Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / We Warned YOU! 💥 STUNNING Coin Shop Story - (Silver Price and Gold too)

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We Warned YOU! 💥 STUNNING Coin Shop Story - (Silver Price and Gold too) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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Big warning for you, Silver Stacker.
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You might find the following coin shop story very disturbing.
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Today we're joined by Coin Shop Chris, and he's going to tell us
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something that happened in the coin shop this week that really
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I found almost unbelievable, a little disturbing, but we got
0:20
more. We have some warnings for all
0:23
the silver stackers out there and the September curse.
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We're going to get coin shop Chris's take on what's going on
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with the with the September curse.
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But first, coin shop Chris, welcome to Ron's basement.
0:37
It's great to have you here with all the basement dwellers,
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everyone who's joining us from all around the world.
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Chris, welcome. It is.
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What an introduction. Ron, thank you for having me
0:47
back. You know, it's always a pleasure
0:49
to come back in the big basement with with you.
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Well, you had something crazy happened this week at the Coin
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shop. Let's not keep everybody hanging
0:58
because we do have a lot more to talk about as well.
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Tell us about what happened this week at the Coin Shop, which
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quite honestly, I found to be almost unbelievable.
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This is this is a crazy story. We but we had a guy that come in
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and I tell you he was a little off the wall.
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He was now swearing at us. You know, that's really not a
1:19
red no, but we look for three red flag before we say no deal
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to somebody. This guy comes in.
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So we just I started the conversation.
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How long have you had the coins for?
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And he says, whoa, whoa. Whoa.
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So wait a minute, this guy came in trying to buy coins or sell
1:35
coins. No, trying to sell seven, I'm
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sorry, 7 tubes of silver eagles and he came in with $48 worth of
1:42
junk silver. OK, I guess that's what he had.
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So we, we starting to look through them.
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He says, why did he says why are you looking at everything for
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us? But we're trying to make them
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further real. I said how?
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I said how where do you get them from?
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He, he didn't want to answer that question wrong, which is
1:57
fine. Nobody has to answer that
1:59
question. It's just conversation to get,
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you know, something going. And he's getting more and more
2:04
irate at us. And one of our workers said
2:09
something and he says I ain't talking to to you.
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He called her a few swear words, which I won't repeat.
2:16
Can I ask you a question, Chris did.
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Did he use the F word? I think every.
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I think our audience, the basement dwellers, know what.
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Absolutely, Absolutely. That's not appropriate.
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We don't use those words. So then the owner started coming
2:29
out of his, his office and I'm, so I asked him, how long did you
2:34
have these for? And he, he said, well, about
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five years. Well, the eagles, every single
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eagle, folks, it was 2023. So that was with the first red
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flag that threw up in my mind. This guy didn't know what really
2:47
he had and and he started getting involved with the owner
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and he says I don't care who you are, I'll be back.
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Now he's starting to threaten us in a certain way.
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And I had the cash. It was always remember 7 tubes
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of silver eels and $48 worth of face of junk silver we had.
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I had over $6000 in cash, my hand ready to pay him out.
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I had one of the girls. So, Chris, can I ask you a
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question? Can I ask you a question, Chris?
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Yeah, go ahead. Was your heart beating?
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Were you, were you, were you like really getting like worked
3:21
up scared at this? I mean, at this point, I mean,
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you had $6000 in cash in your hand.
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You got this guy who's, you knows, lying to you because he
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tells you he's had these Eagles for five years.
3:32
But they were, what year were they?
3:34
2020 threes, you said? 20 threes, yes.
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Yeah, well, he wasn't too good at math either.
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I mean, were you at that point because you've worked in in coin
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shop for a long time? Were you were, were your
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internal alarms going off? Were your armpit sweating?
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I mean how? No, remember it's it's three.
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It's 3 red flags before we stop a deal.
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So and he still was shooting back at the own and he said
3:59
you're not the beeping owner. I don't care who you are.
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I'll be back and show you who I really AM.
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And by that time I gave the girl who was working with us the
4:09
cash. He didn't see this happen.
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I said, box up his stuff up and I hand it back over.
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He said, where's my money? I said, there's your money right
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there. I'm not interested in your.
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I said, I'm not interested in your crap.
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And he and he and he started going off on me.
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I said, I said you're. And I and I called him a
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jackasser on. I call him a little bit more
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than the Jackass, but I'll keep it clean.
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And I told him to get the heck out of the store.
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And then the owner turns around and says call the Police
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Department. While we have the Police
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Department, we had the Sheriff's Office where we're kind of like
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on the line of both places here. And the officer came in, sheriff
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came in, we ran the other EO and we ran the video.
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It was one of their guys. He was a rookie clock for 10
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months between both departments. Imagine that you.
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You have you had this all recorded on video, you have
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video surveillance there in the shop, correct?
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Absolutely video and audio that we that we do so, he said.
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That's one of our guys and oh. Wait a minute, he said.
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What? He's one of our guys.
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What do you mean by one of our guys?
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He, he was, he was a deputy sheriff and then he went over to
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the police, the police one. And so he was a rookie cop with
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them. Wow.
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So how he how this guy got, we didn't notice that first.
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So they go in talk to him. He half admitted that he, he
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took him out of evidence from another situation and he's the
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guy's in jail now on the guy is in jail.
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They booked him on four or five different charges.
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He is on bond. He he's not out of jail.
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He still has a $35,000 bond on him.
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Wow. So so he got the Silver Eagles
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from the evidence room at the Police Department.
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Is that is that? Yes, apparently, yes, he stopped
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somebody for speeding. Apparently he had and this
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person had an open can this container which there was no
6:16
evidence of this is will go beyond the story, but it was no
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evidence of an open alcohol can this container in the car.
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So the what the police share, because it was in their evidence
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room, went back yesterday and we viewed every time he went into
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the evidence room and saw him going into that bag that he was
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pulling out a tube of Silver Eagles every single.
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This went on about two months. Wow.
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And he kept stealing, stealing, stealing.
