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💥 $85 Silver 💥 This Could Just Be the BEGINNING · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  $85 silver will feel like nothing when this whole system
• 0:06
  starts to fall apart and we see true price discovery.
• 0:11
  The value of silver, even as measured in Fiat dollars, could
• 0:16
  go through the roof. Yesterday I had a guest on my
• 0:18
  show, Daniel Tinkum. He talked about $200.00 silver.
• 0:23
  He even laid out the case for $1000 silver.
• 0:27
  And what about gold? We're going to touch on that as
• 0:30
  well. But guys, when we look at what's
• 0:33
  going on in the system right now, I understand.
• 0:36
  I get it. I completely understand.
• 0:38
  Even to me, the idea of $85 silver, 102 hundred or $1000
• 0:43
  silver can seem absolutely preposterous.
• 0:48
  But we have to realize multiple in multiple times increases in
• 0:52
  the silver price have definitely happened in the past.
• 0:55
  We know that. But what would be the catalyst
• 0:59
  to make that type of gain happen?
• 1:01
  Yesterday we got news from the Treasury Department.
• 1:05
  All right, Janet Yellen, borrowing money, our government
• 1:08
  continuing to borrow money at an unbelievable pace, they said.
• 1:13
  And this was perceived as good news.
• 1:15
  Can you believe this by the market that the that the
• 1:18
  Treasury is only going to need to borrow $770 billion in the
• 1:24
  fourth quarter? A lot of people thought it would
• 1:26
  be up to a trillion dollars, but it's only going to be 770
• 1:30
  billion. But when you combine the next
• 1:33
  six months, and when you combine what's going to be borrowed in
• 1:36
  the next six months, it's over 1.5 trillion.
• 1:40
  I want to put this in perspective for you one more
• 1:43
  time, $1.5 trillion being borrowed.
• 1:47
  OK, they are printing Unicorn fart dust.
• 1:51
  We joke around and call paper Fiat money, electronically
• 1:55
  printing money however you want to say it, at a pace like we
• 1:59
  racking up debt at a pace like we've never seen before.
• 2:04
  To put it into perspective, $1.5 trillion.
• 2:08
  Can you imagine? Can you imagine what one and a
• 2:12
  half million dollars looks like? Maybe you have one and a half
• 2:15
  million dollars, maybe you don't, right?
• 2:17
  But nonetheless, one and a half million dollars.
• 2:22
  Now imagine that one million times, yes, 1 million * 1 1/2
• 2:28
  million dollars is $1.5 trillion.
• 2:32
  We need to keep that in perspective.
• 2:35
  That's crazy. That blows my mind.
• 2:37
  Does that blow your mind? If that blows your mind, type 8
• 2:40
  in the comments section. Because that blows my mind that
• 2:43
  in the next six months your government in the United States
• 2:48
  is going to borrow $1.5 million, but they're going to do it
• 2:54
  1,000,000 times. And my question is this.
• 2:58
  So we know that they're going to borrow $1.5 trillion.
• 3:02
  Does that include, because I'm hearing and you've likely heard
• 3:05
  this as well, that $16 trillion worth of debt is going to come
• 3:11
  due in the next year during 2024.
• 3:14
  Does that number, that 1.5 trillion, I don't think that
• 3:18
  even includes the fact that we're going to have another 16
• 3:20
  trillion that's going to have to be paid off and refinanced.
• 3:24
  It is getting out of control. When we talk about skyrocketing
• 3:30
  real values and real assets, things like silver, does it
• 3:34
  start to make sense, these numbers that are going on right
• 3:38
  now? Oh, and by the way, we're going
• 3:39
  to need to be continuing to fund two wars that are occurring on
• 3:44
  foreign soil. Where's that money going to come
• 3:47
  from? Where is all this money going to
• 3:49
  come from? It is out of control.
• 3:51
  Let me just briefly read this to you from our friends at CNBC to
• 3:55
  put this into into into context. Treasury Department said it will
• 4:02
  be looking to borrow $776 billion.
• 4:06
  The Treasury said it expects to also borrow another $816 billion
• 4:12
  between January and March. That's how we get to $1.5
• 4:15
  trillion. And thank you Clifton for the
• 4:19
  unbelievable generous super chat of $100.
• 4:24
  I'm blown away. Super generous.
• 4:27
  Super appreciated. The support you guys give me and
• 4:30
  Susie and our family and the channel goes a long way.
• 4:34
  So thank you, Clifton, from the bottom of my heart.
• 4:37
  OK, I mean that. Thank you.
• 4:39
  The announcement comes ten days after the government said the
• 4:43
  fiscal 2023 budget deficit would be $1.7 trillion.
• 4:50
  I'm going to do it one more time.
• 4:51
  Stay with me. Our government is spending 1.7
• 4:54
  trillion more than they're bringing in.
• 4:56
  Thank you, Thomas, for the Super chat.
• 5:00
  That is, imagine $1.7 million. Now imagine that a million
• 5:07
  times. I mean, well, how is this even
• 5:09
  possible? And how are you going to tell me
• 5:12
  that anyone in the world is going to continue to have
• 5:16
  respect for the almighty U.S. dollar, right.
• 5:20
  I mean Daniel Tinkum was we talked about this yesterday.
• 5:23
  It's, you know, the the the dollar is not infallible.
• 5:28
  The dollar is not. Yes, it's the, the most powerful
• 5:31
  currency still in the world. But my gosh, at some point,
• 5:35
  reality has to set in, OK, says in a In a closely watched
• 5:39
  announcement Monday afternoon, the US Department of Treasury
• 5:42
  said it will be looking to borrow all this money.
• 5:45
  OK, why is it so closely watched?
• 5:47
  Because of this, guys. We've had sloppy Treasury
• 5:51
  auctions lately. People are starting to wake up
• 5:55
  to the fact that all this debt that's being issued by the US
• 5:59
  government, it's a big, big problem.
