Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **Best Time to BUY SILVER** (plus US Debt Clock's SHOCKING Data)

Transcript

**Best Time to BUY SILVER** (plus US Debt Clock's SHOCKING Data) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
This is unheard of. People are waiting for Ron.
0:03
I see it in your comments. Every single video they're
0:05
waiting for $14.00 silver, $17.00 silver.
0:10
Folks, you we get that low, you're not going to be paying
0:13
14. You're going to be paying
0:15
probably more than you're paying now.
0:21
Is now the time for you to be buying silver?
0:24
And how much silver should you be buying?
0:27
Is the market handing us a golden opportunity to buy
0:32
silver? We're going to discuss this with
0:34
Expert Coin Shop, Chris, but also we're going to talk about
0:38
some startling, horrifying omniscient numbers from the US
0:43
debt clock that will also have a big impact on the precious metal
0:48
prices as we move through the rest of 2024.
0:52
Coin Shop, Chris. Welcome to Ron's Basement.
0:55
How you doing, Ron? I hope everybody out there and
0:58
Ron's basement world's doing all right.
1:00
I like to take a moment to let's say, like, share and subscribe
1:03
this and share this with two other people, please.
1:07
We need to get some more viewers.
1:10
And by the way, Ron, I'm no expert.
1:13
Yeah, you are an expert in my book.
1:16
And and on top of that, we want to say thank you to the viewer
1:19
who's joining us today, Chris, it's, you know, you and I,
1:22
right. We're the, we're the two most
1:23
important people in our worlds. But there's someone who's
1:26
joining us, a basement dweller who's interested in silver and
1:29
gold and that's what we're going to deliver for them.
1:33
Yes, you today Chris, is now the time to be buying silver?
1:39
I think it's anything we said this, I've said this before on
1:43
anything under $50.00 an ounce, I would be buying it.
1:47
So was that a yes? Absolutely, Yeah, at these
1:50
prices, even raw stuff, graded stuff.
1:53
I mean you can get a lot of nice stuff even graded under $50.00
1:57
an ounce right this right now. If people into graded stuff get
2:02
out there and get it because we know it's going to just going to
2:05
go up. I mean, Ross stuff, solvent
2:07
coins are going what for 252627 dollars right now.
2:12
I mean this is unheard of. People are waiting for Ron.
2:15
I see it in your comments, every single video they're waiting for
2:18
$14.00 silver, $17.00 silver. Folks, you we get that low,
2:25
you're not going to be paying 14.
2:26
You're going to be paying probably more than you're paying
2:29
now because everybody's going to run, run to those golden gates
2:32
and get their hands on it thinking they're getting a
2:34
bargain. Get it now.
2:36
Don't wait. I mean.
2:38
Because because the market is handing us a golden opportunity
2:44
to buy silver premiums on silver.
2:47
I won't say they're all time low, but historically speaking,
2:50
the premium, the amount you're paying over the spot price to
2:54
get yourself an ounce of silver are at historical low levels.
2:58
They are at extremely low levels when compared to let's say, 10
3:02
months ago when people were paying $1520 premiums just to
3:06
get an American Silver Eagle. And it feels like now you can
3:10
get American Silver Eagles for $4.00 over spot.
3:13
So the premiums are way down. You can buy, you can buy premium
3:18
level sovereign minted silver coins right now for not much
3:22
more than you pay for just a regular old silver round.
3:26
Is that what you're saying, Chris?
3:27
I mean, you're in the business. What are you saying?
3:29
Tell me. Absolutely wrong.
3:31
I mean, they're going for like 275 more than you know, and just
3:36
a regular, you know, you know, round bar, just whatever.
3:40
One of your moderators picked up 10 oz.
3:43
Canadian bars for $26 and an ounce Ron 260, yeah, I mean that
3:49
is that is I mean I'm not trying to be a pumper here, but that's
3:53
cheap I. Mean We are pumpers.
3:56
We are, we are, we are pumpers. And you know, I think the person
3:59
again who's joining us right now, our beloved viewer,
4:03
probably likes to hear about the the optimistic viewpoint for
4:08
silver. What about gold Compared to
4:11
silver? It's taking 90 oz roughly of
4:14
silver right now to get one ounce of gold.
4:16
But the reverse of that is true as well.
