Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 💥Silver Price💥- It Happened!!... (Gold Price, CPI Too)

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💥Silver Price💥- It Happened!!... (Gold Price, CPI Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Today is a massive good day for the precious metals. 4 silver, 4
0:04
gold. I was wrong.
0:06
I'm here to eat some crow. I made a big prediction
0:09
yesterday about the CPI numbers. I was dead wrong.
0:12
I said they would come in lower. They came in higher.
0:15
But that's actually great news for silver and gold investors
0:20
because of today plays out the way it is played out so far.
0:23
Guys, we are absolutely into a new world.
0:27
I'm going to explain to you the reasons why, the reasons why I
0:31
still know in my heart that I believe we will see $44.00
0:36
silver by Christmas. Who knows how high the gold
0:39
price will go, but it's a big deal.
0:41
You're here, Yes. The most important part of the
0:43
basement is you. Thank you for being here.
0:46
Thanks for spending this time with us.
0:49
You're part of the group. You always belong here.
0:51
Please give the video a thumbs up.
0:54
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1:00
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1:02
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1:05
Today is a massive big day, guys, and I've got other Matt
1:10
big news that I was going to talk about first regarding
1:14
silver and some new buyers, a new group who are showing up at
1:18
the silver and gold party. But first, let's cover the big
1:22
news of the day and why it's so important.
1:24
The reason why it's so important.
1:28
Let's go out to our trusty friends at CNBC Today we got
1:33
news double, double whammy. This is big inflation rate at
1:38
2.4% in September, higher than expected.
1:43
Oh my gosh, right. Ron was wrong.
1:46
I said it would come in lower. I was dead wrong.
1:48
I eat crow. However, however right, the fact
1:51
that we had this higher than expected inflation and double
1:58
whammy on top of that, jobless claims are the highest since
2:02
2023. Let's just briefly read through
2:05
the data as it came in the CPI index, The inflation index
2:09
increased at a seasonally adjusted .2% for the month.
2:13
Put in the annual inflation rate at 2.4%.
2:17
Both were point 1% point, point 1% point, whatever.
2:23
Higher than forecast, excluding food and energy.
2:27
Because we know none of us, we don't spend any of our money on
2:30
food or energy. Core prices rose .3% on the
2:33
month, putting the annual rate at 3.3%.
2:36
Both core ratings also were point 1% point.
2:41
That doesn't sound right. Anyway, above forecast, higher
2:45
than expected despite my, my, my struggling with that verbiage.
2:51
Also, initial filings for unemployment benefits took an
2:53
unexpected turn higher, hitting a seasonally adjusted 258,000
2:59
for the week ending October 5th, the highest total since 2023
3:05
somewhere here in my notes. Yeah, so it was 258,000 initial
3:09
jobless claims. Those are fresh new unemployed
3:12
people, 258,000 versus an expectation of 230,000 people.
3:19
Why is this a big deal? Right?
3:21
I'll say one last time I was wrong.
3:23
I thought the inflation number would come in lower.
3:26
I thought that would be good for gold and silver because that
3:29
would indicate that the Fed has a lot more room to lower rates.
3:33
Everything's out the window, guys.
3:35
That's what's so important. All these old relationships.
3:38
The Fed has lost its swagger, Baby Jerome Powell.
3:43
They're, I feel powerful. Don't get me wrong.
3:45
I've a lot of respect for the Federal Reserve and the Treasury
3:48
Department for that matter. However, the reality is, is that
3:52
inflation now rules the day. And what we saw this morning and
3:57
what we're seeing so far today in the gold and silver markets
4:02
are making that super clear for us.
4:05
We are in for some unbelievable good times as we head into the
4:10
coming months, quarters and years for the gold and silver
4:13
price because let's go out to channel sponsor Pinbecks.
4:15
We'll get an update. All right, This is always kind
4:18
of the scary part of the show because that is not the updated
4:21
price. I need to press the Pinbecks
4:23
magic button up there to see the updated price.
4:26
Now, silver was up 43 cents. I think it's down a little bit
4:30
now, but let's see. Take a deep breath.
4:32
And silver's up $0.35. Nonetheless gold, gold is up
4:39
almost 16 dollars, 2624 dollars. I was talking with some friends
4:46
this morning and we we mentioned, like I remember a
4:49
year ago right now, I was in Quebec, Canada, had just gone on
4:54
a tour of a gold mine, first mining golds du parquet project.
4:58
It was awesome, OK, And we were sitting at the airport getting
5:01
ready to leave and gold was up $50.00 an ounce that morning,
5:04
but it was still like $1900 per oz.
5:07
We've come a long way. By the way, if you're looking to
5:11
get your hands on some silver, gold or platinum, I was looking
5:14
at these this morning. I can't believe this.
5:18
Here we go. OK, 2024 Australian silver
5:25
Kangaroos Brilliant uncirculated for 33 as low as 33 dollars an
5:30
ounce. Now of course that's if you buy
5:31
in bulk and you and you and you use an ACH or you know, cash
5:35
type payment. But nonetheless, OK, we've got
5:38
silver at almost $31.00 an ounce.
5:41
US Americans are spoiled. We can buy sovereign minted
5:45
coins, Brilliant uncirculated for $2.00 over spot.
5:50
I mean heck, the Shanghai Gold Exchange is even more expensive.
5:54
But please help support channel sponsor pin backs.
