Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / You'll be SHOCKED in 1 year 🔥... (Silver Price and Gold Price)

Transcript

You'll be SHOCKED in 1 year 🔥... (Silver Price and Gold Price) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
How does $2900 gold one year from now?
0:05
One year? How does that sound to you?
0:07
What if it's like one of the most prestigious?
0:09
What if it is from the most prestigious Swiss banker in the
0:16
world raising their estimates on gold?
0:18
And wait till you hear what they say.
0:20
We're going to have in just the next three months.
0:23
But we're also going to talk about an unfolding, developing
0:27
major story that could cause potential economic turmoil, need
0:33
we say, catastrophe here in the United States, The longshoremen
0:39
strike that nobody's really talking about.
0:42
They could be a huge deal bigger than what we experienced back in
0:46
early 2020, if you remember those days when you couldn't get
0:50
toilet paper at the grocery store.
0:53
But let's talk about, well, let's talk about you first.
0:55
Then we're going to talk about $2900 gold.
0:58
And we're going to talk about where gold could be by the end
1:01
of the year according to this big top secret.
1:04
Remember Swiss bank accounts, the big Swiss banker.
1:08
But thank you for joining me today.
1:10
Thanks for being here. This is all about us and you are
1:15
part of us. This is not possible without
1:18
you. Your time's precious important.
1:20
I appreciate you joining us. We're going to talk about gold
1:23
and silver. You're part of the group.
1:24
Welcome. Please give this video a thumbs
1:26
up. Subscribe to the channel.
1:30
We're really trying to get some more subscribers, so thank you
1:32
for your help there. And super chats are always super
1:35
appreciated. Let's go.
1:37
Take a look. At at wrong one.
1:42
Here we go the Daily Mirror and this is being reported widely in
1:49
the financial press. However, breaking news, gold
1:53
prices to continue breaking records until mid next year.
1:58
Not just gold, silver will follow someone we talk when they
2:01
say gold, just bear in mind that we're talking about silver as
2:05
well. Gold prices are expected to
2:07
continue their record-breaking upward trajectory with forecast
2:12
projecting a new all time high of $2750 per oz by the end of
2:19
2024. That is in this quarter, the
2:23
fourth quarter, which today October 1st is the first day of
2:28
the fourth quarter. That's according to a a recent
2:31
report very recent from Union Bank of Switzerland.
2:35
That would be UBS. That would be the massive Swiss
2:39
banker. Remember guys, Swiss banks, we
2:44
know that from growing up. I'm 54 years old member Swiss
2:47
bank accounts. The Swiss are the smartest of
2:50
the bankers and they're delivering us really.
2:53
And it gets better from here because the precious metal,
2:56
which has been experiencing a significant rise, recorded its
3:00
all time high of 2670 last week, prompting UBS to upgrade its
3:07
estimate after prices surpassed its long held year in projection
3:12
of 2600. They were one of the big banks
3:16
that was out there on a limb saying they thought that gold
3:19
could get the 2600. They were right and now they
3:22
have raised their target. This is UBS.
3:26
This is the company that absorbed Credit Suisse, what,
3:30
two years ago, year and a half ago, The other massive they
3:33
rescued Credit Suisse. UBS has like over 100,000
3:38
employees. This is a big bank.
3:40
This is not some little, you know, regional bank.
3:44
Nothing, nothing against them. This is the Swiss banker telling
3:48
us to buy gold. Here we go.
3:51
Let's get to their targets. Multi colored here.
3:54
We'll start with this. Gold has risen by 29% this year,
3:57
consistently breaking records on its way up in green.
4:02
UBS says we raise our gold forecast to $2750 per oz by the
4:10
end of 2024. That's from from 2600.
4:15
That means in the next three months they see gold 2750.
4:20
They also raised their target to 2850 for mid 2025.
4:27
That came up from $2700. And the big kahuna, the big
4:31
winner of it all, they're raising their their target in
4:36
U.S. dollars to $2900 per oz by the end of Q 3/20/25.
4:44
That was a year from yesterday. We're going to start the
4:50
countdown. OK, in 364 days, they have a
4:55
target price on gold of 2750. Think about where the silver
5:00
price will be. According to the World Gold
5:03
Council, gold prices, this is interesting, tend to increase by
5:07
up to 10% in the six months after the US Federal Reserve
5:13
starts lowering interest rates. As we know, right, Unless we are
5:16
all living under rocks, the Fed just started lowering interest
5:21
rates. We also know that ETF inflows
5:24
into gold, ETS into silver and ETS don't typically start until
5:30
a month after the Fed starts to lower rates.
5:33
We are, we're like that sailboat in the wind is just starting to
5:38
blow, guys. It is going to pick up.
5:40
We're going to have some great tailwinds for the precious
5:43
metals prices here as we head into the next six months.
5:47
As the metal starting point, this is UBS.
5:50
As the metals starting point is higher than we expected it to be
5:54
at the start of the FED's easing cycle, we see increased scope
5:59
for gains to the year end target, particularly as the
6:03
United States election is fast approaching, meaning more
6:06
uncertainty. It's going to be a poop show in
6:11
this country and investor fund demand ETF, like we just talked
6:15
about is picking up momentum. Meanwhile, Oh, this is bad news
6:19
guys. Swiss gold export data also
6:22
signaled a lag in Chinese demand, meaning China is buying
6:26
less gold. However, in green, UBS clarified
6:29
that this is likely because China has reached its allowed
6:32
import limit and not due to a drop in interest from Chinese
6:36
investors. There are therefore, the overall
6:39
export data suggest that global investors are increasingly
6:43
turning to gold as a safe haven asset amid growing uncertainty
6:48
in global markets. Last paragraph then we got to
6:52
talk about economic catastrophe. As such, we see even higher
6:56
prices for gold over the next 6 to 12 months.
