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**PRECIOUS METALS** - 5️⃣ Reasons You Best PAY ATTENTION! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
Next push for the metals to get that bear's
0:03
blindfolded remove is going to come when the bitcoin
0:07
having comes and goes. People
0:09
recognize it didn't go a lot further. People
0:11
start to take profits and they're going to apply it
0:14
to where they've applied it for a couple thousand
0:16
years. Physical metals. Are
0:25
the rallies in gold, silver and the precious metal
0:30
mining stocks just getting started? Are
0:32
we in the early innings? Today
0:35
we have an extra special guest, Peter Grandich is
0:39
joining us. He brings decades of experience
0:42
on Wall Street in financial planning and deep analysis
0:47
of the gold, silver and precious metal mining stock
0:50
sectors to us today. Peter, welcome to Ron's basement.
0:54
Always a pleasure, Ron. I
0:56
see my friend over there. I
0:57
told you I was coming for him with this close. You're
1:02
coming for him. You better worry and what Peter
1:05
is referring to is the gold bear there whose
1:08
blindfold comes off at $2 ,500 gold. Peter,
1:13
I forgot to mention during my intro, darn it, that
1:15
you also over the years were featured as a guest
1:19
on pretty much every major news network out there.
1:22
What a big honor to have you
1:24
joining us here in the basement. Are
1:26
you feeling excited? Are you feeling trepidatious
1:31
about these recent moves we've experienced in the
1:34
precious metals? Let me first respond to what
1:36
you just said, Ronnie. 20 years ago, 25 years ago, I
1:42
would have said I was lowering myself to be
1:44
talking to some guy in the middle of the West and I'm
1:47
not on CNBC or some major investment conferences in
1:51
the world, but let me tell you from the bottom of my
1:53
heart and on the life of my wife and daughter, my
1:56
two most precious things God gave me, I soon will
1:59
be speaking to you now than any of those major
2:01
networks. So I'm happy to be here. I've
2:05
grown to appreciate certain people that I communicate
2:08
with and you are one of them, but that doesn't mean
2:11
I'm still not coming for that freaking bear. It's
2:16
right. Well, yeah, it's a big honor for
2:20
us, Peter. I'll throw in one last thing.
2:22
You were, when I started this
2:24
channel two years ago, you were what I consider to my
2:27
first big time guest and from there things have
2:31
blossomed and I've had the real benefit of getting to
2:33
meet some other high quality people, but in my
2:37
mind, you are still my number one big time guest.
2:40
So thank you for being here.
2:42
And when I look at the silver
2:44
and gold price, remember those movies Rocky, remember
2:47
the Rocky movies, Peter? And
2:49
Rocky's always, seems like the story line's always the
2:52
same. He's in a big fight and he
2:54
keeps getting knocked down. He
2:56
keeps getting knocked down and he keeps coming back
2:58
up. And it feels like to me that
3:01
something has changed. And maybe it started back in
3:05
December of last year. Maybe
3:07
it's just been in the last five or six weeks with the
3:09
gold and silver market and how it's reacting. I
3:12
think we even saw that this morning, we're
3:14
recording this on Wednesday, the 10th of April, 2024.
3:20
We had CPI numbers come out
3:21
that knocked down the price of gold. And
3:24
right before we came on, it came bouncing back.
3:27
Like, it's like Rocky, it just
3:28
keeps fighting back. Do you feel like maybe things
3:31
are a little different right now? Well,
3:33
I think it's important that we regress just a little
3:36
and understand that we did not, I shouldn't say we, I
3:41
know you fit into this criteria. I
3:42
certainly do some others. Because
3:44
we also had very large exposure to mining shares
3:48
and junior resource stocks up until a few weeks ago.