5:58
It's been over a year. I've had a great relationship
6:01
with them. But what makes me feel the best
6:03
about pin backs is what I hear from you, the basement dweller
6:06
community. The overwhelming positive
6:09
response, the emails that I get thanking me and I don't really
6:13
need to be thanked. Thank Pinbecks.
6:15
But for the great experiences you've had with Pinbecks, if
6:18
you're looking to get your hands on some gold, silver or platinum
6:22
group metals, check out Pinbecks.
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They always have great, great pricing, great selection, and
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what's paramount is a company that you can trust.
6:32
Now back to this. Where were we?
6:34
All right, biggest day in the history of the universe right
6:39
now we're having it together, guys, for gold and silver.
6:42
I don't care if silver ends the day even, right?
6:45
Who knows? I got a feeling it could go much
6:47
higher, right? My predictions have been wrong
6:49
lately, so don't make any financial decisions based on
6:51
anything that I'm sharing. But nonetheless, this is a huge
6:54
deal. What today signifies for the
6:56
gold and silver market is that inflation now rules the day.
7:01
It's another piece of solid evidence telling us, right, if,
7:05
if this was two years ago and we got higher than expected
7:09
inflation, gold and silver would have been torpedoed.
7:12
Had you told me yesterday that we were going to have higher
7:16
than expected inflation numbers, I would have told you, boy, we
7:20
might have a rough day in the gold and silver market.
7:23
That has changed. This is very, very, very good
7:27
news for the precious metals markets.
7:30
On top of that, we've got this big issue right now with tons of
7:35
uncertainty in the world. I'm hearing the top analyst and
7:38
why is that a big deal? Why is that a big all this
7:41
uncertainty, economic uncertainty, financial
7:45
uncertainty, geopolitical relationship, AKA war
7:50
uncertainty. It's a big deal because
7:52
uncertainty is a massive driver for the gold price and the
7:56
silver price, it's going to be interesting here as we get.
8:00
So wait for it. I believe we're in for some
8:03
very, very good times. Oh, the biggest news, I almost
8:06
forgot the biggest news of all, what this signifies for us this
8:10
morning, what it means for silver and gold investors.
8:14
Look, guys, those of you who've been around a while and the new
8:17
people are just as welcome. We'll do a quick review.
8:20
But the people that have been here in the basement for a while
8:23
know that I have been pounding the table on stagflation.
8:30
I want you to think about something right now.
8:33
What news did we get this morning?
8:35
What were the two big news items we got this morning?
8:39
And I'm going to give you the reason why that's a good, good
8:43
situation. The most fertile soil on the
8:45
history of the universe for higher silver prices and gold
8:49
prices. We heard that inflation's up,
8:53
OK. We also heard that we had a a
8:57
rising number of first time unemployment claims.
9:01
That is stagflation. Those are two big indicators
9:05
telling us stagflation is on the way.
9:08
Stagflation is a stagnant economy, a recessionary economy,
9:13
a slowing economy. Stagflation is the inflation.
9:20
So it's a combination of a slowing economy and high
9:22
inflation in that environment. Just think about this.
9:26
The reasons why that's so conducive to higher precious
9:30
metals prices is this is the economy stagnates.
9:35
All right, let's think about the stock market.
9:37
Big Fortune 500 companies, their sales, right, are going to
9:41
either go down or maybe just stay where they are.
9:44
Stagnate, right? But at the same time, here's
9:47
their sales, their expenses go up and up and up because of
9:52
inflation. And the inflation that we have
9:55
right now is not because of a strong economy, it's because of
10:00
a ridiculous amount of debt, right?
10:03
It's because of geopolitical strife in the world.
10:07
We're not having inflation because of a good thing, which
10:10
would be a booming economy. No, we're having inflation
10:13
because we got a 35.8 trillion or I exaggerated, I apologize,
10:19
$35.7 trillion national debt. So as that happens, this the
10:25
economy stagnates and sales stagnate and inflation comes up.
10:28
That makes the stock market, that makes profits for big
10:31
corporations, cash flows. All right, and I can use some
10:34
fancy accounting terms for you, but it's basically profit that
10:38
the big companies make go down. It makes the stock market
10:41
stagnate, makes the stock market go down.
10:43
OK. At the same time, all that money
10:47
is looking for a new home now. We had a very similar
10:51
circumstance to this unfold during the 1970s in this
10:54
country. I remember it clear as day.
10:57
I was born in 1970, right? My mom will vouch for this as
11:02
being 100% true. The first word out of my mouth
11:08
was stagflation. My parents were heartbroken.
11:13
My next few words were buy gold, OK?
11:16
And they didn't listen to me. No.
11:17
On a serious note, stagflation ruled the day in the 1970s.
11:22
You've heard me. You're going to get mad at me.
11:25
I understand. You guys get mad at me all the
11:26
time. That's OK.
11:27
You don't have to like me all the time, right?
11:29
I'm just giving you the truth. And it's a good truth.
11:33
You need to smile. It's time for us to smile,
11:35
basement dwellers, because we know that in the 1970s, it's
11:39
unbelievable the price increases that were experienced by silver
11:47
and gold. Now, I'm not guaranteeing that
11:51
that's going to happen again, however kind of you walked
11:54
outside right now and you saw a bunch of big black dark clouds
11:58
in the sky and they were moving towards it.
