Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / YOUR Turn NEXT! 🚨 ALERT 🚨-- (Silver & Gold Record Highs)

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YOUR Turn NEXT! 🚨 ALERT 🚨-- (Silver & Gold Record Highs) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
What if I told you Gold was hitting an all time high right
0:05
now and that was a true statement?
0:08
Because it is. And why is that so important?
0:13
Even if we're looking at it in Fiat, Unicorn fart dust, U.S.
0:17
dollars, why is it so important that we have gold right now at
0:22
an all time high? We're going to talk about that.
0:24
We're also going to talk about JP Morgan and some breaking news
0:29
they gave us regarding what's going on in gold.
0:32
And don't forget, OK, I'm more of a silver guy myself.
0:36
I own gold mining stocks, but when we talk about gold, we're
0:39
talking about silver and we're talking about platinum as well.
0:44
Also. Have you heard about the gold
0:47
beans? Yes, you heard that correctly.
0:50
Gold beans, it's a craze going on in China right now.
0:56
And when we dig into this gold bean craze, it tells us
1:02
something very important about precious metals.
1:04
We're going to cover that. Plus we got our daily dose of
1:07
gloom and doom. OK, big negative news regarding
1:12
the US economy from no one other than Charles Schwab.
1:16
So guys, we got a lot to dig into.
1:19
Let's get started right off the bat with what is the lead story.
1:23
But then we got another double lead, double kicker story we're
1:27
going to get to at the end of this video as well.
1:29
Thank you for being here. Please give it a thumbs up.
1:31
That helps get the word out. I'm only going to beg you one
1:34
more time for that. And this is indeed Susie's
1:38
basement today. I'll explain to you why a little
1:41
bit later, but let's dig into this first story gold at an all
1:46
time high. Yes, you heard that right.
1:48
But why is that so important, so critical, such a big, big deal
1:55
guys, gold is hitting all time highs right now in Japan
1:59
measured in Japanese yen. OK, I'm going to read you a
2:03
quick little blurb article on that.
2:06
But we what we really need to talk about is why that's such a
2:11
huge deal for us. Bear with me, you know Ron and
2:15
technology, here we go. This is a story out of Bloomberg
2:20
about gold and an all time high in Japan.
2:23
Gold bugs. They're calling us gold bugs
2:26
again. I haven't heard that for a while
2:28
in Japan. Reaping rewards as the yen week.
2:32
As yen weakness persists. Domestic precious metal prices
2:36
have surged almost 20% in Japan. Gold prices up 20% since
2:42
January. Expensive stocks ETF demand also
2:47
adding to the bullions allure they go on to say blah blah blah
2:51
as weakness in the end looks this set looks set to continue
2:55
into next year. Prospects for gold priced in the
2:59
Japanese currency have rarely looked so good.
3:02
Why is this a big deal? This is this is a big deal on
3:06
like 5 different levels. OK.
3:09
Number one, before I forget because I don't think I have
3:11
this in my notes, when we look at this, Japan, I don't know the
3:16
statistics, Somebody look it up for me and tell me in the
3:18
comments, but Japan is one of the largest economies in the
3:22
world. Demand for gold is exploding in
3:27
Japan. That's number one.
3:29
Number two, it's not just Japan that has had record gold prices
3:35
this year. Did you know that?
3:37
What other countries have had record gold prices this year?
3:40
Who can put it in the comments? I want to hear from you.
3:43
Huh. Who can?
3:44
What? Other countries in 2023 have had
3:47
new all time highs for gold. And why is that so important?
3:52
Why? There's Coin Shop, Chris.
3:54
Good to see. And my friend, we thought you
3:56
were missing buried in a pile of Silvershire.
3:59
I I don't. Maybe China.
4:01
Yes. Snake bite.
4:03
Yes. India, yes.
4:05
Reality. Yes.
4:06
And guys you got it and and I want to say Silvershire you you
4:10
may be right on that. I don't know if China also, but
4:14
what I read this morning was that we also had all time highs
4:18
in gold in Australia and in India this year.
4:23
Why you're asking, right. OK, Ron, why is that a big deal?
4:26
Why is that a big deal? Because that shows worldwide
4:30
demand for gold is huge in and and and in those countries, OK,
4:38
those people that are holding gold now everybody's in the
4:42
profit zone, everybody's in the profit zone.
4:45
Remember that key, that key critical concept that us
4:49
basement dwellers that we live on and it's going to be that
4:53
there's a big, big bonus kicker coming our way with this story
4:57
and we got a lot more stories to talk about as well.
4:59
But, but if you're in India, if you're in Australia, maybe China
5:05
is, well, somebody saying China may have had an all time high
5:08
gold price of this year as well. Or if you're in Japan, wait a
5:12
minute. Think about how huge those
5:15
economies are. Japan, Australia and India.
5:21
If you hold gold, if you're if you're a person in that country
5:24
and you have gold, you're in the profit zone, you aren't selling,
5:28
you aren't waiting, you're not sitting with your gold saying,
5:30
oh, if it gets to a certain number of REM nimbies, I'm going
5:33
to sell or if it gets to a certain amount of yen, I'm going
5:36
to sell, no. And that's a huge source of
5:38
demand for gold. Now, when we're talking about
5:40
gold, we're talking about silver in platinum as well.
