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Transcript

✋SILVER - You Best PAY ATTENTION to This! ⛱️ (Gold Price Also) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Welcome to the live stream, Welcome to the basement.
0:05
Are you feeling frustrated this morning with the action in the
0:08
silver and gold market? We're going to talk about that.
0:11
We're going to talk about this big summer rally.
0:14
Could we get above the critical $34 level?
0:18
Could it be as soon as next week or shortly thereafter?
0:22
And will that propel us the levels that we've talked about
0:25
repeatedly $4445 per oz in silver.
0:31
But guys, we got to be real about a couple things.
0:33
We're going to talk about this big volatility that we're
0:36
experiencing in the silver and the gold market, but also, but
0:41
also it's important for us to talk about this critical factor
0:45
and that is this. The silver and gold price have
0:48
left most professional analyst completely baffled over the last
0:53
year. They don't understand why silver
0:55
and gold went up. They're they're baffled by the
0:58
behavior. We've got some answers and it
1:01
also will give us some really, I mean, you want to know, I want
1:04
to know, I want to know basement dwellers, where will the silver
1:08
price be? Think out one year from now,
1:12
July 12th, 2025, where do we think the silver and gold price
1:19
we're going? It will be.
1:20
We're going to dig into all of that.
1:21
We can talk about the gold standard.
1:24
There's a new article out about the bricks forcing the United
1:28
States onto the gold standard. Citibank.
1:31
Yes, that Citibank, what 225,000 employee, massive Citibank is
1:36
calling for $3000 gold. We're going to revisit that as
1:40
well. We're going to have a good time.
1:42
Hey, guys, look, I know. Let's start out here with the
1:44
battle. The battle, OK?
1:46
We are still in play. The battle is still on for this
1:51
$32, thirty, $250 beat that we need to get in the silver price.
1:57
You know, I'm in Pfc, but I want to go out real quickly and we'll
2:02
be fast about this. Did you see this, By the way,
2:06
this dog in Colorado turned on the stove and burnt the house
2:11
down. If we have time, we'll look at
2:13
that later. We're going to talk about silver
2:15
and gold. Let's just quickly I want to
2:16
remind you of the triple top in silver.
2:20
OK, Let's look at the markets. Of course, they're green, right?
2:23
It's always green. Gold down right Now, those are
2:26
futures, about $15 silver getting clobbered today, but
2:30
that's OK. We're going to talk about that.
2:32
Let's go over to silver quickly and pull up the chart.
2:39
This this I hope is gonna show us yeah guys, this range right
2:45
here right 30 see this 32 dollars $32 that's a double top
2:52
if we can get up there again. Let me draw a line on this
2:55
little bitty itsy bitsy chart for you.
2:59
So if we draw a line about right there, OK, that's about, well,
3:04
let's say $32 per oz if we go up there again, it is very, very
3:11
rare in the world of stocks, in the world of commodities, in the
3:15
world of anything that trades that you get a triple top.
3:19
It does happen, right? It actually happened with gold.
3:22
It's a couple points during the last couple years, but it is
3:26
very, very rare. Typically after a double top,
3:30
the third time that the asset, in this case silver, attempts to
3:34
break free, it actually breaks through it.
3:37
Like we talked about ad nauseam over and over again here in the
3:41
basement, guys, once we get above 3230, three, $34 per oz,
3:46
it's off to the races. We're going to get the $44 per
3:49
oz silver lickety lickety split. Now you got to remember one
3:53
thing. I know I woke up this morning,
3:55
right? Susie's at her mom's house.
3:57
The girls were gone. I was all by myself here in this
4:00
great big house. OK.
4:01
And I checked the silver price and I'm it's down like $0.78 or
4:06
$0.79. I'm like, Oh my gosh, you know,
4:10
how are for some strange reason, are you experiencing this?
4:13
I'm not really upset about the crazy move in the silver and
4:16
gold price today. It's it's almost to be expected
4:20
at this point. Remember, they're very volatile
4:24
metals, particularly silver, OK. And this volatility that we're
4:28
experiencing, the big key thing is that we are continuing in an
4:33
upward trend. Let's just quickly go look, this
4:36
will be fast basement dwellers, but we got to remind ourselves,
4:39
let's make this full screen. Hold on here, why is that not
4:44
working? Oh, I know why.
4:46
OK, here we go full screen and let's just look at the year to
4:53
date silver price. All right, and let's draw one
4:57
more pretty line. What color you guys want?
4:59
How about we switch up to orange?
5:01
That's my favorite color and look at this.
5:06
As long as oh shoot, hold on here, get rid of that.
5:11
Make it a straight line. Now guys, look as long look at
5:15
this, look at this, OK, all right, as long as we continue in
5:21
that direction, the volatility is a good thing.
5:24
Silver is volatile. Remember we had a a, a leaked
5:27
document that came out when they set up these futures exchanges.
5:32
The government wanted to induce volatility into the into the
5:39
precious metal sectors sector to discourage right individual
5:44
citizens from owning the metals. They don't want you to own the
5:48
metals. They want you to own this,
5:50
right? Unicorn fart dust.
5:52
Hold on here. They want you to own this.
5:56
This is what they want you to own paper.
5:59
OK? They don't want you to own the
6:00
metals, right? So remember the volatility days
6:04
like today when it's like, Oh my gosh, real.
