Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🌼 SILVER ALERT! 🌼 - YOU Must Hear THIS NEWS - COMEX, China, Squeeze - Gold Price Update

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🌼 SILVER ALERT! 🌼 - YOU Must Hear THIS NEWS - COMEX, China, Squeeze - Gold Price Update · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
Unprecedented times in the world of silver price and gold price
0:05
and precious metal mining stocks.
0:08
We got a number of major factors coming together which are
0:11
corroborating, confluing a confluence if you will, and
0:15
supporting the price moves that we have.
0:18
We're going to talk about the silver chart.
0:20
Will we consolidate above $100? But we got to talk about a lot
0:24
more going on major banks saying very interesting things about
0:29
silver in particular. We have crazy data out of the
0:33
COMEX, even crazier data coming from our friends in the East in
0:37
China and mainstream media, and a lot more.
0:41
The most important thing that we need to talk about right now is
0:45
how much we appreciate you joining us down here in the
0:48
basement. Thank you, thank you.
0:49
Please subscribe to the channel, give the video a thumbs up,
0:52
leave a comment in the comment section.
0:54
That's how we learn from each other and super chats are always
0:58
super appreciated. Never ever expected.
1:01
Let's go out and take a look at what's happening right now in
1:04
the world of silver and we will go to Kitco and check this out.
1:11
Let me make sure we got all the tech up and running here.
1:15
Hold on a second guys, hold on and here we go.
1:22
OK, now we're up. You should be seeing the Comex
1:25
World spot price. Let me double check that which
1:28
you are. And today we're a little bit, oh
1:32
hey, $2.00. OK, a little bit better than
1:34
early wow. Look at gold.
1:38
If you notice something over the last few days, gold has again
1:42
kind of taken the lead just in the last few days, which is
1:46
great because gold is the granddaddy of the precious
1:49
metals. So wow, $1.78 for silver.
1:53
It's crazy to think that a year ago we would have been jumping
1:56
for joy for a day that we had $1.78 up in silver.
2:00
We'll run out here and take a look at the futures price for
2:05
silver. This is the March contract.
2:08
You can see at the top the COMEX.
2:10
We're going to talk a lot about the COMEX later, $113 per oz.
2:15
Wow guys, let's just take a look at this chart real quickly.
2:19
That's a one year chart of silver and I want to, I want to
2:24
just point out two important things.
2:26
All right, well three important things.
2:29
Remember that's where we were last year probably about $35 in
2:33
silver. But look at the steady
2:36
consolidation that occurred then around $40, then around $50.
2:41
And yes, the move up did accelerate.
2:44
But again I want to point out we did not see a dramatic spike up.
2:49
We did not have a squeeze. OK, I don't care what anybody
2:53
says. We did have a squeeze like a
2:58
semi squeeze or however you want to say it, but we did not spike
3:02
up, which is good because spikes up if that red line had gone
3:05
straight up like it did, there are always accompanied by red
3:09
lines going right back down. So very interesting developments
3:13
on oh, I want to point out one more thing on this chart, guys,
3:17
Silver stackers, basement dwellers.
3:20
If we there's $100 on the silver chart, if we can consolidate
3:25
above $100, then we can likely see the big price moves that
3:30
we're hearing about like this one from who, huh?
3:34
Citibank. What, what did Citibank just
3:37
say? This is going to make your hair
3:39
curl guys from Reuters Citibank and I'll tell you why this is
3:44
important. Just raised it's 00 to three
3:49
month. I guess that means the present
3:50
moment silver forecast to $150.00 Citibank.
3:55
When big banks start admitting numbers like this, you know the
4:00
real move is already bigger banks never call the top.
4:05
And let's not forget the Bank of America even mentioned the
4:08
potential that the silver price could get to 309 dollars.
4:12
OK, the big banks chase reality after it breaks and that is so
4:17
true. That is so important for us to
4:19
remember. These big banks are always
4:22
behind the curve. When I was doing research for
4:24
this video, I put into Google Citibank gold predictions.
4:28
And like last year they were talking about oh, gold may get
4:32
to $3500, you know, and we know what gold is done.
4:35
I mean, heck were what at 5253 right now they chase reality
4:40
after it breaks, breaks. This will not be a rally.
4:43
There will be a repricing event. And this right is from Reuters.
4:47
The like Reuters and Bloomberg are the two biggest mainstream
4:52
sources of financial data. We're going to talk later about
4:57
this phase one's phase two. It's very interesting about the,
5:01
the, the, the word getting out about silver and gold, which can
5:04
bring thousands, millions of more people into the precious
5:09
metals sector. And what about this talk?
5:11
Let's go back. I need to look you in the eye
5:16
and we got more to talk about on this as well, but people are
5:18
saying, oh, silver's going to crash.
5:20
Silver's going to crash Silver's at A at a crazy all time high.
5:24
Well, let's look at the what 1980 silver and gold price would
5:28
be if we adjusted them for the real inflation numbers.
5:33
This first one came from silver Degen who pointed out, OK, using
5:39
shadow stats, the 1980 silver price of $50 adjusted for
5:45
inflation is $1639. What they're saying is the CPI
5:52
numbers that come from our government, the Bureau of Labor
5:54
and Statistics, right, everybody knows are a bunch of bunk.