5:44
Don't forget that it will bleed through to those other metals.
5:48
But those countries are massive #1 from a demand perspective, #2
5:54
when they're at all time highs. People aren't wanting to sell,
5:59
OK? Gold is a worldwide market.
6:03
Let's just quickly review that. That's a that's a key basement
6:06
dweller. That's number six on the list as
6:08
to why we love precious metals, gold and silver and platinum.
6:11
They aren't U.S. markets. They aren't London, England,
6:14
where our friend Richard Cooper, Richard Cooper is joining us
6:18
from today. No.
6:20
Or Neil's Han dynasty. It's not just traded out in the
6:24
beautiful West Coast of the United States.
6:26
No, it's traded all over the world.
6:29
It's a worldwide market. Japan, India.
6:32
What was the other one? Australia.
6:34
Maybe. China.
6:35
Major countries. Major demand for gold.
6:37
It'll bleed through to silver. It is a big deal.
6:40
It's a huge deal. Don't forget it's only a matter
6:44
of time. Let's back up.
6:46
Let's let's put on our fancy economics hats now, right?
6:50
Let's put on our fancy economics.
6:52
That's the. The reason why gold's in an all
6:55
time high in those countries is because gold's valuable has been
6:58
for thousands of years everywhere around the world.
7:00
We already covered that. But the real reason is because
7:03
of currency fluctuations. Currency forex, that's a fancy
7:07
word, right? For an exchange fluctuations.
7:11
So the dollar's been going up, their currencies have been going
7:14
down. It makes gold more expensive in
7:17
their currencies. It's a seesaw, guys.
7:20
OK, don't forget it's a seesaw. I can't ring the bell anymore.
7:24
Chris quinch up. Chris is throwing virtual Ding
7:26
dongs at me, telling me to ring the bell.
7:28
People say they don't want the bell, so I put up.
7:31
I'm going to get back to my other thoughts.
7:33
Susie gets very mad at me because I I go down to roads at
7:36
once. But I'm going to put it there's
7:38
a there's a poll. When you guys later on want to
7:40
go to the home page about the bells, I put up a poll.
7:44
Do you want the bells? Do you not want the bells
7:46
anymore? OK, now back to my other
7:49
thought. It's a seesaw.
7:51
The currencies are seesawing with each other.
7:55
Seesaws just don't go in One Direction, right?
7:58
So the dollar goes up, the other currencies go down.
8:00
But those current the the gold based on those currencies is
8:05
going to all time highs. Guess what?
8:09
That seesaw goes down. And when you look at the dollar,
8:14
I've got a fancy chart. You know, that's the silver
8:20
wedgie. These belong to Jake from Jake's
8:24
custom parts. Guys, this is a longterm chart
8:28
of all boy coin shop. Chris is mad at me.
8:30
This is a longterm chart of the US dollar.
8:33
What's so critical about this chart?
8:35
OK. It goes from 1985 all the way
8:38
through today. That's the US dollar.
8:40
That's the US dollar. Up and down, up and down.
8:43
Like a seesaw. OK.
8:45
Those spots, that's 100 right now it's at 105.
8:49
OK, that's out of out of what is that 15 + 2040 years, only about
8:57
6 years has the US dollar index been this high.
9:02
OK, when the dollar index corrects, gold is going to an
9:05
all time high in U.S. dollars and so is silver.
9:08
I'll go out on a limb and say it and so is platinum, and you may
9:12
not agree with me, that's OK. But outside of that, just the
9:17
seesaw, right? It goes up and down the base of
9:21
the seesaw, also known as the fulcrum, the center point, the,
9:25
the point that the seesaw rests on when it comes to these
9:29
currencies, that seesaw is built on sand.
9:33
It's not built on concrete or a solid foundation of stone.
9:38
No, it's based. It's built on quicksand.
9:41
So those currencies that are, oh, that goes up, it goes down.
9:44
But they're all going down together.
9:46
Dan Wilton, the CEO of First Mining Gold, who's going to be a
9:50
sponsor of the channel officially on Friday, he said
9:55
the way he said it, there's all kinds of ways to say it.
9:57
What he said is it's a race to the bottom.
10:00
All right, I'll ring the bells, but you guys do need to vote.
10:03
OK. Wow.
10:09
And thank you for that super chat.
10:11
Wow, that was very generous. Thank you.
10:16
It's a race to the bottom with these currencies.
10:18
So even though they go, they fluctuate, right?
10:21
Let me look at Even though they fluctuate, they're all going
10:25
down in value together. Let me give you a visual.
10:28
So you're sitting wherever you're sitting right now.
10:30
Maybe you're in your car. If you're in your car, keep your
10:33
eyes on the road. If you're sitting at your house,
10:35
work wherever you may be sitting.
10:38
Visualize all the gold and silver in the world in a pile.
10:42
Beautiful, isn't it? You're rich.