3:52
For the previous two years, we
3:54
were depressed even though the metals themselves were
3:57
performing extremely well. In
4:00
fact, as they performed stronger and our shares
4:03
didn't, we've got more depressed. Of
4:06
course. And as I said to you before,
4:10
we won't hear this again for decades. We
4:12
would speak at the major find a gold conferences and
4:15
all the speakers would say the same thing. Owning
4:18
mining shares is just like owning gold. Oh,
4:21
we learned that was not the case, but it depressed
4:23
us and we didn't fully appreciate how well the
4:27
physical metal prices were performing. Now,
4:31
I'll also say to you, and I know you're very much
4:33
interested in silver and people didn't like it when
4:35
I would say silver was second class to gold and
4:38
all, but even itself now has got its act together
4:42
and the metals themselves. I
4:46
would sooner, as like you said, when we speak, see a
4:48
correction and consolidation now, because I think if we
4:51
truly want much higher prices, they'll be able to
4:54
sustain themselves better with that. But
4:57
like you, I agree as we record this, and I just
5:00
did a personal update on my own channel that gold
5:05
should have fell between $50 and $100 after this
5:08
news this morning. It fell maybe $25. And
5:11
as we started to speak, it was off a couple of
5:13
dollars. You never want to say this
5:16
time it's different because it never really is, but
5:20
it's certainly acting in a better manner than we've
5:23
seen. And finally, I feel also that
5:27
the shares themselves are beginning to act in a
5:30
better manner, certainly than we saw for the last
5:32
two years. Yeah, good. I
5:35
get this feeling, Peter, because it wasn't just this
5:38
morning with the CPI numbers. We
5:40
had great employment numbers, right? Bidenomics
5:43
is doing its wonderful job. That
5:45
was what Friday of last week. The
5:48
dollar is strong, or relatively strong, measured
5:51
by the DXY. We're seeing lower odds of rate
5:55
cuts. It almost feels like to me
5:57
that gold and silver now as well are possibly, for
6:02
a lack of a better way to say this, calling BS on
6:06
the Fed, like saying, hey, you know what, maybe
6:09
there's the first crack in the confidence in the Fed.
6:13
Because like you said, with these
6:15
CPI numbers this morning, that should have raised the
6:18
perception that the Fed will be hawkish for longer,
6:20
and we should be down $50 or $100 on the gold price.
6:24
First Mining Gold is a
6:25
development company advancing two of the largest gold
6:28
projects in Canada. Springpole
6:31
in Ontario and DuParque, located in Quebec, each
6:35
already has 5 million ounces of gold reserves,
6:39
but exploration initiatives are underway at both
6:42
projects to find even more gold. First
6:46
Mining is well -financed, has zero debt, and owns an
6:49
interest in four additional Canadian Gold Development
6:53
projects. I think Ronnie, the story is
6:56
that the things we spoke about, you, me, and some
7:00
others, who had a very strong bullish flavor for
7:05
the metals in the last couple years, many of the
7:08
factors that we talked about that should bring
7:10
prices up as they have, have actually occurred. And
7:14
maybe we're not used to it being so right so long of
7:17
a period, because normally we get somehow getting our
7:19
heads handed to us for one reason or another. But
7:22
I think those are the things that are important
7:24
here. Let's address some of them that
7:26
we, you, and I spoke about, and I know you
7:28
speak about with others. First
7:30
of all, the biggest story was that the metals trading
7:33
has moved away from the paper hangers in London and
7:37
New York, and into Asia where physical demand takes
7:41
precedent and has been so, so strong. That
7:44
I think is still the overriding reason, even
7:47
today as we speak. The second, of course, is that
7:52
there's clearly a move away from the dollar. More
7:55
and more countries want to enter the BRIC Association.
7:58
Being involved in the BRICs is
8:00
anti -dollar, and that's just a tie that Wall
8:04
Street is just missing completely to not understand
8:08
what this means and how I believe that in a few
8:12
years time, the BRICs will do to world trade similar
8:16
to what the Industrial Revolution did. And
8:19
that's being driven by gold because there's an
8:21
underlining belief, and I think we're seeing enough
8:24
strong hits to suggest that these countries are going
8:27
to be more favorable to employing gold in some sort
8:30
of new or alternative to the dollar. And
8:34
finally, the last and perhaps most important thing
8:36
is that outside the US, where there's still a lack
8:40
of true interest in the metals, people are buying
8:47
gold and to some extent silver as an investment,
8:50
not just for protection, but to actually make
8:53
capital appreciation. Listen, that's what I did, Ronnie.