5:58
And if you actually used the the data and calculated the
6:03
inflation data the same way that they did back in 1980, today's
6:07
price of silver would be $1639. They basically change the way
6:13
they calculate inflation. What they did was they took out
6:16
everything that us normal people have to actually buy and then
6:21
did some voodoo magic to it. That's why people are very
6:25
suspicious of the CPI numbers. It says right here in red, if
6:30
you're trying to to decide if 115 silver is too expensive or
6:35
quote UN quote the top, just know that we are nowhere near
6:38
the top. You're still super early.
6:40
Again, just his opinion, right? I'm not a financial advisor.
6:44
Always be responsible. Do your own research, consider
6:47
what I say and everybody else out there and then listen to
6:50
yourself. But he says I'll stop buying
6:52
silver once the US government stops printing money and shows
6:58
some fiscal responsibility. Until then, I will continue to
7:01
buy. And let's go look at gold
7:04
because this is real interesting from Gold HQ.
7:08
He says gold. Another way to look at this is
7:10
gold is now 7.2 X away from real inflation adjusted all time
7:17
high. So not 7 percent, 7 / 7 times
7:21
away. OK, silver is now based on the
7:24
data we just looked at over 15 times away from its real
7:29
inflation adjusted all time high and goldfish charts.
7:33
But the again using shadow stats said the 1980 high for gold if
7:38
using shadow stats would be $36,886.
7:43
He had a little bit of a different but higher calculation
7:46
for silver, which would be $1706.00.
7:52
And there's a bonus feature like the, like the previous author
7:56
pointed out, right? When the US government starts to
8:01
demonstrate to us some fiscal responsibility, not spending $2
8:05
trillion more per year than we bring in, then maybe we'll think
8:09
about stop stopping to buy silver because that will lead to
8:12
the dollar going down. But there's something very
8:15
interesting. We talked about this yesterday,
8:17
right? The DXY index had a horrible day
8:20
yesterday here. Let's look at the headlines and
8:23
then I'll tell you what's super interesting about this and a
8:27
great, I think, source of future support for the silver and gold
8:32
price from NBC News. And I'd like to thank upstairs
8:35
Susie, for sharing this article with me last night.
8:38
Dollar has its worst day since April after Trump says he's not
8:44
concerned with the recent slide. So that was the big news story
8:48
yesterday, right? The dollar's going down.
8:51
Trump comes out and says, I'm not concerned about the dollar.
8:54
Bah, Bah, Trump wants it, right? He's not concerned because Trump
8:57
wants a cheaper dollar. It's the only way they can keep
9:00
the system alive is with a dollar that is devalued.
9:04
Okay, but what's super exciting about what's happening with the
9:08
DXY index is all the top analysts are saying the same
9:12
thing. If you had told them two years
9:14
ago that the gold price would be above 5200 and that silver would
9:19
be above $100, they would have said that the DXY index would be
9:23
something around 60 or 70. And guys, while the DXY is
9:28
coming down and below 100, all right, it's still at 96 if the
9:32
DXY continues to slide, which I think is likely, although it is
9:36
just a comparison of a bunch of crappy currencies, right?
9:40
Fiat currencies nonetheless. Trump wants a a lower dollar.
9:44
It will be a massive continued and it hasn't really even
9:49
started yet. If you look at a long term chart
9:51
of the DXY index, it has spent decades well below 100.
9:55
It's gotten as low as 60 or 70 in the past.
9:58
If that happens, OK, I don't think anyone's expecting the
10:01
dollar to go up. Excuse me.
10:05
If that happens, it will be a continued tailwind for the price
10:08
of gold and silver. Let's go to China.
10:12
We love China. China is the new king of silver
10:17
and gold for that matter, the East.
10:19
And we have some unbelievable data about China.
10:22
Then we're going to look at the Comex, right?
10:24
Those people who some speculate have manipulated the price of
10:28
silver gold over the years. Before we do that, thank you to
10:32
1st Mint for sponsoring Ron's basement.
10:34
They are a silver exclusive, a silver specialist mint in Las
10:39
Vegas, NV. They get their silver from First
10:41
Majestic, right? Who owns First Mint?
10:43
They mine it in Mexico. Thank you.
10:47
OK, OK, thank you. Send it to Las Vegas, NV, where
10:52
it's transformed into world class silver bullion products.
10:56
And then it gets shipped straight to you right from the
10:59
mine to the mint to you. You can learn more about them
11:02
here at First mint.com. Let's see man, I have so many
11:06
things to share with you guys today.
11:08
There it is right there. There there's their store, free
11:10
shipping on orders over $299, bars, rounds, accessories, and
11:15
the Folds of Honor line of products that benefits the Folds
11:19
of Honor a foundation. And let's get back here.
11:24
Here we go. Wait a minute.
11:28
Oh, wait. Gosh, we got so much.
11:32
All right, we're going to go to this one.
11:34
Here we go, China. All right, guys, there is so
11:37
much going on. I appreciate you sticking with
11:39
me on this one. Let's look at the price of
11:42
silver in China. You know what?
11:44
I wanted to do something new here.
11:46
Hold on, hold on. Let's go check out the price of
11:54
silver in China, if you will. And what we have is the Shanghai
11:59
Gold Exchange, the physical market for silver.
12:02
Yes, feast your eyes on that. In China, we have a $131 silver
12:08
price on the physical market in China.
12:11
Now what's interesting here is on the Shanghai futures
12:15
exchange, right? That's the Shanghai Gold
12:18
Exchange. On the futures exchange, the
12:20
price is actually a little lower, which indicates to us
12:24
that the Chinese market is in a state of backwardation, which is
12:28
very unusual and could possibly indicate that there is some
12:32
concern about being able to get future deliveries of silver in
12:37
China. Next.
