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Transcript

🟠 BRICS BIG PLAN For GOLD and THE DOLLAR...(Silver too?) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
Welcome to the live stream. Welcome to the live stream
0:06
video. Thank you for being here today,
0:08
basement dwellers. I saw an article that caught my
0:11
attention about the bricks countries and I thought we
0:13
haven't been talking a lot about the bricks and the headline said
0:17
how the dollar ends. Now we're going to talk about
0:20
recent events in the gold and silver market later in this
0:23
video. Don't worry.
0:25
But this really got me thinking about the bricks.
0:27
We're not talking a lot about the bricks.
0:29
I hear Andy Scheckman, I hear Peter Grantich and a few other
0:33
people bringing it up. But the bricks is a big, big
0:37
deal and there is a big meeting, I believe October 22nd of this
0:42
year in Russia. But will this spell the end of
0:46
the dollar? And what is their plan for the
0:48
dollar? Let's dig into that a little
0:50
bit. Here's the article that caught
0:52
my attention, and we'll just run through this quickly.
0:57
Bricks reveal how the US dollar will end and then they go on to
1:02
say the BRICS alliance is looking to weaponize the oil and
1:05
gas sector to bring the US dollar down from the world's
1:09
reserve currency status. The alliance inducted 4 new oil
1:13
producing countries into the block such as the United Arab
1:17
Emirates, Egypt, Iran and Ethiopia.
1:20
This is this caught my attention.
1:22
The invitation is also sent to the world's biggest oil
1:26
producer, Saudi Arabia. However, the Kingdom has kept
1:30
the invitation on hold and is weighing the pros and cons of
1:34
being part of the block. Now.
1:36
I thought that Saudi Arabia had officially become a bricks
1:40
country. And why is that so important
1:43
guys? Because the dollar is backed by
1:46
oil right now. I almost said gold by oil, the
1:49
Petro dollar. And if the Petro dollar
1:52
continues to fall apart, because it's already beginning to fall
1:56
apart, we already know that Saudi Arabia is already selling
2:00
some oil outside the US dollar. We know other Arab countries are
2:06
selling oil outside of the US dollar and guys that has been
2:11
the linchpin supporting the dollar for what, the last 50
2:15
years, ever since Nixon took us off the gold standard.
2:18
So this could be big news, but we get more interesting data
2:23
from Russia regarding what their plans are from the dollar.
2:29
A little bit lower here. Let's just go back to Saudi
2:32
Arabia. If they join the bricks, the
2:33
alliance will control 42% of the global oil and gas sector.
2:38
Saudi Arabia's induction into bricks will lead to a paradigm
2:42
shift. Making countries rewrite oil
2:45
deals and payment settlements and local currencies will get
2:49
easier. OK, that is not good news for
2:52
Uncle Sam, right? In the US dollar, there's a
2:55
picture of Putin with MBS. The Bricks reveal how the US
2:59
dollar's global supremacy will come to an end.
3:02
OK, Bricks member Russia provided an update on how they
3:06
believe the US dollar's global supremacy supremacy will come to
3:10
an end. Russian President Vladimir Putin
3:12
explained that if oil producing countries in the Middle East
3:16
stop stop accepting the US dollar for oil, the US dollar
3:21
will automatically fall into the path of decline.
3:25
And it makes sense, guys. Think about it.
3:27
OK, there he is. There Russian President Putin
3:33
says if oil producers in the Middle East stop using the
3:35
dollar, it'll be the end of the dollar.
3:37
Here he says if oil producers in the Middle East stop using the
3:41
US dollar, it will be the end of the dollar.
3:43
Sorry, guys, I've repeated that six Times Now. the US dollar
3:48
runs a supply and demand mechanism.
3:51
What he's saying is exactly that the US dollar is not backed up
3:56
by anything. the US dollars not, not backed up by gold, not
3:59
backed up by silver, not backed up by anything.
4:02
It is purely a confidence and supply and demand mechanism.
4:06
I live in the United States. I love the United States.
4:10
I don't love what they've done to the dollar.
4:12
And I think it's still OK for me to say that.
4:14
And it is just that, a supply and demand mechanism.