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Well, the person who? Question, is it accurate to say,
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Chris, that this guy made the evidence room at the Police
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Department, his own personal local coin shop and he was
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getting a really good deal as as he was building up his stack?
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Well, he was until, I mean, yeah, you can say that.
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So they had him on the Evans room, the people, the guy who
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actually owned the coins, you had to, you know the the one,
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his case in court and the evidence had to be turned back
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over when they went to go find the bag that was missing.
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He always paid out and missing insurance claims.
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So he also got booked for insurance fraud.
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Now people are going to say if he came in nicely, he would have
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never been caught and. Interesting.
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Never been caught because we we, if he didn't say that line to us
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three times that he's going to be back and show us who is who
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he is now. We don't know what he meant by
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that at that time. Put that in your head.
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I want everybody to put that in the head.
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We didn't know what he was going to do or not do.
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So yeah, it was a little interesting to find out he was
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one of the officers out there. But you know, there are some
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crooked cops out there and. But you know what?
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Most of the cops and police officers and sheriffs are good
8:07
people. And there's.
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Absolutely. And you know, we every now and
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then you see a bad egg and he was a bad egg.
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And there's bad eggs in the gold and silver coin shop.
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There's bad coin shop owners out there, right?
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There's always, you know, a few bad people out there.
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But that's just astounding that this guy was taking silver out
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of the evidence evidence room. And then and then eventually, I
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mean, wow, yeah, that's. And he also went in what I can
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say to he also stole another necklace from another bag that
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was worth it was worth about $20,000.
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Wow, wow. Yeah.
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Absolutely. Absolutely crazy.
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So if you're going to stack silver, everybody, the way to do
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it is, is not to get it from the evidence room at the Police
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Department. There's other options available.
9:00
And while we're on that subject, Chris, I want to run out to
9:03
channel sponsor Pembex and say thank you to Pembex for
9:07
sponsoring Ron's basement. I have some some good news.
9:10
I found my lost silver. But first I want to say if you
9:14
are looking to get your hands on some silver, gold, or platinum
9:16
group metals, do yourself a favor and at least consider
9:21
PMBEX. Check them out and see what they
9:22
can do for you. What I found and I heard about
9:26
PMBEX from the basement dweller community.
9:28
You guys said check out PMBEX and I did.
9:30
What I found over a year ago is I always get the best prices,
9:34
ultra competitive pricing. I always have a great selection
9:38
and it's a company that has absolutely earned my trust.
9:42
Do your own due diligence. I'm not going to tell anybody
9:44
what to do, but you may really find that you benefit from
9:48
checking out pin backs next time you're looking to buy some
9:51
online bullion. Chris, I found my up here on the
9:54
screen. You know my favorite coin
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lately, the 2023 Britannia that Pembex has here.
10:02
It has King Charles on the back. But I also at this last time I
10:05
that's the last purchase I made and I looked it up think I got
10:08
them for $25 each. So it was a good purchase when I
10:12
bought them. But for fun, I also bought a
10:14
tube of these 110th oz Great Britain Britannias and let me
10:20
turn the camera back on. I lost them.
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I lost the whole tube for like 2 months.
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I mean, I looked everywhere. I knew that I had them somewhere
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around the house. I looked high and low, high and
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low. And lo and behold, it dawned on
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me the other day that maybe I left them in the package because
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I bought 4 tubes of those 2023 Britannias.
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This is like four or five months ago and sure enough, I went to
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my off site location where I store my silver and I found them
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right here, my little bitty tube.
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You ever see these little things?
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Let me I'm going to pull them out and show everybody.
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I don't recommend them for silver stackers.
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I bought them as a novelty because I like little miniature
11:00
things. Look how small and you can see
11:03
in there and I'll I'm going to I'm going to show everyone with
11:07
the whole stack of them looks like hopefully I won't drop this
11:12
here. This could turn into a total
11:14
disaster. But that's what they look like
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the whole I think there's sixteen of them there.
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Oh boy, they're going to fall. Hold on, but and look how tiny
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these little guys are. Here's King Charles.
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I don't know if I you guys will be able to see this or not, but
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yeah, that's not going to work too good.
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But anyway, these tiny little coins and man, I looked high and
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low. I don't know if you've ever had
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that happen. I don't know if any of the other
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basement dweller communities had that happen where you lose
11:43
something and it was just bugging me, especially when it's
11:46
silver. I was like, Oh my God, I can't
11:48
believe I'm a silver stacker and I'm losing silver.
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And finally it dawned on me like, hey, dummy, why don't you
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check with the in the package with the other one ounce
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Britannias that you bought. And sure enough, there they
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were, Chris. Well, I'm glad you didn't loses
12:04
losing Ron thinking about pin backs are on I got I just while
12:08
we're on the pin pin pin backs. You know many of the many of you
12:15
folks know that I like 90% service.
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So I really focus on that every single week on one of my views,
12:20
every single Saturday month you're.
12:21
What do you mean you like it? You're like the I'm.
12:23
Like. The.
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I'm the king of junk, Ron. That's right.
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I like to refer to you as the Fred Sanford of Junk Silver, but
12:31
go ahead. And then, and then I want to
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mention, right, we're going to get to the September curse and
12:36
get Chris's take on that. And we've got some warnings for
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you as well. Go ahead, Chris.
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I apologize. I just, I just wanted to let
12:42
everybody know that, you know, I do that video every single week,
12:45
you know, who has the best prices and I'm not, you know,
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how do I phrase this? We have to keep shopping around
12:53
to find the best price. But you know, I went online and
12:57
I found JM bowling for a roll of Franklin half.
13:02
Dollars it was. 2490 it was 29 O 9 face times that by 10.
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A roll of Franklin halfs at JM Bowling cost $290.40 drawing.
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OK, you go over the US sponsor, they had him for 2498 per
13:21
dollar, face the whole 4 rolls and cost you $249.80.
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That's a whopping $40.60 from JM Bowen.
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So Penn, I mean forty, $40 cheaper than JM Bullion. $290.00
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is ridiculous. OK, that is a That is a
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ridiculous price. That's for.
13:44
For how? Many $10 space $10.20.
