Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **SILVER PRICE** This is CRITICAL (You MUST Understand) - China and India - Gold Price Too!

Transcript

**SILVER PRICE** This is CRITICAL (You MUST Understand) - China and India - Gold Price Too! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  We could absolutely be at $19.00 silver right now if it weren't
• 0:06
  for this one absolute critical factor that you need to
• 0:10
  understand and need to understand how that will play
• 0:14
  out as we move into the coming quarters and years.
• 0:17
  Gold could easily be at what, $1600 right now because of the
• 0:24
  same critical factor that we're going to talk about, but also
• 0:30
  Citibank. Did you know Citibank has like
• 0:32
  250,000 employees? That's a lot of people.
• 0:36
  Citibank. I mean, that's like 5 football
• 0:39
  stadiums full of people that supposedly are working at
• 0:43
  Citibank. None the less, None the less,
• 0:46
  they're calling for $3000 gold. We're going to dig into that and
• 0:51
  woah, surprise, surprise, surprise, Gomer Pyle.
• 0:55
  It also has something very much to do with this one critical
• 0:59
  factor that if it were not present right now, you'd be
• 1:04
  talking about $1600 gold, you'd be talking about $19.00 silver.
• 1:09
  But let's go out and take a look at the price cause gold and
• 1:12
  silver are actually trading today.
• 1:15
  Let's go take a look and see what's going on in the markets
• 1:17
  alive right now. We'll go to channel sponsor pin
• 1:21
  backs. Whoa, whoa, whoa.
• 1:27
  Is that right? Silver $31.55.
• 1:31
  I didn't say that in an excited enough tone.
• 1:34
  Silver is at $31.55 up over a dollar right now.
• 1:39
  All right, I'm going to warn you.
• 1:41
  I want to warn you guys. I've been through this before.
• 1:45
  I've seen the same scenario play out where tomorrow we could be
• 1:49
  down $1.50, we could be like scratching our heads 24 hours
• 1:54
  from now depressed because gold is at $29.42.
• 2:00
  OK. It seems like, and I don't think
• 2:02
  this is going to happen and I do think we're in a different, it's
• 2:04
  completely different environment, but several times
• 2:08
  in the past on holidays like this on a when, when the US
• 2:11
  markets are closed on Monday and then the big markets all open up
• 2:16
  on Tuesday, it's like we'd have a big run up and then boom, you
• 2:20
  know, you know, the whole game. But nonetheless, if you want to
• 2:23
  get your hands on some silver, gold or platinum right now
• 2:26
  before the price potentially continues to move higher, you
• 2:31
  want to make prudent decisions. I always recommend dollar cost
• 2:35
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  They're owned by two great brothers.
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  And what's even greatest in my opinion 'cause you know you're
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  we're all looking out for ourselves.
• 2:55
  We want to the biggest stack we can get is that with Pin backs,
• 2:59
  the prices are always very difficult to beat.
• 3:03
  I just feel like I've saved so much money and gotten so much
• 3:06
  more metal working with pin backs over the last year.
• 3:10
  So thank you pin backs for sponsoring Ron's basement.
• 3:12
  And guys, if you ever want to get yourself a converted part of
• 3:16
  an IRA into precious metals, easy for me to say I'm on the
• 3:21
  wrong screen. You, yes, if you ever want to
• 3:26
  convert all or part of an IRA to precious metals, do yourself a
• 3:29
  favor, check out Pembex as well. I think you'll like what they
• 3:32
  can do for you there as well. So, so So what is going on?
• 3:36
  What is this massive factor, right?
• 3:39
  That if it wasn't present, if this was not happening right
• 3:42
  now, guys, we'd be talking about $19.00 over $1600 gold.
• 3:48
  It all has to do with this. I'm gonna make it very easy for
• 3:52
  you. OK?
• 3:53
  A hand drawn graph. Here we go.
• 3:56
  Hold on. This is it.
• 3:58
  OK. There's one thing driving the
• 4:02
  silver and gold price higher right now.
• 4:05
  We may not like it, right? We are.
• 4:07
  We are not part of the reason. We're a very small part.
• 4:10
  The big reason why silver and gold.
• 4:12
  See the green check mark. All right, That silver and gold,
• 4:15
  physical demand and China and India are the only one of the
• 4:21
  four quadrants that are delivering the goods.
• 4:23
  Baby, our friends in China are delivering the goods, right?
• 4:28
  They're not buying mining stocks.
• 4:30
  And if you go down to the bottom, what is that Roe?
• 4:33
  Yes, the USA and the West, we're not buying physical gold and
• 4:37
  silver. We're not buying the mining
• 4:39
  stocks either. There's one thing that has
• 4:42
  driven this rally and that makes sense when we think about it,
• 4:46
  guys, that makes sense. It's been China and India, the
• 4:50
  BRICS countries, right? Russia as well.
• 4:52
  But, but think about this, 'cause everybody's perplexed.
• 4:56
  Oh, gold and silver went up when the dollar went up.
• 5:01
  What a bunch of bunk. The dollar.
• 5:04
  When the Unicorn fart dust found its wings and supposedly went
• 5:07
  up, everybody's perplexed. Real, real interest rates have
• 5:12
  gone up, right? And what's the real interest
• 5:14
  rate? That's the prevailing interest
• 5:16
  rate. And you subtract out the
• 5:19
  inflation rate. It's all it, it, it's, I hate to
• 5:24
  have to say this over and over, but it's all a bunch of BS
• 5:27
  anyway, 'cause we know the inflation rate's higher.
• 5:29
  But officially speaking, according to these guys, him,
• 5:33
  Hey, tell him happy Memorial Day, huh?
• 5:36
  According to him, according to hold on here her right now,
• 5:50
  right now guys, we have positive real interest rates, OK?
• 5:54
  According to the official numbers, at the rate you can get
• 5:57
  on a on a two year bond or A10 year bond is greater than what
• 6:03
  the inflation rate is. You can go to your bank and get
• 6:05
  a one year CD for 5%. And then those two people are
• 6:11
  going to tell you that inflation's only 3%.
• 6:13
  That's also bad for gold. That's also bad for silver.