4:18
I don't own any physical gold, but if I did, I'd be thinking
4:22
long and hard about converting A1 oz gold coin into 90 American
4:27
Silver Eagles. Me right now Ron, I if if people
4:31
have gold, this is where I tell people at the shop around don't
4:35
trade for server buy server. We don't know what where gold's
4:41
going to be right now. I still believe gold's buying
4:45
opportunity to need still, but silver has more upside potential
4:51
than gold right now. And you know, I mean if you
4:55
really want the server and don't have the cash, I went trading
4:59
all your gold for silver. You want to do one or two oz,
5:04
Fine I would say. But if you have gold, I would
5:09
hang on to what you have and not do any conversion right at this
5:12
point. I'm just saying it's, I'm just
5:15
saying it's very attractive. I don't think you and I agree on
5:17
that matter, Chris, but that's OK.
5:19
But I do think it's very attractive to to to convert 1
5:23
Gold Eagle into 90 American Silver Eagles.
5:27
Well, I I'm seeing gold might be slipping.
5:30
Maybe another 30-40 dollars before we start taking off.
5:35
And I think Sir was going to be on kind of by a holding pattern
5:38
here for another couple weeks. That's just my opinion.
5:42
I could be dead wrong. I'm always wrong, so I mean.
5:46
No, you're the expert. Now question for you how much
5:50
silver, how much gold should a person acquire?
5:53
I know we like to say well, as much as possible, but my
5:56
thoughts on that is only convert money that you think in into
6:01
silver and gold that you believe you could hold that silver and
6:05
gold forever that you want to, that it's generational that you
6:08
want to, that you want to protect your wealth and hold on
6:11
to your wealth. What are your thoughts on that
6:12
coin shop, Chris? Absolutely, Ron.
6:15
I mean you, you know, you don't want to be converting them for
6:20
the cash you don't have and have to come up.
6:23
And you know, I see this almost on a daily basis, Ron.
6:27
People will come in and just need to sell a couple ounces of
6:30
silver to get through to the next payday.
6:34
They're 4060 dollars, $80 short for whatever reason.
6:39
Well, I think we know the reason due to inflation to cost
6:43
everything and their paychecks are not keeping up to what they
6:46
need to get for the household. Yeah.
6:49
Yeah. Thank you, Chris.
6:50
Next, we're going to talk about the US debt clock and some
6:53
horrifying numbers and how that could relate to the silver and
6:57
gold price as we move through the rest of the year.
6:59
But I wanted to take a second and say thank you to our channel
7:03
sponsor, Fortuna Silver Mines. They just announced record
7:08
production numbers for 2023, paid off $40 million in debt,
7:14
and right now I believe the stock price presents an
7:19
outstanding value opportunity. Now look, I'm not giving
7:22
financial advice, I'm just sharing with you my opinion.
7:26
And it is a stock that I've owned for many years before they
7:30
agreed to sponsor Ron's Basement.
7:32
But if you want to learn more about Fortuna Silver, you can go
7:36
to fortunasilver.com Coin shop. Chris, when we look at the US
7:41
debt clock, we're horrified. I think our blood pressure goes
7:44
up. What are you seeing?
7:45
My blood pressure goes to the roof, Ron.
7:47
I think I might have broken a couple of chairs, 'cause I get
7:50
so damn mad. I'm looking at these numbers.
7:54
That's a joke, by the way. So anybody thinking I'm that
7:57
violent? No, I'm not.
7:58
But no, it's horrifying, Ron, You know, let's just start off
8:02
with this, right? Most people know the US debt is
8:06
$34 trillion and growing. So if we broke that down and the
8:11
debt clock does a pretty gosh darn good job of breaking it
8:14
down. So if you're AUS citizen, you
8:18
would all not technically all this, but they broke it down
8:22
where it came out to be $101,327.00 per U.S. citizen,
8:29
that means you're $2.00 wrong. That's eleven years old, has
8:34
that. So Heckley has that debt.
8:37
If you broke it down to everybody in the country or
8:40
people outside living in the US and still consider U.S. citizen,
8:44
that is what they owe you and I are taxpayers wrong.
8:48
So we would be we would be paying 264,000 and $90.00 wrong.
8:53
That's the breakdown. Not saying we owe this.
8:55
Whoa, whoa, whoa. Whoa.
8:57
So you're telling me that my share of the United States debt
9:00
as a taxpayer right now is over a quarter million dollars?
9:04
That is what I'm telling you, yes.
9:06
Sir, so so we're all, we're all, we're all walking around with
9:09
little bubbles above our head and mine says 264,000 O 9 O
9:14
'cause I don't have any other debt, but even though I think I
9:17
don't have any debt, really my share of the national debt is
9:20
that much. And you're telling me that my my
9:23
beautiful twin daughters are indentured as well.
9:26
They have bubbles above their head that say 101, $1000, three
9:32
hundred $101,327.00 and it's probably closer to 100 and one
9:37
500 now because these numbers keep going up and up.