6:59
What is this telling us? Driven by greater investment
7:01
demand, we continue to recommend gold's hedging qualities as
7:05
being attractive for the long term from a portfolio
7:08
perspective, the bank said. What is this telling us as
7:13
precious metals investors, right?
7:17
Are you feeling it? I'm feeling it like everything
7:20
right now is working in silver, in gold's favor almost.
7:26
I mean, it's hard to come up with anything that's a a
7:30
headwind to the precious metals prices, OK?
7:34
Three years ago, we were in essentially the opposite
7:37
situation. Two years ago, the winds have
7:40
changed and we are moving into an environment.
7:44
I mean, and the winds, the winds don't usually change overnight.
7:48
Anything could happen, right? We could, we could be sitting
7:51
here six months from now with $2000 gold.
7:54
I do not think that's going to happen.
7:55
We could be sitting here with $24.00 silver.
8:00
I do not think that will happen, but we need to be prepared for
8:04
anything. Big major news story breaking
8:07
this morning and it's not being covered really appropriately by
8:12
the mainstream media. This could have catastrophic
8:16
effects on the US economy, especially as we're now just
8:20
moving into the fall shopping season, the holiday season.
8:25
The longshoremen are on strike and wait until you hear one
8:29
piece of data talking about how how really catastrophic this
8:36
could be for the US economy. We'll start with Zero Hedge and
8:40
then we're going to go to CNBC. But Zero Hedge reports this
8:43
morning, it begins. US port strikes erupt first
8:48
shut. Down in 50.
8:50
Years sparks big fears of supply chain crisis More than 45,000
8:57
international longshoremen 45,000 members from over three
9:01
dozen facilities across 4 so 36 ports across 14 Gulf and East
9:07
Coast port East Coast ports went on strike early Tuesday, making
9:12
the largest labor action at the US ports in 50 years.
9:15
Guys, this it's all over disputes over automation and
9:20
wages. Look, everybody has different
9:23
opinions about unions. I was a member of the Steel
9:26
Workers Union during the summer during my four years of college,
9:31
right? I was a local 110, I believe it
9:33
was here in Saint Louis in The union treated me very well.
9:37
People have different opinions about unions.
9:39
This is not a pro union. Oregon a con union statement.
9:43
But we can say one thing for sure.
9:45
I think this is indicative of what's happening to the middle
9:48
class in this country that people are saying, hey, enough
9:51
is enough, right? The big guys at the top, the CE
9:55
OS, you get to rake in all these millions of dollars.
9:58
How about a couple crumbs for those of us that are out here
10:01
actually doing the work. This graphic shows all some of
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the ports, OK, I don't know if they're all on here or not, but
10:08
I mean, look at all these Mobile, AL, Houston, TX, New
10:12
York, New Jersey, Boston, Delaware, Charleston, Jackson,
10:16
Miami, they are all on strike. Why?
10:20
This is a massive big deal. This can cripple the United
10:28
States economy just at a time, just at a time when the economy
10:32
is so delicate and fragile. Thanks to our our monetary
10:38
policy and fiscal policy from our leaders, our economy is
10:42
super fragile. A lot of people think we are
10:45
already, I believe we are already in a recession right
10:50
now. This strike could be easily
10:54
pushing the United States economy into a deeper recession.
10:58
There's even potential potential, right?
11:02
I've said this for months that we could see a big depression,
11:05
right? Who?
11:06
Knows if this is what will what will be the catalyst to to to
11:11
cause major, major damage to the US economy Because wait till you
11:15
hear this is unbelievable. Unbelievable.
11:18
I had no idea. Everything is so.
11:22
This is from CNBC. Everything is.
11:24
So the supply chain, the supply of goods, parts, food,
11:30
everything is so fragile. It's so just in time because
11:34
these companies wanted to save money and they don't want to.
11:37
They don't want to buy things until they know they can almost
11:39
sell them immediately. So as a result of that, we're
11:43
highly dependent on the shipping networks in this country.
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I'm going to give you a piece of data down here that I think is
11:50
going to drive home to you just how scary this is.
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Says East Coast port strike, the union rejects wage hike offered
11:58
near 50% as shut down at midnight nears.
12:01
Now this is where it gets interesting.
12:05
This highlighted, I believe, yes.
12:06
OK, on average, on average, it takes one week to clear out one
12:13
day of a port closure. That means that for each one
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day, guys, one day that this strike goes on, it will take a
12:24
week for the port to catch up. That would mean that if this
12:28
strike goes on for a week, for seven days, it would take seven
12:33
weeks, right? A month and a half.
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If by chance, let's say the strike goes on for three weeks,
12:43
21 days, what is that? That's almost four months, five
12:47
months. This could this.
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Remember why this is so critical is remember what happened during
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the C19 crisis, OK, we had a shutdown and remember how screw
12:59
and we didn't even have a strike, right?
13:01
We just had disruptions in the supply chain, disruptions and it
13:06
sent shock waves across the economy. the United States
13:10
Federal Reserve, part of the way they dealt with the supply chain
13:15
issue was by printing money. That's all they can do.