12:00
You might think, oh, it's going to rain soon, right?
12:03
Well, that's the situation. We have very similar conditions
12:06
right now to what we had in the 1970s.
12:10
And boy, you wouldn't even you wouldn't even believe the
12:14
increases. You wouldn't even believe if we
12:16
were to have a fraction of the price increases that we had in
12:21
silver and gold now compared to what we had then.
12:24
OK, stagflation is real. All right, let me let me give
12:29
you the quick visual because he's he's itching to say hi to
12:32
you. I've got somebody who wants to
12:33
say hi to you. Hold on one second.
12:35
There you go. Hello, everybody.
12:40
It's your old friend Jerome Powell.
12:42
On a serious note, this is your golden box.
12:45
Because he's boxed in. He has a recession on one side
12:50
and he has inflation on the other, inflation that he cannot
12:54
control. He's been neutered, right?
12:57
the Fed is dead. They're going to talk.
12:59
It's all they are. Is hot air at this point the
13:02
only thing, the only thing that he can do?
13:07
I think our friend Don Indras is sending me some more dollar
13:10
toilet paper, right? Is this OK?
13:13
This is his only trick. I'll give you a visual, right?
13:17
Create more money. Because when you're in a
13:19
recession, when you're in a recession, you really need to
13:25
lower interest rates, right? You need to stimulate the
13:27
economy. Print money.
13:30
OK. But at the same time, that
13:32
creates a lot more inflation, runaway inflation.
13:35
And be ready for it. It's coming.
13:37
And that's why I say unequivocally that in the next
13:41
couple years, you heard it here first, you're going to start to
13:44
hear about the S word. You know what the S word is.
13:48
You're also going to be hearing. So you're going to get inflation
13:51
shoved down your throat. And I'm telling you this, your
13:54
neighbors who are laughing at you right now.
13:57
OK, not all of them because all those, they're calling them
14:00
Costco dads. All the Costco dads are going to
14:03
Costco and buying themselves gold bars.
14:05
Going to stick it in here with the diapers, right Anyway, and
14:08
it's great. I'm just having some fun.
14:11
But all those people that are laughing at you right now are
14:14
going to be are going to be looking at silver and gold.
14:17
And you're already you're already in the theater.
14:19
You're already in the basement. Look, we got 500 people here
14:22
right now. You're already here.
14:23
You're early. Sometimes being early can feel a
14:26
little bit like being wrong. Now let's talk about silver,
14:30
because this just adds more fuel to the fire to the to the, to
14:36
what I believe is my strong conviction that we're in for
14:39
some unbelievable good times. And silver, I want to have this
14:42
guy in the basement. Peter Karoth.
14:44
Karoth. I'm sorry.
14:45
Peter Karoth. He wrote the book.
14:47
I can't reach it. It's over there.
14:49
Shoot. Hold on one second, guys.
14:52
I I owe this guy. Hold on one second.
14:54
I'll be right back. Don't leave, basement dwellers.
14:57
Don't leave. No way.
15:02
I'm coming back. Here I go.
15:07
Oh, shoot. I got the wrong book.
15:09
What did I do? Oh, shoot.
15:10
OK, hold on here. Sorry.
15:12
Hopefully we're still live. Are we having technical
15:15
problems? I got up to get the book and I
15:20
got the wrong book. I got Peter Granich's book.
15:22
Who doesn't love Peter Granich? That's a great book.
15:25
That's not the book I wanted to get.
15:26
The one I wanted was already right over here.
15:29
The great silver bowl. This is like a best seller in
15:32
Canada right now. Peter Croft, See that down
15:35
there? OK, now let's get back to what
15:39
he had. This is good news for silver on
15:42
top of stagflation. We're in good shape.
15:47
You're in good hands with Ron's basement.
15:48
Peter Croft says seams. Hold on here.
15:53
Oh, boy. We're having some technical.
15:55
I don't know. I think we're still alive.
15:58
Here we go. Peter Croft.
16:00
Oh, shit. Shoot.
16:02
I didn't say that. Seems silver buyers are back to
16:06
buying ETF's. Silver oz held are rising once
16:11
again. This is a day of double
16:13
unbelievable good news for silver buyers.
16:16
OK, what we what we said, what we saw happened this morning.
16:19
The reaction to the to the inflation numbers and the worst
16:24
than expected employment numbers is massive.
16:26
That alone gives us reason for for a lot of optimism and
16:31
silver. But this my friends, this is the
16:34
big deal and I'm going to tell you the reasons why right now.
16:38
This shows silver Oz held if you look at the top.
16:42
Let me get the crayons out. OK.
16:47
This black line is the price of the SLVETF.
16:50
This blue line is the number of Oz that were in it.
16:55
This is this is big, big big. As you can see from about
16:59
January of 2021, it looks like it peaked around wow, almost 675
17:06
million oz got all the way down here to 400 million oz.
17:11
So dropped by 275,000,000 oz and now it's moving back up.
17:17
I guess I don't need my crayons. They did it for me.
17:19
Thank you, Peter. See the green arrow?
17:20
Looks like this comes from sentiment trader.
17:23
This is a huge deal on many, many levels, guys, because the
17:28
missing link in the silver price has been the investor.
17:33
I heard Jeffrey Christian say this, the guy from CPM group
17:37
that some people there's, you know, some people like him, some
17:39
people he's a, he's tells his truth and stands by.
