Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 Gold & SILVER Investor! 🚨 - You Gotta HEAR THIS! - (MASSIVE News for Gold & Silver Price)

Transcript

🚨 Gold & SILVER Investor! 🚨 - You Gotta HEAR THIS! - (MASSIVE News for Gold & Silver Price) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  Silver and gold have been taken behind the woodshed and are
• 0:03
  getting a good whipping. Yes, the price of gold and
• 0:06
  silver are going down. Some people are even say a
• 0:09
  little mini crash. Look, guys, we have nothing to
• 0:15
  worry about in this talk, in this live stream video, we're
• 0:19
  going to talk about what's happening, what we have coming
• 0:22
  up here, big news here in the next four and five days, and why
• 0:26
  we don't have anything to really be worried about when it comes
• 0:30
  to gold and silver. That's a fact.
• 0:32
  I know days like this are no fun.
• 0:35
  Days like yesterday are no fun. I'm with you, I'm not enjoying
• 0:39
  it. However, it's part of the ride.
• 0:41
  Remember, it's a bumpy ride, but it's a ride up and we are going
• 0:46
  to talk about what's going on right now.
• 0:48
  Thank you for being here. Thanks for being part of the
• 0:50
  basement. I hope you feel like because you
• 0:53
  are part of the group, please subscribe to the channel that'll
• 0:57
  help us give the video a thumbs up and super chat.
• 1:00
  Super thanks are never expected, always appreciated.
• 1:04
  So we've got the big Fed meeting next week.
• 1:07
  Be prepared. We could see a further down
• 1:10
  draft in the gold price. But listen to what Gary Savage
• 1:13
  has to say. Yes, that Gary Savage, that
• 1:16
  famous gold and silver analyst himself said this.
• 1:20
  Gold is dropping right now into either 1/2 cycle low or a full
• 1:26
  cycle low. The likely trigger event for the
• 1:30
  bottom is the FOMC meeting. That's the big Fed Gomer Pyle
• 1:35
  meeting next week where the Fed is going to cut by 25 basis
• 1:39
  points. Once that's out of the way, gold
• 1:41
  should make a run to retest the all time highs $3000 will be a
• 1:48
  piece of cake this spring, maybe even in January.
• 1:54
  OK, so Gary Savage is telling us January early spring $3000 gold
• 2:00
  things are going to be OK. Maybe you question, do you
• 2:03
  question yourself from time to time about your decision to
• 2:06
  invest into precious metals, possibly the precious metal
• 2:09
  mining stocks? Again, I'll say it one more
• 2:12
  time, the big V word volatility. We'll have UPS, we'll have
• 2:17
  downs. We will continue to the the
• 2:20
  upside and let's go take a look and see what Gary was just
• 2:24
  talking about. Let's do a check on what the
• 2:28
  what the odds are for a rate cut.
• 2:30
  See if this has changed Yesterday when we checked again,
• 2:33
  this is the odds of 1/4 point rate cut at the next meeting of
• 2:38
  the Fed, which will be on Wednesday of next week, the
• 2:40
  18th. Let's refresh this and see if
• 2:44
  things have changed. I believe they have.
• 2:47
  However, now we're still, I mean basically 97% chance that we're
• 2:53
  going to get a quarter point rate cut, a 25 basis point rate
• 2:56
  cut next week. And guys, look, we talked about
• 2:59
  this a couple weeks ago. We talked about it over the last
• 3:02
  few weeks. The Federal Reserve is up the
• 3:05
  Creek without a paddle. The only thing the Fed will be
• 3:09
  able to do as we head into the future, 6 or one half dozen the
• 3:15
  other, right, Whatever you want to call what they're going to be
• 3:18
  doing, they're going to be printing money, diluting the
• 3:21
  currency. It will create inflation.
• 3:24
  It will create a higher environment for the gold price
• 3:28
  and the silver price. And I want to revisit something
• 3:30
  that Jerome Powell said about gold earlier in the week that I
• 3:34
  think maybe didn't get enough of our attention because Jerome
• 3:37
  Powell, he said the G word. Yeah, that's right.
• 3:39
  Jerome Powell said gold. Let's go take a look at this.
• 3:42
  And I want to tell you why I think this is so important.
• 3:48
  This was a big Bitcoin crypto headline, but really, really
• 3:52
  think about this. This was the biggest crypto
• 3:55
  Bitcoin highlight of the week. But it had everything to do with
• 3:59
  precious metals. It had everything to do with
• 4:03
  gold. Let's go back and I'll tell you
• 4:05
  why this I think is so important.
