Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚡$90 SILVER⚡- You Best TAKE NOTE of This! 🇺🇸 (Gold Price Also)

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⚡$90 SILVER⚡- You Best TAKE NOTE of This! 🇺🇸 (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
So many reasons to be optimistic about the silver price, $90.00
0:04
silver. We're going to talk about that
0:06
in this video. Gold 3035 hundred, the future
0:10
looks right, but this morning we are taking it on the chin in the
0:14
silver market. Last I checked, at one point we
0:17
were down $0.80 per oz. Guys, this is volatility.
0:22
I'm going to give you the reasons why in this video.
0:24
We can remain very optimistic on the long term and to us, let's
0:29
say what long terms, maybe six months, a year from now, even 5
0:35
or 10 years out, we're going to look at the reasons why.
0:38
But on a day-to-day basis, a day like today, we are going to have
0:42
volatility in the markets, especially with silver.
0:46
Silver is a widow maker they call it, because the price
0:50
movements can be so extreme, right?
0:53
Who cares why silver's down 80 cents, $0.60, whatever it might
0:59
be this morning. I know there were ADP numbers,
1:02
GDP numbers, all that is short term noise.
1:06
What's important for us, the reason why, right we want to
1:09
stay focused on a more long term basis, be it six months, one
1:13
year, five years or 10 years, is because do we really care what
1:18
the silver price is doing right now, today, If we know, right,
1:23
that a year from now instead of silver trading in a 32 to $34
1:28
range like we've been in for a little while, instead of being
1:32
at the 3234 range, we could be in the 42 to 44 range one year
1:38
from now. That is absolutely within the
1:41
realm of our possibilities, $52 to $54 range.
1:47
What if I told you that at the end of October 2025, silver will
1:52
be trading in a range of 52 to $54 per oz?
1:57
Do we really care what the movements are today?
2:00
Now, obviously none of us. Well, maybe you do, but I don't
2:05
have a crystal ball. But when I look at all, when we
2:09
together look at all the factors impacting the short term factors
2:15
and the long term bigger picture factors, the Max of the micro
2:19
factors that just here in the United States of America and the
2:23
worldwide factors. And when we look at the charts,
2:26
Oh my gosh, guys, we are in, we are in for a fun, fun ride.
2:31
Now look, I could be dead wrong. Don't make any financial
2:33
decisions. Always be responsible with your
2:35
stacking all that great stuff, right?
2:38
But I'm often right. And and when we look at this
2:42
information based on facts, it is very, very encouraging.
2:46
Let's get it out of the way, basement dwellers.
2:48
Oh, by the way, thank you for being here, right?
2:51
You know, hundreds and thousands of people joining your basement
2:55
dwellers. Sometimes I refer as in a loving
2:58
way is buttercup. People don't like that, some
3:00
don't, but that's a term of endearment none the less.
3:03
Thank you for being here. You are the most important part
3:07
of this live stream. This doesn't happen without you
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choosing to be here. So thank you, thank you, thank
3:12
you. Please subscribe to the channel,
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give this video a thumbs up. That'll help get the word out to
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more people and more people means more buyers of precious
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doing a good D 'cause you're helping all these people just by
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giving a thumbs up. Learn about precious metals and
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they're protecting themselves and their family.
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Doesn't that feel good? Super chance, super thanks
3:37
PayPal donations never expected, always appreciated and please
3:42
never give anything that you can't afford.
3:43
Let's go out and take a look at the latest take your high blood
3:48
pressure medicine. I'm taking mine because we are
3:51
going to go out the pin backs here channel sponsor and we are
3:55
going to check on the silver and gold price.
3:58
OK, I'm going to press the pin backs magic button and come on,
4:04
it's down $0.69. What crazy activity.
4:07
We're down 2% in silver. Gold is positive, so I think
4:11
we're going to focus on gold, platinum and Palladium really
4:14
taking it on the chin today. There's been a big run up in
4:17
both of those metals. Silver taking it a little bit,
4:21
but gold isn't that strange. Still up for the day.
4:24
I want to say thank you to channel sponsor Pimbex Pi MB EX
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online bullion dealer. What can they do for you?
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That's what I've experienced with PMBEX.
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I'll never tell you what to do, but I will say that next time
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you're thinking of buying some silver, gold or platinum group
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metals, you may benefit from checking out PMBEX, this
5:02
article, which is going to point out to us $90.00 silver.
5:06
OK, this is from Kitco from Hubert Muhlman.
5:10
All right, this is the chart. We're going to look at the
5:12
charts, the reasons why we can be optimistic about silver gold.
5:15
We're going to look at the charts.
5:16
We're going to look at the USA domestic reasons and the big
5:19
worldwide big picture reasons. Thank you, Susie.
5:22
OK, so it says this is from Kitco Hubert Muhlman.
