Investing In Gold And Silver

This guy doesn't know anything about history...

Gold and Silver is better to use as a form of SAVINGS (not investment unless it's numismatic coins) and to protect your purchasing power due to the currency constantly being devalued. Since 1971 (last year of the gold standard), Gold has out-performed our currency and the stock market when you factor in inflation. More currency (dollars) continues to be printed because we are using a debt-based monetary system. So the more dollars in circulation, the less value they have over time as the value becomes diluted when there are too many dollars coupled with the currency velocity (spending activity in the economy). If anyone would have saved in gold since 1971 (or since 1913, beginning of the FED), they would have more wealth today than if they had saved the same original amount in dollars. We would not have to worry about our currency become devalued like today if we operated on a gold standard. To make the gold standard work, we would need to adjust the value of dollar relative to gold in order to account for all the currency in circulation by the FED. Gold is the reason people were confident in currency in the past. Keynesian economics will not work as long as our monetary system is based on debt. People lose confidence in the dollar when the government become desperate and goes broke, as the US is heading today. Each dollar represents a claim check on an IOU as opposed to a claim check on gold. The intrinsic value of the dollar is ZERO and continues to head closer to zero with each passing day. Gold, on the other hand, hedges against the devaluation of a currency, which is precisely why it is important to maintain at least 5-10% of your portfolio in gold and silver, too. Silver is more undervalued compared to gold, so it is good to have a mix of both, especially now. Every government that has used paper currency since the 11th century (the first time when China experimented with paper currency), the value of the currency has ALWAYS returned to its intrinsic value, which is ZERO. With all due respect to Dave Ramsey, he could not be more wrong about Gold/silver. I sleep better at night knowing that I have protected my wealth with something of real value that I can hold in my hand and that cannot be seized by banks. The only thing banks can do is manipulate the price through the COMEX, which is a scheme that has been ongoing for a long time. Once banks are no longer able to maintain that scheme due to lack of physical metal as they sell it off and investors demand it, then expect gold/silver to sky rocket to their true value based on the amount of excessive currency in circulation.

So based on his logic, if I have USD, and suddenly it is worth zero, how do I exchange it for the new paper currency?

Dave Ramsey usually has good advice except when it comes to the idea of investing in gold and silver. Gold and silver have been used as MONEY up until the last 50 years. Look at silver dollars, 20 dollar gold pieces, silver dimes, quarters, and nickels. When we moved off the gold standard we started this trend of bubbles that cycle over the years of extreme highs and extreme lows. This is not sustainable. Before we moved off the gold standard the United States had virtually no debt, good jobs, and people bought what they could afford. After that things have just fallen apart. Dave Ramsey is just turning people off metals because that's what the people in charge want him to say

Thumbs down 👎 Dave does not understand gold. Gold has been money for 5,000 years. Go to any country in the world and it has value

my question is gold is not a good investment then why do central banks horde it? gold does not have built in inflation so if gold can not be created wouldn't scarcity determine the value?

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Gold and silver can be used as a good savings vehicle though since it's hard to spend.

In both Zimbabwe and Venezuela people have resorted to digging up gold to buy groceries.

Gold is insurance in a world of fiat currency, everyone should have it

Inflation & dilution of our currency over the decades & there's no wonder why "paper investments" appear to be worth so much more. Gee, maybe that's why Coke ain't a nickel anymore.

The "Roman Empire was the last time" Really? Gold and silver has been used as a medium of exchange through every empire and country right up to the present time. Banks trade it with each other , Countries hold it and trade it with each other and The Wealthy elitists trade in gold with each other. Its only the Helots who are forced to use fiat currency because its a control mechanism . Rental property ? Only if it is formed into a legal corporation and you have time to wait for it to appreciate . Most Mom and Pop investment properties are a mistake , after paying taxes ,the mortgage, insurance, maintenance , rental fees and repairs there is little left. On top of that the risk of litigation and the stress it causes makes it a less then stellar investment. Stocks and mutual funds should be limited to DRIPs and Index funds. Index funds are low cost market products that are simple to understand. DRIPS are a long term investment which is almost a set it and forget it no brainer. Gold and Silver are a insurance policy against the unthinkable and it gives the same feeling one gets from owning a generator or having a well stock pantry there's nothing wrong with that But if you want to make real money sell investment advice in books or CD's. That's where the real money is.

This guy is an idiot. i swear to god

it's hard to believe that someone who's supposed to know about finances doesn't know the difference between currency and money.

you going to make people lose a lot of money. sad, very sad!!!

Buying precious metals is not about making money, it's about keeping money.

I think this guy is an idiot ... I can understand what he's saying but he's saying just a semi-truth. When crash occurs, gold/silver prices are exploding, if the economy collapses and dollar starts to worth nothing, we have to create new paper money. If the paper money are getting to the circulation again and economy starts to stabilise you can exchange your gold/silver to those paper money getting a lot of them, while later on the prices of gold/silver will start to become lower. Don't you know that during German hyperinflation for 1 gold coin you could have bought 1 big house? Show me the paper money from 500 years ago, and show me 1 gold coin from 500 years ago. Note is worth nothing, gold coin can be replace based on the gold amount on current paper money. I'm completely opposite to a sentence "buy gold and keep it for long time" - No that's not true. It should have been "Buy gold when you are expecting the crisis, sell it and get the currency as soon as crisis ends and invest in cheap stocks"

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Investing In Gold And Silver - Need Advice

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