Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / Federal Reserve to SHOCK Silver Price.... (and Gold Price)

Transcript

Federal Reserve to SHOCK Silver Price.... (and Gold Price) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Silver and gold investors, yes, that includes, you are
0:05
perplexed. We got great news this morning
0:08
about the US economy, Bidenomics.
0:11
Don't forget, it's working. We're going to dive into that
0:14
and I'm going to share with you something that is absolute.
0:18
If you need a laugh and I know I need a laugh, I heard something
0:21
that's absolutely hilarious regarding these GDP numbers.
0:25
Are there bank runs in Europe? Will there be bank runs in
0:30
Europe? Reuters has a very interesting
0:33
article out about preparing for possible bank runs in Europe.
0:39
What happened yesterday was silver.
0:41
Silver was up, gold was down. We got a lot more to cover gloom
0:46
and doom surrounding us. But hey, let's just get started
0:49
by talking about the GDP. Today they announced fourth
0:53
quarter GDP. Let me read this headline to
0:56
you. This comes from our friends at
0:58
Zero Hedge. And be ready to fall out of your
1:00
chair laughing, because I just about did when I read this.
1:05
I'll tell you when the funny part's about to hit, it says Q4
1:09
gross domestic product unexpectedly soars, driven by a
1:14
lack of destocking and an RV. Yes, recreational vehicle
1:20
spending spree. I mean, isn't it just great out
1:23
there? It's no wonder we feel crazy,
1:27
guys. It is no wonder we feel crazy.
1:30
We get these BS numbers from the Bureau of Labour and Statistics.
1:35
I don't know where the GDP number comes.
1:37
Biden's Bureau of Economic Analysis is where this number
1:41
comes from. All they're telling us is how
1:44
great things are. There was a New York Times
1:46
article I've shared with you the other day.
1:48
Why are Americans so pessimistic?
1:51
What's wrong with you, Americans?
1:52
You know what's wrong. Everything's great, right?
1:55
Does he think maybe this has something to do with the fact
1:58
that it's an election year? Sorry, Do you think it has
2:01
something to do with the fact that it's an election year?
2:04
Huh. the Today show. Susie watches that every
2:06
morning. All I'm hearing is how great the
2:09
economy is. I cannot wait.
2:11
I guarantee you tomorrow morning on the Today show Savannah
2:14
Guthrie, who I used to have a crush on, Not as big of a crush
2:18
as I have on Susie, my wife. OK.
2:21
I can hear Savannah already saying we got some great
2:23
economic news yesterday and the economy is moving.
2:26
Then the the Co host is going to say, yeah, things are really
2:29
great out there. We're doing awesome.
2:31
Bah Bah yeah, sure. You're making $895,000 a year
2:35
working for NBC on the Today show.
2:37
You don't you don't know what it's like to go to the grocery
2:40
store on an average middle class income now do you?
2:43
So anyway, silver and gold investors, right?
2:48
It's no wonder you're feeling a little crazy because all these
2:52
positive. But the reality is something
2:54
very different. And it's not just the reality
2:57
you're feeling because we're all feeling it.
3:00
It's the reality that it's all a big mirage.
3:04
It's all a big game of smoke and mirrors.
3:07
And in the end, silver and gold are going to kick booty.
3:11
Can I say that on this channel? I don't want to get in trouble
3:13
with YouTube. This is a family friendly
3:15
channel. Some of you have your young
3:17
infants watching. They're the first word out of
3:19
their mouth is going to be booty, and I'm going to be in
3:22
trouble anyway. This is funny.
3:28
All right, you We need something to laugh about, especially if
3:32
you're invested in silver or precious metal mining stocks.
3:37
You need some. Trust me, I'm.
3:39
I picked the two wing dingers, That's for sure.
3:42
Anyway, let's see here, economist and Wall Street
3:47
strategist confident that the fourth quarter US growth would
3:50
slow sharply after the inventory accumulation.
3:54
Remember we had AQ three. I mean, the economy's exploding
3:58
positive. Why the heck is nobody feeling
4:01
it anyway? It's economy exploded by 4.9%.
4:07
Yeah, that was in the third quarter.
4:09
Moments ago, President Joe Biden's Bureau of Economic
4:14
Analysis once again shocked everyone when it reported that
4:19
in the Q4, the economy grew in an astounding 3.28%.
4:25
OK, now that was double what the Wall Street people were
4:31
expecting. That's not the funny part.
4:33
OK, I'm. I'm going to.
4:35
I'll skip over all this Hubbell bump because it's all a bunch of
4:38
BS. We're not going to waste our
4:40
time talking about it. We're going to talk about more
4:42
interesting things. But this is funny, and this
4:45
comes from whoever wrote this article for Zero Hedge.
4:49
Bear with me. Bear with me.
4:55
OK, turning to the all important consumption, we can't help but
5:00
smile when noticing that the Bureau of Economic Analysis is
5:04
again resorting to such favorite GDP boosting gimmicks as the old
5:09
Obama administration spending on health care and RV's, which
5:15
contributed to roughly half of the growth of consumer spending.
5:18
That's not the funny part. Where'd the funny part go?
5:21
OK, here. OK, all right.
5:26
Don't fall out of your chair laughing.
5:28
If you're older like me, make sure you're secure, because here
5:31
comes the funny part. Hilarious RV recreational
5:35
vehicle spending spree. Although in Biden's economy, No,
5:40
this is the funny part. So the the the RV spending spree
5:44
is what may I, I don't know, RV lots when I drive by.