10:44
You got all the silver and gold in the world in your family
10:46
room. Wherever you're sitting,
10:48
visualize all the currencies in the world in another pile.
10:51
Okay, they can print those currencies.
10:54
And they did that. They increased the level of
10:56
those currencies by 40% during the health crisis.
10:59
But guess what? They can't increase the amount
11:02
of silver and gold. So all those currencies, even
11:08
though they fluctuate, can all go down in value at the same
11:11
time. I hope that makes sense.
11:13
It's a big deal that the world is experiencing record gold
11:17
prices. It's only a matter of time until
11:19
the United States experiences record gold prices.
11:23
And when we get to new all time high, when everybody that bought
11:27
gold and U.S. dollars is and the money.
11:30
Thank you've done for the Super chat, my friend.
11:32
That is super generous. Thank you.
11:34
When everybody gets to the point that they're in the profit zone,
11:38
you're going to have fewer and fewer people willing to sell.
11:41
It's going to be rocket fuel. It's going to be exciting.
11:44
We are going to have big parties here in Ron's basement of
11:49
basement. Dwellers are going to be happy.
11:50
Hey, can I ask you guys a quick favor?
11:53
This is from Susie. This is Susie's house.
11:55
Don't forget Ron's basement. Susie's house.
11:58
Susie runs the show. She has this little project with
12:01
the Ron's Basement channel. She's is running the Twitter,
12:06
but it's not called Twitter anymore.
12:07
Now it's called X. But you know what?
12:09
I'm talking about Paige. And she's really trying to like
12:12
increase the number of, I think it's called followers, you know,
12:15
me and technology. I do.
12:17
You Tube. So if you get a chance, in the
12:19
description now of all the videos, she put a link to the
12:22
Twitter page and you can razz Susie over there, OK, because
12:27
she's really working hard. Twitter's a good platform.
12:31
A good independent platform now as well.
12:33
To get information out, she's posting the videos over there.
12:36
Thank you for doing that. That will keep me in good graces
12:39
with Susie. And she might just unlock the
12:41
basement door and let me out of the basement.
12:43
You guys want to see a live stream from the backyard soon
12:47
Maybe the kids trampoline. We could jump up and down like
12:50
the price of silver and gold. Nonetheless, let's move on.
12:53
Let's move on because we got more to talk about Chinese gold
12:57
beans. What the heck, yesterday right
13:01
now I had, I've never heard of Chinese gold beans.
13:05
What does it mean for the precious metals market?
13:07
It's a craze and there's something about it that is super
13:14
duper. Can't believe I said that.
13:16
Very interesting that we need to discover.
13:19
Bear with me as I read you a couple brief pieces from this,
13:26
says Young. This comes from the People's
13:32
Daily Online, which I think is a Chinese newspaper.
13:35
Young Chinese people buy up 1 gram gold beans.
13:40
These are little bitty 1 gram gold beans in popular Newfound
13:45
trend for managing personal wealth says In recent days,
13:50
buying a gold bean on a monthly basis has become a newfound
13:54
trend for young Chinese people to manage their personal wealth.
13:58
One tiny gold bean which weighs only one gram is easily
14:03
affordable. Industry insiders say that by
14:06
buying these gold beans on a regular basis, young people in
14:10
China are actually making a long term investment which is able to
14:15
help them cushion any risk brought about by the fluctuation
14:18
and gold price. In addition to accumulating
14:21
these one gram gold beans, other products made with gold such as
14:23
those inspired by the tiger, the Zodiac sign and new style
14:27
ornaments that are both fashionable and classic and
14:30
design are also popular gold products among young Chinese
14:35
consumers. OK.
14:40
The the anyway, the number of orders for gold products has
14:42
increased nearly 80% year on year.
14:44
Now this actually was well this articles from a year and a half
14:48
ago, but nonetheless it was news to me, Chinese gold beans, I
14:52
guess I need to get a gold bean update, but that was a year and
14:56
a half ago. Sorry I missed that story.
15:01
But nonetheless what does that tell us about China?
15:05
What does that tell us about China and gold?
15:07
We know what the Chinese central bank is doing hoarding gold
15:13
right now. They're over 5000 tons in their
15:16
possession. We know.
15:20
I hope. You know, if you're a basement
15:22
dweller, you know China is the world's #1 producer of gold.
15:27
We also know that on top of that, China is buying gold 30
15:32
metric tons in August alone. What is that?
15:36
What is that telling us? And what about the Chinese
15:39
people? This what's so important about
15:41
this article? Look, we aren't hearing, we
15:44
aren't hearing about that in America.
15:45
Like American millennials are buying 1 gram gold beans every
15:53
week to help protect their wealth.
15:54
Are we hearing that here? No, What?
15:56
I mean, I don't know. Do we have some millennials
15:58
here? But I mean, what are they
15:59
buying? Who knows, right?
16:03
Avocado toast and Starbucks. No offense.
16:07
I love avocados, don't get me wrong.
16:09
But, you know, are they spending $30.00 on some avocado toast?
16:14
Where in China they're spending $30.00 on a gold bean.
16:18
What does that tell us about how gold is is?
