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**SILVER PRICE** You Better LISTEN UP -- (BIG Changes and GOLD Price too · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
$100 silver, we're going to talk about that.
0:06
Is it possible? How soon could we see $100
0:10
silver? You want to know?
0:12
I'm going to give you my answer a little bit later in this
0:15
video, but what is going on with China silver, Gold and Janet
0:21
Yellen? We got some crazy news regarding
0:24
Janet Yellen's most recent trip to China.
0:27
And I think it has everything to do with the silver price and
0:32
with the unbelievable demand on a wholesale industrial level
0:37
that we're seeing for silver right now and that will play a
0:41
big part in the future silver price.
0:44
The real value. We talked about that.
0:46
Basement dwellers. Real value.
0:49
Not nominal value, not Unicorn bark, dust, paper, Fiat,
0:53
whatever you want to call it. Value.
0:55
We're interested in real value and we're going to get to the
0:58
bottom of it. And what's scary, scary, scary
1:03
things is Jamie Dimon, the CEO of JP Morgan Chase, the biggest,
1:08
you know, investment bank in the world.
1:10
What is he saying that should have us all shaking in our
1:14
boots? Is he giving us a dose of
1:16
reality? And what will that have to do
1:18
with the price of silver and gold?
1:20
But first, let's talk. I know you're all upset.
1:23
I understand. I'm not real happy about it
1:26
either. Right.
1:26
Gold and silver once again shot up this morning only to be
1:32
pulled back, back back. Let's run out the pin backs real
1:35
quick and get a an up to date price quote on what is going on
1:41
in the silver and gold markets. Here's our friends at pin backs.
1:45
OK, so gold 2340. Now you stay with me here,
1:49
basement dwellers, because we're going to have a little dose of
1:51
reality and we have silver at 27.
1:55
Yes, I said $27.69. We'll round that up to 2770.
2:02
Hey look guys, this happens all the time.
2:04
Have you noticed this lately? Does it make you a little
2:07
suspicious? But possibly suspicious in a
2:10
more happy way? If you noticed over especially
2:14
the last three or four weeks, this is happening with the gold
2:18
price and even more recently with the silver price where it
2:21
shoots up either overnight in China or early in the morning in
2:25
the US Then it pulls back almost like we're seeing today, almost
2:30
to even silver often times will be down 10 or 15 cents, only
2:36
then to get stronger in the subsequent hours.
2:39
That's a very, very bullish, very good sign for the silver
2:44
and gold price because what we're doing, what we're doing
2:47
guys, is we are stair stepping higher, OK, little by little by
2:53
little by little. The price keeps going up and
2:56
getting stronger and stronger. And do you think that we'll see
2:59
$100 silver? I do think we will see it.
3:03
I know you can. I know Mike, some of you will
3:05
will bash me for saying it $100 silver.
3:10
It's OK for Keith Newmeyer from First Majestic to say it, but I
3:14
firmly believe that we will see it in the coming years.
3:18
And when I say coming years, I'm thinking 234, maybe five years.
3:22
But it's coming and we're going to be ready for it and we're
3:26
going to be able to look back and say everyone, everyone else
3:30
will be in shock, right? We'll look back and say no, we
3:35
saw it coming. We put the pieces together.
3:38
OK, What's so crazy? What?
3:40
What? I'm going to ask you, what do
3:42
you think is so crazy about this big rally that we've had in gold
3:47
and silver? Guys, again, gold's at $2340.
3:51
If it's going to be smashed, take a deep breath.
3:54
Think about this. If we if we had been talking
3:57
about this 8-9 months ago and I told you that on what is today,
4:01
April 9th, 2024, the gold price was going to get smashed.
4:06
It was going to get bashed down by 20 or $30 per oz from its
4:11
morning all time high, but then I told you that it was going to
4:14
get bashed down to $2340. Same thing with silver.
4:20
When we were sitting with 2324, what, $22.00?
4:24
Silver at one point, and I told you the silver price was going
4:28
to get bashed by almost $1.00 in a couple hours, but it was gonna
4:33
get bashed down to $27.70. You'd be happy.
4:39
So let's keep things in perspective.
4:41
We are still in a definite uptrending market for the
4:46
metals. Are you do you believe, do you
4:48
believe? I believe.
4:50
I'm a believer. I'm gonna type it in the
4:52
comments. We haven't done this for a
4:54
while. If you're a believer.
4:55
And I'll tell you what, don't type it yet.
4:57
Well, you can. I can't control what you do,
5:00
Believer. I think I spelled that right.
5:03
Susie's not here right now to correct me, but do you believe
5:07
that we could be in a long term bull market for the silver price
5:11
and gold price? I believe we can.
5:13
I showed you a chart yesterday. Let's just go look at it real
5:16
quick. Hold on.
5:19
That's not it. That's not it.
5:21
There now that's gold versus the mining stocks.
5:24
There we go. Take a look at this guys.
5:27
OK. One last time, excuse me, we're
5:31
going to take a look at this chart, the yellow, the big
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yellow points and this goes back to 1970.
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Those are bull markets in the gold part, in the gold market
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where gold goes, silver will follow.
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Look at some of these periods of time that lasted 101256 years,
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OK. Of granted that big major
5:53
section from what about 1980. We did have a 20 year bear
5:57
market. But hey, we are now on the far
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right, that little blue section that shows us what's going on
6:04
right now. Look how small that is compared
6:06
to the other bull markets. We have to be realistic here.
6:10
We have to have to realize we can have a long term bull
6:15
market. Thank you Don Howe that for the
6:17
Super chat. Thank you, Clifton, for the
6:19
Super Chat. And if I miss any super chats, I
6:21
apologize. Like I said, I'm doing this
6:23
completely solo. I I even hope you guys can see
6:27
me and hear me right 'cause it's a big deal that you real
6:30
quickly. We're going to talk about #1.
6:33
You are here, OK. You are the most important part
6:36
of Ron's basement. It's a big honor to me when you
6:38
join me and us, right. We're the group.
6:41
We're the basement dwellers. So thank you for being here.
6:44
Thank you for your support. You know, you can subscribe.
6:47
You know, you can give it a thumbs up.
6:49
All of that is greatly appreciated.
