Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **ALERT** SILVER Just had a MASSIVE Change... (India Shocker) $8,000 Gold - Precious Metals News

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**ALERT** SILVER Just had a MASSIVE Change... (India Shocker) $8,000 Gold - Precious Metals News · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
The epic run in the silver price and gold price are just getting
0:06
started right now. In this video live stream, we're
0:10
going to look at a big, big number of reasons that indicate
0:14
to us that we could be just in the first or second year of what
0:18
likely could be a 10 year, a decade long bull run in the
0:22
precious metals. And there's evidence of that
0:25
being the case in the past, but there's even more evidence that
0:29
right now we're in an even more extreme position where we could
0:34
see higher silver and gold prices.
0:36
Look, I'm not a financial advisor, don't make any
0:38
financial decisions, but I am your friend and I love the fact
0:42
that you're joining me down here in the virtual basement today.
0:45
Please subscribe to the channel, give the video a thumbs up, and
0:50
I'll be back in the real basement here before you know
0:53
it. But let's start with JP Morgan.
0:55
Then we're going to hear about big news out of India.
0:58
Then we're going to hear about big news out of Australia and
1:01
even bigger news. Yes, it finally happened here in
1:05
the United States. All of which can put a big smile
1:08
on the faces of us precious metals investors.
1:11
Let's start here. We have this from the Wall
1:15
Street gold breaking JP Morgan. This is breaking news today is
1:20
for our forecasting gold could double by the year 2028,
1:25
targeting $8000 per oz. They say growing demand is
1:30
investors hedge against stock mark stock market chaos and the
1:34
and the smart money is rotating early.
1:37
The herd will follow the herd of what I ask you, my fellow
1:41
basement dweller friends. And again, thank you for being
1:43
down here with me. The herd of the sheeple, your
1:47
Uncle Fred, your Aunt Mary, your next door neighbors.
1:51
We call those the sheeple. And when they join us, it's
1:56
going to be very, very exciting. But let's go to more good news
2:01
on the same subject. This comes from MSN.
2:03
This is mainstream media, MSN, mainstream media.
2:08
But MSN, they're also covering the story.
2:11
The headline here says gold go, I will get back on there.
2:17
How do I close anyway? Anyway, at the bottom of the
2:19
screen you see the headline gold just stumbled.
2:23
AJP Morgan strategist says the metal could double in value.
2:28
But it's not just JP Morgan because they talk about our
2:33
friends at Goldman Sachs as well.
2:37
Hold on a second, let's get to that.
2:40
Where is it? Here it is.
2:41
I'll highlight it. My highlighter is not working
2:43
right now in blue since its biggest one day drop and we're
2:47
going to look at that too, guys. We're going to, we're going to
2:49
cover what happened on Monday and why we don't have to worry
2:54
about that happening again for a long time.
2:57
One day drop and over a decade. On Tuesday, the debate
2:59
surrounding whether gold will regroup and push higher.
3:03
Goldman Sachs, OK, we're going to get to JP Morgan next.
3:06
For one is sticking to its end of 2026 target, that's next year
3:13
of $4900 per oz and sees upside risk, upside risk from central
3:18
bank as well as an an institutional investor demand.
3:23
So Goldman Sachs is calling for $5000 gold by the end of 2026.
3:27
I rounded up, but they're also saying that it the risk is to
3:31
the upside, meaning they could even go higher.
3:34
And then we have this. We just talked about the little
3:37
more info in here, but that segues into the call of the day
3:42
from JP Morgan strategist led by Nicholas.
3:45
I can't even pronounce that name.
3:46
Panorama glass of glue. Whose team says the price?
3:51
I bet the riders hate having to write his name down.
3:53
The price of gold could more than double in three years as
3:57
investors increasingly use it to hedge equities.
4:02
So what they said was basically people are moving to gold and
4:06
what happens for gold is good for silver.
4:08
We're going to talk about Australia, we're going to talk
4:09
about India, we're going to talk about the United States.
4:12
But investors are moving to gold to hedge their their investment
4:17
bets that they have in the stock market.