• 6:16
  Let's bring it back to the main point here, right, right.
• 6:20
  Everybody's perplexed, but now we're figuring out why.
• 6:24
  OK, now we're figuring out why. Oh, let's go.
• 6:27
  Let's we got a way to do our We have to do our daily Shanghai
• 6:30
  Ghost update. Wrong one.
• 6:33
  There we go. All right, guys, let's check on
• 6:36
  what? As we're talking about China,
• 6:38
  let's check on the silver price. Let's check on the amount of
• 6:41
  metals available in the Shanghai Gold Exchange.
• 6:45
  Here's our friend Oriental Ghost.
• 6:47
  We love him. OK, this is his daily report.
• 6:50
  See the yellow finger? May 27th OK, silver on the
• 6:55
  Shanghai Gold Exchange, $34.65. Susie has been getting angry.
• 7:03
  Well, not angry, Frustrated with me.
• 7:05
  I have a confession to make because I can't.
• 7:08
  She doesn't like the way I say the name of these exchanges.
• 7:11
  And I've grew up with a lot of Chinese people.
• 7:15
  I have. Sometimes my natural Chinese
• 7:17
  accent comes out. So Silver on the Shanghai.
• 7:20
  Whoa. Shanghai Futures Exchange.
• 7:23
  No, that's gold. Wait a minute.
• 7:25
  What? Oh, they changed that?
• 7:26
  Silver. Shanghai Futures Exchange, $34
• 7:32
  and 67 centavos. OK, And that was probably
• 7:38
  before. I can't believe.
• 7:40
  Is this really happening? Hold on here.
• 7:42
  This isn't really happening. This is this right, $1.12.
• 7:48
  Oh my gosh. So really, guys, we could
• 7:51
  probably look at these prices and you know, we're going to dig
• 7:55
  into this. It's, it's critical for you to
• 7:57
  understand this. They are setting the price for
• 8:00
  gold and silver. Get it through our thick skulls,
• 8:03
  Ronnie, right? Big head Ron, right.
• 8:06
  I've always been hard headed. China is setting the price for
• 8:09
  silver $34.67 gold on the Shanghai Futures Exchange 2384.
• 8:18
  Unbelievable. But let's look what it says down
• 8:20
  here in red. What does this tell us?
• 8:22
  What? Well, why is this so important?
• 8:25
  Basement dweller, silver stacker snake in the grass.
• 8:29
  The silver vaults on the Shanghai Futures Exchange
• 8:34
  dropped to a new low since 2020. Another that's a big deal.
• 8:42
  Is this computing? It's computing for me, but tell
• 8:45
  me if I'm wrong. But guys, if the amount of metal
• 8:48
  on the exchange is going down, down and we're getting down to a
• 8:51
  2020 low, the darn Shanghai Futures Exchange only been open
• 8:56
  since 2012. You know, we're not talking
• 8:59
  about year. I mean, this is massive.
• 9:03
  We've got big, major changes going on right now.
• 9:07
  Let's go to this additional. Let's go back and say hi first,
• 9:11
  man, 500 people. Happy Memorial Day, by the way.
• 9:14
  I put it there. It is an American flag and an
• 9:18
  American flag. Happy Memorial Day.
• 9:20
  Thank you for being here. We're talking about what is
• 9:24
  probably the biggest reason why silver, not probably the
• 9:28
  biggest, the biggest news in decades about silver and gold.
• 9:32
  And if we didn't have it, we'd have $19.00 silver, we'd have
• 9:35
  $1600 gold. OK, let's go look at this.
• 9:40
  This, this is where it starts to get interesting.
• 9:42
  There's there's a hidden message in here.
• 9:45
  Guys, hold on, hold on. Let's go.
• 9:47
  You ready? Let's go on a little trip onto
• 9:50
  the Internet. OK.
• 9:53
  And this, this guy, King Kong 9898.
• 9:58
  Awesome man. Thank you, King Kong, you are
• 10:00
  bringing out some great information.
• 10:02
  He's on X, he says. My good friend the Oriental
• 10:06
  ghost who has years of experience with the Shanghai
• 10:09
  Futures Exchange and Shanghai Gold Exchange, I won't say that
• 10:12
  anymore, just told me this. JP Morgan, Jamie Dimon, Goldman
• 10:19
  Sachs and Glencore are also playing the Shanghai verse
• 10:24
  London Comex silver ARB. What's the silver ARB?
• 10:29
  That's that difference guys between the $35 silver price
• 10:33
  that we have in Shanghai versus the $4.00 lower price in the
• 10:38
  West. But this is breaking, OK?
• 10:41
  JP Morgan, Goldman Sachs, yeah, OK, are doing are playing the
• 10:46
  ARB. This makes sense because in the
• 10:48
  official Chinese government notice, it says that all
• 10:50
  commodities that go into the Shanghai Free Trade Zone, the
• 10:56
  Shvitzitz best end for the Shifi Shanghai Futures Exchange, are
• 11:05
  import tax exempt. That means there's no tax in
• 11:09
  reality, practice import value added tax is not included in the
• 11:13
  Shanghai Futures Exchange price for these arbitration players.
• 11:17
  And arbitration player means, oh, it'd be like me.
• 11:22
  Let's say, let's say you live, you got two neighbors, one on
• 11:24
  each side that don't get along with each other, OK.
• 11:27
  And the one guy on the on the one side of your house, OK, you
• 11:32
  get along with both of them, but they don't get along with each
• 11:34
  other. The one guy on the left left
• 11:36
  hand side of your house says, I got a bunch of silver.
• 11:39
  I'll sell it to you for 30 bucks an ounce.
• 11:42
  And then you got the neighbor on the other side who doesn't talk
• 11:45
  to that guy who says, hey, just so you know, I'll buy all the
• 11:48
  silver you can sell me for $34 an ounce.
• 11:52
  You'd be walking across your front yard all day long.
• 11:54
  And that's, that's arbitration. It's taking advantage of price
• 11:57
  differences. And we have major, excuse me,
• 12:00
  major price differences between the East and the West.
• 12:06
  OK, let's get back here. Wow, 600 basement dwellers.