17:42
He's not always real, real positive on silver and gold, but
17:46
he said it himself. It's like 3 or 4 weeks ago that
17:50
as we go into the next six months, the, the, the factor
17:53
that really needs to come into play for silver and I, if I
17:56
remember correctly, he said he thought it was going to happen
17:59
is the investor coming back. This shows us that the investor
18:04
is coming back. Now that's one thing.
18:08
Hold on. Let me take a good look at you,
18:09
basement dweller. That's one thing, but there's
18:12
another. This is mind blowing.
18:14
When we look at this chart, there's another.
18:16
Do you know what it is? Do you do you already know?
18:20
Then you you know, I'll let you come down here and do the live
18:23
stream. Buttercup, Seriously, I
18:27
appreciate you being here. We're going to get to this other
18:29
major thing. But you know what?
18:31
I haven't told you this for a while.
18:33
It's a big deal. I know you love silver or maybe
18:36
you love gold, or maybe you have a close relationship with both
18:40
of them. Thank you for being here.
18:43
On behalf of Susie and myself. Thank you to the moderators,
18:46
Jake from Jake's Custom Parts, Big 10, the Silver Shire, And
18:49
there's one other one. Oh yeah, the world famous Annie
18:53
Oakley. And of course, Susie, who's not
18:55
here right now. She's off site, but it's a big
18:59
deal. The moderators, you.
19:01
Thank you. OK, Now let's get back to this.
19:06
Oh brother, this is a big deal guys, because I just want you to
19:11
look, if we go from 400 million oz, which is I know where we
19:16
were, we went, we it went up by 50 million.
19:18
If we go back from 4:50 to 6:50, that's another 200 million
19:25
ounces of silver that will need to be purchased by the SLVETFI.
19:31
Want to point this out to you. A lot of this decline, OK, that
19:37
those, that that means they were selling silver, selling silver,
19:40
selling silver. You know who's buying it?
19:42
Probably China, but that's a whole different story.
19:45
The silver price hung strong and actually did well during that.
19:50
So just think this is the reason why it's a big deal.
19:54
Just think what will happen. Let's just say it goes back to
19:59
where it was a few years ago. So that's 200 million ounces of
20:02
silver that need to be purchased.
20:05
Where's that going to come from? I got a chart I'm going to show
20:07
you in a little bit That's, I think one of the best visual
20:10
demonstrations of the supply and demand dynamics within the
20:15
silver market. Where's the silver going to come
20:17
from? Oh.
20:19
OK, so that's number one. Oh my gosh, it's it's this is
20:23
getting unbelievable. Let's go look briefly and then
20:26
we're going to come back to this crazy silver story.
20:30
But I want to pull this chart up because I thought that it showed
20:32
very clearly better than any that I've seen lately or that
20:38
I've observed lately. I'd like you to look on the
20:40
upper left corner where it says $32.
20:43
This is a six month chart of the spot silver price $32.
20:49
Do you see how many times we have bumped up against that Juan
20:54
Uno Dos Tres Quattro? 4 times.
20:58
Now I don't know if these, you know, technically I'm not a
21:01
technical, but to me these are attempts to breakthrough $32.
21:06
OK, I know that three times is very unusual. 4 times is like
21:11
almost unheard of, you know, but we've seen a lot of unheard of
21:16
things in the silver market none the less.
21:19
Eventually silver is going to breakthrough this $32 level and
21:25
it is going to be a day. I want you to think about that.
21:28
I mean, we have not. We briefly did the other day by
21:32
the way. We saw $33 silver I think in the
21:34
futures market very briefly. But it's going to be incredibly
21:39
interesting. Now is we go back to what we
21:42
looked at earlier, right? The fact that that, that what
21:45
if, what if the SOVETF has to buy 200 million oz?
21:50
What if it gets even more extreme, 300 million, 400
21:53
million oz? That's one thing.
21:55
But then we got to talk about the other little elephant in the
21:58
room. Where's my elephant?
22:00
There he is. There's another elephant in the
22:02
room in the silver market. That's the silver elephant.
22:05
And that is what about like Russia now they're going to be
22:09
buying silver. Remember, the Russian
22:11
government, like that's the first government central bank
22:13
and forever Russia will be buying silver.
22:16
The SOV is going to be trying to buy silver.
22:19
Citibank, Citibank, Citigroup, whatever, right?
22:24
One of the most respected financial institute.
22:26
What did they say about silver? They said something very, very,
22:31
very intriguing. They Citibank said that the
22:35
Chinese population is starting to buy silver as an investment,
22:41
OK? The SOV that we just talked
22:43
about, that's as an investment, OK?
22:46
The Russian government, that's an investment investment demand
22:50
is going to drive, OK? It is the marginal source of
22:54
demand that could could make the silver price absolutely explode.
23:00
OK. Oh, that not.
23:02
What about the short position here?
23:06
I did a little research for you. All right, you know what a
23:08
bullion bank is. Well, I do and I'm going to
23:11
share this with you though, because there's a lot of
23:13
different, there's a lot of different stories out there
23:18
right now about SWAT dealers, bullion banks short position.
23:24
I heard somebody say there's a 590 million oz short position on
23:28
the, on the silver market, the paper silver market, right?
23:33
And remember those short positions eventually must be
23:37
covered in the how they're covered.
