Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚡Gold & Silver Price⚡-THIS IS WRONG!...(Precious Metals CRITICS & Dave Ramsey)

Transcript

⚡Gold & Silver Price⚡-THIS IS WRONG!...(Precious Metals CRITICS & Dave Ramsey) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  Are your silver and gold a foolish investment?
• 0:03
  Did you make a mistake? Some big name people really
• 0:08
  dislike silver and gold. You may be like me, none of us
• 0:13
  knows for certain and may be worried.
• 0:16
  Was it a bad decision to invest in silver?
• 0:19
  To invest in gold? What about precious metal mining
• 0:24
  stocks? In this video, we're going to
• 0:27
  talk about who these big name people are, but more
• 0:32
  importantly, why they are wrong. Let's get started right now.
• 0:41
  You know who the biggest of the big name people are?
• 0:45
  You're right. That's you.
• 0:46
  It's a big deal that you're here in the basement with me.
• 0:49
  Welcome basement dweller. We got a great club of people
• 0:53
  here who love to talk about silver, gold.
• 0:55
  We're basement dwellers because we like to dig a little deeper.
• 0:59
  Please subscribe to the channel, turn on notifications, give it a
• 1:03
  thumbs up. Super chat, super thanks are a
• 1:05
  super appreciated. But who are these big name
• 1:10
  people? Other big name people that don't
• 1:13
  like silver and gold? Warren Buffett, Dave Ramsey and
• 1:19
  John Maynard Keynes. Are they wrong?
• 1:21
  This article from Zero Hedge points out that John Maynard
• 1:25
  Keynes, the godfather of money, printing of Fiat money, right?
• 1:31
  He famously called gold a barbarous relic.
• 1:35
  Specifically, what he hated about gold and silver are that
• 1:39
  they placed a constraints on government spending.
• 1:42
  Well, go figure. We know how that's worked out,
• 1:45
  right? Following in Kane's footsteps,
• 1:47
  investment whiz kid Warren Buffett, son of the great
• 1:50
  investor and Congressman Howard Buffett.
• 1:53
  Warren Buffett his famously disparaged gold as an
• 1:57
  investment, saying it has quote, UN quote, no yield.
• 2:02
  And hotshot radio voice Dave Ramsey has likewise sharply
• 2:08
  disparaged gold as an investment, saying it's, quote,
• 2:12
  just a shiny, shiny rock with no yield and that it's a terrible
• 2:18
  investment. Now let's look at the reasons
• 2:21
  why Dave Ramsey, Warren Buffett and John Maynard Keynes could
• 2:26
  likely be wrong. You never know.
• 2:28
  We may eventually have all three of them down here in the
• 2:30
  basement with us. This hatred and disparagement of
• 2:34
  gold and silver as money and the gold standard has become
• 2:39
  standard dogma of the pillar of the modern state, the
• 2:43
  government. The message from the government
• 2:47
  and from the central banks is gold's no good, silver is no
• 2:52
  good. But that begs the question, why
• 2:54
  do they hate gold? Why do they hate silver so much?
• 2:58
  I propose that maybe they feel threatened.
• 3:02
  In complete contrast, regular people in society still
• 3:06
  instinctively see gold and silver as an emblem of
• 3:10
  excellence. More than half a century since
• 3:13
  the last vestige of the gold standard was taken away from US,
• 3:17
  gold medals still represent the very best achievements.
• 3:21
  Silver medals represent the next level down.
• 3:25
  Teachers and parents still use the star system, with gold or
• 3:29
  yellow stars or Silver Stars representing the highest
• 3:33
  achievement. From babies to high school
• 3:36
  students, gold stars are still an inducement to effort and
• 3:41
  achievement later in life. Gifts of gold jewelry, silver
• 3:46
  jewelry are used to convey our affection and admiration.
• 3:50
  Even marketers of companies and company products where there's a
• 3:54
  profit and loss prime directive strive to be able to claim that
• 3:59
  their company, their product or their service is the gold
• 4:04
  standard in their industry or with their customers.