12:39
All right, Oh, this is interesting.
12:40
All right, let's go out and look at the actual physical price.
12:46
What could you sell your silver for in China?
12:49
This tells us again, they're setting the silver the physical
12:53
price, and this is a physical market in which we are existing.
12:57
But let's look at some proof outside of the Shanghai Gold
13:00
Exchange, outside of the Shanghai Futures Exchange, about
13:04
what is really happening with silver in China.
13:08
We're going to go out to this great article from Metals and
13:11
Miners on their sub stack and we'll move down here.
13:16
We're going to talk about this first.
13:17
We'll talk about the West, OK and then we're going to go to
13:20
this great data from China because in the West a fierce
13:24
psychological war is being waged that's us.
13:27
Most of us are in the West waged against silver investors.
13:31
The price is slammed from a high of 117 down to one O 3 and then
13:35
back up to 112 and then down to one O 7 and then back to 111 in
13:40
back-to-back days, creating gut wrenching volatility.
13:44
Remember that designed to shake us out of our positions.
13:47
We're going to go back to China, but this is critical for us to
13:51
understand. There were documents that were
13:53
released from the mid 1970s when they were setting up the futures
13:57
markets, when they were setting up the LBMAI think they were
14:01
released as part of the WikiLeaks thing.
14:03
I don't know. But these are real documents.
14:05
And it says in black and white in these documents that they
14:08
want to set up these paper markets so that they can induce
14:12
volatility to discourage Western investors from buying precious
14:18
metals. OK.
14:19
And that's, that's exactly what they're talking about in that
14:22
article. It can be gut wrenching.
14:24
Now for those of you who've been doing it for a while, like
14:26
myself, we're kind of used to it, right?
14:29
Big crazy, unexplainable moves in the paper markets.
14:32
But back to China. The important thing is our
14:35
friends in China are now taking over.
14:37
And in the second part of this great article, they bring up
14:42
some interesting points. It says meanwhile, on the other
14:46
side of the world, a completely different reality is unfolding
14:51
in China, the engine of global industry and the world's largest
14:58
consumer of commodities, physical silver is trading at
15:02
the US dollar equivalent of about $130.00 per oz.
15:06
That's on the Shanghai Gold Exchange.
15:07
We just looked at that now in purple.
15:10
Get that box out of the way. This is crazy.
15:13
The country's largest precious metals recycler, Ron the Gatong
15:21
Gold, is offering to buy back silver from its citizens at
15:26
$128.52 per oz. This is not a paper price on a
15:33
futures exchange. This is the price for real
15:37
physical metal in the largest and most important manufacturing
15:42
market in the world. OK, that's the real thing.
15:46
That means if you and I right got on a boat, now we might take
15:50
an airplane, but maybe a boat would be nicer, relax for a
15:53
little bit and went to China with some silver that we could
15:57
turn it in to the to a recycler in China for 100.
16:02
That's the physical price of silver.
16:04
They are the manufacturing a giant of the world.
16:09
That's what silver is worth, and they are setting the price.
16:12
It's crazy. It's exciting.
16:15
More, more news out of China about silver and we'll go here,
16:21
OK? Hanza Sarani, our good friend
16:23
said China just halted trading, halted trading and it's only
16:29
Pureplay silver fund, not because silver's too risky, but
16:33
because demand drove the price of this probably like an ETF, I
16:37
would imagine to far above its underlying assets.
16:41
That's not a bubble, that's paper structures failing to keep
16:46
up with physical reality. If silver were abundant, right,
16:51
there would be no halts, There would be no massive premiums,
16:54
there would be no regulators stepping in.
16:57
Halts don't signal excess supply, they signal a shortage.
17:03
Price discovery is shifting, E paper is lagging, physical is
17:08
setting the rules and it's doing it in China.
17:13
Interesting video footage. We'll just watch a little bit of
17:15
this and it is from a few weeks back.
17:17
But just to show you how different the markets are in
17:22
China, OK, This is from the Shenzhen Shubiye market, which
17:28
is a huge physical market in China.
17:30
Watch this. We'll just watch it for a few
17:32
seconds. Take a look at what's happening
17:34
in Shenzhen Shuibei. Wow, there's so many people all
17:38
rushing to grab silver. Look, they don't even have
17:41
enough to go around. There's so many people fighting
17:43
for the silver. They're even bringing in tow
17:46
trucks to haul it away. Just take a look.
17:49
In recent days, the area around Shenzhen's Tuli Shuibei Jewelry
17:53
Building, China's largest hub for the gold and jewelry
17:56
industry, has seen a frenzy over silver bars and silver sheets.
18:00
One vlogger reported that late at night, people were still
18:03
fighting for silver sheets. To clarify, in the physical
18:06
silver investment in trading sector, silver sheets are often
18:10
referred to as silver bars, silver bricks, silver ingots or
18:14
national standard silver sheets. These are raw materials for
18:17
silver. All right, enough of that guys.
18:19
We're going to come back now to the United States, to the West,
18:22
our good friends at the COMEX in the LBMA.
18:26
Doesn't all that silver in China look good though?
18:28
I wish, I don't you wish we had that in the United States,
18:31
right? We got, you know what we got in
18:33
the United States? We got paper.
18:34
More on that in a second. OK, but let's go check out
18:37
what's happening in the West with the silver market right
18:42
now. First, we're going to go to the
18:43
Dude for the Dude update of the day.
