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MASSIVE Silver Price MOVES and NEWS 🚀... YOU CAN Sell at $80 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
We have massive silver price and gold price news to talk about
0:06
this morning. Will you be able to sell your
0:09
silver for $80.00 per oz, $90.00 per oz?
0:13
I'm getting that question all the time and I have a definitive
0:17
answer for you. It'll make perfect simple sense.
0:20
But what is going on right now in the markets, That's
0:24
absolutely astounding when you compare what's going on with one
0:30
company in the general markets to what's going on in the silver
0:34
market. We've got a lot more to talk
0:36
about as well. The silver to gold, gold to
0:38
silver ratio, whatever you choose to call it.
0:41
Is it telling us that silver should actually be $39 per oz
0:46
minimum right now? Let's get caught up on
0:49
everything but the biggest story.
0:50
Have you heard the biggest breaking news financial story of
0:54
the day right now? GameStop.
0:57
Yes, the stock like doubled overnight because this guy
1:00
roaring Kitty disclosed that he made like AI don't know, 100
1:04
million. Let's go out and take a look.
1:06
But there's something about this story that I believe directly
1:11
tells us just how unbelievably undervalued the silver price is
1:17
right now. And that's what we're here to
1:18
talk about silver and gold. And by the way, I'm really happy
1:21
you're here. I am happy.
1:23
Please give this a thumbs up. You can subscribe to the
1:25
channel, it's free. And thank you in advance for
1:28
super chats and all the other support that you guys so
1:30
gracious graciously give Susie, myself and the girls.
1:35
Let's go check out. Now remember, remember #1 this
1:39
is astounding #2 this does have everything.
1:43
There's something embedded in this that has everything to do
1:46
with the silver price. So there you go right there.
1:49
GameStop soars after a roaring Kitty reveals $175,000,000 bet
1:55
OK, this is just incredible. And by the way, we're going to
1:59
talk about the I forgot to tell you they tried.
2:02
I warned you, we talked about this over the last few days that
2:05
that, that overnight they were going to try to kill the silver
2:08
price. I'm going to show you some proof
2:10
that they gave it a little shot and we're going to see how we're
2:13
doing right now. But nonetheless, OK, GameStop up
2:17
through the roof. Now, I want you to look at this.
2:20
This is a chart of GameStop, OK? Earlier this morning, just what,
2:25
an hour and a half ago, the stock was trading for $44 per
2:29
share. So it's come down significantly,
2:31
still up 30%. But let's go down here, and this
2:39
is from Yahoo Finance. This is the market cap.
2:42
This is the value of the company sits at $10 billion, OK, When
2:48
the stock just an hour ago was at 44,000,000, it was over.
2:52
The market cap of GameStop was over $15 billion.
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Guys, the entire silver mining sector, the entire silver, you
3:04
take every silver mining company and you add them all together,
3:08
you aggregate their value together.
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It is less than $15 billion. I mean, does this just show you
3:16
and me how crazy under invested the the silver market, the
3:23
silver miners, the silver everything is when you have
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GameStop one company, right and it's GameStop.
3:31
I mean, are they even open anymore?
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I don't know if there's any game stops around anymore.
3:36
Seems like they all closed down GameStop because of some guy
3:40
named Roaring Kitty. And look more power to them.
3:43
I watched that. There's a great documentary on
3:45
Netflix. It's interesting, right?
3:47
This was the Wall Street silver move.
3:49
But none the less you're trying to tell us.
3:52
Do you believe it right? The GameStop is worth more than
3:56
every silver miner combined. Now, what that means, and we've
4:00
talked about this ad nauseam, is one darn thing for the silver
4:06
price. As we head into the future, the
4:09
silver industry, the silver miners are so under in bed.
4:13
There's so little money in the silver mining sector. 15 billion
4:18
right there there, there's there's, there's going to be
4:22
there. We already know there's already
4:24
a shortage. That's what there's going to be
4:25
a shortage of silver. There's going to be an even more
4:28
exaggerated shortage of silver probably within the next one or
4:32
two years. This analyst from TD Securities
4:36
that we talked about yesterday. Thank you for that super chat,
4:39
by the way. Look, let's pull that up and say
4:42
thank you. I don't know what currency that
4:44
is, but it's 100 of something and whatever it is, it's much
4:47
appreciated. Thank you so much.
4:49
He's talking about this could all come to a head very soon,
4:53
very quickly. Andrew McGuire talks about it
4:56
coming to a head. Maybe not within years, The guy
5:00
from TD Security said years. Andrew McGuire says months.
5:05
It's, I mean, it's unbelievable and it's not just right now that
5:09
there's an under investment in the silver mining sector.
5:12
It's been going on for decades. That means the pipeline of
5:16
future silver is running dry. I digress.
5:20
Let's go, let's go take a look and see what they tried to do to
5:22
us last night in the silver market.
5:24
Did they try to bombard the price of silver and gold down?
5:29
They'll probably try some more today.
5:31
We'll go out to Pendeks here in a minute and get an
5:33
up-to-the-minute up to the second silver and gold price
5:37
quote. Don't be don't be surprised.
5:39
I'm telling you, the next few weeks are going to be hairy.
5:42
I'm going to tell you what Vince Lanci said.
5:43
I'm going to tell you what he was talking.
5:45
Anyway, We're we're going to get into that.
5:47
Let's just run out here real quickly and look at this.
5:50
Look what happened when you were sleeping overnight.
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Look what happened. OK, well, silver futures, let's
5:57
refresh this. Let's see where they are right
6:00
now. This is the futures.