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Franklin's for two, 4980. 10 back, you say $40 and that's
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what what what, what can you do with that money, Chris?
14:00
Wow you can buy pizza for for your family or maybe take Susie
14:04
out 10 times and you have $4.00 every time so she she can buy a
14:08
Diet Coke. She, Susie, is not allowed to
14:11
buy soft drinks when we go out to eat.
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You know, I what I'm thinking somebody could do with that $40
14:16
is buy themself an American Silver Eagle.
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Bingo, that's what I always say. That's why I love PMBEX because
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if if I were to buy that $10 and face value of Franklin half
14:28
dollars, right, 2050 cent pieces, 90% silver in the
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package came and I bought it from PMBEX instead of buying it
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from JM Bullion like you just looked at my package that I get
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from PMBEX would be exactly 1 oz heavier because it would have
14:45
that extra American Silver Eagle in there.
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And I tell you, pin backs even beat us out of the shop.
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We're at 255 per roll, so they even outdone us.
14:55
Chris, we are on the cusp of a major accomplishment in the
14:59
precious metals market right now.
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I'm going to pull up a chart that I have.
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I got these from our friend Bald Guy.
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Oh gosh, at the beginning of September, and I talked about
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this this morning, but September has for the last seven years
15:14
been an absolute horrific month for the precious metals.
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Horrible month for the precious metals.
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And now we are in the cusp of breaking the curse.
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As you can see in this chart, over the last seven years, the
15:27
average return on gold was almost what -3 1/2 percent.
15:33
OK. And here's here's a blow by
15:35
blow. This is September.
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In each of the last seven years, as you can see, down 3%, one
15:41
percent, 3%, four percent, 3%, three percent, 4 1/2 percent.
15:46
Last year we were down on the gold price.
15:49
And right now so far this year, we're up almost 6%.
15:53
Do you think that's a significant situation and and
15:57
what do you think that could be telling us as we head into the
16:00
rest of the year for, for the precious metals prizes, Chris?
16:04
Well, take we just bring up that chart for one.
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Just one minute, please, Ron. Yes, Sir.
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Which chart would you like? That last that, that one right,
16:12
right there. Take that and dismiss all of
16:14
that. Look, it's because we didn't
16:16
have the Brooks coming up. We didn't have the this very
16:21
trying election coming up. We didn't have super high
16:25
inflation. You'd you know year after year
16:29
for most of these years that we're showing.
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We also had the C19 prices that you know was mixed in with this.
16:37
This year is totally different and I call it Ron, I've been on
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your channel, you and I talk plot privately and I said wait
16:45
to fall or will fall and still look, still won't touch in the
16:50
futures market. This past week 33 O 6 in the
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futures market go touch over $27109.00 and I believe was
16:59
$0.80 if my memory serves me right.
17:02
We are going gold keeps breaking all time highs.
17:06
Silver is moving up and up till we had a little pullback Friday.
17:10
I think the mails will still have a little pullback on Monday
17:14
and Tuesday and watch out for Wednesday.
17:17
That is my prediction. We're going to have a little bit
17:19
of a pullback. I think not going to be a
17:21
dramatic pullback. I don't believe just don't make
17:24
any financial advice based on what I'm saying.
17:26
Anybody, please. I, I think we're going to see
17:30
pull back on Monday and Tuesday and I'm not talking a lot
17:34
either. Maybe for y'all pull back and go
17:36
the next two days and maybe $0.75 or a dollar pull back in
17:41
silver over the next two trainees.
17:43
The, the, the, you bring up a great point, Chris.
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I think it's important for everybody to remember.
17:47
And by the way, thank you to everyone yes, you coin shop
17:51
Chris and I see you you're in the basement with us.
17:54
Thank you for being here. Your time is absolutely
17:57
important and we appreciate you being here.
17:59
We appreciate the moderators. I know Annie Oakley's here Jake
18:03
from Jake custom parts Tim big time the Silvershire type 888
18:07
that say thanks to those who moderate 'cause they make this
18:11
possible. But we are in a situation right
18:15
now, it's, I feel like this guy when I think about the when I
18:18
think about the silver price and the gold price, I mean Don
18:22
Gartlett's, I mean, we are, we, there is so much momentum right
18:26
now, so much positive momentum. But Chris, you bring up in a
18:30
very important part, right? Things are different right now.
18:35
We are in a different environment.
18:38
The brick situation is getting ready to explode at the end of
18:43
the month, right? I mean, in Russia, they're
18:46
having to mean, do you know, the the Taliban is requesting to go
18:50
to the to the BRICS meeting this year.
18:52
You've got the president of China who's going to be there,
18:55
the president of India. This is real.
18:58
I mean, this is this is like happening right now, right?
19:02
We didn't have wars going on. I mean, the situations in the
19:06
Middle East, the situations in Europe, they aren't getting any
19:09
better, right? That guy Zelinsky's here begging
19:13
for more money. We know that the things
19:16
unfortunately are escalating in the Middle East.
19:18
We've got we are in a much different situation.
19:21
There were some other things you brought up.
19:22
I mean, we got this presidential election they're talking about
19:26
if Kamala wins like it everything things going to
19:29
implode. I mean, they're not joking
19:31
around like her what what she's proposing that we do.
19:34
And I'm not making a political statement, right?
19:36
They're saying that it's not not much better no matter who the
19:39
president is. Moody's is not Moody, right?
19:44
Moody's. Moody's is the only one of the
19:46
rating agencies that has not downgraded the United States
19:49
debt. And they put out a thing last
19:50
week saying we're reviewing the situation.
19:54
Because when we look at what's going on in the United States,
19:57
when we look at what's going to happen after this next
19:59
presidential election, we don't. It doesn't really matter who
20:02
wins or loses. the US is up a Creek without a paddle is a nice
20:07
way for me to say that. I mean, we are in a different
20:09
world right now. Well, look around.
20:12
We just spent, you know, they just gave you the Ukraine.
