Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚠️Critical Alert: Banking Crisis / US Debt and Its Impact on Silver and Gold Prices in 2024❗️

Transcript

⚠️Critical Alert: Banking Crisis / US Debt and Its Impact on Silver and Gold Prices in 2024❗️ · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  Silver and gold investors, we have some bad news to cover, but
• 0:03
  we have some good news as well, which will make it crystal clear
• 0:08
  why we will get $2500 gold this year.
• 0:12
  Yes, 2024. At least it sure looks that way.
• 0:16
  And who knows how high that could drive the silver price.
• 0:20
  We're going to talk about some crazy information about the
• 0:22
  commercial real estate bubble that's right now in this
• 0:26
  country. Bankruptcies taking off.
• 0:36
  Let's start out by talking about the bad news.
• 0:41
  Are we in a bubble? Are we in a bubble bubble That
• 0:45
  spells trouble, trouble, but will spell good news for the
• 0:50
  price of silver and gold, right? That's why you've bought silver.
• 0:54
  That's why you bought gold. To protect yourself against
• 0:57
  potential calamity. And I just want to remind you of
• 0:59
  something, right? I know it feels like.
• 1:02
  And when I talked with Lynette Zhang a few months back, she
• 1:04
  said it feels crazy. I know it feels crazy because
• 1:08
  when things are about to break, it starts to feel a little crazy
• 1:13
  out there. And I want to remind you, I
• 1:15
  don't know how old you are, OK? But I'm 53 years old.
• 1:19
  I've lived through the tech bubble.
• 1:21
  I was a young man. I worked in the tech industry
• 1:24
  from 1995 through, well, I don't know, 20 years or so.
• 1:28
  I own my own company at the end, but during that period of 95
• 1:32
  through about the year 2000, it was crazy In the tech field.
• 1:35
  Everything was great, Everything was wonderful.
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  Everybody was getting rich. Everything was great until it
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  wasn't great. Are we in a period like that
• 1:44
  right now where everything is fine, Right everything?
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  House prices are good, they're done, employments great,
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  everything is great. But the warning signs are
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  everywhere. What about 2008, the other major
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  crisis that we had in this country?
• 1:59
  I remember that as well. I was running my own business.
• 2:02
  I had an office and there were all these mortgage guys that
• 2:05
  were renting offices near me in this very nice city place in
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  Saint Louis. And all these guys were renting
• 2:11
  all this office space around me. And I would overhear them
• 2:14
  talking about these real estate deals they were doing.
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  They were all making money. It was all great until it
• 2:20
  wasn't. Are we facing that similar type
• 2:22
  situation right now? And when that happens, right,
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  what have we learned? After the tech bubble burst, the
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  price of gold and silver skyrocketed.
• 2:32
  After the mortgage crisis, the great financial crisis of 2007,
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  2008, the price of silver and gold skyrocketed.
• 2:40
  Are we in that same situation now?
• 2:42
  But are we in it at an even more extreme level?
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  The E word, not extreme. No escalated.
• 2:51
  I heard somebody said Everything has been escalated, Everything's
• 2:54
  bigger. The Fed's going to have to
• 2:56
  respond faster and bigger with new and more creative acronyms.
• 3:01
  No more QE. They'll have whatever they want
• 3:04
  to call. They'll make up stuff.
• 3:06
  I'm using good words, 'cause this is a family show, and I
• 3:10
  appreciate you being here. Please give this a thumbs up.
• 3:13
  It looks like my thumb. You press the button, it's free.
• 3:15
  And it helps. Helps get the word out to more
• 3:17
  people. OK, So thank you for that.
• 3:19
  Now we America. Are you in America?
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  Are you in a foreign country? Doesn't matter.
• 3:26
  Foreign to America. America is a foreign country to
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  you if you live in a different country.
• 3:30
  But nonetheless, congratulations, America.
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  Yes, amongst Joe Biden's many accomplishments, he's also
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  accomplished racking up now $34 trillion in debt here in the
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  United States. And I was listening to this guy,
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  Jim Willey, Doctor Jim Willey, the other night.