6:51
They are starting, what do you think when you hear now
6:55
everybody's talking about it. They're starting to talk about
6:58
gold, not silver yet, but we'll talk about why that's good for
7:02
silver. But they're starting to talk
7:03
about gold on the mainstream media.
7:06
Yes, CNBC, Bloomberg, Reuters. We're seeing more and more
7:11
articles and people are starting to point this out.
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I'm getting more and more people asking me about gold and silver.
7:18
Are you starting to notice friends and family that know
7:22
that you, let's say, have a certain affinity toward the
7:25
precious metals? Are they starting to ask you
7:28
about the metals? That's good.
7:30
And that's just the beginning. Thank you Ron McAdams for the
7:33
Super Chat. It's just starting.
7:36
That's the big key, critical thing to remember.
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OK, we're just starting to see gold get some attention now that
7:45
it's at all time highs. If anything else was at an all
7:47
time high, it's all they would talk about, right?
7:49
Apple stock, NVIDIA, whatever. But now that gold is getting
7:53
near all time highs, the mainstream media is starting
7:56
just starting to pick up on it. On a scale of one to 100, I'd
8:00
maybe give it a 15. In terms of their coverage of
8:04
silver, what would you give it? I would say on a scale of one to
8:07
100, the mainstream media maybe give silver A2 or a three.
8:12
They like never talk about silver.
8:14
But the important thing for us to remember is that provides us
8:19
with a long runway, imagine right along a big area of
8:25
improvement and when it improves, it's going to be waves
8:29
and waves of money coming into the market.
8:31
Let's take a look at this slide. I thought this was very
8:34
interesting and I think you will too.
8:37
That's why I've decided to share it with you.
8:40
Here we go. This is from Lawrence McDonald,
8:45
and he talks about market capitalization.
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I didn't realize this. The total gold market
8:50
capitalization, guys, is $16 trillion.
8:53
Gold is the godfather of all the precious metals.
8:58
Gold is the godfather of the monetary system.
9:02
Gold is the base of everything. So is silver.
9:05
But let's go down the line. Microsoft 3 trillion Crypto
9:09
almost 3 trillion Apple 2.6. NVIDIA Saudi Aramco.
9:13
That was the biggest company in the world at one point.
9:16
That's the Saudi oil company 2 trillion Amazon two.
9:19
Google 2 silver silver $1.6 trillion total market cap.
9:28
I guess that's measuring all the silver throughout the entire
9:32
world. But isn't it interesting that
9:36
the market cap of silver is only 10% that of gold?
9:41
And we know right? We know when silver moves,
9:45
right, it's slingshot move and silver that it can move like
9:49
absolute crazy. So right now we're in this weird
9:52
situation, right? Work with gold.
9:56
We are at all time highs, pushing up against all time
9:59
highs. Almost no resistance.
10:01
That means gold can move higher and higher and higher.
10:04
But what about silver? What about that $100 silver you
10:08
were talking about, Ron? Well, we're nearing this $28.00
10:13
level. This explains to us why we're
10:15
seeing such a battle at this $28.00 level for silver.
10:20
Silver needs to push through 28 and I'm gonna explain to you
10:24
why. But also remember that's why the
10:28
powers that be just possibly right.
10:31
I have no proof but there's a big battle a big appears to be
10:37
concerted effort to keep Silver below $28.00.
10:41
Because I've held and many of the top analysts have held, and
10:45
this is interesting, that the essential, let's say, all time
10:52
high for silver is in that 28 to $30 range.
10:56
Yes, sure, silver spiked up to $50 a couple times, very, very,
11:01
very short periods of time. Essentially, for all intents and
11:06
purposes, what we're looking at with silver as a level where
11:10
there will be very little limited overhead resistance,
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excuse me, I had to clear my throat.
11:20
Little, very little overhead resistance will be above that 28
11:24
to $30 range. So that explains, Does that make
11:27
sense to you? Why the powers that be?
11:29
Maybe a couple of the big investment banks, maybe?
11:33
I'm just saying, maybe some other organization, maybe big
11:38
industrial interest, who knows, right?
11:40
But there seems to be a lot of downward pressure placed on
11:44
silver right now. Anytime it gets above $28.00,
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guys, when it gets above 30, OK, it is.
11:51
It's clear sailing. There's very little overhead
11:55
resistance above it. And when you couple that with
11:58
what is just, I mean the most interesting, the most
12:02
confounding fundamental factors supporting any commodity,
12:07
anything in the world. How many people have you heard
12:10
say silver is the most undervalued asset in the world?
12:13
I hear it almost every single day.
12:16
And not from just random people. I'm talking about the smartest,
12:20
the most successful people in the investment community.
12:23
And then everybody says Silver has a lot of catching up to do.
12:27
That catching up will be in the form of a run from above 30 up
12:32
to as high as $100 per oz. How long will it take?
12:35
It's not going to happen. It could happen very quickly,
12:38
absolutely. But I would say on average I'm
12:41
looking at about three years out where I can clearly see that we
12:46
could be at $100. Silver look, that's my opinion.
12:50
You're entitled to your own opinion.
12:52
Don't make any financial decisions based upon anything
12:55
that I say. But to me, it's very, very clear
12:59
that we're seeing a confluence of positive factors that
13:02
absolutely could push the silver price to levels that don't seem
13:07
real. Does it not seem real to you
13:09
that we could see? I can see it now.
13:12
OK. And you know what, at the end of
13:14
the day, it does it matter. Yeah, sure.
13:17
Measured in Fiat dollars that we get to $100 silver.
13:21
But I can clearly see, look at what's happened to Coco, look at
13:25
what's happened to oil, right. Look at, I mean oil was negative
13:28
a few years ago. At one point oil was 2030, right
13:32
now it's what, $85 a barrel? I haven't checked today.
13:35
So it it will happen for silver and it could happen even more.
13:39
To be honest with you, I think that we could see 150, a $140.00
13:45
silver at some point. It'll be interesting as we see
13:48
how that. But when do we sell?
13:50
Right. When do we sell?
13:52
When do we sell our gold? I'm hearing some people say it
13:54
might be a good time to sell some of your gold.
13:56
It might be a good time to sell some of your silver.
13:58
Look, everybody has their own opinion.
14:01
Everybody has their own strategy for that.