6:07
No, I, I don't know about you, but for some strange reason, am
6:12
I the only person experiencing this or are you feeling this as
6:14
well? I'm not really bothered by the
6:17
drawdown in the price of the metals today.
6:19
I will be bothered if silver gets down to 2827 again.
6:24
But in terms of this summer breakout that we're talking
6:29
about, right, that we talked about after we got the bad
6:31
employment numbers, after we got the lower inflation numbers,
6:35
with everything going on, I believe that the early summer
6:38
breakout is absolutely still in play.
6:40
And you know, all the fundamental other factors behind
6:44
silver and gold, it's absolutely crazy.
6:46
But why is everybody baffled people, the big professionals,
6:50
right? The the people that that's, that
6:52
are that are educated and and get paid big money to analyze
6:56
the metals, they were all baffled.
6:58
They were all wrong over the last couple years.
7:01
They don't understand why silver and gold did so well.
7:04
OK, let me let me wrap up though.
7:08
Hold on, bear with me on the volatility.
7:11
It's the norm in silver. That's what they want to baffle
7:16
and discourage us from buying and owning physical metals.
7:20
And it's often a, a, a, a, a prelude.
7:23
This big volatility is often a prelude to big, big moves.
7:27
And lately the trend is up and the trend is our friend.
7:31
Did I? You know who else is our friend?
7:32
You. There's no Ron's basement
7:34
without you right now, right? It's just one.
7:37
It's me, right? You're here in the basement.
7:39
It's a big group of us, 3-4 hundred of us already on a
7:43
Friday morning. But you're the most important
7:46
part you right, right. I mean, it's a bunch of us, it's
7:49
a bunch of yous. I guess that's why they called
7:51
it YouTube. But there's only one you
7:53
individual. Thank you for being here.
7:55
Please give this a thumbs up. You can subscribe to the
7:58
channel. Any support is always super,
8:01
super appreciated. For silver and gold, things
8:04
really are different. This is key.
8:06
This is critical. This is what has all the big
8:09
high paid professionals baffled. Things really are different
8:13
right now than any other time in the last 50 years.
8:16
OK, the long standing Co relations are gone.
8:20
Remember, remember what they always used.
8:22
They would always say, like the gold price and silver price are,
8:27
are, are are react inverse to the real, whatever the real rate
8:31
of return, the real interest rate is, meaning that if real
8:35
interest rates were positive, which they have been, right, You
8:38
just take the prevailing interest rate that you can earn
8:41
on your money and subtract the supposed inflation level.
8:44
They're positive. The price of gold and silver
8:47
should be down. Well, that didn't work with the
8:50
other one, right? If the dollar goes up, the price
8:53
of silver and gold go down. How many times then I'll I'll
8:56
only say it once for you, my friends, basement dwellers, do
8:59
we have to remember we've had a strong dollar.
9:03
The dollar is actually strong on a historic basis right now, but
9:07
somehow with positive real interest rates with a strong
9:12
dollar, which we all know, right?
9:14
The dollar is just the prettiest turd in the toilet.
9:17
I'm sorry, that's as gross as I'll get on this live stream,
9:21
but for some reason, I just love to say that the dollar really
9:24
is. I'm going to say it again.
9:25
It's Friday. What the heck?
9:27
It's my basement. It's the prettiest turd in the
9:29
toilet. But oh, and those big high paid
9:31
professionals, like we don't, we're confused, Ron, we don't
9:35
get it. Basement dwellers, Why?
9:36
Why are gold and silver going up in this environment?
9:39
Right there is a big reason. And we're going to get to that
9:42
here real soon. I'm not going to keep you
9:44
hanging for too long. I don't do that.
9:46
But then and then we got a lot more to talk about Citibank
9:49
telling us $3000 gold. But these guys, they're all all
9:54
confused. Now, before I tell you why, why
9:58
gold and silver have done so well, OK, let's also stop and
10:02
pause for a moment and have a moment of gratitude.
10:04
You know what? What better place to go?
10:06
Have our moment of gratitude. They say gratitude's.
10:09
You know the best thing you can do, Be grateful.
10:12
You need to be great. Wow.
10:13
Gold's gold is only down $8 now. Silver.
10:17
Silver was down like $6 earlier. OK, I exaggerate.
10:22
It was down a dollar. But let's press the magic pinbex
10:25
button and see what we get. Oh my gosh, basement dwellers,
10:30
we have the power, I tell you. Look at that.
10:33
Gold now only down $3.37. Moment of gratitude to our
10:39
friends right out there in the gold market.
10:41
Gold 2409 dollars. Wow.
10:45
OK, Silver, almost $3130.85 per oz.
10:50
Stop for a second and think back six months ago.
10:53
Think back to Ronnie's birthday month, February, when gold, I
10:58
don't know what was gold at back then.
10:59
It was two. I mean, whatever it was, I can't
11:04
pull up a chart right now, but silver was 22, right?
11:08
Silver's up almost $9. And Alex, guys, we're doing
11:11
good. And then what a perfect
11:12
opportunity for me to say thank you to channel sponsor Pinbex
11:15
PIM BEX. All right, If you have a problem
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spelling it, write it down right now.
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There it is. It's the place that you want to
11:23
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11:25
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11:28
in my book. If you don't at least compare
11:31
what they can do for you with what the other big online
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bullion dealers can do. It's where I get my silver.
11:38
Actually, I'm expecting a package from them soon, which
11:41
hint, hint might not actually be for me, might potentially could
11:46
be for you. It starts with AG.