• 6:02
  There is no tether. You know why?
• 6:04
  You know why they've been able to do it?
• 6:07
  Because there's no tether. In 1971, President Nixon
• 6:10
  temporarily took the United States off the gold standard.
• 6:14
  It had worked pretty well for centuries and centuries.
• 6:17
  Allowed the United States of America with the base of gold
• 6:21
  and silver as the tether for the value of our money.
• 6:25
  Like an like a ship that's anchored right.
• 6:28
  It it it, it, it imposed discipline on our leaders.
• 6:32
  Once, once Nixon took us off the gold standard.
• 6:35
  Now we're just floating out there.
• 6:36
  Thank you. Happy Halloween, Mary, my fellow
• 6:39
  basement dweller. Thank you for the Super chat.
• 6:42
  It's allowed our government to just print money whenever they
• 6:46
  want, for whatever they need. There's no discipline that's
• 6:50
  been imposed upon our leaders and guys.
• 6:53
  It can't go on forever. It's very sad.
• 6:56
  You have children. I have children, grandchildren
• 6:59
  maybe as well. What does that mean for silver
• 7:03
  and gold? Because remember when the dollar
• 7:04
  was tethered to silver and gold? That kind of, actually, if you
• 7:08
  think about it, would have held down as measured in dollars and
• 7:13
  Fiat money, the value of silver and gold when we get to 100
• 7:16
  thumbs up. Thanks to Susie, we got a
• 7:19
  special surprise. No bells today.
• 7:21
  So we're going to get there real soon.
• 7:23
  Now. It's nothing.
• 7:25
  It can be printed. Stanley Druckenmiller.
• 7:28
  And you may not know Stanley, but Stanley is a billionaire.
• 7:31
  One of these big hedge fund guys.
• 7:34
  He went, let me let me read this.
• 7:35
  He slammed Janet Yellen yesterday.
• 7:39
  OK. He destroyed Janet Yellen.
• 7:42
  He said, Quote. I literally think if you go all
• 7:44
  the way back to Alexander Hamilton, it was the biggest
• 7:48
  blunder in the history of the Treasury.
• 7:51
  I have no idea why she has not been called out on this.
• 7:55
  She has no right to still be in that job.
• 7:58
  And what he's saying is why she didn't thank you, Tony, for that
• 8:02
  super chat, man. You guys are extremely generous
• 8:05
  today. Thank you.
• 8:06
  What he's saying is why Janet Yellen didn't refinance all the
• 8:11
  debt when rates were at super low rates.
• 8:13
  And now guys, this is a big freight train, big, big scary
• 8:18
  piece of trouble heading at the US government.
• 8:21
  They have to refinance $16 trillion worth of debt in the
• 8:25
  next year. That is at much higher interest
• 8:29
  rates. It's going to it.
• 8:30
  It is. It is a an absolute doom
• 8:34
  situation. I hate to have to say that.
• 8:36
  It it is Halloween. It is doom.
• 8:38
  All right, Susie's yelling at me.
• 8:40
  I got to do one of the Halloween things to celebrate that we got
• 8:43
  the 100 thumbs up. Which one?
• 8:47
  The bear. OK, you can thank Susie for
• 8:52
  this. Well, how do I do it?
• 8:55
  Oh, OK All right.
• 9:09
  That's the Halloween bear. You can thank Susie for that
• 9:12
  one. That was not my idea.
• 9:13
  Hello, Jake. Thank you, my friend.
• 9:15
  Wow, you guys. Thank you so much for the Super
• 9:18
  chats. They're calling out.
• 9:21
  They're calling out Janet Yellen.
• 9:23
  She has made a major blunder. We are headed toward big, big,
• 9:27
  big, big scary financial issues in this country.
• 9:31
  OK, remember, we just had an unbelievable Q3 GDP.
• 9:36
  I'm telling you that was the the peak of the party, this supposed
• 9:42
  4.9% GDP growth, the peak of the party.
• 9:47
  I believe we'll look back at that and say that was when a
• 9:50
  quote, UN quote peaked this morning.
• 9:53
  Did you hear the big news out of Caterpillar?
• 9:55
  Caterpillar stock is down almost 6% today.
• 9:59
  That's a blue chip. What does it mean when
• 10:02
  Caterpillar reports that their backlog of orders is shrinking?
• 10:07
  It shocked the market. It surprised the market.
• 10:09
  Did it surprise? It didn't surprise me.
• 10:11
  It didn't surprise me. I talked about this three, six
• 10:14
  months ago with you. I said when we start seeing big
• 10:17
  companies like Caterpillar talking about their backlog of
• 10:20
  orders are going down, that is a horrible sign for what's to come
• 10:24
  in the economy. Why, you may ask?
• 10:28
  Think about it before any big construction project starts, or
• 10:32
  when it starts, what's the first thing that they do?
• 10:35
  They have to move earth. What do they move earth with?
• 10:38
  They move earth with Caterpillar equipment, big bulldozers, big
• 10:43
  backhoes, trackhoes, whatever they're called.
• 10:45
  When a construction pipeline starts to slow down, the big
• 10:50
  construction companies are going to pull back on their equipment
• 10:54
  investments and that's exactly what we're seeing right now.
• 10:58
  Couple that with the fact that we know that the trucking right
• 11:02
  over the road, trucking rail and even intermodal all everything
• 11:07
  is is dropping. I talked to leaders in those
• 11:11
  segments, they all say the same thing that volumes are down,
• 11:16
  down, down. Caterpillar right the beginning
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  of the construction process, the company that supplies the
• 11:22
  equipment that that that makes it happen moving the earth,
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  nothing happens until they move the earth is reporting a big
• 11:30
  slowdown. We got interesting times coming,
• 11:33
  but let's talk about how we got to this point and why right now
• 11:37
  with $85 silver. Why?
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  Why? I'm going to tell you why.
