Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **What To Do** IF SILVER & GOLD Price Have GIANT GAINS 💰
Transcript
- 0:00How do you react when the silver price in five months goes up
- 0:04over 277 times in value? Yes, that's 27,700%.
- 0:14Are you frozen like a deer in the headlights?
- 0:17What about if silver triples or quadruples?
- 0:20What if we get $100 silver? Are you frozen like a deer in
- 0:26the headlights or are you prepared?
- 0:29Yes, I'm talking to you, but we're also talking with our good
- 0:33friend Coin Shop Chris, who's going to shed some light on
- 0:36these subjects as well. And we are going to talk about a
- 0:41real world example where the price of silver did go up by
- 0:4527,700% in a five month period. Without further ado, Coin Shop.
- 0:51Chris, welcome to Ron's Basement.
- 0:53Ron is always going to be back in the basement week after week.
- 0:56It's an honor, my friend. And you.
- 0:59And you actually got your clip on tie.
- 1:01I'm glad to see that. Finally, yes.
- 1:04I do, yeah. Clip on.
- 1:06Ties are hard to come by these days, but I finally found one.
- 1:09So Chris, what are you going to do when we have $100 silver?
- 1:17Well, I know what we're going to do with the 85.
- 1:19You and I are going to go on a tour, so we so we're going to
- 1:23get to 85 first. What we're going to do with
- 1:25$100? I guess we can have a big party
- 1:28in the basement run. OK.
- 1:30Well, I certainly like your positive attitude, but I think
- 1:34it's important, right? Like you and I are talking right
- 1:36now. But there's someone who's very
- 1:38important who's joining us, right?
- 1:40Our viewer, the basement dweller.
- 1:42And I think it's easy for us to dream about $100 silver, even
- 1:47this example that I'm going to go through in a little bit here
- 1:49where we have silver going up by 277 times in value.
- 1:55But when the when the ship comes in, some people aren't prepared
- 1:59and it's a very emotional state. I mean, are there, are you
- 2:03prepared? I mean, do you have a plan on
- 2:05what you might do if if we get skyrocketing silver and gold
- 2:09prices? To be honest with you, no, I
- 2:11don't have a plan Ron and I don't think a lot of us do.
- 2:15You know I mean I don't think a lot of us will if we see these
- 2:19these places skyrocketing. I I really think people would be
- 2:24frozen and not really know what to do where to invest it I guess
- 2:29by real estate or whatever on I mean that we we really all need
- 2:35to a plan and I to be honest with you on no, I really don't
- 2:37have a plan for that. Yeah.
- 2:40Well, I think one big key important thing for our viewers
- 2:44and for you and for me, for all of us is to remember that just
- 2:49selling silver, let's say silver hits $45.00 an ounce and we
- 2:53start to, you know, you get scared, it's fear is what sets
- 2:56in. You know it's you, you think
- 2:58you're going to be happy. But then, and I've had this
- 3:02happen in the past with stocks I've owned and other things, you
- 3:05get a stock that double S or triples, you get silver price
- 3:08that double S or triples or quadruples, and you are happy on
- 3:11one level. But it also brings on a lot of
- 3:14fear because you don't know what to do and you don't want to lose
- 3:18money. And one thing that I've seen
- 3:21people do and I've experienced myself as you get scared and you
- 3:25maybe sell too soon, maybe somebody with silver, let's say
- 3:29silver hits $43.00 an ounce. Our viewer who's joining us and
- 3:33they get scared like I'm selling all of it, I'm just going to get
- 3:35out of it. And they, they convert all that
- 3:38silver into Fiat paper, Unicorn fart dust, as you and I like to
- 3:42call it. But then inflation continues to
- 3:46go at a high pace and the price of silver continues to go
- 3:49higher. People need to be very careful
- 3:51with the decisions they make. Well, you know, then you go back
- 3:55into, you know, you start to make a plan, Ron.
- 3:57Then you say, OK, what do I need or what do I want?