11:48
It's called the giveaway that we're planning on doing on
11:51
August 31st. But if you want to get your
11:54
hands on some silver, gold or platinum group medals before
11:56
that, do yourself a favor, check out Pembax.
11:58
I can say it faster than anybody on the Internet because you will
12:02
get a great selection of products and it's a company that
12:08
I believe you'll learn, you can trust, and most importantly, you
12:12
will get more metal for your money.
12:14
Where were we? Let's get back here.
12:17
Hey, basement dwellers. Wow, we're doing OK, guys.
12:22
The summer rally is in play. OK, I'm telling you, we're in
12:27
good shape. We're in good shape right now.
12:29
That could change. Don't make any financial
12:31
decisions based on anything I'm saying here today.
12:33
So everybody's confused, right? All the analysts did, Gordon,
12:40
Goldman Sachs, JP Morgan, they're like, we don't
12:43
understand Ron. We don't know the price of gold
12:47
in this environment. Let me tell you something guys.
12:51
If you had told the the smarty pants people at JP Morgan,
12:55
Citibank and whatever who Goldman Gold, Goldman Sachs,
13:01
Goldman Sachs, Goldman Sachs. Anyway, if you told them that we
13:06
would have the conditions that we have right now.
13:09
Two years ago they would have said, oh, gold will be at $1600
13:13
per oz. So we have, we have golden.
13:16
Excuse me, pardon me. Gold and silver have done
13:23
unbelievably well. We talk about this all the time
13:26
in the face of of factors that should have beat it down.
13:30
Why do you want to know why? Without further ado, I'll tell
13:33
you why. It's China, OK?
13:35
It's India. That is why, OK, The central
13:39
banks and the people and the central banks, You hear all this
13:44
big news now. All the Chinese central banks
13:46
stopped buying gold. Well, maybe they did.
13:48
That's what they're saying. A lot of people don't believe
13:51
they actually stopped buying gold, OK?
13:54
But nonetheless, officially, they stopped buying gold.
13:57
Well, guess what buttercup? OK, that has nothing to do with
14:02
silver. Which makes me so mad because
14:04
the silver price will go down when that announcement comes up.
14:07
But none the less, they didn't sell gold.
14:11
Think about that. When's the last time you heard
14:13
about a central bank in the world selling gold?
14:16
Right? So it's China, it's India.
14:20
That's why the gold price is up. OK, let's go check the.
14:25
And now we got, Oh my gosh, I forgot we got breaking news this
14:28
morning as well, a new story coming out about China and about
14:34
JP Morgan Chase being obliterated on a trade against a
14:39
big Chinese investment firm. So let's run out real quickly.
14:42
So it's not just the Chinese government, which it is, but
14:46
it's also the Chinese people. Let's start here with the
14:50
Oriental ghost and let's just do our daily check in on the
14:53
Shanghai Gold Exchange, OK, And the Shanghai Futures Exchange on
14:58
the SGE, the gold exchange, there's silver.
15:03
Oh gosh, guys, it, it closed at $34.78.
15:07
Where was it? Here in the United States,
15:10
$31.00 will round up and they're closing will round up to 35 four
15:16
dollars an ounce more That's a physical market, the Shanghai
15:19
Futures exchange. Come on guys, my God, somebody
15:23
needs to talk to the Oriental ghost.
15:26
This is not right. They need next next week.
15:28
We fully expect you if you're going to get to 3499, just just
15:33
make it $35. Just joking.
15:36
Thank you Oriental Ghost for all your work and and and what's
15:39
going on here. It's guys $35.00 an ounce for
15:41
silver in China, but it gets even better.
15:44
Did you hear Shanghai? I'm sorry Oriental Ghost broke
15:50
this story. I know.
15:50
Vince Lancey Lance. I always pronounce it wrong, but
15:53
I think he says I pronounce it right and everybody else
15:55
pronounces it wrong. Now I forget how I pronounce it.
15:58
Vince Lancey, probably one of the smartest guys out there, one
16:00
of the best guys. I had him as a guest here in the
16:03
basement. Super nice guy, super genuine.
16:05
I can't say enough good things about this guy, Vince Lancey,
16:09
but he is kind of instrumental in helping break this story as
16:14
well. Hold on here 'cause this has to
16:17
do with JP Morgan. This is from our friend the
16:19
Oriental Ghost. Did somebody stick it to JP
16:22
Morgan? Huh.
16:24
Right. The the convicted silver and
16:26
gold manipulators. According to sign a finance
16:29
article today, in a big battle. A big battle that began in
16:33
November of 2022. The Shanghai Futures Exchange,
16:37
largest gold and silver bowl Zhong Kai Futures killed the Big
16:44
Bear JP Morgan. Wait till we read this, guys.
16:48
OK, there's a couple slides we're going to go through here.
16:51
Zhong Kai Futures made a huge profit and the gold position was
16:55
deployed over 31 tons. That's a lot of gold.
17:00
OK, the actual controller beyond Zimming serialized his diary for
17:05
28 years. OK, here, this is where it is.
17:08
All right, we'll just read the underlying red parts.
17:10
Song Kai young #2 released on Guy Futures was an increase of
17:16
426% since its establishment and an increase of 100% since the
17:21
beginning of this year. Quote.
