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**ALERT** China's CRAZY Gold Situation...and Silver too? · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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  We have some very interesting developments in the gold market,
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  in the silver market, but in particular with what is going on
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  at Costco and China. And we're going to talk about
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  that in this video. Thank you, Justin, for letting
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  me know that we have super chats.
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  Thank you. Thank you.
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  I was just wondering if it was still available.
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  So I appreciate that. All right, everybody, hold on.
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  We're going to start over and we're going to have the best
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  live stream in the history of the universe, you and me.
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  And we're going to do it right now.
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  I'm going to stay on track and I got some very interesting things
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  to talk about. Silver and gold investors, you
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  need to pay attention to what's going on in China.
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  Also Costco, there's some super interesting developments.
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  I heard something new about the Costco situation that I found
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  fascinating last night. Now we know Costco in their most
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  recently completed three month period quarter, they sold 100
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  million ounces of gold. We know they've started selling
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  American Silver Eagles, Canadian Maple Leaf Silver and it's been
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  sold out, sold out. I appreciate so much all the
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  messages I get from you guys with updates on this Costco
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  situation. But I heard something that I'd
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  never thought about regarding Costco and people that are
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  buying precious metals from Costco.
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  People are buying boatloads of precious metals from Costco.
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  And what was said that made so much sense and it's big news, a
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  big idea, something we need to consider right is we're
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  considering where the silver price, where the gold price are
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  headed. Is this most people?
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  This does not include you and me.
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  We're the silver and gold enthusiasts.
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  You know how to go to a local coin shop.
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  You know how to go online and buy yourself some silver or
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  gold. But 99 out of 100 people, or
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  heck 199 out of 200 normal people out there, they don't
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  know how to buy gold and silver. They don't feel comfortable
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  going to a local coin shop. A lot of people, you know, are
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  apprehensive. They don't know where to buy
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  gold or silver online. But when Costco, they trust
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  Costco. When Costco says, hey, we have
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  gold, we can sell you, we have silver, what are we seeing?
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  We're seeing a wave of people buying silver and gold.
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  Not that the typical look. I don't think that most basement
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  dwellers, you and I, are the people that are buying silver or
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  gold from Costco. These are your neighbors.
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  These are new stackers. These are new people joining us.
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  And it's a big, big deal. It's something we can be very
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  excited about. Hey, you know what?
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  If somebody buys their first round of of a tube of American
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  Silver Eagles from Costco, more power to them, you know?
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  But eventually we're going to have to tell them that they need
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  to check out channel sponsor Pimbex Pi, MB EX.
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  They're an online bullion dealer.
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  That's where I buy my silver. And what I found is that their
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  prices are always the best, their selection is more than
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  adequate and their customer service is second to none.
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  So when all these Costco people, once they get the real bug and
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  they want to buy some real silver, real gold, and have a
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  real big selection, you know, I I hope they at least consider
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  checking out Pinbex. That's what I did over a year
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  ago, thanks to you basement dwellers telling me about Pinbex
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  and I think Timbek's is best. I think those Costco people are
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  going to figure that one out as well.
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  But let's talk about China and gold.
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  And when we talk about gold, we're talking about silver as
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  well. We're having a growing number of
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  YouTube commentators, top analyst as well, talking about
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  this gold situation. Is China putting in a floor for
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  gold at $2000? Because look, guys, with the
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  with the, with the situation, with the interest rate
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  situation. Thank you, Wendell.
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  Thank you for that super chat with the economic situation
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  where it is right now. Gold should really, had you told
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  us two years ago that we would be where we are right now with
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  interest rates, with everything else.
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  I got bad news for you. Gold should be 1500.
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  Sixteen $100.00 an ounce. If you'd plugged all that data
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  in two years ago, that's where we should be.
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  But we're not. And why not?
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  Well, everybody's talking about China.
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  We've talked about this, but we've got some critical things,
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  critical concept that we need to understand about what's going on
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  in China. Thank you Andy Oakley for being
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  here at the at the drop of a hat.
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  We're getting ready to take off for a few days.
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  So I'm doing an early live stream, but what's going on with
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  China? Here's and and and Bald Guy
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  Money put out a great video yesterday.
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  We talked about some of these concepts earlier in the week.
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  Other people are talking about this as well.
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  Bald Guy Money has a very comprehensive analysis of this
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  situation in China. But what we need to consider,
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  Imagine yourself a Chinese person, OK, we're you and me,
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  we're living in China. They don't get YouTube, OK, So
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  they can't watch us over there. But we're in China.
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  We're normal, average Chinese people.
