Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / I Warned YOU! 💥💥 These 2024 EVENTS to SHOCK -- (Silver Price and Gold Price)

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I Warned YOU! 💥💥 These 2024 EVENTS to SHOCK -- (Silver Price and Gold Price) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  Ever get that feeling that something big is going to
• 0:04
  happen? That uneasy feeling that, you
• 0:06
  know, some type of potential catastrophe is right around the
• 0:10
  corner? You're not alone.
• 0:12
  There's a lot of us that are feeling that way.
• 0:14
  And today we're going to talk about the reasons why you are
• 0:18
  likely feeling that way. But first, big major news.
• 0:23
  The world's most prestigious bank is saying that we can have
• 0:27
  $2900 gold. Every day we turn around, we're
• 0:31
  hearing how the gold price can go higher and higher.
• 0:35
  But this comes from no one else but Goldman Sachs.
• 0:39
  And this is a big deal. But what's even more important
• 0:42
  are the reasons why they say that we can have $2900 gold by
• 0:48
  early 2025. Let us rejoice, basement
• 0:53
  dwellers. Don't forget we will hit bumps
• 0:56
  in the road. That's part of a bull market.
• 0:58
  We will not go straight up and don't you worry.
• 1:01
  I see you and don't you worry even less because we will go
• 1:06
  check on the gold and silver price here in just a few
• 1:09
  minutes. But it's a big deal you're here.
• 1:11
  Please subscribe to the channel if you haven't already.
• 1:14
  We're really on a drive to get some more subscribers, some more
• 1:17
  members here in the basement. Thumbs up are always appreciated
• 1:21
  and super chat, super thanks go a long way to help support the
• 1:24
  channel. Let's go see what gold Goldman
• 1:26
  Sachs is saying about the gold price.
• 1:29
  But even more important, what we want to look at is why.
• 1:34
  What are the reasons why Goldman Sachs raises the gold price
• 1:39
  target to $2900 by early 2025? This comes from Kitco in our
• 1:48
  friend Ernest Hoffman. He puts out some great literary
• 1:51
  pieces, including this one. And I know you're looking at
• 1:54
  this right now in your basement, a big pile of gold bars.
• 2:02
  Goldman announced on Monday that it's raised its gold price
• 2:05
  forecast by $200 per oz from 2700 to 2900 by early 2025.
• 2:13
  Number one, that's a big, big rise.
• 2:16
  And that's almost what, an 8% increase in their estimate for
• 2:20
  what we're going to see in 2025. There must be something big
• 2:25
  going on. And they're going to give us
• 2:27
  their reasons here. They say we reiterate our long
• 2:30
  gold recommendation. That means buy gold, long gold
• 2:33
  due to the gradual boost from lower global interest rates.
• 2:38
  Check structural, higher central bank demand.
• 2:41
  Oh, really? That's interesting.
• 2:43
  We'll talk about that. Check and gold's hedging
• 2:46
  benefits against geopolitical, financial and recessionary risk,
• 2:50
  the bank said in a note. Let me look at you for a second.
• 2:53
  Basement dwellers, this is Goldman Sachs.
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  They are the Creme de la Creme, right?
• 3:01
  Ivy League educated, the smartest guys in the room.
• 3:05
  Now, a word of caution there are, there is or are there are
• 3:10
  people, there is a group of people who say that you don't
• 3:14
  trust Goldman Sachs, You always do opposite of what they say.
• 3:18
  But I think they're telling the truth.
• 3:20
  Sometimes they do right. And I think they're laying out
• 3:23
  some really great reasons why the precious metals are a smart
• 3:28
  place to be right now. And wait till you hear about,
• 3:31
  right, the reasons why you're feeling so uneasy about the
• 3:34
  world. We're going to get to that next.
• 3:36
  I just want to get through this Goldman Sachs article.
• 3:41
  Let's go down here. We'll skip that.
• 3:43
  The blue. The analyst said that quote,
• 3:47
  moderating but still significant central bank purchases on the
• 3:51
  London OTC market would be responsible for about 2/3 of
• 3:56
  their expected rise to $2900 per oz in early 2025.
• 4:02
  I got a spill the beans for you guys.
• 4:04
  The official quote UN quote official, right?
• 4:08
  Remember that official numbers coming from central banks have
• 4:12
  been, have been in terms of gold purchases have been pulling back
• 4:15
  a little bit. Last I saw, we still were net
• 4:19
  positive, but the official numbers are showing that the net
• 4:24
  purchases when you when you take what they bought minus what the
• 4:27
  central bank sold are pulling back just a little bit.
• 4:31
  But in orange with a gradual increase in exchange traded fund
• 4:39
  flows following Fed rate cuts driving the remaining 1/3 of
• 4:43
  gold's price upside. That would be your neighbors.
• 4:46
  That would be the sheeple, right, Coming to the gold and
• 4:51
  silver party. And that happens, excuse me,
• 4:58
  that happens on average one month after the Fed starts
• 5:02
  lowering rates. They say in red.
• 5:04
  This is a significant upgrade for the yellow metal, as less
• 5:08
  than one month ago, Goldman pushed their earlier $2700 price
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  forecast to Q 12025 from Q4 of 2024.
• 5:19
  So this is a big change. Just a month ago they were
• 5:22
  saying $2700 gold and now they're saying $2900 gold in the
• 5:28
  first quarter of 2025. They said quote and yellow gold
• 5:33
  stands out as the commodity where we have the highest
• 5:37
  confidence in near term upside. I hope that makes you smile.