16:21
Hello. Oh, thank you, Don.
16:24
Thank you. Well, thank you for the Super
16:26
chat. What does that tell us about how
16:29
gold is valued so much differently in China as opposed
16:34
to the United States? I mean, and what does that tell
16:37
us about what is now the world's second largest economy and
16:40
growing and their importance that they're putting on to gold?
16:45
And when it comes to gold, it comes to silver.
16:48
We know how the Chinese, You know how the Chinese feel about
16:50
silver. You want to hear how they feel
16:52
about silver, right? I did a big series on this not
16:56
too long ago. The Chinese feel like silver is
16:59
vastly under priced, period. They're saying that we need $100
17:08
silver because the current price of silver isn't working.
17:14
OK. There are vocal about the fact
17:17
that if we want to meet the demands, technological demands,
17:21
industrial demands for silver, we need higher prices.
17:27
Oh, go imagine that. They even went as far.
17:29
There was an open letter written to one of the major Chinese
17:32
newspapers where they were. They talked about the fact that
17:35
maybe they need to set up a new price discovery mechanism.
17:40
Do you know what that is? A price discovery mechanism.
17:43
That's a fancy way to say the commacks or the LBMA, the London
17:48
Bullion Market Association, where our friend Richard Cooper
17:51
is. Richard, we're so glad you're
17:53
here for all the way from London, England.
17:56
Anyway, the Chinese are saying we need a new pricing mechanism.
18:04
Are the Chinese thing at the sink called the Shanghai Gold
18:06
Exchange. In Moscow they have this
18:08
developing market called the Moscow World Standard and all
18:12
throughout Asia is part of the Shanghai Cooperation
18:16
Organization. What I hear, just what I'm I'm
18:19
hearing through the Grapevine. OK.
18:21
They're opening new metals markets all over.
18:24
Thank you, Henny. Thank you, my friend.
18:27
Oh, new markets everywhere. Are we going to get a new
18:31
pricing mechanism? Are we going to get a new price
18:34
for silver? We're zooming on silver for a
18:37
second. Think about that for a second.
18:39
If you get 5 or 6 new major legitimate markets and Asia for
18:45
silver, and the price of silver starts shooting up, what do you
18:49
think is going to happen? I'm going to tell you what's
18:51
going to happen. There's people that engage in
18:53
what's called arbitrage, And what arbitrage is, is a fancy
18:57
way of saying they'd spot market pricing errors between markets.
19:03
And they realize, hey, we can go to the Comex and buy silver for
19:09
$30.00 an ounce and we can sell it over in Indonesia or Shanghai
19:14
or Moscow for $38.00 an ounce. And it makes the changes, the
19:18
price almost instantaneous. Obviously, especially in today's
19:22
day and age with electronic everything's moving much faster.
19:27
It could mean a very, very fast, crazy fast move for the silver
19:33
price and the gold price. Me make sure I didn't miss
19:37
anything. And if you think, if you think
19:39
just maybe that you might want to get your hands on some of
19:42
this, right? Look at this.
19:46
This is beautiful. This is a 10 ounce silver bar.
19:49
I've had it down here with me for a while.
19:51
I got big news for you guys. OK, OK.
19:54
I've been thinking about this for a while sometime in the next
19:56
10 years because I am going to put out a new video every day
19:58
for the rest of my life. So if you enjoy my content,
20:01
please subscribe to the channel. Last time I'm going to beg you
20:04
for a thumbs up. You better do it right because
20:06
maybe the bells are going away. We don't know.
20:09
It's going to look at the survey.
20:10
Anyway, big news. Sometime in the next 10 years
20:15
I'm getting a big giant silver chain and I'm going to have a
20:18
jeweler attach this to it. And I'm going to wear it until
20:22
we get the till we get the $65 silver.
20:28
I've lost my train. Oh yeah, but but but, but but
20:31
but big big big big important thing for you to briefly please
20:35
listen to. If you want to get your hands on
20:37
some silver or gold. Go check out pin Becks.
20:40
They sponsor Ron's basement. They make this possible.
20:43
They're great guys. I was talking to him this
20:45
morning. Topnotch organization.
20:48
They check the quality. I heard somebody say this the
20:51
other day. Before you buy bullion, you buy
20:54
the bullion dealer. Meaning you have to make sure
20:57
you're dealing with good, reputable people.
21:00
You guys are the ones who told me about pin backs.
21:03
Several of you. This was months and months and
21:05
months ago. I was a customer.
21:07
I was happy, right? I worked with them before.
21:11
They generously sponsored Ron's basement.
21:13
They've got gold, they've got silver, they've got platinum,
21:16
and they've got great customer service.
21:18
I think Pen Beck's is the best. Pi, MB, EX.
21:21
Enough of that. Let's move on.
21:24
We already talked about Chinese gold beans, right?
21:27
We got big fireworks tomorrow. Excuse me, We're going to talk.
21:30
We're going to talk about the big, big, big, big fireworks.
21:33
Let's talk about the gold price and the silver price.
21:35
This morning, Gold was down eight, nine, $10 per oz.
