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🎯 Silver Price & Gold in Crosshairs: Federal Reserve's Shockwave Hits Hard! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Hey, I understand it can be confusing being a silver, gold,
0:05
precious metal mining stock investor, but there's a couple
0:09
things we can look at, a couple big clues that can give you some
0:14
solace, give you a good warm feeling because our silver and
0:18
gold right now in the crosshairs of the Federal Reserve.
0:22
We're going to look at some information we're going to get
0:24
this week from our friends at the Federal Reserve.
0:28
And it's very interesting how this week will play out in
0:32
regards to the Fed. It's a big clue as to what we
0:35
can expect as we move into the remainder of the year.
0:39
And this promises, guys, doesn't it feel that way?
0:44
This promises to be a very tumultuous year.
0:48
We got big. Data out this morning and
0:50
another big clue. We're going to look at the big
0:53
clues. We want to feel good about our
0:56
decision to invest in silver, to invest and in gold.
1:01
And this morning we got another big clue why.
1:05
Maybe, or very likely I should say, we've made a wise decision
1:11
and tomorrow we're going to get even more information.
1:13
The big inflation Report the. Biggest.
1:15
News event in the. History of the Universe.
1:19
If you listen to CNBC and the other mainstream media outlets,
1:23
we'll talk about what to expect with that.
1:25
But we did get a major news story this morning and a massive
1:30
clue as to the fact I believe, do you believe that the tide has
1:36
turned? We are in a new paradigm.
1:39
Look, we've been saying this since December of last year,
1:43
mid-december, after the Fed meeting, I said game over.
1:48
New world, new paradigm for the silver market, for the gold
1:53
market, for the precious metal mining stock markets.
1:56
I understand basement dwellers, right?
1:58
You know, I understand. You're always welcome here.
2:01
I understand if you don't agree with me, #1.
2:04
I also understand because I suffer from this myself, really
2:07
fully believing that it's happening.
2:10
But it is happening. And what did we learn this
2:13
morning? Let's go out and take a look at
2:16
a very interesting article I. Found a new.
2:18
Website I'm going to share with you guys almost by accident.
2:23
No, I do not want to sign up, not now.
2:26
This is a website calledbarchart.com.
2:28
I'm actually going to be interviewing this like guru
2:31
technical analyst later today and I went to check out the the
2:35
website of bar chart which is the company that he works for.
2:38
He may own it, I don't know. I'll find out when I talk to
2:41
him. But none the less, this is a
2:43
cool website with some really great information, including
2:46
this article. Wholesale Prices.
2:49
This was the big breaking news. Oh, my gosh, Can you guys, Can
2:53
you believe it? My friends, inflation's not
2:56
under control because wholesale price increases accelerated in
3:02
April as inflation remains sticky.
3:06
Oh, interesting. Now we're gonna, we're gonna,
3:08
we're gonna talk about this briefly, but we're gonna talk
3:10
about the real meat embedded in this news and why it is so ultra
3:17
critical to us as silver and gold investors.
3:20
US wholesale prices rose sharply last month, a sign that the
3:23
inflation pressures remained stubbornly high after three
3:27
elevated readings and consumer prices to start the year.
3:31
Blah, blah blah blah, blah. OK, so let's, we've established
3:36
that fact, but that's not the important part.
3:38
The important thing going on right now is that inflation is
3:43
not under control, number one. But even more important guys,
3:49
nine months ago, a year ago, right when we were younger
3:53
basement dwellers, we weren't quite as knowledgeable
3:55
necessarily as we are now. News like this in the old
3:59
environment high inflation would have bombarded would have
4:04
torpedoed the gold price. Gold should be down 40 or $50
4:10
under the old regime. But we are in a new paradigm in
4:15
the fact. Let's go check.
4:17
I guess we need to check. I may be speaking out of place
4:21
could be making a massive fool of myself.
4:24
Let's check on the gold price. Gold is up.
4:28
Thank you. Pimbex $12.00 per oz.
4:30
Silver up $0.30 per oz. Guys this is so big for us to
4:35
understand. Had this news of high inflation
4:40
had it if this was one year ago, May the 14th of 2023 and we were
4:46
talking here in the basement. We said well guys, here's here's
4:49
what I, here's what I would have been saying to you and this is
4:51
and I'm This is why this is so important cause a year ago I
4:54
would have been saying well guys, the gold price is down $38
4:58
right now. That's because inflation's still
5:01
high, and that means the Fed's going to have to have to raise
5:03
rates. That's the old world.
5:06
The new world that we're living in right now is one that
5:09
recognizes that the Fed can't really fight inflation.
5:15
I know you like when I whisper to you, because that's the good
5:18
news. I'm gonna.
5:18
I'm gonna whisper that in your ear again, and I won't say it
5:22
again. The whole video.
5:24
The Fed can't really fight inflation.
5:26
They're gonna put on a big show and we're gonna talk about that
5:29
because our silver and gold in the crosshairs, but they can't
5:32
really fight inflation. And guess who figured that out
5:35
besides you, Buttercup? Guess who else figured that out?
5:39
The two oldest and smartest markets in the world, the gold
5:44
market and the silver market. So now under this new paradigm,
5:50
when we're getting news that should that should result, right
5:54
or would have resulted, people would say, oh, the Fed's got to
5:57
be tighter with their policy and Fed's got to fight inflation.
6:00
They're going to the dollar is going to go up, rates are going
6:03
to go up. Yeah, no, no, that's not.
6:06
Now we're in a new environment where basically silver and gold
6:12
and you and me called the bluff are calling the bluff.
6:15
We've got bright days ahead. We got bright days right now,
6:18
but we're not out of the crosshairs of the Fed.
