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🚨 Economy TANKING! 🚨 Silver Price and Gold Price Too! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:06
  Hey, guys. Welcome to the live stream.
• 0:08
  We don't have good things to talk about today.
• 0:10
  We've got a big case of doom when it comes to the gold and
• 0:15
  silver price. We're going to talk about what's
• 0:17
  going on today. Should we be concerned?
• 0:20
  We'll dig into that, But also we've got even more doom and
• 0:24
  gloom. Bad news when it comes to the US
• 0:28
  economy. I'm going to share with you why
• 0:30
  I think the next six months could be critical.
• 0:33
  We could see a slowdown in the economy that could translate
• 0:38
  into major changes for the silver and gold markets.
• 0:42
  But what is happening right now? What are we hearing?
• 0:45
  What are we seeing and why could we be heading for major doom and
• 0:50
  gloom in the US economy? Are you prepared?
• 0:55
  Right. I bet you are.
• 0:56
  I know we are. But are our fellow cohorts in
• 1:00
  America prepared? We'll talk about that as well.
• 1:05
  You think the last few years have been tough with inflation.
• 1:09
  Both the economy and inflation are only going to get worse.
• 1:14
  And I think it's going to happen here in the next six months, not
• 1:18
  just the economy going down the tubes.
• 1:21
  I think we're going to go down the tubes.
• 1:22
  I don't want to be the sky is falling Mr. Negative, but man
• 1:27
  the the, the, the statistics, what we're seeing out there show
• 1:31
  us that we could be in for some hard times when at the same time
• 1:35
  inflation is going to go through the roof.
• 1:38
  Are you seeing lower prices anywhere?
• 1:41
  Have you seen prices go back to 2021 levels?
• 1:45
  No, right. We're seeing prices go up and up
• 1:48
  and up and that feeds into why today we're seeing a beat down
• 1:54
  in the silver price and the gold price.
• 1:56
  It's it's ridiculous. But let's let's just examine
• 2:00
  what's causing this downdraft in gold and silver, stocks and
• 2:04
  bonds, stocks and bonds, but also gold and silver.
• 2:09
  As we know, we're slammed after the Q1 employment cost index
• 2:16
  rises more than the highest forecast, the ECI, the
• 2:21
  employment cost index, which is some secondary.
• 2:24
  Yesterday we looked at the economic calendar.
• 2:27
  Nobody cared about the employment cost index, which was
• 2:30
  released this morning, but it came in much higher than
• 2:33
  expected, meaning that employers are having to pay more for their
• 2:38
  employees to have employees on their books.
• 2:40
  And that sent shock waves, right?
• 2:42
  That means that the, the old is, is is ridiculous as it is,
• 2:47
  right? The way that the gold and silver
• 2:49
  market react, even the stock and bond markets, right, that oh,
• 2:53
  that means the Fed is going to have to be even tighter and
• 2:56
  tighter. And we're going to talk about
• 2:57
  the Fed tomorrow as well because this feeds right into it.
• 3:01
  So that, you know, that created the situation where it created,
• 3:05
  let's call it hawkish fear, right.
• 3:07
  The Fed's going to be more hawkish higher for longer.
• 3:12
  That's the new catch phrase, right.
• 3:13
  We're going to, Oh my gosh, the rest of today and tomorrow we're
• 3:16
  going to hear about that. So much higher for longer.
• 3:20
  Well, I got news for you as a little good.
• 3:22
  Side note, Silver and gold investors.
• 3:24
  Yes, today's horrible, today's no fun.
• 3:27
  Do you want me to Boo Hoo. But we still basically have gold
• 3:32
  at a very high price level, you know, fighting for 2300.
• 3:36
  We'll check on it a little bit later and see how it's doing.
• 3:39
  Silver still above $26 per oz. It's doing that in the face of
• 3:45
  all this hawkish rhetoric that we're hearing now from the
• 3:48
  markets. Higher for longer.
• 3:51
  The Fed's going to have to keep rates higher.
• 3:53
  It's all a bunch of noise. It's all a bunch of BS, OK.
• 3:57
  But nonetheless, the ECI index. Let's get into the data quickly.
• 4:01
  Basement dwellers rose from .9% quarter on quarter in Q4 to
• 4:08
  1.2%. Oh my gosh, quarter on quarter
• 4:12
  in Q1, well above the 1%. Is your head spinning yet?
• 4:16
  Mine is quarter on quarter expected.
• 4:19
  That's the biggest quarter on quarter.
• 4:22
  I won't be saying that again for the rest of this live stream
• 4:25
  jump in a year. So it was expected to come in as
• 4:29
  an increase of 1%. It came in at 1.2%.
• 4:33
  OK, right now, guys, this is what you need to understand.
• 4:36
  We are dealing with a very sensitive market.
• 4:40
  If we zoom in on the precious metals, very sensitive right
• 4:44
  now. Look, I'm a sensitive guy.
• 4:46
  You can ask Susie, right? I can get my feelings hurt
• 4:49
  easier than the average bear. I'm not perfect, right?
• 4:52
  You may look at us down here in the basement, basement.
• 4:54
  Dodge. And they go.
