Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 SILVER 🚨 -- You Best PAY ATTENTION to This! 🦍🦍 Oh My!!!

Transcript

🚨 SILVER 🚨 -- You Best PAY ATTENTION to This! 🦍🦍 Oh My!!! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:03
  We have an urgent update on the silver price and a lot to cover
• 0:07
  today because right now the silver price is up $0.85 per oz.
• 0:12
  I'm getting overwhelmed with questions from you.
• 0:15
  Why is this happening? We're going to talk about the
• 0:17
  six big reasons why it's happening right now and will it
• 0:22
  continue. That's just as important for us
• 0:25
  to talk about, but let's dive into the charts guys.
• 0:28
  To start. One of the big reasons we're
• 0:30
  seeing this breakout right now is this wedge that's developed
• 0:34
  in the silver market over the last number of months and years.
• 0:38
  As you look at this chart, you can see a descending wedge as
• 0:42
  the silver price has been compressed and compressed.
• 0:46
  And right now, we are attempting to break out of that wedge and
• 0:51
  that's the way wedges work. Either we're going to break out
• 0:54
  to the downside or we're going to break out to the upside.
• 0:57
  We know the fundamental factors supporting Silver and it looks
• 1:02
  like right now we're breaking out to the upside.
• 1:05
  Now let's go over to second reason why silver is breaking
• 1:12
  out and why it could break out even higher the cup and handle
• 1:14
  pattern that's been forming since 1980.
• 1:18
  This chart from Kimball Charting Solutions I think shows that as
• 1:22
  clearly as any. See the big massive cup from the
• 1:26
  $50 nineteen 80 silver high through the 2011 $50 silver
• 1:31
  high. That's the cup the handle has
• 1:33
  been forming. This chart only goes through
• 1:35
  2018. So we have another six years and
• 1:39
  the silver price is heading up. If we break out successfully
• 1:44
  from the wedge that I showed you previously and this cup and
• 1:48
  handle continues to play out, we could easily see $100 silver.
• 1:55
  Yes, Keith Newmeyer, Chairman of First Majestic Silver, who's
• 1:59
  been talking about triple digit silver for years and years, his
• 2:03
  prediction could very, very welcome.
• 2:06
  True. Let's talk about the massive
• 2:08
  deficit that we have in the silver market right now.
• 2:13
  Hold on here. Here we go.
• 2:16
  There's an article from Reuters, another big guys.
• 2:18
  We can't forget this, right? And this is from one year ago.
• 2:22
  Can you see it right there? April 19th, 2023.
• 2:26
  Record demand pushes silver into new era of deficits.
• 2:31
  From the Silver Institute we know the most up to date data
• 2:35
  that we have is indicating to us that this massive deficit, more
• 2:40
  silver being demanded by the market, by industry, by
• 2:44
  investors then the mining and recycling sectors can provide.
• 2:49
  I've heard numbers up to 600,000,400 million oz have been
• 2:54
  drained out of above ground supplies, secondary supplies
• 2:59
  over the last three to four years.
• 3:01
  That's reason #3. We're going to move on to reason
• 3:03
  #4. But first I want to say thank
• 3:07
  you to our channel sponsors who make Ron's basement possible.
• 3:11
  We've got Pembex, Pi MB EX, the online dealer.
• 3:16
  If you check them out, if you throw them into the mix, next
• 3:19
  time you're looking for silver, Gold or Platinum, you're going
• 3:21
  to find what I found. They do check all the boxes.
• 3:24
  Best prices, Best service, best selection pinbex.com Pi MB, EX,
• 3:30
  Pinbex. We're going to say thank you to
• 3:32
  1st Mining Gold Canadian Gold Development Company, founded by
• 3:36
  Keith Newmeyer as a matter of fact, with two 5 million oz
• 3:40
  development stage projects in Canada.
• 3:42
  You can learn more about them at firstmininggold.com and of
• 3:46
  course Fortuna Silver. They're more of a gold miner
• 3:51
  now, but they still produce a good amount of silver.
• 3:54
  They've got a really nice balance between their silver
• 3:57
  output and gold output, and their production continues to
• 4:01
  increase. You can learn more about them at
• 4:03
  fortunasilver.com. Now let's move on to less reason
• 4:07
  #4. Everybody, everybody, and I want
• 4:11
  to point this out. Hold on here.
• 4:14
  Everybody is saying silver is the most undervalued asset in
• 4:19
  the history of the world. A lot of people are even saying
• 4:23
  I just pulled up. I googled silver.
