Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / SILVER STACKERS 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price... (Federal Reserve Rate Cuts)

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SILVER STACKERS 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price... (Federal Reserve Rate Cuts) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
We are living through transformational times as gold
0:06
investors, as silver investors. Tomorrow we're going to get news
0:11
that could be a complete sea change, a complete regime
0:15
change, a complete paradigm change, no matter what you want
0:19
to call it. But I've got a couple secrets
0:22
I'm going to share with you today, a couple things that we
0:24
know about what's really going on, and it will tie directly
0:29
back to your decision. I hope you've made that
0:32
decision. Have you made the decision I ask
0:35
you to invest in precious metals, maybe also to invest in
0:40
precious metal mining stocks? Because guys, let's, let's,
0:44
let's realize something. If you're living through a
0:47
transformational time like I believe we are right now, we
0:52
probably don't realize it. Usually it's something you
0:55
realize in retrospect. You look back a year later or a
0:59
couple years later and realize just what is going on.
1:03
But tomorrow, you know, I was talking with M1 of the owners
1:06
over at Pembeck's this morning, he said it's like the Super
1:08
Bowl. I mean, all this massive build
1:11
up mostly at this point. I'll let you in on a secret,
1:14
guys. A symbolic change in monetary
1:17
policy to be expected by the Fed.
1:20
I mean, let's be real, gold and silver have already priced in
1:26
what they expect is going to happen tomorrow.
1:29
They see way out into the future just like you do.
1:34
But nonetheless, from a mainstream perspective, this
1:38
could be a massive, massive catalyst for the markets and for
1:45
the precious metals. So tomorrow we'll get the big
1:47
news. Scary times.
1:49
Hey, look, be prepared. I want you.
1:52
I I want to be real with you, OK?
1:54
And I'm just I'm going to be honest with you.
1:56
Sure I can come on here. I get accused.
1:58
We get you may get accused too from time to time of being a
2:01
silver pumper or a gold pumper. Look, I believe long term we are
2:06
in for great, great times in the precious metals.
2:11
Tomorrow could, and I'm going to say this only once during the
2:14
live stream. Tomorrow could be a sell the
2:18
Newsday, meaning we could have a down day in the metals.
2:21
But you know what? Buttercup, yes, buttercup,
2:26
basement dweller, you probably like that better.
2:28
Buttercup is a term of endearment.
2:31
It's OK if we have a little down day.
2:33
Tomorrow it's OK. OK because gold and silver, are
2:38
you feeling it? They are like building a base
2:41
right now. I mean, let's, let's, how do you
2:45
feel about this? Even if gold were to drop back
2:47
to $2500 per oz and build this solid base that through the end
2:53
of the year, right? Happy times.
2:56
Ho, ho, ho, Santa Claus is coming to town.
2:59
We know all the craziness that we're likely to see through the
3:02
end of the year, that gold could build a strong base of 2500 and
3:06
rally through the end of the year.
3:09
Everybody's calling for it. All the big banks, all the big
3:14
traders, everybody's saying it. That does not mean that it's
3:18
going to happen for sure. You know how that goes, right?
3:21
But even the world's biggest Japanese bank, whatever it was
3:25
called, Mumpka, I've never heard of them before.
3:29
It's a Japanese bank with 168,000 employees.
3:33
Mitsubishi something. Hold on a second.
3:35
Let's see. Let's see.
3:37
Here it is. I see it.
3:38
Here we go into the pile of knowledge.
3:41
Mufga, MUFGI always feel like I'm saying when I say MUFG, like
3:46
I'm saying a dirty word. But nonetheless, they're calling
3:50
for $3000 gold. Where does that put silver?
3:53
Hi ho silver. OK, tomorrow, Super Bowl, Super
3:58
Bowl for gold and silver investors.
4:01
We'll see. I believe it mostly to be
4:03
symbolic, but the Fed here's here's here's one I got a lot of
4:09
little secrets we're going to talk about today.
4:11
We're going to keep this in the basement, OK, basement dwellers,
4:14
the we don't need to take the Fed so seriously.
4:18
Sure, CNBC is going to take it seriously.
4:20
Sure, Yahoo Finance, all the big news agencies.
4:23
But we know that the Fed is losing their mojo, losing their
4:28
power, losing their, their, their ability to manipulate the
4:33
markets. Only a few of us know this,
4:35
right? But remember, I just want to
4:39
throw this in that Federal Reserve, it was created by an
4:42
act of Congress in 1913. And a president who subsequent,
4:47
like two years later, deeply regretted his choice.
4:50
So the Fed has lost. You know, everybody's going to
4:54
be all worked up tomorrow. Yeah.
4:56
And I'm going to be mad. It's like when I want mainstream
4:59
media, because I'll tell you what, everybody's going to be
5:01
all worked up about the Fed and what the Fed is doing.
5:05
But the reality is this. the Fed has lost to the national debt.
5:10
The Fed has lost to the deficits and the Fed is in the process of
5:15
losing to the BRICS countries. I want to show you something
5:19
that I've, I, I, I don't think we've talked about this before.
5:22
And I think this will demonstrate to you because the
5:24
Fed has said it themselves, right?
5:26
The national debt is a big, big, big problem.
5:31
But of course, our politicians just ignore them, right?
5:34
They just ignore everything about it.
5:36
But I want to show you something new that I think will
5:41
demonstrate to you in no uncertain terms what we're
5:45
talking about. Yes, one of our favorite
5:47
websites, the US debt clock, there's our U.S.
5:51
National debt. Look, we can just look, we can
5:53
just point at that alone and say that's a big problem.
5:56
That's why the dollar, the real value of the dollar is going
6:00
down. The real value of silver and
6:02
gold are going up. But I want to point this out to
6:04
you, this right here, $35.4 trillion in debt that creates
6:12
this down here, the interest on the debt that makes that go up
6:18
and up and up almost a trillion dollars a year right now in
6:22
interest. So the national debt right
6:25
obviously and with higher interest rates makes this
6:28
interest expense go up. The interest expense makes this
6:33
go up. the US federal budget deficit official $2 trillion,
6:39
OK. And that the the deficit makes
6:44
the national debt go even higher, which in turn are you
6:48
following me here, makes the interest expense go even higher,
6:51
which is what we've been experiencing now over the last
6:55
in a very, at a very crazy way over the last couple years, but
6:59
it's been going on for a couple decades.
7:01
So again, is the interest expense gets even higher, that
7:05
makes the deficit going even higher, which makes the debt go
7:09
even higher. We'll go through it one more
7:11
time. And now with the higher debt,
7:13
imagine seeing like 50 trillion up here in 2 trillion down here.