• 4:55
  Ron's always happy. Ron's.
• 4:56
  Well, you know, maybe, well, I hear all types of things, but
• 4:59
  I'm sensitive and right now we've got a sensitive, ultra
• 5:03
  sensitive silver marketing gold market.
• 5:07
  Silver and gold can get their feelings hurt very, very easily.
• 5:11
  Be prepared tomorrow as well when the Fed comes out, right,
• 5:15
  the Federal Reserve and Jeremy Powell will be issuing their
• 5:20
  monetary policy decision probably around 2:00 PM Central.
• 5:24
  I'm sorry, 2:00 PM Eastern tomorrow and we could be in for
• 5:28
  some more rocky road type behavior.
• 5:31
  OK, things are very, very sensitive, right?
• 5:35
  The this is, this is right now what we're dealing with this ECI
• 5:40
  number, whatever, right? It's it's fear and paranoia
• 5:44
  surrounding what the Fed says they're going to do.
• 5:46
  What's going to happen tomorrow? They're not gonna raise rates.
• 5:49
  They're not gonna lower rates. They're gonna.
• 5:51
  Right. Right.
• 5:52
  Right. Old Jerome.
• 5:53
  Let me grab him for you real quickly here.
• 5:55
  Old Jerome, right? This guy will be talking
• 5:58
  tomorrow, right? And that's exactly what he'll be
• 6:03
  doing. Think about it.
• 6:04
  He'll be talking, right? the Fed is more engaged in
• 6:08
  perception management right now than they are in real banking
• 6:11
  activities. What the heck happened?
• 6:13
  Remember this, right? Remember this old beauty?
• 6:16
  That's a silver certificate. If you look at the bottom of it,
• 6:20
  underneath $1.00, it says that it can be redeemed in silver
• 6:25
  payable to the bearer on demand, right.
• 6:29
  Those were the good old days, as that was the 180 years when the
• 6:33
  United States was on the gold and silver standard.
• 6:36
  And we enjoyed the the, the the greatest period economic growth
• 6:40
  in the history of the world. Tomorrow, right.
• 6:42
  Tomorrow it's all different. It's Jerome talking, just
• 6:46
  talking. So be prepared.
• 6:48
  OK, Let's talk about the doom and gloom and we are.
• 6:51
  Well, let's we're going to talk about gold and silver as well as
• 6:55
  always. Yeah.
• 6:56
  I have an interesting little point for you about gold and
• 6:59
  silver. I'm hearing from numerous
• 7:01
  sources premiums, right, the amount that you have to pay
• 7:05
  above spot right now for gold and silver have returned to pre
• 7:09
  pandemic lows. What does that mean?
• 7:12
  What does that mean? That means two things.
• 7:15
  That means now might be a good time to buy some gold and
• 7:17
  silver. OK, It's more affordable now
• 7:20
  than a year ago, guys. A year ago.
• 7:23
  Where is it? I've got one down here
• 7:25
  somewhere, This beauty show and tell time.
• 7:31
  This beauty, this American Silver Eagle.
• 7:34
  It had a premium at one point of almost like 100% Premiums are
• 7:39
  down, down, down. What else does that mean though?
• 7:43
  What else does that mean? That means demand in the West,
• 7:46
  in the United States and Europe is down.
• 7:48
  That means when that demand comes back, remember what we
• 7:51
  talked about earlier, right? Silver and gold have been doing
• 7:54
  great in the face of so many difficulties.
• 7:57
  When that investor demand comes back, when we see people, when
• 8:01
  we see premiums going back up, right.
• 8:04
  When we see people, when we see the inventory levels in the in
• 8:08
  the ETFs, the silver and gold ETFs going back up, it's going
• 8:12
  to create a wave of demand that will make a major, major
• 8:17
  difference. OK, did you hear this?
• 8:19
  Let's go to the doom because when the what's going to happen
• 8:23
  when the economy slows down? I don't want to be the sky is
• 8:28
  falling, right? But but what happens if the what
• 8:30
  if we go into a depression? What if we go into a recession,
• 8:35
  right? That'll never happen, right?
• 8:37
  Guys, the Fed is gonna print, print, print.
• 8:40
  That's all they can do. That's the last card they have,
• 8:43
  right? Right now they're talking,
• 8:45
  talking, talking. The next thing they'll have to
• 8:47
  do is print, print, print. And that's if we get a doom
• 8:51
  scenario in the economy. I think right now we're headed
• 8:54
  that way. My gut feel, do you feel it?
• 8:58
  Do you see it? More than ever, More than any
• 9:01
  time in the last couple years, we're seeing tangible evidence
• 9:06
  that the economy is slowing down.
• 9:09
  Let's go to this one first because of this, I believe
• 9:12
  really sums it up. Thank you to our friend
• 9:15
  Silvershire and Jake from Jake's Custom Parts for bringing this
• 9:19
  to my attention yesterday. And what we have is from from X,
• 9:29
  a post from the KOBESI letter. This just in this is crazy. 43%
• 9:36
  of small businesses in the United States were unable to
• 9:40
  fully pay their rent in April, the highest share since March of
• 9:45
  2021. Forty 3% of small businesses
• 9:51
  can't pay their rent, OK? Delinquencies were the largest
• 9:54
  among restaurants, where 52% became delinquent in April.