4:17
And if it it and if it loses demand, think about that guy.
4:22
So if people don't need dollars to buy oil.
4:24
So if the demand for dollars goes down, then it's fall is
4:29
imminent. The Bricks block is looking to
4:31
target the US dollar by using oil as a major weapon against
4:36
the currency. OK, so now we need to consider
4:41
something else, right? And that is, I believe it was
4:48
almost lost. You guys hold on here, all
4:49
right, we're back basement dwellers.
4:51
I think it was Zoltan Pulsar, right, from I know it was Credit
4:55
Suisse, one of those this relationship between oil and
4:59
gold is critical, right? I think what were they talking
5:02
about, repricing oil in gold in grams, OK.
5:08
And that it could actually like overnight double the value of
5:12
gold because the oil market is so much bigger than any other
5:16
market. I think it's like 10 times the
5:19
size of the gold market, for instance.
5:21
So this is big news, right as we're talking about what these
5:24
BRICS countries are doing. And don't forget they're having
5:27
a major meeting in Russia in October, September or October.
5:33
I believe it's October 22nd. That's a big deal, right?
5:36
And what has Russia been doing? Russia's.
5:39
Putin's been going to Vietnam. Putin's been going all over the
5:42
world, North Korea, China, right?
5:48
People are coming to visit him from all over the world.
5:50
Remember that, that they were supposed to be isolated and
5:54
turned into like a pariah type country.
5:57
And that's not what's happening. Again, I'm not rooting for it.
6:00
I live here in the United States.
6:02
So do you. But we have to be aware of
6:04
what's going on and the big implications for the precious
6:08
metals prices, OK. Because on top of that, what
6:12
they're talking about doing, which is so interesting, so
6:16
crazy interesting, if you heard of the unit, if you heard of the
6:20
unit, and if you heard of a gold backed currency.
6:23
Because you know, we're getting bits and pieces and different
6:26
levels of report. So I'm not saying this is
6:28
definitive by any stretch of the imagination, but there are some
6:32
people out there who are talking about this with a high level of
6:36
confidence that at these high level BRICS meetings, the BRICS
6:40
Summit that'll be again this year in the fall in Russia that
6:44
we're going to have an announcement about what's called
6:47
the unit. And the unit could very likely.
6:51
Apparently, there were some Russian officials who said we'll
6:54
be backed 40% by gold and it will be a trade settlement
7:00
currency that can be used amongst the bridge BRICS
7:04
countries to settle their trade imbalances, but it will be
7:08
backed by gold and we're hearing 40%.
7:12
Now what's interesting about that as well is the fact that
7:15
initially they were talking about backing this trade
7:19
currency with a number of different things, oil, wheat,
7:22
other different real assets. And apparently as they, as they
7:26
looked into doing that, it became so complex that they
7:29
said, you know what? Why don't we just use gold?
7:32
It's worked well for the last 5000 years, right?
7:35
Like things like oil, it's very difficult to do accounting for.
7:38
It's very difficult to keep track of all that stuff.
7:40
So big developments going on with the bricks and nobody's
7:44
really talking about it right now.
7:46
I imagine, although we've got some big developments
7:49
politically here in the United States, that we're going to be
7:52
hearing more and more about the bricks situation as we head into
7:57
the fall. OK, again, it appears that
8:01
Russia is doing pretty darn good right now.
8:03
Russia is thriving and Russia wants gold back.
8:07
I mean, Putin has said it many, many times that they're fed up
8:11
with the dollar. They're fed up with the make
8:13
believe the US dollar. I forget fantasy, I forget the
8:18
specific words that he used, but he's he's, you know, pushing the
8:23
world more and more towards value of a unit of exchange that
8:31
will be based on real, real value.
8:34
OK, let's switch back now to talk about the silver and gold
8:38
markets. Look, this week, do you need me
8:40
to tell you was a a dreadful week, especially for silver.
8:45
OK, they were down this week, but it's important to remember
8:50
guys, that's a lot of this as I dug into it, a lot of the big
8:54
decline that we saw in gold and silver that was driven by
9:00
traders, OK, that was driven not by long term investors, but
9:04
driven by traders. It was all in the paper
9:07
electronic make believe Unicorn fart does COMEX and LBMA
9:12
markets. OK and and things have gotten a
9:16
little bit overbought apparently, right.