14:04
But here's one thing that I thought of that I think is sad
14:08
and funny at the same time. And I wrote this out for you
14:12
basement dwellers and thank you basement dwellers.
14:14
You know when you're here in the basement, right?
14:17
Not just with me, but with we're basement dwellers.
14:20
We love our silver. We love our gold.
14:22
So thank you for being here. Sell.
14:24
When I wrote this for you, even highlighted it.
14:28
It's a good idea to sell if the government starts to get
14:32
responsible. We keep things simple.
14:34
Thank you, Silver Surfer. Hey, that's awesome.
14:37
Thank you for the Super chat. Hey, that's the time to sell if
14:41
the government starts to get responsible, because that's the
14:44
bottom line. The government's not
14:46
responsible. We are in a debt fiscal monetary
14:51
doom loop, right? You want to talk about GDP?
14:55
The GDP to the debt rate or debt to GDP, whatever it is, right?
14:59
No, it's 120%. No country except England, I
15:03
think has ever recovered from having a debt to GDP ratio of
15:07
over 120%, right in the darn British.
15:11
They're the trickiest financial people on the earth.
15:13
No offense to the British, but they're the trickiest.
15:16
They invented monetary mirage, all that crazy stuff.
15:20
They're the only ones. But you know what?
15:21
The gold price. If you look at the gold compared
15:24
to the pound, what they had to do to get out of that, it
15:28
exploded. I'm sure it's because they just
15:30
monetized everything, right? Silver and gold.
15:33
I'm sorry. I'm sorry I have to tell you
15:36
this, but measured in, in where is it measured in these?
15:43
Right. It's only going to go up and up.
15:46
And I'm going to be quick when I preach this to you.
15:48
OK? Right.
15:50
We don't really want to care what gold and silver are
15:52
measured in these. We don't care.
15:55
We want to care about our oz. You know that whole of your
15:57
basement dweller. You know that, right?
15:59
We need to reprogram you. We need to be reprogrammed.
16:02
We need to realize. Did you realize how important
16:05
this is? It doesn't matter what does it
16:08
matter what gold is priced at in Confederate dollars or in the
16:11
Deutsche marks that they had or whatever they were using during
16:14
the Weimar situation or in or in Argentine.
16:18
Here, you want to see? I'm going to.
16:19
I'm going to show you why. I'm going to show you something
16:22
very interesting. Hold on here.
16:24
I'm going to try to smile when we do this.
16:30
Hold on. We're almost there.
16:32
We're there. We're there.
16:35
That's why it doesn't matter. That's why it doesn't matter
16:40
what we measure it in any Fiat currency.
16:43
Because this is Argentina and I don't even know what the price
16:46
is right now, but on November 25th of 2013 in Argentina, the
16:52
price of silver was 122 pesos pesos.
16:56
So do I have that right? Argentine at Well, anyway.
17:00
Yeah, Argentine pesos. OK, by let's see here. 8700
17:07
pesos. Argentine pesos.
17:09
On the same date. What?
17:12
What is that 10 years later? Only a 7000% increase.
17:17
Only at 7000%. Now let's go out.
17:19
Let's do something fun here, because that was as of November
17:26
25th, 2023, Remember? Started out at 122 pesos.
17:33
Let's go take a look right now at what the silver price is in
17:39
Argentine pesos. Hey, guys, wait a minute.
17:42
Where am I? All right, there's Pinbex.
17:45
Hey, come on, silver. You can do it.
17:47
Let's do a quick update. Let's do a quick update.
17:50
And whoa, look at that. Hey, it came back already.
17:54
But longer we stay. Live gold up $8.
17:57
Now silver only down to cents. Let's go over here and let's say
18:02
Silver prize in see how fast I can type.
18:07
Thank you Mr. DC Wilcutt at CBC High School for slapping my
18:11
hands and making me learn how to type on a manual typewriter.
18:14
Greatest guy. One of the most successful high
18:16
school basketball coaches in the history of the world.
18:18
He was also a typing teacher at my high school.
18:21
I think it's a critical skill to teach young people how to type.
18:25
You didn't ask about that. And Argentina.
18:28
Let's see if that brings it up. OK.
18:33
So as of April 7th, 2024, one ounce of silver is worth only
18:38
23,653. All right.
18:42
OK, let's go. Let's go back to this and take a
18:49
one more quick look. OK, well, it only went up.
18:54
Let's see, it was 8700 on November 25th of 2023.
18:58
So in five months now it's almost tripled again, OK, off of
19:02
off of that subject. That's why.
19:05
That's why the price of silver could go to 6000 U.S. dollars,
19:10
12,000 U.S. dollars. Guys, here's the key.
19:13
Argentina is no different than the United States.
19:17
There's this thing in our Have you heard of this concept called
19:20
math? Right.
19:21
Yeah. Addition, subtraction,
19:23
multiplication, division. The basics.
19:25
The real basics. Sure, you have.
19:27
Those laws apply in Argentina, and they printed too much money.
19:32
They were fiscally and monetarily irresponsible.
19:37
Guess what? Guess what?
19:39
Even though we're a lot bigger and a lot more powerful, those
19:42
same laws of mathematics apply to the United States.
19:45
Sorry. And guess what?
19:47
More than half of the world, The BRICS.
19:49
Brazil, Russia, India, China, South Africa, Iran.
19:54
Oh, I'm forgetting Iran. What's the S?
19:57
OK, Egypt, Ethiopia and the United Arab Emirates.
20:00
I forgot the one that started with SI used to be the guy.
20:02
Well, that's nine of the 10. And there's, like, 30 other
20:05
countries they're calling. They're they're, they're they're
20:08
telling the United States your credit card has met its limit.
20:12
Sorry, Janet Yellen. Sorry, Joe Biden.
20:16
Sorry, Americans, your credit card is over the limit.
20:19
You can't spend any more. We're not giving you our
20:22
resources. We're not giving you.
20:25
So we are in for a potential. Don't want to be the town crier.
20:29
What's that guy? Johnny Little.
20:31
Whatever, right? The sky is falling.
20:34
But boy oh, boy, It's not looking real, real good.
20:37
OK, I'm sorry. They're waking up, OK?
20:39
Eventually. There's no choice.