• 5:44
  Mic drop in green OK but first the analyst said that quote
• 5:51
  believe that the tripling and central bank purchases since mid
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  2002 1022 on fears about U.S. financial sanctions and
• 5:59
  sovereign debt is structural and will continue reported or wow I
• 6:06
  can't believe Can you believe Goldman Sachs is saying this
• 6:09
  unreported don't tell anybody OK my fellow basement dwellers gold
• 6:15
  and silver enthusiast and by the way I do appreciate that you're
• 6:18
  down here in the basement with me today but let's keep our
• 6:21
  voices down because we don't want anybody to know that they
• 6:24
  have the official numbers that the central banks buy but hint
• 6:28
  hint there's also some unreported purchases by the
• 6:32
  central banks. Do you think they're really
• 6:34
  going to tell everybody they're going to Telegraph and say this
• 6:37
  is exactly what we did? The numbers that people propose
• 6:43
  coming out of China can be astounding in terms of what
• 6:45
  their central bank is actually, do you think if they're look,
• 6:49
  think about it, think about it, hold on here, Let me look you in
• 6:52
  the eye. You need to let's we need to
• 6:58
  think about this. If you're going to buy something
• 7:01
  and you're going to buy a lot of it, right, you want to get the
• 7:04
  best price. So you don't want to Telegraph
• 7:06
  to the world that you're going to buy it, right?
• 7:10
  If you go look at A at a car, at a car lot, you don't want to
• 7:13
  tell the salesman, I'm in love with this car.
• 7:15
  I just, there's nothing I can do.
• 7:17
  I, I need no, you want to act like you're not interested.
• 7:20
  Let them then push, right? And that's the same thing with
• 7:23
  the central banks buying gold. They're not going to run around
• 7:26
  saying, hey, we're going to buy zillions of Oz of gold.
• 7:31
  No, because then they would be what's called front run.
• 7:34
  People like you and me would say, well, if the central Bank
• 7:37
  of China is going to buy us all this silver, all this gold,
• 7:41
  well, I'm going to get in front of it.
• 7:42
  I'm going to get mine first. It's called front running.
• 7:45
  So yes, the central banks are buying way more.
• 7:48
  I mean, wait, very likely more gold and maybe silver.
• 7:54
  Don't tell anybody about that, right?
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  Then what? They are reported reporting in
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  yellow. Second.
• 8:01
  These are the reasons, OK? They said imminent Fed rate cuts
• 8:04
  are poised to bring Western capital, the sheeple, back into
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  the gold market, a component largely absent of the sharp gold
• 8:17
  rally observed in the last two years.
• 8:19
  I got to look you back in the eye, right?
• 8:22
  Western, Western Capital, your neighbors, the sheeple.
• 8:28
  I won't make the sheep noise again.
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  We don't need a lot of them. We don't want a lot of them.
• 8:33
  Look, we got 400 people down here right now in the basement.
• 8:36
  There's only so much room, right?
• 8:39
  In the gold and silver club, right?
• 8:41
  When they all show up, when they're all banging on the door
• 8:45
  wanting their gold and silver, wanting to come down here in the
• 8:47
  basement with us no more. There won't be right there.
• 8:51
  Silver. Remember what happened during
• 8:54
  the little banking crisis 17 1/2 months ago?
• 8:58
  You couldn't get silver. It was bye, bye.
• 9:01
  It was gone, right guys? It's almost time to put boots on
• 9:06
  the warehouse floor. Do you appreciate that saying?
• 9:09
  I think that's one of the best sayings ever because that's what
• 9:12
  silver and gold investors are doing right now, putting boots
• 9:17
  on the warehouse floor. Time to make some feathers fly,
• 9:21
  OK and and when that happens, right, the price will shoot
• 9:26
  higher, no doubt about it, right?
• 9:28
  When the Western investor like Goldman Sachs, this Goldman
• 9:32
  Sachs. OK, nothing against Goldman
• 9:34
  Sachs. They're a little pretentious,
• 9:37
  probably in my book, but none the less, when the Western
• 9:44
  investor comes back to the gold and silver party, right?
• 9:48
  When they want to be part of our club, yes, Our club, yes.
• 9:51
  When you're here, you're a basement dweller, you're a part
• 9:54
  of the club, right? Men and women carrying around
• 9:57
  those big wooden clubs on our shoulder, silver and gold, right
• 10:01
  When those people want to join us, there's no more room.
• 10:05
  I will lock the basement door no more.
• 10:08
  And you're going to be very sassified that you have the
• 10:12
  gold, that you have the silver, that you have the precious metal
• 10:16
  mining stocks that you have right now.
• 10:19
  You're going to feel warm and fuzzy.
• 10:21
  Now, I could be wrong. I'm.
• 10:23
  Yeah, I'm wrong. I'm real confident about this.
• 10:27
  I believe it and no in my heart that it's going to happen, but I
• 10:32
  could be wrong. So don't make any financial
• 10:34
  decisions based upon anything I'm saying.
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  This is just entertainment, OK? Entertainment that happens to be
• 10:41
  right most of the time. But Goldman Sachs has even more,
• 10:48
  even more reasons why Gold 29. Let me ask you, would you be
• 10:53
  satisfied with gold at 3000 twenty, $900 in early 2025?
• 10:59
  I would, would you? What are we at right now?
• 11:04
  You know what? Let's go look.
• 11:05
  And then we're going to get to the last reason by Goldman
• 11:07
  Sachs. And then we're going to talk
• 11:08
  about why the why the sky is falling and we are in a doomsday
• 11:13
  scenario. OK, it's going to happen.
• 11:15
  So you remember 2024, it could happen, but let's go take a
• 11:21
  look. Let's bite the bullet here.
• 11:23
  It has not been a good day in the precious metals market.