18:46
Yesterday the silver market traded oh only 1.36 billion oz
18:52
only almost 2 times what the mining sector is able to to
18:56
generate create mine in a year almost 2 times OK now what's
19:01
interesting here in green, the comex, the comex is over there
19:06
shaking. I can see him shaking had 0
19:09
deliveries for the seventh straight day.
19:15
The hits just keep on coming, OK?
19:18
And in a sign of what some people may say, desperation,
19:21
yesterday we got this news. Comex hiked the silver margins
19:25
again. That was.
19:28
And it's kind of like, oh, yes, today's Fed Day.
19:30
I forgot to talk about that. Like, and we don't even really
19:33
talk about Fed Day anymore because it's like the Fed has
19:36
lost their potency. It's kind of like the Comex with
19:39
raising margin rates. They've done it now, I don't
19:41
know, four or five times. Everybody's like, yeah, hey,
19:44
guess what, guys? That used to work, but you cried
19:47
chicken too many times. We don't are cried wolf,
19:50
whatever chicken wolf, I don't know.
19:52
So that to us, to me, it just shows possibly a sign of
19:56
desperation. Some people do say that it's
19:59
just normal. As the price rises, the COMEX
20:02
has to raise their margins. I'll leave that up to you guys
20:04
to debate. Let's just say that the paper
20:06
markets are so screwed up and I've got a special treat for you
20:10
today. Someone has disclosed and shown
20:14
us what an actual Comex paper contract looks at.
20:18
Let's go take a look at this. Very interesting.
20:21
I've never seen one before but now it's in the public.
20:24
This came from Gooney Farms, he said.
20:29
She said until a COMEX contract is treated like this, we have
20:34
not reached the top. And here you go.
20:36
Get ready. Hold on, I got to share the
20:38
right screen. There we are, Gooney Farms.
20:40
Until a COMEX contract is treated like this, we have not
20:45
reached the top. Waiting for that to pull up.
20:47
There you go, and here it is. Guys, feast your eyes on this.
20:53
That's a 1000 oz Comex silver contract.
20:57
And then I got super excited because I was like, you know
20:59
what? I didn't realize that I could, I
21:01
could actually create an infinite amount of silver here.
21:06
I'll share this picture with you upstairs.
21:08
Susie's going to kill me, probably.
21:10
But I've got my own printing press down here in the basement.
21:12
There it is, right? I always keep A roll of toilet
21:15
paper. I've got it hooked up there with
21:16
some galvanized fencing wire in the basement.
21:19
Because sometimes you don't need a whole big sheet, right?
21:22
A whole big paper towel. So I all and I would recommend
21:25
it. I actually had a business idea
21:27
like a like a man's toilet paper dispenser that you could mount
21:30
on your wall in your garage or your workshop.
21:32
Anyway, I can now print infinite amounts of silver.
21:38
Here you go, right? I got 1 sheet out to show you
21:41
guys. That's basically that's, that's
21:44
basically what it's come to with paper silver, literally toilet
21:48
paper at this point. All right, next we're going to
21:51
talk about some big, big, big developments in the world of
21:54
mainstream. This is this look, I, we talked
21:57
about the tokenization of gold. Everybody's getting crazy.
22:01
And now all the other silver and gold Youtubers are talking
22:03
about, oh, Tether. We talked about that months ago.
22:06
So we're not going to spend too much time on that.
22:08
But Tether is now the 30th largest, 30th are within the top
22:13
30 holders of gold in the world, including World Central Bank's
22:17
Tether. It's a crypto company.
22:19
They have tokenized gold. They have all this gold in a big
22:21
ball in Switzerland now owns more gold than Australia, than
22:26
Qatar and the country of Greece. OK, again.
22:30
Well, maybe I'll talk about it more with you tomorrow.
22:32
But guys, we were talking about that 2-3 months ago when
22:35
everybody was like, oh, it's crypto.
22:37
And look, you don't have to like crypto to love that story.
22:41
Tethers by. And they're not just buying
22:42
physical gold, from what I understand, they're like making
22:45
investments in the gold royalty companies and other things as
22:49
well. What that creates is massive
22:51
potential demand for the future, right?
22:53
As they, as they kind of like when the ETFs came out, right?
22:57
And the other exciting thing is there's a bright, bright, bright
23:01
future for tokenized silver as well.
23:04
These companies have to have the metal, right?
23:06
They have to be trusted than they do.
23:08
Everybody knows Tether has just this massive stockpile.
23:11
They bought like 27 metric 27, I don't know, a boatload of gold.
23:18
They just announced it yesterday during the fourth quarter of
23:22
last year. All right, man, we got so much
23:24
more to talk about. Oh, the mainstream media
23:26
stories. This is the other.
23:28
We got so many secret hidden factors that can continue to
23:32
propel gold and silver in the coming months.
23:36
One of which is right that we are now just in phase one of the
23:39
mainstream media to show you some examples of that.
23:42
First, I want to say thank you to 1st Mining Gold for
23:45
sponsoring Ron's Basement. They're a development stage gold
23:49
mining company. They have two huge development
23:51
stage projects in Canada, millions of Oz of gold in the
23:56
ground in Canada, and the big mining companies are clamoring
24:01
right to replace the gold they're feverishly mining right
24:04
now at record profits, but also to grow.
24:07
OK and 1st Mining Gold has two of the biggest best development
24:12
stage projects in a great jurisdiction which is Canada.