8:56
I did something that was very
8:58
unusual, and I'm certain that 1 % others did in
9:01
2021. I said by the end of that
9:05
year, I thought gold would outperform stocks and even
9:08
bonds and not to own general stocks or bonds,
9:11
take gold over that as a choice. And
9:13
guess what, Ron? It did. The
9:15
bottom line it has. So I think a long, long
9:19
answer to your original question is, is it this
9:22
time different? If it's not different, it at
9:25
least feels different. Yeah. You mentioned this idea
9:29
that outside of the United States, when we look at
9:32
the 1 .4 billion people that live in India, the 1
9:37
.4 billion people that live in China, almost 3 billion
9:42
people, almost 10 times the population of the United
9:44
States. And that's just, I like to
9:46
say, the I and the C, the IK and the BRICS. There's
9:50
eight additional countries as well, all of which hold
9:55
gold and silver in a much different regard than we do
10:00
here in the United States. So
10:01
we know there's robust demand in those countries.
10:06
And if we look at what's going
10:08
on here, I'm sure you hear the same thing, right? Like
10:10
there's been ETF outflows, the retail, silver, and
10:15
gold demand has picked up a little bit, but compared
10:19
to, I heard Andy Scheckman say, compared to a year
10:22
and a half, two years ago, demand is somewhat subdued
10:25
right now. I guess my question is that
10:28
in light of the fact that as we're recording this, we
10:31
have silver trading somewhere around $28 per
10:35
ounce and gold trading around $2 ,350 per ounce.
10:40
What's going to happen if our
10:42
fellow Americans and people in other Western countries
10:46
do wake up and start to allocate even the smallest
10:50
amount of their portfolios into silver, into gold, or
10:54
forbid into precious metal mining stocks? Well,
10:59
there's always been an argument, there have been
11:01
studies over the years, just a one or 2 % shift
11:05
out of paper assets, whatever they may be at
11:08
the time, into the physical market, what dynamics can
11:13
change. I think we're seeing that,
11:16
again, outside the United States. The
11:20
vast majority miss, and then the hindsight always
11:24
was, we had a false leader or we had a false premise.
11:27
I think the false premise
11:28
currently is Bitcoin. Now, that's going to create
11:31
anybody that sees this that's in Bitcoin. It
11:34
just, you might as well call their mother every
11:36
name in the book, because that's how they feel that
11:39
you have. You want me to call you, if
11:40
you want me to call you a few dirty names, Peter, to
11:42
get it out of the way? Dirty
11:44
names would be the easiest part of what they do. Some
11:47
actually send life -threatening emails that
11:50
somehow you're this person that should be done away
11:54
with because you're ruining life for people and the
11:58
cult and all this other stuff that I get. But
11:59
why I just bring that up is that it's not to say
12:03
that somewhere's down the line, Bitcoin or
12:06
cryptocurrencies will be part of something, but to
12:10
be the end all and cure all first is something that
12:13
worked for a couple thousand years. Nobody
12:16
that's really doing a fiduciary responsibility,
12:19
which I still think even though I don't manage money
12:22
personally anymore, but our group, our planning group
12:25
does, I think one of the first responsibilities is
12:28
that you give respect to something in anything, in
12:31
any shape, not just investing. If
12:33
something worked for a couple thousand years, you
12:37
have to start to argue real hard why it shouldn't
12:39
continue to work now. And so the people here that
12:44
have choice that said, oh, gold is a, you know how
12:46
many times I heard it was a relic and pet rock and
12:49
all this other stuff and the argument all is and
12:52
all this hype and the hype is never ever. I've
12:55
been at this 40 years, Ronnie. Nothing
12:57
from an investment product has been hyped to the
13:00
level that Bitcoin has in the last 12 to 24 months.
13:05
And yet despite all of that,
13:07
if you look at it in the broad range of the last
13:10
couple of years, it's not gone anywhere fast. So
13:13
my argument has been is once this halving comes,
13:16
which is supposed to be due any day or week now,
13:19
what else are they going to have to propel it
13:22
further? And the thing that they said
13:24
you should be getting out of just keeps making new
13:27
all time highs. So I think the next push for
13:32
the metals to get that bear's blindfolded remove is
13:36
going to come when the Bitcoin halving comes and
13:38
goes. People recognize it didn't go a
13:41
lot further. People start to take profits and
13:44
they're going to apply it to where they've applied it
13:46
for a couple thousand years, physical metals. If
13:49
you're looking to buy gold, silver or platinum, do
13:52
yourself a favor and check out Pimbex, the online
13:56
precious metals bullion dealer and sponsor of Ron's
14:00
basement. I was a happy customer before
14:02
they offered to support the channel. You'll
14:05
find they have the best prices, quality and service.
