Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / SILVER & GOLD - "About To Become Must-have"

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SILVER & GOLD - "About To Become Must-have" · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
$3000 gold, $44 silver is a is it a matter of if or is it a
0:09
matter of when? We're going to talk about that
0:12
in this video because we get big news from one of the world's
0:16
biggest banks regarding gold. We're going to cover that.
0:20
But what does it tell us when the mainstream media starts to
0:24
pick up on the gold story and soon the silver story?
0:29
We, we heard from Bloomberg, we heard from CNBC, we're going to
0:34
cover all of that as well. Guys, things are starting to
0:37
pick up. Do you feel it?
0:39
Do you find yourself wondering, will gold hit $3000 per oz?
0:44
I know, I understand. Seems like a a foreign concept,
0:50
a wild prediction. But guys, it's not a matter of
0:54
if, it is a matter of when. We're also going to talk about
0:57
some rumors. I'll emphasize rumors in the
1:01
silver industry that point us toward this $44 silver target by
1:07
Christmas that we're so excited about.
1:09
There is a lot going on. It's a big deal.
1:12
You're here. Thank you for joining me in the
1:14
basement. This is not possible without
1:18
you. Please leave a comment in the
1:20
comment section. We want to hear from you.
1:22
That's how we learn is by working together.
1:27
Look, I can't figure all this out.
1:28
I get a lot of my great information from you.
1:31
So please continue to leave comments.
1:33
We're going to talk about one of your comments later in this
1:36
video, but I'll beg you just one of two Times Now to please
1:41
subscribe to the channel. We're on a big drive to get to
1:44
40,000 subscribers. I'd like for you to be part of
1:47
it. A lot of you already are part of
1:49
it. Welcome to the basement,
1:51
basement dwellers. Let's go out and see what
1:56
Bloomberg, yes, that Bloomberg had to say about gold.
2:00
It's getting interesting. Gold bars are worth $1,000,000
2:08
for the first time. I'm I have just have a question
2:11
for you. How many of these gold bars do
2:13
you have in your basement? From Bloomberg in Green.
2:17
For the first time ever, a bar of gold is worth a cool $1
2:22
million. Now why is it a big deal that
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Bloomberg is reporting on this rather interesting little story?
2:30
It's important guys, because the more good press that gold gets
2:35
and we've been getting zero good press in the silver market and
2:39
the gold market, but when they can't ignore it any further,
2:44
remember we have .5% of the world's financial assets, the
2:48
Western financial assets invested in silver and gold.
2:52
We want this to get back to something more reasonable like
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2% or 3%. And when we get focus on the
3:02
metals from a place like Bloomberg talking about record
3:04
highs and gold, it draws in a few more people, a few more
3:09
basement dwellers. And we'll always welcome the new
3:11
basement dwellers, right? The silver and gold enthusiast.
3:15
But if we go from .5% to 3%, you've heard this story, you
3:19
know what's going to happen. We go from .5 all the way to 3%.
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That would be 6 times the amount of current money in the precious
3:29
metals. And that number has been as high
3:31
as 5%, I believe even 10% within the last 50 years.
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Back to Bloomberg, the milestone was reached Friday when the
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precious metal spot price surpassed $2500 per Troy oz and
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all time high. With gold bars typically
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weighing about 400 oz, that would make each one worth $1
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million. Now it gets interesting here
3:53
when they talk about some nuances because there are some
3:57
nuances to the figure. While gold bars in the London
4:01
market, the global Center for trading, the precious metals,
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the LBMA, the London Bullion Market Association, who
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explicitly in the 1970s when they set up this is the paper
4:12
market guys, the electronic market, you know, backed up by a
4:16
little bit of gold, these 400 oz gold bars.
4:19
But when they set that market up right, there's a memo that was
4:23
released. It was a secret memo that's now
4:26
been released, now made public. I think it was part of
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WikiLeaks, where they explicitly stated that their intention was
4:33
to manipulate the price of gold and silver so that Western
4:36
investors would be discouraged by all the volatility.
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I digress. Those bars normally the ones
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that are real, the non Unicorn fart dust, make believe paper
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bars, the one in 100 or one in 50, whatever the leverage is in
4:50
the in the gold market they normally do weigh.
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Normally I'd want to get a scale if I ever buy one or when I buy
4:58
my next one. They normally weigh about 400
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Troy oz. They contain 350 to 430 ounces
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of pure gold, according to the London Bullion Market
5:08
Association. Those crooks?
5:11
It's also possible for individuals to buy much smaller,
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more affordable bars, such as those sold by Costco or channel
5:20
sponsor pin backs, where you'll always get the best prices.
5:24
We'll talk more about them later in the first half of this year.
5:27
This is interesting. This blew me away.
5:29
Don't get be prepared to get blown away.
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Central bank net purchases of gold stood at 483 tons, the
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equivalent to almost 40,000 of these bars. 40,400 oz bars,
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according to a Bloomberg calculation using figures from
5:48
Metals Focus. It's one of the factors that has
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supported the precious metals blistering rally so far this
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year, along with the expectations of looser monetary
5:58
policy from the United States Federal Reserve.
6:01
That's from our friends at Bloomberg.
6:05
But it gets even better for US silver and gold enthusiasts.
6:09
And yes, I'm talking to you when we hear what, CNBC?
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Oh my gosh, I forgot the big story, $3000 per oz gold
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embedded in a CNBC story. What does that mean for silver?
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Where do you think? Where do you think the silver
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price will be when the gold price hits $3000 per oz?
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And remember, you heard it here first.
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It's a not a, it's not a matter of if, it's a matter of when.