• 9:59
  More than 50% of small businesses claim that now rents
• 10:03
  are higher than six months ago. Meanwhile, nearly 60% of firms
• 10:09
  founded after the pandemic report that they are earning
• 10:13
  less than a year ago. Rising inflation and shifts in
• 10:17
  consumer spending are crushing small business.
• 10:21
  Small businesses are the backbone of the US economy.
• 10:26
  That says it all, 4350. Sixty percent of small business,
• 10:32
  they can't pay their bills. That means, and if you notice
• 10:37
  this, I I mentioned the other day I was driving home from Six
• 10:40
  Flags with my daughter in Eureka, MO.
• 10:42
  And I'm driving down the strip where there's all these
• 10:45
  restaurants and I'm like, oh, that one closed.
• 10:48
  They even closed a Burger King. I'm not a big fan of Burger
• 10:51
  King, but none the less I was like, I can't believe they
• 10:55
  closed the burger. People don't have money.
• 10:57
  Is it any wonder right now is the economy you're going to tell
• 11:02
  me the economy strong? Who can afford to go out to eat?
• 11:06
  Can you afford to go out to eat? Can you afford to take a family?
• 11:10
  Right. Susie and I, we have our twin 12
• 11:12
  year old daughters and they eat a heck of a lot more than they
• 11:14
  used to. You want to go out to eat?
• 11:16
  You better bring $100 bill with you, right?
• 11:19
  Or three American Silver Eagles. Although most restaurants don't
• 11:22
  take American Silver Eagles. None the less.
• 11:23
  You get my point. Who can go drop, right?
• 11:27
  You people can't afford to put gas in their car, pay their
• 11:31
  homeowners insurance, pay their mortgage, pay their car payment.
• 11:34
  We're going to talk about crazy. Things are getting very, very,
• 11:39
  very dicey out there. And then we get this right.
• 11:44
  Is this a billionaire? Hold on a second.
• 11:47
  This is from the daily hot Hodel U.S.
• 11:49
  National debt surges only. What is that, 273?
• 11:53
  Four billion in two months IS billionaire Leon Cooperman warns
• 11:58
  the nation is heading towards a financial crisis.
• 12:03
  OK. And what he talks about, all
• 12:05
  right. What he talks about is, is the
• 12:09
  fact, OK. According to the hedge fund
• 12:11
  manager, the country missed the opportunity to achieve financial
• 12:15
  sustainability when it largely set aside recommendations of the
• 12:19
  let's do a quick little bit of education.
• 12:21
  All right. This is something you can talk
• 12:23
  about today at the Country Club when you're having lunch with
• 12:26
  your friends. The recommendations of the
• 12:28
  Simpson Bowles report. Do you know what the Simpson
• 12:31
  Bowles report is? Seemed familiar to me, but I
• 12:34
  didn't really know until I read this.
• 12:37
  OK, the report, which was released in December of 2010
• 12:43
  during the Who's Obama? Oh yeah, President Obama
• 12:46
  administration sought to avert or avoid a potential financial
• 12:51
  Cliff, a financial Cliff that doesn't sound good by cutting
• 12:55
  back on key government spending. Wow.
• 12:59
  They were saying this back in 2010 and raising revenue to put
• 13:03
  the, quote, national debt on a stable and downward path.
• 13:07
  Listen to what Cooper Man said to CNBC.
• 13:11
  He said, quote, the debt situation.
• 13:13
  You're right. I'm concerned.
• 13:15
  We have a system of leadership in this country that devolved
• 13:19
  into a leadership crisis. That's basically him saying that
• 13:22
  our politicians stink, right? They're not looking out for you.
• 13:25
  They're not looking out for your children.
• 13:27
  Again, grandchildren on your program.
• 13:30
  A number of months ago you had Mitt Romney and Joe Mont
• 13:33
  Manchin. They basically endorsed the
• 13:35
  Simpson Bowles report, which is about eight or nine years ago.
• 13:38
  The only problem is there's nothing we've done about the
• 13:42
  Simpson Bowles report. And the problem is now this is
• 13:46
  the key guys three times larger. We are in a debt spiral in this
• 13:52
  country. Nobody else is gonna tell you
• 13:54
  that. CNN, the Children's News
• 13:56
  Network. Fox News, Right.
• 13:58
  MSNBC, whatever. MSNBS, whatever it's called.
• 14:02
  I forget. I get the initials mixed up.
• 14:04
  Anyway, nobody's going to tell us that we're in a debt spiral.
• 14:07
  We're in a debt spiral. OK, Here, what does he say?
• 14:12
  He says. Let's, let's just see.
• 14:13
  This is Leon Cooper, man, he says.
• 14:17
  But when you have, when you have no idea when this when the stuff
• 14:21
  hits the fan. If deficits don't matter, if
• 14:24
  some people insist, then I'm going to be too conservative.
• 14:27
  But deficits do matter. I think they will.
• 14:29
  Ultimately. I think we're heading into a
• 14:32
  financial crisis in this country.
