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⚡ALERT⚡ This is Why SILVER and GOLD Are positioned Like NEVER Before! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  A watershed moment for the silver and gold price.
• 0:05
  Isn't that what we're really talking about, guys?
• 0:08
  Let's listen to what the Fed says, but realize they're half
• 0:11
  full of poop and will discern the other half of the story.
• 0:16
  But this is a critical, pivotal moment for US silver and gold
• 0:22
  investors. We heard this recently from the
• 0:24
  Feds. Goolsbee, it's almost Halloween.
• 0:29
  I believe that's the Chicago Federal Reserve president, Mr.
• 0:33
  Goolsbee. He supports the Fed's new focus
• 0:37
  on the job market and inflation is on path to 2%.
• 0:41
  That's according to CNBC. He said Goolsbee that that
• 0:47
  policy is now at its tightest point of the entire hike cycle.
• 0:52
  We got a couple critical things to talk about with the Fed and
• 0:55
  their interest rate policy that you're going to like when it
• 0:58
  comes to silver and gold. But, Goolsbee added, the feds
• 1:03
  forecast show widespread support for rate cuts.
• 1:06
  Widespread support and the current fed funds rate is set
• 1:11
  for different economic conditions.
• 1:14
  If we get a half percent Fed fund rates, half percentage
• 1:17
  point cut in September, Katie, bar the door, it's going to be
• 1:21
  party time. Basement dwellers, you're going
• 1:23
  to see silver and gold move precipitously to the upside, if
• 1:27
  that's possible. It's going to go way up.
• 1:29
  Your silver and gold value is going to go through the roof.
• 1:33
  And now the Fed, whatever they're called, governors, I
• 1:37
  don't know. There's two of them in Missouri.
• 1:39
  Doesn't make any sense. My home state, we're
• 1:41
  broadcasting today. Wherever you're located, I'm in
• 1:44
  Missouri. And could you believe that the
• 1:46
  state of Missouri has two Federal Reserve Banks?
• 1:49
  That doesn't really make sense. I think New York has one,
• 1:52
  Illinois has one. None the less, I digress.
• 1:56
  Why is this a big deal for us? Like I said, right, We get a
• 2:02
  half percent cut. But think about this.
• 2:04
  Remember what we talked about? We know, right?
• 2:07
  This guy. This guy, where is he?
• 2:09
  Here he is. Let's get him out.
• 2:11
  This guy is at least. Hi, everybody.
• 2:16
  Welcome to the basement. Welcome to the live stream.
• 2:19
  I'm Jerome Powell. I'm Ron's special guest today.
• 2:22
  He's half full of poop. I used to have a poop.
• 2:25
  Yeah. Here Susie's not home, so I can
• 2:29
  do this. That's, you know, that's that's
• 2:33
  this. Put it in there, OK.
• 2:36
  And then that's what's going on because because think about
• 2:42
  this, think about this. All those rate hikes that they
• 2:46
  did over the last two years that the Fed did, they have a lag
• 2:50
  effect. Right now, baby, we are in the,
• 2:53
  we are just entered that period of time when all those rate
• 2:57
  hikes have really taken effect. They all take 12 to 18 months to
• 3:02
  take effect. They have taken effect.
• 3:04
  The economy is crashing or tomorrow we're going to talk
• 3:07
  about the Great Depression. Are we headed for another Great
• 3:13
  Depression? Can you stomach that idea?
• 3:15
  You better get used to it because we could be there's
• 3:18
  nothing, there's no where does it say where, where, where,
• 3:22
  where, where is it written, guys that we can't have another Great
• 3:25
  Depression? We could certainly have a So
• 3:28
  right now we are feeling the full effect.
• 3:31
  The Fed is going to flippity, flip flop, flop, however you
• 3:35
  want to say it, pivot, adjust their sales and we are going to
• 3:39
  go flying higher in silver gold. Now, of course, I don't have a
• 3:43
  crystal ball, but I'm usually right about things, sometimes
• 3:47
  definitely wrong as well. But I feel strongly as we move
• 3:51
  into this next 3-6 months it we're we're in for some good
• 3:55
  times, OK, The other thing got me thinking, got me thinking
• 3:59
  about something. I wrote this out for you.
• 4:01
  OK, the the Fed was like hyper focused on fighting inflation
• 4:09
  over the last two years, right? Well, guess what?
• 4:12
  Have you thought about this? It's inflation they created on
• 4:16
  purpose. I mean, how can you?
• 4:18
  But during the C19 crisis, they printed like 40% of the currency
• 4:23
  of dollars of this stuff, right? Right.
• 4:26
  What do we call it yesterday? Fantasyland money?
• 4:28
  Or that's not it. That's a silver certificate.
• 4:31
  I'm I'm wrong. Remember back in the day?
• 4:35
  Come on, focus for everybody, please focus.
• 4:38
  Damn camera. There it is.
• 4:42
  Silver certificate, right? That's the wrong one.
• 4:47
  They printed 40% of this stuff, right?
• 4:51
  During the season, they created the inflation.
• 4:53
  They know. I mean, come on.
• 4:54
  And you don't have to be Albert Einstein to realize that if you
• 4:59
  create 40% more paper money, right?
• 5:02
  That the that the price of real things, real things like food,
• 5:07
  real things like fuel, real things like silver and gold,
• 5:15
  that the price is going to go uppity, uppity, uppity, uppity.
• 5:18
  And now they're trying to tell us, right, that they really now
• 5:21
  they're giving up on the fight on inflation.
• 5:23
  But realize that all this big fight on inflate, they created
• 5:28
  the inflation. That's like a fire, a fire
• 5:30
  department that goes out and sets a fire so they can go put
• 5:33
  the fire out. That wouldn't make sense.