24:15
There aren't many of them. You can learn more about first
24:18
Mining Gold at firstmininggold.com.
24:21
Let's go see what's going on in mainstream media because when
24:23
the other people wake up, right, the herd, not us right your part
24:29
congratulations, you did it. You did a great job you dug in
24:32
you learned about the world monetary financial system.
24:35
You woke up, the big light bulb went off in your head at some
24:38
point, like, oh, paper money, right?
24:42
Is basically this. But there's a lot of people,
24:46
especially in the United States of America that are still waking
24:50
up right now. And we are just in phase one.
24:53
But we're starting to see more and more recognition of what is
24:57
going on in the precious metal sector.
24:59
I'll let you look at my roll of toilet paper there for just one
25:01
more 2nd. And now we're going to go to
25:04
this one first. The Washington Post puts out an
25:08
article yesterday why gold and silver prices are surging at
25:12
breakneck speeds. That's not news to you, right?
25:15
That's not news to me. But that's news to a bunch of
25:19
people all around the United States, all around the world
25:23
that are reading these articles. Now starting to come out on
25:26
mainstream media about gold and silver.
25:29
A record setting rally. And precious metals comes as
25:31
global investors diversify away from the United States dollar, a
25:37
phenomenon that nobody understands, known as the
25:41
basement trade, named after Ron's basement.
25:44
But you've been a part of now for however long you've been
25:48
here. And by the way, thank you for
25:49
being here. You really are important, right?
25:51
This does not happen without you.
25:54
I wouldn't just sit down here and make videos for nobody.
25:56
So thank you for being here. Remember, it's free to subscribe
25:59
and it makes upstairs Susie very happy.
26:01
Please press the subscribe button.
26:03
Now let's go to level 2. What about the what about the
26:07
other non big mainstream, but that level below where a lot of
26:12
the young people, the smart people are starting to get their
26:16
their knowledge right. We looked at this guy Mario
26:19
Narwhal yesterday with 3,000,000 followers that none of us have
26:22
heard of, which is a good thing because right, he's not in the
26:26
gold and silver bubble. 3 million people that follow him
26:29
are younger and outside of the gold and silver bubble.
26:32
All those people reading that that that article from the
26:35
Washington Post are outside of our bubble.
26:37
We're in the happy bubble. I love being I don't mean bubble
26:40
like price. I mean bubble like like bubble.
26:42
OK, Tucker Carlson is another one.
26:46
I'm not making any kind. This is not a political channel,
26:49
but I've always loved Tucker Carlson.
26:51
I think he's an honest guy and a good person.
26:55
And look at what's going on with him right now.
26:57
Here is, and again, not a not a political statement, but
27:03
Battalion Metals put this out. Why did Tucker Carlson turn down
27:07
20 million a year to build a gold company you can actually
27:11
trust, right? And this is all been happening
27:13
just in the last two months. Let's watch a few seconds of
27:16
this. It's interesting.
27:17
And then a warning for you as well.
27:19
A big, big, big warning. Are robbing you.
27:23
They sell gold at 4050, a 100% markup over at spot price by
27:29
fooling the customers, of whom are elderly Fox News viewers,
27:32
some of the best people in America.
27:33
So we're starting our own gold company.
27:36
A couple of years ago, I got fired from Fox News, and
27:39
immediately I got a call from a gold company asking me to pitch
27:43
its product. And then a couple of other gold
27:44
companies called me. Within a week, I was being
27:47
offered $20 million to front for a gold company.
27:49
How is a company that's selling a commodity making enough money
27:53
to pay one guy $20 million a year to sell his product?
27:57
So I called the woman I buy gold from.
27:58
And I said, what is this? And she said.
28:00
OK, So Tucker right, it has started or as part of a very
28:06
reputable gold and silver company, I got, we got a big
28:09
warning coming about the silver price crashing.
28:12
But before we do that, I do and I haven't done this for a long
28:15
time. I consider this to be a public
28:16
service announcement. Please, if you're going to
28:19
convert any of your IRA money, I'm not a financial advisor.
28:23
I'm just telling you something you may want to consider.
28:26
If you're going to convert IRA money into precious metals, be
28:30
very, very careful because in that sector there are some great
28:33
companies, no doubt about it. But there are also a lot of
28:37
companies, some of which, like he said, maybe advertise on some
28:40
of the big cable news networks that don't give people a good
28:44
deal. They overcharge people by 20-30,
28:47
forty, 50% or or more. If you're going to do that, The
28:52
one thing I always say is at the end of the day, find out how
28:56
many actual ounces of metal you're going to get, gold or
29:00
silver, and compare that to the current spot price.
29:03
If you're paying 20 or 30 or 40% more, you aren't getting a good
29:08
deal. So please, please, please be
29:10
careful with that. There are some great companies,
29:12
no doubt out there that do IRA conversions that there's also
29:16
unfortunately some that take advantage.
29:18
They try to sell people like weird weight like 1/8 or 1/12
29:22
ounce coins or whatever and it gets confusing.
29:25
So if you're going to do it, be careful.
29:27
Take your time. That's all I'm done.
29:29
Let's move on. Oh here, how about another
29:32
mainstream? This is I gotcha.
29:34
I guess I will. I will get to the Super chats
29:37
and the questions. I promise you.
29:39
Let's look at what's going on right now with.
29:43
This is a great re inverse indicator.
29:45
They call it the Kramer inverse indicator.