- 4:02I've been wanting this, that or whatever and maybe convert
- 4:06Summit back in Fiat if Fiat stay around Ron, but I wouldn't me, I
- 4:10wouldn't dump it all back in the Fiat because we know eventually
- 4:15you know the Fiat is going to be 0 anyway, so why would you want
- 4:20to give up real money for for paper?
- 4:22Right, right. I mean, that's going to be a
- 4:25hard decision, Ron, you know, and a lot of the people going to
- 4:28have to come to their senses and figure out what they really want
- 4:32to do with it once we hit these levels.
- 4:35When I and I think a great example as to why you want to be
- 4:38careful and we're not offering financial advice, we're just
- 4:41offering ideas here, right, You, I and our viewer together and
- 4:46people are we encourage you to leave comments in the comments
- 4:49section, your thoughts, your plans.
- 4:51But you know, one I think real clear example, let's say we have
- 4:54a hyperinflationary period where the price of bread goes up 10
- 4:59times. Right now it's $20 a loaf and at
- 5:03the same time the price of silver goes up 10 times.
- 5:06It's now $250 an ounce. You're really not ahead
- 5:10measuring silver against bread at that point, right?
- 5:13But let's say you're you're static, we have $250 silver.
- 5:18So you just convert it all to U.S. dollars.
- 5:21Well, if that inflation continues and bread goes up
- 5:25another 10 times and now a loaf of bread cost $4.00, you've lost
- 5:30half of your value because you've converted.
- 5:32So you know, I think two big key things #1.
- 5:37Something to consider is, you know, if there is a big price
- 5:41run up, maybe sell a third, maybe sell 1/2.
- 5:44I heard a very smart guy, good. A friend of mine who was a head
- 5:48trader at a firm here in Saint Louis called AG Edwards that
- 5:52most people have probably heard of some big financial firm.
- 5:55It's not Wells Fargo Anyway, he told me if you've got a big
- 5:58winner, sell half, sell a third and hope that you're wrong,
- 6:04meaning you know, hope that that remaining half or 2/3 that you
- 6:08held on to continue to go up. The other big thing and you and
- 6:13I have talked about this is I think people can consider
- 6:16converting silver and you know, Rafi Farber talks about this
- 6:19possibility that at some point we could, we could buy a house
- 6:22for 100 or 500 ounces of silver. You know that it's OK if in
- 6:27relative value terms silver has great value appreciation and you
- 6:32want to convert some of it for other real assets, you know,
- 6:35maybe maybe even stock and oil companies that own a lot of oil
- 6:40or or or rental real estate or some type of machinery, you know
- 6:45something that's real. First, Mining Gold is a
- 6:48development company advancing 2. Of the largest gold.
- 6:52Projects in Canada, Spring Pole in Ontario and Duparque, located
- 6:57in Quebec. Each already has. 5 million
- 7:00ounces. Of gold reserves but.
- 7:03Exploration initiatives are underway.
- 7:05At both. Projects to find even more gold
- 7:09first mining is well financed, has zero debt and owns an
- 7:13interest in four additional Canadian gold development
- 7:17projects. Absolutely.
- 7:18I mean no, we we can run down the 90% numbers if you want Ron.
- 7:23And you know we, you know we can really get our what you're
- 7:26talking about here in IDEA. So for an instance, wrong.
- 7:29Right now a silver dime is melting for $1.85.
- 7:35This is just melt value, Ron. This is not the creams on top of
- 7:38it. Of course silver core is melting
- 7:41for 462 right now. Silver half dollar is melting
- 7:46for 9:24 and you and I love and some of the other viewers love
- 7:50the 40 percenters. So I threw this one in there.
- 7:53A 40% and a half is melting for 378 right now, Ron.
- 7:57So I know you've done good with that.
- 7:59I've done good with it. You know, I mean and think about
- 8:04it, you know these used to be face value, a dime a quarter
- 8:081/2. This is what they melting for
- 8:12and. I want to be, and I want to be
- 8:13clear for the viewers, what Chris is talking about is what a
- 8:17lot of people refer to as junk silver or constitutional silver.