• 14:37
  OK, let's also consider, let's also did you know, what do you
• 14:42
  think it means that 2023, 2023, we had more layoffs since than
• 14:52
  any year since 2009 in this country.
• 14:55
  And so far, the pace of layoffs in 2024 is bigger than what we
• 15:00
  had last year. But the economy's great, right?
• 15:03
  It's by dynamics. It's working, right?
• 15:05
  It's we're doing so great. What about the consumer?
• 15:08
  This one really made me mad. Again, doom and gloom when it
• 15:13
  all hits the fan guys, right? The Fed is gonna have no choice.
• 15:20
  No choice but to print more money, liquidate the, liquidate
• 15:24
  the economy, right. That's their only card left at
• 15:27
  this point. And that will lead to a rapid
• 15:31
  period of dollar deflation, and it will lead to real value of
• 15:36
  the silver and gold that you hold going up.
• 15:38
  I don't want to be the doom and gloom guy, but that's all there
• 15:41
  is right now is doom and gloom. I could be wrong.
• 15:44
  Don't make any financial decisions based on anything I'm
• 15:47
  saying. But if you do decide to get your
• 15:48
  hands on some silver, gold, or platinum group metals, don't
• 15:52
  forget to please check out channel sponsor Pendex.
• 15:56
  I'm going to verbally tell you right now, Pi MB, EX.
• 16:01
  Fun to spell, Fun to say you can get silver, gold, platinum.
• 16:05
  But what you can really get there are the best prices, More
• 16:08
  metal for your money. The exact same thing you can get
• 16:12
  at a lot of the other online bullion dealer websites, and
• 16:16
  it's a company that you'll learn you can trust.
• 16:20
  You have to learn that for yourself.
• 16:21
  Do your own digging. I'm not going to tell you what
• 16:23
  to do, but I think if you check out Pimbex, you'll learn what I
• 16:27
  found. Pimbex is best.
• 16:29
  Let's check this out, affluent. This makes me angry.
• 16:34
  Affluent Americans are driving the US economy in likely
• 16:39
  delaying the need for rate cuts. Oh, isn't that great?
• 16:44
  OK, and the story about this lady who retired two years ago
• 16:47
  and she's like, I can't believe how rich I am.
• 16:50
  I inherited all this money from my parents and and now I get to
• 16:54
  go do whatever I want and I fly first class and I have millions
• 16:58
  of dollars and blah blah blah. What does that tell us about the
• 17:03
  health of the economy? What does that tell us right?
• 17:07
  That tells us that the wealthy are doing great where the, the,
• 17:11
  the the the the average people are struggling.
• 17:16
  OK this doesn't last because I want you to think about this and
• 17:20
  and we nobody talks about this. The affluent people they usually
• 17:24
  already have all the money. They're not out working right.
• 17:27
  They they've have all these assets.
• 17:29
  What does it mean that like our economy is being driven by the
• 17:34
  people that aren't actually contributing.
• 17:37
  Think about it, right? And it's not a sustainable
• 17:41
  situation, right? You hear article after article
• 17:44
  about men in America in particular, men about my age,
• 17:48
  for some reason, people in their men in their 40s, fifties saying
• 17:52
  I'm just not going to work. I give up.
• 17:54
  We hear about younger people saying I'm not, we can't.
• 17:57
  I'll never be able to get ahead. I give up.
• 17:59
  This is not a a a sustainable situation and it does not end
• 18:05
  well. I cannot see.
• 18:10
  Let me ask you a question. When you think out six months
• 18:13
  from now and you think about the economy that we're in right now,
• 18:17
  do you see things being more solid, better than where we are
• 18:21
  right now or do you feel like we are heading into a storm?
• 18:25
  Look, I've been down here with you guys for years, right?
• 18:29
  Doing live streams, doing videos.
• 18:31
  Rarely would I ever say that. I really feel like in the next
• 18:35
  six months, the, you know what, the poop's going to hit the fan
• 18:40
  and I can just sense it and feel it.
• 18:43
  People I've talked about, I've told you ad nauseam.
• 18:45
  My buddy that builds in ground pools, big, expensive in ground
• 18:48
  pools, he's like, whoa, things have slowed down.
• 18:51
  Other people I know in the home improvement business, he's like,
• 18:55
  whoa, things have slowed down. People don't have money.
• 18:59
  And they even went on to say the people that do have money don't
• 19:03
  want to spend it right now, but people are running out of money.
• 19:07
  OK, what did Peter Schiff say? Our old friend Peter Schiff,
• 19:11
  Let's go over to hear what Peter Schiff had to say.
• 19:14
  And then we're going to talk about an update from coin shop.
• 19:16
  Chris. Right.
• 19:18
  An actual update from the streets, from a coin shop.
• 19:22
  And it's also quite shocking. But our friend Peter Schiff had
• 19:26
  this to say, quote, why are people spending more?
• 19:32
  He asked with a question mark. Think about, oh, the consumer.
• 19:35
  Strong consumer spending, retail sales.
• 19:37
  The economy is great. No, it's not.
• 19:39
  We're heading towards a Cliff, OK?
• 19:41
  Why are people spending more? Well, because things cost more.
