Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **IT IS Happening Right NOW** Only Matter of Time for SILVER & GOLD Price

Transcript

**IT IS Happening Right NOW** Only Matter of Time for SILVER & GOLD Price · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
$45,000 gold, $5000 silver Lately we've heard some
0:06
outrageous claims about where the precious metals prices could
0:10
be heading, but I want to ask you a question.
0:14
Is there something weird going on out there?
0:16
We're going to dig into recent activity within the silver and
0:21
gold sector and uncover a couple factors which I think will
0:25
indicate to us that there's some strange things going on right
0:30
now in the world of gold and silver.
0:33
And all of this is going on without a crisis.
0:39
We're going to dig into that as well.
0:41
We're going to think about, we're going to put some pieces
0:43
together that more are going to make us give us some clarity on
0:48
the precious metal sector, but also give us some optimism about
0:52
why we hold silver, gold and platinum.
0:56
What about the banks? We got to talk about that
0:59
because they are a critical component of what is going to
1:02
transpire in the coming months, quarters and years.
1:07
Are we headed for a Great Depression?
1:09
There's one indicator that when we look at it and when the gurus
1:14
look at it is indicating that we could actually be heading
1:17
possibly towards a Great Depression.
1:20
We're going to talk about that. We're going to, we're going to
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touch on a one more time, one last time.
1:29
We're going to talk about a subject that I am just
1:32
fascinated by and that's Costco gold.
1:35
But this time we have news about Costco and gold coming from
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north of the border, at least north of the border from where I
1:42
live in the United States, but some of you live in Canada.
1:47
You can give us your perspective on what's going on with gold and
1:50
silver in Canada, but also this Costco situation, which is in my
1:56
opinion, developing into a very fascinating development for the
2:01
silver and gold sector. And wherever you are joining me
2:04
from today, thank you for being here.
2:06
You're a basement dweller. Congratulations for the next
2:09
little bit of time. You're in the basement.
2:12
We call ourselves Basement Dwellers.
2:14
I'm glad you are here. You are the most important part
2:18
of Ron's basement. You're the most important part
2:20
of a lot of things. So give yourself a little pat on
2:23
the back. And if you want to do something
2:24
nice, give this a thumbs up. That helps us get the word out
2:28
to more and more people. And you know, Susie and my wife,
2:30
who many of you know, she's the real boss of the basement.
2:35
She's been working really hard on two things.
2:38
TikTok. Now, I'm not a big TikTok
2:41
person, but if you know anybody who is, she is putting some
2:44
short videos on the TikTok. I laugh as I say that, but also
2:49
Twitter as well. You can follow Ron's Basement on
2:53
Twitter and there's links in the description of this video and
2:55
every video. That's enough of the
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advertisement for right now. We're going to talk about
3:01
unbelievable opportunity for price appreciation in the gold
3:06
mining stocks. We had some big news out this
3:08
morning from Fortuna Silver Mines, a company that I follow
3:11
closely and many of you also follow.
3:14
We'll talk about what's going on there.
3:15
We'll talk about even more signs that the economy is crashing.
3:20
We got some big news in that regard and I just got to get
3:23
started right now. Let's get back to the beginning,
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$45,000 gold, $5000 silver. I know, preposterous.
3:31
But remember, if the dollar crashes, nothing is off the
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table. But what the heck is going on?
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Let's try to let's try to do a little looking at the forest
3:42
through the trees Right now. We can look at all the little
3:45
individual stories that do impact the silver price and gold
3:49
price, but let's talk about the big picture because there's some
3:53
weird things going on right now. Have you noticed that, OK,
3:57
number one, coin shops and online bullion dealers are
4:01
experiencing big sales increases right now?
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I want you to think about that because I will tell you this is
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a fact that is unusual behavior during a period where the price
4:15
gets smashed down. We've had a price smash right in
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the last week, week and a half, two weeks in silver and gold,
4:23
especially in silver. I know I feel your pain right,
4:28
but the here's the fact Rick Rule has said this.
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I've heard all the top people. I've talked to people at the big
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online bullying dealers. I've talked to the local coin
4:37
shop. Typically when there's a price
4:40
match, retail investors, individual investors do the
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exact opposite of what they should do.
4:46
When the price goes down. They sell their silver, sell
4:49
their gold. They get scared.
4:51
They think it's going to zero and they sell.
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That has been the pattern for decades.
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Guys, something's different right now.
5:00
Put on your something different pants.
5:02
OK, change because it's changed now just recently when we're
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seeing this beat down and it's the only way we can say it in
5:11
the silver pricing, gold price, the online.
5:14
But I talked to the guys at pin backs their sales are up up, up.
5:19
OK. I've talked to coin shop Chris
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he'll tell you at his shop sales the last week have been going a
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little crazy. OK.
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You, you. I was there.
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There's everywhere you look. People on the West Coast, People
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on the East Coast are saying sales are going crazy right now.
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That is different. And that's a big deal.
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OK, On top of that. OK, On top of that, It's it, Is
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it? It's.
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There's just something different going on right now in the
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precious metal sector, this whole Costco thing, which we're
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going to talk about later. But everybody.
5:56
My friend Mike, my friend Pete, my mom, for crying out loud, I'm
6:02
not gonna cry today, but if I would, I would cry out loud for
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you. My mom asking about Costco and
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gold everyday people, but at the same time there's a price smash.
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But at the same time you've got individual investors acting much
6:18
more. I'm guys it it can happen.
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We can move into a new paradigm for the silver and gold market.
6:28
It absolutely can happen. OK, very.
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On top of that and I we said this last week what happened was
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the strangest day last week the in my decades of following
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silver in particular Thursday or Friday of last week when we had
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silver up nearly a dollar and then within hours an hour and a
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half two hours went from being up a dollar to being down for
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it. It was it was like a it was like
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a six, 7% price swing in one hour.
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That is not right. That is weird behavior.