29:49
He said this yesterday. I'm a huge gold bug, but I'm not
29:53
a silver bug. This is Jim Cramer from CNBC.
29:58
Everybody laughs when they say his name.
30:00
If there were no sentimental value to it, I would try to cash
30:04
in on my family silver. It's getting ridiculous.
30:08
OK, so there's a thing out there in the financial world.
30:11
They call it the inverse Kramer indicator because he's, let's
30:14
just say, made some calls that didn't turn out so well in the
30:17
past. So we can be grateful, number
30:19
one, that he said that. And the other thing is the fact
30:22
that he's talking about silver, it goes back to that old theory
30:25
that any, any press coverage is good press coverage.
30:29
People are hearing about silver. It's just starting.
30:31
We're in phase one of being talked about in the in the
30:36
mainstream media. OK, We got more to talk about, a
30:38
lot more. A big warning from silver from
30:42
the most unlikely source, a silver crash.
30:45
We'll cover that. Maybe we don't need to be so
30:48
worried. And then we'll talk about what's
30:50
going on in the United States retail silver investment market.
30:54
There's a lot of fur and drama going on around that.
30:57
We'll cover that as well. First, I will go out.
31:00
I need this. Let me get out here.
31:02
We got some super chats. Wow, 3 super chats and a
31:05
question. Colleen Stacks, thank you for
31:08
the Super chat. What would happen if we shut off
31:11
China and other countries from buying our silver?
31:15
You know, that's a very interesting question.
31:19
Yeah, but one of the realities is we don't produce a lot of
31:24
silver in the United States. China refines and produces like
31:29
60 to 70% of the world's silver. So that's a great question,
31:34
Colleen. I haven't really considered it.
31:36
You know, at this point there, there is this arbitrage, they
31:40
call it opportunity for people to buy silver in the West, Comex
31:44
and the LBMA and ship it to China.
31:47
If we shut it down, my, my gut feeling would be that that would
31:51
actually be possibly very good for the silver price because the
31:56
more they try to control what's going on with silver, it's like
31:59
the cat's out of the bag at this point.
32:01
So thank you. Thank you for the Super chat.
32:03
Let's pull Colleen up there. Everybody can see her say, hey,
32:06
Colleen. Next one is from our friend Kim
32:10
Waxman. Hello, Kim.
32:12
Thank you for all the info. I'm feeling a little more
32:14
comfortable about having to do this alone.
32:17
Yeah, that's one thing for sure. Anybody out there?
32:20
Thank you, Kim, for the Super chat.
32:21
We'll pull you up. Anybody out there who's been in
32:24
silver? It could feel lonely.
32:25
We went through the valley of despair together.
32:28
OK, next one is up. It's not feeling lonely anymore.
32:32
This came from Bob Money 210. I've only found buyback prices
32:37
on SD bullion, but why do you think they're paying $4.00 more
32:41
per oz to buy 100 oz bars verse one ounce generic?
32:46
That's a great question, Bob. I would suspect, right, it's
32:50
probably easier for the refiners to meltdown the bigger bars, the
32:55
10 oz bars, the 100 oz bars, even the 1000 oz bars.
33:00
And right now the whole kind of refining supply chain in the
33:04
West is in a state of turmoil. I don't think it's much better
33:07
in China. But if I had to give an answer
33:10
to that question, if you forced me, I'd say that's the reason
33:12
why, right? They don't want junk silver.
33:15
They don't really want a lot of silverware and there's a lot,
33:19
there's a a lot going on. So I'm just kind of telling you
33:21
what I'm hearing, but there's a lot of different opinions as
33:25
well and that possibly that they just want the bigger bars
33:28
because they're easier to meltdown.
33:30
All right, guys, Next up, Next up, let's talk about the silver
33:35
price crashing, OK? And then there's an explanation,
33:39
I think as to why this person or persons is saying this.
33:43
Let's go out to this article from PD magazine, OK?
33:48
And they have a big article caught everybody's eye.
33:51
Analyst warn of a possible sudden silver price fall.
33:56
I won't bore you with the article.
33:58
It basically says, oh, the silver market's in a bubble,
34:01
don't worry, silver's going to go down.
34:03
They talked to who is it that they talked to somebody from
34:06
Bloomberg and Stone X about this.
34:09
What's interesting is, as I dug in a little bit, I'm like, what
34:12
does PB stand for? And you know what it stands for,
34:16
I believe, because look at all these.
34:18
Look at all these advertisements on this photovitalic, which is
34:22
the solar industry, as you can see.
34:24
Look at all these solar panels. It's a solar panel magazine.
34:28
And then we put two and two together and realize that.
34:33
Oh, yeah, the solar industry needs a huge amount of silver.
34:37
Wouldn't it maybe behoove one of their media magazines to put out
34:42
stories saying that the silver price is going to go down?
34:44
I don't know. I'm just saying, speculating
34:48
that that we need to consider the source of that article when
34:53
they're talking about silver going down, down, down, down.
34:56
OK, what about the mining stocks?
35:00
Look, there's an important reason why we want to follow
35:02
what's going on in the gold and silver mining stocks because it
35:07
hasn't really started yet. The mining stocks are still
35:10
lagging the price of the metal. The silver mining stocks don't
35:14
yet believe that the silver price can actually stay
35:18
AT1001101509080, right? The silver mining stocks are
35:23
priced like the silver price is 40 or $50 per oz.
35:28
What's so important for us to realize is that when the when,
35:32
when, when the when the market believes and then realizes how
35:37
undervalued these stocks are. And it starts to get a lot of
35:40
attention from the generalist investors.
