Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **SILVER** You Should PAY ATTENTION to This! 🦍🦍 (Gold Price Also)

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**SILVER** You Should PAY ATTENTION to This! 🦍🦍 (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Hey guys, welcome to the live stream, welcome to the basement.
0:04
Silver will either hit one of these two numbers first $24.00
0:10
per oz or $34 per oz. We're going to explore today all
0:15
the reasons why we could see 34 B 424, but realize the 24 could
0:22
definitely happened. But yesterday was a bloodbath.
0:26
Remember a $2.00 down per oz day in silver?
0:31
What did gold do? Down 70 or $80.00 per oz?
0:34
I'm going to take you out to the pin back site right now and
0:37
we're going to take a look at the up-to-the-minute silver and
0:42
gold price because as you know, and I know, silver and gold
0:46
don't trade on the weekends. But guys, look at the gold
0:48
number. We're going to ignore the red
0:50
numbers for right now. Just look at the white number.
0:54
Gold $2300.43, Silver $29.23. Yes, yesterday was a bloodbath,
1:04
but let's keep things in perspective.
1:06
I went back and looked at the charts for you guys.
1:09
And remember this, just back in February we had $2000 gold and
1:17
in October of last year, just what, 7 short months ago, OK,
1:22
maybe 8, but nonetheless we had $1800 gold.
1:26
Think of $1800 gold in October, seven months ago.
1:31
And then look at that 2300 price.
1:33
Look, I know, yeah, you know, yesterday was bad, but we still
1:37
need to keep things in perspective.
1:39
We are still in an upward trending market for gold and
1:43
silver. We're going to talk about the
1:45
big reasons why gold and silver went down yesterday, and we're
1:50
going to debunk them. I'm sorry, I think it's a bunch
1:53
of BSI think more likely there's a coordinated effort to suppress
1:59
the silver price. And gold price, as we know, has
2:01
been going on for decades and decades.
2:05
And when I explain to you what I see and what why, what happened
2:10
yesterday really doesn't make any sense whatsoever.
2:13
Maybe you'll agree with me, maybe you won't.
2:16
Also look at the silver price, $29.00, the white $129.23.
2:22
I want to remind you back in February, silver was $22.00 per
2:28
oz. Silver is up $7.00 per oz since
2:32
February. OK.
2:34
And it was at $22.00 for like what seemed like forever.
2:37
Remember it was in that range and that descending wedgie
2:40
pattern that it broke out of. If you want to get your hands on
2:43
some silver, gold or platinum group metals, here we are on the
2:48
Pinbex site. You can go check it out for
2:49
yourself. Pi MB EX pinbex.com.
2:53
Fun to say, fun to spell, even funner.
2:56
To get the best prices, the best service on the in the online
3:00
bullion purchasing community, do yourself a favor.
3:03
I'll never tell you what to do, but throw Pinbex into the mix.
3:06
Next time you're out shopping for precious metals.
3:09
Do your own due diligence, but I think you'll find what I found.
3:13
Pendex is very, very, very, very hard to beat.
3:17
OK, we're back. Oh, hey, I forgot.
3:22
I owe you a big apology. I'm sorry.
3:24
I was late this morning. I came down to the basement.
3:26
You know, you know how life is, right?
3:28
Problems. I had a big problem.
3:31
I came down here. I was like 45 minutes early.
3:33
Going to get prepared for you basement dwellers, right?
3:36
Number one, you and I look over right, literally right next to
3:41
me is our air conditioner and there's a big giant pool of
3:44
water. OK, here I have proof.
3:47
Proof. Can you see the water?
3:51
This might have been after I kind of cleaned it up anyway,
3:54
down there at the bottom there, it was like totally a pool of
3:57
water. Water everywhere.
3:59
Even the tires of my beloved Honda ATC 70 got wet.
4:03
I was not a happy camper, but I'm going to give you a big tip.
4:07
Those of you who are, are people like me that are maybe kind of
4:11
do it yourselfers. That's a 25 year old furnace.
4:14
Clean the filters, clean everything.
4:16
I also cleaned those tubes, right?
4:18
Because that's where the water drains.
4:19
The water backed up. I'm like, wait a minute, I
4:22
cleaned that tube like three years ago.
4:26
I knew I should have cleaned it sooner, but I didn't.
4:28
Here's your tip. If you have an air conditioner,
4:32
not only keep that tube clean my tube, you can tell it's dirty,
4:35
but you just want to make sure it's blowing.
4:37
But the elbow is what, Clogged up Anyway, you're not here for
4:41
home improvement now, are you? You are here to talk about the
4:45
silver and gold market. Yeah.
4:55
Hold on. All right, we're back.
4:57
Basement dwellers. OK.
5:00
What was the big reason? Well, let's, let's, let's talk
5:03
about something else. And then we're going to talk
5:04
about the two big reasons why silver and gold went down and
5:07
why it's actually good news if they're claiming This is why
5:11
gold went down. And it's even crazier when we
5:14
talk about silver. I'm telling you what, we still
5:17
have many reasons to be optimistic.
5:19
But let's talk about another big picture.
5:22
I don't think we're people are making a big enough deal out of
5:24
this when it comes to the silver and gold market.
5:27
We had big major news. Remember back in December, we
5:31
said it was a new environment, a new world for the silver and
5:34
gold price and we were right. I predicted $2500 silver by May
5:39
or gold, I'm sorry, by May, $2500 gold by May.
5:43
We got to 2445. I was wrong, but we came pretty
5:47
darn close, guys, right? Pretty darn close.
5:50
And I'll give you my up to up to the date prediction for gold
5:54
over the next month here in just a second.
5:56
But we said it was a new environment for the precious
5:59
metals. We'd entered a new age.
6:01
OK. And by the way, I've got fans
6:03
blown everywhere down here. If you hear background noise, I
6:05
apologize. Nonetheless, new world, new age,
6:08
new weather pattern. The tide had shifted.
6:11
Whatever, right? The world was waking up.
6:14
Gold and silver were finding their legs, finding their feet.
6:17
We said that happened in December.
6:19
I stand by that. What's the big news that came
6:22
out this week that we need to be super excited about?
6:27
Hold on. One second here.
6:29
Hold on. And is that?
6:33
Yeah, here it is. Hold on here.
6:35
This is the big news from Reuters.
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Oh, my Lord. There we go.
6:50
Let's get rid of that. Sorry, I didn't have time to get
6:52
all these things set up because of that darn air conditioner.
6:55
ECB in Canada cut rates. Guys, this is big news.
6:59
This is a big deal. Two massive large economies cut
7:03
interest rates. OK, that's very supportive for
7:07
the price of silver. This is a new we're in and look
7:11
at this. There's some really cool charts
7:14
lower here in this article. Who is boy?
7:18
No comment on her, Christine Lagarde.
