Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **SILVER Alert!** You Best PAY ATTENTION to This! 🟠(Gold Price Precious Metals NEWS Update too)
Transcript
- 0:01Hey guys, welcome to the live stream.
- 0:03Welcome to the basement. The silver prices crashing, Oh
- 0:06my gosh, it's the end of the world.
- 0:09But is it really? Because in this video, we're
- 0:12going to look at silver, we're going to look at gold and look
- 0:14at why when we zoom out, we don't have to go much further
- 0:17than a week. And I'll explain that to you in
- 0:20one second. That's what you're looking at
- 0:21right now. But when we zoom out to a week
- 0:24or a month or a year, and when we look out into the future, the
- 0:29story is there. And it's not just a story.
- 0:32These are facts that we know will support current and much,
- 0:37much higher prices for gold and silver.
- 0:40We've got news from Elon Musk that I think shines a real
- 0:44bright light on the silver price.
- 0:46Tavi Costa, like one of the silver and gold gurus of the
- 0:50world, put out a chart that I think shows easily we could be
- 0:54at $136 silver and the argument can be made that we could be
- 0:59there there right now. But while we're going through
- 1:02this little rough patch, let's keep things in perspective.
- 1:06And this is going to knock your socks off.
- 1:08It's what we started with on the screen at the beginning of the
- 1:12video. This is a a quote, a screenshot
- 1:15from the silver futures market, the December 25 futures market.
- 1:20I pulled up a one month chart and I just wanted to show you
- 1:24something that I think is very critical for us to remember.
- 1:27When you look on this chart, you can see the date 11/7/2020,
- 1:325:00. That's exactly one week ago
- 1:35today. One week ago today, we had a $48
- 1:40silver price. Now let's go.
- 1:42Look, that's in the futures market.
- 1:43Let's go look at where we are today to keep some perspective
- 1:48with silver. Right now we're at $50.66, OK?
- 1:52So that puts silver for the last week up what 2 1/2 dollars, 5%?
- 1:59We need to keep that in perspective.
- 2:01Now the other thing, key thing that we want to look at on this
- 2:05chart, and this is exciting, but I'm sharing the wrong screen.
- 2:09There we go. Make sure I got you guys on the
- 2:11right screen. Now we're on the right screen.
- 2:13There's the current futures quote for the silver price down
- 2:174 1/2 percent. Oh my gosh, right, the end of
- 2:19the world. Don't forget, one week ago when
- 2:22we were looking at this, it was, hold on, let me get the right
- 2:27#48 dollars. Yeah, $48.
- 2:33Now, that's not, that's exciting, That's good.
- 2:35That keeps things in perspective.
- 2:37But what I want to show you on this chart is something very
- 2:41exciting because we're ready for silver to blast through to $6070
- 2:45per oz like people like Robert Kiyosaki are talking about.
- 2:49And this is something that that we need to keep an eye on right
- 2:53there. OK.
- 2:55We went up to $54. Just what was that Yesterday
- 2:59morning? We went up to $54.
- 3:02Again, I'm going to draw a line on this chart so that I'm going
- 3:07to call that is roughly our current resistance.
- 3:10Now what you call this when you go up and bump, bump against
- 3:15that, hold on, hold on. What you call this when you go
- 3:20up and bump against it, come back down like we did go up
- 3:24again, bump up against it. That is a double top.
- 3:28Next time we go up, right, we'll be if straw out here, maybe next
- 3:33week, maybe we go, maybe it takes a month, whatever.
- 3:35But next time we go up there, if we bump into it again, that
- 3:40would be a triple top. And triple tops are very, very
- 3:45rare in anything in a stock bond, mutual fund, anything that
- 3:49that's charted that where they keep track of the price.
- 3:52A triple top is very unusual, meaning that the next time we go
- 3:56up to that $54 level, it's very likely that we will absolutely
- 4:03breakthrough it. So stay tuned, OK?
- 4:05And remember the big key, keep in perspective that one week ago
- 4:10we were sitting at $48 silver essentially.
- 4:13Heck, we're almost up to 51. We're doing OK, guys.
- 4:18We're doing OK. And by the way, before I forget,
- 4:21thanks for joining me down here in the basement.
- 4:23This is only possible because of you.
- 4:25If you're not here, it's just a cold, dark, dank basement.
- 4:29So thank you. Please subscribe to the channel,
- 4:32leave a comment in the comments section.
- 4:34I want you to feel like you found a new new little home away
- 4:37from home down here with me in the basement.
- 4:39You're important and your participation does matter.
