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⚡$8000 GOLD!⚡- You Best PAY ATTENTION to This! 🟢 (Silver Price News Update) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

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$8000 gold, $1000 to silver ratio.
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We're going to cover that in this video today 'cause there is
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so much going on that we need to talk about that will impact the
0:12
price of your silver, your gold, your precious metal mining
0:18
stocks. Thank you for being here this
0:20
morning. Thanks for being part of the
0:21
basement. Let's dig into some breaking big
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news stories regarding the silver and gold price.
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But first, let's talk about this eight $1000 gold.
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This comes from an article on Kitco, so it has to be legit,
0:35
correct? Brian London.
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Now, Brian London is the guy that runs a big gold and silver
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investor conference, and he came out and said that the gold price
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has room to hit $8000 in this very bull cycle.
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Yes, guys, we're in a bull cycle for gold and silver.
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I know, I understand, right? We hit a little bit of a Trump
1:00
slump, hopefully not a Trump dump, right?
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And that's not a political statement.
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But we need to accept and realize that we're still in a
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major bowl cycle. Now, if we get gold down to
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1800, which I don't know how you feel about that, do you think,
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do you really think that we're going to get $1800 gold again?
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Do you think that we're really going to get silver down to
1:25
$22.00 again, even 20, $6? I need to share with you a big
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update on my end. I'll tell you right now that if
1:35
by chance, OK, I don't need to buy any more silver.
1:39
But if we do get a silver price that touches anything in the
1:43
$27.00 range, I'm a big, big buyer.
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I think that we're not going to get there.
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I don't know how you feel about it.
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I know how Brian London feels about the gold price.
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We are still in a bowl cycle. So set aside right the pain that
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we've all experienced now for almost 2 weeks and realize that
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we still have a great chance of going up.
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Let's go see what Brian has to say about why he thinks that up.
2:12
There's channel sponsor pin backs will come back to them
2:15
here in a little bit. There we go.
2:17
So he was on Kitco doing an interview with Jeremy Sasfron
2:21
Saffron, great guy, great journalist.
2:24
And here's a couple key things that he said.
2:26
The Federal Reserve's money management will trigger the next
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crisis and force the US central bank to embrace 0 or even
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negative interest rates. That's Brian London, editor of
2:38
the Gold News of of Gold newsletter and CEO of the New
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Orleans Investment Conference. The New Orleans Investment
2:46
Conference is a big, big deal attended by many powerful people
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within the gold and silver community.
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He said, quote, the man, the feds management of the price of
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money is going to create the next crisis.
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And when that happens, they're going to be forced to go back to
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0 interest rates. Now some here's what he said
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right here. Interesting successive rate
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cuts. Let me highlight this.
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What color do you feel like this morning?
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Basement dwellers, I'm feeling who can guess the color?
3:20
We'll go with my favorite color, orange.
3:22
Successive rate cuts are baked into the cake because of the
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tremendous cost of servicing the federal debt at these interest
3:30
rate levels. Remember, guys, he's talking to
3:32
us about $8000 gold. Where would that put silver?
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I think about $85 per oz. Nonetheless, the debt rate
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tsunami on a corporate level, right?
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We're going to see a lot of debt resets coming up in the months
3:49
just ahead. We talked about the government
3:52
debt, but we don't really talk about corporate debt, which
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isn't near all time highs. We don't really talk about even
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personal debt all that much. We focus in so much on this $36
4:02
trillion corporate debt levels are through the roof as well.
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And we have so many companies out there that are zombie
4:08
companies. Do you know what a zombie
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company is? That was a new term that came
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about in the last decade or so that was used to describe a
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company that could only survive in a 0% interest rate
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environment. Now we have the 10 year bond at
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4 1/2 percent. All right.
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He said companies had trouble paying and servicing those debts
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and a zero interest rate environment they will find it
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nearly impossible to service those debts at current interest
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rates. the Fed really has to get rates down.
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The longer it waits, the more urgent it will have to do so at
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some point, OK, the US economy might even need negative
4:47
interest rates to deal with the next crisis by longer term
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picture reviews that we have to have negative real rates with
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debt loads so high. London forecast, Here we go.
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London forecast gold hitting the range of 6 to 8000 within this
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bull market cycle, basing his calculations on previous
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historical trading patterns. So what he's saying here and
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what is so critical for us to understand is gold and silver
5:19
investors. the Fed needs negative real interest rates.
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the Fed needs the inflation rate to be higher than the prevailing
5:27
interest rates. Right now.
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We're in big trouble guys. The 10 year bond rate, right,
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which has gone up by over 3/4 of a percent since the Fed cut
5:38
rates, right? The interest rates are going up,
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sure, the Fed cuts rates right there monetary policy, but the
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free market, the trades remember the bond market is way bigger
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multiple, I think 3 times bigger than the stock market in the
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free market for U.S. Treasury bonds has pushed the
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rate on the 10 year bond the what 4.5% here we'll go take a
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quick look. Hold on here.