• 5:37
  Does the Fed make sense? All right, let's talk about that
• 5:40
  a little bit deeper. OK, the only way they're going
• 5:42
  to have they want here's the here's the bottom lines.
• 5:44
  The big take away that is fundamental for people like me
• 5:49
  and you to understand, OK, Absolute fundamental core as a
• 5:55
  silver stacker and a gold bug and a platinum protect, whatever
• 6:00
  platinum lever. What's critical for us to
• 6:03
  understand and realizes the absolute truth, right, is that
• 6:07
  the Fed wants inflation. They need inflation.
• 6:12
  The only way that Jerome's little game keeps going despite
• 6:16
  what he says, which remember, is 62.4% BS.
• 6:21
  The only way the game goes on is if they deflate away the debt,
• 6:25
  if they create inflation. Now take a step back and think
• 6:30
  about this. What is inflation?
• 6:34
  It's the value of the of this stuff going down, right?
• 6:40
  It takes more of these to buy a gallon of milk or a gallon of
• 6:43
  gas or whatever you want to buy. Homeowners insurance, comic
• 6:47
  books, whatever floats your boat.
• 6:48
  I don't care. It takes more of these right to
• 6:52
  buy it, right? Because the values going down,
• 6:55
  that's called inflation. And that is the primary, the
• 6:59
  primary concept that US stackers, US silver and gold
• 7:02
  enthusiasts need to understand. That's absolutely happening.
• 7:05
  But let's go see what CNBS, I'm sorry, CNBC is telling us about
• 7:11
  what's going on. Because if we get a half
• 7:14
  percentage cut point, wow, 1/2 percentage point cut, we're in.
• 7:21
  We're in for it. OK.
• 7:23
  I don't know. We're going to have too many
• 7:25
  people partying down here in the basement.
• 7:27
  CNBC says markets are now wondering whether the Fed might
• 7:31
  cut by 1/2 point in September. Oh, really, CNBC, You know, when
• 7:38
  I saw this picture, what do you think when you see this picture
• 7:42
  of? I almost said Alan Greenspan.
• 7:44
  I'm getting a little old, folks. We're all getting a little
• 7:47
  older. By the way, my parents had their
• 7:49
  60th wedding anniversary yesterday.
• 7:51
  We had a party for him. It was great.
• 7:53
  Mom watches the live stream. So please in the comments, tell
• 7:56
  Mom happy and Dad happy 60th anniversary.
• 8:00
  Although I don't think Dad watches the live streams because
• 8:03
  he probably listened to me talk enough when I was a young man.
• 8:06
  Anyway, what do you think of back to this?
• 8:09
  Doesn't he look like I think maybe he's sitting on a toilet?
• 8:12
  He looks worried. Poor boy.
• 8:14
  OK, this, this article is chock full of compelling information
• 8:21
  That and then and then some astounding lies Miss Truce that
• 8:28
  I'm going to point out it commonly accepted as true.
• 8:31
  But in my opinion, Miss Truce, I don't want to accuse CNBC of
• 8:34
  anything like that. With the Federal Reserve Jerome
• 8:37
  Powell all but confirming that an interest rate cut is
• 8:40
  imminent, the market's attention Friday quickly turned to when
• 8:45
  and by how much traders continued to price in a greater
• 8:49
  likelihood that the Fed will kick off what is expected to be
• 8:52
  a protracted easing campaign in September.
• 8:58
  OK, so that's what everybody thinks.
• 8:59
  September with a quarter percentage percentage point gut.
• 9:03
  However, in yellow, the odds of something even more aggressive.
• 9:09
  Make sure I got you on there, which I do even more aggressive,
• 9:13
  like 1/2 point move, which would absolutely light the fuse on the
• 9:19
  biggest gold and silver bottle rocket that you've ever seen.
• 9:22
  It grew quickly and we're around a one to three chance of
• 9:26
  happening. Market participants see the
• 9:28
  chance of particularly of as particular particularly likely
• 9:34
  should the August jobs report. OK, so they're saying now guys
• 9:39
  that the August jobs report, that's going to be the biggest
• 9:41
  piece of news for silver and gold in the history of the
• 9:44
  universe. When we get the August jobs
• 9:47
  report, which is going to come out September 6th.
• 9:50
  If they proved to be a repeat of the weaker than expected reading
• 9:53
  in July, the feds next move, a meeting kicks off less than two
• 9:58
  weeks later. OK, I need to look you in the
• 10:00
  eye and we need to talk about something.
• 10:03
  Are we dumb? Do they think we're dumb?
• 10:06
  Huh. No, we're not dumb.
• 10:08
  Think about this. Think about this, this whole
• 10:11
  idea that the next interest rate cut will be determined by the
• 10:16
  August jobs number, OK. And what?
• 10:18
  We're almost at the end of August, so we're going to get
• 10:20
  that for not what, two weeks from now?
• 10:22
  September 6th. What did we learn last week?
• 10:28
  Oh, yeah, We we learned that all those great by Dynamics jobs
• 10:34
  numbers that they gave us from March of 2023 through March of
• 10:39
  2024, a full year's worth of by Dynamics.
• 10:44
  It's working, right. Remember that?
• 10:47
  Oh, the economy is stronger than ever.
• 10:49
  Yeah. Here.
• 10:51
  Remember her? She hadn't been out of her box
• 10:54
  for a while. The economy is doing better than
• 10:57
  ever. I don't know what's wrong with
• 10:59
  American. The American people.
• 11:00
  Everything's wonderful. OK.
• 11:05
  She fell on the floor. I'll leave that one alone.
• 11:11
  They're trying to tell us, right, the next Fed rate cuts
• 11:13
  going to be based on the jobs number.
• 11:15
  And then they're going to expect that we all believe the job
• 11:18
  number. And then all these guys on CNBC
• 11:21
  and all the job that we created, all these jobs.
• 11:24
  I mean, what a joke. Hello.