7:18
A higher interest expense again makes this, do you see the doom
7:22
loop? This is the doom loop.
7:25
Follow my yellow finger, right? National debt goes up, interest
7:29
expense goes up. Interest expense goes up, the
7:33
budget deficit goes up. Budget deficit goes up, that
7:37
goes up even higher. It's a doom loop.
7:39
This is why the Fed has lost their mojo, has lost their their
7:43
power. Now, they're still powerful,
7:45
don't get me wrong, but it's waning and and we're we're
7:50
witnessing right now the final battle between precious metals
7:55
in the US dollar. I firmly believe in that while
7:59
we're here it, it never ceases to amaze us basement dwellers.
8:03
Let's go look at silver quickly. Wow.
8:08
I mean, it goes up and up the dollar to silver ratio again,
8:12
higher 531. That means for each one ounce of
8:18
silver that will be produced this year, there's $531 of M2
8:26
money supply being created, $531.
8:32
Wow. And there you can see up in the
8:33
middle, it explains it explains it.
8:36
But I think I did a pretty good job of explaining it, $531 for
8:40
each and every right ounce of silver that's pulled out of the
8:45
ground. Do you feel it?
8:48
I mean, does that tell us where silver's going?
8:51
I heard, I forget who it was last night, talking about $75
8:55
silver. It's going to happen.
8:57
I believe it. OK, Don't make any financial
8:59
decisions based on anything that I'm saying.
9:02
But let's go out. It's time for us take our blood
9:05
pressure medicine. Let's go check on the current
9:08
price of silver and gold. What do you say, basement
9:10
dwellers? Let's run out the channel
9:12
sponsor, Pembecks. And this was from about 20
9:17
minutes ago, so I'm going to press the button here.
9:19
Take a deep breath. Let's see where we are.
9:21
OK, Gold is down $9 per oz, $2572.00 Let that sink in. 2572
9:31
silver, $30.85. I, I want to go down.
9:40
We have $31.00 silver basement dwellers.
9:44
We are on the cusp, no guarantees.
9:48
I think we're 5050 right now, but we are on the cusp of a
9:52
major potential breakout in the silver price.
9:56
I heard word last night that the, the one of the trading desk
10:00
that Goldman Sachs is saying that silver is one of the best,
10:06
one of the best bets right now in all the markets, that the
10:10
silver price is poised to go much, much higher.
10:14
Hey, if you think silver and gold are going to go higher, I'm
10:17
not giving financial advice. But if you ever decide that you
10:20
do want to get your hands on some physical metal, you want to
10:23
hold that silver in your hand, that gold, that platinum group
10:26
metal in your hand. Please support channel sponsor
10:29
Pembex. I was talking with M1 of the
10:31
owners this morning and I'll just tell you what I told him.
10:34
I said I feel very lucky to have you guys as a sponsor because
10:38
I've received overwhelming from you, the basement dweller
10:42
community, overwhelming positive, positive feedback from
10:46
all of you regarding your interactions, your purchases
10:50
that you've made from PMBEX. All I ask is that if you're out
10:53
there shopping around online for precious metals, give PMBEX a
10:58
chance, throw them into the mix. A lot of you already have,
11:01
right? But what I love about PMBEX, and
11:03
that's where I buy my metal, is that I know I'm always getting
11:07
ultra competitive pricing. I know they have a great
11:11
selection. But really one of the key things
11:14
for me also is that it's a company I can trust.
11:17
And if you ever decide to convert all or part of an IRA,
11:20
please, please, please take your time.
11:24
And don't forget, talk to the guys at Pembacs.
11:26
Hey, thank, thank you. We got a super chat.
11:29
John Goldsworthy. I wonder if that's his real last
11:33
name. I'd be Ron Silverback if I
11:36
could. Thank you for the Super chat, my
11:38
friend. OK guys, we got more to talk
11:40
about. So all all of this going on,
11:43
what I just showed you with the with the incredible doom loop
11:48
that we're in in the United States with our current fiscal
11:51
situation, that's called fiscal. Let's do a little quick
11:54
learning, basement dwellers, the debt, the deficits, that's
11:58
called fiscal, fiscal policy. What the Fed does with their
12:03
target interest rates, that's called monetary policy.
12:07
So tomorrow we're going to hear from the Fed about monetary
12:10
policy, but that will have an impact on our government's
12:13
fiscal policy. So like the Treasury Department
12:15
and Janet Yellen, they handle the the fiscal policy.
12:20
They don't handle it very well, but they do handle it.
12:25
And Gomer Pyle, we're going to hear from Gomer tomorrow, right?
12:29
He's going to hopefully it's not a surprise, surprise, surprise.
12:33
Sergeant Carter, I decided not to cut rates if that happens,
12:37
Katie, bar the door. If they cut by 1/4 percent, I
12:41
really feel like we could have a little bump in the road for
12:44
silver and gold long term. We're fine if they cut by half a
12:48
percent, right? But let me show you something.
12:50
This is getting more and more fascinating.
12:52
Let's run out here on a little field trip to the Chicago
12:56
Mercantile Exchange and look at this, that they have the Fed
13:00
watch tool. They've got the countdown to the
13:02
Fed one day, three hours, 4 minutes.
13:05
But that's not what we're here for.
13:07
I mean, they're acting like it's a rocket blast off.
13:09
Maybe it will be a rocket blast off, but here are the odds over
13:14
here. There's the the, the, the
13:16
according to the investment betting community, there's a 63%
13:21
chance guys that we're going to get a half a percentage point
13:25
cut tomorrow. According to the Chicago
13:27
Mercantile Exchange, only a 37% chance that we're going to get a
13:32
quarter percent cut. I guess, you know, based on
13:35
this, there's a 0% chance that we're going to see no change.
13:40
So we're going to see something tomorrow.
13:42
It would be shocking if they don't do anything.
13:45
We're going to see either this at right down here, 1/4 percent
13:49
cut or as the statistics here show us, a 63% chance, so almost
13:57
a two out of three chance that we're going to get a half
14:00
percentage point cut tomorrow. I'll be real curious, what do
14:03
you think how the market will react tomorrow to 1/2 percentage
14:08
point rate cut? I don't know, but but then I
14:11
hear so many other people saying that it's going to be 1/4, it's
14:13
going to be 1/4. We'll see how it all plays out,
14:16
but all these factors are playing into each other in
14:19
creating an environment where the Fed is losing control.
14:22
Inflation, deflation, stagflation.
14:26
Just want to show you what Jamie Dimon had to say recently.
14:30
Wrong one. Where'd it go?
14:32
Uh oh, Hold on here. There we go.
14:36
Jamie Dimon, This comes from CNBC.