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There's the silver price. We'll come back to that later.
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Let's go look at the 10 year bond yield and remember the only
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way that this system works is if we have inflation higher than
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the prevailing there we go 4.42%.
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I mean, it's unbelievable what has happened in the 10 year bond
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yield. This this market is way bigger
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than the stock market. Nobody talks about that here.
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Look over the last six months, right, we were down here 3.6%.
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Darn it, here we go 3.62% and now we're at 4.42%.
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That's .880 basis points if you want to say it. the Fed must
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have inflation higher than that rate. the Fed needs inflation.
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There is nothing in the world. We're going to talk about $1000
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silver next. Don't you worry.
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That is more bullish to this stuff, right?
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Isn't it beautiful? Go ahead and grab a piece for
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yourself right then higher interest rates period kaput into
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I'm sorry, inflation rates period kaput.
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End of story. Get it through your thick skull.
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I'm not saying that to you. That's what my mom used to say
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to me. Hi mom and she's watching.
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She would say get it through your thick skull.
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And I know I need to get it through this thick skull, right?
7:29
I'm a hard headed Dutchman, I admit it.
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Inflation, inflation, inflation over any long period of time,
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over any medium period of time is the biggest driver.
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Inflation is the same exact thing as the value of this
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stuff, right? Paper, paper money going down
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and the value of this is going down because don't forget guys,
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right? You got this over here, which is
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solid, right? Finite, limited, and you got
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this over here, which is unlimited, and you got all these
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little, all these little, oh, the dollar, the euro, the yen,
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the Swiss franc, blah, blah, blah.
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They can print those into Infinity.
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This stays the same. That's when they print these to
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Infinity, OK? That's called inflation.
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And that's the only thing they're going to be able to do,
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period. I know I'm repeating, I
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apologize, but it's so critical for us to remember as we go
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through these day-to-day fluctuations, as we go through
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these little periods like we've gone through.
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Has it been fun? No, right.
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I would be sitting here saying, Oh my gosh, I can't do it
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anymore. You know, silver went from $35
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all the way down to $30. Oh no, Boo Hoo.
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You know, I know it's no fun, but we've got to remember the
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fundamentals. And don't forget, I got to show
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this one more time because this is awesome.
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This is awesome. I'm sorry, it's been a while
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since I featured this. We talked about it last night,
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but we're going to talk about it again right now.
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This is a silver certificate. This is not AUS dollar.
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This is what dollars used to be. See what that says down there?
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OK, $1.00 in silver, payable to the bearer on demand.
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That's right underneath George Washington.
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OK. And if you look here, that's
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from 1935. It used to be.
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It used to be if they wanted to print these, any of these, they
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needed, sorry, they needed to have this to back it up.
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If they wanted to make one of these, they needed this to back
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it up period. Now this is not the same thing.
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This is not a silver see it says Federal Reserve note at the top.
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Now if they want to print a bunch of these, what if they
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want to print 1000 of these right now, all they need is one
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of these and we're going to talk about that right now.
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Let's go take a look cuz we had major breaking news, something
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that you and I have been following very closely.
10:04
The dollar to silver ratio as we announced last night broke
10:08
through $1000. Let's go get an update.
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Let's go get an update from the US debt.
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The wrong screen. Hold on here.
10:17
Hopefully we're still alive and you guys can hear me.
10:20
Hello. Hello.
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OK, here we are at the US debt clock.
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Hold on. Somebody's urgently texting me.
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I think we're having some problems here.
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Hold on. OK, we're good.
10:34
Let's go take a look at the dollar to silver ratio.
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You can barely read it here. We're going to zoom in for a
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second. Actually, I, I I cheated on you.
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I apologize. I went out here and looked
10:47
before we came live. Let's zoom in here and take a
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look guys, because it was 1001, but here at they need to update
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their web page to make the space a little bigger.
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We are now at 1002 dollars being created via the M2 money supply
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printed paper dollars for each one ounce of silver that's being
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created in the world right now. This does not directly mean that
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the price of silver should be $1000, but I want you to think
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about something very important and that is that that means that
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for each one ounce, this is an American Silver Eagle of these
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that's being created this year. Right now in the world.
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Each one of these, there's a thousand of these Federal
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Reserve notes being printed. What does that tell us?
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I mean, come on, right? Sure, maybe the silver price
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should be $3000, but at minimum at 1000 paper dollars being
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created for each one ounce of silver.
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And we talked about this last night, but this is fascinating
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because let this sink in. Let this sink in, OK?
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All that, all that, all those dollars versus that one ounce of
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silver, Most of the silver that's being created right now,
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this year, I think it's 700 million ounces are going to be
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used by industry. There's only 800 million that
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are being created. Most of that silver is going
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bye, bye, bye. Now I want to look at something
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else. I thought of this this morning.