17:23
After November 2022, we have noticed that the Zhang Kai
17:28
Futures continued to build long positions and gold and silver
17:33
long. OK, It means they were hoping
17:35
for the price to go up and the counterparty of the short
17:39
positions, OK, The person on the other side of the trade, the
17:41
person saying we want gold and silver, why?
17:45
I didn't realize it was gold and silver right there to go down on
17:50
the short positions. The counterparty at that time
17:53
was drumroll JP Morgan futures. That's from Wang Lee, a
17:59
certified intermediate gold analyst at the Shanghai Gold
18:02
Exchange, told the in early 2023.
18:05
OK, now is that it? Yeah, That shows the Shanghai
18:11
Futures Exchange daily chart from October 22 through July
18:16
2022. That's what we like to see.
18:18
OK, guys, that's what we like to see.
18:20
So big breaking story. Hold on here and let me go back.
18:27
I want to show you this as well, I think.
18:31
Is it down here? Now hold on, let's go back.
18:38
The bottom line is there we go. There's Vince.
18:40
That's VB LS ghost. That's Vince.
18:42
I don't know his middle name basement Vince BLVBLS ghost and
18:48
it's on his sub stack where you can check that out as well.
18:50
Oh here, I wanted to show you this.
18:51
Here's the original article that I translated into English and
18:56
it's very long. If you want to dig into that,
18:58
you can go out to Twitter and and pull it all up.
19:00
At the bottom line, basement dwellers is the silver price and
19:06
the gold price are going up because of China and India.
19:12
OK, This Citibank even says it, right?
19:14
There's everybody says it. There is no Western involvement,
19:18
but there's a big keyword that we need to remember and that is
19:22
yet OK. The gold and silver in the
19:25
United States are being sold, not you, not me, right, not us,
19:30
but your neighbors, your general people that are selling gold and
19:34
silver. The mining stocks have not even
19:37
come close to reacting to the renew reality of the new price
19:41
levels that we have for silver and gold.
19:43
I mean, we talked about yesterday a silver mining
19:46
company at $22.00 per oz. OK, it's break, maybe breaking
19:51
even. All right, they, they can, they
19:53
can dig up silver out of the ground.
19:55
Cost about $22.00 for them to get it out of the ground.
19:59
They're breaking even. If the price goes to $32 an
20:02
ounce, guess what, Buttercup? Their expenses don't really go
20:05
up, so they go from making nothing.
20:08
To making $10.00 for each oz. It's going to get even crazier.
20:12
Now here's the deal, and some of you may or may not invest in the
20:16
precious metal mining stocks. That's fine.
20:18
But you got to remember, in the West, where we are, nobody's
20:22
buying the metals and nobody's buying the stocks, OK?
20:26
The only people are the East. They're buying the metals.
20:30
They're not buying the stocks either.
20:32
Let me tell you something about precious metal mining stocks and
20:35
about the markets in general. The market can only ignore
20:39
massive profits and won't ignore massive profits for very long.
20:44
So in the West, this is how it could play out.
20:47
When the market starts to realize, Oh my gosh, Oh my gosh,
20:51
the precious metal mining stocks are minting money, printing,
20:54
literally, they're they're doing a better job than than Gomer.
20:59
Paul. I'm not going to bring him out
21:00
today. OK, you have to wait till
21:02
tomorrow. I'll bring Gomer out tomorrow,
21:05
Jerome Powell, Jerome Powell in a box.
21:07
Anyway, when the market realizes, yes, OK, then that's
21:12
going to put more focus also on the physical metals.
21:17
If we just have a levelling out in the West, OK, just the
21:21
levelling out right now, right? Look at the ETF levels.
21:25
Look at the talk to the coin shop people, right?
21:28
The coin shop people will tell you people are selling, right?
21:31
We got a lot of sellers coming in.
21:33
If that just levels off, right? Because that's where all the
21:37
metal, I mean the Chinese and the Indians are sucking it in.
21:39
Can you hear that noise? That is not Susie running the
21:43
vacuum. Trust me.
21:47
Is Susie on this live stream? Susie's at her mom's house.
21:49
I'm I'm solo today. No, that's vacuum.
21:52
You hear? That's China.
21:56
Can you hear it? I can hear it.
21:57
That's India. They're sucking.
22:00
Look. I mean, look.
22:02
Look at this. Look at all this silver I have.
22:05
Look at this. Look at this.
22:06
Guys, I have to. I can't see if you can see it.
22:11
There we go. Yeah, I have to.
22:13
I have to. I have to tie this stuff down
22:16
because otherwise that vacuum cleaner, I mean, and it's heavy,
22:19
right? Listen to that, right?
22:21
That vacuum cleaner from China and India is sucking it in.
22:25
If in the West, you know, I was talking to my neighbor this
22:29
morning, Peter, I'll get to that in a second.
22:31
OK. But if in the West, we just have
22:33
a levelling off, we don't have Rick Rule says it.
22:37
I'm having Rick Rule on week after next.
22:39
I can't wait. I love Rick Rule.
22:41
I've heard him say this. We don't need this is this is
22:44
this is the gospel? Well, not really.
22:47
I'm not a religious show. I'm not belittling the God, but
22:50
this is is whatever is fundamental for us to understand
22:54
the silver and gold investors, silver in particular, right?
22:58
Rick Rule said this. Rick Rule said silver does not
23:02
need to be loved to do well. Silver just needs to be a little
23:08
bit less hated. OK, And isn't that the truth,
23:12
right? We don't need it to be.
