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Thread: Dave Ramsey's started an anti-precious metals thread...

  1. #1

    Default Dave Ramsey's started an anti-precious metals thread...

    Dave Ramsey's attacking Gold on Facebook... Just thought some of you may want to chime in!

    https://www.facebook.com/daveramsey/photos/a.135002570885.111058.30592180885/10152039574805886/?type=1&theater



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  3. #2

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    I'm not a sadist, but it's going to be really enjoyable listening to these anti-gold tools cry out in pain when the dollar gets devalued overnight by 25-50%.
    Last edited by DFF; 03-20-2014 at 09:20 AM.

  4. #3

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    Some of life's lessons are more expensive than others.

  5. #4

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    Quote Originally Posted by DFF View Post
    I'm not a sadist, but it's going to be really enjoyable listening to these anti-gold tools cry out in pain when the dollar gets devalued overnight by 25-50%.
    That could happen too .

  6. #5

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    Well, Dave's first mistake is terminology. Neither gold nor Bitcoin are investments; they are speculation.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  7. #6

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    Quote Originally Posted by Matt Collins View Post
    Well, Dave's first mistake is terminology. Neither gold nor Bitcoin are investments; they are speculation.
    The Dow is over 16K , gold is about $1330 . I would think , if someone has accrued a lot of wealth they may want to take some steps to preserve some of it , just in case . Not sure I would call it speculation ?

  8. #7

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    He's a friend of yours isn't he Collinz?
    ClydeCoulter on the Liberty Movement:
    Yeah, they'll argue over roads and religion, but there are certain themes that bind, among those are freedom and the search for truth and justice.

    Loyalists gonna loyal.

  9. #8

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    Quote Originally Posted by Matt Collins View Post
    Well, Dave's first mistake is terminology. Neither gold nor Bitcoin are investments; they are speculation.
    With gold, it's more like insurance.

  10. #9

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    Quote Originally Posted by Matt Collins View Post
    Well, Dave's first mistake is terminology. Neither gold nor Bitcoin are investments; they are speculation.
    aren't all investments speculation? when you put something (time, labor, cash) in with expectation of return, you're both investing and speculating.

  11. #10

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    Quote Originally Posted by oyarde View Post
    The Dow is over 16K , gold is about $1330 . I would think , if someone has accrued a lot of wealth they may want to take some steps to preserve some of it , just in case . Not sure I would call it speculation ?
    any time you do not know something, you're speculating, aren't you?

  12. #11

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    When you buy stocks, you get a piece of a company. You hope (speculate) that company will do better in the future. Buy lots of stocks (or a fund of stocks) and you are hoping (betting) that the economy will do better in the future. A stock may offer you a dividend- a guaranteed return (as long as the company keeps their dividend). Buy gold and you get a rock you hope somebody will be willing to pay you even more for in the future. No dividends.

    Nothing is guaranteed on either but stocks have had more up years than gold has. Since gold was free to float against the dollar (beginning in 1972) it has been higher in half of those years and lower in half of those years. Stocks have been up most of those years.
    Last edited by Zippyjuan; 03-20-2014 at 02:41 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  13. #12

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    Quote Originally Posted by Zippyjuan View Post
    When you buy stocks, you get a piece of a company. You hope (speculate) that company will do better in the future. Buy lots of stocks (or a fund of stocks) and you are hoping (betting) that the economy will do better in the future. A stock may offer you a dividend- a guaranteed return (as long as the company keeps their dividend). Buy gold and you get a rock you hope somebody will be willing to pay you even more for in the future. No dividends.

    Nothing is guaranteed on either but stocks have had more up years than gold has. Since gold was free to float against the dollar (beginning in 1972) it has been higher in half of those years and lower in half of those years. Stocks have been up most of those years.
    but stocks didn't exist until 1300s, gold has been currency forever.

  14. #13

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    Gold isn't a currency today. What countries use gold for currency?
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  15. #14

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    Quote Originally Posted by Zippyjuan View Post
    Gold isn't a currency today. What countries use gold for currency?
    gold is a currency regardless of whether people use it, ask any ancap! any country that has ancaps uses gold as currency.

  16. #15

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    Quote Originally Posted by PRB View Post
    gold is a currency regardless of whether people use it, ask any ancap! any country that has ancaps uses gold as currency.
    Umm- no. Currency is what people use for money. If they aren't using it for money, it isn't currency. Ours is mostly electronic- like most of the rest of the world.
    Last edited by Zippyjuan; 03-20-2014 at 03:21 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  17. #16

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    Quote Originally Posted by Zippyjuan View Post
    Umm- no. Currency is what people use for money. If they aren't using it for money, it isn't currency. Ours is mostly electronic- like most of the rest of the world.
    yeah but, that's all going to collapse because paper and non-physical money always does, eventually, so we know it will, even if I never live to see it.

