Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🌀Hurricane!🌀- Silver PRICE Hit by THIS!...(Gold Price Too)

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🌀Hurricane!🌀- Silver PRICE Hit by THIS!...(Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
I believe we're in for a good remainder of the week for the
0:05
silver price and the gold price. I'll explain to you why the
0:10
reasons why in this video. I know it's been a rough couple
0:14
days, but I think we could be in for a good couple days.
0:17
And if it doesn't happen right away, I'll give you even more
0:20
reasons why through the end of the year, I believe we will see
0:24
very strong silver and gold prices.
0:28
We're facing a major storm tomorrow, right?
0:32
There's the hurricane coming through.
0:33
And I'll just briefly say about that.
0:36
Our hearts, our thoughts, prayers, everything go out to
0:39
everyone in Florida who will be dealing with a very difficult
0:43
situation. And no way would I ever make
0:45
light of of what's happening down there.
0:48
It is dangerous. That's serious in our hearts and
0:51
prayers go out to you. But we'll also be facing a major
0:55
storm tomorrow, big news in the precious metals markets and that
0:59
will be the CPI report that will have major impact short term on
1:06
the silver price and gold price. We know what to expect.
1:10
I'm going to, I'm going to give you what to expect tomorrow.
1:13
Expect a unbelievably good report about the inflation
1:19
numbers. Expect that we hear that
1:22
inflation is under control. The reason why we're going to
1:25
hear that is because it's about four weeks before a major
1:28
election and under the best of circumstances, we know that
1:32
those numbers reported by the government are BS and suspect.
1:37
But you can rest assured that tomorrow we're going to see the
1:41
final, the final act of Bidinomics.
1:46
It's working OK. So be prepared.
1:48
That should be very, excuse me, positive for the silver and gold
1:53
price. But you know, the way things
1:55
have been going lately, we never know.
1:57
I suspect we will see a big, big upswing in the precious metals
2:03
through the end of the week. I could definitely be wrong.
2:05
Don't make any financial decisions based on anything I'm
2:08
saying. But I want to go to a viewer
2:10
comment. As you know we read all the
2:12
viewer your comments and I thought this was a good one from
2:15
Paul Johnson. Paul says, I do technical
2:19
analysis and what we had yesterday, this down draft in
2:23
the silver price is just manipulation to create
2:27
liquidity. It will go up.
2:30
It's a technical pattern. No need to be concerned.
2:33
All ahead of the CPI tomorrow. Thank you for that, Paul.
2:38
That makes sense, right? I mean, maybe they're pushing
2:41
silver down here one last time before this massive news comes
2:45
out tomorrow about inflation. It's going to be very
2:48
interesting as we watch what happens in the precious metals
2:52
markets tomorrow. Very, very interesting.
2:54
Let's run out and then I want to tell you a very, very keen
3:00
analysis on why hold on here. Let's get this up.
3:04
There we go. Let's just take a look and get
3:07
a, a, a look at the chart of silver quickly, guys, right?
3:12
Do you see my arrow up there? This is a one year chart of the
3:15
price of silver. This right here is the battle
3:19
zone. I'll draw one quick line because
3:21
I just can't, can't resist getting my crayons out here.
3:25
About right here would be $31.00 silver.
3:31
That's the battle zone. We're a little bit below it
3:33
right now. We get below 30, we get the 28.
3:36
It's still OK. I'm not happy.
3:38
I'm a little worried under $30 per oz.
3:41
However, the key here and this is the futures market is this 31
3:45
dollar level. We talked about this yesterday.
3:47
We fought here now for the third time.
3:51
That's almost statistically impossible that we that we go
3:56
into a fourth fight the 4th time we hit that $31.00 level, $32
4:01
level 3250. A lot of different people have a
4:04
lot of different numbers, but once we get through into the
4:08
$3334 level, we are off to the races.
4:12
Let's look at a long term chart. I just want to quickly point
4:15
this out to you because we forget remember this, OK, that's
4:22
not 2011 $50. Since then we are in a handle of
4:27
the cup and handle which will there's the arrow which will
4:31
result in prices eventually shooting above $50 per oz.
4:37
The other keen thing to look at here is that within this handle
4:43
we have an upside down and inverse head and shoulders
4:46
pattern, which as I see it, what's going on?
4:50
Hold on here guys, gotta get my crayons.
4:52
There we go. As I see it, right, you can see
4:57
shoulder, head, shoulder, and then right across here is the
5:04
neckline. That's an upside down head and
5:07
shoulders pad. Another one of the most popular
5:11
and most predictable patterns. OK.
5:14
And when it breaks out, it breaks out up this way, OK.
5:20
And again, that's embedded within the handle of the cup and
5:23
handle. And if I have this correct,
5:25
typically when it breaks out, you can expect a move about the
5:30
size of this from from the neckline down to the tip of the
5:34
head. So if we draw that, don't make
5:37
any financial decisions based on this, well, that gets us to
5:41
about $38 silver, which we will gladly take, right.
5:45
We know, we know silver is so underpriced, so undervalued
5:49
right now and we know so many reasons why, but it's going to
5:53
come through. I believe it's going to come
5:56
through. It's going to make us basement
5:57
dwellers happy. I forgot about you.
5:59
Yes, you, the most important part.
6:01
Thank you right now for being here.
6:04
Thanks for being part of this group.
6:06
Some of us call ourselves basement dwellers.
6:09
You can call yourself whatever you like.
6:10
The important part is that you're here.
6:12
You're welcome. We want you to come back.
6:15
Please subscribe to the channel. It's free and you can also give
6:19
it a thumbs up. That's free if you decide to
6:21
give a super chat or a super thanks, that's not free and it's
6:25
always much appreciated. Goes a long way to help support
6:28
the channel, but it is never, ever, ever expected and I never,
6:32
ever want anyone to donate any money to our channel that they
6:36
can't afford. But most importantly, thank you
6:39
for being here, baby. OK, so why did the silver price
6:43
and gold price get clobbered yesterday?
6:45
And they're taking a little bit of heat this morning as well.
6:48
We're going to talk about that in just one second, but let's go
6:51
out and do an update on the gold and silver price.
6:55
We'll go to channel sponsor pin backs for that.
6:58
Look at all that red. It is ugly.
7:01
So we will move our finger over to the pin backs magic button.
7:05
That golden triangle there. Come on, pin backs.
