Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

Gold does not gain value. Fiat currencies lose value against gold.

Your father made a statement many years ago: " If the American people understood the federal reserve system, there would be a riot by morning".....

......don't wait to buy Gold, buy Gold then wait.

This is why Rates will not come down... The US needs to incentivize people buying its debt.

Can you do math? 3 years of Joe Median household income - 3% Retail Gas +39% Ground Beef, +37% Automobiles +34 % White pan bread +33% Sliced bacon +19% Milk + 18% Deodorant + 38% cooking Oil +36% Eggs + 41% Bleach + 43% RAMEN + 43% Dog Food + 36% Snack food and chips +27% Auto repair and Tires +26% Median household income - 3% Shrinkflation

ok so couple of things that he did not mention, maybe for simplicity's sake or maybe because he doesn't want to admit the 2000 pound gorilla in the room. 1. After the Volker Shock of the 70s when us unpegged its dollar from Gold, there have been hundreds of derivates instruments that are based on Gold that were created (its just a derivate but no actual gold transfer takes place). US kept humming like an engine thinking that it could just withstand this nonsense until it printed so much US dollar that no one wants it as a reserve currency anymore (not when they are just printing COVID checks and sending them to everyone in America, just racking up inflation and devaluing the dollar). 2. Now, countries don't want the dollar as the reserve currency anymore. They (China, Russia, India etc.) are dumping USD quietly and replacing it with physical gold (not derivates like the us will like). No one expects US to be able to pay its debts when they are adding trillions of dollars in debt every quarter. 3. When the push comes to shove (and believe me it will), they will come with a fire sale of US bonds and treasuries that are worthless (zero percent return bonds form a few years ago). The fire sale might come around September when the BRICS chairmanship comes to Russia. 4. Understand that this is nothing personal. These countries are looking out for a better hedging mechanism because fluctuations in dollar due to domestic us interest rates make the USD more/ less expensive and they have to suddenly grapple with balance of payment crises.

Some Advice, lots of people are going to become broke and some are going to become rich!!! Gold, Silver, Copper, and precious metals also commodities are on their way up and Non Commodities Stocks are about to get wiped out.!!!

I could scarcely believe it when I heard that the second highest expenditure of the federal government of the U.S. is interest payment on the debt! How can the people allow the government to incur so much debt? Its strangling the U.S.

I read that Nvidia provides tech for crypto mining services/blockchain transactions. Could the current crypto pump be attributed to Nvidia’s great earnings and should I hold some crypto as well, cos tbh I’m having FOMO with the current crypto price at 60k.

Gold never goes up or down. That is pure nonsense. It is the US$ & other fiat currencies going the opposite directions of gold.

Why would it sound alarms? We're well past the point of f--k-d.

I never viewed metals as an investment, but I always saw it as a great way to save your cash & retain the value from when you bought it. It’s not hard to turn it to liquid cash, and it beats letting inflation destroy your savings.

Central banks have been buying a lot of gold in the last 5 years.. The future purchasing power of most currencies is becoming highly questionable.

The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

He failed to mention that other communities that are sensitive to economic growth such as copper have failed to to rise along with gold. Gold isn't rising because of the inflation bogeyman instead it's rising due to economic uncertainty.

They could only manipulate the price of gold for so long. Now you’re going to see what the dollar is worth.

Regardless of what you think about gold and I have been bullish on it ever since George W. Bush was president.The economic issues we have been experiencing for a while were inevitable when you flood an economic system with liquidity by monetizing the debit and keeping interest rate at almost zero for about 15 years !

You're right Steve, the world can't go back on a gold standard again because then politicians would be required to be truthful to their people.

When ever I seen prices going up I realized the value of the dollars going down.

With all the inflation going on right now, shouldn't gold be at least double, so around $5k? Everything else has doubled.

This is amazing. *“How to build wealth”*

There’s a reason Steve Forbes is on top. What an amazing dude

PHYSICAL SILVER IS THE MOST UNDERRATED COMMODITY ON EARTH ! Still very affordable under $30.00 an ounce spot price !!!

They don’t want to fix the problem.. how do y’all not get that by now?

Fiat currencies are derivatives of gold. Gold prices do not fluctuate as he is saying, quite the opposite. Fiat currencies losing buying power means it takes more fiat to purchase gold, hence the rising price of gold.