• 4:08
  I betchy Powell said what he said about crypto that may have
• 4:12
  aided bitcoins rally to $100,000.
• 4:15
  And this is what he said. He said that it's not a
• 4:19
  competitor for the dollar, it's really a competitor for gold.
• 4:24
  But he said something else that's even more astounding.
• 4:28
  But First off, he's recognizing gold, OK?
• 4:32
  He said that at the New York Times Deal Book Summit.
• 4:35
  But then look at this. This is hilarious.
• 4:39
  However, Jerome Powell also maintained that Bitcoin is not a
• 4:44
  challenge for traditional currencies.
• 4:46
  Not a challenge for traditional currencies such as the US
• 4:52
  dollar, but rather for gold traditional currencies.
• 4:57
  OK, Bitcoin, what is we need to get Jerome out quickly, right?
• 5:03
  He's he's getting to his his who knows how much longer he's going
• 5:07
  to be there at the Fed. We need to have a talk with this
• 5:10
  guy. OK, Jerome traditional currency,
• 5:13
  the most traditional currency in the on the history of the world.
• 5:19
  Hold on, put him back in his box.
• 5:23
  Is this Jerome Silver? Sorry, Silver.
• 5:29
  He's saying, he's saying that Bitcoin, Bitcoin, Bitcoins, not
• 5:34
  a he's calling the dollar a traditional currency.
• 5:38
  OK, you know, sure. If you want to believe in Santa
• 5:42
  Claus, Jerome, if you want to believe in the tooth fairy, do
• 5:46
  you believe in the tooth fairy? Do you believe in Santa Claus?
• 5:48
  They're fun things to believe in.
• 5:50
  Absolutely. I believe in Santa Claus in case
• 5:53
  we have any of our fellow believers here.
• 5:55
  But you get my point. Most likely, right?
• 5:57
  Sure. Yeah.
• 5:58
  The dollar is a traditional currency.
• 6:01
  No, Jerome, this. I'm getting angry.
• 6:06
  This is a traditional currency period, end of story, kaput.
• 6:11
  So let's talk about the gold price and the silver price.
• 6:14
  We've had some a few down days, right?
• 6:17
  Here's what we need to remember. In particular with silver,
• 6:21
  $32.31 dollars, $30.00, right? And we've been buffing.
• 6:25
  We hit 32 the other day. Let's go take a quick let's get
• 6:28
  an update on the price. I know it's not good.
• 6:31
  OK, as much magic as they have at pinbacks, I don't think we
• 6:35
  can. We can expect a green number
• 6:37
  today. Silver's down $0.54, so we're
• 6:40
  getting close to $30.00 and we were close to 30.
• 6:44
  We were at $32 just what, a few short days ago?
• 6:49
  Gold, $2660 per oz. So if you waited a couple days
• 6:54
  to buy your silver and gold, you can get a much more, a much
• 6:58
  better deal. Today I want to say thank you to
• 7:01
  Pin Backs for sponsoring Ron's basement.
• 7:04
  OK, It's a big privilege to me to get to talk about Pin Backs
• 7:07
  because I was a customer of theirs before they sponsored the
• 7:10
  channel. Great experiences, great
• 7:12
  feedback that I've received from our community.
• 7:16
  If you're going to buy some gold, silver or platinum group
• 7:18
  metals online, I will never tell you what you should, but I will
• 7:22
  say that you may benefit from checking out Pen Backs.
• 7:26
  You're going to find that they have ultra competitive prices.
• 7:29
  They got a great selection, and it's a company that you can
• 7:33
  trust. And time for the big warning,
• 7:35
  warning, warning, warning. Please, if you or anyone you
• 7:40
  love or care about, even remotely care about, ever
• 7:44
  decides to convert part or all of an IRA into precious metals,
• 7:49
  please take your time. And I want to give you another
• 7:53
  double warning. There's no such thing as 10,000
• 7:56
  or $15,000 worth of free silver like some of these companies
• 8:01
  advertise on their television advertisements.
• 8:04
  OK, do do your homework, take your time, talk to a lot of
• 8:08
  people. The guys at Pembacs would be
• 8:10
  happy to talk to you as well. At the end of the day, compare
• 8:13
  all your options, Compare how many actual ounces of metal
• 8:17
  you'll get from each one, because I think you'll be
• 8:19
  shocked. And you could literally save
• 8:21
  yourself thousands of dollars, potentially hundreds or
• 8:24
  thousands of Oz as well. OK.