• 11:42
  Because any of the remedies now, OK, to rescue the system will
• 11:46
  have to be bigger and bigger and bigger.
• 11:49
  Let's take a look back at what happened, right.
• 11:52
  We've been we've lived through the good times, the bailout
• 11:54
  years, the 0% interest rate environment.
• 11:58
  Now everything has escalated. Everything is at a whole new
• 12:02
  level. Thank you Sassy Silver.
• 12:05
  I'll buy some extra Halloween treats for the girls.
• 12:07
  Thank you guys. You've been blowing me away with
• 12:10
  your generosity. Very much appreciated.
• 12:13
  Craig Edmonds. Wow.
• 12:16
  It's it's a it's a super chat Jamboree this morning.
• 12:21
  Thank you. Everything's escalated.
• 12:24
  Everything is at a whole new level right now.
• 12:27
  We gotta realize that. We just talked about the
• 12:30
  national debt. We talked about the Treasury
• 12:33
  selling 700 billion, 800 billion.
• 12:35
  I'm not gonna do the million, million, trillion thing to you
• 12:38
  again, but it's a big, big deal. The numbers have escalated.
• 12:43
  OK, Peter, Grandage tells me back in the 80s, we didn't even
• 12:46
  know what a trillion was, right? Nobody.
• 12:49
  Now we're throwing around trillions like they're nothing.
• 12:52
  How did we get to this point? It started with the bailout
• 12:55
  years, OK? And we've been through this
• 12:58
  wonderful period where they they basically squandered possibly
• 13:04
  right. Maybe I'm wrong.
• 13:05
  I don't know. Don't make any financial
• 13:06
  decisions based on what I'm saying.
• 13:08
  But but maybe they squandered the wealth of the country over
• 13:12
  the last 40 years. OK, remember, it started with
• 13:16
  Long Term Capital Management. They did a bailout.
• 13:19
  Then rememberthe.com bubble burst and Greenspan did some
• 13:23
  bailouts, right? And you know how it went.
• 13:26
  Then we got to the great financial crisis and nobody
• 13:29
  could be held responsible. Nobody could have any real pain
• 13:33
  except for average Americans who had a lot of pain with their
• 13:36
  houses and lost houses. But the big guys, the big
• 13:39
  bankers, they didn't have any pain.
• 13:41
  They all got bailed out. Nobody went to jail.
• 13:44
  I think one guy went to jail from the great financial crisis.
• 13:47
  Remember 2007, 2008, everybody got bailed out.
• 13:52
  A lot of the bankers got bailed out and got big bonuses as well.
• 13:57
  Everything escalated, escalated. Then remember 2018-2019, the
• 14:02
  repo crisis? You may not remember that, but
• 14:05
  that required another big, big bailout.
• 14:08
  And then the mother of them all, the health crisis that unfolded
• 14:13
  in March and April of 2020 where the biggest bailout, everything
• 14:19
  has escalated, escalated, escalated.
• 14:22
  More debt, bigger, bigger medicine.
• 14:25
  To deal with it they printed 40% of all dollars that have ever
• 14:29
  been created in like a two-month period during 2020.
• 14:33
  We have gotten to a point where now, now the system is so big
• 14:39
  that the the, the, the remedies are so big, have escalated and
• 14:43
  escalated the guys. Next time I'm telling you $85
• 14:47
  silver, $3000 gold, $4000 gold, $8000 gold.
• 14:53
  I don't care. You can be mad at me all you
• 14:55
  want. Those numbers are possible,
• 14:58
  probable potential, right? I could be wrong, but when you
• 15:04
  look at what the numbers are behind everything, and Dan
• 15:06
  Tinkman pointed this out yesterday, that's why he said if
• 15:09
  you do this, some simple math, you can get to $200.00 silver.
• 15:14
  Very easy. You can get to $1000 silver.
• 15:18
  I know, mind blowing, right? We get yelled at for saying $100
• 15:22
  silver. We're pumpers.
• 15:24
  I'm a pumper. No, no, you know, nobody's
• 15:26
  telling me. I'm just telling you what I
• 15:29
  believe in what I see and I believe the party is over.
• 15:33
  OK, we did QE. We did QE too.
• 15:36
  We did the repo market fix. We did the money printing.
• 15:40
  It's all a bunch. It's all been a bunch of make
• 15:43
  believe. Why?
• 15:44
  Let's not forget why? Because in 1971, President Nixon
• 15:47
  took the United States off the gold standard.
• 15:51
  There was no more discipline necessary.
• 15:53
  You could make as many dollars as you want.
• 15:56
  And you know what? They took full advantage of it.
• 16:00
  It was like having a a Halloween party for your 18 year old
• 16:04
  daughter and all her friends and giving them an open bar, right?
• 16:09
  Sure. You know, I mean, that's
• 16:11
  essentially what happened. They were like a bunch of
• 16:13
  drunken teenagers spending money because they could just make it
• 16:17
  up out of nowhere. And to make let's factor this
• 16:20
  end as well, what do we know that's going on right now?
• 16:24
  We also know the last, the last, the last form of discipline that
• 16:31
  was placed on these people who are managing your money and my
• 16:35
  money, our community money right the the, the, the, the debt
• 16:39
  ceiling. It wasn't just raised, it was
• 16:42
  removed. We have no debt ceiling.
• 16:44
  Through 2025 the situation has escalated but the party is
• 16:49
  almost over, especially I believe the Q three 4.9% GDP
• 16:56
  print was rang the bell for the top right and why?
• 17:00
  One big thing if you look under the cover at that big GDP beat
• 17:05
  right, the US economy is still driven almost primarily by the
• 17:10
  consumer and the consumer didn't make any more money during the
• 17:14
  during that quarter. But what they did do is spent
• 17:18
  more on their credit cards, spent more with debt.
• 17:21
  It was all driven by more and more and more debt.
