Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 CRITICAL! - This is WILD! ✅ (Gold and Silver Price, China NEWS!)

Transcript

🚨 CRITICAL! - This is WILD! ✅ (Gold and Silver Price, China NEWS!) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
The gold and silver price should have been clobbered over the
0:04
weekend. We should be down right now,
0:06
$1.00 per oz, $1.50 per oz and silver.
0:10
No, I don't like it. No, I don't want it.
0:12
But the good news is we are not all eyes were on China over the
0:17
weekend. China is becoming increasingly
0:20
important to the price of your silver and your gold.
0:24
And there was a big announcement on Saturday from China, where
0:28
everyone was hoping and waiting for big news on a stimulus
0:33
program out of China. And what they delivered was #1
0:37
underwhelming. And #2 they didn't give a lot of
0:41
detail. Let's run out to Reuters to see
0:44
what they're saying about this. Reuters tells us that world
0:49
shares, meaning the world stock markets, are stuck oil tumbles
0:54
as China's stimulus plan is too vague for investors.
0:58
What is it this have to do with your silver and your gold?
1:04
We're going to get into that. We got a lot more to get into on
1:06
this big, big live stream video as well.
1:10
China's stimulus announcement fails to inspire investors.
1:15
Also coming up this week, and we're going to talk about that,
1:17
the ECB, the European Central Bank will be getting their
1:21
interest rate monetary policy decision that could have a major
1:24
impact on the silver and gold markets.
1:27
But also the oil price has dropped 2.5%, OK, Since China
1:33
failed to inspire the markets here globally, just two
1:36
paragraphs we're going to cover here.
1:38
Basement dwellers, I appreciate you being here.
1:40
Globally, the focus was firmly on China, where the government
1:43
on Saturday pledged to significantly increase debt but
1:47
left investors guessing as to the overall size of the
1:50
stimulus, a detail needed to gauge the longevity of a stock
1:55
market rally. We didn't get much over the
1:58
weekend, but our expectations were not for much anyway.
2:02
I still think more fiscal stimulus is coming this year and
2:06
in the coming year. So guys, the situation in China
2:09
does impact massively the price of silver and gold, OK, from an
2:15
industrial use perspective for silver, but also from an
2:19
investor perspective. Look, the bottom line is this,
2:22
the Chinese economy is in deep trouble.
2:25
I talked to a couple high level Chinese people over the last few
2:29
weeks and they explained to me we're kind of in the dark on
2:32
this in the United States. China is going through a
2:36
situation right now that is very similar to what the United
2:39
States went through in the great financial crisis, a real estate
2:43
bubble that has burst, a attracting economy.
2:46
The only thing the Chinese government will be able to do is
2:50
print money, and it's the reason why that's so important.
2:54
As an example, the Chinese economy by most measures is
2:59
considered to be now the second largest in the world.
3:01
Some people, including the BRICS countries, I've heard, say that
3:05
China's economy is the number one economy in the world.
3:10
And on top of that, the other reason why it's important is
3:13
because Chinese people love gold.
3:16
Chinese China is the number one importer of gold in the world.
3:20
And we know according to those people at Citibank, Citigroup,
3:26
right, isn't it interesting what they told us that the Chinese
3:29
citizenry is now getting very interested in buying silver as
3:34
well. Thank you for being here.
3:35
Hey, thank you, Frank, for that super chat.
3:37
Frank Cabaggio bricks conference.
3:40
We're going to touch on that. There's we got the trifecta of
3:44
of major events coming at us guys in the not too distant
3:48
future. It is going to be absolutely
3:50
crazy. Boy, we're all over the place
3:53
this morning. But I do want to read this
3:54
comment from our friend TC Boys. I noticed that as I was
3:58
frantically getting ready here for our live stream video event
4:03
that I'm so glad you're here with us.
4:04
But TC boys, we always read all your comments.
4:07
It says the Indian rupee has hit a record low against the US
4:10
dollar. In such circumstances, when a
4:13
currency is losing value, a common strategy to safeguard
4:18
wealth is investing in assets like gold.
4:22
Great point, TC boys, right? If you're in India right now and
4:27
the value of your currency, the rupee, I love how they say it in
4:31
India, is going down, down, down in value.
4:36
Where are you gonna put your money?
4:37
Who are you gonna call Ghostbusters, right?
4:40
We've looked at a chart of silver in the Indian rupee.
4:43
We know there's 100 million farmers in India that love
4:47
silver. We know they're having a good
4:48
harvest. I have that on good word.
4:50
There's going to be a massive amount of silver and gold bind
4:53
on top of the fact of what our friend TC Boys brought up, which
4:57
is that the Indian rupee. The rupee is going down, down,
5:01
down in value and coming to a country near you soon, the
5:06
United States of America, right? I'm a patriotic, right?
5:10
Where is it? There it is, right where we love
5:12
America. Guess what?
5:15
We're going to be in the same spot.
5:16
We're going to have a rapidly depreciating value of our U.S.
5:19
dollar and people, not just the cost code ads.
5:25
Yes, Costco selling record amounts of silver, gold, now
5:28
platinum. Who knows what they'll do next,
5:31
right? And toilet paper and pancake
5:33
mix. But we're going to have a
5:34
massive wave of new people coming in.
5:36
Wow, guys, we have so much to talk about.
5:38
There's big, big, big. We are in exciting times right
5:42
now. We're going to cover it all.
5:44
But first I want to say the most important thing.
5:47
Thank you. Yeah, you right.
5:50
There's only one you. It's called YouTube.
5:52
Thank you for being with me here in the basement.
5:54
It is a big deal. I want to meet up with you as
5:57
much as possible. So please subscribe to the
6:00
channel, turn on the bell notifications and super chat.
6:03
Super thanks are always super appreciated.