20:16
You know, probably most of these politicians didn't know what the
20:19
heck they were signing or voting for it when this when they voted
20:22
for it because they kicked the can down the road until right
20:25
before Christmas. So we're going to have another
20:27
Christmas debut of financing here.
20:30
But we just spent another $8 billion in Ukraine.
20:34
Where's that money going to come from?
20:35
Inflation is not going away. I don't care what that Janet
20:39
Yellen the box says. Please don't pull her out, Says
20:43
inflation is not going away. We're going to be paying higher
20:46
prices. We're not going to see until
20:48
probably after the holidays. Come January, watch out.
20:52
Inflation's going through the roof.
20:54
We're going to hyperinflation and that is just going to take
20:58
silver and gold to the roof. Yeah, Yeah.
21:01
I pulled up a chart here that shows gold versus debt.
21:04
This came from our friend Chris Marcus at Arcadia Economics.
21:08
He didn't make the chart, but that's where I found it.
21:10
The, the, the, the owners up in the upper right corner.
21:14
But it shows the gold price in yellow versus the US public debt
21:19
in black. And it shows how the gold price
21:21
just is, is followed. And we know gold is the
21:23
godfather, right? I mean, the godfather of the
21:25
precious metals when we talk about silver, platinum,
21:28
whatever. But what's missing on this chart
21:32
is the inflation rate. But as gold has gone up, we know
21:36
that the value of the dollar has gone down.
21:39
And another way to to to say the value of the dollar has gone
21:42
down is to say that we've had big, big inflation.
21:46
And, and it's not going away. I mean, you know, every, it's,
21:49
you know, it seems like every time we buy something, it's just
21:52
gone up another couple pennies here, couple pennies here.
21:54
I mean, it's, it's getting so ridiculous of what stuff it's
21:58
costing Ron. You know, I mean, I but I can go
22:01
back to the day that I met you, Ron, when I sent you that head
22:04
of lettuce over my local grocery store for 499 for a head of
22:07
romaine lettuce. I mean, it was ridiculous.
22:10
And eggs. Eggs are still going up, I mean.
22:14
Yeah, so I'm, so I'm, I, I just started the channel.
22:17
It was about nine months old. And I'm, and I'm sitting in my
22:20
living room upstairs, you know, and, and I get an e-mail from
22:24
this guy and he says, look at this, had a lettuce, blah blah.
22:27
Would you, would you, would you trade one ounce of silver for
22:31
five heads of lettuce? And I thought, who is this guy
22:34
sending me this e-mail? So I emailed him back and that
22:37
was the beginning of what has become a very fruitful and
22:40
loving relationship based on silver and gold with Coin
22:43
Chopper. That's right.
22:44
That's how it started. I mean, you know, I mean you,
22:47
you had a little over 8000 subscribers on when I found your
22:52
channel. Look at you today.
22:53
You're over 41,000, Sir. Congratulations.
22:57
And, and just so everybody knows, Coin Shop Chris has his
23:00
own channel, Coin Shop Chris. If you go to YouTube and put
23:04
that in the search bar, please, he's on a big drive to get the
23:07
3200 subscribers by the end of the month.
23:10
You can be part of the Coin Shop Chris mission by just going to
23:14
the Coin Shop Chris YouTube channel and pressing the
23:17
subscribe button. Is that a good?
23:19
Ron for you. Thank you, Ron and thank you
23:21
everybody. I'm about 43 subscribers away
23:23
from that goal. So I think we can do this in
23:25
this video. Thank you very much to all have
23:28
subscribed to me from Ron's basement.
23:30
Ron, you have been a mentor to me.
23:32
Your wife Susie's been a mentor to me.
23:35
You're both great people. Keep doing what you're doing on.
23:39
Well, thank you, Chris. Bring a good message.
23:42
How about this picture? This is going to and then I want
23:45
to get your take on Costco. But where is it?
23:47
Here we go. How about this?
23:49
This came from one of our subscribers, Mark, this article
23:52
from Reuters India seeks the, you know, guys, what do you
23:56
think is going to happen to the silver price in the next 10
23:59
years? I mean, it's just unbelievable.
24:01
Let's just face it right now, right now they're saying what
24:05
250 million ounces of silver are going to be used for solar
24:09
panels alone this year, OK, The, the world only produces or
24:14
whatever it is, 225. The world only produces like 800
24:18
million ounces of silver. It's like one in every 4 ounces
24:21
of silver's going into a solar panel.
24:23
And one of my, one of our viewers sent me this article
24:26
more about this picture, but says India seeks 6000 megawatts
24:30
of peak renewable power supply with storage.
24:33
But look at that, Chris, every one of those panels that you're
24:37
looking at has at least 2/3 of an ounce of silver in it.
24:41
And, and as you look at that picture, you can see that it
24:44
goes off to the right and off to the left.
24:46
And, and we know that there's these, these solar farms in
24:49
India and China, they're the size of Manhattan and everything
24:52
else. I mean, what do we have to look
24:55
forward to with silver? It's going to go up in price.
24:58
You know, they, you know, the Fed can print all the dollars
25:01
they want and that's what they're doing now.
25:03
You can't print silver. You can't print gold just can't
25:07
do it. So I mean, you know, at some
25:10
point, yes, I, I think the LBMA and the people will run the
25:15
Crimex, Comex, whatever you want to call them.
25:18
I call them a bunch of clowns, but you know, they're going to
25:20
keep the price. They can only suppress, suppress
25:22
the price for so long before it blows up.
25:26
And that's, you know, that's the bottom line.
25:29
They can only hide it for so long.
25:31
And with Bank of America, Citibank and Chase trying to
25:35
suppress the price, they're these banks are not healthy.
25:39
All right, These, these banks are not healthy at all.
25:42
And when, when these and, and the Fed will come in and try to
25:46
bail them out once again. But you know what?
25:49
The American people need a bailout now.
25:51
It's time for us to have a bill out.
25:53
I mean, you know, help us out and I'll, I'll digress later on.
25:58
That's not, that's not, that's not going to happen.
26:02
You know what, when you talk about all the printing, let me
26:04
pull this up because we, we've been following this statistic
26:07
very closely. I'm going to run out quickly to
26:10
the US debt clock and we're going to go over here to the
26:14
right and we're going to the dollar.