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I mean, think about it. Gold will eventually hit $3000.
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Will it be in the next three months?
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Will it be in the next three years?
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Right. I can say with a high level of
6:50
personal confidence, although I will advise you not to make any
6:53
financial decisions based on anything I'm saying here, talk
6:57
to your financial advisor. But I can say, and I wonder how
7:00
you feel about this, that the gold price easily sometime
7:05
between the next three months and three years will hit 3000.
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It's a bunch of threes, 333. It's the rule of three, three
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threes. I'll keep saying it until it
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happens. In the next three months to
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three years, we will get $3000 gold.
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Where do you think the silver price will be?
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I'm going to type my answer in there cuz I like to participate
7:26
with you as well. I think the silver price will be
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$44 per oz. Easy peasy lemon squeezy,
7:33
whatever that saying is when we get easily this $3000 and then
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guys from from 44 to 54 is is easy money for silver.
7:46
Absolutely, absolutely. I was reading an article last
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night we're going to go into it a little more deeply in the
7:52
coming days about the solid-state batteries being
7:56
produced by Samsung, right? The world's largest or one of
7:59
the world's largest electronics manufacturers.
8:04
Think about that. One of the world's largest
8:08
electronic manufacturers made a major announcement, blew away.
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I mean, people, people's socks were flying.
8:16
Knock people's socks off. It's some big electronic show
8:20
about a new solid-state battery. And there's a lot of debate
8:24
about how much silver is in these batteries.
8:26
But the more I'm reading, the more it's becoming very clear.
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We're talking a kilogram and these batteries blow away the
8:33
current batteries that are in electric vehicles.
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I mean, the, the, the picture is becoming very, very clear.
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Let's go take a look at what CNBC sometimes we call CNBCCNBS.
8:46
But let's see what they're saying in this prediction from
8:49
one of the world's largest banks, $3000 gold.
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And you're going to learn the time frame on this one as well.
8:56
Here we go. This is let's get rid of that.
9:00
We don't want that. OK, Breaking news, gold set for
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fresh highs ahead of the Fed rate decision.
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Analysts see prices at $3000. When, when, when, when are we
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saying basement dwellers in the next three months to three years
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will this analyst is saying that he or she sees it within the
9:23
next year? This is a great article.
9:28
This is CNBC, this is mainstream media, this is the sheeple read
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this. OK, And we're going to read it
9:36
because we want to hear what the sheeple are saying.
9:38
You may be already. I want to ask you a question as
9:41
we go through this. Did you already know all this
9:43
information, right? It's good to review, but there's
9:46
some interesting new information regarding the $3000 gold call.
9:50
But none the less, I want you to think about this.
9:54
These are your neighbors who read CNBC, right?
9:58
That's the mainstream media. This is new people coming into
10:01
the sector. Gold prices have been hitting
10:03
new highs and analysts expects records with some forecasting
10:08
the metal to hit $3000 per oz next year as the US Fed meeting
10:12
draws closer. Here we go in purple. 2024 is
10:17
the year where gold is supposed to reach multiple highs.
10:21
That's from Sabrin Chaudhuri, head of commodities analysis at
10:26
BMI City City Gold's appeal as a city siding O Ron can read,
10:34
citing gold's appeal as a safe haven asset in red.
10:37
Gold thrives from uncertainty and uncertainty is at a peak and
10:43
it's only getting worse. We're going to talk about Russia
10:47
being invaded in a little while. Israel and Iran appear to be on
10:51
the verge of direct conflict. Guys, this is huge, OK?
10:55
After Iran vowed to retaliate following the assassination of
10:58
Hamas political leader Ishmael, I can't say these names.
11:02
Hanyai in Tehran. They assassinated a leader in
11:07
Iran, right? Once the Fed starts to cut
11:10
rates, likely next month, gold could reach.
11:14
I thought I promised you $3000 gold.
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Don't worry, I'm going to deliver.
11:19
Gold could reach $2700 an ounce, said the BMI analyst.
11:23
Other analysts share a similar bullish sentiment.
11:27
Lower interest rates reduce the opportunity cost of buying gold,
11:31
right? Rates are going down.
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It makes gold more attractive. Lower interest rates also
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pressure the dollar. And then, oh boy, yeah, And the
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other thing that pressures the dollar?
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The real value of the dollar. The real the real amount of
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goods and services you can trade your paper dollars for.
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Let's go back. I need to look you in the eye
11:57
when we say this. The other thing that affects the
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real Remember, it wasn't too long ago you could take this to
12:03
a place called the dollar store and get yourself a full box of
12:06
candy. I love rainbow nerds.
12:08
What's your favorite candy? Leave it in the comments.
12:11
But you can't do that anymore. Now, you got to take one of
12:13
these, and I would never do this.
12:17
Oh, that's a fifty. Yeah.
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Well, no, you got to take one of these and one of these.
12:21
But don't take this because this is a piece of constitutional 90%
12:25
silver. But you can take a regular cheap
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new one. That's right.
12:30
So they talk about the interest rates affecting the dollar.
12:33
What affects the dollar, Eisenhower?
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You know the answer, huh? You want to see what affects the
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dollar? It's time for us to go on a
12:42
field trip, Iran's basement field trip.
12:45
Let's go on a field trip and let's go look at the US debt
12:51
clock and let's look at what affects the value.
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That right there, upper left corner, 35 trillion now.
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I mean, we just hit 35 trillion. What the heck?
13:05
This number keeps going up. Oh my gosh.
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That's what affects the value of the dollar.
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OK, This is what affects. Look down here, defense.