5:25
At these levels, buying silver is like getting in at $5 per oz
5:32
in 2003. Hey, that sounds like a good
5:34
deal, doesn't it guys? Think I would take $5 per oz
5:37
silver. He says the current setup on the
5:40
silver chart is a lot like the start of the silver bull market
5:44
of the early 2000s. Remember, silver went from under
5:47
$5 per oz all the way to $50.00. In those days, silver was under
5:52
$5 and considered cheap. The current bottoming pattern
5:57
around 2. The current bottoming pattern
5:59
from around 2014 to now is very similar to the early 2000s
6:05
bottom bottoming pattern. See the chart below and in red I
6:09
put my my notes that I see $90.00 silver.
6:13
Let me explain to you what he's talking about and how we can see
6:18
$90.00 silver. If I can make this a little bit
6:22
bigger. OK, here we go.
6:24
Excellent, excellent. OK, so here's his chart.
6:27
If we go back and look at the silver price, he labels things
6:31
12345. So we see that from the early
6:35
90s we we went around, broke around, we broke down below the
6:40
the trend line back there around 2003.
6:43
That's when silver was $5.00 an ounce 2001 and then subsequent
6:49
to that right, we had this massive run up all the way to
6:53
$50. If you watch the whatever you
6:56
call that, the yellow N SE W sign all the way to $50.
7:00
OK, Now, OK. If we go at it again from where
7:05
we are currently in the current 12345 cycle, 'cause we went
7:09
through that here, 12345 broke down, we would we did another
7:14
1234 five down to where we are right now.
7:20
You see the blue circle cheap zone just like back then in 2003
7:26
range cheap zone. And what he's saying is that we
7:30
are now going to start another move up from this, you know the
7:33
similar which is the five, which is also a one.
7:36
And if we move up guys, just to this blue trend line.
7:41
OK, if you let me let me draw a little picture on here for you.
7:46
There we go. If we move up from where we are
7:49
now, just back here just to that line, OK, and go even just a
7:54
little bit higher, OK, easily we can be at $91120 silver back
8:02
here when silver was $5, everybody thought, you know,
8:06
it's not silver's silver never going to go higher and silver's
8:11
already, you know, fairly priced.
8:12
It's exactly what they're saying right now in this chart shows
8:16
just how aggressive the move in the silver price could be.
8:25
You said I I highlighted 2 similar patterns.
8:27
The bottoming period of the early 2000s started when silver
8:31
broke down at the support line in late 2000 and then made a
8:35
late low point at 5. This This is similar to the
8:38
period since the breakdown at the blue support line, the
8:41
bottom of the channel in late 2014, eventually actually making
8:46
a row in 2020. OK, he says.
8:49
I've indicated how the current chart pattern is similar to late
8:52
2003 when prices were still around 5005 dollars.
8:57
Late 2003 was still a very early stage in the bull market.
9:01
An excellent time to buy buying at the current levels presents
9:06
equally great value giving the given the significant inflation
9:11
since 2003. We got to remember that this is
9:14
especially true given that silver prices are expected to
9:18
catch up with the significant debt inflation, right.
9:21
That's what he's saying like these numbers we're comparing
9:24
the numbers now to the numbers back then and we've had massive,
9:28
massive inflation, right devaluation of the dollar.
9:31
So these the numbers saying silver at 8090 a hundred sounds
9:36
from a purely nominal perspective, right, to be like
9:40
super high numbers like, oh, you're a silver pumper, You're
9:43
crazy to think that. But the reality is much
9:46
different when you adjust those previous numbers for inflation
9:50
where we are now, where we are now.
9:53
Thank you, Jake, for that update.
9:54
I appreciate it. That's good news.
9:56
I'm going to share that with you guys here in a second.
9:59
Where we are now, when you think about it from inflation terms,
10:03
these numbers aren't that crazy. OK, guys, they just are not that
10:07
crazy. I was watching a oh shoot.
10:10
Where did we go? Here.
10:11
Here we are. OK, hold on.
10:15
I got to tell you guys here we go.
10:18
Are we on Well, we're on twice. No, this is this is interesting
10:23
here. You want to see double?
10:23
Now, we won't do that. But I was watching a video the
10:28
other night about Saint Louis. There's an ice cream shop called
10:30
Ted Drew's. It's famous here in Saint Louis.
10:33
OK. And it was from 1992.
10:36
And this person was buying a large chocolate malt at Ted
10:39
Drew's. A large chocolate malt in the
10:42
in. The cashier said $1.90 cents.
10:45
I buffed all out of my chair. OK, I'm echoing.
10:49
Hold on. I'm going to try something here,
10:51
guys. Remove.
10:54
OK Hopefully that makes that better.
10:56
Hold on here setting at the stage.
