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🚨UPDATE🚨 WHAT Happens When SILVER goes EXTINCT · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Are we running into a situation where silver could soon be
0:04
extinct? What would that mean for the
0:06
silver price? We together are going to cover
0:10
that in this video. But first, there is so much
0:14
going on. Let's cover the latest news
0:16
stories that will impact the silver price and the gold price.
0:20
Hey, yesterday we talked about being prepared, the Fed.
0:24
This week, 6 speakers are going to be out talking, talking
0:29
squawking like the Fed does about how tight they're going to
0:33
have to be with monetary policy, raising interest rates further,
0:39
right? Contracting the money supply.
0:41
All of that right verbal jujitsu that they will be engaged in
0:46
will create a difficult environment for the silver price
0:50
and the gold price. We know what happens in the end,
0:54
however, the Fed is neutered in terms of their real ability.
0:59
So that's one of the big first and foremost stories that we
1:02
need to cover of this week and and don't worry, we're going to
1:06
get to Silver and. Its prospect of becoming
1:10
extinct. Well, we just got a couple more
1:12
big stories we had. Jamie Dimon, did you hear what
1:16
does it mean when Jamie Dimon, the CEO of JP Morgan Chase, puts
1:22
out a stern warning? Let me read this to you.
1:26
Basically, he told the markets that a further move up in
1:30
interest rates from 5% to 7% would be much more difficult on
1:36
the economy. Then the move that we had from
1:39
3% to 5%, but but and we're got more to talk about, we're going
1:44
to talk about what Moody's did. We're going to talk about the
1:47
dollar, we're going to talk about the 10 year yield and
1:49
we're going to talk about a crashing bond ETF.
1:53
But what else did Jamie Dimon tell us That should really get
1:58
us silver and gold investors excited.
2:02
He told us the prospect of stagflation is appearing to
2:06
become very, very real guys. The good news, you know, you
2:11
didn't create it. I didn't create it.
2:13
We have to say that every day. The screwy financial monetary
2:17
system that we're in right now, however, it is what it is and
2:22
stagflation is. Rocket fuel for the price of
2:26
gold and silver. Jamie Dimon himself is talking
2:31
about stagflation right now. What does that tell us?
2:35
What does that mean? That means we could be heading
2:37
into some very favorable waters for the price of gold and
2:40
silver. Don't forget, we're going to
2:41
talk about silver becoming extinct.
2:43
We're not going to forget about that.
2:45
But we got big news yesterday, hold on here out of Moody's.
2:50
We know that the S&P and Fitch had both downgraded the United
2:55
States. We know.
2:57
Our government is spending like drunken sailors.
3:00
You know, they're like they're like they're they're like coin
3:02
shop Chris blowing all of his money on Ding Dongs.
3:06
You know Joe Biden, he just spends like anything, $1.4
3:10
trillion deficit. But what?
3:13
What did we hear from Moody's? Let me just read the headline to
3:18
you. And what is this telling us
3:20
about what's to come in the US economy?
3:22
Moody's warns U.S. government shutdown bad for countries
3:27
credit It says a U.S. government shutdown would harm the
3:30
country's credit rating agency, Moody said on Monday, a stern
3:36
warning coming only one month after Fitch downgraded the US by
3:41
1 notch on the back of the debt ceiling crisis.
3:45
So remember guys, we already had S&P downgrade.
3:48
That was a few years ago right? But recently we had Fitch
3:51
downgrade. Now Moody's is talking about
3:54
down grading our government debt from the highest rating down a
3:59
notch. What would that do?
4:01
Further in terms of damage to the bond price, what would that
4:04
do to the silver and gold price. We need to think about all of
4:09
this and keep this in mind. Last I checked, what about the
4:13
dollar? I mean, right, What is what we
4:16
we hear this, this, this, this, this argument over and over.
4:21
Oh, a strong U.S. dollar. The dollar so strong.
4:25
I mean, it doesn't make any sense now, does it?
4:29
The dollar so strong and that's what does that do to gold and
4:34
silver and platinum prices? It pushes them down.
4:37
It's a major, major headwind. OK, I'll tell you one more time.
4:42
We are going to talk about silver going extinct and what
4:45
that could mean for the price. But the dollar, what we're
4:48
talking about right now, the strong dollar, the US dollar, so
4:52
strong, the US dollars, the king of the world.
4:56
And it is. But we got to remember that's on
4:59
a relative basis. That means comparing the, the,
5:04
the value of the dollar versus a bunch of other cruddy
5:08
currencies, the Euro and the yen, right.
5:11
That's like comparing the three best players on your kids Little
5:16
League Baseball team to the Mvp's from Major League Baseball
5:22
and the Mvp's and Major League Baseball.
5:24
Who do you think they are? That's right.
5:27
They're Mr. Gold, Mr. Silver and Mr. Platinum.
5:30
The three best players on the Little League team and great for
5:33
them playing Little League Baseball.
5:35
But that's the dollar again in Euro.
5:37
The Mvp's on Major League Baseball, a whole different
5:42
league of their own. That's gold, silver and
5:45
platinum. So there's relative the strength
5:47
of the dollar argument that's. All in relative value.
5:51
What we care about is real value and all of those together,
5:56
right. It's like 3.
5:58
It's like, which one is sinking faster.
6:01
It's a race to the bottom is another way you hear a lot of
6:04
people describe it. Dollar and put the dollar hit
6:07
106, the dollar index. And that's been a headwind,
6:11
right, Probably again today yet another headwind for the price
6:15
of silver, gold and platinum. What's going on with bond
6:19
yields? Are you getting a little
6:22
perplexed? I am definitely perplexed about
6:26
the fact that we've got a 10 year bond yield earlier in the
6:29
week touching 4.55%. I haven't had a chance to look
6:34
at it yet this morning and seeing what it's done during the
6:36
first two hours. But guys, this puts the banks on
6:41
life support, this puts the government on life support, this
6:45
puts the consumer on life support.