6:06
Our friend Nick actually gave a donation through PayPal.
6:10
I want to say thank you to Nick for that donation to Ron's
6:12
Basement. Much appreciated.
6:14
I send messages back on PayPal, but I don't know that people get
6:17
notified that we did that. So I try my best to mention it.
6:20
Thank you, guys. Big, big deal.
6:22
But it's not just that, OK? The entire commodity sector is
6:28
being pummeled today thanks to China being vague and uncertain.
6:32
They're going to print money like crazy, OK?
6:34
There's no other way around it. But oil is getting clobbered.
6:37
It was down almost two and a half, 3% earlier.
6:41
This China news is a big deal. We have to stay on top of what
6:45
is going on in China because it will impact you and your
6:51
precious metals investors. Otherwise in the world, the
6:55
whole world right now, right, Everybody's losing their jobs.
6:59
The labor market throughout the world globally is slowing down.
7:03
We know in the United States, we just got news on what Friday of
7:07
last week, initial jobless claims spiked.
7:10
OK, Boeing 17,017 thousand, I won't say it again.
7:15
That's think about Madison Square Garden, think about your
7:18
local 20,000 seat arena that's almost packed full of people
7:22
that have are are losing jobs that pay 100K80KA150K plus great
7:29
benefits. This is big, OK, Now it's
7:32
happening in the European Union. The ECB is talking about the
7:36
European Central Bank is talking about jobs numbers slowing down.
7:39
It's real. It's happening.
7:41
Look at this. See if I can find the right one
7:43
here. No wrong one, wrong one.
7:47
Here we go. I don't think I have you guys.
7:49
Hopefully. All right now, we'll go here.
7:53
Stay with me. Basement dwellers here in the
7:57
United States. Job cut.
7:58
This is stunning. US job cuts announcements are
8:02
skyrocketing. The number of job cuts announced
8:05
by US employers had $175,000 year to date, three times higher
8:12
than 2022. So compared to just two years
8:16
ago, we have job cuts that are three times higher.
8:19
In September, firms announced in September 1 month 73,000
8:25
layoffs, the second highest September in 13 years.
8:29
That doesn't even include the 17,000 that Boeing just
8:32
announced after the close of the market on Friday.
8:35
This is not good, guys. Let's look at this chart and see
8:38
if we can make heads or uh oh, what did I do?
8:42
Oh no, let's get rid of that. Maybe it's on the screen.
8:46
Hold on here guys, this is from global markets investors.
8:49
There's job what is that? United States non farm payrolls.
8:53
Where's the job cut? Hold on, let's get rid of this
8:57
and let's go back. Can we pull this up?
9:00
Nope, apparently not. So we will just look at this and
9:04
you as you can see the white line is the unemployment rate.
9:08
Let's see if I can make this bigger for you basement
9:10
dwellers. Thanks for sticking with me
9:14
here. OK, so the white line is the US
9:18
unemployment rate and the yellow line is the Conference Board.
9:22
Jobs plentiful minus hard to get.
9:28
I have no idea. Anyway, job job cuts are
9:31
skyrocketing guys, and it's not going to get any better.
9:34
OK, what is that? Also, what else do we know?
9:38
Inflation. Wait till you hear this week.
9:41
Inflation is the is a silver and gold investor.
9:45
Inflation is the biggest deal right now that you want to pay
9:50
attention to. Inflation will rule the day as
9:54
we move through 2025. There is nothing right.
9:58
We are in a new world right now for silver and gold.
10:01
Nothing will drive the price of silver and gold higher at this
10:04
point like inflation. It's like we're in stage 2 of a
10:08
rocket blast off. And by the way, we're going to
10:10
look at some more rocket videos in a little while.
10:12
Unbelievable. But that's not the point.
10:14
We're in stage 2 for silver and gold, inflation, rocket blast
10:19
off. It's just like the 1970s.
10:21
It's happening. OK, And what did we hear?
10:23
Wait till wait till you hear. Wait till you hear this latest
10:27
news on inflation from the Kobe C letter.
10:34
This guy is great. the US consumers inflation expectations
10:38
for the next 5 to 10 years skyrocketed to 7% in October,
10:45
the highest in over 40 years. This metric is doubled, doubled
10:52
in just several months, according to the University of
10:56
Michigan Consumer Survey. So it is doubled in just the
11:01
last two months. And it's at 7%, right?
11:04
7.1%, which is the highest in over 40 years.
11:08
Take a breath. Let that sink in.
11:11
These are inflation expectations, guys.
11:14
Nothing will drive the price of gold and silver like inflation.
11:18
Take a look at a chart from the 1970s.
11:20
Okay, take a look at history. Take a look at a chart from the
11:25
year 425 AD through now, right through any time period.
11:32
Inflation will because gold and silver is, if we measure them in
11:37
any form of historical paper money, have held their value
11:41
against what has always been rapidly depreciating Fiat
11:45
Unicorn fart dust paper money. OK, look at this chart.
11:49
Unbelievable. See if this one will pull up.
11:53
OK. These are inflation
11:54
expectations. This goes all the way back to
11:57
the early 1990s. Do you see the red circle?
12:02
We are heading into some very scary times from a monetary
12:06
perspective. And don't forget what's going to
12:08
happen when these inflation numbers explode.
12:13
Your neighbors, the average American, the average is going
12:17
to freak out. We just went through a massive
12:21
19 percent is is what is what most people are saying, 19%
12:25
inflation. What was that 2022?
12:28
Americans were bruised and battered by that, but they
12:32
didn't really freak out. OK, when this next, excuse me,
12:36
sorry I hit you there. When this next wave of inflation
12:39
comes around in 2025, everyone is going to freaky deaky, OK?
12:45
They're going to be like, what is going on?
12:47
What happened, what's happening, What's happening?
