Well, I probably wouldn’t be posting this if I didn’t have compelling evidence that he was a hypocrite. I listen to Dave Ramsey’s show very often and I think he has pretty sound recommendations. The problem with I have with him is the same I have with many personal finance experts and bloggers out there – they sell and endorse products that contradict their own financial advice. I can understand to some degree why bloggers do it: they need the money pretty badly. But you’d think that Dave Ramsey has enough where he can lay off the shady endorsements.
Anyway, below is a snapshot of the home page for Gold Stash for Cash. (Seriously, how can something with the name “Stash for Cash” NOT be a scam?) And in the lower right, you’ll notice Dave Ramsey’s big bald endorsement.
This wouldn’t be so bad if Ramsey was a complete moron like Glenn Beck. But Ramsey often rails against people who believe in hoarding gold, both on his television and radio show. He tells them how dumb investing in gold is and how the people who try to promote the sale of gold are complete idiots. He went as far to compare gold to “colored rocks” without any real value in this world.
But despite all this, despite his seemingly logical and sound opinion on this commodity, Ramsey fully endorses one of these “idiot” companies that pump up the perceived value of gold. (You can listen to it here) Yes, Dave Ramsey gets a cut from a Cash For Gold scam. I wonder if he teaches a chapter on “How to Rip Off Consumers” in Financial Peace University?