9:19
So now as we sit with $29.00 silver, right, Gold 2400.
9:24
Let's run out. Let's go take a look.
9:26
It's getting up to the up-to-the-minute weekend price
9:29
update from our friends at Pinbeck's.
9:31
OK Gold $2404.00 per oz Silver 2928.
9:38
I'm hearing a lot of well, let's first let's say thank you to
9:41
channel sponsor Pinbeck's. They make this video and all the
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9:48
If you're looking to get your hands on some silver, gold, or
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platinum group metals, just just give them a chance is all I'd
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OK, read about the, read the reviews, read what people have
10:01
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10:32
Definitely OK, always compare, but $29.00 silver, I'm hearing a
10:39
lot of other Youtubers analyst like talking about oh, it's
10:45
over, it's done and I get it. I feel it.
10:48
It was a very rough, rough week. Thank you Ron McAdams for that
10:51
super chat that raises my spirits this morning.
10:54
There's Ron smiling face. Is it over right now?
10:58
Let's think back a week ago right now, we were full of
11:01
enthusiasm and bigger for the silver price.
11:03
In particular, we were talking about needing to get through the
11:06
3250 range. Tuesday of this week, I think we
11:09
got the $31.50. But Wednesday, Thursday and
11:13
Friday, the rug was pulled on the on the silver price.
11:18
Look, I know right now. I understand, OK?
11:21
I know what it feels like. It feels not real pleasant,
11:25
right, when you think about the silver price, especially after
11:27
the last three days. But you we got to be objective
11:30
about this. Who knows where we'll be sitting
11:33
one week from now? OK, maybe that was just needed
11:37
to kind of flush out some of the weaker hands in the silver
11:40
market because I'll ask you the question, did anything change
11:43
right? The demand for silver from the
11:45
solar industry changed this week.
11:47
The demand for silver, did the did the massive deficit in the
11:53
silver market change this week? Absolutely not.
11:58
It did not change. So we can still be very
12:01
optimistic about what's to come. What they blame it on?
12:04
Do you know what they blame this week there?
12:05
A lot of people say China, oh, the Chinese economy, suddenly
12:08
the Chinese economy slowing down was there.
12:12
You know, they always look for a, for a big reason that they're
12:14
pegging on. I don't buy it, right?
12:16
The the silver market and the gold market are way bigger.
12:20
China's important, no doubt. So is India, right?
12:23
So is USA. So is every country on the
12:26
globe. Think about that globe, right?
12:28
I've got one up there behind me. I won't bore you by getting it
12:31
and bringing it down. It was my grandpa's.
12:34
It's a globe of the world. Everywhere on the planet there's
12:38
a silver and gold market, guys. It's the most universal market
12:42
in the world. We know.
12:43
It's also the oldest market in the world.
12:45
And we know it's also the wisest market in the world.
12:49
And we know silver and gold don't care about politics, right
12:54
as everything's blowing up all around us.
12:56
They don't care. OK, So what that means is silver
13:00
and gold are and I think I, I didn't hear anybody else come up
13:04
with this. Now I'm hearing hearing a few
13:06
other Youtubers, which is great. Imitations, the best form of
13:09
flattery. I'll take it, but I think silver
13:12
and gold of any market out there, especially when it comes
13:16
to money, OK, and value, right, Like bald guy money said like
13:21
silver is a as a value battery. But when it comes to money, like
13:26
there's no freer market, there's no other form of money of value
13:30
storage that is subjected to any purer form of market forces.
13:36
So what that means is in the end, market forces will
13:40
determine the real value of silver and gold, period, right.
13:45
You can't say that about the dollar, but I mean, you can't,
13:47
it's no comparison. You can't even really say that
13:51
about a lot of crypto currencies because I think they're outlawed
13:53
and certain. So, you know, gold and silver
13:56
are the the king, especially gold, gold's the Big Brother.
14:00
Silver will follow. And on that note, think about
14:02
this guys, the gold price didn't, I mean, you know, we
14:06
still got, we still have $2400 gold.