12:50
Remember that show what's happening anyway, It'll be it'll
12:53
be I want, I want you to close your eyes and think about August
12:56
of next year. That's what, 10 months from now,
12:59
nine months, whatever, you know what I'm saying?
13:01
And suddenly we have inflation spiking, OK, Because guess what?
13:06
the Fed can't really control inflation.
13:08
And guess what? Number 2, the Fed doesn't really
13:12
want to fight inflation because the only chance that the Fed has
13:16
for the system to keep going is to inflate away the debt.
13:20
That's that's period, OK? They're going to have to
13:22
monetize the debt. We've covered this ad nauseam.
13:25
We know that. So in in August of next year,
13:29
when your neighbors start to wake up, right in that $6.5
13:33
trillion that they have in money market accounts.
13:37
I have money in money market accounts.
13:39
I'm not putting you down, right? We all have to play by the rules
13:42
of what's going on right now. But nonetheless, $6.5 trillion
13:47
in money market accounts. And I ask you, why is that
13:50
important? Why is that a big deal?
13:51
Because that is safe money. That's money that people want to
13:56
they, they feel like that's their their, their money they
13:58
have set aside for times of uncertainty.
14:02
Remember that times of uncertainty.
14:05
So they'll put their money. That's what people that were
14:07
born in the 40s and 50s think like my money's always safe in
14:11
the bank. I can put my money in the bank.
14:13
The banks are safe because they've never experienced any
14:16
major, major issues. OK, I'm the same way.
14:20
I'm not putting anybody down. But the fact remains, there's
14:23
6.5 trillion in those money market accounts.
14:26
That's safe money for uncertain times, right?
14:29
They don't want to take risks with that money.
14:31
They don't want to put it in the stock market.
14:33
They don't want to put it in the bond market.
14:34
They don't want to buy residential real estate to rent.
14:38
They don't want to be a landlord, right?
14:39
What? What do you think's going to
14:40
happen in August? Remember, we're in August of
14:43
2025 when they go to the grocery store and they're like, wow,
14:47
it's really true what they're saying.
14:49
Inflation's good kicking up again.
14:51
They're going to freak Freaky Deaky and I'm getting calls from
14:55
all kinds of people about silver and gold.
14:57
They're going to move that money to silver and gold.
14:59
If 1% of that $6.5 trillion were to make its way into precious
15:06
metals, if it just went into silver, let's say, it would
15:08
double, it would double the amount of money in the silver
15:13
market. The whole silver market's worth
15:15
33 trillion. The whole year's production's
15:17
only worth 3033. I'm sorry, billion.
15:21
And you know, 1% of 6.5 trillion is $65 billion.
15:27
That would they could buy the entire world output of silver
15:31
two times over. And that's nothing because don't
15:34
forget, this is so the reason why we're not living.
15:40
We aren't living in fantasy world.
15:42
They're living in fantasy world, right?
15:44
Because we can look back and we can realize, right, that
15:47
compared to where we are now, like people had like 20 times
15:51
more money in precious metals and precious metals oriented
15:54
investments in 1980 than they do now.
15:58
So to think that we could have two or three or four or five
16:00
times, we're being conservative. We don't want to be too excited.
16:05
I am excited you're here. Thank you, thank you, thank you.
16:09
OK, let's pull up that super chat from Frank, my friend
16:13
Frankie. Frankie, thank you for the Super
16:14
chat goes a long way to help me keep the channel going.
16:18
So thank you, guys. Thanks to everyone in advance.
16:20
Never give super chat money or any donations that you can't
16:24
afford, OK? If you can and you want to be
16:26
nice, that's great. Not expected, not necessary, but
16:29
very appreciated. Very.
16:31
Oh my gosh, where do I want to? Where do we want to go next?
16:34
There's so much. OK, inflation.
16:36
Big deal. How about a three-year old?
16:38
A three? Look, it's a massive deal.
16:42
We just talked about all this money, right?
16:45
3 * 4 * 20 times the amount of money coming into the precious
16:49
metal sector. Why?
16:50
Because silver and gold are embedded in your head.
16:56
You've been brainwashed. I'm brainwashing you.
17:02
Watch my finger, OK? No, Americans, not just all
17:06
Americans, are brainwashed into believing and knowing because we
17:11
know it's true that gold and silver are valuable.
17:15
I How about a three-year old? A three-year old?
17:18
I got a story for you. You know why I'm a little
17:20
unorganized this morning 'cause I took my kids to Six Flags
17:23
yesterday. I'm 54 years old.
17:25
I can't even write. Anyway, my cousin SpongeBob
17:28
showed up with this beautiful 3 year old daughter.
17:31
Cutest kid in the world. And she occupied me for a couple
17:35
hours, and I loved it. Here, let me show you a picture.
17:37
But this little girl is gonna teach you something about gold
17:41
and silver and why the price would could quadruple or or or
17:45
even go up. Hold on.
17:46
Here. Here she is.
17:47
I'm gonna call her Mrs. A. There she is.
17:50
She's so cute. OK, So I'm talking to her
17:52
yesterday, OK? And she's won't leave me alone,
17:56
which is great. I love it.
17:57
And I have this candy jewelry. See, I had opened it and blah,
18:02
blah, blah. And I said, you want a piece
18:03
that she loves candy. Yeah, well, I love candy.
18:05
So what color do you want? You know what she said?
18:08
You know what she said? She said gold.
18:12
I'm like gold. I'm like, why gold?
18:15
And she's three years old. And she said because gold is
18:18
best. She's three years old.
18:21
I said really. I said, and this is what she was
18:23
talking about. This is these rings, they're
18:26
candy jewelry rings. OK, and it's really orange, but
18:30
she thought that was gold. And she said I want the gold
18:33
and, and I and I think I said this already.