• 12:15
  Baby, we're gonna go for our record today.
• 12:17
  Thank you for being here. You're a big deal.
• 12:20
  You love silver and gold. You have been, you've been a the
• 12:23
  black sheep of the country like me, right?
• 12:26
  You've been a lone wolf, right? We are a sliver of a sliver of
• 12:30
  the population and we hang out together.
• 12:32
  Please give this a thumbs up. Super chats are super
• 12:34
  appreciated. And oh, you can always
• 12:37
  subscribe. We still have the subscribe for
• 12:39
  free deal going on, so you better watch out.
• 12:42
  You know, Susie might try start trying to charge people to
• 12:45
  subscribe now. All the content is free.
• 12:47
  All right? Get a lot of support from you
• 12:49
  guys and also from our sponsors. So the content here is free.
• 12:53
  Neil. Good to see you, my friend.
• 12:55
  Buy silver, platinum and crystallized osmium.
• 12:58
  Look at Neil. He's bad, baby.
• 13:01
  He's bad. OK, let's go over here and let's
• 13:05
  talk about 3000. Let's talk about $3000 gold.
• 13:08
  What the heck, huh? Here we go.
• 13:11
  Our friends at Kidco 3000. Enough $1600 gold.
• 13:16
  Ernest Hoffman tells us that the Fed will cut five times this
• 13:21
  year. Oh, whoa, whoa, whoa, whoa,
• 13:22
  whoa. I forgot to tell you guys
• 13:23
  something very important. Hold on, hold on.
• 13:27
  We're going to get back to $3000 gold.
• 13:29
  I forgot to tell you the hidden meaning.
• 13:31
  OK, I want to, I want to point out something else that very few
• 13:34
  people are talking about when it comes to the big banks sucking
• 13:39
  all the gold and silver out of the United States and selling it
• 13:42
  in China that they're in like the last two months.
• 13:45
  Executives from four of the biggest trading houses, I
• 13:48
  believe. And I had the tweet earlier, but
• 13:51
  I know it was JP Morgan and a couple of other have all made
• 13:56
  personal visits, OK? Executives from these big
• 14:00
  American companies made personal visits to the Shanghai Gold
• 14:04
  Exchange and the Shanghai Futures Exchange, OK?
• 14:07
  Why do you think they're doing that, Huh?
• 14:09
  Scratch your head on that one for a little bit.
• 14:11
  I'll tell you why, right? Because they're making a lot of
• 14:14
  money and they're facilitating. These guys will sell you out.
• 14:17
  It's like when they shipped all the jobs to China, right?
• 14:20
  These executives will sell us out in a second.
• 14:23
  We're cool with it. We're cool with it, you know,
• 14:25
  Hey, because our fellow Americans aren't pulling their
• 14:28
  weight, right? Let's go back, OK?
• 14:31
  I'm not, I'm sorry, but right, We're cool with it because look,
• 14:36
  look on this, right? Our fellow Americans are not
• 14:39
  pulling their weight. So fine.
• 14:42
  You know what, China? You want to get all the silver
• 14:44
  and gold, right? We're getting all our silver and
• 14:46
  gold. Let's go back to this article.
• 14:48
  Sorry, I'm bouncing around on you guys this morning.
• 14:50
  Gold $3000 per oz. Let's see how that can happen.
• 14:56
  Can it happen? I bet you're wondering, huh?
• 14:58
  I'm wondering by the first half of 2025, Citigroup's Maximilian
• 15:04
  Layton. Oh, Maximilian, you're only one
• 15:07
  in 240,000 employees at Citibank.
• 15:10
  The current pullback in gold prices is very temporary, as the
• 15:15
  Federal Reserve will deliver multiple rate cuts, which will
• 15:18
  propel gold prices to $3000 in the next 12 months, according to
• 15:26
  Max Layton, global head of Citigroup Commodities Research.
• 15:30
  This guy's not just gold and silver, guys.
• 15:33
  He's the whole commodity sector. He was on Bloomberg, excuse me,
• 15:41
  Bloomberg TV on Friday and he's talking about the, the dollar.
• 15:46
  He said, quote, this is interesting.
• 15:49
  We certainly think about that. The house view, meaning his
• 15:53
  fellow analyst at the Citigroup is quite out of consensus City
• 16:03
  research house view. We got five Fed cuts this year,
• 16:06
  meaning the next 12 months they're seeing 5 cuts, lowering
• 16:09
  rates into the end of the year early next year.
• 16:13
  And that's certainly going to be, we think, the backbone of
• 16:15
  the next move higher in gold. Leighton said City believes gold
• 16:19
  is the aset with most leverage to that kind of move.
• 16:24
  And interest rates, we've got to go into $3000 over the next 12
• 16:30
  months. OK, now this is where it gets
• 16:34
  more interesting. Gold's broken the relationship
• 16:36
  with real rates. We covered that earlier as of
• 16:39
  late. And that's been all about
• 16:41
  colossal Chinese retail demand, he said.
• 16:45
  I mean, off the charts, OK, what's going to happen if
• 16:50
  China's retail demand for gold and silver go away?
• 16:53
  Will China's retail demand for gold and silver go away?
• 16:57
  That's those are questions you need to we, those are questions
• 17:01
  we need to answer, answer for ourselves, folks.
• 17:03
  Ask whether, oh, here we go. And Green asked whether city
• 17:08
  sees this outside Chinese demand continuing at current levels.
• 17:12
  Max said that was most worrisome unknown, the most worrisome
• 17:17
  unknown in their view. Max, come on, buddy, You're
• 17:20
  telling us $3000 gold. Now you're saying you're
• 17:22
  worried. That is the biggest downside
• 17:24
  risk to gold for us. He said ultimately the
• 17:26
  government controls the quotas on the imports.
• 17:29
  Have you thought about that? Have you considered that that
• 17:32
  kind of Yeah, that does Like the government can control how much
• 17:35
  gold goes into China. The quotas aren't published.
• 17:39
  And they could dry up if the government becomes unhappy with
• 17:43
  the transfer of wealth from perhaps consumption and retail
• 17:47
  into physical goal. We're going to talk later.