• 11:27
  And the reality is you can only fudge this stuff for so long.
• 11:35
  But who knows what'll happen, right?
• 11:37
  I mean, at what point does the general market, at what point
• 11:45
  does the general market, what is that called calling monkey,
• 11:49
  right? I mean, what a joke.
• 11:51
  What a joke. Why don't we hold on if the
• 11:56
  economy's up, end with this with Janet Yellen.
• 11:58
  Janet Yellen, if the economy's so great and everybody's doing
• 12:02
  so wonderful, like you say, from Washington where you probably
• 12:05
  don't even go to a grocery store, what, what do we want to
• 12:08
  say to Janet? Here's what we one thing we
• 12:10
  could say to Janet, tell those 818,000 people, right?
• 12:16
  That don't really have jobs, but that the government says they
• 12:20
  have jobs. So they have what imaginary
• 12:23
  jobs, Unicorn fart does jobs, right?
• 12:26
  Tell those people how great the economy is, 818,000 people.
• 12:31
  That's like taking an NFL stadium 15 times full of people,
• 12:36
  if my math is correct, which I'm sure it is.
• 12:38
  But everything's wonderful. And then they're going to be OK.
• 12:41
  Let's get back to CNBC. Enough of me.
• 12:45
  I hope you guys had a good weekend.
• 12:46
  We had a good weekend here. OK?
• 12:48
  My base case scenario is that we are on a journey of 25 basis
• 12:53
  point cuts probably for the next 8 meetings eight time that'd be
• 12:59
  2%, a couple 100 basis points cumulative.
• 13:02
  That's according to Paul McCauley.
• 13:05
  Paul also said that. But if we see weaker growth and
• 13:09
  particularly weaker jobs, well, Paul, that's not going to happen
• 13:12
  because we already know they got the Bureau of Labor and
• 13:15
  Statistics has this big Unicorn in there.
• 13:18
  They must have a whole, what do they call that a corral of
• 13:22
  unicorns? But they can just squeeze and
• 13:24
  make up, make fully jobs. But just in case, just in case
• 13:28
  even the made-up jobs aren't good enough, like Paul says
• 13:31
  here, and we get weaker jobs numbers, then I think we would
• 13:34
  have a bit of a front loading, which means a higher rate cut,
• 13:38
  which is rocket fuel for gold and silver guys, and start the
• 13:43
  process with 50 basis point cuts.
• 13:47
  Oh, man, what would we do with that?
• 13:49
  CNBC? He goes on to say we've got two
• 13:53
  more things to cover here, Basement dwellers.
• 13:55
  I don't think that the base that I don't think that's the base
• 13:58
  case yet, but clearly he's opened the door for front
• 14:01
  loading of the easing process just like he had front loading
• 14:05
  of the tightening process. So what they're saying is that
• 14:08
  when the Fed raised rates, and I don't remember specifically but
• 14:13
  they raised them by like 3 quarter point a couple times if
• 14:17
  I remember correctly and a half point maybe once or twice.
• 14:20
  Also that if they need to, they could cut rates by half a point.
• 14:24
  What about 3/4? Hey, what the heck, here the
• 14:27
  case for cutting 1/2 point. Several of the chairs statements
• 14:32
  though seemed to be a bunch of oh, I'm sorry, I didn't say that
• 14:35
  seemed seemed to indicate a bias towards swifter action, which
• 14:40
  would mean 1/2 point cut or a three quarter point cut,
• 14:43
  particularly in the jobs picture if the jobs picture continues to
• 14:48
  weaken. OK, we've heard that four Times
• 14:50
  Now, quote, we do not seek or welcome further cooling in labor
• 14:56
  market conditions. Jerome Powell said, oh, wait,
• 15:00
  there's more jobs reports key the number, quote, the numbers
• 15:04
  are starting to move in a direction which suggests that
• 15:06
  our policy has had its effect and we can start the pathway to
• 15:10
  return back to normal policy posture.
• 15:13
  This is Bostic who's he's one of he's from Atlanta.
• 15:17
  I think it is. Look, look, here's what Bostic
• 15:20
  said. Look, I went to an Ivy League
• 15:23
  college. I'm sophisticated.
• 15:25
  We can't wait until inflation is at 2% itself to start moving.
• 15:31
  OK, Mr. Bostick, so you're telling us you're giving up on
• 15:35
  the you're you you were you were so kind to middle class America
• 15:40
  over all these years that the paper right Fiat Unicorn fart
• 15:43
  does paper dollar was only going to lose 2% of its value.
• 15:47
  But now you're giving up on that because he says we can't wait
• 15:50
  until inflation is a 2% itself to start moving.
• 15:54
  Inflation has come way down. So that tells me that we have to
• 15:58
  really think hard about that. Yeah.
• 16:00
  Think hard about how you've stolen so many trillions from
• 16:06
  99% of the American people. But I digress.
• 16:08
  Paul's comment that the quote direction of travel is clear.
• 16:14
  Yeah. Is this going to be one of those
• 16:16
  times, guys where like we look back a year from now and we say,
• 16:20
  yeah, look what? Look what Gomer Pyle was saying
• 16:24
  at the at the black hole or Jackson Hole, whatever.
• 16:29
  The black hole, the Jackson Hole summit, right?
• 16:32
  He said the direction of travel's clear, both signaled a
• 16:37
  rate cut and both signaled a rate cut and that the door was
• 16:41
  open to moving 50 basis points to move the funds rates closer
• 16:46
  to a level that is still restrictive relative today,
• 16:50
  today's economic and inflationary conditions.
• 16:53
  So that wasn't Gomer, that was Rick Reader, CIO of BlackRock
• 16:58
  Global fixed income team. CIO, Sorry, said in a note to
• 17:03
  clients Paul's comment that the direction of travel is clear,
• 17:06
  both signal the rate cut and that the door is open to move.