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  He's put throughout the idea that quite possibly we're
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  already in default. the United States, like, cannot pay its
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  bills. I mean, realistically, we can't
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  pay our bills because we're spending more, we're borrowing
• 4:04
  more every year with the over $1 trillion deficit, and we're
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  using part of that money that we're borrowing to pay off other
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  debt that we'd already borrowed. Are we already in a state of
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  default? Think about this.
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  When a person goes bankrupt, OK. Have you ever gone bankrupt?
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  I never have gone bankrupt. I don't have any debt.
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  I hate that. I've always hated that.
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  That is the currency of slaves. That's what they say.
• 4:31
  Silver is the currency of gentlemen.
• 4:34
  Gold is the currency of the royalty.
• 4:37
  Well, I'm I guess a gentleman, our new channel sponsor, Fortuna
• 4:43
  Silver, that's a stock that I've owned for years and years.
• 4:46
  You can check them out at fortunasilver.com.
• 4:51
  They've grown the company at a great, great rate over the last
• 4:55
  almost 20 years. But look, their balance sheets
• 4:59
  in great shape. It's a company that I believe
• 5:01
  in. I'm not giving financial advice.
• 5:03
  I'm not telling you ever what to buy or sell.
• 5:06
  But I think that it's worth your time to check out Fortuna,
• 5:10
  Fortuna, silver.com. If you go bankrupt, let me tell
• 5:13
  you how it works. You just don't wake up one day
• 5:16
  and say, huh, I think I'm bankrupt.
• 5:19
  It's a process. Default is a process.
• 5:23
  It takes time. It has to build and build and
• 5:25
  build and build. And I'm not putting words in
• 5:28
  this man. Mr. Willie's mouth.
• 5:29
  He was on Arcadia economics. Chris Marcus, a friend of our
• 5:32
  channel and a great source of great information.
• 5:35
  But he brought up this point that like maybe, maybe we're
• 5:39
  already in the process of going bankrupt.
• 5:42
  He showed pictures of the Long Beach port, which is where all
• 5:46
  these container ships come in to unload.
• 5:48
  It's like supposedly it's empty and it's like never empty.
• 5:52
  And he said, well, maybe it's because people aren't wanting
• 5:54
  the dollar anymore. I don't know.
• 5:57
  Very interesting. As we head into 2024, Seven
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  trillion dollars worth of U.S. debt needs to be refinanced in
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  2020. Four $7 trillion worth of U.S.
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  debt needs to be refinanced in the coming year.
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  That's a lot of money, guys. And we don't know who's going to
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  buy that debt. As we're talking about this
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  calamity that we could be heading into in in the United
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  States, 7 trillion that needs to be refinanced.
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  Think about it. Let's put our let's use our.
• 6:28
  Let's use our heads. You're analytical.
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  I'm an analytical person. I know that.
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  That's why we come here. We want to put the pieces
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  together and develop a thesis. If the United States was heading
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  into big financial trouble, would it did not make sense that
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  when they went through the whole debt ceiling debacle months
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  back, right? Did they.
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  Wouldn't it make sense that they didn't raise the debt ceiling?
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  No, They didn't raise it. No, no, no, no, no.
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  They went for the atomic bomb. They said we're just going to
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  suspend the entire debt ceiling until 2025.
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  What are we heading into? I ask you, are we going to look
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  back and say, duh, we should have known they suspended the
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  debt ceiling. They made it so they have an
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  open checkbook to print, to spend money, as much money as
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  they want. Are we going to look back a year
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  from now and say, see, we should have seen.
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  That's what a Black Swan event is.
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  A Black Swan event is something that happens that's extreme.
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  But in hindsight, you look back and say, duh, I should have seen
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  it coming. I don't know.
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  I don't know. It's for you to decide.
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  But here's the Here's the kicker.
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  Here's what's really going to send the price of silver to $65
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  gold 3000 or higher. 2500 will be nothing, but I'm going to
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  show you from a technical perspective later with a brand
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  new chart, why 2500 is very much in the cards, according to one
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  of the top technical analyst in the world.
• 8:02
  No matter how you slice it or dice it, no matter how you
• 8:06
  adjust the smoke machines in the mirrors and the fun, fed, fun
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  house, no matter what, Jerome Powell says the head of the
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  United States Federal Reserve Gomber pile.