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It was super interesting in regards to the let me get back
12:28
to normal scale, OK. I was looking at this number
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over here. This was the other.
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We had a big week on the US debt clock $36 trillion and I was
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thinking we're going to go on The Time Machine here.
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If we, if you had told any analyst in the silver and gold
12:46
market, any analyst, right, 20 years ago that in 2024 we would
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have $36 trillion in national debt and ask them what they
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thought the silver and gold price would be.
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I guarantee you for silver they would be like probably 203
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hundred $400.00, no doubt about it.
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OK, so let's go take a look. I just, I want to go on a little
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little one more little field trip here on the debt clock with
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you. Let's go in The Time Machine.
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We'll go back. Let's go back to, let's say 2420
13:21
years ago. Look at this.
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Our national debt was $8 trillion and we thought that was
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a big problem. OK, That was, let's see here
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what we say, 2004. Let's go take a look if we can
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pull this up at what the silver price was in 2004, just out of
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here. Here we go now, Max.
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Hold on here. There we go.
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We're at Max and we are at Wow, it goes way back here We are
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need to go back this way a little bit.
13:56
Well, shoot, see if I can make that smaller.
14:00
OK, this is going to drive me crazy.
14:05
Let's do try this again, Max OK, and see if we can go.
14:13
It's as small as it'll go. It won't let us go back to 2004,
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but we had like a 5-6 dollar here.
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We'll go to Google quickly. Thanks for dealing with me.
14:23
We'll say silver price in 2004, $6.66.
14:32
Whoa, isn't that the number of the you know what?
14:34
Nonetheless, if we had looked at this right, it's $6.66 and said
14:40
now guys, the US debt is going to go up by 4 1/2 times in the
14:47
next 20 years, we wouldn't have believed it, OK?
14:50
We would not have believed it and they would have said that we
14:53
would have a easily have a silver price significantly
14:58
higher than where we're sitting today.
15:00
Let's go forward. Just out of curiosity, here we
15:02
go, the budget showdown. All right, so let's see what
15:05
they're predicting for 2020. Eight, $50 trillion.
15:11
Wow, that is crazy, $50 trillion and a budget deficit of $4
15:19
trillion. That per US taxpayer at that
15:22
point, $360 trillion. So guys, that's what we're in
15:26
for. We're living in a fantasy land.
15:29
The price of gold and silver, absolutely.
15:33
We'll do a full accounting for the printing of these.
15:37
OK, the printing of Federal Reserve notes.
15:39
At the end of the day, you can't fool mathematics for too, too
15:43
long. There's absolutely no doubt
15:46
about it. Back to the $8000 gold.
15:48
I want to bring up a very important point for us to
15:50
remember as silver and gold investors like Mr. London said,
15:55
he's predicting 8000 during this bowl cycle.
15:58
Part of bowl cycles are draw downs and pull backs.
16:02
We looked at charts. You can look at a chart, for
16:04
instance, from 2009 to 2011 when gold and silver both had
16:09
magnificent returns. OK, from 2001 through 2011.
16:14
Silver, for instance, went from being under $5 per oz, under $5
16:21
per oz in 2001 to over $50 per oz in 2011.
16:29
Think about that. That's a 10 times return for
16:32
silver. But what's critical for us to
16:35
understand and the reason why what we're going through right
16:39
now, it's painful. I know, I know, we all want to
16:42
give up. I understand.
16:43
I'm with you. I feel your pain.
16:45
But it's also part, it's normal and part of the process because
16:49
during that period from O1 to 2011 when silver went from under
16:53
$5 to over $50, silver for instance, had numerous times
16:57
where the price came down 15, sixteen, 18% during that 10 year
17:02
period. I remember talking with Keith
17:05
Neumeyer a few months back and he talked about that epic run
17:09
that we had in silver during that time period.
17:12
And he was like, Oh, yeah, it would take off and then it would
17:16
start to pull back and we would think, oh, it's over.
17:18
It's done the bull rock markets over, which is exactly where we
17:22
are right now. OK.
17:24
And then it would shoot higher again.
17:26
Guys, that's the environment we're going into.
17:28
And I want to show you visually why we can know that's the case.
17:33
First, let's go do an update on the silver and gold price at
17:36
channel sponsor Pendeks. It is Sunday and the price
17:40
better not have changed. Nope.
17:42
OK, right. Still gold, $2568 per oz.
17:46
Silver, $30.32 per oz. This week is going to be
17:50
critical. We're going to be keeping a
17:52
close eye on this psychological $30 per oz spot silver number.
17:58
But if you want to get your hands, what, what can Pembex do
18:00
for you? It's easy, OK?
18:03
It's real easy. They can get you silver, gold,
18:06
platinum group metals delivered to your doors.
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It'll be wrapped up like Fort Knox.
18:10
Now, what's important to remember when you get that
18:14
package from Pinbacks is it'll be a little heavier than had you
18:18
spent the same amount of Fiat paper money.