18:35
I said why? And she said because it's best.
18:38
And then I thought, OK, I'm this kids smart and she is smart,
18:42
very cute, drugged me all over that park.
18:44
I had to ride these little Choo Choo trains with her, all kinds
18:46
of stuff. But that was fine.
18:48
I was going to get ready for the live stream, but that was fine
18:51
because 12 year old, my twins, they, you know, they want to run
18:53
around by themselves. Anyway, I thought I'm going to
18:56
quiz her. So I said, really?
18:58
I said, well, if gold's the best, I said, which is second
19:01
best? I was fishing for a silver
19:03
lover. So if she says silver, I'm going
19:05
to say, Oh my gosh, I'm not going to lie to you.
19:09
She said purple's second best. I said no silver, but here you
19:14
get the gold ring. So I gave her the gold ring.
19:16
But the idea here is this. And here.
19:18
Here she is. Hold on a minute.
19:20
I made another picture of her. I put it on the.
19:23
Oops. Hold on.
19:23
Let me pull that up. That's me with the clown.
19:26
That was me at the Comex last week when I went on my trip.
19:29
My my thing. Anyway, that.
19:33
Yeah. So that so that this is when I
19:35
told her that paper dollars are more valuable than silver, and
19:41
she laughed. The point here, guys, is this
19:44
it's real simple, OK? She's three years old.
19:48
Americans are brainwashed at a young age.
19:53
Everybody knows silver and gold are valuable.
19:55
That will come very handy to US silver and gold investors when
19:59
we. When when we when we have the
20:02
mad mania into gold and silver, when everybody's talking about
20:08
it right now. We got the Costco dads.
20:10
I'm a Costco dad. OK, right.
20:12
OK, no big deal. Where were we?
20:15
OK, OK, $50 silver, 50. Did he say that $50 silver?
20:27
Was listening to the Silver Hermit last night, one of my
20:30
favorites? Listen to this.
20:32
And he said something that we need to remember.
20:35
Very simple, but a fact about silver in particular.
20:41
We know we've had an artificially low manipulated
20:44
silver price by those clowns at the Comex, right?
20:47
Don't forget. All right, Not that one, that
20:52
one. Not that one, that one, right,
20:54
These guys, right. See the guy on the left, that's
20:56
who we can thank for the artificially low silver price.
21:00
But think about this, OK, That is, this is so simple.
21:05
Discouraged production, right? Who wants to?
21:09
Who wanted to? Who wanted to dig silver out of
21:11
the ground at 20 bucks an ounce? Nobody.
21:13
Most of the big silver companies pivoted to gold.
21:16
OK, so that discouraged production and and I hadn't
21:20
thought about this silver hermit and he's got a video with
21:23
Mountain Bullion Brian from Mountain Bullion Entertainment.
21:26
Anyway, this artificially low price discouraged production.
21:33
So we have less silver production.
21:35
We know that. We know the facts, but it also
21:37
encouraged consumption and I hadn't really thought about
21:42
that. Have you thought about that and
21:44
encouraged companies because it's so cheap to consume as much
21:48
silver as they want, OK, That creates a future price supply,
21:54
supply and demand price crisis. This is this is eventually,
22:01
eventually basement dwellers. OK, markets expose corruption.
22:06
The COMEX in the LBMA. Now there's people that have
22:10
spent decades, their lives proving that the COMEX in the
22:13
LBMA have artificially suppressed the price of silver,
22:17
right? There's example after example.
22:19
We know JP Morgan traders were convicted two years ago, right?
22:24
Fine, I think maybe even put in jail.
22:27
It's real. It's happened.
22:29
That discouraged production, encouraged consumption.
22:32
But at the end of the day, market forces always.
22:37
This is a fact. This is a universal fact.
22:39
This is like gravity or whatever, 2 + 2 = 4, right?
22:44
Not even God. I mean, God made it that way so
22:47
it can't be manipulated. Markets always, always, always
22:52
expose corruption. And we could be coming very
22:55
close to that point right now. OK, eventually, when investment
23:00
demand skyrockets. And that's what's really going
23:02
to do it. It will be much greater.
23:06
Oh, this was great. Another thing that he said, OK,
23:07
So when investment, everybody's saying investment demand is what
23:13
is needed to really propel the silver price higher, OK?
23:19
We're talking, we're not just talking these, OK, right, Silver
23:24
rounds, silver coins, that's important, no doubt about it.
23:28
But the investment demand that also comes from things like the
23:32
ETF's, from sovereign wealth funds from countries like
23:35
Russia, from all those 1.4 billion Chinese people.
23:38
So when that happens and the price skyrockets, guess what?
23:42
The miners aren't going to be able to make more silver.
23:44
That's a fact. Everybody knows that.
23:46
On top of that, and this was something very critical that
23:49
that I think is a new idea for a lot of us.
23:51
Think about this, when that investment demand skyrockets,
23:56
the recyclers aren't going to be able to come anywhere close to
24:00
compensating for that. And it all comes back to, OK,
24:04
the fact that we know the above ground surplus right now, the
24:08
silver slush fund that we've talked about here, right?
24:12
The world, whatever it's called, the Silver Institute, the World
24:15
Silver Institute, whatever it's called, that's the World Gold
24:18
Council. No, the Silver Institute, we're
24:22
in our fifth year of of consuming way more silver than
24:26
is produced by the miners and the recyclers.
24:28
It's getting sucked out of the silver slush fund, the above
24:32
grown surplus that really the reality is nobody knows how much
24:36
is in it. But we do know one thing for
24:39
sure about the silver slush fund, the silver surplus fund
24:43
that's being used now to plug that gap.
24:46
We do know one critical, critical thing that I will
24:50
argue, and I will say 100 percent is a fact that whatever
24:53
that number is, it's finite #1 but think about it.