21:40
Oh, my gosh. But don't forget it's hitting
21:42
records other places in the world.
21:45
Silver had gotten a little pummeled this morning, but it
21:48
keeps fighting back. Are you noticing strength in the
21:52
Silver price in particular? I'm getting a good, warm, fuzzy
21:56
feeling. I just want to mention briefly
21:58
our good friend of the channel, Buddy Rumble, the Louisiana gold
22:03
guru. I want to point out to you
22:05
buddy. Rumble predicted the $1900 low
22:09
in gold over the summer June, July time frame.
22:12
He also then made a bold prediction that it would at 1950
22:15
exactly by Labor Day, which it did.
22:19
But now he shifted his focus. He's a little foggy on gold, I
22:22
guess. Now he shifted his focus to
22:23
silver. Merry Christmas.
22:26
Merry Christmas. I'm giving you an early
22:28
Christmas present. Buddy Rumble sees $32 silver by
22:32
Christmas and we're going to hold him to it.
22:35
It's going to be an interesting ride.
22:38
Let's talk about JP Morgan. You know that JP Morgan, they
22:42
have something very interesting to say about precious metals.
22:46
Yeah, the biggest. And that's whatever they are.
22:49
Biggest. Jamie Dimon, you know, he people
22:53
say they call it the mini Fed, whatever.
22:56
JP Morgan. Yeah, that same JP Morgan who
22:59
two of their traders have been convicted of manipulating the
23:02
silver price and the gold price. Now we're basement dwellers,
23:07
right? We don't.
23:08
We don't, we don't wouldn't even consider that those fine people
23:12
at JP Morgan would be manipulating the silver price,
23:16
right? No, the Comex is on the up and
23:18
up, I'm sure. I'm sure that was just a very
23:22
isolated situation, those two bad boys from JP Morgan who were
23:27
doing naughty things, manipulating the gold price,
23:30
manipulating the silver price. I'm sure there's we don't
23:34
believe there could be anymore manipulation going on.
23:38
Would we do you think there could be some manipulation going
23:41
on right now in the silver market?
23:43
Let me, let me ask you in the comment I want to hear from you,
23:48
do you think and then we're going to talk about what JP
23:50
Morgan had to say about precious metals because that is very
23:53
interesting. But, and for those of you
23:56
listening on podcast, and by the way, I want to mention that too,
23:59
we are now going out on YouTube podcast.
24:02
If you want to listen to this in your car, maybe torture your
24:05
family on a road trip. Yeah.
24:07
If you're mad at your wife or kids say, oh, I got just the
24:10
thing to punish you. We're going to listen to Ron's
24:12
basement for the next hour. You can do it through.
24:15
And it's also on Spotify. That's the other thing Susie's
24:17
doing again. This is turned into Susie's
24:20
basement, right? I get virtual Ding dongs thrown
24:23
at me by coin shop Chris and Susie's telling me everything I
24:26
got to say. Nonetheless.
24:28
Do you think yes or no that right now the silver price is
24:34
being manipulated? Yes or no.
24:37
I need to ring the bell. I guess I'll do it one more
24:40
time. That's the 200 thumb up bell.
24:51
Thank you guys for the thumbs up.
24:52
Yes. Yes.
24:54
Yes. Yes.
24:55
Yes. Yes, yes.
24:56
Cowbell coin shop. Chris did it.
24:58
Yes, clearly. Absolutely, yes.
25:01
Wow. The basement dweller community
25:06
that's you has made their voice known.
25:11
Thank you, Jake. Thank you, my friend.
25:15
And it's overwhelming that people believe the price of
25:19
silver is still being manipulated.
25:22
That's OK, and I'll tell you why.
25:25
I'll tell you why it's OK. Because you know what?
25:28
They can only do it for so long. In the end, market forces
25:33
prevail. World market forces.
25:36
And you know what? Silver and gold are a worldwide
25:41
force. Not only that, not only that,
25:44
but have you considered that they're not only worldwide, but
25:48
they're also This is a new thought.
25:50
You guys are seeing a new light. Bulbs are going off in my my
25:54
life. I think my eyes are lighting up
25:56
because this is a new idea. Let me know what you think of
25:58
this. Not only are they worldwide, but
26:01
they're also my friends. A force of nature, right?
26:05
Silver and gold are part of nature, part of the planet, and
26:10
you cannot defeat Mother Nature. You can't.
26:14
Silver and gold are are the planets money.
26:17
God's money, some people call it.
26:19
This is not a religious show. Everyone's free to believe
26:22
whatever they like. I've supported all, but it's
26:24
nature's money. God's money, however you want to
26:26
say it. I'd never really considered
26:29
that. And and what's critical about
26:31
that is that you can only manipulate nature for so long.
26:36
You cannot damn a Rev a river permanently.
26:40
Sorry. You can damn it for a long damn
26:43
time. There's my one cuss word of the
26:45
show and you can't hold down. You can't manipulate silver and
26:48
gold forever. New thought.
26:54
Let's get back to JP Morgan. What did they say about precious
26:57
metals? Our friends at JP Morgan.
