Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ✅ WARNING + Silver ✅ - You Best Listen to THIS... (Precious Metals Prices)

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✅ WARNING + Silver ✅ - You Best Listen to THIS... (Precious Metals Prices) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Silver investors best be paying attention, gold investors to
0:06
There are big news stories today, Elon Musk issuing another
0:11
warning to the United States, a silver squeeze and major
0:15
developments, this time in South Korea that have to do with
0:18
martial law. But I think the biggest story of
0:21
the day is this. It is Ron and Susie's 20th
0:25
wedding anniversary. Please join me in saying thank.
0:29
I don't know, what do you say? I feel like I'm asking for a
0:31
compliment for myself. But anyway, very grateful that
0:34
I've been married to Susie for 20 years.
0:36
She is indeed one of the kindest and most loving people in the
0:40
world. Maybe the kind, most kind and
0:43
most loving in the world. But let's dig into what's
0:45
happening right now in the silver and gold market.
0:50
Let's take a look at silver. Let's go do a quick price update
0:53
because we had some good movement this morning.
0:56
We're going to head out here to Pembex and let's get an update.
1:00
Yesterday we were down $0.16 and right now we're at 38 cents.
1:06
OK, We'll come back on and check on that a little bit later and
1:09
see what's happening in the silver and gold market.
1:12
But let's go take a look at interesting developments within
1:16
the silver charts. One of our fellow basement
1:20
dwellers, Michael Quick, sent me this chart yesterday, guys.
1:24
And we've talked about this, the wedge pattern that's forming in
1:28
silver on a rather short term basis, but the silver price will
1:33
need to break out. Now this morning.
1:35
Did we officially break out? We'll kind of see how the day
1:38
goes. But silver has been, Have you
1:40
felt it really holding steady around that $30 mark?
1:45
Yeah. And Speaking of you, basement
1:49
dwellers, thank you for being here.
1:50
It's a big deal when you're here.
1:51
We appreciate you. You're important, you're
1:53
intelligent, you're part of the group.
1:56
Please subscribe to the channel, give the video a thumbs up.
1:58
I won't beg for anything else during this live stream, but
2:02
Silver has been consolidating. Now we also have another way to
2:06
look at this and we're going to go out to X and look at this
2:12
interesting chart. Now this is rock bottom entries
2:16
on X is saying it's go time for silver and this chart here he
2:22
says he calls for a silver squeeze setup.
2:26
As you can see this chart goes back to 2020.
2:29
We have another basically wedge pattern on a long term basis.
2:35
He's saying breakdown at the apex of a four year triangle.
2:40
Some people call these wedges right, Some people call them
2:43
triangles. Measured move target equals a 55
2:47
gold to silver ratio. At $2500 gold we would have
2:51
$45.00 silver. So things are looking
2:55
optimistic. I don't know if you're feeling
2:57
it the way I am. I was talking with Susie this
3:00
morning and we were, we were talking about the silver price
3:03
and she was like, oh, I'm so glad it's up.
3:05
And I said, you know, if we can hold out here for a while in
3:09
this $30, thirty, $1.00 range again and then attempt a
3:14
breakout through that $35 range, I think we're in pretty good
3:18
shape. You know, we got to remember
3:20
nothing goes straight up. We have volatility, right today.
3:24
We've got a little volatility to the upside.
3:26
So we'll take it, right? Feels better.
3:29
We have that volatility, those big moves to the upside, but
3:33
we'll also have big moves to the downside and volatility in the
3:37
end at this point is still our friend because the trend is up,
3:42
up, up in the silver price. Now let's go take a look at gold
3:46
and see what's going on there. I pulled up this chart, A1 year
3:50
gold chart because I thought it showed it best right now.
3:54
Excuse me, in the futures market, we're at 2675, I'm
3:59
sorry, $2675 for gold, but the gold kind of feels the same way.
4:04
If you look at this, this chart where we are now, where we've
4:08
been from where about, oh, what was this the beginning of
4:12
October about the last two months we've been in this kind
4:16
of consolidation pattern, I would call it where like the
4:20
price isn't going up a lot, but it's also not going down a lot
4:24
either. And look, I mean, I'm no, I'm no
4:28
technical analysis guru, but even on this longer term,
4:33
looking at this longer term chart, doesn't that look like we
4:37
also have right, another triangle, wedge pattern,
4:42
whatever you want to call it. Remember, guys, and it makes
4:44
sense, right? When you look at the price
4:46
that's moving along here, it's going to have to either go
4:50
above, it's going to break out basically to the upside or the
4:54
downside either way. And I think we know that the
4:57
fundamental factor supporting both the gold and silver price
5:02
are there and are real, OK? It's looking very, very
5:07
optimistic for both gold and silver, not looking too
5:12
optimistic on other fronts. Elon Musk does have a major
5:15
warning for us again, in something startling that he
5:19
uncovered in a recent tweet that he made on X or whatever you
5:23
call it post. Do you call them tweets still?
5:25
I don't know. Anyway.
5:27
And also major developments this time in South Korea.
5:30
We're going to get to that. Let's go check though on the
5:33
dollar index and sorry, my phone is blowing up for some reason.
5:38
I don't mean to be a tiny bit distracted, but we've got some
5:42
downward movement in the dollar index.
5:44
I want to point this out. I thought this was very
5:47
interesting because as you remember, just back on about the
5:52
22nd of November. So what was that?
5:54
About two weeks ago, the dollar index hit one O 7.55.
5:59
We're down, you know, 1.5 from that, which is a major move in
6:04
the dollar. And that's also coincided with a
6:07
move up in gold and silver, mostly gold, right?
6:11
But the gold price and the silver price seem to be back
6:16
back on, on into their old pattern of reacting inversely to
6:23
the dollar index. Same thing with the bond yields.
6:26
They're down a bit. It's getting interesting now.
6:28
The big one. What's the big money doing?
6:31
What's the smartest guys in the room doing the big money right,
6:36
The elitist of the financial world, Do we want to do we want
6:40
to see what they're thinking is coming down the Pike?