6:49
This puts big corporations on alert and some on to life
6:55
support because there's so much debt in the world, so much
7:00
government debt, corporate debt, consumer debt, mortgage debt,
7:03
real estate debt, auto loan debt, you name it.
7:06
The debt balances are massive. So does it make sense, what
7:10
Jamie Dimon said? We touched on that at the
7:13
beginning here that that move from 3 to 5% was much more
7:17
easily absorbed than a move from 5 to 7% in.
7:22
Rates. You know it's it's not a good
7:25
situation. It's crushing the world economy
7:29
and is is could could you know look what happened back in March
7:32
and April with the banking crisis.
7:35
I mean how can we not, how can the banks not be in worse shape
7:39
right now? And look no further, this is
7:41
just mind blowing. There's an ETF called TLT and if
7:47
I have it correctly, it tracks the 20 year bond yield OK.
7:53
The TLT is down. It's like crashed.
7:55
It's down like 48% from its high.
7:58
That's a bond ETF, That's where you puts a long term bond ETF,
8:02
that's where you put your money. If you wanted it to be safe and
8:07
it's dropped 48% in value, that's indicative of exactly
8:12
what's going on on the balance sheets of all these banks.
8:15
That's indicative of what's going on.
8:18
In the balance sheets of a lot of of U.S. citizens and in
8:22
corporations as well, these higher rates are going to wreak
8:26
absolute havoc out there. OK, hey, my friend, let's move.
8:32
Is silver going extinct? And what would that mean for the
8:36
silver price, my friend John Forrest little over at the
8:40
pickax.com. He put out an excellent,
8:45
excellent piece of work, just kind of looking at the different
8:48
components of silver. And you know, what about the
8:51
history of silver? I learned a few things when I
8:55
when I looked at where does silver come from?
8:57
It's important that wouldn't you agree that we know where silver
9:02
actually come comes from? What about uses of silver by the
9:06
military? What about the nuclear industry?
9:09
What about space? We don't ever hear about that,
9:12
do we? We hear about solar panels, we
9:14
hear about electronics, and I guess that could all somewhat be
9:17
lopped together, but we don't hear specifics about how much
9:22
the military uses, how much the nuclear industry uses.
9:25
How about the history of silver as money?
9:28
That's important. And on top of that, we also
9:31
heard from another top analyst, Fence Latchy, who reinforced the
9:35
idea on an interview he did on Arcadia Economics, that the
9:40
wealthy people are accumulating metals.
9:42
Why is the price of silver so low?
9:45
So let's dig in to all of this right now.
9:47
Are we, are we running out of silver?
9:51
You hear that, right? You're here.
9:53
Some people say by 20282030 we could be out of silver.
9:58
Is it? For real number one, Mexico is
10:02
the world's #1 producer of silver, OK?
10:05
We've had silver deficits now for the last several years.
10:09
We need to remember that as well.
10:11
And the silver use by militaries is increasing significantly.
10:17
Unless we invest in silver mining companies, right?
10:21
If silver mining companies invest, unless they invest in
10:24
more discovery work drilling, how many companies do you hear
10:28
about, think about this, They're actually drilling for silver.
10:31
I mean, I think of like Summa Silver.
10:33
I think there's a company called Black Rock Silver, not that
10:36
Black Rock, but a different Black Rock Silver that's
10:39
drilling for silver in a handful in Mexico.
10:42
But guys, nobody's drilling for silver.
10:45
Because it's not cost effective. Nobody wants to finance a
10:49
company to go and drill for silver right now.
10:52
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Thank you. Okay.
11:38
Mexico is the world's biggest producer of silver.
11:43
But there's been a massive under investment in the silver
11:48
industry. And what's very interesting,
11:50
take a look, this came from Tavi Costa, OK, take a look at that.
11:55
Silver production in Mexico is going down, down, down.
12:02
As a matter of fact, OK, we're hearing Not in 20, actually
12:08
dropped more recently. Than it did during the C19
12:14
crisis. So very interesting development.
12:17
Now what we when we think about who produces the world silver
12:22
are. This is is it is it important
12:24
that they be friendly countries toward the United States.
12:28
Well let's think about Mexico. They've been very unfriendly to
12:33
silver miners. Extremely unfriendly.
12:35
Ask any silver miners, extremely unfriendly.
12:39
Ask anyone. At Fortuna Silver, I'm going to
12:41
be talking with Jorge Genoza, the CEO of Fortuna, on Thursday
12:47
of this week. When every time I talk to him or
12:50
I talk to anybody who's an executive level that's doing
12:54
silver related work in Mexico, they throw their hands in the
12:58
air. It's befuddling what's going on
13:00
in Mexico, either from a government regulation
13:02
perspective or or from a social perspective.
13:07
Companies are being faced with massive strikes.
13:11
I think it's Newmont right now. Like the biggest silver.
13:14
One of the biggest mines in Mexico is shut down because of
13:18
Labor disputes. Equinox Gold has had major labor
13:22
excuse. America's gold and silver is
13:24
that. Major labor disputes, all in the
13:27
last and it's guys. Mexico produces more silver than
13:31
anybody in the world. Are we allies with Mexico?
13:33
I think that can be debated. I don't know, but they're a
13:36
major, major silver producer. What about Peru would you say
13:42
we're friendly with? It seems like most of the South
13:44
American countries are starting to align themselves more with
13:48
the BRICS nations. What about China?
13:53
They're also a major, I think it's safe to say #1 two things
13:57
about China and silver. Whatever silver they are
14:00
producing in China is staying in China.