23:39
What that means is people have to buy the silverback cuz when
23:42
you short something, you sell it with the intention of buying it
23:45
back at a later date at a lower price.
23:48
But if it goes against you and the price goes up, then you got
23:50
to buy it back at a higher price.
23:52
That, my friends, is a the anatomy of a short squeeze
23:57
squeeze. Remember short squeeze?
24:00
So here this came from AI artificial intelligence swap
24:06
dealers. Excuse me, swap dealers, also
24:11
known as bullion banks. Are you wondering what a bullion
24:14
bank is? I got the answer for you in just
24:16
one second. They have increased their short
24:17
positions in silver on the COMEX since February of 2024.
24:23
Now this was actually an art. It came from an article.
24:25
I believe they pulled this information from July as the
24:29
commitment of traders. The COT report, they are short
24:33
217,000,000 ounces of silver or 43,400 contracts because each
24:41
contract is for 5000 ounces of silver, 5000 oz bar.
24:46
I guess I don't know. Anyway, if you multiply 43,400 *
24:50
5000, you probably get very close to 217 million oz.
24:55
They are short the S Let's just do a quick review the SOVETF.
24:59
What if they what if, what if investors keep continue to buy
25:04
and we get back to a level where we just were in the last few
25:07
years could be hundreds of millions of Oz of silver that
25:11
need to be bought. Citibank tells us the Chinese
25:14
population is buying silver. We know the Russian government
25:17
is buying some silver. We don't know how much the
25:20
Russian government's buying, but what's significant there is that
25:24
it's the first government or central bank to buy silver in
25:27
decades. And then we've got this cot
25:29
report that the big short position on the silver market by
25:34
the bullion banks. You want to know what a bullion
25:36
bank is? You know, I heard that term all
25:39
the time and I thought I knew, but I wanted to confirm it.
25:41
It's one of the big banks, right?
25:43
JP Morgan, Goldman Sachs, I don't know, UBS, There's a bunch
25:48
of them. You can Google it for yourself.
25:49
But it's the big banks that deal in silver and gold.
25:53
They are massively short. And I was watching Chris Marcus
25:57
from Arcadia Economics last night, I think so I think I'm
26:01
remembering that correctly. Correct me if I'm wrong, Chris,
26:05
Chris is a friend of mine, but he was talking about the COT
26:07
report in the short. And, and that what I'm hearing,
26:11
and I'm not now putting words into Chris's mouth, is that
26:14
there's like historically high. I don't think it's an all time
26:18
high, but a historically very high levels.
26:21
And I think on gold it might be a record, but nonetheless, on
26:24
silver and gold at minimum, historically high short position
26:29
by the big bullion banks guys, it could be snowball.
26:34
I won't go down that path, but it could be snowball time for
26:39
the silver and gold market. Let's go look at the silver
26:41
supply. This chart I thought was
26:43
awesome. Wait till you see this hold on
26:49
here. Is that it?
26:50
Oh here quickly. Oh no, I don't want to see you.
26:54
This is a chart of the commitment of traders silver
26:59
5000 oz bars. Like I told you, on the top are
27:02
the longs OK, and on the bottom are the shorts.
27:05
And that's where you can see it does look like this is for
27:07
silver, like it was maybe a little higher back in May.
27:10
But nonetheless, there's a massive that's the commercials,
27:14
the non commercials and the non reportables.
27:16
There's a big, it looks to me net much longer short position.
27:21
That's not my area of expertise. I'm not a cut report, you know,
27:25
futures market type guy, but I do.
27:27
I can tell you with a very high level of confidence that we are
27:32
at historically very high levels in terms of the short positions
27:36
in the silver market and the gold market.
27:38
Now let's go over here guys. This is a great one.
27:42
You're going to love the silver supply and demand.
27:45
This comes from mining visuals. OK, let's just read this one
27:50
paragraph and then we're going to, we're going to dive in,
27:53
literally dive into this chart because it is fascinating.
27:57
In 2023, silver demand exceeded supply for the third consecutive
28:02
year despite a 30% drop in the deficit to 184,000,000 oz
28:07
declines and investment, OK, what did we just talk about?
28:11
Why investment is so important? Declines in investment jewelry
28:15
and silverware demand were offset by strong industrial
28:18
demand. But we know that there's a
28:21
potential that this investment demand could be taking off,
28:25
especially industrial demand, especially from the solar sector
28:28
with limited supply growth. The supply demand grab gap is
28:32
forecasted to increase by 17% in 2024.
28:37
Look at this. I wish you guys could see this a
28:40
little. Can I zoom in on this?
28:43
I don't know. Yeah, hold on a second.
28:44
Let me see if I can zoom in, make this a little.
28:48
There we go. Nope, it's not letting me do it.
28:51
Gosh darn it. OK, here we go.
28:55
I can zoom in on this. Here we go.
28:58
OK, so this is a graph that shows total supply.
29:03
And this goes back to we go down here.
29:06
Starts in 2000, about 10 years. OK.
29:09
This white line right here is the total, where am I there we
29:17
are total supply of silver. This is all the silver and this
29:21
is the mining production. This is coming from all the
29:24
mines in the world, OK, 900 million right there.
29:28
We're down to around 800 million now.
29:30
And then this gap that goes up to total supply, that would
29:33
represent like recycling, that type of thing.
