Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / π STOP π Dollar Crisis Does THIS to SILVER Price... (and GOLD Price)
Transcript
- 0:01Absolute stunning action in the silver market.
- 0:04We'll talk about gold as well. We'll talk about not $435
- 0:10silver, we'll talk about $436 silver.
- 0:14Big update in that regard as well.
- 0:18Also, the dollar will face a major crisis.
- 0:22We'll cover that later in the video.
- 0:24What will happen to silver and gold when we hit a dollar
- 0:27crisis? And we'll talk about three key
- 0:30factors influencing that. But crazy action overnight in
- 0:34the silver market. I'm sure you noticed it just as
- 0:38I did. What do you think is going on?
- 0:41Why is gold just barely up or barely down right now, but the
- 0:46silver price taking off? The reason is something that I
- 0:49just learned yesterday and I'm going to share with you in just
- 0:53a few moments. But let's run out and take a
- 0:55quick look at the gold and silver price because this
- 0:58morning we got major news, the big news story coming out,
- 1:02retail sales numbers. We also got employment data.
- 1:07Let's run out the channel sponsor pin backs and see what
- 1:10kind of update we get on the silver and gold price.
- 1:14OK, so we got gold basically even $2450 per oz.
- 1:21Let that sink in for a second. I need say no more to you.
- 1:25Silver $28.26 up almost $0.70 per oz.
- 1:31Why is silver up over 2% while the gold price is down?
- 1:36Well, I want to give credit where credit is due and tell you
- 1:39where I heard this reason from. OK, it's a guy named Phil at
- 1:45Blue Line Futures. Phil Streibel, I believe his
- 1:48last name is. He puts out a update video every
- 1:51morning. Very smart guy.
- 1:52He's pointed out for the last few days that the silver price
- 1:57has been very closely. Have you noticed this closely
- 2:01following the copper price? We always think of gold as the
- 2:04granddaddy. And I believe right from a
- 2:07monetary perspective, gold is the granddaddy.
- 2:10But lately silver has been, let's say, being more impacted
- 2:16by its industrial side. So it's been following the
- 2:20copper price. I'll show you today.
- 2:24Here's great proof to you that this is going on.
- 2:26We'll go out to a website called CEO dot CAI, go there quite a
- 2:31bit to follow mining stocks, but it's a good place to get a
- 2:35snapshot on what's going on in the market.
- 2:37So as you can see here, they've got gold, basically even silver
- 2:42up 3%. Let me update this.
- 2:46OK, silver up 3.4%, copper up 2.4%.
- 2:53So guys, we need to stay abreast of this developing situation.
- 2:57Those of us who follow silver so closely, silver has has lately
- 3:02been following the copper price more so than it has been
- 3:07following the gold price. Sure, gold is still the
- 3:09granddaddy of all the precious metals, we won't argue that.
- 3:13But we know that silver has been following the copper price and
- 3:17it's something that we want to stay on top of.
- 3:20Retail sales came out this morning.
- 3:22You probably saw the big headlines here.
- 3:24Let's go. Let's go take a look at what
- 3:27they're saying. Retail sales soar past Wall
- 3:31Street estimates in July. Oh my gosh, Wait till we tear
- 3:35this one apart, guys. Retail sales surpassed Wall
- 3:38Street's estimates in July, helping ease concerns of a
- 3:42significant slowdown in the US economy.
- 3:45We're going to cover more of this, but first I got I have to
- 3:48say something. Thank you for being here.
- 3:51Thank you for being part of Ron's basement.
- 3:53Please leave a comment in the comment section.
- 3:56We want to hear from you. We want to interact with you and
- 4:00please subscribe to the channel that helps us grow.
- 4:04It helps us get the word out to more people.
- 4:06And thumbs up are also very, very much appreciated, as are
- 4:10super chats. Now, what's going on with retail
- 4:13sales? They smashed estimates.
- 4:15Things are great in the economy. Haven't you noticed, right?
- 4:19Things are so wonderful out there.
- 4:22So let's talk about a couple interesting things that they're
- 4:26not. I don't, I don't think I see
- 4:28only but one. OK here.
