What that says is that the government is in it to collect whatever it can, whenever it can and in the most ruthless way it needs to. Francisco was right in AS 1- Its a war and we need to take sides.

I agree with all the comments here, but DR puts out some good common sense information. My wife was in mortgage business before the government screwed that all up, then she retired. Many unqualified clients came to her to try to get money to buy a home. She bought one of Dave's book by the case and passed them out to many she felt were smart enough. Others she just told to go out and buy his book. Many of those she gave the book to came back in a year or so and actually qualified for a good mortgage. The book apparently was so easy to read and specifically told them what to do. They had cleaned up their credit cards and other credit issues and even saved some down payment money. Most brought her a gift, flowers, or something later relating that she and Dave had changed their lives. I personally had not realized that so many people are so ignorant about credit, finances, savings, etc. until she showed me. Apparently common sense isn't that common. It's actually been a majority of new buyers that just didn't get it, that listened to the likes of those in congress that told them to buy a home with nothing down.

I guess I learned when I was young, by saving my car washing, lawn mowing, weed pulling, bus boy, dish washing, paper route, box boy money to buy my first home at age 20. I've always used credit cards, used to put the cash in a jar at home after buying gas to insure I'd have the cash at the end of the month to pay the bill. I once paid $0.05 in interest on a credit card, but got it back because it was a bank error. Never paid another cent of interest on a credit card in my whole life.

I bought my first real car ('57 Chevy Bel Air Hardtop) with payments to GMAC. After I figured out how much extra that cost me I made payments to myself to have cash to the buy my next and all future cars for cash. I use credit cards for practically everything to establish credit,. get miles, but pay them off each month. We've used my Alaska AL VISA miles to take the family to Beijing, several trips to Maui, mainland flights, etc., and I've still got over 300,000 miles left.

Twice a bank (Seafirst [now gone]) offered me $10,000 dollars, once for 3 months and once for 6 months, free of interest changes. I guess they expected me to keep it longer so they could add on some interest. I took it both times, put it in my interest bearing savings, and paid it back the day before it was due. They stopped sending me those offers.

In this socialist and government controlled economy, the only way to really survive IS TO BE IN DEBT. Borrow as much as you can, let Obama' money printing machine automatically reduce your debt for you, and when the inevitable crash comes the debt is wiped out. Sad and kind of immoral, but is the alternative to save money and be wiped out by Obama's inflation? I say inflation in prices is more like 10% a year now, and CD interest is like 1%. If you are lucky and can time the stock market casino, you can make money there, BUT you have to get out quickly when things turn south.

Dave Ramsey is speaking to an audience of the average American. And, the above-average American to be honest because even they (on average) can't handle their money.

Nobody but the very dedicated and skilled at watching markets and trends should be investing in gold. If you don't understand it, you should NOT be investing in it, period. Otherwise, you are risking your assets based on the advice of someone who may (or may not) know what they're talking about. In this case, it may be good advice to buy gold, but, as I said before, it is YOUR responsibility to fully understand every niche and detail of the market you are investing in, whatever it may be. I'm not going to invest in an art gallery, even if everyone says it's an awesome investment, becuase I have no friggin' clue about that business.

THAT is why Dave Ramsey suggests you don't invest in gold. And aside from the last decade or so (in which I've made plenty of money on silver, and since sold when I realized my gains), gold and silver have underperformed relative to other investments.

His suggestion has always been to find a managed mutual fund that has a historical record of performance. In it you pay professionals to manage it for you. You can do no such thing with gold/silver.

AND, in the end, if North Korea sells a nuke and a 1000 mile range rocket to ISIS, which they then throw onto a container ship, park in a harbor in Galveston, launch and airburst it over the middle of Kansas, knocking out the entire electrical grid and most electronics in the US... what do you think your gold is going to be worth to the local shopkeeper? "Hey dude, I know your family is starving, but let me give you this 10 oz gold bar in exchange for that bushel of apples, so you can make some pretty jewelry..."

DR is correct. when the ecomony collapses gold will not get you anything because the person you want to give it to will not be able to do anything with it.
go to an expensive restaurant and have a $800.00 meal and when you get the bill put a kugerand down as payment and see if the will take as a medium of exchange? gold is only good for jewelry or use for computer chips.

$5Au keeps approximately 10% of his portfolio in gold largely as insurance against catastrophe.

Robbie,I agree with you. That's where I believe his advice is wrong! 1. I use credit cards to make money just as you do. 2. When major inflation is on the horizon, paying off debts with a fixed interest rate is a dumb idea.

Unfortunately I must also agree with you. It is quite sad, really.

But at the end of the day it doesn't matter what I want / think should happen. The free market will be the deciding factor for who people go to for advice. And it just reinforces what you just stated.

I agree but think Ramsey serves a purpose. A vast majority of Americans actually need help figuring out that they should avoid debt, etc. I wish there wasn't a market for that simple stuff. But, there's a huge market for it.

I agree! I think you better start up your own show and put Ramsey out of business.

Thanks man!

Just listened to it. Great show!