At least the US didn’t sell its gold. 🤔 Or did it? Some people got to look in one of the vaults at Ft Knox about 50 years ago…..weeeeeeee FJB

US is printing dollars endlessly... National debt will pass 35 Trillion soon.. Buying gold is a real win for public... Inflation will eat you alive unless you have some real wealth like gold...

something wrong when Forbes himself read the script

Thank you Steve.

Spot on!

Fantastic video - particularly the commentary on supply side inflation vs monetary inflation.

Not an economist here, but I’m willing to bet that *if* a radical reform to deficit spending was actually passed and reflected in a current budget, this inflation would ease radically in a matter of a couple of years-time for the world to see and believe. What we are experiencing is a lack of confidence in the American dollar and our government to protect the value of our currency. We’ve kicked the can down the road so long and often, that the old masking tricks do not work and the world is no longer willing to float our excessive living style, which is a life of unearned affluence at others expense.

Exactly

Another nonsense is the growth rate of the USA economy. You need to deduct the growth due to debt from it. Last year the GDP grew 2.5% but the Federal Government debt as a % of GDP grew 11%. Thus the real growth was a negative 8.5%. It is called creative finance & fiddling with the numbers. The USA, Canada, EU, & Japan have a negative growth rate for decades that is why the debt grows faster the GDP to compensate for the loss of the growth & fool the people.

EXACTLY

Spot on, Mr Forbes

You were always correct,and your advice has been sound. The US needed you as President. Your opinions should be heeded.

100% correct. Governments need to stop excessive borrowing from central banks. Infinite debt is not possible. Governments need to be restricted by legislation as to how much they can borrow. The only exception is for "State of Emergencies".

Wait, didn't we get away from the gold standard in 1933? We weren't on the gold standard in the 1970s.

Central banks around the world have been buying gold. Certainly has an impact on the price of gold.

So if the currency collapses, what stops the government from confiscating all gold and making it illegal to hold?

As of May 16, 2024, the price of gold is $2,385 per ounce, which is down 0.29% from the previous day.

Can you please discuss Mike Johnson’s push to reauthorize FISA.

Great commentary I’m glad to hear someone with sense talk about debt spending and gold and inflation and how it all correlates

There may be alarm bells at the Fed, unfortunately there is no one there that knows what the bell means. Salivate on lap dogs, Salivate on... Steve is great!

Not enough people get it!

It's all about purchasing power. How many ounces of gold would it take to buy a median priced home or an acre of farmland in your area? As metals go up it would require less and less, thus beating inflation. Silver bullion is the best option.

Awareness buys you time, time buys you options - until it doesn’t. Stay awake, aware, and prepared.

The Fed knows what's going on. The alarm bells have been ringing for a while. Sadly, they are in a pickle, and in an election year. If they raise rates, it can slow down inflation at the cost of risking banks going under, job loss, etc... If they lower the rates, it can heat inflation back up. They don't know what to do at this point, which I'm guessing they will just accept the high inflation and leave rates where they are at.. I'm guessing they will raise rates after the election no matter which candidate wins. Just my guess. Be ready for an everything crash... And that's not even factoring in war and BRICS impact on what could happen.

I suggest you offset your precious metals and get into digital stocks and other digital assets, Downturns as bad it can be, provides good buying opportunities in the markets and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

Excellent

Steve, you are looking a little older but I still love to hear from you. My first thought after listening to you this morning was , “Imagine what this country could have become if the voters had voted for you back in the day”. Our country rejected your message of fiscal responsibility. Now, I believe it’s too late. We are headed toward a place no one could have thought was possible 25 years ago, collapse. Ross Perot was right and you were right. Great day

Cheers

Amazing information 😊

Get curency out of the Banks Buy gold and silver

Jai Hinduja. Fiat currencies are backed by thin air rather than gold.

Au is up 5.1% on the week as of this second. Your local bank gives how much return exactly......

And imagine how high gold would be, and the alarm bells, if bitcoin wasn’t viewed as an alternative

Stop buying gold in fears, some fears fiction we believe in Australia

I've had a "paper" position in gold for years. But now for the first time I'm considering physical gold as well. Even though the U.S. dollar occupies a special niche in the world financial system, someday it will go the way of Pound Stirling or the Dutch Guilder. We just don't know when that will happen. And it will be an unexpected surprise when it does.