• 17:09
  OK, so he's saying 50 basis points, man, guys, when we get
• 17:14
  if we get 50 basis point cut, woo Hoo, party time, we'll do
• 17:19
  something special, I promise you.
• 17:20
  OK, One thing that is special is you being here now.
• 17:25
  You are the most absolute you yes, you, yes, you right are the
• 17:31
  most important part of the basement.
• 17:32
  Thank you for being here. Please subscribe to the channel
• 17:36
  if you haven't already. It's good for our morale around
• 17:41
  here. We'll leave it at that, OK?
• 17:43
  And it's free. And don't forget, turn on the
• 17:45
  bell notification. Super, super Thanks are always
• 17:47
  super super chats are always super appreciated.
• 17:49
  And please give this a thumbs up.
• 17:52
  No more begging for the rest of the show.
• 17:54
  I I beg you guys. Hey, Dustin, thank you for that
• 17:57
  super chat, my friend. OK, what about Bloomberg?
• 18:02
  Make sure I hit all these important points.
• 18:05
  There's the notes for today. They gave up on UPS on
• 18:09
  inflation, OK? They gave up on inflation.
• 18:11
  That's what they're giving up. They they don't really want to
• 18:13
  fight inflation. We've covered that ad nauseam.
• 18:15
  The second big thing going on right now is the jobs report
• 18:20
  from the Bureau of Labor and Statistics.
• 18:25
  OK, the Fed is in a box. the Fed is for of a crude way to say it.
• 18:30
  They're screwed. OK, there's this thing called
• 18:33
  the national debt. So we're it's going to be a good
• 18:36
  environment for gold and silver. Let's go to Bloomberg.
• 18:39
  Bloomberg points out three big factors about Bloomberg.
• 18:44
  Guys, the mainstream media is starting to pay attention to
• 18:49
  gold and silver. What does that tell us, Right.
• 18:52
  The mainstream media had ignored gold and silver.
• 18:56
  We know now, right now that we have $2500 gold, $30 silver, and
• 19:01
  we're going to talk about later the incredible statistic about
• 19:06
  $30 silver and why you need to be more optimistic, both of us,
• 19:11
  you and me. OK.
• 19:12
  But now Bloomberg's talking about precious metals and
• 19:16
  they're saying they're giving us information from Goldman Sachs,
• 19:20
  UBS and Citibank and Sprott. This is Bloomberg, this is a
• 19:25
  headline story. Let's go there right now because
• 19:28
  guys, it is getting interesting. Let's go out the pin backs
• 19:33
  first. I don't think we've been out
• 19:34
  here yet today. We need to take a check on the
• 19:37
  silver and gold price. We're going to do an update
• 19:39
  here. I'm going to press the button
• 19:41
  and see if the gold and silver price are moving.
• 19:45
  Hey, all right, going in the right direction.
• 19:47
  Gold up three dollars 2516 silver 2983.
• 19:53
  These are good prices. If you want to get your hands on
• 19:56
  some silver, gold or platinum, please support channel sponsor
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  pin backs. And I don't say support, I just
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  this is really serious. Whether you go with Pinbacks,
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  whoever, please take your time, shop around, make sure you
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  money. And I do believe and I know that
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  if you talk to Pinbacks during that process, you might be very
• 20:54
  pleasantly surprised at what they can do for you.
• 20:57
  Now let's go to Bloomberg. This is crazy.
• 21:04
  It's it's starting to happen. Bloomberg's telling us gold
• 21:08
  bull's delight in Jackson Hole. We're not going to talk a lot
• 21:11
  about Jackson Hole or Powell. We're going to talk about more
• 21:14
  about some several parts of this article that are very, very good
• 21:20
  signs for us as silver and gold investors.
• 21:24
  Gold's record setting rally above 2500 an ounce looks to
• 21:29
  have further to run as the Federal Reserve prepares to chop
• 21:34
  rates. Also, traditional drivers such
• 21:37
  as lower yields on return and Western investors pile back in
• 21:43
  one more quick time. I want to show you at the top
• 21:46
  right above the red part that says gold bulls.
• 21:48
  This is from Bloomberg. OK, now quote.
• 21:53
  Everybody thought the Fed was going to be the last to cut, but
• 21:56
  now they're getting in line, OK? This guy's chief executive
• 22:01
  officer, infrastructure capital and advisors, he recently went
• 22:05
  long. That means he thinks the price
• 22:07
  of gold and silver going up on gold options for the first time
• 22:11
  in years. Chair Jerome Powell's speech was
• 22:16
  a watershed moment. Now, we know back in December
• 22:19
  that was we were, we're always ahead of the curve, guys, right?
• 22:22
  We talked about this back in December of last year.
• 22:25
  We're not going to brag, but we knew that was really the
• 22:28
  watershed moment. But now the mainstream media,
• 22:32
  because they're a little slower than you, OK, they're realizing
• 22:35
  it was a watershed moment. Bullion has dazzled this year,
• 22:39
  setting a procession of records, strong central bank buying.
• 22:43
  I've heard that about 16 zillion times, which is good.
• 22:46
  Plus Asian purchases have offset the drag from a rising U.S.
• 22:52
  dollar, higher treasury yields and outflows from bullion backed
• 22:58
  exchange traded funds. The blue thing here is what is
• 23:01
  critical. I'm sure I've got you guys on,
• 23:04
  which I do now. All three, all three of those
• 23:07
  drivers may run in gold's favor. OK, let's chat and we're going
• 23:13
  to come back to this guys. You got to understand, we got
• 23:19
  it. We got to realize how good of a
• 23:22
  position we're in right now. We're in a good position.
• 23:25
  The sun has come out. The gold price and the silver
• 23:29
  price went on a monster run over the last year and did it in the
• 23:34
  face of adversity. It'd be like you going out on a
• 23:38
  sailboat. OK, imagine you're a sailor.