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Oh, boy, boys and girls, interest on debt.
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We are now officially spending more money every year on the
13:21
interest alone on the US national debt.
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Then we are on defense and war. That is a critical threshold
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that means we're doomed. That's the good news this
13:31
morning. We're doomed.
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The the real good news is that you aren't doomed because you
13:36
own some silver and gold. Let that sink in for a second.
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OK, Let's just go over here since we're here.
13:46
Oh my gosh, look at this guy's the dollar to silver ratio.
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We've been following this. It was at 08 months ago last
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week. I made a couple of videos about
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it. It got the 426 for it keeps
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going up and up. OK, This is the number of
14:02
dollars, the, the increase in the M2 money supply, the
14:07
increase in dollars per every one ounce of gold.
14:12
OK, there's so there's $442 being created essentially for
14:18
each one. I'm sorry, one ounce of silver.
14:20
I make that mistake from time to time.
14:22
OK. I mean, wowzers, wow.
14:26
There's the dollar to gold ratio that's a little bit lower 3200,
14:29
but this is out of control because the amount of money
14:32
being printed created out of thin air.
14:36
All right, the M2 money supply right over here for those of you
14:39
that are following along visually continues to go up
14:44
while right, the number of silver oz that are mined every
14:48
year continue to go down. I digress.
14:50
Let's get back to the let's finish up on the CNBC article
14:53
because this is the whopper. You see that 3000, we're going
14:57
to get there. Gold investor sentiment looks
15:00
set for the upside in the three to six month window, City
15:05
analysts said in a note on Monday.
15:07
Things are looking good for silver and gold in the next
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three to six months. City, what do they have, 224,000
15:14
employees. Massive, massive bank.
15:17
NASA Bank, They have several analysts there.
15:19
The bank added this is Citi, that they see a $3000 per oz
15:24
target by the middle of 2025 and a fourth quarter average price
15:31
forecast of $2550 per oz. This is a mainstream bank.
15:42
Citibank This is being reported to your friends and neighbors
15:48
who are 3/4 of sleep right believe in Santa Claus, nothing
15:53
against that nothing wrong right?
15:55
They believe CNBC and are seeing this article.
15:59
This is more people coming into I can hear it.
16:02
Can I can I hear a Stampede? Do you hear it?
16:06
Are they coming to your door? Your neighbors saying Oh my
16:09
gosh, I just saw this on CNBC. Traders will also be watching
16:14
out Coin Shop Chris said he was always said he was going to
16:18
leave a case of beans on his front porch for when all those
16:22
neighbors came wanting to ask about silver and gold.
16:25
Tell him to take a can of beans. And by the way, Coin Shop Chris
16:27
has his own channel, the fastest growing silver and gold channel
16:31
on YouTube. You know, he's like becoming a
16:33
superstar on us, which is great. We love him.
16:36
Great friend to the channel. You can check him out at Coin
16:39
Shop Chris on YouTube. Just put in Coin Shop Chris in
16:43
the YouTube search bar. Traders will also be watching
16:46
out for the annual Economic Policy Symposium in Jackson Hole
16:51
this week. Yeah, I just imagine every
16:55
central banker in the world is going to be in Jackson Hole.
16:59
I bet they're going to. I bet they're going to have to
17:00
order extra Johnny on the spots because the place is going to be
17:03
so full of poop. Aren't, you know, Jackson Hole
17:08
Jackson, I won't say it anyway, let's move on basement dwellers.
17:13
And thank you for all the comments.
17:15
Thank you for all the Super chats.
17:17
Thank you most importantly to you for being here.
17:21
OK, this is this is a great community, right?
17:23
We stick together. We'll get through it together.
17:26
Things are getting interesting. Well, let's just mention this,
17:31
right? We know city, you know, you ever
17:33
hear of Morgan Stanley? Morgan Stanley is now saying
17:37
that they see in the short term gold hitting.
17:40
You want to make a guess? What do you think that in the
17:43
short term, in the short term, $2650 per oz.
17:48
We're going to talk about the world International capital for
17:53
precious metals next. But first, we need to go out and
17:56
do an update. This is the part where my heart
17:59
gets excited. This is old data, OK?
18:01
This is from like, like an hour ago.
18:03
Gold was up. We're going to do an update.
18:05
Take a deep breath. Gold could be up from here.
18:07
Gold could be down. Same with silver.
18:10
And here we go. OK, woohoo.
18:12
Yeah, baby, you know what? We're going to start a new
18:15
tradition, see how we like it when we do the update.
18:18
If it's up, we'll honk the horn one time.
18:22
All right, there we go now. We will come back later, and if
18:25
it's up again, we'll keep honking and we'll keep track of
18:27
the day where we get the most honks.
18:29
If it keeps going up, we'll keep coming back.
18:32
So we'll come back and check this later.
18:33
But in the meantime, if you want to get your hands on some
18:37
silver, gold or platinum group metals, this is not possible.
18:40
Our little get together basement dwellers without the support of
18:44
channel sponsors including Pimbex, Pi, MB, EX.
18:49
It's fun to spell, it's fun to say.
18:51
It's even funner. Trust me, when you get a package
18:56
in the mail from them because the package you get from them
18:59
for the same amount of Fiat paper Unicorn fart dust that
19:03
you're going to convert, it still blows me away that we can
19:06
do that. We can convert paper, litter or
19:09
or linen, whatever it is. I get chewed out once it's
19:12
actually not paper, but what's, we'll call it paper into real
19:15
metal. And when you get a package from
19:16
pinbacks for that same amount of Fiat money, paper dollars that
19:22
you're converting compared to the other big online bullion
19:26
dealers that package you get in the mail from them, which will
19:28
be wrapped like Fort Knox. It will be a little heavier
19:32
because with pin backs, you always get more metal for your
19:36
money. But you need to check that out
19:37
for yourself. Go online, read about their
19:40
background. A lot of you already have.