- 8:22It's US minted coinage, Dimes, quarters, half dollars and and
- 8:28and silver dollars that were minted 1964 and earlier.
- 8:33That is correct, John. Yeah, yeah, so, so that and what
- 8:37he's when he says melt value, what he means is how much actual
- 8:42silver content is in each of those coins based on what the
- 8:47current price of silver is. Is that correct?
- 8:50Absolutely. And you know the creams on top
- 8:52of it too, yes, we're paying more than the melt value.
- 8:55We always going to pay more than the melt value.
- 8:57But you know, I mean I like to bring these numbers up once in a
- 9:00while. We've had a good spike this
- 9:02week, run this past month. We will get that to a little bit
- 9:06later in the video with silver and gold and we've had a lot of
- 9:09new subscribers come on. So you know, we're getting very,
- 9:13very close to your 30,000 subscriber Micron with 324.
- 9:19Wait, let's get this done this weekend guys.
- 9:22We. Have we have more and more
- 9:24basement, more and more basement dwellers joining us that
- 9:28includes the most important person on this video.
- 9:31Chris is not me and it's not you, it's our viewer.
- 9:36So we thank our viewers for being here.
- 9:39That's right. Exactly.
- 9:41What about this idea? What about this idea that we
- 9:44could have silver in five months, do you think?
- 9:47Let me ask you a question, Chris.
- 9:48Do you think there's ever been a time in the history of the world
- 9:52where silver has gone up in a particular country by 277 times?
- 9:58Not 28 times, not two or three times, 277 times in a five month
- 10:04period? And would you believe that this
- 10:07country holds more of one of the most critical natural resources
- 10:12than almost any other country in the world?
- 10:13Do you think I'm lying? Or am I telling the truth and
- 10:15you want to learn more about that?
- 10:17Well, I think, I think you're telling the truth, but I I don't
- 10:20think the the higher powers to be Iran, let's put it that way,
- 10:25we'll tell us this. Yeah, yeah.
- 10:28Well, let me, let me show you a chart.
- 10:30I went through the trouble and inconvenience of printing out
- 10:33this chart, and that is a chart of the price of silver during a
- 10:40five month period in Venezuela starting in.
- 10:47Oh shoot, well, I guess my charts kind of screwed up here.
- 10:50But anyway, it was August of no. Yeah, it was August of 2018
- 10:56through December of 2018. The price of silver went from 36
- 11:03bully bars. That's their currency.
- 11:05Like we have dollars they have. Venezuelan bully bars, went from
- 11:0836 in August all the way to 10,000 in December of that year,
- 11:15a 27,700% increase. Or another way to say that is
- 11:20silver went up 277 times in value, we'll round up it went up
- 11:25almost 300 times in value in like a four or five month
- 11:29period. And what's even more crazy about
- 11:32that is the fact that Venezuela, I didn't know this olds and the
- 11:37article I read was from like Forbes magazine has more oil
- 11:41reserves than any other country in the world or at least they're
- 11:45near the very, very top. So we're not talking about like
- 11:48a a country with no natural resources of poor country.
- 11:51What we're talking about is a country that fell into the trap
- 11:55of financial mismanagement, maybe some political corruption,
- 11:59maybe too much debt, maybe too much money printing.
- 12:02Does any of that sound familiar to you, Chris?
- 12:04It's. Happening right here in the
- 12:06States. I mean, weren't we talking about
- 12:08when we first started doing this wrong with you and I?
- 12:11You know people in Venice will or were shaving off gold for
- 12:16haircuts or get their food. No they they actually had scales
- 12:21and a grind there to get into the smallest fractional server
- 12:25possible. Almost gold dust if you would
- 12:27say not to pay for a a haircut run.
- 12:32Yeah, yeah. No, they wondered if they
- 12:34wanted. I mean, what would they do if
- 12:36they wanted to go to the movie theater?