14:39
Jamie Dimon says he's the CEO of JP Morgan Chase, the most
14:43
powerful investment bank in the world.
14:46
He said the worst outcome is stagflation, a scenario he's not
14:51
taking off the table. Interesting.
14:55
We've been beating the guys, US basement dwellers.
14:58
We've been beating the table. Hold on here.
15:00
I'm going to see if I can do this differently.
15:03
Let's see if this works. Does that work?
15:06
OK, Hold on here. That doesn't work.
15:10
Hold on, guys. Oh, here we go.
15:15
Can we see that? I don't know.
15:21
Here we are. OK, we've been beating the table
15:23
on stagflation for a year. Stagflation, just to quickly
15:28
review, was what happened in the 1970s and in the 1970s.
15:32
How does this sound to you? A silver price that goes up 20
15:36
times, actually more 20 times, not 20%.
15:40
Twenty times. That's what happened in the in
15:43
the 70s. That's what happened the last
15:45
time we had stagflation. Gold went up like, I don't know,
15:49
1817 times, something crazy as well.
15:52
That's what happened the last time we had stagflation.
15:55
Here we have the CEO of the world's biggest investment bank
16:00
warning about, yeah, you guessed it, stagflation.
16:04
Should we pay attention? While we don't like JP Morgan
16:07
Chase and they've manipulated the precious metals markets for
16:10
decades, we will pay attention and we will like Jamie at this
16:13
point because if he is correct, we could be in for an incredible
16:19
ride in the precious metals. OK, here's the key points.
16:23
JP Morgan Jamie Dimon said Tuesday he wouldn't rule out
16:27
stagflation. Hopefully we're still alive
16:34
here. Diamond's comments come at a
16:37
time when investors are turning their attention to signs of
16:41
slowing growth. Think about that.
16:44
How do you think the economy is doing right now?
16:46
Ask those 818,000 people that it had make believe imaginary jobs.
16:53
According to the Bureau of Labor and Statistics, from March of
16:57
2023 through March of 2024, they just were off by almost a
17:02
million jobs. I digress.
17:04
Slowing growth as inflation has shown signs of cooling.
17:09
He said he worries that a raft of inflationary forces on the
17:14
horizon, such as, like we just talked about, boy, we're
17:18
smartest Jamie Dimon guys. Higher deficits and increased
17:22
infrastructure spending will continue to add pressures to an
17:25
economy still reeling from the impact of higher interest rates.
17:32
OK, I got to do one more thing, he said.
17:33
Quote, I would say the worst outcome is stagflation,
17:38
recession, higher inflation, Diamond said at a fall
17:42
conference or whatever in Brooklyn.
17:44
Quote. And by the way, I wouldn't take
17:47
it off the table. OK, Well, Jamie, we like that.
17:52
We got one more thing here in green.
17:55
Diamond worries that a raft of inflationary forces on the
17:59
horizon, such as higher deficits and increased infrastructure
18:02
spending, will continue to add pressure to an economy still
18:06
reeling from the impact of higher interest rates.
18:09
And what about the fact of the the bricks in the world?
18:12
I would call that geopolitical forces that will add to
18:15
inflation as well. He says, Quote, they're all
18:18
inflationary basically in the short run the next couple of
18:23
years. So it's hard to look at it and
18:25
say, well, no, we're out of the woods.
18:28
He says, I don't think so, guys, inflation is going to rule the
18:32
day. Inflation is going to propel
18:36
that silver you might be looking at right now right in your
18:40
basement, that gold, you might have those precious metal mining
18:43
stocks. It will propel the price of the
18:46
metals higher. That's just my opinion.
18:49
Don't make any financial decisions based on anything I'm
18:51
saying today. I'm only right about 68% of the
18:55
time. The bank leader has previously
18:57
warned of an economic slowdown. We are heading into an economic
19:03
slowdown at the same time. I got to get him out.
19:07
OK, hold on. Special guest appearance today.
19:11
An economic slowdown while at the same time we are going to
19:15
have inflation. This guy, he'll be tomorrow,
19:19
right? Old Gomer Powell, right?
19:22
Surprise, surprise, surprise. I really would.
19:24
I didn't know what I was talking about.
19:26
Right? He's in a box, not just here
19:30
figuratively, but literally. He's got a recession on one side
19:35
that's that's barreling down and inflation on the other.
19:39
OK, he's in a box, right? Recession, I'm sorry, inflation
19:45
with recession is stag. This is the stagflation box, OK?
19:50
Because when he's over here and he wants to fight inflation, OK,
19:53
How does he fight? How does he fight inflation?
19:56
He's got to raise interest rates, right?
19:58
Think about this for a second. He's got to raise interest
20:01
rates. That's what he did over the last
20:02
four years. But when he raises interest
20:04
rates, that makes this worse. The recession that slows the
20:08
economy, what we're in right now.
20:11
But if at the same time, right, So how does he deal with that?
20:14
He lowers interest rates, that makes this, that makes
20:18
hyperinflation, right? So how does he deal with that?
20:21
Oh, well, then he's got to raise interest rates more.
20:24
That makes the it's, it's, it's not a joke.
20:26
This box, this box, this box symbolizes everything that is
20:33
wrong with our country. And all of it, a lot of it feeds
20:36
back to what we looked at earlier.
20:38
OK, out of control, complete out of control spending and debt
20:45
levels. Thanks to our trusted servants
20:48
in Washington, DC, right? I mean, give me a break.
20:52
OK, the Fed's been neutered. Don Indris, right?
20:57
A big, big, big friend to the channel.
21:00
What it all boils down to. This is what it all.
21:03
This is one of the little secrets.
21:05
OK, you ready for a secret? Don Indris loves this, but it's
21:10
true. Mathematics show no forgiveness.
21:15
The laws of mathematics show 0 forgiveness on the altar of
21:22
truth, meaning in the end, right calculators, when not even I
21:27
heard somebody say once in other ways that not even God can
21:30
change the fact that 2 + 2 = 4. Maybe he could.
21:34
This is not a religious channel. I'm not making a religious
21:36
statement. That was just a figurative thing
21:38
that made sense, right? Math, you can't eventually the
21:42
laws of nature rule out and guys, where we are right now in
21:45
this country is a precarious situation. the Fed is losing
21:48
control right at a time. Also on top of that, I mean,
21:52
think about this, we're we're in a situation financially right
21:58
now in the United States. OK, that's worse than we would
22:03
then. OK, right now here's a truth
22:05
bomb. This isn't the secret.
22:07
This is this that if you don't, you know, if, if you have a weak
22:10
heart, turn the volume off for a second.
22:13
Right now we're in a financial situation in this country.