19:42
I've received hundreds of emails thanking me, but I need to thank
19:46
you because you guys were the ones that told me about
19:48
pendbacks like, I don't know, 16 months ago.
19:52
You'll be happy that you did OK, but find out for yourself.
19:56
I'm not ever going to tell you what to do.
19:58
And if you ever decide to convert all or part of an
20:01
individual retirement account, don't trust some retired sports
20:05
celebrity telling you to you that.
20:09
Well, trust your own judgement. You can listen, you can check
20:11
all the companies out, but please also compare what
20:15
Pinbeck's can do for you compared to the other IRA
20:19
conversion companies. Take your time, make a smart
20:21
decision. Where were we?
20:23
Here we are. Wow, 400 basement dwellers man.
20:26
You are part of the of a the second fastest growing YouTube
20:30
channel behind Coin Shop. Chris.
20:33
We're coming for you, Chris. OK, what about India?
20:38
We can't underestimate the power of India.
20:41
I heard last night, if you heard this statistic, I don't know,
20:45
Like in the last two years they've imported, I don't know,
20:48
or three years, 700 million ounces of silk.
20:52
India's like sucking in the world silver.
20:56
OK, I mean, seriously. Well, so is China.
20:58
We got rumors we're going to talk about later.
21:01
Silver industry rumor. Yeah, it's very interesting
21:05
rumors. But India, while they're sucking
21:07
in all the world silver, they're also the gold capital of the
21:10
world. I mean, it's some, correct me if
21:13
I'm wrong, but I would think based upon the fact that Indian
21:17
households alone have 25,000 metric tons of gold stashed
21:21
away. Think about that.
21:23
If you're an Indian person, you and I in India, we got gold
21:27
hidden everywhere, apparently big fancy jewelry in the walls,
21:32
you name it. OK, right.
21:34
Is there a country in the world that has more gold than India?
21:37
Because their central banks got a lot too.
21:39
And this is incredible. Guys, what is happening?
21:42
Let's let's go take a look here, a look.
21:45
See this? Oh, this comes from the silver I
21:48
have you got. Have you ever heard of the
21:50
Silver Academy? I hope you have.
21:53
I have no financial interest in this.
21:55
I'm telling you this from the bottom of my heart.
21:57
John Little runs this organization.
22:00
It's a substat called the Silver Academy.
22:02
Sign up for it. Do yourself a favor, tell them
22:05
you're a basement dweller, okay? Because you'll get an awesome
22:08
article. Actually, I think 2A day
22:10
interesting articles like this one that says India gold market
22:15
update import duty reduction sparks a demand surge.
22:19
This is a very long article, so I highlighted in multiple colors
22:23
for you the most what I believe to be pertinent and interesting
22:26
points. Although the whole things just,
22:29
you know, wonderfully written, the decent recent reduction in
22:33
India's gold import duties has significantly impacted the
22:36
domestic gold market. Announced lately, the import
22:40
duty was slashed by 9 percent, leading to a 6% month on month
22:44
decrease. So they they cut the import duty
22:47
in on gold, the tax on gold. This reduction has made gold
22:51
more affordable, boosting the already robust consumer demand,
22:55
especially ahead of the festive season.
22:58
Now, why don't we have the China has all these big festivals
23:01
every year. All we hear about is how they
23:03
work these poor people to death. India, same thing.
23:06
And they have, but they have all these big parties all the time.
23:10
I'm going to go to both of them at some point when silver hits
23:12
$85, right? We're going to we're going to go
23:15
on a big, big bronze basement basement dweller world tour and
23:20
we're going to go to the festivities in India and the
23:23
festivities in China, OK, the a boost in gold demand, the import
23:27
duty cut fueled a rise in gold demand with reports indicating
23:31
strong buying interest from bold jewelry retailers and consumers.
23:35
Jewelry, gold jewelry is a huge deal in India and here's why.
23:40
OK, Indian women buy these big fancy gold and it's an
23:45
investment for them, but it's also a way they can protect
23:48
themselves because if their husbands ever leave them, they
23:51
get to keep the gold jewelry. We got more and more women
23:55
coming into the stacking community, right?
23:57
What is it? June 16th is International
23:59
Women's silver stacking day. But nonetheless, I digress.
24:02
The India International Jewelry show saw a substantial increase
24:06
in order booking. Additionally, the demand for
24:09
gold bars and coins remains robust as both consumers and
24:12
Jewelers capitalize. OK, there, everybody's stocking
24:16
up. There's the discount to premium
24:19
thing. We're going to skip over that
24:21
surge and this is this Oh boy, here we go.
24:24
Hold on. I need to look you in the eye
24:26
for this one, guys. Guys, we don't believe generally
24:31
speaking, in gold and silver ETFs.
24:34
The only one that we really like are the ones from Sprott in
24:36
Canada, like PSLB that actually own the physical metal.
24:40
There's, there's a massive debate and some people say
24:44
warning out there that like the SLVETF in the United States and
24:49
the GLDETF, there's suspicion, shall we say, that maybe they
24:55
don't actually own all the physical gold and silver that
24:59
they purport to own. I mean, they're owned by
25:01
BlackRock, right? I mean, we know we can trust
25:04
BlackRock, right? Just like the world's biggest
25:06
institutional investor, Blackrock's trustworthy.
