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🚨 Federal Reserve RATE CUTS to Ignite SILVER PRICE & GOLD PRICE 🚨 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
Does it feel like to you we are entering a new era for silver
0:07
and gold and it's going to be ushered in by the guy we don't
0:10
like? That's right, Jerome Powell in
0:12
the Federal Reserve. Rate cuts, guys, it is going
0:16
going back on the front burner. This whole idea of a rate cut in
0:21
this week will be pivotal. We saw some major, major changes
0:25
last week thanks to the jobs number on Friday, but this
0:29
coming week we've got big events happening which could be the
0:33
catalyst for the general market consensus to change to the fact
0:39
that we're going to have not just one, but two, maybe even
0:43
more. I heard one of the major banks
0:45
talk about eight rate cuts in the next 12 months.
0:48
I mean, it could be Crazy Town. And Are you ready for it, my
0:52
fellow basement dwellers? Are you ready for Crazy Town in
0:56
the gold and silver price? We could see prices propelling
0:59
much, much, much higher. But let's talk about what's
1:02
going on this week. Kind of lay the groundwork.
1:05
Look, let's get something else straight, OK?
1:08
We know that in the big, big picture, you're a 3D chess
1:12
player. You just don't you don't operate
1:14
on the surface, my friend. You're you're likely like me.
1:17
You like to dig in. You like to dive into the deep
1:21
end of the pool. And when you do that, you know,
1:25
you know that the bottom line for the value of that silver and
1:29
gold that you own, the bottom line is that the dollar will go
1:33
down, will continue. Unfortunately we don't like it,
1:37
but it will continue to go down in real value, real value.
1:43
How many, how many gallons of gasoline can you buy with $100
1:47
bill today? How many gallons of gasoline,
1:50
despite all the games that the Fed's going to play over the
1:53
next 10 years, how many gallons of gasoline do you think $100
1:58
bill will buy 10 years from now? You you know it'll be a lot less
2:01
than it is right now, but you also know that an ounce of
2:05
silver or an ounce of gold will very likely much more
2:08
confidently by about the same amount of gasoline 10 years from
2:12
now that it buys right now. But nonetheless, we got to play
2:15
the funny games with the Fed, right?
2:17
We got to play the funny games with the general market
2:19
consensus while they're still exerting a bit of sway onto the
2:25
silver in gold price. So let's go take a look at what
2:27
we have to expect this week because from a Fed news flow
2:32
perspective, it will be a big, big, big week.
2:36
OK, here we go. This comes from Yahoo Finance
2:39
this week, inflation data, Powell speaks and big banks
2:43
report earnings. What to know?
2:45
Oh, pain. There's our there's our fearless
2:48
leader popping up on the screen. Not a political channel, so I
2:53
won't comment on that. OK.
2:55
A reading on inflation and the start of second quarter earnings
2:58
will greet investors after a shortened holiday week that saw
3:02
stocks close near record highs. Here we go.
3:05
They're setting the table, guys. With job growth slowing,
3:09
investors will be closely watching the release of June's.
3:12
This is the big, big news event of the week, June's consumer
3:16
price index on Thursday as the case builds that the Federal
3:21
Reserve could be set to cut interest rates in September.
3:25
OK, so that's the big news on Thursday.
3:28
Again, we've talked about this already.
3:30
The number that comes out on Thursday will be lower than
3:36
anticipated, OK, But they're they're going to, they're going
3:38
to put out some unbelievably, we're winning the bar on
3:41
inflation. We're because suddenly they
3:44
were. There's two reasons why.
3:45
Number one, they know that the economy is crashing, which of
3:48
course when the economy crashes, guys, inflation goes down, OK,
3:52
number one. Number two, it's an election
3:54
year, so they want everything to look hunky Dory because that'll
3:58
help the sitting president who does still exert a certain level
4:02
of influence, let's say, over how these numbers come out.
4:07
I'm just saying I don't know how you feel about that, but to me
4:10
it's pretty obvious that that is the case.
4:13
So on Thursday, Ron's basement prediction, we're going to get a
4:17
a low inflation print, OK? That is very bullish for the
4:22
price of silver and gold. OK, also this week I didn't
4:27
realize this, but I got more news for you guys semi annual
4:30
testimony from the Federal Reserve chair Jerome Powell
4:35
before the Senate Banking Committee on Tuesday.
4:38
So on Tuesday he goes in front of the Senate Banking Committee.