14:03
And on top of that, China is likely importing massive amounts
14:08
of metal as well. We know what's going on on the
14:11
Shanghai Gold Exchange in the Shanghai Futures Exchange.
14:15
Those are the competitors to the Comex and the LBMA in the West.
14:20
We've got silver prices that have gotten as high as 12%
14:24
higher in China as opposed to the United.
14:28
So when we. Look at where the silver is
14:31
coming from. OK?
14:32
Who? Who's providing the world
14:34
silver? Are they our friends, you know?
14:36
And this Vince Latchy on this Arcadia Economics interview
14:40
pointed out a great point. He said, you know, 10 years ago
14:42
the world was sharing everything.
14:45
Remember, remember the good old days?
14:47
He used the analogy of like a kids toy box.
14:50
Everybody put their toys in the box and then whoever wanted to
14:53
play with whatever, whoever needed it would get in and grab
14:56
it. Now everybody's taking their
14:58
toys back out of the toy box. And that's happening on a
15:02
worldwide basis. And that will impact the price
15:05
of silver, will impact the price of gold.
15:08
Thank you. First mining gold also for
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pipeline and allow them to produce the same amount of gold
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that even they're just producing right now.
15:51
Back to silver. FFMGF is the stock symbol of
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16:01
The company I believe in in a gracious sponsor of Ron's
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basement. Mexico has been the world's
16:08
largest producer of silver for centuries.
16:11
In the early 16th century, the Spanish conquistadors discovered
16:16
silver. Peru is another country with the
16:19
with with with centuries of silver production in their in
16:23
their background, the Incas mind for centuries again before the
16:27
arrival of the Spanish, and while China's A relatively new
16:32
entrant. Of.
16:34
And in the silver mining sector, they are having a harder time
16:40
within China finding more silver as well.
16:43
What about the Silver Institute? Do we believe what they say
16:48
regarding the amount of silver that's demanded?
16:52
And what about the amount of silver that's supplied every
16:56
year on a annual basis? We know we've heard this, but
17:00
let's repeat at the Silver Institute reported.
17:03
Last year, a deficit of 237.7 million oz, the 2nd consecutive
17:10
annual deficit. It was the most significant
17:12
deficit on record since the Silver Institute began tracking
17:17
silver supply and demand all the way back in 1991.
17:21
So we had the biggest deficit on record, reported from the Silver
17:27
Institute. Basically of all time since they
17:31
started to keeping records over 3030 years ago.
17:37
In 2021, the deficit was 50 million oz.
17:42
And it's interesting to note that the last two years deficits
17:46
basically wiped out any surplus from, like the, I don't know,
17:51
eight or nine previous years, OK.
17:55
What about what about the world's defense industry?
17:58
This is what nobody talks about, and we don't know these numbers
18:02
for sure, OK? But we do know that the defense
18:07
industry uses significant big, big amounts of silver, OK?
18:14
They have silver coatings on bombs.
18:16
We've, we've heard estimates that some of the larger missiles
18:20
that are developed will have as much as 500 ounces of silver in
18:23
them. Silver reduces radar signatures.
18:26
OK, that's an important yet another component attribute of
18:32
silver. It protects the missiles from
18:35
corrosion, extending their lifespan.
18:38
It reflects heat, making missiles less vulnerable.
18:43
To infrared homing missiles. What about nuclear submarines?
18:48
It could be one of the largest industrial users of Silver, but
18:51
it's never reported on. Look, this stuff is all kept out
18:56
of the public domain, and understandably so, right?
18:59
That's the Defense Department. But when you talk about
19:03
submarines, you aren't talking oz.
19:05
But weight units are thousands of tons, and you've got rockets,
19:10
submarines, satellites, telescopes.
19:12
Nuclear bombs, reactors, and even bombs buried into mountains
19:16
everywhere. We've got a lot of bombs, and
19:19
the bombs all have likely a lot of silver included in them.
19:26
The same is true with aerospace, the most severe weather in
19:30
space. So.
19:31
So the defense contractors use silver because it's a much more
19:35
affordable conductor than gold. Gold is, of course, 75 to 80
19:40
times more expensive. A lot of anything that goes into
19:43
space is, as we know, pretty much lost in space.
19:47
What about nuclear? Energy.
19:49
What about the nuclear energy industry that generates
19:53
electricity? We never hear about that, but
19:55
this is interesting. The Silver 80% and Idiom 15% and
20:03
cadmium absorber bars are a component of the control rods in
20:07
the most commonly used designs for nuclear reactors.
20:11
They're consumable, end up irradiated, and must be replaced
20:16
on average every 8.5 years. Estimates of silver usage in
20:22
this capacity are monumental. OK, you've got silver zinc
20:26
batteries being used by the things like the Apollo mission.
20:30
It's very, very, very interesting.
20:34
So are we running out of silver? Well, let's talk briefly about
20:39
the fact of that silver has been used as money as well.
20:44
You and I like to use it as money as a store of.
20:47
Value A brief, brief history lesson.
20:51
First known silver coins were minted around 600 BC in a place
20:56
called Lydia, which I've never heard of but that was an ancient
20:59
Kingdom in western Asia Minor which is modern day Turkey.
21:04
These coins were made of gold and silver called the electrum.
21:08
Later in the 5th century BC, the Greeks began producing silver
21:12
coins. So guys let let's talk about 5th
21:15
century BC if I've got that correct.
21:19
We're we're talking about what 2700 years ago is silver money?
21:27
Does silver maintain its value over thousands of years?
21:33
Yes, it does. I mean we don't even have to go
21:36
there when it comes to talking about paper.
21:38
We know the paper doesn't maintain its money.