11:02
No, I just want to get rid of that but I'm worried anyway.
11:08
Tron Ron 2 times Ron let me I'm good now.
11:12
Thank you Gregory. What happened was guys, just so
11:16
you know I'd like a window up and it it like separated and
11:20
opened the whole new window and it really screwed things up.
11:22
I appreciate you guys staying with me through what has been a
11:26
technically challenging live stream.
11:28
I think now that we're back at it, we're back together.
11:32
So let's pull this up. Hey Dwight.
11:36
Wow, thank you my friend. That is an awesome Dwight
11:39
Carlton. Thank you for that super chat
11:41
100 dollars 9999. Thank you, Dwight.
11:45
Thank you. Thank you.
11:46
Super appreciated. Never expected but means a lot.
11:50
So thank you so much. OK, so that's what we know about
11:54
silver. Let's just quickly, let's just
11:58
quickly go out and look at this, right?
12:00
We need this reminder from time to time, which would be from our
12:05
friend Peter Koroth. Remember he wrote the book,
12:08
right? The Great Silver Bowl, the best
12:10
selling silver book. As far as I know, in the last
12:14
number of decades, Indian imports surged by 500 and 75172%
12:20
year on year. OK, look at this.
12:24
The blue, right, it's 2024. The blue bars, that's each month
12:28
so far this year. Obviously when we only have data
12:31
through September, the yellow is last year, OK.
12:34
The black line I believe is the five year average.
12:38
This set up for silver on a long term basis is absolutely
12:43
stunning. Hold on.
12:45
Yeah, here we go. Hold on, Here we are.
12:51
OK, Now if Susie could please send me a text and let me know
12:57
if I'm still echoing. Hopefully the video and audio
13:00
quality is back on track. That's what happens with live
13:04
streams, guys. You never know what's going to
13:05
happen. So again, thank you for being
13:07
here. But what about gold?
13:09
So we've looked at silver. Let's talk about some crazy,
13:12
crazy stats about gold. This blew me away.
13:16
OK, good. Thank you, Susie.
13:18
Thank you to everybody who's here.
13:20
Thank you to everybody who's helping out with this live
13:22
stream and let's go here. This is from the in gold.
13:27
We trust the IGEWT report. These are some of the gurus in
13:33
the sector. This is crazy Incrementum, put
13:36
this out. OK, I want to draw.
13:38
Wait till you see this. Wait till we look at this.
13:42
OK, so this is the gold price in U.S. dollars.
13:46
I'm going to circle this 128% and we're going to circle this
13:54
43%, OK. The gold price in U.S. dollars
13:58
between 1980 and 2011 went up 128%.
14:02
The gold price from 2011 through 2024 went up by 43%.
14:08
So we get these people will say, oh, the gold price is already
14:11
too high. The gold prices, you know, is is
14:14
due for a correction. The silver price are they said
14:17
prices are look at, look at these numbers.
14:20
Remember, OK, gold went up. We'll just, we'll just focus on
14:24
the 2011 through today. Gold is up 43% in price.
14:29
The monetary base in the United States is up 115%.
14:33
The M3 money supply is up 118%. the US federal debt is up by
14:41
142%. USGDP per capita is up 72%,
14:47
median house price during that same period up 81%.
14:51
The S&P 500 is up almost 10 times more than gold during that
14:57
period, and the US dollar index is up 38%.
15:01
So to say that gold and that was the whole point of this of this
15:05
chart, that they is overpriced, is gold already too expensive?
15:10
No, right. And when we go back and look at
15:12
what happened from 1980 to 2011, it's even more astonishing.
15:16
We won't go through all the data, but look, gold was up 128%
15:20
during that period. The monetary base was up a
15:24
1580%. The federal debt was up 1600%.
15:30
And again, gold barely going up. I know it went up, but this this
15:35
argument that it's too expensive, I don't think really
15:38
holds a lot of water. Let's go over to Peter Schiff
15:41
1979. He, you know, there was this
15:46
massive great year for the gold price and silver price in the
15:49
1970s. Nineteen 79.
15:51
Wait till you hear this from Peter Schiff.
15:52
Gold closed at a record high above $2775, on track for its
16:00
best year since 1979. So the only year that we've had
16:06
that was better was 1979. The difference, this is
16:09
critical. The big difference is that in
16:12
1979, inflation was already near its peak and the gold bull
16:19
market was near its end. Whereas now inflation is in a
16:24
through, right? We know guys, we've not hit the
16:27
big inflation yet. We've talked about that
16:29
inflation is the word of the year for the next 10 or 15
16:32
years, OK? We haven't even, we haven't even
16:35
had the inflation yet. So what he's saying is the, the
16:39
comparisons between 1979 and now, there's one big difference,
16:43
right? Gold has already gone up
16:45
significantly leading into that and we were at the end of the
16:50
big inflation cycle that was the 70's, the inflation stagflation.