9:40
Absolutely Ron. It's, it's and and if they do a
9:42
good job of breaking it down now just to confirm to everybody, we
9:46
don't, you don't owe this that that's how they just break it
9:49
down. I want to clarify that.
9:52
You mean we're not gonna get a bill in the mail?
9:54
No, we're not gonna get the bill.
9:55
We're not gonna get the bill. In the mail, right?
9:57
Well, it gets even worse, right? That's just our share of the
10:00
national debt. But when you consider credit
10:02
card debt, the next number you have for us 1.3 trillion
10:07
dollars. And if you break that down by
10:09
U.S. citizen, I hear different numbers and I guess we could
10:12
could do the math per SE, but like the average family in the
10:15
United States has 10,000 in credit card debt.
10:18
I mean, it's just crazy. And then you factor in student
10:21
loan debt, you factor in car debt, you factor in mortgage
10:24
debt. Most people don't really think
10:26
about their share of the national debt, but that's real.
10:30
You know, in this credit card debt, what is going to happen
10:34
when you know if you or I went out there tomorrow and when you
10:37
and I went out to Las Vegas, Ron and let's say we both had a
10:41
Discover Card, and I'm not picking on just Discover here.
10:45
You can use any bank you want to, but we both had a $5000
10:48
credit limit. And you and I went to the claps
10:51
table one night and we just maxed that out.
10:55
After it's gone, Ron, we got no more credit left.
10:58
It's gone right. People are getting tapped out.
11:03
Yeah, well, people don't have, Chris, people don't have.
11:05
That 1.3 trillion overall in aggregate represents the fact
11:12
that Americans have maxed out their credit cards.
11:15
Americans also in the state is not on the US debt clock, but
11:19
they don't have any savings on average Americans.
11:22
Also, Chris, are tapping into their 401 KS just to make ends
11:27
meet. I mean, it is, it's crazy.
11:29
Absolutely. What about new car prices?
11:31
I mean, we know that the, the, the prices of everything we we
11:36
need to live in this country on a daily basis are becoming more
11:39
and more affordable, right? Well let's say back.
11:42
Let's go. We this came also called the US
11:45
debt clock. Ron median income in the year
11:48
2000. Median income in this country
11:51
was $31,609. A new car back in 2000.
11:58
Average size new car 40 or so sedan would roughly cost you
12:02
$22,088, Ron. A new home or a home medium
12:09
sized home would cost you $161,413.00.
12:16
So let's move it up to today's prices.
12:19
Ron. Median income today for a year.
12:23
39,334 Advertised new car today 49,650 Medium size home 422,593.
12:42
So I want to I want to share with our viewer an observation.
12:46
Incomes went up by about 3030% during that period 2000, the
12:52
year 2000 till now. But the price of a new car more
12:56
than doubled and the price of a home almost tripled.
13:02
Yes, yeah, and dearly tripled. But you've got so double car
13:07
price, triple home price, and but in incomes that only went up
13:12
by 1/3. No wonder the younger generation
13:17
is getting frustrated, right? Let's, Chris, let's move on to
13:21
There's some interesting data about silver and gold on the US
13:25
debt clock as well. What did you discover there?
13:28
Hey, Priscilla or Ron, 390.27 contracts to 1 ounce of silver.
13:38
Wow. 390 So let's say you rounded down 300, so 390 paper
13:44
contracts to 1 ounce of silver. So keep it in simple terms.
13:49
Wrong. Take 390 dollars, $1.00 bills
13:52
and have one ounce of silver. Yeah.
13:55
Well, what and what that and what that represents is the
13:59
amount, the number of paper electronic COMEX, LBMA, silver
14:04
oz that are traded on an annual basis compared to the amount of
14:10
silver that is actually mined on an annual basis.
14:13
So basically what that means is you have almost 400 billion
14:18
ounces of paper electronic silver that are traded for each
14:23
1 billion of silver that's produced by the mining sector
14:28
and and recycling efforts. Absolutely, Yeah.
14:31
And we, you know, we move on to gold, Ron 118.97 paper contracts
14:37
to 1 ounce of gold. So let's round that up to 119
14:40
Ron to for simple math 119 paper contracts to 1 ounce of gold.
14:45
Somebody at the end of the day rise knocking, get this over and
14:50
not going to get the gold. Most of these contracts are on
14:52
and the very fine print are paid out in cash.
14:56
Interesting. Interesting.
14:58
All right, we're going to move. We're going to move unless.
15:00
You're a big Brig. Unless you're a big big boy or
15:03
girl that has a lot of contracts, you might get your
15:06
still physical server and gold. But at the end of the day, most
15:08
of these contracts are paid out in cash.