• 17:50
  It's shocking what's going on in China with the average people
• 17:54
  and their their the amount of money they save and now how
• 17:58
  they're changing their spending habits.
• 18:00
  Okay. Layton added that despite gold
• 18:02
  strong performance year to date, the attention he's been seeing
• 18:06
  on the commodity space has been going to another metal.
• 18:09
  Of course they're talking about copper.
• 18:11
  I think there's a lot of room for gold, he said.
• 18:12
  Frankly, many people, including ourselves, were scratching our
• 18:16
  heads as to what the new drivers were, and now they've become
• 18:27
  clear that it's China. Oh yeah?
• 18:29
  Well, we told Max. Yeah.
• 18:31
  You know what? See, guys?
• 18:33
  They're cheating. They watch Ron's basement.
• 18:35
  I know this for a fact. OK?
• 18:36
  We are becoming exceedingly popular on Wall Street.
• 18:40
  I think we're going to get a lot more interesting gold because
• 18:43
  people can get their heads around it.
• 18:45
  Yeah. You mean like the sheeple in the
• 18:48
  United States? I'm not talking about you.
• 18:50
  You're a lone wolf, baby. You've been buying silver.
• 18:53
  You've been buying gold, right? Maybe you're new.
• 18:56
  That's OK too. You're newly converted sheep.
• 18:59
  OK, You're you. You were a wolf in sheep's
• 19:02
  clothes prior to this. But that's we're not talking
• 19:05
  about you, but the sheeple are getting their heads around it.
• 19:09
  In April, City updated their gold price to $3000 per oz.
• 19:13
  OK, we've heard that three times here.
• 19:16
  This is interesting. The summer of 2019, Max says I
• 19:19
  was in your studios calling for $2000 per oz gold as a base case
• 19:24
  over the next 12 months. All right, Oh, OK, Akash Dashi
• 19:28
  City North American head of commodities research.
• 19:31
  I thought Max was the head, said during an interview with Yahoo
• 19:35
  Finance on April 16th. He also so he was on in 2000.
• 19:39
  Oh, they apparently they are. That's a 2 headed monster over
• 19:42
  there at Doshi, said investor demand is the quote UN quote big
• 19:47
  driver that will make this come to pass.
• 19:49
  We think financial demand for gold is only catching up to what
• 19:53
  is strong physical demand. OK.
• 19:55
  So what they're talking about here is that quadrant chart that
• 19:58
  I showed you that maybe Western investors, right, both in the
• 20:03
  precious metal mining stocks and in the physical metal.
• 20:07
  This is this is where it gets exciting for you as a silver and
• 20:11
  gold investor, guys. This massive run that we've had
• 20:15
  has been done with, with the gold and silver market having
• 20:19
  two injured knees. One injured knee was the lack
• 20:22
  of, of, of, of, of support and interest in silver and gold from
• 20:27
  the Western investors. The other injured knee, Ouch, is
• 20:31
  that there's been no interest in the precious metal mining
• 20:33
  stocks. All of these things play
• 20:35
  together when we start to see, like you said, when people start
• 20:38
  to wake up, that would could be a massive driver for the silver
• 20:43
  and gold price. OK, referring to reports here,
• 20:47
  we're right here for those of you who need me to point right
• 20:50
  here, referring to reports of burgeoning bar and coin sales,
• 20:56
  He says that's a global trend. We've seen bar and coin demand
• 21:00
  surge since the pandemic. It's now above the pre COVID
• 21:04
  trend and that we think represents a strong alternative
• 21:08
  for he used the wrong term, but he used Fiat demand story.
• 21:14
  We need these guys to start calling it what it is.
• 21:16
  Baby, you watch. I guarantee you within the next
• 21:19
  12 months, these these city people, you know what they're
• 21:22
  going to be doing. You know, he's going to say
• 21:24
  something like we think that represents a strong alternative
• 21:28
  Unicorn fart dust demand story. All right, last, last thing,
• 21:33
  this brings it all home. I would note that if there is
• 21:36
  AUS recession, which there will be, which is not priced by
• 21:39
  markets right now, that could also be a further kicker.
• 21:44
  OK? So this guy's saying 3 grand
• 21:47
  gold. And you know guys, I'm going to
• 21:50
  tell you right now, $3000 gold equals $64.33 silver minimum,
• 21:58
  OK? And he's saying right now that
• 22:01
  there's not a recession price then OK, But if there if we do
• 22:05
  have a recession, that could also be a further kicker towards
• 22:09
  $3000 an ounce over the next 12 months.
• 22:12
  Doshi said, all right, so guys, let's be real here.
• 22:18
  Let's get our let's be real, let's not live in fantasyland.
• 22:21
  Let's say thank you to Cool Ken. I'm moving you guys all over the
• 22:26
  place. Thank you, Cool Ken, TG for the
• 22:28
  Super Chad. Thank you for your compliment
• 22:30
  too. And who's this Blaine Magic
• 22:35
  Jack? Appreciate your research work.
• 22:37
  Well, thank you, man. Hey, guys, this is a great
• 22:39
  community. You are part of it.
• 22:42
  You are part of it. OK, Right.
• 22:44
  And whatever we want to call ourselves, the Navy Seals of the
• 22:47
  investment world. Black sheep.
• 22:52
  The cow that wandered away from the herd because it sensed
• 22:55
  danger. Man, think about that.
• 22:58
  That's really what we are. We're cows, big, big.
• 23:01
  We're bulls or whatever. I don't know.
• 23:03
  Anyway, we're in a field. We can, we, we can sense there's
• 23:07
  trouble coming. We've wandered over into the
• 23:10
  little safe Grove, you know, to that's what we're doing.
• 23:14
  A man. I'm going to show you a video, a
• 23:16
  shocking video later of a storm that my whole family was in
• 23:22
  yesterday. We live in at hailstorm.
• 23:24
  We were in a what was it called a hail cell.
• 23:27
  I don't know, but our minivan looks like it got bombed.
• 23:30
  It's just really horrible. I'll show you that later.
• 23:33
  Let's get back to China because because it's this is it guys.
• 23:38
  This is it. This is it.
• 23:40
  OK, This is the biggest factor and what other proof do we have?