26:16
If you guys can see my yellow finger circling, the dollar to
26:20
silver ratio yesterday was at 675.
26:23
This just continues to skyrocket.
26:26
For the millionth time, I'm going to tell all the basement
26:28
dwellers that measures that $680.
26:31
That means that for each one ounce of silver that's being
26:35
produced this year, there's $680 being created through the M2
26:40
money supply. I mean, it's just astounding.
26:43
And you know, the reality is that back in the day, if they
26:48
wanted to create a new dollar, right, they needed to have the
26:51
gold or the silver to back it up, right?
26:55
That's at the coin shop. Silver certificates.
27:01
See, at the top it says silver certificate.
27:04
Sure. It looks like a dollar, and it
27:06
says it's payable and silver. Go ahead.
27:08
I'm sorry, Chris. Bring up the deck clock from.
27:12
Yes, Sir. Yes, Sir.
27:13
I'll be right. I'll be right.
27:14
I'll be right on that. There you go.
27:16
And that's the one I just all right, go, just go to the second
27:19
column, Ron in in the third box where it's a yellow, the second
27:23
group, the what numbers go over, go over.
27:28
Tell me what you're looking for. The the new, the, the new cars,
27:33
there's cars it's in, it's. There's about 6000 columns on
27:37
this thing. Right there, right there.
27:39
Right where? Right there where it's a green
27:42
on top and yellow is a yellow box.
27:46
Green on top with the yellow box.
27:48
Right there. You're right.
27:49
You're just. You're just right there.
27:53
Move your arrow right there, OK? I love you, Chris, but there are
27:57
about about 25,000 numbers on this and you're saying right
28:00
there. Move your arrow over towards the
28:04
my right. OK, that would be my right.
28:06
Right there, that box right there.
28:08
Medium new home. Go over to the new car where the
28:12
car's back in 2000. OK.
28:14
Average new car. Got it.
28:16
OK, OK. Thank you.
28:18
Read the Read those two numbers. Average new car now is 50,049
28:25
thousand. That is crazy.
28:27
Average new car in 2000? The year 2022 thousand.
28:33
Now go over to your left. Go over to your left now and
28:36
read what the net the average income was per for American.
28:42
OK, median income. Yeah, right there, 45.
28:47
Today's 40,000 median income, median average income basically
28:52
in 2000 was 32,000. So yeah, the the average income
28:57
has gone up by, oh, about 30%. Where?
29:03
Where has the new car gone? Up 50%.
29:05
More. No more.
29:07
More than 50. More like 120% More than
29:12
doubled. OK, Yeah, you're right.
29:14
You were right. A hundred, 120%.
29:17
So we think inflation is going away.
29:19
It's not. It's not, folks.
29:21
No, no, no. But everybody's seen my example.
29:24
I mean, you know, the the debt level is going up.
29:27
I mean, let's just check. Oh yeah, still going.
29:29
It was a 35 trillion, 411 billion this morning.
29:33
The debt, the debt levels going up.
29:35
And as the debt level goes up, guess what happens next?
29:38
Everybody? The interest expense goes up and
29:41
that makes the, the, the deficit go up more, which makes the debt
29:45
total debt level. It's a, it's a, it's a
29:47
Whirlpool. That was, that was the, the take
29:51
away that, that, that, I mean, it's a Whirlpool.
29:53
That's the new word of the day for, for, for here in the
29:57
basement. It's literally turned into a
29:59
debt Whirlpool. Yeah, it's, it's awful.
30:03
I mean, we, we got high credit card debt.
30:06
What I'm seeing now at the shop is more and more people are
30:09
starting to purchase on credit cards, which is not that great,
30:13
but we accept credit cards, so you know.
30:16
Yeah, yeah. It is, you know.
30:19
It is. It is.
30:20
What it is, what it is there, but it's a 3 1/2 percent fee on
30:23
top of it. But you know, I wish people
30:24
weren't doing that, but you know, it's still a sale for the
30:28
shop. But you know, we can't tell
30:29
people what to buy when this, when to buy it.
30:31
And I use question when I put it on credit cards.
30:36
That's all I would say. Hey, I got a quick question for
30:38
you, Chris, about the coin Shop. Do you guys sell pancake mix at
30:43
the coin shop? Pancake mix No.
30:46
No. Do you sell?
30:48
Do you ever sell like rib eye steaks or anything like that?
30:52
No, but we got special we but we got something special for just
30:55
for you, Ron, My the My Little Pony with purple hair.
31:01
Do you? Guys, do you guys sell those big
31:05
giant packages where there's like like 100 rolls of toilet
31:09
paper in there? No that that would be Costco.
31:13
So why is Costco selling gold and silver, right?
31:17
That's my question. Why are they not staying in
31:19
their lane? Why are they selling gold and
31:21
silver? I think it's great.
31:22
Do you know why I think it's great?
31:24
It gets the word out to more and more people.
31:26
Look, I just looked at the Costco thing this morning.
31:29
I think it was they sold in the last 30 days.
31:31
They sold 7477 hundred and 4074 thousand ounces of gold last
31:39
month, something ridiculous like that.
31:42
They but, but they sold. I mean it's I'm glad they're
31:44
selling it. I mean I Costco is not a
31:47
competition to us. All right.
31:48
I mean people think that's more competition.
31:51
No, that the more people who sell silver and gold aren't
31:54
honestly, it's going to get to the ward out to more and more
31:58
people. And I love it because I'm, we're
32:01
starting to see more new faces every single day in the shop.
32:05
And, but we are starting to schedule appointments again
32:08
before hours and after hours to help people out with quick
32:13
questions. I've always said, Ron, on your
32:15
channel, my channel, if a coin shop, especially your local coin
32:19
shop can't give somebody 1015 minutes of their time, then
32:23
maybe you should not be doing business with that shop at all.
32:28
You know, So we're we are scheduling out appointments how
32:31
people out this week. Yeah, Costco Gold Rush
32:34
continues. I thought this was pretty funny.