24:59
So let's say it's 3.3 billion oz, which I have no idea.
25:04
Nobody knows. Nobody knows.
25:07
We know that it's finite, and we also know that it's shrinking in
25:12
any number that's finite and shrinking and continues to
25:17
shrink. Guess where it goes?
25:19
Eventually it goes to 0. You get nothing, right?
25:24
And that's what they're going to tell the Comex in the LBMA,
25:27
those clowns who've been killing us for so long.
25:30
When it gets to 0 and if we continue at the same rate, I'll
25:33
ask, I'd love to get that guy, Jeffrey Christian's take on
25:37
that, right? If it's a finite amount, we know
25:40
that whether it's a billion, ten billion, 3 billion, I'm going to
25:43
say 3.3 billion and it's shrinking.
25:47
Doesn't any finite number that continues to shrink eventually
25:51
get to 0 MIC drop? All right, that's what we have
25:56
to look forward to and that's what we're going to see.
25:58
Silver Hermit said he went out on a limb and thinks that we
26:01
could still see $50 silver by the end of this year.
26:04
We love you, Silver Hermit. We love you, Mountain Bullion.
26:08
Keep up the good work. Really, really some great
26:10
content. Go check them out for yourself.
26:12
OK, let's go. Let's go, let's go.
26:15
OK, get ready for the clown show.
26:19
It's Halloween season, right? The Federal Reserve clown show
26:23
is back at it again this week. So just be prepared.
26:26
I want you to know what's going on, right?
26:29
They're going to send out the clowns and they're going to be
26:31
talking. They're going to be squawking.
26:33
Who knows what they'll say. Who knows what impact it could
26:36
have on the precious metals prices.
26:38
But let's go take a look at what we can expect this week and even
26:43
today, OK, even today. Let's go out to though our
26:47
friends at Pendeks. I'm going to say thank you.
26:50
The channel sponsor, PMBEX, we're at their website right
26:53
now. Make sure we got us there, which
26:54
we do. They're an online bullion
26:58
dealer. Do you know what that means?
27:00
That's a website where you can buy gold, silver and platinum
27:04
group metals. But guess what?
27:05
There's a lot of websites out there where you can do that.
27:09
What I like about PMBEX is number one, first and foremost,
27:14
I know for me, it's a company that I trust 100%.
27:18
And that's a big deal because no matter what price you get, no
27:21
matter what selection you have, you got to make sure first and
27:24
foremost that it's a company you can trust.
27:27
I can just give you my experience and I know the
27:30
experience, the overwhelming experience of the basement
27:33
dweller community is that we trust this company.
27:37
They've done well by my, by me and by everyone who who from our
27:42
community has given them a shot. What I also like are their
27:46
prices always, always, always right.
27:49
Ultra competitive pricing, meaning I get more metal for my
27:53
money. I think I've made 65 or six big
27:56
purchases from them over the last probably 16-15 months.
28:01
And I know I bet if I add it all up, I bet I've gotten it like
28:04
compared to some of the other the prices on some of the other
28:07
big online bullion dealers. I bet I, I honestly think I bet
28:11
I've gotten like an extra 100 oz just by the with the money I've
28:15
saved with Pendbacks. Yeah, I'm not gonna no way.
28:19
This can't be right. Hold on a second here, guys.
28:22
This is not right. This is from yes or Friday
28:25
maybe, but we're gonna check the price here.
28:28
We're going to press the Pinbacks magic button.
28:30
Please help support the channel. Help support Pinbacks and yeah
28:35
Oh my gosh, guys, this is awesome.
28:37
Silver's up $0.23. What?
28:41
No. Is that live?
28:42
I can't. Gold is at 2646.
28:47
OK, we're at 3111 on the silver price nonetheless, right?
28:53
The bottom line is, guys, today with what happened over the
28:57
weekend with China, we are in this new era where silver and
29:02
gold are resilient and strong. And it's a lot of fun.
29:05
And I'm glad you're here with me.
29:07
Let's go look at the econ calendar just so you're on top
29:09
of what's going to happen this week.
29:10
Today Fed Waller speaks, OK. Tomorrow we got Empire State
29:16
Manufacturing. That'll show that the economy is
29:19
slowing more. Another Fed governor, Adriana
29:22
will speak on Thursday. We have the Philadelphia Fed
29:26
manufacturing index, initial jobless claims.
29:29
That'll be very interesting. Remember, as we look up here,
29:33
it's spiked last week. They're expecting 245,000 retail
29:37
sales. That's always such BS number.
29:39
I mean, it's always, it's like nominal, you know, it's not.
29:42
They don't really adjust that for inflation.
29:45
Home builder. Let's see, Friday we got another
29:49
Fed speaker. OK, We got a bunch of Fed
29:53
speakers this week. They're going to be spewing
29:57
their Fed speak. Are we still alive?
30:05
I think we're still alive. Hello.
30:07
OK, basement dwellers, we're back.
30:11
All right. OK, Very interesting.
30:14
OK. How about how about the economy?
30:17
This is this is absolute. I mean, the hits just keep
30:21
coming for the US economy. This came from the new American.
30:27
3/4 of Americans surveyed can't pay their bills, 75%.
30:34
There's a retired couple, right? Looking with the look of disdain
30:38
and despair on their face, looking at their bills.
30:40
How are we going to pay this? You know what, what is going on?
30:44
LendingTree, the online lending marketplace, asked 2002 thousand
30:48
American consumers in September how they're doing. 76% of them
30:55
said that bite inflation has made it more difficult than ever
30:59
to pay their bills. Half of them said they have had
31:05
to pay certain bills late in the last 12 months.
31:08
That includes essentials like utility bills, mortgage
31:11
payments, and cable or Internet bills.