14:10
I mean, a lot of the, a lot of the precious metal people are
14:14
you, are you, are you, are you down or are you feeling down
14:18
about what's going on? Are really down in the dumps
14:21
right now. And I'm telling you right, the,
14:24
we can, we have $2400 gold. Where do you think we'll be a
14:27
week from now? I don't know, right?
14:29
You know, I know it's difficult, right?
14:31
I know it's, it's so much uncertainty out there, but where
14:35
will we be if we're still above $2400 next week?
14:39
I am very optimistic about us being able to hold it through
14:44
the end of the summer and from there.
14:46
And we're getting all these reports.
14:48
We're going to talk a little bit later about another analyst.
14:51
There's they're coming out of the woodworks.
14:53
If you notice that JP Morgan Chase, everybody right talking
14:58
about $2700 gold, $2600 gold by the end of this year, where does
15:04
that put silver? On that note, as we're going
15:06
through list, I was talking to my friend Slick Willie last
15:09
night. He's a multi millionaire CPA,
15:12
very successful guy and we were talking about politics.
15:15
We were talking and I said, but you know what, nobody's talking.
15:19
Let's go out and take a look. I'm going to show you what
15:21
nobody's talking about. Guys.
15:23
Let's go out here and take a look.
15:27
Why is nobody talking? Hold on, where'd it go?
15:36
There it is. Nobody's talking.
15:40
Oh my gosh, we're almost to 35 trillion.
15:43
Nobody is talking about this. And I said, you know, we were
15:49
talking about the presidential race and it's been, I'm going to
15:52
say for the 8th time, nobody's talking about the fact that we
15:54
are skating on thin ice. This is thin ice. the US
15:59
national debt, $35 trillion. But who is talking about it,
16:04
right? He was like, oh, the CEO and I
16:06
said, Jamie Dimon's talking about it.
16:09
Ray Dalio, the founder of the world's biggest hedge fund.
16:13
So you got the the CEO of the world's biggest bank worried
16:16
about the national debt. You've got the founder of the
16:19
world's biggest hedge fund worried about the national that
16:22
you've got Jeffrey Gunlock, right, the head of Double Line
16:25
Capital, the bond king, right, billionaire guy, right, worried
16:30
about the national debt. You've even got Jerome Powell
16:35
talking about how this is not a sustainable situation.
16:38
But if you heard anybody right, and this is not a political show
16:42
and I've got a little bit off off the target there, but if you
16:45
heard anybody talking about about the fact that the national
16:49
debt needs to be addressed, that we're in a death spiral, this
16:53
does not end well. Let's go.
16:57
Hold on here. We forgot to look.
16:58
Let's just make sure. Let me make this smaller so you
17:02
can see more, see more, see more.
17:05
Can you see more? There you go.
17:06
See more. All right, what the heck, Let's
17:09
go over here. We haven't checked for a while.
17:13
Oh, the dollar to ratio. That means for each one ounce of
17:17
coming out of the ground right now, there are 254 dollars being
17:21
printed, being made-up Unicorn fart dust, $254 per oz going on
17:28
right now. Where's the paper?
17:30
Oh, the paper to silver ratio still above 400, right?
17:34
That means for each one ounce coming out of the ground each
17:36
year, there's 400 oz being traded on the electronic
17:42
exchanges. Let's get back to business here.
17:45
OK, so they're blaming it on China.
17:49
Hold on, here we go. Ron, thank you again for your
17:52
super chat. Thank you to all you.
17:54
Hey, thank you for being here, right?
17:56
300 people on a Saturday morning.
17:58
I really appreciate it. I hope you feel like you found a
18:00
little home away from home here in the basement.
18:03
Basement dwellers, we love to talk about silver and gold and
18:07
we love for you to feel like you found a little home away from
18:10
home. So please, if you get a chance,
18:12
give this a thumbs up. That would help get the word out
18:15
to more and more people. OK, let's look at the dollar
18:18
index very quickly. OK, we just can't look at this.
18:23
There's the dollar. The dollar went up this week.
18:26
That was shoot. Why did it do that to me?