5:48
I'm here in Saint Louis. They're like packed to the
5:50
gills. My one daughter, Lillian, was
5:52
obsessed with R VS like two years ago, right when I first
5:55
started the channel. I used to tell you guys that.
5:57
So I always look and I'm like, nobody's buying R VS, But
6:00
apparently somehow it's an RV spending spree.
6:05
This is the funniest thing I've read in a month.
6:08
It says parenthesis. Although in Biden's economy,
6:12
nobody can afford a house. So it makes sense that RV Sales
6:17
are going up, right? You can't afford a house anymore
6:19
if you're 24 years old. In America, unless you're part
6:22
of the .1 percent or the 1%, you can't afford a house.
6:27
So people now apparently are moving into RV's.
6:31
That's not funny. No, it is funny.
6:34
I thought that was very funny. But but it's sad at the same
6:38
time, right? These young kids can't so well.
6:41
RV Sales are blowing up because Americans are ditching their
6:45
houses, which they can't afford. Joe, right?
6:48
And moving into R VS. All right, enough on that.
6:51
Let's move on. We got a lot to cover, guys.
6:53
Let's talk about this article from CNBS about gold yesterday.
6:58
This is what And we got to talk about the Fed.
7:00
Big news, OK, In six days from right now, Big news out of the
7:05
Fed. I got a feeling they're going to
7:07
torpedo silver and gold. Be prepared.
7:10
OK, I hope I'm wrong. About 44% of the time I am
7:16
wrong. But think about we just had an
7:18
unbelievable GDP print. How can they, how can they lower
7:23
interest rates? The stock market's at all time
7:26
highs. Does this not make any sense?
7:29
This does not make any sense. OK.
7:32
The stock market, which we know is based on 7 stocks.
7:37
The Magnificent 7. Right.
7:39
All you had to do was buy Apple stock 10 years ago.
7:42
You'd be rich right now. I like Apple phones.
7:46
Yeah, that's why I bought the stock.
7:47
I don't know anything about valuing a company, but I just
7:50
bought the stock and it always goes up.
7:52
Well, congratulations nonetheless.
7:56
The Fed's going to come out next week.
7:59
All right, we're going to talk more about that in a second.
8:01
Let's let's go through this article quickly.
8:03
What to expect. This is a pretty good article,
8:06
actually, regarding the gold price and the silver price.
8:09
Bear with me here. We're on top of it, OK?
8:12
CNBCCNBC says gold stumbles on strong U.S. data as traders
8:20
strap in for more. OK this was as of yesterday.
8:26
Gold eased after the data showed strong U.S. business activity.
8:29
We know that today we learned that recreational vehicle sales
8:33
are are are fueling the growth of the US economy.
8:38
But yesterday was a weird day because the because we had
8:42
silver go up but gold go down, right?
8:46
Doesn't make any sense. OK.
8:48
Investors are looking ahead to more economic indicators to
8:51
assess when the Federal Reserve might cut interest rates might
8:56
OK here quote gold prices, this is the key gold and we're
9:01
talking about silver as well, are pretty insulated from a
9:05
hawkish repricing in rates markets because there are signs
9:09
that investors are historically under positioned in gold despite
9:15
markets expecting an imminent start to the Fed's cutting
9:19
cycle. So that's from Daniel Golly,
9:21
commodity strategist at TD TD Securities.
9:25
Nobody investors are not positioned in gold, that's a
9:29
good thing. Investors are not positioned in
9:34
silver. Yes, your favorite little metal
9:37
right here. Here's a 10 oz bar.
9:39
I took it back out. I got to bring it back to my off
9:41
site storage eventually but look at that, OK investors are under
9:47
position in both of those metals.
9:49
OK. The the, the, the whole point
9:55
here is what we're likely going to see in the metals markets
10:00
probably for what are we in the probably for the next six weeks.
10:05
You mark my word. I can predict the future.
10:08
We're going to see choppiness, I guess.
10:12
We're not talking about how much choppiness right now.
10:15
We're going to see choppiness. Are we going to see gold below
10:18
$2000? I think it's a real possibility.
10:21
Now, don't throw eggs at me. Don't get mad at me, but we're
10:25
going to see choppiness, especially with this BS high GDP
10:31
growth situation. We're going to see choppiness
10:33
and silver. Will silver touch $20.00 an
10:36
ounce? I'm giving you my word right now
10:39
that when it hits, if it goes below $20.00 an ounce, I'm
10:42
buying silver. OK, you have my word and I'll
10:45
report back to you. Do I think it's likely possible?
10:49
I think it's much more possible today than I would have said a
10:53
week ago. I hope I'm dead wrong.
10:55
I've still do. You still.
10:57
We know the underlying, fundamental reasons behind the
11:00
silver and gold market. But guys, they're playing games.
11:04
They're lying to us about the GDP.
11:06
Everything's great out there. The mainstream media is on a
11:11
coordinated effort to gaslight you into believing that that
11:17
everything is great in the economy.
11:19
So be ready, right? And then that you know the the
11:23
sheeple will be like, well, I don't need to own gold and
11:26
silver 'cause they're not going to row, row, row.
11:28
Don't worry, don't worry. We're still out there floating.
11:31
We're in the lifeboat 100 yards from the Titanic.
11:36
We know the boat's starting to lean.
11:37
We can see it. Here's here.
11:39
This is great. Silver and gold investors are in
11:42
the lifeboat 100 yards out from the Titanic, right.
11:46
We got in there like there's trouble.
11:47
We sense right Okay. Everybody else is still in the
11:50
Titanic. The boat starting to lean right?