20:41
This is the bottom line. Debt monetization in the United
20:45
States. That's why interest rates will
20:48
stay high. Don't believe this whole
20:50
interest rates have to go down for gold and silver.
20:53
No, everybody we talked about this for a month, months and
20:56
months. Now everybody's talking about
20:58
it. The fact that interest rates
21:00
don't have to go down, Interest rates won't likely be going
21:03
down. I could be wrong.
21:05
I'm always happy to admit when I'm wrong, but if they don't
21:07
have to go down for the gold and silver price to go up, people
21:11
just need to wake up at the real value of the dollar is going
21:15
into the toilet. And when your neighbor who's
21:19
more obsessed with, I don't know, whatever, you know,
21:22
anything but silver and gold because there's hardly anybody's
21:26
like us when they start to wake up, be prepared.
21:29
Precious metals are. We're in this crazy environment,
21:33
crazy new environment right now, OK.
21:37
I heard Jorge Genoza, CEO of Fortuna Silver, talking about
21:44
this in a recent interview with Chris Marcus from Arcadia
21:46
Economics. He's like, but what?
21:48
You know what, Why did that? When the good employment numbers
21:51
came out last week, the price of gold and silver went up.
21:55
That's that. We're in a new paradigm, right?
21:57
He was asking Peter Sveena and Dave Kranzler and Chris Marcus
22:01
about this. And what I think is that we are
22:05
in a new paradigm, right? Things have changed and that's
22:08
proof. Things that should have killed
22:10
gold and silver are sniffing out are calling BSI know no other
22:15
way to say it. I don't know if the term is I
22:17
don't know. I always say everything wrong
22:19
and I get in trouble with Susie calling monkey.
22:21
Is that an inappropriate thing to say?
22:23
I hope I didn't get in trouble saying that calling BS on the
22:26
whole system. The bottom line is the real
22:29
value of the dollar. Precious metals, silver, gold
22:33
calling BS on this rate cut argument, right.
22:37
Precious metals calling BS on the BLSI?
22:40
Love it. Calling BS on the BLS, the
22:46
Bureau of Labor and Statistics like it is.
22:50
Some people I heard on Wall Street called the Bureau of Lies
22:54
and Statistics. I'm not calling it that, but
22:56
never say anything disrespectful about our fine government
22:59
organizations. But none the less silver and
23:02
gold. They're calling BS on the BLS.
23:05
OK, tomorrow, big news. Oh my gosh, Are you ready?
23:09
Tomorrow we get the CPI report or what?
23:13
Some people, not me. I'm just telling you what other
23:16
some people call it, not the CPI but the CP lie because they
23:21
don't believe. Can you believe that they don't
23:23
believe the data that comes from our government about inflation,
23:26
right? That we got 3% inflation right
23:29
now. What a joke.
23:31
It'll be interesting. Tomorrow's going to be a
23:33
critical day. Well, I'm going to warn you.
23:35
Warning. I need to get up.
23:38
Where'd it go? Here.
23:40
My daughter, Evelyn. Oh, hey.
23:51
Warning. Thank you, Evelyn, for letting
23:53
me use your 10 year old Halloween costume is a prop
23:58
warning. Tomorrow warning.
24:00
OK, it could be a big, big move day in the price of silver and
24:05
gold. All right, the CPI comes out and
24:08
oh boy, you know, but it's going to be super interesting.
24:12
The number one see what they report, which is always
24:16
interesting, but #2 how silver and gold react, Guys, we are in
24:20
a new we are in a new weather. Can you accept it?
24:24
I I'm. I'm working on it.
24:26
Right. Acceptance takes a little while.
24:28
It's not a switch. We're in a new we could be in a
24:31
major bull market for. We've got silver at $27.00.
24:35
Let's go out to Pinbex. Hold on, hold on.
24:37
Wait. I got.
24:38
We got the funnest part of the show besides getting to see you.
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OK. Silver, right.
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Only down to cents. Gold only down are up $8 per oz.
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That's awesome. Let's say thank you to channel
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sponsor Pinbex. If you decide that you want to
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buy some silver, gold, or platinum and you're going to
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shop online. Absolutely.
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Please. OK, Susie's yelling at me.
25:04
I'll turn on the walkie-talkie. Sorry, Susie.
25:07
I didn't realize Susie came home.
25:08
Uh, oh, better watch myself. Now back to Pinbex.
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You want silver, gold, or platinum?
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Go check out Pinbex. I'm not telling you what to do.
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Consider. Compare, consider and compare.
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CC OK, Pi, MB, EX. Consider them and compare.
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Do your own research, read reviews.
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That's how I found out about Pinbex was from fellow basement
25:34
dwellers. Several of you three or four,
25:37
said Ron. Check out this company Pinbex,
25:40
and I'm like, I've never heard of them.
25:41
This was a year ago. OK?
25:43
I looked into the company. I read about the company.
25:46
I did several transactions with the company.
25:48
What I found was I got exactly what I wanted, The exact same
25:52
silver products that I could get from other online bullion
25:55
dealers. But I got a lot more for my
25:57
money with Pimbex. OK, a lot more in the packages.
26:02
I'm coming. I'm telling you, they come,
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they're wrapped up like Fort Knox.
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Their customer service was awesome.
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And then it became a big honor for me when I developed this
26:13
sponsorship partnership with Pimbex that I could then tell
26:17
The Basement to other community about it.
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And they help support the channel and help make live
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streams and videos like this possible.
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Thank you, Pimbex. Thank you.
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All right, we back on. I'm back on.
26:28
Thank you for the support. And if you ever decide that you
26:31
want to convert part or all of an IRA to precious metals, check
26:34
out pin backs as well. OK, I think you'll find again
26:37
you'll get more metal for your money.
26:40
Let's move on. Oh yeah, Here, here, here, here,
26:43
here. Let's just see what the
26:44
professionals are saying quickly about what's going on.
26:48
This is interesting inflation data and boom, here we go.
26:53
This came from Zero Hedge says headline Bloomberg.
26:58
This is from Bloomberg Markets Live reporter and strategist
27:02
Garfield Reynolds Garfield. That I guess that that that's an
27:07
interesting first name. Anyway, traders traders doubts
27:11
Fed can hit inflation goal. So traders doubts that the Fed
27:16
can hit their inflation goal. under score CPI risk.
27:19
Let's just read this first paragraphs.