7:09
OK, it got better. Silver only down $0.23 still
7:14
above $30 per oz guys and gold holding above 2600.
7:20
Am I the only one? Are you feeling this like,
7:23
please, please, you know, you know, we got more.
7:26
We have people in Florida who are in big, big danger.
7:29
As I say, we're going to pray. We're not going to pray about
7:31
the silver and gold price. We'll pray about the people in
7:33
Florida who are really facing catastrophe.
7:35
But we'll hope and be optimistic, right?
7:38
On a secondary level, they gold can stay above $2600 per oz and
7:43
silver above $30 per oz. Hey guys, want to say thank you
7:47
to channel sponsor Pinbex Pi MB EX Fun to spell, fun to shop
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more fun is when I get a package in the mail from pmbex.
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I know that that package weighs a little bit more than if I
8:03
bought it from one of the other big online bullion dealers.
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Because PMBEX prices are always ultra competitive, a lot of
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8:15
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8:18
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8:23
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8:27
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8:30
silver, the platinum group metals online.
8:33
Find out for yourself, do your own due diligence.
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8:37
I would just say you may benefit from considering them next time
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you're out there looking around, I think you'll find what I
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found, right? It's a company you can trust.
8:46
That's the most important thing. But #2 they got a great
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And if you ever decide, if you ever decide to convert part or
8:58
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precious metals, please talk to the guys at Pembex.
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Compare them to what your other options are.
9:09
I think you'll be shocked. OK, why did the gold and silver
9:13
price get clobbered yesterday? We'll cover that quickly.
9:15
It's so I got clobbered because the Comex, the Crimex and the
9:20
LBMA like to manipulate the price down.
9:25
OK, What was the reason they gave The reason why it went down
9:31
yesterday is because of China. China didn't come through with a
9:35
big stimulus package. You know how it is in the United
9:37
States before the Fed makes their monetary policy, their
9:40
interest rate announcement. Everybody's on pins and needles
9:44
and waiting and and then it happens in the price of
9:47
everything goes crazy. Will the exact same thing
9:48
happened in China yesterday because their government was set
9:52
to make an announcement about the economy and people were
9:55
waiting for an announcement about more stimulus and China no
10:00
come through, okay, no big stimulus.
10:02
And that killed the silver market in particular copper as
10:07
well. Remember, silver and copper have
10:10
become really good buddies lately.
10:12
You know silver is a bipolar metal.
10:15
No, wait a minute. Silver is a schizophrenic metal.
10:17
It has its monetary component, which I think is still the
10:21
stronger of the two long term, but it also has its industrial
10:25
component which recently has been probably more the stronger
10:29
component in determining the silver price.
10:32
So the reason why the silver price got clobbered yesterday,
10:36
because there was no big STEMI in China.
10:38
They'd already done a bit. Their stock market had been up
10:40
like 30%. I don't know, it was crazy, but
10:43
no stimulus came through. So people like, oh, China's not
10:45
going to buy copper or silver anymore.
10:48
They're going to stop. And that destroyed the silver
10:53
price. Let me just read this.
10:54
This is interesting. Just to show you how dramatic
10:57
this move was in China yesterday, I'm going to give you
11:00
this example. Hong Kong Hang Seng Index, also
11:05
known as the HSI, plunged 9.4%, almost 10%.
11:12
We can't round that one up now, can we?
11:13
Buttercup 9%, That's still crazy.
11:16
Its biggest drop since 2008. That was the great financial
11:22
crisis. Its biggest drop?
11:25
The Hang Seng since 2008, as it erased its gains made during the
11:32
Chinese holiday. These Chinese, Have you noticed
11:35
this? I love.
11:37
I was talking to my friend Chen Lin last night.
11:39
He's a PhD doctor, right? Good guy.
11:42
Good guy. Chen Lin.
11:43
Yeah, I called him Chen. He said it's Chen Lin.
11:45
Anyway, he loves gold, Loves silver.
11:47
He's a medical doctor. Anyway, I'm going to have to ask
11:51
him next time. They're always on holiday.
11:53
All you hear about is how hard Chinese people work.
11:55
And then feels like every time I turn around I'm hearing about
11:58
the Chinese on a one week holiday.
12:01
I digress. After economic planner so the
12:04
market dropped. The Hang Zhang dropped 9.4%.
12:10
After economic planner Zhang Sanjiki so told reporters China
12:15
was fully fully confident of achieving economic economic
12:19
targets for 2024 and would pull forward CN¥200 billion, which is
12:26
30 billion U.S. dollars from next year's budget.
12:29
This spend on investment projects but a failure to
12:32
sufficiently detail new or larger measures sparked concerns
12:38
about Beijing's commitment to pull the economy out of its
12:42
current slump. OK, let's go do this.
12:46
Basement dwellers. We need to go on a little field
12:48
trip and we are going to go and check on After all this
12:54
destruction that we had, we're going to go see what the what
12:57
the silver price is in China right now.
13:01
What's happening? Nothing's happening.
13:03
All right, what the heck? Hold on here.
13:06
Oh, boy. Hold on one second, guys.
13:11
I need to reduce the size. There we go.
13:13
All right, let's go out to the Oriental ghost and see if he put
13:16
up today's numbers. Isn't that peaceful?
13:19
That nice lake picture there. Here we go, October 9th.
13:24
Let's look at, I mean, look at this silver is OK, it's back on
13:28
a roll. This is the Shanghai Gold
13:32
Exchange. And I emphasize the high because
13:34
the price is always higher in Shanghai.
13:37
The Shanghai Gold Exchange. This is silver AG.
13:43
OK. And the price in U.S. dollars
13:45
right there, follow my arrow, is $33 per oz.
13:50
Same thing on the Shanghai Futures Exchange, $33 per oz.
13:56
Oh, and look at this, the silver vaults are dropping anyway.
14:01
That's almost a 10% difference between what we have in the
14:06
United States and what is. Thank you, Debbie, for the Super
14:09
sticker. I super appreciate that.
14:12
Thank you. What what's what's crazy and
14:17
it's critical why we watch this price in China for silver,
14:21
because there's a big reason why, and that is because the
14:26
Shanghai Gold Exchange is a physical market.
14:30
Imagine that Buttercup, the Comex, right?
14:33
The Crime AX, the LBMA, the London Million Market
14:37
Association, the LMA in London, England, right.
14:40
Those crooks been manipulating the metals prices for decades.