22:18
OK, that's worse than we were when we came out of World War 2
22:23
and the Great Depression. Because remember, World War 2
22:26
was kind of right after the Great Depression.
22:28
We've just gone through the Great Depression and at the
22:32
biggest war. I used to say war, but I got
22:36
yelled at by 1000 people. So I changed for you.
22:39
War in the history of the world. Now, right now, right when
22:43
things are supposedly good. Right now.
22:46
Hold on a second. We got another special guest,
22:49
boy. It's a double feature today.
22:51
You didn't know. You're in for that.
22:52
Remember, everything's wonderful in the US, economy, everything.
22:57
What are you upset about? Everything's great.
23:00
Well, I'll tell you. We'll tell you, Janet, what
23:05
we're upset about is that right now our financial situation is
23:10
in a state of emergency, OK? And you're trying to tell us
23:14
everything is awesome, everything is cool when you're
23:17
part of a team. I know I won't sing anymore
23:21
nonetheless, right? We're in a state of emergency.
23:27
It's it's mind boggling. OK, I need I, I, I think my
23:31
brain's going to explode. I'll say it calmly.
23:37
Right now, basement dwellers, we are in a family emergency, OK?
23:41
Because we're sitting in a worse financial situation than where
23:45
we were at at the end of World War 2 and the end of the Great
23:49
Depression and supposedly everything's great.
23:53
Well, I just have one question for the for her, Janet.
23:57
What are we what's going to happen if, if things aren't
24:00
great, right? I mean, it is precarious and I
24:05
promise I'll be a positive the rest of the live stream because
24:08
on top of it, on top of it, think about this, we got the
24:13
election coming up. All right, end of subject.
24:16
You know what's going on there. Welcome to the Banana Republic.
24:20
OK, anyway, on top of that, what we just talked about with the
24:24
fiscal situation, the war, Great Depression, blah, blah, blah,
24:28
big election. And guys, there's another little
24:31
secret. There's a massive, massive
24:35
bricks meeting October 22nd, October, end of October, OK?
24:40
All of this is happening at the same time.
24:44
Do you see it? Look, I was wrong.
24:46
I owe you a big apology. I I said 2024 was going to be
24:50
crazy last year in December, I said a couple I, we, we
24:53
predicted $2500 gold in December by May.
24:57
We didn't get there. We got the 2475.
25:00
We were darn close, but I also was wrong.
25:02
We were wrong, a lot of us right, that 2024 was going to be
25:06
an absolute crazy year from like a Black Swan perspective and
25:11
everything else. And really, it hasn't happened
25:14
yet. But guess what, buttercup?
25:17
Buckle up, because the year is not over.
25:20
OK, the Fed let me just finish railing against the Federal
25:24
Reserve for a few seconds. They're stealing our money 2% at
25:32
a time period. There's no other way to say it.
25:34
That's the best case scenario. They're stealing our money by 2%
25:38
inflation. That's devaluation of this
25:41
stuff. It's time for the daily.
25:43
Oh, there it is. Like I always floats by when I
25:45
talk about it. OK, they're stealing it.
25:48
That's not moral, That's not right.
25:50
And that is not what our founding fathers had in mind for
25:53
our country. Money is a moral contract.
25:56
Monetary policy is now playing favorites, right?
25:59
The wealthy have been big beneficiaries of the Federal
26:03
Reserve. And think about this, this Fed
26:05
tomorrow when that when he's up there talking, get putting on a
26:08
show about how he's so, you know, concerned about the
26:11
average American, blah, blah, blah.
26:13
You don't own the Fed. the United States government doesn't
26:17
own the Fed. The Federal Reserve is owned by
26:19
the member banks, banks, the Fed, OK.
26:26
The Fed, the Federal and Federal Reserve is no more federal than
26:30
the Federal and Federal Express. The company Federal Express,
26:34
their Federal Express is as much a part of the United States
26:39
government as the Federal Reserve.
26:42
The Federal Reserve is owned by the banks.
26:45
Now, I just want to throw this out there.
26:48
Who do you think they're looking out for, Tom?
26:54
If they're owned by the banks, who do you think they're looking
26:57
out for? I'm not.
26:58
I'll let you answer that question in your own beautiful
27:01
mind. And by the way, I forgot.
27:02
Thank you for being here. You are.
27:04
You. Yeah.
27:05
You 800 of us are the most important part of Ron's
27:09
basement. Thank you for your time.
27:11
I appreciate it. You got a good head on your
27:14
shoulders. We want to learn from you.
27:16
One way we can learn from you is if you're willing to share your
27:20
thoughts over. I don't know.
27:21
Wherever it is on your screen, the comment section, you don't
27:24
have to agree with me, right? I don't agree with myself a lot
27:28
of the time. And I can assure you that Silver
27:30
Susie, my wife, she agrees with me even less.
27:33
And that's OK. Because if we disagree, that
27:36
gives us an opportunity to learn things.
27:38
We want to hear from you. Please leave a comment,
27:40
subscribe to the channel and give this video a thumbs up.
27:43
That helps get the word out to more people.
27:45
Where were we? Basement dwellers?
27:47
You know what? Later, I'm going to try to sell
27:49
you this. Don't go away.
27:52
It'll be it'll be it'll be the most exciting part of your day.
27:56
OK, final thing on the Fed. And then we're moving on because
28:00
we're almost out of gold. Get your gold while you still
28:03
can. It's almost gone.
28:07
Volcker. Volcker was the guy that that
28:10
solved the, the he, I think he was a Fed guy.
28:12
I don't know whatever he was. And now he was the head of the
28:14
Fed because he's the one that raised interest rates to 15%.
28:18
Both Volcker and Alan Greenspan, they both talked about the how
28:23
much and how the attractive attributes of precious metals.
28:28
OK, all right, Alan Greenspan, I got some old quotes from him
28:31
saying it's the only form of real money.
28:33
Remember, he was the head of the Fed during the like around the
28:36
time of the tech bubble burst. Volcker was the head of the Fed
28:39
in like the 70s or 880. I think he came in an 80 and
28:42
raised rates to 15% under Reagan.
28:44
OK, those guys both talked about, they also Volcker said
28:49
that there's no, it's that that inflation is not necessary.
28:53
So tomorrow could be that could be that sell the news days.
28:57
What's going to happen, right. I'll tell you this is happy
29:00
news. I want to cover it quickly here.
29:03
What's going to happen though now that we're going into this
29:06
lower interest rate environment, Are you wondering, are you
29:09
wondering, are you concerned what's going to happen to the
29:12
price of silver? What's going to happen to the
29:14
price of gold? Are you concerned that maybe you
29:18
own precious metal mining stocks and what's going to happen to
29:21
them? Well, I think I may have some
29:24
probable answers for you. Let's go and take a quick look.
