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YOUR Turn NEXT! 🚨 ALERT 🚨-- (Silver & Gold Record Highs) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 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.