27:00
Ah, hold on here. It's always interesting to hear
27:04
from JP Morgan and Jamie Dimon. The gold and silver manipulators
27:11
This came from Business Insider Headline investors have shifted
27:18
to gold by the most since 2012, driven by central bank's buying
27:27
spree, JPMorgan says. I thought JPMorgan was dead.
27:32
As central banks pile up gold reserves, investors are also
27:35
accumulating the precious metal. JPMorgan reports.
27:38
The bank estimates gold accumulation to be the highest
27:42
level since 2012. But it's uncertain the central
27:47
bank momentum will last. Uh, oh, we need to read about
27:50
that with buyups normalizing last quarter.
27:55
All right, hold on here. A fixation among central banks
28:00
on expanding their gold reserve since 2022 has driven investors
28:04
to also allocate investors to also allocate more of the safe
28:09
haven asset, JPMorgan said. While the bank has found that
28:12
global traders have largely been underweight non gold commodity
28:17
allocations in the past year, their estimated exposure to the
28:21
yellow metal has increased to its highest level since 2012.
28:28
I have a quote and in other words investors allocation to
28:31
gold looks rather high by historical standards at the
28:34
moment and one needs to assume a structural increase and central
28:38
bank demand beyond historical norms due to the fear of
28:42
sanctions or general diversification away from G7
28:46
government bonds to be bullish on gold, JPMorgan wrote.
28:51
And since the invasion of Ukraine, countries are moving
28:54
away from the dollar, blah blah blah.
28:56
We know that the central banks added 230 tons of gold in the
29:02
first quarter, 176% increase from the prior year.
29:08
That's interesting. Turkey was a big mess, JP Morgan
29:13
added while before the pandemic gold.
29:16
This is interesting. Before the pandemic gold ETF
29:20
flows, Gold ETF flows and silver ETF flows.
29:24
Even though it's make believe gold and silver, they are
29:29
important when it comes to the price of the metals.
29:33
So before the pandemic gold ETF flows was the demand component
29:38
exhibiting the highest correlation with gold prices?
29:42
Meaning if more people were buying the gold ETF that made
29:46
the price go up. That was the biggest
29:48
relationship that existed and thus the most important flow to
29:54
watch after the health crisis or as they refer to it, the
29:59
pandemic. I guess I can say that word now.
30:02
It has been central bank flows showing the highest correlation.
30:07
So what that tells us is over the last few years the price of
30:11
gold has been impacted most by the central banks.
30:17
Now, two things, #1. The central banks, This is
30:23
basement dweller 101. This is #4 on the list.
30:26
The central banks are the most sophisticated, most in the know,
30:30
most powerful financial institutions in the world, and
30:36
they're buying gold at a record pace.
30:41
What does that tell us? That's number one.
30:43
I got kicker #2 for you. Coming right now.
30:47
We also know. Thank you, Don for the Super
30:50
chat on how I appreciate that. Number two, we know that demand
30:56
from the ETF's especially the IT changes all the time, but the
31:01
trend lately OK in the ETF's for silver and gold has been down.
31:07
When that turns around that could that could be that's that
31:12
moment we talk about that's when like the United States joins
31:17
Japan India maybe China. I hear Australia with record all
31:22
time high gold. When we get the record all time
31:25
high gold and and you open your computer and go to CNN, right or
31:29
whatever you go to Fox or or MSNBC or whatever you watch and
31:33
you see headline stories gold gold hits new all time high.
31:38
When you get your Wall Street Journal and you open it up and
31:42
you read it and there's article on the front page about gold,
31:45
and then suddenly people start, we don't.
31:48
I don't believe that. I'm not giving financial advice
31:51
here. I am not a believer in the GLD
31:55
or SLV ETF's, OK? It's kind of Unicorn fart dust,
32:00
gold and silver. It's a master.
32:02
It's all intertwined with the COMEX and it's very, very
32:07
suspect. I guess you could say all right,
32:10
but nonetheless, nonetheless. When?
32:12
When? When your neighbor two houses
32:15
up, it's his Wall Street Journal and sees oh gold at an all time
32:19
high and USD and that they're not going to know what we know
32:22
now that it's already in an all time high and yens and remem
32:25
bees and whatever else right or has been, they're gonna make it.
32:28
Maybe I need to get some and put some money in gold because, you
32:32
know, inflation didn't really get fixed and we got problems.
32:36
Maybe I'll buy some gold. Oh, I'll do the easiest thing.
32:39
I won't. I won't.
32:40
I won't do the what the real smart thing to do would be able
32:43
to buy physical. No, I'll just.
32:45
I'll buy the GLD or I'll buy the SLV ETF.
32:49
That's going to create massive upward price pressure on the
32:55
metals. OK, All right.
32:57
We got some doom and gloom. Doom and gloom time.
32:59
Hello everybody. Coin Shop.
33:02
Chris, my friend Paul Orchard. Mary Radcliffe.
33:05
Thank you Annie Oakley. I have by far, I'm very
33:09
grateful, wonderful moderators on this channel.
33:13
Please guys type type 6 to say thank you to the moderators.