• 19:46
  Think. I mean, it's true.
• 19:49
  That's why they're spending more.
• 19:51
  They're not buying more. They just are.
• 19:54
  They're buying fewer volume, fewer number of numbers of
• 19:58
  goods, but everything just cost twice as much, right?
• 20:02
  And even though these numbers are supposed to be adjusted for
• 20:06
  inflation, this is critical for us to understand.
• 20:09
  The numbers are supposed to be adjusted for inflation.
• 20:12
  They're really not. Because, you know, the
• 20:15
  government numbers don't accurately capture how much
• 20:19
  inflation there actually is. So yeah, the government says, Oh
• 20:24
  yeah, retail sales were up and these numbers, everything's
• 20:27
  great. Everybody be happy.
• 20:28
  The reality is people are buying fewer numbers of products
• 20:33
  because everything has doubled in price and people can't even
• 20:36
  afford any more with what's going on right now.
• 20:39
  Let's look at the car market because everybody needs a car.
• 20:42
  Well, not everybody. I actually know a great guy down
• 20:45
  the brain. He's, that's why he's down the
• 20:47
  brain. He's driving an electric bike,
• 20:50
  but none the less, let's talk about the car market.
• 20:53
  Is there doom in the car market? Yes.
• 20:57
  I'm seeing reports like car dealerships, Ford dealerships,
• 21:01
  Ford F-150, right? The most popular truck, car,
• 21:05
  whatever in America. They're piling up at the Ford
• 21:08
  dealerships when I drive by. Are you noticing this?
• 21:11
  The cars are piling up. Think about it.
• 21:15
  Who can afford, let's say, an $80,000 pickup truck?
• 21:20
  I can't even fathom spending $80,000.
• 21:23
  Maybe I was going to live in it, or it was made out of silver or
• 21:27
  gold. For that number, not painted
• 21:29
  real silver will go $80,000 pickup truck.
• 21:33
  And you're going to pay 8% interest on it, right?
• 21:36
  9%, Let's say 9% cause a lot of these loans, right?
• 21:40
  Unless you have perfect credit, you're going to pay.
• 21:44
  Thank you Ron McAdams for Super Chat.
• 21:46
  Thank you Big Tim Silvershire for that text.
• 21:49
  I'm going to pull it up here in a minute, but I want you to do
• 21:51
  think about this $80,000 pick em up truck at 9% interest.
• 21:59
  That's for the first year. You're going to pay over $7000
• 22:03
  in interest. You're going to pay $600 a month
• 22:07
  just in interest. You're probably going to get an
• 22:09
  8 year loan or whatever they do now, $600 a month interest alone
• 22:15
  to drive a pickup truck that after you buy it, is going to
• 22:18
  lose a third of its value when you drive it off the lot.
• 22:22
  The the the the what about the UAW workers at the Ford F-150
• 22:26
  plants? What about when they get laid
• 22:28
  off? When they lose their jobs?
• 22:30
  What about the guys that I'm hearing?
• 22:31
  Car dealerships shuttering their doors?
• 22:34
  OK, I mean, it's unbelievable. close to my house is a shuttered
• 22:43
  mall, which again, is a bad sign.
• 22:45
  But it's been shuttered for two or three years, right?
• 22:47
  People can go in there and walk around.
• 22:49
  But this is interesting and somewhat ironic because I've
• 22:53
  shared with you, I live in a middle, upper middle class part
• 22:56
  of Saint Louis, right? This mall shut down.
• 23:00
  We also have a Tesla dealership down the road, right?
• 23:05
  And they their parking lot's full of Teslas.
• 23:07
  You want a Tesla? Come to Saint Louis.
• 23:09
  There's plenty of them available, but you go about a
• 23:13
  mile away. Thank you, Ancient Tom, for that
• 23:15
  super chat. Wow.
• 23:16
  Thank you. I'm going to pull you up and
• 23:18
  then I'm going to pull up the other one.
• 23:20
  But what's interesting is then you go to the mall, the
• 23:23
  shuttered mall, and it's ironic. It's in the Sears parking lot.
• 23:27
  The Sears is closed, right? It's been closed for years.
• 23:31
  It is full. It's like an overflow lot of
• 23:34
  Teslas like you wouldn't believe.
• 23:36
  It's like Tesla land. It's crazy.
• 23:39
  And the other day I'm like, I'd really like to see one of those
• 23:41
  cyber trucks. I can't wait till I see a cyber
• 23:43
  truck on the road while I'm driving by the wall and I look
• 23:45
  over and there's like rows and rows of cyber trucks.
• 23:49
  Guys. The days of people being able to
• 23:52
  afford 80,090 thousand $50,000 vehicles are ending soon.
• 23:58
  Who can afford that at this point?
• 24:00
  What about Coin Shop Chris, What's he selling?
• 24:02
  Me, Right. I talked with him last night,
• 24:04
  right? Coin Shop Chris, the man on the
• 24:06
  street dealing with the public. People are selling.
• 24:11
  OK? They are.
• 24:12
  That's unfortunate. And especially silver.
• 24:15
  And he says he's great reminder, right?