23:13
But imagine what would happen if it is loved.
23:15
Imagine if we all if there was suddenly a big love fest for
23:18
silver and that could happen this summer.
23:21
This could be the big summer breakout like the like the
23:25
what's that called thumbnail for this video said OK, OK, Miners
23:30
cannot ignore profits forever. JP Morgan, the Chinese traders
23:35
stuck it to them. Don't you feel bad for JP
23:37
Morgan? I feel so bad.
23:39
Let's go ahead and see what the let's go ahead and see what what
23:41
Citibank said, But you know what before we do that, hey, I do
23:45
want to say thank you to channel sponsor first mining gold.
23:48
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24:01
financial advice. Do your own due diligence.
24:05
Let's go out to pin backs since we're on the subject and let's
24:09
just let's just check again, see what the hit the wrong button.
24:13
OK, so we're down 5 bucks on gold, $0.57 on silver, telling
24:18
you guys we are still in play for a big rally in the metals.
24:22
Let's go check out what our friend Neils over at Citibank
24:26
had to say. I'm sorry, Neil's over at Kitco.
24:29
Had to say about Citibank. Citibank again sees record
24:34
central bank demand. Record central bank.
24:36
Wait till you hear some of these numbers.
24:37
Pushing gold prices to $2600 this year, $3000 per oz in 2025.
24:48
In yellow. Central bank gold demand has
24:50
slowed in recent months after record purchases at the start of
24:55
the year. Just like anything, basement
24:58
dwellers, right? It's not always going to go up
25:00
and up and up and up. But I want to reiterate, the
25:04
central banks are still buying gold.
25:07
Sure, China stopped for a couple months, but it was even more
25:10
important. Think about this.
25:12
What's even more important for us to remember is they aren't
25:14
selling. Did you hear, Joe?
25:16
Last night? I watched Joe Biden's.
25:19
He talked about Vice President Trump, but I watched it and he
25:23
was doing his whisper thing again about how he's doing.
25:26
You know, how great the economy is.
25:28
Sorry, I got off track. Anyway, the central banks are
25:32
not selling gold. However, some analysts remain
25:35
optimistic that this pillar of the market will be stronger than
25:39
ever in 2024. That would include us, right?
25:42
The Ron's basement analyst, despite gold's current
25:46
consolidation phase. And a report published
25:49
Wednesday, commodity analyst at Citi said solid gold demand,
25:54
excuse me, in the second-half of the year could drive prices as
25:59
high as $2600 per oz. Wow.
26:03
With investors playing catch up with the broader marketplace.
26:08
We cannot, guys. We cannot.
26:12
We, we, this is the, this is the secret weapon.
26:15
You know, like when you're at Dave and Buster's playing those
26:18
video games. And there's always that like
26:20
each, they always have like a like a little button you can
26:22
push where like it just blows up everything on the screen.
26:25
That's what this is. And it is the Western investor
26:29
coming back to the scene. I'm telling you that could be,
26:33
that could be explosive for the silver and gold price, along
26:36
with renewed investor interest like we just talked about.
26:40
The analyst said they expect central bank demand to hit
26:44
another record this year. According to their modeling, the
26:50
analysts expect central banks to buy around 1100 tons this year,
26:55
a 5.8% year on year increase, with the possibility of
26:59
exceeding 1250 tons in a bullish scenario.
27:05
Let's remember basement dwellers, the United States of
27:08
America at Fort Knox, I think it's in Kentucky, right?
27:11
And it doesn't really matter where it is 'cause we can't go
27:14
see it. But none the less, supposedly
27:17
we're told, and we believe everything our government tells
27:20
us, we're told that there's 8000 metric tons of gold at Fort Knox
27:25
now. Nobody's seen it for decades
27:28
except Mnuchkin. That guy, he bugged me.
27:31
I don't, I got AI. Don't.
27:34
It's not good to be to not like people in life.
27:37
We know that, right? But Mnuchkin, I did not like.
27:41
I'm over him now. He's fine.
27:43
Who knows what he's doing that he has a hedge fund or
27:45
something. That new lady, that press
27:47
secretary for Biden, I just, I don't know what.
27:51
Something about her does not sit well with me.
27:53
Anyway, that amount of gold, let's get back to gold. 1250
27:59
tons. Compare that to what the entire
28:03
amount of gold is at Fort Knox 8000.
28:05
That's pretty sick. That's probably what, 1518% just
28:10
this year of the world central banks, they're buying the
28:14
equivalent of like 18% of all the gold that we the richest
28:19
country in the world, exceptional in many ways the
28:22
United States has at Fort Knox. City's outlook comes here in
28:27
this little. I made this into a little box
28:29
for you. City's outlook comes after
28:31
foreign reserve data from the P box showed it didn't add to its
28:34
gold reserves. We talked about that already.
28:36
Despite this shift, analysts noted that official sector gold
28:39
demand has stabilized at a record 28 to 30% of gold mine
28:45
production since 2022. So hold on, somebody's trying to
28:52
call me there. So guys, central banks are
28:55
sucking in almost 30 and now they're saying increasing
28:59
towards 35% in a bull case scenario of the world's gold
29:02
mining production over the next year due to trade wars and
29:06
concerns about US fiscal policy. While the gold market remains
29:10
well supported by central bank demand, City also expects this
29:14
is critical to see further growth among retail consumers
29:19
and investors. Well, guess what, the Chinese
29:22
consumers and investors, all 1.4 billion of them.