• 11:26
  Here we are at Pinbacks. Earlier, just a little bit
• 11:29
  earlier, silver was up $0.50. And then when I pulled this up,
• 11:33
  this is not the updated number. I'm going to press with my
• 11:35
  yellow finger, the magic button, the little golden triangle there
• 11:39
  on the Pembex logo. And OK, OK, why does this happen
• 11:45
  every time we're together, basement dwellers, when we're
• 11:48
  here live. Silver now up $0.33, Gold only
• 11:51
  down $14.51. If you want to support Rons
• 11:56
  basement. If you want to help support our
• 11:58
  club, Pymbex supports our channel.
• 12:01
  I couldn't do this without the support from our sponsors,
• 12:04
  including Pymbex. But I feel so great about being
• 12:08
  sponsored by Pembex because there was a time when I wasn't
• 12:12
  sponsored by Pembex, but I was. I was just a regular basement
• 12:17
  dweller like I am now. And I decided to check out
• 12:20
  Pembex. Did some research on the
• 12:22
  company, looked at their prices and I was like, is that right?
• 12:25
  Right. Ultra competitive prices.
• 12:28
  Read about the company. I felt like it was a company I
• 12:30
  could trust. I would give them a shot.
• 12:32
  I did and now I don't know 5 or 6 or 7 orders later and being
• 12:38
  sponsored by them. I feel so good about this
• 12:40
  company. If you want to get your hands on
• 12:42
  some silver, gold or platinum group metals, if you want a
• 12:44
  company you can trust, if you want great selection, if you
• 12:46
  want unbeatable prices or ultra competitive prices and you want
• 12:52
  to support Ron's basement, please check out pin backs.
• 12:54
  And please, please, I plead with you on this.
• 12:59
  This is all joking aside, this is serious business.
• 13:03
  If you ever or anyone you care about or don't care about
• 13:08
  decides to convert part or all of the IRA into precious metals,
• 13:13
  take your time, no rush. Don't let anybody pressure you
• 13:17
  into anything. Talk to a number of different
• 13:20
  options and please, please just consider following the guise of
• 13:25
  Pmbecs, seeing what they can do for you.
• 13:27
  And at the end of the day, no matter what you decide, I want
• 13:30
  you to do one thing. Compare how many ounces of metal
• 13:34
  you get from all your different. Just compare how many ounces of
• 13:37
  silver, how many ounces of gold you're going to get from all
• 13:40
  those different options. That's all I'm gonna say.
• 13:42
  Well, we got to go back to Goldman Sachs.
• 13:43
  I have drugged this out. I apologize basement dwellers,
• 13:46
  but there's one final reason why Goldman Sachs says gold, right?
• 13:52
  Think about it right, What's the 1st 4 letters and Goldman Sachs
• 13:56
  gold is going to $2900? Finally, the analyst said that
• 14:04
  gold quote offers significant hedging value to portfolios
• 14:09
  against geopolitical shocks including terrorists, Fed sub
• 14:14
  subordination risk. I have no idea what that means.
• 14:19
  Somebody send me an e-mail. Fed subordination risk.
• 14:23
  OK. And debt fears.
• 14:25
  Thank you, Goldman Sachs. We love you.
• 14:27
  You're the best. And we hope that your your your,
• 14:31
  your prediction comes true. But let's just talk about this.
• 14:34
  Why is the sky? Do you feel like the sky is
• 14:37
  falling? I do.
• 14:39
  OK. I'm sorry.
• 14:39
  I definitely could be wrong, but I think there's like a 64%
• 14:43
  chance the sky is falling and and we're going to talk about
• 14:48
  the reasons why you may be feeling that way and the reasons
• 14:53
  why gold and silver are the smartest insurance policy for
• 14:59
  these uncertain times that you could ever ask for.
• 15:02
  OK, It says here, remember the analyst said hedging value.
• 15:07
  That means insurance value against geopolitical shocks,
• 15:10
  tariffs, whatever Fed subordination is and debt fear.
• 15:13
  So let me look you in the eye. You are not alone.
• 15:17
  You are not alone. There's a lot of other very
• 15:20
  smart people just like you who are very concerned right now
• 15:26
  with what's going on in the world.
• 15:27
  We're going to quickly go through a number of things that
• 15:29
  are happening. They have saved the 2024 crazies
• 15:35
  for the last quarter and now we are the second day into the last
• 15:38
  quarter just as we're talking about these big events that are
• 15:43
  occurring right now in our lifetimes.
• 15:46
  OK, think about how crazy all this would have sounded to you.
• 15:52
  I couldn't have even five years ago sat down here with you and
• 15:57
  even thought about proposing that we would be in the
• 16:01
  situation that we are in right now today.
• 16:07
  It's very scary in my opinion. So let's start.
• 16:11
  OK, let's start. Let's start with the port
• 16:13
  strike. This is a big, massive deal that
• 16:16
  is not getting the attention that it deserves.
• 16:20
  We've got an article from Reuters here and it says that US
• 16:24
  port worker of the union is now being backed by I hate that when
• 16:30
  those pop up things come by the White House.
• 16:32
  OK, there is our president no comment.
• 16:37
  Biden is pressing the port employers to offer a strong and
• 16:41
  fair contract. I think these port worker guys
• 16:43
  make like on average 150,000 a year.
• 16:46
  Look, I was in the steel Workers Union.
• 16:48
  This is not a statement pro or con union.
• 16:52
  But the fact is these guys are making 150 KA year from what I
• 16:56
  read, plus really great benefits as well.
• 16:59
  The strike had shipments of everything from food to autos.
• 17:03
  This is a big deal guys. And we're going to talk about
• 17:05
  medicine, medicine, medications. This could be a, this could turn
• 17:11
  into a very critical situation. Union walks out over pay and
• 17:16
  port automation projects. Biden has team to monitor for
• 17:20
  price gouging. OK, it's now entered its second
• 17:23
  day. Why is that a big deal?