• 24:18
  Like, don't buy. Buy silver if you think you're
• 24:20
  going to hold on to it for a long time.
• 24:23
  What really breaks his heart, and mine too, is to see people
• 24:26
  that buy silver thinking it's a get rich quick scheme, OK?
• 24:30
  And thinking, oh, I'm going to be able to sell it in four
• 24:32
  months or or a year or whatever. Number one, either they get
• 24:37
  frustrated and they sell too soon and you're going to get
• 24:40
  killed on the Commission or the spread right on the premiums
• 24:43
  between the buy and the sell, OK?
• 24:46
  Or they get into a situation where they bought silver with
• 24:49
  money that they're going to need, right, To pay bills for
• 24:52
  hardships, whatever. So then again, they have to come
• 24:54
  in and sell. So people are selling their
• 24:57
  silver. But the big key he said what
• 24:59
  he's seen is a lot of these people, it's job loss, yes, job
• 25:03
  loss, people losing their jobs, right.
• 25:06
  And let's go back, let's see what Peter Schiff cause again.
• 25:09
  He had something that I think is very hold on a second here, Hold
• 25:13
  on, there we go. Peter Schiff has something to
• 25:17
  say in regards to this, and that's his second quote down
• 25:21
  here. He said this is the lowest
• 25:25
  savings rate I think in a couple of years, right?
• 25:29
  People can't afford their bills, so they can't save.
• 25:33
  So this is not good news that Americans are having to deplete
• 25:37
  their savings and go to places like where coin Shop Chris works
• 25:41
  and sell their silver and gold. This is bad news.
• 25:44
  When the economy is good, you save more.
• 25:47
  That's when you add to your rainy day fund.
• 25:50
  You have to tap into it when times are tough.
• 25:53
  And that's what people are doing now and you're struggling.
• 25:57
  And that's exactly what Americans are doing.
• 25:59
  They're struggling and they're tapping into their savings in
• 26:03
  order to do it. OK, that's what's going on.
• 26:07
  That's the reality. Again, guys, the reality is when
• 26:12
  it's it's it's going to happen. Can you feel it?
• 26:15
  Am I alone? Hold on a second.
• 26:17
  Let's pull up Ron McAdams. Thank you Ancient Tom, for your
• 26:21
  super chat. And there's our friend Ron
• 26:23
  McAdams peeking up at us from the lower left side of the of
• 26:26
  the of the screen. It's going to.
• 26:29
  I can feel it in my bones. My bones could be wrong.
• 26:32
  Don't make any financial decisions based on what I'm
• 26:34
  saying. But we are going to have the
• 26:36
  fruition of economic troubles hitting us within the next six
• 26:42
  months and it's all going to happen leading up to this big
• 26:47
  election, right? I've made two bold predictions.
• 26:50
  I do think that by next year, by May, we're gonna have $62.50
• 26:56
  silver. You can mark my word.
• 26:58
  You can bookmark this video. I also think that in the next
• 27:01
  six months we are gonna see it's gonna be on the mainstream
• 27:05
  media, recession, hard times in America, mass layout, whatever,
• 27:10
  right? It's gonna come to a head, and
• 27:13
  it's absolutely starting right now.
• 27:17
  OK, let's get back to gold quickly.
• 27:24
  Quickly, our favorite subject. Gold and silver.
• 27:28
  What is going on? What is going on?
• 27:31
  close that. OK this comes from Zero Hedge
• 27:37
  the the only safe asset quote, UN quote Chinese consumers
• 27:44
  overtake India in gold buying for in gold buying frenzy.
• 27:50
  Guys this we talked about this yesterday.
• 27:54
  This is what's going on in the world of gold and silver.
• 27:58
  In case you missed the the memo the Chinese and the Indians are
• 28:03
  buying up all the world's gold and silver.
• 28:07
  Ever wonder why like we talked about premiums are at are at
• 28:11
  such low levels in the United States right.
• 28:15
  Because we're not buying it. How can premiums.
• 28:18
  How can there be no demand Muted demand.
• 28:21
  Not you not me. I'm not putting you down right
• 28:24
  It's the it's the sheeple are not buying silver and gold in
• 28:28
  the United States. Premiums are at but at at at
• 28:31
  very historically low levels. How could the price be going so
• 28:35
  crazy? It's because India and China are
• 28:39
  buying it like crazy. Like absolute crazy.
• 28:44
  Remember the Hunt brothers from 19801979?
• 28:48
  The Hunt brothers cornered the silver market.
• 28:51
  Silver went to $50 per oz. The Hunt brothers.
• 28:56
  The two brothers, right. In today's dollars that $50 per
• 29:01
  oz in 1980 would be like over $150.00 per oz.
• 29:06
  I want you to consider something two brothers cornered the
• 29:11
  market. Compare that to today, where we
• 29:14
  have two of the largest countries in the world, 1.4
• 29:20
  billion people each. But wait, there's more.
• 29:23
  They also have the most rapidly expanding economies in the
• 29:28
  world. But wait, there's more.
• 29:29
  They also have the most rapidly expanding middle or consumer
• 29:35
  class. But wait, there's even more.
