too much CNN and have too much faith in government.
I do enjoy watching “Gold Rush” though and imagine myself just digging up money from the ground lol
Gold really does suck.
Tell the Argentines, the Lebanese, or even the Japanese that gold is an illusory investment. It’s insurance against central bank distress and money printing and always has been.
LMAO there is no such thing as insurance against those things. That's inherently impossible
@@amireallythatgrumpy6508 You have no idea what you’re talking about. Look at the charts of gold priced in the currencies of the countries I mentioned above. By no means should gold be a huge part of a portfolio, but it is an important diversifier and hedge.
Oh I know EXACTLY what I'm talking about. The idea of a "hedge" is a great theory but an impossibility in the real world. @@breecedjpancake8565
@@breecedjpancake8565priced in what? oh yeah fiat.
@@lolwtnick4362 what else would be priced in? Gold isn’t a standalone currency and isn’t priced independently of fiat. Gold’s value is everywhere it’s intrinsic value vis a vis fiat. Your logic is circular and self-defeating.
This won’t age well. Gold just hit an all time high yesterday
If it's at an all time high and it's still worthless that does not bode well for gold
Cherry picking dates from 1971 against gold does offer a decent argument. However from 2003 which is more up to date ,gold out performed stocks. Gold should be in every portfolio but in a small percentage. Most gold investors also own stocks, why does the discussion always have to be one or the other. All your money in stocks is high exposure . Why cant these guys talk about balance?
Haha I love the rants but I made 10% on my gold in 1 year including buying and selling it. I made over 600% on my crypto in 4 years including buying it and selling it all… so 😅😅😅
I don't get it why central banks all around the world buy gold then...
400 loaves of bread always. 1 Oz. of gold has always bought 400 loaves of bread.