16:55
We're just at the beginning, OK, We are just getting started.
16:58
Well, that's how he even says that.
16:59
And the and the the gold bull market is just getting started.
17:05
That's what we have to look forward to.
17:08
Let me pull this up. Hopefully I'm not echoing.
17:10
Echoing, we're all back on. Thank you guys.
17:13
I really appreciate you being here this morning.
17:16
It's a, it's a, it's a big, big honor.
17:19
OK, so let's talk about the short term.
17:21
So we talked about the charts, we talked about that day, but
17:23
let's talk about the short term situation that we're facing
17:27
here. Really in the next month, let's
17:29
say, or the silver and gold market.
17:30
This will impact short term, right?
17:33
We're going to keep an eye on the long term, but on a short
17:36
term basis this will have an impact on on the markets.
17:43
This came from our friends at Kitco and by Jim Wyckoff.
17:49
The gold price powers the new all time highs ahead of major
17:53
events. Tell you what, let's run out the
17:56
pin backs and just do a quick update.
17:58
Hopefully we still have gold. We do.
18:01
Gold is up. OK.
18:02
Silver's coming back a little bit too, guys.
18:04
We'll take it. We'll take it.
18:06
Silver only down $0.60 now. Gold up $5.
18:10
Jim Wyckoff, he points out what we've got to look at here, right
18:13
short term, the important U.S. jobs report on Friday.
18:17
That's going to be a big market mover short term.
18:20
Remember, V for volatility and then next week's US elections
18:25
have the marketplace pensive. At the present, the trepidation
18:28
is supporting buying interest in the safe haven gold and silver
18:32
markets, The Wall Street Journal reports.
18:39
Concerns about the rising U.S. Federal deficit are helping to
18:44
push bond yields up. Investors are betting a
18:48
challenging fiscal situation might only get worse after the
18:52
election. That's according to the Wall.
18:54
So there, suddenly the US national debt's going to become
18:58
a a recognized problem after the election.
19:01
For now, it's still an elephant in the room.
19:03
Room, he says the fact that gold is holding near its record high
19:07
despite a strong U.S. dollar and rising U.S.
19:11
Treasury yields also could be due to safe haven demand
19:15
regarding the potential for the US government's debt to balloon
19:19
even more. Everything has been thrown out
19:23
the window. Everything, even on this
19:25
domestic US situation. We got the inflation numbers.
19:28
We're going to get those tomorrow, right?
19:30
Jobs numbers on Friday, the election, what Tuesday of next
19:33
week and then Thursday of next week, a Fed meeting that
19:36
nobody's talking about. Those are the factors that are
19:39
going to drive the silver and gold price here in the coming
19:43
weeks, maybe month, but definitely the next two weeks.
19:48
But what's critical to remember is that gold and silver really
19:53
bull right have decoupled from these these relationships with
19:57
the US dollar and the and the Treasury.
20:01
The treasury rates, the 10 year treasury rate.
20:04
Here we go. Let's talk about silver December
20:06
silver future bulls have the solid overall near term
20:10
advantage. Prices are in the are in an
20:12
accelerating 2.5 month old uptrend on the daily bar chart.
20:16
The bull flag pattern is also formed.
20:18
On the daily chart, Silver Bowl's next upside upside price
20:22
objective is closing above solid technical resistance at 3750.
20:28
The next downside price objective for the Bear for the
20:31
Bears is the closing price below solid support at $32.32 dollars.
20:38
3250 are still the line in the sand when it comes to the
20:44
precious metals. Thanks again for that huge super
20:47
chat. Those are the lines in the
20:50
stand. Have you considered this?
20:54
Right. Have you considered this?
20:57
I can't help but look one more time.
21:00
OK, 3386 guys, we are still near, very near $34 silver.
21:07
OK, we did it. We got up there.
21:10
Volatility is absolutely to be expected.
21:13
We will have this volatility. We got up to 30-4.
21:17
Maybe we pull back a little bit, but we are going to go back
21:20
straight up through that $34 level.
21:24
OK, massive changes. All right here, big picture.
21:29
Let's talk about the big picture.
21:30
You know who Muhammad El Ariana is?
21:32
This is the big picture, the big, big picture for gold and
21:37
silver right now. The smartest guy in the room.
21:40
All right, let's pull him up. He has something very
21:43
interesting to say about the gold and silver market.
21:46
I just want to briefly tell you who we're going to be listening
21:48
to, Mohamed El Erian. He is the right now, he's the
21:53
president of Queen's College at the University of Cambridge.
21:56
Since 2014. He's also served as chief chief
22:00
economic advisor to Allianz, the corporate parent of PIMCO.