29:36
What this chart shows, OK, look at the bottom electrical.
29:41
Look how that's gone up. OK, that physical investment
29:45
demand hasn't really gone up. This is like like a like a like,
29:49
it feels like we're underwater when we're looking at this.
29:52
There's some buried treasure down here.
29:55
Physical demand is really, you know, not as a whole, not gone
29:58
up. Electrical has gone up.
30:01
Jewelry demand kind of fluctuates about the same other
30:04
industrial brazing, silverware, photography.
30:07
But what we want to look at and what I think is, I mean, this is
30:11
incredible when you look at this is the fact that for the last
30:15
what, four or five years? Let's go down.
30:17
Hopefully you're not getting dizzy here.
30:18
Yeah, since about 2021, this is the amount of total demand when
30:24
you add those all together has so far exceeded the total
30:29
supply. Remember, OK, that's 1.2 million
30:35
oz over there on the left hand side.
30:37
Imagine if we add another 200 million on top of that if
30:42
investment demand were to go up by 200 million oz, right?
30:46
If we hit this big inflation, it could be crazy guys.
30:48
It could be a very interesting scenario for those of us who
30:55
hold physical gold and silver. And what about this?
30:58
This came from our friend, one of us basement dwellers.
31:02
Just a quick demonstration of how like everywhere we look,
31:08
there are new uses for silver. This comes from Germany PV
31:15
magazine Grid, party grid parody.
31:17
I'm sorry, launches a modular solar carport.
31:21
And doesn't this make sense? Says the German PV system
31:24
provider said it's new solar carport is an ideal solution for
31:27
shopping centers, supermarkets or DIY stores.
31:31
I hate, I don't know about you, but I cannot stand when I have
31:33
to go to Lowe's or Home Depot. I don't know why I just can't
31:36
stand it. It was conceived to operate with
31:39
either standard or semi transparent by facial double
31:43
glass photovoltaic solar panels. OK, does does that not make
31:48
sense that in big parking lots where there's clear sunshine
31:53
coming down that they, I mean, there's a lot of benefits.
31:56
Number one, it's generating electricity that feeds into
32:00
electric cars #2 it's also shading the cars, right?
32:04
Obviously, it's absorbing a lot of the sun UV rays.
32:07
It just makes sense. And on top of it, when we look
32:10
at this, what is there 123-4567 by?
32:14
There's 28. That's probably about a kilogram
32:18
or let's say 20 oz, OK, 2/3 of a kilogram of silver.
32:23
I could see those. I mean, even now when we go to
32:25
Six Flags with my kids, they have like EV stations all over
32:30
the parking lot. I could totally see that
32:32
becoming silver is everywhere. Silver is everything.
32:36
All these other big news stories we were going to cover have been
32:39
overshadowed by what I think today was critical news that
32:42
inflation is ruling the day. Let's run out.
32:45
Let's let's be courageous basement dwellers, squat the
32:49
pinbacks and do a quick update. OK, look, this can change, but
32:53
last we checked, we had silver up $0.35.
32:56
I'm going to press the pinbacks magic button and up 37 cents.
33:01
OK, This is a big, a big day for the precious metals.
33:07
Look, guys, we're ahead of the curve, OK?
33:09
We were talking about stuff six months ago.
33:13
That's true now, right? Now we're talking about
33:15
stagflation. We were talking about
33:17
stagflation then. But more and more you're going
33:19
to start hearing more and more people and you're going to say,
33:21
wow, we talked about that in Ron's basement, OK.
33:24
Because number one, we dig a little deeper, right?
33:28
Number two, I'm not speaking about myself.
33:31
I know this from my Google Analytics.
33:33
You guys are a little smarter than the average bears, right?
33:36
And we love our bears, so sometimes being early can feel a
33:43
little bit like being wrong. But I believe that we're in very
33:47
good shape. If you hold silver, if you hold
33:50
gold, if you hold precious metal mining stocks.
33:53
Let's talk about I'm going to talk about channel sponsor first
33:55
Mining gold. Canadian gold developer with two
33:58
multi million ounce projects in Canada.
34:01
Dan Wilton, the CEO just did a recent interview on Kitco.
34:05
You can check that out. The Kitco Mining Channel and our
34:08
friends at Fortuna Mining who this morning announced their
34:13
third quarter solid third quarter gold and silver
34:16
production numbers from their mines in Latin America where
34:20
they have gold and silver mines and West Africa where they have
34:24
extensive and growing gold mining operations.
34:28
Thank you to all the channel sponsors.
34:29
We we appreciate it. Yeah, here's more proof.
34:34
This guy, it's a it's a rare day.
34:38
This guy is losing his influence, I guess you would say
34:44
his strength, his power, right? Yesterday, look what I just
34:48
dropped, right? My 110th Oz UK Britannias back
34:53
to Jerome. Jerome Powell is going to be
34:56
faced with one and one option only, and it's going to make you
35:02
very happy. Yeah.
35:05
Who doesn't like being happy that you own silver and gold?
35:08
And that is to print, print, print money.
35:10
We're not even going to waste our time going into the details.
35:14
But yesterday, the big news story was the Fed released their
35:18
FOMC, their meeting minutes from the last meeting they had when
35:22
they dropped rates by half a percentage point.
35:25
And they were they were considered to be hawkish.
35:29
I mean, think about this guys hawkish.