6:42
Do we want to take a glimpse into what they're preparing for
6:46
it? Of course we do, right?
6:48
And the reason why is they usually have kind of the inside
6:52
track on what's happening. And guys, we've got some some
6:56
big changes and expectations for what the Fed is going to do at
7:02
their next meeting, which will be two short weeks from Thursday
7:05
of this week. Let's go out to the CME Fed
7:08
watch tool. I'm going to update it again.
7:11
But yesterday we were at about a 60% chance of a rate cut in
7:18
December and that has shot up all the way to 74%.
7:22
Only a 26% chance that there will not be a rate cut.
7:26
So again, this is the big money, right?
7:29
This is the Chicago Mercantile Exchange, the CME Group, right?
7:33
Here we go. We have 15 days and three hours
7:35
till we hear from our good friend Jerome Powell.
7:39
But the big money is now betting more and more that we are gonna
7:46
have at least 1/4 point rate cut on December 18th.
7:51
Anything larger than that is basically a 0%.
7:55
So sure, there's always a chance that we could get a half percent
7:59
rate cut on the 18th, but certainly not looking likely
8:04
right now. And again, that's the big money,
8:07
right? Those are the bit that's like
8:09
where they make these sophisticated derivative type
8:13
bets on what the Fed is going to do.
8:15
So we want to watch it, right? It's measuring what the big, big
8:18
money traders are doing. And if we get a rate cut on
8:21
December 18th, right, that can only be positive for the gold
8:25
price and the silver price at this point because with all this
8:28
uncertainty, there's a lot of uncertainty in the mark.
8:31
Do you feel it? I feel it right.
8:34
Anybody who can tell you they have a strong grasp on what's
8:37
going to be coming down the road here in the next 2-3 months, is,
8:41
is, is feeding you a bunch of balloon juice.
8:44
OK? There's nobody who knows.
8:45
The only thing I'll say this 100 percent, 100% certainty is that
8:52
in the next two to three months, we're going to have a lot of
8:54
uncertainty. So with certainty, we can rest
8:58
assured there's going to be a lot of uncertainty.
9:00
Now, to a super large extent, uncertainty is good for the
9:07
precious metals prices. So we'll just kind of buckle in
9:10
here for the next two to three months and see what happens,
9:13
right? The Trump election, the
9:15
overwhelming victory that he enjoyed in the election was a
9:19
big surprise, right? That was an uncertainty.
9:22
And the fact that we took it on the chin and silver and gold
9:25
investors was no fun. But guys, this could likely be
9:29
setting us up for a massive move in the silver price and the gold
9:35
price as we head into 2025. What we've gone through, the
9:39
pain and suffering that you've endured over the last, what, 3
9:43
weeks since the election, I call it, nobody else calls it, I call
9:48
it a Black Swan event. OK, you can yell at me.
9:51
You don't have to agree with me. But the, the, not that Trump was
9:54
elected president, right? But the, the, how, how smooth
9:58
everything went #1 and #2 the extent to which he, he won and
10:04
the Republicans won right across the board.
10:08
I mean, if the American people spoke, am I right?
10:12
OK. But that was a surprise, the
10:15
extent to which it occurred. And now we've got all this stuff
10:18
with Elon Musk. And don't forget, we got a big
10:20
warning from Elon Musk, Vivek Brahmaswami, Kennedy, all this.
10:25
I mean, I don't know, right? If we are heading into some
10:28
very, very, the only thing I'm going to give you my speech, the
10:33
only thing that we can say for certain is that we will have a
10:37
lot of uncertainty in 2025, OK Mic drop, the S&P 500 and the
10:44
NASDAQ are at record highs. Do you believe that right.
10:48
We were already in bubbles in the general stock market.
10:52
I don't know, two years ago, four years ago, here we sit
10:58
again in double bubble territory.
11:01
Now we could be in for a big crash.
11:03
I'm hearing some analysts talk about like a 55% crash in the
11:07
stock market, a 40% crash in the stock market.
11:10
There's even speculation out there, right, that maybe the
11:14
powers that be right tinfoil, I'm putting I'm putting on my
11:18
tinfoil hat, but the powers that be are setting up Trump for a
11:23
big failure, right? I mean, who knows?
11:25
And again, that's speculation. I'm, I'm not saying that I
11:28
necessarily believe that or that there's any proof at all that
11:33
that's the case. But, but, but we do know one
11:36
thing for sure. The stock market valuations, the
11:40
tech stock valuations, the S&P 500 valuations based on any
11:45
metric, based on anything, any ratio, price to price to sales,
11:51
price to earnings. It's out of this, out of this
11:53
world, what's going on in the general markets right now.
11:57
But wait, there's more. And a big part of this reason I
12:01
had a great conversation with a guy, Claude Bijay.
12:04
Super sex successful investor from Switzerland yesterday.
12:11
I mean, the valuations, the tech is just, it's crazy right now,
12:16
absolute crazy. It's almost like a Ponzi scheme
12:19
because of all this index based investing that's going on,
12:23
right? Most people don't even look at
12:24
the it's, it's driven these stocks up, but it's become more
12:27
like a Ponzi scheme, the general market because of these index
12:31
funds and people just blindly, you know, I just put money into
12:35
this mutual fund or into this ETF or whatever it is.
12:38
And then the they automatically buy shares without even without
12:43
even analyzing what's being bought.
12:45
And they don't even understand to begin with.
12:47
It's becoming a Ponzi. It really is.
12:50
But wait, there is more just the actual markets, right?
12:56
You got it looks like a it's called the greater fool, right?
12:59
You have to find another fool to come along to buy, buy from you
13:03
what you bought at a lower price.
13:04
OK, but on top of it all, guess what?
13:07
It's a Ponzi. But it's measured in this,
13:10
right? It's measured in paper money,
13:13
which a lot of people would also argue because it's backed by
13:17
nothing is also a Ponzi. I digress.
13:19
Let's look at massive week this week, massive Newsweek this
13:26
week, that will impact the price of silver and gold.
13:30
And we got a guy got to give you another warning.
13:32
Then I promise we'll get to the Elon Musk warning.