6:20
And I'm going to show you something that will knock your
6:22
socks off. It's crazy about the Fed here in
6:27
one second. But first, if you decide that
6:30
you want to buy some Silver, Gold, or platinum and you're
6:32
going to buy it online, even if you're going to compare to your
6:36
local coin shop, please consider checking out Pembex.
6:42
Compare what you can get from Pembex because guys, at the end
6:45
of the day, you know 100 oz Royal Canadian Mint Bar, A1 oz
6:50
American Silver Eagle. They're all the same thing.
6:53
Pembex is a company that I found I can trust, but even more
6:57
importantly, I get the best prices and the best service,
7:01
which means I get more metal for my money.
7:02
Do yourself a favor and check out Pembex next time you're
7:06
shopping for a bullion on the line.
7:09
And thank you, Pendex for sponsoring Ron's basement.
7:12
Now let's go. Are we in the crossers?
7:15
Are we gonna, is it gonna be Friday?
7:16
And we're gonna say, well, let's hope that gold can hold 2300.
7:21
Let's hope that gold can help can hold 2200.
7:24
Let's hope silver doesn't drop down to 25 per oz because guys,
7:29
buckle up. Strap in, because we are in for
7:34
a barrage. OK, this is the interesting
7:37
thing though. A barrage from the Fed.
7:39
And I'm gonna show you this in one second.
7:41
But this is the interesting thing.
7:43
The Fed's like a like an army that's that's pretty much used
7:48
up all of their ammunition. the Fed is impotent.
7:52
I said that to my friend Lynette Zhang the other day, and she
7:57
laughed. The Fed's impotent, OK, the Fed
8:00
is impotent, not important. Impotent.
8:05
I can see Jerome over here next to me in the box shaking.
8:08
He doesn't like when I say that. So let's go check this out.
8:11
This will this will knock your socks off.
8:15
Hold on to your socks. Where is it?
8:17
Here it is. And boom.
8:20
This is from our friend Kevin Gordon, the one and only Kevin
8:23
Gordon. And he gives us This is what
8:26
goes on this week, OK? This is this is so sad.
8:31
This is another major, major key, a major clue to us what's
8:36
going on. When this is big news, This
8:39
means that the Fed has lost control when the Fed has become
8:43
more of a This is Iran's basement exclusive secret public
8:48
relations firm. Yes, we're the first people on
8:51
in the on the Internet that ever said the Fed is more of a public
8:55
relations. Firm than a bank.
8:57
Right. They're supposed to be a bank if
8:59
we were. Still, on the gold standard and
9:01
silver standard, we wouldn't care about the about the Fed.
9:04
They wouldn't even be speaking. They'd be doing their job as
9:07
bankers. They'd be comparing how much
9:09
gold and silver they have compared to the amount of paper
9:12
Unicorn fart. Not.
9:13
They wouldn't be Unicorn fart dust paper claims on that gold
9:16
and silver and making sure that they reconcile properly.
9:19
And America's middle class would be in much better shape.
9:22
Right. We wouldn't be in all these
9:24
countless wars. But I digress.
9:26
Instead, we're living in a Unicorn fart dust world.
9:30
Paper money printing. We can print.
9:33
It's the modern, it's Keynesian economics.
9:36
It works. It's it's happy land.
9:38
It's fantasy land. Then that explains to us why,
9:42
number one, this is even happening.
9:45
I'll read through the list for you in one second.
9:47
But #2? That it's important or or
9:50
perceived as being important. Look at the end of the day,
9:54
guys, it's not important. Remember what we talked about?
9:58
Silver and gold had figured this out.
9:59
But let's just go through this quickly.
10:02
This is the Fed. OK, Today Cook speaks later
10:06
today. Oh, Chairman Powell speaks.
10:09
Then we got Kashkari on Wednesday, Bowman on Wednesday.
10:13
Thursday we've got Fed's bar. Fed Harker.
10:17
Fed Bester. Friday.
10:19
I'm sorry. Thursday.
10:20
Bostic as well. Friday Waller.
10:22
Has anybody seen Waller? Where's Waller?
10:25
We should all we should adopt him as our favorite Fed
10:28
governor. Fed Waller.
10:30
Mr. Waller, welcome to the basement.
10:32
And then on Friday we have daily what AI don't cuss on my
10:38
channel. Sorry, I almost made a mistake
10:39
there. What a joke.
10:41
What an absolute epitome of a horrible joke, right?
10:48
Yeah. Here.
10:50
Here. Where is he?
10:51
There. What a joke.
10:54
Huh. What a joke.
10:56
Joke. Time.
10:57
And no, it's OK to put him down because he doesn't.
11:00
Actually, he's not an actually government official, right?
11:03
He works for a privately owned bank that somehow hijacked your
11:07
money. Sorry, I digress.
11:12
That's what's going on with the Fed.
11:14
Are we in the crosshairs? That's the big question.
11:17
What are these governors going to say?
11:19
What are they going to say? What do you think they're all
11:21
going to say? Well, we're not going to raise
11:24
or lower rates until we get inflation under control.
11:28
BS Don't fall for it. Don't take it.
11:32
Don't fall for it. OK?
11:34
These are the same Fed officials that three years ago were
11:36
telling you inflation's not a problem.
11:38
I'm not around. We're not going to raise rates
11:40
till 2000. They're full of it.
11:42
Don't fall for it. The reality, the absolute truth.
11:47
And reality is the Fed needs inflation.
11:50
Dirty little secret. Another, you know, another one
11:54
of us basement dweller exclusives.
11:58
The Fed wants inflation. the Fed needs inflation.