• 17:27
  Because each one day that the ports are shut down, for each
• 17:30
  one day, it takes one week to clear the backup created for
• 17:36
  each one day. So now we're going to do some
• 17:39
  crazy fancy math. The port's been closed for two
• 17:42
  days. That means even if they open the
• 17:45
  port today, all these shipments are going to be behind by two
• 17:51
  weeks. If this thing stretches out to
• 17:55
  who knows right 10 days right. That would be why am I not able?
• 18:01
  That'd be 710 weeks 2 1/2 months, you know weeks, months
• 18:07
  oz pounds tons. You know I'm anyway 10 days
• 18:11
  would be 10 weeks 2 1/2 months and there's things on these
• 18:17
  ships, food that is spoiling and medicine, OK, medicine.
• 18:22
  This could be huge. This is, I've heard people in
• 18:26
  the know say liking this to what happened to the supply chain in
• 18:29
  our country during the during the health crisis that we had in
• 18:34
  early 2020. This is a big, big deal here.
• 18:39
  Look at this one just to show you one example and reasons why
• 18:44
  this could get so, so critical. Where are we Here, here.
• 18:49
  Hold on, make sure we got you. Yes, OK, I think we're still
• 18:54
  here. We're still alive.
• 18:55
  OK, This is from CNBC Porch Strike fallout Blockbuster
• 19:01
  weight loss drugs supply from We Govi.
• 19:04
  What have they come up with these names?
• 19:06
  I am so sick of these, all these pharmaceuticals.
• 19:10
  And when I do turn on the TV, all I see are ads for
• 19:14
  pharmaceuticals. Why in the world, I'm asking
• 19:18
  you, do pharmaceuticals have to spend so much money on
• 19:22
  advertising? Who do you think pays for that,
• 19:24
  Buttercup? You and me?
• 19:27
  OK, Oh boy, watch out, Watch out.
• 19:29
  If you don't want to hear a rant, go watch Woody Woodpecker
• 19:33
  cartoons. Who do you think pays every time
• 19:36
  you turn on the Children's News Network or Fox or or MSNBS or
• 19:41
  whatever they call them all, you see the guide Ned that has
• 19:45
  plaque psoriasis. I'm done with them.
• 19:48
  OK, who do you think pays for that?
• 19:51
  You do. I do because of higher
• 19:55
  pharmaceutical costs. Now let me ask you this
• 19:58
  question. Why in on earth, why on earth do
• 20:02
  pharmaceuticals have to advertise?
• 20:04
  Wouldn't you think that the doctors that specialize in
• 20:09
  plaque psoriasis would know about?
• 20:11
  Ozempka or whatever the heck they're called.
• 20:13
  I hate the names they come up with.
• 20:15
  And that when Ned came in with plaque psoriasis that the doctor
• 20:19
  would say, Ned, I'm gonna put you on this drug called Ozempka.
• 20:22
  Ned doesn't need to know about it.
• 20:24
  That's outside of Neds wheelhouse.
• 20:27
  All these drugs. It's all they want.
• 20:29
  They want to brainwash you with showing these happy family
• 20:32
  pictures and picnics. They're always in somebody's
• 20:35
  backyard with lights strung up and somebody's barbecuing,
• 20:38
  right. So you think, boy, if I take
• 20:40
  Bubaca lock or whatever the name of the drug is, I'll be happy
• 20:44
  like the guy in the picture. I'm sorry, this was supposed to
• 20:47
  be about the about the about the where am I here here we go All
• 20:54
  right, port strike about the port strike because it could
• 20:57
  cripple our economy. I'm sorry I went off every once
• 21:00
  in a while. I need to vent.
• 21:01
  I also could do a big vent about car insurance advertising
• 21:05
  insurance in general, but I won't We're going to stick to
• 21:07
  this right now The port strike. It could be a major issue.
• 21:12
  It's going to apply right now. The right now people that are
• 21:15
  trying to lose weight with we Gavi, Ozemka, Munjara, Zipbound
• 21:23
  are caught up in East Coast and I'm I'm all for people losing
• 21:25
  weight. That's it's just ridiculous.
• 21:27
  So those drugs are caught up. Look guys, here's the fact.
• 21:32
  Here's a fact. A lot of the medicine and drugs
• 21:35
  is made in countries like India, China.
• 21:38
  OK, so when's it going to be my blood pressure medicine?
• 21:41
  You know, if I don't have my blood pressure medicine, I might
• 21:44
  really go crazy. OK.
• 21:46
  I mean, and, and, and, and for any of us that are on
• 21:48
  medications, I'm not trying to stir up panic or anything else,
• 21:53
  but some of these drugs are made overseas.
• 21:57
  And it could create like a real situation in the United States
• 22:00
  at minimum, if it gets stretched out for any amount of time.
• 22:04
  Aren't we moving, moving quickly right now into the holiday spine
• 22:09
  season? So it's a big, big mess, OK.
• 22:12
  It's a massive mess. The port of Norfolk in Virginia
• 22:17
  in particular, one of the key East Coast ports where the
• 22:20
  longshoremen walked off the job Tuesday, is critical to both
• 22:23
  companies drug supplies. OK, that's what I was thinking
• 22:28
  too. So again, let's let's get back
• 22:31
  to this. If it really becomes a critical
• 22:34
  medical situation where these drugs are stuck on container
• 22:37
  ships, they can fly the stuff in with aeroplanes.
• 22:40
  I'm glad they said that because I thought that this morning I
• 22:43
  was worried about us basement dwellers.
• 22:45
  If we don't have our meds, you know, we know one thing for
• 22:50
  sure, the price of silver, it needs its meds.
• 22:54
  Because I am the silver psychiatrist and silver is a
• 22:58
  schizophrenic medal, right? Part do multiple personalities,
• 23:04
  part monetary, part industrial, and I've diagnosed it with
• 23:08
  bipolar disorder. It is prone to crazy mood
• 23:11
  swings. Today we want to see a mood
• 23:13
  strength to the up mood swing. Let's go take a look quickly.