- 4:43Let's check on backwardation again, right?
- 4:46Backwardation occurs when the spot price is higher than the
- 4:50futures price and it's very unusual and it typically can
- 4:54indicate that there's a high demand for whatever commodity is
- 4:59in backwardation. And we're going to look at it
- 5:01from the silver perspective right now.
- 5:04Let's go out and look at the spot price of silver from our
- 5:09friends at Kitco, where we see the current spot price.
- 5:14Let's get the markers out. It's a marker day.
- 5:17Wow. Spot price of silver is 5116 and
- 5:23the spot market only down 2%, so over $51.
- 5:27And again, if we go out and look at the futures market, we've got
- 5:33a here we go, we've got the futures price lower.
- 5:37So we are in backwardation and almost by what $0.50 or more,
- 5:44maybe $0.60, that's a big, big deal that is very unusual.
- 5:48That indicates that maybe some people are worried, right?
- 5:52They're willing to pay more upfront to get the silver now
- 5:56than to wait for it in December in the future.
- 6:00That indicates stress in the market.
- 6:02It's very unusual and it's something that we're going to
- 6:05keep our eyes on. Now let's go out to, we're going
- 6:09to go all over the place today, guys.
- 6:11We're going to go out and check on the physical price of silver
- 6:15in China. This comes from a great
- 6:18contributor, Oriental Ghost. This is the November 14th that
- 6:22would be today market data on the Shanghai Gold Exchange and
- 6:25the Shanghai Futures Exchange and take a look at this.
- 6:29OK. This is the SGE, the Shanghai
- 6:33Gold Exchange where silver is traded.
- 6:37That's the SG, E, There's AG, that's the periodic table symbol
- 6:41for silver. And we have $54 silver in China
- 6:47right now. So it's breaking through that
- 6:50chart. It's doing it for us.
- 6:52The reason why we're paying attention to this is because
- 6:55China is becoming the world's dominant player when it comes to
- 7:00precious metals. Everybody knows it, right?
- 7:02They're taking over the world of gold, taking over the world of
- 7:06silver in that Shanghai Gold Exchange, quote, $54 that I gave
- 7:11you. That's their physical market.
- 7:14I think it's like what, 9890? Eight, 99% of the metal that's
- 7:18traded on the Shanghai Gold Exchange is backed by real
- 7:21physical metal and the Chinese are taking over.
- 7:25OK, next .0 here we go. So yesterday we hit $54 per oz.
- 7:31What would it mean? How much paper make believe
- 7:34silver, right? That gets traded at the Comex.
- 7:37OK, we like to call it Fantasy Island Silver.
- 7:41You remember the show Fantasy Island with tattoo?
- 7:44And then you would go on and say boss, deplane, deplane, deplane.
- 7:48Everything was fantasy. Everything was made-up on
- 7:50Fantasy Island. That's what we call the Comex.
- 7:53It's Fantasy Island Silver. Yesterday they smashed the price
- 7:57of silver down from 54 dollars. Knocked it right, knocked us in
- 8:01the teeth. How much paper silver do you
- 8:04think was traded yesterday? This is astonishing and we'll
- 8:08continue, right? We will continue to draw
- 8:11attention to this because it shows us one thing.
- 8:14These price smashes are done with paper.
- 8:17The dude tells us the silver market traded 800 million paper
- 8:24oz yesterday to manipulate the price down from 54 dollars.
- 8:31Blatant manipulation to throw one year's worth of mining
- 8:36supply in futures contracts to bring the price down from 54
- 8:40dollars. Game on baby.
- 8:42Guys. Do you realize that the paper
- 8:45market, which only trades what, Monday through Friday for like 6
- 8:48hours? These guys don't work so hard at
- 8:50the COMEX or the LBMA. The markets open, I don't know,
- 8:546 1/2 seven hours? Maybe I'm wrong on that, I don't
- 8:56know. Anyway, Monday through Friday
- 8:59they get all kinds of holidays off OK, and in one day they
- 9:03trade the equivalent of the entire year's mining output of
- 9:08silver. Now, remember, those silver
- 9:11mines are all generally working seven days a week, 365 days a
- 9:15year for 24 hours, 24/7 and in one day, right?
- 9:20We get this paper pushed down. And remember, big key thing to
- 9:24remember, we are in backwardation.
- 9:26The world is waking up. China, the Shanghai Gold
- 9:28Exchange, $54 silver, but we're in backwardation where people
- 9:33are saying now, hey, we'll pay more in the spot market for
- 9:37silver because maybe I'm just speculating.