18:30
Darn it. Hold on here, guys.
18:32
Got to redo this really quickly. Boom, boom.
18:38
OK. And we're going to draw a line
18:41
right across here, and it's a little.
18:44
That's not good. Hold on.
18:47
We're going to draw a line from here all the way to there.
18:50
There we go. That's perfect.
18:52
You see that red line? That's the level where the US
18:55
dollar index is right now. Can you see that?
18:58
It's almost never been higher. OK, never been, I mean a little
19:03
bit of time over the last what, 4040 years, hardly ever higher,
19:10
right? And a high dollar is bad for
19:12
silver and gold. So we cannot forget that guys,
19:15
we are in Nosebleed territory when it comes to the US dollar,
19:19
the path of least resistance. And that's the that chart that I
19:22
just showed you, the DXY index. That's not the real value of a
19:27
dollar. You know, the real value of the
19:29
dollar. If you've been around on this
19:31
planet more than about four years, you know that the dollar
19:35
doesn't buy nearly as much now as it did just four years ago,
19:40
not to mention 40 years ago, right?
19:43
So that whole thing, the DXY, it really is the prettiest turd in
19:46
the toilet. I say that every day because
19:49
it's true. It's not the real value of the
19:52
dollar, which is going, going down, down, down.
19:55
Right now. You're hearing it everywhere.
19:57
I'm hearing 99%, ninety, 8%. But the CME, The Chicago
20:02
Merchant Steel Exchange. Excuse me, Bedwatch tool.
20:08
Which is predicting a 98 to 99% chance that we will get an
20:11
interest rate cut by September. It doesn't matter.
20:15
It's all a bunch of smoke and mirrors.
20:17
But in the short term, it will matter, OK, If the Fed, no
20:23
matter what they do at this point, we're going to have high
20:25
inflation and we're going to have the value of the dollar go
20:29
down. All the other stuff is a bunch
20:32
of BS noise. OK, All right, raise rates,
20:35
lower rates, whatever, you know, whatever they come up with to
20:39
try to put lipstick on this pig, this pig last time, I'll show it
20:44
to you today. This pig over here, which is the
20:49
US national debt, no matter how they slice it or dice it, guys,
20:55
OK, the value of the dollar is going down, right?
20:58
What you can buy with your dollar will continue to be less
21:02
and less and less. The dollar will become worth
21:05
less and less and less. It's designed that way under the
21:08
best of circumstances. And the value of metals will
21:12
maintain. OK, Let's not forget about
21:15
geopolitics. We got that big deal going on.
21:18
And on top of that, we got politics in the United States.
21:21
Will Joe Biden resigned this weekend from the presidential
21:25
race or withdraw, right? It could be huge, right?
21:29
Will Kamala be his be the new presidential candidate?
21:32
And if she is, who will be her vice president, right?
21:36
Will it be Michelle Obama? Will it be AOC, Alexander
21:41
Cortez, Whatever. Will it be Gavin Newsom from
21:43
California? Guys, we're in for some
21:46
fireworks. Real, legitimate fireworks.
21:50
Uncertainty, right? And what do gold and silver
21:54
love? They don't love it.
21:55
But what do they protect you against?
21:57
Massive uncertainty. Thank you, Frank.
22:00
Wow. What'd you say, Frank?
22:01
Thanks for that super chat. A dollar should be 24 grams of
22:04
fine silver. I like it.
22:06
Yes. Yeah.
22:07
Like the good old days right here.
22:09
Frank, Remember these? That's a silver.
22:15
It says right on the top. We're going to see if it'll come
22:18
into. Hold on right there.
22:23
See that silver certificate back in the good old days, right?
22:31
Basement dwellers, a lot of uncertainty coming up.
22:35
Who knows? I mean, can you even envision
22:38
where are we going to be two weeks from now?
22:39
But then I heard a report that Biden said, no, I'm not dropping
22:42
out. So who knows, Okay.
22:45
We also are still having fallout from what has been called the
22:49
world's biggest IT outage. Air airports were in disarray.
22:54
I'm hearing reports about Chase Bank like people and just
22:58
hearing different things, but people not being able to get
23:00
money out of the bank because this IT outage had major impact.
