Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 THIS Must be Considered! 🚨...(Silver Price and Gold Buying News Update)

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🚨 THIS Must be Considered! 🚨...(Silver Price and Gold Buying News Update) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
A number like $48,000 gold price cannot be ruled out.
0:06
We're going to look at the reasons why in this video.
0:09
Silver, you know that number, 200 dollars, 300, some people
0:13
even say $600.00 per oz. We have so many reasons to
0:17
remain optimistic about the gold and silver price.
0:21
Look, I know today we're in a bit of a downdraft.
0:23
We'll talk about that. But guys, it's just noise, OK?
0:28
What happened this morning, what's happening right now is
0:30
all short term noise. I want you to think out one
0:34
year, 2 years, five years from now, how do you feel about the
0:38
silver and gold price? I can't answer for you.
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I can answer for me, right? You have your own brain, you
0:45
have your own ability to analyze what's going on.
0:48
But when I look at it, it sure feels like a year or two from
0:52
now, I can see gold and silver prices that will make us very,
0:56
very happy. Halloween 2025, right?
1:00
Next year, Where do you think? I mean, really where do you
1:04
think the silver price will be? Think about it, OK, but let's
1:07
run out. This is all short term noise,
1:09
but we did get some news this morning that we talked about
1:12
that would move the markets. We're going to spend about 10
1:15
seconds on this. The the key Fed inflation gauge
1:19
shows price increases match expectations in September.
1:23
That doesn't mean they were good, it means it matched
1:26
expectations. I want you to think about that
1:28
and what were these expectations?
1:31
The expectations were this over the prior year, inflation
1:35
basically rose at 2.7% in September.
1:40
That was above Wall Street's expectation of 2.6% and in line
1:45
with the 2.7% seen in August. So what we're hearing, and we're
1:49
not going to talk about this 'cause it is short term noise,
1:53
we're looking at the long term picture and we got $48,000 gold.
1:57
I got a chart to show you here in a second, OK.
2:00
But the short term noise about the inflation, think about this,
2:03
we still have inflation at 3%. The Fed didn't win the fight on
2:09
inflation, and that's the government numbers, you know,
2:12
and I know the real numbers are much, much higher than that,
2:15
probably double or possibly even triple the amount.
2:19
And we know that heading into next year.
2:22
It's undeniable. I'll argue with you to the end.
2:25
You want to argue, Ron? Ron, Ronnie will argue with you
2:28
this morning that next year all you're going to hear about is
2:31
inflation. And inflation is going to become
2:34
the key driver for the silver price and the gold price.
2:39
OK, so $48,000 gold. Hey, on a day like today, we
2:45
wanna hear that right, Right, $400.00 silver 48.
2:49
I know it's crazy. Well, think about this.
2:51
Bitcoin did it right. It went from $10 to whatever
2:55
it's at now 75,000, heck maybe 80 or 90,000 by now.
3:00
What if the US debt spiral continues?
3:02
Don't you worry, we will go look at the US debt clock a little
3:05
bit later. What if the devaluation of the
3:07
dollar continues? And then we need to think about
3:11
this, right? Can paper currency, is it just,
3:13
is it, is it within the realm of possibility that this paper
3:17
currency can go to zero? It's only happened hundreds of
3:21
other times throughout history, thousands of times, probably
3:24
with other paper currencies. I'm not saying it's going to
3:27
happen tomorrow, but we do know this about the dollar.
3:30
Since 1971, it lost 9899% of its value relative to gold.
3:36
So I'd say that we're making some progress right in this idea
3:40
of $48,000 gold. It's on a chart.
3:44
We're going to look at it right now, OK, But it's really not
3:47
that far out of the question. I I understand.
3:50
And then we're going to talk about $28,000 gold.
3:53
I'm going to show you another example and you know these
3:56
numbers Co relate to a silver price over $100, over $200 per
4:02
oz. But let's go look at this chart
4:04
where we get to hear about $4800 gold.
4:09
This comes from our friend Garati.
4:11
OK, he's an analyst and he says rising wedges and here's the
4:15
chart down here. But a rising wedges are mostly
4:18
bearish. That means bad, but sometimes
4:21
bullish. And when they are bullish, they
4:24
are usually very bullish. Not taking this chart seriously
4:28
would be the biggest financial mistake of your life.
4:32
And that's not overstating just his opinion.
4:35
But let's take a look at this chart guys, because it is
4:37
fascinating. Here's the $48,000 gold, he
4:41
said. This wild chart does say the
4:43
target is 48,000, which coincidentally would be the
4:47
approximate number of U.S. dollars M2 was backed into back
4:52
M2 with 100%. So what he see, what he sees
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here is this first bowl phase, right That started during the
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70's, the 60s and ran up through the 70s through 1980 we pulled
5:06
back and then around 2001 we had the second bowl phase.
5:11
Make sure I got you guys on the right screen, which I do OK.
5:16
All right. Where gold went up from what the
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$250 all the way up to I forget what what it got to during that
5:23
run 1900, something like that. OK.
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Then we pull back and this is the wedge, OK?
5:30
The largest very probable bullish rising wedge
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continuation halfway pattern I have ever seen is what he says
5:39
and that's this, right, this wedge pattern.
5:42
Look, I'm not a technical analyst guru, I'm just
5:44
presenting to you what he says. And based on those numbers, OK,
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we had the first bowl phase, the second bowl phase, the third
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bowl phase would be the inflationary twenty 20s like we
5:55
just talked about inflation will drive and that's the third and
6:00
phase. The breakout already happened
6:02
back in 2020 when gold back tested $1673 per oz.
6:09
And based on this technical analysis, right, IT projects
6:13
that gold could go as high as $48,000.
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I know I just seems unbelievable to us a gold and silver
6:21
investors in particular with the challenges we face lately.
6:25
But I want to bring up one more point to you.
6:27
OK, Well here, let's bring this up first.
6:30
Let's remember what happened yesterday.
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OK? This is from bar chart.
6:36
Gold hits its highest closing price in history.
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OK, that was yesterday. Highest closing gold price in
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history. Now, now I want you to think
6:48
about this, what happens when things hit new all time high
6:51
prices? After any asset hits gold,
6:55
silver, when it hits its all time high.
6:57
Anytime an asset hits its all time high, it's more likely that
7:01
it will continue to make newer and newer and newer all time
7:05
highs, right, because that momentum is going forward.