12:01
They may not like inflation, but they're also, This is critical
12:05
for you to understand. Going to put up this big front
12:08
that, Oh no, we hate inflation. We're fighting inflation.
12:11
We're going to get inflation under control because we care
12:14
about the middle class. Wait till you see a chart in a
12:17
little bit, right? Which will, Which will anger you
12:21
and angers me, right? If you're like 9 out of 10 other
12:25
people, and this one comes from our friend Peter Granich, will
12:28
show you in no uncertain terms that the Fed doesn't give two
12:33
toots about you. Unless you're like a guy with
12:37
$20 million plus OK, then the Fed cares about you, then the
12:42
Fed's looking out for you. But if you're an average person,
12:45
the Fed doesn't give two craps about you.
12:48
Sorry I said the C word. I say it once every live stream.
12:52
And I'm getting very mad. Because you know what?
12:56
And then we'll move on. The what?
12:58
Really. What really gets my goat is that
13:00
nobody else understands this. Americans are angry, right?
13:04
Isn't that the general consensus?
13:06
Americans are mad. Americans are mad.
13:09
They don't know why they're mad, right, They don't.
13:11
But they are mad. And I'll tell you why.
13:15
And it really gets my goat, because only like one in a
13:18
hundred of us understand what they they're They're mad because
13:22
they got a screw job over the last few decades.
13:26
If you're if you're one of the 99 out of 100, you got a screw
13:30
job. But they don't realize it.
13:32
They don't understand. They just know they're mad.
13:34
They know their life. Right.
13:36
Like the guy yesterday who says, oh, I invest my money in gold.
13:39
He's 33 years old and he said I invest in physical gold because
13:42
my during my entire life, nothing has gotten better.
13:48
And I do you get it? Do you understand?
13:51
They're closing Red Lobster. Oh my God, I'm done.
13:55
I quit. I gotta run to Red Lobster
13:58
before they shut it down. Get some waltz shrimp, right?
14:01
I used to like Red Lobsters, like everything else.
14:04
I mean, that's what people are mad about.
14:06
Even Red Lobster became cruddy. That's why they're shutting
14:09
down, right? Susie and I used to go to the We
14:11
called it the big. RL When we before we had kids on
14:14
Friday night, we go to the big RL and the big seafood feast
14:18
every once in a while. Not every Friday, maybe once a
14:20
month anyway. It was, you know, it was a.
14:23
Little expensive, but we go to the big.
14:25
RL. Now.
14:28
Right. It's it's like, where's the
14:31
food? I want more than biscuits and
14:33
salad. What did they try to fill you up
14:36
on those biscuits? By the way, this is not a
14:40
cooking show, but I did buy a box of those biscuits and cooked
14:43
them over the weekend at home and they were OK, but they
14:46
weren't quite as good as at the big RL.
14:48
So if you want those cheddar biscuits, you better get there
14:50
before they close up. I'm sorry.
14:52
That's why people are mad. They get to my goat.
14:54
They don't know why they're mad, but everybody's mad, right?
15:00
But they don't understand, right?
15:02
They don't. And and it's not their fault
15:03
because look, look, I have a degree in accounting from top
15:07
tier university. I work for a BIG4 accounting
15:10
firm for nine months. I'm not a CPAI.
15:13
Want to make sure I put that out there.
15:15
I passed half the CPA exam, but I didn't decide to.
15:19
It's a long story, but I did pass the half that I took.
15:23
I'll leave it at that none the less.
15:26
I have a hard time grasping all this, and I spend every waking
15:30
hour trying to understand it, 'cause it's purposely made
15:33
confusing so that people don't understand.
15:35
I'm sorry. I digress.
15:38
Woo wee. All right.
15:40
Oh, yes. Here we go.
15:41
We're gonna talk about something that's gonna make you mad.
15:47
It's OK that it makes us mad. But remember, you can be happy
15:52
about the fact that you have decided to protect yourself
15:56
with. An.
15:57
Asset that's worked for thousands of years.
15:59
Silver and gold. Are we doomed?
16:02
This was a great my good friend Peter Grandich.
16:05
Look, Peter Grandich, right? The Wizard of Wall.
16:08
The Wizkid of Wall Street when I was in college.
16:11
At that top flight university, which I won't advertise for,
16:14
they'd be overwhelmed with applications.
16:16
None the less, I remember my finding.
16:18
I was like 1989 talking about Peter Grandich.
16:21
Right now he comes on my channel here in the basement.
16:24
He has an awesome blog. I want to show you something.
16:27
You want it, you want. This will make you mad, mad, mad
16:31
and scared. So if you don't want to be mad
16:33
and you don't want to be scared, like Coin Shop, Chris always
16:37
said go watch Roadrunner cartoons.
16:39
But today guys, I'm sorry. We are going to get mad and
16:42
scared. Make sure I got this turned on
16:45
yesterday. I went through a whole segment
16:47
without the screen on. OK.
16:49
Here we go. This is from Peter grandage.com.
16:53
You can sign up there. I'd recommend you do it.
16:56
I have no financial interest in recommending that, but it's a
16:59
great blog and Peter tells the story.
17:01
Ivory tower residents Ivory tower residents don't live in
17:06
the real world. And there's Buzz Lightyear
17:09
saying there's a world outside of the Ivory Tower.
17:13
OK, the don't worry, be happy crowd that makes up much of Wall
17:17
Street and financial media live in an ivory tower when it comes
17:22
to the harsh economic, harsh economic, social and political
17:26
realities most Americans reside in.
17:30
Is that you? Yes, that's me, right?
17:33
I'm an average. I live right in the middle of
17:34
the country. Probably average wealth.
17:38
I mean, you know, average range, right?
