Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / I Warned YOU! 💥💥 These 2024 EVENTS to SHOCK -- (Silver Price and Gold Price)

Transcript

I Warned YOU! 💥💥 These 2024 EVENTS to SHOCK -- (Silver Price and Gold Price) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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.
2:58
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
5:13
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
5:55
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
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going to tell everybody they're going to Telegraph and say this
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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?
7:56
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
8:11
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.
8:30
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.
10:37
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
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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.