6:03
Whoa, we likey. We likey a lot, right?
6:08
But look what happened in the middle of the night when you
6:10
were sleeping, huh? What were you dreaming about
6:13
last night? I hope you got a good night's
6:14
sleep. I've been waking up at 4:30 in
6:16
the morning every day and I can't go back to sleep.
6:19
It's been happening more and more over the last couple years.
6:22
Is that because I'm getting older?
6:23
Does anybody else go through that?
6:25
None the less, at Let's see it exactly, exactly 1:40 AM in the
6:34
middle of the night, somebody decided to sell a boatload of
6:37
silver and took the price down. Oh, they didn't do too good.
6:42
They got it down. They got it down to about $0.30.
6:44
But look at that. It came back and back and look
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where we are right now. And you know what, right now is
6:49
really all that matters and anything is possible.
6:51
Guys, I'm thank you. Anything is possible.
6:54
I'm going to give you a little glimpse into my private life
6:58
just for a few seconds here as proof that anything is possible.
7:02
I was sitting on, excuse me, I'm getting choked up.
7:05
I was sitting on the chair. I have to do physical therapy
7:08
exercises. I bet a lot of you've been to a
7:10
physical therapist and they give you all these exercises.
7:12
I hate doing them, but I love doing them because I feel good
7:15
after I'm done. Anyway, I'm doing this last one,
7:17
a nerve glide. I kind of look like a goofy bird
7:20
and Susie sitting on the couch next to me.
7:22
And I, I, I'm going to tell you what Susie said to me.
7:25
She said, you know what? I'm really thankful that you're
7:27
so good looking. And I was like, what really,
7:33
really. Did she even say that?
7:38
Are you feeling OK? Anyway, anything is possible in
7:42
your personal life and in the silver market.
7:45
And I'm telling you guys, we are in for some very, very good
7:48
time. Can we have a correction?
7:50
I was listening to Jordan, Roy Byrne and Vince Lynchy, just the
7:54
parts of a video they did together.
7:56
Those are two of the smartest guys in the room.
7:58
OK, But I'll tell you what Vince said that I think is critical
8:02
for us to remember as gold. But this was specific to silver.
8:07
He said basically, yeah, silver is overbought now.
8:11
They were talking about the possibility, yeah, silver could
8:13
pull back the 28 and and and if it does, that's great.
8:17
I agree with what they said. And then like, but you know, if
8:20
we go down 20% in silver or more than that, well then we have to
8:24
kind of reassess the situation. But listen to what he said
8:27
because I think this was so I hadn't thought about this.
8:30
He said. He said, yes, silver is
8:33
overbought right now. But as you and I know first
8:37
hand, it's been oversold for the last 10 darn years, OK.
8:43
And then they brought up that little reminder.
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We have to remember guys, that in the precious metals market,
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what is going on right now in India, What is going on in
8:54
China? You know, things are going big,
8:57
big, big things are going on right now in those markets,
9:00
right? So hey, look, we're going to
9:02
have pull backs. It's going to happen, right?
9:05
And I'm worried about the next few weeks.
9:07
I hope I'm wrong. I often times am.
9:09
Sometimes I'm right, but as long as the pullbacks aren't too
9:13
severe, we're still sitting in very good shape.
9:17
When I do my rough technical analysis and I look at the
9:20
uptrend in the silver price, let's run out there real quick
9:24
just so we can feel confident I to a certain degree where we
9:27
are. Let's go.
9:30
Let's look at a one year chart in silver.
9:32
OK, again, right. Back in February, I can't, I
9:35
can't tell, tell this to you enough.
9:36
We were at $22.00 silver in February, but I heard somebody
9:40
say we had like a 47% move up. So if we start here and kind of
9:45
draw an imaginary line, right? I mean, you know, we could get
9:50
into the $2829 range and still be OK, still be in an uptrend.
9:56
We're going to have these, right, these little pull backs,
10:00
pull back, pull back. But as long as we have a
10:02
continued upward trend, we're still in really great shape.
10:06
And I don't care. Do you care?
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I mean, not that we care. Yeah, of course we care about
10:10
silver. But long term, we know the
10:13
unbelievable fundamentals. And remember, this guy from TD
10:17
Securities is talking about the fact, right?
10:21
The fact that within the next year or two, he said the S word.
10:25
Yeah. You know, the S word.
10:27
Come on, basement dwellers, who knows the S word?
10:29
Squeeze that the mainstream analysts are talking about
10:34
silver squeeze. All right, all right, let's talk
10:37
about a lot of other. We got a lot of other evidence
10:39
about what's going on right now here.
10:42
I'm going to give you another glimpse.
10:44
I'm going to give you a bus behind the scenes look at Ron's
10:46
basement. But why?
10:47
This shows that the demand for silver is going up and up and
10:53
up. OK, I get all kinds of crazy
10:56
data from YouTube. It's called YouTube Studio, and
11:00
this is a behind the scenes look.
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This shows how many hours, watch time and hours over the last 90
11:07
days. You guys have watched 308,000.
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And thank you so much for doing that.
11:11
I appreciate it. That's not the point here.
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The point is about demand for silver.
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This chart doesn't show it too well, but there's definitely an
11:19
upward trend. But wait till we look at this.
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Yeah, OK, I have No, Susie says there's something going on with
11:30
Barrick Gold. Maybe we'll go check that out
11:32
here in a minute. None the less, as I'm as we're
11:36
looking at this chart, this shows increased demand for
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silver. Now this is how much, how many
11:43
hours you guys watched Ron's basement?