- 4:31July, July sales excluding auto and gas rose .4% above the
- 4:36estimates of .2%. Hold on here.
- 4:40Let's go back up. Here we go.
- 4:44This is the interesting part. Retail sales rose 1% in July.
- 4:47Economist had expected only a .4% increase, according to
- 4:52Bloomberg. Meanwhile, retail sales in June
- 4:56were revised lower. So we've got these great guys,
- 5:02we're going to tear them apart, OK.
- 5:03This is from the Census Bureau, by the way.
- 5:06I thought they counted people, not retail sales, but
- 5:09nonetheless, this major market, moving news, retail sales, the
- 5:13US economy, We know it's by dynamics, it's working, ha ha,
- 5:19what a joke. Let's tear this apart #1 they
- 5:22have revised downward 8 of the last 12 months retail sales
- 5:28number. So very likely this number they
- 5:31reported is overestimated. OK #2 everybody's buying with
- 5:37their credit cards. We know we have record high
- 5:40credit card debt right now in this country.
- 5:43What is that telling us? Right.
- 5:45That's telling us, sure, people are buying stuff, but they're
- 5:48doing it on credit and paying astronomically high interest
- 5:53rates. What else do we know?
- 5:55People are draining money out of their four O1 KS, right?
- 5:59People are taking money out of their IR as people are taking
- 6:02out home equity loans, right? So this retail sales number,
- 6:06sure, it's great. Sure, sure, sure.
- 6:09But the real icing on the cake is this guys and this is what
- 6:12that nobody really talks about, but something that I think is
- 6:15critical as we look at retail sales.
- 6:19OK, and here we go. I went into Google and asked a
- 6:23simple question. Are retail sales reported as
- 6:27nominal or inflation adjusted? You probably can't see the
- 6:32adjusted there at the top of the screen.
- 6:34And the answer is this, these figures are seasonally adjusted,
- 6:39but not adjusted for inflation. So what does that tell us?
- 6:46That tells us that a lot of the retail sales quote UN quote
- 6:49increases could be accounted for just with inflation alone.
- 6:55We know that inflation right is that is, is a is still going at
- 7:002.9% on an annualized basis. So when they when they announce
- 7:07these great retail sales numbers, they aren't accounting
- 7:11for the fact that a lot of that increase can be accounted for,
- 7:15can be explained by increase in in prices inflation, OK.
- 7:21So when they talk about how great everything is out there,
- 7:25how wonderful the economy is doing, and then use that to beat
- 7:30down, we've got to look. I mean, I heard a couple people
- 7:33say the retail sales numbers are the biggest joke ever, but we'll
- 7:36play their game, all right? We'll play their game, but we
- 7:39know the long game, and that is Crisis for the dollar.
- 7:44We're going to talk more about that later.
- 7:46Remember, every Fiat currency that's ever been created, and
- 7:51there's a long list that I'm going to show you later.
- 7:53A long, long list has always gone broke.
- 7:56You know, also later I'm going to address a couple viewer
- 7:59comments from yesterday's live stream.
- 8:02It's important. I want you guys to know that I
- 8:04read your comments, your thoughts matter, OK?
- 8:07And I'm going to pull up one or two comments from yesterday's
- 8:10live stream. They kind of questioned some of
- 8:13the things I said and give you a little more explanation.
- 8:16You don't always have to agree with me.
- 8:19You right, are just as smart as I am, just as smart as anybody.
- 8:23You develop your own opinions, but please share them with us.
- 8:26We do want to hear from you. OK, All right, let's talk about
- 8:31my my click bait. Was it click bait or was it not
- 8:36click bait? Right, $435 silver.
- 8:40I put in the thumbnail the the little brochure for this video.
- 8:44Where did that come from? Guys?
- 8:46Every time we check, it gets worse and worse.
- 8:49Let's go out and look at this figure that we've all been
- 8:52following very closely. We're out here at the US debt
- 8:55clock. It is going up and up the dollar
- 8:59to silver ratio. We've been looking at it almost
- 9:02every day and the reason why is because almost every day this
- 9:07number, the dollar to silver ratio right now continues to
- 9:12skyrocket. It was just months ago that this
- 9:15number was at 0. And you remember we everyone was
- 9:21up in arms. Why is the dollar silver to.