29:30
Here we go. What happens when the Fed lowers
29:33
rates? But look at that.
29:35
That's extras pyramid. More on that later.
29:39
OK, We're going to have people, it's going to start right lower
29:42
interest rates on CDs, money markets that that is, that is
29:46
your neighbor's safe harbor investment.
29:48
Oh, I bought a 12 month CD at 5%.
29:51
Well, now they're only going to be, you know, as rates come
29:54
down, if that's what happens, they're going to be much lower.
29:57
Inflation will be going up at the same time.
29:59
Remember what Jamie Dimon just said, stagflation and the stock
30:05
market will be suffering, struggling, weak is going to
30:10
hurt corporate revenue, while at the same time, right, their
30:13
sales are going to be going down while their expenses are going
30:16
to be going up. Because we're going to have
30:19
inflation because of all the aforementioned reasons, not the
30:24
least of which is just basically lowering interest rates is a
30:28
catalyst for higher inflation. And with the stock, bear with
30:33
me, with stock market challenges and fixed income less
30:35
attractive, right? Where are people going to go?
30:39
People are going to go to precious metals, guys, think
30:44
about it. You're going to have this
30:45
massive number. We'll go back to extras pyramid
30:48
real quickly, but we're going to have this massive amount of
30:52
money, right? That's sitting in CDs and money
30:56
market accounts making 5% right now.
30:59
Suddenly people are only going to be making, let's say, 3%, OK?
31:03
And at the same time, and this is all going to unfold over the
31:06
next 18 months, inflation is going to be going through the
31:10
roof. And look, everybody went through
31:13
that last period of inflation. What was that, 2022?
31:16
They know the pain, the agony that that caused at the checkout
31:21
lane at the grocery store on your wait till you see this
31:23
comment. I got to share with you later
31:25
from one of you guys. We share one of your comments in
31:27
every live stream. But wait till you see this
31:29
comment. I'm gonna share with you later.
31:31
I may just do it even earlier cuz it applies to what we are
31:34
talking about right now. OK, OK.
31:37
People are gonna be, they're gonna, they're gonna, they're
31:39
gonna be dealing with inflation, OK.
31:41
And they're gonna be like, Oh my God, I got to do something with
31:44
my money Cuz I'm only making 3% now in my CD or my money market.
31:50
Nothing against that. I've got some, some, some dry
31:52
powder in a money market account, but I'm only making 3%.
31:56
And my gosh, the cost of food's going up 20% a year, 30% a year.
32:01
What am I going to do? Put yourself in that person's
32:03
shoes. Am I going to, am I going to
32:05
keep losing money in real terms keeping it in a bank account or
32:09
ACD or no, I don't want to do that.
32:12
Should I put it in the stock market?
32:13
Well, the stock market is a bubble and it's struggling.
32:17
No, that and that's my safe money, right?
32:20
That's safe harbor money. Am I going to put in real
32:23
estate? No, this is happening in China
32:25
right now. This is happening.
32:27
No, you know where they're going to go.
32:28
They're going to go to silver and gold.
32:31
And what is so awesome for you and me as precious metal
32:37
investors is how small these markets are, in particular, the
32:42
silver market. Here's a secret for you.
32:45
The silver market's really tiny, OK?
32:48
The whole entire world only provides about a billion ounces
32:54
of silver per year. 1 billion oz.
32:57
I know your stack at home is probably bigger than that, but
33:00
nonetheless, a billion oz. At 30 bucks an ounce, that's $30
33:05
billion, OK, Think about that, right?
33:09
That's chump change when you look right.
33:12
So the, the, the impact on things like the silver price
33:16
independent, just money flows independent of the supply demand
33:20
dynamics. We know we could talk about that
33:23
for ages, right? Unbelievable demand growth for
33:26
silver while that supply number, I told you a billion oz is
33:30
actually going down, but it's just a drop.
33:33
I mean, I mean less than 1% of this money of this money, where
33:40
is it? There it is, right?
33:43
This is extras pyramid. If just one little percent of
33:49
that bank money, government bonds, people are going to lose
33:53
faith in those, right? Or or just a tiny bit of that
33:56
money goes from up there. See on the bottom gold and
33:59
silver, that's really representative.
34:02
I mean they are tiny teeny weeny itsy bitsy Elite is another way
34:06
to say it. Basement dwellers.
34:08
Everything above gold and silver is fake.
34:10
Synthetic fake. Believe Unicorn fart dust, right
34:14
stocks right overvalued. I mean, remember the data from
34:18
yesterday about NVIDIA? You know, NVIDIA like the AI
34:22
stock. That's why it's it's it's value
34:25
is like 12% of the nation's GDPI mean, if, if 1% of Nvidia's
34:32
market cap got scared and wanted to go to gold and silver, it
34:37
would it would be it can't handle it right?
34:39
You've heard, I think it's Doug Casey used to say it's like
34:43
trying to drain Hoover Dam with a garden hose, right?
34:50
All that all that money, right? All the water in Hoover Dam
34:54
being all that money, trying to go through 1 little garden hose,
34:58
it doesn't work. I'm not giving financial advice,
35:01
but baby, am I optimistic? Are you optimistic?
35:05
I'm happy you're here. Susie wanted me to put the
35:08
banner up. Hold on here.
35:10
There we go. There's our banner with our
35:12
sponsors and some other information.
35:14
If you get bored watching me, which I know that could never
35:17
happen, read the banner. OK.
35:20
All right, guys. All right, let's move on Here.
35:24
We're in the final. I debate whether we should talk
35:28
about this, but the reality right now for you and I, are you
35:33
a gold investor? Do you own physical gold?
35:36
I do have a little tiny bit. I'm a silver stacker and a gold
35:39
mining stock investor. But the reality for us, this is
35:44
our day. Are we?
35:45
What would it mean? I'll ask you, what would it mean
35:48
if we truly were right now in a transformational time?
35:55
What did President Chinese President Xi say to Russian
35:58
President Vladimir Putin not too long ago, right?
36:03
Those guys are buds, right? They go visit each other and
36:06
they get along. And as they were leaving,
36:08
President Xi said to President Putin, he said we are truly
36:12
living in transformational, a transformational time period,
36:17
OK. And, and you and I are at the
36:20
forefront of the change. Look, I'm an American.
36:23
Look at all my American flags. I love my country, right?
36:25
But we got, I'm just telling you, I'm reporting the news.
36:28
I hope it doesn't upset you. All right?
36:30
I love my country. I love Thomas Jefferson, right?
36:34
The biggest threat to America is not an invading army, but big
36:38
banks, big corporations. I digress.
36:43
If we go off the premise, Can you believe that we are right
36:46
now in transformational times? It's you're not, we don't.