23:07
What's interesting is they don't want to call it a hack, but was
23:11
it a hack? I'm not saying it was, but are,
23:13
you know, I mean, think of all the weird stuff that went on,
23:15
guys. Less than seven days ago,
23:18
someone tried to take the life of one of the presidential
23:21
candidates. You know that, right?
23:24
We have the world's biggest IT outage, OK?
23:27
I mean, think of all the strange, strange things going on
23:31
in our world right now from a gold and silver perspective.
23:37
This could be a catalyst for the gold price, OK.
23:40
And the catalyst for the gold price is good for the silver
23:44
price as well. On Wednesday, Newmont Mining,
23:48
the world's the big, the big of the bigs.
23:50
A gold mining companies will report earnings, second quarter
23:54
in earnings, OK. Whether or not you're invested
23:57
in gold or silver mining stocks, this is important because when
24:01
Newmont reports their earnings. Thank you Dan W man, you guys
24:05
are nice. I'll be honest with you, I'm not
24:07
feeling well this morning, so these super chats are helping.
24:11
Thank you raise my spirits. Whether you're invested in
24:14
mining stocks or not, Wednesday when Newmont Mining reports
24:18
their earnings, that is a big deal because the gold price
24:22
during the second quarter of the year, April, May and June was
24:25
like 200 dollars, $300.00 an ounce higher.
24:28
They're going to report earnings likely that are going to blow
24:31
Wall Street away. That's going to bring some focus
24:34
into the gold and silver sector. OK.
24:38
And are we seeing right now we got a lot more to talk about
24:41
here ETF are are people starting?
24:43
Could it be happening? Oh my gosh, I didn't make a big
24:46
enough deal out of this. Could it be happening right now
24:50
that the Western investor is coming back?
24:53
I mean, what would that mean for the gold and silver market that
24:57
the Western investors may be taking a step back saying the
25:00
world's biggest IT outage, political chaos in the United
25:05
States. When I go to the grocery store,
25:08
everything keeps going up in price.
25:10
Maybe I need to buy myself some, get some exposure to silver and
25:13
gold. The BRICS countries talking
25:16
about a gold backed a gold, I'm sorry, trade settlement
25:20
currency. Think about this.
25:26
There's a lot lot going on. Let's go right to thank you
25:29
again, Dan for that super chat, my friend.
25:32
Let's go to hold on here. I'm going to go to this.
25:39
Here we go. Let's just go right to the ETF
25:41
article. We're going to skip ahead here,
25:43
guys. The gold price temporarily at
25:46
record level, OK, This was from Wednesday.
25:48
ETF investors buy again. This is according to Commerce
25:52
Bank, right, one of the world's bigger banks.
25:55
The gold price rose to a record high this week, buoyed by
25:58
expectations of a Fed interest rate cut, Commerce Banks
26:01
commodity strategist Garsten Fritz notes.
26:05
But here's what he says he thinks right now that the gold
26:11
price has run too far ahead. Now, he actually said this on
26:13
Wednesday, so he was maybe a little bit correct about that.
26:16
But here's the interesting part in Red says since yesterday, the
26:21
price fell by around $60.00. However, the gold price is now
26:25
being supported by significant purchases from ETF investors,
26:32
which argues against a further price decline.
26:36
The ETF investors are coming back.
26:39
Guys, look, we don't like the GLD, We don't like the SLV,
26:43
right? We know they're kind of, there's
26:46
a, there's a, there's a degree of suspicion that has been cast
26:49
around them. All right?
26:50
But according to Bloomberg, there had been ETF inflows of 20
26:58
tons in the last six trading days.
27:02
Since the beginning of the month, inflows into the gold ETS
27:05
tracked by Bloomberg have totaled 33 tons.
27:10
Money is coming back into, excuse me, the ETFs.
27:15
It'll be interesting and critical to see how this plays
27:19
out in the coming weeks as well. But guys, over like the last, I
27:24
don't know what year and a half, there's generally been pretty
27:27
significant outflows of money from the ETS.
27:31
That means a decrease in demand for gold and silver as well, OK.