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Strange price behavior like people who've been around for
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decades have never seen before. And I know it was painful, weird
7:15
behavior, but on top of that, retail investors flocking to
7:20
coin shops, right? We're we're hearing about
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cabinets at the local coin shops being pretty barren right now.
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Okay. Online bullying dealers.
7:30
Something is different. Something's going on.
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We got a lot more to talk about on this as well, so bear that in
7:36
mind. But but here's the double zinger
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kicker in all of this, right? All this is going on, all this
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weirdness, but we're not in a crisis.
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There's no quote. There's no official crisis.
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This is going on with what I would call the eye of a
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hurricane type environment. We're seeing demand for metals
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skyrocket, Bizarre behavior in the price, but it's all
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happening when at the same time everything's calm.
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Just ask Janet Yellen or Jerome Powell from the United States
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Federal Reserve. The economy is strong.
8:15
Ask Joe Biden. He'll tell you Bidenomics is
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working. Wow.
8:19
Thank you, Jesse, for that super chat.
8:21
Good morning to you, my friend. Thank you.
8:24
Super chats are very helpful. Never expected.
8:27
So thank you. Thank you.
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But all this weirdness, guys, think about how to take a step
8:32
back. OK, We got to look at the big
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picture. You're a deep thinker.
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I know you. You're a basement dweller.
8:38
We're deep underground right now.
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We're we're figure we're putting the pieces together.
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All this weirdness is going on and it's happening in an
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environment where there is no big official crisis.
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Imagine. Imagine if, and we're going to
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talk about this, we have another banking crisis that gets exposed
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because we do have a banking crisis right now.
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But if it officially becomes exposed, what do you think is
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going to happen for the price of the precious metals in an
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environment like that? OK, I just read an article.
9:15
An interesting article last night says that a majority of
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Americans distrust the system. Do you distrust the system?
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I do. OK, I I, I.
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My. Unfortunately, the the, the, the
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the recent decades with the leaders have taught me is to
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distrust the system. But a majority of Americans
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distrust the system. Now add that into the fray.
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Crazy behavior in the precious metals markets.
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We know what we already covered that Okay, there's no official
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crisis right now. And at the same time, you have
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Americans who are increasingly saying they distrust the system.
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Is that why people are heading to Costco?
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Everyday average people, they trust Costco to buy ounces of
10:08
gold. Think about the big picture of
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what's going on and what we could be hit with in the future.
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It's a scary, scary scenario. It's horrible what they've done
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to precious metals. You know, we know the price
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manipulation, we know all that stuff that goes on.
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But we got to keep in in within our minds, within our context,
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the big picture of what is happening out there.
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Again, no wonder. I mean I think we are moving
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into a new paradigm for silver, gold and platinum and it's just
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starting to percolate right now. It's like when you turn on a
10:55
crock pot, it's just starting to heat up in that we could be in
10:59
for a long period of very supportive environment for the
11:05
silver price and gold price. Thank you, Tony for that super
11:08
chat, my friend. Thank you.
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It's going to be crazy. Now what I'm about to tell you
11:14
is even crazier and I read this. Do you know who Michael Oliver
11:18
is? This was on King World News,
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which I'm not a regular reader of but I thought this was just a
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something that that I I know I've never thought of and I
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would venture to say likely you've never thought of and it
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will have the biggest impact on the silver price and gold price.
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Absolutely. I'm going to mute the microphone
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for just a few seconds, all 400 of you, so I can have a drink of
11:44
water. I want you to smile.
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Hey, press the thumbs up button and I'll be back because I got
11:48
something for you that is going to blow your mind.
12:04
Thank you for all those thumbs up. 400 of us together.
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Are you ready for. I don't know the can the world
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handle 400 people saying, Oh my gosh, I didn't think of that.
12:15
Maybe a few of you've already thought of this, but Michael
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Oliver laid out the facts right now.
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Are we having a banking crisis? How will that impact the silver
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price and gold price? OK, I'm going to do my best to
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simplify for you. What he said and then we're
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going to share our thoughts about this.
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We know right now if you looked at the bank stocks lately, if
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you looked at Citibank, if you looked at Bank of America, U.S.
12:40
bank, any bank stock is down, down, down, some of them 30%,
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some of them 20%, some of them 4050%.
12:50
It's almost like they're a junior, my junior gold mining
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stock. We'll save that discussion for
12:54
later, but the bank stocks are showing us right now that
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there's trouble in the banking sector.
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People are getting out of the bank stocks.
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People are selling their bank stocks.
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Why would they be doing that? Because we know there is huge
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stress, huge crisis right now in the banking sector, right?
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The the the bond yields, the the, the interest rates being so
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high are put is putting huge stress on the banks unrealized
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losses. I just read last night like they
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have another 140 billion in unrealized losses.
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They're real, they just don't have to recognize them.
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So maybe unrecognized is the best way to say it.
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Those bonds they bought three and four years ago for $100,000
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each are now only worth 70 or 60 or 78,000 each.
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The banks are in trouble. Oh, and there's this other
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little problem called commercial real estate that's blowing up on
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the banks as well. The bank stocks are going down.
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That's a good quantitative numbers pure, not arguable way
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to say that the market is recognizing big trouble in the
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banks. In your body asking what does
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this have to do with silver and gold?
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Let me tell you something. Thank you, Todd.
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Whoa. Wow.
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Thank you for that huge super chat.
14:19
Thank you. Susie's yelling at me.
14:20
The walkie-talkie is out of batteries, so she can't yell at
14:24
me. I'll ring the cowbell in just a
14:26
minute. And Jake, don't you worry.
14:28
I'll ring it loud. For those of you that don't like
14:30
cowbells, close your ears. But I want to finish this train
14:34
of thought because this is huge for gold and silver.
14:38
The banks are in big, big trouble.
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OK, banks, tell the future. Take a deep breath.
14:47
Think about that. The bank stocks are telling the
14:49
future. OK?