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  Surprise, surprise, surprise. You know what he's going to say?
• 8:21
  He's going to say surprise, surprise, surprise, America.
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  The only way that we can deal with this in 2024 is by printing
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  money. But he's not going to call it
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  money printing. He's not going to come up after
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  his Fed emergency and say we had to start printing money.
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  We had to monetize the US debt. But that's exactly the only you
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  can you can call things what you want, you can make up names, you
• 8:49
  can blame whoever. But the only way that the United
• 8:54
  States is going to be able to get out of this predicament
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  right to to perpetuate the system is by printing money.
• 9:01
  I'm telling you, we are set up, right.
• 9:05
  The table is set for big time inflation next year, while at
• 9:09
  the same time it's it's him being in the box.
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  Here's the box. That's inflation and that's a
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  recession, right. You know who's in a box?
• 9:21
  Yeah, that old guy boy is curled up.
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  Yeah. Good old Jerome.
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  There he is. Everybody say hi to Jerome.
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  Jerome is in a box. That box is called Stagflation.
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  Stagflation is the most fertile soil, the best environment for
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  unbelievable returns in the precious metals right?
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  Do we know for sure that it's going to happen?
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  Maybe I'm dead wrong. Silver and gold investors, do
• 9:48
  you remember? Do you remember what it's like
• 9:51
  to have great gains? It's been a while, especially
• 9:55
  silver investors, especially investors and precious metal
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  mining stocks. It could happen in the in the
• 10:01
  real technical world they call that an asymmetric risk, that
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  the risk of of going down is so much more outweighed by the re
• 10:12
  potential returns to the upside. For an example, let's say with
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  silver we're at what, 23? We'll say we're at 24, we're
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  not, but we're we'll say we're at 24.
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  The risk of silver going from $24.00 an ounce to $10.00 an
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  ounce are 14 an ounce, right? The the odds of that happening
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  are far outweighed by the idea that silver could go to $85 an
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  ounce, $65 an ounce. OK, that's called an asymmetric
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  risk. Sure, it could go down.
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  We always have to be prepared for the worst case scenario,
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  right? John Carrier that started the
• 10:48
  carrier of air conditioning company used to say he always
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  prepared for the absolute worst. And then in his mind had to be
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  OK with the worst case scenario playing out and then everything
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  else and and good things do happen right.
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  We could see easily this year, right silver have great returns
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  right in the next five years. The next 10 years.
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  We we know the fundamentals that are supporting this idea of much
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  higher silver. This is from the Telegraph, UK
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  newspaper talking about what's going on right now in the US
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  banking system. We need to know about this
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  because this is the environment in which we are investing right
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  now, it says. Sobering analysis by four of the
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  country's leading financial expert says this comfort blanket
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  has created a beguiling illusion of stability.
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  What they're talking about is the emergency lending, the
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  what's it called the the BTFP, the Bank Term Funding program
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  where federal authorities bathed America's struggling regional
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  banks and short term liquidity. Disguising the slow burn damage
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  of the US commercial property slump with the underlying crisis
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  in the banking system continues to deepen as five trillion 5
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  trillion of commercial real estate debt taken out during the
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  zero rate era comes due in tranches.
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  That means comes due in groups over the next, what, one year,
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  two years, three years, 5 trillion?
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  And they're letting them hide it right on the with the Fed quote,
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  it's not a liquidity problem, it's a solvency problem, said
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  Professor Thomas Pazorsky, a banking specialist at Columbia
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  University. Quote temporary measures have
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  calmed the market, but half of all U.S. banks are running short
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  of deposits with assets worth less than their liabilities, and
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  we're talking about 9 trillion, he said.
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  We've got massive issues coming up with the commercial real
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  estate sector that's all coming due next year now.
• 13:05
  Now let's look at that at the So we got 5 trillion in commercial
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  real estate debt. I'm not saying that's all next
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  year. I don't know if that's one year,
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  two year, three, but it's all coming due in tranches, OK?
• 13:16
  The underlying commercial real estate is worth 60-70 cents on
• 13:20
  the dollar. Big problems for the banks, OK?