7:22
OK. Interest rate cuts from the ECB
7:26
and the Bank of Canada this week mean monetary easing is underway
7:31
in the world's big economies. Monetary easing underway in the
7:37
world's big economies. It's happening, OK, It's the Fed
7:40
is next. They're probably waiting another
7:42
couple months, right? So they can juice everything
7:44
right before the elections. This is a good environment for
7:48
silver and gold. If this plays out like it
7:50
should, OK. That's why you've got the
7:52
smartest people in the room saying by the end of the year we
7:56
are going to have new all time highs for gold and it will pull
8:00
silver with it. Silver has found its legs.
8:03
I know, I understand, right? The last week was frustrating,
8:08
in particular if you own precious metal mining stocks
8:10
like I do. It was painful again.
8:13
But we've come a long way, guys. It is not going to be straight
8:16
up. And if we are indeed in an
8:18
interest rate cutting environment, this is good.
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I want to show you these charts. This follows the most aggressive
8:24
global rate hiking cycle in decades.
8:27
Here's where the leading central bank stand and what they're
8:30
expected to do next. All the countries in red have
8:34
already cut rates. Switzerland cut rates, Sweden
8:38
cut rates, Canada cut rates. The Eurozone, right, just cut
8:42
rates as well. Who's next?
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The UK, No. the US, no New Zealand, no.
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Australia, no. Norway, no.
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And Japan is just a basket case. The Japanese, their financial
8:57
monetary system is, I don't know, they're in their own orbit
9:01
basically at this point. Their rates are, oh look, they
9:04
raised rates from zero to .25 anyway.
9:08
Do you see though when you look at this graph, the UK and the US
9:11
are almost in lockstep and probably raised the highest.
9:15
I thought it was interesting Switzerland only went up to
9:18
what, 1.75? But these countries are all
9:21
lowering rates that What do you think that means for the silver
9:25
price? What do you think that means for
9:30
the gold price as well? OK, let's go take a look at
9:35
quickly and do some here. Here's some analysis of the
9:40
current state of the silver and gold market.
9:42
This is from FX Empire. There's a video you can watch as
9:47
well. Let's look at silver.
9:49
Silver markets technical analysis.
9:51
Silver absolutely plummeted during the trading session on
9:54
Friday after the jobs number came out.
9:56
We're going to we're going to tear that apart and hotter than
10:00
anticipated. It appears that traders are
10:02
banking on the idea that the Federal Reserve will have to
10:05
keep monetary policy tighter for longer and therefore could put
10:09
downward pressure on metal. Silver, of course, is
10:12
extraordinarily sensitive due to the fact that it's volatile
10:15
market to begin with. Furthermore, silver also placed
10:19
second fiddle to the gold market.
10:20
So therefore you need to pay attention to gold before silver
10:25
because if gold rallies that could give you a heads up on
10:28
silver. Here's the here's the important
10:30
part. If we can recapture the $30
10:33
level, that would be a very bullish sign.
10:35
But we have just wiped out two days of recovery.
10:39
Underneath we have the 50 day moving average just above 2850,
10:44
an area that previously had been massive resistance.
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So we got support at 2850, OK? Basically, guys, if we get below
10:53
2850, a lot of these technical people think that we're in big
10:57
trouble. Are we going to get the $24.00?
11:00
We could. Are we going to get the $34?
11:03
We could. OK.
11:04
Remember this crazy volatility that we're seeing in the gold
11:09
market and the silver market can go both ways, will go both ways,
11:14
right? The volatility, we, we, we took
11:16
some tough medicine yesterday to the downside.
11:19
We can also have that volatility to the upside and the gold
11:24
market yesterday was a joke, OK? I don't, I don't remember.
11:27
I remember a Sunday night about six years ago when the gold
11:31
market crashed like $100.00 an ounce.
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I don't really remember many days like yesterday.
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So hopefully we won't have any more days like yesterday, but
11:40
we'll, we'll see what, what happens here.
11:42
The other thing I want you to remember about silver and then
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we're going to talk about this double whammy and tear it apart,
11:48
OK? But we're talking about my
11:50
friend John Little sent out this this morning with a great
11:52
reminder, OK, Silver and gold Western spot is a paper price.
12:01
OK, Paper. The spot price that we're
12:04
looking at, the price that went down by $2.00 per oz yesterday,
12:08
That's just a paper price, guys. That's not the price for real
12:13
metal. I know I forget it too.
12:15
I know I forget the measure, my number of Oz or amount of silver
12:19
in oz, not value it in dollars. Have a sip of coffee with me.
12:33
But that paper price is just that, a paper price.
12:37
Shanghai puts the West to sleep like a vet injects spot putting
12:40
down the sick animal. This is remember this.
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And I'm going to have John on tomorrow morning.
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I'm going to have him elaborate upon this for us, but this is
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now, I think, just becoming more common knowledge.
12:51
Do you know this as a silver investor and that that if you
12:55
want to trade gold and silver futures on the Shanghai Gold
12:59
Exchange, you must first deposit an equivalent amount of physical
13:04
bullion as collateral. Comex physical delivery is rare,
13:10
less than 1% of the contracts. So the paper price is on the
13:15
COMEX. The real price is in Shanghai
13:18
Smart Silver stacker, right? Another YouTube, he has great
13:20
content. You probably have watched some
13:22
of his stuff. He says never forget that the
13:26
silver spot price is only the price of a paper contract, OK,
13:32
And it's coming to an end, OK. The physical delivery process on
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the Shanghai Gold Exchange differs significantly from the
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COMEX in terms of requiring actual deposits of physical
13:46
metal up front and facilitating the transfer of ownership of
13:50
that metal upon contract expiration, right?
13:54
Key differences. It is a key difference, guys.
13:57
It's a key difference, number one, that it's a physical
14:00
market. But what's the other big key
14:02
difference that that we can forget about right from time to
14:05
time, but people are really starting to hone in on right now
14:09
that this physical market in China, the price is like
14:13
recently 4 or $5 per oz higher for silver.
14:17
OK, to trade gold and silver on the OK, you gotta, you gotta
14:21
have the have the metal in the vault.
14:24
The amount of metal a trader can buy is limited by how much they
14:28
have deposited with the exchange.
14:31
A contract expiration physical delivery takes place where
14:34
ownership of the pre deposited metal is transferred between the
14:37
buyer and seller. The Shanghai Gold Exchange acts
14:41
more like a physical spot market, facilitating the actual
14:46
transfer between parties. I will get into more of this
14:49
tomorrow with John, but it's really incredible to think about
14:53
the fact that the reality of the situation is that the, the price
14:58
that we all look at, right? We're like brainwashed, all
15:01
right. Are you brainwashed?
15:02
I am OK, right? I am.
15:05
We're in the process of undoing it.
15:06
But we are the spot price that we all follow that our local
15:11
coin shop that all the bullion dealers use is just a paper
15:15
price. And that is changing guys.
15:18
And when it comes to fruition, right, it can, it could break
15:21
the big paper markets. It could, it could be a really,
15:25
really exciting time to be a silver investor, to be a
15:29
physical gold investor, to be a platinum investor as well.
15:33
So the big double whammy, this is going to make you mad.
15:36
So if you don't want to be mad, you know, tune out, OK?
15:39
But this will make you mad. This absolute murder that we had
15:42
yesterday in the silver market, in the gold market.