14:09
I think Pimbex is best and
14:11
you will too. And be sure to tell them that
14:14
you're from Ron's basement. Yeah.
14:16
And it's been somewhat absorbed by the mainstream
14:21
financial industry, right? We
14:23
have fidelity, black rock. And
14:27
I know that for many years, that was one of the
14:29
arguments with Bitcoin is, well, it exists outside of
14:33
the mainstream financial system. And
14:37
now it's been somewhat absorbed by it. And
14:40
I'm not anti Bitcoin, but I think there's certain
14:43
components that need to be looked at when we talk
14:47
about crypto. One thing that I think is a
14:49
benefit and something that we share between the
14:53
precious metals and the crypto world is the base
14:57
understanding that this fiat system, money printing, the
15:01
fiscal monetary policies are doomed. I
15:05
do think we share that common ground and who
15:08
knows, right? A lot of the people that
15:10
maybe own Bitcoin now could easily be, I don't want to
15:16
say converted, but could become interested in silver
15:19
and gold. Well, I'll just say this much
15:22
because I know just spending this time, this
15:25
will fall into some Bitcoin cult members and we'll hear
15:29
about it through emails. I get texts. I
15:31
even get phone calls to our offices telling me how
15:34
crazy I am and all that kind of stuff. I'll
15:36
just say that if you look at the original premise and
15:39
study what the person who's supposed to be created it
15:42
and the reasons for, Wall Street has done so much to
15:46
damage those things, to bring it into a general
15:49
criteria and to have exchange traded funds over
15:53
it and all takes away from the very theory that just
15:56
a couple years ago we were sold on why you should own
15:59
it. So I'll just say this, it
16:02
certainly has kept some people out of metals.
16:06
There's no question the younger you
16:07
go down the food chain, the more or less interest
16:11
they are in the metals and particularly even go down
16:13
even more into mining shares and all, but I just
16:17
learned one thing. 80 % of money managers, according to
16:21
Nobel Laureate studies, underperform an index fund.
16:25
So Wall Street all pushing in
16:28
one area now and like you said, not really talking
16:31
about gold because Wall Street always treats gold
16:34
as kryptonite, it just does. And
16:36
the financial media tied to the hips does as well.
16:39
There's going to come a point in
16:41
time when people are going to say, listen, we might
16:44
have overshot our view on this thing and maybe it's
16:47
time we look at and that's going to be the group,
16:50
believe it or not, because people always tell you, oh,
16:53
you financial advisors tell us when to buy, you never
16:56
tell us when to sell. Well,
16:58
one of the times probably if it ever comes to the
17:00
point where we need to truly start thinking of
17:02
selling gold and silver is going to be when all those
17:06
type of people have switched into it now,
17:08
everywhere you walk and hear people are telling you
17:11
to buy it. We're not even close to that,
17:13
Ron, yet. But keep that in mind. And
17:16
that's probably when that group is finally going to
17:18
give in and come into something like this. And
17:21
that's when we're going to be looking for the exit.
17:22
But right now is when you
17:24
speak, I would sue in the markets, don't do what you
17:27
want them to do. But a consolidation now of this
17:30
gain and going sideways would be much healthier for
17:34
those that want to look for much higher gold and
17:36
silver prices than continually just rising here
17:39
without even some consolidation. Yeah.