11:46
All I do is make videos about silver and gold.
11:48
If you're into puppies or you're into cooking or you're into
11:51
whatever, you're not on my channel.
11:53
You're a basement dweller. You're a silver and gold
11:56
enthusiast and it's a big deal. It's here.
11:58
It's called YouTube because it's all about you.
12:00
None the less, look at this trend, OK, February about maybe
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50,000 hours were watched. March, it picked up maybe 80.
12:09
April it picked up again, maybe 83,000.
12:13
Look at May, it was hold on here, I'm covered up, I can't
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see it, but it was 124,000 hours, more than twice as much
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of viewer time during May as opposed to February.
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And I'm going to tell you that that blue, Big Blue bar that
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represents demand for gold and silver.
12:37
So yet another. And why is that a big deal?
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Why is that a big deal? Because guys, because you and me
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that that massive increase that we saw in viewership on my
12:48
channel and I'm sure the other silver and gold channels are
12:50
having it awesome. Maybe it also, maybe it is just
12:54
because of my boyish good, good looks and Keene Witt.
12:56
No, no. And yes, you know, I'm proud of
12:59
the content I put out, but a lot of it has to do with a growing
13:02
interest in silver and gold. And why is that a huge deal?
13:08
It's a huge deal because that's the one little tiny missing
13:12
component to more explosive moves in the silver price and
13:17
the gold price. We got all the other boxes
13:19
checked, right? Central banks, China, India, we
13:23
got reduced inventories at the big electronic exchanges, the
13:27
COMEX in New York City and the LBMA in London, England, right?
13:31
They've reduced. I mean, everything's in place.
13:34
We got top analysts talking about squeezes, OK?
13:38
The only thing missing is the Western investors ETF levels out
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have had outflows. If that continues, and I believe
13:48
that it can and I believe that it will, it could be the missing
13:51
link, the catalyst that could move the price of silver and
13:56
gold much, much, much higher. Let's run out and take a look
14:00
and get an update on where the silver and gold price are right
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now. Hold on here.
14:05
All right, here we go. We're moving all around the
14:08
Internet. Pinbex.
14:09
OK, let's do an update. Hold on.
14:14
OK, Silver down to cents, $30.41 gold, 2338 dollars.
14:20
Thank you, Pinbex, for sponsoring Ron's Basement.
14:25
It's a company that I worked with before they sponsored Ron's
14:29
Basement. I bought silver from them
14:32
several times, had a great experience.
14:35
So when we came together and they they graciously offered to
14:39
sponsor Ron's Basement, I jumped on the opportunity because I
14:43
believe in the company. I believe in getting the most
14:46
metal for my money. And when I compared prices with
14:49
other online bullion dealers, I found Pinbex always ultra
14:53
competitive. And when I made future
14:55
purchases, I felt good that I didn't have to run around and
14:58
spend hours and hours comparing prices, that I knew I'd get a
15:02
great price from Pimbex and then I'd get a great product and a
15:05
great customer experience. If you're in the market, you may
15:09
consider find out for yourself. I'll never tell you what to do,
15:12
but throw them into the mix. And if you ever decide that you
15:15
want to convert all or part of an IRA into precious metals, you
15:18
may benefit from talking to Pinbex about that as well.
15:22
You may be real surprised how much more metal you can get for
15:26
your money at Pinbex. Now let's get back to the show,
15:31
baby. That's the missing link.
15:34
OK, that's the missing link. That chart.
15:37
Let's look at it briefly one more time.
15:41
That is the missing link. Look at that.
15:43
How do I do this? That's I can never get it right
15:46
there. I can't reach all the way over
15:51
there. That Big Blue line is ours.
15:55
You guys spent 124,000 hours watching Ron's basement videos
15:59
in May. That's up from 50,000 in
16:01
February. That doesn't matter, right?
16:03
And I'm gracious and that's great.
16:05
All that's wonderful. That is demand for precious
16:08
metals is what that is. And in my humble opinion, OK,
16:16
let's talk about now what's going on in the UK, what's going
16:20
on around the world, OK, we know this.
16:23
Let's we hear this from the Silver Academy, OK, about the
16:31
UK, this is interesting. I think they grabbed this off of
16:34
the Wall Street silver or the Silver D Gen.
16:37
Club shortage of potential shortage of silver in the UK.
16:41
OK, we're about to make the call of no physical silver by 2025.
16:47
How do you feel about that? I could see it happening.
16:50
I, I look, none of us have a crystal ball, but we could.
16:53
When you put it all together, when you think of all the moving
16:56
components right now in the silver market, I think it's easy
17:00
to see a situation where, yeah, you go to your local coin shop
17:04
and silver's gone, right? I'm not saying that it's
17:08
absolutely going to happen. Don't make any financial
17:10
decisions based on anything I'm saying.
17:13
But I do believe that it's I won't, I won't say highly
17:17
likely, but definitely potential possible that we could be in
17:22
that state. OK, this OK.
17:25
This post was generated from a Reddit silver stacking ape and
17:29
verified by some UK citizens. A friend of mine got a marketing
17:33
e-mail yesterday from Atkinson's Bullion.
17:35
I think that's a big bullion seller in the UK.
17:39
OK, intense buying in the UK in a in a potential shortage of
17:44
physical silver, they're paying up to 6% over spot on select
17:49
silver coins now. What does that mean?
17:54
That means premiums are going up in England on physical silver.
17:59
So I reached out to a friend of mine who's I would say a high
18:03
level guy that knows a lot about what's going on in London, in
18:07
England, in the bullion market over there.