27:36
The inflows now also extend the ETS listed in the US, which
27:41
still recorded outflows in June. OK, So it's happening here in
27:44
the US, The gold price went OK, blah, blah, blah.
27:47
So that is very critical for us to recognize and to know right
27:54
that now we're actually getting ETF money coming back in.
27:57
Before I forget the big news next week or you were the
28:00
biggest news, Are you ready for the biggest news in the history
28:04
of the universe for silver and gold?
28:06
That'll be Friday of next week when we get the PCE numbers.
28:10
What is that? Personal consumption
28:12
expenditures. That's the Fed's preferred gauge
28:16
of inflation. We're going to get that on
28:18
Friday next week. That'll be the big market moving
28:22
piece of data should be. But who knows?
28:25
Think about everything going on, what could happen next week
28:28
before Friday. OK, little bit further
28:33
interesting news. Well, we'll get to we'll get to
28:36
one point 1.8 million ounces of silver in Nevada.
28:42
I will get to that. OK.
28:43
But everybody and their brother if you notice this is calling
28:47
for $2600 gold, $2700 gold, everybody.
28:51
We talked about it last year in December.
28:53
We like to brag about that right basement dwellers when we when
28:56
we we made a prediction in December that we get the $2500
29:00
gold by May and we were darn near correct.
29:03
However, now everybody, all the big banks, all the big brokerage
29:08
houses are calling for $2500 gold.
29:11
Let's run through this information a kit Co from our
29:14
good friend Niels Christensen Gold market eyes 2500 with 2600
29:20
on deck. And who does this come from?
29:22
This come from comes from the esteemed organization
29:26
Pepperstone. That sounds like a like a spice
29:29
company, but it's not OK, it's a big financial services firm.
29:33
The gold market is once again firing on all cylinders and
29:36
trading near fresh all time highs.
29:38
According to one market analyst, the precious metal has room to
29:42
run higher. Chris Weston, head of research
29:45
at Pepperstone, said the gold's fundamentals have clearly
29:48
shifted and the $2500 an ounce and then is the next major test
29:53
on the horizon with 2600 is another potential target.
29:57
OK, talking about rate cuts from the Federal Reserve.
30:00
And there it is right there, the old 98%.
30:03
Everybody's talking about their 98% chance in September.
30:10
There's even I think like a 15% chance that they could cut rates
30:13
by .5% in September. Anyway, the market has
30:16
unwavering confidence that the Fed is about to embark on an
30:19
easy easing cycle from September.
30:22
Yes, right, everybody. I mean, you're hearing these,
30:25
these predictions that, you know, eight rate, eight rate
30:28
cuts in the next year and a half, six rate cuts in the next
30:31
year and a half. OK, here we go again ETFs, let's
30:34
just read this from the beginning.
30:35
One can argue that systematic momentum and Trenton following
30:39
players have have had a huge hand in driving the future and
30:43
Spot gold moves, he said in the ETF space on the day, we saw the
30:50
GLD ETF trade on the day, in one day, 11,000,000 shares, more
30:57
than double the 15 day average. Guys, there's a saying on Wall
31:01
Street that price follows volume.
31:04
When volume goes up, typically price goes up.
31:08
Weston also pointed out that gold's rally is not just a North
31:11
America event. There's broad global interest in
31:15
precious metals. Like we talked about earlier,
31:17
get your globe out. Do you have a globe at your
31:19
house? Spin it, close your eyes, OK,
31:22
and then stop it and point your finger.
31:25
And wherever you put your finger, there's demand for
31:28
silver and gold. Last paragraph here.
31:31
Along with the expected lower interest rates, Weston said that
31:34
gold is also garnering renewed safe haven bid after former
31:39
President Donald Trump was officially named as a Republican
31:42
presidential candidate at this week's Republican National
31:46
Convention. People don't know what to
31:48
expect, right? They don't really know what to
31:51
expect for gold and silver with Donald Trump here.
31:54
Listen to this the betting markets price.
31:57
The prospect of Trump becoming president has risen to nearly
32:00
70%. And with JD Vance's Trump's
32:02
running mate, the prospect of a hard line protectionist approach
32:07
toward China, Mexico and potentially Europe has many
32:11
questioning what this could mean for global trade and inflation.