4:19
And we get data all the time. There was 1, I don't know, it
4:21
was Bank of America or somebody just the other day said it's
4:24
just one half of 1% of the money in the world that's currently
4:29
invested in US equities were to go to gold, that gold would like
4:32
instantly go to $6000 per oz. So everywhere we look, it's
4:36
absolutely crazy. But let's talk about why Monday
4:39
was no fun for gold and silver investors.
4:42
They knocked silver down, what, 2 or $3 per oz?
4:44
Gold's been getting got whacked, but gold is still in very good
4:48
shape. However, look at this.
4:50
And This is why we don't have to worry about that happening again
4:53
for a very long time. No guarantees, but statistics.
4:58
What we do know is this. Here's a great article from I
5:05
think it's metals and miners. Yes, gold's beat down yesterday
5:09
was a once once in 63 years statistical anomaly.
5:15
Meaning what happened yesterday should only happen once every
5:18
60-3 years with 0 fundamental justification, right?
5:22
There was no fundamental change that happened in the world to
5:26
affect the price of gold or silver and designed with a
5:30
purpose. It was calculated brutal and
5:32
stunningly effective on the gold market.
5:35
And then it's got a couple quick paragraphs.
5:37
Yesterday, the gold market experienced A statistical
5:40
anomaly of epic proportions. The price of gold and silver
5:44
plummeted by over 6% of violent move that, according to
5:48
statistical analysis, represents A5 Sigma event.
5:53
In plain English, this is a move so rare that it should only
5:58
occur once every 60-3 years. It was a calculated, brutal, and
6:04
stunningly effective on the gold and silver market and the
6:08
collective psyche of global investors.
6:10
It was all a lie. And the key take away here is
6:15
basically guys, there was no reason why silver got whacked.
6:20
There was no reason why gold got whacked.
6:22
But remember at the chart that we've looked at many times,
6:26
right, all any big bull market that's ever happened in gold or
6:30
silver, The most recent one we looked at was the big mark, the
6:33
big upswing. Silver from 2001 through 2011
6:39
went from under $5 per oz to $50 per oz.
6:42
But during that 10 year period, there were many, many times when
6:47
the price of silver got whacked down 10%, nine percent, 12%, I
6:51
think even like 2530%. But it's so it's never going to
6:56
go straight up. I know Monday was painful, but
6:58
nonetheless, right. It's part of the it's part of
7:01
the game. And the important part is if you
7:04
you make up your own, your own mind, right?
7:07
Again, I'm not a financial advisor, but if you believe in
7:11
the long term story for Silver, you got to be prepared for some
7:15
tough emotional times like we went through Monday and stay the
7:19
course, right? What you don't want to have
7:20
happen is if you really believe in something long term, but your
7:24
emotions get the best of you and make an emotional decision,
7:28
which is usually never a good idea when you're talking about
7:31
investing. And here's some more proof of of
7:34
what happened on Monday from the silver market from our friend,
7:38
the dude who shared this. I wonder how much this is Great,
7:43
I'll just put it in his words. The silver market traded
7:46
859,000,000 oz on Monday. That is the equivalent of a more
7:53
than a whole year's mining output.
7:56
OK, the mines working seven days a week, 365 days a year generate
8:02
less silver production than the paper market traded in one day
8:08
to manipulate the Sprite price down a few Fiat dollars.
8:12
The Comex had 480 deliveries. The LBMA, the 90 million Market
8:16
Association 1112 yesterday is the most obvious sign of silver
8:22
and gold manipulation I've witnessed.
8:24
Wow, did the Plunge Protection team come in.
8:28
And again, this data is from Tuesday, October 21st.
8:33
Make sure I got you on the right screen, which I do.
8:36
Let's run out since we're live here.
8:39
I'm recording this at 1:00 AM Paris time and just get an
8:43
update on what's going on in silver and gold.
8:49
All right, that's the S&P. That's not what we want.
8:52
And I don't have you on the right screen, which I do now.
8:55
Sorry about that, guys. Well, you didn't miss anything
8:57
because I'm still working my way to the silver and gold price.
9:03
Yes, OK, so silver right now in the futures market at $48.52.