18:09
And here's what he told me. He said, he said there is
18:11
currently plenty of bullion in coins available to buy, but but
18:17
the premiums have moved with the base value.
18:21
So it's fairly expensive. Good news, my gut feeling is the
18:26
prices are not going to drop. So you've got premiums, right?
18:30
And there's not the what the premium, whatever the premium
18:34
is, whether you're talking about American silver Eagles, whether
18:37
you're talking about UK, Britannia's South African crew
18:41
grants, no matter what, right, A10 oz silver bars.
18:44
When premiums spike, there's only one reason there people can
18:49
talk about all No guys, there's one reason why you know what it
18:53
is. You know it's because demand,
18:56
the only way that the bullion dealers can raise the premiums
19:00
is because of a either a shortage of supply or an
19:04
increase in demand. I think in this case it has to
19:08
do with an increase in demand supply shortage possibly, right?
19:12
Depends on how you want to measure it.
19:14
None the less, when we have rising premiums, that is a sign,
19:20
right? And granted, this is 1 little
19:21
remote, you're not remote. But I mean, London's a big, the
19:24
UK is a big country. That's a very good sign going
19:27
forward for the silver and gold price.
19:30
Should we be? Should we huh.
19:34
I talked to Coin Chop Chris last night.
19:36
Should silver be at $39.00 higher, possibly an ounce right
19:40
now? He sent me a chat.
19:42
He said I sent you a chat. I'm like, what's a chat?
19:45
He's from New Hampshire, so he has AI have to use Google
19:48
Translate to sometimes to hear what he's what he's what he
19:50
means. He said, I sent you a chat.
19:52
I said OK, well let's take a look at what he sent me and here
19:58
we go. Coin Chap Chris said with gold
20:05
at $2347 per oz. That was the price on June 2nd.
20:11
Here are some ratios for what silver would be if we hit them.
20:15
This is the gold to silver ratio.
20:17
This is how many ounces of silver it takes to buy one ounce
20:21
of gold. We know that it skyrocketed up
20:23
into the 90s just a few months ago.
20:26
His pulled back quite a bit lately.
20:28
I think it's around 7576 right now.
20:32
So if we get the 70 to one gold to silver ratio, OK, at current
20:36
gold prices, we would be at 33. If we get to 60.
20:40
Now I'm going to show you something here and I'm going to
20:42
lay out an argument that we should be at least at minimum OK
20:48
60. Or is that the right way to say
20:50
it, that where we are now is too high?
20:52
It that 60 is really what the at minimum the gold to silver ratio
20:57
would be, we would have almost $40 silver if we go down to 30.
21:02
Did we ever hit 30 in the past? I don't know what to check here
21:05
in a second. We'd be at almost $80.00 silver.
21:07
And if we were at 12:50, right, 10 ounces of silver to get one
21:13
ounce of gold right, we would be at silver over $230 per oz.
21:19
Have we ever been at 10? Well, let's take a look, huh?
21:23
Let's take a look, see and let's find out.
21:28
This is all data, gold to silver ratio history.
21:32
So this goes back 50 years, the 1975.
21:35
I want you to take a look at this.
21:36
This shows where we are today, right?
21:39
We're at 7662. So right now it takes about 75
21:45
ounces of silver to get one ounce of gold, which I still
21:49
think is ridiculous. Almost.
21:50
Would you take 4 tubes of American Silver Eagles and trade
21:54
that for one ounce of gold? I personally wouldn't.
21:56
Some people would. I though, when I look at this
21:59
chart now, right? You know, we're not going to do
22:01
any, anything fancy here, guys. But just look at this chart.
22:05
It goes down, up, down, up. But where do you kind of see the
22:09
average? I'll tell you where I see it
22:11
right here. It's 60.
22:13
If I draw an imaginary line across there, I'd say over the
22:16
last 50 years, the gold to silver ratio is probably
22:20
averaged around 60. Now, somebody will send me an
22:23
e-mail with a correction. I'm sure there's a mathematical
22:25
way to figure it out, but when I eyeball it and I always trust my
22:29
eyeball and my gut where it's 60.
22:30
Let's go back here. At a 60 gold to silver ratio, we
22:36
should have $40 silver. OK?
22:39
But very interestingly, in 1980, we got down to what, 12/13/15,
22:47
huh? Right.
22:48
And even more recently, and what's this 2012?
22:53
We got down to around, let's say, 30.
22:55
We're just going to say 30, 30 would be $80.00 silver.
23:00
So this thing. But I think there's two key
23:03
takeaways #1 average 60 gold to silver ratio, 3 tubes of
23:09
American Silver Eagles. I still think that sounds rich,
23:12
but I'm a silver fanatic. I love gold, don't take that
23:15
personally. But I'm still would have a hard
23:17
time taking three tubes of American Silver Eagles and
23:21
trading them for one ounce of gold.
23:23
So the key take away though is 60 average would get us about a
23:27
$40 silver price. Also though, if there's times
23:31
when it spikes down the levels like 30 and even down there.
23:35
But let's for fun, let's for fun, let's look back even
23:40
further in history and see how crazy could we get to a silver
23:45
to gold ratio. Could we could we get to 10?
23:49
Oh, yeah, we forgot to mention this can what do you what what
23:53
do you think when you consider this right, that on an annual
23:57
basis, for every one ounce of gold that gets mined, there's
24:03
only 7 ounces of silver. So should the ratio really be 7
24:07
to one, 7 ounces of silver to get one ounce of gold?