33:18
Jake from Jake's custom parts. Neil, Annie.
33:21
Coin Shop. Chris.
33:22
Mary Radcliffe. If I forgot somebody, I don't
33:25
think I did right. I'm good at remembering the
33:27
BRICS countries. I'm even better at remembering
33:30
the moderators on this channel. They help make this community
33:34
great. But you know who really help
33:35
makes helps make this community great?
33:38
That's right. That's me, man.
33:40
There'd be no Ron's basement without Ron.
33:42
No. Wrong, wrong.
33:44
This basement would be here. What makes this a community is
33:47
you. It's not Ron Tube.
33:50
It is YouTube, so thank you for being here one more time.
33:55
I'll beg you. Press the thumbs up.
33:57
It really helps get the word out.
33:58
And if you've not subscribed to the channel, I'm not a big
34:01
subscriber. Beggar, but please subscribe to
34:03
the channel. And don't forget, go to Twitter
34:05
and follow because it's actually Susie's house.
34:09
Ron's basement. Susie's house.
34:13
She's a real snake, you know? She like, snuck that in there on
34:17
me. That's her handle on YouTube.
34:18
Susie's house. I get the basement.
34:21
Actually, that was the deal. I'll tell you a quick story.
34:25
I bought this house by myself before we got married.
34:28
We saw it together. This was actually a belonged to
34:31
the Methodist Church, so it's a holy house.
34:33
Anyway, I moved in. I had all my stuff in storage.
34:36
I slept on an air mattress on the family room floor.
34:40
We got married shortly thereafter, almost 20 years ago.
34:43
19 years? Not.
34:45
Anyway, I've always forget it's been wonderful.
34:49
More than 18 years. I know that.
34:51
Anyway, wow, Don, that is incredible.
34:55
Thank you for that massive super chat.
34:58
My gosh, I don't know what to say except thank you.
35:02
Thank you. Anyway, we move in.
35:05
She starts decorating the house and before I know it I'm like
35:08
getting pushed out of every room and finally I put my foot down.
35:11
Is it any room with the concrete floor?
35:13
That would include the basement, the garage, and the screened in
35:16
porch I'm in control of. I've since lost control of the
35:19
screened in porch, but I still maintain the basement in the
35:22
garage and I'm not budging an inch.
35:24
Let's talk about. Thank you, Don, man, I don't
35:28
know what to say, but I hope we get that level of silver price
35:32
here before we know it. That is awesome.
35:35
That's a record. Thank you, Don.
35:39
All right, guys, let's talk about, let's talk about some
35:43
doom, some doom and gloom. This comes from our friends and
35:47
Charles Schwab. She says a rolling recession in
35:52
the US could morph into a full blown slump and the feds
35:57
unlikely to slash interest rates in 2024.
35:59
That's not good, Okay Weakness in consumer goods and
36:04
manufacturing is being offset by strength and services.
36:07
This is Charles Schwab's chief investment strategist, and her
36:13
name is Bear with Me, Bear with me.
36:17
Her name is Liz Ann Saunders. That's kind of a cute name.
36:20
I like that she says a recession is looming as pain ripples
36:24
across the US economy. Pain ripples across the US
36:28
economy. But investors shouldn't hold out
36:32
hope for a raft of interest rate cuts next year, she says.
36:36
Quote, listen to this. The leading indicators have
36:41
absolutely imploded, imploded, Liz Ann Saunders, the chief
36:47
investment strategist at Charles Schwab said during a She was on
36:50
the Med Faber show. She says.
36:53
Quote, we've never seen this kind of deterioration and
36:57
leading indicators outside of an ongoing recession, she added.
37:01
Saunders was referring to the Conference Board's leading
37:04
economic indicators, which fell for the 16th straight month in
37:09
July. Then she goes on to say, but she
37:12
doesn't think the feds going to cut interest rates.
37:14
That's because guys we are in huge massive trouble in this
37:19
country. All right, it's time for the
37:21
doom and gloom segment. OK, put on your your, your life
37:26
preservers because we are about the drown.
37:28
We are in big trouble in this country. 16 straight month of
37:32
declining leading economic indicator numbers.
37:35
We know that. OK.
37:38
The consumer is done in the United States.
37:44
This is, this is critical to understand.
37:47
I think we're at a point where we can see a paradigm shift in
37:52
how the market perceives the precious metals, gold, silver
37:57
and platinum. And what I mean by that is this,
37:59
right now we're all programmed, right?
38:02
Well, the Fed roses roads and the rates are high.
38:05
That's bad for gold. Well #1, gold and silver and
38:07
platinum have done OK, given especially gold had given the
38:12
headwinds they've been facing with what was the fastest series
38:16
of interest rate hikes in the history of the country.
38:20
OK, not record high, but how fast they did it.
38:24
Gold has done pretty well and we have this, this programming that
38:28
everybody's been been brainwashed or however you want
38:31
to say it and the same well, now you know if rates are high
38:34
that's bad for gold, blah, blah, blah, blah.