29:26
And, and oh, there's this other country whose president was just
29:31
over having a love fest with Vladimir Putin in Russia.
29:35
That would be a Prime Minister or whatever his title is, Modi
29:39
from India. Another one point not, not
29:43
another 1.4 billion people, right?
29:46
In an economy that's rapidly expanding.
29:49
They already got it right. So, so, but they, they know
29:52
they're buying gold and silver. The consumers, they don't trust
29:56
the stock market, they don't trust the real estate market,
29:59
they don't trust the banks, right?
30:01
And think about what's going on in the United States of America
30:04
right now. Think about this.
30:06
This is this is crazy, OK, Then we're going to come back.
30:09
I want to look you in the eye as we talk about this one.
30:12
Think about what's happening in the United States right now.
30:15
We got record stock market. We got record residential real
30:20
estate prices, OK. Think about China now.
30:23
China, the people got burned in the stock market.
30:28
Think about that. The people in China got burned
30:32
badly in the residential real estate market.
30:36
Think about that. The people in China don't trust
30:39
the banks. OK, so stock market, residential
30:42
real estate banks, Chinese people don't trust any three of
30:46
them right now. What do they trust?
30:47
Who are you going to call? They're gonna call gold and
30:50
silver. That's what they're doing.
30:52
Now think to the United States. Can you imagine a scenario?
30:56
I know it seems impossible, right?
30:59
But with the stock market, the Buffett indicator, the Warren
31:02
Buffett indicator is at high, the highest level ever, higher
31:06
than the tech bubble, higher than the O eight financial
31:08
crisis. Could you just maybe imagine,
31:12
could you imagine a scenario where the US stock market
31:14
crashes? Oh, we can't have that, can we?
31:19
I'm so tempted to pull Jerome out of his box, but I'm not.
31:22
Could you imagine a scenario where home prices go down?
31:27
I mean, they've only doubled in the last three years, basically.
31:31
Or gone up 60, eight, 89110%. What are Americans gonna do?
31:38
Could you even imagine a scenario where Americans don't
31:43
trust the banks? No.
31:45
Could you imagine a scenario where Americans lose a little
31:48
bit of confidence and woo Hoo, Unicorn fart dust paper money?
31:55
I'm not saying I want it to happen.
31:57
I'm not saying it absolutely will happen.
32:00
Not at all. But I can work a calculator.
32:03
And when I look at the US debt clock, it seems very apparent
32:06
that we're in a in a situation which is untenable, not
32:10
workable. Right.
32:12
OK, so when you think about these Chinese and the Indians
32:17
are the same way, right? They don't trust the stock
32:19
market. They don't trust the residential
32:20
real estate market. They don't trust the government.
32:22
They don't trust the banks. They don't trust the currency.
32:25
They know what Unicorn fart dust is.
32:27
I think that's where unicorns were invented, was China.
32:29
Could you see that unfolding right here in the United States?
32:34
I could, right? I could.
32:37
And Katie, bar the door. You talk about putting boots on
32:40
the warehouse floor, huh? You want to see some feathers
32:43
fly in the precious metals market?
32:46
It's already stretched. Think about the silver market.
32:49
It's already stretched. This is getting me angry.
32:53
What would happen, right? What would happen to the silver
32:57
price if your neighbors started to buy silver?
33:02
Think about it. It would be insane.
33:05
When they wake up when they pull their heads out of their arses
33:08
and realize this my friends is paper OK, this this is real.
33:16
These are real. These are these are 90% look at
33:19
this 1878 right Morgan silver dollar.
33:24
If you don't own any of these you got to get them that got
33:27
sent to me by a guy in Florida and I really appreciate it
33:30
right. These are piece this is real.
33:33
Ain't when your neighbors wake up.
33:36
It's you know how small the silver market is.
33:39
It's itsy bitsy, teeny weeny right yellow silver dot bikini.
33:43
It's small, small. It could move crazy.
33:47
I'm sorry. I get a little Oh, I'm not even
33:50
done with the city article. Hold on.
33:51
Let's go back and look at this. While the gold market remains
33:57
well supported by the central bank demand, city also expects
34:00
to see further growth among retail consumer investors.
34:03
Quote in red, we remain constructive on gold physical
34:10
uptake over the next 12 months, with a potential Fed cutting
34:14
cycle and US labor market headwinds buttressing paper
34:17
demand for the yellow metal, the city analyst wrote.
34:20
In this environment, the bank sees gold trading between 2800
34:25
and $3000 per oz. Thank you.
34:27
There's Niels. OK, we love, I love Niels.
34:31
He's a great, great puts out great information.
34:33
Thank you, Niels. We appreciate all your hard work
34:37
in the silver and gold sector. What else, huh?
34:41
All right, well, let's talk about this right now.
34:48
The macro, the short term macro environment that will continue
34:51
to be supportive for the silver and gold price.
34:54
Supposedly, inflation's down. OK.
34:57
We also know that the employment market is slowing precipitously
35:01
in this country. We know that overall, the
35:03
economy is slowing down in this country.
35:05
We know that the government is running trillions of dollars in
35:08
deficits in this country. We know that the government has
35:11
a darn near $35 trillion debt level in this country.
35:15
Bottom line is we know because we can do basic mathematics that
35:21
at some point in the future, the only option available is going
35:26
to be for the Fed. I can't resist it.