13:35
But I'm going to give you another warning.
13:37
We got a lot of fed, the Fed board, they're coming out.
13:39
Hold on a second because I got a feeling this guy's only going to
13:42
be around. You know who I'm going to get?
13:44
I'm going to get one of your friends, OK?
13:46
This guy will put a smile on your face.
13:48
Hold on one second. OK, Guess who we're going to
13:52
hear from today. Can we see that?
13:56
Why can't we? There we go.
13:57
Yeah. Your old friend Jerome Powell.
14:01
Lighting's not. Here we go.
14:02
Our old friend Jerome Powell. We got to We got to savor him
14:06
while we can, because I just have a sneaking suspicion that
14:10
he's going to be gone soon. But it's not just him.
14:14
They're going to roll out the clowns, right?
14:17
They're going to roll out all the Fed governors this week.
14:19
Let's go take a quick look because we got big news coming
14:22
through. It's only Tuesday, Wednesday,
14:25
Friday. We're going to have some major
14:27
news breaking that could impact the price of your gold and
14:31
silver. You want to stay on top of this,
14:33
and I'm going to keep you on top of it if I can get to the right
14:36
page, which we will. This is from MarketWatch.
14:40
It's the economic calendar. We don't want that.
14:43
OK, All right, here we go, guys. So today is Tuesday.
14:49
So tomorrow, tomorrow the Saint Louis, Saint Louis Fed President
14:54
Alberto Musalem. Remember Bullard, the guy from
14:58
Saint Louis Fed the the reason we want to keep an eye on these
15:01
Fed speakers is traditionally we can have massive moves, I mean
15:06
cataclysmic moves in the price of gold and silver when some of
15:11
these Fed speakers would speak. And now they're in speaking all
15:14
the, you know, that they're rolling out the clowns, the
15:16
clown show, all the Fed speakers are out.
15:19
So today, I'm sorry. Tomorrow we have the Saint Louis
15:23
Fed, then we have the Richmond Fed.
15:25
OK, then we're going to get some beige buck.
15:27
And then, oh, I'm sorry. Here, big one.
15:29
Tomorrow at 1:40 PM Eastern Standard Time, the one and only
15:35
Gomer Pyle. I'm sorry.
15:36
Jerome Powell will speak, could be market moving.
15:40
And I'm going to tell you why that has changed from the
15:44
situation we were in two or three months ago.
15:46
And just one second Thursday, we got Fed President Tom barking.
15:50
He's going to be barking away. And then Friday is the big
15:54
kahuna, guys. 8:30 AM Eastern Time, the US employment, the
15:59
jobs report from the Bureau of Labor and Statistics, that
16:03
number that we all, and last month it was only 12,000.
16:06
They're expecting 214,000 jobs to be created.
16:10
And then of course, after that, they got the Chicago Fed
16:13
president foolsby speaking. I think you have a funny name to
16:18
be nominated to the Fed, Cleveland Fed Beth Beth Hammock,
16:22
she should just stay in her hammock and San Francisco Fed
16:26
president who seems like she talks everyday.
16:29
Mary Daly will be speaking. So we're going to hear from all
16:32
the Fed speakers. Why is that a big deal?
16:35
I'll tell you why, OK, Because the Fed, all right, the Fed has
16:40
has regained some of their ability to affect the markets
16:43
some. OK, now this is big.
16:45
This is key to understand. 10 years ago, 20 years ago, the
16:49
Federal Reserve was at their peak, peak power.
16:53
Remember, remember, this is nothing more than confidence.
16:58
This is paper, paper, paper, paper backed by right, the
17:02
Federal Reserve. Note, it says note.
17:06
It's a note. OK, I could write a note, right?
17:08
It's a it's a it's a dead instrument.
17:10
It's a piece of paper. It's not this.
17:13
I moved my camera, so I don't know if this is still going to
17:15
work. Hold on.
17:17
Come on. Focus.
17:19
This is so fun to look at and it won't focus, focus, focus hocus
17:26
pocus focus. Well, anyway, it says silver
17:30
certificate at the top of it all right now, the Fed absolutely
17:35
had a lot more power over the gold price and the silver price
17:39
10 years ago, 20 years ago, right?
17:41
The confidence was still high. We are in a new world right now,
17:45
right? We have a new, we have the world
17:47
has bifurcated. You've got the bricks countries.
17:50
You have everything going on with Russia.
17:52
You've got we got major news. We need to investigate martial
17:55
law. I didn't even know what martial
17:57
law really meant. I have to be honest.
17:59
I have to look it up now. I know I'll share that with you
18:01
a little bit, but we're in a new world. the Fed, if we were, if
18:05
we were measuring it on a scale of one to 10, we'll say 525
18:09
years ago, 10 years ago, 20 years ago, the Fed probably had
18:12
about A8 potency level, right? They had that.
18:15
They had a lot of strength to, to impact the markets in the, in
18:18
the gold and silver prices. Even up to like two or three
18:22
years ago, I'd say they still were at A6 or A7.
18:25
They dropped back maybe to a two or three, and now they're back
18:28
up maybe to a four because there's so much uncertainty.
18:32
There's so much going on that people are trying to grasp to
18:37
something that'll give them a tangible feel as to what to
18:40
expect in terms of monetary policy, in terms of where
18:44
interest rates are going to go. There's so much uncertainty that
18:47
that's one little piece of certainty that they feel they
18:50
can grasp to. It's a mistake because the Fed
18:54
is absolutely losing its ability to have impact.
19:01
So much going on. We're OK.
19:03
Next up, I'm going to talk about Elon Musk.
19:05
Big warning from Elon Musk. But first, let's go out and
19:09
check the gold and silver price again.
19:12
This was about 20 minutes ago. And come on, guys, let's see
19:17
what we got here. OK, Silver up $0.31, gold up to
19:21
dollars. Hey, we'll take it.
19:22
OK. Remember, we're in kind of a
19:24
consolidation phase right now. If you think that the price of
19:28
gold and silver will be heading higher, if you think that gold
19:31
and silver are a good insurance policy, are a good way to
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Now let's talk about Elon. What did Elon Musk say that we
20:34
need to pay attention to? Remember, Elon's heading up the
20:37
Doge, the Department of Government efficiency.
