Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **CRAZY!** Silver Price & Gold Can't Ignore THIS - (Precious Metals News Update) - China and India

Transcript

**CRAZY!** Silver Price & Gold Can't Ignore THIS - (Precious Metals News Update) - China and India · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  The silver price and gold are experiencing an unprecedented
• 0:06
  global phase. We are witnessing history, and
• 0:10
  it's important for us to remember this is happening on a
• 0:14
  global basis. The silver market and gold
• 0:17
  market aren't just isolated to the United States or North
• 0:20
  America or even the West. This is going on on a worldwide
• 0:25
  basis. We're going to look at some
• 0:26
  examples. They're going to make your hair
• 0:28
  curl. OK, Make your those tango that
• 0:31
  are happening right now in our world that we can see will lead
• 0:35
  to much higher demand and by default we believe quite
• 0:40
  possibly much higher prices for gold and silver.
• 0:43
  But first, thank you for joining me today.
• 0:45
  I'm recording this around noon on Monday, the 20th of October.
• 0:51
  We are seeing some good movement back in the silver price and
• 0:55
  gold price, but the long term outlook remains very optimistic.
• 0:59
  I'm most optimistic Mystic about you, yes, you for joining me
• 1:03
  down here in the basement. It's a big deal when you choose
• 1:06
  to give me some of your time. Be down here, be part of this
• 1:09
  community. You're important.
• 1:11
  Leave a comment. We want to hear from you, share
• 1:14
  it with your friends and please subscribe to the channel that
• 1:17
  makes upstairs. Susie, my lovely wife and
• 1:20
  assistant, very, very happy. Let's take a look at what's
• 1:24
  going on in the world. We got a lot of reasons to be
• 1:26
  optimistic and a lot of great examples, and it's incredible
• 1:30
  what's happening. Let's start with India and you
• 1:33
  before we go look at this. Remember guys, India has 1.4
• 1:37
  billion people, right? More than three times the number
• 1:41
  of people in the United States. And what's happening in India
• 1:44
  right now is nothing short of astonishing.
• 1:48
  Huge. India's largest precious metals
• 1:51
  refinery has run out of silver stock for the first time in
• 1:57
  history, driven by massive demand from Indian buyers ahead
• 2:03
  of Diwali. Yes, you read that right.
• 2:05
  Silver is sold out in India. Are you noticing a a real common
• 2:10
  trend when we're talking about gold and silver as of late, we
• 2:14
  heard Jamie and Jamie Dimon say something about the first time
• 2:17
  in the history of his career. We're we're we're hearing that
• 2:20
  phrase first time in history over and over.
• 2:24
  So India is having major issues. We've got more to look at from
• 2:27
  India and it gets super interesting.
• 2:30
  Guys, let's go out to this was from Reddit and they're they're
• 2:34
  talking about how sold out in India panic in London, how the
• 2:43
  silver market broke demand demand, how the silver market
• 2:46
  broke demand for silver ETF has soared in recent months amid
• 2:51
  concerns about the stability of the US dollar, a wave of
• 2:55
  investment that's become known as the debasement trade.
• 3:01
  We always knew we'd be famous down here in the basement,
• 3:03
  didn't we? Basement dwellers.
• 3:05
  Now they're actually calling it the debasement trade.
• 3:07
  We know they're referring to the debasement of the dollar, but
• 3:12
  that comes from Bloomberg. And then here is the actual
• 3:16
  headline that we have from from Bloomberg sold out in India,
• 3:22
  panic in London, how the silver market broke.
• 3:27
  Guys, I want to get the crayons out here for you for one second.
• 3:30
  I know it's small on your screen, but but couple key
• 3:34
  things here, right? Sold out in India, panic in
• 3:39
  London, how the silver market broke.
• 3:44
  OK. And that is from Bloomberg, the
• 3:48
  world's biggest, most respected, the financial news outlet
• 3:52
  talking about what we could only have dreamed about just a few
• 3:57
  months ago. But wait, there's more.
• 3:59
  Before we wrap up with India, I thought it would be nice for us
• 4:03
  to go get a look at what's actually happening in the Indian
• 4:06
  markets. This comes from Wall Street.
• 4:08
  Gold scenes from Mumbai Zavery Bazaar overflowing as Don
• 4:14
  Terrace buyers swarm jewelry shops for gold and silver coins.