15:45
They're blaming it on two things, both of which we are
15:49
going to right now. You and I completely disbunk,
15:53
OK? It's a bunch of BS, OK, This
15:56
reason, the reasons why gold and especially in particular silver
16:02
went down yesterday. So let's go to the mainstream
16:05
media and see what they're blaming it on.
16:09
Oh, CNBC. OK, gold slides 3% on double
16:14
blow of a strong jobs report and China data.
16:19
OK, do we really want to read this?
16:22
Well, the gold's pretty. It's better than that picture of
16:24
Christine Lagarde. Look at that.
16:29
And you're probably you're probably looking at that right
16:31
now in your basement. I know you or wherever you're
16:34
joining me from. Maybe you're in your car.
16:38
OK, this guy said listen to what Tai Wong said.
16:41
He said, quote, we will find out today whether gold has the
16:44
stomach to absorb the 1-2 punch. And it was guys, it was a 1-2
16:49
punch BS and I'm going to tell you why right now of stronger
16:53
employment report and a pause in Chinese buying.
16:57
Which should we start with, the strong employment report or the
17:02
pause in Chinese buying? OK, well, let's tear it apart.
17:06
Let's start with, let's start with the now, let's start with
17:10
the strong jobs report. There's a great strong jobs
17:13
report yesterday, which means the Fed's going to be tighter
17:17
with monetary policy. They are going to be able to
17:19
lower rates like our friends in Canada in Europe just did,
17:23
right. The Fed's got, Jerome's going to
17:24
be tough on inflation. And here's the proof we got a
17:28
strong jobs report. We could spend you and me right
17:32
the next hour tearing apart all the minute details of the jobs
17:37
report. It's all a bunch of BS.
17:39
It's the BLS. It should be just called the BS.
17:43
The Bureau of Labor and Statistics should to get rid of
17:46
the L call it the BS or call it the Bureau of Lies and
17:50
Statistics 'cause these numbers are like total.
17:53
You think the dollars make believe.
17:55
The jobs numbers are like, like like Fantasy Island.
18:00
I mean, the way they count. I don't know.
18:02
Where's my guy here? You know, here.
18:05
I I pay him. I pay this guy, what's his name?
18:07
I forget. Don Gartlets.
18:10
I pay Don Gartlets to sit over there and look at me and and and
18:13
cheer me on. I pay him a dollar a year.
18:15
They must have counted Don Gartlets in the in the jobs
18:18
report. But seriously, guys, the jobs
18:20
numbers are insane. It's it makes no that that
18:25
there's there's other people. OK, Thank you.
18:29
I'm going to do the pinger here. All right, let's do it.
18:31
I got to listen to Susie the boss.
18:33
We got 100 thumbs up. That's a big deal.
18:35
You get, you get to listen. This is nice and relaxing for
18:38
you. We need to relax.
18:40
We need to listen to the pinging of some silver.
18:51
I don't know if you can hear that.
18:53
Maybe Susie can let me know because I have all the fans on.
18:56
I have this setting OK, but I can't do any next I'll ring the
19:01
bell later but I have a setting just so you guys know.
19:05
OK that's fine because of all the massive fans blowing the dry
19:10
off the flooded air conditioner. So I have the setting on that
19:13
reduces background noise. So anyway I'll try to ring the
19:16
cowbell later but you probably won't hear that either.
19:18
But why do these jobs numbers are insane?
19:21
They make no sense and they're using that is the reason why the
19:26
gold price went down yesterday, right?
19:29
It's I mean, they countdown Gartlets.
19:31
They count. I don't know the my neighbor
19:32
kids. I let them have a kool-aid stand
19:34
on the corner of our our yard last Sunday.
19:37
It's bottom line. It's a joke, right?
19:39
We know big good jobs are going away.
19:42
People aren't it's just it's a people aren't the labor.
19:44
I think I read something 65% of able bodied people are working
19:51
right. You know, able by only only two
19:54
people are giving up. People don't want to work, but
19:56
they're using that. Oh, that's the reason why gold.
19:59
That's the reason why gold went down $84 or whatever it was down
20:03
at its worst point yesterday. Great jobs number.
20:07
No, not true. OK, I'm sorry.
20:09
We know that. Remember, we're looking at the
20:12
long term, OK? The other thing, if there was
20:16
such great jobs numbers and, and, and silver is an industrial
20:20
metal, right? So that means the economy's
20:23
strong by dynamics working. That should have been good for
20:27
silver, right, 'cause I, I remember, I remember days where
20:30
the, where the, where they had bad economic news and, and
20:33
they're like, well, silver went down because silver's a
20:36
industrial metal, right? So that's why silver went down.
20:40
Well, OK, well, then when the economy's doing so great,
20:43
shouldn't silver be doing great? I'm just asking the question.
20:47
That's and, and, and and either either side of those are
20:50
actually BS. But the fact that silver got
20:53
clobbered yesterday because of good jobs numbers, are you
20:57
kidding me? Really.
21:00
OK, the other reason. Oh, and all the other and all
21:07
the jobs, that's the other thing I got.
21:09
I got a couple more points. All the jobs over the last year
21:12
have all been gone to illegal aliens.
21:14
Really. You know, I mean, what kind of
21:16
country are we living in right now?
21:18
This is just absolutely ridiculous.
21:21
OK, And the other thing then I'll go on to China 'cause it's
21:27
even worse. This fact that they use China
21:29
not is a, is a joke, right? But on top of that, so we
21:33
created all these jobs. Unbelievable job creation if
21:37
there were so many jobs created. They made a mistake.
21:41
They forgot to fudge the unemployment rate cause the
21:44
unemployment rate went up. I mean this none of it makes
21:47
sense but all that's the a good reason to to to torpedo our old
21:53
friends silver right down by $2.00 per oz.
21:57
What a joke. What an absolute joke.
21:59
The other big thing they're using is China.
22:01
Oh my God, China's central bank stopped buying gold after 18
22:06
consecutive months, 17 consecutive months.
22:09
The the P Mac, the People's Bank of China stopped buying gold.
22:14
OK, Oh, nobody's going to buy gold.
22:17
Think about this. That wasn't made during the
22:19
month of May. The People's Bank of China
22:22
stopped because, you know, that's the only reason why gold
22:24
has gone up over the last 18 months.
22:27
Apparently I'm joking when I say that.
22:29
So think this is, this is, and this will make you think.
22:33
And we all like to think, right, if the People's Bank of China
22:38
stopped buying gold in the month of May, they bought no gold, how
22:43
the heck did gold hit its recent all time high in May?
22:47
It was sometime in mid-May. I mean, does that, does that
22:51
not, I mean, is that not actually kind of good news for
22:54
precious metals investors? This massive, this massive
22:58
influence on the gold market, the the Chinese central bank,
23:02
the only reason why gold has been going up, apparently, which
23:05
I'm joking when I say that OK, didn't buy any gold in May,
23:11
right? But the price of gold hit a an
23:14
all time high in May. Does that make you think, right?
23:19
Do you think maybe there's something to that?