35:31
That means that that that the that the Fed is could could
35:35
could be tightening or swaying more toward the tightening side
35:39
of the pendulum. OK, gold and silver didn't you
35:43
know, didn't are are are are starting to just kind of blow
35:47
off the Fed. It's happening.
35:50
It's a big deal again. I might the the Fed has become,
35:55
we've talked about this number one, the Federal Reserve Bank,
35:58
OK, is no more federal than Federal Express. the Fed and
36:03
Federal Reserve is no more federal than the Fed And the
36:06
Federal Reserve is a privately owned bank owned by other banks.
36:10
OK. That my friends is an absolute
36:14
fact. Now they are they are losing
36:16
their potency, I guess is the is the best way to say it, right.
36:21
Gold and silver are starting to kind of laugh at the Fed like,
36:25
OK, whatever Fed, you know, I mean it's real, it's the
36:28
reality, it's the world we're living in right now.
36:32
Again, you're ahead of the curve.
36:34
OK oh, let's talk about gold. Talk about silver investment
36:38
going up. This from Reuters tells us
36:41
something even as interesting, if not maybe a little more
36:46
interesting about gold because Reuters, Look it up there,
36:52
Betsy. There's silver up $0.41 in the
36:55
futures market, 31 dollars. Come on, 32.
36:58
OK Reuters. Gold ETF's registered a fifth
37:02
month of inflows in September. That's according to the World
37:05
Gold Council. The global Physically back Gold
37:11
ET gold ETS registered their 5th consecutive month of inflows in
37:15
September as North America listed funds added to their
37:19
holdings. The World Gold Council said that
37:21
on Tuesday, today's Thursday gold ET FS are up OK after three
37:27
consecutive years. This is the the interesting
37:29
thing. OK, here it is.
37:33
After three consecutive years of outflows against a backdrop of
37:38
higher interest rates, the past five months have turned year to
37:44
date net flows in dollar terms to a positive almost $400
37:50
million. OK, guys, we made it.
37:55
We made it through the storm. OK.
37:57
We are in a new paradigm for silver and gold, no matter how
38:01
you want to slice it or dice it. If you were in silver and gold
38:05
over the last three years, you know what I'm talking about.
38:08
If you're new to the party, congratulations, you have great
38:11
timing in my opinion. I could be wrong.
38:13
Don't make any financial decisions based on anything.
38:16
This is just purely for entertainment purposes.
38:18
Although I'm right a lot more than I'm wrong, although I am
38:22
often wrong, like I was yesterday about the CPI number
38:25
today. Nonetheless, this is a big deal
38:27
that you've survived the last three years.
38:30
You got to you, you, it's so critical that you understand
38:37
that we understand that we take a step back.
38:39
We take a we take a look at this from the outside.
38:44
The silver price and the gold price performed exceedingly well
38:51
in an environment that was not supportive, not conducive,
38:56
however you want to say it. That was working against the
39:00
silver price and gold price and that went on for the last two or
39:04
three years. I want you to think about, have
39:08
you ever ridden a bicycle? I hope so, right?
39:13
Most of us have. If you've ever ridden a bicycle
39:17
and you're riding your bike down a perfectly flat Rd., but
39:20
there's a 20 mile an hour wind blowing in your face, you know
39:25
it slows you down. It you have to work against that
39:29
in that my friends, riding the bicycle into a 20 mile an hour
39:33
wind is what the gold and silver price did up until about 5678
39:40
months ago. It's got, you know, you can't
39:41
pin it down. I said back in December that the
39:43
that the tide had turned. But now I want you to think
39:48
about the gold and silver price. That same bicycle, that same
39:52
flat piece piece of land. But right now, I'd almost say
39:57
there's a five mile an hour tailwind for the gold price and
40:01
the silver price. Things have changed.
40:04
It's real. It's happened.
40:06
OK, it could change back. We never know, right?
40:09
There's no way to definitively predict the future.
40:12
But if we have calculators, do you have a calculator?
40:15
OK, right. Go out to the US step clock.
40:20
Does your calculator work here? Let's go.
40:24
It's our daily trip. Well, we got to check on the
40:26
dollar to silver ratio. Boy, I got in a lot of trouble
40:30
for my 700 to 1. So I got in a lot of trouble
40:34
guys, because I said $700.00 silver.
40:38
But I'm going to show you in a second.
40:39
We're going to, we're going to go check on that.
40:41
OK, Look, here we are. It's almost time for the big 35
40:44
trillion, 700 billion party for the US national debt.
40:51
But if your calculator works and you and you can you see this
40:54
being 50 trillion, I can in the next 5 to 10 years, maybe
40:59
sooner, Maybe I'm wrong, but I can definitely see that being 50
41:02
trillion. If you come down here and you
41:05
think about 50 trillion and like let's say let's say 6% interest
41:11
rates, that would make this number 3 trillion per year.
41:16
Very. Something very interesting.
41:18
Two things, right? This number, I go over this too
41:22
often. Stay with me.
41:24
This interest expense which we get nothing for, that feeds into
41:28
the budget deficit. The budget deficit feeds into
41:32
the US national debt. It gets bigger.
41:34
It makes this get bigger. It's a doom spiral, OK?