• 4:20
  It's not a rush, it's a liquidity.
• 4:22
  It's a liquidity event in metal form.
• 4:26
  Check this out guys from India. And this comes from CNBC, as you
• 4:34
  can see there on your screen. You want some silver and gold
• 4:53
  coins? Nothing for you OK but let's get
• 4:57
  a report on what's happening in the United States because
• 5:00
  generally in the United States you can still get silver coins
• 5:03
  and gold coins. Before we do that, I do want to
• 5:05
  say thank you to our channel sponsor.
• 5:08
  First meant they're an online bullion dealer, but they are
• 5:11
  very unique. They're owned by first Majestic
• 5:14
  silver. So keep new Myers first Majestic
• 5:17
  silver mines silver in Mexico, ships it to Las Vegas, NV to the
• 5:23
  first meant facilities where it's transformed into
• 5:26
  one-of-a-kind unique world class silver bullion products.
• 5:30
  And then it goes straight to you from the mine to the meant to
• 5:35
  you. No COMEX, no LBLBMA.
• 5:38
  And as you can imagine, it's also the freshest silver in town
• 5:42
  because it was just recently dug up at one of the first Majestic
• 5:46
  mints in Mexico. Let's go out and take a look at
• 5:48
  their website really quickly because you still can get silver
• 5:53
  in the United States on the right screen.
• 5:56
  This is talks about their Folds of Honor campaign where they're
• 6:00
  raising money for the Folds of Honor Foundation.
• 6:03
  That's three of the products they have in that line.
• 6:07
  We're going to go back to their main page.
• 6:09
  I'll show you how to get the Folds of Honor, which is right
• 6:13
  here. You go to
• 6:14
  store.anditsthesecondfromthebottombutasyoucansee@firstmint.com. Free shipping on orders over
• 6:20
  $299. Las Vegas Round one of my
• 6:23
  favorites. Year of the Snake, another one
• 6:25
  of my favorites. Year of the Dragon, another one
• 6:28
  of my favorites. I have all of these and the
• 6:32
  Buffalo round my my personal favorite with that Indian Head
• 6:36
  on the background. So thank you, First Mint, for
• 6:38
  making the Ron's basement broadcast possible, letting us
• 6:43
  all get together down here in the basement.
• 6:45
  And I am happy you're here. I already told you that.
• 6:48
  But I'll beg you to please subscribe one more time, OK?
• 6:51
  What about the United States? We can still get silver.
• 6:54
  We can still get gold. But are there signs of cracking?
• 6:57
  Let's go out to Reddit and this is very interesting.
• 7:04
  This comes from Wall Street silver.
• 7:06
  We can't weak hand selling is exhausted.
• 7:10
  Reason why this is important. Report from the field.
• 7:12
  Was at my local coin shop yesterday and two others in the
• 7:16
  store. Quiet for that store.
• 7:18
  All of us buyers. My local said sellers were non
• 7:22
  existent over the last three days the buyers were out in
• 7:27
  force. He said he thinks the physical
• 7:30
  sellers, again, this is in the United States, the weak hands
• 7:33
  are exhausted for now. Think about it, guys.
• 7:37
  Right? And the reason why I wanted to
• 7:38
  bring this up is I think most people in the United States who
• 7:41
  wanted to get rid of their silver got rid of it during this
• 7:45
  big run up to $50.00. I really think that I agree with
• 7:49
  this. It's been exhausted.
• 7:50
  His inventory has shrunk in the last week.
• 7:54
  This guy says he added 200 oz on the $3 takedown and we'll
• 7:57
  continue. All right, a few more comments I
• 8:00
  wanted to show you here. This guy said one of my local
• 8:03
  coin shops was down to their last 40 oz.
• 8:06
  Another one said they did have plenty of buffaloes.
• 8:10
  OK, this one here. I stopped at my local coin shop
• 8:13
  this morning since we had a Friday tamp down.
• 8:16
  I parked at the last spot left one seller 6 buyers.
• 8:22
  So 1 seller 6 buyers counting myself.
• 8:25
  The owner told me this past week was the buyers exceeded the
• 8:29
  sellers. OK, they had zero, 90% silver
• 8:33
  left unless you wanted brilliant BU level or slabbed coins.