23:21
Right. Let me read some more.
23:23
Crazy. This is going to get us.
23:24
This will get your wheels turning.
23:26
We need to keep our wheels turning now, don't we?
23:28
OK. All right.
23:31
Oh, how about this, China, everybody and everybody says
23:35
this as well. China's very secretive about
23:39
their gold binder. They always say like whatever
23:41
the PBOC actually says, they probably bought a lot more.
23:44
We never, we, we're always been told don't trust the People's
23:47
Bank of China regarding their gold purchases.
23:50
Do you think maybe here's another one to get you thinking,
23:53
OK, because we know the BRICS countries, Brazil, Russia,
23:57
India, China, South Africa, Iran, Saudi Arabia, Egypt,
24:01
Ethiopia and the United Arab Emirates, they're all acquiring
24:04
massive amounts of gold. Do you think possibly this is
24:07
just a, you know, partial half tinfoil hat here, but do you
24:11
think maybe China wants the price of gold to go down so they
24:14
can continue to buy more? Just just saying, especially in
24:19
light of the fact that they have a distinct history of being
24:23
secretive about their gold purchases.
24:27
Maybe, maybe not. And on top of that, OK, on top
24:32
of that, the other thing we got to hold on here.
24:38
Well, I got so much to talk to you guys about it's getting Oh,
24:41
thank you, Susie, hold on. We're going to say thank you to
24:44
all our sponsors by putting the banner up guys, I have so we
24:47
have so much more to cover in this live stream.
24:51
It's and let's let's talk about silver.
24:56
OK, hold on here, Silver, gold. Is this it?
25:03
No, that's not it. Is this it?
25:10
We got there's we've got so much more to this.
25:13
This is this is just ridiculous. I'm gonna try to keep on this
25:15
China subject right now. OK?
25:19
I say what the what the I use the H word, but I'll say heck,
25:22
does Chinese gold mine. So we're talking about Chinese
25:25
gold mine, but let's talk about silver in the context of this as
25:29
well. OK, let's talk about silver.
25:32
So we're talking about all this Chinese gold mine.
25:35
What does that have to do with the with silver, right?
25:40
They said the Chinese stopped buying gold, not silver.
25:45
I mean, we talked about this earlier, but silver still went
25:49
down by $2.00 an ounce. This was a gold centric story.
25:53
What we do know about silver is the Chinese are buying silver at
25:57
a record pace like we've never seen before because they need
26:01
silver. They're guys, they're building
26:03
electric cars in China that can compete with Teslas for $10,000
26:08
each. They won't let them into the
26:10
United States 'cause it would destroy the US auto industry.
26:13
These people are making a lot of stuff.
26:16
They're making their own microchips.
26:18
They're making solar panels like nothing.
26:20
The the gold story from China, right, which is BS to begin
26:25
with. But on top of that, the fact
26:27
that how that relates to silver does not make any sense.
26:32
And we won't even talk about India, right?
26:34
They're building. They're gonna have so many solar
26:35
farms. The whole country is gonna be
26:37
nothing but a solar farm. I just heard last night the
26:40
president of India put out a directive to give power to like,
26:43
10 million families rooftop solar panels.
26:47
Think about the benefits of that, right?
26:50
Solar is immediate electricity for 10 million families. 10
26:54
million. All right, Each solar panel has
26:57
at least 2/3 of an ounce, and the newer panels will have even
27:00
more. But anyway, I digress.
27:02
I don't know how many panels are going to go on each roof, but
27:05
they throw the panels up there. Well, first they got to get the
27:08
silver, then they make the panels, then they throw them or
27:11
install them on the roofs of the houses.
27:14
They run the wire. They've got instant electricity.
27:17
I digress. OK, what does the price of
27:20
silver have to do with the fact that the Chinese central bank
27:23
only stopped buying gold? Nothing.
27:25
On top of that, Have you considered the fact that that
27:30
from the individual investor perspective in China, the demand
27:34
for gold remains extremely robust?
27:37
Crazy. OK, The the Chinese government
27:41
told their citizens like six weeks ago to actually stop
27:45
buying so much gold and to start buying silver because they can't
27:49
get enough gold. It's not that they don't want
27:51
the gold or they think it's a bad investment, right?
27:54
They just can't get enough gold to supply all their citizens
27:58
with what they want. And they're like, buy silver
28:00
too. It's you know, so it, this whole
28:02
story is, you know, likely more about COMEX and LBMA
28:08
manipulation. Why, why ask us, ask this?
28:11
Does this make you think, why did the heads of the four big
28:14
bullion banks, 4 big bullion banks go personally visit the
28:20
Shanghai Gold Exchange in the last like seven weeks?
28:23
Right? Because they're in trouble,
28:26
that's why. That's why Liberty and Finance
28:29
has a new video out. I haven't been able to watch it
28:31
yet 'cause I've been doing air conditioner repair.
28:33
But it's with Keith Neumayer talking about the massive short
28:36
position. And I'm hearing other, other,
28:39
other analysts talk about there's a massive short position
28:43
in the paper market. Not only is it leveraged beyond
28:47
belief, right? You know, like so many one ounce
28:51
of silver is sold over like whatever it is 100 * 50 times.
28:56
Some people say 400 times. But there's a massive short
28:59
position, right? Which means they sold it and
29:02
they're gonna have to buy it back at some point in the
29:04
future. That's why that's why they
29:07
nailed the price I think yesterday.
29:10
Most likely, right? Tinfoil, partial tinfoil hat.
29:13
I'll say that I don't know for sure night, but there's no
29:16
shortage of demand for gold in this world.
29:20
There's no shortage of demand for silver in this world.
29:24
I think to think otherwise is a big, big mistake.
29:28
I mean, look at the data, silver in particular, If there's a
29:33
shortage of in in demand for silver, why has there been a
29:37
massive deficit for the last four years?
29:40
Why are the above ground supplies being depleted?
29:43
You got to ask yourself these questions, right?
29:45
I mean, I have to ask myself, Yeah.
29:47
You know, where's the new silver going to come from?
29:50
You know where the new silver is going to come from.
29:52
Dime the brain. I put it.
29:53
I I just put it in a community tab.
29:56
You know where the you know, where the Biden administration
29:58
thinks they're going to get all their new gold and silver.
30:03
This will make you laugh. Costco.
30:06
They might. Well, if we need more silver, we
30:08
can just go to Costco and get it.
30:09
No, it comes from mines in the mine supply.
30:12
We won't go down that path is dwindling, dwindling, dwindling.
30:17
OK, it's going to be interesting.
30:24
What do you think? OK.
30:26
This is this is very, very critical if you understand about
30:31
what happened yesterday as well. This entire bombardment of the
30:35
silver and gold market happened almost immediately after the
30:41
Chinese market closed yesterday, OK.
30:44
And now they're I think a holiday, it's like boat festival
30:47
or something like that. So it's going to be it's what do
30:53
you think's going to happen when the Chinese market reopens for
30:56
both silver and gold? I'm, I'll say, OK, I think the
31:00
Chinese are going to jump all over this buying opportunity.