• 23:45
  Let's go check this out. I wasn't trying to make this so
• 23:49
  China centric, but but this right from Zero Hedge, they say
• 23:57
  I'm not prepared for class. We'll we'll spend a little time
• 24:00
  on those charts. Exceptionally strong PBOC,
• 24:03
  that's the People's Bank of China and Chinese private sector
• 24:06
  buying continues to boost the gold price.
• 24:09
  We're talking about silver also right in India.
• 24:12
  We're not even talking about India Today, but India is just
• 24:15
  as big of a component of this whole story.
• 24:18
  Chinese private sector gold imports account for 543 tons.
• 24:22
  In the first quarter that PBOC added 189 tons.
• 24:26
  This is from John Newly's use from Gainesville Coins.
• 24:30
  Most of the PBOC's purchases are unreported.
• 24:34
  China continues to be the marginal buyer in the gold
• 24:36
  market, driving up the price. I expect that China will remain,
• 24:41
  OK, a robust player of a buyer of gold going forward.
• 24:46
  Quote, China has taken over the gold price control from the
• 24:51
  West. I showed that in 2022, China
• 24:54
  broke the peg between the US dollar gold price and real
• 24:58
  yields. OK, We talked about this
• 25:00
  earlier. Here it is in graphic form.
• 25:01
  Guys, this is the 10 year US tips, right, which is inverted.
• 25:08
  And here's the US dollar gold price.
• 25:11
  All right, look how look how the how they followed each other
• 25:14
  through all that time, all those years.
• 25:17
  And it goes back even further. Now the gold price has
• 25:20
  decoupled. OK, enough of that.
• 25:22
  Piedmont gold mine increased by 38% in Q1.
• 25:27
  The media is aware that since 2022, central banks mostly buy
• 25:30
  gold covertly, OK, they're buying.
• 25:33
  What is this? What does this mean?
• 25:37
  OK, you might be wondering, why would the central banks be
• 25:39
  buying it covertly, right in secret?
• 25:43
  Oh, by now it's widely known that the World Gold Council
• 25:46
  publishes a single statistic on aggregate central bank buying
• 25:50
  each quarter, which is markedly higher than what all monetary
• 25:55
  authorities combined report to have bought.
• 25:58
  Which central banks are causing the difference isn't made clear
• 26:02
  though. So what they're saying here is
• 26:05
  every quarter the world central banks will say we bought this
• 26:09
  much gold. When you add it all together and
• 26:12
  compare it against what the world got Gold Council says all
• 26:15
  the world central banks bought in total.
• 26:17
  They don't reconcile the World Gold Council saying that the
• 26:21
  world central banks are buying significantly more gold and they
• 26:24
  are OK. Look at this difference.
• 26:27
  The red line is the reported buying the blue line.
• 26:31
  Let's see if I can make this a tiny bit smaller for you.
• 26:34
  Hold on, I have to look at some ads for now.
• 26:37
  But anyway, the blue line is is what the World Gold Council's
• 26:43
  saying. So the red line, that's what the
• 26:45
  banks are saying. The blue line is what the World
• 26:47
  Gold Council's saying. Let's have a sip of coffee.
• 26:50
  I'll be right back. Let's move down.
• 27:01
  Estimated quarterly PBOC gold purchases and metric tons.
• 27:05
  Just look, the gold bar is the amount of gold being bought by
• 27:09
  the P back People's Bank of China every quarter.
• 27:13
  Do you see something here, guys? Do you see something?
• 27:16
  You know, actually the price went up.
• 27:18
  But then look at this, look at these quarters.
• 27:21
  What is it 12345 say the last seven quarters, almost two
• 27:24
  years, right? This is China buying gold.
• 27:28
  They're government that this is not the people.
• 27:31
  And we're going to talk about the people next.
• 27:32
  And it's really interesting what the Chinese people are doing,
• 27:36
  taking in in account unreported purchases.
• 27:39
  The Chinese central bank now holds gold reserves weighing
• 27:43
  5500 tons. Does that what what is what you
• 27:48
  might be thinking like, right. Well, how does that compare to
• 27:50
  the United States? We own 8000 metric tons.
• 27:55
  We're supposedly, supposedly right.
• 27:57
  Nobody's audited it, which everyone finds, like, baffling,
• 28:02
  right? If we actually have all this
• 28:03
  gold, why can't somebody audit? It's our gold, right?
• 28:08
  I mean, come on, man. Anyway, I digress.
• 28:10
  China, China monthly net gold imports.
• 28:15
  Wow, man, that's the red line there.
• 28:19
  OK? It's unbelievable.
• 28:25
  OK, this is now ETFs. How does that play in Q1?
• 28:28
  The UK and Switzerland, we're both net exporters and Western
• 28:31
  ETF inventories declined again, guys, the only and it's OK, it's
• 28:38
  it's actually a good thing because it gives us so much room
• 28:42
  for improvement when it comes to demand for the metals.
• 28:45
  OK, at the time of this riding the West has not yet joined the
• 28:49
  bull market. You and I have woohoo, but we
• 28:53
  better say thank you to China and India.
• 28:55
  I'm telling you I have some Chinese neighbors and some
• 28:58
  Indian neighbors. After I hugged my neighbors
• 29:01
  solar panel to say hi to the silver, I'm going to hug my
• 29:05
  Chinese and Indian neighbors. OK?
• 29:08
  I also have a great neighbor from Eritrea.
• 29:10
  I tell you what, I live in like the United Nations of
• 29:13
  neighborhoods and I'll tell you this guy, Ozzie, and he's going
• 29:17
  to be on the channel. He's one of my best friends.
• 29:19
  He, his English is a little difficult, but it's gotten a lot
• 29:22
  better. He's from Eritrea, Northern
• 29:24
  Africa, right next to Ethiopia, which by the way is one of the
• 29:27
  new BRICS countries. But none the less, I digress.
• 29:30
  This guy knows all about silver and gold.
• 29:32
  He grew up in a war-torn country, right?
• 29:36
  Trust me, he has a a certain appreciation and affinity toward
• 29:40
  gold none the less. So my neighbors are maybe buying
• 29:44
  gold, I don't know. But nonetheless, nonetheless the
• 29:47
  ETS, it's gives us so much room for growth.
