I just might be the only talk radio host in the country that does not endorse gold! The reason is simple: gold is a horrible investment! . . . People started buying it more not because it's a good investment, but because of some false belief that if the economy totally collapses gold will hold its value. If that were true , gold coins would have become the dominant currency in New Orleans during the Katrina disaster! That's a great picture of a mini economic breakdown. If you had been there at the time, I bet you would have gotten a lot more for a bottle of water than for gold coin!

But look at the numbers. Gold was worth $21 an ounce in 1833 up to $275 per ounce by 2001 and then shot up to about $1,345 by 2010. Even including this crazy growth gold experience in the first decade of this century, the 177 year track record for gold is just 2.38%...if gold was ever a good investment you always want to buy low and sell high. Gold gives you the chance to do the opposite, that's a bad plan.

— The Legacy Journey by Dave Ramsey (Page 220 - 221)