41:38
It's an absolute doom spiral. But what's interesting, you may
41:44
not know this, the US national debt breaking news, I read this
41:48
yesterday, 70% of that 35 trillion is the result of
41:53
interest expense that's been accrued over the last probably
41:58
20 or 30 or 70%. So 2020 trillion, 21 trillion,
42:04
22 whatever. 70% of of 35 trillion is what it'd be 21.
42:09
That almost 25 trillion of it is because of interest is because
42:14
of interest expense. Think about that.
42:17
OK, and so this interest expense that we're paying every year, we
42:21
don't get anything in return for that 2 thirds 70% of the
42:26
national debt is because of a crude interest expense.
42:30
You got nothing, nothing Unicorn fart dust, make believe paper,
42:34
whatever you want to call it. It's astounding.
42:36
All right, let's go over. Last we checked, we were at
42:39
seven O 3 and the jeez, here we go guys.
42:44
The fun never ends. If you see my finger, we're now
42:46
up. The dollar to silver ratio is
42:48
now up to 708. Yes, that means that for each
42:52
and every one ounce of silver. Think about that.
42:57
Throughout the world, there are people toiling, toiling in mines
43:04
underground, in harsh conditions, digging up silver
43:09
ore, processing the silver ore. It's a hard thing to do.
43:12
That's what makes silver right here, here.
43:16
Like, you know what? Let's pull this up.
43:17
Let's all say hi to our good friend coin shop Chris.
43:20
He sent me that early in our relationship and it really
43:24
definitely cemented this silver. It's one ounce of silver.
43:29
Somebody had to toil and work to get this out of the ground.
43:33
All that energy is stored in that silver.
43:36
But throughout the world, people are toiling maybe there's about
43:41
what 800 million ounces of silver they're going to be
43:43
produced this year. That number is going down every
43:46
year. We looked at that chart earlier.
43:47
That's a fact. OK, 800 trillion with, I'm
43:51
sorry, 800 million with an M 1,000,000 ounces of silver for
43:57
but for each one, think about this.
44:01
Here's the Buffalo side for each one of those that's being
44:05
produced each year in the entire world.
44:09
Your government, if you're an American, right?
44:12
I'm an American. Where is it?
44:13
There it is myself waving flag, right?
44:16
Your government is creating 708 dollars through the M2 money
44:22
supply that alone. Now I'm not saying that means
44:24
that silver that although that means silver should be $700.00
44:28
per oz. But I begs the question, doesn't
44:31
it guys? Doesn't it beg the question like
44:34
what if we still were using these things, silver
44:37
certificates and for each one of these that was printed?
44:43
Come on, focus, there we go. For each one of those that was
44:48
printed, there had to be silver to back it up.
44:51
I don't think we could have a $708 to silver ratio.
44:56
That's absolutely incredible. OK, So we got gold, gold and
45:00
silver investors. The Western investor is coming
45:04
back. Even the Costco dads are joining
45:06
in, right? OK, That's great.
45:08
Right. OK, what we really want to see
45:11
are the Costco dads turning into the big online bullion dealer
45:15
customers. I you know, I just would
45:17
recommend if you're a Costco dad or mom, right check out our
45:20
channel sponsor Pembex. Nonetheless, this is great.
45:24
This came from another basement dweller.
45:27
You guys are the the best. This came from our friend Tim
45:30
Tim Zub. He's actually been on the
45:32
channel before you sent me this yesterday.
45:38
This says portfolios without gold.
45:41
This means like if you have your wealth and you have no gold and
45:44
look at these people are driving down the down the street and
45:46
they have their seatbelts around their neck, right?
45:49
Like if a crash happens, these people are in very, very bad,
45:54
very, very bad shape. Let's briefly touch on, let's
45:58
briefly touch on the state of the US economy because we are
46:02
armchair economist and what do we learn there?
46:06
OK, Well, we just learned that US bankruptcies hit their second
46:10
highest level in 14 years. US bankruptcy bankruptcies hit
46:16
512 year to date, the most since 518 that occurred during the
46:22
COVID crisis of 2020, OK, outside of 2020, this was the
46:27
second highest number of bankruptcies since 2010.
46:31
But everything is strong. How strong?
46:33
And this came from global market investors, right?
46:37
Those are the bankruptcies by a year.
46:39
Let me let me zoom this down so you can see it guys.
46:42
Things are not good. I mean, the Bass Pro people
46:47
shoot the Bass Pro people down in Southern Missouri are
46:50
shutting down. Their are slowing down their
46:52
production of bass boats. That'll tell you that things are
46:56
not good in the US economy. But look at this chart.
46:58
They got circled right year to date through September is the
47:02
blue. There we go, Right.
47:05
Only 2020 and we got to go all the way back to 2010.
47:09
That was after the GFCI. Suspect that this number will
47:13
continue to grow up. I go up.
47:17
I also suspect that I'll see you back here again in the basement.
47:22
It's a big deal. Thank you.
47:25
Thank you. Thank you.
47:26
Did I miss any? There were no super chats.
47:28
That's fine. That's great.
47:30
Make sure I didn't miss any super chats, but I don't want to
47:33
miss you next time. So please subscribe to the
47:36
channel that does help get the word out to more people.
47:40
Be good to yourself, right #1 take care of yourself.
47:44
Be nice to yourself, it'll help you be nice to other people.
47:48
Thank you to all the moderators. Thanks to you for being here.
47:51
All right guys, and I will see you next time.
47:53
Have a great day.