17:41
Because of this, many investors are not receiving objective and
17:45
realistic advice and it won't be long until it bites them where
17:49
their where the sun doesn't shine.
17:51
People that just are listening to what the mainstream.
17:54
I believe this is what Peter's saying.
17:56
The mainstream financial industry right?
17:58
That they don't even realize what they're investing.
18:00
But this is what this guy's this is madding.
18:04
This is a tweet from Luke Meekick.
18:07
He says, Quote. It's a small club and you ain't
18:10
in it. All right, This shows wealth,
18:13
OK, from 1962 through. Oh, this is only through 2016.
18:19
Oh, my gosh. OK, Well, I'm sure that this is
18:23
even crazier, but this shows how the top 1% continue to acquire
18:31
all the world's wealth, right? And it's getting harder to be an
18:36
average American. And if you go down here, I just
18:38
want to read through. I thought this was the best list
18:40
ever of articles that Peter linked to.
18:45
This is deranged. Janet Yellen says Americans.
18:49
Janet Yellen. Hold on a second here.
18:51
Are you guys still with me? Yes, you are.
18:53
Hold on here. This is what she said.
18:56
We need to do a little visual. And we haven't had her out for a
18:59
few days. She's in a nice box.
19:02
Here she is. Yes, that Janet Yellen.
19:05
Hi, everybody. That's Janet Yellen.
19:07
Oh, by the way, she used to be the head of the Federal Reserve,
19:12
and somehow when she left that job, she got hired to be the
19:17
Treasury Secretary. Hmm.
19:20
I wonder if it is. A.
19:22
An Old Boys and Old Girls Club. Oh, no.
19:26
What do you think? Do you think maybe there's
19:28
something to that? Possibly.
19:30
Just maybe. All right, so Yellen says
19:33
Americans are generally better off despite price increases.
19:38
Hold on. All right, Got it.
19:39
Now I'm paranoid. Polly.
19:41
OK, squeezed for decades. Next article.
19:44
Americans working class finally up against the wall?
19:49
U.S. debt in 2024. A major crisis brewing
19:52
Retirement crisis Are you nearing retirement?
19:54
I'm supposed to be right. Looms as Americans struggle to
19:58
save. America is aging into a housing
20:02
crisis for older adults. They can't afford.
20:05
They can't afford to to to pay their rent.
20:07
They can't afford to pay their insurance taxes.
20:09
Average credit card debt source past 6500.
20:13
The cost of living is so bleak that some Gen.
20:18
Zers genuinely be a fear becoming homeless.
20:23
OK, here's this guy. Forget his name, but he makes
20:25
good videos. Food banks run out of food
20:27
nationwide. Oh my God.
20:31
Even top earning Americans are living paycheck to paycheck.
20:35
Gen. Z and millennials are more
20:36
likely to experience money dysmorphia, Whatever.
20:39
I don't know what that means. It's barbaric for governments to
20:43
deal with aging and poor citizens by encouraging them to
20:47
commit suicide. That has to do with what's going
20:49
on in Canada. More retire.
20:52
More. This is crazy.
20:53
More retirees than ever are in debt.
20:56
Here are tips for paying it off. What do you?
20:58
Think one of the biggest. Tips is go back to work, right?
21:01
Hey, welcome to America. You can just work your whole
21:03
life away so that the top 1% can enjoy a carefree and exuberant
21:09
lifestyle. The other 99%?
21:12
You get to work for your whole life.
21:13
Hey, you can always deliver Big Macs to drunk college kids,
21:17
right? They're drunk.
21:18
Rich college kids. Americans are.
21:21
Americans are increasingly spending more on food.
21:24
Here's why. So here's the situation.
21:26
Here it is in a nutshell. In a nutshell, it's not good in
21:32
the United States of America. Period.
21:36
Unfortunately, right, the Fed is going to play games with you.
21:41
Absolutely. Now we're going to talk about I
21:44
listened to a great conversation last night between my friend,
21:48
Bald guy money YouTube channel. You guys know bald guy's been on
21:52
the channel several times. A lot of you already subscribed
21:55
to him. Know him.
21:56
Great guide, highly recommend you check him out.
21:59
He had a great like 30 minute conversation with the one and
22:02
only Peter Schiff. And you know, Peter Schiff was
22:05
the guy, one of the guys early on that kind of opened my eyes
22:10
to this monetary system, opened my eyes to what's going on.
22:13
And as I was listening, I was writing some things down and I
22:16
want to share this with you because I think it tells us
22:19
right, we know, we know that we're getting definitive proof
22:25
out of the silver and gold markets that we are in.
22:28
Are you feeling it? Do you believe it?
22:30
That we're in a new paradigm, a new environment for silver and
22:34
gold, right? But the other big key component,
22:37
right to to what's gonna happen in the future with silver and
22:42
gold is that the Fed is up a Creek without a paddle.
22:47
And I wanna. I'm gonna read a couple points
22:49
that I wrote down as I listened to their conversation and and I
22:52
think it explains to us. It made it real clear to me just
22:56
the predicament and why we're in this predicament and why it's
23:00
wise. Do you believe right.
23:03
Do you believe it's wise to keep some of your wealth in silver,
23:05
gold, platinum, precious metal, mining stocks?
23:08
OK, if #1 if the Fed really wanted.
23:12
To fight inflation. Remember, gold and silver love
23:16
inflation. They love it.
23:18
It's it is the most lucrative long term environment.
23:22
Paper money goes down. This goes down in value, right?
23:26
This goes away. Paper right that goes.