- 9:23It measures the increase in the US into money supply, the amount
- 9:27of money that's out in the economy.
- 9:29So when they're creating more money, creating more dollars,
- 9:34paper dollars, electronic dollars, whatever the M2 money
- 9:37supply goes up. This number measures for each
- 9:41one ounce, just one ounce of silver that's created every
- 9:45year. Mind how many dollars are
- 9:47created and it continues to go up.
- 9:48When I made the thumbnail for this video last night, it was at
- 9:514:35. This morning, it's at 436, OK.
- 9:57So we are in a difficult, very difficult situation in this
- 10:01country, OK? And the world financially, the
- 10:05dollar, the Fiat systems will eventually run into very
- 10:10difficult at times. That is undeniable.
- 10:13It's mathematically impossible. And when that happens, the value
- 10:17of things like silver and gold will go up.
- 10:20But we're in this horrific financial situation in the
- 10:23United States. Excuse me, but wait, there is
- 10:28more. It's not just the United States,
- 10:31it's the entire world, right? We know the entire world has
- 10:35over $330 trillion in debt, OK? But at the same time, we are in
- 10:41a very contentious, a very difficult, a very volatile
- 10:47geopolitical environment in the world.
- 10:50OK, So as we're in this situation, what makes it, what
- 10:54makes it seem like we could be headed for financial monetary,
- 10:59right? There's no money left.
- 11:04There's no money left, guys. Right now, no governments have
- 11:08any money. There's no money left to fight a
- 11:10financial crisis. And there's no money left to
- 11:14fight these major world conflicts that are breaking out.
- 11:18The only place that they can find money is by printing it.
- 11:23Does that Does that make sense? The only place that the money
- 11:27can come from is by devaluing the Fiat currencies of the
- 11:33world. OK.
- 11:34They're going to have to print money.
- 11:36They're going to have to print it on paper.
- 11:38They're going to have to print it electronically.
- 11:41There's not enough of this to go around.
- 11:44OK, So while we're facing this very difficult situation, right?
- 11:49We don't have money to fight a financial crisis.
- 11:52We don't have money to fight the major world wars.
- 11:55And at the same time, at the same time, right, we don't have
- 11:59money in the United States to fund our government, right?
- 12:05Look at this. Let's go back to the debt clock
- 12:07for a second. This is astounding.
- 12:11If we go over to the other side of the debt clock, you know, 35
- 12:17trillion in national debt, but go down a little bit here to the
- 12:19lower right, the US federal budget deficit official almost
- 12:25$1.9 trillion. OK, That's not the federal
- 12:30government's budget. That's the amount of money that
- 12:34they're spending above and beyond what they bring in,
- 12:38right? If you look at the middle upper
- 12:39box, it says, OK, the difference between the total amount spent
- 12:44by Congress and the revenue received by the Internal Revenue
- 12:48Service. So our Congress is spending $1.9
- 12:51trillion more than they're bringing in.
- 12:54So while we're in this situation right now, right where things
- 12:58have been quote, UN quote, good in the world, right?
- 13:01Listen to Janet Yellen, listen to Jerome Power having a soft
- 13:04landing. Oh, really?
- 13:08Really. So things are so great out
- 13:11there. We don't have money to fight
- 13:15when things aren't great. If things are great, that means
- 13:17things at other times can be not so great.
- 13:19Well, when I'll, I'll pose the question, what are we going to
- 13:23do when things aren't so great, right?
- 13:28We don't have the money right now and things are great.
- 13:31What about when things aren't so great?
- 13:33What if the geopolitical conflicts in the world become
- 13:38get worse, right? And what if our government, the
- 13:41money is not there? The only way to fund all of
- 13:45this, there's only one answer for them, the only solution,
- 13:49right? It'd be like if you were having
- 13:51a party, like a wedding reception at your house or an
- 13:54engagement party for one of your children or whatever.