35:27
I got to get him out. I'm sorry I lied to you.
35:30
Let's get him out. The only option, everybody, it's
35:34
your surprise visit from this guy.
35:36
The only option he has, the only option they're going to have,
35:42
right, is to monetize the debt. Who wants the debt?
35:46
Who wants the debt, right? The Chinese don't want it.
35:50
The Saudis don't want it, right? Nobody wants to buy the debt.
35:54
And there's more and more and growing and growing because of
35:58
the interest that's accruing on it, because of the fact that our
36:01
government is has $2 trillion deficits.
36:05
So there's more and more and then all that debt keeps rolling
36:08
over. Nobody wants it.
36:11
So the interest rate, the only way they're going to be willing
36:14
to even think about it is if it the interest rates are higher.
36:16
But if the interest rate goes higher on that debt, right,
36:20
then, right, that creates more interest expense, that creates
36:24
more debt, right? Which means that they want an
36:27
even higher interest rate to buy the debt.
36:30
OK. And so then that higher interest
36:32
rate, what does that do? Because we've got these huge
36:35
deficits that adds more to the debt level, which means they
36:38
want an even higher interest rate that does it make sense?
36:43
OK, we're in a debt spiral. Sorry.
36:46
The only way out will be for the will be for the Fed.
36:50
And it's not a way out. It just digs the hole even
36:52
deeper is for the Fed to monetize the debt, which means
36:55
print money, which means the value of the dollar goes in the
37:00
toilet, which means inflation goes through the roof.
37:02
And, and you will be smiling happy because you own silver and
37:08
gold. OK, let's look at this quickly.
37:12
We got a couple slides to look at.
37:15
This was great. This came from a post from the
37:20
silver industry sub stack the Silver Academy in 1964.
37:25
Just it's been a while since we've talked about this.
37:28
These five quarters in 1964, these five quarters would fill
37:32
your gas tank. So it cost about $1.25 to fill
37:36
an average gas tank, OK. In 2024 the the melt value of
37:44
these five quarters will fill your gas tank.
37:47
So if you kept these five quarters, right in 1964, you
37:52
could fill your gas tank. If you kept them through today
37:54
and you went to 711, right, They wouldn't know what it was.
37:57
And you said, and you filled up your gas tank or your Phillips
38:01
66, wherever the heck you go to fill up your gas tank.
38:03
And you said here, I'm going to pay with this dollar 25.
38:06
They'd be like that's $1.25. That's not going to get you 1/3
38:09
of a gallon of gas. But if you use the melt value,
38:15
the silver value in those five quarters, you'd be able to buy
38:20
roughly the same equivalent amount of gas.
38:23
Let me see what else we've got here at a few more slides I
38:26
wanted to share with you. Oh, there we go.
38:28
That's the thumbnail. The guys were having a big
38:30
giveaway on August 31st from our friends at Pimbeck's.
38:35
The package is supposed to arrive here today.
38:38
I will open it live tomorrow. I have no idea what's in it, so
38:43
I'll open it during the live stream tomorrow.
38:44
But it's the Summer Silver giveaway.
38:47
It'll be on August 31st. That's why we have the beach
38:50
picture. Let's see what else we got here.
38:56
I don't even know her name. I forget, but she bugs me.
39:01
My friend Mark sent me this one. I thought it was pretty funny.
39:04
She's saying, do you want lies with that?
39:06
Right. That's the I could whatever they
39:08
call her the press secretary from from the Biden
39:12
administration and that's her in a McDonald's outfit.
39:16
And instead of her saying, do you want fries with that, she's
39:18
saying, do you want lies with that?
39:20
So anyway, hello. We're still there.
39:25
OK, hold on here, guys. What the heck is going on?
39:30
All right, we're back. OK, we're back.
39:36
What about the little lucky Irish leprechaun?
39:40
We did you know that we've got here in the basement a good
39:44
friend in Limerick, Ireland? I believe it is.
39:46
I like to call him my little lucky Irish leprechaun.
39:50
We're going to go see what he had to say.
39:52
Bear with me for just one second while I get us out to his
39:57
document. I think you guys.
40:00
Yeah, we'll be able to see that now.
40:03
And let's go. Here we go.
40:07
This guy's great. OK, You you know what's at the
40:11
end of the pot of gold, right? The leprechaun always finds at
40:13
the end of the pot of gold. He finds that pot of gold,
40:18
Right. So this guy's name?
40:19
Pierce. I always called him Pieri ass,
40:22
but he said no, it's like Pierce, like Pierce, like he's
40:24
in Limerick, Ireland. He made luck of the Irish right?
40:27
He's a lover and he we're not anti Bitcoin by any stretch of
40:31
the imagination. But he he told me, hey, I put
40:33
this post on several of the big Bitcoin channels to try to help
40:40
people realize the facts about silver.
40:43
So I just want to read this. I thought it was very well
40:45
written. Bitcoin has done well, up 25%
40:48
over the past six months. When he wrote this, Bitcoin was
40:51
at 53,000 is expensive and risky as an investment as stock and
40:56
shares PE ratios are in a bubble and not seen since the 2000.com
41:02
crash. We talked about that earlier,
41:03
guys. The stock market, according to
41:06
the Buffett Indicator, which compares I think it's the
41:09
Wilshire 5000 index, to the GDP level has never been higher.
41:16
That's what Warren Buffett uses as a crash indicator.