23:28
Down in value and the value of silver and gold maintain they
23:34
have for thousands of years. And if the Fed really wanted to
23:37
fight inflation, they'd be telling the Congress to balance
23:41
the budget. There's no way under this
23:45
current situation, when we're spending exuberant amounts more
23:50
as a country every year than we're bringing in, we have a
23:54
deficit or a deficit, right? We spend more than we bring in
23:59
that we're ever going to really fight inflation.
24:01
Don't fall for it. Don't take the bait.
24:04
It's not if the Fed really really right, they'd be saying
24:06
hey guys, no more you can only novel idea.
24:11
If you have you, have you ever explored this idea?
24:14
Doesn't the the rules that you're forced to live under?
24:20
You can't print your own money? Oh, you poor thing.
24:24
You can't print silver and gold. We know that, right?
24:27
You're forced to live under a set of rules, right?
24:30
That requires that you essentially spend less right
24:36
then you make if you want to save any money, if you want to
24:38
provide for a a good future, If you're a country, are you for
24:41
your for for you right for on a country level.
24:45
They should be doing the same. Damn.
24:46
Thing. Darn thing.
24:47
Sorry, said the D word Darn thing.
24:50
Right. And they're not.
24:51
So there's no way they're ever, ever, ever, ever.
24:55
Ever, ever, ever. Gonna fight inflation.
24:57
And that means the value of the dollar.
24:59
Goes down and the value of your silver and gold goes up. the Fed
25:02
needs inflation, right? The Prep, I can speak.
25:07
Perpetuate the system. That's a fact, OK?
25:11
And they're all beholden to the system.
25:14
Absolutely everyone wants the Fed to cut rates.
25:17
Everyone. Wants.
25:18
Money to be printed. They're addicted to it.
25:21
Inflation will only be accentuated under this
25:25
situation. The Republicans and the
25:27
Democrats, right? All the Democrats want to do is
25:30
spend, spend, spend. All the Republicans care about
25:32
is don't raise taxes. That's a recipe for massive
25:36
deficits like we're living under right now.
25:38
The dollar's mortal enemy are silver and gold.
25:43
Mortal enemy. Period.
25:45
OK, but it doesn't have to be this way.
25:48
OK. It worked well, right?
25:50
For 180 years to have this country on a gold standard.
25:53
It worked very, very well. OK, maybe, just maybe we can
25:59
make up, right? Maybe they can get back.
26:02
Peter Schiff said this and it's hard to, it's hard to to, to to
26:06
to put this into words. But he said the world will go
26:09
back to a gold standard because of its own self-interest.
26:14
Right. I like to say by default, you
26:17
know, we go back to the gold, silver standard.
26:20
But I also liked how he said that out of its own.
26:22
So most of the world right now is not benefiting from the
26:28
dollar, right? The only country that's
26:30
benefiting from this printing of the dollar is the United States.
26:34
And the world is waking up. The BRICS countries, Brazil,
26:37
Russia, India, China, South Africa, Iran, Saudi Arabia,
26:41
Egypt, Ethiopia, the United Arab Emirates, that's a big chunk of
26:44
the world. They're waking up.
26:47
We don't benefit from the dollar. the United States
26:50
benefits from the dollar. And they abuse that privilege
26:53
with money printing and sanctions.
26:57
Oh. Maybe.
26:58
We want to get in a system outside of the dark.
27:00
Do you think maybe that's why central banks are buying a
27:03
record amount of gold right now? Yes guys, Yes This is why you
27:08
are buying you yes you a record amount of gold because you want
27:13
to be your own central bank. If you want to buy some precious
27:16
metal mining stocks check out First Mining Gold.
27:20
Consider them throw them into the mix.
27:22
Canadian gold developer with two multi million ounce projects in
27:25
Canada. A stock that I personally own.
27:29
Another company you can check out and sponsor of Ron's
27:31
Basement also is Fortuna Silver Right, two regions producing
27:38
gold and silver. Latin America and West Africa.
27:42
They're generating a great deal of cash flow and making some
27:45
very smart financial moves. You can check them out at
27:48
fortunasilver.com. Now, do you want to be your own
27:53
central bank? Absolutely.
27:55
You want to and you want to save yourself.
27:58
You want to save your family? OK.
28:01
We never ever really went off the gold standard.
28:05
This is my thought. OK and silver standard, they're
28:08
they've always been the only thing money wise, money wise in
28:13
this world that are really worth anything you can have.
28:16
You can have temporary mirages where Oh yeah, we got the
28:20
dollar, we got the Deutsche mark, we got the whatever the
28:23
Romans used right when they went off the gold standard.
28:25
But the reality is silver and gold are the only long term real
28:29
store of value. The gold and silver price aren't
28:33
going up because of Americans buying OK yet OK, it's going up
28:42
because the world is buying. What's the big guys?
28:46
What's the big clue? Think about this.
28:48
What's the big clue? Think about it the the gold
28:53
price. The silver price.
28:55
Let's go. Look, this is the big clue.
28:58
This is a biggie. Let's check it out.
29:00
Let's see if gold's still up. It could be down.
29:03
OK, it could be gold's up 17. Dollars.
29:06
Woohoo. Thank you, Pinbex.
29:09
Silver up 41 cents. This is the big, big key,
29:14
critical thing for you and me to remember and to understand.
29:19
Besides the fact that we're in a new paradigm for the gold price
29:22
and silver price. We had the PPI inflation taking
29:26
off. Gold and silver are up.
29:27
OK, we are. It's cemented in my mind in a
29:32
new paradigm. But the big, big key thing to
29:36
remember, right Gold and silver aren't going up because you're
29:41
cohorts. You're your own central bank.
29:43
I'm my own central bank. But your neighbors are not their
29:45
own central bank. They're like paper dollars.
29:48
Go ask em. Go knock on your.