7:08
So the fact that we did again yesterday hit an all time high
7:13
in the gold price is a is a very, very big deal.
7:16
All right, back to 48, how about $28,000 gold quickly, quickly,
7:20
OK on in 1999, the price of gold was about $260 per oz.
7:27
That was 25 years ago. Let's go look at this chart and
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I want you to to as we look at this, this chart does goes only
7:37
back to 2000, but you can see right in the year 2000.
7:43
Hold on here, here we go. OK, in the year 2000 in the
7:47
futures market, we had the gold price at 2700, right?
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This chart doesn't go back to 1999, but this works.
7:53
OK, Look, gold price 200 right up here, $277 per oz on August
8:01
6th, OK? Gold has gone up 10 times from
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$2700 all the way from $270, I'm sorry all the way to 2780 today,
8:14
a 10X increase in 25 years. What would a 10X increase even
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if it takes another 25 years from now be that would be
8:23
$28,000 gold. I think $28,000 gold 10 year or
8:28
25 years from now will be will be child's play.
8:32
I mean, we've got to consider the, the, the idea and the
8:36
reality that we could have massive increases in the gold
8:39
price and the silver price. Think back 25 years ago to 1999
8:44
when gold, when you could buy gold for under $300.00 an ounce.
8:48
OK, right, the Y2K, Remember, you were probably alive.
8:51
I was alive. We could have bought gold for
8:54
$270 per oz. If you had told you or you had
8:59
told me back then in 1999, hey, go buy all the gold you can for
9:04
$270.00 an ounce, I'd be kissing you right now.
9:08
I'd like you even more than I do right now.
9:11
But in 1999 we buy all that gold for 200 and, and, and, and, and
9:15
to know that 25 years later that gold would have gone up 10 times
9:21
in value. Think about that.
9:23
So today when we sit here and we talk about gold and we talk
9:27
about gold going to $28,000 in 25 years or 48,000, which I
9:32
actually think is more realistic given what's going on.
9:36
I mean if you look at the US debt clock lately, is that a
9:39
good enough reason for us? What does that tell us?
9:42
We're in a debt spiral none the less.
9:45
If you, if we, if we tell each other now, buy gold, buy silver,
9:48
it's going to go up 10X20X and 25 years.
9:52
I don't think that's out of the realm of possibility.
9:54
What if silver goes up 20X from where it is right now?
9:58
We're talking about $700.00 gold, 650, I'm sorry, $650
10:03
silver, not gold. It's possible.
10:06
It's not. I mean, it's not even possible.
10:08
I look, just looking at this from a mathematical perspective,
10:13
I think that it's very highly likely.
10:15
Don't make any financial decisions based on what I'm
10:18
saying. This is my truth.
10:19
You have a good brain, right? On top of that, I forgot the
10:23
most important part. Thank you for joining us here
10:27
right you now. I'm not talking to anybody else
10:30
now, but you right? We all get together as
10:32
individuals. You're a unique, unique
10:34
individual. Your time is precious.
10:36
We honor the fact that you have chosen to join us here today.
10:40
It's not possible without your participation.
10:43
Thank you. Please, this is one I beg
10:46
subscribe to the channel. Give the video a thumbs up.
10:49
Super chat. Super thanks, PayPal donations
10:53
never expected, always appreciated, but please never
10:56
donate anything more than you can afford.
10:59
Hold on here. I think we've got a super chat.
11:00
Don Howe man, Don, you are just so consistently generous with
11:06
us. Thank you, Don and everyone else
11:09
that's given super chats for the Super chat.
11:11
Much appreciated. What?
11:13
Let's pull that back. OK, so that's it.
11:16
It's possible. We're good, everything is fine
11:19
today stinks. Speaking of today stinking, what
11:22
do you say guys that we go check out and get an update, update
11:27
time on the gold and silver price?
11:29
First, I want to say thank you to channel sponsor Pinbecks Pi
11:34
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11:39
I bought from them before they sponsored the channel.
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11:50
Those of you who have what I think is made a smart decision
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I found that they always have a great selection.
12:01
They always have ultra competitive pricing, right?
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And #1 it's a company that I can trust.
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The brothers that own the company that run the company.
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12:15
Please check out Pembacs now. Oh my gosh, it is ugly.
12:18
Let's do an update here guys. I'm going to press the the magic
12:22
button here. The little golden triangle, It
12:24
could have gotten worse and it did.
12:27
Gosh, silver down $0.70, Gold down $26.
12:33
Now let's take a deep breath. Silver is still above $33.
12:38
We've been fighting the $32.50 range is the $32.50 for silver
12:44
is the critical level. This, this calls for a special,
12:48
a special edition. Guys, we need to go out, look at
12:51
the silver chart and what? Because we haven't done this for
12:53
about a week and see just how precarious of a situation we are
12:59
getting into. Wow.
13:02
And the general wow, the NASDAQ down 2% this morning.
13:06
OK, silver taking a dive down $0.75 in the futures.
13:11
But let's take a look at the big picture.
13:14
Remember, right, short term noise, this is not the end of
13:18
the world, OK? And let's look at a one year
13:24
chart and see how that works for us.
13:25
OK, perfect. We're going to get our crayons
13:28
out here and this will help us kind of visualize what's going
13:33
on. Guys, this is the line in the
13:36
sand. Not only is that a red line,
13:39
that's the red line that it cannot be crossed, OK, that's
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$32.50 in the silver in the futures market.
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Remember we fought through so many times, like 3-4 times
13:50
depending on how you want to measure it.
13:52
We broke through, OK. So that line instead of being
13:56
resistance now becomes support. So it will remain very critical
14:02
for us as silver investors. We get down back down here if
14:06
let's let's talk worst case scenario the silver price goes
14:09
down here, which we don't want to see happen.
14:13
That's not good. That's not the end of the world.
14:16
What we do want to see is a bounce up, OK, right now what's
14:21
probably going on in all the, I mean there's a lot of
14:25
uncertainty out there right now in the markets.
14:29
OK, now I know, right, Uncertainty is good for silver
14:34
and gold. Well, it is from a big picture
14:36
perspective. Inflation is good for silver and
14:39
gold, uncertainty is good for silver and gold, but not always.