11:54
But the people on the boat, it's leaning so slow they haven't
11:58
even noticed it yet. Trust me, when the boat really
12:01
starts to go, they're going to be screaming to join us on the
12:05
silver and gold lifeboat. Unfortunately there there are
12:09
only so many seats available and the ones that are available, the
12:14
ticket price just might go up significantly.
12:17
That's my thought. I could be wrong.
12:18
Okay. Next week we're going to hear
12:20
from the Fed. I bet it's going to be it's it's
12:23
not going to be as dovish as last time and then we're going
12:26
to get slaughtered. OK.
12:28
I hope I'm wrong. I I I am all the time.
12:31
OK. Weird price.
12:32
We talked about that. What about And I heard this
12:36
mentioned remember like 6 Sundays ago when gold went to a
12:41
new all time high. Do you remember that?
12:43
I remember we were sitting around the house.
12:46
Susie was like it was like Sunday night we just got.
12:49
I think we just got in a Christmas tree that night or
12:51
something. I'd spent like 60 bucks and I
12:54
was like, Oh my God, you know, I bought a dead tree for 60
12:58
dollars, $70.00. Anyway, she's screaming, gold's
13:01
up $50, gold's up $75, my phone's blowing up.
13:06
Gwen shop, Chris Jake from Jake's got me all kinds of
13:08
people, right? No doubt.
13:11
Now looking back at it, several top analysts are saying that the
13:15
price was smashed down. People are saying was it the
13:18
Fed? Was it the ECB?
13:20
Was it? Who knows, right?
13:23
JP Morgan. But somebody took the pulled the
13:27
rug out on what was a historic run in the gold price.
13:30
They can't do it forever, OK? They cannot do it forever.
13:34
And let me ask you a question. As you're thinking you're like
13:37
maybe a little crazy that you're invested in the precious metals.
13:40
I got to ring the bell 10 times for 10 thumbs up.
13:42
I almost forgot. Uh oh,
13:55
OK. There we are.
14:00
We can't forget something very critical guys as we feel like,
14:05
you know, we're on the lifeboat looking back at the Titanic.
14:09
Are we crazy that we got in the lifeboat?
14:11
All right, remember right, the ship is taking on water, The
14:16
ship being the US economy. The only way that this economy
14:21
is surviving is by one thing. Taking on more water.
14:25
Taking on more debt, debt, debt, debt.
14:30
It's the simplest thing, and we aren't going to we aren't going
14:32
to go deep into it. But we got to sometimes.
14:34
Look at the simple mathematical facts that our government is
14:39
spending trillions of dollars more than it's bringing in.
14:45
Remember that idea about a balanced budget, right?
14:48
Where did that go? Whatever happened to that?
14:51
Like, you're forced, aren't you? With your own personal finances.
14:55
I hope you are forcing yourself to have a balanced budget.
14:59
You want to bring in more money than you spend.
15:02
Our government brings in a little bit of money and spends a
15:07
lot more. That's why it feels crazy.
15:10
And then we get messages, right? It's going to be all over.
15:12
You're going to hear it. You're going to hear it tonight
15:14
on the Evening News. You're going to see it.
15:15
You're going to see it tomorrow morning.
15:16
I'm going to have to listen to it during the Today show
15:20
tomorrow morning about how great the economy is, how strong by
15:24
dynamics it's working. I mean, give me it break, man.
15:28
Give me a break. Right.
15:31
So it's no wonder. But at the at the base remember
15:35
isn't it pretty sad, isn't it? You know what I'm I'm like Joe
15:39
Biden. I officially somebody at the
15:42
White House is watching and we'll watch this.
15:45
We're getting 10s of thousands of views on these live streams.
15:48
Joe Biden, I'd like you to come on Ron's basement and tell me
15:51
and answer some key questions about how strong the US economy
15:56
is. And I'd like you to listen to
15:58
some of my viewers. Right.
15:59
People that are here with us right now that are middle
16:02
Americans dealing with this situation because it's not good.
16:06
OK. It's not working right.
16:09
It's not working right. OK.
16:12
I'm sorry. We're spending more than we
16:14
bring in. If Susie and I were doing that,
16:16
I'd say Susie, we have a problem.
16:18
We're spending more than we bring in.
16:20
That is not sustainable. Sure.
16:22
I could run out, right? You could right now.
16:25
Are you? I'm.
16:26
I I imagine a lot of you run a balanced budget.
16:29
I hope. I hope you don't have a lot of
16:32
debt. I hope you have no debt.
16:35
OK. We have no debt.
16:36
Nada. I hate that.
16:38
I've always hated that. Right.
16:39
We're not rich, but we don't have any debt, which kind of
16:42
makes us rich, I guess. Right.
16:44
I feel lucky that a lot of people in the world would trade
16:46
places, but nonetheless, we got credit cards.
16:50
It'd be like me running out today, you know, going and
16:53
buying a new minivan and a new big screen TV and and charge and
16:58
say, hey, we're going on a cruise.
17:00
I put it on the on the Chase Visa card, right.
17:03
Everything's dandy. Look how great we're doing.
17:06
Oh, I just blew $90,000 that we don't, that we don't really have
17:12
to blow. And I put it on the credit
17:13
cards, but that's OK. Look how great things are now.
17:17
That's what we're dealing with right now.
17:18
I digress. OK, at the end of the day, the
17:21
only thing they're going to be able to do to deal with all the
17:23
debt is to print a bunch of money which will dilute the
17:26
currency, which will make the dollar go down in real value.
17:32
And because you cannot print, you can try.