27:21
I think that sums it up. Usually that does With most
27:24
articles. The Treasury market is palpably
27:27
on tenterhooks going into this week's inflation release.
27:30
Remember, guys, That's tomorrow. Especially after payrolls join
27:34
the long list of data releases to come to come in stronger than
27:38
expected bond traders, inflation expectations have surged this
27:44
year. Boy, we talked about that.
27:46
What about four months ago? Three months ago, guys To signal
27:50
doubts. That the federal.
27:52
Reserve and Gomer Pyle, Jerome Powell, I'm sorry, can meet its
27:57
goal, meaning risks are tilted to the upside for yields going
28:02
into Wednesday's CPI release, OK, yadda yadda.
28:06
So now that that's why it's going to be so critically
28:10
important to see how the gold market and silver market react
28:14
tomorrow because we're probably going to get high inflation
28:17
numbers, right, which means the Fed's going to be more hawkish
28:20
all we need to continue our fight on employer which should
28:24
torpedo the silver and gold price.
28:26
If that happens, I'm going to be a little bummed out.
28:29
Will you be a little bummed out? Of course I would imagine you
28:31
will. You're a silver and gold
28:33
enthusiast unless you're one of those people.
28:35
Are you one of those people that every time the price when it
28:38
does get torpedoed and we may be that may be something of the
28:42
past. But none the less, when the
28:43
price does get torpedoed and then then people send me these
28:46
emails saying you should be happy when the silver price goes
28:51
down because that means you can buy more silver for a lower
28:54
price. I'm like, I got plenty.
28:56
OK, I'm ready for the 100, the honey, the $100 silver.
29:01
I'm sure I'll buy more. And I do.
29:04
And gosh darn it, let me tell you something.
29:07
This is so important, right? I'm not telling.
29:11
But, but you know, the time to buy silver is when the price
29:16
goes down, the time to buy silver is when the premiums are
29:19
low. Now, right now the premiums are
29:22
still at historically very reasonable level.
29:25
So right now could still be a good time to buy silver.
29:28
But guys, when it starts zooming, you do whatever you
29:32
want, right? I guess in theory, right, if I'm
29:35
saying I think silver can get to $100, well then if it's 35,
29:38
now's a good time to buy, you know.
29:40
So yes, I still think but but be careful with FOMO, right silver.
29:46
Gold is the original fear of missing out trade.
29:49
Silver is like the fear of missing out trade on steroids.
29:53
Rick Rule always says right, he always says right.
29:57
Silver investors pile in as the price goes up and up and up.
30:01
And that could be what what you'd like to already have done
30:05
at that point is you'd like to already have your, your silver
30:08
stack or your gold stack for that matter, but you would
30:12
already want to have it established and you can ride it
30:14
up. And then, hey, you know what?
30:16
If, like I said earlier, if the government gets responsible and
30:19
start spending less than they bring in, that might be a good
30:23
sign that it's time to convert some of your silver into another
30:26
asset. OK, what is this?
30:30
This, This is big. This is big.
30:33
This is big and it has everything to do with what's
30:37
going on. Unfortunately, this rally in
30:41
gold, and I'm hearing this from a number of different sources,
30:44
the public has been selling, all right, a little more than
30:48
average into this rally in the silver price and gold price.
30:53
They've been selling, selling some of their physical.
30:55
OK, everybody. The big smart guys, right.
31:00
I think I heard Andy Scheckman say this last night in an
31:02
interview. He was.
31:04
I forget who he was with. But anyway, right?
31:06
The public unfortunately, historically, is almost always
31:10
wrong. OK, OK.
31:13
So the fact that they're doing that is it's the biggest
31:16
contrarian, potentially the biggest contrarian indicator
31:21
ever. Meaning the biggest indicator
31:23
that what you should be doing is the opposite.
31:26
OK, because the biggest money, the biggest sovereign wealth
31:30
funds, the biggest family offices.
31:32
What does this mean? Right, The world central banks,
31:36
they're all buying precious metals, but the individual
31:40
investors in the West have started selling a little bit.
31:44
It's a big, major contrarian indicator.
31:47
It means good things to come, right?
31:49
And where's all this silver and gold going?
31:51
We're just going to touch on this.
31:53
Let's not forget it's basically going to India and China, OK,
31:58
China and Russia in particular. OK.
32:01
And the Indians are probably in on this too, because the Indians
32:04
now have what's called the I, I BX, which is where they sell
32:08
silver contracts, right? But China and Russia are right
32:11
now explicitly saying that they want to take control.
32:17
And this is where Yellen crazy, crazy news about Janet Yellen
32:21
and it does have to do with silver's going to come into
32:23
play. But China and Russia are
32:25
explicitly saying they want to take control of the commodities
32:28
prices, including agricultural commodities, but also silver and
32:34
gold. And it's happening right now,
32:37
right. We don't like we, you know,
32:40
we'll do our. We don't like it.
32:41
Speech. We don't have to like it.
32:43
We don't have to like the position that our leaders have
32:46
put us into after decades of poor short sighted well I would
32:50
say greedy decisions. It's the reality of what's going
32:54
on and they're going to shove it down the throat.
32:57
I that I have no other way to say it of the United States.
33:01
Oh, cowbell, I got to ring the what you have learning and
33:03
maybe. Put it away from the microphone
33:07
so it doesn't hurt people's. Ears.
33:09
OK, say hi to everybody. Susie, could you please say
33:16
hello to everyone? Hello everyone.
33:20
Thank you so much for being here.
33:22
We really, really appreciate it. You're awesome.
33:25
OK, that's enough. Thank you.
33:28
OK, guys, I got to ring the cowbell.
33:30
Then we're going to get into some crazy news about everyone's
33:34
favorite. Yes, well, I put her in a pretty
33:37
box. Do not feed magic mushrooms.
33:41
Yes, the one and only Janet Yellen.
33:44
And what that has to do with silver and gold.
33:46
Where's the cowbell? Cowbell warning for all the
33:48
people, Right. I'm going to ring the cowbell to
33:51
signify our solidarity and love for one love like high degree of
33:56
like basement dwellers. But for those of you that don't
34:00
like bells, that was your warning.
34:02
I know the guys at the Goldman Sachs trading desk have to mute
34:05
their speakers. Here we
34:18
I forgot to tell you, we all smile together.