32:36
So what I what I think's important about the Costco Gold
32:40
Rush is I agree with you, right? That that, that it means it just
32:44
shows that to me cost the average Costco customers,
32:48
middle, upper middle class American and that they are
32:52
waking up to silver, that they are waking up to gold.
32:56
But I think there's something even more important going on
33:01
with these Costco numbers that are being presented, Chris.
33:06
Now, what's your opinion on that?
33:09
If you read right and what we're seeing and I have an article
33:12
from Yahoo Finance and I got this one from the whatever
33:15
Seattle magazine, I guess Costco's based out of Seattle.
33:18
Anyway, they're talking about it.
33:20
It's coming up on their earnings calls and for an earnings call
33:24
means after they for the report, their quarterly earnings, all
33:28
the Wall Street analysts, especially with a company like
33:31
Costco, right, which is owned by by by most all the big
33:35
investment firms around the world.
33:38
Costco is a huge company. So all these analysts listen in
33:42
to these conference calls and they're talking about it on the
33:46
conference call. So we've got all these big Wall
33:48
Street analysts, investors who are hearing that the sales of
33:54
gold, they're hearing about gold.
33:56
I mean, can you even imagine? Can you even imagine three or
34:00
four years ago, right? Nobody in their wildest dreams
34:04
would have thought that on a Costco where they want to hear
34:07
about the 100 pack of toilet paper.
34:09
How's that selling? They want to hear about the the
34:12
pancake mix because they they hear that the coin shop Chris is
34:16
overcharging for pancake mix at the at the at the coin.
34:19
Shop they want to go to. Costco, right?
34:21
That they'd be talking about gold and silver on a Costco
34:26
earnings call? Are you kidding me?
34:29
So what's happening is as it is, that is that the silver and gold
34:33
movement is percolating even more.
34:36
It's like a crock pot, Chris. It's like when you make your
34:38
chili, you know, when you turn the crock pot on and it just
34:41
starts to get warm and just starts to bubble a little bit,
34:45
right? That's where we are right now
34:47
because here. But this is funny.
34:48
This is really funny. So one of the analyst here, I'll
34:53
just read this. He may as well have been
34:54
referring to Costco's ever increasing sales.
34:58
Let me highlight this for the benefit of our viewer and
35:01
watcher. This is funny.
35:03
Hold on here. I got to get my crayons out.
35:07
How do I do that? Hold on my fingers, my
35:10
microphones in the way. OK, see if I can do it now.
35:13
Super simple highlighter. And what color do you want,
35:16
Chris? Do you like Cayenne?
35:19
That's fine. Do you know what color is
35:21
Cayenne? Do you know?
35:22
I have no idea. I'm, I'm going to be honest with
35:25
with you. I didn't either.
35:28
It's blue. OK, wait a minute.
35:31
Allow. OK, that's not blue, that's
35:34
Gray. That's blue on my screen.
35:36
He may as well been referring to to Costco's ever increasing
35:39
sales of gold bars. The Issaquah based warehouse
35:43
chain said in its earnings call yesterday that sales of gold
35:47
bars rose quote, UN quote, double digits, which I'm going
35:50
to say that means 99%. But anyway, it could be anywhere
35:53
from 12% to one or what, 11% to 99% in the company company's
35:58
fiscal fourth quarter. Excuse me, Prompting analyst
36:02
Greg Mielek to ask the CEO, Ron Vakris a not so serious
36:08
question. This is funny.
36:10
The analyst said, you called out the gold bullion again, again,
36:13
right? Melek asked.
36:15
I'm just curious, are there any plans to maybe bring Kirkland
36:19
Signature, which is Costco's private label brand, into the
36:22
gold bullion market? But the CEO didn't bite.
36:26
He said, Nope, no plans at this time.
36:28
So one of the analysts is asking him if if Costco is going to
36:32
start making their own private label, their own private label
36:36
gold bars. Yeah.
36:38
Well, that could be easily. That could be easily done.
36:41
That could be easily done, you know.
36:44
Right, right. Are you laughing?
36:45
I thought that was pretty funny. Well, I think it's like, like,
36:48
just like I said, Ron, I, I think it's a good thing because
36:52
that opens up more eyes to more people.
36:55
And I'm starting to see, especially the past couple
36:58
weeks, more and more people are starting to come in and trying
37:03
to learn and asking questions. And so, I mean, we haven't had
37:08
to do this for about 8 months runs schedule people out for
37:11
private, you know, talks and stuff like that 'cause we just
37:14
some, sometimes when people come in, we're so busy, we don't have
37:17
the time right then and there. So we just let them know we can
37:20
make an appointment and we can talk for 10-15 minutes.
37:23
So I mean, that's what we're trying to do.
37:25
That's what our own is trying to help people out with, you know,
37:29
with that. But you know, a lot of coin
37:32
shops won't offer people that because it is time.
37:35
It is very time consuming. We are overworked right now.
37:39
It is so busy at the shop. Look, I won't say exactly how
37:44
much we sold to this today. I'll release that tomorrow's
37:47
video on my channel. That was over 100,000 run again
37:50
today. Wow.
37:54
Well, and I know, I know from knowing you over the years,
37:58
that's a big day, right? That is, that is a big day for
38:01
us. Yes, yes.
38:03
Wow. So, so let me back up here.
38:05
What I'm hearing you say is that on the on the retail investment
38:09
side, you are seeing a definite pretty major upswing in demand
38:15
for precious metals. Is that accurate?
38:19
That is accurate, yes. OK.
38:22
Now I want to tell you. I want to tell you what I've
38:24
heard. What's the guy's name?
38:26
He's not. Some people in the silver and
38:28
gold community do not like this guy.
38:30
I like to listen to him because I like to listen to both sides
38:32
of the equation. There's a guy named Jeff, Chris
38:35
Christian, Christian, who runs a organization called the CPM
38:39
Group. I think he's an ex Goldman Sachs
38:41
guy maybe or Wall Street, whatever.