• 23:41
  You're at the Yacht Club. OK?
• 23:43
  You finished your lunch and your tea, and you're going to take
• 23:46
  your sailboat out for a sail. The wind, and you got a big
• 23:49
  boat. It's a yacht.
• 23:50
  The wind is blowing in your face.
• 23:52
  This is gold and silver. OK, the gold and silver price of
• 23:55
  the last year, The wind is blowing in the face.
• 23:57
  You have a headwind, I think that's called.
• 23:59
  OK. Your boats got a leak in it.
• 24:02
  OK. And your first mate kill again.
• 24:05
  Or whatever you want to call him.
• 24:06
  He's drunk. That's what the gold and silver
• 24:09
  we're trying. Like a boat trying to sail into
• 24:11
  the wind with a leak and a drunk first mate.
• 24:13
  Now the wind has shifted, OK? The leak has been repaired and
• 24:20
  your first mate has sobered up. Welcome to the good old days.
• 24:26
  All right, Look guys, if I told you now this is the 17th and 1/2
• 24:34
  time, but it's so important for us to remember, OK, gold and
• 24:38
  silver went on a 10 year bull run from 2001 to 2011.
• 24:42
  That was only 13 years ago and silver for example, went up over
• 24:47
  10 times over that period. Good things can and will and are
• 24:52
  happening right now. Let's go back to the Bloomberg
• 24:55
  article. I guess that's it.
• 25:03
  All right, well, the guy from the CIO of BlackRock basically
• 25:08
  told us all clear on the on the Eastern front.
• 25:12
  OK, all of this. Wait a minute, There's more in
• 25:17
  there. Hold on a second here, folks.
• 25:19
  Hold on one second. Gold Bulls.
• 25:25
  Is this it? Oh, here we go.
• 25:29
  Yeah, here we are. I went to the wrong article.
• 25:31
  I apologize. Thank you, Susie.
• 25:35
  Susie says we have 200 thumbs up.
• 25:36
  That means we ring ring the bell.
• 25:38
  Oh, yeah, guys, we got to talk about Citibank, UBS and a Spratt
• 25:44
  and one other big bank that are talking about major changes.
• 25:49
  OK, here we go. Here we are in yellow.
• 25:52
  Sorry about that. So far in 2024, Spot gold has
• 25:54
  rallied more than 1/5 with banks including Goldman Sachs.
• 25:59
  And by the way, we know that Ron's basement is often times
• 26:03
  watched on the Goldman Sachs trading desk saying as far back
• 26:07
  as April that prices had the scope to hit $2700 an ounce.
• 26:14
  OK, so Goldman's saying $2700 an ounce among investors, interest.
• 26:21
  Among investors, Interest has become more widespread.
• 26:24
  Hedge funds and speculators have been adding bullish wagers on
• 26:28
  the COMEX. Oh, yeah, they've been buying
• 26:31
  Unicorn fart dust gold and silver anyway, with net long
• 26:35
  bullion positions hitting the highest in more than four years.
• 26:39
  That's according to the Commodities Futures Trading
• 26:42
  Commission. There are also signs that a
• 26:45
  revival. Yeah, that baby, that's what
• 26:48
  we're going to have when silver hits $85.
• 26:50
  A revival in demand for gold backed ETFs holdings in the
• 26:57
  Spyder Gold shares, one of the leading products have expanded
• 27:01
  for the eighth straight week, the longest run of inflows since
• 27:06
  mid 2020. Guys, it is happening, OK?
• 27:10
  The ETFs, that's the biggest. The bottom line is if the
• 27:15
  Western investors, which can be measured by these ETFs, if they
• 27:19
  really start to come back in, there's not enough gold, there's
• 27:23
  not enough silver in the world right now to meet all that
• 27:26
  demand. And we are getting strong
• 27:28
  indications that the Western investors are indeed coming
• 27:32
  back. And now, excuse me, for now,
• 27:37
  Citigroup, they had over 200,000 employees.
• 27:40
  That's just crazy. Sees inflows and the ETS
• 27:43
  expanding significantly over the next 6 to 12 months, with demand
• 27:49
  bolstered by looser monetary policy as well as a potential
• 27:53
  increase in volatility amid recessionary risk.
• 27:57
  Gold may reach $3000 by mid 2025, the bank said in a note
• 28:02
  before Powell made his address. OK Yellow.
• 28:07
  The market can expect large ETF flows as well as ongoing
• 28:14
  speculator speculator almost said spectacular ongoing
• 28:18
  spectaculator speculator demand when the Fed actually makes its
• 28:22
  first rate cut, according to UBS Group, which is like the biggest
• 28:26
  bank in Switzerland, which sees the price at 2600.
• 28:32
  OK. So we're hearing, here's what
• 28:34
  we're hearing, UBS 2600, Citigroup 3000 and what did
• 28:43
  Goldman Sachs says 2700. Are you noticing if my math is
• 28:48
  correct, all those numbers are significantly higher than where
• 28:51
  we are today. So we don't like the big banks,
• 28:54
  but we like what they're saying about silver and gold.
• 28:57
  It's this is in green. It's really notable that people
• 29:00
  are actually starting to move to that physical gold ETF side,
• 29:06
  said Ryan McIntyre, managing partner at Sprott A Toronto
• 29:10
  based Sprott. Like the biggest, we love
• 29:12
  Sprott. Actually they run the PSLV,
• 29:15
  which is the physical silver Trust.
• 29:16
  That's go figure. Actually physical, they have
• 29:22
  3031 billion. Buying through the ETFs is going
• 29:26
  to be a big, big part of gold's story.
• 29:31
  All of this going on while there's something else major
• 29:35
  happening right now in our world.