14:46
That's not a paper market. That's leveraged like 400 to
14:49
one, 100 to one, I don't know, 15 zillion to one.
14:53
It's make believe. It's like if you went on the
14:55
McDonald's app and ordered a Big Mac and showed up to pick it up
14:58
and they're like, oh, we sold that Big Mac to 400 other
15:01
people. Sorry you're late.
15:02
OK. The Shanghai Gold Exchange, it's
15:05
so important for us to keep an eye on that because it is a
15:07
physical market. Imagine that if you want to buy
15:13
or sell something, you got to actually have it.
15:16
Are you kidding me? What are those Chinese people
15:18
thinking? Somebody needs to introduce them
15:23
to the concept of Unicorn fart dust.
15:26
Paper, paper, make believe money.
15:28
I don't know my friend Chen Len, the Chinese guy, great guy, very
15:32
smart, big researcher in medical.
15:35
He I asked him. I said, what about Gold Chen,
15:38
what about silver? Hold on, let's say I have a sip
15:40
of coffee and I'll tell you what Chen Lin said.
15:47
I'll tell you what Chen Lin said.
15:49
Chen Lin said yes, it's crazy popular in China.
15:53
We're getting reports that silver, excuse me, is becoming
15:56
more popular in China. But he said it himself.
16:00
He's like, Ron, the real estate market has crashed, OK?
16:04
The stock market is crazy. I mean, what we saw yesterday,
16:07
Hong Kong, their stock market up 10%, down 10%, whatever, OK.
16:12
And they don't trust banks. Chinese people don't trust
16:15
banks, OK? Not like we do in the United
16:17
States. Whoa, Jim, ask the orinal ghost
16:19
of China pays. Thank you for that super chat.
16:24
Chinese people don't trust banks.
16:26
Americans still trust banks as a whole.
16:29
So it's very important that we keep an eye on what goes on in
16:32
China. Excuse me, Jim, thank you for
16:36
that super chat. Ask the Oriental Ghost if China
16:39
pays a premium over spot. I don't think they pay a
16:43
premium. OK, I will ask him then.
16:45
Thank you for that super chat, as I understand it.
16:49
Yeah. And the other interesting thing
16:50
about China and silver. Thank you, Jim, for that super
16:53
chat, my friend, is that right now they're actually importing
16:59
silver into China because they need so much silver.
17:02
We talked about their electric car industry.
17:05
It's unbelievable. We know what's going on with
17:08
solar, but their electric car industry is like is like blowing
17:13
away Tesla, all the other big electric car.
17:16
They're now they're they're bypassing the Comex, they're
17:20
bypassing the LBMA. They're going directly to places
17:23
like like Mexico, for instance, and buying the OR buying the
17:27
doorway bars directly and bypassing them all together,
17:32
bypassing the traditional seats of power, the comex in the LBMA
17:37
who traditionally basically controlled the price of silver.
17:41
Let's look at this. Let's go on guys.
17:43
Massive bricks meeting in two weeks, 2 weeks.
17:47
We could have cataclysmic monetary system, financial
17:53
system news could OK, there's there's speculation.
17:57
Some people say it's a done deal.
17:59
Some people say you're crazy. I'm somewhere in the middle, but
18:03
with it's AI will say is an absolute fact that we could get
18:06
cataclysmic like gold standard gold backed currency news out of
18:12
this massive BRICS meeting in Russia and get this this popped
18:17
on my radar last night. I mean when does it end?
18:22
Here we go just then. This is from the BRICS news.
18:26
Cuba officially applies to join Bricks as a partner country.
18:31
I mean, everyone is applying to join.
18:34
And I was. It's all this hurricane stuff is
18:36
going on. I'm sure you're seeing the maps
18:38
like I am. And I keep seeing Cuba and I'm
18:41
like, nobody talks about Cuba like nobody.
18:44
Everybody just like we forget the Cuba even exists and it's a
18:47
pretty big country right off the coast of Florida and it's just
18:51
been forgotten about. OK, now I don't know if I should
18:55
show this or not. I am in no way making light of
18:58
the situation that's going on with the hurricane in Florida,
19:01
but I'm just reporting something.
19:04
This is not news, but something that was I just found very
19:09
clever and very interesting cuz people are complaining about the
19:12
federal government's ability to respond to all these major
19:15
crisis. So I saw this and I just, I had
19:19
to share it because I think it's, it talks and speaks to
19:23
the, the, the, the anger and divide that's in our country
19:28
right now because Florida's typically a very Republican
19:31
state. This is on from from who put
19:34
this out, not Jerome Powell, Not Jerome Powell put this out
19:38
Breaking Florida is going to change its name to Ukraine to
19:41
receive faster aid from the federal government.
19:45
That's the mood of the country right now.
19:48
And I think that speaks to kind of the social mood and we know
19:52
the political mood in the country.
19:54
A lot of uncertainty, a lot of a lot of social.
20:00
Dislike and you know the one of the reasons why because of
20:04
potential issues that might come about at some point in the
20:07
future, one of the reasons why we own silver and gold.
20:10
So I just wanted to show that one what about project in
20:14
bridge? What about central bank digital
20:18
currencies? We got some news and some very
20:20
interesting statistics about gold and how it relates to the
20:26
the central bank digital currency that some of the major
20:29
countries of the world are developing to work amongst
20:32
themselves. Let's dig into this one.
20:34
It's not too technical, but the reason why we want to pay
20:37
attention to this is because we know, we know what's coming with
20:42
CBD CS, and we know what that could mean for gold and silver.
20:47
But is there a, a, a reason why as a gold and silver investor,
20:51
we want to pay a particular attention to what's going on
20:54
right now. The rise of gold to the
20:56
detriment, the rise of gold to the detriment of the dollar and
21:01
global reserves is inescapable. So gold is going to rise and the
21:09
dollar is falling. That's from, I can never say his
21:12
name, Neiwen, who's it's an article from Kitco by Ernest
21:16
Hoffman. There's your gold stack.
21:19
OK, the five countries, this is about the Enbridge.
21:22
This is the the the CBDC system. Well, you're going to learn all
21:25
about it in three easy sentences.
21:27
The five countries using the Enbridge International payment
21:31
system are also the ones who've been driving gold's price
21:35
appreciation over the last few years.
21:38
So this Enbridge system is an electronic payment system that's
21:42
being developed among some of the world's biggest countries.
21:44
But wait till you hear who's behind it.
21:47
And those countries are the ones who are driving interesting.