14:51
And gold and silver tell the future of the banks.
14:55
Gold and silver are the oldest markets in the world.
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OK, people were with beards hanging down to their belly
15:04
buttons were trading gold and silver thousands of years ago.
15:08
They are the oldest and the wisest, the oldest and the
15:11
wisest markets in the world. Like you, basement dweller.
15:14
Right. We're all old and wise.
15:17
Some of us are young. We're all young at heart.
15:20
But, but, but and that was a huge super chat.
15:23
Thank you but gold tells the future.
15:28
OK, the banks are telling the future of what's going on in the
15:31
banking sector. But gold and silver very likely
15:35
are telling the future of the banks.
15:38
And when gold and silver are puking, sorry to use that word
15:44
like they did, they're telling us there's trouble in the
15:48
banking sector now. Now what does this have to do
15:51
with the price of gold and silver, you may ask?
15:54
It has everything to do with it because the Federal Reserve, and
15:59
if you look back at 2007 and 2008, the Federal Reserve is not
16:06
going to let the banking sector collapse.
16:09
And the same thing happened back in 07/08, right?
16:13
First, the bank stocks went down, the regular market, right,
16:16
we got the fantastic seven, the S&P 500, it's been going down,
16:20
but it's not crashed. But the banks have crashed.
16:23
As soon as the banks get in real trouble that that will be when
16:29
the Fed will pivot. We think, oh, the whole markets
16:32
got to crash. The whole market.
16:34
No, it's going to be the banks that'll happen 1st and gold and
16:38
silver right now are saying things are going to get much
16:43
worse for the banks and when it does get even just a little more
16:47
worse for the banks. Jerome pound, the Federal
16:49
Reserve is going to pivot, officially pivot and that is
16:54
going to be the absolute right most supportive.
17:00
Unfortunately we have to deal with the Wizard of Oz make
17:03
believe world of the Federal Reserve and all that crazy
17:05
stuff. But that will be the most
17:07
absolute positive environment than you.
17:10
Yes, you could ever ask for for the precious metals prices.
17:16
Remember what happened in the 70s, guys, we're doing it right
17:20
now. We're doing it right now.
17:22
Let me ring that cowbell. Before I forget, We got 200
17:25
thumbs up. We ring the cowbell.
17:34
That's the way I show appreciation.
17:36
That's from our friend Joe, a fellow basement dweller.
17:39
You brought that by in person here to the basement.
17:42
Thank you, Joe. I hope yo Joe are doing well.
17:45
So when this Fed pivot, pivot, pivot happens, and it's going to
17:50
happen because Gold tells the future of the banks and silver,
17:56
it's going to be off to the races.
17:58
Do you do you want some good news?
18:01
I'm here to deliver some good news this morning from the
18:04
basement. My friends, do you want some
18:06
good news? Look back at what happened in
18:09
the 70s with gold and silver, because that's a very similar
18:14
environment to where we are today.
18:17
Don't forget say thank you to our sponsor Pin Becks if you
18:21
want to get your gold and silver before it possibly takes off
18:24
because I don't have a crystal ball.
18:26
Don't make any financial decisions based upon what I say.
18:30
I'm just sharing with you what I think I see happening in the
18:34
future based upon what I know are facts.
18:37
Pinbacks, Pi MB, EX online bullion dealer.
18:41
I use them. I did my research on them.
18:43
I would encourage you to do your research on them as well.
18:48
To me trustworthiness selection, price, they were the best.
18:54
So if you're out looking for some metal, check out pinbacks.
18:57
Because in the 70s and in the 70s, let's just say silver from
19:03
its low to its high was up like 30 or more time 30, not 30%.
19:09
Thirty times gold, basically the same thing 20 times during that
19:16
period. It can happen again.
19:19
People get mad when they say when when we talk.
19:22
I said $45,000 gold earlier, Well that's like 25 time
19:28
increase. That I agree is a preposterous
19:32
thought. But didn't that kind of happen
19:35
during the 70s? What about silver?
19:39
Right up 35 times during the 70s?
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I know, peak to peak, whatever I'm like.
19:45
But still that's $600.00 for silver.
19:51
And heck, we didn't have as much debt back then as we have now in
19:55
this country. I would argue that the financial
19:59
finance, but what do you think about this, what do you think
20:03
the financials situation of the United States in the 70s, the
20:08
political situation in the United States in the 70s, the
20:13
world, geopolitical situation in the world in the 1970s.
20:19
I would say that now, compared to then, things are in much
20:24
worse shape overall. Right.
20:27
I mean, come on. We've got $33 trillion in debt.
20:31
I'm probably 30-4 trillion if I stay on this live stream with
20:34
all 500 of you who have graciously joined me as basement
20:39
dwellers. Welcome, basement dweller.
20:41
Yes, you. You're welcome here nonetheless,
20:45
right? We know things are more screwed
20:47
up now, right now than they ever were in the 70s.
20:52
Think about this. What is this?
20:53
How does this make you feel? How does this make you feel?
20:57
OK, from 1970 to 2020, if my mathematicals are correct,
21:03
that's 50 years the United States basically enjoyed
21:09
greenfields, sunny skies, unicorns, and rainbows.
21:14
We ruled the world, right? We we were the the world power.
21:18
We had all the money. Everybody used the dollar.
21:21
Everybody relied on the United States of America.
21:24
We won the Cold War. We did, You know, excuse me,
21:29
Overall, it was a very agreeable environment for the United
21:34
States of America. 1970, the year I was born through 2020.
21:41
But even in that green, green, grass, blue sky environment,
21:44
what happened to the dollar? I'd say the US dollar probably
21:47
lost half of its value during that period, right?
21:51
Is that not correct? So let's just forget about 2000.
21:58
Well, let's let's forget about up to today, 2020 to 2023.
22:02
Sorry, my brain was ticking. Let's go out the next 50 years.