• 17:27
  So now we're in a new phase, the reality phase, OK, because
• 17:30
  reality does set in. So now what we're going to see,
• 17:34
  we're seeing things like markets and turmoil guys.
• 17:36
  The bond market, the 20 year bond market, the TLTI hear it
• 17:41
  all the time, is down 50%. the US bonds, 20 year US bonds are
• 17:46
  $0.50 on the dollar. That's turmoil.
• 17:50
  That's a big, big deal. The bond market's three times
• 17:54
  the size of the stock market. We've got to consider what's
• 17:59
  really going on right now. We still have rising inflation
• 18:04
  at the same time that we have rising interest rates on bigger
• 18:08
  and bigger and bigger levels of debt.
• 18:12
  Think about it. Think about as you as an
• 18:13
  individual, OK, if you have 100,000 in debt and you're
• 18:18
  paying 3% a year, you're paying about 3000 a year in interest.
• 18:23
  If you have a half million in debt and you're paying 8%,
• 18:28
  you're paying 40,000 a year in interest.
• 18:31
  In a lot of ways over the last 20 years, that's what's happened
• 18:35
  in our country, right? It's it's just on a much larger
• 18:38
  scale. Sure.
• 18:40
  The national debts now 456 times higher and now we're being faced
• 18:45
  with a very sobering reality of higher interest rates and that
• 18:51
  all that gets piled back on to the debt, to the actual debt
• 18:55
  level. It's not a good situation.
• 18:58
  And all this is occurring in an environment where there's less
• 19:01
  money around, less money to loan.
• 19:04
  We're at a tipping point, OK? We are at a tipping point.
• 19:09
  And no matter, no matter, no matter how it plays out right, I
• 19:14
  believe Silver and gold investors are going to do very
• 19:19
  well this morning. I was, I was relieved to see
• 19:22
  before I came on the gold price is still pushing and holding
• 19:27
  above $2000 per oz. I don't we don't like the war.
• 19:32
  We've talked about that OK. But based on everything going on
• 19:36
  in the world right now, we have $2000 per oz gold.
• 19:42
  Silver has a lot of catching up to do.
• 19:45
  OK, the mining stocks have a lot of catching up to do.
• 19:49
  But let's take a step back and realize guys, right now the spot
• 19:54
  price. I look at the spot price, not
• 19:56
  the futures. The futures price is even higher
• 19:58
  on Yahoo Finance or one of those places we have $2000 gold.
• 20:03
  Will it hold? It'll be interesting to see how
• 20:06
  it plays out here, especially in the next four or five weeks.
• 20:09
  Are we building a new base? We've been at it now for two or
• 20:14
  three weeks, meaning a lot of the people who all those people
• 20:18
  think about this because it's just a big market, all those
• 20:22
  people out there. That said, man, when gold gets
• 20:25
  to $2000, I'm going to sell. They've already sold OK, so if
• 20:31
  we can keep pushing and keep pushing with gold, we don't need
• 20:35
  war. We don't need violence for the
• 20:38
  for the gold price and the silver price to do well.
• 20:41
  The our politicians and the world leaders have done a good
• 20:45
  enough job of screwing up the financial system that when true
• 20:49
  price discovery occurs for gold and silver, we don't need a
• 20:54
  bunch of. We don't need violence for it to
• 20:56
  happen. Geopolitical uncertainty.
• 20:58
  OK. Fundamentally, the numbers
• 21:01
  behind it all. Thank you, Sorcerer Sam.
• 21:03
  Happy Halloween. Yes, in the spooky basement.
• 21:06
  Don't forget, guys, when we get the 200 thumbs up right, we got
• 21:10
  another crazy stuffed animal. Thanks to Susie.
• 21:13
  So hang in there. We're going to get there this
• 21:15
  morning. Absolutely true part price
• 21:19
  discovery. OK, let's just talk briefly
• 21:22
  about this because this is exciting.
• 21:25
  The fact that the SGE, do you know what the SG, what does it
• 21:29
  mean when the SGE has a 6% higher price on gold?
• 21:34
  Yeah, gold will cost you $100 more per oz to buy on the
• 21:40
  Shanghai Gold Exchange. That's an important acronym for
• 21:44
  us to remember because it is setting the new price for gold
• 21:48
  and their volumes are increasing.
• 21:50
  But but what do you think it means?
• 21:54
  What do you think it means when the Shanghai Gold Exchange, they
• 21:57
  actually are a more physical market?
• 22:00
  That means, guys, that the world is changing.
• 22:03
  The gold and silver markets are changing, all right.
• 22:06
  The underlying fundamentals with what is gone on monetarily and
• 22:14
  fiscally in the United States support a much, much, much
• 22:19
  higher price. Are you a believer that we could
• 22:22
  see $3000 gold next year? My call is 2600.
• 22:26
  Do you believe we could see $3000 gold next year?
• 22:30
  If you do type Yi want to, I want to see how many people
• 22:35
  think we can get. I'm going to say no, and I hope
• 22:38
  I'm wrong. I'm going to see how many of us
• 22:40
  believe that we could actually see that $3000 gold price next
• 22:45
  year. And you know, we're silver.
• 22:48
  Silver is going to be in the mid 40s.
• 22:50
  Sassy silver welder guy. No.
• 22:52
  Jake says no. Jim McDonough gives us 2800.
• 22:56
  No, no, maybe, says James Berryhill.
• 22:58
  No. Todd Pauley?
• 23:00
  Yes. Andy Oakley?
• 23:01
  No. Wes.
• 23:02
  Yes. Lone Ranger.
• 23:04
  Yes. Yeah, There's a lot of people,
• 23:06
  even some analysts, who are calling for $3000 gold next
• 23:11
  year. Think about what that'll do to
• 23:14
  the silver price. Think about it would be
• 23:16
  unbelievable. What would happen to the gold
• 23:19
  mining stocks in a $3000 gold environment?