21:42
The Chinese use silver coins during the Tang Dynasty, which
21:46
was about the year 600 to 900 AD, and the and the Spanish
21:51
introduced the very popular silver peso in the 16th century,
21:57
which became widely used currency throughout the
21:59
Americas. Have there been times when
22:03
silver has not been used as money?
22:04
Yes, yes, yes, yes. During early part of the Middle
22:09
Ages, gold was preferred as opposed to silver.
22:13
And what's another time that we can think of that silver's not
22:18
been used? There's not been a lot of times
22:20
in history when silver has not been used as money.
22:25
But is there another time when it's not been used as money?
22:28
That might be very, very pertinent to what you and I are
22:32
talking about right now. How about the fact that since
22:37
19651970 in the United States, in the Western countries, silver
22:45
has again not? Not been used as money?
22:49
How's that working out for us? How well has the dollar done as
22:54
a store of value since silver was taken out of our money in
22:59
the United States and most of the rest western world?
23:03
And again that all started around the 60s, the 70s, early
23:08
70s on a worldwide basis. How has that been working out?
23:12
For the world. Well, let's think about.
23:14
Let's think about this. We know that the world is now
23:17
awash in over $300 trillion of debt.
23:23
It's a untenable situation. What about the value of the
23:29
paper currents? Has the euro maintained its
23:31
value? How about the yen in Japan?
23:34
How's it worked out for Japan? Think about this just for one
23:38
second. Right now in Japan today,
23:41
there's a modern day gold craze. Japanese people have woken up to
23:48
the fact that their paper yen is becoming worth less, That all
23:54
the printing of money that the Japanese government has done is
23:58
coming home to roost. That you can't just magically
24:02
print money out of nothing and expect.
24:05
It to to hold value that it you're diluting every time you
24:11
print more money. Here in the United States, we
24:14
have a target, a target, a target that our dollar loses 2%
24:20
of its value per year. Does that make any sense
24:24
whatsoever? Why would a country want their
24:28
currency to go down in value? So during these periods where
24:33
we've not used silver as money, how has that worked out?
24:38
I would argue that it has not worked out very well at all.
24:42
Will we run out of silver? Again, this is from our friend
24:46
John Forrest Little. He says it's difficult to
24:48
predict exactly when we will run out of silver, as it depends on
24:53
several factors, such as the rate of global production
25:00
demand, and the development of new technologies for exploration
25:05
and mining. However, it's worth noting that
25:10
silver is a finite resource. Silver is not infinite, guys.
25:16
There's only so much on the planet right now, and it's
25:20
becoming harder and harder, and most recently less economic to
25:26
harvest the silver that is left in the Earth's Earth's crust to
25:30
get it above ground. According to some estimates, the
25:34
total amount of silver mined throughout history is around 1.6
25:39
million metric tons. While this may seem like a lot,
25:43
it's essential to consider that much of the silver has been
25:46
consumed in various industrial applications and is no longer
25:52
recoverable, right? It's in bombs, it's in
25:55
landfills, who knows, but it's not recoverable in terms of
25:59
current production levels. Global silver mine production in
26:02
2020 was approximately 25,000 metric tons.
26:08
However, the demand for silver is also growing, particularly in
26:13
the electronics and solar industries.
26:16
Sadly, the New World is rapidly encroaching on an already
26:21
extremely constrained economic environment.
26:25
At current rates, it's estimated that by.
26:30
I want you to guess in the comments, by what year does this
26:33
author estimate or his sources estimate that we will be out of
26:38
silver. It's estimated that that by
26:41
blank year the Earth will have completely run out of
26:45
economically mineable silver reserves.
26:49
Let's see who can get it. Hello Jake.
26:52
Hello Annie Oakley. Hello Big J Coin Shop, Chris.
26:56
Good to see you as well. Uh oh, there we go.
27:00
Oh my. My chat is catching up like
27:02
crazy. What year does this estimate
27:05
think we could run out of? Silver.
27:08
You got it, Bradley. Bradley says it 2028 is what
27:12
they're saying here. What do you think?
27:16
Is that crazy? Do you think yes or no that we
27:22
could run out of silver by 2028? I think it's definitely
27:27
possible. But I think that that's a little
27:30
aggressive to think that in five years we could be out of eat.
27:34
Now if the price remains where it is or I mean, God forbid.
27:40
I know we've been through a rough little go here guys.
27:42
Don't forget those Fed guys. They're all talking this week.
27:46
I warned you, I meant to warn you earlier yesterday morning.
27:49
Be prepared. They're going to be not.
27:52
They're going to be kicking you in the coconuts all week if you
27:56
own Silver in gold because they are out in full force talking
28:02
talk, talk, talk, talk, talk, talk, talk, talk.
28:05
That's all they're doing is talking Okay.
28:09
We got a bunch of Nos. We got a bunch of Nos.
28:13
Truth hurts. I know we will run out of
28:15
silver, says Kevin. I'm going to have a sip of
28:17
coffee, Tom McDonough says 2035. You know, there's a lot of
28:25
variables involved, right? Demand.
28:28
This is the demand. This is the demand.
28:30
These predictions for solar, for electronics, for electric
28:36
vehicles, for the defense industry, for all these
28:40
different, that different demand sources.
28:42
Does that truly come to fruition?
28:45
If it does right, that will put pressure on the silver supplies.
28:50
But another big component that the author brought up is how
28:55
much can be mined, and some of that is going to depend on
28:58
price. Look, if we get a $65 silver
29:02
price 70. Dollar $80.50 dollar silver
29:06
price that will incentivize more people, more investors to to to
29:12
to direct more capital into the silver mining sector that could
29:18
result in higher production. But, but, but, but have you
29:22
considered right? There's something key about that
29:25
that we need to remember. There's one thing with these
29:28
people that say oh. When we get higher silver
29:30
prices, we'll just produce more silver.