• 8:27
  And after that, so 31 dollars, $32.
• 8:30
  Look, we're building. Let's let's take a step back.
• 8:34
  I know it's painful, but it doesn't have to be so painful
• 8:38
  because if we can keep silver above this $30 range, actually
• 8:43
  the the point that we pulled back again, as long as we don't
• 8:46
  breakthrough. Look, if we get down to $2827.00
• 8:49
  silver, I'm worried. Are you worried?
• 8:52
  I'm not worried long, long term, but on a short term, I will be
• 8:56
  worried if we can hold. Let's go look at the chart.
• 9:00
  If we can hold the gold price. Hold on.
• 9:04
  Do I have you guys on the right screen?
• 9:06
  I do. Sorry about that.
• 9:08
  Let's go. Let's go out to Yahoo Finance
• 9:11
  quickly and go to silver. Let's see what the markets are
• 9:15
  doing today. Also add the S and PS down, the
• 9:18
  Nasdaq's down. Oh my gosh, the Nasdaq's down.
• 9:22
  Let's go to silver here. I'm going to show you what I'm
• 9:26
  talking about. There we go, and we're silver.
• 9:30
  There it is. We're building a base.
• 9:34
  Look, you can actually be glad that we've had these pull backs
• 9:38
  because what that does is build a more and more solid base from
• 9:43
  which we can make what a lot of people are saying is a run to
• 9:47
  make possibly new all time highs in 2025.
• 9:51
  I mean, look at this chart. This is a beautiful, beautiful
• 9:55
  thing for the silver price. OK, I know I get it.
• 9:59
  The down 59 cents part is not beautiful.
• 10:02
  But again, if we start back at March, look at this.
• 10:05
  All right, we are close. I got to say right where we are
• 10:08
  right now. But look at this red trend line.
• 10:10
  It is critical that we stay kind of above where we where we are
• 10:14
  right now. We'll see how today finishes
• 10:17
  off. Now I want you to also look at
• 10:20
  this gosh, I can't believe I mean it has been an utter
• 10:25
  battle, but you can just look at the where the green line is the
• 10:28
  green dotted line, which is essentially where we are right
• 10:33
  now in the silver price. We have been battling in this
• 10:36
  range. Wow you know trying to get
• 10:41
  either above or below here above or below 30 below 30 above 32
• 10:47
  for quite a while. So look, the fact that we right
• 10:52
  now are building this base, I, I really do truly believe the
• 10:57
  longer the base is built, the higher the move, the more
• 11:00
  powerful that the move will be in the 32.
• 11:04
  I heard, I heard one of the big analysts last night talking
• 11:06
  about the move from 32 to 40 can happen quickly.
• 11:12
  And we don't like to admit this about our friend Silver in
• 11:14
  particular. I know we're going to focus in
• 11:16
  on silver here just a little bit, but silver's very
• 11:19
  temperamental. Silver is like, is like the is,
• 11:23
  is, is. We know it's bipolar, right?
• 11:26
  It's a monetary metal. It's an industrial metal.
• 11:29
  It's like one of the only ones that really has those two core
• 11:33
  characteristics. So it's bipolar, but it's also a
• 11:36
  little crazy, right? A little schizophrenic, if you
• 11:40
  will. When it moves, it moves very,
• 11:43
  very quickly. And remember this fact that
• 11:47
  we've moved up to 30, that has been done with almost zero.
• 11:52
  I mean, not a involvement or participation from the Western
• 11:57
  investors. So let's talk about why we're in
• 12:00
  this downturn. We need to understand what's
• 12:02
  going on and why it can change and when it will change because
• 12:07
  we've got big, big things coming down the Pike, right?
• 12:10
  In the next, I think 8 weeks, 12 weeks, we're going to have some
• 12:14
  serious, serious uncertainty out there, which likely could result
• 12:20
  in a big move, a flight to safety.
• 12:23
  It'll initially happened with gold, but trust me, it will
• 12:26
  filter through to the to the silver market as well.
• 12:31
  But let's go take a look at what they're what they're what.
• 12:33
  We can blame this most recent spout of difficulty on the
• 12:38
  dollar. OK, this is all temporary, but
• 12:42
  the dollar went higher on fresh inflation data and the euro
• 12:45
  lower. So this is what really happened
• 12:47
  yesterday that started the kind of kicked off this downturn. the
• 12:51
  US dollar rose on Thursday after a hotter than expected inflation
• 12:55
  readout, and the euro traded a touch lower following the EC BS
• 13:00
  decision to cut interest rates. So yesterday we had a high
• 13:04
  inflation number, which in the long run is good for the gold
• 13:07
  and silver price. But in the short run people
• 13:10
  perceive that is bad because high inflation means the feds
• 13:13
  going to be have to be tighter with monetary policy.