24:11
And then further complicating the matter is the fact that all
24:14
that gold remains intact, right? Hardly any of it is consumed or
24:19
or wasted, but like half or more of the silver, well, heck,
24:23
probably all of it now that's coming out of the ground, gets
24:25
shipped to China or India and gets put into solar panels that
24:30
are and it's gone for 20 years. Think about it.
24:33
Should the gold to silver ratio be 7 to one?
24:36
Gosh darn it, coin shop, Chris, you didn't.
24:38
I'm going to do some fancy math. Hold on here.
24:40
Let's see what the gold price. So I'm sorry, silver price would
24:44
be. I'm going to put in 2350 / 7.
24:50
That would only be $335 silver. But but, but, oh, let's go back
24:55
in history. I almost forgot this, my
24:58
friends, is is crazy. Just for fun because you know,
25:02
we're history buffs and especially when it works in our
25:05
favor. This is from my friend the
25:09
Silvershire big contributor. There it is right there.
25:12
Silvershire, big contributor to the channel.
25:15
This is the gold to silver ratio over over a long period of time.
25:20
And I'm making a separate video about this alone that'll come
25:23
out this week. But in Greece, right?
25:26
What is that? 2324 years ago?
25:29
12:50 And then here, I'm not going to read through all these
25:32
12 to one, right? Medieval England, 11 to one,
25:37
right? So that would be what, two
25:39
easily $200.00 silver. Germany more recently we're
25:44
coming up to the more recent time in the 15 hundreds. 12:50
25:49
OK. Again, $230 silver even here in
25:53
the United States, right, in 1887, the ratio was 21 to one,
26:00
which is easily what, $100 silver?
26:03
OK, This is what I find interesting is when I look at
26:09
this, can you see me? No, you can't see me.
26:11
Hold on here. When I look at this 1878, right?
26:17
Morgan Dollar. Who doesn't love that, right?
26:20
I sent sent to me from my friend Gary, not upside down not too
26:25
long ago. I love the front.
26:27
I love Morgan dollars. I'm sure you do too, right?
26:30
This is a really nice 1/18/78. What year?
26:33
What was the silver to go? And that's not so.
26:35
That's not so long ago, 1878 at that period of time, you can see
26:41
up there like the 5th row right in the middle, 1871 to 1880, we
26:46
had a, a, a gold to silver ratio of 16 to one.
26:50
It's absolutely crazy what's going on there.
26:53
And, and as a silver and gold, right, we want to go back on the
26:59
gold standard. We know silver and gold are real
27:01
money, but what's the proof that we have that it works?
27:04
I just want to briefly remind you that when the United States
27:07
of America 180 years was on the gold standard, had the money
27:13
backed by gold and silver 180 years, that this country
27:18
achieved growth and prosperity that is unmatched in the history
27:23
of the universe. OK, Never in the universe had a
27:27
country grown and been as prosperous as the United States
27:31
of America. And oh, coincidentally, during
27:33
that time period, we were on the gold standard.
27:35
We had silver in our money. We had these things.
27:39
Where is it? Here it is, right?
27:43
See that That's not a dollar, guys.
27:45
You need to look real closely at the top, the very top silver
27:49
certificate and it says right here, right?
27:56
It says this certifies that there's on deposit in the
27:59
Treasury of the United States $1.00 in silver payable to the
28:05
bear on demand. I know I can't show that enough.
28:08
I to me that just blows me away. It looks just like a dollar, but
28:12
it's worth silver. The fun never ends.
28:17
I'll tell you what. Hey, let's say thank you to
28:21
channel sponsor first Mining Gold.
28:23
Canadian gold developer with two multi million ounce projects in
28:26
Canada. They have a lot of gold buried
28:29
safely in the ground in Canada. They're development stage
28:32
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28:34
If you want to learn more about them, you can go to
28:37
firstmininggold.com and also our good friends at Fortuna Silver,
28:42
Silver Mining and Gold Mining Company.
28:45
Big operations in Latin America, big operations in West Africa.
28:50
Hey, we're 2/3 of the way now through the second quarter of
28:54
the year. I'm going to be so excited to
28:56
see just how much production they can have during this
29:00
quarter. And even to me, more
29:02
importantly, more interesting how much cash they're able to
29:05
generate because they were generating unbelievable amounts
29:08
of cash even at some of these lower precious metals prices.
29:12
And if gold and silver just hold where they are, it's not just
29:16
Fortuna, all the mining companies are going to be making
29:19
so much cash. These mining company.
29:22
I mean, what, what did we talk about earlier, right?
29:24
I mean, does it, does it make sense, guys?
29:28
Does it make sense to you? Do you see the opportunity?
29:30
Don't make any financial decisions based on anything I'm
29:34
saying. But do you see the opportunity
29:36
just in the silver mining sector alone when the value of the
29:40
entire silver mining sector is smaller than GameStop a couple
29:45
hours ago? GameStop, right?
29:48
Remember silver, this critical metal, right?
29:51
For the artificial intelligence revolution, for the solar
29:54
revolution, for the electric cars, for your stack.
30:00
It doesn't make any sense. And sometimes when things don't
30:05
make sense, they possibly represent a good buying
30:10
opportunity. Oh boy, some people got mad at
30:13
me, as usual. That's OK.
30:15
Hey, I'm going to say my opinion on things.
30:17
It doesn't mean that you have to agree with me.
30:19
But I said something yesterday about financial planners, right?
30:23
The established financial planning industry.
30:26
And they don't ever talk about gold and silver.