31:04
I could be wrong, right? We could be going to $24.00
31:07
silver guys, we could be going to, I don't know, $2100 gold.
31:14
I, I think I'm going to turn the camera off and I'll, I'll never
31:17
see you again if gold goes below $2000.
31:22
Some of you might be rooting for that.
31:23
OK, so does this explain why the Chinese bank?
31:29
Why does this explain why the why the Chinese central bank
31:32
supposedly stopped buying gold? I have an article I need to find
31:38
here. That's not it.
31:42
OK. Oh, this is interesting.
31:44
This is from Numismatic News. I've never heard of this site.
31:48
One of our Brian, I believe it has sent this to me.
31:51
Their strong prospect is a OK, is a major physical silver
31:55
supply squeeze developing? What do you think?
31:58
Yeah. Do you think could you see a
32:00
squeeze? Right.
32:01
There's a strong prospect that silver's price could rise much
32:05
further in the coming months. Really.
32:10
OK, we'll skip over all that. OK.
32:13
This is all stuff we know Silver Institute talks about shortfall.
32:18
We know that already. OK.
32:20
Oh, this, this is, this is interesting.
32:23
In recent months, Reliance Industry in India has had so
32:28
much difficulty acquiring physical silver to use in
32:31
manufacturing solar panels and other photovoltaic products that
32:36
the company ended up purchasing Comex silver futures contracts.
32:41
Upon the charity of those contracts, it asked for physical
32:45
delivery of at least 25,000,000 ounces of silver.
32:51
That is significant to the COMEX.
32:53
That is indicative of what's going on in the world.
32:57
The big man. Look, silver's a monetary metal.
33:01
Silver's an investment. We know that, we believe that,
33:06
we know that, right? But it's this industrial demand
33:10
that because you know, we are a rare breed that knows the
33:14
investment potential for silver, right?
33:17
They haven't the the herd hasn't joined us yet.
33:21
But the industrial demand, it's alone can overcome the physical
33:27
market, right? Can overcome the paper market.
33:29
I'm sorry, The private sector's demand for physical gold.
33:32
This is now, is this why China, I want you as I'm as we're
33:36
reading this, I want you to keep in mind, is this why the Chinese
33:40
central bank decided supposedly to stop buying gold?
33:44
The private sector's demand for physical gold in China has been
33:48
so strong this year. The demand for investment
33:51
purposes in that nation rose by 27% in the first quarter of 2024
33:58
compared to the first quarter of 2023.
34:01
So investment demand up almost 30%.
34:05
Gold imports into China have not been enough to cover demand, OK.
34:14
So they can't get enough gold into the country to cover
34:17
demand. OK, so Chinese buyers are
34:21
purchasing gold contracts on the Shanghai Futures Exchange.
34:25
Combined, the volume of gold trading in the Shanghai Gold
34:29
Exchange and the Shanghai Futures Exchange now exceeds the
34:33
volume of the COMEX. Think about what that article
34:39
says guys. The Chinese government can't get
34:42
enough gold into the country to satisfy individual investor
34:48
demand. Do you think maybe, just maybe,
34:50
just maybe hold on, I need to look you in the eye.
34:53
Do you think maybe maybe the Chinese government said, well,
34:59
you know what, we can't get enough gold to supply the demand
35:02
of our citizens when we're buying it also.
35:06
So maybe we'll stop buying it and just let our citizens bring
35:10
it. I mean, what's the difference in
35:12
some countries, right? The gold that's held by the
35:15
government and the gold that's held by the people, it's
35:17
essentially the same. I don't know that it's that way
35:20
in the United States of America, 'cause we don't know how many
35:22
ounces of gold what we're told we have 8000 what metric tons?
35:26
Steve Mnuchkin went there with his girlfriend eight years ago
35:30
and sent out a tweet and said, I love gold or some stupid like
35:34
that, but we can't afford we, we can, we can blow money on
35:37
anything else under the sun, but we can't afford to do an audit
35:40
of the gold in Fort Knox. Do you think maybe because
35:44
Chinese citizens, OK, let me show you something.
35:47
This is going to knock your socks off, OK, we're going to go
35:52
through and we're going to find this picture together.
36:00
There it is. That's Chinese citizens.
36:03
Like, I don't know, eight weeks ago lining up 800,000.
36:08
That's that up there in the upper left corner, 800,000
36:11
Chinese citizens lining up to buy gold.
36:14
So maybe the government says, you know what?
36:18
We don't need to buy it for the central bank.
36:20
We, we can't, we can't get enough gold.
36:21
We'll just let the citizens buy it, huh?
36:24
But that's a good reason to, to, to, to knock.
36:27
Do you think that's a good reason to knock down the price
36:29
of the price of silver by by $2.00 per oz?
36:34
I don't think so. Yeah, I tell you why the price
36:36
of silver went down by $2.00 per oz right there.
36:39
Right. That little those bugs at the
36:42
Comex right there, like the cicadas, they come out of the
36:45
ground every thirteen years. There was something else.
36:48
Oh, I want to look at this. This is from yesterday, but man,
36:51
this is that's guys again. Maybe This is why the Chinese
36:57
central government can't get enough gold.
36:59
Their citizens want their chunk of that.
37:01
That's the entire amount of gold production in the first quarter
37:05
of 2024 for the 16 biggest precious metal mining companies
37:11
in the world. It's a cube that is about what,
37:14
2.3 meters, which is, I don't know, 8 feet by 8 feet by 8
37:18
feet, OK? I mean, that's the size of your
37:21
bathroom. That's all the gold in the world
37:25
that was produced during January, February, and March
37:28
combined. That's why it's it's a precious
37:31
metal, OK, up here in the air, That's where Bitcoin is.
37:37
I digress. Oh, let's go back to this
37:39
article. This this article is awesome.
37:43
To try to mitigate the shortage of physical gold in that
37:46
country, the government ordered the media several weeks ago to
37:52
urge the public to purchase physical silver instead.
37:57
We have reports on the ground that that is indeed the truth.
38:01
OK, Instead of gold, over the past two weeks, the price of
38:06
physical silver in China has risen as high as $4.00 above the
38:10
global spot price. We've covered that ad nauseam.
38:13
Between strong physical demand in India and China, there
38:17
appears to be good prospect of a much higher silver price soon.
38:23
OK, yes, Amen. We like that numismatic news.
38:28
Really great information. OK, really great information If
38:32
you heard about Project in Bridge, you're what what do you
38:35
think's going to happen when the dollar goes bye bye, huh, right.
38:39
Or as the dollar goes bye bye and it's already started Goldman
38:44
Sachs right? It's they're they're the ones
38:47
who coined the term de dollarization.
38:50
It's going on right now. The our leaders will admit to it
38:54
hesitantly, right? They'll they'll admit and say,
38:57
well, the dollar we know we didn't really want to be the oh,
39:01
thank you. We got a super chat.
39:03
Hold on here. All right, Hey, Clifton, Cliff
39:11
Moberg, thank you for the Super chat.
39:13
Silver is pretty so is that super chat.