14:43
And the reason why is like we know in the last four, 3-4 years
14:48
ago when inflation was going up in the long run, that was good
14:51
for gold and silver. But gold and silver were
14:53
struggling because the Fed was gonna raise interest rates,
14:55
right? So it's not always the case with
14:58
inflation, but also this uncertainty that we have right
15:01
now, the election coming up next week, the big Fed meeting, then
15:06
following, I think it's on Thursday when we'll get the
15:08
announcement from the Fed. That's causing a lot of
15:11
uncertainty out there. There's a lot of uncertainty
15:14
about what's going on with China, how they're going to
15:16
react to the elections, what kind of stimulus they're going
15:19
to do. And the uncertainty is making
15:22
people kind of take a step back from the risky assets.
15:26
And silver is I, you know, this is what I think's going on.
15:30
Silver and even the precious metal mining stocks have had a
15:33
rough couple days. I don't even want to look at my
15:35
metal, precious metal mining stock portfolio today, right,
15:39
because people are, are chickening out and pulling out
15:42
like I'm, I got a, I'm I, I can't, I can't, I'm nervous, OK,
15:46
I'm emotional. So that's likely what's going on
15:50
in the silver market. But but, but, but, but are we
15:54
worried, right? Is the precious metals rally?
15:57
Is it over? No, it's not OK.
16:00
Like we said earlier, when something hits new all time
16:02
highs, it likely continues higher.
16:04
It's more likely guys that silver will continue higher.
16:08
In my book, $3435. You may not agree with me,
16:12
that's OK, but essentially 3435 dollars is new all time high
16:17
territory for silver. I know it went to 50 back in
16:20
1980, I know it went to 50 back in 2011, very brief periods of
16:25
time. I I'd be curious to see like
16:27
this of how much the amount of time now that we've been
16:30
spending above 30, how that compares to previous times when
16:34
the silver price did. Because I think essentially we
16:38
are at new all time highs for silver for all intents and
16:42
purposes. OK, but what about gold?
16:47
This is great. You know, Jim Rickards is Jim
16:49
Rickards New York Times bestseller, worked for the
16:52
government, all types of capacity.
16:54
I think he was an actual economic advisor to President
16:58
Reagan. And that's all from memory.
17:00
So don't quote me on that. But what is Rickard saying about
17:03
gold? He brought up this is a critical
17:05
point for us to remember. He says, whoop, there it is.
17:09
This is yesterday gold hit $2800 and it's great that Americans
17:14
are not buying it. Americans still aren't in mass
17:18
buying gold. That means there's plenty of
17:21
upside left when they finally see what's happening.
17:25
The Chinese are buying gold like unbelievable amounts, guys, on
17:29
the, on the retail level, the data coming out of China, the
17:32
Chinese consumers are buying gold jewelry, gold bars, gold,
17:37
but the American and why is this a big deal?
17:39
Thank you, Jim, for that great point.
17:41
Because that's something that we can take solace in as silver and
17:45
gold investors. And that is the Americans
17:48
haven't even joined the party yet.
17:50
It's like a, it's like a, what do they call that?
17:52
It's like an ace up the sleeve for gold and silver as well,
17:57
right? When the Americans really start
18:00
to come in, when they wait. And that's going to happen.
18:02
Think about what's going to happen after this election,
18:05
right? It's probably right.
18:07
It could be a sweep by the Democrats.
18:09
It could be a sweep by the Republicans.
18:12
And really in both of those scenarios typically aren't going
18:15
to be really, really positive for the precious metals.
18:18
But what's likely going to happen is it's going to be
18:21
contested. We're going to have a lot of
18:23
uncertainty. We got we got the debt ceiling
18:25
that needs to be renewed in early January.
18:28
And on top of that, right next year when this inflation takes
18:32
off. And the Americans do wake up
18:34
right when they start going to the grocery store and realizing
18:37
that eggs now cost $8. I mean, eggs are expensive
18:41
already in milk that they were paying $3.40 for three months
18:47
ago suddenly cost 5 or $6, right.
18:50
When that kind of inflation hits and it's going to happen, then
18:54
the Americans are going to run to gold and silver.
18:56
The Costco dads are going to be considered like the Trail
19:00
Blazers. You and I, I don't know what we
19:05
call ourselves. We're out in front of the Costco
19:07
dads. But then the the masses will
19:10
want to join and it's going to be it's going to be an
19:13
interesting thing. We got the dollar starting to
19:16
roll over. Let's go out and take a look at
19:18
the US dollar William Middlecoup brought at this point.
19:23
Yes, the dollar starting to roll over.
19:25
The dollar has been on an absolute tear for like the last
19:29
month, OK. And that has been a headwind to
19:32
the silver and gold price. He says the next leg up for gold
19:36
and silver is about to start probably.
19:38
Well, it didn't start today, William.
19:40
But none the less, we appreciate you pointing that out.
19:44
Now let's go take a look at the dollar because I have a feeling
19:48
the dollar's down today. This we are just in everything
19:52
is changing like unbelievable. These these long established
19:58
relationships and looks like my computer.
20:02
There we go. Let's take a look and see what
20:05
the DXY index. No, I do not want to be a
20:08
member, thank you very much. And yes, the dollars down, which
20:13
should be everything's different now, guys.
20:16
So the dollar is rolling over In the end, this will be supportive
20:21
for the gold and silver price. But right, with the dollar being
20:25
down even just a little bit, the gold and silver price should
20:29
actually be moving up. Things are so wonky in the war.
20:35
The relationships. We talked about this yesterday.
20:38
Mohamed El Al Rayon, the former CEO of PIMCO is like
20:42
everything's out the window. I mean, everything and and gold
20:45
and silver are in a whole new paradigm, a whole new system of
20:49
value measurement. And I know today stinks.
20:53
Let's go do a quick update. We got to see.
20:56
Come on, we got to get the silver price coming back.
20:58
Let's not have one of these crazy down a dollar days, 81
21:02
cents Boo woo Hoo. We love thin backs.
21:07
Hey, think about it. If you waited till today to buy
21:10
some silver, you're getting a good deal compared to yesterday.
21:16
All right guys, this is interesting.
21:21
OK, then again, a whole new pair.
21:22
Now we got a subscriber comment that I want to pull up here and
21:30
bringing up an excellent point. This was Ted Krogosk saying, and
21:36
this, this drives home this idea that we are in, we are in, we
21:42
are in like the panic zone or the unknown zone when it comes
21:47
to these precious metals. And it's gonna be good and
21:49
supportive, in my opinion, for the price of silver and gold.