17:35
Go for it baby. Show me if you can print gold or
17:39
print silver. They've been trying on the Comex
17:42
for a few years, but that only lasts so long, right?
17:46
You can't print gold and silver, and the only thing they're going
17:49
to be able to do is print more money.
17:52
Everybody sees it coming. I just finished up with Peter
17:55
Grandich. He's been around for 40 years.
17:58
He he says, look, I've never seen things so screwed up like
18:03
they are right now. I don't want to be negative, but
18:06
I want to assess the risk of what is out there.
18:08
If you want to get your hands on some gold or silver or platinum,
18:11
let's say thank you to our channel sponsor, Pinbex.
18:14
You want me to sing it for you, Pinbex.
18:18
Pinbex is best Pi, MB, EX. Bottom line, you'll get the best
18:23
prices, the best service and selection, and I can tell you
18:29
that you'll probably feel like me when you're done working with
18:31
them, that they check all the boxes, right?
18:35
And the pin backs is best. Check them out next time you're
18:37
looking to buy some gold or silver or platinum bullion.
18:40
Or if you're ever thinking about taking an IRA and turning it
18:44
into precious metals, they can help you with that as well.
18:47
And if you throw them into the mix while you're shopped, shop
18:51
around for that. Just don't listen to what
18:53
somebody on ATV Commercial tells you to do.
18:56
OK? OK.
18:58
Put Timbek's in the mix for an IRA conversion as well, and I
19:01
think you'll find that you can get more metal for your money.
19:04
What else is going on? Well, the Red Sea is great.
19:07
You know, we've got the ships being bombed.
19:11
We're attacking Israel's at war with Hamas.
19:15
It's just, it's too much. Do you ever feel that way?
19:18
Like it's too much going on right now.
19:21
That's a big part of the world economy.
19:23
Think about it this way, if you had a little the the 15% of the
19:30
world's oil, of the world's commerce goes through the Red
19:33
Sea. It's all being shut down.
19:36
OK, It's a serious situation. It's Iran against the United
19:41
States against Israel. It's crazy town.
19:46
OK, now just throwing it. Let's let's do our quick
19:50
geopolitical inventory. The Middle East, there's war,
19:55
fallout war. Europe, there's war.
19:58
As a matter of fact, the one of the top British generals warned
20:01
the UK population to prepare for war with the Russians.
20:06
And then they said, well, no, we were just kidding.
20:08
But none the less that's going on.
20:10
China is sending balloons over Taiwan.
20:14
People are like freaked out, like a whole.
20:17
What would that be called? A whole grouping of balloons.
20:23
Which isn't funny. All right?
20:25
North Korea, South Korea. They aren't getting along.
20:28
Nobody's getting along. The world is going nutso.
20:32
Now don't forget when the world goes nutso.
20:35
History has shown us that gold and silver are a very safe
20:40
harbor. There's nothing.
20:43
Nothing. There's a lot of symptoms,
20:45
right? Craziness in the United States,
20:47
craziness in all of this. There's nothing.
20:50
That is the biggest core is big of a core.
20:54
Core, core core supporter of the precious metals prizes like
21:02
geopolitical turmoil, geopolitical upheaval.
21:05
And we got it right now. It's happening right now.
21:09
Real time in our world. I know.
21:12
OK, take a step back. I want you to join me on this.
21:15
OK? I know.
21:16
I know what it feels like. I'm 53 years old.
21:19
Everything has always been the way it's been the dollars.
21:24
I know it's become worthless paper, but it's always the US
21:26
dollar. Since I was a little boy is
21:29
quote UN quote valuable, right? Interesting that $100 today only
21:33
will buy me 20% of the goods and services that $100 would have
21:38
bought me when I was a 10 year old boy.
21:40
But nonetheless, everything's been the same in our lives,
21:44
right? The USA has always been the the,
21:47
the, the big powerhouse. The dollar's always been
21:51
valuable. We've never had bank failure.
21:53
We never. We're asleep, OK?
21:56
We're not. You're you're you.
21:58
You and I, at least we've, like, poked our head out of the sand.
22:01
We're like the first seeds that sprout right when you plant the
22:04
garden, you know what I mean? There's always like that.
22:06
You're watching it every day. And then all of a sudden you go
22:09
out and like, whoa, a couple things sprouted up.
22:11
OK, you have sprouted. I have sprouted.
22:13
We're looking around. Everybody else is in sleepy town
22:18
like, oh, everything's great. All I did was buy the SPYETF and
22:23
now I'm rich and I'm going to be rich for the rest of my life.
22:26
And maybe they will be, but I don't think so.
22:28
Things are changing like we have never seen in our lives.
22:32
And again, what does that mean for silver and gold, right?
22:36
You want me to name the 10 bricks in high speed fashion?
22:39
I can do it right? Right.
22:42
The bricks, right. What it means for silver and
22:45
gold is higher value. Real value, not nominal value.
22:51
Who cares if gold goes to $5000 an ounce if a loaf of bread cost
22:57
$1000, right? We're talking about real value
23:02
like silver and gold protecting you, silver and gold helping to
23:07
possibly create generational wealth.
23:09
I remember Rafi Farber talking about and like during the Weimar
23:14
situation in Germany. This is from memory.
23:16
So if I'm wrong, I apologize. I apologize, Robbie.
23:19
But like people were buying apartments in Berlin for 100
23:23
ounces of silver. We might just have a window of
23:27
opportunity like that. OK, I'm not guaranteeing it.
23:30
I'm not predicting it. But we could, you know, we we
23:34
definitely could, depending on how all this plays out.