• 29:40
  They love gold and silver. And this is not a recent
• 29:45
  phenomena in China and India. They've loved gold and silver
• 29:50
  for generations and generations. This morning I was dropping my
• 29:55
  daughter Lily off. She's going to 6th grade camp
• 29:57
  and I was talking to the father of one of her friends, right?
• 30:00
  He happened to have grown up in India.
• 30:02
  Super sharp guy. I'm actually going to have him
• 30:04
  on the show on May 12th. He's going to talk this guy's
• 30:08
  incredible about what gold and silver mean in India.
• 30:13
  OK, These people have it ingrained in them.
• 30:17
  All right, so we let's go back to this.
• 30:19
  Let's just talk about silver. Two brothers cornered the market
• 30:24
  again. What about two of the largest,
• 30:27
  growing, most powerful countries in the world who have a
• 30:30
  generational appreciation for gold and silver?
• 30:33
  Do you think there's any wonder why?
• 30:36
  All right, silver sells for $3.00 an ounce higher on the
• 30:39
  Shanghai Gold Exchange. Oh, I don't know.
• 30:42
  Put your scratch your head. Right.
• 30:44
  Is that a head scratcher or what?
• 30:46
  Anyway, here we go. There's.
• 30:48
  Look, basically, no matter how you we go through this article,
• 30:52
  there's, you know, some Chinese people buying gold.
• 30:56
  OK, just crazy gold represents here.
• 31:00
  Let's just read this. Let's read this together.
• 31:04
  Basement dwellers. What do you say?
• 31:06
  Gold represents the only safe asset for Chinese consumers to
• 31:10
  protect their wealth? This.
• 31:12
  Wait a minute. This is a big one against
• 31:15
  domestic inflation, asset price declines, as well as against
• 31:20
  geopolitical risk. What about the United States?
• 31:24
  What about when we, when people wake up here, right?
• 31:26
  In China, they've had problems in their real estate market.
• 31:29
  They've had problems in their stock market.
• 31:32
  What about when it had the United States in Western Europe?
• 31:37
  The same thing is going to happen here.
• 31:39
  OK, that was Changzhui. And he also said, quote, I
• 31:44
  expect Chinese household demand for gold to rise more in the
• 31:48
  future and the Chinese central bank will also continue to
• 31:53
  purchase more gold to prepare for more geopolitical turmoil
• 31:58
  ahead. We're not even talking about
• 31:59
  that today, today's doom and gloom in the economy, but of
• 32:03
  course as you know right the the, the, the geopolitical
• 32:08
  situation in this world is absolutely crazy.
• 32:11
  No matter how this shakes out, it is good for the silver price.
• 32:17
  It is good for the gold price. And what about this?
• 32:20
  Have you considered a Ron McAdams?
• 32:24
  Thank you again for the Super chat.
• 32:25
  Thank you guys always for the Super chat.
• 32:27
  Don't forget, please subscribe to the channel.
• 32:29
  Give this a thumbs up. But we got, I got something now
• 32:32
  that's going to knock your socks off.
• 32:35
  So it's that time of the show when you need to hold on to your
• 32:38
  socks. But first I want to say thank
• 32:40
  you to channel sponsor First Mining Gold.
• 32:42
  You can learn more about them at firstmininggold.com.
• 32:45
  They're a Canadian gold development company with two
• 32:47
  multi million ounce projects in Canada.
• 32:51
  They've got an awesome website, check them out.
• 32:53
  And our friends at Fortuna Silver who today announced that
• 32:56
  they were re upping their share buyback program, they are
• 33:00
  generating a lot of cash right now.
• 33:02
  They're using it to pay down debt.
• 33:04
  Check. I like that.
• 33:06
  They're using it to they bought back half of a royalty on one of
• 33:10
  their new big mines in West Africa.
• 33:12
  Check. I like that they're spending
• 33:14
  money or or expanding their capacity in Argentina.
• 33:20
  Check. I like that the the company
• 33:22
  makes wonderful great financial moves.
• 33:26
  I've got a lot of respect for the executive team there
• 33:28
  including the CEO, Jorge Canoza. Now you want your socks knocked
• 33:32
  off. Think about this, are you a gold
• 33:36
  and silver investor? Are you ready for the good
• 33:39
  times? Because this is going to make it
• 33:41
  crystal clear for you, right? We had a 10 year bull run in the
• 33:47
  precious metals market, you know, around O1, O2 to around
• 33:50
  2011 basically. OK, Keith Newmeyer said this.
• 33:55
  He's the CEO of First Majestic Silver.
• 33:58
  He's the guy that calls calls for triple digit silver.
• 34:01
  We love Keith, right? He's a warrior in the precious
• 34:04
  metal sector. But I was talking with him.
• 34:06
  Yes, he was talking with me here in the basement and he said
• 34:10
  something that I will never forget that I think is so
• 34:13
  critical for all of us to remember.
• 34:16
  He said when that bull run was going on it would go up right,
• 34:21
  right, like we just went through.
• 34:22
  Oh, Gold went to 2400. Woo, yeah, crazy, crazy, right.
• 34:28
  Silver went to 30 or 2999 or whatever.