20:41
He's probably like, there's a lot of low, low hanging fruit in
20:44
that job. You know what I mean?
20:45
A lot of easy pickings. But nonetheless, he had this to
20:49
say and it's actually quite scary.
20:52
He points out what I think is a startling, an absolute startling
20:57
fact regarding where we are. Like we are in a debt spiral.
21:01
We are in a doom spiral when it comes right now to where our
21:06
financial situation is in the United States.
21:08
This was just from this morning. America is headed for de facto
21:14
bankruptcy very fast. OK.
21:17
And he, he retweeted this from Wall Street.
21:19
NAV OK. the US government brings and about 5 trillion per year in
21:24
revenue from taxes, fees and tariffs. the US government is on
21:28
pace to spend 1.4 trillion for interest payments on the 36
21:36
trillion in debt during 2025. That will be about 28% of all
21:42
government revenue going to interest payments.
21:46
This guy's is shocking because we know that right now if we
21:52
look at the US debt clock, which don't worry, we'll, we'll go on
21:54
that little field trip here in one second.
21:57
The government spending about 20%, about $0.20 of every dollar
22:01
that you pay in taxes goes just for interest for nothing, right?
22:05
You get nothing. You get nothing for it all
22:08
right, $0.20 of every dollar. And this is pointed out that
22:12
next year we're on pace to hit a level where $0.28 is going
22:18
right. The debt level is growing, the
22:21
deficit is growing. And at this pace just next year
22:25
where I'm wondering where will we be in three years?
22:28
Where where will we be in four years?
22:31
OK, here's just a quick view 150, a 150 year view of the
22:35
United States that what is this show U.S.
22:39
National debt. Wow, Is that as as a percentage
22:44
of GDP? I don't know.
22:46
But like all, like any debt debt chart that you look at is the
22:50
United States, it goes parabolic.
22:53
Look at this 35. This is probably is a percent of
22:56
GDP that is. Yeah, yeah, I'm sure it is.
22:59
We were at 35% in 2007. Look at what we've done in 17
23:05
short years, OK? I don't know.
23:08
I don't know if mean, do you think Elon Musk can fix this?
23:11
Do you think that Donald Trump can fix this?
23:14
Because guys, it is a downright absolute terrifying situation
23:20
that we should be like totally freaked out about in this
23:23
country, but we're not right? We are.
23:26
Maybe you are. How do you feel about it?
23:28
I'll ask you that question. You can put it in the comments.
23:31
But our our fellow Americans, those same people who don't own
23:35
gold and silver, they could care less about the national debt.
23:39
And it is a spiral. It is a Whirlpool.
23:43
And these are real numbers. There's no way out that the
23:47
gold, gold, there's no way out in my opinion, but gold and
23:51
silver because when you get that much debt, the only thing they
23:56
can do is devalue the currency. So the so that the, the the the
24:01
amount of the debt is becomes effectively less by devaluing
24:06
the currency. What is devaluing the currency
24:08
mean? It's the same darn thing as
24:10
saying having super high inflation.
24:13
We know inflation is already going up.
24:15
We have determined that Jerome Powell and the Federal Reserve
24:20
really don't want to fight inflation.
24:23
They're full of it, right? We know that in was it 1996?
24:27
This is going to make you mad in 1996.
24:29
There's meeting notes from a Fed meeting, or maybe it was 2006,
24:34
whatever year it was, Greenspan, I think was still the head of
24:37
the Fed. They were having a meeting at
24:39
the Federal Reserve and that's when they set out this objective
24:43
of 2% inflation. We're only, we're officially
24:46
going to target just to steal 2% of your money every year.
24:51
Think about that. Why the heck should people work
24:54
for this crud, OK, and then automatically lose at minimum 2%
25:00
per year? That's not what's going to make
25:02
you mad. What's going to make you madder
25:04
is that during that meeting, and Janet Yellen was not the head of
25:07
the Fed at that point, she was like a governor or local, I
25:11
don't know, saying, I don't know where she was the governor for
25:13
Fed governor. But they said, well, and
25:16
somebody said, why don't we shoot for zero percent?
25:19
Oh, no, we can't do that. They laughed.
25:20
And they said, well, because if we shoot for 2% inflation and we
25:26
only inflate away the dollar at 2% per year, we can still give
25:30
American people a 1% raise and they'll think they're doing
25:34
good. And they all laughed, right?
25:36
These fancy economists, ha, ha, ha, the American people are so
25:39
dumb. Guess what?
25:41
You're not so dumb. I'm not so dumb.
25:44
We know that inflation is robbery.
25:47
It is robbery, right? Right.
25:51
If we know what it's like to go to the grocery store and people
25:54
are waking up, the article I read pointed out the like the
25:58
labor unions, right? We know the auto workers, the
26:01
UPS drivers, These guys are like, no, you know what?
26:04
If you want us to work for you and you're gonna, you're gonna
26:07
make our money worth less. Well then guess what?
26:10
Butter cups. We want a lot more money and
26:12
more power to them. I'm not pro.
26:14
I'm not making a pro or con union statement, although I was
26:18
when I was in college during the summers, a member of the Steel
26:21
Workers Union Local 110 here in Saint Louis.
26:26
And and you know what, I made a good wage and we worked hard.
26:29
But that's a whole different story that we're not going to
26:32
get into. OK.
26:33
Trump says that they need to relight release the hostages or
26:39
there will be hell to pay. That's the world we're living in
26:42
right now, the Israeli hostage hostages.
26:44
But let's go out. I forgot.
26:46
We need to finish up with our Elon Musk warning Elon.
26:49
Elon is giving us this massive warning and again, guys, This is
26:54
why. And apparently this jumped by
26:55
like, I don't know, 50 billion or 100 billion like instantly
27:00
the other day because the government was like, oh, we
27:03
forgot to tell you we added another 50 billion, 100 billion
27:06
in debt, whatever, right? And they're talking about given
27:09
what? Well, I think maybe it's a
27:10
million, 725 million to Ukraine. It's a mess.