  18. #17

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    How many non- physical money currencies have there been and how many have collapsed?

    How many metal backed currencies have collapsed?
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  19. #18

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    Quote Originally Posted by PRB View Post
    aren't all investments speculation? when you put something (time, labor, cash) in with expectation of return, you're both investing and speculating.
    I call physical PMs a "legacy investment". I don't expect a return of anything except the expectation that it will always have value.

    Quote Originally Posted by Zippyjuan View Post
    Gold isn't a currency today. What countries use gold for currency?
    Misleading question since multinational bankers don't consider themselves to be of any country. They don't mind shuffling gold around as a currency equivalent though.

    RP: Is gold money? Why do banks hold it?
    BB: No, it's tradition.
    Last edited by devil21; 03-20-2014 at 09:53 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  20. #19

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    Quote Originally Posted by PRB View Post
    aren't all investments speculation? when you put something (time, labor, cash) in with expectation of return, you're both investing and speculating.
    Actually , I consider my old GM stock more speculation than a gold coin.One you actually have something that people will honor as value in your hand and the other , you do not .

  21. #20

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    Quote Originally Posted by PRB View Post
    any time you do not know something, you're speculating, aren't you?
    I do not really consider myself much of a speculator with the exception that I do put 3 % of my gross , pre tax into the markets and it is matched . Most of my other earnings are in a job ,land , timber , farmland , few homes..... there really is not much speculation in growing blackberries , blueberries , potatoes , tomatoes , corn , green beans , pumpkins , cucumbers , squash , onions , radishes , turnips , apples , persimmons, paw paw's etc, bacon , eggs , smoking deer , grilling doves , fileting Pumpkinseed , Crappie , Bluegill , Warmouth , security , lead , copper , silver , gold .

  22. #21

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    Quote Originally Posted by oyarde View Post
    Actually , I consider my old GM stock more speculation than a gold coin.One you actually have something that people will honor as value in your hand and the other , you do not .
    My Webvan stock has retained it's value just like a Zimbabwe dollar...
    Twitter: B4Liberty@USAB4L
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  23. #22

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    Metals are a physical representation of your labor, your physical and mental energy expended to acquire it. Paper and numbers in a computer are not and are eroded over time. Metals are not eroded. This is why banks hold it. It's a really simple economic principle. He who owns the gold makes the rules.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  24. #23

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    That was kind of fun watching PRB trolling Zippy.
    ClydeCoulter on the Liberty Movement:
    Yeah, they'll argue over roads and religion, but there are certain themes that bind, among those are freedom and the search for truth and justice.

    Loyalists gonna loyal.

  25. #24

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    Quote Originally Posted by oyarde View Post
    I do not really consider myself much of a speculator with the exception that I do put 3 % of my gross , pre tax into the markets and it is matched . Most of my other earnings are in a job ,land , timber , farmland , few homes..... there really is not much speculation in growing blackberries , blueberries , potatoes , tomatoes , corn , green beans , pumpkins , cucumbers , squash , onions , radishes , turnips , apples , persimmons, paw paw's etc, bacon , eggs , smoking deer , grilling doves , fileting Pumpkinseed , Crappie , Bluegill , Warmouth , security , lead , copper , silver , gold .
    investing in crops is speculating and expecting that weather and climate will be stable enough to allow plant growth.

    some speculations may be more risky than others, but I don't see how not all investments are speculation of some sort.

  26. #25

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    Quote Originally Posted by Zippyjuan View Post
    Nothing is guaranteed on either but stocks have had more up years than gold has. Since gold was free to float against the dollar (beginning in 1972) it has been higher in half of those years and lower in half of those years. Stocks have been up most of those years.
    Yes, if you conveniently look at only a selected period of time to support your flawed viewpoint.

    This well thought out video debunks that viewpoint:


  27. #26

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    I bet Ramsey has some PM's .

  28. #27

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    Quote Originally Posted by Zippyjuan View Post
    Umm- no. Currency is what people use for money. If they aren't using it for money, it isn't currency. Ours is mostly electronic- like most of the rest of the world.
    I think that it is fair to call gold a currency. I have never tried it, but I think that I could travel anywhere in the world and buy anything I needed plus most things I wanted using nothing but gold.