29:35
It takes decades to go from exploring for silver to actually
29:41
producing that silver if even the exploration efforts are
29:46
successful. It doesn't happen overnight.
29:48
It takes a long time for things to go for for silver exploration
29:54
to turn into full-fledged silver production.
29:59
If you can't just turn, it's not a it's not a switch that you
30:02
turn on. So we could have think about
30:05
this is this is I I want you to, I want you to to to to to
30:11
recognize this very plausible scenario as we move into let's
30:17
say the next 15 years. If we get to a point where these
30:20
demand numbers for silver come into fruition, right.
30:25
The solar industry, the electronics industry is sucking
30:28
in all this silver and we get a $50 silver price.
30:34
OK. Number one.
30:35
Hey. Thank wow, thank you for that
30:37
super chat, pronounced Thank you.
30:39
That's awesome, Stan. I appreciate that.
30:43
Always appreciated. Never expected.
30:46
But I want you to think about this.
30:48
We get $50 silver. OK?
30:51
Everybody's silver. Crazy.
30:52
Your grandma's talking about silver.
30:54
Your Uncle Fred's talking about silver.
30:57
You go to the neighborhood swimming pool and suddenly I'm
31:00
popular again and people want to talk to me about silver and
31:03
maybe gold as well. Silver's on fire.
31:07
Imagine that. Wouldn't it be awesome?
31:09
Right? Hey, thank you for the thumbs
31:10
up. I haven't even begged you guys.
31:12
And we almost have 200 thumbs up.
31:13
Silver's on fire. We're happy.
31:15
Where's the silver bear? Where's Schmitty?
31:17
Can you see him? Yeah.
31:19
Here, let me get him. Hold on one second.
31:26
Old Smitty's happy, right? We got $85 silver.
31:31
We got $55 silver. The world is silver.
31:34
Crazy. You're the silver God.
31:36
Everybody's telling you, man. You knew it before everybody
31:40
else, that silver was going to go to the moon.
31:43
You're rich. You're popular.
31:46
Even more rich. And if it's possible, even more
31:49
popular than you are now. But let's talk about the real
31:53
numbers behind all that. What's interesting to remember
31:57
is suddenly when everybody's silver crazy and silver mining
32:00
stocks have gone up 2020 * 5 * 100 * 3 times whatever, they go
32:07
up. Don't make any financial
32:08
decisions based on what I'm saying.
32:10
But when all that happens and suddenly everybody wants more
32:16
silver. It's going to take 15 years, 10
32:21
years. For the world to adjust, so you
32:25
we're we're potentially talking about having a long period of
32:30
time where silver could do very, very, very, very well.
32:37
That's you know a potential, a realistic potential.
32:40
We don't have a crystal ball. I don't have a crystal ball you
32:43
don't have. None of us do.
32:45
But people will be scrambling. To find silver, but it still
32:49
takes all those years. If Mexico, if Mexico stays the
32:54
way they are, they're the biggest.
32:56
You know, they got all, they got more silver than anybody in the
32:59
world. They're making it in extremely
33:04
difficult for silver. Miners that already are there,
33:07
already have permits already have built mines to get the
33:12
silver out of the ground. Do you think suddenly they're
33:14
going to make it easy? For new silver miners to come in
33:18
and drill and develop and get permits, No, I mean, guys, we
33:22
could have a long period of time.
33:27
All the while the solar industry, the electronics
33:31
industry, the defense industry, the medical industry, the
33:35
investors. Because think about this, On top
33:37
of all that, on top of all that, we got a double, triple, zinger,
33:41
dinger, winger bonus. But right now I have to do
33:45
something for you to show my appreciation for 200 thumbs up.
33:50
Thank you last time. You know why that bell so
33:56
special to me? Because a basement dweller
33:59
delivered it to my house. He works at the water plant up
34:01
the street. He came over old Joe.
34:04
Good guy. He actually sat down here in the
34:06
basement. I wish I'd taken a picture.
34:08
I have to ring it away from the microphone.
34:10
For those of you with sensitive ears, I kind of like that better
34:19
when I hang it up by the thing. OK, but there's a double winger,
34:22
zinger, dinger, right? A kicker Basement dwellers that
34:27
we're not thinking about when it comes.
34:29
To silver in the silver price when we move into this period
34:33
where? Price discovery really matters
34:38
where the market recognizes and we have that 50 sixty $80.00
34:42
silver. OK.
34:43
We'll be talked about all the there's going to be no supply,
34:47
there's going to be increased demand from industry and
34:50
everything else. But, but, but, but, but, but.
34:53
The real turbocharge afterburner is going to be when your grandma
35:00
starts talking to you about silver when your neighbors
35:03
start. Because that also could be that
35:06
marginal demand from investors could just totally explode the
35:12
value of silver. You're going to want to make
35:15
sure that you already have it at that point.
35:18
Now again, I'm not giving it by financial advice.
35:22
I'm just telling you what I see. Maybe you agree with me.
35:25
Maybe you don't. Listen to yourself.
35:27
Okay. Trust yourself and listen to
35:30
other people. Look, I'm not trying to sell you
35:33
anything. Yes, I'm sponsored by PIM BEX.
35:35
You can get silver there, but I don't make a Commission off
35:37
that, OK? They help support the channel.
35:40
I believe in the company. If you decide to get silver, go
35:43
check them out. You can tell them you're from
35:45
Ron's basement, but it doesn't. It doesn't really matter.
35:48
It's nice, but that is not not required.
35:51
I just happen to believe. That silver, I mean, my gosh,
35:56
it's real. It.
35:57
Look, look, think about what Jamie Dimon said.
36:00
We talked about that earlier. Think about all this debt that
36:04
we have. They could never, ever, ever get
36:07
paid off, right? All this paper electronic, what
36:12
do we like to call it? What do we like to call it?