25:10
I digress. It's not my area of expertise,
25:12
but I will say that there's some very smart people who have
25:15
dedicated a substantial amount of time and have cast suspicion
25:19
over the ETFs. None the less, when we see
25:22
inflows into ETFs, that means people going into their Fidelity
25:27
investment accounts, their Schwab account, buying shares of
25:30
GLD, buying shares of SLV. It is a bullish sign for the
25:36
precious metals, OK. And because it's some point,
25:41
right, those ETF have to square their books, they have to buy
25:44
the silver and gold And we've seen ETF outflows again, we
25:49
can't under under emphasize this point that the gold and silver
25:54
price over the last year or so feels like I don't know.
25:58
So party going on lately, right? But nonetheless that it's done
26:02
that with ETF outflows and we're just now seeing a change in
26:06
that. And this could be a harbinger,
26:09
if that's the correct word, for good things to come back to
26:12
India because we get news from our friends in India as well.
26:18
Surge in gold ETF investments. Look at this chart, OK, Look
26:23
over here. That's like the last year.
26:26
Do you see that? The green bars, OK?
26:29
July witnessed a notable increase in investments in gold
26:32
ETFs, spurred by changes in the country's budget that made these
26:37
investments more attractive. Net inflows reached about 160
26:43
million, the highest since February of 2020.
26:47
OK, Now it's not just the people, it's the Reserve Bank,
26:51
RBI, right? That's not, that's not Ron's
26:53
Basement International, that's the Reserve Bank of India.
26:58
And they are consistent with their gold purchases.
27:01
They've maintained a steady pace of gold acquisitions with
27:04
purchases totaling 44 tons year to date, surpassing the total.
27:09
Whoa. So, so far this year, so far,
27:13
just this year, they bought more gold on these central banks.
27:18
I, I just can you, can you figure out what's going on with
27:21
these central banks? Why, why do you think these
27:24
central banks are buying gold? I mean, they're just the central
27:28
banks. They're just the biggest
27:31
insiders in the financial world. They're the ones who know what's
27:36
going on. They, they, that my neighbor
27:38
Peter said the other day, they pull all the strings.
27:41
They're the puppet masters of the financial world.
27:44
I wonder why they're buying gold.
27:46
It doesn't. Does that make sense to you?
27:50
Like Andy Scheckman says, right? What does Andy Scheckman say?
27:56
Says they give you a little crumbs.
27:58
You got to put the crumbs together, right?
28:00
And we're looking at all the crumbs and we're getting a big
28:04
smile on our face. Not as big as the smile I'm
28:07
going to get when you give this video a thumbs up or a super
28:12
chat. I'm not begging.
28:14
Or subscribe to the channel. And when you subscribe, make
28:17
sure. And if you're already
28:18
subscribed, go in there to the little settings, press subscribe
28:21
again. Press the bell so you get
28:23
notified. I can't tell you the thousands
28:25
of emails. I don't know why, but people
28:27
don't get notified when I go live.
28:29
So please do that because we want you to be here like you are
28:34
right now. It's a big, big deal.
28:37
This is serious business. Yeah, we'll joke around and have
28:39
some fun. We'll make make fun of this guy.
28:42
Poor little. This is the Jerome in the box,
28:45
right? We're going to hear from him on
28:47
Friday. More on that later.
28:49
But don't forget, he's in a box. On one side of the box,
28:53
recession. On the other side, inflation.
28:57
And that means the price of gold and silver will go much, much
29:03
higher. That's my truth.
29:05
To me, that's a fact. Thank you.
29:07
Wow, yes, thank you, Daniel 400 watchers, look at that super
29:11
chat. Hey, that goes a long way to
29:13
help pay for my kids school lunch.
29:14
I appreciate it. We all have bills.
29:17
I get it. I get it.
29:19
Don't ever give any money that you can't afford.
29:21
Please. All right, Sprott, the CEO of
29:25
Sprott, right, the massive Canadian precious metals
29:30
juggernaut. I was listening to him last
29:32
night talk, you know, guess what he said, OK, He's saying they're
29:36
seeing big inflows in July into their gold and silver ETFs.
29:42
It's happening. What is that telling us?
29:45
OK. And, and he threw in that
29:48
they're seeing increased physical buying of silver and
29:52
gold. Want to hear some rumors?
29:54
I'll say rumors, but I'm hearing this from several sources.
29:59
Interesting. Hold on a second here.
30:02
What did I do wrong? Here we go.
30:04
Thank you, Daniel for that super chat there.
30:07
You're back, you're gone, you're everywhere.
30:11
It's changing. There is massive movement going
30:14
on right now, especially in, I mean, it's going on in gold and
30:18
silver, but we'll focus on silver now just for a second.
30:21
OK, There's there's there's people saying that in the United
30:26
States, right? People are in dire straits.
30:29
It's not good, OK, The average middle class American is in dire
30:33
straits and they're selling they're silver.
30:36
And then what's happening, right?
30:37
That net selling back, right? People say I got to pay for my
30:41
kids school lunch. I got to pay for my home owner,
30:44
you know, you know, the deal, the bills that we get in
30:46
America. What about our health insurance?
30:48
I have good health insurance, OK?
30:51
I'm sick and tired. It seems like every day I get an
30:54
e-mail from Cigna saying we processed your claim and blah,
30:58
blah, blah. I went on one of those.
31:00
I have to use one of those C pap machines.
31:02
I'm like, like hooked up to a air hose all night.
31:05
And anyway, every day I go, you reprocessed your claim and I'm
31:08
like, where did I mean where? And it's such a mess.