41:20
It has never been in such horrible red territory.
41:23
OK? Pierce goes on to say smart
41:25
money has started to move to physical gold, and particularly
41:29
particularly to physical silver, which is up considerably more
41:34
than Bitcoin. Silver has been up by like what,
41:37
35% in the last six months? Silver is much less risky than
41:41
Bitcoin is now. Very bullish as silver mine
41:44
supply is less than industrial demand as solar photovoltaic
41:49
that needs silver to work ramps up massively in China and India.
41:53
In addition, every piece of electronics from cell phones to
41:56
computers also need silver as well for military use used for
42:00
water purification. Nobody.
42:03
That's the secret factor Nobody's talking about that
42:06
silver's antimicrobial characteristics that are going
42:10
to be used in water filtration. I heard, I've heard a couple of
42:14
the top analyst out there talk about that's like the sleeper,
42:18
right? It's kind of like solar was 10
42:20
years ago. Nobody really cared too much
42:22
about silver being used in solar.
42:24
And we know how that's played out, right, guys?
42:26
Well, guess what? The same is true for things like
42:29
water, for water purification and for medical use.
42:33
In fact, over 300 industrial applications need silver, and
42:37
the shortage of silver is real in 2024 like never before and
42:42
growing. If interest rates are cut,
42:44
physical silver with no counterparty risk will surely
42:48
shoot up. Silver is the best investment
42:50
right now. Think about it carefully.
42:52
Silver's only at the time it was $31.00 an ounce and now and can
42:57
triple to $93.00 an ounce in the next few years is much more
43:02
likely than Bitcoin tripling to 159,600.
43:06
I know the Bitcoin people and I have nothing against Bitcoin,
43:09
nothing against crypto and I'm a a fan I guess you would say of
43:14
the blockchain, right? As a record keeping system.
43:17
Don't you know this? We got to remember something
43:21
critical guys. OK, well hold on, let me finish
43:23
this up. From now on you can never say I
43:26
didn't know about silver. You do.
43:28
Now don't miss out on the investment opportunity of a
43:31
generation or look back and wonder why you didn't invest.
43:35
So thank you, Pierce for sharing your opinion on that.
43:37
Thank you, Pierce for sharing that.
43:40
On a lot of the crypto Bitcoin sites.
43:43
What I want to say is this, we are brothers with the Bitcoin
43:47
people. We are brothers and sisters.
43:49
And by the way, thank you to our brothers and sisters, all of you
43:52
guys who are here. Hold on a second, I forgot.
43:55
I need to say thank you to our moderators.
43:57
I don't know if Silver Susie's here, that's my wonderful wife,
44:01
but we I do know that Jake is here on a regular basis.
44:04
Annie Oakley's here on a regular basis and big 10 the
44:07
silvershire. So thank you to the moderators.
44:10
But we have brothers and sisters in the crypto community, right?
44:15
There's, there's, there's, there's a big part of the crypto
44:17
community and a big part of the precious metal community that
44:21
really don't like each other, right?
44:23
Really like almost, you could, for lack of a better word, say
44:26
hate each other. And, and we got to remember
44:29
something guys, we are, it's kind of like that divide and
44:32
conquer mentality, right? That the governments use, it's
44:35
like, it's almost like Democrats and Republicans, the Bitcoin and
44:39
the gold people. And really we all have a lot in
44:42
common. The, and I'm referring more to
44:44
the Bitcoin verse precious metal argument.
44:48
We, we got like 98.9% of the same belief system that the Fiat
44:53
money system's a joke that the, that, that we need real money.
44:58
So anyway, I, I just wanted to throw that out there.
45:01
We're, we aren't being anti Bitcoin.
45:03
The only thing I would say about and I do not own any
45:07
cryptocurrency. OK, I looked at Bitcoin when it
45:10
was $10 back in whatever 2012, 2011, 2013 when my daughters
45:16
were babies. I at that point, I didn't.
45:23
To me, it was, it was wasn't tangible, wasn't real.
45:26
OK, sure. I wish I'd bought it when it was
45:28
$10. That would have been a really
45:32
smart investment. But I still kind of, for me,
45:35
it's not something that I feel comfortable owning.
45:37
I have nothing against people that do.
45:39
So anyway, that's where all that goes.
45:42
All right, guys, thank you for being here.
45:44
We're going to wrap it up for the morning.
45:47
I should be back on tomorrow. Let's see.
45:49
Let's go do what the heck. Let's take our blood pressure
45:51
medicine. Let's go see how the silver
45:55
price and the gold price are doing.
45:56
I'm going to press the magic button here and OK, gold's down
46:00
5 bucks, silver $0.50. Yeah, not the end of the world.
46:05
We're going to have volatility like we talked about at the
46:07
beginning of this live stream video.
46:10
We are going to. We are, we are.
46:13
Well, I can't say we're going to, but we are still in play for
46:18
a early summer rally. What I mean by that is, is I was
46:22
very confident that September, October we would have a big
46:25
rally in the metals prices. I think that situations changed
46:31
over the last like 10-11 days and that we are now compared now
46:36
compared to to two weeks ago. We are in much more of a
46:39
conducive supportive environment for a early rally in the silver,
46:45
gold and platinum price for that matter.
46:47
So we'll see how it all plays out.
46:48
Thank you guys again for being here.
46:51
Have a great day. OK.
46:53
And I will see you soon.