39:17
So are you Cliff. Thank you, my friend.
39:19
Thank you for the Super chat. OK, but it this this, this new
39:23
thing called Project in Bridge. And yes, when the dollar, when
39:28
the dollars status is the world's reserve currency, it
39:33
goes down, guys, it's going to mean big inflation.
39:37
I almost said hyperinflation. It could be hyperinflation, but
39:40
at minimum it's going to be big, big inflation because as the
39:44
world moves away from the dollar.
39:46
And yes, we're going to talk about June 9th.
39:48
And yes, I will have John Little on here tomorrow to talk about
39:52
June 9th. That's tomorrow.
39:54
The big deal potential, right with the Petro dollar.
39:59
But when they move away from the dollar, whether it's the Petro
40:02
dollar, whether it's the Chinese, oops, I I dropped.
40:06
Hold on. Oh, brother, we're having some
40:11
technical difficulties. Here we go.
40:14
Susie's back. Everybody say hi to Susie as
40:19
they move away from the dollar guys, OK As they move away.
40:24
People don't need the dollar. Those dollars come back to the
40:27
United States. That makes the dollar worth
40:29
less. That's less than it's it's, I
40:32
know it can seem very complicated, but real and a real
40:35
simple, easy way to think about it as the world moves away from
40:40
the dollar, 'cause remember, the dollar's just paper, right?
40:43
Based on confidence, based on trust.
40:51
And as the world moves away from it, that's less demand for the
40:55
dollar. And what happens when there's
40:58
less demand for anything, It becomes less valuable.
41:02
And when the dot went, and if we're measuring the cost of
41:05
gasoline or bread or houses or anything in dollars and it
41:12
becomes less valuable, that means inflation goes uppity,
41:17
uppity, uppity, right? I mean, because in a nutshell,
41:21
right, since since they took, since they took, If you don't
41:24
know this, and if you do, it's fun to review.
41:27
I'm going to ring the cowbell, but you're not going to hear it
41:32
because I had noise cancellation on, because I had fans blowing,
41:35
because our air conditioner blew up this morning anyway, when
41:39
they took the United States off the gold standard.
41:41
What a tragedy, right? Richard Nixon said, oh, I'm
41:45
temporarily, you know, removing gold as the back end for the US
41:49
dollar temporarily. You can trust anything I say
41:52
temporarily, right, Right. They never went back, right.
41:56
And after that, the dollar was the dollar was in trouble.
41:59
So they used military might, military force, and they forced
42:04
the Saudis into agreeing to basically will protect you if
42:09
you make sure that oil is only traded in dollars.
42:11
And that created huge demand for dollars, big demand, right,
42:16
Value in the dollar because everybody needed dollars because
42:19
everybody needed oil, right. OK.
42:22
So all those dollars then that were being used to sell and buy
42:26
oil when they got when the Saudis got them, when anybody
42:29
got dollars, they needed something to do with them. the
42:31
United States says we got an idea.
42:34
Hey, we'll help you. We'll help you out on that one.
42:37
We'll let you buy Treasuries. So it allowed the United States
42:40
to borrow and to get to this point where we're at.
42:44
Are we almost at 3536 trillion dollars in national debt, right?
42:49
Yeah. Yeah.
42:49
We did the same thing to China 25 years ago.
42:53
Yeah, China, sure, we'll buy all your stuff with dollars.
42:57
But here's the catch. You got to buy Treasuries with
43:00
those dollars, and that's what they did, right?
43:03
But the Chinese had over 3 trillion in Treasuries.
43:06
And what do they have now, right?
43:07
They've been selling them. Now they only have like 700
43:10
billion or eight, 900 billion maybe.
43:12
Whatever the number is, they're getting rid, they're sending the
43:15
dollars back home. Now, if this Inbridge, we're
43:20
going to talk about Project Inbridge's new financial system,
43:23
they're testing right between the BRICS countries.
43:25
But if all that stuff catches on, right, and we know countries
43:30
are now starting to sell the oil in Chinese yuan, it could send a
43:33
flood of dollars back to here the United States, which will
43:38
make the dollar worth less, which I forgot this channel's
43:42
about silver and gold. When the dollar becomes less in
43:45
demand, when the dollar becomes, I'm not going to say worthless,
43:49
worthless could happen, could right.
43:52
But when it becomes worth less as it becomes worthless, right?
43:57
In real terms, right? When the price, when the a loaf
44:01
of bread, what's that cost now? 2 bucks when the loaf of bread
44:04
cost 12 bucks, 20 bucks right? That's when you're gonna be
44:10
really happy that you own silver and that you own gold.
44:13
So let's go quickly to take a look at what the what's going on
44:17
with this project in bridge. Oh, and then I got we got a lot
44:23
more to cover guys, it's this is a big day bonus.
44:26
We got some bonus material here toward the end.
44:30
I am going to have Bill Holter on for an interview next week,
44:33
not on a live stream, but a lot of you love Bill Holter.
44:36
I'm a big fan of his and I cannot wait to have him on.
44:39
This is from Reuters. OK?
44:41
This is not from some off brand, off brand website or some guy in
44:48
his basement in Saint Louis. This is from Reuters.
44:50
Saudi Arabia joins the Bank of International Settlements and
44:54
China OK LED central bank digital currency project.
45:00
So now this was big news, right? It made Reuters OK Saudi Arabia
45:05
has joined the China dominated central bank digital currency
45:09
cross-border trial in what could be a nether another step.
45:14
This is Reuters Western media bear that in mind towards less
45:18
of the world's oil trade being done in U.S. dollars.
45:22
The move announced by the Bank of International Settlements,
45:25
that's the the Bank of the central banks, as far as I'm as
45:29
far as I'm aware. On Wednesday, we'll see Saudi's
45:33
central bank become a quote UN quote, full participant in
45:36
project in Bridge. Remember that a collaboration
45:41
launched in 2021 between the central banks of China, Hong
45:46
Kong, Thailand and the United Arab Emirates.
45:51
This is the world moving away from the dollar, OK?
45:56
The BIS is a global central bank umbrella organization which
46:00
overseas. The project also announced that
46:02
Enbridge had reached, quote, minimal viable product stage,
46:07
meaning it will move beyond the prototype phase, meaning it's no
46:12
longer a prototype, OK? This is happening OK, Roughly
46:17
135 countries and currency unions representing 98% of the
46:22
global GDP are exploring central bank digital currencies.
46:27
But the new technology they use makes cross-border movement both
46:31
technically challenging and politically sensitive.
46:38
OK, here we go. Quote, the most advanced
46:40
cross-border CBDC project just added a major G20 economy and
46:46
the largest oil exporter in the world.
46:49
That's Josh Lipsky who runs the global CBDC tracker at the US
46:55
based Atlantic Council. Quote, this means in the coming
46:58
year you can expect to see a scaling up of commodity
47:02
settlements that would be oil on the platform outside of dollars.
47:08
So, so these transactions, which in the past would have required
47:14
U.S. dollars, would have created demand for U.S. dollars are no
47:19
longer going to need dollars at all 'cause they're going to be
47:21
done on this new platform. What happens when there's less
47:25
demand for anything? The value goes down.