• 8:38
  So we in the United States, we are seeing the beginning right
• 8:42
  of the retail crowd waking up your aunts and uncles, your
• 8:45
  neighbors who didn't give two cares, but you were crazy
• 8:48
  because you bought silver and gold over the last few years.
• 8:51
  Those people who we endearingly refer to as the sheeple, right?
• 8:58
  They're waking up and guys, it's just going to take a few of the
• 9:01
  sheeple to wake up for that local coin shop that we all love
• 9:05
  and adore to be wiped out completely of gold and silver.
• 9:09
  OK, so we talked about India, we talked about your local coin
• 9:12
  shop, the United States. I got some other big factors
• 9:15
  We're going to look at. I think the big secret factor
• 9:18
  for gold and silver. We're going to get to that
• 9:22
  later. But let's talk about China
• 9:24
  briefly next because we know India is having a metal crisis.
• 9:28
  I guess you can say Bloomberg talking about it.
• 9:30
  So I guess it's okay for us to say it.
• 9:33
  But what about China where there's another?
• 9:35
  How many people in China? 1.4 billion people and let's see
• 9:42
  what we're hearing out of China because again, get ready for
• 9:46
  your hair to curl. Things are happening in a big
• 9:49
  way in China. Make sure we got the right
• 9:52
  screen up, which we do. This came from the Oriental
• 9:55
  Ghost. He is the leading source of
• 9:58
  information when it comes to all boots on the ground precious
• 10:01
  metals. News from China and wait till
• 10:03
  you hear this breaking. China's silver capital is out of
• 10:08
  stock today CCTV and I'll tell you what that means here in a
• 10:13
  second. Financial news Zhongjiang and
• 10:17
  Qingzhou, Hunan Province Province, which accounts for 1/4
• 10:22
  of China's silver production, is known as the silver capital of
• 10:27
  China. News from there, most of the
• 10:31
  shops are out of stock of silver bars.
• 10:35
  That comes from CCTV, which is China Central Television.
• 10:40
  It's their state-run television channel and they're telling us
• 10:44
  that most of the shops in China's silver Capital, most are
• 10:49
  out of stock of silver bars. And let's just take a look.
• 10:53
  This came from the Silver Academy screenshot from Silver
• 10:57
  Academy Sub Stack recent article.
• 10:59
  This points out the actual price people are paying online for
• 11:04
  silver in China on jd.com, which is the Chinese equivalent of
• 11:08
  Amazon.com and here in the United States of America on
• 11:12
  jd.com, prices range from high 80s to over $125.00.
• 11:18
  Remember, even if you double the price of silver, it does very
• 11:22
  little to impact the price of the final good, perhaps 3% of
• 11:26
  the price increase. So unbelievable.
• 11:30
  Let's we got a lot more to talk about including that secret
• 11:34
  weapon nobody's talking about. We're always ahead of the curve
• 11:39
  that I think could lead to a massive wave of demand for gold
• 11:42
  and silver. Before we do that, I do want to
• 11:44
  say thank you also to 1st Mining Gold.
• 11:47
  They sponsor Ron's basement silver and gold content.
• 11:50
  They are a development stage gold mining company in Canada.
• 11:53
  They have two huge projects in Canada, Spring Pole in Ontario
• 11:58
  and Duke Parquet located located in Quebec.
• 12:01
  These are multi million ounce development stage projects,
• 12:05
  means they're working through the development process.
• 12:08
  But the gold has been defined in the ground.
• 12:10
  Hundreds of millions of dollars have been spent over decades to
• 12:14
  define the gold that's in the ground.
• 12:17
  Look, they're going to become those types of big deposits.
• 12:20
  I don't have a crystal ball, but I think they're going to become
• 12:23
  very attractive to the big mining companies because the big
• 12:27
  mining companies are making a lot of money at the current gold
• 12:30
  prices. But they've neglected their
• 12:33
  pipeline of future projects over the last 10 or so years.
• 12:37
  And on top of that, the big mining companies are now also
• 12:41
  looking to grow, right? They were over the last 10 years
• 12:44
  paying off that doing dividends, OK, kind of ignoring their
• 12:49
  pipeline. Now they're focused on their
• 12:51
  pipeline and looking to grow. So look, all stocks have a risk.