32:16
Remember, right, all the noise, all the BS that they'll tell you
32:22
at the end of the day, gold and silver are going to protect you
32:25
against inflation, against a devaluing dollar.
32:30
Trump advanced their policies, right?
32:32
They're talking about explicitly wanting a weaker dollar.
32:37
Weaker dollar means more valuable gold and silver.
32:43
We got to get that through our thick skulls.
32:45
OK, that's, that's, that's under the, I guess you would say best
32:50
of circumstances, no matter what happens, no matter who's in the
32:55
White House, right? I'm not going to pull it up, but
32:57
we still have that the facts right that we're going broke.
33:02
We are a broken country. We are skating on thin ice
33:06
financially. We have almost $35 trillion in
33:10
national debt. Guys, you can't make this stuff
33:14
up. It is real and the value of the
33:16
dollar will, can I? I'm saying it for the 4th time
33:19
will continue to go down and silver will follow.
33:23
Gold, absolutely. That always has it always will.
33:27
Let's talk about 1.8 million ounces.
33:30
Maybe I'm exaggerating a tiny bit, but a lot of silver in
33:35
Nevada because we get these stories one after another, but
33:39
usually they're about China. But this one from Zero Hedge is
33:44
about the United States of America.
33:47
The biggest US store solar storage project launches in
33:51
Nevada. Nevada is now hosting the
33:54
largest solar plus battery energy storage system project in
33:58
the United States with Primer G Solar and Quinbrook
34:01
Infrastructure Partners announced that the Gemini Solar
34:05
Plus storage project in Clark County is now fully operational.
34:12
OK, here, here's the data. Blah blah blah in yellow, the
34:17
1.8 million solar panels. Oh I I misspoke.
34:22
We were supposed to say the 1.8 million silver solar panels
34:27
because every one of those panels will have silver in it.
34:30
Most likely at least 2/3 of an ounce.
34:34
Site can generate up to 600. So let's just say it is 2/3 of
34:38
an ounce, right? That would be what's 2/3 * 1.8
34:44
million 66 that's probably over 1,000,000 ounces of silver.
34:51
So is the demand for silver going anywhere?
34:55
I ask you that question, right? Is silver going away?
34:59
Are we are, you know, no, right. We know that's, that's, that's
35:04
tiny compared to the solar silver, silver solar projects
35:08
that they're building in China. They're building solar farms in
35:12
China, the size of the city of Paris, the size of the city of
35:16
New York. OK, it's real, guys.
35:19
And when you look at each one of those panels, you can look at
35:22
them as a solar panel, but you can also look at them as a soul,
35:25
as a silver bar, because that's the reality of the situation.
35:30
Every one of those panels has silver in it.
35:33
OK, look, this world is getting absolutely crazy.
35:37
Nobody's talking about the bricks.
35:39
OK, Remember what we talked about at the beginning of this
35:42
video? The bricks has been put on the
35:45
back burner, but we could get some shocking news out of the
35:49
major bricks convention that's going to be this fall in October
35:54
in Russia regarding a gold backed trade settlement
35:59
currency, 40% is the number that's being thrown around.
36:04
Nobody knows for sure, right? But it's called the unit.
36:08
We also know that the Bank for International Settlements has
36:11
this little project, little side project called project in
36:14
Bridge. How will the unit fit in with
36:17
that, right? How will all this work?
36:19
We know, think about this, these bricks countries, right?
36:24
If this does come to fruition and some people are talking as
36:27
soon as this fall, right, gold backed trade, settlement,
36:30
currency that those countries that want to participate, they
36:34
need to have the gold. Does that explain why central
36:37
banks are buying gold hand over fist?
36:39
Does that explain why central banks throughout the world are
36:42
repatriating their gold? I think it does.
36:45
Hey, I think it's real special that you join me today.
36:48
Thank you. I want you to have a great
36:50
weekend. OK?
36:51
Please support our channel sponsors, right?
36:54
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Africa. You have a great day.
37:12
OK, guys. Thank you for being here and I
37:15
will see.