30:29
We got that chart that shows like 1% of ETF money is in gold
30:34
and silver related ETS. You know the amount of financial
30:38
money invested in ETS. We haven't talked about this
30:41
forever, but somebody got mad at me.
30:43
OK, I'm sorry. I need to apologize.
30:45
I'm gonna need to apologize. Don't get myself in any more
30:48
trouble, right? But guys, there's no money in
30:52
the, the, the, the traditional big brand name financial
30:57
services industry. When you go sit down in their
30:59
office and you see their commercial on TV and these happy
31:03
grandparents with their grandkids frolicking through the
31:06
grass and oh, your financial freedom.
31:09
And we care about you. Yeah, we care about you because
31:13
you give us your money and we get to skim a little bit off of
31:16
it every year. They can't do that with gold and
31:19
silver, so they don't talk about gold and silver, right?
31:22
I'm not saying they're all bad guys.
31:24
And, and look, hey, let's be real, right?
31:27
With the liquidated Unicorn fart dust economy money printing
31:31
we've had over the last 20 years, you could have thrown a
31:34
dart and put your money. You know, you could be, you
31:37
know, you could be starved for oxygen and put money in an S&P
31:42
500 ETF and you got rich, right? You didn't need a financial
31:45
planner to tell you that. But none the less, they never
31:50
talk about gold or silver because they don't make sorry
31:53
and yelled coin chop. Chris got mad at me for yelling.
31:56
They don't make any commissions off gold and silver.
32:00
So they're like, oh, why would you buy gold and silver?
32:03
That's stupid. It doesn't generate any income.
32:07
It doesn't blah, blah, blah. Well, listen, I got a great
32:09
e-mail. OK, got in trouble, but I got a
32:12
great e-mail I'm gonna share with you here from Butch.
32:15
Every guy I know named Butch is a great guy.
32:18
Actually, there's a guy named Butch.
32:19
I used to live on a lake like 25 years ago, and I used to, let's
32:23
just say, drink a lot of liquid refreshments.
32:27
And Butch did too. And he had a ping pong table.
32:29
And one time I had a few too many liquid refreshments and I
32:32
bet my house on a ping pong game with him.
32:35
And so I owe this guy Butch my house, but that house is gone.
32:38
So anyway, we were just joking, I think.
32:42
I think anyway, OK, when you're talking about the guy from AARP,
32:48
this is some guy in Atlanta was talking about, oh, don't buy
32:51
gold, It's, you know, doesn't pay any income, blah, blah,
32:54
blah. Butch brought up a good point
32:57
here, Butchy boy. All right, That did not
33:00
recommend investing in precious metals because it does not
33:04
produce income. Thank you, Carlos.
33:06
What? Oh my gosh, we're going to have
33:09
to go look at that Barrick Gold down 99%, huh?
33:14
Wow. OK does not produce income.
33:18
I find that hypocritical because I will bet he encourages people
33:23
we're going to go look at Barrack as soon as we're done
33:25
with this point. He encourages people investing
33:27
and purchasing a home and plan on selling it later when it
33:32
appreciates in value. Yes, that's right.
33:34
All these financial planners will say buy a home, buy a home
33:37
and it'll go up in value. What is the difference?
33:39
A home does not produce income. Granted, you can live in it, but
33:43
to me it is no different than precious metals.
33:46
Yes, everybody needs a house, OK?
33:48
Everybody needs a roof over their head, shelter.
33:51
So critical, important human need like water and air, right?
33:56
We talked about that yesterday. But a house is not an
34:00
investment, right? A house cost you money.
34:02
When a house goes up in value quote, UN quote, you got to pay
34:06
higher personal property taxes if you paid how many of you own
34:10
homes have you paid your insurance bill yet?
34:14
Lately through the roof. OK, right.
34:17
Because it's it's so you know, a house, right?
34:20
They'll talk about that, but they won't talk about silver and
34:23
gold. It's absolutely madding.
34:26
Absolutely madding. OK, let's go out to Yahoo
34:29
Finance. Let's see what's going on.
34:32
Eric Gold here. Hold on.
34:34
Make sure I got you on. I do.
34:38
All right, guys, we're going to go look and see what is
34:40
happening with Barrick Gold. BARRI.
34:45
Barrick Gold. No.
34:51
Barrack's OK. Barrack's up 11 cents according
34:53
to this 1120 or 17211722. So if you have more information
35:01
on that, let me see the daily range.
35:05
Yeah. Whoa, you're right.
35:07
Barrick did drop down to $0.25, as you can see here.
35:11
The day's range. Yeah, I, I've been, maybe I'm
35:14
gonna turn it into an old man, but I've always used Yahoo
35:17
Finance. Let me show you guys real
35:19
quickly just in case you ever want to do research on
35:23
companies. There's a lot of great
35:25
information on Yahoo Finance and it's all free.
35:28
So there's Barrick. And then if you go down here,
35:31
yeah, the days range and the stock $0.25.
35:34
So sometimes, man, you got to be careful when you're buying
35:40
precious metal mining stocks because it's a market.
35:43
Guys. If you ever want me to do a
35:44
video explaining how it works, in particular with the smaller
35:49
mining companies that have very low volume, if you're buying and
35:53
selling stocks, I'm not giving financial advice, but please
35:57
know what you're doing and only use limit orders.
36:00
A limit order means you're only willing to pay a certain price
36:04
and no lower. And maybe somebody went in there
36:07
like this is a fat finger is what this is somebody
36:10
accidentally put in an order that it that sold at the market
36:15
and and probably a lot of shares and unfortunately learned a
36:21
very, very, very difficult lesson.