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  What are we going to do with our money?
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  OK, #1 Chinese people generally have a little bit higher level
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  of distrust for their banking system.
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  OK, so they're not going to want to store their money in the
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  bank. They're not going to want to
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  store their money in paper, right?
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  Unicorn fart dust? Chinese yuan?
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  No. You know why the yuan has been
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  going down in value If you look at a chart of the yuan, the
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  Chinese currency. Hopefully I'm pronouncing that
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  correctly. Nonetheless, you look at a chart
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  of their currency, it's near A5 year, low against the US dollar.
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  Their currency has been losing money.
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  They don't want to put it in the bank because the interest rates
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  they get aren't attractive. So that takes away the option of
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  storing wealth in the bank. Well, what about their real
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  estate? You know, right?
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  Unless we've been all underneath a rock.
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  The Chinese real, they have ghost cities, right?
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  They've overbuilt people. Were you think our real estate
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  market is screwed up? We're kind of getting close to
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  China, but nonetheless, the Chinese real estate market,
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  that's where people over the last maybe 10-15 years, they
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  were investing their money into real estate.
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  It's crashing. It's in bad, bad shape.
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  So you're not going to put your money in the bank, You're not
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  going to put your money into real estate.
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  But then what about the stock market?
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  You know, the stock market always goes up.
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  Here in the United States, we have the Magnificent 7.
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  It just all you have to do is give your money to your broker
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  and it just goes up and never goes down.
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  Well, in China, they have a different situation.
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  Their stock market right now, depending on which index you
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  look at, they're down anywhere from 20 to 40%.
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  They are way, way off their all time highs and you think they
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  don't trust their banks in China, they don't trust the
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  stock market at all. So you're a Chinese person,
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  you've got some money, right? You've worked, you've earned
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  some money. What are you going to do with
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  it? You don't want to put it in the
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  bank, you don't want to put it into real estate, right?
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  That's crashed and you don't want to put it into the stock
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  market because that's not done well either.
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  OK. So thank you for the happy
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  birthday wishes, guys. That's a big deal.
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  I do appreciate it. But remember we're, I'm, it's my
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  Chinese birthday. What's our Lunar New Year or
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  whatever it is right now. But it's my birthday in China.
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  We're all hanging out in China, right.
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  We don't know what to do with all these yuan we have.
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  Again, thank you, Jim. Thank you, Jim M, mad buddy.
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  Jim M thank you Jim. And not just Jim, but you.
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  Think about this, guys. We're in China, the second
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  biggest economy in the world. We got, we made some money.
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  We got, we're trying to figure out what to do with it.
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  No bank. No, we don't trust that.
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  No cash, no real estate, no stock market.
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  What do you think the answer is? Who can tell me who can put it
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  into the. Who can put it into the chat,
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  huh? Who can put it in there?
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  A goat? Yeah, I bet it's called a goat.
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  And that's a compliment. I didn't realize what that
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  meant. Then.
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  Excuse me. The greatest of all time.
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  That's a bit of an overstatement.
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  Almost said understatement. Thank you for the Super chat.
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  Thank you. I'm gonna talk to you guys
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  briefly about my birthday and why it's a significant thing for
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  this channel at the end. Because I don't wanna torture
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  you now. No, They're gonna put their
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  money into gold. They're going to put their money
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  into silver. And are we seeing that right
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  now? Are we seeing that right now?
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  Listen, I've got some data for you, OK?
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  Look, this is from the World Gold Council, written by Ray
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  Jai. He's the World Gold Council's
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  research head for China. Here's some highlights.
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  He said wholesale gold demand saw the strongest January ever,
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  271 tons Okay, boosted by stock replenishment ahead of the
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  Chinese New Year. But January?
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  That's last month, Okay, January, the highest wholesale
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  demand ever for gold in China. Chinese gold ETFs, OK, they're
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  gold ETFs. Like we have GLD here in the
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  United States, which has been having an SLV for silver, has
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  been having major outflows in China.
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  They attracted 113,000,000 additional dollars, lifting
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  their total assets under management to an all time high.
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  There's more money in Chinese gold ETFs right now than any
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  other time in history. The PBOC.
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  We know the PBOC. The People's Bank of China.
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  PBOC reported 15 consecutive gold purchases in January,
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  adding 10 tons to their gold reserves and lift, lifting the
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  total to 2.2 or 2245 tons. The Chinese central bank?
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  15 consecutive months of gold purchases.
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  OK, 2024 New Year holiday gold consumption could see us trying.