• 23:24
  The gold miners, you know, their cost typically don't skyrocket
• 23:29
  that much, right? Anything.
• 23:32
  Any extra $100 per oz that comes through, if inflation remains
• 23:37
  reasonable, it basically becomes more cash flow for the mining
• 23:42
  companies. Old Dirty Bastard Garage says 29
• 23:45
  O 5 for a Buffalo gold coin. Yeah, very interesting.
• 23:51
  Next we're going to we're going to focus on.
• 23:53
  And again, Clifton Moberg, thank you for that awesome super chat.
• 23:57
  He donated $100 to Ron's basement.
• 23:59
  That is so appreciated. Never expected, but always
• 24:04
  super, super appreciated. Thank you Clifton.
• 24:06
  And guys, don't forget if you want to see, I'm going to make a
• 24:08
  piece of content every day for the rest of my life.
• 24:10
  When you're here in the basement, you you are a basement
• 24:14
  dweller. Hopefully you get entertained, a
• 24:18
  little bit, educated and can make some friends because
• 24:20
  there's a lot of great people that participate in this
• 24:23
  channel. Don't forget we're going to have
• 24:25
  a new website coming out later in the year with a chat room.
• 24:29
  ronsbasement.com. You'll be able to go there and
• 24:32
  thank you to Pinbex, our sponsor online bullying dealer, right?
• 24:37
  If you want to get some silver before it, no prediction.
• 24:40
  Well, it's my prediction, No guarantee.
• 24:42
  But before silver potentially skyrockets, check out Pinbex.
• 24:46
  They got great deals on all kinds of silver.
• 24:50
  I did my research on Pinbex. I buy from Pinbex.
• 24:53
  I think if you check them out, you'll like what you see too.
• 25:02
  Thank you, Nigel, for that super chat.
• 25:04
  I have a sip of coffee. And we're going to talk some
• 25:06
  interesting facts about Silver, some new information coming out.
• 25:10
  Thank you, Debbie. Wow.
• 25:15
  There's a controversy about how much Silver, and some people say
• 25:21
  it could be astronomical, is used by the defense industry.
• 25:26
  And we're not just talking the defense industry in the United
• 25:30
  States. We're talking the defense
• 25:31
  industry worldwide. And with the unfortunate turn of
• 25:35
  events that we've seen over the last two years with with more
• 25:39
  and more war basically breaking out, this becomes increasingly
• 25:44
  important. How much silver is actually used
• 25:48
  by the defense industry? Well, the defense industry is
• 25:50
  obviously usually very tight lipped and I guess you could say
• 25:55
  secretive, which is part and understandable about about what
• 26:00
  they do and and how much natural resources they use.
• 26:04
  But think about this, we always hear about silver, we know,
• 26:07
  solar panels we know, microchips we know, jewelry we know,
• 26:11
  silverware we know. But do we ever see any numbers
• 26:14
  related to the amount of silver used by the defense industry?
• 26:19
  My friend John Little put out a great piece of content regarding
• 26:24
  this. I'm just going to touch on a few
• 26:26
  of the big keys because we really haven't received accurate
• 26:31
  numbers from our government regarding silver usage, silver
• 26:35
  stockpiles, anything like that for a long time.
• 26:38
  I put a link to his sub stack in the description of this video.
• 26:44
  The title of his article was Silver Goes Nuclear and this
• 26:47
  initial piece of article just talked about the astounding
• 26:52
  amount of silver that was required during the I guess it
• 26:56
  was called the Manhattan Project during World War 2 to build the
• 27:00
  nuclear like 14 tons of silver for each one of these windings.
• 27:04
  And there were, I'll let you dig into it, but I just want to get
• 27:07
  into some of the highlights that he covered.
• 27:10
  He asked why did the United States stop reporting on
• 27:14
  Department of Defense usage of silver functions of the IT was
• 27:18
  under the US Bureau of Mines were reassigned to other
• 27:20
  departments of the federal government.
• 27:22
  Statistical Gathering of Department of of Defense failed
• 27:27
  to be reassigned. So it was like, it was like they
• 27:31
  used to report on how much silver we had in this country.
• 27:34
  They used to report on how much was used and then it got shifted
• 27:38
  amongst a bunch of different departments and now it's like
• 27:41
  almost impossible for anyone to really know, it said. after
• 27:45
  World War One, the US War Department and weapons industry
• 27:49
  began raiding the US strategic stockpile of silver.
• 27:53
  By the mid 1940s, the draining of the strategic stockpile was
• 27:58
  so exhausted that the US began a campaign of kind of
• 28:03
  disinformation to to not let people know how much silver we
• 28:08
  had in this country. He compared it to a game of
• 28:10
  three card Monte. You know, like the shell game.
• 28:13
  Like, oh, we're moving over here and, oh, we're going to have
• 28:15
  this department talk about silver this year, in this
• 28:18
  department next year, OK? Like a sleight of hand trick to
• 28:22
  alter historical records of the percentages of silver used in
• 28:25
  various industrial uses in place of military applications,
• 28:31
  weapons manufacturers and other industrialists, many of whom sit
• 28:35
  on banking boards of big banks, begin to plan to use paper
• 28:39
  future silver derivatives trading.
• 28:42
  Right. They're using the paper market
• 28:44
  okay to keep silver prices artificially low.
• 28:49
  In addition, at the same time, they're draining silver out of
• 28:54
  our nation's strategic stockpile that we used to have.
• 28:57
  Why would they do that? John asked.
• 29:00
  Because industrialists want low factory inputs, raw materials,
• 29:04
  labor overhead, thus yielding more profit margins and the
• 29:08
  ability for them to make more weapons.
• 29:10
  I'm hearing people quote this all the time that even now like
• 29:13
  one of these Tomahawk missiles, that a lot of these cruise
• 29:17
  missiles, those types of things will have like the equivalent of
• 29:21
  a monster box, 500 ounces of silver in them.