• 29:51
  I know, right? You might get mad at me.
• 29:53
  I understand. It's OK, I'm not always right.
• 29:56
  You don't agree with me. Susie has learned that that
• 29:59
  occasionally I'm wrong throughout the throughout the
• 30:01
  course of the month or the day. But nonetheless, I'm telling
• 30:05
  you, this is something to be excited about as a silver and
• 30:07
  gold investor because while it stinks that that no, none of our
• 30:13
  cohorts, that the sheep all in the United States, they have no
• 30:18
  clue. They believe that paper money is
• 30:20
  valuable. OK, OK, that you know what I've
• 30:23
  heard this said before? The Russians think that
• 30:25
  Americans are fat and dumb. I'm not saying that that's what
• 30:28
  generally what Russians say about Americans.
• 30:31
  OK, now I'm not agreeing with it, but I'm just telling you
• 30:34
  what they're saying, right? But I would say that not when it
• 30:37
  comes to money. Americans are financially
• 30:40
  illiterate. Most of them, I'm sorry, a lot
• 30:44
  of them, they don't understand. They don't understand how to
• 30:46
  balance their checkbook, more or less the fact that they're
• 30:50
  distracted. They have no clue that the
• 30:52
  money, the paper is nothing. It's just based on confidence,
• 30:56
  right? It's based on the world's
• 30:57
  biggest PR firm, the Federal Reserve and gold or pile.
• 31:01
  I digress. I'm just telling you guys, you
• 31:04
  can rest when you lay down at night to go sleepy sleep, you
• 31:09
  can close your eyes and think, you know what?
• 31:11
  I am like way ahead of the curve.
• 31:13
  All right, private gold demand in China is likely to uphold.
• 31:17
  Here we go this Let's talk about what's going on with the demand
• 31:20
  as well as the end of the property slump is not insight.
• 31:25
  OK, That's guys the property. The people in China don't have a
• 31:30
  lot of options with their money. They have the their stock
• 31:33
  market, the property market or gold basically stock market
• 31:36
  stinks, they don't trust it. Property market crashola, they
• 31:40
  don't trust it and they really don't trust paper money.
• 31:42
  They're smarter. I'm sorry.
• 31:43
  They are OK. The gold demand China will
• 31:47
  likely uphold as well as the end of the property market is not
• 31:50
  insight. Home prices have declined in 30
• 31:53
  out of the last 33 months. That would be like 91%.
• 31:58
  The State Council is floating a plan to buy unsold houses
• 32:02
  through local governments, but blah blah blah, they're already
• 32:05
  drowning in debt. The Chinese public, which
• 32:08
  doesn't have many investment options due to capital controls,
• 32:11
  will continue to invest in gold and silver and support the
• 32:18
  price. Everybody talks about silver.
• 32:21
  I, our friend John Little from the Silver Academy had some some
• 32:25
  contacts, some tweets from some people that have contacts in
• 32:28
  China. I got a secret for you.
• 32:31
  The Chinese government is not only encouraging their people to
• 32:33
  buy gold, they're also encouraging them to buy silver.
• 32:40
  OK, sometimes I like the whisper.
• 32:42
  I'm expecting the West to join the bull market soon.
• 32:46
  ETF outflows appear to have stopped and it would only be
• 32:53
  logical for western sheep to rotate into gold at some point
• 32:58
  because of high asset valuations and an overconfidence.
• 33:04
  I did this one in orange and credit instruments.
• 33:07
  Yeah, because the whole system is based on nothing but a bunch
• 33:12
  of Unicorn fart dust. Right?
• 33:14
  And your neighbors are going to wake up and you're going to be
• 33:17
  looked at as the smartest guy in the neighborhood.
• 33:19
  But you don't care, right? Because if we were narcissistic
• 33:23
  egomaniacs, right, we would be doing, we'd be buying NVIDIA so
• 33:27
  we can go to our our family functions this summer and say,
• 33:30
  oh, I own NVIDIA, I own Apple, I'm in the tech stocks.
• 33:35
  Yeah. And it's worked out great,
• 33:37
  right. OK.
• 33:39
  But none the less, I digress. I'm going to show you some
• 33:43
  shocking hail footage in a little bit.
• 33:46
  Let's talk about what this is where this is kind of funny
• 33:50
  about. Well, it's not funny.
• 33:51
  Hold on. I'm going to bring you on a
• 33:53
  journey around the Internet. I'm actually going to go to a
• 33:56
  different browser. OK, This should work.
• 33:59
  Yep. OK, here we go.
• 34:02
  This one eliminates a lot of the ads.
• 34:04
  And this was, it's a long story anyway.
• 34:06
  China's gold rush. Gold rush.
• 34:09
  I got a video coming out this afternoon.
• 34:10
  They're now talking about a silver rush, right?
• 34:14
  We've had the silver squeeze. Right now we're having the
• 34:18
  silver rush. Nonetheless shows the Chinese
• 34:20
  still have money to spend. They're just not spending it on
• 34:24
  Starbucks or Gucci. All right, and this whole
• 34:28
  article, China's gold mine here. This is what it looks like in
• 34:32
  China. All right, dude, there's shops
• 34:35
  like this everywhere in China. Unbelievable.
• 34:40
  China's gold buying is sending prices to record highs amid
• 34:44
  economic uncertainties. We've covered that at nauseam.
• 34:47
  Chinese consumers are hedging risk, avoiding luxury brands,
• 34:50
  Starbucks and Gucci instead of premium imported brands.
• 34:55
  They're pivoting. I used to hate that word, but it
• 34:57
  doesn't get used as much now to cheaper domestic brands for
• 35:01
  domestic discretionary products. China's buying a lot of gold,
• 35:05
  sending prices of the precious metal to record highs.
• 35:09
  Sorry, when I'm using this browser, I can't do highlights,
• 35:11
  but I will give you the highlights because I haven't
• 35:13
  written down. The consumption trend reflects
• 35:16
  risk hedging and lack of confidence in the flagging
• 35:19
  economy that has been struggling to regain momentum since lifting
• 35:23
  off since the pandemic. All right, we already know that,
• 35:27
  Jinzi Chinese consumers ditch, ditch luxury for gold.
