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Don't Buy Gold

March 7th, 2009 at 03:23 pm

That's what Dave Ramsey said on his show Thursday to a caller named Rich. The caller was worried about the FDIC going insolvent. Dave said, he didn't believe that (although he didn't explain why). The caller also wondered about buying gold, since he heard about it on the Sean Hannity show. My husband has been trying to convince me of the same.

Dave Ramsey had a great explanation. If our economy totally collapsed, we wouldn't go around trying to buying items with gold bars, but would go to a barter system. We would trade a pair of jeans for a tank of gas and so forth. He even compared it to Katrina since that is what happened there.

His theory was that eventually confidence in the government would be restored and the ability to establish a new monetary basis would be possible. This makes sense to me.

I think there is a lot of fear and worry out there. It was nice to hear someone with a calm perspective. Here's a

Text is link and Link is http://www.daveramsey.com/tdrs/
link to his site. Listen to the archives from Thursday's show. It's about 15 minutes into the first hour.

Posted in Uncategorized | 1 Comments »

1 Responses to “Don't Buy Gold”

  1. Petunia Says:
    March 7th, 2009 at 05:22 pm 1236446525
    1236446525

    I heard this too. . . and actually had been giving the matter some thought before I heard what Dave had to say. I do plan to do some more work on our emergency preparedness, and stock up a bit more on things. . . and not worry about getting gold, silver, etc.

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