• 29:25
  The defense industry uses a lot of silver for many different
• 29:29
  applications, but it's never really accounted for.
• 29:33
  I think it's the bottom line because a lot of what they do is
• 29:35
  secret or top secret, which again is understandable by the
• 29:40
  present day. Because of all this secret
• 29:43
  military use and silver price suppression schemes that made
• 29:48
  silver an expensive mineral for hundreds of military
• 29:51
  applications, the US has begun experiencing record silver
• 29:56
  deficits. We know that from the Silver
• 29:59
  Institute. And 79% of all of our silver
• 30:05
  comes from foreign nations. 79% of the silver that we get in the
• 30:11
  United States comes from foreign nations.
• 30:13
  We don't mine very much silver in this country.
• 30:16
  Hekla Mining is probably the biggest mining company up in
• 30:20
  Idaho with their Lucky Friday mine and they also have a mine
• 30:24
  in, in Alaska, Greens Creek. But there's not a lot of silver
• 30:28
  mining in this country. Is there silver here, right?
• 30:31
  Well, there's this Tonopah district that like Summa Silver
• 30:34
  is exploring out in Nevada. There's AI believe it's called,
• 30:39
  oh shoot, there's another one in New Mexico, Magdalon project
• 30:43
  that Suma has. There could be some hundred of
• 30:46
  hundreds of 1,000,000 maybe, you know, hundreds of hundreds of
• 30:50
  1,000,000 silver deposits in this country.
• 30:52
  But the silver mining industry in the United States has been
• 30:56
  suppressed for a very, very, very long time.
• 30:59
  So again, when we talk about that, that's what that's what I
• 31:07
  love about silver, right. We know all right what we what
• 31:11
  we talked about earlier, we know that the fundamental mathematic
• 31:15
  monetary, fiscal component of silver as a monetary metal, how
• 31:21
  compelling that is, right? I mean, come on, All the debt,
• 31:25
  all the deficits, the mismanagement that's gone on,
• 31:28
  that alone is supportive for the silver price.
• 31:31
  Then you factor in the huge demand for silver.
• 31:35
  This is a new thought for me. You're experiencing something
• 31:37
  new. That's another reason to love
• 31:39
  silver, right? You've got the monetary
• 31:42
  component, the fundamental, how screwed up everything is, the
• 31:46
  Unicorn fart dust component of silver, right?
• 31:49
  The paper money, Fiat money, debt, however you want to slice
• 31:52
  it or dice it, that alone is enough support for a much higher
• 31:57
  silver price. But then you factor in the
• 32:01
  demand and we're talking about like we don't even know how much
• 32:04
  the Defense Department uses. We don't even, we don't really,
• 32:08
  you know, we don't know how much the solar photovitalic segment
• 32:13
  is going to need all the electrification of the world.
• 32:17
  And then thank you, Crafty Stacker, candy corn, Ding Dong
• 32:21
  Fun. I got to get that to coin shop,
• 32:24
  Chris. Absolutely.
• 32:26
  So you got the monetary component, you've got the demand
• 32:29
  component. And then to make matters even
• 32:32
  worse, we don't have a good supply.
• 32:34
  The supply of silver is going down, down, down and hardly
• 32:40
  anybody's looking for new silver deposits.
• 32:42
  That's why I have invested in like Summa Silver, Dolly Vard
• 32:46
  and Silver, some of those companies.
• 32:47
  I'm not giving financial advice. I have talked to the CE OS.
• 32:51
  I like what they're doing. I think right now is a great
• 32:54
  time to be buying silver, physical silver, right?
• 32:59
  Where is it? Here it is my heart.
• 33:01
  Don't worry, I'm going to do the 200 thumbs up thing in a second,
• 33:04
  right? It's a great time to hold this
• 33:06
  stuff right. But if I can't hold it in my
• 33:09
  hand, to me, the second best way to own silver, or gold for that
• 33:14
  matter, is to own it in the ground.
• 33:16
  And own it in the ground in a safe jurisdiction somewhere like
• 33:19
  Canada, the United States. I mean, these companies are
• 33:23
  exploring for silver and finding silver oz for less than a dollar
• 33:28
  an ounce, $0.50 an ounce, $0.30 an ounce, $0.60 an ounce.
• 33:32
  At some point that's going to become very, very valuable.
• 33:36
  That's my premise. I could be wrong.
• 33:38
  Now, if you want to own gold in the ground, don't forget about
• 33:41
  our other big sponsor first, mining gold.
• 33:45
  They have 13 million ounces of gold in the ground in Canada,
• 33:49
  OK, led by a top notch management team, no doubt about
• 33:54
  it. You can go to their website,
• 33:56
  firstmininggold.com. If you have any questions, you
• 33:59
  can e-mail Paul Morris, the Director of Investor Relations.
• 34:05
  He'll be happy to talk to you about what's going on with the
• 34:08
  company as they're moving through what is an exciting
• 34:11
  phase. You know, they're like working
• 34:13
  on getting permits for two of their projects.
• 34:16
  One in Quebec, one in Ontario, that both have over 5 million
• 34:21
  ounces of gold in the ground each.
• 34:23
  Call Paul, give Paul a call, send him an e-mail.
• 34:26
  Trust me, you'll be glad you did.
• 34:28
  He's a super, super nice guy. Now back to gold.
• 34:32
  Here's some interesting information.
• 34:36
  Have you heard this story before?
• 34:38
  Oh, wait a minute. We got 200 thumbs up.
• 34:40
  You guys have been super generous with me today.
• 34:42
  Unbelievably generous with me today.
• 34:46
  Now here he is. I don't know what I got to push.
• 34:51
  What do I push? This is from Susie, huh?
• 34:56
  I squeeze his belly, she says. All right, I'm going to squeeze
• 34:59
  his belly. Hello boy.
• 35:11
  Hopefully I'm not losing subscribers over that.
• 35:13
  You can thank Susie for this guy.