• 35:32
  Got look, India, China, even the United States, all my contacts
• 35:38
  are telling me let's all have a quick drink of coffee.
• 35:41
  Then we'll talk about what our contacts are telling us.
• 35:47
  Oh, yeah. And I have a little message for
• 35:48
  you from your good friend coin shop.
• 35:50
  Chris. You're not going to imagine what
• 35:51
  he has to say to you unless. So they're, they're not buying
• 35:56
  luxury goods and they're buying these young kids.
• 35:58
  Chinese kids are buying gold beans, which are 1G gold beans
• 36:03
  and saving them in jars. I don't know a lot of young kids
• 36:06
  in America that are doing that. OK, But my contacts are telling
• 36:10
  me that there's a lot of young people in the West that are
• 36:12
  buying precious metals. OK, all right, let's go down
• 36:19
  here. China's consumers, they're
• 36:21
  buying. And so instead of buying Western
• 36:24
  expensive luxury products, which never made sense to me.
• 36:29
  OK, here we go. As as consumer sentiment
• 36:32
  continues to slump, consumers prefer to stock their cash away
• 36:36
  in the bank rather than spend it, pushing the savings rate
• 36:39
  higher. Did you know there was an
• 36:43
  article out last week that said the Chinese savings rate is 47%?
• 36:49
  That was in two thousand, 2247%. They're keeping their money in
• 36:55
  the bank and then they're saying I don't wanna have it in the
• 36:57
  bank. I wanna have it in something
• 36:59
  real that my grandparents and my great grandparents and my
• 37:02
  parents have taught me about. I wanna have it in something
• 37:05
  like silver and gold. OK, there may be more upside for
• 37:10
  the yellow metal and the silver Yelp metal.
• 37:13
  Chinese households are increasingly confronted by the
• 37:15
  week long, long term Chinese growth outlook and slumping
• 37:19
  prices in China's residential real estate market, Biz Wah has
• 37:22
  said. The economist said those woes
• 37:26
  would continue to drive investors, especially looking
• 37:31
  those looking to boost their retirement savings to gold and
• 37:35
  silver. Excuse me guys, I have a cough
• 37:39
  today. Let's go back here.
• 37:42
  Hopefully you were with me through that.
• 37:44
  Yes, you were. And we're back. 1000 people on a
• 37:50
  Monday morning. Happy Memorial Day, huh?
• 37:54
  Here is a special message from her friend, Coin Shop Chris.
• 37:56
  You know, Coin Shop Chris is somebody you want to listen to
• 38:01
  because he lives in the silver and gold world.
• 38:04
  Trust me, right? I live in it.
• 38:06
  Coin Shop Chris lives. I live in it in this kind of
• 38:09
  Ron's basement way. Coin Shop Chris lives.
• 38:11
  He's talking to people every day out there.
• 38:15
  OK, let me read you a little message that coin shop Chris has
• 38:18
  for you. He says I now see people, are
• 38:21
  you waiting for $24.00 silver? That's what he's seeing, right?
• 38:26
  He hears people saying that they're waiting for $24.00
• 38:28
  silver. He says, well, we're a long way
• 38:31
  from $24.00. He said this last night, by the
• 38:34
  way, let's go out real quick and let's look.
• 38:37
  It could be down. The silver and gold price are
• 38:40
  very volatile. Let's update this and see.
• 38:44
  OK, up a buck 11. Wowzers.
• 38:49
  Woo Hoo. Let's go silver.
• 38:52
  Guys, we have the power. I think it was Rafi Farber.
• 38:56
  I was listening to him a couple days ago.
• 38:58
  He was like, maybe it wasn't Rafi.
• 38:59
  Anyway, somebody was saying we have the power, you have the
• 39:04
  power. This is the power.
• 39:08
  Power to the people. I mean, it really is true.
• 39:11
  And, man, is it beautiful, huh? Isn't it?
• 39:14
  Right. Uh oh.
• 39:16
  Somebody's texting me. All right, hold on here.
• 39:19
  Somebody sent me a text about what's going on.
• 39:21
  We might have some problems. This is from our friend Craig.
• 39:25
  He says 300 likes and some super chats.
• 39:31
  Thank you, Craig. I'll get back to this.
• 39:33
  Wow. Yeah.
• 39:33
  More super chats. Thank you, Craig.
• 39:36
  So guys, guys, here's the deal. OK, here's the deal, right?
• 39:40
  People are waiting for $24.00 silver.
• 39:43
  They're not going to get it that this was yesterday.
• 39:45
  Coin shop. Chris said this before we were
• 39:47
  up a buck. When silver hits 3636 there,
• 39:52
  they will then be waiting for $30.
• 39:56
  You know what he says to you? He says wake up wakey wakey,
• 40:00
  hands off ears, whatever. Wake up people.
• 40:05
  Cost averaging. Do cost averaging.
• 40:07
  Don't worry too much now. When the storm hits, there will
• 40:11
  be nothing left. That's what he sees.
• 40:14
  OK, Nothing left like we had during the, what, 15 months ago?
• 40:20
  There was no silver, no gold. OK, Wait time will be six weeks
• 40:24
  out, if not longer. Not trying to be a silver
• 40:28
  pumper. Coin, Chuck Chris says the tide
• 40:30
  is turning. Turning only buy this is this is
• 40:33
  the big piece of advice. OK, you don't want to get
• 40:38
  yourself do I mean, do you want to get yourself in a bad
• 40:42
  financial situation? OK, and and I'll tell you this
• 40:46
  right now, OK, I'm a silver and gold champ.
• 40:48
  I'll tell you this is when I'll say don't buy silver and gold.
• 40:51
  Don't buy it. Don't buy it.
• 40:54
  OK, if if you can't afford to hold it for a generational
• 40:59
  investment, OK, that's my, my opinion.
• 41:01
  Don't buy it If you don't think you can hold it for three to
• 41:05
  five years, don't buy silver. OK?