- 13:57A graduation, a birthday party for your dad.
- 14:00What? I don't know.
- 14:01I don't care. You're having a party, right?
- 14:04And you buy 4 bottles of Jim Beam whiskey because you've your
- 14:08family's heavy drinkers, right? And they got 4 bottles.
- 14:10That'll be enough. But then twice as many people
- 14:13show up, right? You need twice as much Jim Beam,
- 14:18but you don't have any money. You don't have anything real to
- 14:20go buy anymore whiskey. So what do you do?
- 14:23You pour it all into a great big jug, right?
- 14:26And you double the amount of it by adding water.
- 14:29You dilute it. And that's the only solution
- 14:32they're going to have with the US dollar.
- 14:33And that will, that will absolutely increase the value of
- 14:40silver, the value of gold, OK? There's no other way around it.
- 14:47Let's go take a look at our viewer comment.
- 14:49OK, let's, let's, let's let's shift gears here and talk about
- 14:52you for a second. I thought this was a good one.
- 14:54It was a good question. And it's not anything
- 14:58flattering. It says, Rod, about when do
- 15:00quote UN quote, the hens come home to roost?
- 15:03When, when does all of what you mentioned quote, UN quote,
- 15:07impact silver and really take off?
- 15:11Silver's always suppressed. These fraudsters keep
- 15:14suppressing it. So, you know, look, I've never
- 15:17raised a chicken. I don't know when the hens come
- 15:19home to roost. But I do know this, this is what
- 15:21I thought of when I, when I heard this comment.
- 15:23We know the environment that we're in right now.
- 15:26We know the factors like we just talked about, right?
- 15:29There's no money left, huh? They spent all the money.
- 15:33Grandpa spent all the money. We know that it's coming.
- 15:38OK. It's kind of like there's a
- 15:39couple, couple analogies. I'll use two separate analogies
- 15:43to explain to you. Robert Korff.
- 15:45And thank you for the comment, by the way, stimulating thought
- 15:48right here. I'll show you one analogy about
- 15:51when the hens will come home to roost.
- 15:53And this one, I want to give credit to our friend Andy
- 15:55Schechtman. Where is it?
- 15:59Here it is, Andy. Andy likes to say it's like
- 16:04this. Like this game right here.
- 16:06Jenga, have you ever played this right?
- 16:08You build this wooden tower and then you pull out piece by piece
- 16:13by piece. The tower gets wobbly, and then
- 16:16all of a sudden it falls over. OK, I'm not saying we're right
- 16:20at this point yet, but we're certainly maybe getting close to
- 16:26this point right here where we pulled out piece after piece and
- 16:33the and everything still looks good at the tower, still strong
- 16:36tower still standing up. But each piece that comes out
- 16:40makes it closer and closer to a time when we could have a
- 16:44crisis, right? And that's what we're talking
- 16:46about a monetary crisis. Maybe I'm wrong.
- 16:50Don't make any financial decisions based on anything I'm
- 16:52saying, but but eventually it certainly could happen.
- 16:55The other analogy that I thought of with with this, with this
- 16:59kind of impending feeling that a lot of us have about what could
- 17:03happen in the economy, what could happen possibly in the
- 17:06monetary system. It'd be like if you had a little
- 17:09house with a great big tree next to it, and that great big tree
- 17:14had a great big limb that went over your house.
- 17:17And that great big limb had died about four years ago.
- 17:22So you've got this massive dead tree limb hanging over your
- 17:25house. Eventually, you know it's
- 17:27extremely likely that it's going to break, right?
- 17:30But you don't know exactly when. Maybe it takes a storm.
- 17:34Maybe just one day out of the blue it breaks and it falls.
- 17:37But you know that it is coming. Hey, if you want to get your
- 17:42hands on some silver or gold, I want to say thank you to our
- 17:47channel sponsor, PMBEX. Look, we're all part of a big
- 17:50community here, Ron's Basement community.
- 17:53We help each other. I'm trying to help you with
- 17:55PMBEX. I feel great about having them
- 17:58as a sponsor of Ron's Basement because I know they provide a
- 18:03great service to the basement dweller community, to the silver
- 18:07and gold stacking community in general.