• 35:15
  Happy Halloween. Susie's the best.
• 35:20
  She decorates the house unbelievably for all the
• 35:22
  holidays, including Halloween. For those of you that were with
• 35:25
  us on Sunday night, I did a live stream from the dining room.
• 35:29
  We have a Christmas tree that stays up year round that gets
• 35:32
  decorated for every holiday. I love Susie.
• 35:34
  If you love Susie, type 8 in the in the comments.
• 35:40
  OK? Because she's the best.
• 35:41
  Hello. Hello.
• 35:42
  Sassy Silver, My friend Tony Erickson.
• 35:45
  Man, this is unbelievable. 400 people on a Halloween 220 thumbs
• 35:51
  up. You guys are awesome.
• 35:53
  Let's we've Are you tired of hearing it?
• 35:56
  You're going to hear it from me one more time because it's good
• 35:59
  news for precious metals investors, the world central
• 36:03
  banks. Let me ask you a question.
• 36:06
  If you were like having a neighborhood party and you were
• 36:08
  talking to one of your neighbors and you've heard, overheard
• 36:11
  somebody talking about not the richest guy in your
• 36:15
  neighborhood, but the second richest guy and some investment,
• 36:18
  what he's been doing with his money and you know he's the
• 36:23
  second richest guy in your neighborhood.
• 36:24
  You know, Warren Buffett's not at the party, but you're hearing
• 36:28
  about, let's say, what Elon Musk or or who's the guy that started
• 36:32
  Amazon? Jeffrey Bates.
• 36:34
  I don't know. How can I not remember?
• 36:36
  Anyway, Getting old? I can't remember.
• 36:38
  We'll say Elon Musk. You hear what Elon Musk is
• 36:41
  doing, you'd pay attention. So if the world central banks,
• 36:46
  the most sophisticated financial institutions in the world, are
• 36:50
  doing something making an investment, wouldn't it make
• 36:54
  sense for us to pay attention? And we got breaking data here.
• 36:59
  OK, this is from our friends at the Financial Times, of all
• 37:03
  places. OK China leads record central
• 37:08
  bank gold buying in the first nine months of the year.
• 37:12
  So now we've got the first nine months cumulative data, OK, says
• 37:17
  here China has spearheaded record record levels of central
• 37:20
  bank purchases of gold globally in the first nine months of the
• 37:24
  year as countries seek to hedge against inflation and reduce
• 37:30
  their reliance on the United States dollar.
• 37:34
  Why would they want to get rid of the US dollar?
• 37:36
  Maybe they just heard that Janet Yellen's going to borrow another
• 37:39
  $1.5 trillion in the next six months.
• 37:43
  Don't forget, 1.5 trillion is 1.5 million one million times.
• 37:49
  I won't say that again, I promise.
• 37:51
  Central banks have bought 800 tons in the first nine months of
• 37:54
  the year, up 14% year on year, according to the report from the
• 38:00
  World Gold Council. This voracious rate of buying
• 38:04
  has helped bullion prices defy surging bond yields and a strong
• 38:09
  dollar to trade just shy of 2000 an ounce.
• 38:11
  And when I came on it was over $2000 per oz.
• 38:16
  So here's the good news. Here's the good news.
• 38:22
  The gold price has done very well.
• 38:24
  We are guys. The all time high is 2070
• 38:28
  dollars. We're at $2000.
• 38:31
  We are we are within a stone's throw of new all time high in
• 38:36
  the gold prices. Take a deep breath and let that
• 38:39
  sink in. But at the same time this has
• 38:43
  happened in the face of very difficult circumstances for gold
• 38:48
  right? The dollar going up, interest
• 38:51
  rates going up, investors pulling money out of the out of
• 38:55
  the big ETFs in the Western countries.
• 38:57
  As soon as a couple of those factors turn around, we're going
• 39:00
  to see the gold price in the silver price absolutely perform
• 39:05
  like we could only dream of. I'm saying 2600, some of you are
• 39:10
  saying 3000, I don't know, right.
• 39:12
  But but let me ask you a question right now and you can
• 39:16
  say Y or N Do you think that see if we look out 12 months from
• 39:21
  now Halloween 2024, do you think that we will still have record
• 39:29
  high central bank gold price, I'm sorry, gold buying?
• 39:33
  I'm gonna type my answer in the chat and I will encourage you to
• 39:39
  do the same. So if you think about that, if
• 39:42
  you think that if you happen to think we will have continued
• 39:47
  record central bank gold buying over the next year.
• 39:49
  Do you think World Peace is going to break out, Everybody's
• 39:52
  going to start getting together, OK.
• 39:56
  But if you don't and if you do think that we're going to have
• 40:00
  continue to have that record gold buying, think about if
• 40:04
  maybe, just maybe a few more people doesn't even increase
• 40:09
  people stopped selling. Their gold in the West because
• 40:13
  that's what's been going on. The people in the West are have
• 40:17
  been net sellers of gold in particular.
• 40:21
  If that stops, OK, think about what that would do to the
• 40:25
  market, All right. Think about if the dollar starts
• 40:29
  to drop, what that would do to the market.
• 40:32
  You guys want to see our new Kitty cat?
• 40:36
  Hey, Susie, are you on here? Oh, can you bring Benny down
• 40:41
  here? We have a new cat that's both
• 40:43
  gold and silver. We're going to bring, it's a
• 40:45
  kitten. We're going to bring them on
• 40:47
  here in a second. Think about that.
• 40:50
  Think about think about the fact that if we continue with the
• 40:54
  high central bank gold mine and this is a ball, has everything
• 40:58
  to do with silver as well. But we also get just the outflow
• 41:04
  of money in the West stops. God forbid that we get an inflow
• 41:09
  of money, because that could happen as well.
• 41:11
  People could wake up, interest rates could start to go down the
• 41:16
  dollar. OK, I'll be right back.