18:21
It most of any of all the other big online bullion dealers,
18:25
because Penbacks has ultra competitive pricing.
18:29
They'll get you more metal for your money.
18:32
They've got a great selection. They checked that box as well.
18:35
And in my book, obviously, what's critically important, is
18:39
there a company that you can trust?
18:41
OK, I've got an overwhelming response from you, the basement
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dweller community in regards to Penbacks.
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Penbacks, thank you for sponsoring Ron's Basement.
18:50
Here's why we're still in a bull market.
18:52
This is the fun. We're going to look at this one
18:54
more time, guys. This, this will send shivers
18:58
down your spine. You'll be rattled, you'll be
19:00
startled. But this is a 40, what, 198540
19:05
year chart of the US dollar index.
19:08
And there is, we're going to do it for those of you who are
19:12
regulars because this is like, like, well, it's not as
19:15
important as praying everyday, but it's like praying everyday,
19:18
which is very important. But we need to look at this fact
19:22
right here. This is where the dollar is, OK.
19:26
As you can see, over the last 40 years, it only spent a handful,
19:30
maybe a handful, maybe 2 out of 40, which is what, 5% of the
19:36
time higher than where it is now.
19:39
That's not the part that's going to send shivers down your spine.
19:42
This part will because if we go back to 2001, OK, and we go
19:48
through hold on here and we draw a line to 2011.
19:58
That was the period when the gold and silver price just
20:01
exploded as we went into a bear market for the dollar.
20:05
I got news for you, Donald Trump is going to want a bear market
20:09
for the US dollar very similar to what we what we experienced
20:13
from O1 to 2011. He has said right, He's the king
20:18
of debt, OK. He has said he wants a lower
20:21
dollar. That dollar index, the DXY,
20:24
right? It's the it's it's it's.
20:26
A a handful of related but competing currencies, but
20:31
they're all simultaneously debasing themselves at the same
20:36
time, right? Remember, I think I'll do it
20:41
quickly, I promise. But remember, where did my
20:44
American Silver Eagle go? There it is, right?
20:46
You got gold and silver over here, she's upside down.
20:51
Gold and silver over here and a bunch of paper over here.
20:54
Dollar, euro, yen, DXY index, They're all, I'm going to use my
20:59
fingers. They're all printing themselves
21:02
into Infinity. Okay, this barely goes up.
21:05
I think they're saying that this year, 1% more silver will be
21:08
created, most of which will be consumed anyway, right?
21:12
But you can lump gold in there which won't be consumed.
21:15
But over here's all this paper money that's being created into
21:18
Infinity, OK? And they're gonna say, oh, the
21:21
dollar's strong. Oh, well, over here with this,
21:23
the dollar's strong. That's like 4 guys in a jail
21:27
cell who've been convicted of horrendous crimes, felonies,
21:30
whatever. They're all in the jail cell
21:32
together comparing themselves saying, well, I'm not as bad as
21:35
you. No, I'm not as bad as you.
21:37
Right. That's why this is Ken.
21:40
Always has been, always will be. Did I tell you thank you for
21:45
being here? Yes, you.
21:47
I want you to think of your name right now.
21:49
My name is Ron. You got a name too?
21:53
That's why they call this YouTube.
21:54
It's a big deal. You're here if you want to get
21:57
content everyday focused, focused on silver, gold,
22:01
precious metal, mining stocks, but also how screwed up the
22:04
world is. My dad is awesome.
22:08
He's 80, born in 1940s, eighty four years old, very smart guy,
22:13
very funny guy. He always says to me, and I'll
22:15
say this to you right now, I'm starting to think the whole
22:18
world screwed up. Although he doesn't use the word
22:21
screwed up, but he says, I'm starting to think the whole
22:23
world's screwed up except you and me.
22:27
And I'm starting to wonder about you get it?
22:32
The whole world screw. Anyway, if you want that look
22:35
when you're here, you're part of the group.
22:39
You can make friends if you subscribe to the channel, you're
22:41
part of the tribe. So please subscribe.
22:43
Thumbs up would be a much appreciated and super chat.
22:46
Super thanks are always super appreciated.
22:48
I missed the Super chat yesterday from Mr. Richard
22:51
Bolin. Thank you, Richard Bolin,
22:53
hopefully you're here to hear me say thank you.
22:56
I apologize and I get a great PayPal donation last week from
23:00
Antenna HQ. All right, let's talk about
23:03
China. OK, now let's talk about China.
23:06
This we are living if you don't understand this concept and I
23:14
get it I'm an American. All right, look, I'm an
23:16
American. Where is it?
23:18
Right there, self waving American flag another.
23:20
I mean, we love our country, no doubt about it, but we kind of
23:24
live in a bubble, guys. We live in a bubble.
23:27
And this is great news for you as a silver and gold investor
23:31
because outside of our bubble, our America's great, America
23:35
first, America, blah, blah, blah, right?
23:37
And I love America, no doubt about it.