22:08
Do you think we're going to be in such a conducive environment
22:12
for the United States? I would argue no, no, absolutely
22:19
not. It's not going to be such a blue
22:22
sky Greenfield Unicorn. No, I'd say we got storm clouds,
22:27
we've got a dried out field of cuts out or whatever that weed
22:33
is called. We are going into the next 50
22:35
years, which appear to be much more challenging.
22:38
And we have all this debt, right.
22:41
What's going to happen to the dollar in the future?
22:45
I mean, it did crappy, excuse my French, under the previous what
22:49
was very conducive environment. What's going to happen when the
22:52
environment's not so conducive? You know what's going to happen
22:55
in real terms? Real.
22:57
And this makes me mad. This makes me mad.
23:01
OK in real terms your dollar is going to go down in value.
23:04
In real terms, silver and gold are going to do very well.
23:09
So we'll platinum Neil from Neil Hans Dynasty the platinum guru.
23:12
And thank you for all the moderators being here today.
23:15
Please say thank you to all the moderators.
23:17
I my computer turned off. Annie Oakley coin shop Chris OK
23:22
Jake's custom parts. Whoo.
23:24
You guys are flying by me here. Susie.
23:26
Susie my wife. You can say thank you to her
23:28
too. But the real the real value is
23:32
going down. Now just I want you to I want
23:36
you to think about I'm going to, I'm going to, I'm going to
23:38
reblow your mind because hopefully I blew your mind
23:41
earlier because don't forget gold tells the future of the
23:46
banks. But think think back, think back
23:48
15 years. OK.
23:50
The dollar strong. Why?
23:52
Why did gold and silver? Why are gold and silver
23:54
struggling so much over the last couple of years?
23:57
Over the last few days? Because of a strong dollar. the
24:01
US. The mighty dollar.
24:03
The strong dollar. Everyone loves the dollar.
24:06
OK, now, now, now, now. I want you to think back.
24:11
And it's true. The DXY.
24:13
That's how they measure the dollar.
24:15
The DXY index. Research it sometime.
24:18
If you don't know what it is, put it into Google.
24:20
Look at MarketWatch. They got a chart.
24:23
Go back 15 years. The DXY.
24:24
Was it 80 today? What's I didn't even look for?
24:28
I came on it was 107108 the other day, right?
24:31
The dollar strong, right, from 2008 through today, last 15
24:37
years, it went from 80 all the way up to one.
24:41
Oh, it's up 30%, the dollar strong.
24:44
Oh, OK, really. Well, let me ask you, if the
24:47
dollar in those 15 years has gone up 30% in value, why is it
24:52
that today when I take $100 bill and go to the grocery store, I
24:57
get half as much as I did with my $100 compared to 15 years
25:03
ago, right? That's called real value, right?
25:07
The 80 DXY to 108, that's called relative value relative to a
25:12
bunch of other crappy six other currencies they compare the
25:15
dollar to. The real value is how much gas,
25:19
how much food, how much housing. You know, whatever you're into,
25:23
How many comic books, how many, oh, Ding Dongs, How many Ding
25:28
Dongs? Coin shop Chris today can only
25:31
get half as many Ding Dongs with his $100, right?
25:36
Today he can get about 300 Ding Dongs with $100.
25:39
But I guarantee you, 15 years ago he could get 600 Ding Dongs
25:44
with $100. That's the real value.
25:48
So when they throw out this bulk of Pookie about the dollar being
25:52
strong and that's why gold and silver are down, don't fall for
25:57
it. That's part of the smoke and
25:58
mirrors that the Fed and the mind that they put out there,
26:02
right. No, what what has, what's held
26:04
its value over that period of time and even more over that,
26:09
you know, silver, gold, everything else.
26:11
Thank you, Shelly, for that super chat and thank you.
26:14
I want to say real quickly Todd Pauley, wow, $50.
26:19
You know and Shelly $10. That is so appreciated and goes
26:23
a long way. But don't, don't, don't fall for
26:26
it. Now here I got, we got a lot
26:28
more to talk about. Guys, you want to talk about a
26:30
depression? Nobody talks about depression.
26:33
Nobody. That's why I'm scared we might
26:36
actually have a depression. And when you look at all the
26:38
factors that we've discussed you does.
26:41
Could we be heading, we be heading for a depression.
26:44
I mean, we know because we are. We hang on that guy's every
26:49
word. The president of the United
26:51
States of America. Joe Biden and Bidenomics.
26:56
Or is it Bidenom tricks? I'm not.
27:00
I don't know, you know. But according to Joe, it's
27:03
working. So he doesn't like when I do
27:06
that. But at the walkie talkie's dead,
27:10
so I can say whatever I want. But are we heading?
27:13
Somebody might want to tell Joe that we could.
27:17
I'm not saying it's going to happen, but are we headed to a
27:20
depression? Like really hard times.
27:23
And and there's a one data point that points possibly, possibly
27:28
in that in that direction. Let me just read a couple points
27:33
to you from here. Hal Turner.
27:36
I have no idea who Hal Turner is, but he says US money supply
27:41
is officially contracting down 3.7%.
27:47
Do you look at the US debt clock?
27:49
OK, that's that website that has all these different debt numbers
27:53
and there's all these different silver numbers.
27:55
And by the way, everybody's always up in arms.
27:57
So why does silver say zero? That's because the silver and
28:01
gold, the current numbers on the debt clock, show the growth in
28:04
money supply. And this is very important, this
28:07
indicator that's going towards Depression Zone.
28:11
Hold on, I'm trying not to make noises in the microphone.
28:19
It compares changes in the money supply to changes in the amount
28:23
of silver and gold that are mined.
28:25
And this indicator right here, money supply is shrinking.
28:30
It's called M2. Let's put on our thinking caps,
28:32
M2 money supply and I need to ring the bell.
28:37
You guys did it again, 300 thumbs up.
