this is the ramsay call of the day part of the ramsay network patrick's with us in

springfield missouri hey patrick welcome to the ramsay show hi dave uh i am retired and i have

10% of my uh retirement in and silver, bullion, and coin.

And my question is, with the disruptions in the economy due to inflation, the Fed moved, the Ukraine war, and possible conflict with China in the future, Should I be invested in gold and silver?

And if not, is there an alternative?

Well, I'm 61, and I have a net worth of several hundred million dollars, and I have zero invested in gold and silver.

Tells me a lot.

Okay.

And so, you know, it's consistent.

In other words, my advice is consistent with what I do.

In the last 10 years, gold has averaged 3.6% while the stock market has averaged almost 12.

And so I, and the problem is that gold and silver are not necessarily what people will run

to unless they're just afraid or greedy, one of the two.

In other words, a failed economy that would rely on gold and silver will, before it relies on

that, will turn into a barter economy.

So, you know, the only way that, I mean, gold and silver does not have intrinsic value.

It has absolutely no value except what someone else will pay you for it.

Gold, our green president's faces on paper don't have any value except what someone else will

trade you for it.

And so that's how exchange or currency works.

It's when we as a society or as a group of people agree that something has value.

We agree that little shiny, clear rocks have more value than the rocks in our driveway,

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