13:19
They remember. Remember, this is a fact.
13:22
During that period of time, during the health crisis in
13:25
early 2020, the Federal Reserve printed 40 percent, 40% of the
13:33
US paper. Electronic Unicorn fart dust,
13:36
these things. Oh, here it is, right.
13:39
Oh, there it's floating by. 40% of these that were in existence
13:44
were printed during that period. And a big part of that was was
13:49
because of supply chain problem. So if we go back and read this
13:54
and look at this data, this could be, this could be
13:57
catastrophic for the US economy if this strike goes on for and
14:02
at a time, think about it. I mean think about this at a
14:06
time when the US economy is already in a very, very fragile
14:12
state, OK, as much as 43 to 49% of of total containerized goods
14:20
entering the US are processed through the ports on the East
14:25
Coast and the Gulf Coast. Hello. 50% of the of the cargo
14:31
coming into our country is shut down right now for each one day
14:37
that it continues to be shut down for each one day, it'll
14:41
take a whole week for them to catch up.
14:45
This is big. This is probably, and they
14:48
aren't, they aren't really talking about this on the
14:53
mainstream media and probably, let's think about it, Why aren't
14:57
they talking about it? Because they don't want people
15:00
to panic, to panic by. They don't want the toilet paper
15:03
to get wiped out again, pardon the pun, OK?
15:06
Michael Cankel, CEO of Import Genius, told CNBC.
15:11
The economic importance of the ports impacted by the strike is
15:15
profound. Our data shows a strike of even
15:20
a week will block the flow of hundreds of thousands of
15:25
containers, hundreds of thousands of those big
15:29
containers that are the size of like mobile homes into the US.
15:34
These ports are also a major gateway into the United States
15:40
for refrigerated produce. Time is not on the side of the
15:46
importers guys. This is the biggest story that
15:50
nobody's talking about. How could that impact silver and
15:52
go look, this could push the United could could, right?
15:56
I'm not saying that it's going to happen, but I'm saying it's a
16:01
strong potential possibility that this could push the United
16:05
States economy into a deep recession, right?
16:09
And all this drama is happening, right, as we're in the last
16:13
month leading up to the presidential election.
16:16
I mean, it's very, very interesting.
16:17
We're going to keep a close eye on this.
16:20
OK, basement dwellers, I'm not, I'm not trying to not trying to
16:23
cause panic or stir up concern. But this is a big deal, right?
16:28
And you can, you know, it's a big deal because they're not
16:31
talking about it really on CNN or Fox or any of those to the
16:36
extent that they should. This should be headline front
16:39
page news. What about Warren Buffett,
16:43
somebody, you know, Warren Buffett twice, but massive
16:47
amounts of silver. Yes, silver.
16:50
OK, I'm going to tell you something very interesting about
16:53
a pattern in his silver buying. Good.
16:55
Warren is Warren, right? He loves his silver.
16:59
Preparing to buy more silver. But before we do that, let's go
17:03
check on the silver and gold price guys because we are having
17:06
an active morning. This is not the updated price.
17:11
Let's all take a deep breath, cross our fingers and toes and
17:14
I'm going to press the button here and we're going to get an
17:16
update. Wow.
17:18
Excuse me, woo. Hoo gold is a 31 is that right
17:23
basement? Dwellers, hold on, we don't get
17:27
to do this very often Together. Yes, Gold is up $31.00.
17:32
Silver, our friend. Silver, where is it?
17:37
There it is, Silver up $0.50 per oz to $31.65, the current gold
17:43
price as of 8:42 AM Central Standard Time on October 1st,
17:48
the first day of the third fourth quarter.
17:51
Gold stands at 2663. Hey, if you want to beat Warren,
17:57
all right, if you want to get in front of Warren Buffett and get
17:59
your hands on some silver or gold or platinum group medals,
18:03
hey, look, we get to get together every single day here
18:06
in the basement. You're part of the club, you're
18:08
part of the group. I'm so happy you're here, but
18:10
it's not possible #1 without you #2 without the sport of our
18:15
sponsors, including Pembeck's. Now.
18:17
I feel so great about having Pembeck's as a sponsor because I
18:21
was a customer of Pembeck's before or they sponsored my
18:26
channel. I made like two or three what to
18:29
me were big purchases of silver from Pembex and I was just
18:33
incredibly happy. Great service, great selection
18:37
and real important to me because I'm a a frugal person,
18:41
resourceful. I like value.
18:44
I like to get the most for my money.
18:46
I got the best prices around. So I knew when my package showed
18:50
up that it weighed more than if I'd bought it from one of the
18:53
other big online bullion dealers, right?
18:56
Because I got more metal for my money.
18:58
With Pendbacks, their prices are always ultra competitive.
19:02
But you want to work with a company you can trust.
19:04
Look, I'm not telling you what to do.
19:06
I'm just saying do your own research, have your own
19:09
experience. A lot of I learned about
19:13
Pembecks from you guys. That's how I found out about the
19:15
company. I had to find out for myself.
19:17
You got to find out for yourself, Warren Buffett.
19:21
I really, really want Warren Buffett to get back into the
19:25
silver market. And we got an interesting
19:29
pattern that was pointed out why Warren just might come back.
19:33
But I'd really like Warren to be a customer of Pembacs.
19:35
I think that would be great. I know he's smart.
19:38
He likes to get the most medal for his money.
19:40
So Warren, I know you're one of the basement dwellers.