27:13
Everything, everything's a mess. But what that article pointed
27:17
out was here the US national debt.
27:21
But the interest, remember, we are now over nobody's.
27:25
Why are people not making a bigger deal of this?
27:27
We're now paying a trillion dollars a year in interest on
27:31
the debt. You get nothing right for
27:35
interest. That money goes to the people
27:37
that you owe the money to. The you we get as Americans, OK,
27:42
there's our, there's our federal tax revenue, 5 trillion.
27:46
We're paying a trillion. We're paying $0.20.
27:48
And that's going to go up to almost $0.30 on every dollar
27:53
that Americans are paying in taxes are just going to
27:56
interest. This is a debt.
27:58
I haven't done it for a couple weeks.
28:00
This is a debt spiral. I'm going to explain to you
28:02
quite simply why. So put on your learning hat, and
28:06
a lot of you already know this, but the national debt is
28:08
exploding. The national debt exploding.
28:11
Follow my yellow finger makes the interest on the debt
28:15
explode. Now over $1 trillion, like I've
28:18
said four times already, OK? And that guy that put the tweet
28:22
out that Elon retweeted says that that number is going to go
28:26
to, what do you say, 1.4 trillion or 1.6 trillion next
28:29
year? I mean, that's insane.
28:32
What did that guy say? Hold on here.
28:36
Boom, hold on. Let me see if I can remember.
28:40
Did he say that 1.4 trillion? OK, so that's going to go to 1.4
28:45
trillion next year. Guess where all that goes?
28:48
All that interest, all that extra money that goes into this,
28:51
the deficit, OK, Which is the difference between what the
28:55
government brings in and what the government spends.
28:59
But that's going to balloon that number.
29:00
And where does that number go? The deficit feeds right into
29:04
that, right? That's the source for the debt.
29:07
OK. And then what does that mean?
29:09
That means this gets bigger and bigger and bigger.
29:12
And when this gets bigger, interest gets bigger and bigger.
29:14
The deficit continues to get bigger.
29:17
Do you see the spiral? That's it right there down this.
29:22
Somebody needs to put a drain right here.
29:24
Can I draw on this page? Hold on a second.
29:27
This is this. You know what every American
29:31
needs to know this is going on. Hold on here cuz this is
29:39
critical. OK, so did that right?
29:44
There's the green line feeds into the interest, makes the
29:48
interest get bigger, the interest getting bigger makes
29:51
the deficit get bigger. The deficit gets bigger, makes
29:56
the national debt get bigger, which then see that that my
30:00
friends, is a debt spiral. OK, I digress.
30:04
It's a big deal and we need to pay attention to it.
30:07
Let's go out and let's talk about this.
30:10
I thought this was very interesting.
30:12
Is there a bubble in crypto right now?
30:14
Seems like everybody's talking about Bitcoin, digital gold.
30:19
I wonder why they call it that. You ever wonder while any time
30:22
you see an image of a Bitcoin, what's their logo?
30:27
It's a gold coin. Think about that.
30:31
But is there a bubble right now in in Bitcoin and whatever?
30:36
I just found this to be super interesting.
30:38
You know Michael Saylor is somebody that I'm not personally
30:41
very fond of, but someone pointed this out on Reddit, the
30:45
silver degen Club about the $38 billion worth of Bitcoin that
30:52
one company called Micro Strategy headed by Michael
30:55
Saylor now has says this 38 billion would have bought over
31:00
1.2 billion ounces of silver. OK, let's just read this first.
31:05
MicroStrategy, which is a publicly traded company.
31:08
Wait till I tell you about this Michael Saylor in another bubble
31:11
that he was involved in. Anyway, MicroStrategy acquired
31:16
15,400 tokens for an average price Bitcoin of approximately
31:21
$96,000 each from November 25th through December 1st.
31:26
People. That's why some people are
31:27
saying this is like a Ponzi, because this guy, through this
31:30
company Micro Strategy, is issuing bonds.
31:34
This is the way I understand it, correct me if I'm wrong, issuing
31:37
debt on Wall Street and using the proceeds of that debt to buy
31:42
Bitcoin and people are saying that's propping the price up.
31:45
You know, I don't know. Well, look, I'm not anti
31:47
Bitcoin, I'm not anti crypto. I don't own any.
31:50
You have to each their own, okay, buddy bought all that
31:54
Bitcoin through December 1st. According to the US Securities
31:58
and Exchange Commission filing on yesterday, Monday, the firm
32:02
has purchased over 13.5 billion in Bitcoin since November 11th
32:09
and now holds around 38 billion in Bitcoin.
32:13
So one company, one company, MicroStrategy has $38 billion
32:21
worth of Bitcoin, enough to buy 1.2 billion ounces of silver.
32:26
Are you following me here? Basement dwellers, Right?
32:30
That one company in electronic cryptocurrency holdings, 38
32:36
billion Bitcoin, that's enough to buy the entire year's output
32:42
of this. Where is it?
32:44
And we'll pull this up from our old friend Coin shop Chris, our
32:47
new friend, right? That's enough to buy every ounce
32:53
of this, every single oz in the world that's produced this year
32:59
by the silver mining companies. Think about that.
33:02
OK, think about that. Now, one thing I want to point
33:05
out about this Michael Saylor guy who's always giving me the
33:07
creeps from day one. OK, just being honest and
33:10
there's not a lot of people who give me creeps.
33:13
You definitely don't give me the creeps.
33:15
But wait till you hear about this, about Michael Saylor.
33:18
But but you don't give me the creeps.
33:21
I'll repeat that. And I appreciate you being here,
33:23
Right? The basement dwellers, right?
33:26
You're part of the tribe, right? We're part of this group of
33:28
people that love to talk about gold and silver.
33:31
Thank you for being here. OK.
33:33
I know a couple things about you, one of which you're a
33:35
little smarter than the average bear, right?
33:41
And you're nice. So thank you.
33:42
So on behalf of Susie and myself, I don't say that enough
33:46
how important you are cuz this is not Ron tube.