• 13:16
  But we know that the Fed is running out of options. the Fed
• 13:20
  really can't be tighter with monetary policy.
• 13:23
  So it's really a big joke, but the higher inflation number sent
• 13:28
  the dollar higher. On top of that, you had the
• 13:31
  Europe, the European, I don't know if you know this, but
• 13:33
  apparently the European economies are in big, major
• 13:36
  trouble. Germany, which is the biggest
• 13:39
  economy injure in Europe, is in big, big, big, big trouble.
• 13:43
  They're having economic hardship, I guess you could say.
• 13:47
  My, my heart goes out, Our hearts go out to our friends in
• 13:50
  Europe. So while the ECB lowered rates
• 13:54
  that made the value of the the euro go down, this is not that
• 13:58
  complicated. The euro went down.
• 14:00
  And since the DXY index, our favorite, our favorite thing to
• 14:04
  look at compares the dollar to the euro, that sent the dollar
• 14:09
  up. So here's an update on the
• 14:11
  dollar. Look, guys, I want to show you
• 14:13
  something this clearly will show you.
• 14:16
  I was, I was kind of taken aback when I looked at this.
• 14:19
  This is a three month chart of the dollar index.
• 14:23
  Remember, remember like right around October 1st, right around
• 14:27
  right around the time when Jerome Powell started cutting
• 14:29
  rates, the dollar index was at 100.
• 14:33
  It is gone up by 7% to one O 7, one O 7 on the dot.
• 14:38
  That is a massive move in what 9?
• 14:41
  So that was October, November in about 10 weeks.
• 14:46
  You can talk to anybody that is a major, major headwind to the
• 14:51
  gold price and we can say is probably the biggest reason why
• 14:55
  gold and silver have been struggling here for a little
• 14:59
  while. Look, you're sick of me showing
• 15:02
  you this, right? So stay with me.
• 15:04
  But we need to look at it where we are now.
• 15:07
  I won't draw the line, but at one O 7, we've not been higher
• 15:12
  on the dollar index hardly ever in the last what, 50 years a
• 15:17
  couple times, but maybe 10% of the last 50 years has the dollar
• 15:23
  index been higher. And when the dollar index goes
• 15:25
  lower, like we can see here, starting around 2001 through
• 15:30
  2011, as we talked about every single day, the price of silver
• 15:37
  during that period when the DXY index went down and it was in a
• 15:41
  bear market, you know what happened to the price of silver.
• 15:44
  A lot of you know the price of silver during that 10 year
• 15:47
  period went from under $5 per oz to over $50 per oz.
• 15:55
  Can you help me out with the math on that one?
• 15:57
  If something goes from 5 to 50, is that 100%?
• 16:03
  No, that's 1000% gain, a 10 times gain in the price of
• 16:09
  silver alone. So that's what we've got.
• 16:11
  Here's another way to look at it.
• 16:14
  Hold on here, hold on here, right.
• 16:19
  This came from bar chart, right? the US Dollar Index is going for
• 16:23
  its 6th consecutive Green Day, which would be its longest
• 16:26
  winning streak since October. I mean, this is a bar chart.
• 16:29
  Look at again, guys, look at this.
• 16:31
  I mean, it's just up, up, up, up, up, up, up, up.
• 16:34
  And that again, makes for a difficult environment.
• 16:37
  The good news in this is that it's like anything.
• 16:41
  It doesn't just go up, up, up, up, up.
• 16:43
  Especially the currencies, in particular the DXY index.
• 16:48
  It will fluctuate. OK, This is not a stock.
• 16:51
  This is not Bitcoin that just goes up and up and up and up and
• 16:56
  up. No, this is an index that
• 16:58
  compares two things to each other.
• 17:00
  So it will fluctuate, it will come back down and it will spell
• 17:04
  a good time for the gold and silver community.
• 17:07
  Make sure we got you. Look at this.
• 17:10
  This guy's great. This is another one of the
• 17:13
  smartest guys in the room. Gary Wagner, a lot of you know
• 17:16
  him, gold market volatility, decoding, the impact of the
• 17:22
  producers price index. But look at this, OK, like he
• 17:26
  says, I think he summed it up. Traditionally higher wholesale
• 17:29
  costs. So we got higher wholesale costs
• 17:31
  come out yesterday. Inflation PP is, but you may
• 17:34
  have heard it referred to as good signal potential
• 17:38
  inflationary pressure, traditionally a bullish
• 17:40
  indicator for gold, right? Traditionally high inflation
• 17:43
  like we got yesterday is good for gold.