38:37
We're getting to a point where the paradigm can shift, and
38:40
maybe it happens tomorrow, because tomorrow we got massive
38:44
news coming out, the CPI numbers, and we could be getting
38:48
to a point where the market wakes up, the market has an aha
38:52
moment and realizes inflation isn't going away, but the Fed is
38:59
become neutered. Yes, this guy.
39:05
Let's get him out because he's got a recession on one side and
39:08
he's got inflation on the other. It's real easy.
39:11
Don't open. Don't open, Ron.
39:13
Don't open it. Here he is.
39:17
You know what he's going to say? He's not going to say this.
39:21
They're going to say it behind closed doors.
39:22
He's going to say, help me, I've been neutered.
39:25
I've been neutered, right. I've been neutered because I
39:31
can't fight one of these. A recession, which is what our
39:35
friend Liz Ann Saunders is telling about.
39:38
And fight this at the same time. Basement dwellers, my friends, I
39:45
know it's a hard concept to grasp, but it's real, right?
39:49
And when the other people, the other participants in the market
39:53
realize and you can call it whatever you want, a
39:55
recessionary inflation, inflationary recession.
40:02
I don't know, whatever you want to call it.
40:03
I like to call it the S word. Yeah, we talked about the S word
40:06
down here, basement dwellers. That's number three on our list.
40:10
Stagflation, right. It's Stagflation.
40:14
And and we're just getting to the point where they're gonna be
40:17
like, well, you know, you know what they what's going to be the
40:20
critical turning point in in tomorrow.
40:25
Tomorrow, more and more people might just wake up to it is when
40:29
they realize that inflation is going to start.
40:34
All right, officially, even. Because unofficially we know
40:37
this is already the case. We already know because there's
40:40
thing called shadow stats, excuse me, where you can see the
40:43
real inflation numbers, but where inflation again begins to
40:48
no matter how high they raise the rates, inflation goes
40:52
higher. Because I got news for you.
40:54
That guy, right. He's been neutered, right?
40:58
Not not. We don't want any harmed
41:00
anybody. I'm, you know, figuratively been
41:02
neutered. He can't control what the
41:05
Chinese do. They can't. the United States
41:09
can't control what Vladimir Putin and Russia do.
41:14
He can't control what North Korea does.
41:15
We can't really control what India does, right?
41:18
And we're going to have inflationary pressures,
41:21
especially especially in the energy sector that are going to
41:27
likely cause much higher prices once again.
41:31
And we know what's happening with food.
41:33
Food supplies on a global, in a global scale are experiencing
41:38
issues which are also creating inflationary pressures.
41:44
They can't do anything about it. Inflation will once again get
41:47
doesn't matter if they keep rates at 5%, if inflation is
41:51
back at 7%. And as more and more people,
41:54
people know anyway. I mean come on man, I mean on
41:57
Wall Street, the joke. I've got buddies, you know, I'm,
42:01
I'm, I'm, I'm, I'm pretty well connected.
42:03
They call the BLS the Bureau of Lies and Statistics.
42:08
Do you really believe those GDP numbers?
42:10
Do you really believe those employment numbers?
42:13
And let's just touch on that as well.
42:15
Regarding the economy, the last pillar, right, the last leg
42:22
holding up the US economy was employment in that showing
42:26
cracks, showing big cracks. And when that comes, it's it's
42:32
it's a freight train coming down the rails.
42:35
They want to talk about soft landings.
42:37
You know what, I could be dead wrong if if three months from
42:40
now everything's still hunky Dory, I'll sit here and say I'm
42:43
dead wrong. I mean, I've kind of been dead
42:45
wrong because three months ago I was probably thinking by now we
42:49
would have this. So I, you know, I don't have a
42:51
crystal ball, don't make any financial decisions based upon
42:54
what I said before we hang up, which we're not going to do yet.
42:58
But I want to get to 300 thumbs up because this could be the
43:01
last live stream where I do the bells, you know, And I had this
43:05
tradition where I would ring the one bell with my nose and people
43:09
said I look like a train seal. And I mean, I I've heard it all.
43:14
Let me make sure there's a few more things we need to cover.
43:18
Ba Ba, bear with me. Tomorrow's the CPI Fireworks.
43:27
Big day for silver and gold. We covered the silver and gold
43:30
price. The Chinese gold beans.
43:33
Yeah, looks like we got it all. We got 300 thumbs up.
43:35
Hey. All right.
43:37
I'm going to do it away from the microphone.
43:43
I won't miss that one. That is painful.
43:46
Hey, guys, Thank you for being here.
43:49
Thank you for being a part of Ron's basement.
43:52
It is a big, big deal. I'm going to synthesize what I
43:56
see going on out there, all right?
43:58
I'm not a Perma bowl when it comes to the silver and gold
44:01
price. But right now what I see is some
44:06
real blue skies ahead for us in the near term horizon.
44:11
We learn from each other. We learn from you, right?
44:13
It's it's all of us, all over. We got 500, four, 154 people all
44:17
over the world. We learn from each other.
44:20
We help support each other. And we're going to be here
44:23
through it all. Don't forget to please come
44:25
back. And I appreciate you being here
44:27
today. I'll see you soon.