• 23:16
  Let's do an update. And then we got a lot more to
• 23:18
  talk about. Yes, 3179 and 3178.
• 23:24
  So man, OK, so we're doing OK. This is big, guys.
• 23:28
  It's a massive deal and I'm going to explain to you the
• 23:31
  reasons why that the silver price stay above $30 per oz.
• 23:36
  I spoke with John Lee, the CEO of Silver Elephant Mining
• 23:40
  yesterday, but he's also like a chartered financial analyst.
• 23:43
  He follows the silver market closely, obviously as the CEO of
• 23:48
  a silver. And he was even saying it.
• 23:50
  He was like, we got to get through that 3250 range.
• 23:54
  And when we do right, when we get through it and either we've
• 23:58
  had a double top, triple top, I don't know, whatever you want to
• 24:01
  call it, all I know is we banged up, banged up, banged up.
• 24:07
  The reason why we need to get through there is because there
• 24:10
  is very little overhead resistance above 32, fifty, $32
• 24:16
  silver. Now, now what that means is when
• 24:19
  that price gets up there, when we get 3334, I firmly believe
• 24:25
  you're going to wake up. You're going to go to Betty
• 24:27
  boom, boom time one night, right, with your little, with
• 24:30
  our PJS and our sleeping caps on.
• 24:32
  And I got to hook up one of those air compressor C pap
• 24:35
  machines to myself every night. And we're going to be looking
• 24:38
  and say, OK, yeah, you know, silver's doing good.
• 24:41
  It's at 3435 and it's going to be like in the flash of an eye
• 24:47
  in an overnight sleep, I believe.
• 24:50
  Then we're going to get the $4448 silver.
• 24:53
  And I mean super quickly. And it's not just me that says
• 24:58
  these guys that read the charts, right?
• 25:01
  Very smart people that have dedicated themselves staring at
• 25:05
  charts. Good for them.
• 25:07
  And I look at them a little bit. I try to piece it all together,
• 25:10
  man, I listen to you, right? That's why it's important you
• 25:12
  leave comments in the comments section because I've learned so
• 25:16
  much from you, right? I read what the gurus say, the
• 25:19
  fundamentals, and we look at the charts and when we add it all
• 25:23
  together in this basement alphabet soup that we have, us
• 25:28
  basement dwellers. I'm telling you, baby, $34
• 25:32
  silver is a common and you're going to wake up then, you know,
• 25:36
  a day or two later and be like, wow, silver really moved.
• 25:41
  They're going to be shutting down the Comex because they have
• 25:45
  circuit Breakers. Somebody emailed me and said,
• 25:48
  oh, you're wrong. I think it's there's like a
• 25:50
  $12.00 Max move per day. I need to look that up.
• 25:53
  I apologize. I'm speaking, don't take what
• 25:56
  I'm saying there is gospel, but I'm pretty sure it's like a
• 25:58
  $12.00 Max move. But there's other circuit
• 26:01
  Breakers that can go on during the course of the day.
• 26:04
  But we're going to have some Max up days in the silver market and
• 26:08
  it's going to be fun. Oh, I forgot, I got off track.
• 26:10
  Why things are crazy, why you're feeling crazy and that will lead
• 26:15
  uncertainty is a big, big reason, right?
• 26:20
  Why we because you are looking at in the future, why we have
• 26:23
  already already invested into silver and gold, but why the
• 26:30
  people will join us. OK, now we talked about the port
• 26:34
  strike, obviously major escalation war right now in the
• 26:41
  Middle East. Iran attacks Israel.
• 26:44
  Now everybody's waiting for Israel to attack Iran, OK.
• 26:50
  The United States Navy, from what I understand, assisted
• 26:55
  Iran, Israel in shooting down the whatever 180 missiles.
• 27:00
  Guys, we are, we are in a situation right now,
• 27:05
  uncertainty, war, geopolitical strife and turmoil like none of
• 27:10
  us have ever seen in our lives. When the sheeple wake up and
• 27:14
  realize how nutty it is out there, really nutty, what's
• 27:18
  really going on, they're going to be rushing to the precious
• 27:23
  metals. And for us as a country, this is
• 27:25
  just my opinion. But if we're supplying weapons,
• 27:29
  intelligence technology to Israel, to the Ukraine, right,
• 27:35
  pretty much we're like involved, at minimum very closely involved
• 27:42
  in these wars. And it's a very, very scary
• 27:45
  situation, a very scary time to be alive.
• 27:48
  And, and I don't think that most of our cohorts, right, most of
• 27:52
  our neighbors realize just how tenuous the situation is right
• 27:57
  now. OK, I'm not trying to spread
• 27:59
  fear And, and be, you know, I, I, I don't like war.
• 28:04
  I would really prefer that we all get along and use our
• 28:07
  resources to better the lives of everyone on the planet.
• 28:11
  But I don't run the planet. I kind of run the basement, but
• 28:16
  not really. You're just as much of this as I
• 28:18
  am nonetheless. OK, Port shut down 50% of the
• 28:24
  United States imports. Bye, bye.
• 28:26
  Big deal war in the Middle East and Europe.
• 28:32
  Can you believe we're talking about all this, a presidential
• 28:35
  election that has been, that is, that is contentious.
• 28:39
  And there's vile hatred between the left and the right in this
• 28:44
  country. Socially, politically, we have
• 28:49
  never been in a situation as tenuous as scary.
• 28:53
  I'm dumbfounded by what's going on right now.
• 28:57
  Right? And that all happens here in the
• 28:59
  next 4 weeks. Buckle up, buttercup.
• 29:02
  The fourth quarter of 2024, It could happen.
• 29:08
  It is happening right now. Things could get very, very
• 29:12
  crazy. On top of it all, There's a
• 29:14
  cherry on top this. Those are the reasons why.