28:40
I'm going to continue to ring the bell with my nose until I
28:43
lose a sponsor over it. So let me grab the nose bell and
28:47
let's do our tradition. That's a silver bell that was
28:53
sent to me by one of the viewers.
28:55
I always love when you guys send me stuff.
29:02
I'm never going to do that again into money is all the money in
29:07
the system bank accounts cash everything.
29:10
OK. It is shrinking.
29:11
What does that mean for silver and gold Well on the on the dead
29:15
clock it means that it shows that silver and gold are at 0
29:18
because the the the amount of money is shrinking in the
29:21
system. But what does it mean in regards
29:24
to the fact that we could possibly do, you can you fathom,
29:29
be heading towards a depression? OK here.
29:32
Quickly warning, the money supply is officially
29:35
contracting. This is only happened five times
29:39
in the previous 150 years, but each time a depression with
29:48
double digit unemployment rates followed.
29:51
We've only seen the money supply shrink five times in the history
29:55
of the United States in the last 150 years.
29:59
But every time the money supply did shrink, we had a depression
30:04
in the in the past 150 years, the US Money OK Here 2 money
30:08
supply metrics that investors are Pay attention to our M1 and
30:12
M2. The former M2 accounts for the
30:14
cash and coins in circulation as well as the demand deposits
30:20
within an individual's checking account.
30:22
Meanwhile, M2 factors in everything in M1 and adds money
30:26
market account, savings account, CD's.
30:30
The main difference is that M2 factors in cash.
30:33
That takes a little extra work to get your hands on.
30:37
As far back as the eye can see, M2 has been climbing.
30:42
Since the US economy steadily grows over the long run, it's
30:45
only natural that more cash capital is needed to facilitate
30:49
transactions. So M2 is always rising, but now
30:54
very unusual. We have the money supply
30:58
shrinking and you know how do you, how do you think about this
31:03
when you look at the big picture of what's going on in the kind
31:06
of we've we've covered all this the the the the the the freight,
31:11
the freight rates the, the amount of freight being shipped
31:14
around the country down 10% on trucks 5 or 10% on rail.
31:20
We just got news from the New York, New Jersey Port Authority
31:24
that their their traffic coming in on these big container ships
31:28
is down 20%, right? We know, we know.
31:32
Here's another another horrific, scary situation consumed that
31:38
says the headline Consumer crashed credit card spending
31:43
cratered in September. You know why credit card
31:47
spending crater? Two reasons.
31:49
People don't have any money left on their credit cards.
31:53
They've maxed out their credit cards, and those who haven't are
31:56
shaking in their boots. OK, and and factor all that in.
32:05
What does it mean that the money supply shrinking?
32:07
And we know that every time that's happened in the past it
32:10
is a preview for a depression to come.
32:15
I don't know. Right.
32:17
I don't. We, you know, it could get ugly.
32:22
I'm not you look we don't. We're not complete doom and
32:25
gloom, you know people here in the basement.
32:27
But it could get ugly. What would happen to the value
32:31
of silver and gold either during a deflationary depression type
32:36
environment or or if the Fed free You think the Fed would
32:42
pivot, right? If we if we start to hit a real
32:45
recession, I don't know what you call it.
32:48
What's a more exaggerated form of pivoting?
32:51
You know, I, I, I I could see Jerome Powell and Janet Yellen.
32:57
They wouldn't just pivot folks. They'd be doing backflips on
33:01
CNBC for everybody. Janet and Jerome would be at the
33:07
local trampoline park doing backflips saying don't worry
33:10
guys, we're going to flip. We're not just pivoting, we're
33:13
flipping. We're going to, we're going to
33:15
pump so much money into this system.
33:17
Silver and gold are going to do very, very, very well.
33:21
OK, now let's talk about my friend John Forrest Little
33:27
talked about you and talk about 25 X in Gold Okay.
33:32
I'm going to touch on this briefly, but John Forest Little
33:35
is at the Pickaxe. He's on sub stack.
33:38
He's a guy who's been following the precious metal sector for
33:42
years and years. I've done a couple interviews
33:45
with him. He's very intelligent.
33:47
He works with the guys at the Silver Degen club.
33:51
But John put out a piece of research that I thought was very
33:55
interesting about Gold and 25 times.
33:59
Could you can we again, right, $45,000 gold, right.
34:04
I mean it's we we our minds don't don't compute that.
34:07
We think it's crazy. But again if we look at the
34:12
returns we had in the 70s and 80s, it's not that far out of
34:15
the question. But let me tell you in a
34:16
nutshell how John and I'll put a link to his work in the
34:20
description of this video. But he pointed out, well, let me
34:24
let me just here, I'll read it. I'll read a couple of little
34:26
blurbs for you because I don't want to miss misstate anything
34:30
and I always do my best to be accurate.
34:34
OK, here we go. Bear with me.
34:40
Bear with me. Bear with me here.
34:46
Fundamental value of gold. OK.
34:51
He looks at the total amount of debt in the world right now.
34:55
Just debt. OK, $307 trillion, that's the
35:01
amount of debt in the world. It's crazy guys.
35:06
We are in crazy town. What does that mean, 307, if you
35:10
want to back that up with all of the gold in the world, right.
35:15
So this this compares the total amount of debt 307 trillion I
35:20
mean and and you want to back that up with all the gold in the
35:23
world, you're looking at 6.7 billion Troy oz.
35:28
That brings the price of gold to 45,821 dollars.
35:35
Okay. Today's paper price of gold is
35:38
$1800. As we are all very aware,
35:43
45,000, the 45,000 per oz level is 25 times greater than that
35:50
1800. It's it's it's crazy.
35:54
And are we are we are we are we making an error to compare the
36:00
value of gold to all the debt in the world?
36:03
I don't know. Right people right.
36:05
Modern monetary people say, oh that doesn't that that that's
36:08
your, you know that doesn't make sense.
36:10
That's a well, I don't know. Right.