21:53
But we are going through some crazy, wonky times.
21:56
And he points this out and there he is, looks like with his
21:59
lovely wife or maybe daughter, he says not just the fact that
22:04
rates are rising again, this talks about how everything that
22:08
should be, should have killed gold and really killed silver
22:12
has been thrown out the window. So not only that, rates are
22:14
rising. Gold was supposedly going up
22:17
because Israel was going to attack Iran.
22:20
It happened. It's over.
22:22
Oil plummeted. Not granddaddy gold, right,
22:25
gold. Gold did not.
22:28
So, So what he's saying is gold, everybody said, oh, gold's going
22:31
up because of the wars going on in the world.
22:34
And again, that's certainly a support factor for the price of
22:38
the precious metals. But then after that happened and
22:42
there was really no big response from Iran, right?
22:46
Gold didn't plummet, not, not not until today anyway, So that
22:50
things really are changing in terms of these relationships
22:55
between the metals, right? And then this is what Mohamed El
22:59
Erian said, right? The economic relationships, the
23:02
gold and silver have these long standing.
23:05
They're changing the financial relationships.
23:08
What we just looked at, right, the fact that, oh, when the
23:11
dollar's down, gold and silver should be up and when the
23:14
dollar's up, gold and silver should be down.
23:16
Well, that's all been thrown appears at least for now to him
23:20
thrown out the window and the geopolitical risk like we just
23:24
talked about even that relationship, right?
23:27
There's a new right and and it what it what it really is is is
23:32
a re emergence of precious metals as hold on here, make
23:37
sure I'm not screw anything up. OK.
23:40
Oh yeah, Susie wants me to point out the Boo bears.
23:44
We going to have some fun. Do you guys see the Boo bears?
23:47
OK, They're right above pin backs.
23:49
Happy Halloween, everybody. And I think you can see the
23:52
eyeballs on that one right there.
23:54
And there's one more little Boo bear.
23:57
I'll let you find it. Whoever finds it, put it in the
24:00
put it in the the comments section.
24:02
OK, there's another Boo bear somewhere on the screen that you
24:07
can see now. I forgot.
24:08
Oh, everything's thrown out the window and what is happening?
24:13
What is happening? Do you do you feel it?
24:15
Right? It's this re emergence of silver
24:18
and gold is the only real true form of money, right?
24:22
Is the only real true form of value the timeless form of
24:27
value? As the world moves away from the
24:29
dollar is all this is changing? What about silver?
24:32
What's the missing link right for the silver, for silver to
24:36
explode upward. We don't want it to explode
24:39
downward like we're having today.
24:41
But what is the missing link? And this is an interesting piece
24:44
of data. I pulled this from Chris Marcus
24:49
from Arcadia Economics. Looks like he got it from
24:52
goldchartsrs.com. But in one of his recent sub
24:55
stack post, he's got a great sub stack where he talks about what
24:59
is going on in the silver market right now.
25:01
But this is weekly transparent silver holdings, OK, in this
25:08
shows total published repositories, how much silver is
25:12
held by mutual funds and ETFs in ounces.
25:16
And guys, if we look at the start of 2024, OK.
25:21
And the Gray line by the way is the silver price.
25:24
So that's on the right hand side.
25:25
This is millions of Oz, all right.
25:28
So if we look back to the beginning of the year and if we
25:30
even go into April, we were at about what, 1.3 billion oz
25:36
because that's millions of Oz, OK?
25:40
Look at how what we're seeing is the investor coming back into
25:45
the silver market. It's almost by what appears to
25:49
me to be 100 million oz. And that is significant, right?
25:54
This increase, let's draw it. Let's draw it.
26:00
I mean, gosh, look at this increase from April, February,
26:05
April time frame. Look at that red line, you see
26:08
that increase 100 million oz. Why is 100?
26:12
Because, because, because because the whole mining sector
26:18
in the entire world only produces 800 million ounces of
26:22
silver. So 100 million ounces is a big
26:24
deal silver. Now this is also interesting and
26:28
shows an increased level of of focus on the silver.
26:33
Make gold great again brings us up.
26:35
Searches for silver on Google have suddenly increased to
26:40
levels not seen since 2021. Look at this Silver is trending
26:46
on Google. This is from Google Trends.
26:49
Look over here I'm going to get the I'm going to circle this
26:53
right. This is now right.
26:56
Look how it's been all the way back to we had a spike in 2021,
27:03
probably a spike here during the C19 crisis as well.
27:08
But what that is, is the average investor coming back and looking
27:13
at silver and you've got to read, we've got to realize why
27:17
is that important? It's important because the
27:20
retail level of of inventory for silver investors is finite.
27:26
And it's a sliver of what is out there.
27:28
Yesterday, when I was talking with Mike from one of the owners
27:31
from Pinbacks, he didn't say there was a silver shortage.
27:34
He didn't say that, right. But what he did tell me is that
27:37
he is definitely starting to notice a certain level of stress
27:41
in the availability of silver products.
27:43
Like there's, there's, it's, it's not like, oh, we can't get
27:46
anything, but it's not like what's say 2-3, four months ago
27:50
where there was just this overwhelming plethora of supply
27:55
of all types of silver products. They're starting to see some
27:59
stress in the silver, right? And it ended.
28:01
But that would make sense. Look, guys, it doesn't take a
28:06
lot. I mean, like one big event.
28:08
Who knows, right? Could the could I'm not, I'm not
28:11
predicting this and I don't want anything bad to happen.
28:14
But could turmoil after the election, right?
28:18
A contested election. Doesn't that kind of feel like
28:21
the same type like black swanish event like we had 18 months ago
28:26
during that little banking crisis that all of us forgot
28:28
about? We're like four of the biggest
28:30
banks in the history of the universe went bust.
28:33
But the Fed fixed it. I think.
28:34
What was that? April, March and April of 2023?
28:39
And remember what happened? Silver went bye bye.
28:42
Do you remember what happened? Open premiums on these things.
28:46
It's time for a little show and tell.
28:50
American Silver Eagle premiums, right?
28:53
You are paying the silver price was like 25 bucks, right?
28:57
And people were paying $50 each for American Silver Eagles.