- 9:41We're just speculating, but maybe they're a little concerned
- 9:45about the futures market being able to deliver the silver in
- 9:49December. And a lot of people are and I'll
- 9:52say speculating, although honestly I think it's a lot more
- 9:55than speculation, are saying these markets are so far out of
- 9:58the balance right now that we could we could buckle up buckle
- 10:05up butter cups. We could see some real fireworks
- 10:09in the silver market in December.
- 10:11It could be yet another Christmas to remember.
- 10:14Don't you worry I'll get the Christmas tree out here soon.
- 10:17Thanks again for being here man. This is all because you guys cuz
- 10:20we hang out don't worry about what's going on in the silver
- 10:24market today. Now remember, I'm not a
- 10:26financial advisor. I've just been sitting down here
- 10:29talking about why I love silver since it was about $15 per oz.
- 10:33But don't worry about the red days.
- 10:37It's part of the process. I understand it's no fun.
- 10:41It's one of the first things I do when I wakey, wakey in the
- 10:44morning is look at the silver price.
- 10:46Look at the I pull up that kit code thing, right?
- 10:49And when you see down 4 percent, 5%, it's like, but you got to
- 10:54keep an eye on the long term, right?
- 10:56Any market that goes up, up, up, up, up, up, up, up, whether
- 11:00you're talking about NVIDIA stock, which I won't comment on
- 11:04that, that Apple stock, the price of oil, the price of
- 11:07anything real estate, it never goes up in a straight line.
- 11:10Pull backs are normal. I just my and that's what I get
- 11:14to do down here in the basement besides hang out with great
- 11:16people like you. I get to look at the long term
- 11:20picture, which is, you know, when I look out a year from now,
- 11:23when I look out, I can see silver easily at $136 per oz a
- 11:29year from now. Now again, be responsible.
- 11:31I'm not a financial advisor, but that's what I see.
- 11:34And you hear people talking about $200 silver.
- 11:37We covered that in the previous live stream.
- 11:39Like smart big people, Michael Oliver, all kinds of the top
- 11:43analyst out there, excuse me, are saying that we could have
- 11:48$200 silver. And they're not talking about
- 11:51like, you know, when we're all hanging out, when we're all,
- 11:55when I'm in the basement of the nursing home and you're in the
- 11:58basement or wherever. We're talking about really,
- 12:01really soon. So let's keep our nose up, man.
- 12:05So much more to talk about. Let's talk about $136 silver and
- 12:08then we're going to talk about Elon Musk and what he's saying
- 12:12that I think shines the brightest light, pardon the pun.
- 12:15And you'll get that when we get there on the silver markets.
- 12:19Before we do that, we get my finger up.
- 12:21Right finger. I do want to say thank you.
- 12:23Right up there, you can see the logo for First Mint.
- 12:26I want to thank First Mint for sponsoring Ron's basement.
- 12:29They are a silver mint, silver exclusive mint in Las Vegas, NV.
- 12:35The interesting thing about First Mint is they're owned by
- 12:38Keith Neumeyer's first Majestic Silver.
- 12:41So first Majestic mines the silver in Mexico, ships at the
- 12:44Las Vegas, NV USA, where it's transformed into world class
- 12:49silver bullion products. And then they go straight to
- 12:51you. They don't get touched by the
- 12:53Comex or the LBMA, right? They don't get, they don't get
- 12:57corrupted by the paper markets. It's the freshest silver on the
- 13:00market and it is super cool. You guys, they've given such
- 13:04positive feedback on your experiences with with First
- 13:07Mint. It makes me feel even better
- 13:10about the fact that they're sponsoring Ron's basement and
- 13:13helping us get together for this show.
- 13:15Let me show you their website real quickly.
- 13:17We will go out to 1st mint.com. Oh, and by the way, I keep
- 13:21forgetting to say this, I apologize.
- 13:23There is a discount code. Get out your pen and paper.
- 13:28VIP as in very important person, RB as in Ron's basement, VIPRB.
- 13:34They got all these unique products.
- 13:36You can check them out here at first mint.com.
- 13:39Free shipping on orders over $299.
- 13:44That cannot be right. Hold on a second here, let me
- 13:47refresh this. Let's get an update from their
- 13:50website on the silver price. Yep, down a dollar 2751 O 8.
- 13:56But you go up here to store. You can see they have bars,
- 13:59rounds, accessories and they're Folds of Honor product line
- 14:04which supports the Folds of Honor Foundation which supports
- 14:07spouses and children of fallen and disabled members of the
- 14:12military and 1st responder community.
- 14:15They give them scholarships. First Mint has donated.