17:42
Yeah. Do you think if you were to
17:44
kind of button it up and put a real general idea or
17:48
concept into or behind why people like you and I love
17:53
silver and gold, a real simple explanation would be
17:58
that the real value of the dollar is no matter how
18:02
you slice it or dice it, no matter how you analyze
18:05
the real value of the US dollar in the coming five
18:09
years, 10 years, 15 years, that when you look at kind
18:12
of the domestic situation in the United States,
18:15
socially, fiscally, monetarily, when you look
18:18
at the geopolitical situation in the world,
18:21
like you said earlier, de -dollarization going on, that
18:25
it's unfortunate because I know you're a proud
18:28
patriotic American, I'm a proud patriotic American,
18:32
but no matter how you try to, what angle you try to
18:35
look at it through, it's almost an inevitability that
18:39
the real value of the dollar is going to go down
18:41
and that that's why silver and gold are good options
18:44
right now. Well, it's certainly why I got
18:48
to the point where it began this year and in
18:50
March wrote a very detailed commentary on why it's time
18:54
to build what I call a financial arc. That
18:57
five main factors at that point in time, and there's
19:00
more of them and I'll just name them if you want to
19:02
discuss them, if not, that's fine. The
19:04
first was something that we've heard for years, but
19:06
it's finally become acute. We've
19:07
passed the point in no return and that is the
19:10
debt crisis is just out of hand. We're
19:12
now having multi -trillion -dollar yearly deficits. It
19:15
can't continue. The Congressional Budget Office
19:17
told us that we're going to be at $54 trillion in
19:21
hard debt, not counting Social Security, Medicare,
19:24
and Medicaid in less than 10 years. We're
19:27
getting to the point where financing just interest
19:30
payments are a challenge. That's
19:32
number one, it's getting worse. The
19:34
second was the retirement and aging crisis. I've
19:37
discussed it, it's only getting worse. The
19:39
third, which is really becoming acute now, and I
19:43
even mentioned today and uttered these words for the
19:45
first time to my own listening group, Ron, and
19:48
that is the immigration crisis, invasion, whatever
19:51
you want to call it, which is an economic invasion, is
19:54
now going to probably lead to silver unrest. I
19:57
think that's a real big problem that's just going
20:00
to really get bad by the time summer comes. The
20:02
fourth is the BRICS. You and I just talked about
20:04
it. The investment community has
20:09
completely blown the understanding and not
20:12
understanding what is transpiring by what's
20:14
happening with the BRICS. And
20:15
then the fifth, which is the one thing we would
20:17
hope could fix any and all problems, is the worst of
20:20
it all, political paralysis. The
20:23
Democrats and Republicans cannot go in a room and
20:26
make real good legislation anymore. And
20:28
compounding that problem, there's fractions in each
20:31
party now that are moving away from the center of
20:34
the party. So the left, there's certain
20:36
that are going more left and there's more going
20:38
right. So I don't see how we don't
20:41
get things worse. And for a couple thousand
20:43
years, the safety of gold and silver was offered to
20:47
us and was a good thing to have during those
20:49
crisis. And it is here again. And
20:51
that's what I believe is the underlining push to
20:54
this all, why gold and silver has done what
20:56
they've done and will continue to do well.
20:59
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21:01
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21:35
metals. Yeah. You know, Peter, you talked
21:38
about, it may have been item number one, kind of
21:42
the math behind why this doesn't work, right? The
21:44
national debt, the deficit, the growing deficit. And
21:47
the deficits really, you know, has been the driver.
21:51
That's where the debt came from
21:52
and the deficit continues to grow. I
21:54
heard someone say something that I thought was very
21:57
interesting the other day about what's going on in
22:00
Washington with the Democrats and the
22:02
Republicans and why the deficit continues to grow.
22:05
And he said that the Democrats
22:07
are just mostly concerned about being able to spend
22:11
more and more money, right, on different programs. They
22:14
just want to spend, spend, spend. And
22:17
the Republicans are primarily concerned with
22:19
keeping taxes low. So as long as they continue
22:24
to balance that, like the, you know, as long as the
22:27
Republicans get the low taxes, they'll let the
22:31
Democrats overspend. And as long as the Democrats
22:33
get to overspend, they'll let the Republicans keep
22:36
the taxes low. And obviously, that's a recipe
22:39
for what we've seen already and will likely continue to
22:43
see because nobody's talking about this. I
22:45
don't hear any of the presidential, I hear talk
22:47
from Joe Biden about writing off everybody's
22:51
student debt. Nobody wants to address the real
22:53
big elephant in the room. Well,
22:57
the federal government can get away with it a little
23:00
while longer. But even there, we're seeing
23:03
tax levels goes up and services go down. But
23:06
where the real issue is coming, and it's not being
23:08
discussed in the financial media, is on the state and
23:11
local levels. Look, maybe cities like Houston
23:14
are basically bankrupt. They don't have a printing
23:17
house. They have to balance the budgets
23:19
California, 10 billions of dollars of a budget crisis.