19:42
I know you're watching. Please consider Pembacs when you
19:45
make your potential huge silver purchase.
19:51
Let's go see what Warren's up to.
19:53
All right, guys, we're going to go on a little field trip out
19:55
here on the Internet and see if that's it.
19:59
Yes, OK, Warren Buffett history doesn't repeat.
20:06
This comes from Nastra, House of Gold.
20:11
History doesn't repeat, but it rhymes.
20:13
Warren Buffett loves silver. Few people understand or
20:18
recognize this. OK, now this was an article from
20:23
26 years ago. So we are we are not going to
20:26
call this breaking news. Wonder if I can click on this.
20:30
Yeah, OK. Buffett discloses big silver
20:33
purchases. Berkshire Hathaway position is
20:35
largest since the Hunt brothers in 1980.
20:40
This was from 1998. This is important though as
20:46
silver prices soared denying your highs.
20:48
Legendary investor now. He was a legend back then.
20:52
Warren Buffet disclosed today that his company has loaded up
20:56
on nearly 130 million ounces of the precious metal supply since
21:03
July. I'm gonna give you a little
21:05
teaser for that. What we're gonna finish up with
21:08
Warren, but then I'm gonna tell you about another potential
21:12
demand source that could be hundreds and hundreds and
21:15
hundreds of millions of Oz of silver.
21:19
And no, it's not the usual suspects.
21:21
This is something new and this is something that is exclusive
21:26
for US basement. Dwellers, breaking news, but
21:28
back. To Warren.
21:29
So Warren Buffett, I didn't realize it was that much 130
21:33
million oz. Now this author points out
21:37
something very, very interesting.
21:40
OK, Buffett bought silver in the 1960s, also bought massive
21:46
amounts of silvers. Then he bought it in the 1990s.
21:50
Is he about to load up again for the third time?
21:54
He seems to buy every three decades, every 30 years.
21:58
He bought in the 60s, He bought in the 90s.
22:02
If you add 30 to 1990, you come up to right now guys right now
22:08
and there is nothing stopping Warren Buffett from buying
22:13
silver. Warren Buffett is a smart, smart
22:16
guy. Some people say that like
22:20
government officials and you know whatever have told them,
22:24
don't buy silver, don't buy silver.
22:26
Look, in the 60s he recognized it as being a great value.
22:30
In the 90s he recognized silver is being undervalued.
22:35
Right now. It makes sense.
22:39
Warren Buffett is looking and he sees silver is undervalued,
22:44
right? You know the story, you know the
22:46
reality. Warren Buffett is looking at
22:50
silver right now. I believe he's always Why would
22:54
he stop looking at it? The guy bought massive amounts
22:58
of silver in the 60s, massive amounts of silver in the late
23:02
90s. Why do you think he just
23:05
suddenly silver was erased from Warren's mind?
23:09
No, it, it was not. Do you have the experience?
23:13
Look, silver, once you get, once you're a silver enthusiast and
23:18
you watch silver, it never goes away.
23:21
I, I got news. I, you know, I'm the silver
23:23
psychiatrist. I've told you that.
23:26
Sorry. It's a lifelong disease that
23:29
we're going to all have to deal with.
23:31
I'm addicted to silver, right? Don't forget, I'll give my quick
23:34
diagnosis. For those of you who don't know,
23:36
I am the silver psychiatrist. Silver has a dual diagnosis.
23:41
Silver schizophrenic has multiple personalities.
23:45
It has its industrial personality and it has its
23:48
monetary personality. The words related to gold on its
23:53
industrial personality, it's related to copper.
23:55
But not just that it's not just schizophrenic, it's also
23:59
bipolar. It is subject to mild mood
24:01
swings, which is another way for us to say.
24:06
We. Love my wild mood swings and
24:09
silver, especially to the upside, right?
24:12
The days when silver. This is interesting.
24:16
And I was listening to somebody talk about the Comex and when
24:21
the Comex breaks the electronic exchange, there's circuit
24:26
Breakers in place on the Comex. I'll look them up and give you
24:30
more specific, but I think they're like like once it goes
24:33
up, silver goes up $3, they shut down the Comex.
24:36
They stop trading once silver goes up, I don't know, like
24:39
$7.00, but silver can go up as much as $12.00.
24:44
And I need to dig in and give you, but in one day, OK.
24:48
And there are people saying those days will come, right?
24:50
The day when the COMEX breaks, all right, when the LVMA break,
24:55
when the physical demand for silver overwhelms the paper
24:59
market. Remember guys, it's leveraged at
25:01
like 400 to one when those markets break, right?
25:06
We can have these days, we can have days where the price of
25:09
silver is up 12 bucks and they just shut it down.
25:15
Do you remember, was it 18 months ago what happened in the
25:19
nickel market in at the London Metals Exchange?
25:22
It went berserk. It went off the charts.
25:25
They had to shut it down for like 3 days.
25:28
OK, that can happen. Same thing could at some point,
25:34
and I think it will me personally happen to the silver
25:39
market as well. Maybe when the news gets out
25:41
that Warren Buffett's buying silver.
25:43
I'm not saying he is, but I'm telling you, once you're once
25:47
you're once you're a silver bug, a silver stacker, you're always
25:52
this Warren Buffett, welcome to the basement.
25:55
You're always welcome here. But you know what?
25:57
Warren Buffett's no more important to you.
25:58
Don't forget that, right? You're part of this group.