- 18:10Their mission, right? Get the most metal in the hands
- 18:13of stackers like they always, always have.
- 18:16They have ultra competitive prices.
- 18:19They've great service and a great selection.
- 18:22I feel. I just always feel great about
- 18:24Pinbacks and I'm very grateful that they are a sponsor of Ron's
- 18:28Basement. Please, if you're ever shopping
- 18:30around, if you ever decide that you want to add to your stack or
- 18:33that you want to buy some bullion online for the first
- 18:36time, do yourself a favor, check out Pembex.
- 18:39Go to their website, compare what they can do for you to the
- 18:42other big online bullion dealers.
- 18:44I think you'll be impressed. And if you ever, Oh my gosh, and
- 18:48I got the story about this, I'm going to talk about later, but I
- 18:53digress. If you ever decide that you want
- 18:55to convert part or all of an IRA4O1K, whatever it is, into
- 18:59physical metal, please, please, please, please take your time.
- 19:05Please. That's a big decision.
- 19:06Take your time, compare, shop around.
- 19:10Make sure that one of the companies you're comparing is
- 19:13PMBEX. I think you'll be shocked,
- 19:15absolutely shocked at what PMBEX can do for you compared to some
- 19:20of these other companies that maybe spend millions and
- 19:23millions and millions on TV advertising.
- 19:27I will leave it at that. Thank you guys for being here.
- 19:32Don't forget to subscribe to the channel.
- 19:33And when you do, press the bell so you get notified every time
- 19:37we put out a new video. You are important.
- 19:39You. You are the most important part
- 19:42of Ron's basement. I appreciate all the comments.
- 19:44I read them all, so please keep them coming.
- 19:47Thank you. Hey, there's Timothy Zoob.
- 19:50Hello, Tim. Good to see you, my friend.
- 19:53A good fellow basement dweller. We talked about that.
- 19:56OK, let's go. OK, now do you want some
- 20:01examples? You want some proof that these
- 20:05Fiat currencies really do fail? This is interesting.
- 20:12Let's go out to our friend. John Littles Silver Academy, the
- 20:18Silver Industry Sub stack.com. It's free to subscribe.
- 20:21I have no financial interest in telling you that I really highly
- 20:25recommend that you subscribe to the Silver Academy Sub Stack.
- 20:29There's a link to that in the description of this video.
- 20:32Here's a chart of 152 paper currencies that have all
- 20:37collapsed. I'm going to click on this and
- 20:40hopefully there we go. No, there we are.
- 20:45OK, well hold on here guys, see if I can make this a little
- 20:50bigger for us. There we are.
- 20:52This is working. OK Chart of 152 paper currencies
- 20:58that have all collapsed. You want me to read everyone?
- 21:01Let's just pick out and and then the blue line is the number of
- 21:05years, the lifespan, OK, The average lifespan of these
- 21:10currencies, 25 years, the median life lifespan, seven years, OK
- 21:161985 Peru, their soul went down. 1911 Portugal. 1962 Bolivia.
- 21:252002 Portuguese. Portuguese equato. 1947 the
- 21:31Romanian silver Lew OK. 2002 Afghanistan. 1952 Bulgaria. 1970
- 21:38Argentina. Paper peso.
- 21:41We're going to look we're going to look at an update on the art
- 21:46on on the silver price in Argentine pesos in just one
- 21:50second. 1822 Brazil, Germany. Mongol, Iceland, Argentina.
- 21:57That's a recurring name. Finland. 1962 Brazil, Poland,
- 22:04let's see here. Mongol brother Mongols had some
- 22:06problems. Silver gourd and the Bolivian
- 22:10pay. I mean, look at this list, guys.
- 22:12It just goes on and on and on and on and on and we know, Oh my
- 22:18gosh, look at these. Some of these didn't last long
- 22:20at all. Four years.
