Putting a small percentage of your net worth in precious metals is not a bad idea, but if you have debt, that should be taken care of first.

So then why do banks protect their own money using precious metals?...

Dave 'inflation is a conspiracy theory' Ramsey

Buy and hold medals if you’re debt free. I hold metals as a savings account instead of cash it has worked out great for me 💯

I’m sure it’s not a conspiracy theory to all those Canadians who had their bank accounts frozen because of the trucker convoy.

Look up “bail in” laws. Dave is wrong once again. “Conspiracy theorist” he says 🤮👎

And if the value of the US dollar falls….?

What happens if America losses its standing as the worlds reserve currency.... I dont think this is gonna age well

It already happened in Canada and Australia

Precious metals is the place to be to protect and preserve your wealth in these ridiculous times.

If you wanna store cash for years at a time, precious metals is better than holding cash.

This will age well lol. Coming back to comment again in 2030.

That's one thing I don't agree with Dave Ramsey. Some precious metals is a good idea. Dave wake up

I flipped a condo in 2006, making exactly $50K. It then went into precious metals, which sold for $130K in 2011. Since the S&P broke even during that same time frame, sometimes it makes sense to be a whackadoodle during a financial crisis.

I have plenty of customers that have had their checking accounts hacked . Its actually pretty common

Canada has entered the chat...

I agree that putting all your savings in precious metals is not smart, but a healthy portfolio should contain 5-10% in precious metals.

For the caller to say he's watched the show for a month, but then to call with these questions makes me think otherwise.

"I listen to you all the time." * proceeds to demonstrate no comprehension of any of Dave's basic advice/baby steps *

"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power." - Alan Greenspan

This will not age well

you asked the wrong guy for advice on this topic caller.

Precious metals are a great investment! Dave Ramsey gave good advice for this person because, before investing one should Not be in debt. But he's very wrong on this conspiracy theory...very wrong!

I have a feeling this will age well 🤡

Unfortunately Dave has not been paying attention 😒

Inflation is the thief his friend is referring to.

And all the experts on precious metals have entered the comments.

I love that line cut offf button on desk, solves all calls.

What happened in Canada? Didn't they close people's bank accounts?

Bank bail-ins, get ready to get your checking accounts drained by failing banks in America, and don't expect the fruads at FDIC to insure your deposits

Disagree, metal is not a bad investment

Well, does a metaphor of stealing work in the context of a central bank hyperinflating the currency?

he makes 120k+ in tampa. he should already be out of debt.

The dollar is a joke. The best investment is black mail agaisnt a politician.

Dave I agree about getting out of debt. But hind site being 20 20 tells me precious metals are a safe harbor because they don't disappear like stocks, bonds, etc...

What is wrong with buying Precious Metals as a hobby? I mean people collect cars, baseball cards, comic books. What's wrong with collecting Precious Metals. We can't because Dave said so?

Greece?

Precious metals help make me feel like I’m winning when I ain’t.

Gold has returned 7.78% since 1971 when the US went off the gold standard, beating out everything except for US equities which have returned around 10% over a 30 year average. If you're in it for the long haul gold can be a good investment.

yes, but it's too much now. wait for prices to come down

Id you lived in Russia a few weeks ago, your buddy would have given you great advice. Pay attention to Canada and Russia. Your bank account can just be turned off as soon as you're out of favor.

Nobody: Dave: thats dumber than a rock

So glad I did NOT listen to Ramsey and purchased precious metals from 2014-2018 which are now worth nearly double what I paid. (see my channel for inspiration)

Everyone should have at least 10% of their net worth in physical previous metals that they hold and one month of cash in a safe.

Just because its a "theory" doesn't mean its not valid.

What about bank bail ins?

I no longer watch Tv after finding you sir !

Imagine someone believed Dave that banked at svb bank🤣😅🤣😅😅

Lead is good protection

did Ramsey just challenge to steal his checking account take 50k out of his banking account?

There are those, who are investing in lead, copper and gun cotton too! Those when combined in the right way can be quite profitable!

Can we all appreciate that he uploads consistently? 💕

Bank of America is approved for doing bail-ins

I just paused to say, he ain't gonna like Dave's answer. "Unpause"

Even crocodile Dundee can't get the wife on board. Dundee you missed the move on commodities.

With inflation Dave. The price of silver is inevitably going north. If you want to keep your buying power then having 50k in physical silver or gold is a solid investment and hedge against hyper inflation. If minimum wage goes up to 20 dollars an hour than the price of silver will adjust. Meaning your 50k would adjust. I think silver is one of the best stores of value and tool during inflation periods like right now. Buy 2000 oz at 50,000and when our dollar has lost more of its value you’ll find you’ll have 85k -100k and you’ll be happy that your money was not in the depreciating dollar but in the appreciating asset that’s so old it’s talked about in the Bible. You shouldn’t have all of your money in silver and gold but I’ll say it’s smarter 10 fold over a savings account.

Even if precious metals are really a hedge against inflation and a store of value you should not use it as an investment. I would argue that people shouldn't really be concerned with preserving their wealth. People should only be concerned about growing their wealth with assets that produce.

This guy is a Brit! 🇬🇧👍🏻 I’m also a Brit living in Florida too! And a big fan off Dave Ramsey!

Precious metals is a good thing to have just to hedge against inflation. But no more then 10 percent of your net worth.

You need to have physical foam of the medals not a certificate!

For security, i would go all into tesla / amazon myself

r/AgedLikeMilk 🤣🤣🤣

Yes

Who's here from WSS?

Freddie Freeman to LA!!! Go Dodgers!

Plastic better, gas cans with stable.

CONSPIRACY FACTS

Never seen dave so ready to push the mute button! What’s your household income $120… MUTE

Dave is way off on this one.

I hope Dave Ramsey is wrong

Dave’s answered this before. He’s also not perfect. If your home is paid off, you have a fully funded food bank, and your 401k is set, then start dumping into precious metals that you can hold.

Dave was extreme rude.

Protect it? Protect it from what? LOL

Yeah. Go get real money. Go get gods money and leave this fake fiat dollar

I'm already debt free, but not wealthy, Dave gives such bad advice on this topic

So this guy is comfortable with you putting your money in stocks or real estate which can crash just like anything else? But he has an issue with precious metals that have always had value since the beginning of time, banks back up their money with it, and the price goes up and down just like stocks? What a 🤡

Take a guess where this guy is from. I guess England.

Go ahead and lose your money if you want.

I think that Dave is a little bit too full of himself and is unwilling to make any adjustments to his views and some people who look up to him may suffer for it when the next crash and reset occurs.

Look up Andrew Wommack's A Better Way To Pray 😇

When Dave says something is a conspiracy theory, he has a point.

This guy has his head so far up his butt that I think he may need to think about coming up for air. The fiat dollar is crashing metals will sour and his the one thing that can guarantee your financial safety in a time of real crisis is precious metals. And Dave you might want to prepare yourself for losing your money in the stock market. This is only my opinion.

Avoid debt. Cut cost. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. I have purchased growth stocks this past few weeks. I'm going to sit back and observe how this plays out, adding more at a time. My investment strategy with my F,A Rita Wildrin Mora gives me the best returns even during recessions. Its been a year of steady growth.

This isn't 1834. Any FDIC insured bank in America is about the safest place on Earth to put your money.

Put it in Cryptos not metals