34:21
It feels good to smile. Come on, everybody.
34:23
Big smile. All right, Be a little cheesy.
34:28
What's going on with Yellen? Stop buying silver.
34:32
Is that what she was telling the Chinese?
34:34
Stop. Stop buying silver, OK?
34:37
Because apparently she guess her.
34:40
She can. You see her?
34:41
There she is. I like Janet.
34:44
What's in the. I forget what she has.
34:46
Oh, you'll never guess what's in the box with her.
34:53
A cockroach. Anyway, she went to China.
34:56
Big trip to China, right? Lay down the law.
34:59
This is big news. This has a lot to do with what's
35:02
going on in the world, which will have a lot to do with
35:05
what's going to go on in the silver and gold market.
35:08
OK. She's getting tough on China.
35:10
Did you hear that? OK, she told them.
35:14
This is crazy. She basically told them in so
35:17
many words, the analysis that I've read stop making so many
35:22
solar panels, Stop making so many electric cars.
35:27
I don't know if you've, you've heard this or not, but the
35:30
Chinese have become very efficient at manufacturing solar
35:33
panels and they've got some electric cars.
35:37
I mean, look, I don't like it, I'm not, but China is kind of
35:40
kicking kicking rear end in the electric car market.
35:45
They've got electric cars that are like a third of the price or
35:48
half of the price of what we can produce.
35:50
Hold on one second. And and, and, and, and now
35:58
Yellen's over there saying, we're not going to let you sell
36:00
your electric cars in the United States.
36:02
We're not going to let you sell your.
36:04
You're cheating. You're being subsidized by the
36:07
government, right? This is the reality.
36:11
After she left the Chinese people, the Chinese media is
36:16
making a laughing stock out of her.
36:19
Wow. Thank you.
36:20
Great, Nate. I'm old.
36:22
Avoid all bars. All right, buddy?
36:23
Yeah. 90% constitutional. A lot of people love it.
36:27
I do, too. They're making fun of her.
36:29
They are. They are like on Chinese social
36:33
media. Or unfortunately, not being very
36:36
nice to our Treasury Secretary, who used to just happen just
36:41
coincidentally. Does that make you think?
36:43
Huh. I was thinking about this last
36:45
night. Janet Yellen.
36:47
She's our Treasury Secretary. What'd she do before that?
36:50
Oh, she was the head of the Federal Reserve.
36:53
Oh, isn't that interesting? Think about it.
36:58
No, nothing to see there. That was just a coincidence.
37:01
She just happened to become available for the job.
37:03
So. Oh, we'll take the ex Fed
37:06
president and make her the Treasury Secretary.
37:09
Give me a break. Give me a break.
37:11
OK. Do you think?
37:13
OK, well, let's back up. Let's back up.
37:17
Didn't we bash China? OK, we're telling China.
37:20
Stop buying all the silver for your solar panels.
37:24
Stop buying all the silver you need to make all these electric
37:27
cars. I'm reading between the lines.
37:29
OK? We're telling them.
37:30
Stop making all this green. Environmentally friendly
37:33
products. What are you doing?
37:35
Making solar panels? China.
37:36
What are you doing? Making so many electric cars,
37:39
right, isn't it? Make you.
37:42
This is going to floor you. Think back eight years ago.
37:46
Let's see, that would be 2016. You were a little younger, but
37:51
no better looking than you are today, I can guarantee you.
37:54
But what was the only thing that we heard?
37:57
China pollutes the world. Remember the pictures of the
38:00
rivers that were green and blue and pink and all these chemicals
38:05
And China? Remember Remember this one?
38:07
Remember this one? I know because I've got a
38:10
relatives and neighbor friends that are that are management
38:13
level people at a couple of the big coal companies headquartered
38:16
in Saint Louis. I always pay attention to coal.
38:18
Remember they China was was was destroying the earth because of
38:21
all their coal burning plants and China's gonna destroy
38:25
everything and now what, eight years later did I say eight?
38:31
Yeah, eight years later, Yellen's over there saying stop
38:34
making solar panels. Stop making so many electric
38:37
cars. It makes no sense.
38:39
Do you think maybe this is election year shenanigans?
38:45
Oh, my God. What else?
38:46
What else? What else is repulsing you right
38:49
now about election year shenanigans?
38:51
Here's the nuclear bomb. This one, I don't know.
38:54
I don't know those blood pressure numbers, but this one
38:56
makes my blood boil. OK, now we're getting all these
39:00
headlines. Just just.
39:01
I mean, what? Perfect.
39:03
I mean, so I'm sorry, I have to use the S word stupid and dumb
39:08
right now. Biden is coming out saying, oh,
39:11
we're going to wipe out all student loan debt.
39:15
I mean, we're going to wipe it out.
39:17
Bidenomics. We're going to wipe, just wipe
39:19
it out. I mean, I won't even go down
39:21
that path. And yes, sure, if I had a bunch
39:24
of student loan, I'd be selfishly like, yeah, yeah,
39:27
great, let's do it. But most people don't, right?
39:30
And it's crazy to think that they're talking about that.
39:34
Anyway, let's go back to Yellen real quickly.
39:37
This is, this is, this is just absolutely, this is CNBC.
39:42
This is what the mainstream media saying the United States
39:45
ready to sanction Chinese banks if they aid Russia's war
39:49
machine, Yellen says. Yeah, Yellen's getting tough.
39:53
We're going to talk about the guy who talked about $60,000
39:56
silver here in a second. OK, so here's, you know, Maine.
39:59
the United States was prepared to sanction China's.
40:02
Read this. Let's just read the key points
40:04
together. What do you say at basement
40:05
dwellers? This is our world.
40:07
The US is prepared to sanction Chinese banks and companies, as
40:11
well as Beijing's leadership, if they aid Russia's military.
40:16
In its invasion of Ukraine, U.S. Treasury Secretary Janet Yellen
40:20
said on Monday. OK, and what I'm I, I I am, I am
40:24
a born patriot American, right? But I'm telling you what they're
40:28
saying. Is it double standard?
40:31
I'll leave it at that double standard.