21:51
No connection there is there driving the gold price higher.
21:53
That affects the silver market as well, says.
21:56
And this could have major implications for the US dollar
22:00
going forward. That's from John Newman House.
22:03
He's a gold analyst with Money Metals.
22:05
Quote Countries that participate in the novel cross-border
22:10
payment system Enbridge are each hoarding gold, hoarding gold and
22:16
are largely responsible for the bull market of the past two
22:21
years. OK, this is where it gets
22:23
interesting. The Enbridge international
22:25
Payment system was launched in 2021 by the Hong Kong innovation
22:30
hub of pay attention to this the Bank for International
22:35
settlements, the BIS. Remember guys, the BIS is the
22:39
central Bank of the world central banks.
22:44
It's the central bank above the Fed, it's the central bank above
22:48
the the European Central Bank of the Bank of Japan.
22:52
Of all, it's the central Bank of the central banks and they're
22:56
behind this. Thailand, China, Hong Kong,
22:59
Saudi Arabia and the United Arab Emirates are the fivefold
23:03
members, but the Enbridge system also has over 30 observing
23:09
members now buried in this. I made it in purple and
23:12
highlighted. I want you to pay attention to
23:14
this. The project aims to create a
23:17
multi central bank digital currency platform.
23:22
CBDC central bank digital currency but a multi central
23:29
bank digital currency. So this is like the plumbing
23:32
above the central Bank of above. The CBDC for participating
23:37
central banks and commercial banks builds on a distributed
23:41
Ledger to enable instant cross-border payments and
23:45
settlements. It says Enbridge uses ADLT
23:48
network and the Enbridge Ledger developed by.
23:52
So who's behind this? China's Digital Currency
23:55
Research Institute, China's CBDC organization because China
24:00
overseas the backbone of the technology.
24:04
This is important. It is immune to Western
24:09
sanctions. OK, Now let's go down here
24:12
quickly and look at this chart. This shows the amount of gold in
24:19
bridge participants, net gold imports, net, right, gold
24:23
imports. And these are the countries
24:25
China, Thailand, Saudi Arabia, Hong Kong.
24:28
OK, look, since when? Since about 2021 when they
24:32
started this, look at the amount of gold those countries have
24:37
been buying, right? It's a big, big deal because
24:41
this is being built outside of the United States, outside right
24:47
of the G7, outside of NATO. I guess you could even say these
24:52
countries, these are, these are bricks oriented countries.
24:56
I don't know if they're all bricks countries officially, but
24:58
they're developing their own CBDC that's being handled at a
25:03
large central bank level and with the large banks.
25:08
It has really 2 two reasons why it's important.
25:12
Number one, it it is, it is a, a, a clear manifestation of de
25:17
dollarization. The move away from the dollar in
25:20
the world, OK, which is a big deal because that will make the
25:24
value of the dollar go down, which will create more
25:28
inflation. You've heard that thing of
25:29
dollars coming flooding back to the United States could cause
25:33
massive inflation, dare I say, hyperinflation, which will push
25:38
up the price of gold and silver, right?
25:41
And #2 China is behind this, OK? This is big, big news, big
25:46
things that we need to keep keep our eye on.
25:48
On top of that, we've got this big bricks meeting in two weeks,
25:53
2 weeks, 2 weeks, guys, right, in Russia, a massive meeting of
25:59
the BRICS countries. Who knows what we're going to
26:02
hear from that. All right?
26:03
We won't go down that road again.
26:04
But these next few and we have an election in this country and
26:08
we're getting hit by the worst hurricane like in the history of
26:11
the world. We need to take a breath, right?
26:16
OK, let's let's all take a second here.
26:18
Have a quick sip of coffee and we're going to go into some very
26:21
interesting data that's going to have a major impact on the
26:25
silver price and the gold price. OK guys, I think this is
26:35
absolutely genius and points us in the definite direction of
26:41
what we have coming. This guy his name's Gratty on on
26:45
Twitter wrote something that I think just absolutely sums up
26:49
the situation that we are right now.
26:51
He says inflation guys, inflation.
26:54
Let me look at you for a second. Let's get back here basement
26:57
dwellers. And again, thank you for being
26:58
here. I see you it's a big deal.
27:00
You're here you're welcome here. You're part of the club
27:02
inflation that's going to be two 2025.
27:06
I'm going to try to keep my mouth shut up on it for a while
27:08
here, but inflation is going to be is going to rule the day as
27:13
we move into 2025 and it will have a monstrous it's October,
27:19
we can use that word monstrous, monstrous impact on the price of
27:24
precious metals. Inflation, inflation, it is
27:28
happening, it's going to happen. The Fed is going to monetize the
27:31
debt, print money 2025 and beyond be ready.
27:36
OK Interest rates are already going back up.
27:39
The the 10 year bond I think went above 4%.
27:42
We are going to have money printing at an epic scale in
27:46
this country. It is unavoidable.
27:48
It is a mathematical certainty. I could be wrong, but I'm
27:52
usually not and I'm very confident on that one.
27:55
There's as long as my calculator, my old handy dandy
27:59
Texas instrument is working, it's inevitable and in the
28:02
calculator is working. So be prepared mentally,
28:07
monetarily. We talked about the M&M's,
28:10
right? We aren't talking about crunchy
28:12
chocolate coated whatever M&M's that candy.
28:15
We're talking about being prepared in two ways, monetarily
28:19
and mentally. OK, I'll leave that up to you in
28:23
terms of how you want to want to prepare.
28:25
But I, I prepare with precious metals and I think we're going
28:29
to have NBN for some massive inflation and probably some
28:33
crazy moves within the precious metals markets.
28:40
Let's get back to Grady. He, this is probably one of the
28:42
most genius couple sentences I've ever read.
28:46
Inflation is normally a sign of increasing demand and a
28:50
reasonably healthy economy. The inflation that we're getting
28:55
now is not, it is grounded in debt and a currency debasement
29:02
war, OK. The inflation that we're having
29:05
guys, is not based on the the economy overheating.
29:10
It's based on the debt. It's based on the currency
29:14
debasement war. I'm sorry I had to repeat it,
29:17
but he said that not me. Hard assets is the way to go.
29:21
He says in all capitals, do not miss the commodities bowl as it
29:25
will literally save your life. I thought that was just genius
29:32
part of insight. We forget to talk about that.
29:34
Inflation is going to drive the price of precious metals.