- 22:22Angola the Russian ruble in 1990 two 1995 Georgia look at this
- 22:30list. Some of these were hardly around
- 22:33Hungary 19461993 the Yugoslav The point here is that every
- 22:40Fiat paper currency and I know you know people have have just
- 22:47piles and piles of currency. Lynette Zhang has like just the
- 22:53piles of all these paper currencies that have that have
- 22:56that have not survive. Will the dollar meet the same
- 23:01fate? I'm not saying the dollar is
- 23:02going to collapse. The dollar is going to go away.
- 23:04The dollar will absolutely, though maybe not collapse.
- 23:09But what about crisis? I think that's what we really
- 23:15need to hone in on. Will the dollar have a crisis?
- 23:20And let's look no further than our friends in Argentina to see
- 23:24what happens to something like the silver price.
- 23:26You've seen this chart from me many times, but I have an update
- 23:29for it. This is a 10 year.
- 23:32If you look at the top silver price in Argentine pesos 2014 to
- 23:39end of 2013, it was about 1/22 OK.
- 23:43By 10 years later it was at 8700, a 7000% increase.
- 23:51OK, so in 10 years it went from one it'd be like silver and and
- 23:56going from 120 two US dollars to 8700 U.S. dollars.
- 24:01But wait, it gets even crazier when we look at this updated
- 24:09chart, OK, the 10 year price, 10 year silver price history in
- 24:15Argentine pesos per oz OK. And so we see that yeah, sure,
- 24:20it was there, but it even took off more just in the last six
- 24:25months gone as high as 28,800, almost 29,000.
- 24:30Remember, guys, that would be like 11 years ago, it was at 100
- 24:35basically and it would then went to 29,000.
- 24:38Think about that in terms of another Fiat currency, the US
- 24:42dollar. Again, that'd be like silver
- 24:45going from $100 to $29,000. So does this happen?
- 24:50Has it happened? Absolutely.
- 24:52Isn't that proof positive that it's happening and people call
- 24:56into question like, oh, why do you think we could get the
- 24:59$600.00 silver, the $435 silver example that we just talked
- 25:04about? Let's go back to that quickly on
- 25:07the US debt clock, OK? That's like that's like a rate,
- 25:10a ratio, OK? That doesn't mean that that that
- 25:15we think Oh yeah, gold, a silver should be $436 per oz right now.
- 25:20No, but what that shows and as it is growing, it shows us that
- 25:27money printing is expanding and going higher and higher.
- 25:32The other factor in this ratio would be that the that the
- 25:38amount of silver being produced is going down.
- 25:41But that's not playing as much of a factor in this, OK, Because
- 25:45silver, while it's, while silver production is indeed decreasing,
- 25:50it's the increase in money supply, the increase in money
- 25:54printing creation that is having more of an impact on that, that
- 25:59we're having for each one ounce of silver being mined, 436
- 26:04dollars of, of, of gold. OK, OK.
- 26:09Yesterday, yesterday, my dad came over, he's 84 years old.
- 26:15And I turned on Fox News. We were eating lunch, watched
- 26:18Fox News for about 15 minutes. Guys, these gold scams that are
- 26:23out there or gold bad deals, they are astounding.
- 26:27During 15 minutes, I saw three separate commercials from these
- 26:32gold IRA companies with celebrity endorsers #1 They're
- 26:37paying a lot of money to advertise on Fox News #2 They're
- 26:42paying these endorsers a lot of money to represent their company
- 26:45#3 Two of the three of these companies that want to send you
- 26:49these big fancy glossy reports also had big things up on the
- 26:54screen saying that you could also get not 10,000.
- 26:58They've upped the ante 15,000 up to $15,000 in free gold, quote
- 27:04UN quote, free gold and silver. I mean, it's just absolutely
- 27:08crazy. I implore you if just one of
- 27:12you, if this, if this helps just one of you, it's worth me taking
- 27:15this time to tell you, please be very careful when converting an
- 27:20IRA into precious metals. OK?
- 27:23I won't give you the spiel again, but I will give you the
- 27:26spiel at minimum, at least talk to somebody like the guys at
- 27:31Pmbek's, you know, talk to talk to another trusted source.
- 27:35There's other trusted companies out there.