- 12:39I guess, I guess I'm go with a wheelbarrow full of bully
- 12:42dollars. I mean, I mean that's happened
- 12:47in Zimbabwe. I mean that's that's happened in
- 12:49a lot of different countries And you know people that you know
- 12:53are not watching you now, Ron, are rolling.
- 12:56You know we talked to our family and friends and they give us
- 12:58like we got we got three eyes. You know, like we're 4/4 of it.
- 13:02You know, it's never going to happen here.
- 13:04Well, you know I I put my money with my mouth is you put your
- 13:09money where your mouth is, Ron. And we're we're stacking silver.
- 13:11So I mean, yeah. How many times have you seen the
- 13:15Barbie movie now, Chris? Oh, here we go.
- 13:17You brought that up. Yesterday's live stream 0 * 0,
- 13:21I'm sure. Have you?
- 13:22Seen the No, I mean during the whole year.
- 13:24Not since you woke up this morning.
- 13:26How many times total for 2023 have you seen the Barbie movie?
- 13:310. OK.
- 13:34I'm not gonna fall in that job you you you probably seen it
- 13:37what two 2023 times this year so far run.
- 13:43Let's move on to the numbers. What numbers do you?
- 13:45Have where is. Find Shop Chris.
- 13:48Oh my God. Well, what numbers you want
- 13:51first my friend? Whichever ones you feel most
- 13:54inspired to share with me and the viewer.
- 13:57Well, let's do the pin back deal of the week, Ron.
- 14:00OK, that's always fun. You know, I, I, you know, pin
- 14:04backs knocks it out of the pocket getting on week after
- 14:06week. You know, I got to give them
- 14:08tremendous credit. They always have the best price
- 14:11it seems like. And this week we're going to
- 14:13feature the 20G Val Cami gold bars.
- 14:17These are 21 oz gram breakable bars.
- 14:21So you can, you know, if you really have 20 people on your
- 14:24Christmas restaurant, you can get a gram of gold per per
- 14:30person and it's really less than $100 a gram.
- 14:32So let's start with money metals.
- 14:34If you were going to money metals to get this today as of
- 14:37last night Ron, I took these prices at 5:55 on December 1st.
- 14:42We're recording this on December 2nd 2023.
- 14:46Money's metal place was $1600 in a penny at Max price was 1551 O3
- 14:58JM Bowen was 1550 Sixty five SD Bowen was 1005 O 871 Pimbax
- 15:10Winslet again Ron at 1463 Eighty Savings of Between money Metals
- 15:19and Pimbax $136.21. OK, so I want to make clear for
- 15:25our viewer, this is called the Volcombe Gold and it's a What do
- 15:31they call it? It's like a it looks like a it
- 15:33almost looks like a credit card or it's a sheet but it has 21
- 15:38oz, I'm sorry, 21G segments and you can break them off.
- 15:44It's like perforated. So it's in total it's 20 grams
- 15:48of gold. But it's it's part they're very
- 15:51cool. It's VAAVALCA MB I and they make
- 15:56them with silver as well and it's it's a, it's a, it's a well
- 16:02known product in the precious metal sector.
- 16:04It's very cool. So what Chris did is at a
- 16:07specific time yesterday, which he mentioned earlier, he went
- 16:11out and checked what the price was at Penn Backs.
- 16:14And then he went out to a couple other major online bullion
- 16:17dealers at the exact same time and compared apples to apples,
- 16:21right, what it would cost for a cash purchase or AACH purchase
- 16:26of one of these Valcombe 20 gram products.
- 16:30And what he found was that from high to low, Pinbex being the
- 16:34lowest price, there was a $136 difference.
- 16:37And I every week seems like we're saying the same thing.
- 16:41So you could buy the exact same product from Pinbex and have
- 16:45$136 extra that would buy you what, 4 American Silver Eagles
- 16:52and a little money leftover for Chinese takeout.