38:43
He's has this big consulting firm where he talks about, you
38:46
know, people pay him a lot of money at big investment
38:49
companies to give his predictions on silver and gold.
38:52
And he's actually saying that he thinks silver will do very well
38:56
next year. And, and he's saying, he says
38:59
the reason why is investment demand.
39:03
That has been the missing link. We, we actually did well up to
39:07
this point without the missing link, without the investment
39:11
demand and, and in the local coin shop, the retail demand
39:16
side of it is an important part of it.
39:18
We're also talking about ETF demand.
39:19
But what I'm hearing from you is that from the local coin shop
39:23
level, at least from your experience, what we're seeing is
39:27
a pickup in demand for silver. In in gold, in gold.
39:33
I mean, platinum is not doing as well.
39:35
Platinum is not doing as well. But, you know, silver and gold,
39:39
yes. And it's been most of the summer
39:42
months. It's been a lot of silver going
39:43
out the door. Wow.
39:45
Since probably the first week after September hit, I, I, I
39:50
thought we have a pick up on gold and we have had to pick up
39:53
on gold and it's been silver and gold a lot.
39:57
Very little probably and we're almost at the end of month long.
40:01
We probably have sold 4 ounces of platinum all month long.
40:04
There's no interest in Platinum for what I'm seeing right now.
40:09
None. Yeah, I think.
40:11
Platinum, Platinum, though, is the dark horse.
40:16
I'm hearing and reading. You know, I think the platinum's
40:20
been kind of beaten down a little bit over the last couple
40:25
years. But what I'm hearing especially
40:27
from like a deficit perspective and from a number of other
40:30
factors that platinum could really be could be the dark
40:34
horse here of the long shot that like really impresses.
40:37
I mean, if you think silvers been kind of not not yet reached
40:42
its full potential, they're saying platinum has the
40:45
potential to really blast off. But you know, we'll see how
40:48
that. All, I'll give you my prediction
40:50
on that one. I just don't see it.
40:52
And the reason why I don't see it that way.
40:55
Platinum looks like too much like silver when you look at,
40:58
from the far away. If you, you, you can't tell a
41:01
difference if you're not closed up at reading what's on that
41:03
silver bar or that coin. It's very hard to tell the, the
41:07
difference from 5 feet away when you really can't see what's on
41:10
that coin itself or that bar if they look exactly like the same.
41:15
And I think people and I, I and and I think people, there's not
41:20
enough really news out there on platinum like there's on silver
41:24
and gold. I think that's another thing
41:26
that platinum has going against it.
41:30
Now, could we see platinum go up?
41:32
Yeah, absolutely. I'm not saying it won't go up.
41:35
But as of right now to the rest of the year, I don't think
41:37
platinum's going to probably trade from where it's at now,
41:40
maybe gain 100 bucks before the end of the year's out.
41:43
That's just my prediction right now.
41:46
Right, right, right. What do you think about this,
41:49
this idea that was floated by, I can think it was Benjamin
41:52
Netanyahu, right, the president of Israel to to, to outlaw
41:57
their, I think it was 200 shekel bill, which is the equivalent of
42:00
like a $50.00 bill in the United States.
42:04
And that there was this proposal that they were going to pop
42:06
possibly get rid of cash all together.
42:09
And then they even brought up that they would want to ban
42:12
people holding cash alternatives, things like silver
42:16
and gold. Did you hear about that last
42:18
week, Chris? Yeah, I but I can see the cash
42:21
portion of it all. I think it's coming here on.
42:23
But banning people that have silver and gold, I'm sorry, I
42:27
don't see that going to happen anywhere really, because what
42:31
they're going to go knock on everybody's doors and demand all
42:33
the silver and gold back. No, that ain't going to happen.
42:36
I'll. Give him this, I'll give him
42:38
this. I want to give him nothing.
42:41
I'll I'll give them Fiat. You want my Fiat crap, I'll give
42:44
you my Fiat crap instead. I'm but no, I mean, I just don't
42:47
see that happening on a mass scale in any country because,
42:52
you know, I mean, they really don't know who has it and who
42:54
doesn't have it. I mean, you know, yeah, they but
42:58
they could Co-op all these online bowling dealers.
43:00
Yes, they could shut down the coin shops, but I don't see
43:03
there's too many people now, Ron, it's not the 1920s and
43:08
1930s when they actually went 1933 they but they did this.
43:12
We have too many more people that know about silver and gold,
43:16
know the history on it. I just don't see that happening.
43:20
Yeah, yeah. No, I don't either.
43:22
I think that from what I've read that back in the 1930s, people
43:26
trusted the government a lot more and we're much more
43:29
nationalistic. I think that I'll just say that
43:32
most silver and gold stackers now maybe have a little bit
43:38
larger degree of a frustration and suspicion towards the
43:43
authority figures who who, who if that were ever to happen
43:48
would be the people that are would be telling us to turn in
43:51
our silver and turn in our gold. But I did find it disturbing.
43:55
I mean, you know, Israel is a, is a, is a, is a, a banking ally
44:00
of the United States, I would say kind of a monetary ally of
44:04
the United States. And for them to even for their
44:07
president to propose this and then to have this, you know, and
44:12
I didn't read the specific proposal, but according to the
44:15
news reports that I read, part of it was, yes, that that that
44:20
we're also going to disallow people from stacking silver and
44:27
gold, which was a little disturbing to me, right?
44:30
Because I think that as we look here in the United States, yeah,
44:33
we are definitely going away from printed money, right?
44:37
These paper dollars that we're all used to.
44:39
And even coinage. I think it'll happen within the
44:42
next 5 to 10 years easily, that everything will be electronic.
44:46
And you probably eventually, you know, some type of, of soft
44:49
transition or fast transition into a CBDC environment.
44:54
And I think that'll be very positive for silver and gold
44:58
because silver and gold will at that point be really the only
45:01
private form of physical, you know, people want to hold
45:05
something that that is of value. That'll be the only option they
45:09
have. What else are they going to
45:09
hold? Barrels of oil?
45:11
I mean, you can't hold the Bitcoin in your hand, right?