36:13
What about what about that guy who used to work at the Federal
36:16
Reserve? Remember him?
36:18
There's a guy who was an economist at the New York Fed
36:21
for for decades, I believe, and he didn't die all that long ago.
36:26
His name was Johnny Exter, and we love Johnny Exter because
36:31
Johnny was the one guy who told the truth about the monetary
36:37
system, he argued. I mean, this guy was crazy to.
36:40
Have you heard about him? He had a pyramid, and he turned
36:43
it upside down. And he said at the bottom of
36:46
that pyramid, right down there, that little bitty, bitty, bitty,
36:49
bitty bit that was all the gold and silver in the world and that
36:53
all that other stuff made-up. Make believe, you know?
36:58
Right. Make believe.
37:00
Hello. Make believe I can't show you a
37:04
bit. Here's a Bitcoin.
37:05
There. Make believe.
37:07
Oh, here in my bank account at my local bank.
37:10
Here. There's my balance right there.
37:12
See it. Make believe.
37:14
What about all the derivatives, right?
37:16
We're not talking billions. We're not talking 307 billion of
37:21
debt in the world. No, we're talking quadrillions.
37:25
We took billion to a whole new level. 1000 billion or 5000
37:30
trillion is a quadrillion. We don't even know how many
37:33
derivatives there are. You hear all kinds of crazy
37:35
numbers, OK? All of that.
37:38
All of that rests on this little, tiny, little, itty
37:41
bitty, bitty bit of silver and gold.
37:44
Do you have some of the what do you think that means?
37:47
What do you think that means? Right?
37:49
Because eventually all that made-up stuff, right.
37:53
We let's look at history. Let's talk about what Lynette.
37:55
Lynette Zhang. Remember Lynette Zhang?
37:57
That's what my mom said the other day to me was that Lady
38:01
that I interviewed. Very nice lady, very smart lady.
38:04
What is Lynette Zhang? She's got a stack of all kinds
38:08
of different paper money that's been created over the years.
38:12
Like there's hundreds, thousands of Fiat make believe monies that
38:16
have come and gone because once they're not completely tethered.
38:22
I love that word tethered. I hate the word pivot, but I
38:25
love the word tethered. Will you have to have your money
38:30
at minimum tethered to gold like a like an anchor on the bottom
38:35
of the ocean. The boat can float around,
38:38
right, but it's tethered to that anchor.
38:41
And I will argue and you'll say I'm crazy and and you know
38:44
you're probably 51% right and saying that.
38:47
But nonetheless, I would argue, I would argue that no matter
38:51
what they say, no matter Jerome Powell is the Wizard of Oz, no
38:56
matter what he throws out there wonderful stories and all this,
39:00
you know, blah blah blah, blah. Silver and gold are still
39:05
backing everything right now. Most of you probably don't even
39:09
agree with me on that. But I think and I know if I look
39:12
at 100 years, if I look back 100 years, if I look at 1000 years
39:18
and I can see out there 1000 years from now, we are going to
39:21
be really old, you and I. But if we look back 1000 years,
39:25
it's always been the case. It always will be the case.
39:28
It's crazy. Want to talk about crazy?
39:31
Absolute crazy. Well, let's talk about Canada
39:37
and Costco. I think the Costco thing, you've
39:41
heard me talk about it. I won't go on and on.
39:43
I'd like to get a little sip of coffee, if that's OK with you.
39:45
I want you to stay with me, all 600 of you.
39:48
Thank you. OK.
39:49
And I'll be right back. I I apologize to you, OK?
40:08
Because I'm not trying to poison your brain, but I really think
40:12
the Costco thing was A and the best word I can think of is
40:16
catalyst, but there's got to be other a sign.
40:19
A Canary in the coal mine, right?
40:23
That that what we are seeing in the metals market that it's
40:27
changing. OK, let me read this to you.
40:30
This is about Canada and Costco. Papa, hold on here.
40:36
This is from my friend Michael. Here we go from the from CBC.
40:41
Costco now sells gold bars. This is in Canada.
40:45
But are they a good investment? So let me tell you, this is
40:49
great. This is typical what silver and
40:52
gold investors deal with. It's a great article about how
40:56
Costco Canada is selling gold and how people are buying gold
40:59
and it tells the price of the gold, you know, doesn't say
41:02
anything about silver yet, but it's talking about gold.
41:05
But then then it turns into a hit piece.
41:09
Then they start putting you down, OK, if you're a gold
41:12
investor, silver investor, he said.
41:15
Gold is an awesome. Gold is awesome for people who
41:18
have really unstable currencies, right?
41:23
Well, that would be everybody, my friend.
41:28
This is Will Huggins. He's an associate professor.
41:31
Oh, he's in academia, a finance and economics at the McMaster
41:37
University's De Groote School of Business.
41:40
So it's good if you have an unstable currency and can and
41:44
can represent an attractive stable investment.
41:47
Here's what he says here. I'm not in Kanata, so maybe our
41:50
Canadian friends, because then he goes on to say it's just not
41:54
a real problem we have in Kanata, right?
41:57
Like we don't we don't have that problem here.
41:59
We have a real stable, good currency.
42:02
I don't know is your currency in Canada lost any value?
42:05
I think it has gonna look at the the exchange rate here, he said.
42:11
He said it's not like a herd of cattle or some land or a
42:14
corporate entity. It's just a yellow rock, that's
42:19
all that is, right? So this this turns into a hit
42:22
piece, OK? He said some other mean things
42:28
about us. Hold on.
42:31
Here we go, here we go. For the most part, the reason
42:36
people buy gold is because they've been told the same story
42:40
we all heard as a kid. That gold was a hedge against
42:44
inflation. And as a result, when we start
42:46
to see the ghost of inflation rising back up after 40 years,
42:51
people think I should buy some gold.
42:53
OK, Michael, thanks. So pretty much anybody who can
42:56
sell gold is able to tap into people who have these fears,
43:01
inflationary fears. Then he talks about how it's
43:04
people in their 70s and 80s that are really scared and and
43:08
falling for this, you know, gold trick.