29:02
Is that going to happen again after the election, right.
29:08
We've already get, we're getting word and it's not just Mike,
29:11
it's other. I've heard other people say
29:13
expect premiums to be going up. And the only reason why premiums
29:17
meaning the amount that you pay over the spot price for each one
29:21
ounce of silver or gold that you want to buy.
29:24
The only reason they go up is because of investor retail
29:27
investor demand. Are we going to see that again
29:32
here right within maybe what I mean today's Thursday a week
29:36
from now. I didn't even think about that.
29:39
I got a feeling I'll go out on a whim that there's a forty 3040%
29:44
chance that we could see an incredible spike in demand for
29:49
the physical metals. Don't make any financial
29:51
decisions. I'm just kind of telling you
29:53
what what I see coming as we head through this next week.
29:56
It's going to be an interesting, interesting development.
29:59
OK, And meanwhile, as we talk about silver, as we talk about
30:03
silver, meanwhile, meanwhile back on the ranch, guys, it
30:07
never seems to end. Hold on here.
30:11
Wrong 1 Jesse Colombo brings up this.
30:13
Another morning, another silver slam, he says, and this was
30:17
yesterday and it's probably again today, right?
30:20
This is again today. This has occurred.
30:22
Is the Comex. Are they manipulating?
30:26
Thank you, Susie Silver Surfer. Thank you for your super chat,
30:29
my friend. I'm going to pull it up here in
30:30
a second. This has occurred 5 out of the
30:33
last eight trading sessions. The banking cartel is doing
30:36
everything they can to stop silver from finally thriving.
30:40
I still believe silver will prevail.
30:42
So do I, Jesse. We're with you, brother.
30:44
But he circles on here, the silver slams.
30:48
Looks like this was yesterday morning, the 30th, right?
30:53
That's when the COMEX opens. Here we go back on the 25th.
30:57
Comex opens the 24th to see the big red line.
31:01
See the big red slams. So is, is, is the Comex are the
31:06
big banks, are they are they manipulating the price of silver
31:10
down? Are they causing pain in the
31:12
silver market because they don't want the price of silver to go
31:16
up? It's very interesting.
31:17
Now we talk about this all the time, but I, I wanted to show
31:21
this one to you guys that thought it was a, a great here
31:24
we go. The silver lifeboat.
31:27
Silver is real money for Michael Sanchez.
31:30
We talk about this, right, Like that's you and me.
31:33
We're at we're already in the lifeboat going away from the the
31:37
sinking ship and that's the US dollar.
31:40
And look at the people on the boat.
31:41
Help, help, help, right, Sorry guys, too late, right.
31:45
And there, well, there he is right there.
31:47
He's a silver head. I didn't notice that the guy has
31:52
a the guy has a a silver eagle for a head.
31:58
Hold on a second. All right, Susie, don't forget
32:00
to squeeze the Boo bears foot. OK?
32:03
All right, hold on. We got more to talk about with
32:06
silver. I want to go back out here.
32:08
Silver Surfer. Thank you my friend for the
32:11
Super chat he's got. He's got a comment.
32:14
Let's see what he has to say. Gold and silver go up when when
32:17
the wind and mist from the Unicorn fart dust smells ripe.
32:21
Yes, it'll go back up. I know today.
32:23
Thank you my friend, and thank you for the content that you put
32:26
out there as well. It will go up.
32:30
Let's go take a quick look and then we want to look at some
32:33
more good news on the charts for silver.
32:37
But boy, oh, boy, boy, oh, boy. Down a dollar.
32:42
Oh, boy. You know what we get.
32:43
Really. I know it's short term that I
32:46
don't like to see. I'm sorry.
32:48
I don't like to see silver down by a dollar.
32:51
What the heck is going on, right?
32:53
I mean, come on, really. Down a dollar?
32:56
Maybe, maybe, right. What we just looked at is indeed
32:59
true. We need to do an emergency visit
33:03
back to the futures. That's gold.
33:07
I have silver up over here. Yeah.
33:09
So let's take a look. Let's get an update here on the
33:11
silver and the futures market. Down a dollar one in the futures
33:16
market as well. 33 O six man. Look, we're still we're still
33:23
OK. You know, let's see now let's
33:25
see if this if this support level at 3250 holds right?
33:30
Are there people who are going to rush in and buy silver at
33:34
this level? I think it will.
33:36
I think we're going to bounce upward.
33:38
I also want to be realistic, right?
33:40
It's not the end of the world if we dip below it.
33:42
It's going to stink. You're going to see tears
33:44
rolling down my face. We'll be together.
33:47
We'll make it through it all. OK.
33:48
Now, let me pull up for you. Here it is.
33:55
Yes. OK, Hold on here, guys.
34:02
Wrong one, wrong one. OK, This is from Dow Gold equals
34:07
0 breaking out from a significant descending channel,
34:11
which we're still doing. OK, I like the symmetry of the
34:15
pink consolidation label one and two, $38.50 is just the first
34:21
stop. Let's pull this up and take a
34:23
look at what he's talking about here.
34:25
OK, this is a long term channel going all the way back to 2011
34:30
when you can see we had you know the $50 per oz silver.
34:34
This is probably weekly closes I would imagine and silver has
34:38
been in this downward channel the whole time.
34:42
OK, now it is broken out. Now couple key things on this
34:47
chart. You can look over here on the
34:48
right, right there was that wedge pattern that we broke out
34:53
of. We are still right, still,
34:56
definitely still broken out. That still is in play.
35:00
The other thing that he draws on here, OK, show that S stands for
35:04
shoulder, the H stands for head, and the S stands for shoulder.
35:09
For those of you who are new, I'm going to quickly draw what
35:12
he's talking about. That's the inverse head and
35:15
shoulder. So shoulder, head, shoulder,
35:20
which goes uppity, uppity, uppity.
35:22
Not today, but that's generally the case.
35:24
That's the upside down inverse head and shoulders pattern.
35:28
Now when he measures the move, that is this part from here to
35:32
here, from the baseline of the head and shoulders.
35:34
Let me draw a quick line on here for you.
35:38
OK, from here, see that little yellow arrow to here, there's
35:42
the baseline and there's the the tip of the head that move with
35:46
that pattern typically goes up to here, which is $38.50 silver.
35:53
So not all not you know, I know today it feels like all hope is
35:58
it's a painful day to own silver, no doubt about it.