29:37
Inflation itself is not being driven on a booming economy.
29:44
Wait till you hear about the the big bass boat manufacturer.
29:46
I'm going to tell you about later.
29:48
OK, It's it's the economy is in trouble, right?
29:52
We have this right a box. Remember quickly, we'll make a 2
29:57
second appearance. Hello everyone, that's Jerome
30:00
Powell. We have inflation on one side
30:02
and recession on the other. Inflation is being driven, OK,
30:08
because of the debt, because of the gosh darn national debt.
30:13
That's it, right? And we're in the middle of a
30:15
currency war in this world, right?
30:18
It's it's not driven by a healthy economy.
30:21
That is critical to understand. And it's unfortunately, in my
30:25
opinion, don't make any financial decisions based on
30:28
anything that I share with you today.
30:30
But in my opinion, it's not going to get better.
30:33
It's not going to get better. It's a Whirlpool, it's a spiral
30:37
and it is big, big trouble. OK, Now the same guy, boy, he's
30:43
a popular, he's popular with us here in the basement today
30:47
brings up this and I thought this was also epic.
30:51
He said five trading days ago, this guy predicted what was
30:54
going to happen yesterday and and today 5 five trading days
31:00
ago, he said that quote. And now let's see if silver
31:02
needs a daily cycle decline pink route before it breaks out above
31:08
3277 level for a move the somewhere between $35 and
31:14
$42.00. Today's silver drop following
31:17
the pink route miners are holding.
31:19
Yeah, this the mining stocks did well yesterday.
31:21
But this is his chart, OK? And this is where he pretty
31:25
predicted this to happen. This is what happened yesterday.
31:28
It is it is really critical, right that we stay above this
31:33
$30 level. I think we will, you know, I
31:37
think tomorrow and Friday and again, guys, it's just my
31:40
thoughts. Just my, you know, I'm usually
31:43
right, but I'm often wrong. I think tomorrow and Friday
31:46
could be good days. We're either going to be, I'll
31:49
tell you right now, be prepared. And this is what he sees as
31:52
bouncing and bouncing quickly. I don't always make predictions,
31:57
but I will make this prediction for you right now.
32:01
I will be shocked if on Saturday, right after the weekly
32:07
close on the gold and silver market on Saturday, we're I'll
32:11
be shocked if we have silver around $30.00 an ounce.
32:14
We're either going to have silver above 32 on Saturday or
32:20
maybe, and I think this is less likely, but I'm not going to
32:25
sugarcoat it, approaching $28.00 per oz, 2850 per oz, one of
32:31
those two. We aren't going to stay where we
32:33
are over the next two days. Just my thoughts, don't make
32:37
any. Again, I could be wrong, but we
32:40
are at a real period. There's a lot of stored up
32:42
energy. Something big is going to happen
32:46
in the next two days. OK, I'm leaning toward it going
32:50
higher, right? What do you think?
32:53
What do you let? Let me ask you put it in the
32:54
comments, it's important. Do you think, do you think on
32:58
Saturday, today's Wednesday? So we got the rest of today,
33:01
Thursday, Friday. Do you think that we're going to
33:05
be higher in, in silver and gold on Saturday or lower?
33:09
OK, I'm going to say higher. You don't have to agree with me,
33:14
just curious what you guys, what you guys think.
33:17
Jake says higher. Thank you, Jake.
33:19
Jake's number one baby. Jake's number one.
33:21
In a lot of ways, Jake from Jake's Custom Parts is a
33:24
critical support person. A critical, not support person.
33:28
That's not the right word. A critical component fellow
33:31
basement dweller puts in a lot of work moderating.
33:35
Thank you, Jake. So does Annie Oakley.
33:37
Thank you, Annie, the one and only Annie Oakley.
33:39
And so does Big Tim the Silvershire when he's available.
33:42
You know, we all are busy, but thank you to all the moderators
33:45
and, of course, Siller. Silver, silly silver, Susie,
33:48
silly Susie. Higher, higher.
33:51
Wow, by now and later going to be higher, going to be higher.
33:56
Oh, that makes me higher than positive.
33:58
Why? We are a positive group,
34:00
basement dwellers. Look at that lower Dwight.
34:03
All right, Dwight, let's hope Dwight is not right because
34:06
Dwight says lower. But thank you for your input,
34:09
Mr. Dwight. By the way, I almost forgot
34:12
here. I got chewed out by one of the
34:14
subscribe. I got chewed out a lot yesterday
34:17
because I said $700.00 silver in my thumbnail, which was the
34:20
ratio, the dollar to silver ratio.
34:23
I caught a lot of heat from the from the community, not you
34:27
guys, but some people out there in the YouTube world.
34:30
Let's take a look at this. Here we go, Gerald.
34:34
Gerald says Ron, this was yesterday.
34:36
When the silver price goes down, you think of silver as ounces,
34:41
but when it goes up in price, you think of it as dollars.
34:45
You need to get your stuff together buddy.
34:49
When the silver price goes down like this, I'm happy as a clam.
34:53
Well, that's good to hear because I can buy a lot more
34:56
period. Well, yes, you know, he has a
34:59
point there. And I and I full that, right,
35:07
like I do. And I say that like we're all I,
35:10
we all fall, don't we all fall victim to this thinking of our
35:13
silver in terms of dollars. But that is very fundamental,
35:17
Gerald, and it's very fundamental level.
35:19
I will argue with you, OK, that you're not right to a certain
35:24
degree because I at a very fundamental base core level.
35:30
And I wonder how you, my fellow basement dwellers feel about
35:32
this. I know in my heart in my deep
35:36
that what when I own silver, if I own gold, what I own are
35:41
ounces of value. I know it's timeless.
35:44
I know it's universal. So yes, in the short term from a
35:49
noise perspective, absolutely I can make that.
35:52
But you know, it's, it's the, it's, it's outside of just
35:55
ounces. Talking about it in terms of
35:58
dollars is the next more most popular unit of measure.
36:02
I firmly believe I told Susie the other day yesterday because
36:06
she was upset, you know, we were getting people were like saying,
36:09
oh, you're a clown. You say 7.
36:11
I'm like, I didn't say $700.00. I said $700.00 silver.
36:14
I did say that, but I said that's the ratio.
36:16
But I told her, you know, I said I believe, I actually do believe
36:21
that we will see in my lifetime $700.00 silver.
36:24
I think we could see $7000 silver.