43:11
I don't know. So buying gold is mostly done
43:13
because people are afraid, not because it's been a great asset.
43:17
No, it's been not a great asset over the last thousand years.
43:20
No, not at all. It hasn't done anything in three
43:23
years. It's the same price.
43:25
It was, you know, two months into the pandemic.
43:29
Anyway, I just thought that was interesting that again, you
43:33
know, we get a story about people buying gold and then of
43:36
course, that's from the Canadian Broadcasting Corporation.
43:40
They have to crack, they have to smash down gold.
43:45
We had some good news today out of Fortuna Silver Mines.
43:48
Guys, I'm not giving financial advice.
43:51
I'm not telling you what to do. But these mining stocks are so
43:55
incredibly undervalued right now.
43:58
I would have said the same thing one year ago and I would have
44:00
been wrong because they became even more undervalued.
44:05
But Fortuna Silver is making money making profit cash flow.
44:10
I'm sorry. And and they they they announced
44:14
unbelievable production numbers today.
44:15
Check them out. Now what I like, besides holding
44:19
physical metal is owning these development companies that have
44:23
metal in the ground. Keith Newmeyer started this
44:27
company about six years ago. First mining gold.
44:32
OK. Gold Company, Keith Newmeyer,
44:35
and he's still the Chairman of the Board and he's still buying
44:39
the stock, Okay, they happen to have massive amounts of gold in
44:44
Canada. If you're interested in owning
44:47
gold in the ground, you might want to check out first mining
44:50
gold, because if you do the math and you read the investor
44:53
presentation, you'll see that you're getting gold.
44:56
It's in the ground, it's been drilled, it's been determined
44:59
all that. But you can buy gold in the
45:01
ground for like less than $10 per oz.
45:05
Sure, there's risk involved with any mining company.
45:09
There's risk involved with any company.
45:11
But at some point when the value proposition for me, just my
45:15
opinion, becomes as outrageous as it is right now, I don't mind
45:21
owning gold if I'm not going to hold it in my hand.
45:23
I like to know that it's still buried in the ground.
45:26
And I know, and it's not just the gold developers, it's the
45:30
silver developers to the pipelines of these big
45:32
companies. The big mining companies are
45:35
empty. They're going to be looking for
45:38
new projects and companies like First Mining Gold will be the
45:42
solution to their problem. They've got like 6 big project
45:46
interest in total, two of which have over 5 million oz.
45:50
Everything's in Canada. Check them out.
45:52
They they make videos like this possible.
45:55
And if you want to talk to somebody at the company, right,
45:58
a super smart, intelligent and nice guy, Paul Morris, I'll put
46:03
his e-mail address in the description of this video as
46:06
well. We got more to talk about.
46:08
We got more to talk about. This is you want to get really
46:12
mad To me, I read this last night and it and it and you know
46:18
we talk about a depression. I remember I went to a high
46:20
school called CBC, Christian Brothers College.
46:24
High school here in St. Louis was all boys.
46:26
They wouldn't let me go to a school that had girls in it when
46:30
I was in high school. Anyway, one of the Christian
46:33
Brothers came to our school one time and he, he came into our
46:36
one of my classes and he gave this talk and he talked about,
46:38
I'll never forget it, about the distribution of wealth in the
46:44
United States. And this was in the mid 80s.
46:46
OK, then he talked about how crazy it had gotten before the
46:52
Great Depression. I don't know why he came in and
46:54
talked to us about that. But now we don't.
46:57
It we are at the most absurd levels of the wealthy having
47:02
more assets than the poor. This is a mind blower.
47:05
This is this is a mind blower. And I think it could indicate to
47:09
us historically it's kind of like that money supply shrinking
47:13
thing. Historically when wealth
47:15
distribution has become this out of whack and unfair, unfair that
47:22
has has created major economic problems.
47:24
Because guys, it's like think about this.
47:26
It'd be like if I have a poker game and invite invite you over
47:29
to my house and you and nine of your buddies show up and you all
47:33
are like, yeah, I got $100, I got $120.00.
47:35
And we come and we sit down, we start playing poker and I pull
47:39
out a stack of 100,000. You guys are going to be like,
47:42
I'm not playing this game. This is rigged.
47:45
This is not going to work. He's got Ron's got 100K and we
47:48
all have 100. Listen to this, listen to this
47:52
statistic because it's a sad commentary on what's going on in
47:56
this country right now. I'm going to use my bedroom
47:59
voice, OK, the top .1. And I'm going to give you an
48:03
example from these numbers that will blow your mind.
48:07
The top .1%, not 1% point 1% of Americans own 11.4% of the
48:17
country's assets, so the we'll say 11%.
48:22
The poorest 50% of Americans own just 6% of the assets.
48:31
So. So .1 percent is 1 in 1000.
48:38
OK, 1% is 1 in 100.1 percent is 1 in 1000.
48:44
So one person out of every Let's just take a thousand Americans.
48:50
Okay, We're going to line them up or put them in a room
48:53
together. There's one guy.
48:55
Okay, there's one guy who owns almost twice as much.
49:01
One guy out of 1000 owns twice as much as the poorest 500
49:07
people in that room. Okay.
49:11
It doesn't work. Okay.
49:13
I'm sorry. And it's a sad commentary on
49:15
what's going on in this country. We have, we, we.
49:19
You don't. And you're not going to hear
49:20
about that on the Today show or on the Children's News Network
49:24
because you know why that point 1%.
49:27
They control the media. They don't want people to know
49:30
that that's the case. That's an absolute fact.
49:35
But what more important when it comes to this?
49:36
What does that mean for precious metals, silver, and gold?
49:41
It's like the snake eating their own tail, their greed and hubris
49:46
at the top, right? Eventually they wind up shooting
49:49
themselves in the foot, figuratively Okay, and the
49:53
system crashes because people just give up.