4:41
The market will be, will be micro focused on every little
4:46
word he says and on, well, he goes in front of the House
4:50
Financial Services Committee on Wednesday.
4:53
So this is a big week from like a Fed perspective guys.
4:57
We've got Tuesday and Wednesday of this week, Jerome Powell's
5:01
going to be testifying in Washington DC.
5:04
Then on Thursday we're going to get to see and unfortunately
5:08
the, the, the silver price and the gold price.
5:11
And again, I want to reiterate this to you, 'cause it's so
5:14
important for us to remember this.
5:17
The silver and gold price is still being temporarily,
5:21
temporarily impacted rather significantly.
5:24
Sorry, I'm trying to hold on a second here, trying to adjust
5:27
my, the volume of my mic. There we go.
5:29
I think that's just right. That way I can talk to you
5:33
temporarily being influenced by these numbers, that's going to
5:37
change, right? The the big picture is at the
5:40
end of the day, the Fed has become nothing but a con game.
5:44
Smoke and mirrors, bubblegum and duct tape, however you want to
5:48
say it, right when the lights come on in the fun house, right?
5:51
The real values. But for now, for now, we have to
5:54
deal with this situation with the Fed.
5:56
So be prepared. Let's go back to the article
5:59
just to see what else we have to look forward to this week.
6:03
And oh, you know what, we've been good.
6:06
Let's, let's go on a little side trip here real quick.
6:08
Let's go over to the, our friends at Pinbec's.
6:10
Oh my gosh, gold is down a dollar per oz and silver is down
6:16
four cents at $31.11. Still hard for, I said, hard for
6:21
you to believe silver here in July is above $31.00.
6:25
And we'll, we'll take it. Just two weeks ago, we were
6:29
talking about we, we had $2829 silver and we were talking about
6:33
how important it is to hold the line at 27 or $26.
6:39
This could be an interesting, very interesting summer.
6:43
I want to mention to you that Pimbex Pi MB EX yes, the website
6:47
that we're looking at sponsors, Ron's basement.
6:50
This is not possible without the support of our sponsors.
6:54
So if you want to get your hands in some silver, gold, platinum,
6:58
do yourself a favor, check out Pembex.
7:01
I think you'll find what I found before they sponsored my
7:05
channel. You get the best prices,
7:06
selection and service. So when we look at these gold
7:10
and silver prices, guys, let's remember something.
7:14
Did you hear? I've got some breaking news for
7:16
you. Of course, right, Some breaking
7:18
news. Then we're gonna get back to
7:20
this, this big week that we got ahead of us.
7:22
But the the Chinese, it was announced today, the PBOC,
7:26
right, the People's Bank of China that remember a couple
7:29
remember about it was about a month ago, should have been
7:31
exactly a month ago. Let's go take a look.
7:33
Hold on here. Let's go out to let's go out and
7:37
take a look at the chart. Should have been about a month
7:39
ago today that we had the gold price got hammered by like $100
7:44
or $8080 per oz. Hold on here, let's go out to
7:49
this will take one second And here we go Goldie, there's our
7:55
friend Jerome Powell. So if we look at AI don't know
7:59
if it'll show up on the one month chart or not.
8:03
Well, you can see how low gold was right?
8:05
That was it. It was a $2300 that was on June
8:08
10th. But let's look at the six month
8:09
chart and May was probably about right here, right gold.
8:17
That was a Sunday night slaughter in gold.
8:21
And it was because it was because the People's Bank of
8:25
China announced and that they had not bought any gold in the
8:30
month of May, right? It was like shocking, right?
8:33
Oh my gosh. And it was used as a reason to
8:36
to tamp down the price of gold and of course, silver as well,
8:39
right? I think I remember, do you
8:41
remember silver? The Chinese central bank
8:45
announced they would stop buying gold.
8:47
This was early June, about one month ago, right?
8:49
Now stop buying gold. OK?
8:53
And the price of silver, if I remember correctly, went down
8:56
like $2.00 an ounce or some crazy amount like 4 percent, 5%.
9:00
I'm like wait a minute, what is this Chinese central bank think
9:04
about it? It's how crazy these markets are
9:06
and how manipulated they are. The COMEX and the LBMA, the the
9:11
Chinese central bank said they stopped buying gold.
9:13
Did you guys misread that? They didn't say silver, but they
9:16
tamped down the silver price by like $2.00 per oz.
9:19
Well, anyway, earlier today, news reports that I'm getting
9:23
and hearing from my contacts are that the Chinese central bank,
9:27
the P Bock, the P Bock, who doesn't like to say that?