    And if you guys want to send me some gold, I will happily conduct that experiment, reporting back from a wide variety of locations.
    * Enforce Border Security – America should be guarding her own borders and enforcing her own laws instead of policing the world and implementing UN mandates.

    * No Amnesty - The Obama Administration’s endorsement of so-called “Comprehensive Immigration Reform,” granting amnesty to millions of illegal immigrants, will only encourage more law-breaking.

    * Abolish the Welfare State – Taxpayers cannot continue to pay the high costs to sustain this powerful incentive for illegal immigration. As Milton Friedman famously said, you can’t have open borders and a welfare state.

    * End Birthright Citizenship – As long as illegal immigrants know their children born here will be granted U.S. citizenship, we’ll never be able to control our immigration problem.




    Reprinted from http://www.ronpaul2012.com/the-issues/immigration/ [Nov. 29, 2011]

  29. #28

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    Here it is for your comments:

    Will Dave Ever Change His Mind About Gold?

    QUESTION: A Twitter listener asks Dave if the price of gold continues to rise, will Dave change his stance on buying gold as an investment? Dave says no.

    ANSWER: No. I won’t because there are philosophical problems with investing in gold. There are two of them that will keep me from doing that in my lifetime. One of them is that I buy investments that are very conservative that have long track records. That doesn’t say that they never go down and they never go up. They do have some cycle to them, sometimes rather extreme cycles. But they have a long track record that is very positive and very predictable. On the short term, when it goes down, that means anything I’m buying is on sale. Gold, on the other hand, has a long track record of sucking—a very long track record of that. Gold has given us about a 1–3% rate of return in any 10, 20, or 50-year period except the last eight years. If you take out the last eight years of gold, it is unbelievably horrible. The only numbers that make gold even reasonable to look at are the last eight years, and of course the last eight years have been fabulous. The last three years have been bonkers. But I don’t buy stuff based on the short term. I don’t buy a single mutual fund that has a three-year track record or a four-year track record. A five-year track record is the minimum, and the concept of stocks in growth stocks in a mutual fund has an 80- and 100-year track record that is excellent, by the way. I don’t buy stuff that has, in the scope of its investing lifetime, had one little blip on the radar. I look at long histories on things. I don’t get caught up in the latest fad that way.

    When you buy segment funds or funds of certain segments of the economy—sector funds—or you buy certain investments that have lousy track records on the long haul just because they’ve had a recent spike, you’re going to get burned. That’s an investment philosophy right there. Another investment philosophy that keeps me from buying gold is it doesn’t have any intrinsic value. Stock represents a share of ownership in a company, and that company owns things and makes a profit. So there are mathematics you can do to determine the actual value of a company, thus what one share of ownership in that company is worth. So yeah, stock does have value. Gold is a shiny rock. The only reason it has value is that some of you think it has value. Diamonds are a shiny rock. The only reason they have value is that some of you assigned them value.

    Let me put it this way. All of your gains in gold are based on people’s perceptions. They’re not based on math. Your gains in gold are based on fear—people freaking out and thinking the world’s coming to an end, the government’s going to spend us into bankruptcy, we’re going to be at war, the lower class is going to arise, there are going to be riots in the streets, and all this other socialistic crap. Extreme right-wing, extreme left-wing breaks down the economics of life to the point that they don’t even make sense anymore.

    I don’t buy any gold, because it has a lousy track record and with the fact that it doesn’t have intrinsic value, what that’s going to lend itself to is extreme volatility. It can move instantly for no reason. As soon as people start feeling secure again in the economy and in economic growth, gold is going to go in half. It’s going to happen so suddenly that some of you are going to lose all your money. I’m not going to change my tune because it’s not going to start having intrinsic value, and it’s not going to start having a long-term track record, at least while I’m alive.

  30. #29

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    Here is a guy who doesn't like any investment in this economy and thinks cash is king for now.

    http://harrydent.com/

    He was on AJ a few days ago:

    http://archives2014.gcnlive.com/Arch...es/0318143.mp3

    Quiz: Test Your "Income" Tax IQ!


    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  31. #30

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    Quote Originally Posted by PRB View Post
    aren't all investments speculation? when you put something (time, labor, cash) in with expectation of return, you're both investing and speculating.
    No... an investment is something that will give you a return because it's productive, and the risk is not high and the return is calculable.

    Speculation is very high risk where the outcome is unknown and not really able to be calculated.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

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