9:09
I mean, look, we got to remember, let's just look back,
9:14
OK? One year ago right now, we were
9:18
at $35 silver in April of this year, so just six months ago, we
9:24
were at, what, $29.00 silver. So the price of silver has
9:29
essentially gone up, what, $20 since April alone.
9:34
Pull backs are normal. Pull backs will happen.
9:37
We got to be prepared. It's all going to be OK.
9:41
Now let's talk about what's going on in India, right?
9:44
Remember India, 1.4 billion people in India, big breaking
9:49
silver news out of India. There's a there's two reasons
9:52
why this is important. But now apparently the banks in
9:56
India, OK, are letting people use silver as collateral for
10:01
loans. This is huge, huge news because
10:05
in the past that had only been the the case for gold.
10:08
So now if you live in India and there aren't 1.4 billion people
10:11
in India, they use their metals as an investment, as a store of
10:16
value. Way different.
10:17
It's like ingrained in their culture.
10:20
And now they can use silver, which is a big deal.
10:23
But there's a bonus factor on all of this.
10:27
And let's get up the right article.
10:31
Here we go. Make sure we got the screen
10:35
shared, which we do OK look at the headline.
10:39
I think this came from this is ones from the silver Academy.
10:42
India unleashes silver as banking collateral with a 10 to
10:47
1 gold to silver ratio. That's the other.
10:50
So they're letting people use silver as collateral, but
10:53
they're doing it at a 10 to 1 silver ratio.
10:56
Declare silver a global monetary metal.
10:59
India sets silver as collateral for bank loans, capping gold at
11:03
1 kilogram and silver at 10 kilograms, creating an industry
11:07
shaking. 12:50 monetary metal benchmark.
11:11
OK, what's crazy about this? Think about it essentially,
11:16
right in India, you're silver now is as good as cash, okay,
11:21
You can take it to a bank and get a loan, I think up to like
11:24
$3000. But remember, in India, that's a
11:27
lot of money to a lot of people and it basically converts your
11:31
silver into cash. But it's doing it at a 12:50
11:36
ratio to gold, OK? The current price is like what,
11:40
85 to 1? So what it's basically saying
11:44
with India's monetizing metals, OK, you could make that
11:47
argument, but they're doing it at a 12:50 ratio.
11:51
If silver was at a 10 to 1 gold to silver ratio right now, what
11:58
it would be 400, $400.00 per oz. I've got the I've got the I've
12:06
got the thumbnail for this for this live stream video.
12:09
I'm going to release this here in just about 1/2 hour, which
12:11
will be probably evening for most of you that are in the
12:14
United States. So let's keep an eye on that.
12:18
You know what, I forgot to take a look when we were out there
12:20
also as well. OK, let's make sure the price of
12:24
silver is not gone to $400.00 per oz.
12:28
We're going to go to Kitco and look at the spot price right now
12:31
live as I'm recording this almost $49 per oz and and we
12:37
need to look at the hold on here.
12:39
It's been a little bit since we've looked at our friend.
12:42
Oh, here we go. Great information from the
12:44
Oriental Ghost from overnight. He said a night trading on the
12:48
Shanghai Gold Exchange silver, which is their physical trading
12:51
market leads the silver higher than at the Shanghai Futures
12:56
Exchange. So we are still in this
12:58
backwardization. I'm not going to pull the charts
13:00
up again, but I checked right before I went on the spot price
13:05
in London right now is indeed higher than the futures price in
13:12
New York. That means we're in
13:13
backwardization. But when we look at, and that's
13:17
the same case in China, right, the physical market is higher
13:21
than the futures, right? Yes.
13:24
So it's in backwardization there, which means there's
13:26
people concerned about actually getting the physical metal.
13:30
And sure, hopefully I got Yep, I do have you on the right screen.
13:34
If we look at the data, the most recent data from October 23rd
13:39
from China, this is the Shanghai Gold Exchange.
13:44
Oh, maybe we can see it on here. Interesting.
13:46
Yes, we will. There's AG that's silver on the
13:50
Shanghai Gold Exchange. So this is the spot price of
13:54
silver. And if we go down here to silver
13:57
on the Shanghai Futures Exchange, we can see it's just a
14:02
hair higher. So they're actually technically
14:05
not in backwardization, but in balance.