29:49
Neighbor's door. Right now, walk out.
29:51
Well, don't leave the lies from, but when we're done, I want you
29:54
to go to your neighbor's house, knock on your door and say, hey,
29:56
there's this guy named Ron from Ron's basement.
29:59
You've never heard of them because you have no clue about
30:02
what real money is. OK, but ask them.
30:05
Say, are you your own central bank?
30:08
And they're gonna they're gonna look at you and say, you know, I
30:10
always thought you were a little weird, but now you've cemented
30:13
that in my mind because people look at us like we're nut jobs,
30:17
right? Yeah, because we're we're we're
30:18
the black sheep, huh. Right.
30:21
We're we, we're very popular in India and China, right?
30:25
And the BRICS countries everywhere else in the world.
30:28
But here, no, nobody realizes, right.
30:31
The price of gold and silver are this.
30:34
Is the big key not going up because of what's going on here
30:39
in the United States of America? Right, St.
30:42
Louis, MO. I can go buy gold and silver.
30:45
I can drive down the street. We can hop on.
30:47
I'd recommend going to Pendeks, but nonetheless, we can buy gold
30:50
and silver. No gold and silver are going up
30:54
because the world and guess what?
30:57
The world is bigger and more powerful than the United States.
31:02
Gold and silver are becoming the new hegemony.
31:07
OK, Hegemony. Hegemony.
31:09
Hegemony. Hegemony.
31:11
I can't say the word. Susie's going to kill me when I
31:13
go upstairs. Hegemony.
31:16
That's gold and silver. They always have been, right?
31:19
But what did Peter Schiff say? The world will go back to the
31:23
gold standard because of its own self-interest.
31:27
Everybody's self interested. That's why, to me, it's a big
31:31
honor when you join me here in the basement.
31:33
So thank you for being here. Hey, let's give it a thumbs up.
31:36
When I hear from Susie that we have 200 thumbs up, I'll ring
31:39
the bell as a sign of love for you, my fellow basement
31:43
dwellers. OK, if you're waiting.
31:45
OK, here. Who's this guy?
31:47
Scott. Williams, are you still on here?
31:49
Scott Williams, I'm searching you out.
31:51
Where are you? Scott Williams?
31:54
So I was sitting here meditating.
31:56
Before I went on to my live. Stream, I had a couple of
31:59
minutes and I just saw a comment go by and I'm just joking,
32:03
Scott, we love you all, you guys.
32:05
Everybody's entitled to their own opinion.
32:07
That's how we learn is from each other.
32:09
And this was not even a bad in any way comment.
32:11
We love you Scott, but Scott Williams put a a comment on
32:14
before the live stream said I was hoping to get $22.00 silver
32:19
this summer, right? Doesn't look like that's going
32:21
to happen. I hope that you don't get to buy
32:24
$22.00 silver. Scott, no offense, but I'm going
32:28
to tell you what if we do get 20, if we get $22.00, Coin Shop
32:31
Chris is always calling, not always.
32:34
And I love coin Shop Chris, but I talked to him, You know, we're
32:37
still buddies. And he's always like Ron, you
32:39
need to buy more silver. Ron.
32:41
Buy nickels. Buy silver nickels.
32:42
Buy this. You need to get more silver.
32:44
I'm like, I got enough silver. OK?
32:46
It's all stored away safely. I got plenty of silver.
32:50
I said if at this point right, silver goes to $22.00, are you
32:55
going to buy? Let me ask you if you would buy
32:57
silver Hand over fist. Only Hand over fist.
33:02
Hand over fist. Hand fist.
33:06
If we got $22.00 silver, OK, put 22 in the comments.
33:10
We haven't done this for a while.
33:12
I'm not participating like I used to.
33:14
Enter. Hold on.
33:16
There we go. I would be buying silver Hand
33:19
over fist. But what did Peter Schiff say?
33:21
Peter Schiff when he was talking to Bald Guy from Bald Guy Money,
33:24
huh? We love the bald guy.
33:29
Maybe. Maybe someday Bald Guy and I
33:31
will share with you the story about how we met.
33:33
Anyway, if you're waiting for a crash to buy gold or silver,
33:39
silver or gold, you're really hoping, think about this, that
33:43
the dollar goes up in value, real value.
33:48
OK, that's not going to happen. And I'm not quoting anyone here.
33:51
I'm just, these are kind of my notes from having listened to
33:53
them. The dollar might be more
33:56
valuable relative to the yen or the euro, but not in real value.
34:02
How important is this? Is what I say that we compare
34:05
the value of gold and silver against other commodities, Do
34:10
you really think the dollar, given what's going on right now
34:14
in the world is going to become more valuable?
34:17
I don't think so. Wait till you hear about what
34:20
India's doing with silver, OK. Little hint that's going to come
34:23
a little bit later here in the show it it's not going to
34:26
happen, OK. We want to compare the value of
34:30
silver and gold to other major commodities, OK.
34:34
If the United States was going to do something about this
34:37
massive predicament that we're in, fiscally and monetarily,
34:41
they would have done it a long time ago.
34:43
Now it's just a matter of time to watch the dollar lose value,
34:49
you know, And Peter Schiff said something that I've, I've, I've
34:52
said myself many times, Is the dollar going to become worthless
34:56
or will the dollar just become worth less?
35:00
Both. Which do you think?
35:04
Did anybody put 22? It's buy anytime now.
35:07
Yeah, that's what you know. But I'm telling you, man, if the
35:10
gold, if the silver price gets $22.00, don't be, don't be part,
35:15
don't be walking up my driveway 'cause I'm gonna be backing the
35:18
truck up, baby. Backing the.