31:14
When pressed for the reason why, more than half of them answered
31:18
I didn't have enough money to pay the bill.
31:21
We know from what we talked about yesterday, guys that like,
31:26
I was shocked for those of you that weren't with us on
31:28
yesterday, yesterday's live stream, the number of the
31:31
percentages of people, we looked at a, of the, OR a map of the
31:36
entire United States and it broke down by state, the
31:39
percentage of people that don't have homeowners insurance.
31:42
And if you don't have homeowners insurance, you're not alone, OK?
31:45
Because I think in Florida it was almost 20% W Virginia 23%.
31:51
Most states, it was at minimum like 10%.
31:54
One in 10 people can't afford homeowners insurance.
31:58
Car insurance has skyrocketed. You know what health, health the
32:02
United States is a joke. I'm sorry.
32:04
You know, the health insurance, the health system here, try to
32:08
go to the doctor, try to, it's like a, it's the biggest joke.
32:11
It's the laughingstock of the world, our healthcare system.
32:14
I mean, I, I digress anyway. OK, so basically, that's what
32:21
we're dealing with here in the United States.
32:23
Congratulations. If you're having a hard time
32:25
paying your bills, well, you're not.
32:32
Yo, now we're back. Basement dwellers.
32:37
Yes, thank you. OK, let's look again.
32:42
Let's look at something that should make us happy.
32:44
Let's look at a couple quick videos of what is going on in
32:48
our world and something that I think is quite incredible.
32:52
Look at that. Look at that rocket.
32:54
OK, I'm not, I'm not. I don't follow it closely, but I
32:58
think that's the rocket that blasted off just a few days ago.
33:02
Isn't that just absolutely stunning?
33:05
OK, that's SpaceX. Look at that thing.
33:08
Now look at this. Watch this.
33:12
I think you're going to have. That's when it came.
33:18
We can do great things. OK.
33:20
And my question is, is just this OK If we can do this, And I said
33:24
this yesterday and I I'm very perplexed by this.
33:27
I don't know if if this puzzles you as well.
33:30
If we can do that as a country, OK, Why the heck can't we count
33:36
200 million votes accurately that are coming that we're going
33:39
to be dealing with here in in just what, two or three weeks
33:43
and could create a massive insane storm of hold on, make
33:48
sure we don't have, OK, We don't create a massive storm of social
33:52
instability potentially. I don't want it to happen.
33:54
I'm not saying anything it's going to happen.
33:56
But there's all this contention. How can we do that with rockets
34:00
50 years and not count 200 million votes accurately?
34:04
Somebody fathom whatever. It doesn't make sense.
34:07
It's absolutely insane. It does not make sense.
34:11
OK, we do know that our friends in Germany love their gold,
34:18
right? Remember, this is so critical
34:20
when it comes to silver, when it comes to gold, period.
34:26
In this world right now, they are the world's most universe.
34:30
We are in good hands, basement dwellers.
34:33
We are in good company. You got a lot of friends.
34:36
Doesn't that feel good to have a lot of friends?
34:38
It does feel good to have a lot of friends and I'm going to
34:40
explain to you why in just one second.
34:41
But first, I do want to say thank you to Channel Spencer
34:44
First mining gold, Canadian gold developer with two multi million
34:47
ounce projects in Canada. They got gold in the ground in
34:50
Canada. You can learn more about them at
34:52
firstmininggold.com. Fortuna Mining, an active silver
34:57
and gold mining company. They're mining silver and gold
35:00
in Latin America and a lot of gold in West Africa.
35:04
You can learn more about them at Fortuna mining.com.
35:07
See, gold is everywhere. It's in Canada, it's in West
35:10
Africa, it's in South America. What about silver?
35:14
Wow, it's everywhere as well. These are massive, huge markets.
35:21
I know you feel. Do you ever feel like an
35:23
outcast? Like a lone wolf?
35:26
If you're in America like me, I'm in Saint Louis, right?
35:29
Home of the world's biggest silver arch.
35:33
We are the outcast. We are.
35:36
We are sometimes looked at with disdain, right?
35:38
Sometimes even called clowns. All right, I, I, I'm not you,
35:42
me. They call me a clown because I'm
35:44
a silver pumper. Hey, I'm, I'm the happy silver
35:47
pumping clown because I know we're silver.
35:50
I know that I'm going to see $700.00 silver during my
35:53
lifetime. Nonetheless, it's all around the
35:56
world, baby. Why do Germans think about this?
35:59
Why would it be? Why would it be a great lesson
36:03
for us to realize why Germans love?
36:08
Did you know that they'd love, I mean, Germans love gold and
36:12
silver, but what's the lesson that us right as maybe American
36:18
or Canadian gold and silver investors?
36:21
What can we learn from the Germans?
36:24
Let's go take a quick look if I can find the article.
36:30
What did I do with it? Oh no, that's not it.
36:33
Here we go. This one came from the Jerusalem
36:35
Post. It's been covered on many sides.
36:37
Gold. This is crazy gold.
36:40
Germany's a huge economy too by the way, and gold is the third
36:45
most popular investment in Germany.
36:50
The World Gold Council analyst suggests that the European
36:53
countries recent gold mine slump can be attributed to 1 fact.
36:59
Most people already own it. Wait till you get a hold of
37:02
this. Oh, I hope you're looking at one
37:04
of those. Isn't that pretty?
37:06
I love silver, I love gold. In 2022, Germany was the second
37:11
largest market for retail gold investment.
37:13
It boasted 185 tons net bar coin demand, but that number slumped
37:19
to 47 tons in 2023. OK, now.
37:23
But this isn't to say Germany has lost its gold buying waves,
37:26
according to a recent report from the World Gold Council.
37:29
What's the lesson in this? We're going to get to that one
37:32
Second, Germans are not falling out of love with gold.