31:12
I'm sorry, I'm complaining, right?
31:15
OK, so people have to pay bills. They're selling silver in the
31:18
United States. Here's the rumor that's going
31:20
around, or maybe a level up from a rumor, but I'm not going to
31:25
say that. I can say this is written in
31:27
stone, but the people are selling their silver in the West
31:30
just to survive. That's not the rumor.
31:33
The rumor is that that silver is then being accumulated, melted
31:38
down, and sent into the big vacuum.
31:41
I want you to envision a big vacuum tube that goes all the
31:46
way to the east, West, whatever direction it is, it goes to
31:49
China, it goes to India. OK, people in America can't
31:54
afford, have to unfortunately sell some of their silver, but
31:57
it's being melted down and used to satisfy the insatiable hunger
32:05
that China and India have for silver.
32:08
China used to be a net exporter of silver.
32:12
That has changed. Now they're, I have to hold mine
32:16
down. Keep an eye on your silver, you
32:21
know, but a net over it or something.
32:23
If a big vacuum tube comes in, don't let it get sucked over to
32:26
India and China. That's rumor #1 rumor #2 and
32:31
maybe not rumored. Again, these are, I'm being
32:33
conservative, a step above rumor.
32:35
The Chinese and possibly the Indians are developing direct
32:42
relationships with the Mexican silver miners to buy their Do
32:46
Rey bars, right? That means it still needs to be
32:48
refined a little bit. But instead of.
32:51
Thank you, Debbie, lunch for the silver bear.
32:53
Yeah, the silver bear. Thank you for that super chat
32:58
they're avoiding. They're going directly to the
33:01
miners and saying we'll buy your unfinished silver products and
33:06
we'll finish the refining. They're avoiding the paper
33:10
electronic Unicorn fart dust silver.
33:13
They don't they hate the COMEX. They they almost hate them as
33:16
much as we do and what we don't hate anybody dislike and the
33:21
LBMA, the London Million Market Association, the mothership of
33:25
metals manipulation, right. They're saying, OK, fine.
33:29
Kind of like what Keith Neumeyer is doing with First Mint, I
33:33
think it's called, in Nevada, where he is set up a mint where
33:37
he can, he can mine silver in Mexico, ship it to Nevada, have
33:42
it processed into finished silver products that are
33:46
available direct to consumers. I mean, people are beginning to
33:50
realize, right, that, that we don't have to go through the
33:53
COMEX in the LBMA. They're losing their
33:56
stranglehold, right? It's a very interesting
33:59
development. Thank you, Debbie, for that
34:02
super chat. We need to start paying a little
34:04
more attention, guys, to something with silver.
34:07
OK. And that is, there's the PMBEX
34:10
box channel sponsor. But if you look, follow my
34:13
finger, he's back there. You see him right there, $85.
34:19
That's the silver bear, his blindfold.
34:22
Remember this blindfold, $2500 gold that nobody thought was
34:26
possible? Remember back in December when
34:29
we were fighting for $2000 gold and we made a bold prediction
34:35
here in the basement that we would get to 2500 by May?
34:39
OK, we didn't get there. We got real close and took a few
34:42
more months, but we got there. It's off.
34:45
So when you look at this guy, the $85 silver bear, that's the
34:51
next blindfold that we need to take off.
34:53
First. We got to get to 44.
34:58
OK. Thank you, Susie.
35:00
Susie. Susie just spoke loudly down the
35:03
steps to me. We almost got the cowbell.
35:05
So thank you, Debbie, That the bear says thank you.
35:08
I say thank you. We all say thank you.
35:12
Central Bank Powwow. The biggest we got.
35:14
We can't, we can't lose sight of this right now.
35:18
Central Bank Powwow, Jackson Hole on Friday.
35:22
Doesn't matter what anybody else says, OK?
35:25
What matters is Friday, when this guy is going to talk.
35:31
You see him. Who can you know who that is?
35:33
You see him? Oh, there he is, right?
35:35
Yes. And he's got his Unicorn in
35:38
there. You know what else is in there
35:39
with him? Yeah.
35:40
A Roach, right? That's what that anyway, It's
35:45
all that matters. Everybody's going to be on pins
35:48
and needles on Friday because we're going to hear hints about
35:54
when and how much interest rates will be cut.
35:59
It could shock the market. It could be a crazy day in
36:02
markets everywhere. These are big days, guys.
36:05
I remember when Ben Bernack back, I don't know, 15 years
36:09
ago, gave a speech at Jackson Hole in it.
36:11
These Jackson Hole has had a history of being a an event
36:18
where we see major paradigm shifts where major shifts are
36:22
announced in things like monetary policy, major shifts
36:26
that will have big impacts short term on the price of silver and
36:31
gold because we know long term the price of silver and gold are
36:34
going to the moon because of the simple math that we looked at
36:37
earlier. But but on Friday, that'll be
36:40
the big deal. Hey, today is Tim ZS birthday.
36:43
All right, Tim Zub. I'll just say his name, hoping
36:46
I'll get in trouble that it's his his birthday.
36:48
He's a normal basement dweller. Everybody say happy birthday to
36:51
Tim. I don't know if he's on here
36:52
right now, but I know it's his birthday.
36:55
So happy birthday to you, Mr. Tim.
36:57
Oh boy, oh boy, oh boy. This is the bad part of the
37:00
show. If you don't, if you only want
37:03
rainbows and happiness and everything else, you don't want
37:06
to hear what I'm about to tell you because it's getting ugly
37:09
out there. It's getting ugly.