26:02
You're a silver stacker, you're a basement dweller.
26:04
You're maybe you're a gold bug, maybe you're Hold on once.
26:10
Susie just said hold on one second, guys, I need to check in
26:12
with the boss. I could not even remotely
26:15
understand what you said. Please hold the walkie-talkie at
26:18
a minimum 9 inches from your mouth.
26:20
Yes, Sir. Silverholic.
26:26
Silverholic. OK, Thank you, Susie.
26:29
Susie said Silverholic. Yeah, I'm a Silverholic.
26:33
OK, maybe this is our support group.
26:38
Once you got the gold. Once you got the gold bug.
26:40
Once you got the silver bug, it never goes away.
26:44
Do you know anybody right? You always are watching silver.
26:48
Warren's watching. Warren likely is with us right
26:52
now in the basement. I'll invite him right now.
26:55
Warren, you're always welcome to come down here in person as
26:58
well. OK, now let's move on.
27:01
Oh, yesterday what killed gold? This is this is funny.
27:04
Jerome Powell spoke yesterday from the Federal Reserve.
27:07
Yes, that Jerome Powell who's going to wind up printing
27:09
unbelievable amounts of money. OK.
27:13
And he'd be threw cold water on this whole rate rate cutting
27:17
thing right through a little cold water.
27:19
It made the odds of the next rate cut go down.
27:22
Let's go out to the CME Fed watch tool just to get an update
27:26
on what we're expecting for rate cuts at the next meeting.
27:29
This is the Chicago Mercantile Exchange Fed Watch Tool.
27:35
The next meeting isn't not for 37 days, OK, 4 hours, 8 minutes
27:40
and 2 seconds from now. So in 37 days, we're going to
27:45
get our next rate cut unless they do an emergency rate cut
27:48
sooner. Right now guys, this.
27:50
Is easy to. Read OK Target rate
27:52
probabilities for the for the November 7th, 2024 Fed meeting,
27:58
the current rate is set at 44.75 to five.
28:04
OK, So the odds of 1/4 percent cut, which would go to 4.5 to
28:10
4.75 are 64 to the third. So they're saying there's
28:14
basically a 2/3 chance that it's only going to be 1/4 percentage
28:19
point rate cut at the next meeting.
28:21
Right now, this is based on like the futures market, big money
28:25
that's making bets, taking positions based on where they
28:30
see the rates going. So they're saying there's a 2/3
28:33
that we're only at a quarter point, a 35% chance.
28:36
This is 1/2 point cut over here. The reality is very simple, very
28:43
simple, very simple. Listen, Jerome Powell has lost
28:48
his potency. He's like the school bully that
28:53
got beat up, OK? He doesn't have the power.
28:57
The the mainstream financial media is going to want us to
29:00
believe that, that that the Fed has the same amount of power
29:05
right now that it had let's say 20-30 years ago.
29:10
The truth is this, they don't have the same amount of power.
29:15
The world is a different place. BRICS, BRICS Brazil, Russia,
29:20
India, China, South Africa, Iran, maybe Saudi Arabia,
29:24
Ethiopia, Egypt and the United Arab Emirates, and about 16
29:29
zillion other countries that want to join.
29:31
The world is a different place. Yes, briefly, we have a massive
29:38
BRICS meeting coming up in three weeks now.
29:41
I mean, this time is flying by. the Fed is cut. the Fed does not
29:46
have the power. They'd still have some power,
29:49
but I would say they're about it's 60% power right now as
29:55
compared to where they were 20 years ago, 20 years ago, the
29:59
United States on many levels militarily, economically, we
30:05
really were ruling the world. They could.
30:07
That's why they were able to do all this insane money printing
30:11
after the tech bubble burst. All this insane money printing
30:17
during the GFC, the great financial crisis, right?
30:20
Instead of dealing with the real problems, they took the easy way
30:24
out. They gave the economy another
30:25
shot of morphine. OK, This is different now,
30:29
right? The C19 crisis happened and that
30:32
really set things. You know, they printed 40% of
30:35
the dollars that are in existence.
30:37
How does that work here guys? Let me show you this.
30:42
And this, if this is all the all the paper money in the world,
30:46
and this is all the gold and silver in the world, OK, they
30:50
increase this by 40%. They can't increase this.
30:54
This, this is limited. This is finite.
30:57
So the Fed is a massive, massive.
31:00
They know, right? Jerome's scared.
31:02
Jerome's in trouble. The only thing they're going to
31:04
be able to do is print. I'm going to show you why I
31:07
lied. I said I wasn't going to bring
31:09
it up and I can't resist. All right, we love looking at
31:11
this thing it and it's scary, but I think it provides us with
31:16
some almost entertainment as well.
31:18
They can't they they are, they are losing because of this, the
31:22
national debt, OK, that creates a trillion dollars of interest.
31:28
We get nothing for that. We get nothing.
31:31
Congratulations, America. A big chunk of all the taxes
31:34
that we pay every year. We get absolutely nothing in
31:38
return. You don't get anything for your
31:40
interest expense except an increase in this, the budget
31:45
deficit, which in turn feeds that.
31:47
So the reality is very simple. I want you to put your thinking
31:51
cap on for a second. The world.
31:55
Oh, boy, I apologize. Hold on here.
31:58
Let's go here. The world, Look at that #35
32:02
trillion. The world's not dumb, OK?
32:05
The investing community's not dumb.
32:07
The only way we're gonna continue as this number
32:10
continues, Remember, it's a debt spiral.