37:35
OK, is what the is what the the truth and the results.
37:39
More than 1/3 of Germans at some point have invested in gold, and
37:46
28% of them still do, making it the third most commonly owned
37:52
investment after savings accounts and stocks.
37:55
Look at this guy's, see if I can get this to pull up, OK.
38:00
Over 1/3 of German investors have at some point invested in
38:04
gold. Look at that.
38:06
Savings accounts, stocks and shares.
38:08
There's gold. OK, now what's the lesson in
38:13
this? Why?
38:14
That's the, that's what we want to know.
38:16
Why do you think? I'll tell you why Germans
38:19
invested in gold. 2 reasons they've been through two things
38:23
that they know, that they know can happen, that maybe in
38:27
America we don't #1 they've been through a horrible war.
38:30
The uncertainty that goes along with that.
38:32
Also, ever heard of the Weimar Republic, Weimar situation?
38:37
They've been through massive critical levels of
38:42
hyperinflation of currency devaluation.
38:47
So it's, it's embedded in the German psyche, right?
38:51
In America, we have recency bias.
38:53
All we know most of us are who are alive at this point, right?
38:57
If you were born 1940 or after, all you know is America rules
39:01
the world stability, the dollar, right?
39:03
No, that's all. It's called recency bias.
39:06
The Germans, they still have it. Their grandparents, their
39:09
parents, explain to them what can happen during times of mass
39:14
uncertainty. So that's why the Germans, 30%
39:19
of them, invest in gold. 30%, three out of 10.
39:23
What is it in the United States? One in 100, maybe with gold and
39:28
with silver as well. And the Germans also love their
39:32
silver. No absolute, no doubt about it.
39:36
Let's run out and do a quick update on the silver and gold
39:39
price. I can't believe where we are
39:43
right now. Let's see if silver's still
39:45
green. Oh boy, gold went green.
39:49
Hey, maybe we should stay on this live stream, basement
39:51
dwellers, for a little bit longer.
39:52
We got to do it. We got to do it.
39:54
Let's go out to the US debt clock just to make sure that
39:59
things have not changed. Here we are.
40:02
We're zipping out there. Oh, big day 35.
40:06
We did it, guys. Congratulations, Americans.
40:10
We, we are now at 35 trillion, $700 billion.
40:14
That must have happened sometime during the evening.
40:17
Let me remind you, OK, it was just it, it was just like 30-5
40:23
trillion, 300 billion a week ago.
40:26
So it's a $400 billion. Let's, let's go here, let's go
40:33
here and see how much that is just in the last few weeks has
40:36
been added to your and your children and grandchildren to
40:40
every 400 billion divided, divided by three, oops, 330
40:51
million. That's how many Americans are.
40:53
This will tell you just in like the last month, we'll be
40:56
conservative. You've had lopped onto you,
41:00
you've had, you've had stolen from you, you've had indebted,
41:03
you're how much more indebted? Just this is just in the last
41:06
month or so, only $1200, $1200. Guys, your government has handed
41:18
you a $1200 bill, a bill that you owe that every American if
41:24
they handed it to your little grandchildren, right?
41:27
That little that the cute little girl, her guess what?
41:31
Not her. That's the clown.
41:33
That's the Comex clown to her. She got handed.
41:37
Hey, congratulations. I'm going to call her Misses
41:39
Miss A, you owe $1200 extra. OK, but that's not even the
41:45
worst of it, because when we look at debt per citizen, hey,
41:49
congratulations, Americans, you now owe over $100,000 per
41:54
person. There's somebody out there.
41:56
This is real. OK, look at that #105,000.
42:02
I want to reiterate this to you. There is someone out there in
42:06
the world if you're an American citizen, and if you're a
42:09
Canadian, you can do your own numbers.
42:11
I'm sorry, I don't know if there's a Canadian debt clock.
42:13
Maybe there is. Anyway, if you're an American,
42:16
that's me, OK, There's somebody out there that thinks, doesn't
42:20
think, demands that you owe them $105,000.
42:26
Let that sink in, OK. And just in the last four weeks,
42:31
there's somebody out there just in the last four weeks that
42:35
thinks you owe them an extra. What was it, 1200 dollars?
42:38
It's sickening. It's sickening, right?
42:41
And I, I saw something the other day.
42:42
It's like I don't want to get to go down this road, but it's like
42:46
we're funding all these wars all over the world, but we can't
42:50
even really take care of our own people and our own country.
42:53
I digress. I'm not going to go down that
42:55
path, but let's go look at this real quick just because just
43:00
because you never know, maybe maybe there was some massive
43:03
change in Washington. Just go check the the dollar to
43:07
silver ratio. Oh, now it's up to 717.
43:14
What a joke. Let's go down here since we're
43:18
here, paper to silver ratio is now at 408.
43:23
OK, that's crazy. The paper to silver ratio.
43:27
I'm just curious. Let's see if we can get a OK,
43:31
let's say what is the paper to silver ratio?
43:40
OK, here, here we go. The paper to silver ratio is the
43:44
number of paper claims for every ounce of physical silver.
43:49
A high ratio indicates that the market is heavily leveraged with
43:53
more paper contracts than physical silver.
43:55
This can lead to price discrepancies and potential
43:58
market disruptions. Silver squeezes and if there's a
44:04
sudden demand for physical silver, for example.
44:07
Now let's just read this real quickly.
44:08
A paper to silver ratio of 400 means there are 300.
44:13
And well, it's actually what did we say here?
44:15
4 Where is it? Four O 8 right there.
44:21
There are 408 paper claims for every ounce of physical silver.
44:27
All right, anyway, that's the world we're living in.
44:30
Was there anything else we needed to look at?