22:04
PIMCO is a massive bond, I believe trading investment firm
22:10
OK. He was also the chief executive
22:12
and Co chief investment officer there from 2007 through 2014.
22:18
Why do we want to listen to this guy he unseated?
22:22
Was it Bill Gross, the bond king at PIMCO, right?
22:26
The bond market is way bigger than the stock market.
22:29
So when these top guys, right, that come from the top would
22:33
have been bond trading. Bond investing markets have
22:35
something very critical, massive changes in the world, but also
22:41
how it affects gold. And he speaks specifically about
22:44
gold. We want to pay attention.
22:46
Let's get into the details of what he says.
22:50
He says the gold. This is another article from
22:53
from Kitco. They're popular here in the
22:54
basement. But a gold rally reflects growth
22:57
of dollar alternatives. The West must wake up.
23:01
That is according to Mohamed El El Erian.
23:05
Excuse me. This is written by Ernest Hofman
23:07
from Kitco says Western countries should pay more
23:11
attention to the skyrocketing gold price.
23:14
Skyrocketing gold price as precious metals persistent rally
23:18
reflects increased interest in alternatives to the dollar based
23:22
financial system. That's according to Mohamed El
23:25
Erian, right, former CEO of PIMCO and and current president
23:29
of Queen's College. Something strange has happened
23:33
to the price of gold over the past year.
23:35
When he's talking about gold, we know he's talking about gold's
23:39
little sister, Silver, El Arian wrote in the Financial Times on
23:44
Monday. In setting one record level
23:47
after the other, it seems to have, and this is critical,
23:51
decoupled from its traditional historical influencers such as
23:56
interest rates, inflation and the dollar.
24:00
Moreover, the consistency of its rise stands in contrast to
24:05
fluctuation in in pivotal geopolitical situations.
24:10
But that, that is big news, guys.
24:13
This is coming from the former basically bond king, right?
24:17
No longer, no longer is, is gold and silver for that matter, to
24:22
the extent that silver is gold's little sister reacting to
24:26
interest rates, inflation and the dollar.
24:29
Sure, it's reacting, but it's decoupled.
24:32
It's broke up. It's it's no, they're no longer
24:36
dating. They're just friends now.
24:39
That's a big deal. And on top of that, what he says
24:43
is, and I think this is key for us to understand.
24:47
Sure, right. Everybody likes to, everybody
24:50
likes to talk about how gold is, is affected by the by the wars,
24:55
by the geopolitical situations going on in the world right now.
24:59
But gold as those have gone up and down, gold has still
25:03
remained very, very steady. OK, that is see, I can get rid
25:08
of this. OK, get you guys back on there.
25:14
OK, let's get back to this article.
25:18
He said the gold's all weather price increase indicates the
25:21
presence of something that goes beyond short term economic,
25:25
electoral and geopolitical developments.
25:27
The world is changing for precious metals is what he's
25:30
saying. Though we are in we, we talked
25:33
about this six months ago, a new paradigm for the metals.
25:37
It captures an increasingly persistent behavioral trend
25:41
among China and middle power countries as well as others, he
25:44
said. And it's a trend that the West
25:46
should be paying greater attention to.
25:48
He noted the price of gold is gone from about 2000 to 2700.
25:53
Interestingly, this March up in price has been relatively
25:57
linear, with any pullback attracting more buyers.
26:00
It has occurred despite some wild swings and expected policy
26:04
rates, a wide fluctuation ban for benchmark US yields, falling
26:09
inflation and currency volatility.
26:12
Gold and silver are just in their own own new world right
26:16
now, is essentially what he's saying, he says.
26:19
Some people may be tempted to to dismiss gold's performance as
26:22
part of a more general increase in asset prices that seem to
26:26
like the S&P 500 go up 35% in the last 12 months.
26:29
Yet that correlation itself is unusual.
26:33
Others will attribute it to the risk of military conflicts that
26:37
have seen so many innocent civilians lose their lives and
26:40
livelihoods, together with massive destruction of
26:42
infrastructure. Yet the price journey suggests
26:46
that they there there may well be a lot more going on.
26:51
OK, there's also interest in exploring possible alternatives
26:56
to the to the dollar based payment system that has been at
26:59
the core of the international architecture for some 80 years.
27:03
USA hegemony, hegemony, excuse me, is decreasing.
27:08
That's my note. All right.
27:11
I mean, there's so much I just don't want to read out.
27:13
No other currency or payment system is able or willing to to
27:17
displace the dollar at the core of the at the core of the
27:20
system. And there is a practical limit
27:23
to reserve diversification. This is interesting, but an
27:27
increasing number of little pipes are being built to go
27:30
around the dollar. An increasing number of little
27:33
pipes, he calls it, and a growing number of countries are
27:36
interested and increasingly involved.