36:27
Sure, a loaf of bread is going to cost 150 bucks.
36:30
I'm aware of that. But I do believe that both from
36:33
a nominal a numbers perspective, we will see unbelievable silver
36:37
prices in our lifetime in our future.
36:41
I also believe that in terms of real value, right, that the
36:45
price, the value, the real value of silver will go up as well.
36:49
Meaning, you know, we might reach a circumstance where, I
36:55
don't know for 1000 ounces of silver, you could buy yourself a
36:59
really nice house. I know some people say 100 oz
37:03
maybe, right, but I'll say like maybe for 1000 oz or or or
37:08
possibly very plausible that we'll be in a situation where
37:11
you could take 1000 ounces of silver and buy yourself a house
37:15
that maybe right now is selling for 304 hundred $500,000.
37:20
Yes, yes, yeah. I believe that can happen,
37:23
right. Some people will say 100 oz and
37:26
I guess if it things get really extreme and that's what I mean
37:29
by real value that the real value cuz right now, I mean,
37:34
what's that? Well, a house like that would
37:36
cost what, 10,000 ounces of silver, right?
37:39
Ten yeah, 10,000 I think we get right now to buy a $300,000
37:44
house, it would cost you about 10,000 ounces of silver in the
37:48
future, right? While some people say it might
37:51
say it could like, and in the past this has happened, it could
37:54
get as low as 100 oz. I'll say realistically I think
37:59
we could see a situation wherever 1000 oz you could buy
38:02
yourself a nice little house, right?
38:04
And when these situations happen, right when you know,
38:08
that's, that's what you want to, if you do want to convert some
38:10
of your metal, you know, and capitalize, that's the type of
38:14
thing you want to do. You don't want to convert your
38:16
metal into more paper money because if the paper money is
38:19
losing value at that festival rate, it's very likely to
38:23
continue losing its value even further.
38:26
Just talk to anyone who's lived in Zimbabwe or Venezuela, right?
38:30
I know Venezuelans, they come clean my office, I have a little
38:33
night time job. They come in, they're wonderful.
38:35
There's three of them. They emigrated here from, from,
38:38
from Venezuela. They'll tell you.
38:41
They'll tell me all the time, right?
38:43
They love silver and gold. Trust me.
38:46
All right? And they'll tell you money,
38:48
right? Paper money can lose its value
38:51
at a very, very, very fast rate. Talk about.
39:07
Let's go out. Uh oh.
39:09
Am I on? I think I'm on.
39:11
Can you guys hear me? Give me a 5 by 5.
39:13
Oh, boy. Hopefully I didn't just have my
39:16
microphone off. Hello.
39:17
Hello. All right, Ken, I think that
39:20
means yes. You can hear me.
39:22
Hopefully we're still alive here.
39:24
Hello. All right.
39:25
OK, thank you. Let's go out.
39:29
Let's have courage, take our blood pressure medicine, take a
39:32
deep breath, let's see what's happening.
39:34
I have a feeling either it's going to be a lot better or a
39:36
lot worse. And we are down 27 cents, OK,
39:41
Hopefully stabilizing here a little bit within the silver
39:44
market. Let's stay above $30.00.
39:49
The reason why we want silver to stay above $30.00, right?
39:53
That's a key psychological level.
39:56
So as we move through the rest of the day, as we move through
39:59
the rest of the week, and remember, I'm expecting that
40:02
we're going to be sitting here Saturday morning talking about
40:04
$3233 silver again. And that will be the final push,
40:09
right? The breakthrough, the triple
40:12
top, quadruple top, whatever the heck it is, let's get over.
40:15
Let's get through it already. My God, let's get over with it.
40:19
Let's get it over with, OK? I didn't have time to confirm
40:23
this next one, but this was astounding.
40:29
Came from a guy named Nostra the House of Gold.
40:33
He says that Citibank says physical silver owners need to
40:37
sell 1% of their physical holdings per month to meet the
40:42
excess demand. Now, like I said, I was, I
40:45
didn't have time to dig in and confirm this, but but what this
40:50
guy is saying is that city is saying that basically, guys, we
40:53
have a massive, I mean massive silver deficit.
41:00
Excuse me, in the world right now, a big, big problem.
41:04
There's so much more silver being demanded that's being
41:08
supplied and the supplies shrinking.
41:10
We've talked about that ad nauseam.
41:12
So apparently Citibank is saying that if we want prices to stay
41:16
roughly where they are, then you silver stackers are going to
41:19
have to get rid of 1% of your stack per year.
41:21
That's not happening. Not here.
41:24
We're going to be adding. We're going to be adding to our
41:27
stack, right? We're not going to be getting
41:29
rid of it. Oh, boy.
41:31
OK, this is another good one. I got to share this one with
41:34
you. This is this I thought was
41:37
genius. There's Tom Hanks and let me
41:43
pull this up. What's it say there?
41:45
This was great. And just like that, the
41:49
government started. This is the 1960s.
41:52
And just like that, the government started using silver
41:55
for guided missiles instead of sound money.
42:00
This was talking about when they took silver out of the money,
42:03
basically what 1964 was the last year.
42:06
And think about that. Isn't that true, right?
42:08
The unfortunately that if we look back over those 50 years,
42:13
they definitely did take silver out of our money, our sound
42:16
money. That had worked very well.
42:19
It worked really well, guys. Look at how great America did up
42:24
until that 1970 period. They took silver out of the
42:27
money and started putting it into things like missiles.
42:32
Unfortunately, I thought that was very sane.
42:35
And again, we've been talking about this recently.
42:39
Nobody knows and nobody's really ever going to know because it's
42:43
tightly held secret, I guess you would say, how much silver is
42:47
actually being used by the military industrial complex.
42:50
You you hear from what I would say are some good reliable
42:54
sources that there's 500 oz. And the tip of each Tomahawk
42:59
missile. That's generally been accepted
43:02
as being true as of late, right? But in terms of other military
43:07
applications, we just don't know.
43:09
And right now, right, despite the fact that most of the
43:12
American public, the oh, I can't do my sheep today, sheep all
43:18
don't realize it. We are in the middle of two big
43:21
wars. OK, it's a big deal.
43:23
There's big wars going on in our world right now which are
43:25
consuming massive, a massive amounts of silver.
43:30
I didn't realize this is another piece.
43:34
It just keeps coming. I'm sorry.
43:37
Few more quick things to cover here and more on this.