23:39
Oh boy, there's a lot going on. There's so much going on.
23:43
OK, here, let's talk about bank runs in Europe.
23:46
OK. Remember Credit Suisse, right?
23:48
Remember Credit Suisse, here we go, headline ECB.
23:52
The European Central Bank asked some lenders to monitor social
23:56
media for early signs of bank runs.
24:00
This came from Reuters. Yes, from London, England.
24:04
OK. Is this how they're going to
24:06
sneak in CBD CS on us? That's my question is that is
24:10
this how they're going to do it? Right?
24:11
All of a sudden all the banks go belly, OK, listen to this, The
24:15
ECB has asked some banks to closely monitor activity on
24:18
social media to detect a worsening and sentiment which
24:22
could lead to a deposit run, two banking executives with
24:26
knowledge of the request told Reuters.
24:29
There goes Susie's laundry's done, it's beeping, it's going
24:31
to bug me. The rest of this live stream.
24:33
European regulators have sharpened scrutiny of bank's
24:38
liquidity after the collapse of Silicon Valley Bank.
24:41
Remember that? And Credit Swesey in March last
24:44
year, the people said, requesting anonymity.
24:48
So there's European banking executives saying the ECB, the
24:52
European Central Bank, is paranoid about bank runs.
24:56
But we're not going to tell you who we are, we're going to only
24:59
tell you this, Reuters, on the condition that you keep our
25:02
names anonymous. Interesting.
25:05
Remember Credit Suisse went belly up.
25:08
Banks run into financial trouble if clients rush to pull their
25:11
deposits at the same time. What that means is when people
25:16
realize that the bank that they thought had their money doesn't
25:20
really have their money, they rushed to the bank to get their
25:23
money. Now what's different right now?
25:26
Like no other time in history, no other time in history.
25:31
What's different right now is everybody has a phone.
25:35
You might be watching me on your phone, but you've got a
25:37
smartphone, right? Your bank has an app.
25:40
So it used to be when there would be a bank run, like back
25:43
in the 30s when people realized back then that the banks were
25:46
full of it and didn't have their money, they would all go in
25:49
person to their local bank and line up.
25:51
You've seen the pictures. And while that still does go on,
25:55
there's a new phenomena meaning that if you decide aside, I
26:00
could do it right now, I'm talking to you through the
26:02
camera on my phone, right? I could go and and and and and
26:06
transfer within the next two minutes all of the money out of
26:11
my bank account into another account.
26:14
Right. We're talking about instant bank
26:17
runs. And that's what they're worried
26:19
about. Like people on social media
26:21
saying, Oh my gosh, XYZ bank. There is no real bank called XYZ
26:26
Bank. I don't want to use a real
26:27
bank's name because I would hate to be accused of starting a bank
26:31
run, but oh, they're going to be in Europe.
26:33
So those speaking be speaking German or Paulie Vu Franzese, if
26:37
that's even his French. Nonetheless, they'll be saying,
26:41
hey, XYZ bank is going belly up and then they all get on their
26:44
phones and within an hour the bank has no money.
26:47
Well, the bank didn't have the money to begin with.
26:51
That's the situation. Somebody's coming downstairs.
26:54
Hold on a second. Nope, Maybe they're not.
26:57
Maybe it was a cat. Maybe I'm hallucinating.
27:00
I mean, as crazy as this is OK. In October, October 2022, a
27:06
social media post from a journalist saying that, a,
27:09
quote, UN quote, major international investment bank is
27:12
on the brink led to a run on Credit Suisse.
27:18
Remember Credit Suisse like one of the biggest, richest, oldest
27:20
banks in the world with clients withdrawing more than 100
27:25
billion Swish Francs. Swish Franc?
27:28
Is it a Swish Franc or a Swish Franc Frankfurter?
27:32
I'm getting hungry. By the end of the fourth quarter
27:36
of that year. The speed at which clients yank
27:39
deposits has triggered a debate globally on whether, under the
27:44
current regulation, institutions can withstand a sudden liquidity
27:47
shock and whether new rules might be needed.
27:50
So they all want they all want you to be electronic and do
27:54
everything electronically right, but they just don't want you to
27:57
take your money out electronically.
28:02
Those bankers, there's something, aren't they?
28:04
They're wonderful. Remember, these are the same
28:07
darn bankers. Oh, we're going to get ready.
28:11
Strap in, have a sip. Hold on, let's all have a sip.
28:17
Those are the same darn bankers that in 2007, 2008 caused a
28:22
financial crisis in the world, right?
28:26
It had to be bailed out because they made a bad investment.
28:29
Well, I made bad investments. I had bought a bunch of mining
28:32
stocks a couple year. Nobody's bailing me out, right?
28:35
But they had to be bailed out. Not only did they get bailed
28:38
out, but they also then got big bonuses.
28:40
They got the big bailout bonus program.
28:43
Well, look, we got the bailout and then look, we made money,
28:46
right? Disneyland accounting. the Fed
28:49
printed a bunch of money and gave it to us.
28:50
And now we made the whole banking.
28:53
So let's wrap this banking conversation up right now.
28:57
Possibly. Do you think that it's possible?
29:01
Possibly possible, right? That they could use bank failure
29:07
possible as a event under which they then roll out CBD, CS.
29:15
We've got a cure for this. We are the central bank that we
29:19
don't need all these little banks anymore.
29:21
A lot of some people say that's the case right?
29:23
Like they're trying to get rid of that.
29:24
There's only going to be like 5 banks left, right and oh but
29:28
look we've got the solution for you.