• 29:17
  The election, the wars, the porch strike, the but on the
• 29:24
  chair, there's a cherry on top of it, all right?
• 29:28
  So why you're feeling so nutty? And that is the fact that we are
• 29:32
  barreling, right? We are barreling towards what
• 29:36
  could be, right, a financial, a period of financial turmoil in
• 29:41
  this country, right? We are in a Whirlpool of debt,
• 29:45
  right? We're in a debt spiral, whatever
• 29:47
  you want to call it. It is insane.
• 29:49
  And you know what? I got to pull it up, guys.
• 29:51
  We got to look at this because I want your opinion on this.
• 29:55
  To me, I couldn't help but look today. the US national debt is
• 30:00
  content. Doesn't it look like it's going
• 30:02
  up and even a faster pace than when we looked at this
• 30:05
  yesterday? But to me, I'd like, I'm like,
• 30:08
  am I seeing things? But it really seems to have
• 30:11
  accelerated here. Very scary, right?
• 30:14
  Big day when we actually on the US debt clock get to our our 1
• 30:19
  billion, I'm sorry, one trillion, 1 trillion in interest
• 30:24
  expense. Remember, you get nothing that's
• 30:27
  you'll pay that. You're paying that, you and me,
• 30:31
  taxpayers, right? A certain portion.
• 30:34
  Let's say every month we owe $1000 in taxes.
• 30:40
  I don't know. Probably 200 of it goes to
• 30:44
  interest expense. We get nothing, right?
• 30:47
  You get nothing and you like it. It's insane.
• 30:51
  And I can't help but show you guys this.
• 30:53
  I know I lied. I said I wouldn't do it till we
• 30:55
  got to seven. It went up since the last time I
• 30:57
  looked. Jeez, I just looked at this 20
• 31:00
  minutes ago. The dollar to silver ratio
• 31:03
  continues to barrel towards 700. OK, again, that means for each
• 31:09
  one ounce of silver that is, that is, that is mined this
• 31:13
  year, that is generated however you want to look at it for each
• 31:18
  one ounce of silver that the world produces this year, for
• 31:23
  each one ounce, the United States of America, hey, they're
• 31:27
  doing a bang up job. They're going to print or make
• 31:30
  690 dollars, 689 of M2 money supply.
• 31:37
  It is just absolutely sickening. So when you feel sick to your
• 31:41
  stomach as you look at the mess that our leaders have gotten us
• 31:46
  into, they really screwed it up. I'm going to say it nicely.
• 31:51
  We use, we use, we don't use curse words in the basement.
• 31:55
  They really screwed it up. The reasons why you're feeling
• 31:59
  sick, OK? Because half the imports that
• 32:03
  are coming in the United States are at a standstill right now.
• 32:06
  Wars, right? Wars, the election insanity, the
• 32:13
  vile hatred that's going on in our country just internally
• 32:17
  right now. And on top of that, we are like
• 32:20
  doomed for debt. And here, what better.
• 32:22
  What better of an example to prove to us that things are
• 32:26
  screwy out there than our old friends at Nike?
• 32:31
  Because we get this from zero hedge Nike, right?
• 32:36
  Nike like the epitome of an American brand.
• 32:39
  Nike shares slide on biggest sales drop in years.
• 32:46
  They withdraw their guidance. That means they're they're in
• 32:50
  big trouble guys. That means when when a company
• 32:52
  withdraws its guidance, that means.
• 32:55
  Remember at the beginning of the year, we told you we thought we
• 32:57
  were going to sell this much. Well, it's not going so well and
• 33:02
  we don't know how much we're going to sell.
• 33:10
  And and Oh my gosh, oh, there's going to be so many broken
• 33:14
  hearts. They withdrew their investor
• 33:16
  day. Are they postponed their
• 33:18
  investor day? What a joke.
• 33:20
  I mean, that's Nike, right? That's the epitome of America,
• 33:24
  right? And in the news we're getting
• 33:26
  from the corporate world is not good, right?
• 33:29
  the US economy is not in good shape.
• 33:32
  Why do you think right now? I'll give you the big 11, big
• 33:36
  clue, right? And the reason why we need to be
• 33:39
  very suspicious and this is also very good for the precious
• 33:44
  metals prices. Why do you think Jerome Powell
• 33:48
  cut interest rates by 1/2 percent if everything was good
• 33:52
  out there like they say, OK, remember, remember, don't listen
• 33:59
  to what they say. Watch what they do.
• 34:03
  And what they did was cut interest rates.
• 34:05
  If everything was, like they said, hunky Dory, everything's
• 34:10
  wonderful, the economy's strong. What's wrong with you, America?
• 34:15
  Everything's great. Aren't you happy that you get to
• 34:18
  work 4 jobs just to afford a cruddy little house and eat some
• 34:24
  processed food and go to the doctor once a year?
• 34:28
  Everything's great, all right? That's what they tell us.
• 34:32
  But all we got to cut rates not just by 1/4 percent, but by 1/2
• 34:37
  percent tells us what's really going on.
• 34:41
  Go talk to somebody at the at the Dollar 25 store, Right?
• 34:46
  Middle America has been gutted, gutted, gutted.
• 34:50
  Right, Right. Who's benefited?
• 34:53
  Oh, yeah, The people at the very top.
• 34:55
  That's just a pure statistic. I'm not some The people at the
• 35:00
  very top have done great over the last 20 years.
• 35:04
  They're richer than ever. I won't go off on a diatribe,
• 35:08
  but there's one reason why he cut rates by 1/2 percent, and
• 35:13
  it's not because everything's awesome out there.
• 35:16
  The reason is because there is trouble brewing under the
• 35:20
  surface. They are never but reality
• 35:23
  check. Truth bomb.