23:39
But outside of our America bubble, there's a whole great
23:43
big world out there. We're only 330 million people.
23:47
China and India have 1.4 billion people each.
23:51
And the rest of the world, you may find this shocking.
23:54
So please be sitting down right? They treat silver and gold way
23:59
differently than we do. Let's look at China and look at
24:02
this. Just unbelievable information we
24:05
have coming from the Silver Academy about China, where the
24:09
silver imports in China have surged to 9000 metric tons per
24:16
year, catching up quickly to India.
24:21
OK, this was a tweet by the oriental ghost in Chinese.
24:26
We can't read Chinese but but this is a translation of this.
24:31
Let's just wait till you listen to this this data.
24:35
China's Jiangjiang Jiang City has the country's largest
24:38
electroplating industrial park, which consumes more than 2000
24:43
tons of silver every year. 2 massive things for us as silver
24:49
investors to consider when we read that.
24:52
Number one, that's a massive amount of silver to begin with
24:56
#2 all that silver is going bye bye, OK?
25:00
It's being used in electroplating barely.
25:02
I think like 5% of silver that's used in industrial applications
25:07
is ever recycled. So it's a ton of silver and it's
25:11
going away. Remember, guys, hold on, we'll
25:14
come back to this, OK? It's even crazier when we
25:17
consider this fact. That's a tons, literally 2000
25:20
tons of silver. That's massive amount being
25:23
used. OK, it's going away, but wait,
25:27
there's more. There's more because we know
25:30
that according to the Silver Institute, we are running like a
25:33
record silver deficit, a record hold on a record silver deficit.
25:48
They're using tons of silver that's going bye bye and it's
25:52
being used and sucked out of the above ground supply, which Peter
25:56
Karrath, the guy that wrote this book right here, right.
26:01
The best selling the silver ball, the great silver ball,
26:05
right the the the guru is telling us that we could be the
26:09
above ground situation could become critical very, very soon.
26:14
OK, so three big things we need to remember is we just talk
26:18
about this amount of silver being sucked in.
26:22
Data comes from Shanghai Futures Exchange Public news The main
26:27
purpose of of Chinese silver importers is to ensure the huge
26:32
industrial silver, which now requires at least 9000 tons per
26:36
year is it and it, and it is still increasing rapidly.
26:41
Therefore, China went directly to Peru to buy all the silver
26:46
ore and shipping it directly to China through the port of Qing
26:51
Kai GPG. President Xi, Xi Jinping, my
26:57
Chinese is not good Shanghai, because silver's always higher
27:01
on the Shanghai Gold Exchange. Anyway.
27:03
President Xi of China personally LED a 400 person business
27:09
delegation to Peru. We're going to talk about that,
27:13
OK, Explosive growth in silver demand.
27:16
OK, Now China's industrial silver demand now surpassing
27:20
9000 tons. The lengths to which China's
27:23
going to secure its silver supply are nothing short of
27:26
extraordinary. OK, what they did, guys, was
27:30
built a massive port in Peru. OK Peru is a major producer of
27:38
silver. All of South America, Bolivia,
27:43
Chile, Argentina. There's silver all over in South
27:48
America. This is the first major port
27:51
that allows all that, all that silver, and a lot of it is hold
27:55
on. Got a little frog in my throat.
28:03
I'll just, I'll just power right through it.
28:05
Anyway. All that silver is being shipped
28:08
over and a lot of it is unrefined ore that the Chinese
28:15
are going to process themselves. They are bypassing the LBMA,
28:19
they're bypassing the COMEX. China is now buying the raw
28:24
silver ore right directly. We knew they were doing it with
28:28
Mexico, also from Peru. So it's unbelievable what's
28:32
going on and, and right, it's not just China.
28:38
What about India, right, India doing the same thing, right,
28:42
importing massive amounts. It's not just the United States.
28:45
We, we are living in this crazy bubble, you know, in the US,
28:51
right. We don't realize that the rest
28:52
of the world is taking over the silver market.
28:56
All right, we're going to go. Let's talk about let's talk
28:59
about the gold standard. Moving back to the gold standard
29:02
because as you know, President Trump was re elected or Donald
29:07
Trump will be again our next president of the United States
29:10
and we're getting talk here this from mish talk on the metals and
29:14
miners sub stack. Trump will have a second chance
29:20
to put a gold advocate on the Fed.
29:23
Go for it. This is Judy Shelton.
29:26
OK, you need to read about her. Judy Shelton clears the Banking
29:29
Committee. This was from 2020.
29:32
He tried to get her on to the Fed back then.
29:34
But because of some, you know, crazy, you know, all the
29:38
political maneuvering, whatever, it didn't quite work out.
29:41
This images from 2020. OK Judy Shelton is a big
29:46
advocate of gold. OK, Let me see here.
29:50
There was a part of here that I wanted to read.
29:55
Here we go. OK, refer to the clip date.