36:50
Again, I'll repeat this. You don't realize that you're in
36:53
a big period of transformation until after you're through it.
36:56
Then you look back, right? I believe we are right and I
37:00
believe you are probably smart enough to realize this as well,
37:03
that we are in a transformational period as part
37:07
of that. What does that mean for precious
37:09
metals, right? Are we in the final cage match
37:15
between the US dollar and gold and silver?
37:19
Don't forget, guys, that that that that we were on the gold
37:24
standard, the silver standard in this country.
37:26
It worked, it was wonderful, it was great.
37:28
OK, but now right in in Bank of America.
37:33
What did Bank of America recently tell us?
37:35
Bank of America, Let me, I can read it to you because this,
37:38
this is probably the biggest piece of news that only the
37:43
people in the know are talking about.
37:46
OK, And trust me, people in the know are talking about this.
37:50
See if I can pull this up for you quickly.
37:54
Here it is. Here's the quote right here.
37:56
See if I can highlight it. Bank BofA, that stands for Bank
38:01
of America. You probably knew that, but none
38:03
the less and analysts, there's Bank of America analysts
38:07
estimate estimate. Sorry, let me start over.
38:13
Bank of America analysts estimate gold has now surpassed
38:18
the euro to become the world's largest reserve asset, second
38:23
only to the US dollar. Guys, we precious metals
38:27
investors, we are in the final innings or we're into getting
38:33
into the final innings, the final cage match between the
38:38
dollar and precious metals. It's happening.
38:42
OK, Now what could speed this up the bricks, right?
38:46
Some type of financial crisis. We saw what happened when Japan
38:51
just tried to raise their interest rates by like what, a
38:53
quarter .4 or five Mondays ago? It was the end of the world as
38:57
we know it, right? I mean, so that could speed
39:02
things up. But I want you to think about
39:04
this. I want you to envision you and I
39:06
go to Las Vegas, OK? We go to a boxing match.
39:10
It's that final cage match between the US dollar and in the
39:14
other corner, precious metals. And we need to make a bet,
39:18
Right. OK.
39:19
So we're we're listening to what the analysts are saying, and
39:21
they're pointing out some interesting things to us.
39:24
What does it mean to you that if you want to bet your money on
39:27
the US dollar, they're going to say, well, the US dollar's been
39:30
around for about 200 years. Whoa, That's a long time.
39:34
It did great when it was backed by silver and gold.
39:37
However, it's no longer backed by silver and gold.
39:40
And in the 50 or so years since it's not been backed by silver
39:44
and gold, it's lost about 98% of 99% of its value relative to
39:50
gold. That's the one corner you can
39:53
bet on the dollar, right? If you if you hold these, uh oh,
39:57
I lost my dollar. If you hold these.
40:01
You're betting on the dollar. If you've got money in a bank
40:05
account and I've got some money in a bank account, OK, I'm not,
40:08
I'm not. You know, I, I have to use these
40:10
to live. That money is a bet on the
40:13
dollar, betting that it will keep its value.
40:15
But in the other corner, we have gold and silver, not 200 years.
40:21
They've been around 5000 years, 5000 years and they have a near
40:27
perfect, but there's more, There's more that, but they do
40:30
have a near perfect track record of holding their value.
40:36
Remember in Bulgaria last week somebody dug up some gold coins
40:41
that were 1500 years old. Your great grandpa to the 99
40:47
millionth degree lost 5 gold coins and some archaeologists
40:51
found them. Guess what, Buttercup?
40:54
You know those are still excuse me.
40:57
And I hope you don't mind me saying, Buttercup, that means I,
41:00
I like you. Those coins are still worth as
41:03
much today as they were 1500 years ago.
41:05
Probably more. So I digress.
41:09
Gold, silver in this corner, 5000 years, perfect track record
41:14
of maintaining value. But there's more, right?
41:18
Because think about this, the same fight that we're about to
41:22
witness between paper dollars, electronic backed by nothing,
41:26
dollars and silver and gold. Silver and gold had been in the
41:30
same fight with other Fiat paper currencies hundreds of times.
41:35
I was talking with Lynette Zhang and I said it hasn't it been in
41:38
the same fight? Hundreds?
41:39
She's like, yes, thousands of times.
41:42
And I got news for you. Gold and silver have won every
41:47
single time now. Maybe.
41:49
Yeah, things are different. OK, But who are you going to bet
41:52
your money on for me? It's easy, OK?
41:55
And they aren't going to tell us.
41:57
They aren't going to warn you. These people, right?
42:01
These people. Where is she?
42:03
Why? She gets a double, double
42:04
feature, Janet, right? She's not going to warn you that
42:10
things are bad, right? Things like the US debt clock,
42:15
people like me, right? But don't look, look, do your
42:18
own work, do your own, develop your own thesis.
42:21
There's books, right? The creature from Jekyll Island.
42:24
Somebody was telling me about that last night.
42:25
There's a, there's a lot of people with different opinions,
42:28
but they aren't going to warn you.
42:30
I got news for you. Remember when we had that little
42:33
banking crisis back in? When was that?
42:36
Like a year and a half ago? Silicon Valley Bank, silicone,
42:40
whatever it is, I apologize to you.
42:42
I don't pronounce a lot of words properly, but Silicon SVB, they
42:46
went belly up. OK, the weeks before, the months
42:52
before they went belly up. OK, guess what?
42:56
When you walked into their bank branch, there wasn't, you know
42:59
what? Every time you go into a bank, I
43:00
want you to think about the last time you've been into a bank.
43:02
When you go into a bank, there's always that, what do they call
43:04
that placard or that sign with all these, you can get the Super
43:08
platinum checking and they always, they always.
43:12
This is great. This is ironic.
43:19
Those placards they have in the banks, right when you walk in
43:22
super platinum, checking platinum, gold savings, they
43:27
always refer to precious metals. Think about that.
43:30
I never thought about that before.
43:32
I could go to my bank right now. I do love my bank.
43:36
Nice people. I've known them for 25 years.
43:38
I can walk there, but when I when I walk up, it's always
43:41
signs, you know, gold checking platinum.
43:45
Why do they think about it? Why do they refer to their
43:49
Unicorn fart does paper accounts at in in terms of precious
43:54
metals? It's pretty it's pretty
43:55
interesting. I digress.
43:57
They aren't going to warn us. This is going on this cage match
44:01
between the dollar and gold. No, they aren't.
44:03
And they're going to put up a massive, massive fight.
44:07
OK, just like Silicon Valley Bank didn't have placards in
44:11
their lobby for the months before they went belly up
44:14
saying, warning, we're having financial troubles, you may want
44:17
to consider taking your money out of our bank.