40:33
The comments were part of a broader economic message that
40:37
she's delivered to Chinese officials during her visit to
40:40
the country. Over the past several days, the
40:44
US and China have been working to heal their relations, even as
40:47
the two superpowers manage ongoing economic tensions.
40:52
OK, and let's just move right over here, because we love, we
40:56
love to talk about gold and silver, and this has to do with
40:59
China as well. From Zero Hedge, China gold
41:02
buying sparks friends, China gold buying frenzies sparks
41:08
chaos in ETFs. Basically, guys with this
41:12
article saying is that there is a gold mania going on in China
41:18
for the first for the second time, and this was as of
41:22
yesterday, OK. For the second time in a week,
41:26
trading in an ETF that owns gold companies was halted in China
41:31
overnight. The ETS price had gained over
41:34
40% in the past four sessions before falling 10% after trading
41:40
resumed Monday. OK, Chinese people are have just
41:43
gone absolutely crazy about what's going on in the gold
41:49
market and and we know why, right?
41:51
Makes sense. OK, makes perfect sense.
41:55
Let's talk about some doom and gloom.
41:57
Well, let's talk about, let's just go back to our friend
41:59
Robert Kiyosaki here real quickly.
42:02
Don't forget the Argentine peso. According to this chart, Right
42:05
only went up 7000%, but now it's up 3000.
42:09
I'm sorry, 300 more percent from where that was.
42:13
But let's go. That's the old there's the gold
42:16
bull market. Yes, silver is still $3.00 an
42:20
ounce more in China. Oh, here we go.
42:22
Robert Kiyosaki Tech are are tweeted this what two days ago
42:29
the everything bubble. Stocks, bonds, real estate set
42:34
to crash. OK, it's Robert Kiyosaki.
42:39
U.S. debt increasing by only one trillion every 90 days. the
42:45
United States is bankrupt. You put that in all caps, guys.
42:49
It's true. We're bankrupt, OK?
42:51
the United States is bankrupt. Save yourself.
42:55
Please buy more real gold, silver, and Bitcoin.
42:59
We talk about gold and silver here.
43:01
Crypto people can do what they like.
43:02
I will say crypto people and gold and silver people, as is
43:06
indicated in this in this text, share a lot of the same
43:09
fundamental beliefs when it comes to the Fiat paper money
43:14
system, the fiscal and monetary situation in the world.
43:18
And there was one more I wanted to look.
43:20
All right, we already looked at that one.
43:22
Let's talk about what Jamie Dimon, real quickly.
43:24
You want some doom and gloom? What does it mean?
43:27
Think about this. Jamie Dimon, CEO of JP Morgan
43:31
Chase, right. The biggest investment bank in
43:34
the whole history of the universe.
43:37
What does it mean when he's sounding the alarm bells?
43:39
And I I went through this article I want to talk about
43:42
quickly. Quickly.
43:44
Where is it? Here it is.
43:45
Oops. Bear with me.
43:47
Having technical problems, as per usual.
43:50
OK, And let's make that big and let's go.
43:54
All right, we're on. We're there, guys.
43:55
We're there. Jamie Dimon warns the world
43:59
faces risk that eclipse anything since World War 2.
44:04
OK, let's just go through a couple of the.
44:09
Here it is. OK, All right.
44:11
We'll do the we'll do the, the highlighted words across the
44:13
globe. 2023 was another year of significant challenges, right?
44:19
Wars in the Middle East, wars in in Europe.
44:22
As these events unfold, America's global leadership role
44:25
is being challenged outside by other nations and inside by our
44:31
polarized electorate. No joke, we don't.
44:33
I mean the we're, we're getting hit with a double like a tsunami
44:38
and a hurricane at the same time in the United States.
44:41
The world is kind of ganging up against us, all right.
44:45
We won't go into the the reasons or the right or wrong of that,
44:48
but the world is ganging up against us while at the same
44:51
time we can't get along internally, OK?
44:54
That's the bottom line. We've got all types of financial
45:00
turmoil. This may lead to stickier
45:02
inflation and higher rates than markets expect.
45:06
Furthermore, there are downside risks to watch.
45:08
OK, inflation and market over optimism.
45:11
Right? Geopolitical and economic forces
45:14
have unpredictable timetables, right?
45:17
The inflation situation is not getting any better.
45:20
We have ongoing concerns about persistent inflation.
45:24
Let's highlight that one. We have ongoing concerns about
45:27
persistent inflationary pressures and consider a wide
45:30
range of outcomes to manage interest rate exposure and other
45:33
business risk. OK, everything's in, I mean
45:37
everything's inflationary, he says.
45:40
Here, quote, I believe the odds are a lot lower than that, OK,
45:44
the the in, in reference to this, these markets seem to be
45:48
pricing in a 7080% of a soft landing.
45:52
So we're talking about potential economic hard times and and
45:57
Jamie Dimon thinks that the odds of the soft landing are much
46:00
lower than the market is talking about.
46:05
Therefore, we're prepared for a very broad range of interest
46:08
rates from 2 to 8% or even more. OK, economically the worst case
46:14
scenario would be stagflation. Stagflation, stagnant economy
46:21
with inflation. Are we in that now in real
46:25
terms, right. Some people would argue it's
46:27
going to be interesting tomorrow to see the CPI numbers.
46:30
OK, but guys, remember this. There is no it's springtime.
46:35
Are you planting anything? Tomato plants, garden flowers,
46:39
whatever? There is no more fertile soil in
46:43
the history of the universe for the silver price and the gold
46:46
price. No better environment to ask for
46:49
than a stagflationary environment.
46:51
OK, we've got banking issues, right?
46:54
We know that, right? Treasuries and commercial real
46:57
estate and what? We're going to leave it at that.
47:00
We're going to leave it at that. I got one more Interesting.
47:04
Crazy, interesting. And I'm going to harp on this
47:08
because it's so critical that you, as a silver and gold
47:12
investor, understand this idea. OK, one thing is going to drive
47:18
all this noise tomorrow. The big 300 thumbs.
47:22
Up. OK, thank you, Susie says.
47:24
We got 300 thumbs up. That's awesome.
47:26
I'm going to ring the gong at the very end.
47:27
We've got a big critical point, and I have a new way to explain
47:31
this to you. Last thing we're going to cover
47:34
here and because everybody, everybody's, everybody's talking
47:39
about, oh, the dollar has to go down.