29:59
Misa said gold is back and so is Judy Shelton.
30:03
OK, in a recent piece in the Times of London, sums up the
30:07
moment. Just want to read this little
30:09
bit to you, OK, This could be a person going into the Fed.
30:14
All of which has led to much talk about sound money, crypto
30:17
and even the feasibility of a new gold standard as as is
30:21
attested by the latest title from former Trump administration
30:26
economic advisor and long term long time sound money advocate
30:31
Judy Shelton. Good as Gold.
30:34
How to unleash the power of sound money, currently a best
30:38
seller on Amazon OK, a best selling book OK called Good as
30:44
Gold. How to unleash the Power of
30:45
Sound money by a former Fed appointee or attempted appointee
30:51
by President Donald Trump, who many people are speculating
30:55
could be placed into the Federal Reserve when Donald Trump
30:59
becomes president. OK, as an inadvertent sound
31:03
money champion, Judy Shelton argues that the present moment
31:07
is especially propitious. I don't know what that means,
31:11
especially for the On an international level, the fact
31:14
that gold mine by central banks has reached a near frenzy
31:18
testifies to good prospects for the serious consideration of a
31:23
new proposal. OK and she has one OK A well
31:28
art, well articulated plan to reaffirm gold convertibility for
31:32
the average American for the first time since the days of the
31:36
classic gold standard, albeit beginning exclusively through
31:39
ownership of gold linked U.S. Treasury bonds to Shelton the
31:44
right of dollar to gold convertibility.
31:46
Her end goal for the entire US monetary system is essential.
31:51
It wouldn't just just I wouldn't just signify fiscal and monetary
31:56
rectitude. It quote provides the ultimate
31:59
simple rule for regulating the money supply in accordance with
32:02
individual rights and free market principal.
32:05
One of the books Key arguments OK, she talks about issuing a
32:10
new issuance of Treasury Notes 0 coupon securities dubbed
32:15
Treasury Trust Bonds, offering lower interest rates than
32:19
conventional Treasuries but with the distinguishing feature that
32:23
they can be redeemed at maturity either at their face value in
32:28
dollars or at a pre specified equivalent in gold at the
32:34
buyer's discretion. We're talking about gold backed
32:38
U.S. Treasury bonds is what Judy
32:41
Shelton is proposing. Judy Shelton is a gold bug.
32:45
Judy Shelton believes in the gold standard.
32:48
Judy Shelton is a ally of President Donald Trump.
32:53
President Donald Trump tried to put Judy Shelton into the
32:56
Federal Will Reserve before the end of his last term.
32:59
And because of some, I don't know if it had to do with C19, I
33:02
forget specifically to be honest with you, but it didn't work
33:06
out. OK.
33:08
If it works out this time and we get her in there, maybe she
33:11
could head the Fed. It could be very interesting
33:14
because we've also got a senator.
33:16
Listen to this. This might make you mad.
33:19
Should we be selling? Suppose supposedly the United
33:22
States has 8000 metric tons of gold in Fort Knox.
33:26
We have a senator proposing that we sell some of that gold and
33:31
buy Bitcoin. I don't like, I don't.
33:34
I don't dislike Bitcoin. I don't like it either.
33:38
I don't like the idea that we have AUS senator saying that we
33:42
should consider selling our gold, if it even exists in
33:46
buying Bitcoin. Let's go just read quickly
33:49
what's going on with this. This comes from altcoin buzz.
33:56
Senator Loomis wants the United States to trade the gold for
34:01
Bitcoin. US Senator Cynthia Loomis has a
34:03
bold idea. Sell some of the Federal
34:06
Reserve's gold to buy Bitcoin. Really, Senator Loomis?
34:12
OK And why when they show Bitcoin, do they always have an
34:15
image of a gold coin? Begs my question.
34:19
Loomis calls Bitcoin digital gold and said it says it offers
34:22
security and growth potential that can't be ignored.
34:26
She's a big supporter of crypto. A new idea for the future,
34:29
according to Bloomberg. OK.
34:32
Her new proposal calls for selling part of the country's
34:35
gold reserves and using the money to buy 1,000,000 bitcoins.
34:39
Gold is always been seen as a safe haven for investors, but
34:46
Loomis says Bitcoin is quickly becoming just as important.
34:50
You can't put all your eggs in one basket, Loomis explained,
34:53
emphasizing that diversifying the nation's investments could
34:57
make the US stronger in the long run.
34:59
There she is right there. I don't like your idea, Miss
35:03
Loomis. How do you feel about this idea?
35:05
Do you think that the United States should sell some of our,
35:10
what some people think could be imaginary gold in Fort Knox and
35:14
use that to buy Bitcoin? How do you feel about it?
35:17
OK, OK. According to Loomis, Bitcoin is
35:21
like gold in many ways. It's secure and limited in
35:24
supply, but unlike gold, it's digital and much easier to trade
35:28
or store. Over the years, Bitcoin has
35:30
gained a reputation as a powerful, powerful asset that
35:33
grows in value and attracts more investors.