44:32
This just makes me sick. US homeless, 619,000 people, my
44:37
Lord, just ridiculous. Well, you know, since we're here
44:40
basement dwellers, let's just do a quick a quick review of why we
44:46
are. So what's the word I'm looking
44:49
for? I want to use.
44:50
I don't know. It's a family friendly show.
44:51
We're in such trouble. OK, now that we've had 35
44:55
trillion, 700 billion, remember there are people out there that
44:59
that are going to demand that we pay our bills that is making
45:04
this the interest, which is that's going to be a big day
45:07
when we act officially get to a trillion that that higher debt
45:11
makes the interest expense, which is almost a trillion
45:14
dollars per year skyrocket. That makes this the US federal
45:19
budget deficit continued to skyrocket, but guess you're
45:22
right. Guess where all that money gets
45:25
added? That goes into the national
45:26
debt, which makes that skyrocket, that go higher and
45:29
higher, which makes the interest go higher and higher, which
45:32
makes this. That is called a, a doom
45:35
Whirlpool of, of debt and debt spiral and nobody's talking
45:41
about it. You know what it is, guys?
45:43
You know who knows? You know what it is?
45:46
Who knows? Look over my left shoulder,
45:49
right? I'm not talking about the self
45:51
waving American flag, which I've paid a lot of money for, right?
45:54
I love this country. I love Thomas Jefferson, I love
45:58
Hamilton. All right?
46:00
I love Benjamin Franklin. I love Andrew Jackson, right?
46:03
No, no, See that up there? You know what it is?
46:07
That's the American flag. That's the elephant in the room
46:11
that nobody's talking about. That's why we're going to have
46:15
inflation, which is going to make your toes curl.
46:22
It's called basic mathematics. Like they made a study in grade
46:25
school. Yes.
46:27
OK. And nobody's wants to talk about
46:30
it. Nobody, Nobody, nobody.
46:32
No, no, no, no politician wants to even recognize, thank God,
46:39
that we have people like you, people like me, people like, oh,
46:44
I don't know, Jamie Dimon. No, I'm not.
46:47
Thank God for him. But the one little part of him
46:50
that points out that we are in big, big, major trouble when it
46:53
comes to the US national debt, people like Ray Dalio, right?
46:58
People like Jeffrey Gunlock, people that are have the courage
47:04
to speak out and say, you know, this destruction of our monetary
47:09
system is not a good thing. We don't like it.
47:12
And neither did our founding fathers, neither did Woodrow
47:16
Wilson. You know who Woodrow Wilson was?
47:19
He's the one that signed the United States Federal Reserve
47:22
into oh, I got something new to show you, thanks to our friend
47:26
Don Indris. We love Don.
47:28
I got something new to show you. Woodrow Wilson was the president
47:34
who signed the Federal Reserve. He created the Federal Reserve.
47:37
He fell for it hook, line and sinker.
47:41
Guess what? Two years after Woodrow Wilson,
47:46
right sign the the legislation to create the Federal Reserve,
47:49
you know what he said, right? He said, I'm the most depressed,
47:53
sad man in the world because what I did is going to act to
47:58
destroy my country. I've handed over right, the
48:02
future of my country to bankers and it's not a good thing.
48:07
Look it up. He said it OK, That's the truth.
48:10
And that it is that not what has happened, right?
48:13
What what is what is happened when they when they put the
48:16
final nail, right, temporarily in 1971, right?
48:21
It has been, I mean, the dollars lost 99% of its value compared
48:26
to gold. Think about that for a second.
48:29
And now they just print, print, print, print, print, right?
48:32
It's paper. It's paper.
48:35
This is paper. OK, look, I got to show you
48:38
Jerome. Jerome's got a new trick.
48:40
Thanks to our friend Don. Remember.
48:43
Remember who's in here? He's in a box now.
48:46
The hens have come home to roost.
48:48
We got a recession, Jerome Powell, and we have inflation.
48:52
But guess what? There's Jerome.
48:55
OK, Here he is. Hi, everybody.
48:58
You know what? And this is all he can do.
49:02
This is it. This is a fresh roll of $100
49:06
toilet paper. That's all they can do from now
49:10
on, right is roll it out, baby. Unfortunately, this won't fit in
49:17
here like, oh, maybe it will not really.
49:20
I need to expand the boxes. I wanted to be able to pull it
49:22
out. But none the less, thank you,
49:24
Don Indris, right. When a great friend of the
49:27
channel. And and that's what they're
49:29
going to do. They're going to print money.
49:33
Sorry, Charlie. Right.
49:35
They're going to print money, and the value of the dollar will
49:38
continue to go. I need a toilet.
49:41
Go down the toilet. Unfortunately, I mean, our
49:44
founding fathers are rolling over in their graves.
49:47
That's a fact. OK.
49:49
It's going to be an interesting week.
49:50
It's been an interesting morning.
49:52
Thank you for being here. Thank you for your support.
49:54
OK, Thank you for the Super chats, the PayPal donations,
49:58
most importantly #1 the number one thing, thanks for being part
50:03
of the basement. Thank you to the moderators.
50:04
I saw Big Tim the Silvershire was on here with us this
50:07
morning. Good to see you Big Tim.
50:09
Jake from Jake's custom parts of the one and only Annie Oakley.
50:11
I don't think Susie was here, but Susie's always dealing with
50:14
me. We thank Susie for putting up
50:16
with with me and for helping with the channel.
50:19
But most importantly, you OK, You are part of this OK.
50:25
I hope you feel like you found a little home away from home where
50:28
you can hang out with some great, nice people.
50:30
Subscribe to the channel, you know, participate in the chat.
50:35
Some wonderful people, some wonderful friendships have been
50:38
forged in that comment section. And to me, that's, you know,
50:42
probably one of the most rewarding parts of this all.
50:44
Have a great day, be nice to yourself.
50:47
I will plan on seeing you soon.