33:48
It's YouTube. This is your channel.
33:50
All right. Oh, Michael Saylor, he was also
33:53
he was like credited from what I read with kind of the catalyst
33:58
that started the tech bubble bursting.
34:01
This company got in trouble for accounting fraud and that was
34:05
like one of the major catalyst that kicked off the back in the
34:09
whatever it was 2000, 2001. I, I, I may have that wrong.
34:14
You can look it up for yourself. But from what I read, there were
34:18
some little monkey business going on in the accounting of
34:21
his companies. And when it was made public,
34:25
that was a lot of people say one of the big catalyst that ignited
34:30
the tech bubble burst. That's the guy who's the the
34:32
spokesman, the the head of the Bitcoin world, just saying.
34:36
And, you know, crypto seems to really have become popular again
34:42
lately, you know, whatever. And here, OK, so, but here's my
34:46
question. This, this, this, this may make
34:52
you mad. This may make you frustrated
34:56
like me. And I'm just kind of, this is
34:58
not a political statement. I'm just kind of saying this how
35:02
I see it. OK.
35:04
First, we're going to talk about something that the Russians
35:08
said. And then we're going to talk
35:09
about Donald Trump. And we're going to talk about
35:11
tariffs. And we're going to talk about
35:13
something that may may raise your blood pressure.
35:16
OK Oh, here. Well, Robert Kiyosaki forgot
35:19
about this. First let's get back to Bitcoin.
35:22
Robert Kiyosaki what 2 days ago December 1st said Bitcoin to
35:26
crash. OK, Bitcoin is stalled short of
35:30
100,000. That means Bitcoin.
35:32
Bitcoin may crash TO60K. If and when it happens, I will
35:36
not sell. Bitcoin will be having a sale.
35:39
I will buy more. I predict Bitcoin to settle
35:41
around 250 Ki guess he's saying in 2025 at this stage of the
35:47
Bitcoin process, price is not important as many Bitcoin blah
35:50
blah blah. So he's saying it's it's going
35:51
to crash and then in the same breath he's saying he loves it.
35:55
He also loves gold and silver. OK, here.
35:59
This is from Reuters. This is what's going on in our
36:02
world right now. I'm trying to get that top.
36:04
There it goes. Sometimes it's hard to do that.
36:06
Reuters exclusive. Russia's VTB, that's a big
36:10
company in Russia. CEO says the BRIC summit was a
36:15
slap in the face for the West. OK, we're going to read.
36:22
The first paragraph of Summit of the BRICS countries, held in the
36:25
Russian city of Kazan in October, was a slap in the face
36:28
for Western nations which impose sanctions on Russia, the CEO of
36:32
Russia's second largest lender, VTB, Andre Coston, told Reuters
36:37
in an interview. 23 leaders came.
36:40
OK, think about that guys, right, 23 of the world's leaders
36:45
came to Kazan for the BRICS summit.
36:47
This is a certain statement, even a slap in the face to the
36:51
American. It is significant that there is
36:54
support for Russian initiatives and a rejection of US policies.
37:00
Now think about the bricks and the bricks.
37:02
Gold standard and the bricks, or I'm sorry, gold backed currency.
37:06
The bricks unified currency that everybody was talking about that
37:11
nobody's thought, what is that? How does this how does this
37:15
impact gold and silver? Stay with me through this
37:18
because there's certain things that aren't making sense in the
37:21
world when things don't make sense, our antennas stick up.
37:24
OK, we know about over the weekend a shocking, absolute
37:30
shocking announcement from Donald J Trump that when he
37:33
becomes president, right? If the bricks countries try to
37:38
create an alternative current and an remember this word,
37:41
alternative to the dollar, 4 words, whatever, however many
37:47
that he will slap 100% tariffs onto those BRICS countries if
37:54
they even talk about it. Think about it, if you want to
37:57
be able to, you're either with the dollar or against the
37:59
dollar, blah, blah, blah, right? OK, number one point, isn't that
38:04
weaponization of the dollar further weaponization and an
38:10
increase in exacerbation, if that's the right word for the
38:13
weaponization of the dollar. Secondly, if they weren't, if he
38:18
wasn't afraid, right, if they weren't afraid that the bricks
38:21
were really on the move, why would the only reason he would
38:25
say that make that proclamation, that extreme proclamation that
38:29
leaves a lot of us shaken? The only reason he would say
38:32
that is if they were afraid that something was really going on.
38:36
But the, the, the, the, the, the, the unbelievable.
38:40
I can't think of a right, the right word.
38:42
You know, this blows me away and I want to get your thoughts on
38:46
this as well. If the Trump administration is
38:51
so concerned about countries using an alternative to the
38:57
dollar, their own BRICS currency to trade amongst themselves,
39:00
which I don't know, quite honestly, I think they have the
39:03
right to do that. OK, Why should we like shove the
39:06
dollar down their throats and say, well, if China wants to
39:09
trade with India, you got to use dollars?
39:13
I don't that that's the side point.
39:15
That's that's this is next thing I'm going to share with you is
39:20
absolutely rattling. Remember, right, Trump is saying
39:26
you are not allowed to use alternatives to the dollar.
39:29
The dollar is king. Well, then my question is why
39:33
the heck is a backing crypto that's an alternative to the
39:38
dollar? That's all we've ever heard,
39:40
right? The bitcoiners, right, all the
39:43
whatevers, all these other cryptos, they all say, oh, it's
39:45
an alternative to the Fiat dollar, get out of the dollar,
39:48
it'll save you. OK, well that would be my
39:51
question for Donald Trump. If on one hand you're going to
39:54
tell the BRICS countries no, you can't even think about using
39:57
crypto, are using an alternative currency that you guys create
40:02
yourself, your own ecosystem, don't you even think about it.
40:06
Then on the other hand, right, he's saying well.
40:10
I support Bitcoin. I support, which is all we've
40:13
ever heard is that these are alternatives to the dollar.
40:16
So then I'll throw out another question.
40:19
OK, what if Russia and or what if China and India want to trade
40:24
with each other and they want to do it with Bitcoin?