49:57
And we're seeing that already. Think about this, right?
49:59
Welcome to October of 2023. If you have student loans,
50:05
you're supposed to be paying them back.
50:08
But like 44% of people who were surveyed, they said I can't
50:13
afford. I'm just not going to pay them.
50:15
I'm just not going to pay my student loans.
50:18
And I wouldn't be surprised. I'm not saying it's right and
50:20
wrong or anything else, but even with credit cards and car
50:24
payments, people are just like force majeure.
50:27
I give up. I can't do it.
50:29
It doesn't make any sense. Right times are tough out there.
50:33
Speaking of times being tough out there, right, It's not so
50:36
tough that you can't afford a couple of little small luxuries.
50:39
And one of those small luxuries, it's commercial time, is our
50:43
other sponsor, Weber Seasonings. You can get these at Sam's Club
50:49
and I know that you're a person who likes good value, so you go
50:53
to Sam's Club, but you can get the gold standard of seasonings
50:59
and there are tons of great recipes out there.
51:02
There's a website you can go to called The Real Kitchen.
51:06
Check it out Okay. I happen to know the guy that
51:09
made this website. It's fabulously successful and
51:12
it's got some unbelievable great recipes on there.
51:15
But on top of that, right for the let's say let's say instead
51:19
of going out to eat with your family, you go to Sam's.
51:22
You can get like 4 awesome meals at home for the price of what
51:27
you'd pay to go out to get one mediocre meal at a restaurant.
51:30
So check out the real kitchen, OK.
51:32
There's a link to it in the description as well.
51:34
But check out these Weber seasonings.
51:37
Look, I got a little Weber Bear, Sam, that's Mr. Weber Bear.
51:42
We all love them. I think you will too, guys.
51:45
It's nutty out there, you know, and I talk about unbelievable
51:49
value right now in the mining stocks.
51:51
It's true, OK. The mining stocks are just beat
51:55
to a pulp. I've never seen value
52:00
opportunities like we've had recently.
52:02
OK, it's going to be interesting.
52:04
Let's not forget, let's not forget the truth of what's going
52:08
on right now. We talked about this, OK?
52:12
Crazy, weird, bizarre behavior in the silver price silver
52:18
market. Same thing with gold and
52:21
platinum. That's a fact.
52:23
It's not right. What happened last week is not
52:26
right. It's a sign of things to come.
52:30
We've got the Costco thing. I'm like the only person who
52:33
thinks that's a big sign. I'm prop.
52:35
Maybe I'm wrong, right? I'm not.
52:36
I'm just to me, my gut is telling me my Spidey sense that
52:40
there's something going on. We've got coin shops that have
52:46
exploding sales right now, which is opposite of what happened.
52:52
Susie's Hold on a second. Susie's yelling at me.
52:55
Yes, dear. Oh, Susie would like us to get
52:59
400 thumbs up so I can ring the gong.
53:01
See the gong. We're going to ring it.
53:05
We've got craziness, right? This is, that's a big deal that
53:09
right now people are buying silver and gold by crazy.
53:15
You know, we're not going to have to sponsor YouTube content
53:19
creators like me soon, these bullion dealers, But they will
53:22
because, you know, we stick with each other through good times
53:25
and and challenging times. But here's the big take away.
53:29
Here's the big key All those craziness going on right now is
53:35
is happening in an environment where there's not a crisis.
53:40
Okay. Remember what happened back in
53:42
March, April when we had a little mini crisis?
53:45
What do you think is gonna happen, guys, if we even hit a
53:48
mini crisis? I was talking to Jake from
53:50
Jake's custom parts last night and I'm hopefully I'm quoting
53:54
him properly, but he said like basically said, there's like 50
53:58
different Black Swan possibilities, right?
54:01
There's a bunch of black Swans flying around right now.
54:05
If one of those black Swans makes a crash landing, what's
54:09
going to happen to demand for silver, demand for gold?
54:12
I think it's going to be crazy. We got 400 thumbs up.
54:14
I'm going to go get the gong and ring it.
54:25
I'm the only silver and gold YouTuber with a gong.
54:28
We're going to get 4 rings of the gong.
54:30
Think peaceful thoughts. Those of you who don't like
54:32
gongs and bells. All right, man, you guys are the
54:43
best. Hold on a second.
54:44
Hold on a second. Hey, Todd.
54:45
Wow. Thanks again, Todd Pauley for
54:47
that unbelievable super chat. All the Super chats.
54:52
I'm a lucky guy. Annie Oakley, thank you for
54:55
being here. Jake.
54:56
Susie. Coin shop.
54:57
Chris. Did I forget Neil?
55:00
Is Neil here? Neil.
55:02
Thank you, Jim McDaniel. I need a bigger gong.
55:05
Yeah, somebody sent me the gong. I love the gong.
55:08
The gong is awesome. Tibetans.
55:11
Yeah, I'm running out of space down here in the basement.
55:14
Ricky's House of crap. Oh boy.
55:18
I don't know what I'm doing for 500 yet, Ricky.
55:20
I haven't hit that. You know Tony Erickson, if you
55:24
guys have any, e-mail me if you have any ideas on what I could
55:27
do when I get 500 bikes. OK, It has to include me having
55:32
my clothes on and, but any ideas you may have?
55:36
I'm all game. You know, this is just as much
55:38
your community, your basement as it is my basement.
55:42
We got to remember that, right? I mean, this YouTube channel is
55:47
not called Ron Tube. It's called YouTube.
55:52
OK. You are just as important as I
55:54
am. You're just as important as
55:55
anybody who's participating here.
55:58
Thank you. Coin Shop, Chris.
55:59
OK. Carl Denning.
56:01
Yeah. Bullhorn.
56:03
Yeah, We'll see. All right, guys.
56:05
Thank you all and I will see you tomorrow, tomorrow, tomorrow.