9:31
Say it after me. Now you maybe have your
9:33
headphones on and your spouse, like, what are you saying
9:36
anyway? The People's Bank of China
9:38
announced that they again did not buy any gold in the month of
9:42
June. Oh my God.
9:43
And I thought, oh great. So here we go again.
9:45
We're going to have another slaughter fest and the silver
9:47
and gold price and they'll say, oh, the Chinese central bank is
9:50
no longer buying gold. Well, guess what?
9:52
These numbers coming out of China about gold sales, I mean,
9:57
their head spinning. They're absolutely insane.
10:01
Like I think I heard today like the the Chinese people bought.
10:05
Don't quote me on this, but I'm pretty sure I'm right. 68% more
10:09
gold like last month than they bought in the year, the year
10:14
previous. So I mean, guys, it that we
10:16
don't that maybe the, you know, the PBOC, the people, the
10:20
Chinese central bank isn't buying gold because the Chinese
10:23
people are behind it all. I don't know.
10:25
I'm gonna have a sip of coffee. Don't leave basement dweller.
10:33
It's it's just absolutely crazy. And now this week we got the big
10:36
now everything's gonna be about rate cuts, rate cuts and that
10:40
you know, it should be good for the price of gold and silver.
10:43
Absolutely right. The everything's gonna be micro
10:46
focused on the Fed. And when's the Fed gonna cut
10:49
rates? Because now they're everybody
10:51
saying, oh, the employment job, the numbers are down.
10:53
Like I said, we're gonna get we're gonna get low inflation
10:56
data on Thursday. So be prepared.
10:59
Let's go make sure I didn't miss anything on this up to
11:02
up-to-the-minute article corporate side.
11:04
On Friday, we're going to get the big banks.
11:06
That'll be. That'll be Friday.
11:07
So Tuesday and Wednesday, this guy.
11:11
OK, here we go. Let's get him out.
11:13
Hey, it's Sunday night. Damn.
11:15
Yeah, we got to say hi to. It's got to get him woken up for
11:17
the week. Where'd he go?
11:19
Oh, no, hold on a second. There he is.
11:25
Tuesday. You want me to open it?
11:29
OK, Tuesday and Wednesday we're going to have him talking.
11:34
OK, that's big. That's big, big news.
11:36
That'll be big. That'll be market moving type
11:39
stuff depending on what he says. Thursday we got the CPI numbers
11:43
and then Friday every bank in the planet is going to announce
11:46
their earnings, right? It doesn't matter anyway because
11:49
the banks, I'm going to tell you this, this is a fact, OK?
11:53
I have a degree in accounting. I did briefly work for one of
11:56
the big four accounting firms. I did leave on my own accord, I
11:59
will tell you, but I understand accounting.
12:02
I understand finance. The banks in this country,
12:05
they're in La La land they're in.
12:08
I will never forget it. I did not make this up and I
12:11
don't know who did and I never, but I never hear anybody else
12:13
say it. But they, they use Disneyland
12:16
accounting. The banks, they're in
12:19
Disneyland, right? They're like, like Tinkerbell is
12:22
doing the accounting work for them.
12:24
Oh, if you want to value the bonds on your books at this
12:27
amount, that's OK. We'll just value them wherever
12:30
you want. So anyway, eventually.
12:32
But here's the thing, guys, and this is this is so critical as
12:37
the, and we got to talk about the White Swan.
12:39
My gosh, so much to talk about. OK, But OK, we're going to talk
12:44
about the White Swan in a little bit.
12:46
But these banks, it's it's, it's just absolutely everything is
12:51
fake, right? It's all fake, right?
12:54
They all got a bunch of commercial real estate that they
12:56
loan money on that's worth $0.60 on the dollar.
12:59
OK, That was the collateral. Is that office bill?
13:02
I mean, there's one of them here in Saint Louis, the AT&T Center
13:05
downtown. I think it's sold for like, I
13:08
mean it's sold for like 5% of what some it, it, it, it went
13:13
down in value by like 96% over like a five year period.
13:17
I mean, that's the collateral for a loan that nobody pays cash
13:22
for these commercial real estate buildings.
13:23
They all finance them, right? And it I mean it, it's crazy.
13:27
So on Friday, we're going to hear it might, might, might as
13:31
well been, might as well be Walt Disney earnings coming out
13:34
because that's what it's going to feel like.