- 14:19I think it's over 375,000. You can go to that section of
- 14:22the website and check out those products.
- 14:24I got this awesome 10 oz folded American Flag silver bar.
- 14:28Thank you, First Mint, and thank you guys for checking out First
- 14:32Mint and for all the positive feedback as well.
- 14:34Let's talk about $136 silver and let's go out to Tavi Costa.
- 14:42Here we go. We're getting there.
- 14:44We're getting there. Don't you worry, basement
- 14:46dwellers, There we go. OK, Tavi Costa, this guy's like
- 14:51the sharpest one out there, right?
- 14:53Amongst the sharpest. Silver is about to enter a true
- 14:57price discovery phase in my view.
- 15:03Here's a reminder that this is all happening while the gold to
- 15:07silver ratio remains near historic high levels.
- 15:12Now, the gold to silver ratio represents you divide the gold
- 15:16price by the silver price. So it tells you how many ounces
- 15:19of silver it takes to buy one ounce of gold.
- 15:23And there's a couple very interesting things on this
- 15:26chart. Let me get the crayons out for
- 15:28us. OK.
- 15:30So as you can see around 1970 and then through 1980 around
- 15:38this range right here when we had the massive, let me get an
- 15:41arrow on there, the massive run up in the silver price, that
- 15:45ratio dropped down below 30, OK. Then again from around 2000
- 15:52through 2011 when we had the big run up again in the silver price
- 15:57to $50, it dropped down to under 50.
- 16:01But what's crazy interesting to look at on this chart is where
- 16:04we are now number one, right? We've been two years all the way
- 16:10up here in this 8590 range, which is 2.5 standard deviations
- 16:16above the historical mean like the only place that the gold is.
- 16:21So we know that the the the outlook remains good for gold.
- 16:24Gold can go even higher and higher if the cherry on top,
- 16:28this ratio continues downward, OK, we could be in even at
- 16:34current gold prices. We could be in for some
- 16:37incredible, incredible returns. Because I want to show you
- 16:42something right here. This is the historical average
- 16:47of the gold to silver ratio 29.17.
- 16:51I did some basic math at $4100 gold today.
- 16:56If we were at the historical average, we would have a silver
- 16:59price of $136. Even if we get to this 50 range
- 17:05right here, what we're looking at for the silver price is $82
- 17:11silver. Now it's very important for us
- 17:13to remember, right, that this also could be impacted by even
- 17:19higher gold prices. We hear, I mean, we could see
- 17:22$6000 gold, we could see $5000 gold.
- 17:25If we get to $5000 gold and we get to A50 gold to silver ratio,
- 17:30we're talking about triple digit silver, $100 silver.
- 17:34So guys, those are real numbers, those are real charts.
- 17:40Those are real historical data points that indicate to us that
- 17:45we could be in for just an unbelievable, I mean
- 17:48unbelievable run as we head into this next year, right?
- 17:53Quarter decade, right? Remember too, right now we're
- 17:56going to look at some data here in a minute though of the past
- 17:59big silver bull runs. These things can last for 10
- 18:03years. We're going to get to that.
- 18:04Don't you worry then. But first we're going to talk
- 18:07about Elon Musk. Then we're going to look at the
- 18:09two big previous bull runs and why we can keep a smile on our
- 18:12face as both gold and silver investors.
- 18:15See if I get that, I didn't get it right there it is right
- 18:18there. I also want to say thank you to
- 18:19channel sponsor first mining gold.
- 18:22You know I don't do this often enough, so I want to bring you
- 18:24out to their website right now. This is First Mining Gold.
- 18:28This is a gold development stage company.
- 18:31As you can see, they're advancing two major gold
- 18:33projects in Canada, Spring Pool in Ontario and Duparque located
- 18:38in Quebec. These are both multi million
- 18:41ounce gold development stage projects.
- 18:44There aren't a lot of these in the world.
- 18:47These are amongst the biggest in Canada, which is where the big
- 18:50mining companies want to be because it's becoming already is
- 18:54a safe jurisdiction, but becoming even a more a more safe
- 18:58and more favorable place to build big gold mines.
- 19:02We know Equinox recently opened a massive mine up there and now
- 19:06they got their Valentine mine. I mean, there's big mines being
- 19:09built in Canada and there's a reason why.
- 19:11And there's very few companies like First Mining that have big
- 19:15gold deposits in the ground. And it's exciting because
- 19:18they're working through the development phase.
- 19:21You can learn more about them here at firstmininggold.com.