36:23
So anyway, oh boy, there's more. OK, Butch, thank you much for
36:29
that information. Is the D dollarization guys, and
36:35
we got this big breaking news of the apparently June 9th, the
36:40
Petro dollar and the Saudis are done.
36:42
Look, if you live in America, you may not like this and I'm
36:46
with you. So we're in the same boat.
36:48
I'm not putting you down or putting me down, but we have
36:50
lived, We have benefited off the work and resources of the rest
36:56
of the world for the last 50 years, in particular with the
36:59
Petro dollar, right when they forced the world to only sell
37:03
oil in dollars, the world had a lot of dollars.
37:06
What they do, it's real easy. This is very easy to understand.
37:10
They, we said, we basically forced the world to only sell
37:15
oil in dollars. So if they wanted to buy,
37:17
anybody in the world wanted to buy oil.
37:19
I'm simplifying this, but they had to have dollars.
37:22
So when then Saudi sold, everybody had all these dollars
37:25
and what did they do? Like, oh, we got all these
37:27
dollars, what are we going to do with them?
37:28
And the United States said, hey, we got an idea for you.
37:31
We love dollars. Actually, we'll borrow those
37:35
from you, right? That's how we were able to run
37:38
these massive debt levels up. It's the only reason why we did
37:42
the same thing to China over the last 20 years when they
37:45
manufactured all these goods. And then we paid them with
37:48
dollars. And they're like, well, what do
37:49
we do with these dollars? We're like, oh, we got an idea.
37:52
We like to spend more than we save in the United States.
37:56
Our government, right? We like to blow money on stupid
37:58
stuff. We'll borrow, we'll, we'll sell
38:01
you a treasury and it's all coming to a big, big end.
38:05
But let's, let's run out and look at this very crazy
38:09
insightful article from the Daily Hotel.
38:13
China dumps 101 billion in U.S. Treasuries in 12 months as Fed
38:18
governor dismisses the imminent demise of the US dollar.
38:22
Now you got to realize I'm not saying the dollar, there could
38:25
be a a sudden event where the dollar lost a lot of value
38:29
suddenly. That could definitely happen.
38:31
But at minimum, guys, at minimum, two key things to
38:34
understand. Do you think, ask yourself the
38:37
question, do you think that if the dollar really is in the
38:40
process of losing its world reserve currency status, do you
38:44
think the Fed governors are going to go out in public and
38:47
say, yeah, we're, we're, we're having a hard time, things
38:50
aren't going too well. No, right.
38:52
Absolutely not. They're not going to be like if
38:55
your bank was failing and you went to your bank this morning
38:59
to, to, to, to deposit some money or take some Unicorn fart
39:03
dust out, whatever, right? You flew up there on your
39:05
Unicorn. When you get to your bank, if
39:08
the bank's failing at a big risk, they're not going to when
39:11
you walk in the door, what you're going to see at your bank
39:15
is a big placard. They all have it, a big placard
39:18
saying we got a 3% money market checking account.
39:21
As long as you do this, this, this and that and blah, blah,
39:23
blah, we're never going to pay you that 3%.
39:25
But anyway, ask us about it 'cause then we get a 10%
39:28
Commission. If you sign up for it, you're
39:30
not going to see a sign at your bank that says, warning, we are
39:35
in big, steep trouble. We have too much commercial real
39:38
estate on our books. We have too many U.S.
39:40
Treasuries that are now worth $0.60 on the dollar.
39:43
No, right. So the Fed's not good.
39:44
These Fed governors aren't going to tell us there's trouble.
39:47
Let's just read this new number. So China sold over 100 billion
39:51
over the past 12 months. The Treasury Department says
39:54
China cut its holdings from 870 billion in March of last year to
40:01
only 767 billion. That's pretty big guys.
40:05
But it gets even crazier because look at this, China's holdings
40:09
have steadily dropped from an all time high of 1.3 trillion,
40:13
which was in November of 2013. Whoa, let's rewind. 1.3 trillion
40:20
in 2013 and we are currently sitting.
40:24
A little over half of that right now.
40:27
OK Wow. China is selling the dollar.
40:31
OK. At a recent conference on the
40:33
global importance of the US dollar, Fed Governor Chris
40:36
Waller, one of our favorite governors, said the demise of
40:40
the dollar is exaggerated but acknowledge the role of the
40:43
world's reserve currency is, quote, UN quote, evolving.
40:50
OK, let's read the orange stuff here.
40:52
I'm doing multi colors for you guys There are there has for
40:55
some time been commentary, this is Waller speaking, predicting
40:59
the dollar is destined for demise, potentially an imminent
41:03
demise. The role of the US and the world
41:05
economy is changing and finance is always changing.
41:09
The dollar remains by far the most widely used currency by a
41:13
number of metrics, and I probably agree with that.
41:16
And he talks about. But then Waller points to
41:19
America's use of sanctions against foreign nations as a
41:22
factor in the dollar's future dominant sanctions.
41:25
Yeah. If these sanctions and policies
41:28
are long lasting and shifting cross-border payment landscape,
41:32
including the rapid growth of digital currencies, could also
41:35
pose challenges to the dominant role of the US dollar.
41:39
Back in February, Walter said that despite the challenges,
41:42
nations have quote, few practical alternatives to the
41:46
dollar, noting that quote, in times of global stress, the
41:50
world runs to the dollar, not away from it.
41:52
I don't agree with you, Walley, Walley Waller.