35:36
Well, I don't agree with that. Do you agree with that?
35:40
Would you? How would you feel if the US
35:42
government under Donald Trump announced that they were going
35:45
to sell part of our gold? That's your gold and my gold.
35:50
If you're an American citizen, right, or whatever country
35:53
you're in, if your government were to say that we're going to
35:55
sell part of our gold reserve and we're going to buy Bitcoin
35:59
with it, I don't know. I think that would create quite
36:03
a a stir, to say the least. All right, let's talk about
36:07
India. We talked about China earlier
36:10
with silver. There's some very interesting
36:12
things going on right now with silver and gold in India.
36:17
Want to pull up a slide here, see if I can get this on the
36:21
stage. Yes, we're back to being able to
36:24
use Google Slides. This from Reuters Asia Gold
36:28
India Premiums Asia Gold India premiums reach a four month peak
36:34
as price drop attracts customers.
36:37
What that means guys, is that in India right now, the premiums,
36:42
what people are paying above spot because of the price drops,
36:46
the premiums have gone up. There's only one reason, right?
36:51
There's only one reason, and this is critical for us to know
36:54
and understand, is silver and gold investors why premiums go
36:58
up, and that's because of investor demand in the United
37:02
States. Remember back during the little
37:04
banking crisis we had about 18 months ago when like three of
37:08
the four biggest banks in the history of the universe went
37:11
belly up? And then the Fed came in with
37:13
the BTFP program and save the day premiums on these things.
37:18
American silver Eagles, OK, I know this for a fact.
37:25
Silver was like $25.00 an ounce and people were paying 45 and
37:29
$50.00 for these because demand for silver had skyrocketed.
37:34
So what we're hearing from India, which has 1.4 billion
37:38
people, the fastest growing economy by most measures in the
37:43
world, they're projecting that 100 million people will enter
37:46
the consumer class. And just like the next, I don't
37:48
know, four or five years is that premiums on gold, But they can
37:52
see even crazier. What I'm going to tell you next
37:55
when we talk about silver this guys we we can't we can't just
38:00
live in the United States bubble.
38:02
The silver and gold market is so much bigger, right And when we
38:06
hear that from India, the gold is the demand for gold is
38:09
apparently skyrocketing, but but it gets even crazier when we
38:14
look at silver and they have a a festival it's festival season
38:18
apparently in silver, the hunt terrace, the hunt terrace.
38:21
Sorry to my Indian friends, if I'm if I'm slaughtering that,
38:25
OK, Because it's even more shocking that for the first time
38:28
ever, when it comes to silver, silver demand actually
38:32
outstripped gold demand in India.
38:36
This is huge, huge news. And we have to go all the way to
38:39
India. I dug in and and found an
38:43
Indian, the Indian version of CNBC.
38:47
And wait till you hear what they're saying.
38:51
OK, This is a festival, the hunters.
38:53
This is CNBC India 2024. Gold sales did decline a bit,
39:00
but silver demand rises amid mixed market sentiment.
39:05
Silver and this is a big, big deal this the hot terrace.
39:09
India's gold market saw a little dip in demand, although we just
39:13
heard even more recent news that now because of the gold price
39:16
going down, we've got premium skyrocketing, which only means
39:20
that that demand for gold is coming back But wait a this this
39:24
was the first time ever for silver.
39:25
India's gold market saw a dip, with sales reaching 35 tons,
39:30
down from last year's 42 tons, according to the Indian Bullion
39:34
and Jewelers Association. The IBJA, On the other hand,
39:39
silver, look at this, this is India.
39:43
Silver sales jumped by 30% over last year, over 30%.
39:51
That is huge, OK, because we're going to look at import
39:56
information from India with silver, which is even more
39:59
shocking. The duty, that was because of
40:03
the duty. Dehon Terrace is this festival
40:06
where people typically buy a lot of gold and silver.
40:09
Hold on here. Reduction.
40:10
OK, hold on. There's one more big key
40:12
highlight in here that we needed to read.
40:17
OK Unlike gold, silver has shown remarkable performance as an
40:23
investment and ceremonial purchase.
40:26
The IBJA Express optimism over silver's future, predicting a
40:31
possible price rise of up to 50% next year.
40:36
OK, Doctor Shiram Job Gajio, chairman and manager director of
40:41
PNG Jewelers, Jewelers Jewelers, noted a strong uptick in demand
40:47
for silver jewelry, silver articles and bullion.
40:53
OK, think about this, my fellow, my fellow Americans, right there
40:57
we are. There's our self waving American
40:59
flags. Yes, we have an elephant in the
41:01
room, no doubt about it. But think about this.
41:05
The population of India is India alone is 4 times that of the
41:11
United States and we just put it all together, right?
41:14
Take all the pieces, put it together.