15:12
Yep, they're settled or sold beforehand.
15:15
What about healthcare costs that we've seen?
15:17
We've got a couple more crazy data points you want to share
15:20
with us. Healthcare The average
15:22
healthcare cost if you're if you are working or if you weren't
15:26
working, you know your employee normally picks up most of the
15:29
healthcare costs if you have healthcare coverage.
15:32
But between you, your cost and your employer's cost, back in
15:37
2000 it would've been $5340 on Today that has jumped up to
15:43
14,552 dollars. It's almost, it's almost kept.
15:49
It's almost kept up With the increase in house prices nearly
15:52
a triple. What about What about
15:54
manufacturing jobs? They want to talk about jobs,
15:58
Ron. You know it's working, right,
16:00
Ron? Back in 2000.
16:04
Be careful what Chris, be careful what you say because Joe
16:07
Biden watches Ron's basement every day just to be in touch
16:12
with what's going on with the average American.
16:14
So we talked about the important we we we talked about the
16:17
importance of this viewer, right.
16:20
Really, they're the most important person here.
16:21
And by the way, thank you for joining us and we will ask you
16:25
one more time, please give this a thumbs up and subscribe to the
16:28
channel so you can come back to the basement.
16:30
Because we know Joe Biden from the White House.
16:33
He may be in the basement of the White House.
16:35
He's watching. So we just want to make sure Joe
16:37
knows that it's working. Go ahead, Chris.
16:41
Mandarin faction jobs? Wrong.
16:42
Back in 2000 we had 17,000 and 17,000,000, excuse me, 274,711
16:52
manufacturing jobs. Today, as of 1/18 when I took
16:57
these numbers wrong, we had 12,987,000, 321.
17:06
Sure it wasn't 22. No Twelve 12,987,321.
17:17
OK. Wow.
17:19
I know my chicken scratch bad. And I'm just joking around.
17:24
I'm sorry. And I apologize to the viewer
17:27
for joking around about what is actually really a sad state of
17:32
affairs when we look at these numbers.
17:34
I mean, manufacturing jobs down by almost a third.
17:40
What about unemployment? Let's let's talk about that.
17:43
Well, they want to claim. Now this is a little bit more
17:47
difficult to explain I guess because the official government
17:51
unemployment numbers, if you're collecting an unemployment
17:55
check, currently 6,000,000 395,861 are currently collecting
18:05
a check from unemployment. The actual number on is
18:09
11,152,897. So that means if you are at the
18:17
end of your unemployment and not collecting it, you don't get
18:20
counted no more in that official number.
18:23
If you work for Uber, Grubhub and you just say I'm done with
18:28
this, you were actually making, well, they don't.
18:31
You don't get unemployment anyways.
18:33
That's another job lost there. And you're part of the actual
18:38
number, but you're not collecting.
18:40
So everything the government wants to tell us on TV, on these
18:46
Fox News, CNNC, Span, not C-SPAN, but MSNBC, Bloomberg,
18:52
CNNBC, whatever the heck is out later on.
18:56
They're lying to us, the numbers off rods and and really the US
19:02
debt clock really does a good job of breaking everything down.
19:05
It's free to go there. You can go there anytime you
19:08
guys want. I would check it out.
19:11
Yep, Yep. So.
19:13
So if, if, if you're feeling a little crazy, if you're feeling
19:18
like life has become more difficult for you over the last
19:21
10 or 20 years, when we look at these numbers, it explains why.
19:27
So Chris, if somebody out there wants to protect some of their
19:30
wealth with silver or gold, and we talked about gold earlier,
19:34
let's say they're out shopping for quarter oz Gold Eagles, for
19:39
instance. Would you happen to have any
19:40
data related to like the pricing that you're seeing?
19:44
Let's do a little comparison shopping.
19:45
What do you say, Chris? I do.
19:47
These are for most of these I'm going to be talking about is for
19:50
2024, one quarter oz Gold Eagles Wrong.
19:55
Matt Max had them for $679.23. JM Bowen had them for six. 7955
20:05
BGASC had them for six 7435. Muddy Metals was their pick.
20:13
That means you would not get. You might not get a 2024, but
20:17
they had them for six 3764 silver, gold and bowl.
20:24
A little bit cheaper had them for five 9549.
20:28
Hero Bowen had them for 57967, but Pinbex just beat them out at
20:35
57858. You mean you mean you mean
20:40
Pinbex, our channel sponsor? Beat them out just by a little
20:45
less than a dollar. It looks like a little bit more
20:47
than a dollar at Hero Bowen. OK.