• 17:47
  As a time honored safe haven asset.
• 17:49
  Gold has long been viewed as a hedge against inflation.
• 17:53
  Same thing for silver, theoretically becoming more
• 17:56
  attractive when economic uncertainty looms.
• 17:59
  OK, so we've got that right. We've got economic uncertainty.
• 18:03
  We have higher inflation, which is also stagflation, but I
• 18:07
  digress. However, the market's reaction
• 18:11
  defied this conventional wisdom, and that can only go on for a
• 18:15
  little while, suggesting a more nuanced factors at play.
• 18:21
  Right. Things aren't normal.
• 18:23
  There's weird things going on. The current market dynamic
• 18:26
  appears to be driven more by a trader behavior than a
• 18:30
  fundamental economic shift. I have a quick sip of coffee.
• 18:38
  After a remarkable 4 day rally that saw gold futures climb
• 18:43
  $97.00, rising from 2655 to 2755, the market seemed primed
• 18:51
  for a profit taking correction. So the market is not doing what
• 18:55
  it should be doing right now. We're in one of those we're, you
• 18:59
  know, we, we're in one of those little fantasy island zones with
• 19:02
  the Fed. We're coming up on the big Fed
• 19:05
  meeting. Think about the Fed, OK, The
• 19:08
  think, think this about the Fed. This may shock you a little bit.
• 19:12
  You may not agree with this, right?
• 19:15
  But the Federal Reserve has become nothing more.
• 19:19
  Jerome Powell in the Federal Reserve.
• 19:22
  They're losing their potency #1 that'll become more, that'll
• 19:27
  manifest more in 2025. And they're becoming more and
• 19:34
  more of nothing more. Not a bank.
• 19:36
  They're more of a public relations firm.
• 19:39
  Everybody's listening to what the Fed says, listening to what
• 19:42
  the Fed says, right? That's what the Fed wants is for
• 19:45
  people to listen to him. But if we examine things they
• 19:48
  said in the past like inflation, transitory went away.
• 19:52
  Thank you Cliff. Just call me a new odds.
• 19:55
  Thank you, Cliff. My word for that super chat.
• 19:57
  Wow, that is super generous. the Fed has become nothing more than
• 20:02
  a public relations firm. OK, because I want to show you
• 20:05
  something that will prove that point.
• 20:08
  That will absolutely prove that point.
• 20:10
  But wait till we look at this chart.
• 20:14
  This becomes very interesting when we look at interest rates
• 20:17
  and what has happened in the real market for interest rates
• 20:22
  subsequent to the Federal Reserve cutting rates.
• 20:28
  Here we go. We'll go look at the 10 year
• 20:29
  bond since the Fed cut rates. I mean, this is crazy, right?
• 20:37
  the Fed is losing it. Hold on here, let me pull this
• 20:41
  up bigger trying to make this bigger for you.
• 20:44
  How's everybody doing today basement do I had to go to the
• 20:46
  doctor this morning boy, and you know what and at the end of this
• 20:50
  live stream, I will go on a short rant about the about the
• 20:53
  healthcare system and give you my feelings about there's a big
• 20:57
  turmoil right now in the country with people.
• 21:00
  I think we hit a bud light moment, if you know what I mean
• 21:04
  for the for the healthcare system in this country, but
• 21:08
  nonetheless, here's a one year chart of the 10 year bond yield.
• 21:12
  This is when the Fed cut rates. OK the Fed cut rates in the 10
• 21:19
  year bond was at 3.6. Now since the Fed has cut what
• 21:24
  by I think 3/4 of a point, interest rates are up by 3/4 of
• 21:28
  a point, Mortgage rates are up by 3/4 of a point.
• 21:32
  The Fed has lost it. the Fed, the the world is calling the
• 21:37
  bluff on the Fed. It's as easy, it's as easy as
• 21:41
  that. Let me let me make sure I didn't
• 21:42
  miss anything here, which I don't believe I did.
• 21:47
  No. OK, Now let's let's show why,
• 21:52
  right? We always love to come check on
• 21:53
  this on a daily basis. I mean, look at this.
• 21:56
  Every time we come, there's another hundred billion, 36
• 21:59
  trillion, $200 billion of debt. Wow, that jumped.
• 22:05
  They must have had to make a a catch up entry.