43:41
We're going to spend a little bit of time on this from Zero
43:43
Heads Costco. Again, gold bars are selling out
43:47
even as prices surge. But what's interesting about
43:51
this, here's a couple coming out of Costco.
43:54
They're all masked up. What do you think he's saying to
43:58
her? Honey, where'd you put the gold
44:00
bar? Well, I don't know.
44:01
I think it's down there on the lower rack next to the diapers.
44:06
I thought you had the gold bar. No, it's, it's down there with
44:09
our toilet paper. Anyway, around 77% of Costco
44:15
outlets that sell bullion bars were sold out in the first week
44:22
of October. Guys, that was last week.
44:25
Almost 80% out of four out of five of the Costco outlets that
44:30
sell bullion bars, 4 out of five of them were out.
44:34
OK, here, let's see if we click on this Mercury News.
44:39
Oh boy, let's see here. Here we go.
44:45
Costco's gold bars flying off the shelves as they smash
44:48
records. So apparently this was a, a, a
44:54
survey that was conducted by Bloomberg.
44:57
OK, that basically says the gold is gone.
45:00
I mean, again, these are newbies for the most part.
45:03
These are not professional stackers like you, right?
45:06
These are people who are just, and that's great.
45:09
I, I view Costco as a gateway, right?
45:12
Like the, like Saint Louis is the gateway to the West.
45:14
We have the big arch, right? It's the gateway for people that
45:17
were entering the Western United States.
45:20
Costco is a gateway. Sorry, I have a scratchy throat
45:27
this morning. Costco is a gateway for people
45:30
to enter the, the, the sound money movement, the real money
45:34
movement, a gateway for people who want to get into silver and
45:38
gold, right? And when they realize that, hey,
45:41
this is pretty cool, they're going to move on.
45:43
They're going to move on to the to the specialist.
45:46
They're not going to want to be pushing their Costco card out
45:48
and say, honey, do you have the gold bar?
45:50
Do you have the platinum bar? Do you have that tube of silver
45:52
Eagles we bought? No, they're going to want to get
45:54
it from specialist companies like the big established online
45:59
bullion dealers, one of which is channel sponsor pin backs.
46:02
So all you new Costco people, do yourself a favor and check out
46:06
pin backs if you're looking to get yourself on your hands on
46:09
some precious metals. What other big news?
46:12
We have more big news. It just never stops.
46:16
Why is this a big story? OK, this is from Reuters.
46:21
China's XI Jin mining to buy Newmont's Ghana gold project for
46:26
1 billion U.S. dollars. The reason why this is important
46:36
is it shows the mad rush around the world to get all the gold.
46:42
China is paying a billion, yes, 1 billion U.S. dollars to buy
46:48
this project from Newmont in Africa.
46:54
So we'll keep an eye on that. We're not going to dig into the
46:56
details of that. The reason why I, I think it's
46:59
important for us to remember are to to look at what's happening
47:04
with this throughout the world is whether or not you're
47:07
invested in mining stocks. This, this demonstrates to us
47:11
again that these bricks countries are on a mad dash.
47:14
Why do you think China, right? Is what the, China wants the
47:18
gold, right? So they're buying the gold
47:22
mines, right? And then that they keep all the
47:25
gold. Remember here, let's look at
47:27
this. Remember this about China when
47:29
it comes to gold here, this is a very interesting slide.
47:37
This shows us and when no uncertain terms, this is China
47:41
over on the right, OK, The white shaded part is the gold
47:47
consumption. That's that's the amount of gold
47:49
that they that the country consumes every year, buys,
47:52
brings in. However you want to think about
47:54
it, the little yellow part is their domestic production, their
47:58
domestic supply, the amount that they're able to produce
48:01
internally. China consumes well over 2 times
48:06
as much gold annually as they produce.
48:10
So that that 1 billion that's going to add a little bit over
48:14
here, right? It, it shows the, the reason why
48:18
I wanted to show you that articles, it shows the mad rush
48:21
on a very large scale country scale, geopolitical scale rush.
48:27
It's not just dads going to Costco to buy gold bars.
48:30
It's China at the $1 billion level going to Africa to buy
48:36
gold mines. And China is very, is, is is
48:39
generally very well liked within Africa.
48:42
Whereas unfortunately, some of the countries aren't very fond
48:46
of of not all of them, but some of the countries are not very
48:49
fond of Western governments. Guys, just briefly, we look on
48:53
the left there, that's India. Look at that.
48:56
India consumes 750 tons of gold per year and they only produce
49:01
15 tons. Are you kidding me?
49:05
I mean, it is just absolutely crazy.
49:09
We've talked about this very, you know, we talk a lot about
49:14
silver. We love our silver.
49:16
We've talked about this idea that silver is the new oil.
49:21
What would that mean? Why is that important?
49:24
Silver is the new oil because 100 years ago, right, oil was
49:29
just becoming popular, I guess you could say, useful on a very
49:33
large scale in the world. And it ushered in a century of
49:38
development, right? Engines, machines,
49:42
industrialization, oil. Oil really drove the last 100
49:47
years. But now what would it mean and
49:50
why is it important that silver could be the new oil of the next
49:56
100 years, right? Because of things like energy
49:59
generation, solar, right, 200 million ounces of silver being
50:04
over, I mean, being consumed by the solar industry, electric
50:07
vehicles, unbelievable amounts of silver being demanded in a
50:12
crazy, crazy growing electric vehicle market, in particular in
50:17
China. But just to give you an idea of
50:22
how big this could be, if indeed silver does wind up becoming the
50:29
new oil, let's take a look at this.
50:31
What a great chart. This shows how big is the oil
50:35
market. OK, there's crude oil.
50:37
And right now still granted, yes, crude oil is the lifeblood
50:41
of the world economy. It's 2.1 trillion.
50:45
OK, just to give you an idea, that is 10 times the size of the
50:51
world's of the global gold market.
50:55
But what about silver? You got to put your glasses on
50:57
and look really close. If you look down on the lower
51:00
left hand side, underneath crude oil, you can see up right below
51:05
it. You see nickel, zinc, and then
51:07
you see silver. If I'm correct, that says 20
51:11
billion. It's even hard for me to read
51:13
that. So, yeah, the silver market's
51:14
worth about $20 billion. Now, that makes it only one
51:21
100th the size of the crude oil market.