29:30
We know you lost all your money and whatever bank come use the
29:36
central bank digital currency. I don't know, China.
29:39
This makes no sense. It makes no sense right now.
29:43
The stock market's up again today, right?
29:45
The tech stocks, I'm sure. NVIDIA, Apple, Microsoft.
29:48
That's great. OK, right.
29:50
The stock market's at all time highs.
29:52
The small cap stocks are like doing poorly.
29:56
But what really makes no sense to us in terms of what's going
29:59
on in the world, we need to stay abreast on worldly events, guys,
30:03
is that while the United States of America and I know we're
30:06
exceptional, we're special, right?
30:09
Yeah, we're specially good at spending a lot more money than
30:12
we bring in, but that's already been covered in this live stream
30:16
that the United States, our markets are at all time high
30:19
while China's markets are crashing.
30:21
I didn't look overnight, so let me see.
30:23
Let's take a look real quick. Let's just take a quick look.
30:26
Hey, and while I got your attention, guys, let's all say
30:30
thank you to the moderators that are here today.
30:32
There's 450 people. There's only one you and you can
30:36
do something very nice right now.
30:39
You can give this a thumbs up that's.
30:41
And then you want to do something double nice.
30:43
Who doesn't want see how good it feels to give this a thumbs up?
30:47
And then I want you to participate and go to the chat
30:51
and type 88888 is great. And we type 8 for those who
30:58
moderate. OK, Thank you very much.
31:00
Where was I? Oh, we almost have 200 thumbs
31:03
up. It's almost time for the cowbell
31:04
to be rung. So if you don't like bells, we
31:07
got it, man. You guys knocked me out of the
31:09
park 206. All right, let's ring the
31:11
cowbell. I'm going to ring the heck out
31:13
of it today. Is Jake here?
31:16
I'll ring it for Jake. I see Timothy Zoob is here.
31:29
He's been on the channel before. I have to apologize to him.
31:32
I went into the first mining gold webinar yesterday and he
31:36
had emailed me and I clicked on the link that he'd emailed me.
31:39
Then I started typing in questions and they came up that
31:41
I was Timothy Zoob. So sorry about that, Timothy.
31:46
And while I have that by your attention, let's say thank you
31:49
to our other channel sponsor, Fortuna Silver.
31:53
They're traded on the New York Stock Exchange and the Toronto
31:56
Stock Exchange, global gold and silver producer, OK, 5 operating
32:02
mines, Mexico, Peru, Argentina, Burkina Faso and Ivory Coast,
32:10
which is also known as Cote d'Ivoire.
32:12
And I'm telling you guys, the company's well managed, fiscally
32:17
financially conservative, OK, it's a stock I've owned for
32:20
years before they became a sponsor of the channel, but I've
32:23
gotten to know the CEO over the years.
32:27
What's exciting about them is what they're doing in West
32:30
Africa. And if you learn about West
32:33
Africa and gold mining in West Africa, it's crazy.
32:38
It's established. It's, if I have this correct, If
32:41
you take this little region of West Africa and combine it,
32:46
several of these countries, it's actually smaller than the state
32:50
of Texas. But combined they're either like
32:53
the largest or the second largest gold producer in the
32:56
world. So there's a lot and there's all
32:58
this infrastructure. The Fortuna just finished
33:01
wrapped up building the Seguela mine.
33:04
It's really doing well. They're running more ore through
33:07
the mill. The ore they are running through
33:10
the mill has more gold in it than they anticipated and
33:14
they've got unbelievable exploration potential around
33:17
that Seguela mine and Cote d'Ivoire.
33:19
But also, but wait, there's more.
33:22
They've got the D'amba Sood project in Senegal, which is a
33:26
exploration development stage project that they are drilling
33:32
now as well and doing more exploration.
33:35
So go, Fortuna, and thank you for the sponsorship now.
33:40
Oh boy, we got more. All right.
33:42
Oh, yeah, I didn't. I didn't even.
33:43
I got the big bonus. I got the big bonus for you.
33:51
If you ever felt like investing in silver is like riding a
33:56
mechanical bull. I think I rode a mechanical bull
33:59
one time in my life. And yeah, I can say investing in
34:02
silver is like riding a mechanical bull.
34:05
There's a guy out there, another YouTube.
34:07
He actually called me about a month ago.
34:09
Super smart guy. I believe he's a college
34:12
professor or maybe even like a Dean on a smart guy.
34:17
His channel is called Stackers University.
34:19
In a video popped up last night, he just put out a new video.
34:23
Go check him out. Tell him you're from Ron's
34:25
basement. Say hey Stackers University.
34:27
Ron from Ron's basement said we should check you out because he
34:31
has this video about how basically, like a lot.
34:35
And I'm not going to put words in his mouth, but like,
34:38
investing in silver is like riding a mechanical bull.
34:40
And right now we're at that point where the bull has got us
34:43
down and everybody's jumping off like capitulation.
34:47
People are selling, right. People are giving up and that
34:52
that's just the time when things can change, when the market can
34:57
change, when the any goes through some data about you know
35:01
how long time periods between big spikes in the silver price
35:05
we're due. OK, we are due for a big spike
35:10
in the silver price. Now it might be a year it might
35:13
be two years but we are due we're we're not overdue yet but
35:17
we are due our due date like it's like when you have babies.
35:24
We haven't had babies here for like 11 years, almost 12 years
35:27
ago. It's hard to believe but our due
35:29
date OK for us silver investors is we're approaching our due
35:34
date. We're in our 9th month.