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  Looking ahead, basically the wholesale gold demand, the
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  demand for gold in China is crazy right now.
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  That's a big. So why let's just let's put this
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  together. Let's not forget what we started
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  with. We started with talking about
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  Costco in gold, crazy demand in the United States.
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  And the big key thing for us to remember about Costco is those
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  are gonna be new stackers. Those are people who were afraid
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  people will ask me, and I'm always kind of like, do you find
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  this? People will ask you like, how do
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  I buy gold? How do I buy silver?
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  I'll say you can go. And I'll tell them the local
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  coin shop if you want to go there and you want.
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  And they're like, afraid to go. And I'm like, oh, well, you can
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  buy online. You can.
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  There's all kinds of big online bullion dealers.
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  We already talked about Pinbex, right?
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  The sun shining on them right now.
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  If you can see that the sun always shines on Pinbex, huh?
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  People are afraid There's a certain level number of people
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  like, I don't I'm gonna get ripped off.
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  Whatever. But they trust Costco, right?
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  And as they get their foot in the water, they'll start to
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  trust other companies as well. That's a big deal.
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  But what about China? The average people, right?
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  Not just their central bank, but the average Chinese person they
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  look at. They get their menu right?
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  And they get their menu to look at.
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  What am I gonna do? Why no bank, no real estate, no
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  stock market. There's not much else left.
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  I don't know. What are you gonna invest in?
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  Right? Right.
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  And China is the world's second largest economy.
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  This is a big deal. Remember guys, remember when
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  we're talking about silver and gold?
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  OK, this is beautiful. This is the one of the beautiful
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  things that we need to remember. We're talking about a a a store
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  of value money that has been not only timeless, OK?
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  Money from the beginning of time when there was money 4000 years
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  ago, 5000, right? Silver was actually the original
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  money. Silver was used as money before
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  gold, but nonetheless, silver and gold are timeless.
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  But on top of that, they are universal.
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  The Chinese know that. The people in Buenos Aires know
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  that. The people in Fiji know that the
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  people, any corner of this planet in the middle of the
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  jungles of Africa, you know, in the, in the, in the frozen
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  tundra, gold is that it's universal, universally
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  recognized as value. What am I, kids?
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  You know, where else it's this is crazy, 'cause people talk
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  about old kids or so. My kids play all these games.
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  This is interesting. All these games they play, not
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  Roblox and whatever it is, whatever it is, Fortnite,
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  whatever, these games are, every time there's some type of gold
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  coin, silver coin oriented into the game, it is ingrained in
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  that. You know, people say, oh, it's a
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  worthless rock, it's a pet rock and it's all gone.
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  And you know, it's the past. No, no, you know, you take 5000
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  years and you just take the last 40 or 50 years that we've really
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  in a certain, to a certain degree, moved away, moved to
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  paper, Unicorn fart dust, whatever you want to call it.
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  Money. That's just a blip on a long
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  scale. And here's something, I mean, I
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  don't know. Am I wrong about this?
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  I know people say, well, the last 50 years the United States
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  hasn't been on the gold standard, the dollars, the
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  world, the world reserve currency, the hegemony, blah,
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  blah. Well, didn't we go through
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  periods? Didn't the Roman Empire and the
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  Dutch and the Spanish? Didn't they all, at the end move
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  away from backing their currency with gold and silver?
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  So the fact that we've temporarily moved away, right,
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  And that kind of put, think about it this way, I mean, kind
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  of put like gold and silver, like a bear, a big powerful
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  force, right, that hibernates and it kind of put gold and
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  silver. It didn't die.
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  It didn't. It just kind of kind of got
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  scooted over, not completely right.
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  It's still there. It can still wake up any time
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  you disturb it. And right now I believe silver
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  and gold are waking up from their hibernation.
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  OK, the Chinese, I I did write some notes for you, so let me
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  read this to you. This is my own writing, OK?
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  And like I said Bald Guy Money did a video really focused in on
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  this Chinese situation and he has his own unique take and we
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  love bald guy, so you can go watch that as well.
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  But the Chinese have always loved gold and silver, but now
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  even more as it's the last good looking item on the menu.
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  Why is this always happen over history young Chinese people,
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  this is a big deal. Have you heard about the gold
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  beans right in China, the young Chinese people, the millennial
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  generation, there's this, this like fad and not necessarily a
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  fad but a craze that's going on with gold.
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  And the young people in China, they buy these little one ounce
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  gold beans and a lot of them try to buy one a week, one a month
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  and then they collect them in little jars.