• 22:10
  And the dollar to silver ratio today sitting at 1110 per oz.
• 22:16
  Yes, that means that for every one ounce, think about this,
• 22:20
  every one ounce of silver that's produced this year, every one
• 22:25
  ounce the US government is going to produce $1110 per oz.
• 22:32
  And I have something very important I want to share with
• 22:34
  you about that one ounce, if you have an ounce of silver, there
• 22:38
  we are on the on the 21st of October.
• 22:43
  So we can say, we will say two months ago we were at 729.
• 22:49
  What were we today, 1000 oops 1000, 1213 Happy Friday the
• 22:56
  13th, by the way, only four oops, I forgot a number there.
• 23:04
  All right, and we are we'll update this $1110.
• 23:09
  It's crazy guys, that we started out at 7:29.
• 23:12
  I want to tell you something interesting, a great
• 23:15
  conversation I had with a an executive from a silver mining
• 23:20
  company talking about just how hard there's not more silver
• 23:24
  coming. OK, no matter what.
• 23:25
  Thank you again, Cliff, for that super chat, my friend.
• 23:30
  We know that, right? We're not going to cover that
• 23:32
  whole story. But you know, there's not silver
• 23:35
  that all the easy silver in the world is gone, right?
• 23:40
  The silver that's in this American Silver Eagle coin could
• 23:43
  have been mined five years ago, could have been mined 50 years
• 23:47
  ago, could have been mined 2000 years ago.
• 23:50
  OK, all the easy silver is gone. But as I was talking with him
• 23:57
  about silver and like when you, when you hold, if you've got 1
• 24:00
  handy, pick it up when you hold that in your hand, right?
• 24:04
  All we like to look at and say what's so beautiful?
• 24:06
  It has. Why does this have value?
• 24:09
  Well, it's beautiful. Yeah, of course.
• 24:12
  It can be melted down and put into a solar panel or an
• 24:15
  electric car or AAI microchip. Sure.
• 24:19
  Is that where the value comes from?
• 24:22
  What we always forget about, which is so important, is the
• 24:27
  amount of work that goes into making a new one of these.
• 24:33
  A new one of these. OK, the amount of effort.
• 24:37
  So yeah, it's beautiful. Yes, it has all these
• 24:40
  applications. Yes, it's money.
• 24:42
  But we often all of us forget we make two big mistakes.
• 24:46
  Number one, we value these and and paper Unicorn fart test
• 24:50
  dollars. That's a whole different story.
• 24:53
  But on top of that, what we forget to realize is to get make
• 24:58
  a new one of these. What it takes.
• 25:00
  Think about that guys, OK, if you're if you got some some some
• 25:04
  eggs laying around or this here. I have a banana.
• 25:08
  I haven't eaten yet today my been in my daily banana right,
• 25:11
  This has value. I can eat it.
• 25:13
  That's great. But you can grow more on trees.
• 25:16
  It's not that hard to make more bananas to make another one of
• 25:19
  these. It is a massive amount of work
• 25:23
  and effort and toil exploration. All the work that goes into
• 25:30
  developing, permitting a new mine, all the work that goes
• 25:34
  into chipping away all the rocks right and then crushing it, and
• 25:39
  then all the processing to get it into a doe ray bar.
• 25:42
  From concentrate to a doe ray bar.
• 25:45
  Then it has to go to another refiner, get refined.
• 25:48
  Then it has to go to a mint to be made into this.
• 25:51
  We, we forget about that, right? We just look at this and they
• 25:55
  go, it's an ounce of silver. It comes from a coin store.
• 25:58
  No, it doesn't come from a coin store.
• 25:59
  That's like thinking that babies come from a stork.
• 26:03
  There's a lot of work, a lot of value embedded in this.
• 26:08
  Because to get another one of these, OK, you can't print
• 26:11
  these, right? Remember, this is real easy,
• 26:16
  real easy to make more of these paper dollars, Unicorn fart
• 26:20
  dust, whatever you want to call it.
• 26:22
  This this takes a ton, a ton, a ton of work, right.
• 26:27
  All right, guys, I'm going to wrap it up for right now.
• 26:29
  Thank you. OK, thanks for being part of the
• 26:32
  basement. Let's go.
• 26:33
  Let's go out though and check on the silver price one more time.
• 26:39
  Come on send backs. Come on, Silver 48.
• 26:42
  Hey, it's getting better. I may hop on later today we'll
• 26:45
  do an update on what's going on. Only down $0.48.
• 26:49
  Remember guys, this is this is normal.