27:40
OK, all right. Last couple things I'll read
27:44
through here for you guys. He said the current gold price
27:47
rally is not just unusual in terms of traditional economic
27:52
and financial influences. OK, this this move we have had
27:56
in gold and silver is unusual based on historical, economic
28:01
and financial influences, but it also surpasses strict
28:05
geopolitical influences to capture a broader phenomenon
28:09
which is building secular momentum.
28:11
Look, this guys like talking to somebody who's a Harvard
28:14
professor. I know it's a little heady, but
28:16
what he's saying basically is gold and silver are breaking out
28:21
into a new world, into a different environment.
28:24
It's a phenomenon that Western governments should pay more
28:27
attention to, he concluded. And it's one where there's still
28:31
time to course we correct course correct, though not as much as
28:35
one would hope. That's what's happening, guys.
28:39
That's the big picture, right? The, the, we, we, we talked
28:43
about the charts like with silver going to $90.00.
28:46
We talked about the short term USA on the silver price, on the
28:51
gold price, the big picture, right?
28:55
We talked about this morning when silver's down $0.80 per oz
28:59
and it hurts us. We're, you know, it's no fun.
29:01
It's painful that we need to look at the more long term
29:05
picture. Where's silver going to be a
29:06
year from now? Where's silver gold going to be
29:10
3, five years from now? What this guy says, right?
29:13
He's ahead of a kind of Cambridge or something.
29:16
Think about what he's saying. Gold and silver have decoupled
29:19
from these traditional economic and financial relationships and
29:24
are moving into new territory. It's happening and it's
29:28
happening right now, right before our very eyes.
29:31
What happens? Chris Marcus and Arcadia had a
29:34
had a great Substack post yesterday about what happens
29:41
when when the silver market breaks right?
29:44
Why would the banks ever cover gold and silver losses?
29:48
This is from his Arcadia Arcadia economic suspect.
29:52
Great. I encourage you to check it out.
29:54
There's a link in the description of this video.
29:56
A lot of people know Chris. He's one of the founding,
29:59
founding people on the Silver and gold YouTube community.
30:05
He talks about what you know, what happens kind of went with
30:08
the markets and about the short positions and gets into a lot of
30:11
the details. What I thought was when I wanted
30:14
to share with you guys here today was he shared this article
30:17
from 1980. Look up here at the top Tuesday,
30:21
January 22nd, 1980. This is what happens.
30:24
This is what the COMEX does when the market breaks.
30:28
And let me make make it a little bit bigger for us here.
30:32
This is from 1980. New York Commodity Exchange,
30:35
struggling to prevent a possible breakdown in its huge silver
30:39
futures market, yesterday ordered trading in the metal
30:43
restricted to the liquidation of contracts.
30:46
The COMEX also sharply increased margins on silver and gold
30:51
futures contracts. So they did two things in 1980
30:55
when the market took off #1 They made it so you could only
30:57
liquidate your contracts #2 right?
31:00
They increase the margin requirements.
31:02
They increase the amount of cash that you had to have in your
31:06
account if you wanted to hold silver futures contracts.
31:10
But this is the funny part. Over here on the right, it says
31:14
the biggest threat to the world's leading metals exchange
31:17
comes from wealthy international silver hoarders and speculators.
31:21
This is 1980. Remember when silver shot up to
31:24
50 bucks who've been buying large numbers of futures on
31:27
margin with every sign that they plan to take delivery of the
31:31
actual metal? Imagine that.
31:34
It's a silver market, right? Where you can buy and sell
31:37
silver and people actually wanted to take delivery.
31:41
This factor in the year long sustained rise in silver prices
31:45
have all but paralyzed the Homex market.
31:48
This is because the trade and futures contracts which are
31:51
promises to buy or sell a certain quantity or quality of
31:56
goods at a specific price during a fixed period of time.
32:00
That sounds like a contract to buy or sell something physical,
32:04
right? Was never meant.
32:07
Yeah, this is the best part. Was never meant to result in the
32:11
actual delivery of the physical goods the contracts represent.
32:17
Was never meant to result in the in the delivery of the physical
32:21
good goods that the contracts represent, and indeed rarely did
32:27
until last year. Instead, futures are basically a
32:29
mechanism for the transfer of risk, a sort of insurance
32:33
market. Thank you, Chris, for sharing
32:37
that article. That's what the COMEX is.
32:40
We never really intended for you to buy or sell silver, gold.
32:43
It's all make believe. It's all Unicorn fart dust.
32:46
It's all you know. It's at the COMEX and the LBMA.
32:49
It's all here so that we can manage risk.
32:53
Do you think that maybe is a fancy way for them to say that's
32:57
a way for us to be able to manipulate the price?