• 41:17
  I'm going to come get Benny. Susie's got him at the top.
• 41:20
  I'll be right back with a kitten who doesn't want to see a
• 41:22
  kitten. All right.
• 41:37
  Come on. Hey, hey, hey.
• 41:42
  Never been down. Here before, so you know I love
• 41:52
  silver and gold and Susie's gotten me to love kittens.
• 41:57
  So we, our neighbor had some kittens and I said no way I'm
• 42:03
  going to have three cats. And she said, but this one he's
• 42:07
  he's I said there's I said we already have a silver cat.
• 42:10
  I said we'd have to have a gold cat.
• 42:11
  She said this guy is silver and gold colored.
• 42:14
  So this is Benny and he's a good boy.
• 42:16
  I don't want to scare him. He's a really good boy.
• 42:19
  Let me bring him up to see if he'll look at the camera for
• 42:22
  you. Hey Benny, you say hi to
• 42:24
  everybody. Oh yeah, that's Benny.
• 42:29
  And he's really a good cat. He's great.
• 42:31
  The other cats like him. I'm going to put him up here.
• 42:34
  Maybe he'll hang out for a little bit.
• 42:37
  He's a good boy anyway. I appreciate everybody being
• 42:41
  here putting up with me and my shenanigans.
• 42:43
  And Benny, The future is bright for the precious metals, there's
• 42:50
  absolutely no doubt about it. But longer we can stay above
• 42:55
  $2000.00 with gold, the more likely it is that we're building
• 42:59
  this floor. I'm going to show you the cup
• 43:01
  and handle because it makes us excited and it's reality.
• 43:04
  This is look. All joking aside, the cup and
• 43:07
  handle pattern is one of the most reliable, most predictable,
• 43:13
  and one of the most strong technical indicators out there.
• 43:17
  And we've got a cup and handle in both silver and gold.
• 43:21
  Pull up a long term chart and you can see it plain as day.
• 43:25
  I think the one I have here, right there it is guys.
• 43:33
  Pull up gold, look at it the same way, OK.
• 43:37
  If this was gold, we'd say 2000, right?
• 43:42
  And right now we're right back there again and I heard, I heard
• 43:46
  some of the top hedge fund, one of the top hedge fund managers
• 43:49
  said this about a month ago in regards to the the gold price.
• 43:54
  And you know again I have to always say this when I'm talking
• 43:57
  about gold, I'm talking about silver.
• 43:58
  But a key thing to remember with gold is it has tried to
• 44:02
  breakthrough this top that it's hitting yet again very close to
• 44:08
  three times. He said it's very unusual that
• 44:11
  that a price gets rejected three times, extremely unusual.
• 44:15
  It's even more unusual that it gets rejected four times and
• 44:20
  when where gold goes, silver price will follow.
• 44:24
  It's going to be very very exciting.
• 44:26
  And I I got to tell you one more time we got to remember when
• 44:30
  gold gets the new all time highs in U.S. dollars, it's already
• 44:33
  gotten to US. The all time highs in Japanese
• 44:36
  yen, Chinese Yuan, Australian dollars in the UK and Canada.
• 44:41
  Everywhere else in the world has already gotten all time highs.
• 44:44
  When it gets to highs in U.S. dollars, OK, everybody is going
• 44:49
  to be in the profit zone. There aren't going to be a ton
• 44:52
  of sellers. There's not many people.
• 44:54
  There were a lot of people. Think about this.
• 44:56
  There were a lot of people, let's say, over the last six
• 44:59
  months, maybe five years. That said, you know what?
• 45:02
  I've been holding on to gold. If it ever gets to $2000 again,
• 45:05
  I'm going to sell, I'm selling, I'm selling.
• 45:08
  Those people are all selling right now.
• 45:10
  When we get to $2200 gold, I'm telling you, you think about
• 45:14
  there aren't a lot of people out there that are saying I'm going
• 45:17
  to sell my gold if it gets to 2300 dollars.
• 45:20
  I'm going to sell my gold If it gets to 22, no, there aren't
• 45:24
  going to be. Everybody at that point is like,
• 45:27
  man, I'm, I'm glad I bought gold.
• 45:29
  I'm smart, I'm a I'm, I'm in the profit.
• 45:32
  So the upward resistance, the upward pressure, selling
• 45:37
  pressure is not going to be there and we can move quickly.
• 45:41
  I know I say it every day, but it's worth repeating because it
• 45:45
  could be a very exciting time for us investors.
• 45:48
  Hey, I hope you have a great Halloween.
• 45:51
  I'm looking forward to going out with the girls tonight to do
• 45:54
  some trick or treating. You never know, I might jump on
• 45:57
  later. We'll see.
• 45:59
  Maybe just to wish everybody Happy Halloween.
• 46:01
  But I do hope you have a great holiday.
• 46:03
  Get maybe spend some time with some kids or get to see some
• 46:06
  kids. Kids love Halloween, you know,
• 46:09
  be good to yourself. Thank you for being here.
• 46:12
  Happy Halloween to everybody. Thank you to all the moderators.
• 46:15
  Thank you for all the Super chats.
• 46:18
  Super generous. OK again never expected but
• 46:22
  always really appreciated. We're in some interesting times
• 46:27
  guys. I know it's Halloween and it's
• 46:28
  scary, but it is scary when we look at the national debt.
• 46:32
  When we look at Janet Yellen talking about 1.5 or one, yeah,
• 46:37
  $1.5 trillion needs to be borrowed in the next six months.
• 46:41
  And I don't think that even includes all the other debt that
• 46:45
  needs to be refinanced in a bond market that's running out of
• 46:49
  steam. You know, that's a very
• 46:52
  interesting scenario. All right.
• 46:54
  We protect ourselves with silver and gold, and I think silver
• 46:57
  protects us from vampires as well.
• 46:59
  May you be safe. Thank you for being here.
• 47:01
  And I'll see you guys soon.