36:16
Unicorn fart dust? I mean, really, that's what it
36:19
is. What's the difference between a
36:21
dollar and a Bitcoin? What's the difference between a
36:24
dollar? And you know, my kids play with
36:28
this game called Roblox on their tablets of Roebucks, which are
36:32
little coins, gold coins. But nonetheless it's digital.
36:36
What's the difference? I ask you right and but we have
36:40
an option to buy real things. Land is another option, right?
36:46
Resources, commodities, real things are an option, but so are
36:51
silver and gold. And nothing competes with the
36:56
portability and the and the ease.
37:00
I mean, you know, you don't want to buy.
37:02
Look, I would not wreck this. This is financial advice.
37:05
If you live in a suburb like I do, OK, If I went upstairs and
37:10
told Susie, that's my wife, You guys all know Susie.
37:13
She's the very integral part of this channel.
37:15
So are you by the way an integral part of this channel?
37:19
Yes. You.
37:19
There is no Ron's basement without you here on YouTube.
37:23
Okay. So are all the moderators.
37:26
Coin shop. Chris Neil from Neil Hans
37:28
Dynasty. Jake's custom parts.
37:30
Annie Oakley. Mary Radcliffe.
37:33
I'm forgetting somebody and I apologize Annie okay but but but
37:38
and Susie my wife. But if I went upstairs.
37:42
If she if the door. I haven't checked the door to
37:44
see if the doors even open. But if I were able to go
37:47
upstairs? If she unlocks the door because
37:49
we now have 400 people on this live stream.
37:52
Thank you very much. We love talking about silver and
37:56
gold and platinum and platinum. If I went upstairs, you know
37:59
what? I'm going to ask Susie when
38:01
we're done here. I'm gonna go upstairs and say,
38:04
Susie, I'm thinking maybe we should invest in oil.
38:07
I'm gonna buy 1000 barrels of oil and store it in the yard.
38:14
Or in that, she might say put it in the basement, right.
38:17
Next time you guys see me, I'm up to my.
38:19
Chin and crude oil. No, you can't store oil
38:22
yourself, right? You can store.
38:25
You can't store wheat. Go buy a Go buy a couple of
38:28
train cars full of wheat or corn.
38:31
I mean, if you're a farmer and you have an elevator and all
38:33
that fancy stuff, yeah, And you know what you're doing.
38:36
But you can store silver and gold in.
38:39
And you know, I don't store it at home, but you can put it in
38:42
safe places, right? You can store.
38:45
I've got a couple of pieces here.
38:47
Here's Kruger Ant right here. That, my friend, is a store of
38:53
value. You're going to argue with me on
38:55
that? I'll take you on.
38:57
Anybody want to get on and debate me about that being a
39:00
store of value? Our good friend.
39:02
Our good friend, right. Bald guy, money.
39:06
He says this. It's like a battery.
39:09
Now, it's not storing electricity, but it's storing
39:13
value, Storing energy. You know, like I I could have
39:16
earned this two years ago. Let's say I cut my neighbor's
39:20
yard and they gave me this. OK, I can then take this now.
39:27
And let's say I hurt my knee and I can't cut my grass anymore and
39:30
I can and I can hire somebody to cut my grass two years later.
39:34
But I could have done the same thing with that over a 20 year
39:38
period or a 200 year period or like we talked about earlier in
39:44
this live stream over a 2000 year period, whoever those
39:48
people were that first started using silver is money.
39:52
What else? What else, right.
39:54
What else can you say that about this?
39:57
How much was this worth 2000 years ago?
40:01
How much do you think that's going to be worth 2000 years
40:06
from now? I don't care.
40:07
I can put it down. You know why we can put it down?
40:11
I think I'm allowed to put down the dollar.
40:12
Am I going to get in trouble for saying this?
40:14
Is a but it's paper, right? It's a note.
40:17
It's not backed on anything. I can say that, and I can say it
40:21
with a clean conscience. Because you know why?
40:24
The Founding Fathers of your country, if you're in the United
40:27
States, knew the the, the, the, the potential risk of paper
40:34
money, of Unicorn fart deaths money.
40:37
As a matter of fact, those Founding Fathers who risk life
40:40
and limb to write the United States Constitution put it in
40:45
the Constitution. That silver and gold are real
40:49
money, right? They are rolling over in their
40:52
graves right now. So if you're, you know,
40:53
sometimes we get this. I don't know if you, you ever
40:56
feel like you're a bit of a like a like if you like if you if you
40:59
say something bad about the US dollar, like almost like you're
41:02
being unpatriotic, right? No, no.
41:07
Our founding Fathers, right? Who?
41:09
What are their? Names Madison.
41:11
I think Madison was the father of the Constitution.
41:13
You know guys like George Washington, Jefferson, I bet
41:18
Abraham Lincoln, I know he's not a founding father.
41:20
You know all these guys, Andrew Jackson, they are rolling over
41:24
in their graves with what went on in our system that they that
41:28
they sacrificed so much for. Right.
41:31
For their children and great, great, great grandchildren that
41:35
that they've made a a charade out of the US dollar.
41:38
So we don't have to feel bad about the fact that we're
41:43
standing up. You know, we got people like
41:45
Senator Ron Paul, you know, people that that do stand up and
41:49
speak out about what's going on. I mean look at us now, we're
41:53
sitting in the situation where our government might shut down.
41:56
I mean, where did this come from?
41:59
On October 1st, the government might shut down.
42:02
I I don't know how you feel about that.
42:04
But I remember, I remember some other times in the past when I
42:10
was younger and like it was a big deal, the government shut
42:13
down. And I thought, well, that's
42:15
funny, nothing changed. I wonder if that's because
42:19
they're not doing a whole lot. So I don't notice any change in
42:22
what's going on in daytoday life.