- 16:54I mean, why not buy the exact same thing for a lower price and
- 16:59then get some bonus silver on top of it?
- 17:02Am I wrong, Chris? Did I?
- 17:03Did I? Mess anything up.
- 17:04Absolutely right. And you know I'm not going to
- 17:06give these prices wrong. But you know, I mean since
- 17:08we're, you know, I did reach out to Mike at pin backs this week
- 17:12Ron, you know they're saying they need, you know, do you want
- 17:17this anything from them before Christmas or have it for
- 17:20Christmas. This is the week to get it in,
- 17:23everybody. We got another week here.
- 17:26The post office cut off that line is guaranteed the 14th.
- 17:30They're going to need a couple more days.
- 17:32So I went on pin backs again, Ron.
- 17:34And there's a couple things that you know would make great
- 17:37stalking stuffers know in silver, they have the US
- 17:42Marshall Commander proof Silver. One.
- 17:45I love the kookaburras. Sassy Silver, Your other Mod,
- 17:48love the kookaburras. Jim M love the kookaburras.
- 17:52And I think Annie Oakley, she loves the Kookaburras too.
- 17:58And Sassy Sarah was originally from Australia, which I did not
- 18:01know that until last week. She's been, you know, she was,
- 18:04she was the only like to 10 years old and she's been here
- 18:07ever since. And Jim and I always love to
- 18:10give each other hard time. He loves me so much.
- 18:13Every time I show him I get one, he says I turn green.
- 18:17So you know he's always saying he wants it so bad.
- 18:20So in another product they have for a very good place is the
- 18:242023's Noah OPS supplies are limited on a lot of these guys.
- 18:31So if you want them, get them now before silver goes up more.
- 18:34I'm not trying to get you into mode, you know, fear of missing
- 18:38out here. But it seems like you know we're
- 18:42silver's OPS goes up. You know, lock it in now and
- 18:46hope, hope it continues to rise, I guess.
- 18:50And don't forget, if you buy it from pin backs, you can save
- 18:53yourself $136 over the most expensive online bullion dealer
- 18:58and get yourself one of those US Marshall silver rounds.
- 19:02I looked at those. Those are cool.
- 19:04Very cool. I have a nephew who's going to
- 19:06be joining the US Marshals. I was thinking about getting one
- 19:09for him. And yeah, they've got some great
- 19:11products. And I I think like you said,
- 19:13it's a good reminder Christmas is 3 weeks from Monday.
- 19:16So whether you're talking about buying silver from Pimbex or any
- 19:21other gifts that you're going to have shipped, make sure you get
- 19:23it going. Now, Chris, what about the
- 19:26monthly numbers? Monthly numbers.
- 19:28I'm very happy to report Ron monthly.
- 19:31Mr. Mr. Monthly is here. I'm all about numbers wrong.
- 19:35The past 30 days silver was up $2.94 an ounce.
- 19:43Let me repeat that wrong, $2.94 an ounce.
- 19:48So times that by how many ounces you we all have.
- 19:52That's a pretty good uptick this past month or silver was up
- 19:5612.82%. Where you going to get that?
- 20:00You won't be honest about how many times you've seen the
- 20:02Barbie movie. Keep going.
- 20:06And we and we know you had to clip on tie.
- 20:10So anyways, go go with up $97.40 or a 4.88% flat.
- 20:17Comes back down a little bit. It was down $3.90 or down 0.41%.
- 20:26Bitcoin still hanging in there. The Unicorn thought dust was is
- 20:31up $4084.95 or up 11.78%. Bitcoins whipping.
- 20:38Bitcoins whipping everybody's rear.
- 20:41It's doing great. Go ahead, Oil.
- 20:43Well, actually silver was 12.82% versus 11.78%.
- 20:48So silver wins the week there. Oil, excuse me, Oil still down.
- 20:55It's creeping back up on oil, still down $6.64 a barrel, down
- 21:008.20% and the gold. Oh, I thought you were done.