41:16
We just read the demand for silver as an investment as
41:22
jewelry. And this is something critical
41:24
you need to understand about the Indian culture.
41:26
They invest in the precious metals.
41:28
Sure, they buy coins, they buy bars, no doubt about it.
41:32
But a big portion of the investment that an Indian and
41:35
average, if you're an average Indian like me, well, I'm not.
41:38
But let's make believe we're Indians.
41:40
We live in India, OK, And we want to buy silver, gold.
41:43
Guess what, buttercup? We're probably not going to buy
41:46
a bar or a coin. We're going to take our spouse.
41:49
I would take my lovely wife Susie, maybe your name is Sunji
41:54
or something like that to a there's thousands of these
41:58
jewelry stores that sell gold and silver jewelry.
42:01
And this is funny. There's a reason why Susie would
42:04
like that beyond the fact that it would make her even more
42:06
beautiful that silver. Susie, my wife who helps out
42:09
with the channel right. They buy jewelry as an
42:13
investment. They're smart there's only a
42:16
little premium they pay to get as opposed to buying a bar or a
42:20
coin so they but here's here's what's interesting and I have
42:23
this on good word. I've read it and I've talked to
42:26
my Indian friends about this as well.
42:29
One of the reasons why the Indian women besides making them
42:31
more beautiful want to buy and invest into silver and gold
42:35
through jewelry. Another reason why is because if
42:39
their husband leaves them if their husband, I guess in India,
42:41
if you get the divorce, the husband basically gets to keep
42:44
everything except the one thing that the women definitely get to
42:49
keep is their gold and silver jewelry.
42:53
So I hope I never get divorced from Susie.
42:57
Actually, we're coming up on 20 years of marriage here shortly,
43:01
but none the less in India. You know, that's why it's
43:06
important to keep an eye on Indian silver and gold jewelry.
43:10
Wow. Thank you again, guys for being
43:12
here. We're having a great time.
43:13
We got OK. Oh, here, look at this, look at
43:17
this, look at this. Are you ready?
43:20
Just to show you how crazy things are in India.
43:24
This comes from Tavi, Costa India.
43:27
Imports of silver have surged to record love levels.
43:32
This was from September 28th, so it's about 6 weeks old, but look
43:35
at this chart guys. Look at this chart OK, this is
43:39
the trailing 12 month data updated monthly so each of these
43:44
lines. This goes all the way back to
43:45
2020. Two, 22 years is a month, but
43:50
it's not just a month, it's an average of the previous 12
43:55
months. And look, during this last
43:57
month, which is probably September, we were at an all
44:01
time record. Now this is measured in U.S.
44:04
dollars, millions, OK. So this level let's say would be
44:10
$7 billion. And if we think about the entire
44:15
year's production of silver at $30 silver, OK, at $30 silver,
44:22
let's say that the mining sector is producing about 800 million
44:27
oz. That would be two.
44:31
I'm sorry. That would be $24 billion,
44:34
right? Yes, right, 8800 million, Yeah,
44:37
800 * 30 would be $24 billion. That means, as we've talked
44:42
about, India is is importing somewhere between 25 and 3035%
44:49
of the world silver. Where is this all going to come
44:53
from? Is this going to break the comex
44:55
in the LBMA, right? I mean, think about that.
44:58
How, how is how can one country India, right?
45:02
And yeah, they're big and yes, they love precious metals, but
45:05
they're importing 2530 maybe more than that percent of all
45:11
the world's output of silver. And then we know what's going on
45:15
with China. We just talked about that 9000
45:17
tons and a lot of the silver that's going into China, sure,
45:22
some of it's for investment. The Chinese government, think
45:25
about it, what does it mean? The Chinese government is now
45:27
encouraging their citizens to buy silver as an investment, but
45:30
most of that silver that's going into China is going into
45:35
industrial applications, never to be seen again.
45:40
I don't know about you, but when I think about silver, I'm
45:43
starting to get some pretty warm and fuzzy feelings.
45:46
Nothing like the warm and fuzzy feeling when I get when I think
45:48
about you joining me here in the basement.
45:50
It's a big deal. We appreciate you on behalf of
45:53
myself and Susie. Thank you.
45:56
We like to call ourselves basement dwellers.
45:58
Thank you to Jake from Jake's Custom Parts.
46:01
Right. A moderator here on the channel.
46:03
Thank you to the one and only Annie Oakley.
46:06
Huh? Yeah, right.
46:07
She's here almost every day helping moderate the chat.
46:11
Thank you to Big Tim, the Silvershire when he's able to
46:13
show up. And of course, Silver Susie,
46:16
it's about all of us, right? And that includes you.
46:19
So again, I hope you feel like you found a safe harbor, a place
46:23
where we can go talk about, right?
46:24
We got a big common interest, right?
46:26
And we also have our common welfare that we're looking for
46:30
as well. Thanks for being here.
46:32
Have a great day. OK.
46:34
And I will see you soon.