32:13
It's a Whirlpool. Jerome Powell.
32:16
Jerome has warned against it. Jamie Dimon, the head of JP
32:19
Morgan Chase, has warned against it.
32:21
Jeffrey Gunlock is warned against it.
32:23
Ray Dalio's warned against it. Moody's right.
32:26
The only rating agency that has not cut the the rating on the US
32:35
debt is warning about it. Everybody sees it.
32:38
Anybody who's got a calculator that turns on sees that we are
32:42
in a debt Whirlpool and a debt spiral.
32:46
The only way they're going to get anybody see my yellow finger
32:49
to continue to buy this crap, Excuse me, but that's what it's
32:54
turned into is with higher interest rates.
32:57
But if interest rates go higher on the debt, that makes the
33:01
interest expense go even higher and that just turbocharges the
33:06
debt spiral. So the only option that they're
33:09
going to have is to print money to buy the debt, to make it, it,
33:15
it. And and that's just as bad, but
33:17
that's the only way they can keep the system going is to
33:20
print money they're going to have to.
33:21
And that's called the technical term for that.
33:23
You may hear this is monetizing the debt, right?
33:27
Because of the interest rate shoots up where it needs to be.
33:30
That just blows up the whole system.
33:33
So the Fed will come up with some fancy term.
33:35
They won't call it QE. No, they won't call it that,
33:40
right, Because people are, they'll call it operation, I
33:44
don't know, paper poop, I'm not sure, you know, I mean, they'll
33:47
come up with some some term and they'll make it very confusing.
33:51
But when you distill it down to what it really is, it will be
33:54
money printing because that's the only way they're going to
33:57
monetize the debt. They'll create money.
34:00
They'll make this, this magic, you know, it'll be Federal
34:03
Reserve magic. They'll turn this from one into
34:08
two. Poof.
34:11
Oh, now we can pay our debt and they'll.
34:12
Buy the debt. They'll start buying the US
34:15
debt. They've done it in the past, OK,
34:18
They did it during the GFC. They'll do it again and it it
34:22
will. Only at that point things will
34:24
begin accelerating. That's why the BRICS countries
34:29
want nothing to do with this and that what they that why they are
34:32
de dollarizing. I was talking to somebody last
34:35
night. He's like, I don't like using
34:36
the term de dollarizing. I'm like, well, that's what's
34:38
going on. The world doesn't want the
34:39
dollar, right? The Russians, the Chinese, the
34:43
Saudi Arabians, the Brazilians, nobody wants it because
34:48
unfortunately it's trash and they know that it's only going
34:52
to be printed more and more and more.
34:54
And I will tell you in no uncertain terms, Buttercup,
35:01
which I say is a term of endearment, basement dweller,
35:04
you will be so sassified. I love that word sassified.
35:09
You'll be so sassified that you own gold, that you own silver,
35:13
OK, That you own precious metal mining stocks like our other
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channel sponsors, First Mining Gold, which I own a lot of, OK.
35:21
They're a Canadian gold development company with two
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multi million ounce projects in Canada.
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I'm not giving financial advice, do your own due diligence, but I
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like owning gold in the ground in Canada and Fortuna Mining and
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massive amounts of gold being produced in West Africa and
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I also own that stock because I eat my own cooking, right,
35:47
Right. And when I say about being
35:48
sassified, don't forget Pinbacks, the online bullion
35:52
dealer. Maybe it's a good idea.
35:54
You need to make your own mind up, right?
35:56
I'm not giving financial advice, but I do work with Pinbacks and
36:01
own. It's hard to do this with my
36:03
fingers. Those two stocks.
36:04
All right, where were we? Oh, this is crazy.
36:09
Put on your crazy hat. This is breaking.
36:12
This is a Ron's basement exclusive.
36:14
I'm I'm claiming full ownership of this, but anybody else out
36:17
there who wants to spread it around, I think it's an
36:19
interesting crazy fact about silver and this is not it.
36:24
But I want to preface this stuff.
36:26
I love silver. Let's do our Daily Show and
36:29
tell. Look at that.
36:32
Isn't that beautiful? That came from Big 10 the
36:35
Silvershire, one of the moderators.
36:38
Thank you Big 10 for your moderation.
36:40
Thank you to Jake from Jake Custom Parts.
36:42
Jake's going to be here on Thursday, can't wait to see him.
36:45
And Annie Oakley. And there's one more moderator.
36:50
Hold on a second. Let me see if I can remember.
36:54
Basement to upstairs. Do you have a copy?
37:01
Who's the moderator I'm forgetting?
37:02
Well. The ones that are on today are
37:07
Annie and Jake and the other one is Silver.
37:10
Fire. Now I got all those.
37:11
Who else? Oh, I forgot, it's you in the
37:14
lovely silver Susie. The one and only Silver Susie.
37:19
Right. Big news about Silver, this is.
37:23
Crazy, crazy. We're going to get crazy, folks.
37:28
I mean, let's have some fun, huh?
37:30
It's silver. It's gold.
37:32
Last we checked, it was up. Should we check?
37:34
I'm afraid to go check the silver price.
37:38
It can move wildly even if it's down.
37:41
We'll be OK. Let's just go check.
37:42
And then I'm going to show you some very crazy data about
37:45
silver. All right?
37:46
Last we were up $0.49. Let's press the button.
37:50
I got a feeling it's only going to be up $0.30 but I could be
37:52
wrong. Oh my gosh.