36:02
I don't even want to go check the price again, but we will.
36:05
We don't give up. OK, another.
36:08
We all know if you heard breaking news, breaking news,
36:14
there's a silver deficit. Yes, the world consumes more
36:17
silver on an annual basis than it produces.
36:19
My gosh, I know, right? We've heard that a zillion,
36:23
zillion times. But to see it, do you want to
36:26
see it? I thought this was probably one
36:29
of the best visual representations of that that I
36:33
have seen. And I and I want to show this to
36:35
you. Here it is, OK, from Eric Young,
36:38
King Kong, this guy I was in Hong Kong I believe, great
36:42
analyst in the sort of great, a great proponent of silver and
36:46
gold. He says the gold and silver
36:48
manipulation is breaking now because of the physical supply
36:52
deficit, the East and it's proxies standing for delivery at
36:57
the Western metals exchanges. But look at this.
37:01
I'd never really visualized it like this.
37:04
This line here, OK, is total mined silver supply.
37:09
This, what would you call that turquoise colored like light
37:12
green color line. See how that's going for this?
37:15
What since 2022 really going down, down, down the dark blue
37:21
line total silver demand excluding physical investment.
37:26
OK, so that doesn't even include the investment.
37:29
I mean, and do you see this right, this started back in what
37:32
2021? They kind of crossed 2000 and
37:35
2000, excuse me, in 2022 silver consumption exceeded mind supply
37:43
for the first time. So it was 2022.
37:47
So now this is the amount of consumption.
37:50
No, we talk about it a lot. We talk about the numbers, but
37:53
look, guys, this whole area, hold on here, we got to do a
37:59
different color. I'm sick of red.
38:01
You know, orange is my favorite color.
38:03
This whole area. Oh, you know what?
38:06
Yeah. OK.
38:07
Well, anyway, this whole area in here, right?
38:12
That's the silver deficit. OK, That's what's going on.
38:17
Hold on. I'm getting text from all over
38:19
this morning. OK, OK, squeeze the bat.
38:23
Stomach and microphone screams for 200.
38:26
We need 700 more thumbs up. Anyway, that's what you can be
38:29
happy about even on a day like today when we have this, I'm
38:34
telling you right, if you buy silver today as opposed to it
38:37
bought it yesterday, you're saving yourself about a dollar
38:40
an ounce. I always say I buy silver on
38:42
date. There we go we're back or we're
38:44
we're not no longer down a dollar, we're down $0.94 per oz.
38:48
Hey, you never know how this day could end, but I would not be
38:52
too optimistic that we're going to get a a move back above the
38:59
our back into the green level. We'll see how the day plays out.
39:02
Let me Susie wants me to squeeze the bat's stomach.
39:07
I got to fix the oh, shoot audio here.
39:10
Hopefully I don't screw anything up and background noise is off.
39:14
OK, guys, we got I'm sure we have 200 thumbs up the bat.
39:19
Which one's the bat? That's the bat.
39:22
Am I supposed to squeeze this? Oh, wait a minute.
39:26
Sorry, guys. Maybe you can see me.
39:29
Oh, boy. OK, here we go.
39:30
Happy Halloween to all the basement dwellers from Susie's
39:34
bat. She wants me to squeeze it for
39:36
200. Thumbs up.
39:37
Seriously, guys, I hope you have a good Halloween.
39:39
I hope you're not like me. I always get stressed out around
39:41
the holidays because I get stressed out about everything.
39:44
But you know what? It's a fun day for kids.
39:46
We have twin 12 year old daughters.
39:48
They're excited. You know, maybe you get to get
39:50
some candy out, be nice to your neighbor kids, and here we go.
39:58
I'll do it twice for 200 thumbs up.
40:01
OK All right, we're going to put him back here for now because we
40:07
got a lot more to talk about. Yes, the mining stocks have been
40:10
killed OK the last the last few days.
40:14
I'm telling you it's a risk off environment right now.
40:17
Everybody's nervous Pervis about the election coming up and
40:21
what's going to happen and there's so much uncertainty.
40:24
We probably from an uncertainty perspective right now are at the
40:29
peak of what I I've really felt in the markets for at least, I
40:34
mean, probably in the last 10 years when it comes to real
40:36
uncertainty about like, what's the world going to look like two
40:41
months from now? What's the world going to look
40:43
like six months from now? What's the world going to look
40:46
like one week from now? OK.
40:49
So there's a lot of uncertainty. People are getting out of
40:52
everything, right? Probably going to cash.
40:55
And we're seeing that in the general stock markets.
40:57
We're seeing that in the gold and silver market.
40:59
So hang in there. OK, Let's look at this.
41:04
Bitcoin is going through the roof all right and house and not
41:10
now you know, look, I'm not anti Bitcoin.
41:12
I do not own any crypto. That's great if you do.
41:15
I'm not crypto people and gold and silver people share so much
41:21
in common. We have a lot more in common
41:23
than we do indifference. We got like 98% in common, but a
41:27
lot of crypto and precious metals people are at big odds
41:31
with each other. Like they don't hate each other.
41:33
They, I hate to use the H word, but they, they strongly dislike
41:37
each other because of that last 2%, which is how they how they
41:41
choose to protect themselves, to protect their assets.
41:44
OK, now listen to this. This just brought up a good
41:48
point. Then I'll share with you my
41:49
thoughts on crypto. Anastra House of Gold said the
41:53
US government, the banks, Wall Street, all want you to buy
41:56
Bitcoin, but they do not want you to buy gold nor silver.
42:01
Think about that. Think about that, guys.
42:04
And you know what? That's true?
42:05
The government, the banks, Wall Street, they all are Bitcoin,
42:09
Bitcoin, right? Everything's Bitcoin, crypto,
42:12
blah, blah, blah. Here's my thought.
42:15
And again, this is not I'm not a anti.
42:17
I think whatever you want to do with your money's great.
42:20
I'm not bashing crypto, but I still have this strong suspicion
42:25
that the crypto world was created as a diversion to keep
42:29
money from going into gold and silver because the Fed, the,
42:33
the, you know, the paper dollar, they all really, really dislike
42:38
gold and silver. I just think that there's a
42:40
chance that that could be the case, right?
42:43
And that all this money I read yesterday, I forget how many
42:45
billions went into the Bitcoin ETF yesterday, right?