• 13:24
  While at the same time our government's gonna be trying to
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  refinance $7 trillion in in in U.S.
• 13:32
  Treasuries. I don't know guys.
• 13:34
  It doesn't seem to me to end well, this debt, this debt
• 13:39
  bubble. And it's not just the United
• 13:41
  States, right? Sure, we got 34 trillion in
• 13:43
  national debt the world, right? And that's like, what, 130% of
• 13:49
  GDP? The world has 307 trillion and
• 13:53
  I've read that's like 200% of the world GDP.
• 13:55
  It's it's a very, very scary, ugly situation on top of that.
• 14:00
  This comes from Zero Hedge. US bankruptcies jump 18% in 2023
• 14:08
  amid high interest rates. Overall bankruptcies in the
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  United States jumped by a fifth in 2023 as both businesses and
• 14:16
  households struggled. With high interest rates and the
• 14:20
  end of pandemic stimulus. We expect the increase in
• 14:23
  numbers of consumer and commercial bankruptcy filers to
• 14:27
  continue into 2024. Given the runoff of pandemic
• 14:32
  stimulus, let me get your hands on some gold or silver before
• 14:35
  maybe it gets to be a little bit too late.
• 14:37
  Let's thank our other channel sponsor, Pimbex, Pi, MB E,
• 14:42
  xpimbex.com. They're an online bullion
• 14:45
  dealer. They have silver, they have
• 14:47
  gold, they have platinum. They have great customer
• 14:50
  service. They've got great selection and
• 14:54
  they have great, great prices. We're going to talk about the
• 14:58
  technical chart in terms of what's going on in gold.
• 15:02
  Gold will lead the way for silver.
• 15:05
  Gareth Soloway is a leading analyst, a guy who everybody
• 15:10
  listens to when it comes to his technical analysis of a number
• 15:14
  of different assets, but one of which that he follows closely is
• 15:18
  gold gas, all always talking about how gold could easily go
• 15:22
  to 2500 in 2024. Here's why.
• 15:27
  This is a new chart. It's called the head and
• 15:30
  shoulders pattern. So when you're looking at me
• 15:32
  right now, I've got two shoulders and a head.
• 15:34
  That's what the pattern looks like.
• 15:36
  I'm going to show it to you upside down.
• 15:38
  First there's a shoulder. There's a shoulder.
• 15:42
  I'm sorry. There's there's a shoulder.
• 15:45
  There's a shoulder. There's the head.
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  OK, This is upside down. So this is called the reverse
• 15:52
  head and shoulders pattern. And this is the price of gold.
• 15:57
  If we start back in August of 2020, we got to about $2000 per
• 16:03
  oz. If we go to March of 2022,
• 16:07
  right, we dip down, created a shoulder, we got back to 2000.
• 16:12
  If we go down here, I think this was like October of 2022.
• 16:17
  We got down to about what 1600 ish in gold.
• 16:20
  Remember that the world was ending and then we shot back up
• 16:24
  just earlier. This was the banking crisis, the
• 16:27
  2000 and then last year we went down and here we are now this is
• 16:32
  an upside down head and shoulders.
• 16:35
  All right. So what this means is this is a
• 16:38
  very Bush. This means over here we keep
• 16:41
  going up because there's now, right.
• 16:44
  So as we go out further this way in time, we keep going up.
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  The way you measure a reverse head and shoulders move is from
• 16:54
  the top of the head to the neckline.
• 16:56
  They call that orange line, the neckline.
• 16:58
  That's the 2000, that form, that shoulder, the head and that
• 17:03
  shoulder, that move is $450. The move up this way as we go
• 17:08
  into the future should be another $450.
• 17:11
  When you add 450 to 2050, where we are right now, you get to
• 17:18
  $2500 gold. Hey, I wanna say thank you for
• 17:23
  being here today. Guys.
• 17:24
  Please subscribe to the channel. We're trying to get to 34,000
• 17:28
  subscribers. Take care.
• 17:30
  Thank you, Okay. Thank you for being here.
• 17:33
  Thank you for being so supportive of this community and
• 17:36
  I will see you tomorrow. Bye, bye.