35:39
Susie likes to joke around with me sometimes because I don't get
35:43
a lot of exercise. You know, I I played Division
35:46
One, the highest level of collegiate soccer that you could
35:50
in the United States. And I used to have to run all
35:52
the time. I hate exercising.
35:54
I just don't like it, OK? I'm not like running.
35:57
I don't get it. Like, why would I just want to
35:59
go run? Like my body's not built for
36:01
that. Anyway, so I have a rather large
36:03
belly, which some of you have commented on.
36:07
And sometimes she jokes around with me and asked me about what
36:10
my due date is. Well our due date as silver
36:13
investors and gold investors, we're due, right.
36:18
We're going to, we're going to have to induce labor at some
36:21
point here in the near future because we are due.
36:25
He talks about in this video, Rick Rule.
36:27
All right you know Rick Rule he's like one of the royalty
36:31
within the precious metal sector investing arena.
36:37
Rick Rule said. And it's so true guys like
36:41
Silver is silver's hated and I mean I'm look, I don't look, I
36:45
love you, you love me. We all love each other.
36:48
Kumbaya. We're like sitting around the
36:51
campfire. We're the silver and gold
36:53
investors. We're here.
36:55
We're in Mr. Rogers neighborhood for silver and gold investors.
36:58
We are you know we're like the Dungeons and the Dragons club in
37:03
high school, whatever you want to call us, right.
37:06
But we're we're like our own little group.
37:08
You know, we're not a. We're not a religion.
37:11
We're not a cult. We're not anything like that.
37:13
But we're our own little group of silver and gold, especially
37:16
in the United States. The rest of the everybody else
37:18
hates silver especially, right. Oh, oh, silver.
37:22
And a lot of people who in the last two or three years got into
37:25
silver, unfortunately some of them have become silver haters
37:29
as well because it's a tough thing to invest in.
37:32
Right. Rick Rule.
37:33
Here's the good news. That's fine.
37:36
I'm not putting words into Rick's mouth, but this, I think,
37:39
is, is what he's saying. And I'll say it as well.
37:43
The time to invest, OK. In something, if you believe.
37:47
Let me ask you, you got to ask yourself this question.
37:50
Do you are you, are you a believer?
37:53
Do you believe Say hello. No, I mean, seriously, do you?
37:57
If you believe in the thesis, the fundamental story behind why
38:03
Silver in particular is, is undervalued right now.
38:08
If you believe in that, if you believe that there's a much more
38:13
the path of least resistance for the silver price is higher,
38:17
right, then you're happy about the fact that silver is hated so
38:22
much right now because all we need for it to go up in price is
38:29
for it. We don't.
38:30
We don't need the world to love our silver, right?
38:33
We can love it ourselves, but all we need is for the world to
38:37
hate it just a little less. And and Lord forbid right, that
38:44
the world becomes neutral on silver or falls in love with
38:49
silver, right? And we talk about $100 silver.
38:53
$200 silver. If if the world falls in love
38:56
with silver, Let me tell you the situation right now, OK?
39:00
Silver miners. Silver miners are having a
39:03
difficult time getting silver. Silver mines are shutting down.
39:08
Silver and that sounds like a song.
39:10
Silver. So, London bridges, Silver mines
39:13
are shutting down. Shutting down, shutting down.
39:17
Silver mines are shutting down. My Fair Lady.
39:21
Silver mines are shutting down. OK, that means less silver is
39:27
being produced. You didn't think I'd sing again,
39:29
but I did. All right.
39:30
Ask Keith Newmar. Ask Jorge Canoza.
39:33
Ask Phillips Baker who runs Hekla Mining.
39:38
Right. Ask any of these guys, isn't it?
39:40
I mean, Hekla's going down like 28 miles into the earth to get
39:44
the silver up in Idaho. Not that far, but they're going
39:47
down deep, baby. Silver, right?
39:51
Remember, I, I, I really want to sing it again, but I won't.
39:53
Silver mines are shutting down. OK?
39:56
That's the reality. There's no money going into
39:59
silver. The Silver Institute tells us
40:02
that the output of silver every year from the mines is going
40:07
down, down, down, down while the demand is going up, up, up, up.
40:12
I heard somebody say this the other day, Don't quote me on
40:15
this, but they said basically at this point all the silver, which
40:19
is somewhere around 800 million oz a year, all the silver.
40:24
That's being produced by the mines is now being consumed.
40:31
That's the C word consumed by industry.
40:36
So everything that's produced which, which is actually going
40:39
down, is being consumed by industry.
40:42
But the amount of silver being produced is going down.
40:46
Here's a fancy chart for you. And the amount being consumed is
40:50
actually going up. Do you see a a difference there?
40:56
How does that get fixed? Well that gets fixed for now by
40:59
by pulling silver out of above ground inventories that Jeff
41:03
Christian guy says there's six billion, 5 billion, I don't
41:07
know. Other people say there's less.
41:10
I know that. I heard somebody just the other
41:14
day talk about how over the last three years, 400 million oz, we
41:18
can quantify that of Silver has left the Comex and basically the
41:23
LBMA because of the SPYETF but but so that's the fun.
41:29
I'm sorry you didn't ask for that but I gave it to that's the
41:31
fundamental story behind Silver. That's the story even included a
41:35
little bit of a song. But what's interesting, two
41:39
things, two more things. We got more.
41:43
You know what? And if you want more, we got.
41:45
I got to write these down or I'm going to forget.
41:47
And then people in the comments will say you never complete your
41:50
thoughts. So there's one of them.
41:53
And I already forgot the other one.
41:54
Oh, no, I didn't. I remembered.