13:35
The banks are going to tell us what's going on there as well.
13:38
I forget where I was, where I was going with all that, but OK,
13:42
it's all BS. I'm going to tell you one more
13:45
time, right? Because whether all this Fed
13:48
talk this week, rate cut, Schmidt cut, whatever, it is all
13:52
fake, OK? It's all fake because you know,
13:55
why think about it. It's all based on this.
13:58
You're right. And and I don't care.
14:00
I mean, we got I have quotes, I can pull them up and I'm not
14:03
going to, but we got quotes from Alan Greenspan and you know,
14:07
people when they were when they were telling the truth before
14:10
they worked for the Fed where they where they were like gold
14:12
is like the only form of real money.
14:14
This is all fake. It's all think about think about
14:17
how it it's it's like double fake guys, right.
14:21
This is true of the general stock market, but like the
14:23
banks, it's all fake. Make believe accounting and then
14:27
to make matters worse, to add insult to injury or injury to
14:30
insult or whatever that saying is, it's all based on this.
14:33
It's it's all based off this. I don't know, does that make
14:36
sense? I'm not I'm not 100% on that.
14:39
So help me out here. But you know what I'm saying?
14:42
Like, let's say you got a bank a banking a bank stock, right?
14:47
It's all based on Unicorn make believe Disneyland accounting.
14:51
OK, so it's not even real. It's not even it's it's it's
14:54
bizarre. And even these tech companies,
14:56
same thing, right? It's all based on like nothing
15:01
real, just hope and and projected growth over the next
15:05
50 years, blah. But whatever, right?
15:08
It's not based off anything. It's nothing.
15:09
It's not real. Those those those these banks
15:12
these got they don't really have any real assets.
15:15
And then on top of it, on top of it, it's measured in this.
15:19
Does that make sense? It's measured.
15:21
The unit of measure is, is nothing is Unicorn fart dust and
15:26
we're going to have a white swan.
15:27
You want to hear about the white swan?
15:29
You know, the Black Swan is a Black Swan is an event that
15:32
happens that in hindsight, people say, oh, we should have
15:35
seen it coming. We should have seen it coming.
15:38
Well, now I'm hearing from from some of my top contacts, some of
15:44
the smartest guys in the room. There's a new term going around.
15:48
You ready for the new term? White swan.
15:50
White like my shirt. OK, White swan.
15:54
And what's a white swan? A white swan's like a, a big
15:57
catastrophic event that's coming that we know is coming.
16:03
And they're all referring to the same thing.
16:05
And that is a a, a, a sovereign debt crisis in the United
16:11
States. That it's coming, right?
16:14
It's just a matter of time. Tomorrow in the live stream, I'm
16:17
going to talk about what the Bank for International
16:19
Settlement said, right? I mean, everybody, everybody
16:23
sees that this is coming, that the situation that we're in
16:26
right now is untenable, OK? It's just absolutely untenable.
16:32
And you got to remember this. I'm sorry I have to share this
16:36
with you. It's scary, OK?
16:37
This is very, very scary. I was thinking about the
16:40
sandwich because you hear people, you hear all the, the,
16:43
the guy, everybody says you don't want to be around when
16:46
silver's $500.00 an ounce. You don't want to be around when
16:49
gold's 25,000 an ounce, whatever, 'cause it's going to
16:52
be crazy, right? Zombie apocalypse type stuff.
16:55
So, you know, we don't, we don't like this, but it's, these are
16:59
the best of times. Listen to listen to what Janet
17:02
Yellen says, listen to what Joe Biden says, listen to what our
17:05
politicians say. And that really irks me.
17:09
You know that the people in this country, I'm going to go quickly
17:14
on a little soapbox here, right? That they're so obedient and
17:18
believe what the government think about this.
17:21
This is what make this is what sets you apart.
17:23
You are you are a little bit different.
17:25
You are a little smarter than the average bear like this one
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Fortuna mining.com. But you're a little smarter than
17:50
the average bear. You dig a little deeper, right?
17:53
I mean, this are these really, these are the best of times in
17:58
this country. OK, OK, They're the best of
18:01
times. And at the same time, we've got
18:04
deficits. I mean, it's like unbelievable
18:07
the amount of money that our government is spending above and
18:10
beyond what they're bringing in. And, and we have this debt
18:13
crisis, this debt. I said crisis.
18:16
I, you know, I can pull up the US debt clock, right?
18:19
We're almost to $35 trillion in debt.