35:20
Could you imagine the opportunity again to buy
35:24
American Silver Eagles for $2526?
35:27
I mean, it would be absolutely crazy.
35:31
Would you buy? I would buy.
35:32
I bought some back in what, February for like 20-6 dollars.
35:36
I'd never bought American, remember.
35:38
I want you to. I want you to remember this.
35:40
How does in the last what 14 months they were selling
35:46
American Silver Eagles for over $50?
35:51
That's what Coin shop Chris told me.
35:53
I asked him this like a month ago.
35:54
I said, hey, right after the little banking crisis we had
35:57
back fourteen months ago, how much were American Silver?
36:00
I knew. I mean, I remember right.
36:02
The premiums, they were over $50.
36:06
OK. If Silver gets to $22.00 baby
36:08
and you can get more American Silver Eagles for $26 at some
36:12
point, I mean, there's still a good deal.
36:13
I don't even, you know, I don't know.
36:15
Let me, let me run out here. I'm just curious.
36:18
Let's see if Pembex has any right now and let's go to the
36:23
American Silver Eagle. Here we go.
36:26
OK, they're $34. Hey, still a lot less expensive,
36:30
man. Silver.
36:32
Wow. What?
36:33
Uh oh, here we go. So now we've got gold up 14,
36:37
silver up 26, still $34, right? For American Silver Eagles.
36:43
I mean, compared to where we were 1416 months ago, right?
36:48
Fifty. Over $50 each.
36:51
I don't know, right? I mean, you know, but.
36:53
But I'm on hold personally. Have you?
36:57
Ever sold silver? I'm going to tell you I here's
37:01
what happens to me every time I want to I buy precious metals.
37:05
And this has been going on for 20 years.
37:08
I'll think maybe I should buy some gold and I'll start looking
37:11
at gold and then I look at silver and then I think about
37:13
the story behind silver and how much more silver I can get for
37:18
the same amount of money. And I always wound up buying
37:21
silver. That's why I own gold mining
37:23
stocks. I own a lot of gold mining
37:25
stocks. But when it comes to the metals
37:28
that I'm going to store off site, it's always been silver.
37:31
And have you ever sold any? Because I've never sold any I
37:34
the. Thought it's a generational
37:36
investment, guys. You know who else thinks of it
37:39
as a generational investment? How about those 1.4 billion
37:44
people not in China? And we'll talk about them in a
37:48
second. How about the 1.4 billion people
37:51
in India? Take a look at this.
37:54
Once again, I got to warn you, it's time to hold on.
37:57
To your socks. Hold on here.
38:00
Where was I? Here it is.
38:02
Oh, it's our friends at the Silver.
38:04
Academy John Little Big John Little.
38:06
One of my favorites, man. Always great information.
38:09
There's a link to the Silver Academy in the description of
38:12
this video. Silver Prices Gained.
38:15
Do you like that 6% last week? And India is buying silver.
38:20
Oh, interesting. Q1 of 2024, more than all of
38:28
2023. That giant sucking sound you're
38:32
hearing? That is not Susie running the
38:34
vacuum upstairs. She'll do that as soon as I'm
38:37
done with the live stream. Is precious metals going from
38:40
the West to the East? Manisha, let's listen to let's
38:44
let's this is interesting. India silver $50.60 dollars $85
38:51
silver But Manisha Gupta is a renowned news editor, CNBC 18 in
38:57
India and thank you Susie. We we got 200 thumbs up guys.
39:01
India's leading English business news channel.
39:05
With her extensive experience and expertise in financial
39:07
journalism, she plays a pivotal role.
39:11
In shaping the channel's coverage of the Indian economy,
39:14
markets and corporate affairs, Gupta's incisive analysis and
39:19
editorial acumen have earned her reputation as one of the most
39:22
respected voices in the industry providing viewers.
39:26
With insightful and well informed perspectives on the
39:29
latest developments in the business world, let's see what
39:32
type of insightful and well informed perspective our friend
39:37
Manisha Gupta can give us on silver.
39:41
Oh, this is the most respected journalist in India.
39:45
What does she say? She tweeted this out.
39:47
She said silver prices gained 6% in the previous week and India
39:52
is buying silver. Look at this guys.
39:54
This is a list of all the years and how much?
39:57
How many tons of silver? India's imported 6002 thousand
40:04
3000. They had a big year in 2022,
40:07
right? All time high.
40:09
Only 3400 last year, but holy moly, hold on to your socks
40:13
because in Q1 of this year we're going to round that up to four
40:18
thousand 3730 tons, 4000 tons. Already in the first three
40:26
months of this year, India has imported more silver than they
40:30
did all of last year. And if they continue at this
40:34
pace, they will absolutely hit a new all time high.
40:40
We're going to have to listen to what our friend that giant
40:43
sucking sound you hear this is their end is precious metal
40:47
going from the West to the East. And why is that, huh?
40:52
Why is that guys? Well, let's go check out.
40:56
Let's go, let's go to Twitter basement run and let's just see
41:04
why here. Oh, there he is.
41:07
We have to say hi to our friend. Everybody say hi to BA Yi
41:10
Jojong. OK, May 14th.
41:15
Yes. The reason why is because in in
41:18
China the price of silver closed at $31.46, right in the futures
41:24
exchange 3142 gold much higher as well 2382.
41:30
Thank you, Shanghai Ghost for your daily reports on the fact
41:35
that the people in China are buying the physical silver and
41:41
gold by the way guys and and and bringing it all from the West
41:46
where we don't care, not us, we care, right.
41:49
Our cohorts don't care and bringing it all over.
41:52
But what else is happening? We've talked about this many,
41:56
many times. The critical fact, right, that
42:00
when we look at silver and gold, we look at platinum.
