TOP COMMENTS FROM VIDEO BELOW
Dave Ramsey gives advice on what the “system” wants you to do, not what you really should do. Gold is real money, not fake currency. Everyone should own some precious metals as insurance.
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.