18:22
Everything's growing exponentially.
18:24
That's the white swan there. People are.
18:26
That's the new term. So you, you know, you're not
18:29
hearing it first. And I didn't invent it, but this
18:32
white swan situation, it's just now people are just ticking.
18:36
It's just a matter of time until this happens, right?
18:41
And it's well, no, what I was going to say is here, I forgot,
18:45
forgot to finish my, my thought regarding my soapbox.
18:50
Americans, you're smarter, right?
18:52
You, this is not about you. But think about 99% of people,
18:56
99% of the people in this country will do whatever their
18:59
television tells them. If my television says this, this
19:04
has to be true. I watch the children's News
19:07
network. I'm not busting on you if you
19:09
watch. I watch some CNN too.
19:10
But anyway, I watch it critically, OK?
19:14
And I know you do too. But 99% of our fellow Americans
19:17
will just believe whatever. And if the government says,
19:21
think about this, think about this, OK, back up, right?
19:25
Because people will believe whatever the government tells
19:28
them. If they tell them we're going to
19:29
go off and get this war because it's we're going to, we're going
19:33
to put American troops in danger because there's a bad dictator
19:37
we need to take care of. But then, you know, the reality
19:40
might be that, well, there's some natural resources there
19:42
that we want, or some anyway, you know what I'm saying, right?
19:47
People will just believe whatever the government tells
19:51
them. But this is the crazy part.
19:54
It's like wake up people. Because if you ask those same
19:58
people, do you approve of your politicians or what do you think
20:02
of your politicians? They'll say, oh, they're dirty
20:04
scumball scoundrels, right? They're they're cheaters.
20:09
They're they're bought and sold by big corporate interest and
20:13
they're wealthy and they're controlled.
20:15
They'll, they'll go on these tirades about their politicians,
20:18
right? Like Congress and Senate have
20:20
like the lowest. Approval ratings of all time,
20:24
right? So they'll go on this diatribe
20:26
about how they don't approve of their of their politicians,
20:31
right? And these are this, by the way,
20:32
the same politicians that have put you and your children and
20:35
your grandchildren in debt indefinitely.
20:39
This is big guys. Good.
20:40
Think about this, all right, So people will tell you how, how
20:44
how they cannot stand the politicians and how they're so
20:48
dirty and bad, but then whatever the government says, they're
20:52
like, oh, well, the government said that I should do this, so
20:55
I'm going to, I believe, you know, blah, blah, blah.
20:57
I mean, why would you believe what the government says on one
21:00
hand when on the other hand you're telling me that the
21:02
people that run the government are scoundrels and scumbags?
21:06
Does that make sense? I'm not saying that.
21:08
I'm just saying that's the general consensus in this
21:11
country and not all the politicians.
21:15
And I'm not saying it. I, I didn't say it right.
21:18
But you know, your, your average American will say how they, they
21:22
just cannot stand their politicians and how their dirt
21:25
balls. But then whatever the government
21:28
that's run by those dirt balls says, they just believe it and
21:32
go with the flow. So anyway, that's, that's what I
21:35
got. Be ready, guys.
21:36
Be ready for the White Swan. I should be back on tomorrow
21:40
morning. I just had a little a little
21:43
extra time. I wanted to say hello to
21:44
everyone. Thank you for being here.
21:46
Thank you to the sponsors. I see you, Annie Oakley.
21:49
Thank you Jake from Jake's Custom Parts, the Silvershire
21:54
big Tim is here often as well. I saw one of the guys in the
21:58
comments earlier. Yeah, I saw your comment, Mr.
22:01
Comment. He said that silver's going to
22:04
$5.00 an ounce. I'm sorry, I have to laugh at
22:10
that, but I'm, I'm just going to warn you guys.
22:13
I mean, let me ask you a question.
22:15
Would you be buying silver if it goes to $5.00 an ounce?
22:18
I think there is no chance that silver's going to $5.00 an
22:23
ounce. I think there's a really a
22:25
better chance that silver. I would almost bet my life that
22:30
silver is going to go to $500.00 an ounce way before it's ever
22:33
going to go to $5.00 an ounce. But I'm just going to warn you
22:35
guys, if it ever does go to five, I'm selling everything and
22:39
buying silver. I will be down here without
22:41
clothes on doing the live streams.
22:43
I'll keep the computer because that will be a crazy, crazy day.
22:47
All right guys, thanks for being here and have a great night.
22:51
I'll see you soon. Bye bye.