37:57
Wow, guys, look at look at he. Look at he.
38:00
I'm $0.67 in silver. Thank you.
38:03
Pin backs. The pin backs magic button came
38:05
through. Wow.
38:07
OK, Despite that, here's some crazy data about silver and here
38:16
it is. This blew me away.
38:17
This came from Make Gold Great again.
38:20
Let me click on this with only three ounces of above ground
38:26
silver per human. Get yours before it's too late.
38:33
Think about that for every human on the planet.
38:36
This is not the crazy part. This is.
38:38
This is this is a first level crazy.
38:41
I've got a Ron. We have a basement dweller
38:44
exclusive coming up next. That's even crazier.
38:47
But for each human look, I'm pretty sure as I'm talking to
38:50
you right now, that right now probably maybe even within hand
38:55
reach, you've got 3 ounces of silver.
38:59
You probably have a lot more than that.
39:01
If I know you and I think I know you, I'm watching you.
39:04
I see you OK, But there's only three ounces.
39:08
Of silver on the planet per human.
39:11
And actually I think that's like the total amount that was mined
39:16
throughout history. Think about that.
39:19
Think do you have your 3 oz. I do.
39:22
I got them. OK right here.
39:25
Let's all hear it right here. As a matter of fact, I bought
39:28
this. This is a three ounce.
39:32
OK, Look at that thing. Silver Heart.
39:34
See it says 3 Troy oz was from a place called Bison Bullion.
39:39
It was an expression of my love for Susie that I think maybe I
39:44
had a little self-interest involved in, but this is how
39:47
much silver is on the planet. Just this little anybody heart.
39:53
For everybody, OK, And most of it has been consumed.
40:01
A lot of it's in solar panels. God, the solar panel stuff that,
40:05
that's not the big news, that's not the big interesting thing.
40:08
But I mean, the solar panel stuff is unbelievable.
40:12
Australia. The world's newest biggest solar
40:16
project going on, India wants to put, I don't know, 6,000,000
40:21
zillion kilowatt, whatever. I mean, massive they got, they
40:24
already have. They got solar farms the size of
40:27
Idaho, or maybe that's an exaggeration.
40:33
They got some damn big solar farms.
40:34
I think one of them said biggest Paris, China, they got solar
40:38
panels. They're using solar panels for
40:40
fence. They got so many solar panels,
40:43
they're everywhere. Anyway, that's not the point.
40:48
Let's talk about, Let's talk about, we always talk about
40:51
India, the precious metals capital of the world.
40:54
Yes, Indian households have 25,000 metric tons of gold
40:58
hidden in the house, just in the houses.
41:00
And many people think that's the official number.
41:03
The actual number is much higher, 25,000 metric tons.
41:07
Let me remind you that Fort Knox in the United States of America
41:11
only has 8000. And we don't even know that it's
41:14
there because they won't let us look at it.
41:16
Yeah, it's yours and mine, but we can't see it.
41:20
I mean, isn't that weird? I digress, Silver.
41:26
It's unbelievable already. What's going on?
41:29
OK. At the the deficit for five
41:31
years, Oh my gosh, the demand is going through the roof.
41:36
The countries that make silver like Mexico, Mexico, Mexico, no
41:40
like silver, right? The politicians are trying to
41:43
stop silver mines. So you got demand going through
41:46
the roof, supply going down. Then we get this news from
41:49
India, right? They but, but last month they
41:53
imported like 10 times what they did last year in August.
41:57
They've been ported like 250 zillion, 1,000,000 ounces of
42:01
silver. I mean, I'm, I'm, I'm joking
42:03
around. I'm not joking around.
42:04
They've been ported this year like the equivalent of like, I
42:08
don't know, over 1/3 of what the mining industry can create
42:13
India. I mean, I'm going to go grab one
42:18
of my Indian neighbors. They're wonderful people.
42:20
I love them. Indian friends, I've been
42:22
wonderful people. I love them.
42:24
Wish I could hug an Indian person right now.
42:26
But it gets this is even crazier when you think about India and
42:31
silver because if you've been in the silver, you may not know
42:35
this, you may know this, but if you've been around silver for
42:39
any amount of time, you know one thing they always talk about
42:44
with India and silver and that is that the farmers are the big
42:49
buyers of silver. Indian farmers, OK, they're poor
42:54
or Indian farmers think rice, whatever they do hard working
42:57
men and women families, but they are the one of the major, major
43:02
big, big impacts on the silver market.
43:05
And I got news for you. And this is where it gets crazy.
43:07
This is not the crazy, this is crazy Level 2, we're going to
43:10
crazy. Level 3, OK, but but this year
43:15
they've had very good weather in India.
43:17
The monsoon season, I don't know whatever.
43:19
Anyway, they're expecting unbelievably good harvest for
43:24
the for the farmers. These farmers store their
43:26
wealth. Imagine this is what Indian
43:28
farmers do. If they have a good year, you
43:30
know what they do? They put their money into this
43:34
silver. That's a fact, OK, because it's
43:40
affordable for them and they use it as a savings account.
43:43
They store up silver for a non rainy day, a rainy day.
43:50
But for them it's a non rainy day, you know what I'm saying?
43:52
Where it doesn't rain so they can't harvest, so they have to
43:55
use their silver guys. This year the harvest has been
43:59
good. So I dug in.
44:01
I thought, well, I wonder how many Indian farmers there are.
44:04
OK, here let me. Show you.