• 41:08
  If you think I might need this money to make my rent payment
• 41:13
  next month, don't buy silver. If you're thinking I need this
• 41:17
  money to pay for my beautiful daughter's college tuition in
• 41:22
  three months, OK. Because, guys, I'm a big
• 41:25
  believer, you know, I love silver.
• 41:27
  I love gold, but don't buy it physical physical.
• 41:32
  If you think that you're going to need to convert it back to
• 41:35
  Unicorn fart dust Fiat within a short period of time.
• 41:39
  I would say the minimum that I would look at would be a year.
• 41:42
  I'm not giving financial advice. OK, don't listen to anything I
• 41:45
  say, but there's a reason why and quint shop Chris.
• 41:48
  It drives him crazy because he feels for the he feels for you.
• 41:52
  If you make this mistake, he feels for me, right, Right.
• 41:56
  Do you don't want to go buy like today, if you buy some American
• 42:01
  Silver Eagles and they're probably, I don't know, $38 per
• 42:05
  oz, right? And, and, and then in a month
• 42:08
  you go to sell them back and silver's up $3.
• 42:13
  But that difference between what these guys have to make money
• 42:18
  that run coin shops, OK, the spread between where they buy
• 42:22
  and where they sell, you got to beat that spread before you're
• 42:26
  in the money. So if you bought the Eagles for
• 42:29
  38 and you weren't turned around and tried to sell them the next
• 42:32
  day at the same silver price, you might only get 35, right?
• 42:36
  You then need the you need the silver spot price to go up by
• 42:40
  three dollars or more or the premiums to go up.
• 42:44
  And you know that we're kind of in a good situation with that.
• 42:46
  But just so that's why you don't want to do short term trades
• 42:50
  with physical silver. OK, you don't have to agree with
• 42:53
  me, but I'm telling you that's a fact.
• 42:55
  And coin shop Chris will tell you that's an absolute fact.
• 42:59
  Make sure you're going to hold on to it for a long, long time.
• 43:02
  Hold on here. Let's go over to.
• 43:06
  Hey, Craig. All right, My friend hailed
• 43:09
  that. Yeah.
• 43:10
  Thank you, Craig. Thank you for your help.
• 43:12
  Thank you to the moderators. Here we go.
• 43:14
  You guys want to see some crazy weather from under the rock to
• 43:18
  Ron's basement? The Rip Van.
• 43:19
  The Rip Van Winkles are waking up.
• 43:21
  Yes, baby. Yes, baby.
• 43:23
  So yesterday was my mom's birthday.
• 43:26
  Now I'm gonna ask you a question.
• 43:27
  You have a mom. I have a mommy, right?
• 43:31
  If you love somebody, right. Your mom.
• 43:34
  You love. Everybody loves her mom.
• 43:35
  You're the apple of your mother's eye, right?
• 43:37
  You're always welcome in Ron's basement.
• 43:39
  But remember that whether she's still with us or not.
• 43:41
  Your mother. Nothing.
• 43:42
  No. Your Mama loves you.
• 43:44
  What would you get your Mama for her birthday?
• 43:47
  My mom. I got her a present for her
• 43:49
  birthday. Can you guess what I got her?
• 43:53
  Yes, right. I got her a silver necklace and
• 43:57
  she loves it. OK, I mean, I'm looking at him
• 44:00
  like, I want to get one of those for me.
• 44:01
  And then I asked Susie, I'm like, you want one of those
• 44:03
  really pretty silver necklace. But we went to her birthday
• 44:06
  party, guys, we had a horrible. I'm going to show you this
• 44:09
  video. Hold on a second here.
• 44:11
  I'm going to see if I can turn on the volume.
• 44:16
  Hold on. Let's see.
• 44:17
  That's that. So I'm going to remove that hold
• 44:21
  on, stop screen. OK, well, just stay with me.
• 44:26
  You got to watch this and share screen and entire screen.
• 44:33
  I'm going to turn your volume on.
• 44:36
  I'm going to put my earbud in to see if you can hear this because
• 44:41
  this was scary. All right, OK, here we go.
• 44:54
  Oh, let's go to the Ron's. Hey, there's ball Guy.
• 44:57
  Hey, ball Guy. Good to see you.
• 44:59
  He's one of my favourites. Hold on, Ron's basement.
• 45:07
  How do I get here? Oh, hey, there's our YouTube
• 45:08
  channel. And hey, we're live right now.
• 45:15
  Hold on videos. OK, and we're going down.
• 45:21
  Oh, there he is. Hey, that's the original
• 45:23
  Buttercup. That's my nephew, who everybody
• 45:25
  says looks like this is what happened at my sister's house
• 45:27
  after I gave my mom her silver necklace.
• 45:31
  Probably going to make me. How can Red Pocket Mobile offer
• 45:33
  unlimited talk, text and data plans for $10 a month?
• 45:37
  They don't waste money on celebrity endorsements.
• 45:40
  I've never starred in anything or scored a touch.
• 45:42
  Listen, this is my sister's house.
• 45:48
  It was scary. They.
• 45:50
  Said We went through what was called a hail core.
• 45:55
  A hail core. I think that's what he said, a
• 45:57
  hail core. That's how big the hail was.
• 46:00
  It was scariest day of my life. Here's this is meteorologist
• 46:06
  Matt. All right, Sunday, what, May
• 46:09
  27th. There's our minivan.
• 46:11
  You can't see all the dents. It's got thousands of dents.
• 46:13
  Thousands. We just went through a shitty
• 46:15
  storms like it just started first.
• 46:17
  They said we went through what was called a hail core.
• 46:24
  Hey Buttercup Meteorologist Matt and there he is.
• 46:27
  OK guys, have a great day. Be safe.
• 46:30
  Hopefully you don't go through a hail core like I got like I did.
• 46:34
  Have a great day. OK, and happy Memorial Day.
• 46:38
  Thank you to our sponsors. First Mining Gold and Fortuna
• 46:42
  silver and pin backs with their American flag right there.
• 46:47
  OK, Happy Memorial Day. If you're if you're looking to
• 46:51
  buy some silver, go check out pin backs.
• 46:53
  Have a great day and I'll see you guys soon.
• 46:55
  Thank you.