Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⚡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 Meme Coin Investing & Global Economics

• 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
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  stocks? In this video, we're going to
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  talk about who these big name people are, but more
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  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
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  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?
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  He famously called gold a barbarous relic.
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  Specifically, what he hated about gold and silver are that
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  they placed a constraints on government spending.
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  Well, go figure. We know how that's worked out,
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  right? Following in Kane's footsteps,
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  investment whiz kid Warren Buffett, son of the great
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  investor and Congressman Howard Buffett.
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  Warren Buffett his famously disparaged gold as an
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  investment, saying it has quote, UN quote, no yield.
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  And hotshot radio voice Dave Ramsey has likewise sharply
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  disparaged gold as an investment, saying it's, quote,
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  just a shiny, shiny rock with no yield and that it's a terrible
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  investment. Now let's look at the reasons
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  why Dave Ramsey, Warren Buffett and John Maynard Keynes could
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  likely be wrong. You never know.
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  We may eventually have all three of them down here in the
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  basement with us. This hatred and disparagement of
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  gold and silver as money and the gold standard has become
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  standard dogma of the pillar of the modern state, the
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  government. The message from the government
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  and from the central banks is gold's no good, silver is no
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  good. But that begs the question, why
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  do they hate gold? Why do they hate silver so much?
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  I propose that maybe they feel threatened.
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  In complete contrast, regular people in society still
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  instinctively see gold and silver as an emblem of
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  excellence. More than half a century since
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  the last vestige of the gold standard was taken away from US,
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  gold medals still represent the very best achievements.
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  Silver medals represent the next level down.
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  Teachers and parents still use the star system, with gold or
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  yellow stars or Silver Stars representing the highest
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  achievement. From babies to high school
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  students, gold stars are still an inducement to effort and
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  achievement later in life. Gifts of gold jewelry, silver
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  jewelry are used to convey our affection and admiration.
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  Even marketers of companies and company products where there's a
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  profit and loss prime directive strive to be able to claim that
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  their company, their product or their service is the gold
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  standard in their industry or with their customers.
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  We see gold and silver and platinum checking accounts at
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  our banks, even places like Six Flags.
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  As we look at their 2025 season pass offering, what do we see
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  right above the $59? It's the gold pass.
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  Do you think it's safe to say that gold and silver are
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  embedded in our very fabric everywhere, throughout our
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  country, in the United States and Canada, all throughout
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  Europe? Everyone knows instinctively
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  that gold and silver are the most valuable.
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  When humans started to see the world in terms of its elements,
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  humanity took off. The Bronze Age.
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  Society, culture, religion, building, science, etcetera.
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  Gold was the rarest and most precious, even cherished of
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  them. Human history is replete with
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  gold exclamations, whether it's in culture, religion, art, and
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  now technology and even medicine.
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  The greatest age of peace and prosperity is the gold standard
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  era of the 20, I'm sorry, the 19th century.
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  What about investment comparisons, as we're talking
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  about what Mr. Ramsey, Mr. Buffett and Mr. Keynes as they
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  disparage our gold, how did it compare over the years to other
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  investments? First of all, gold's primarily
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  not an investment. Gold and silver are monies, the
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  most advanced forms of money for thousands of years before this
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  current age which we're living in, which could be the age of
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  inflation, the age of paper money, the age of make believe
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  Unicorn fart dust. Technically, gold and silver are
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  not money now, but only because they were forced out of that
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  role by the state. Gold shackles the state paper
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  money unleashes it from its golden cage.
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  Murray Rothbard explains this in his What His Government Done to
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  Our Money, which is a very important work for all of us to
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  read. When it comes to investment
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  returns, gold can underperform stock investments.
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  However, when you look at the average closing prices for gold,
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  the Dow and the S&P 500 during 1971 when we were taken off the
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  gold standard, and last year, 2023.
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  If you divide the 2023 price of gold by the 1971 price of gold,
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  gold went up 47 1/2 times. The Dow during that same period
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  only went up 38.6 times, and the S&P went up only 44 point six
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  times. Gold wins.
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  Do you agree that maybe Mr. Buffett, Mr. Ramsey, and even
• 6:58
  Mr. Caines are wrong? Does the evidence show us that
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  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
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• 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
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• 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.