41:55
No. Where does the world run now in
41:58
times of global stress? Where do you think the world
42:03
runs now when there's big trouble?
42:05
Where's the world running now? Right.
42:08
What's happening right now? It starts with G or S.
42:13
I'll give you a hint. The world's run into gold and
42:16
silver. That's what's going on.
42:18
I mean, it's just a fact. OK?
42:20
Oh, my gosh, the big question, right?
42:24
The thumbnail for this video. I get this all the time from
42:29
people scared. Does this scare you as a silver
42:31
investor? We'll just focus on silver.
42:34
But the truth, the exact same truth is, is true for gold.
42:38
But this is something a lot of people are scared about.
42:40
And I'm going to tell you my opinion and why you, I don't
42:43
think you really need to be that scared.
42:46
But again, just my opinion. Don't make any financial
42:48
decisions based on anything I say.
42:49
But I'm going to have a sip. A quick a sip, quick cup of
42:52
coffee. Thank you, Jake.
43:46
You saved the day. I forget.
43:48
OK. I forget where I was.
43:51
I remember where I am. I'll start over briefly.
43:53
Thank you, Jake. I had the microphone on mute.
43:55
Thank you. You really saved the day.
43:57
That happens about once a month now.
44:00
Guys, the big scary question people ask me all the time.
44:03
When silver goes to 80, when silver goes to 120, When silver
44:06
goes to 200, nobody's going to buy it, right?
44:10
And I I understand that completely because within the
44:12
context of where we are right now with $30 silver, let's go
44:17
look here quickly. We're going to do a refresh.
44:23
Take your blood pressure medicine.
44:25
Who knows, right? OK, Wow.
44:27
Gold's up $16.00, silver, $30.41.
44:32
OK, you see that right there? So, yeah, who would?
44:35
I understand? Who would, when you think about,
44:39
when you think about $50 silver, $80.00 silver, $100 silver,
44:45
who's going to buy it, right? Doesn't make sense.
44:47
Well, I'll tell you. Let me, I'll, I'll approach this
44:50
with you in two ways #1 let's say silver goes to $80.00 and
44:56
you got some silver you, but you think now, oh, nobody will buy
44:58
it. Nobody, right?
44:59
No, nobody would buy it because silver is not $80.00.
45:02
OK, if silver gets to $80 per oz, there's only one reason why
45:08
it got that high. OK, At the end of the day, it's
45:12
because people are buying it for $80.00.
45:15
If nobody's buying it for $80.00 an ounce, the price goes down.
45:21
OK, It's real simple. If if, if the price goes to 160
45:25
or 100, let's say 140, that's a little more reasonable.
45:29
The only reason the price goes to 140, it's a market, buyers
45:33
and sellers. If it goes to 140, it's because
45:36
people are buying it for 140. OK, think about another way to
45:40
think about it is this way. This way.
45:42
If we go back to the silver chart, OK, let's just pull that
45:46
up real quickly and we're going to go on a little time trip and
45:52
let's go to all. Here's the silver chart.
45:56
OK, we go back to let's go back. Let's go back 20 years ago.
46:01
So what is that five of O4? There it is right there.
46:07
OK, Silver was selling 20 years ago right now for $6 per oz.
46:16
Now if we were talking back then, OK, 20 years ago, 2004
46:21
and, and I and and, and I said I think silver is going to be
46:24
$30.00 an ounce in 20 years. And you'd be like, yeah, but
46:28
who's going to buy it? Who would buy it for $30.00 an
46:32
ounce? There's a lot of people who pay
46:34
$30.00 an ounce right now for an American Silver Eagle from 2004,
46:39
Probably pay a lot more than 30. I don't know what of 2004
46:43
American Silver Eagle's worth? So what?
46:46
Silver's up five times over that period of time, right?
46:49
Since 2004. So if silver goes up five times
46:53
from here, boy, that's some real complicated math.
46:56
Who knows the answer? Yeah, $150.00 per oz.
47:01
And you think, well, who's going to buy right?
47:03
The same guy who's going to buy it for 30 today from the guy who
47:08
bought it for six back in 2004. So I hope that puts that
47:13
question or puts your heart at ease a little bit.
47:16
I know it's hard to to to comprehend like $150.00 silver.
47:22
Nobody's going to pay, right? Nobody will pay that right now.
47:25
But the only way, there's only one way silver gets to $150.00,
47:30
just like the way it got from 6 to 30 over the last 20 years.
47:36
That's because people are willing to pay $30.00 an ounce.
47:39
I bet today there's a lot of people willing to buy your
47:42
silver for $30.00 an ounce, right?
47:45
Look at the guys in London. They're paying 6% over spot for
47:48
a lot of stuff. So that's all I got for you guys
47:52
today. Thank you for being here.
47:53
Thank you for being a critical part of Ron's basement.
47:56
It means a lot. Don't forget, please support our
48:00
sponsors, Pinbex, BI, MB, EX if you're looking to buy some
48:04
bullion. If you want to read and learn
48:06
about two very interesting precious metal mining stocks,
48:10
check out first Mining Gold and Fortuna Silver.
48:13
Excuse me #1 hold on a second. Number one, I remember to put it
48:22
back on there. Thank you again, Jake, for
48:24
saving my rear. I'd still be talking with the
48:27
microphone on mute. You have a great day, OK?
48:31
You are the most important part of the basement.
48:33
We're going to have some fun. It's going to be an interesting
48:37
ride. Imagine 20 years from now if we
48:39
have $150.00 silver. Take it easy.
48:43
I'll see you soon.