35:44
It's going to bring a lot more attention to the overall
35:48
precious metals, gold and silver ecosystem.
35:52
And we've got some incredible data to look at.
35:54
I'm going to show you a chart here about silver miners to
35:57
silver in a second. But before we do that, let's
35:59
listen. Listen to what like one of the
36:01
kings of the world of silver and gold have to say, has to say,
36:08
this is Doug Casey, right? He's the guy that coined the, if
36:11
I got it right, coined that phrase.
36:13
It's going to be like trying to drain Hoover Dam with a garden
36:16
hose and get him up on the screen.
36:20
OK, here we go. And let's see what Doug Casey
36:23
has to say. This is about a minute long.
36:25
Mining stocks in general, particularly gold stocks, even
36:28
after their recent run 2-3 times up something like that, are
36:33
still at about the lowest level in history of all the silver in
36:37
the world is mined as a by product of gold or lead or zinc
36:43
mining or copper. So that there's not a lot of
36:47
silver miners out there. By major bull markets, I mean
36:50
one of the crappy little stocks all go 12:50 as a group.
36:54
And some stocks go 100 to 1 and occasionally you got 1000 to one
36:59
shot, which has actually happened to me.
37:02
Yeah, the mining stocks is where you should be right now because
37:04
they're extraordinarily cheap relative to everything.
37:07
The public's not involved in this.
37:08
So even though the market's double, triple, whatever it's
37:13
it's, it's, it's not even in the, it's just barely in the
37:16
take off stage. I I feel pretty confident.
37:19
And of course, whenever I feel confident about something, I
37:23
like to pinch myself and say, wait a minute, I must be wrong.
37:28
Did you hear what he said? Hold on here.
37:31
I may have lost you guys having some tech issues.
37:34
Here we go. I think we're back now.
37:36
The mining stocks are at their lowest level in history.
37:40
I want to show you a chart which indicates that things may have
37:43
changed a little bit since this chart came out, but the old
37:47
silver Santa shared this one. Hold on here, here we go now it
37:53
should be up for you comparing the junior silver mining stocks
37:58
to the price of silver. So this is a ratio, OK?
38:02
It compares the SIL J, which is the junior silver Miners ETF.
38:07
You can see that there to the price of silver.
38:10
What is super interesting here guys, and I remember because I
38:13
was around this is 2016, you can see how low that ratio got, OK?
38:20
You can see that right now. Now that ratio got to the same
38:25
level while we have silver at over $100 per oz.
38:31
Now if we go out and look at the Siljay, let's get this up.
38:35
Boom. Yep, it's the amplified Junior
38:38
Silver Miners ETF in this chart is I believe a six month, yeah,
38:45
six month chart of that. You can see that it's done quite
38:48
well. Despite the fact that in and
38:51
even over the last few days right up, I don't know 2530%, we
38:56
still have a long, long way to run.
38:59
So since this chart had come out, OK, there has been some
39:04
change, no doubt about it, but this is it's hard to read on
39:08
here. This is about point 3.39%.
39:13
This is at 1 to one, OK. That would be the Siljay getting
39:18
up to $100. And as we just saw right now,
39:22
it's at, I don't know, $39.00, OK.
39:25
This is what happened after the 2006 low when it shot up.
39:29
I remember that I was in the market at that point.
39:33
Now all that being said, please always be careful.
39:36
Again, I'm not a financial advisor.
39:38
These things are risky. Stocks, mining stocks, crypto
39:41
currencies, gold, silver, all of it's risky.
39:43
Be responsible. Don't ever expose yourself to
39:46
too much risk, OK? Do your own research.
39:48
All that great stuff. What about this, this drama
39:52
that's going on out there right now?
39:54
And they're making a big deal out of it.
39:56
And I think really over emphasizing it's important.
40:01
OK, cool. Thank you, Susie.
40:03
I'll go check the Super chats again before we get done.
40:06
But everybody's all upset about this fact that, oh, I can't sell
40:09
my silver in the United States. I can't.
40:11
And I understand right now, me personally, people ask me what's
40:14
the best way to sell silver and I'm very honest.
40:16
I say I don't know because guess what?
40:19
I have never sold an ounce of silver in my life.
40:22
I look at silver, I love it, but I also look at it rationally as
40:27
a generational investment. I don't even keep it at the
40:30
house. I keep it off site, right, OK.
40:32
So, so I'm not the silver selling expert, but there are
40:36
reports and I see even my local coin shop had a thing up the
40:40
other day saying we aren't buying silver back until we can
40:43
do it at what we think is a fair price.
40:45
I think a lot of that has to do with the with the refining and
40:50
the wholesale liquidity issues that are going on in the
40:53
extraordinary period of time that we are in right now in the
40:57
silver market. If we consolidate above $100, I
41:02
would think right. Again, I'm giving you my opinion
41:04
that in a month, two months, three months from now, you'll be
41:07
able to sell as much silver as you want it close to the spot
41:10
price once things kind of normalize again.
41:14
But what's even more important, OK, because we're getting all
41:18
these reports are coming in and people are emailing me and I'm
41:22
talking to people saying that local coin shops are saying, you
41:25
know, they're getting more people that want to sell silver
41:27
than buy silver and blah, blah. It's like, OK, and then, oh, it
41:31
should. It's a sign of a bubble.
41:33
No, it's not okay because of two things.
41:36
And I'll talk about those two things.