• 4:25
  Undervalued asset. Look at these headlines.
• 4:27
  Silver can outshine gold as an investment.
• 4:29
  Is silver. A sleeping giant Seeking Alpha
• 4:33
  silver's undervaluation? A precious metal in high demand
• 4:37
  that's growing scarcer. OK, silver is underpriced and
• 4:41
  supply and demand dynamics, guys, we know it, right?
• 4:45
  I don't. I'm preaching to the choir when
• 4:47
  I say this. But the reality is silver is the
• 4:50
  most undervalued asset some people are saying in the history
• 4:54
  of the world. Speaking of the history of the
• 4:58
  world, let's not forget that while there's this massive
• 5:01
  industrial demand for silver, would you argue that silver is
• 5:06
  still, right now a monetary medal?
• 5:09
  I would. Why would the UK sovereign
• 5:12
  meant, Why would the United States meant?
• 5:15
  Why would the Australian meant? Why would the South African
• 5:17
  meant, Why would the Austria meant?
• 5:19
  Why would they all be minting all of these sovereign coins
• 5:23
  that have money? You know, Unicorn fart, dust
• 5:27
  money numbers associated with them, right?
• 5:31
  A lot of these Canadian coins I own say worth 5 Canadian silver
• 5:35
  is still a monetary metal. Look back over history.
• 5:38
  It was only taken out of the United States monetary system in
• 5:42
  19641965 when they stopped making, you know constitutional
• 5:47
  90% silver. Silver is still.
• 5:50
  It's still, last I checked, still at the bottom of extras
• 5:55
  Pyramid. All the fake.
• 5:58
  All the synthetic money, currency, whatever you want to
• 6:02
  call it, right? Paper money, bank debt,
• 6:05
  derivatives, corporate debt, all that rest on a solid base of
• 6:10
  real money. The only two forms of real
• 6:12
  morning money, According to John Extra, who worked for the United
• 6:16
  States Federal Reserve and only died a few years ago, all of
• 6:20
  that rests on a solid base of silver and gold.
• 6:25
  Finally, guys, the reason why silver's going up?
• 6:28
  This is something that you and I can laugh about.
• 6:31
  We don't want to poke fun at our our fellow silver investors, but
• 6:36
  people, most people. Again, not you, not me, but most
• 6:40
  people only buy silver when it starts to go up, right?
• 6:45
  They they don't want to buy it when it's on sale.
• 6:47
  Like 3 or 4 weeks ago when it was 2221 an ounce and premiums
• 6:52
  were like lowest they've been since.
• 6:53
  I can really remember in recent history nobody wanted to buy it
• 6:58
  back then. People.
• 6:59
  It's called FOMO, Fear of missing out.
• 7:03
  And I read this the other day, Silver and gold.
• 7:06
  You may not have heard this, but silver and gold actually
• 7:10
  invented that that name FOMO fear of missing out.
• 7:14
  So as silver, right, starts to break out of that wedge, as
• 7:18
  silver starts to work to complete that cup and handle
• 7:21
  pattern, as silver continues to get massive demand support from
• 7:27
  this deficit that we know is present right now in the silver
• 7:32
  and gold market, more and more FOMO will come into play.
• 7:37
  Rick Rule says right when people go to the grocery store and tuna
• 7:40
  fish is on sale, they'll buy an extra can of tuna fish.
• 7:44
  They're the opposite with silver in particular when they go to
• 7:48
  the grocery store and see silver's up, you know, five more
• 7:51
  dollars an ounce and premiums are triple what they were three
• 7:55
  months ago. They'll be saying bye, bye, bye,
• 7:57
  bye. Right.
• 7:59
  Hopefully you've already got enough silver that you're
• 8:02
  comfortable sitting tight and knowing that you're right, guys.
• 8:06
  Those are the six reasons why I think the silver price is up
• 8:10
  today. If you have another idea, leave
• 8:12
  it in the comments below. As always, thank you for
• 8:15
  watching. Thank you for being a part you.
• 8:18
  Yeah, it's YouTube, not round tube.
• 8:19
  YouTube. Basement dweller.
• 8:21
  Thank you for being part of the basement.
• 8:23
  Please subscribe to the channel, give the video a thumbs up, and
• 8:26
  don't forget super chats. Super thanks are always super
• 8:30
  appreciated. Thank you and I'll see you next
• 8:33
  time.