45:15
I mean, you can't hold hold the digital dollar in your hand and
45:19
you can't hold a Bitcoin in your hand.
45:21
You can't, you know, what else are you going to hold?
45:23
The bushels of wheat, you know, land.
45:26
Are you going to hold land in your hand?
45:27
No. When it comes to like anything
45:29
portable that you could use to to to that, that would be a
45:32
store of value. At that point, silver and gold
45:35
would be the only game in town. Well, when certain people say
45:40
they they're going to try that being silver and gold, this is
45:43
the way I look at that 10 this also, if you are a new stacker
45:49
just getting into it and you heard that, you're going to have
45:51
a second thought. But you and I and A lot of the
45:54
viewers that are watching now have been stacking for a while.
45:59
But if if a new stacker just comes in and here's that line
46:02
from somebody, they're going to that's just a scare tax if not
46:06
to get them there. So our politicians, the world's
46:09
politicians are so scared of silver and gold.
46:12
They don't want us to own it. That's the they're so scared of
46:16
it, Ron. We have the power when we hold
46:20
silver and gold and they don't want the population to have the
46:24
power. That's it.
46:27
Yeah, no, I agree with you. I, I, you know it.
46:31
To me it became very clear probably in the last two years.
46:34
I'd always heard that that like gold and silver were the the
46:38
enemy, I guess you would say to the dollar.
46:42
And and as I learned more and more and dove deeper and deeper,
46:46
it became very clear, right? Like they don't want, you know,
46:50
they want, they want the paper, they want the electronic, the
46:53
digital, the new CBDC. That's what they want people to
46:57
use and believe has value. And it worked pretty well.
47:01
I mean, you know, hey, look, look, I'm still, you know, I
47:04
still when I, you know, you flash a big pile of these in
47:08
front of me and my eyes are going to light up, no doubt
47:10
about it. You know it's.
47:11
But it's they're accepted everywhere right now.
47:14
Yes. That's why what's going to
47:16
happen when it's not accepted anywhere?
47:18
Your eyes won't be you, you, but your eyes won't say that's full
47:20
of paper, that's what. That's what your eyes will say
47:23
then. Well, right, It's recency bias,
47:27
right? We believe it's valuable because
47:29
it's been valuable our whole lives.
47:30
And I'm not saying it's going to go away.
47:32
I'm not saying the Sky's falling.
47:33
I know there's different people with different opinions on
47:35
what's going to happen with our dollars, whatever, but their
47:39
only reason, I mean, I believe it's valuables because I was
47:44
taught that it was all of us were from a very young age and
47:48
and the reality is it has been to although less and less and
47:51
less valuable, but it has been valuable throughout our whole
47:55
lives. Will this be valuable 50 years
47:59
from now? I don't know.
48:00
You know, was this valuable 300 years ago?
48:03
No, I mean, somebody probably would have thought, wow, that's
48:06
really cool that printing they did on that 300 years ago.
48:09
But in terms of value, if you know it would be limited, was
48:14
this valuable 50 years ago? Yes.
48:19
Absolutely. Was this valuable 300 years ago?
48:23
Yes. Was this valuable 1000 years
48:26
ago? Yes, absolutely.
48:29
Will this be valuable 1000 years from now?
48:33
Probably. You know, I mean, who knows?
48:36
So hey, Chris, thank you again for joining us today.
48:40
Thank you to everybody who's joined in on this live stream.
48:43
It's always so great to have the basement dweller community
48:46
together. It's Saturday night, kind of
48:48
early afternoon for a lot of you guys.
48:51
I think I saw our friend Pound of Gold from the Pound of Gold
48:54
YouTube channel on here. Go check out his channel.
48:57
He's putting out content every day.
48:59
Of course, we are all involved in trying to help Coin Shop
49:03
Chris get to his September goal of 3200 subscribers.
49:07
So don't forget, go to the Coin Shop Chris YouTube channel,
49:11
check out some of his videos, subscribe to his channel.
49:14
Chris, thank you for being here. Thanks to the moderators for
49:18
being on here. This has been a great live
49:20
stream. Any parting words for our for
49:22
our guest today, Chris? I want to thank you again first,
49:26
Ron, and to everybody who's watching, thank you, thank you,
49:29
Thank you for being part of Ron's Basement, and thank you
49:32
for coming over to my channel too.
49:34
That really means a lot. Keep watching, folks, because
49:37
Ron will keep you folks updated. I'll keep you updated.
49:42
And you know, these two channels, you know, really,
49:44
really trade back and forth when you try because Ron does 1, he
49:49
does more of, I would say tackling side.
49:52
I deal with more of the coins and both channels are great
49:55
channels. Thank you, Ron.
49:57
Keep doing what you're doing, my friend.
49:59
You know, you've been going, you've been busting your butt,
50:01
Ron, and I appreciate that. Things could get very
50:06
interesting in the next six months.
50:09
I was wrong. You know, at the end of 2023, I
50:12
said 2024 is going to be a crazy year, crazy year.
50:16
And it it has been crazy. I mean, we have wars going on in
50:19
the world. We have the big bricks meet, but
50:20
really and it's been a crazy good year for the silver and
50:25
gold price, right. Like gold's up big this year on
50:28
a year to date basis what 30% I think is that silvers up a
50:31
little bit more than gold. So it's been a crazy good year
50:34
from that regard, but we haven't really we haven't we we haven't
50:39
yet to feel to see any like major event occur this year.
50:44
There's been some small things, but you know, nothing that like
50:48
like we experienced in like O seven O 8 or even 2020.
50:53
And I, I don't know, I mean, maybe I'll be wrong for the
50:56
whole year and I know a lot of people this be a crazy year as
51:00
well, but we still have three months left and.
51:04
The train is moving very slowly going.
51:06
Yeah, yeah, yeah, it could be, could be an interesting end of
51:10
the year. So thank you, Chris.
51:12
Okay, we'll look forward to seeing you next time.
51:15
Buckle up, buttercup. Thank you to everybody.
51:17
For being here. Have a great rest of the weekend
51:22
and we'll see you soon.