42:03
We need to look at it also through the lens of a general
42:06
commodities bull market. What about the base metals?
42:09
This is crazy, OK? Because we get news from our
42:13
friends at Reuters. Trading What does this?
42:15
Tell you what is another clue. Trading volume surge as
42:19
investors return the base metals London, England.
42:24
The boom times are back for base metals traders.
42:26
Over 17,000,000 contracts on the London Metal Exchange where I'm
42:30
sure there's no manipulation right?
42:33
Making it an all time record. Woah, back up all time record
42:40
month in outright volume turns expressed in average daily
42:45
volumes. Activity was the second highest
42:48
on record after April of 2018. There is a boom going on right
42:55
now in real assets, right, aluminum, copper, silver, gold
43:03
and it's not going to end anytime soon guys, as we look at
43:09
the big picture, all right, we are in sunny times.
43:13
Do you feel it for the silver price?
43:16
For the gold price? The strength?
43:18
On a day like today, where we get earth shattering news that
43:22
we have higher inflation tomorrow, tomorrow's the biggest
43:26
Newsday in the history of the universe for silver and gold
43:31
investors we could get. Pummeled.
43:33
We are in the crosshairs, right? But they're becoming less and
43:38
less potent with their weaponry. They've they've they've blown
43:42
through all their ammunition. I was going to say that in a
43:45
different way. They've blown through all of
43:48
their ammunition, all right. We're in a new environment for
43:52
the metals prices, yes again. This this is this is.
43:59
Heartwarming for me to be able to tell you this, if we had had
44:02
the news that we got this morning nine months ago, I'd be
44:06
sitting here saying, hey guys, hang in there, look, the math,
44:09
mathematics show no forgiveness on the altar of truth.
44:12
I'm sorry, the gold price is down $45 per oz.
44:16
I know it's challenging, I know it's hard to have faith, but we
44:19
aren't doing that anymore. Now we're saying hey guys, guess
44:24
what Gold and Silver have have woken up.
44:27
Thank you Darren for that super chat super sticker.
44:30
Wow, that's awesome. I forgot to beg for super chats.
44:33
Super chats are always super appreciated because I have twin
44:36
12 year olds that spend a lot of money now every day.
44:39
Anyway. We're in a new environment.
44:41
Thank you, Darren. Welcome to the new environment,
44:44
Darren, and thank you for the Super chat.
44:48
OK, going on. We're going to, we're going to,
44:51
we're going to, we're going to scrape away all the noise, all
44:55
the BS that they try to feed us the.
44:58
Fed. Right.
44:59
Let's. This is, to me, as humorous.
45:03
This is absolutely humorous. I'm sorry.
45:05
I have to show it to you one more time.
45:07
This is humorous. This is noise.
45:10
This is that. This is a sign of a desperate
45:14
institution trying to hold on by their fingernails to the grip
45:20
that they have on the financial world and their grip is
45:23
slipping. OK, their grip is slipping.
45:27
You remember the Wiley Coyote and the Roadrunner cartoons when
45:30
they when he runs off the Cliff and he's out there on the air
45:33
and he realizes and he turns around and tries to run back.
45:37
That's this right here. That was orange letters.
45:40
Kashkari, Bowman. Harker, our good friend Waller.
45:44
Has anybody seen Waller? Where's Waller?
45:47
I want to find out where he's talking.
45:48
Maybe we can go listen to him live in person.
45:51
No, that won't be the case. You know why?
45:53
Because you're not invited to hear Waller talk.
45:56
I'm not invited to hear. I have made an explicit
46:00
invitation to Jerome Powell to join me here in the basement.
46:04
I just had some simple questions for him.
46:06
Right. They don't.
46:07
They're they they don't care about you and me.
46:10
No, you're you're. I don't think I'm gonna be
46:12
invited to the New York Economic Club luncheon where the Fed.
46:17
Where the Fed governors are gonna talk.
46:19
Maybe they will, you know, maybe they wanna.
46:21
Yeah. Yeah, right.
46:22
No, that's not gonna happen. Right.
46:24
That's the situation that we're in right now.
46:28
But buckle up, Buttercup, because even though we're in
46:32
this new environment, that doesn't mean it's just straight
46:36
up, straight up, straight up. No, gold and silver, I believe,
46:41
are gonna go up, up, up, right. But it will be a jagged line.
46:45
It will be a bumpy Rd. We talked about that.
46:49
Well, you know, a year and a half ago when you were down here
46:52
in the basement with me, I said look, you know we will navigate
46:55
these choppy waters of the gold and silver market.
46:58
Back then we really had to believe in the statement
47:03
mathematics shows no forgiveness on the altar of truth.
47:07
But now that we're in this new environment, right, and if that
47:10
changes, I'm going to let you know, right.
47:12
But for right now we, it has been cemented.
47:16
The cement has set right back in December, right when it when
47:20
things started to change the macro environment for silver and
47:24
gold, it was like a freshly poured the the cement had just
47:28
come off the concrete truck. It was sitting there.
47:31
Right now the cement has set. If that changes right, if Jerome
47:36
right or Janet or whatever are successful coming in with a
47:41
hydraulically powered jackhammer and start breaking up this
47:45
concrete, this new foundation which has been laid for you and
47:49
me as precious metals investors as we only try to be our own
47:54
central banks. You're not trying.
47:56
Don't say try you are. I'll let you know.
47:59
Thanks for joining me today. Hey, please check out our
48:02
sponsors Pinbex Pi, MB E xpinbex.com.
48:07
If you want to get some silver, gold or platinum, check out
48:10
first mining gold and Fortuna silver as well and I'll see you
48:13
soon. Thank you.