42:50
That all that money, what if otherwise gone into gold and
42:54
silver right now? Who knows what's going to happen
42:57
to crypto. There's some people that say
42:58
it's just nothing. Bah Bah, you know, I'm again,
43:01
I'm not going to fight that war. I'm not against it.
43:03
I'm not for it, but but the fact does remain that I think a lot
43:08
of the money that's gone into crypto would have gone into
43:11
silver and gold. And as the whole crypto Bitcoin
43:14
thing plays out, you know, it'll be interesting to see how that
43:20
impacts the silver price and the gold price.
43:23
I'll, I'll leave it at that. But I also want to mention,
43:27
right, just because Wall Street is backing it, just because of
43:30
the, the government is, you know, whatever, leave that all
43:34
alone, right? We, we, we know that Wall
43:37
Street, just for an example, also encourage people to buy
43:41
into mortgage sold mortgage-backed securities
43:43
before the great financial collapse of 2008 to 2007, 2008.
43:48
So whatever happens, but with that I just I'm a little
43:53
suspicious is all I'll say and I'll tell you that's I'm gonna
43:58
say tinfoil hat conspiracy theorist.
44:01
It's a suspicion that I have a speculation that I have
44:06
certainly no proof or anything along those lines.
44:08
What about the economy? When the economy gold and silver
44:11
will will will be the ultimate benefit when this economy when
44:15
the market when the money printing starts up right because
44:20
the market goes down big. When the when the economy goes
44:23
down big, the only game left in town for the Fed will be to
44:26
print money. Let's look at a couple startling
44:29
recent headlines about what is going on in our economy right
44:33
now. Kobe C letter right US layoffs
44:36
jumped by 160,000 in September to almost 2 million, the second
44:41
highest in four years. Monthly layoffs have increased
44:44
by 540,000, or 42% over the last three years as the labor market
44:51
has slowed. But wait, there's more, right?
44:54
When we look at the market right now, investors are paying 26
44:58
times peak S&P 500 earnings, the highest valuation we've seen
45:03
since 2050% above the historical median.
45:07
What that is telling us is that the market is in bubble, bubble
45:12
territory, right? Remember the tech bubble?
45:15
It was higher back then, but not by much.
45:17
And look now, the premium that investors are paying, right?
45:22
Darn near record territory. And then what?
45:27
It makes sense that institutional traders just sold
45:32
the most amount of stocks. This is the big money the
45:35
institutions last week in more than nine years in every bubble
45:41
like 19/29/1987 2001 and 2008 bubble, bubble, bubble.
45:47
The last stages were when institutions started dumping on
45:52
the bag holding retail which buy it up.
45:55
This bubble will pop and take a look at this chart.
45:58
OK, this is a second largest net sale by institutional clients in
46:03
our data history since 2010. All right, look at that's the
46:08
amount of sales circled in red. This is from Bank of America
46:12
Securities, right? So this is real, guys.
46:15
This is what's going on. But do you know what's even
46:17
scarier right now is when we have Jamie Dimon, right the
46:22
head, right? The CEO of JP Morgan Chase,
46:25
Jamie Dimon tells us this. Get ready from Newsweek.
46:34
World War 3 has world. This is Jamie Dimon, the CEO of
46:38
JP Morgan Chase. World War 3 has already begun.
46:42
JP Morgan boss says that's important to silver and gold
46:46
investors because when the world is in conflict, nobody wants to
46:51
own each other's paper make believe money because as you
46:56
might imagine, the paper make believe money is backed by
46:59
nothing but confidence, trust. And when the world is at war and
47:04
major changes are going on, people don't want to hold the
47:07
paper. People want to hold real assets.
47:10
Let's just briefly see what he said here.
47:14
The banking institution CEO Jamie Dimon said in a recent
47:17
speech at the Institute of International Finance that the
47:20
current conflict in Ukraine and the Middle East has already
47:24
begun a third World War. OK Diamond previously called
47:30
Russia, North Korea and Iran the evil access that alongside China
47:34
will hurt institutions like NATO.
47:36
And they're talking about doing it now, Diamond said at the
47:39
event. They're not talking about
47:41
waiting 20 years. And so the risk of this is
47:44
extraordinary if you read this story.
47:48
And we don't want war. We don't want, you know, but we
47:50
also don't want to hold our heads in the sand, guys.
47:54
And as the world goes through major changes, maybe you've
47:57
decided, right to protect some or all of your assets with
48:00
precious metals. We're going to go out and check
48:02
the silver and gold price one more time.
48:04
But I do want to say thank you to our channel sponsor First
48:08
Mining Gold. They had some news out this
48:09
morning. You can go to their website to
48:11
check that out. First Mining Gold is a
48:14
development stage company. They have two multi million
48:16
ounce gold projects in Canada, development stage gold in the
48:20
ground in Canada. And I want to say thank you to
48:24
Fortuna Mining. There are producing silver and
48:26
gold mining company silver and gold in Latin America and gold
48:30
production coming out of a ever growing production profile that
48:35
they have in West Africa. Now let's go check out, let's go
48:40
check. Oh, we Oh my gosh, we almost
48:41
forgot we got to go to the debt clock too.
48:43
We got, we got a lot more to do guys.
48:46
Here we go. I'm going to acknowledge that
48:49
and silver down 94 cents. We're going to press the button
48:54
here. Silver down $0.91.
48:56
So gotten a little bit better. I really, I don't know about
48:59
you, but I really, really my blood pressure does not
49:03
appreciate when the silver price starts with a down and it's 1
49:09
and that's a $1.00. So we will take that.
49:11
Let's run out guys to the US debt clock.
49:15
And just to make sure things aren't improving on that front.
49:22
There's the US national debt woof, quickly approaching $36
49:27
trillion. Yes, that's trillion.
49:29
This is going to be, I wonder how much press coverage this
49:32
will get when the interest on the debt and it's happening
49:35
soon. I mean, look at this.
49:37
That's, this is just the interest.
49:39
This is what you're paying in interest.
49:42
And I think it's like 20% of every dollar in taxes you pay
49:46
$0.20 of it goes just to interest.
49:48
You get nothing for interest. That's just an expense that you
49:52
get nothing in return, right? 20% of the money you pay in
49:57
taxes. But it'll be, and what do you
49:58
think? Do you think that the press will
50:00
pick up and say, Oh my gosh, the interest on the debt?