• 12:55
  All investments have a risk. But first Mining Gold is a stock
• 12:58
  that I owned long before they sponsored my channel.
• 13:02
  I only take sponsorships from companies that I either own or
• 13:06
  do business with. You can learn more about them at
• 13:08
  firstmininggold.com. And I said this already, but
• 13:11
  I'll repeat it quickly. I'm not a financial advisor.
• 13:14
  Do your own research, all that great stuff.
• 13:17
  Let's talk about. Let's just see this is crazy
• 13:20
  because when people really come into the gold and silver mining
• 13:24
  sector and buy the stocks, maybe you just own the physical metal
• 13:28
  and you're like, I don't care about gold and silver mining
• 13:30
  stocks, will you? You should care because when
• 13:33
  people, when the market wakes up and it hasn't yet to gold and
• 13:37
  silver mining stocks, it'll bring more money into the
• 13:40
  overall precious metals ecosystem.
• 13:43
  And take a look at this just to show you the opportunity that
• 13:48
  exists for these, for that sector to do very well.
• 13:52
  This comes from metals and miners.
• 13:54
  Make sure we got you on the right screen, which we do.
• 13:57
  OK, Sprott, which is like, you know, that's Eric Sprott.
• 14:00
  Sprott Asset Management, the the gold and silver benchmark
• 14:05
  company in Canada says gold mining and mining stocks and
• 14:10
  we'll say silver as well, remain under invested despite gains and
• 14:16
  take a look at this chart. Let me see if I can get this up
• 14:18
  full screen for you. Hold on here, having some tech
• 14:22
  issues here. We are mining industry as a
• 14:27
  percentage of global equities. I'll just underline that for
• 14:32
  you. This is unbelievable.
• 14:34
  Look at this like in 19-70, around that time, mining
• 14:39
  equities were all around 11% of total world equities.
• 14:44
  Look at what has happened. OK, down, down, down, down.
• 14:49
  This will go in cycles. Right now it's around 1%.
• 14:55
  Are you kidding us? OK.
• 14:57
  Look, as this is, as this starts to go up, I can draw over there
• 15:03
  to the Gray section. Even if we get to 6%, hold on
• 15:08
  6%, that's 6X more money in the precious metals sector.
• 15:16
  Again, of course, that will help the mining stocks, but guys,
• 15:19
  that will also help the price of physical metals because it will
• 15:22
  bring more overall people into the sector.
• 15:25
  Remember those sheeple that we talked about?
• 15:31
  They're the ones who will get us to the 6%.
• 15:35
  And what's Goldman Sachs telling us?
• 15:37
  OK, Goldman Sachs. Look, guys, here's the reality.
• 15:40
  The reason why we pay attention to Goldman Sachs when they say
• 15:43
  something shocking about precious metals.
• 15:46
  They're the world's most prestigious.
• 15:49
  They may not be the biggest, but everybody listens to Goldman
• 15:52
  Sachs. We may or may not like them.
• 15:54
  Maybe the only thing we like about Goldman Sachs is the fact
• 15:58
  that the 1st 4 letters of their name spell the word gold.
• 16:01
  But when they even they're saying things, look at this.
• 16:05
  It's incredible, just incredible what we are living through right
• 16:09
  now. And get the screen up for you
• 16:14
  for your viewing pleasure, we have this from Yahoo Finance
• 16:17
  Finance. Goldman Sachs says the demand
• 16:21
  for gold is not just hype and predicts the US could still see
• 16:26
  a repeat of the Nixon era spike. So there's another reason why
• 16:31
  this is important besides the fact that this is Goldman Sachs.
• 16:35
  Because when they're talking about the Nixon era spike,
• 16:39
  they're talking about the 1970s. And as we've talked about
• 16:42
  exhaustively together down here in the basement for years, in
• 16:46
  the 1970s during stagflation, which is what we got right now,
• 16:52
  the price of gold and silver absolutely skyrocketed.
• 16:56
  What silver went from $1.50 to $50.00 an ounce during that
• 17:00
  period. I think gold went from what, $35
• 17:04
  to 800, I don't know, like 17 X. So guys, when Goldman Sachs is
• 17:08
  saying that we're going to pay attention and we're going to pay
• 17:11
  very close attention. The secret weapon that a lot of
• 17:16
  people in the precious metal sector want to ignore, don't
• 17:19
  want to even don't even want to recognize that it exists.