42:26
You know we've got Moody's. Talking about down grading the
42:31
United States debt, the final, the final rating agency that has
42:35
the highest level rating on the United States.
42:38
Why? Because we've got political
42:41
turmoil in this country. And think about this guys.
42:45
Think about this as we head into this next 12 months from now,
42:52
whatever. Today is September 26th.
42:54
Right. September 26th of 2024.
42:57
I want you to transport yourself there.
43:00
It's pretty scary to think about what the political situation
43:04
might be like in this country will be what, a month and a half
43:07
away from a presidential election.
43:10
Joe Biden, our current president will be one year older and maybe
43:16
running for president again. It could be.
43:19
And this is not a political show.
43:21
I'm not Democrat. I'm.
43:22
I'm not. I'm not Republican.
43:24
I'm just. I, I, I am independent.
43:26
I guess you would say independent thinker.
43:29
I'm not going to, but just the idea of the contention that we
43:33
could have in this country one year from now is down right?
43:37
Scary. Can I ask you one more time for
43:39
a thumbs up there? I was quick.
43:41
I'm a quick beggar but but also think of a year from now.
43:46
You know, if they raise rates again, look about what Jamie
43:49
Dimon said, think about all the lag effect of all these previous
43:54
rate hikes coming through, the fact that our debt, I mean it's
43:58
just, it's absolutely atrocious. What they're doing with the
44:04
finances of this country? Like, they don't even care,
44:07
right? Like it's like, nobody cares.
44:10
Think about where we could be sitting one year from now.
44:13
Think about how you might want to protect yourself, because it
44:16
could get very, very difficult. OK, it could get very What's the
44:23
word? Susie.
44:24
I get this list of words from Susie.
44:26
Fascinating. I don't know.
44:28
That's probably not a negative. Enough word.
44:30
Thought provoking. You think it could be thought
44:33
provoking to think where we could be one year from now.
44:37
It's an interesting scenario. We're not even.
44:40
We didn't even scratch the. Surface of what's going on in
44:47
the world, right? I'm telling you, the Russian
44:52
Foreign Minister Lavrov was at the United Nations.
44:56
Not too long ago, like then, the last two weeks, and basically
45:00
told them, you guys want to fight, we'll fight you.
45:03
We'll fight you on the battlefield.
45:05
We aren't backing down. I mean, we're not even talking
45:08
about the fact that there's a war.
45:11
A war in Europe. Hello.
45:14
Are you awake? Hello.
45:16
I know, I know, I can get a little long winded, but just,
45:20
just just clear your memory cache for a second.
45:24
Clear your press reset. And I want you to remember right
45:28
now we have a war in Europe. What, are you kidding me?
45:34
Imagine if what is this year 2023?
45:38
Imagine in 2018, five years. Ago I told you what was going to
45:44
transpire over the next five years.
45:47
You know, the C19 situation that went on, the political situation
45:52
that went on, the fact that the bricks, which existed back then,
45:56
but nobody really took seriously, Maybe they should
45:59
have been, but the BRICS nations were taking more than half the
46:02
world's population and resources away.
46:05
And then I said, would you believe this is five years ago?
46:10
I'm telling you everything that happened during that five years.
46:12
Would you believe that on top of, whoa, thank you for that
46:17
super chat, man, super generous. Would you believe that we have a
46:22
war going on right now in Europe?
46:27
You would have been like, what? No way.
46:29
I mean and then people say, I wonder why gold is doing so
46:33
well. I want people are perplexed,
46:36
right. There was this big article that
46:39
was on Bloomberg about how all these fancy hedge fund people
46:43
are. They're like, we don't
46:45
understand why gold. Gold should be $300.00 lower.
46:50
It doesn't make sense to us because we spent millions and
46:52
millions of dollars on all these models to figure out, you know,
46:58
what the gold price should be. And gold because of real
47:01
interest rates, real interest rates, and you know what real
47:04
interest rates are, that's when you take the rate that you get
47:07
paid in the market. So you can get a one year bond
47:11
or CD or however you want to look at it at 5% and supposedly
47:15
inflation is 3%. So real rates are positive when
47:20
real rates are positive according to our model, I could
47:23
have made that we spent $15 million, gold should be $283.
47:27
They're all perplexed. Well, maybe maybe it's because
47:32
maybe it's because what we just talked about.
47:34
Do you think? Right.
47:36
Maybe it's because we have a a war going on in Europe, maybe
47:40
it's because we've got this national debt.
47:42
I could go on for hours. I'm so mad.
47:44
It's. It's okay to be to be mad.
47:47
And it's okay to not like paper money because your founding
47:50
fathers are with you. They're holding your hand.
47:54
You're a patriot. I hear Andy Scheckman, I think.
47:57
I think I hear Andy Scheckman say that like you're a patriot,
48:00
right? Or you're a what?
48:02
You know, anyway, think about, think about if, if, if, if, how
48:07
can we not expect? The gold price to be higher
48:12
things. If things ever been this crazy
48:15
in your life. My hands up and and and you know
48:20
a lot of people like to say they were crazy when they were
48:22
younger. I don't.
48:24
I'm not joking when I say I'm not joking about two things When
48:27
I talked number one I was pretty.
48:30
I'll tell you some stories some other time.
48:32
But I did a lot of traveling a lot of fun crazy things when I
48:36
was younger. I've never seen craziness in the
48:39
world. Like we're having right now.
48:42
The other thing I want to mention to you that I don't lie
48:44
about is when I when you invite me to play golf.
48:46
I don't like playing golf. It costs too much money, takes
48:49
too much time, and I am no good at it.