23:23
There's only two things governments
23:25
can do, Ronnie. They can cut spending or they
23:30
can raise taxes. It's much easier to raise the
23:34
taxes, reduce some of the government services. And
23:39
that's what we're seeing now. And
23:40
here's the other part and why I think the immigration
23:43
problem is going to grow acute even more than people
23:46
are given it time to. There
23:49
is a certain element in the United States that
23:51
barely gets by. It's been that way for decades,
23:54
if not a century or more. But
23:56
what little they got from the government is being
23:59
taken away from them and given to the immigration
24:02
scenario. Those people are not going to
24:05
take it lying down, Ronnie. They're
24:06
just not. No one should. I
24:08
can't expect them to. And I believe that budding
24:11
heads is coming to a head here that we're actually
24:13
going to see people against people. And
24:16
pointing just as they did in Germany in 30s and
24:18
point to a certain group and said, you know why
24:20
your problem is bad? See those people over there.
24:23
They're the reason for it. Such
24:24
is going to be the case now with fingers point to
24:26
immigrants by other people that have been here for a
24:29
while and been used to getting what little they
24:31
could and it's being taken away. So
24:33
this problem is only going to get worse. And
24:36
I think it's that type of atmosphere that will give
24:39
the underlying support. Unfortunately,
24:42
two things like metals and people outside the United
24:46
States are not exactly immune from this either.
24:49
These crisis with immigration is
24:51
happening in Europe. It's happening in part of
24:53
Asia's. It's happening in Canada. If
24:56
you want to know somebody that's even more of a mess
24:58
than we are right now, it's our good friends to
25:00
the north. So I don't see this problem
25:02
getting better. It can only get worse. And
25:04
that in turn is one of the reasons fundamentally
25:08
why I suspect that gold and silver while corrections
25:11
and consolidations will come are only going to work
25:13
higher. And that bear is going to lose
25:16
his blind. And like you said, it has
25:19
worked for thousands and thousands of years. You
25:22
know, prove us, prove us wrong at this point, right?
25:26
Or prove the thesis or prove
25:27
silver and gold's ability to insulate and to provide
25:33
a safe harbor during these difficult times. Prove
25:36
it wrong. I would rather go with the
25:40
thousand years of history. Peter,
25:42
thank you for joining us today. On
25:44
behalf of the viewer, right, we've had this third
25:46
person with us that's benefited from hearing your
25:50
perspective on what's going on. If
25:52
people want to learn more about you, they can go to
25:55
Peter grandage .com. Is that correct? Yes,
25:58
the website is Peter grandage .com. There's
26:01
also a YouTube channel, but everything and anything I
26:04
do, whether it's done on the YouTube or the blog is
26:07
on my Twitter, I can't call it X. It's
26:09
always going to be called Twitter. But
26:10
there is the best place to follow whatever I'm thinking
26:14
or saying or doing. Okay, so they can follow you on
26:17
Twitter. You have a YouTube channel and
26:19
Peter grandage .com. What about, are you affiliated
26:23
with a financial planning firm? Anything
26:26
you want to say in that regard? Sure.
26:28
So separately, there is a planning group I've been
26:31
associated with for over 25 years. It's
26:34
only for U .S. residents. We believe that cash flows
26:39
the answer to financial success, not trying to
26:41
increase net worth. The more efficient you are with
26:45
your cash flow, the better off you're going to be
26:46
financially. And yes, that information could
26:49
be found on my blog at Peter grandage .com. Okay,
26:54
and I want to throw in, I guess I registered on your
26:57
blog or at some point had said that I wanted to get,
27:01
I get a daily email from you, which seems like every
27:05
day of the week. And it's always something very
27:08
interesting pertaining to what's going on in the
27:12
precious metals sector. So Peter, as usual, it's been
27:16
great to talk to you. And we'll look forward to
27:19
seeing you next time. And you tell that buddy over
27:22
there, it's only a matter of time.
27:24
$2 ,500 gold and watch out because Peter's coming for
27:28
you. I'll let him know. Thank
27:31
you, Ronnie. God bless.