- 27:37It's not all the companies, but the ones that spend all the
- 27:41money. I'm telling you, there's no such
- 27:43thing as $15,000 in free gold or silver.
- 27:48That's just the way it is, OK. And you know what, as we, as we
- 27:53look at what's going on right now, as we look at the fact that
- 27:56there's no way for the United States to avoid a currency, a
- 28:03dollar crisis, they're, they're really just mathematically is no
- 28:07way. And as we face that, right, as
- 28:09we're in that situation right now, we're facing right what,
- 28:13what are we going to do if there's a financial crisis?
- 28:15What are we going to do if there's an escalation in
- 28:20geopolitical turmoil, right, in the Middle East, in Asia, in in
- 28:27Europe, in with, with Ukraine, What are we going to do?
- 28:30How is the government under the best of circumstances, going to
- 28:35continue to spend, right? All this like 2 trillion,
- 28:39basically more they're spending than they're bringing in.
- 28:43It doesn't add up. At the end of the day, nature,
- 28:48the free market forces will take over.
- 28:51Are we seeing that right now when we look at gold and silver?
- 28:55Are free market forces taking over?
- 28:59Is the world naturally right, Moving back towards more, back
- 29:04towards the gold standard and the silver standard?
- 29:08I firmly believe that we never went off really truly went off
- 29:12the gold standard. We never truly went off the
- 29:15silver standard. It never completely went away.
- 29:18It got kind of pushed off into the corner and there was a lot
- 29:22of effort put into diminishing is the United States was was the
- 29:29world power, the world hegemony during that period.
- 29:33There's a lot of effort put into kind of diminishing the
- 29:36importance of silver and gold, but is that power wearing then
- 29:42now? Is the world right through what
- 29:44the BRICS countries are doing? What do you think's going to
- 29:47happen in October of 2022 at the BRICS meeting?
- 29:52We know what's going to happen. We know what they've talked
- 29:55about. We know that the prospect of
- 29:58this, of this new trade settlement currency called the
- 30:02unit which which is being proposed to be backed 40% by
- 30:08gold. We know what the world central
- 30:11banks are doing with gold. What is it all telling us?
- 30:15Look, I, I, I, I, I will argue with anyone that the world never
- 30:21really went off the gold standard, never really went off
- 30:24the silver standard. I think we have some bright days
- 30:27ahead for us. Let's run out and check the the
- 30:31silver price and gold price. Let's see how it's doing.
- 30:34Look, we never know. This is not updated.
- 30:37Who knows where this could go? OK, so gold's about even.
- 30:41Silver's still up $0.60. Don't forget, guys, silver as of
- 30:45late as a little love affair with copper.
- 30:51You know, where's my chart? Darn it, I had a chart that I I
- 30:55used to share with you guys. It's been a while.
- 30:57Here it is right here. Oh, this is this explains silver
- 31:04and one easy chart. Let me pull this up for you.
- 31:10I think I have it somewhere, but I made that all about six weeks
- 31:14ago. There's silver in the middle,
- 31:17right? It's kind of it had it has 1/2
- 31:19brother called gold and 1/2 brother called copper.
- 31:24OK, Gold is silver shares that monetary relationship with it.
- 31:31OK, copper, it shares the industrial relationship lately,
- 31:37especially lately the, the, the industrial relationship with
- 31:41copper has been more dominant in terms of setting the price for
- 31:46silver. The silver price has been much
- 31:48related or Co related. It's the fancy way to say that
- 31:52to the copper price. So we're going to keep an eye on
- 31:54what's going on, the fundamentals, right And copper's
- 31:58it did done very well. This was maybe 8 weeks ago.
- 32:01Remember, copper had gone to I think what $5 a pound it was
- 32:06gold's at an all time high and we know what's happening with
- 32:09copper and where they're projecting copper to go.
- 32:11Hey guys, thank you for being here.
- 32:13Don't forget, leave a comment. Please subscribe to the channel.
- 32:17I appreciate each and every one of you being here.
- 32:20OK, Have a great day. Thanks for getting on with me
- 32:22early this morning and I will see you soon.