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  And when they when you talk to these these young Chinese, when
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  they interview them, they say that's the way that I'm storing
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  my wealth, that's the way I want to hold my wealth.
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  They don't want to go into the banks, they don't want to go
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  into the stock market, They don't want to go into real
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  estate. They've seen what can happen
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  there. No, right.
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  It's so we've got the young people in China buying gold hand
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  over fist. Are they putting in a new floor?
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  Is does that explain we know the Chinese central banks buying
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  tons of gold. We know the Chinese people are
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  buying, buying gold. Have we seen a new floor?
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  Is that why gold often trades at a big premium in China?
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  I think it could certainly be an explanation.
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  OK, All right, hold on one second.
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  Let me have a drink. Coffee.
• 16:32
  And no discussion about China is complete if we don't talk about
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  our friends in India. OK.
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  I was at one of my daughter's basketball games last night.
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  I talked to one of the fathers who's from India.
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  I've talked to him many times and he's told me, Whoa, man.
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  Mr. Cut, thank you for that super chat.
• 16:52
  Happy birthday to me. Thank you my friend.
• 16:56
  But but India and you talk to people from India, ask them
• 17:01
  about silver and gold. They love their silver and gold.
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  So we're talking about China. India's doing the same thing and
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  and India is silver is unbelievable.
• 17:10
  Over the last two years, the amount of silver they have
• 17:14
  imported into India. Now a lot of it has to do with
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  jewelry, a lot of that has to do with investment, but probably a
• 17:22
  lot of it, most of it has to do with in industry.
• 17:27
  OK. And it's on.
• 17:31
  I'm just going to give you a little, a little tease here.
• 17:35
  The amount of silver, I think now they're saying 20% of the
• 17:39
  world's silver production this year was used in solar panel
• 17:42
  manufacturing. The new technology called top
• 17:46
  con uses up to 50% more per panel guys.
• 17:51
  And that's just, we're just now transitioning into into into
• 17:54
  these top con solar panels, OK. They're going to use 50% more
• 17:59
  silver per panel even if solar panel manufacturing were to be
• 18:04
  flat, right? The new panels are going to be
• 18:06
  using more silver. There's not enough silver to
• 18:09
  satisfy the demand. I mean, I want to bang the
• 18:13
  table. We cannot forget, right, China,
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  1.4 billion people, India 1.4 billion people.
• 18:22
  India in particular has a quickly expanding economy, a
• 18:26
  quickly expanding middle class. Demographically, we've got a
• 18:30
  wave of God, who knows 300 million people in the next 5 or
• 18:34
  10 years entering the middle class in India.
• 18:38
  And they're gonna, they're in the same situation as the
• 18:41
  Chinese, right? They don't trust their currency.
• 18:44
  They don't trust the banks. They don't want to put their
• 18:46
  money in the stock market. They don't know.
• 18:48
  I don't really don't know a lot about the real estate market in
• 18:50
  India, but I imagine it's not good either.
• 18:52
  Indians love precious metals. So the future looks really,
• 18:58
  really bright. Excuse me.
• 19:04
  So that's the deal guys, as we pull all this together, right,
• 19:07
  This Costco situation and something we hadn't thought
• 19:10
  about. These are new stackers.
• 19:12
  These are people who we're confused about how to buy silver
• 19:16
  and gold, right? And the fact that we're seeing
• 19:17
  record sales there is a good thing.
• 19:19
  China silver. Gold.
• 19:21
  Crazy. Don't forget, with China silver
• 19:28
  inventories on the Shanghai Gold Exchange right drained way down,
• 19:34
  China's Shanghai Gold Exchange is a physical market.
• 19:38
  China's Shanghai Gold Exchange is being increasingly recognized
• 19:43
  as the go to price throughout Asia.
• 19:47
  OK. China's Shanghai Gold Exchange
• 19:50
  often has a silver price that reflects a 10% premium or more
• 19:57
  to what they're claiming. The price is on the Kovacs and
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  the London Bullion Market Association, the LBMA over there
• 20:04
  in the LME over in London, England.
• 20:07
  Hold on, I'm going to get a drink of water and we're going
• 20:09
  to, we're going to. I got to tell you a few more
• 20:11
  quick things, guys. OK, so big picture, big picture.
• 20:23
  We need patience. Patience, patience.
• 20:26
  In the interim, we're sitting on an investment, whether it be
• 20:30
  silver, gold or even precious metal mining stocks that have
• 20:34
  limited downside and really unbelievable opportunity for
• 20:39
  upside potential as well. I want to say thank you to you
• 20:42
  guys. Yesterday is my 54th birthday.