Thank you Mr Forbes

Just reached 500 thousand. Thank you for all the knowledge and nuggets you've thrown my way over the past months. Started with 50k last month 2024

WHAT THAT TELLS ME IS THAT EITHER: DOLLAR'S VALUE IS GETTING OUT OF HAND DUE TO SUPER PRINTING/SPENDING, OR AND THAT RULING CLASS AMASSED ENOUGH GOLD AND NOW THEY ARE READY TO LET IT LOOSE, I.E. NO MORE ARTIFICIAL FIXING OF THE PRICE..... EITHER WAY, GOLD BREAKING THE 2,000 BARRIER IS BAD FOR U.S. AND GOOD FOR GOLD, WHICH BY NOW SHOULD BE IN THE RANGE OF ABOVE 5000 EASILY!

Gold going up because of the overhyped Dollar soon bite the dust ..as the world moves away from Dollar ...so countries are buying gold rather Dollar

I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?

Ohh im sure it is. I suspect they cant stop it now. The etf go around of paper instead of fold is gonna not end well

I’ve been hearing this “alarm” ringing for 10 years. Where’s the fire?

Let them keep printing dollars , perhaps in rolls so they can be handy in the next epidemic lockdown 😅

Good work buddy 👍

Re evaluate 1oz gold to $200,000. ea

#Gold & #Silver to the 🌕 baby we out 🚀. Getchu something thats 100% private and a store of wealth at the same time.

The collapse is intentional. I repeat: it is intentional. It is intentional. It is deliberate.

The can has kicked down the road since before 2008, at some point the can won't be able to be kicked. 💯

This is crazy talk. Next he’ll be suggesting that men in dresses aren’t real women.

How many people understand the actual difference between Currency & Money 😉... When you get it then the penny drops 😮

I agree with some of this but also understand the value of gold has been naturally pegged to the economy via demand and practical use. In the long run it would be wise to assume this will continue but it’s unfair to dismiss lack of interest due to changing scientific landscape. Like a car that is 10 years old it is in between a state of being not quite obsolete but not yet “vintage”. If gold is a “standard” it is also a barometer, don’t kill the messenger.

In the 1950’s a coffee and steak was 50 cents. A big new house was $18,000. Gold was $20 an ounce.

Time to go gold mining love that gold and the mountains$$$$$$

You’re great

Right

Gold at an all time high yet major Gold stocks way off their all time highs. They should be mirroring the huge rally in gold but they're not!

Leave GOLD for now and get your money into stocks!!!

Gold Should Be Sounding Alarm Bells At The Federal Reserve, yes sir! Nobody trust they paper printing machine anymore

First oz. is the hardest.

This economic model failed in 2008. Debt is fundamentally unviable as a fuel for speculative expansion projects or to bailout business that should have been allowed to fail. 2008 should have forced a move away from debt accumulation and a general reset in economic thinking but hey, who wants to cut back when you can simply promise to pay later.

i have no idea why an expert would buy gold... platinum is infinatly more rare and half the price per oz

GOLD used to be 35 bucks an ounce. But reverse your thinking for a minute. Instead, think of it as 35 dollars used to buy an ounce of gold. Bottom line, gold is still gold. Your dollar on the other hand is now a penny. LOL

Clue: there isn't enough gold on Earth to back modern currencies.

Frankly, I don't think that it is even possible to come back to the gold standard. If I am not wrong, Humanity has extracted around 175,000 tons of gold since prehistory and a ton costs around 75,000,000 $, which means that there should be only at most around 13,125,000,000,000 $ in gold in gold today, that is to say 13 trillions, which is way too insufficient to restablish the gold standard, and that is just for the US economy. More generally, it doesn't sound very wise to base an entire monetary policy based just on one single commodity.

People weaking up and seeing that Gold is real money

It's a very timely reminder. There is no dollar value of gold; instead, there is a gold vs. Dollar exchange rate 😉.

i love Goooold!!!

with higher wages and the cost of everything i wonder how this has effected the miners.i rememebr years ago it cost 1000 to mine and ounce of gold and gold was at 1200 bucks

US 8000 metric ton Gold Reserves equivalent to 800 billion Dollars, the same amount owing to China, in short it belongs to China 😂

the guy who rides Amtrak is talking about gold again.

Gold is not pricing in higher inflation! It is pricing in a lower inflation/deflation alongside a recession!

Not at all convincing!

Too late now........

the fed does not care