33:01
No, do you think? I think I thought that was, that
33:06
was a great article all the way from 1980.
33:09
Hey, let's all have a good sip of coffee and I'm going to be
33:11
right back. We got to go out for the debt
33:20
clock. Let's go on a field trip, guys.
33:22
We need to check on that dollar to silver ratio, make sure
33:26
that's not collapsing. And here we go.
33:30
We are at the US debt clock. And 1st, let's run over and make
33:35
sure that the US debt is still intact, which it is and we're
33:41
getting close to 36 trillion. That's going to be a big day
33:44
when that one pops off. Let's go check on the dollar to
33:47
silver ratio right here where my yellow, we are now at 948.
33:52
Yes, I'll repeat this everyday. That is the number of dollars
33:58
being created via the M2 money supply, paper dollars,
34:03
electronic dollars, right? The number of dollars being
34:06
created for each one ounce of silver that's being produced
34:11
this year. Right now $948 for each one
34:15
ounce silver. Let's run out to our, we're
34:20
keeping a, we're keeping tabs on this and today is the 30th,
34:26
10/30/24 and is 24. And as you can see, we continue
34:37
to go up guys. Look, I mean still what a week
34:40
ago we were at 741 seven, you know, 741 paper dollars for each
34:45
one. That's a silver.
34:47
We've now shot up all the way one week later than $948 for
34:53
each one ounce of silver. It is incredible.
34:58
Did you hear this breaking news? Oh, the US economy, the US
35:05
consumer, right? the US consumer, we, we live in
35:07
a consumer based economy. What does this tell us about the
35:11
health of the US consumer? OK, the Kubisi letter says this
35:16
the car market bubble. Do you own a car?
35:18
You have a loan on your car. If you owe more money on your
35:21
loan on your car, then your car is worth you are upside down and
35:26
you are not alone and it is not a good position to be in.
35:30
Does the car market bubble? 33% of Americans who finance
35:34
their cars now owe more on their loans than the vehicle is worth.
35:40
One in three people that have a loan on a car right owe more
35:45
money on that loan than the car is worth, right?
35:48
That would mean if they sold their car and used that money to
35:51
pay the loan off, they would still owe more money.
35:54
This represents 31 million auto loan.
35:57
That's a lot. Account registered by the
36:00
Consumer Finance Protection Bureau.
36:03
Making things worse, used vehicle prices in the US have
36:08
dropped. I didn't realize this by almost
36:10
22% over the last three years. Additionally, almost 25% of
36:17
vehicles traded in had negative equity in 2024.
36:22
That's just that. You go to buy a new car right?
36:25
Your current car, your used car that you're currently driving
36:28
and you have a loan on, you go to trade it in at the dealership
36:32
or some people call them Steelership, but nonetheless,
36:35
you go to trade it in and you say to the guy that's financing
36:40
your car. Well, the car, the car is worth
36:43
$6000, but I owe 10,000, OK, 25%.
36:48
These borrowers owed an average. Here we go almost $6500 more
36:53
than their car was worth when they traded it in.
36:56
The most on record. The car loan crisis is here.
37:00
We are facing economic crisis in this country, right?
37:05
We've what about credit card debt?
37:07
We've, we haven't really talked about credit card debt lately
37:09
that's exploding. We haven't received any new
37:13
recent data regarding credit card debt.
37:15
But any way you slice it and dice it, it's going to be crazy,
37:20
right? Next week, next week, right,
37:23
The, the election, right? And then we'll be heading
37:26
through November. And this is the big deal that's
37:29
going to occur after the election.
37:31
If we make it through the election without any major,
37:34
let's say domestic turmoil in this country.
37:37
If we make it through it, then guys, guess what happens?
37:41
Guess what becomes real. And everybody knows this is
37:45
going to happen. the US national debt becomes real.
37:49
That's when suddenly 2025 is, is, is going to be, there's
37:54
going to be two big things you can look forward to.
37:56
And, and they're both, they're both going to be very supportive
38:02
for the silver price and the gold price.
38:05
OK #1 the US national debt is going to come, come forefront.
38:10
It's going to become a big story.
38:12
Nobody's talking about it right now.
38:13
When's the last time you switched on the Today Show or
38:18
the Children's News Network or MSNBC or whatever it's called?
38:23
And they're, and they're focused on this debt problem.
38:25
Never next year. That's what you're going to see.
38:29
The other big, the other prong of that, OK, which is, which may
38:34
actually be one of the reasons why they're going to be talking
38:36
about it is inflation. Inflation is coming back, OK?
38:42
The Federal Reserve, no matter what they say, only has one
38:47
option and one option only, and that is to inflate away the debt
38:51
of the United States. OK, Interest rates are
38:54
skyrocketing right now. I read last night the 10 year
38:58
bond yield is up almost almost 3/4 of a percent since basically
39:04
since Jerome announced an interest rate cut.