• 29:39
  And we're going to talk about that next after we say thank you
• 29:42
  to channel sponsor First Mining Gold, Canadian gold developer to
• 29:46
  multi million ounce development stage projects.
• 29:49
  They've already hundreds of millions of dollars have been
• 29:52
  spent on drilling the ground, finding the gold.
• 29:55
  They've already done that. Now they're in the permitting
• 29:58
  process, do big projects in Canada.
• 30:01
  Learn more about them at firstmininggold.com.
• 30:04
  In Fortuna Mining, which is a gold producer, a silver
• 30:08
  producer, they also have great exploration projects that
• 30:13
  they're working on right now. They're spending a lot of money
• 30:15
  on drilling. You can learn more about them at
• 30:18
  Fortuna mining.com. So what else is going on in the
• 30:22
  world right now? So we just talked about this
• 30:24
  kind of numbery fetty type stuff that could really propel the
• 30:28
  price of gold and silver higher. But gold and silver also have
• 30:32
  another primary, primary purpose for which they are utilized.
• 30:38
  And both of them are also used as safe harbor investments when
• 30:42
  the world has gone crazy and the Middle East isn't getting any
• 30:46
  better. I just want to give you a quick
• 30:47
  update here. Lebanon's Hezbollah launched
• 30:49
  hundreds of rockets and drones at Israel early on Sunday.
• 30:54
  Israel's military said it's struck Lebanon with around 100
• 30:57
  jets to thwart a larger attack. Gaza talks in Cairo ended
• 31:03
  without agreement, but negotiations continue.
• 31:07
  The Middle East is a powder keg right now.
• 31:11
  Europe, right? It makes no sense to me that,
• 31:15
  that the, that the Russian homeland has been invaded.
• 31:19
  The, the whole thing, we won't go into the, the bottom line is
• 31:24
  it's those two things are happening.
• 31:26
  They are scary. Then you've got China, Taiwan,
• 31:29
  then you've got North Korea, South Korea.
• 31:31
  It's crazy. But let's shift gears to to
• 31:34
  silver, OK? We talk a lot about silver
• 31:37
  easily going from $30 where we are right now all the way to 44,
• 31:43
  OK? But I want to point out some
• 31:45
  something that is shocking about the silver chart that we
• 31:50
  verbally talked about but haven't visually seen.
• 31:53
  And you're about to see it after we have a little fun, basement
• 31:57
  dwellers. Let's check on the price.
• 32:00
  Could silver go green? If silver goes green, we'll give
• 32:04
  it a honk of the horn. And Nope, down four cents.
• 32:07
  That's OK, $29.83 right now on silver.
• 32:11
  I want to show you something because it's undeniable that
• 32:16
  once silver, if silver stays where it is, I was saying $34,
• 32:20
  but if we get silver above 30 ish, even if we stay where we
• 32:24
  are here for so much longer, we are building a massive base from
• 32:28
  which to have a catapult slingshot price move higher.
• 32:33
  OK, for two reasons. The 1st is this and then we have
• 32:38
  a viewer comment we got to get to is there a silver shortage?
• 32:41
  Wrong one. Here's our viewer comment.
• 32:44
  We're going to come back to that in a second.
• 32:46
  Guys, this is a what, 19, a 50 year chart of silver, OK, starts
• 32:51
  in 1976. Look, I want you to look at
• 32:56
  this. Look at the on the left, the 30.
• 32:58
  That's $30 per oz. OK.
• 33:01
  And I want you to look at the price.
• 33:03
  Yeah, it went above 30 in 1980, right?
• 33:05
  That was, it went all the way up to 50 at one point.
• 33:08
  This is probably a weekly chart, OK, So it's not showing because
• 33:11
  it, and that plays right into this critical point.
• 33:15
  We go over here and from what about 2011, 2008, 9/10/11 or
• 33:23
  about 2011? There's about a two year, one
• 33:26
  year, two year period roughly were silver was above $30 per
• 33:32
  oz. In the last 50 years we've only
• 33:36
  had a higher silver price than where we are right now for about
• 33:40
  two out of the 50 years. That's 4% that is nothing.
• 33:46
  So the big critical take away here to remember right is that
• 33:50
  the longer we stay right now, OK at this level, all the sellers
• 33:57
  are leaving the the party bye bye bye bye.
• 34:00
  We are building a base, a launchpad from which at some
• 34:06
  point now I'm saying it could happen before Christmas, $44
• 34:10
  silver, it could even go higher. I could be dead wrong.
• 34:13
  Don't make any financial decisions.
• 34:16
  Don't bet the farm don't get engaged, don't adopt A Kitty
• 34:19
  cat, anything. Don't do anything based on what
• 34:22
  I'm saying, but I believe that we've got a really strong shot
• 34:27
  at getting above $44 in silver by Christmas.
• 34:30
  Look, nobody knows for absolute sure.
• 34:33
  We look at the charts, we read all the data, we look at a
• 34:36
  number of different factors, a number of different variables to
• 34:40
  come to this conclusion, OK. But one thing that we do know
• 34:44
  for sure again, and it bears report repeating reporting, I'm
• 34:49
  going to report this to you is that the silver price has only
• 34:55
  been above $30.00 for two out of the last what, 50 years.
• 35:05
  We are at all time highs. Congratulations, silver
• 35:08
  investors. All the other factors we talked
• 35:11
  about the Fed monetary policy, you know, the, the, the
• 35:15
  sickening situation with the national debt.
• 35:17
  You know that silver right, we are at all time highs.
• 35:21
  Congratulations, I'll take it. You know yes $32 is critical.
• 35:27
  Yes, $34 is critical, but we are at all time highs right now.