• 35:25
  I'll say it. Nobody else will say it right?
• 35:28
  They're never going to tell you they have.
• 35:30
  Never in the history of the Fed in the history of the United
• 35:35
  States government if they ever come out and said we're a little
• 35:40
  concerned about the economy where they say that
• 35:43
  retroactively, OK, it's it's like if if your if your bank is
• 35:49
  having trouble, I use this example.
• 35:51
  I know, but it's so it that this is critical.
• 35:55
  It's the reason why, right? Why there's this disconnect
• 35:59
  between what you're feeling and what the reality is in the
• 36:03
  world. It's because they lie to you,
• 36:05
  OK? It's like your bank.
• 36:08
  If your bank is in financial trouble, if my bank right up the
• 36:12
  street, I can walk there. If I walk there right now and I
• 36:14
  go and they all, I know them all.
• 36:16
  They're wonderful people. It's great to know all these
• 36:18
  people, right? The people that work at the
• 36:20
  McDonald's by your. Anyway, I digress.
• 36:23
  And I love them. But even though they love me, if
• 36:25
  that bank's in trouble, they aren't, there's not going to be
• 36:29
  a sign at the door, right, that says, oh, you know, we've lost a
• 36:34
  lot of money on our commercial real estate loans.
• 36:37
  And really for all the money that we were supposed to have,
• 36:39
  we only have 60% of it. No, it's not going to be the
• 36:43
  case. They're the teller's not going
• 36:46
  to the Fed is not going to tell you, OK, the Treasury
• 36:49
  Department, the president, anybody is not going to tell you
• 36:53
  how bad things are until after the fact and things are bad.
• 36:57
  That's why you're feeling a little bit crazy right now.
• 37:01
  What about III? Hey, let me say thank you
• 37:05
  quickly. The channel sponsor, First
• 37:07
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• 37:10
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• 37:37
  I love the CEO, the managers who I've met from the company, they
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  deliver. They deliver the goods, OK.
• 37:44
  They'll be really excited to hear and see what their
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• 37:49
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• 37:53
  Let's go to India. It's unbelievable.
• 37:57
  I won't go into my India's the precious metals, but it is and
• 38:01
  India's the precious metals capital of the world.
• 38:03
  Sorry, sorry, Charlie man, there's so much more to talk
• 38:07
  about. But then we'll just we'll
• 38:09
  briefly talk about this. The mad dash in India to buy
• 38:15
  gold. And what about silver we talked
• 38:18
  about yesterday? I mean, you know, India's
• 38:21
  imported like a third of the world's production of silver so
• 38:25
  far this year. I don't think India mines almost
• 38:28
  0 silver domestically. They've purchased like, I don't
• 38:33
  know, like 1/4 a third of the world silver and gold, you know,
• 38:37
  they're not so about it. They lowered the tariffs and
• 38:41
  they have their festive and wedding seasons approaching.
• 38:44
  There's expected to be a mad dash for gold in India this
• 38:49
  year. This comes from the Nikkei.
• 38:51
  OK, This is not from India. There's a certain they're
• 38:54
  officially the world's second largest gold consumer after
• 38:57
  China. Their festival and wedding
• 39:00
  season begins Thursday day leading up to Diwali on November
• 39:04
  1st. During this auspicious period,
• 39:07
  gold purchases surge as it symbolizes luck and financial
• 39:10
  security. Gold is also a popular gift for
• 39:14
  brides and families during weddings.
• 39:18
  OK, unbelievable. I mean they're talking about.
• 39:20
  Look at that. Hello India.
• 39:24
  So Indian women buy gold jewelry because they like the way it
• 39:28
  looks. They buy it as an investment.
• 39:30
  And from what I've been told, it's like the only thing they
• 39:32
  get to keep if they get divorced from their husbands.
• 39:35
  I cannot corroborate that, but that's what I heard and I
• 39:37
  thought it was very interesting. OK, so they cut the taxes and
• 39:42
  then what else this article says, which is interesting.
• 39:44
  They're talking to the to the big gold dealers in India and
• 39:48
  guess what they're saying, I'm sorry, I meant the big jewelry
• 39:55
  sellers because jewelry is a massive thing in India.
• 39:58
  And what they're saying is people that put stuff on
• 40:02
  whatever they call it in II's version of layaway are now
• 40:06
  coming in and saying, I want to buy it.
• 40:08
  I want it now because they're worried about gold pretty much
• 40:12
  disappearing in India. So it's a very, very interesting
• 40:16
  development going on right now. Guys, the system is fragile.
• 40:22
  There's no other way to describe what is going on in our
• 40:26
  financial system. The fiscal situation in the
• 40:29
  United States is absolutely fragile and delicate.
• 40:34
  OK, I don't like it. You're probably like me, like
• 40:37
  I'm a person who likes. I always spend less than I make,
• 40:41
  or I always have throughout my entire life.
• 40:43
  Our leaders have put us in a situation where the Federal
• 40:46
  Reserve will soon. My prediction, and I feel very
• 40:51
  strongly about this at some point in the coming quarters
• 40:56
  that at the longest, I would say the next two to three years, the
• 41:00
  Federal Reserve is going to have no option but to print money.
• 41:06
  OK, print money. For one reason and one reason
• 41:10
  only, the world is rejecting the US debt.
• 41:14
  When we looked at the US debt clock and saw 35 trillion, the
• 41:17
  Fed. This is very interesting.
• 41:19
  This is a little secret. OK, you want to know one of the
• 41:22
  other reasons why? Let's just say a very smart
• 41:27
  friend of mine shared with me the reasons why Jerome Powell
• 41:31
  lowered the interest rates by 1/2 percent.