• 4:08
  We see gold and silver and platinum checking accounts at
• 4:13
  our banks, even places like Six Flags.
• 4:15
  As we look at their 2025 season pass offering, what do we see
• 4:21
  right above the $59? It's the gold pass.
• 4:25
  Do you think it's safe to say that gold and silver are
• 4:29
  embedded in our very fabric everywhere, throughout our
• 4:33
  country, in the United States and Canada, all throughout
• 4:37
  Europe? Everyone knows instinctively
• 4:41
  that gold and silver are the most valuable.
• 4:45
  When humans started to see the world in terms of its elements,
• 4:49
  humanity took off. The Bronze Age.
• 4:51
  Society, culture, religion, building, science, etcetera.
• 4:55
  Gold was the rarest and most precious, even cherished of
• 4:59
  them. Human history is replete with
• 5:01
  gold exclamations, whether it's in culture, religion, art, and
• 5:05
  now technology and even medicine.
• 5:07
  The greatest age of peace and prosperity is the gold standard
• 5:13
  era of the 20, I'm sorry, the 19th century.
• 5:16
  What about investment comparisons, as we're talking
• 5:19
  about what Mr. Ramsey, Mr. Buffett and Mr. Keynes as they
• 5:22
  disparage our gold, how did it compare over the years to other
• 5:27
  investments? First of all, gold's primarily
• 5:30
  not an investment. Gold and silver are monies, the
• 5:33
  most advanced forms of money for thousands of years before this
• 5:38
  current age which we're living in, which could be the age of
• 5:41
  inflation, the age of paper money, the age of make believe
• 5:45
  Unicorn fart dust. Technically, gold and silver are
• 5:49
  not money now, but only because they were forced out of that
• 5:54
  role by the state. Gold shackles the state paper
• 5:57
  money unleashes it from its golden cage.
• 6:00
  Murray Rothbard explains this in his What His Government Done to
• 6:04
  Our Money, which is a very important work for all of us to
• 6:08
  read. When it comes to investment
• 6:10
  returns, gold can underperform stock investments.
• 6:14
  However, when you look at the average closing prices for gold,
• 6:19
  the Dow and the S&P 500 during 1971 when we were taken off the
• 6:26
  gold standard, and last year, 2023.
• 6:31
  If you divide the 2023 price of gold by the 1971 price of gold,
• 6:37
  gold went up 47 1/2 times. The Dow during that same period
• 6:42
  only went up 38.6 times, and the S&P went up only 44 point six
• 6:49
  times. Gold wins.
• 6:53
  Do you agree that maybe Mr. Buffett, Mr. Ramsey, and even
• 6:58
  Mr. Caines are wrong? Does the evidence show us that
• 7:02
  for thousands of years gold and silver have won and it's very
• 7:07
  likely that they will continue to win as we move into the
• 7:12
  coming decades and centuries? Hey, thank you for joining me
• 7:15
  today. If you want to get your hands on
• 7:17
  some silver, gold or platinum, please support channel sponsor
• 7:22
  Pimbex Pi MB EX. They're an online bullion dealer
• 7:26
  where you will find ultra competitive prices, great
• 7:30
  selection and a company you can trust.
• 7:33
  I've had overwhelmingly positive response over the last year from
• 7:38
  the basement dweller community. From those of you who have tried
• 7:41
  Pimbex, you've been very, very happy.
• 7:43
  Thank you for your support. Also channel sponsor First
• 7:46
  mining gold and Fortuna Mining. You can and learn more about
• 7:50
  them at their respective websites.
• 7:52
  Both great companies, both stocks that I own, but I'm not
• 7:56
  giving financial advice. I'll put links to their company
• 7:59
  websites in the description of this video.
• 8:02
  Most importantly, thank you for joining me.
• 8:05
  It is a big deal. You are important.
• 8:08
  Leave a comment in the comment section, subscribe to the
• 8:11
  channel. But please, most importantly,
• 8:13
  come back and spend some more time with me here in the
• 8:16
  basement. I'll see you soon everybody.
• 8:19
  It's Ron from Rons basement live on the log flume.
• 8:22
  Say hi girls.