• 35:31
  Anybody who wants to leave the party now would be a good time
• 35:36
  because any of you people out there that bought silver, very
• 35:40
  few of you bought it when the silver price, very few of you, 2
• 35:44
  out of 50 maybe, right? Silver shot up, they can all
• 35:48
  leave, Bye, bye, bye, bye. And that's fine.
• 35:51
  I'm no offense. Hey, everybody's free to do
• 35:53
  whatever they want. But guys, we are building.
• 35:55
  And then on top of that, on top of that, the slingshot.
• 36:02
  This is why silver is just so fascinating.
• 36:06
  The slingshot that's going to occur, OK, because gold, we know
• 36:11
  what Citibank says about gold. 3000 Goldman Sachs, what'd they
• 36:15
  say? 2700 UBS 26 or whatever.
• 36:20
  Gold's not likely going to go down.
• 36:22
  It could, no doubt about it, but not likely.
• 36:25
  OK, so as the gold price in the relationship between gold and
• 36:29
  silver, the gold to silver ratio comes back to reality.
• 36:34
  Right now it's what in the mid 80s, the high 80s takes 80 oz.
• 36:38
  I mean, are you? I mean, really, are you going to
• 36:43
  take 80 ounces of of this stuff this beautiful?
• 36:48
  I love gold, don't get me wrong, but are you going to take 80
• 36:51
  ounces of this eighty of these? Whoa, I just spilled my coffee.
• 37:00
  I'm going to remain calm and continue with the live stream.
• 37:03
  Hurt my elbow too. Anyway, are you are you going to
• 37:06
  trade eighty of these or Susie when I need her?
• 37:12
  I'm just joking. She's always here.
• 37:14
  Eighty of these for one ounce of gold. 90 of them is probably
• 37:19
  more like it. No, you're not.
• 37:21
  Well, you might. And if you do, that's great.
• 37:22
  That's your decision. OK.
• 37:24
  When that gold to silver ratio, think of it like this.
• 37:29
  See this rubber band, right? There's gold, there's the
• 37:33
  silver. It is so stretched at 80, OK,
• 37:37
  when it comes back to let's say normal range 60, even if it was
• 37:43
  60, what would that be right now that would be $40 silver. 60 is
• 37:49
  like high for the long term average.
• 37:52
  That's why if you think of this, is that backwards for you guys?
• 37:56
  I don't know Anyway, this is the silver price.
• 38:00
  It's going to be like a slingshot round, right?
• 38:03
  That's what they call a slingshot move in silver.
• 38:06
  It's going to be fun. It's going to be exciting.
• 38:08
  And are we getting let's talk about.
• 38:10
  I almost forgot to tell you guys.
• 38:13
  Hey, please leave a comment, right?
• 38:15
  We cannot figure you will not figure all this out on your own.
• 38:19
  I will not figure it out on my own together, right?
• 38:22
  We can come up with some awesome ideas.
• 38:24
  And the way that happens is when the magic happens and the magic,
• 38:28
  I sound like Michelle Obama. I feel magic in the air in the
• 38:32
  basement. The magic is when you leave a
• 38:33
  comment. And thank you, by the way.
• 38:35
  So leave a comment. They matter.
• 38:37
  I'm going to pull one up here in a second.
• 38:38
  Your comment, you could be famous on the Internet.
• 38:41
  You never know, right? I pick a random, not a random, a
• 38:44
  comment that I think that that that strikes me.
• 38:47
  And we talk about it here in the basement.
• 38:50
  OK, right, you, but it, it there's magic in the air, you
• 38:53
  could become famous. It could ignite, right?
• 38:56
  A a, a, a period of fame and fortune for you.
• 38:59
  You never know. So let's go pull up that comment
• 39:03
  that I've been promising here. And this comes from one of our
• 39:08
  great subscribers. His name is Neil Ass, never say
• 39:13
  these names. De Laserna family, the de
• 39:15
  Laserna family, good looking guy, he says.
• 39:18
  I live in Texas in the DFWI think that's Dallas Fort Worth
• 39:22
  area and I've gone to many coin shops and I call a few as well.
• 39:27
  He lets his fingers do The Walking, talking, whatever.
• 39:29
  Most shops only have a couple tubes of any rounds, a few bars
• 39:37
  of five oz and then double of 10 ounces, which really isn't that
• 39:42
  much. People are buying it all up,
• 39:45
  Dimes, quarters, half dollars in dollars.
• 39:47
  Now. This sounds like coin chop
• 39:48
  Chris. Is this coin chop Chris in in
• 39:51
  disguise? You know, you guys know Coin
• 39:54
  Shop Chris he's he is concerned about the supply of junk silver.
• 39:58
  Not trying to start a hysteria, just telling you.
• 40:01
  If you want to learn more about it, go to the Coin Shop Chris
• 40:04
  YouTube channel 'cause he left us now he's still a great friend
• 40:07
  of Ron's basement. We're going to support him all
• 40:10
  the way 'cause he's putting out some great content which you can
• 40:12
  absorb at his YouTube channel, Coin Shop chris.com.
• 40:17
  Anyway, people are buying it all up.
• 40:19
  Dimes, quarters, half dollars in dollars.
• 40:21
  Forget about it. Very few, if any right are left.
• 40:25
  This is kind of a good sign. I try to go to at least two to
• 40:29
  three times a week because the silver is starting to run up.
• 40:34
  People are just buying it up. Well, don't we like to hear
• 40:38
  that. Wow, that is awesome.
• 40:40
  Thank you. Thank you.
• 40:41
  The lesser NA family. And again, guys, if you want to
• 40:44
  be famous, if you want to contribute, leave a comment or
• 40:49
  send me an e-mail, OK? If there's something you really
• 40:51
  want me to say or talk about, let's go check out this.
• 40:55
  Is the US dollar dying? Is the US dollar?
• 40:58
  Is D dollarization really going on?
• 41:01
  Let's pull this up and look at this.