47:41
It's all noise. The, the inflation numbers
47:44
tomorrow. Noise.
47:46
OK, don't you know we don't noise.
47:48
Short term noise, OK. The GDP numbers, short term
47:53
noise. The employment numbers, short
47:56
term noise. OK, there's one thing, one big
48:01
thing, right? One core reason, not the
48:04
symptoms, but the reason, the 'cause that are going to make
48:08
silver and gold gold go much, much higher.
48:10
We're going to get to that. First.
48:12
I want to quickly say thank you 2 channel sponsor, First Mining
48:15
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like I said at first Mining gold.com company started by
48:44
Keith Neumeyer about what, 8-9 years ago now, what's this big
48:48
factor that's going to drive the silver and gold price period,
48:53
right. It's the it's the deflation,
48:56
it's the loss in value in the US dollar.
48:58
You've heard me say that every day for the last two weeks, all
49:01
these we I could bore you with all these symptoms, right?
49:04
And we won't. We'll talk about them, but at
49:06
the end of the day, it's the dollar going down.
49:09
And I want to pull this up. OK, You've seen this before,
49:12
likely basement dwellers, but I want you to look at this chart.
49:16
That's the DXY, that's the dollar index to show you the
49:19
absurdity of what's going on right now.
49:22
If you look at that chart, it starts in 1985.
49:26
The DXY was at about 120. The dollar was stronger than it
49:30
is today. That would make sense, right?
49:33
But if you move a little bit to the right and you get to about
49:35
1992, I looked up. That's the year I graduated from
49:40
college. I looked up the yeah, yeah.
49:45
Dan, who gave you a super chat earlier, wanted you to read a
49:49
comment from his super chat. It says Tom Cotton wears a
49:53
silver tie tack. OK.
49:58
Well, hopefully he's satisfied that you said it.
50:00
I'll dig back through there at the very end and see if I can
50:03
find it. 1992 guys, the DXY index was at 85.
50:08
OK, this we'll go through this quick.
50:10
I want you to think about that today.
50:12
The DXY index is close to 105104.
50:15
I checked before I came on that means, OK, that means that from
50:19
1992 through today, the dollar should be about 25% stronger.
50:25
OK. Here I want to ask you a
50:27
question. I want you to look at that.
50:31
OK. Do you think that today this
50:34
buys 25% more goods and services than it did in 1992?
50:39
Of course not. Of course not.
50:42
Right. No man in real terms, so
50:45
critical for us to understand. In real terms, not nominal, not
50:49
adjusted, not massage, not Bureau of Labor.
50:52
In real terms, the value. Unfortunately, if we'd stayed on
50:57
the gold and silver standard, right?
50:59
If Nixon hadn't hadn't pulled off the 1971 tragedy of taking
51:05
us off the gold and silver standard, this would still buy
51:08
the same amount it would probably buy.
51:10
Think about 1971. What could you buy with this,
51:14
right? I was one year old.
51:15
I can think of 1980. I remember what I could get for
51:18
a dollar. A dollar was a pretty big deal.
51:20
I could run to the local 711, get a Slurpee, maybe a burrito.
51:24
I think the frozen burritos were like $0.25 and play a game of of
51:29
Punch Out or Donkey Kong or something, right?
51:32
I mean, what can you get with this now?
51:34
It's 711, hardly anything. OK.
51:37
So the reality is the real value of the dollar is going to
51:41
continue to go down. Had we stayed, what did the
51:44
Philadelphia Fed just house, the Federal Reserve Bank of
51:48
Philadelphia, put out a report, They said, you know, we did a
51:51
little research. What does this mean, guys?
51:54
We did a little research and we discovered that the gold
51:57
standard or even and they didn't say silver, but I'm going to
52:01
say, 'cause we were on a bimetallic standard in this
52:03
country, I think up through 1870.
52:05
Anyway, that it that does a good job of of preserving wealth, OK?
52:11
I mean, it's just absolutely absurd.
52:14
So we can talk about all this noise, we can talk about all
52:17
these different things going on, yelling, trying to tell China,
52:21
China's sucking in all the world's gold and silver, India's
52:24
sucking in all the world's. We can talk about all this.
52:27
PS. But at the end of the day, all
52:30
you got to look is look at this, go get yourself one of these.
52:33
They're really pretty, man. Yeah.
52:35
And look at it and think 20 years from now do I think that's
52:40
going to be worth have more real value than it does today or
52:44
less. You know I I'm, I'm super duper
52:48
confident, although I cannot predict the future that it's
52:50
going to have less value. It's designed, I mean the
52:53
Federal Reserve is shooting for it to only go down by 2%.
52:56
So there mic drop, my gosh, mic drop, I got to ring the gong.
53:05
Hold on a second, bear with me. We're having technical problems.
53:09
Hopefully you can still see me and hear me.
53:12
I'm trying to find the Super chat.
53:15
I was supposed to read something.
53:18
I don't see it. Oh man.
53:20
I tell you what, the guy that gave the Super chap that wanted
53:23
me to read something. Go to the description of this or
53:26
any of the Ron's basement videos where you can see my e-mail
53:29
address. Hey guys, don't forget to go
53:32
check out Ron's basement.com. We've got a we've got a a
53:36
contest going there where you can win 2 silver rounds.
53:39
A fun little contest guessing what the silver price will be on
53:45
July 3rd of 2024. But you can't really start
53:49
entering that until tax day. But just you can go register.
53:52
There's a bulletin board out there where there's basement
53:55
dwellers 24 hours a day. Yeah.
53:57
Gong. Wow.
54:03
Thank you. Massive crowd today.
54:04
Thank you guys for being here. Let's ring the gong.
54:07
The golden gong. Right from our old friend Stew
54:11
three times for 300. Thumbs up.
54:14
Oh, hey, don't forget. Everybody smile.
54:16
All right, guys, Thanks for being here.
54:26
OK? I'll look forward to seeing you
54:27
soon. Be nice to yourself.
54:30
You deserve it, right? I'll be as nice as I can to
54:32
myself. That way we're nicer to other
54:34
people. And we'll, we'll stay on top of
54:37
this, You know, crazy times in the world, but also crazy times
54:41
in the precious metals market. Thanks for being here.
54:44
OK. And I will see you soon.