47:28
What happens when there's less demand for the dollar?
47:31
The value goes down, right? It's chop, chop, chop, chop,
47:36
chop, chop. Like you're chopping down a tree
47:38
with an axe. Another chip, another chip out
47:41
of the hegemony that the United States has enjoyed, enjoyed in
47:46
the in the hegemony of the US dollar.
47:48
OK, something that was already underway between China and Saudi
47:52
Arabia, but now has new technology behind it.
47:58
Very interesting. Bye, bye, dollar.
48:03
You've been abused, right? Unfortunately, right.
48:06
Maybe we're wrong. We'll see how it all plays out.
48:09
OK, here, let's look at this. Oh, June 9th.
48:17
Here we go. This is I'm having John on
48:19
tomorrow. This is John Little, who's
48:21
becoming pretty famous in the precious metals community, and
48:24
rightfully so because he's digging and digging.
48:27
This guy kind of, I won't say broke the story, but but made it
48:33
more well known about the fact that the the defense industry
48:37
uses massive amounts of silver. The space industry uses massive
48:42
amounts of silver. Is that maybe why they're trying
48:45
to keep the price down? I don't know.
48:46
But nonetheless, John, who will be on tomorrow, I won't say that
48:50
again, is talking about this June 9th.
48:53
Mark your calendars for June 9th, the end of the US dollar as
48:57
the global reserve currency. On June 9th, in the year of our
49:02
Lord 2024, an agreement between the United States and Saudi
49:06
Arabia to sell Saudi oil in U.S. dollars exclusively ends.
49:12
Saudi's Prince has already notified the US that this
49:16
agreement will not be renewed and they will no longer
49:19
necessarily accept exclusively U.S. dollars.
49:24
And I think that's a Black Swan. So we'll talk to John about this
49:30
tomorrow. But, and I heard Andy Scheckman
49:33
mentioning this in a recent interview.
49:35
You know, this is big, big news, guys.
49:37
Potential big, big news if the Saudis indeed even pivot away
49:44
with part of their oil production now not needing to be
49:48
paid or more of their oil production not paid.
49:51
Again, less demand for dollars. Anything there's less demand for
49:54
becomes worth less, and when things become worth less, prices
49:59
of other things compared to that become more valuable.
50:03
Think silver and think gold. Very interesting.
50:06
So I was listening. So Bill Holter, I get the
50:08
pleasure. I just found out before I came
50:10
on of interviewing him on June 18th.
50:13
I'll do a recorded interview with him.
50:15
I'm a huge fan of Bill Holter and I can't wait.
50:19
I was actually listening to him talk with Andrew McGuire last
50:23
night and I, some of these are my thoughts, some of these are
50:26
there. So I'm not quoting anyone when I
50:28
say this, but these are things that that kind of came in into
50:32
mine last night night. Well, there's a lot of
50:34
different, I got a lot of crazy miscellaneous points.
50:38
This there's nothing to do with Bill Holter, but Walmart is
50:41
running out of people. People won't work at Walmart.
50:45
OK, Their annual average salary for a family of four, a person
50:51
who works at Walmart, the average annual salary is below
50:55
the poverty level. So no wonder people don't want
50:58
to work at Walmart. People are either giving up and
51:01
don't want to work, OK? That's why we only have 65% of
51:05
able bodied people working in this country, OK or right, They
51:10
work two or three jobs and they work 74 or 84 or 94 hours per
51:15
week. This is not healthy, right?
51:18
This is not sustainable. This is not the sign of a
51:22
healthy economy, guys. I'm telling you before the
51:26
election, we're going to have some type of serious, serious
51:30
turmoil in this country. You can mark my words on that,
51:33
OK? The problems, Bill, I believe
51:37
Bill Holter said this. My notes got kind of jumbled up.
51:39
But think I want you to think about this.
51:41
The problems in the United States that I want you to go
51:45
back what? How many years would that be?
51:47
16 years. Go back 16 years to the great
51:50
financial crisis. Remember that the stock market
51:53
crashed and the problems that caused the great financial
51:57
crisis were never solved. Never, never fixed, OK?
52:03
And now the reality is where we are right now, the situation is
52:08
exponentially worse. OK, We are not in a healthy
52:13
environment right now, But Bob, the number of homes, here we go.
52:19
The world and the BRICS countries are waking up to this,
52:24
right? They know that the United States
52:26
financial monetary system, right?
52:28
Is, isn't, isn't really, I mean, it is duct tape.
52:32
It is duct taped and, and stapled together, right?
52:37
It's, it's like it's synthetic, it's fake.
52:40
The world is knowing this. The BRICS countries know this.
52:42
They're waking up to it. And they realize the dollar,
52:46
this is my term, the dollar has become a never ending cluster
52:50
bomb of promises, right? Because that's all it is, is
52:53
promises and debt and credit. And they're waking up.
52:57
They're like, this isn't fair. This is not fair.
53:00
They want to get us in debt. These emerging market countries
53:03
are realizing, right, that the system, the dollar system does
53:08
not work in their favor. It's credit based, it's debt
53:11
based. And they keep getting dug deeper
53:14
and deeper into these holes, right?
53:17
A never ending like series of promises, OK, that never get
53:23
settled in anything real, right? Just more debt, more debt, get
53:28
more debt, take more debt, right?
53:29
All paper, all, you know, all just the paper stuff, right?
53:33
Like this. Hold on, let's look at this
53:36
'cause it has been a while. Here it is this guys, this is
53:48
this is this right extras pyramid.
53:52
For those of you who don't know, it's an upside down pyramid that
53:55
shows that everything in the world rest anything monetarily,
54:00
financially, it all rests on a very, very small solid
54:05
foundation of gold and silver below it.
54:10
OK, everything above that is synthetic, right?
54:13
Bank money, base money, government bonds, corporate
54:16
bonds, all that's debt. It's all credit.
54:19
It's all make believe. OK, that's the reality.
54:23
This chart, this chart was, was was developed by John Exter who
54:29
worked for the Federal Reserve. He only died like, I don't know,
54:33
1520 years ago. This is real.
54:36
This is what we're living in right now in the numbers, like I
54:39
said, right? The, the, all that synthetic
54:43
stuff above that's resting on that tiny point of silver and
54:48
gold. It has grown exponentially over
54:52
the last 16 years. We really are in a period like
54:56
no other in the history of the world.
54:59
I mean, there's a lot going on, a lot of massive change, a lot
55:03
of scary situations and, and we have to be prepared.
55:08
I don't want to scare you. I don't need Mr. Tinfoil hat,
55:11
right? Maybe everything's fine, right?
55:14
Honestly, I kind of felt this way 16 years ago after the great
55:18
financial crisis, like it's all funny money.
55:21
It's all whatever the, the, their ability to perpetuate this
55:25
system has been amazing, right? So maybe I'm wrong.
55:28
Maybe everything winds up Rosie. Maybe we truly can just print
55:33
money infinitely, right and continue to rack up the national
55:38
debt infinitely and everything will be OK.