50:03
Probably not, but we'll see how it plays out.
50:06
Let's go to our favorite. Oh hey, honest Engine.
50:10
I checked this earlier. It was at 9:50.
50:12
The dollar to silver ratio, the number of paper dollars being
50:16
created in the M2 money supply for each one ounce of silver is
50:22
now at 952. Let's see today's Halloween.
50:27
Let's go out to our let's just see how that's been, how that
50:30
compares to previous days 1031. I appreciate you helping me do
50:36
this. Data entry 951 OK.
50:41
So as you can see it's the increase rate has slowed down,
50:45
but we continue to see more and more paper money via the M2
50:50
money supply being created for each one ounce of silver coming
50:54
out of the ground. I am not saying that the silver
50:56
price should be $950. This is just an interesting way
51:00
to look at the amount of paper money being created on an annual
51:05
basis versus 1 ounce of silver and that number for each one
51:10
ounce of silver is $950. Again, you know, not too long
51:14
ago over about 8-9 days ago we were in the 700 range, but now
51:20
we're we are healthily into the $900 paper dollars being created
51:29
for each one ounce of silver. Let's go take a look at the
51:32
general markets guys and see what is transpiring.
51:36
Today had the works of an ugly day.
51:40
You have a NASDAQ, the tech stocks are down 2%.
51:43
Who was it last night? I think Microsoft got dinged
51:48
gold price down $34 in the futures market.
51:51
I know that that really is painful.
51:54
OK, however, let's take stock right?
51:57
2766 dollars. Let's for fun, let's make
52:04
believe this is Halloween. Let's go for a let's go for a
52:09
trip together guys. Were you alive a year ago?
52:12
Yes you were most likely. I don't think we have any babies
52:15
watching us today. Nonetheless, I'm 54.
52:20
Last year I was 53. How old were you last year?
52:23
Take your current age and subtract 1.
52:26
On a serious note, one year ago today, where was the gold price?
52:31
Do you know? Right?
52:32
We're going to find out. Let's go.
52:34
Let's go take a look. OK Gold look at all that red
52:42
everything some oil is down none the less we're we're here to see
52:47
one year ago Halloween 2023 and gold was gold was oh gold was
52:56
below $2000.00 an ounce right open high closed at 1978.
53:03
Look like looks like Halloween is not a good day for the gold
53:06
price. It was down .32%.
53:08
See my little yellow plus sign over here.
53:11
Hold on getting more text. Oops, oops.
53:17
OK, all right, so gold, guys, gold was gold was under $2000
53:24
today, right now we're at 2766. So imagine last year right now,
53:31
you and I in the basement, right, 2023, Halloween.
53:35
And I'm like, you know, guys, we're fighting.
53:37
Look, it's gold's looking pretty good.
53:39
We're almost to 2000, right? I'd probably go back and look at
53:42
the live stream. I'm like, come on, we can do it.
53:45
And what if what if you told me? Yes, you, you told me, right?
53:51
Halloween 2023, I won't say that again, but you told me that.
53:56
Hey, Ron, a year from now, Halloween 2024, the gold price
54:00
is going to be $750 per oz higher, right?
54:06
I probably was. Well, that's possible.
54:09
And if it does happen, we're going to be really happy.
54:13
But it's but you know, that's a pretty, that's a pretty lofty
54:16
expectation, my friend. That's where we are guys, the
54:20
gold price. Let's go take a look at silver
54:22
since we're having some fun. Where do you think silver was
54:24
exactly 1 year ago right now? Here we go silver.
54:37
OK, silver on Halloween 2023 and it was, I think it was lower,
54:48
right? Yes, last year Halloween, OK, 22
54:55
closed at $22.68. So we'll say 23 dollars, $10 per
55:02
oz lower what probably silver has gone up 45 percent, 40% in
55:10
one year. Look at this.
55:12
This is one year. So yes, OK, today stinks, no
55:15
doubt about it. But guess what guys, during OK,
55:18
this is critical for us to understand.
55:20
Now I want you to stay with me here because there's a reason
55:23
why on days like today, sure, it's no fun.
55:26
I'm not going to argue that point.
55:28
I'm not going to tell you that you should be happy about the
55:30
silver and or gold price. That's the move over one year
55:35
from basically 22 dollars, $23 to 30, $3 per oz in silver over
55:42
the last year. But I want you to look at
55:44
something here, OK? During that process we had, we
55:48
had days, I'm gonna draw some more lines like this, OK?
55:52
We had days like this where silver probably dropped a
55:56
dollar. We had days like this.
55:59
We had couple days like this, right?
56:02
We had a couple weeks like this. We had weeks like this, but the
56:07
bottom line is we had this follow my arrow, an upward trend
56:13
in the silver price. We're still above that key
56:15
support level. We're fighting for it now.
56:17
My gosh, you know who would have thought we're fighting for it
56:21
right now. But when you look at it just
56:24
over a year, right, these, it's volatility.
56:27
Remember this, the letter V volatility, OK, right.
56:33
These are the down days over here.
56:35
These are the up days. It's just like the letter V that
56:38
starts volatility. That's why they chose, they made
56:41
it volatility, not volatility or or or solatility.
56:45
They made it volatility because that means down and up.
56:50
As long as the up days are bigger than the down days, we're
56:52
in good shape. Hey, Silver Surfer, thank you
56:55
again for the Super super chat. Don Howe, thank you for the
56:59
Super chat. Thank you for being here.
57:01
OK. Thanks for being part of the
57:03
basement. You belong.
57:05
I want you to know that you're part of this group.
57:07
You're always welcome here. We'll do our best to get
57:10
something out to you every single day.
57:12
Some type of fun news, analytical information on the
57:16
gold and silver market, on the mining stock sector.
57:20
OK, we're going to have up days. We're going to have some great
57:23
up days. We're going to have some
57:24
challenging days like we're going through today.
57:27
You're not alone, right? You're not alone in this
57:29
journey. You can always come here to the
57:31
basement. I'll look forward to seeing you
57:33
next time. Thank you and thank you to
57:35
channel sponsor pin backs. One more time, guys.
57:38
You know, if you waited till today to buy your silver, you're
57:42
getting a you get some bonus oz with all that money you saved.
57:46
Have a great one. Thank you and I'll see you guys
57:48
soon. Bye bye.