41:37
But first, I want to show a short clip that Chris Marcus
41:40
from Arcadia Economics shared talking to one of the world's
41:44
most respected and larger online bullion dealers.
41:49
See if I can get this up. This was on Chris Market shared
41:52
it on Arcadia Economics, and it was an interview that Kai
41:56
Hoffman did with the CEO owner of I believe it is Money Metals.
42:01
Let's just listen because this is a big online bullion dealer.
42:05
Remember that there's a difference between your local
42:08
coin shops and online bullion dealers, just like there's a big
42:12
difference between your local mom and pop, I don't know,
42:17
general goods store and Amazon. OK.
42:20
I'll talk about more about more about that in a second.
42:30
Selling their gold, their gold, and particularly.
42:32
Silver on, guys. I think I didn't share the
42:34
screen properly. Let's go back and we'll start
42:37
here. OK, here we go.
42:39
First of all, I say it's total pandemonium right now in the
42:42
retail market and it's, it's pandemonium both on the selling
42:46
people selling their their gold and particularly silver, but
42:49
also buying. And we're seeing levels of
42:51
demand that we have not seen since Covic and and actually
42:54
exceeding that last month in the last three or four weeks on the
42:58
retail side. So one of the largest gold and
43:01
silver dealers is now reporting conditions that are in excess of
43:04
what we saw during COVID, which OK, Thank you, Chris Marcus from
43:09
Arcade Economics and Kai Hoffman and Stefan Gleason for sharing
43:13
that with us. You heard it.
43:15
That is one of the one of the United States bigger bullion
43:19
online bullion dealers saying, yeah, people are trying to sell
43:22
back. But as well, demand is
43:25
pandemonium right now, bigger and higher than what we had
43:29
during C-19. Remember, do you remember I
43:32
bought some silver real early in the C-19 crisis, guys?
43:36
It was a situation where you had to wait 6 to 8 to 10 weeks to
43:40
get your actual silver. So then the other thing I want
43:44
to say that let's back up cuz again, there's all this, you
43:48
know, drama going on right now in the silver market.
43:52
We also can look at, look at online sales, which are robust,
43:56
we're hearing, but also look at what's going on in China as
44:00
well. And this is a worldwide market.
44:03
No matter how you slice it or dice it, that's one of the
44:06
beautiful, one of the many beautiful things about silver.
44:09
This is not just Saint Louis, the United States, right, North
44:13
America, South America. Silver is a global market.
44:17
Gold is a global market, right? It is the universal store of
44:23
value. It is independent from any
44:26
political system or anything else.
44:28
They can try to manipulate it. And then we're seeing what's
44:31
happened for the Comex in the LBMA now, after their decades of
44:35
trying. It is global.
44:37
It is worldwide anywhere. Spin the globe, close your eyes,
44:41
stick your finger on it, and your silver and your gold are
44:44
valuable there, I guarantee it. But wait, there's more.
44:48
Because it's not just universally valuable, it's all
44:51
also timeless. Think about that, right?
44:55
Go back 1000. Go back three.
44:57
I've read that the silver market is one of the oldest markets in
45:03
the world. And then some guy sent me a big
45:05
long e-mail saying I was wrong, that the fish market was older.
45:08
Well, whatever. OK, Besides fish, gold are
45:13
silver and probably gold are the oldest market.
45:16
What comes with age, right? Wisdom.
45:20
Any of you who've grown a little bit older, like I have, I think
45:23
a lot different about myself and about the world and everything
45:26
else at 55 than I did at 25. With age comes wisdom, right?
45:33
So what we're talking about, what we're seeing right now in
45:36
the precious metals market is the result of not just decades,
45:40
but hundreds and thousands of years of experience.
45:44
Let's go back out. We got more super chats.
45:46
You guys are super generous today.
45:50
Here we go. Phillips pets.
45:52
Phillip. Pets.
45:53
Chow. Thank you, Phillip.
45:55
I'm in Texas. I wish I had a basement.
45:58
Keep up the good work. Yeah, I can't imagine it's weird
46:01
on a person. Do you happen to know about the
46:08
first Mint RVVIP account code update?
46:11
OK, thank you. Upstairs, Susie.
46:13
Yes, as soon as I'm done here, I will send a message to my
46:16
contact adversement to let him know that the VIPRB discount
46:21
code has not been working. So I will take care of that
46:24
right when we're done. OK.
46:25
But I can't imagine not having a basement.
46:27
I look at like 99% of the houses in Saint Louis, I have basements
46:31
and except for ones that are built on the river bluff where
46:34
it's all rock, it's like, I don't know how you guys do it.
46:36
When I'm in Florida, I'm like, where do they put all their
46:38
stuff anyway? All right, let's go on one more
46:41
super chat. We'll pull you up there.
46:44
And we got one from Rolex. I say as I as I say before, ba
46:52
ba ba $78. BA ba $300.
46:56
All right, my friend. All right guys, thanks for
46:58
joining me down here in the basement.
46:59
Don't forget, please subscribe to the channel.
47:02
It's super nice that you are part of this community, Susie
47:06
and I appreciate all of you. We're in for some wild rides.
47:09
We used to say, right, that we're together and that will
47:12
navigate the choppy waters of gold and silver.
47:15
There will be choppy waters ahead, but I think at the end of
47:19
those choppy waters, there's even more good times to be had
47:23
for us in the precious metals sector.
47:26
You take care of yourself and I'll see you.
47:28
Yes, you, next time.