44:06
And then if we do a little simple math that it's it's
44:09
crazy. It's absolutely crazy.
44:11
I went all the way to what is this The Indian Express
44:18
revealing India's these Indian websites always have all this
44:22
pop up stuff revealing India's actual farmer population.
44:28
OK, here it says it right here and now we have the National
44:32
Statistic Office's Situational Assessment of Agricultural
44:37
Households report. This is old.
44:42
I was five years old, but nonetheless it text hasn't
44:46
changed that much the. Countries quote UN quote
44:49
agricultural households. So this is how many actual farms
44:56
there are. OK, farming households at 93
44:59
million. In short, India officially has
45:03
anywhere from 90 million plus to 150 million farmers.
45:08
So let's just say let's just do a little simple math.
45:13
OK, this is more complex math than our politicians in
45:16
Washington, DC can do because they can't.
45:18
They can't even look at the US debt clock and do basic math on
45:21
a calculator and figure out that we're screwed, OK, But we can.
45:27
And we can also do this simple math.
45:29
Think about this, 100 million farmers and that, and I'll be
45:38
we're being conservative in India.
45:40
They all love silver. Check.
45:41
We know that. That's a fact, OK, if they have
45:45
a great harvest and this is just an interesting little, little
45:49
mental activity we're doing here, but astounding if each one
45:53
of those 100 million household Indian farming households were
45:56
to buy, let's say, 5 ounces of this stuff last time.
46:01
I'll show you the back. This stuff.
46:04
I don't know why it's such a shine for this round.
46:08
That would be 500 million ounces of silver.
46:11
And I'm not saying that's going to happen, but I'm just showing
46:14
you. How crazy the limit?
46:16
500 million ounces of silver? You might be asking, but.
46:19
Ron but Ron, the whole mining sector only only only creates
46:27
800 million per year. That would mean that that if if
46:31
each Indian farm farmer bought 5.
46:34
Ounces of silver, I mean that's what like $150.00?
46:39
That would mean that five out of every 8 ounces of silver for the
46:44
whole year for the whole world that's being supplied would be
46:49
gobbled up by Indian investors. Now think about this.
46:54
That's a big deal because we know I've heard the guy that
46:58
Jeff, Kristen from the CPM Group.
47:01
A lot of people. Or get frustrated with him, but
47:04
he's, he just tells you he, I respect the guy because he tells
47:07
it like he sees it and he's not. He could be kind of bearish on
47:10
silver, but he said recently I heard him say.
47:14
That he was bullish on silver, optimistic about This is why
47:17
this is such a big deal, optimistic about silver as we
47:20
head into the end of the year because of investor demand.
47:25
All the other demand is there. But if investor demand and maybe
47:29
it will be Indian farmers deciding to buy a couple, what
47:33
if they buy 2 oz each on average that's 200 million oz that the
47:38
world just does not have. It could be a very interesting,
47:43
a very interesting coming six months for US Silver investors.
47:50
Silver enthusiasm. OK, let's look at one more great
47:55
piece of data for Silver then. Nobody, nobody's talking about
47:59
this. Nobody, nobody pays attention to
48:01
our old friend Silver. This came from Silver Mark,
48:05
excuse me, the fifth highest quarterly close and nobody
48:11
cares. I mean, isn't that true, right?
48:14
This so so yesterday was September 30th.
48:17
That's the end of the third quarter.
48:19
The July, August, September make up the third quarter.
48:23
Yesterday's close in the silver price was the 5th largest in
48:29
history. OK guys, we are in.
48:32
We are in, we are in, we are in new record high territory for
48:38
silver. And I believe that the silver
48:40
price will continue to move higher from here.
48:44
I believe, excuse me, right, that we're going to stay above
48:51
$30 per oz and that if we do right now, we're at this battle
48:55
zone 303132. Once we eat our way through
49:00
that. And do you, do you feel it
49:02
Silver kind of chewing its way through that $30 per oz zone
49:06
once we get the $3334 silver? OK, guys, really seriously, I'll
49:13
say it. Buckle up, buttercup, because
49:15
it's going to be a rocket ship ride.
49:17
Once we hit 34, all of a sudden we're going to look back.
49:23
OK, guys, we hey, if we get. Two more thumbs up.
49:25
I'm going to ring the cowbell. Once we get the $34 silver,
49:29
we're going to close our eyes. Open our eyes and we're going to
49:33
be out there at the pmbex website checking the silver
49:35
price and it's going to say 44. That's what I.
49:38
Think is going to happen and it's not just me, the other like
49:44
just smart people that follow this market closely believe
49:49
that'll be the case. Let me ring the cowbell for 200.
49:54
200 thumbs up. Thank you guys for being here.
49:56
Thank you for being part of the basement.
49:58
I know it was early this morning.
49:59
I'm getting ready to do an interview with a guy who really
50:02
knows a lot about the silver markets, follows it very
50:05
closely. John Lee, he's the CEO of Silver
50:09
Elephant Mining and he's got a very optimistic perspective on
50:15
where the silver price can be heading here in the coming
50:18
months. So I'll have that interview with
50:20
him out in a few days. He's the CEO of a silver mining
50:22
company. He knows silver as good as any
50:26
of us. And we all, you know, he's part
50:28
of us, right? We all share our perspectives
50:31
with each other. It's going to be a fun wild
50:34
ride. Thank you for being here.
50:36
Have a great day. OK, and I will see you soon.
50:40
Bye bye.