41:56
OK, hold on. Before I get there, there's two
41:58
more Double this has. This has become the ultra bonus
42:03
show. But I want to show you something
42:04
real quick that could soon be yours.
42:08
Do you like silver? I love silver.
42:10
I'm going to have a hard time getting rid of this.
42:12
And you're going to understand why when I show it to you.
42:20
Uh oh, everything on this tray except the hot dog could be
42:28
yours on Valentine's Day. Yes, we've got a couple pieces
42:32
of junk silver from Coin Shop Chris 24 oz bars right from our
42:37
friend JB and our friend Jim M Do you see those five one ounce
42:42
bars? Those are Nadir silver bars.
42:44
Oh, and I got breaking news for you as well.
42:47
And this is. I'll show you this.
42:51
I'm telling you, I'm not. I'm not.
42:53
I'm not encouraging you to go buy one of these from Pembecks,
42:57
but Pembecks donated this. It's a 10 oz Geiger Silver Bar,
43:01
and it is. It even says that they.
43:03
It is elegant, you know? And I love elegance.
43:07
I know you do too. OK, so just don't go now.
43:11
But it's some other time. Go to the description of any of
43:15
my videos and there's instructions on how you can win
43:21
all that because I'm going to give it away on Valentine's Day.
43:24
I'm still going to break my little heart to give it away.
43:26
The hot dog is not included. Oh, break breaking news.
43:36
We're going to have more. A nice lady named Kim emailed me
43:40
yesterday and said, and she already mailed it, said she was
43:43
sending a couple things to add to the giveaway as well.
43:47
So you know there's got to be more silver, that there's two
43:49
big more things about silver. The list never ends, OK?
43:56
The price never goes up, but the list never ends.
44:02
Can we get the 300 thumbs up? We got 500 people on here.
44:05
If we get the 300 thumbs up, I'll ring the gong right there.
44:10
OK. If we get to 500 people, if you
44:13
don't leave this live stream, we'll do the old silver train
44:16
and I'll ring the Where is it? I'll ring the RL.
44:21
Here it is. I'll blow the the train whistle.
44:24
OK, two more big things. You you may not think about
44:27
this. When it comes to silver, I was
44:29
talking with, Oh my gosh, Andrew McGuire yesterday from the
44:34
United Kingdom. OK, He has a British accent.
44:37
The whole 9 yards. Really a cool guy.
44:40
He knows more about the markets, the intricacies, the, you know,
44:45
the cot report and the LBMA and the commit, all the CT as and
44:50
blah, blah, blah, all that crazy.
44:51
He's a brilliant man. OK, A brilliant man.
44:54
Come on guys, we're going to get to 300 thumbs up and we're going
44:57
to get to 500 people. I'm going to get to do, we're
44:59
going to do it. Don't leave the, what he told me
45:02
was indications, OK. And on the silver market on the
45:07
wholesale level, right, because we make this mistake, we just
45:12
think oh there's a lot of, there's a lot of American Silver
45:16
Eagles premiums are down on retail and and so retailers the
45:21
retail like the me and you's, there's been a a, a pullback in
45:26
demand for silver. So when they go, that means
45:28
silver's going to go down. He's on the wholesale level,
45:33
they're seeing things and this has to do with India again, that
45:37
are very indicative of massive silver demand.
45:41
OK, I'm going to be, I'm on his show live from the vault.
45:46
I'll put a link to it when it goes live where he talks about
45:49
it and he knows how to describe it.
45:51
So we got that going. That's the that that's the big
45:54
whopper of demand for silver. Remember what we said earlier,
45:58
right? Industry is basically using up
46:01
all the silver. I mean, so anyway, that's
46:04
Whopper #1, Whopper #2. It was said last night on the
46:10
Silver. I was on Reddit looking at the
46:12
Silver D Gen. Club and somebody had put on
46:16
there the fact that the SLVETF that their inventory had
46:22
increased by like 1,000,000 oz. And that's a bit of a sea change
46:28
in the Silver world because. Because lately, what we've seen
46:33
are outflows from the SLVETF guys.
46:37
If we get this is the reality, if we get even the slightest.
46:43
Remember what Rick Rule said earlier, right?
46:46
Well, he didn't say it. He wasn't here, but I said it
46:48
for him. That Silver just needs to be
46:50
less hated to do really well. OK, if we get a few more people
46:56
right? Basement dwellers.
46:57
We are the basement dwellers. We get a few more basement
47:00
dwellers joining us and and and that investment demand and then
47:06
some of the institutions and it's it could be that could be
47:11
the explosion point for the silver price.
47:14
OK, man, you guys did it. We got the 300 thumbs up.
47:18
Let's ring the gong. All right, guys, thank you for
47:36
joining us. Susie and myself want to say
47:38
thank you for all the support you given the the channel Super
47:42
Chat that I missed. I'm, I apologize to, ever
47:44
donated with the Super Chat. Super Chats are super
47:48
appreciated and go a long way to helping support the channel and
47:52
our family because this is what we do to support our family and
47:56
we do put a lot of work into it. But it's well worth it because
48:00
the community of people, right? And that's you, right?
48:05
That is you not. I'm not talking to anybody else,
48:08
I'm talking to you. The community of people and the
48:11
people we've met through doing this are second to none.
48:16
So come back tomorrow, OK? I think we're going to put out a
48:19
new video this afternoon, but come back tomorrow.
48:22
I'll see you then. Until then, be well.
48:24
And remember, you're important and you mean a lot to a lot of
48:27
people out there. Take it easy.
48:29
Thank you.