44:19
No, there was no warning. OK, no warning.
44:24
I'm not saying the sky is falling.
44:26
I'm not saying, but the sky could fall, right?
44:32
The sky could fall all right. Are we almost out of gold?
44:35
This is another crazy thing to think about as gold and silver.
44:40
Are we almost out of silver? We know that answer.
44:43
But what about gold? We don't, we don't examine gold.
44:46
Are are we as the world really running out of gold?
44:49
And I want to run out? This is a fascinating article
44:53
that talks about the situation going on in the gold market
44:57
right now. That is something that we're,
44:59
again, not hearing many people talk about this.
45:03
This came from, excuse me, mining.com.
45:08
OK, dearth of, I think a dearth means shortage of quality new
45:14
gold discoveries puts supply growth under threat.
45:19
This is a report. Look at that, you probably got a
45:22
nugget bigger than that sitting in your basement, don't you?
45:25
I know what you're up to. In recent years, gold
45:29
discoveries around the world have become more scarce and
45:33
smaller in size. More scarce, smaller in skies,
45:38
dampening the outlook for future supply of the metal.
45:43
According to the latest analysis by S&P Global, the new report
45:49
shows that there have only been five major gold discoveries
45:53
since 2020. Only five guys in the last,
45:57
what, five years? Adding about 17,000,000 ounces
46:02
to the firm's database of gold discoveries.
46:06
So look at this chart. Let me pull this up.
46:09
OK, the black line, the important thing to look at.
46:13
There's two important things. Hold on, let me we're going to
46:15
draw some pictures. This is going to help propel the
46:19
gold and silver price even higher.
46:21
Do you agree with me If you don't leave a comment, send me
46:25
an e-mail. But to me this is undeniable
46:29
proof that that the that the gold price is going to go
46:32
higher. This this dotted black line is
46:36
gold exploration budgets and billions of dollars.
46:40
If we go back to 2001 and we look, definitely there's an
46:46
upswing in the amount of money being spent on exploring for
46:51
gold. However, if we also look at
46:55
these shaded yellow lines, those are the gold discoveries.
46:58
And look, I mean, it is, it is absolutely stunning to look and
47:04
see that the amount of gold being discovered is going down.
47:10
So the, the the black dotted line is the amount of money
47:13
being spent. They're spending more and more
47:16
billions of dollars in the amount of gold being discovered.
47:20
The guys, this represents the future supply of gold.
47:24
OK, think about it. Where's the gold going to come
47:28
from? Huh?
47:30
Right. They're spending more and more
47:32
money to try to find gold and they're finding less and less.
47:36
We there's more we're going to talk about in that article, but
47:38
this is a great time for me to mention our two mining company
47:42
channel sponsors. Actually, first Mining gold is a
47:45
development stage mining company.
47:47
They've got 2 multi million ounce projects in Canada, spring
47:52
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47:55
They've already been drilled. The gold's already been found.
47:57
It's already been defined. OK, it's in the development
48:01
stage, meaning the permitting phase, right?
48:03
There are very few projects of the size and scale, especially
48:08
in Canada. If you want to learn more about
48:10
first mining gold, you can go to their website, link in the
48:13
description and you can e-mail Paul Morris, their director of
48:17
investor relations and Fortuna Mining, Boy, do they have a lot
48:20
of gold and silver and they're actively mining it right now in
48:24
Latin America and West Africa. Let's go back.
48:28
You can learn more about them at their website.
48:30
Let's go back to this article because there's more.
48:33
There's more to be found as the is the world running out of gold
48:39
and what are the implications of that?
48:42
You know the implications. We know what's going on with
48:46
silver and the silver stats are are the same thing.
48:49
S and PS Report noted that while the number of discoveries and
48:54
amount of gold continue to grow each year, most of the assets
48:57
were discovered decades ago and only recently met its criteria.
49:02
So a lot of the stuff that is being discovered, quote UN
49:05
quote, was actually discovered decades ago.
49:08
It also pointed out that the average size of the recent gold
49:12
discoveries has shrank at about 3.5 million oz, compared with
49:17
5.5 million oz during the 2010 to 2020 time frame.
49:23
In fact, none of the discoveries made over the last 10 years
49:27
entered the list of the 30 largest gold discoveries.
49:32
What is that telling us? To me it's pretty clear, right
49:37
that the supply of gold as we move out and and are they going
49:42
to tell us that later in this article?
49:44
We're all be prepared, OK? The trend, said Paul Manalo,
49:50
supports the firm's long, long held view that the industry's
49:54
focus on older and known deposits limits the chances of
49:58
finding huge gold discoveries in early stage prospects.
50:01
Quote, the lack of quality discoveries in recent decades
50:05
does not bode well for the gold supply, said Manalo Manalo,
50:11
Manalo Manalo. Based on the latest monthly gold
50:16
commodity briefing service, we expect gold supply to peak in
50:22
2026. Peak gold, guys, remember peak
50:26
oil, peak gold 2026 at 110 million oz, driven by increased
50:32
production in Australia and Canada and the US.
50:35
He went on to add that gold supply is expected to fall to
50:41
103 million ounces in 2028. Wow, that's a pretty big drop.
50:48
2026, a 110 million, and it's going to drop in two years by
50:54
what, 6% probably to 103 million oz.
50:58
So all of this is telling us only one thing, whether we're
51:03
talking about gold, whether we're talking about silver,
51:08
right? Do you realize, right?
51:10
Do you realize this stuff here, this stuff, this came from Coin
51:15
Shop Chris, our friend coin shop.chris@coinshopchris.com.
51:21
There is no coin Shop chris.com. There is a Coin Shop Chris
51:24
YouTube channel if you want to get the latest, but nonetheless,
51:28
there's only this only so much on the planet.
51:32
They aren't making any more of it.
51:34
The planet only has so much. It only has so much gold.
51:38
I don't have any gold I can show you right now.
51:40
But anyway, you know what I'm saying right when you own
51:43
silver, when you own gold, how does that make you feel right?
51:47
You own something. They they can't be printed.
51:52
You can't press a key on a keyboard and make more of it.
51:56
No, guys. It's limited.
51:58
It's scarce. It's finite.
52:00
That's the fancy word. Finite.
52:02
There's a finite supply of gold and silver on the plan on on the
52:06
planet. Let's go out to our viewer
52:08
comment of the day. This was a great one from our
52:11
friend Denny. Denny, the coffee man.
52:14
Oh, boy. I'm in.
52:16
Pfc. Hold on here.
52:19
How did I do that? Hold on.
52:22
And the stage. OK, All right, got it.
52:27
OK. Sorry, guys, I just learned
52:28
something. Hey, look, there's Susie.