• 41:34
  OK, right, We, we know the economy is in trouble, but
• 41:37
  another big reason is because the interest rate on a $35
• 41:44
  trillion in debt, they have to lower interest rates just to
• 41:49
  make the system a little more sustainable for a short period
• 41:53
  of time. But what is going to happen is
• 41:56
  that the, the investors of the world, right, the people that
• 42:00
  actually look at, at the, at the financial situation in the
• 42:03
  United States in weigh the risk of, is this worth buying these
• 42:10
  Treasury bonds, Treasury bills? Is it worth it at 3 or 4%?
• 42:16
  Because when I plug these numbers in my calculator, it
• 42:19
  sure seems like the United States is going to have a hard
• 42:21
  time paying their debt. So what's going to happen is the
• 42:25
  market will begin to dictate, right?
• 42:28
  It will drop bond prices because the fewer people that are buying
• 42:32
  the bonds makes the price of the bonds go down, and that will
• 42:36
  make the effective yield on the bonds go up to make them more
• 42:40
  attractive to investors. The problem is, as the spiral
• 42:44
  continues, the United States cannot afford to finance the 35
• 42:51
  trillion. There'll probably be like 40
• 42:53
  trillion in debt at that point. They can't afford to finance
• 42:56
  that at 8%, nine percent interest.
• 42:59
  So the Fed, right, this is what's going to happen.
• 43:02
  We'll monetize the debt. the Fed will turn on the printing press.
• 43:06
  The printing press will go murr, right?
• 43:09
  They'll print more money. And as a result of that, right?
• 43:13
  And the reason why they're printing is because they're
• 43:16
  going to be buying the debt themselves.
• 43:18
  They'll be monetizing the debt, right, to keep the rates low.
• 43:21
  And it turns into a big smoke and mirrors cluster bomb.
• 43:26
  Absolutely. And when money is printed, OK,
• 43:30
  when money is printed, that will create massive inflation issues.
• 43:35
  Massive, right? Massive.
• 43:37
  It all happens very slowly, and then it happens very quickly.
• 43:41
  Look, I don't have a crystal ball, right?
• 43:43
  But when I look at the logic of what we're talking about, the
• 43:46
  logic of the situation that we're in right now, there's no
• 43:51
  escape. There's no, there's no secret
• 43:54
  door, right? The, you know, like when you're,
• 43:57
  when you were a kid and you'd play video games and you got
• 43:59
  like 2 free turbo boost. They've used their turbo boost,
• 44:04
  they're gone. OK.
• 44:05
  There's no way to escape the situation that does not involve
• 44:11
  money printing and gross devaluation in real terms of the
• 44:16
  US dollar. I could be wrong, but I know I'm
• 44:20
  not. But I also know that I could be
• 44:24
  wrong, OK? And I also know, right, that
• 44:28
  that is one of the big reasons why I feel good about being
• 44:33
  invested in precious metal mining stocks in precious
• 44:37
  metals, right? For me, it's more silver and
• 44:41
  gold and silver mining stocks. Everybody's different, but we're
• 44:46
  all going to be faced together, right, with the same set of
• 44:49
  circumstances as we move into, right.
• 44:52
  Let's just focus on the next three months, the rest of 2024,
• 44:57
  their own that they've shut down half of the imported goods
• 45:00
  coming into our country. OK, We're at war in the Middle
• 45:06
  East, we're at war in Europe. You know, we're in the middle of
• 45:13
  a death spiral. We're in the middle of this
• 45:15
  crazy election. The next three months, I think
• 45:20
  things could get very, very interesting.
• 45:23
  I'll say it one last time. I could be dead wrong, but even
• 45:26
  if I look out into a further two to four year horizon, it sure
• 45:32
  feels like things are going to come to a head right now.
• 45:35
  Look, look, it's important we stick together, right?
• 45:39
  Basement dwellers, it's a big deal that you're here.
• 45:43
  I really, really appreciate that you join me.
• 45:46
  Oh, my gosh. I missed the Super chat, Don.
• 45:48
  Oh, I almost missed that. I know it's there.
• 45:51
  Thank you, Don Howe, for that super chat.
• 45:54
  We're going to stick together, right?
• 45:55
  Don's part of this. You're part of it.
• 45:58
  I'm part of it. Susie.
• 46:00
  Jake from Jake Custom Parts, right, the one and only Annie
• 46:03
  Oakley are moderators and big Tim the silvershire and of
• 46:07
  course, silver Susie. But you as well, right, right.
• 46:11
  We'll stick together and and you know, I I like to use this
• 46:15
  example. I think it, I think it really
• 46:17
  shows the power of what we can do together.
• 46:19
  It feels like to me like we're we're all kind of walking
• 46:22
  through a dark forest trail together and we all have a
• 46:26
  little flashlight, right. And if we all shine our
• 46:29
  flashlights and, or keep them off whatever we aren't, we're
• 46:32
  not going to be able to really see where we're going.
• 46:34
  If together we kind of focus our flashlights on what the road
• 46:38
  ahead has for us. I think we can, you know, we can
• 46:41
  maybe avoid some major pitfalls at minimum and maybe even, you
• 46:46
  know, have a collective view on where we are heading.
• 46:50
  So thank you. OK.
• 46:52
  You know, I do this every day. Some days are easier than
• 46:56
  others, but they're always wonderful at the end when I get
• 47:00
  to connect with great people like you.
• 47:02
  Be good to yourself, OK? Be good to those around you.
• 47:05
  But you got to start with you. You got to take care of yourself
• 47:07
  first. So I promise you, sometimes I
• 47:10
  struggle with that. I'll be good to myself, right?
• 47:13
  And we'll be nice to those around us.
• 47:15
  Spread a little, I don't know, Kindness, love.
• 47:18
  I feel like I'm getting too sappy.
• 47:19
  I better sign off. Have a great day.
• 47:20
  Thank you, basement dwellers. Bye bye.