• 26:53
  This is painful, but part of the process, right?
• 26:56
  Silver and gold will move up and down and round and round.
• 27:01
  They can they can drive you a little crazy if you let them.
• 27:04
  Thank you to channel sponsor Fortuna Mining.
• 27:07
  Looks like we're going to be with them for another year from
• 27:10
  what I understand. So thank you, Fortuna, a stock
• 27:12
  that I own and our friends over here at First Mining Gold, the
• 27:18
  Canadian gold developer, they've got two big projects, one of
• 27:20
  which is in Quebec, which is having a lot of, but there's a
• 27:25
  lot of acquisition activity that's been going on in Quebec
• 27:28
  and a lot of people think that that will continue.
• 27:31
  So gold in the ground in Canada. You can learn more about them at
• 27:35
  firstmininggold.com. Thank you guys.
• 27:38
  OK, I'll see you more. I'll be back.
• 27:41
  All right, I appreciate. Oh, I want to go on my rant.
• 27:44
  I'm going to tell you what there's a big the one of the big
• 27:48
  thing there's a lot of anger in the United States right now
• 27:52
  about the healthcare system came to a head.
• 27:55
  I in no way condone violence and I feel horrible about what
• 27:59
  happened to that, that CEO, you all know the story who was shot,
• 28:04
  but what it is done is it is galvanized a lot of rage and
• 28:08
  anger amongst the American people regarding the healthcare
• 28:11
  system. Now look, I have four years and
• 28:15
  even on this channel from time to time expressed my disgust
• 28:18
  with the healthcare system in this country.
• 28:21
  Hopefully it feels like it's kind of a Bud Light moment, if
• 28:25
  that makes sense. What's going on right now?
• 28:28
  Hopefully we can get something done in this country because it
• 28:32
  is a joke. The healthcare system, for those
• 28:35
  of you who are out of the United States, is the biggest RIP off
• 28:38
  scam, I think, in the history of the world.
• 28:43
  OK, all right, we pay. I have a family of four.
• 28:47
  I pay so much money for health insurance.
• 28:50
  And then like this morning I had to go to the doctor.
• 28:53
  It cost $45.00 then to go to the doctor.
• 28:56
  And then you've got all these other deductibles and it's like,
• 29:01
  and then on top of it, if you want to go to the doctor, you
• 29:04
  want to get anything done, you got to get it all pre approved
• 29:07
  and it turns into the biggest expensive hassle in the world.
• 29:12
  And I'm going to tell you this because I know this, I know a
• 29:15
  lot of doctors, OK? And everyone that I talked to
• 29:18
  says the system is screwed up. You know why?
• 29:21
  Because of big money corporate greed, big money for profit
• 29:26
  pharmaceutical companies, big money for profit hospital
• 29:30
  chains, and big money for profit insurance companies.
• 29:35
  I talked to doctors that tell me that like $0.70 of every dollar
• 29:40
  that's spent on healthcare in this country is spent on
• 29:43
  administration, is spent on those people that you have to
• 29:46
  call the insurance company. And I'm not saying anything.
• 29:48
  It's them personally that are there to try to make sure that
• 29:52
  they don't have to reimburse you for anything.
• 29:54
  I mean, it's understandable. I do not condone any type of
• 29:58
  violence, period. But it's understandable that
• 30:01
  Americans are angry, angry, angry.
• 30:05
  And I'm telling you, it's all because of big corporate for
• 30:09
  profit greed. Does it make any sense?
• 30:13
  Go turn your TV on, leave the live stream.
• 30:15
  Go, go turn on your TV and watch your take the television for one
• 30:19
  hour. I guarantee you you're going to
• 30:22
  see at least 4 pharmaceutical commercials.
• 30:24
  Why, why, why do pharmaceuticals have to advertise to the
• 30:29
  American public? I, I don't care about, about Jed
• 30:33
  or Jade, whatever his name is, Ned and his plaque psoriasis.
• 30:37
  And I'm, I'm like, I know I have medical conditions.
• 30:41
  I'm not saying OK, but why do pharmaceutical companies have to
• 30:47
  advertise to the general public? Because guess who's paying for
• 30:50
  that? You are.
• 30:51
  I am. OK.
• 30:53
  You are. I am.
• 30:55
  Why do these big insurance companies, right, are raking in
• 30:58
  billions of dollars in profit, right?
• 31:02
  Why are the hospital chains raking in billions of dollars in
• 31:06
  profit, right? Because it's all a big scam.
• 31:10
  Let me tell you something. We in America, this is a fact.