37:12
Let's take a look. What happens, guys, what happens
37:18
over the next five years, three years, maybe one year is massive
37:24
printing by the Fed, the US isn't.
37:26
The economy is in big, steep trouble.
37:28
And if you have any question about that, if you're hearing
37:31
this next piece of data that I'm going to share with you, and
37:34
it's not this credit card thing, it's what the Bank of America
37:37
CEO had to say about the health of the US economy.
37:43
But we'll start here. US credit card debt soars to
37:46
over a trillion dollars as Bank of America CEO issues a warning
37:52
on depleting American consumer. This is from the daily Hodel.
37:57
Americans are holding more out. Congratulations America, we're
38:01
holding more household debt than ever before.
38:04
I ask you the question, are you holding more debt right now than
38:09
ever before? Right.
38:11
Type. Yes, if you are.
38:12
Type no if you're not. And it's OK, Right?
38:16
But, guys, that is, is is not good here.
38:22
Quickly. Hold on.
38:27
Where'd it go? Here it is.
38:29
Quickly. We looked at this yesterday.
38:32
OK. Gold.
38:34
Money of kings, silver gentlemen and gentlewomen.
38:37
Barter is the money of peasants. Debt, no matter how you slice it
38:41
or dice it, is the currency of slaves.
38:43
You're indebted to someone, right?
38:46
Indentured servitude, however you want to say it.
38:49
All right, We got more debt than ever before.
38:52
As one of the biggest banks in the country warns of a weakening
38:56
U.S. consumer. I'd say he more than warned.
38:58
According to the report from the New York Fed, US credit card
39:03
debt just hit a record one point.
39:06
Whatever trillion dollars on the whole, Americans have more
39:11
student loan, mortgage, credit card and home equity revolving
39:15
debt right now than any other time in history since the Fed.
39:23
Quote, this is from the Federal Reserve, You know, they're those
39:27
those highly respected economist at the Fed said, quote
39:31
aggregate, which means total household debt balances
39:35
increased by 109 billion in the second quarter of 2024, a .6%
39:42
rise from Q1. Balance is now standard 17.8
39:46
trillion. That's the total debt, $18
39:49
trillion and it increased by this is where it's crazy and I
39:53
got the right comment. It increased by 3.7 trillion
39:57
since the end of 2019, just before the C19 recession.
40:01
Guys, that's a 25% increase in debt in five years on average.
40:08
In this country, we are in a debt bubble right now.
40:13
See if I can get this hold on here.
40:14
This this is a graph that shows total debt balance and its
40:18
composition. As you can see the oranges
40:21
mortgage, the purple above that is home equity.
40:24
And then you have auto loans and green credit cards and blue
40:28
student loan and red and other. But the important thing to look
40:32
at on this is right, but that's 2003, 4-5.
40:39
This goes back, wow, this goes back 20 years.
40:43
Look at the debt. Do you see this here?
40:46
Let me draw a line on there for you.
40:47
We'll do a little coloring today, basement dwellers.
40:51
OK, this, this is the same trend.
40:55
That's a channel, madra channel. That's the debt channel in the
41:01
United States. It's kind of like when you look
41:04
at the silver price and gold price just continues to go up
41:07
and up and up, right? Well, same thing with total
41:09
debt. Let's go down here to what
41:16
consumers also appear to be experiencing.
41:18
We are a consumer based economy. Our economy is based on paper,
41:22
right? Unicorn fart does dollars and
41:25
it's a consumer based economy. It's based on debt, right?
41:29
But what's going on? How can the consumer be slowing
41:31
down if that's going up? Consumers also appear to be
41:34
experiencing a slow down amid the higher debt loads.
41:37
How can debt be going up but consumers going down?
41:41
What about Lowe's and Home Depot?
41:43
We're going to talk about that next.
41:44
We've got shocking news coming out there.
41:47
In an interview with Fox Business, Bank of America CEO
41:51
John Moynihan says the banks this is this is key.
41:55
The banks consumer base is currently spending at half the
42:00
rate they were last year, a sign of a depleting consumer, half
42:08
the rate depleting consumer. Here's a quote.
42:11
Well in our consumer base they have 60 million customers, OK,
42:15
this is the so they know what's going on.
42:17
That's like 20% of the US population consumer base of 60
42:23
million consumers spending every week.
42:25
What you're seeing is they're spending at a rate of growth of
42:29
this year over last year for July and August so far, about
42:33
3%. That is half, half the rate it
42:37
was last year at this time. And so the consumer has slowed
42:42
down. They have money in their
42:44
accounts, but they're depleting it a little bit.
42:49
They're employed for now, although the Bureau of Labor and
42:53
Statistics, Oh no, Nope, they can't.
43:00
I'm sorry, guys. Bear with me.
43:04
That happens from time to time. OK, here we go.
43:10
Sorry. Now you can see it.
43:11
I believe this happens every once in a while.
43:14
I apologize. I hit the wrong button.
43:16
OK, But you can hear it all. There's proof, OK, That is half
43:21
the rate. They have money in their
43:22
accounts, but they're depleting it little by little.
43:24
They're employed, they're earning money.
43:26
But if you look at they've they've really slowed down.
43:30
The consumer is slowing down South.
43:32
The Fed is in a position they have to be careful.
43:35
This is the CEO, John Moynihan of Bank of America.
43:39
There's warning the Fed that they're in a position they have
43:42
to be careful, that they don't slow down too much.
43:45
Right now, where they are spending at, where they are
43:50
spending is spending at is consistent.
43:54
Where they spent in 2017. I slaughtered that one.