51:27
Look at copper, the copper market, right, 10 times bigger,
51:30
like gold, aluminum. I mean, guys, what this means
51:35
and the reason why this is so important for us, those of us
51:38
who are, let's say, have a keen interest, do you have a keen
51:42
interest in the price of silver? I do, yes.
51:45
I count it. I value it for its oz.
51:47
But I also would like to see the price valued in Unicorn fart.
51:51
Does Fiat U.S. dollars go higher and higher?
51:54
What this shows us is how tiny the silver market is, how
52:00
fragile, how delicate, how much room.
52:03
And this is the this is the best thing in the world right?
52:07
If you want to be invested in something.
52:10
Just my opinion, not giving financial advice, but if you
52:14
want to be invested in something, don't you want to be
52:17
invested in something that has massive room for growth, right?
52:22
That that hasn't already become huge.
52:25
And silver to me feels, feels just just strategically
52:29
positioned to be in a place for that to happen.
52:33
OK, It's a very, very interesting situation.
52:37
Now let's shift back to the US economy briefly, because all
52:42
indications are that we receive from our government that the
52:46
economy is doing great, right? Janet Yellen, everybody talks
52:50
about soft landings this and that.
52:52
The economy is strong, the GDP is growing, unemployment is low.
52:56
And tomorrow, right, which will be one of the biggest days of
53:00
the year for the history of the precious metals prices.
53:04
We're going to hear how inflation is down.
53:07
That's my prediction. I'll, I'll, I'll eat crow
53:11
tomorrow if I'm wrong, but we're going to get just shocking good
53:16
inflation news. At minimum, it's going to be
53:19
what they're expecting, but I'm expecting the inflation number,
53:22
official inflation number, right?
53:25
There's this thing called shadow stats, which which tracks the
53:28
real inflation number, but the official number that are trusted
53:31
government servants, servants will provide to us will be
53:34
shockingly good. OK, the economy is great, but
53:38
you know, every year I'm going to tell you a little story.
53:42
We every, every usually over spring break, we go to this
53:44
place called Branson, MO. It's wonderful, it's fun, it's a
53:47
great place, great family place, right?
53:49
I don't drink party anymore. So it's so much fun to go there
53:52
to the girls, it's family, it's wonderful.
53:54
It's about 5 hours, four hours from Saint Louis.
53:57
As I'm driving there. We drive through like
53:59
Springfield, MO and then you drive through.
54:01
That's where Bass Pro shocking news from Bass Pro Bass pro
54:06
shops. I don't like Bass Pro shops
54:08
because we've got, every time I go on one, I feel like it's very
54:11
overpriced, to be honest with you.
54:13
But anyway, we drive through and that's where Bass Pros from and
54:16
they have, they own like boat manufacturing, bass boat,
54:20
pontoon boats, all that. And you drive through, I think
54:23
it's on Hwy. 44. Anyway, this area where it's
54:26
just unbelievable, these boat factories and out in these
54:31
fields you see nothing but boat after boat after boat.
54:35
I mean, thousands of boats in a field, OK, they're not in the
54:39
water. They're they're brand new boats
54:41
and they're wrapped in that white plastic wrap.
54:43
And I'm like, this year we drove by and I was like, I never seen
54:46
so many boats. I tell you what, if the great
54:48
flood comes, I know where I'm coming, I'm going to grab one of
54:51
these boats. It was incredible.
54:53
But I kept thinking like, there's no way.
54:56
The average American, the middle class American, the guy that you
55:01
know, the guy or the wife that's a school teacher and he works
55:03
for the electric company or whatever.
55:05
It's getting to the point that people can't afford because the
55:09
economy stinks. And sure enough, listen to this.
55:12
I saw this this morning. This comes from our friends at
55:16
the at the Lakefront Living No Lake Expo.
55:23
Anyway, Bass Pro slashes manufacturing jobs siding
55:28
inflation tracker marine in Lebanon hit hard.
55:33
So they're saying it's and that's what I drive by.
55:35
I see that that big bass pro It says Bass Pro laid off around
55:45
100 workers at its manufacturing plants this year, primarily a
55:50
Tracker Marine in Lebanon. One of the employees who was
55:54
laid off said the firings came out of the blue Bass Pros marine
56:01
manufacturing division division White River Marine Group
56:05
manufacturers and distributes Tracker amongst others like
56:09
Ranger and Tahoe brand boats. In April, KY Three reported that
56:15
85 employees were let go of the Lebanon location because of the
56:19
downturn in product sales. That was followed by another
56:23
round of layoffs in August. And they're laying more people
56:25
off. Think about this, who can
56:27
afford? And they're saying it's because
56:29
of inflation. Who who can afford, right?
56:34
Your typical bass, bass boat type person, They can't afford
56:39
it anymore. It's the same thing with RV's.
56:41
The RV industry, I understand has crashed.
56:44
You want to buy an RV? Trust me, you can get a real
56:47
good deal right now, right? In particular compared to four
56:51
years ago when it was like crazy because we were all locked up
56:54
and people wanted to bring their hotel anyway, this economy is in
56:58
big trouble. That's my opinion, right?
57:01
It's it's, it's still being held together with some bubble gum
57:04
and duct tape. And I think absolutely for the
57:06
next at least month or two as we get through this election,
57:10
they'll do do everything they can.
57:12
Maybe we were wrong thinking 2024 was going to be the year of
57:16
some big events. It sure feels like they kicked
57:21
the can down the road a little further and the 2025 could prove
57:25
to be very, very crazy. Hey, guys, thanks for being
57:29
here. Have a great day.
57:30
Thanks again to all the moderators.
57:31
Thanks for the Super chats. Did I miss 1?
57:34
Jim, thank you again for your super generosity, Debbie.
57:37
Thank you, Silver Ghost. I think I missed that one,
57:41
didn't I? Russia's buying silver.
57:44
Yes. Yeah, Yeah, We talked about that
57:46
last week. What does it mean that a
57:49
government is buying silver? Hey, guys.
57:52
Have a great day. Thanks for being part of the
57:54
basement. Thank you for your help.
57:55
OK. And and I will talk to you soon.
57:58
Jim. Jim, if you're still here, that
58:00
question about China, I do believe that the, oh, what's it
58:06
called? Darn it, there's a name for
58:08
their website, their version of Amazon in China.
58:12
Like we have Amazon and they don't have Amazon.
58:14
They have another one. I forget the name of it, but
58:18
they do charge a premium to retail investors for silver.
58:22
All right, guys. Have a great day.