• 31:13
  We pay per person. You take the entire population
• 31:18
  and you and you figure up how much on average is spent per
• 31:22
  person on healthcare. It's like significantly higher,
• 31:26
  I believe even double higher than a lot of other countries in
• 31:30
  the world, Germany, England, Canada, right, because they have
• 31:35
  single payer health insurance and by most quantitative
• 31:39
  measures, the quality. And I was talking to my doctor
• 31:42
  this morning, he agreed 100%. He's a young guys probably in
• 31:45
  his like 40. So he's smart, he's hip, right?
• 31:49
  He's like, Oh yeah, the healthcare in all those
• 31:51
  countries overall is rated much higher than the United States,
• 31:56
  right? And don't buy this BS that they
• 31:58
  brain want the, the the big corporations that are raking in
• 32:01
  all the profits brainwashed us into believe in right, that in
• 32:06
  Canada or England or these other countries that you can never go
• 32:11
  to the doctor. You have to wait months and
• 32:12
  months to go to the doctor, blah, blah, blah.
• 32:15
  That's a bunch of bunk. And it furthermore, and he
• 32:17
  agreed with me on this, in the United States, you got to wait
• 32:20
  months and months and months to go see the doctor at some point.
• 32:23
  So you know what, hopefully, hopefully President Donald Trump
• 32:29
  will do something about the crazy health.
• 32:31
  He's a businessman. If he's a businessman and he ran
• 32:35
  a business and he looked at the fact if he was paying twice as
• 32:39
  much for something for his business that he could get a
• 32:42
  better quality product for a fraction of the cost, he would
• 32:46
  make the business decision to do it right.
• 32:49
  So you know what? I have a lot of respect for
• 32:52
  President Trump. If he can actually do something
• 32:54
  like because we know Biden and Kamala didn't do anything about
• 32:58
  it. It's a big joke.
• 33:00
  It's understandable why people are mad.
• 33:04
  People like me, right? And I've been talking about this
• 33:07
  for years, OK. And now it's getting all this
• 33:09
  attention again. I want to reiterate, I think
• 33:12
  it's a tragedy. Anybody, any type of vile, I
• 33:15
  mean, you know, but but but people outside of that, what
• 33:19
  we're seeing now are, are the American public speaking up and
• 33:24
  saying this is a big joke. This is a channel about gold and
• 33:27
  silver. I'm sorry I had to get that off
• 33:29
  my chest. But you know, I mean, you know,
• 33:31
  like I had to get an MRI done on my back like 3-4 weeks ago.
• 33:36
  It's, I mean, you got to go through all this rigmarole with
• 33:39
  the insurance company, with the hospital.
• 33:42
  And I've got good health insurance, Cigna, OK, And and
• 33:46
  then I get a bill and I'm paying 15 grand a year.
• 33:49
  I mean, it's crazy. It's insane.
• 33:52
  It makes no sense. And I'm telling you, it's not
• 33:55
  the doctors that are raking in all the money.
• 33:57
  No, right. It's the hospital chains, It's
• 33:59
  the insurance companies, it's the pharmaceutical companies.
• 34:03
  It's a big for profit RIP off is what it is.
• 34:07
  And I think the American people are fed up, right, because we're
• 34:10
  forced to participate in it. OK, I think I'm speaking maybe
• 34:15
  for a lot of Americans. Maybe you don't agree with me.
• 34:18
  Maybe you think we got the best healthcare in the world.
• 34:20
  We don't. We don't sure, maybe in some
• 34:24
  areas we do, but in a lot of areas we don't.
• 34:28
  And when Healthcare is the number one cause, from what I
• 34:31
  understand of bankruptcy in this country, what kind of country do
• 34:35
  we live in that if you just want to be healthy and follow the
• 34:39
  system that is going to run you in the bankruptcy, OK, I'm done.
• 34:46
  I apologize. I apologize.
• 34:48
  I appreciate you listening. But I think people, you know,
• 34:52
  I'm reading all these articles of all this like groundswell of
• 34:56
  frustration and anger about the healthcare.
• 34:59
  I mean, it's crazy, guys, It's crazy.
• 35:01
  I mean, if you're really rich, that's great, right?
• 35:04
  And if you're really poor and you get free health insurance,
• 35:07
  that's great. But if you're like a person in
• 35:09
  the middle trying to earn a living and raise a family, it's
• 35:13
  it's it's insane. Have a good day.
• 35:17
  Go gold, go silver. I'll see you guys soon.
• 35:20
  Thank you.