48:51
And I'm not one of those people who says I'm not good at golf,
48:54
but really is. I really am bad at golf
48:56
nonetheless. Not that you wanted to hear
49:01
that, all 400 of you. Nonetheless, things have never
49:05
been this crazy. One more question for you.
49:11
Do you think they feel like they could be getting crazier on top
49:15
of that? Wow, huh.
49:18
Yeah. And we're wondering why?
49:20
Why we have a CWLPFOC that is unbelievable that you gave me
49:27
that super generous super chat. Thank you, right?
49:31
That's pretty crazy crazy in a good way and I'm super grateful.
49:35
I don't know what else to say, but thank you.
49:37
Thank you. Thank you.
49:39
I will put it to good use, but the rest of the world is pretty
49:44
darn crazy right now. I mean, all the corruption, all
49:48
the. I mean, doesn't it just make
49:49
you? It really nauseates me, right?
49:53
Especially for the middle class in the United States.
49:58
Are you part of the middle class?
50:00
What's it like to be a middle class person in the United?
50:03
States you can hardly afford food, you can hardly afford your
50:08
house payment, you can hardly afford your car payment you got.
50:11
I mean, they've been squeezed. And you would really, Really.
50:15
Is is the truth. I mean this is just number, this
50:19
is the reality is that the top 1% has done exceedingly well
50:25
during the same period where where the the middle class has
50:31
gotten squeezed and what makes me.
50:34
Even double dinger, double dinger winger kicker, angry
50:38
about it is that those 1%, they're not working.
50:42
Most of them, they don't have to work.
50:43
They've got the tax code set up in a manner that that they don't
50:47
really have to pay much taxes. Right.
50:48
Warren Buffett has said that I pay lower taxes than my
50:52
secretary pays. OK.
50:55
And on top of that so you got the middle class who's working
50:58
their tail off, right? The it's it's.
51:01
I haven't said this for a while. It's Bidenomics.
51:04
It's working. As long as you're working three
51:08
jobs, it's working. So you're working three jobs,
51:14
you're doing all the work, you're paying all the taxes,
51:18
right? And it's becoming harder and
51:20
harder every day, huh? You know, I mean, that's just
51:24
kind of the reality of the situation that we're in right
51:27
now. And it's very, very unfortunate.
51:29
It makes me mad. I don't know how you feel about
51:31
it, but. But, but to me, it's a it's it's
51:34
a sad state of affairs. It feels like not all, not
51:40
everybody, but it feels like a lot of our power, a lot of our
51:43
leaders kind of plundered the country, if you ever, if you do,
51:48
you know about the gentleman in this country who wrote the
51:52
Declaration of Independence. It's fascinating to read about
51:58
what they went through, OK. Yes, in Coin Shop, Chris keeps
52:03
telling me to remind you about the crypto scammers.
52:06
I will never, never ever ask you to contact me on WhatsApp or
52:11
anything else. The only way to get a hold of me
52:13
is through e-mail and the e-mail address
52:15
ronsbasementsilver@gmail.com and Susie's e-mail address is in the
52:21
description of every video. OK, darn it, I forgot what I was
52:25
going to say. I had something great to say.
52:27
Darn it. Now shoot, shoot.
52:30
See, I get distracted. I'm going to remember.
52:34
Don't you worry. Oh, I remembered.
52:38
So you're not the only one who forgets things mid sentence.
52:42
I got distracted by that crypto thing.
52:44
The founding fathers. It's fascinating to read about.
52:48
Like we we learned in school. Yeah, about about the
52:51
Declaration of Independence. When they go these guys, they
52:54
were hanging out having a good time.
52:56
You know, they wrote this great document, They all signed it and
52:59
we all live happily. No, they were like being
53:02
attacked the whole time. Like they had their houses
53:05
burned down. Some of them had their children
53:07
and wives, if I remember this correctly, either murdered or
53:11
like put in jail. Some of them got put in jail.
53:15
These guys, these guys made big, big sacrifices to give us the
53:19
liberties that we have. The fact that I can sit here in
53:22
my basement and say I'm not happy about this now.
53:25
I'm not right. I hope they don't take that away
53:29
from me, that I can say that. I hope they don't take that away
53:32
from you, that you can listen to people who who aren't happy with
53:35
the way things are going. It's going to be interesting.
53:38
Let's wrap it all up with silver and gold.
53:40
We know one thing for sure, and that is that precious metals
53:46
have performed flawlessly for thousands of years as a store of
53:51
value. I think today's another poopy
53:54
day. Excuse my language in the silver
53:56
market and gold market, Absolutely.
53:59
OK. I wish I had gotten out earlier
54:01
yesterday with my message to you to be prepared.
54:05
It could get even more dicey as the week goes on because we've
54:09
got the Fed who's on full out verbal assault.
54:13
Against the against the market, against the silver and gold
54:17
market, okay, they are are are talking a bunch of BS.
54:22
Be prepared long term, right, even through the end of this
54:26
year. What are we the end of
54:27
September, we have three more months, we're going to be okay.
54:31
So hang in there, hang tight. That's what I recommend.
54:35
Don't make any financial decisions based upon what I say.
54:37
Thank you again. For joining me, it's a big deal.
54:41
You can subscribe to the channel that helps.
54:43
I appreciate the thumbs up. I really appreciate the Super
54:46
chats. I really appreciate the help of
54:50
the moderators Okay and and I want you to take care of
54:55
yourself today. Right.
54:56
There's no matter who you are. You.
54:58
Yes, you. There's people out there that
55:00
care about you and love you first and foremost.
55:05
It's OK to be a little selfish. Do the best you can to be nice
55:08
to yourself. That'll help you be nicer to
55:09
other people. I'm done preaching.
55:11
Have a great day. I'll see you guys tomorrow.
55:13
Bye. Bye.