55:43
I don't know, right? I guess we're going to find out,
55:45
but I don't think it is. I don't think history allows for
55:48
that. And and I think it's important
55:51
that we keep ourselves very, very preferred here.
55:54
I heard, OK, I heard Bill Holter say this and I agree with this.
56:00
So the crypto currencies, I find this very interesting because
56:03
I've said this as well. This is, this is I want to hear
56:06
what you think about this crypto currencies and even the gold and
56:12
silver ETS. So the crypto currencies have
56:15
kind of come on the scene in the last 10 years.
56:17
Prior to that, I think it was around the year 2000, we had the
56:20
silver and gold ETS, the SLV and the GLD.
56:25
May may this is this is a little tinfoil hat here.
56:30
I'm saying that about myself because I've I've said this same
56:33
thing in the past. May have been established just
56:37
as a way to funnel money away from real silver and gold.
56:43
Think about it right. I said that about about Bitcoin
56:47
in the past. I'm not an anti crypto.
56:49
I'm not an anti Bitcoin guy. I know the blockchain is awesome
56:53
and the most reliable accounting system in the world, but the
56:56
crypto currencies and I think I heard Bill Holter say this, our
57:03
digital air is how he said it and they kind of are right.
57:08
OK, and you got to admit they're they're they're they're I, I
57:11
love the blockchain, but the actual crypto currencies are
57:15
digital air. I know they're valuable.
57:17
I know and so is the US paper U.S. dollar blah blah, blah,
57:20
blah, blah blah. I'm a silver and gold guy, but
57:22
were these ETFs back around the year 2000 were the crypto
57:27
currencies where they developed as a way?
57:30
All right, a relief valve is what I I used to use the example
57:34
of my hot water. I need to get a new hot water
57:36
tank here in the basement hot water heater.
57:38
And they made us put on this like relief tank.
57:42
So if the pressure built up too much in the hot water tank, it
57:46
would be dissipated into this. I don't know, looks like a
57:48
basketball size thing like a pressure relief tank, right?
57:53
Is that why is that why back in 2000 range or back whenever it
57:57
was that the SLV and the GLD were were established as a way
58:01
to funnel money out to more electronic silver and gold?
58:05
Is that why even crypto currencies were developed,
58:09
right? Because let's face it, look, I
58:11
love you crypto currency people and that's great.
58:14
I'm not saying I I, I'm, I'm just saying my belief that I
58:18
don't really believe in crypto currency.
58:19
I think it's great that you do and I think it's also great that
58:23
these crypto people, we, you know, if you if me and you, if
58:27
you're a silver and maybe and some of some people are into
58:29
both and that's great too. But if we got a room of 20
58:34
people, twenty of which were die hard gold and silver people and
58:38
the other twenty were die hard cryptocurrency people, we would
58:42
be agreement in agreement like we'd be brothers, man on the
58:46
whole system. All of our all of our research
58:50
we've done, all of our beliefs would be very similar except for
58:53
the vehicle by which we decide to use to get out of the Fiat
58:59
money system. OK, so anyway, now let's let's
59:04
think about what I just said in the context of this, OK?
59:09
Did they develop the SLVETF, the GLDETF as a relief valve to
59:14
divert money away from the physical metals?
59:18
Did they create crypto currencies as a way to divert
59:22
metal money away from the metals?
59:23
Because it certainly has. I think that's unit universally
59:26
accepted. What, what proof would we have?
59:30
And we're going to go back once a week and remember this.
59:34
Hold on here. This came from our friend Eric
59:41
Young. We had two slides.
59:43
We need to look at evidence that London and the COMEX gold
59:46
markets and silver markets are designed to introduce extreme
59:51
volatility to the gold price as to discourage citizens from
59:56
physical gold ownership. Now thinking about that last
59:59
statement within the context of what happened yesterday in the
1:00:03
gold market and the silver market, both experienced
1:00:07
massive, massive volatility. OK, this is King Kong 988.
1:00:12
London wholesale gold dealers views on US gold sale in private
1:00:17
US ownership Let's go to the next slide and review.
1:00:22
OK, The major impact of private hold on this was from, looks
1:00:27
like from the United Kingdom. It was declassified and released
1:00:31
by the US Department of State, OK, on the 30th of June 2005.
1:00:39
So what did they say? Limited official use the major
1:00:44
impact of private US ownership According according the limited
1:00:47
official use OK to the dealer's expectations.
1:00:52
This was when they were forming the the futures markets for
1:00:55
silver and gold will be the formation of a sizable gold
1:00:58
futures market. Each of the dealers expressed
1:01:03
the belief that the future market would be of futures
1:01:07
market would be of significant proportion and physical trading
1:01:12
would be minuscule by comparison.
1:01:15
So the futures market would be significant proportion and
1:01:19
compared to the physical trading, the actual like people
1:01:22
buying like they do on the Shanghai Gold Exchange like when
1:01:25
you buy physical gold and silver would be minuscule by
1:01:29
comparison. Underlined in red, also
1:01:32
expressed was the expectation that large volume futures
1:01:36
dealings right the growth of the COMEX in the LBMA would create a
1:01:41
highly volatile market. Think about what happened
1:01:45
yesterday. In turn, the volatile price
1:01:48
movements think about what happened yesterday would
1:01:52
diminish the initial demand for physical holding and they would
1:01:58
make people give up, throw in the towel.
1:02:01
Individual investors say I don't want gold, I don't want silver
1:02:05
and most likely negate long term hoarding by U.S. citizens.
1:02:11
So when we think about everything going on in the
1:02:16
silver and gold markets, we think about manipulation, we
1:02:19
think about what happened yesterday.
1:02:21
We think about the fact that the gold price went down because the
1:02:24
Chinese central bank stopped buying.
1:02:27
When in the month that they stopped buying, we actually had
1:02:29
an all time high. When we know the demand for
1:02:33
silver is absolutely skyrocketing around the world,
1:02:38
none of it makes sense. So when we think about will we
1:02:40
get $24.00 silver or will we get 34?
1:02:46
One of those prices is I got news for you, right?
1:02:49
There's going to be a day when I'm down here in the basement
1:02:52
and I'm saying to you, either silver's at $24.00 or silver's
1:02:56
at $34. One of those days, one of them
1:03:00
will happen first. OK.
1:03:03
My money is on the fact that we'll be at $34.
1:03:06
I do think we're going to have some rough waters ahead
1:03:10
potentially through the summer, maybe through the next 5-6
1:03:13
weeks. But the things will definitely
1:03:15
turn around subsequent to that. Hey, thank you to channel
1:03:18
sponsor First Mining Gold. You can learn more about them at
1:03:21
firstmininggold.com and our friends at Fortuna Silver who
1:03:26
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1:03:30
in Latin America and West Africa.
1:03:33
Thank you for being here. Don't forget, if you want to get
1:03:36
your hands on some precious metals, check out Pimbex Pi MB E
1:03:40
x.com. You take it easy.
1:03:42
Have a great day and I'll see you soon.
1:03:44
Bye bye.