14:09
So interesting developments going on all over the world.
14:13
OK, Next up, we're having a lot of fun following what's going on
14:22
throughout the world as people wake up, right?
14:24
The sheeple are waking up. We're going to look at some
14:27
crazy news reports coming out of Australia about silver and gold.
14:32
Before we do that, I want to say thank you and I feel bad because
14:36
my virtual background I'm missing right there.
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I'm not a financial advisor. Do your own research.
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But I love first mining gold because they've got massive
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their website. And by the way, Keith Neumeyer
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is the founder of First Mining Gold, but Keith Neumeyer is also
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the CEO of First Majestic Silver.
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Everybody in the precious metal sector typically knows of Keith
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Neumeyer. He's super respected, so he owns
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First. I'm sorry, he's the CEO of First
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Majestic Silver. First Majestic Silver owns First
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Mint. It's a mint in Las Vegas, NV
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where they transformed the silver that's dug up by First
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But there's also a lot more. If you go to their store tab up
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I appreciate all the sponsors. I appreciate you guys supporting
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the sponsors. They make my content possible.
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They allow us to get together down here in the basement.
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Now did I beg you to subscribe? If you're still here, which I
17:03
know you are, subscribe to the channel.
17:05
That way you can come back and join us here for more.
17:08
Let's go look at Australia because there's just crazy,
17:10
crazy news coming out of Australia and make sure we got
17:16
you up on the right screen. We'll start here and it gets
17:19
better as we go along. Guys.
17:22
This came from Make Gold grade again, all silver bars in
17:26
Australia. Australia's big, real big, are
17:29
on back order across several bullion stores I checked,
17:32
including the Perth Mint. Only ABC Bullion has bars for
17:37
15% more than others. And he brings up a great point.
17:42
The reason why we want to, we want to stay on top of this.
17:45
Imagine how much more silver isn't being bought as it's
17:49
simply not available, right? It's sold out.
17:53
We're hearing that from all over the world.
17:56
And now let's move on to this one.
17:58
Another one from Make Make Gold great again.
18:01
He's on top of this Australia situation.
18:04
Thank you. Make Gold great on X silver
18:08
dealers in Australia are calling customers excuse me offering 15%
18:15
over spot and look at this news report that came from hold on
18:23
Australian TV King Kong 9888 another great contributor to our
18:29
community to the community brought this one up let's see if
18:32
we can get this see if I can get this on full screen for you and.
18:37
A modern. Day.
18:38
Here we go. Gold rush.
18:39
World's oldest treasures. Unprecedented.
18:45
Unprecedented the last few weeks.
18:46
That's Tina. That was Tina from the Perth
18:48
Mint. That's their national mint gold,
18:50
even. Though the price of the precious
18:53
metal has never been higher, I say what you had.
18:55
The first. Piece of gold.
18:56
You, you, you. Hope we have Diwali festival.
19:00
So it's Indian Diwali festival seen by some investors as a
19:02
safe. Haven Business for ABC Bullion
19:07
is booming. Most people might be coming in
19:10
to buy 5 to $10,000 worth of a bullion at a time.
19:13
For others, now is the time to sell.
19:16
And they do the money at the moment.
19:17
So here, down, cash in, you're gonna regret this.
19:20
Time ever, According to the gold chart, gold.
19:25
Traders say they've. Never been busier?
19:26
Gold traders say they've never been busier.
19:30
Insane to be. Honest, insane.
19:32
The jewellery. Draw might cover a shiny
19:35
surprise for these earrings, ring, bracelet and charms. 1500
19:40
dollars. Not bad at.
19:41
All The price of gold has been on a dazzling upward trajectory
19:45
over the past few years, hitting a record high on Friday.
19:48
And while some expect the rally to continue, others warn the
19:51
shine could fade the. Last time we saw a rush like
19:54
this, the price was not before from that point.
19:57
Again, not a prediction, just. A warning.
19:59
It's hard to say what's gonna happen next.
20:01
Hoping it'll be good as gold. Because you, you know why, guys?