40:27
You're in favor of Bitcoin, but that's outside of the US dollar.
40:31
Does that make sense? I don't know, right?
40:33
This is the kind of weird environment that we're moving
40:36
into. Remember what we said earlier?
40:38
The only thing we know for certain is that there's a lot of
40:41
uncertainty in the world and now we've got this absolutely
40:45
shattering, shaking news out of South Korea, and we're going to
40:50
get to that next. But first, I want to say thank
40:51
you to channel sponsor First Mining Gold.
40:54
They had a big news release out this morning, an update on the
40:57
permit that they're working on for their spring poll project.
41:00
You can check that out at their website, firstmininggold.com.
41:03
And Fortuna Mining also had a big news release out this
41:07
morning about share buybacks. They're buying back like
41:11
millions of their shares of stock, right?
41:14
I own both those stocks. I'm not a financial advisor.
41:17
I'm not giving investment advice.
41:19
I will be honest with you and tell you that I own both of
41:22
those stocks. I like both those companies.
41:24
I like Dan Wilton, the CEO of first Mining Gold.
41:27
I like Jorge Ginoza, the CEO of Fortuna Mining.
41:32
They sponsor the channel and that's and that helps us to be
41:35
able to get together. So thank you.
41:37
And if you want to check them out, there's links to their
41:39
websites in the description of the video.
41:43
And and for those of you who are just joining now, the biggest
41:47
news story of the day is that Susie and Ron have been married
41:51
for 20 years. Susie's my wonderful wife helps
41:54
out with the channel. I don't know if she's on the
41:55
live stream or not, but what a wonderful thing we're going to
41:58
get. Now to this other really crazy
42:01
news. Also, before I forget, thank you
42:03
to Jake from Jake's custom Parts for moderating Annie Oakley, the
42:08
one and only in Big 10 the Silvershire And did I miss Don
42:12
Howe? Thank you, Don.
42:14
It's our Daily Dawn. Don, you are very generous.
42:20
I appreciate it. OK, guys, this is crazy news.
42:25
This is our world that we are living in right now and this is
42:29
breaking news. So we're going to have to learn
42:31
about this one together. South Korea declares emergency
42:37
martial law. This is scary.
42:39
And I didn't know what martial law meant, so let's go for those
42:42
of you who may not. And I'm kind of embarrassed, I
42:44
guess I knew, but I just hadn't thought about it in 40 years or
42:47
something like that. But martial law is this.
42:51
Martial law is the replacement of civilian government by
42:55
military rule and the suspension of civilian legal processes for
43:01
military powers. It basically means that the
43:04
military takes over. I guess it came from that idea
43:07
of the Marshall, the Marshall Plan after World War 2.
43:10
Is that right? Martial law In times of civil
43:15
disorder, martial law involves the temporary substitution of
43:18
military authority for civilian rule and is usually invoked in a
43:22
time of war, rebellion, or natural disaster.
43:26
So what is going on in South Korea?
43:28
OK, let's go take a look. This is scary, guys.
43:33
I mean, is this not scary martial law?
43:36
Why suddenly out of the blue is South Korea?
43:40
And I got to be honest with you, I have a little job I do at
43:42
night, a big, big little job, all right, Provides health
43:46
insurance for our family. It's a little school.
43:48
And I know some South Korean families that come there.
43:52
And I know these little kids and I mean, S Koreans are nice
43:55
people. I digress.
43:57
So I'm concerned actually one of the little boys, six years old,
44:01
I bring in these inflatable soccer balls.
44:04
I'm going to tell you a quick story, okay?
44:06
There is nothing in the world like a hug from a four year old,
44:09
5 year old little boy. And I know his mom and dad,
44:12
they're there, they come in, they bring their little guy.
44:16
Oh my gosh, I can't believe Jayden.
44:18
I'm sorry, cutest little boy from South Korea couldn't speak
44:22
a word of English. OK.
44:24
He just came to the United States with his mom and dad.
44:26
His mom and dad are awesome people.
44:29
And this little boy would come into my office every night, once
44:33
a week when he came to see me. This is this I'm going to tell
44:35
you is one of the warmest things in the world.
44:38
He would say finally he could say hi, Ron, but he would before
44:42
he left to go home from school and his mom and dad were there,
44:45
he would come over and he would put his arms out because he
44:47
wanted to hug me. And there's nothing like a hug
44:52
from a four or five year old kid.
44:54
Anyway, I'm sorry. I digress.
44:56
This is actually scary news. What is going on?
44:58
South Korea declares emergency martial law.
45:01
We're going to learn about this together.
45:02
We'll speed read. OK Moments ago, South Korean
45:06
president, I hate all these ads. Drives me crazy.
45:10
OK Oh my gosh, this is Oh my gosh, moments ago, South Korean
45:14
President June Soup y'all declared emergency martial law,
45:19
accusing the opposition party of engaging in anti state
45:23
activities. This is not a headline you see
45:26
every day. No, guys, this is scary and I
45:29
can't read Korean. Here's the headline.
45:32
South Korea's union says government administration has
45:35
been paralyzed because of opposition party conducts.
45:39
South Korea's union says through martial law he will rebuild a
45:43
free and democratic country. What?
45:46
I mean, what, what is going on here?
45:50
Because we just read that martial law was invoked during
45:53
times of of war, natural disaster.
46:00
He vowed to eradicate pro North Korean forces and protect the
46:04
constitutional democratic order. OK, his his approval rating had
46:10
dipped in recent months. That's interesting.
46:13
Yoon's conservative people power party has been locked in an
46:18
impasse with the liberal opposition Democratic Party over
46:21
next year's budget. But that doesn't seem like, but
46:27
that doesn't seem like a reason. OK, so look, here we go.
46:31
Here's his here. Maybe he had a 12% approval
46:35
rating, 14% somewhat approved, but a disapproval rating of 62%.
46:43
So we're gonna have to keep a close, close eye on this
46:46
situation, guys. And because North Korea, South
46:51
Korea is a real tinderbox that nobody really talks about,
46:54
right? And we already know what's going
46:57
on in the Middle East. I mean, where did it go here?