52:31
Everybody say hi to Silver. Susie, there we are.
52:34
That's the last time we went out to lunch and we were drinking
52:37
water because I have a conniption fit if we drink soda
52:40
because it's a RIP off at restaurants.
52:43
Oh, boy. Here.
52:46
Hold on this, my friends, while we're here, right?
52:50
This is the price of silver in Argentine pesos over A2 year
52:55
period. Just look at that.
52:57
That's what happens when a currency fails.
53:00
But that's not what we're here for.
53:03
It's red. It's going to pop up soon.
53:05
There it is. Read that.
53:08
I mean, this just shows us how the dollar has lost value.
53:14
You can't argue on November 5th of 2020, less than four years
53:20
ago, OK, mortgage rates were at 2.75%.
53:24
Doesn't I mean, where are they at now?
53:26
I think they've come down, but they're like 6 or 7%.
53:28
They're double, double, double. Look, don't look at me, look
53:33
over there, OK? And gasoline, fuel, petrol.
53:39
It was $1.80 a gallon. Does anybody call it filling
53:41
station? I'm gonna get in trouble here.
53:46
My mom and dad. My mom watches.
53:49
Hi, Mom. I appreciate you being a
53:51
basement dweller, but we were at a softball game over the weekend
53:54
and my mom was talking my. They were talking about a
53:56
filling station. They call gas stations.
53:59
So 4 less than four years ago, basement dwellers, you could go
54:03
to a filling station and get gasoline for $1.80 a gallon.
54:07
We all say things differently. I I love my mom more than
54:10
anything in the world. She's a bit funny.
54:12
So what does that tell us, though?
54:14
What's the take away there? It's pretty obvious this thing
54:20
is going down in value. OK, this this.
54:26
OK. Oh, it's missing something.
54:28
You know what? It's missing.
54:29
Hey, guys, this is heartbreaking for us.
54:33
This. Do you notice anything different
54:35
on this one? See that up at the top?
54:39
What does that say? Oh, silver certificate?
54:45
Oh, yeah, 1935. There you go.
54:55
You see that this was redeemable for silver, huh?
54:59
I wonder if that would have happened, would Vinny?
55:01
Thank you, Vinny. Vinny the coffee man.
55:03
Vinny, along with the coffee company in Miami, buddy of mine,
55:07
anyway, would that have happened?
55:09
What we just saw, right? Gasoline and gas is cheap right
55:13
now, right? 280 a gallon here in Saint
55:15
Louis. Would that have happened if we
55:19
still had our dollar said silver certificate at the top?
55:24
I don't think so. I don't think so, right?
55:28
And I wonder, this is great, but I wonder what was let's go look,
55:34
let's go. I may, I may look like a
55:35
complete fool here, but let's go look, right.
55:38
If, OK, so the, let's say the price of gas has gone up 30%.
55:45
Yeah, roughly, right? Maybe 40%.
55:48
Let's go look and see from November of 2020 how much silver
55:53
has gone up. Did silver keep up with the
55:55
price of gasoline? I could be, I could look like a
55:58
little more foolish than I may already look right now let's go
56:02
take a look and see if that was indeed the case.
56:06
So let's get rid of the the debt clock.
56:10
Oh, man. Look, guys, the national debt
56:12
went up, more surprise, surprise, surprise, but the pet
56:18
dollar to silver ratio still at 531, OK, That's not what we're
56:22
here for. We're going to do this quickly.
56:24
We're going to check and see if if the price of silver kept up
56:31
with the price of gasoline. Come on, come on, baby, don't
56:36
fail me now. There we go.
56:41
Gold down $12.00. What?
56:44
That's not good. OK Silver down three cents.
56:48
No. OK, This is the silver's futures
56:51
market. But let's go look November.
56:57
I'm just curious if silver would have kept up with the increase.
57:02
We'll go to Max. We'll go to full screen, OK, And
57:10
we'll go back to that'd be five years, so we'll do five years.
57:15
2020 Well, I don't know, maybe it didn't.
57:19
OK, November we'll go to this date, we'll be selective.
57:25
Let's say in November the price of silver was about $23 the
57:32
price. So, so November of 2020 when gas
57:34
was $1.80 and we're going to say gas is up what, 3040% and we'll
57:40
say that the price of silver was around, we'll say $22.00 and now
57:46
it's at 30. That's eight, yes.
57:50
I mean, the price of silver we, I think we could easily say is
57:52
up 30%. So during that same time period,
57:56
right, where we, where we had gas go from $1.80 to where it is
58:00
today, the price of silver definitely kept up, right?
58:04
I mean, we'll, we'll take a win. We, we did some rounding and
58:09
actually more, maybe even more than kept up.
58:12
I don't know if I have time. I'll dig into it later.
58:14
I do know one thing for sure, I'm really happy that you guys
58:19
decided to join me today. It's a big deal that you come to
58:23
the basement tomorrow is the Super Bowl for the gold and
58:28
silver markets for the, for the Fed with their interest rate
58:31
cuts. It could be crazy.
58:33
Be prepared right? We could.
58:36
It's going to be most likely a very volatile day.
58:41
Are you ready? Can you deal with it?
58:43
But you think about it, I want you to think about this.
58:45
We've been through so much together already.
58:48
I mean, we've been through some crazy times, basement dwellers,
58:51
big massive down days in the gold and silver market, big
58:55
massive up days. Our foundation remains solid and
58:59
we know what our foundation is made out of, right?
59:02
Our foundation is made out of this silver, gold, precious
59:08
metals, right? We're like that upside down
59:11
pyramid, right? John Extra's pyramid.
59:13
They aren't going to shake us. And no matter what happens
59:16
tomorrow, we're going to be OK. No matter what happens tomorrow,
59:21
I'll be back on. I'm going to be kind of on the
59:23
road a little bit tomorrow at one point.
59:25
So I may be at a remote location, but I'll be back and
59:28
we'll do a kind of a recap and gather ourselves after what
59:32
happened. Most important, thank you guys
59:34
for being here. Thank you for being part of
59:36
Ron's basement. It's a big deal.
59:38
Thank you to our moderators, Jake from Jake's Custom Parts,
59:41
Annie Oakley, Big Tim, the Silver Shire, and I think
59:45
silver. Susie got irritated with me and
59:47
took off for a walk. But thanks to Susie as well.
59:50
We love all you guys. You're a part of the group when
59:53
you're here in the basement. OK, You can call yourself a
59:55
basement dweller. We know you're also a you.
59:59
You're the biggest part of the basement.
1:00:01
OK? You're part of the club.
1:00:03
You're welcome. Here and I'll look forward to
1:00:05
seeing you next time.