- 21:06I'm sorry. I apologize.
- 21:07Go ahead. And the gold to silver ratio is
- 21:1180.80. That would be the silver to gold
- 21:15ratio, silver. To gold, Yeah, I.
- 21:18Do I? Do I do the same thing?
- 21:20I mean, you have to think how many ounces of silver does it
- 21:23take to get one ounce of gold? 80 that that well.
- 21:26And you know what? That brings up two great points.
- 21:28I want to interject #1. We talked.
- 21:30We started beginning of this video talking about what to do
- 21:33when silver skyrockets. Another thing you can do is keep
- 21:36an eye on the silver to gold ratio.
- 21:38If you're a big silver stacker. And let's say the silver to gold
- 21:42ratio gets down to 25 or 30, maybe 15, right?
- 21:46Instead of taking 80 ounces of silver to get one ounce of gold,
- 21:49it only takes 20 ounces of silver to get one ounce of gold.
- 21:54That might be a good time if you're going to do a a, a
- 21:57transaction and you want to diversify with some silver,
- 22:00let's say you're heavy into silver that might be a good time
- 22:03to diversify into getting some gold.
- 22:05And and you know, did you know that Venice we talked about oil.
- 22:09Remind me, Venezuela has in this article, I have it somewhere
- 22:13written down. It has has like the most gold,
- 22:16I'm sorry, most oil reserves of like any country in the world
- 22:20like more than the way more than the United States, way more than
- 22:23Saudi Arabia. Venezuela is not like some, you
- 22:26know, little, you know, they got a lot of oil.
- 22:29You know, I just don't know why we can't work with Venezuela on
- 22:33and get oil from them too. They would sell it to his like
- 22:36they did back in the 90s, Ron. I mean, I think we were buying,
- 22:40I believe we were buying oil from them in the 90s, if if I'm
- 22:43not mistaken. Yeah, yeah.
- 22:46And oil was less. Gasoline was less than a dollar
- 22:48a gallon. Yep, Yep.
- 22:50Well, thank you Chris. Thank you for thank you to the
- 22:53viewer who's with us today. If you've enjoyed this video,
- 22:56please consider subscribing to Ron's Basement as we are on a
- 23:01fervent drive to get to 30,000 subscribers before the end of
- 23:05the year. And don't forget to give this a
- 23:06thumbs up. And most important, leave a
- 23:08comment in the comment section below because yes, your
- 23:12thoughts, your comments do matter.
- 23:14We want to hear from you. We want to learn about you,
- 23:17Chris. I know you're pressed for time,
- 23:18you got to run off to the movie theater, but before you go, I
- 23:21want to say thank you on behalf of everyone who's joining us
- 23:24today. If you Mr. and Misses viewer
- 23:27want to show some support for Coin Shop, Chris, there's a link
- 23:30in the description of this video where you could maybe donate
- 23:33some little funds toward him for his for his Ding Dong fund or
- 23:37whatever he he chooses to use his money for.
- 23:40Chris, do you have any final words before we say goodbye?
- 23:43No, I just want to say Ryan, you know I've seen you this past
- 23:47month really exploded. You have done great.
- 23:50Ron, you're bringing more viewers on.
- 23:52We just want to, I just want to thank everybody from the bottom
- 23:55of my heart, you know for joining us and let's just keep
- 23:59sharing this and let's get Ron, you know I'll say it now I am,
- 24:02I'm really shooting for Ron to get to 31,000 by the end of the
- 24:06month sub sub count. But of course, Ron, yes, we're
- 24:08going to get the 30,000 for us, but I think you are on tap to
- 24:12get 31,000. Yeah.
- 24:14Well, thank you, Chris. Thank you for your help, your
- 24:16support. Thanks for sharing with our
- 24:18viewers today. We joke around a lot, but
- 24:21you're, you know, a great asset to the channel and we'll look
- 24:24forward to seeing you next week. Always, my friend, Always a
- 24:27pleasure. See you next week.