47:00
Remember this from yesterday? This is what we're experiencing
47:03
in the Middle East right now. I think this is one of the best
47:06
political cartoons. This is me trying to understand
47:08
what's going on in the Middle East, right?
47:10
These are all the different countries and their leaders with
47:13
who they don't like. They're pointing guns at the
47:15
people they don't like. That's why if you're anything
47:18
like me, trying to understand what's really going on in the
47:21
Middle East is darn near impossible.
47:24
OK, and then we have Russia. Wait till you see this.
47:28
Look, I'm an American. I love my country, I love the
47:32
founding bothers. I have a self waving American
47:36
flag. But the fact of the matter is,
47:39
from what I can discern, and because I don't see it being
47:42
anything about the war really being reported on the major news
47:45
networks is that the situation in Ukraine is not going well.
47:50
And 0 hedge, wait till you see this published, this infograph.
47:55
Now, this may be from, you know, from the other side, but still,
47:59
it shows what's going on in Ukraine right now.
48:03
And apparently President Biden is preparing another massive
48:08
support package for the Ukrainians, which a lot of
48:12
Americans don't agree with. But this is not a political
48:17
show, so we won't get into that. But I'm just reporting the
48:19
facts. Look at this.
48:21
Watch this infograph. This is 30 seconds.
48:24
And this shows what occurred in and turn the volume down.
48:32
That's, that's Russian advances in Ukraine.
48:37
I mean, it, it appears according to this and according to even a
48:43
lot of the official reports we're getting in the West that
48:46
things are not going good for the Ukrainians in Ukraine.
48:50
Look at look at that, look at those advancements.
48:54
And there's the territory that they held mostly, from what I
48:58
understand, and I'm not an expert in this area, but that's
49:00
mostly Russian speaking territory.
49:04
People that traditionally, from what I understand, actually
49:06
consider themselves Russian. I know they had some votes over
49:10
there, I don't know, a year and a half ago and people voted that
49:13
they wanted. But again, I'm not a political
49:15
guy. I'm not an expert in that arena.
49:18
All I'm saying is when you look at why the heck did South Korea
49:21
declare martial law, I mean, really, that's a little scary,
49:26
right? I don't even want to think about
49:28
our country and what we've got coming up here in the next,
49:31
what, 6 weeks, 8 weeks? What's going on with Russia,
49:36
What's going on in the Middle East?
49:38
This is these are guys we are living right now through some of
49:41
the most uncertain times that most any of us have ever ever
49:46
experienced. That's an absolute fact.
49:49
OK, let's go out and check. I don't I'm let's go check on
49:52
the gold and silver price time for an update basement dwellers.
49:56
If you're on high blood pressure medicine, now might be time to
49:59
good time to take your medicine. This is the pin backs magic
50:02
button and I got I got good news for you.
50:04
You can do this yourself too. If you want to check on the gold
50:06
and silver price, come to the pin backs website go to that
50:10
that little golden triangle there.
50:12
That's the magic button. And OK, we're up $0.33.
50:17
We improved. I'm telling you guys, silver is
50:22
hanging tough. Let's go look at that silver
50:25
chart one more time. We're going to look at the
50:27
futures market now here on Yahoo, Yahoo Finance, and I'm
50:31
going to have some new charts coming up for you soon as well.
50:36
A new platform we're going to be using to look at the silver and
50:39
gold price. Here's silver.
50:41
Come on, Mr. Silver and Susie and I are going to a fancy lunch
50:44
today. Those of you who know, know that
50:47
I'm very frugal and it used to always bother me when Susie
50:51
would buy a soda at lunch. But today it's a special day.
50:55
I'm going to. We're definitely going to make
50:56
sure Susie gets her soda. For those of you who like to
50:58
joke around Silver up $0.40. You know the reason why I don't
51:03
like like, like when I take my family out, I, we now we have
51:07
212 year olds and it already cost an arm and a leg to go out
51:11
to eat. And then sodas at restaurants
51:14
are like 350. What is that?
51:15
It's like you spend another $14.00 on soft drinks.
51:19
I'll be honest with you. A lot of times what I do is I'll
51:21
tell my girls like you get a soda, maybe Susie get one and
51:24
then I'll sip sneak a couple sips myself, you know, because
51:29
the restaurants pay like a nickel for the soda.
51:32
It's like one of their biggest profit makers.
51:33
Anyway, silver's up $0.40. Let's look at the five year
51:37
chart. Why don't we look at that?
51:40
Do you see? Do you see what I see?
51:42
I mean, this is we got a lot to be really grateful for with the
51:48
silver market. I mean, look, we were, we were
51:50
at 20 bucks two years ago and silver and you know, and we had
51:55
a nice run through the end of the year that year, but still we
51:59
were at all here. Yeah, no, we were at $17.00 two
52:05
years ago, October two years ago.
52:07
I mean, look at this move. There's a, that's a strong,
52:11
that's a two year move. Look at this.
52:14
That's a two year look. I can't draw a perfectly
52:17
straight line, but I can draw that line.
52:20
It kind of keeps going like that.
52:22
Do you see what I'm saying? That's what we call basement
52:26
dweller technical analysis. Oh, I forgot the most important
52:30
part going to put a arrow on top.
52:33
Hey well I got your attention. Don't forget check out coin shop
52:36
Chris on YouTube a lot of you already have he is working so
52:39
hard. Fastest growing silver and gold
52:42
channel coin shop. Chris, he's a regular here on
52:46
the channel. Lot of you know him, but if you
52:48
haven't checked him out, go there, subscribe, leave a
52:50
comment, tell him you're a basement dweller.
52:52
Tell him we love him, we support him and to keep up.
52:55
The good work is that guy loves gold and silver.
52:58
He's like the the Fred Sanford we call him of the junk silver
53:03
community. Wow, very, very interesting
53:05
developments. OK, guys, thanks for being here.
53:08
800 of you. You're the best.
53:10
I'll see you soon. Have a great day.
53:12
Thank you, Don again for the Super chat.
53:14
Bye bye.