43:59
I think what they're saying he's saying his spending's about
44:01
right now at the levels it was in 2017, 2018 or 2019, a lower
44:07
inflation on or a more normal growth economy.
44:10
So, wow, I apologize, I had you guys on the wrong page during
44:15
that, but the CEO of Bank of America's the economy is headed
44:21
for doom. OK?
44:22
We looked at the US debt clock. We know how screwed up the
44:25
overall financial condition is. We know that neither political
44:29
party is willing even to mention it or address it.
44:32
I didn't hear it mentioned last night at the Democratic National
44:35
Convention. OK, so we know we're in big
44:38
trouble. We know we're headed towards a
44:40
Cliff. We know the smartest economist
44:43
in the room, the richest people in the country are warning
44:47
against this. We know how the Fed will react
44:50
because it's the only thing, the only thing that they'll be able
44:54
to do right? And that is the only thing they
44:57
always do, print money. We know that that will send the
45:00
price of gold and silver higher. What are we hearing now that
45:04
makes it even more clear, even more clear that we're headed
45:08
towards what could be right here.
45:11
Breaking news this morning. We know what happened with Home
45:14
Depot. Lowe's sees sales drop, cuts
45:18
2024 outlook as consumers put off home improvement projects.
45:24
And Lowe's is huge, right? And it's just not home
45:26
improvement. It's just all kinds of stuff.
45:29
It's like a almost like a department store when you go in
45:31
there. OK, here, same store sales, a
45:35
key measure of retailer performance, fell 5%.
45:40
That's big, more than the expected 4.4%.
45:43
The company called out continued pressure in a do it yourself
45:47
bigger ticket projects and poor weather impacting seasonal and
45:51
outdoor sales. The result was worse than the
45:54
3.3% decline with that rival Home Depot had announced.
45:59
OK, let's talk about a viewer comment, right?
46:04
Like I told you guys earlier, your comments matter.
46:07
Your thoughts matter, right? Together, we learn from each
46:09
other. Here was a comment that came
46:11
through that I thought is something that we need to talk
46:16
about. Here we go.
46:19
There we go. All right, this came from oh,
46:23
oh, Hola, Clive, He said after Ukraine's incursion into Russian
46:29
territory, Putin's option of putting the ruble on a gold
46:34
standard must be a real possibility.
46:37
Coming out of left field, a financial shock.
46:39
Let's remember something, basement dwellers.
46:43
You may have forgot this because I did.
46:45
I just actually just remembered this now as I'm reading this.
46:48
Early on in the Russia Ukraine war, they did basically, Putin
46:54
did basically back the ruble with gold.
46:57
It was brief. I think it was like maybe a
46:59
month, but they absolutely did. So the prospect of this
47:04
happening again is not out of the question, right?
47:08
And this is major what is going on right now?
47:12
We aren't hearing about it a lot, but the Russian homeland
47:16
has been invaded by the Ukrainians, right?
47:19
I'm not making political statements.
47:21
I'm, I'm just reporting the news that Ukraine has invaded Russian
47:26
territory unthinkable three years ago, right?
47:31
And the reaction right by, by the Kremlin and by Russia, who
47:36
knows how they'll react to this. Putting the the ruble back on
47:39
the gold standard is not out of the question.
47:42
I'm not predicting it, but it's not out of the question.
47:46
They did it during the early days.
47:49
To me, this just all seems weird.
47:51
Does it seem weird to you that like supposedly Russia was
47:56
winning lately basically in the Ukrainian war and then as
48:00
Ukraine is, you know, losing territory, they make this major
48:05
push into Russia. It's very, very scary.
48:09
I we are not in favor of war. It's uncertainty like we talked
48:13
about earlier. That's what the Citibank analyst
48:16
who's calling for $3000 gold said.
48:19
Right. Uncertainty is at a peak right
48:22
now, but it's not getting less uncertain.
48:24
We're sitting here, think about this.
48:27
I don't want to scare you or scare me, but we're sitting here
48:31
waiting for a potential major attack by Iran on Israel.
48:39
I hope none of this happens, but it's just the reality of what's
48:43
going on. At the same time, we have
48:46
Ukrainian Western backed, NATO backed troops that have gone
48:51
into Russia and pretty significantly, we have these two
48:56
major events. I mean, you talk about
48:58
uncertainty, geopolitical strife, you know, I mean, it is
49:03
just absolutely crazy. So, so So what this comment
49:06
says, hey, this is not out of the realm of possibilities,
49:10
guys. Absolutely not out of the realm
49:13
of possibilities. Hey, thank you for joining me
49:15
today, guys. I want you to have a good day.
49:18
Be good to yourself. These will be rocky waters.
49:21
It's a big deal when you come here.
49:22
If you haven't subscribed, please do.
49:24
We're going for 40,000. I want you to be part of that.
49:28
Thanks for the thumbs up. OK?
49:30
Please support our channel sponsors.
49:32
We have First Mining Gold with the recently unblindfolded $2500
49:37
gold bear. They're Canadian gold
49:39
development company. You can learn more about them at
49:41
their website, which is in the description of this video along
49:45
with a link to the description. I'm sorry, the website for
49:49
Fortuna Mining. They are a gold mining company
49:54
producing gold and silver right now, Argentina, Mexico, Peru,
49:59
and then in West Africa, we have mines in Burkina Faso and the
50:04
Ivory Coast in an exciting exploration stage project in
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Senegal. Have a great day.
50:11
OK, thank you. Thank you to all the moderators.
50:14
Thanks to everybody. Thanks to Susie, and I'll see
50:16
you guys soon. Bye bye.