20:50
So these are, these were quarter oz Gold Eagles, you took the
20:55
prices from a number of available online bullion
20:59
dealers, you did these price, you did this all at the same
21:02
time and these are all for cash or ACH type transactions.
21:08
So you're comparing apples to apples here amongst all these
21:11
dealers, correct? Absolutely.
21:14
And you found that, so you found that PEMBEX when you compare it
21:18
to I think it was APMEX was the highest was almost $100 less for
21:24
this quarter OZ Gold Eagle. $100.97 wrong, almost $111.00
21:30
cheaper than APMEX. So let me get this straight coin
21:34
shop, Chris. Does that mean that if I'm out
21:36
shopping for 1/4 ounce 2024 Gold Eagle and I try to decide
21:41
between APMEX or Pimbex, right, they both end in X but Pimbex Pi
21:47
MB, EX. And if I buy it from Pimbex, I'm
21:51
going to get the exact same quarter oz Gold Eagle, but I
21:54
could also I'm going to save $111.00.
21:57
So I could, I could, I could buy the quarter oz Gold Eagle and
22:00
maybe get myself another three, maybe almost even 4 ounces of
22:04
silver on top of that. Absolutely, Ron.
22:08
Why wouldn't you do that? Why would you want to pay more?
22:11
I mean, you know, this is, this is my, this is my slogan.
22:14
If you want to pay more, that's your business.
22:16
If you want to pay less than, that's Lon's basement business.
22:20
And if you want to pay more, head for the door.
22:23
We think Pimbex is best. That's why I love Evan.
22:26
Pimbex is a sponsor. I feel good about them.
22:28
I have for the last six months. I feel good when I get emails
22:32
from our fellow basement dwellers that are joining us
22:35
right now saying how happy they are with Pinbeck.
22:38
So thank you Pinbeck's for sponsoring Ron's Basement and
22:41
thank you Coin Shop Chris for your weekly shopping update.
22:45
I just want to show people how I can get the same thing.
22:48
And then you get a couple or three or four bonus ounces of
22:52
silver as well. Absolutely.
22:54
And let's get right to the 30 day numbers Ron and we will cut
22:58
off here. Bye, bye.
23:02
Hold on, let me introduce this. This is the moment you've all
23:06
been waiting for. Every week Coin Shop Chris digs
23:09
through the numbers to give you a 30 day update on the on the
23:13
commodities, on the markets that you care about most.
23:16
Coin Shop Chris, what'd you see when you looked at the 30 day
23:19
numbers? Hello.
23:26
Hello. Oh, can you hear me?
23:29
I can. Hear you.
23:31
OK, we're having some technical difficulties.
23:33
You want to do the 30 day numbers.
23:35
Absolutely. Silver was down $1.57 or down
23:41
6.46%. Gold was down $20.30 or down
23:47
point 0.99%. Platinum took a big hit $56.90
23:55
or down 5.40%. Bitcoin finally went down
24:02
$721.06 or down 1.7%. Oil was just down here on
24:11
Pentium bill or down 0.01%, still with the gold ratio 89.31.
24:21
Wow. So that that means I just want
24:23
to reiterate that to our viewer and even those of you that know
24:26
it. But it I think it's worth
24:28
thinking about that if you want to trade let's say American
24:32
Silver Eagles for an ounce of gold that you would have to take
24:35
four tubes that each have 21 oz Eagles, each four tubes of 20
24:41
plus an additional 10 Eagles. So you'd have four tubes and 10
24:45
Eagles to trade Silver Eagles to get one gold oz, correct?
24:51
Absolutely. Wow.
24:53
Crazy, you know, Chris, thank you as always.
24:57
Look, we've had you you provided some incredible information
25:00
today. So thank you, thank you, thank
25:02
you. I want to mention to our viewer
25:04
that if you want to help support Coin Shop Chris, there's a link
25:08
to his PayPal in the description of this video.
25:11
We'll also have a pin comment where if you want to do
25:14
something nice today and want to donate a little money to Coin
25:16
Shop Chris, that opportunity is available for you.
25:20
Never expected, always appreciated.
25:23
And don't forget, please give this video a thumbs up.
25:27
Subscribe to the channel. We are having a big giveaway on
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Valentine's Day, 23 ounces of silver.
25:35
If you want to know how to enter the giveaway, there's a link to
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that in the description of this video.
25:40
It's real simple. And Chris, what did I forget to
25:43
say? Thank you for watching Ron's
25:46
Basement and we'll see you all next week.
25:48
And I appreciate everybody's support and we'll see what
25:52
happens next week. Thanks, Chris.
25:56
We'll see you next week. See you.
25:57
Next week.