39:07
They're going to be in a position.
39:09
Thank you, Cliff, you care. Cliff cares about the national
39:13
debt, so does Ron, so does so do you.
39:15
Most of you out there watching this.
39:18
OK. And soon our politicians, even
39:21
though they don't want to care, they're going to be forced to
39:24
care. But what's really interesting
39:26
and what is what is going to ignite ignite, right?
39:32
That chart we looked at earlier where silver goes to 80, ninety
39:35
$100 pounds, where gold can go up to 3500 or higher is when the
39:42
Fed is forced to monetize the debt.
39:45
Then it's game over, right? And what that means, what that
39:49
means is because interest rates are going up and up and up and
39:53
the United States government can't afford to pay the interest
39:56
expense, the buyer of last resort will be Jerome Powell and
40:01
his printing press. I got a feeling he's going to
40:05
resign. I'm, I'm going to go on a limb,
40:07
I think I have no inside information, but I am confident
40:11
that one year from now we will not have Jerome Powell at the
40:14
helm of the Federal Reserve. He knows, right?
40:18
He's been running down the he's been, he's been sticking bubble
40:21
gum and duct tape and you name it, all over the US economy.
40:25
Thanks again, Cliff. He knows that there's big, big
40:28
trouble. And the only thing they're going
40:30
to be able to do it in the end is print money and use that
40:35
printed money to buy the US debt.
40:38
It's like a, it's like a game of smoke and mirrors.
40:41
No matter how you look at it, OK, it's a it's, it's and at
40:45
that point it's game over. At that point, the United States
40:48
public wakes up and realizes, and that's going to cause
40:52
inflation. Let me back up, by the way,
40:53
because anytime they print money out of nowhere, right?
40:57
It adds to that to that, that dollar to silver ratio that we
41:01
talked about. But just overall, it dilutes the
41:05
increase the supply of dollars because the foreigners aren't
41:10
going to buy our debt and it's going to mean that we're going
41:12
to have way, way higher prices for the precious metal.
41:15
So be prepared, be prepared even if we make it through this
41:20
upcoming period, right? And then be prepared for next
41:23
week and the following week because things can get, things
41:26
can get very interesting. Let's hope nothing bad happens.
41:29
I'm not predicting it will, but I'm also not predicting that it
41:32
won't. OK.
41:33
So just be prepared for almost anything to occur here as we
41:37
head through this next week or two.
41:40
I'm bullish. You know, I was talking with
41:42
Mike, the owner of Pendex this morning, one of the owners, one
41:46
of the brothers and, and you know, I said I still believe
41:49
that we can get $44.00 silver by Christmas.
41:53
I think that on Christmas Eve we could be down here celebrating
41:57
together with $44.00 silver. We're going to get through a
42:00
little rough period here in the next couple weeks.
42:02
And by the way, let's run out the pen backs.
42:04
And I'm going to tell you what he shared with me some of his
42:06
observations on the silver and gold bullion market.
42:10
Come on, silver. All right, guys, let's see what
42:13
we got. And we're down $0.80 gold, still
42:16
holding on to a six cent upswing.
42:20
It's OK, don't worry, don't worry.
42:23
Volatility, right, remember, goes both ways.
42:26
And in the end, what we want is a net increase in price and that
42:30
is what we have been getting. And what I think, I don't know
42:33
how you feel about it, what I think we're going to continue to
42:37
get, right. How's it going to feel a year
42:40
from now? Yeah, it would feel really good
42:43
to be trading in a range of 42 to $44.00 brown silver.
42:47
How's it going to feel a year from now if we're trading in a
42:51
range of 52 to $54.00 for silver, we can't rule out that
42:57
we could be trading at $26 a year from now.
43:00
I really don't think that could. I can't see a scenario where
43:04
that's the case. But as we all know, right, we've
43:07
all been around, that could happen.
43:09
Hey, guys, thank you for being here.
43:11
Thank you for putting up with the technical glitches that
43:13
occurred at the beginning of the live stream or try to figure out
43:17
how to deal with that in the future.
43:19
But most importantly, thank you. OK?
43:21
Thank you to the moderators. Thank you to Jake from Jake's
43:24
custom Parts. Annie Oakley, I see you.
43:26
Hello, Annie. Moderator, the one and only.
43:29
And our friend Big Tim the Silvershire.
43:31
Thank you to Susie for helping out.
43:33
Most important as well. Not more important, but as
43:37
important. Thank you.
43:38
Each and every you. Not each and every you.
43:40
You. Yeah.
43:41
I see you for being here. I hope you feel like you found a
43:44
little home away from home here in the basement.
43:47
We're here most days. You're always welcome.
43:49
Take care of yourself and I'll see you soon.