• 17:23
  But I'll tell you, in five years we will look back and say, wow,
• 17:28
  we underestimated the power that this secret weapon would have.
• 17:32
  That is the tokenization of gold and silver.
• 17:36
  And I got a news story I'm going to share with you right now that
• 17:39
  shows us it's working. Whether you like crypto, hate
• 17:42
  crypto, whatever, the reality is each one one of these tokens and
• 17:47
  it's happening right now, each one of these digital tokens on
• 17:51
  the blockchain that are created are backed by 1 ounce of real
• 17:57
  gold. And the same is true for the
• 17:59
  tokens that deal with silver. And it's exploding.
• 18:03
  So it could it could create another huge wave of demand for
• 18:09
  the metals. And I can tell you people in the
• 18:12
  crypto world are very interested in precious metals.
• 18:15
  Precious metals investors and crypto investors share much of
• 18:19
  the same worldview outlook. They're like they're like
• 18:21
  siblings and a family. None the less.
• 18:24
  Take a look at this to show you that this is happening and it's
• 18:28
  happening right before our very eyes.
• 18:31
  Uh oh, Hold on here. It's not letting me share my
• 18:34
  screen. Hold on one second.
• 18:36
  We won't give up. Hold on.
• 18:40
  Here we go. Now it's working.
• 18:43
  Sometimes it takes its time. Like all of us.
• 18:45
  We're all getting a little bit older.
• 18:47
  Here we are. And make sure this is pulled up
• 18:51
  for you. OK?
• 18:53
  This comes from Coin Tribune. Tokenized gold crosses 1 billion
• 18:59
  in daily trading volume. This is real similar to the gold
• 19:03
  and look like a lot of people aren't big fans of the GLDETFI.
• 19:07
  Get it? I understand.
• 19:09
  OK, but it's the same exact thing here with tokenized gold.
• 19:14
  Instead of it being an ETF share, it's a it's a digital
• 19:18
  token on the blockchain that is represented.
• 19:21
  There's one of the big ones from Tether, XAUT.
• 19:24
  They have a big ball in Switzerland where they keep all
• 19:28
  the gold they have. That backs up each one of these
• 19:31
  digital tokens and it's crossed over 1 billion trading volume
• 19:34
  here. This is the important thing.
• 19:36
  Gold enters the 24/7 era driven by record rally in the yellow
• 19:42
  metal. Tokens backed by gold have just
• 19:45
  exceeded $1 billion in daily volume.
• 19:49
  This milestone establishes tokenized gold as a trading and
• 19:54
  hedging tool, more agile than true even traditional ETFs.
• 19:59
  So the ETFs, think about it and the ETFs, when they first came
• 20:03
  out, everybody was like, Oh no, it's a scam, whatever, right?
• 20:07
  But they drove a huge new source of demand for gold.
• 20:11
  But the ETFs aren't tradable 24 hours a day, seven days a week.
• 20:15
  The gold tokenized gold products are tradable 24/7.
• 20:20
  Look, I know for a fact that in five or ten years we're going to
• 20:24
  look back and this is going to be one of the biggest surprise
• 20:27
  dark horse sources of. Massive demand for gold and
• 20:31
  silver because there's tokenized silver products as well.
• 20:34
  And with silver, there's another, there's a cherry on
• 20:37
  top. You waited till the end to hear
• 20:38
  this one. That's going to be demand for
• 20:41
  silver from jewelry. That's another one nobody talks
• 20:44
  about. Silver's already got a great
• 20:47
  story. You know, the whole supply
• 20:48
  demand dynamic. But tokenized silver and demand
• 20:52
  for silver for jewelry, like one in 5 ounces of silver, not right
• 20:57
  now. That's that's consumed every
• 20:59
  year is used for silver. And then I got I have it on good
• 21:02
  word demand for silver jewelry is exploding.
• 21:06
  Hey, thanks again for joining me.
• 21:08
  We got a great, great, great road ahead for us.
• 21:10
  Please subscribe to the channel. Most importantly, OK, take care
• 21:15
  of yourself. We're on a wild ride.
• 21:17
  There's going to be big UPS. There's going to be some downs,
• 21:20
  but we'll be through it together.
• 21:21
  Thanks for joining me down here in the basement and I'll see.