• 41:03
  What I found to be startling data coming out of the BRICS
• 41:07
  countries. Oops, Is that working?
• 41:10
  Oh, there's the thing for athlete's foot.
• 41:12
  OK, here we go. All right, we're on there We are
• 41:17
  live. All right, bricks.
• 41:18
  Payments in Chinese yuan surpassed the US dollar by 2.5%.
• 41:25
  What? What are they talking about
• 41:27
  here? Let's go down here, Bricks
• 41:29
  member China is taking full advantage of the US sanctions on
• 41:33
  Russia by pushing the Chinese yuan for trade settlements.
• 41:37
  The US Treasury Secretary Janet Yellen, who was just on the show
• 41:41
  earlier today openly admitted that the sanctions are only
• 41:44
  helping local currencies and hurting the dollar.
• 41:49
  She revealed that it was the sanctions that led the BRICS
• 41:53
  alliance to consider de dollarization and use local
• 41:57
  currencies for cross-border transactions.
• 42:00
  China is already successful in its quest as the Chinese Yuan
• 42:05
  has outperformed the US dollar as the most traded currency in
• 42:10
  Russia. To know how many sectors in the
• 42:13
  US will be affected if BRICS ditches the dollar for trade.
• 42:17
  Chinese President Xi administration left no stone
• 42:20
  unturned in convincing Russia to accept the Chinese yuan for all
• 42:24
  trade payments. The majority of developing
• 42:27
  countries are now paying the Chinese Yuan and the Russian
• 42:30
  ruble for transactions with the country.
• 42:35
  OK, let's just read the data here real quick, bricks.
• 42:37
  Chinese yuan surpasses the US dollar in trade settlements.
• 42:42
  On the left is a paper U.S. dollar, On the right is a paper
• 42:46
  Chinese yuan. I would imagine Russia.
• 42:51
  Russia fully began accepting the Chinese yuan for payment.
• 42:54
  So Russia's taking the one after the US sanctions blah blah blah.
• 43:00
  Several other developing countries, including its bricks
• 43:03
  counterparts India and Brazil, settled trade in the Chinese
• 43:06
  yuan for crude oil. India even saved 7 billion in
• 43:10
  currency exchanges by using the yuan and not the US dollar.
• 43:15
  I would think that if you can save 7 billion and get
• 43:19
  discounted oil, yeah, I can see why they're doing that.
• 43:22
  This is where the data is. The Chinese yuan accounted for
• 43:25
  42% of all the international transactions initiated in Russia
• 43:31
  between 2023 and 24. the US dollar accounted for 39.5% of
• 43:37
  all the cross-border settlements made by BRICS member Russia
• 43:41
  during the same period. the US dollar has decreased by 2.5%,
• 43:46
  making the Chinese yuan the most used currency in Russia in 2023.
• 43:52
  In 2024, what happens what what shock to the system could be
• 43:59
  happening At the end of October, we are 60 days away from a
• 44:05
  potential major, major shockwave hitting the US financial system,
• 44:12
  more importantly hitting the precious metals market.
• 44:15
  That's because at the end of October, October 22nd and 23rd,
• 44:19
  there will be massive big bricks meetings, the BRICS summit,
• 44:24
  BRICS, Brazil, Russia, India, China, South Africa and it's
• 44:28
  going to be in Russia. And there are very, very in the
• 44:32
  know smart people who are speculating.
• 44:35
  So I'm even saying going to level beyond speculating that we
• 44:39
  could see a gold backed trade settlement currency announced at
• 44:44
  this meeting, potential to send potential, not saying it's going
• 44:48
  to happen, but potential to send shock waves through the world
• 44:54
  monetary financial system and shock waves through the gold and
• 45:00
  silver market as well. It's going to be interesting and
• 45:04
  all of that. Think about this.
• 45:07
  What else is going to be going on right around the end of
• 45:09
  October? Basement dwellers, time for us
• 45:13
  to put our thinking caps on. Yeah, we're going to be heading
• 45:16
  into the final weeks of the US presidential election, which at
• 45:21
  this point looks like it will be between Kamala Harris and Donald
• 45:25
  Trump. Things are going to get super
• 45:28
  interesting come October. I mean, real, real interesting.
• 45:33
  And it could be a very, very fun and exciting time for you and me
• 45:40
  to be invested in precious metals.
• 45:42
  OK, Now look, guys, you did something special today.
• 45:46
  We've got 600 people together here in the basement.
• 45:49
  That's a big deal. We are.
• 45:51
  We are the people that are working together to kind of
• 45:55
  navigate this crazy system. But something I like to do for
• 45:59
  you is ring the golden gong when we get to 600 people.
• 46:03
  So hold on for one second while I get the golden gong.
• 46:06
  It will bring us further luck, further fortune as the gold and
• 46:10
  silver price continue their March higher.
• 46:26
  Hopefully you guys can hear that.
• 46:29
  Hopefully sometimes the microphone gets turned into off
• 46:33
  mode or something like that. So hey, thank you for being
• 46:36
  here. You guys are awesome.
• 46:38
  I really appreciate all the support.
• 46:40
  So I appreciate the Super chats, the the moderators, Jake from
• 46:46
  Jake's custom parts, Annie Oakley, Big 10, the Silvershire,
• 46:49
  Susie, all of you, right? But in particular, as we're
• 46:53
  talking here is we're together. Unfortunately, it's virtual, but
• 46:57
  we are all together here in the basement.
• 46:59
  I appreciate it. OK, your support and I want you
• 47:03
  to have a good day. Be nice to yourself.
• 47:04
  Don't forget, please support our channel sponsors.
• 47:07
  We'll see if I can do this right.
• 47:09
  Pembex Pi, MB EX first mining gold and Fortuna mining.
• 47:14
  Have a great day, guys. Thank you.
• 47:16
  OK, I'll see you soon.