• 34:31
  Remember a couple weeks ago? Oh my God, it was like crazy,
• 34:35
  right? And then it would fall back like
• 34:38
  we're to heaven today, right? The price goes down guys.
• 34:41
  Nothing goes straight up but this.
• 34:44
  That's not the I'll tell you when the knock the sock off
• 34:46
  moment is here, OK, it pulls back like we had today and he
• 34:50
  said like when it would pull back during that 10 year period,
• 34:53
  everybody would think, oh the bull runs over oh it's over.
• 34:57
  Yeah. You should never invest in
• 34:58
  silver or gold. They're pet rocks and Nah, see
• 35:02
  we knew you were you were dumb to put your money into silver
• 35:06
  and gold right. But then it would come back
• 35:08
  again. So it went like this.
• 35:11
  Am I? Can you see that it went like
• 35:12
  this during that period? Up and down a little bit, then
• 35:16
  back up even higher and down again, then back up and even
• 35:20
  down a little bit more than back up.
• 35:22
  Went on for almost 10 years, OK. And it kept going higher and
• 35:28
  higher and higher. Well, think about what we've
• 35:32
  been through over the last three years, almost the exact
• 35:35
  opposite, right? Gold would go, gold would go
• 35:38
  down. That would start to come back up
• 35:41
  and then it would go down again and it would start to come back
• 35:43
  up and then it would go down again.
• 35:45
  Then it would start to come back.
• 35:46
  Just like that bull run, right. It went on longer and and and
• 35:50
  and and it would defy people's thoughts, right?
• 35:54
  But eventually it changed. Eventually what we're going
• 35:58
  through will change. We will see a paradigm shift.
• 36:02
  We will see a big major weather pattern shift.
• 36:07
  The tide will turn. I believe the tide has turned.
• 36:11
  Yes, sure. OK.
• 36:14
  That's the knock the socks off. Even though today's a bad day,
• 36:19
  even though we've had a little bit of a pullback, I believe
• 36:23
  that the macro environment, the macro fundamentals for the
• 36:28
  silver price, for the gold price that they have changed, for the
• 36:32
  precious metal mining stocks, which haven't even come close to
• 36:36
  catching up to what's going on with the price of the metals.
• 36:39
  Right, this next wave, right, everything is different.
• 36:42
  I I started saying it back in December.
• 36:46
  I said we are in a new day, a new era, right?
• 36:49
  Instead of Lucy continuing to pull the rug out from underneath
• 36:53
  us that we were in an environment where things had
• 36:56
  genuinely changed, part of that process as we go up is to pull
• 37:02
  back and that's exactly what's going on right now.
• 37:05
  Could it get worse tomorrow? Absolutely.
• 37:08
  We got Jerome Powell in the Federal Reserve, right?
• 37:11
  They still hold sway over the paper markets, right?
• 37:16
  Yeah, we could, we could see. But.
• 37:18
  But it's going to be real interesting tomorrow.
• 37:21
  Tomorrow. Tomorrow, I will say is the
• 37:24
  biggest day in the history of the universe for gold and
• 37:28
  silver. If we get a Green Day in the
• 37:31
  metals tomorrow, then that will confirm for me above and beyond
• 37:36
  anything that we've been through in the last two or three years
• 37:39
  that we are absolutely in a new era for the metals price.
• 37:43
  Tomorrow. I'm going to go out on a limb
• 37:45
  again, say if, if, if, if, gold and silver close in the green
• 37:51
  tomorrow. Absolutely.
• 37:53
  We're off. We're off to the races.
• 37:57
  Oh, I got to ring the cowbell. Thank you, Susie.
• 38:00
  Everybody, say hi to Susie. All right, That's Susie.
• 38:03
  I'm the walkie-talkie, the real boss.
• 38:06
  If tomorrow we have a red day in the silver market, in the gold
• 38:11
  markets, it's not the end of the world.
• 38:14
  The weather pattern, the fundamentals have absolutely
• 38:19
  changed. Guys, we are in a doom loop.
• 38:21
  I'm sorry. In this country, right?
• 38:24
  You better be prepared, right? The mathematics, right?
• 38:28
  the US debt clock. No matter how you want to slice
• 38:31
  it or dice it, this is an untenable situation.
• 38:36
  You do not have to have a, a a a master's degree in economics
• 38:41
  from Columbia University to be able to figure out that this is
• 38:47
  not going to work. OK, it is not working.
• 38:51
  I don't care if we're the biggest, most powerful country
• 38:53
  in the world. The real biggest, most powerful
• 38:57
  force in the world are gold and silver.
• 39:00
  Always have been, always will be.
• 39:03
  Hey, I appreciate you joining me today.
• 39:05
  I'm going to see you next time. OK.
• 39:06
  Be well. Be nice to yourself.
• 39:08
  Oh, cowbell. Sorry.
• 39:16
  Thank you guys. Almost forgot.
• 39:17
  The cowbell. Susie would have really given me
• 39:20
  a a lashing. Susie is the best, nicest wife
• 39:23
  in the world. I'm just joking when I say that.
• 39:26
  Thank you for being here, All right.
• 39:28
  And I'll see you guys soon.