20:05
You know why? It's hard to say what's going to
20:07
happen next because things really are different right now.
20:11
During the 2001 to 2011 rally, we were not in the position we
20:16
were. India and China weren't as
20:18
dominant as they are right now. the United States, and we're
20:21
going to talk about crazy news on the United States, was not in
20:25
the fiscal or monetary situation.
20:27
We weren't having the geopolitical turmoil going on
20:31
during the 1970s. During the 1970s, silver went
20:34
from like $1.50 to $50 per oz. OK.
20:39
We're in a very similar situation right now with
20:42
stagflation. But on top of that, China and
20:45
India in the 1970s, they were a fraction of what they are now.
20:51
Now they're setting the price for gold and silver.
20:55
I'll go ahead and say it right. They are.
20:57
They are the gold and silver market.
20:59
So, yeah, that's hard to say what's going to happen.
21:03
Well, we can listen to JP Morgan.
21:04
They talked about $8000 gold in three years.
21:08
And we have Goldman Sachs. Those are two of the biggest
21:11
financial institutions in the world, Goldman Sachs saying we
21:15
got $4900 gold by the end of next year.
21:18
And you can equate in your mind what that means for silver,
21:22
right? Silver can't get silver is due
21:25
for a slingshot move. It's absolutely crazy.
21:28
But without further ado, let's get to this big news this week,
21:32
big accomplishment by the United States government that we need
21:36
to cover. Hold on here, let's bring it up.
21:39
Peter Spina, great contributor to the gold and silver community
21:42
posted this. 1USA USA $38 trillion in debt and surging,
21:50
right? That is what is going on.
21:52
All the new dollars that are being created are also creating
21:56
more and more debt, which will only decrease the value of the
22:01
US dollar. Let's go out to the to the US
22:04
debt clock here real quick and we'll share the screen with you
22:08
just so we can see it confirm this for ourselves.
22:11
We've looked at this ad nauseam. I hate when this happens.
22:15
Hold on. I can never get this to go away
22:18
when they put an overlay on it, but I'll see if I can click over
22:22
here. NAP doesn't work any time I
22:24
click now on the screen. Anyway we can see it.
22:27
Let's just circle it. It's official.
22:30
There's the national debt always in the upper left hand corner of
22:34
the US national debt clock. 38 trillion.
22:36
We're paying about a trillion in interest alone.
22:40
I don't know what that is. Sorry, guys.
22:42
Paying about a trillion in interest alone on our $38
22:47
trillion in debt in all that interest that adds to our
22:52
deficit and the deficit, right? The our government, a deficit
22:58
just anybody who's new means that's the, the amount of money
23:01
that our government spends more than what they're bringing in.
23:04
So all that interest feeds into the deficit and the deficit
23:09
feeds into the national debt, which gets bigger and bigger and
23:13
that makes the interest expense get bigger.
23:15
It is literally, it is a a debt spiral, OK, that only gets worse
23:21
and worse and worse over time. And the only thing they can do
23:24
to keep the system going longer and longer is print more and
23:28
more and more dollars. That's it in a nutshell.
23:30
That's all we got to know. So I want you to think when you
23:34
think 10 years out, where's where's the national debt going
23:37
to be? Where's the value of the dollar
23:39
going to be? I don't like it, you don't like
23:41
it, but it's the reality. It's what we're dealing with.
23:44
But look, we've talked about this enough today, OK, JP
23:50
Morgan, Goldman Sachs, big news out of India, big news out of
23:55
Australia, big news everywhere. That just tells us that guys, I
23:59
I think we are in for a multi decade run in the price of
24:04
precious metals. I think crypto can do well also,
24:07
anything that's not a dollar oriented, it's going to be a
24:11
wild, wild fun ride. I want you to stay with us,
24:14
right? Come back to the to the
24:15
basement, join Susie and myself. It's a wonderful community of
24:19
people. Leave a comment in the comment
24:21
section. You don't have to agree with me.
24:24
I'm often wrong, right? And I've learned things from you
24:27
leaving great comments. Please subscribe, come back, OK?
24:31
Take care of yourself and I will see you, yes you next time.