- 19:25Let's take a look at, let's see what Elon, let's get back to
- 19:28silver. Thank you First Mining Gold for
- 19:30your support. It's a stock that I've owned way
- 19:33before they sponsored my channel.
- 19:36I only own or I'm sorry, I only take sponsorships guys from
- 19:40companies that I either work with or I own the stock, right?
- 19:44I like to say that I eat my own cooking.
- 19:47I'm not going to come on here and talk about a company or a
- 19:51stock or anything that I don't own myself.
- 19:53That being said, remember I'm not a financial advisor.
- 19:56Do your own research and always please, I can say this, please
- 20:00always be responsible. Never put yourself in a position
- 20:03whether it's. Buying precious metals, stocks,
- 20:05bonds, mutual funds, real estate, anything where you could
- 20:09have some serious harm. Diversify, all that great stuff.
- 20:12Talk to a financial advisor. OK, let's talk about Elon Musk.
- 20:16Elon Musk said something that I think shines the biggest,
- 20:19brightest light. And you'll understand why I'm
- 20:22using those words on the future of silver of anything.
- 20:25He's talking about solar energy. And when when I say solar
- 20:30energy, I almost mix the words up.
- 20:32I want to say silver energy because you know, there's huge
- 20:35amounts of silver that are used in building solar farms.
- 20:39Each one of those panels as a significant amount of silver in
- 20:43it and the newer technology from what I'm understanding, there
- 20:47can be some debate on this matter, but I'm hearing from
- 20:51from who I think are reliable sources that the newer solar.
- 20:55There I go mixing the words up technology will use even more
- 21:00silver. We were driving down the road
- 21:01the other day and we drove by one of these massive in the
- 21:03United States solar farms. And it's like just thousands and
- 21:07thousands of solar panels. And what I'm looking at those,
- 21:10I'm looking at little silver bars all stacked up one against
- 21:14the other. But let's listen to what Elon
- 21:16had to say about silver, solar and silver.
- 21:22I think this is that. Here we go.
- 21:24All right, this came directly from Elon Musk.
- 21:28Here's the His X account with 230 million followers.
- 21:35Wow. He says solar.
- 21:36Oh, shoot, hold on here, go back.
- 21:40He says solar electricity will become by far the biggest source
- 21:46of power for civilization. Now I'm going to put some words
- 21:50into Elon's mouth and say solar electricity will become by far
- 21:54the biggest source of demand for silver.
- 21:58He retweeted this from Jesse Pelton.
- 22:01Who is Jesse Pelton? That's pretty cool. 60, 3000,
- 22:04good job, Elon. China is the majority of
- 22:08electricity growth on Earth. OK, but 3/4 of the new supply is
- 22:14solar. And remember, you can swap, swap
- 22:16out the word silver with solar. That's the case globally, in
- 22:20China, in the US, basically everywhere.
- 22:23And look at this chart. OK, hold on.
- 22:26Let's pull this up. Make sure I got you on the right
- 22:29screen, which I do. And here we go.
- 22:34This is change in in electricity generation for the last 12
- 22:39months. I'm circling that.
- 22:42This down here is total. OK, The Gray bar right here is
- 22:46total for the world of electricity generation.
- 22:51This bar right here, right, is solar.
- 22:56This section right here, as you can see, total world new
- 23:00electricity generation from solar, right?
- 23:03Again, this Gray bar right here is huge.
- 23:06But look at the red. All right, This is China, and
- 23:11there's the good old USA. I'd say we're lagging behind,
- 23:15but everywhere we look, the solar industry is exploding.
- 23:19That will continue to drive massive demand for silver.
- 23:24That's what every indication is. But let's listen to what Elon
- 23:27has to say. This is fascinating if you get a
- 23:30chance to watch this whole thing.
- 23:32Basically Elon Musk says everything is solar power.
- 23:36Everything I'm shining the bright light now is solar power,
- 23:39power, silver power. The rest is noise.
- 23:43He says the sun is about 99.8% of the mass of the solar system.
- 23:48Jupiter's about .1 and everything else and the
- 23:52remaining point 1% and we are much less.
- 23:56That's us here on beautiful planet Earth.
- 23:58But let's listen to what? Listen to what Elon says here.
- 24:00This is pretty interesting. I'd begin.
- 24:02I'd encourage you to come watch this.
- 24:06Come on, Elon. So all the energy produced,
- 24:23basically everything comes from the sun, everything will come
- 24:27from from solar. Solar needs a lot of silver.
- 24:30Mic drop. OK, we're in good shape guys.
- 24:32Silver, there's a reason why now we hear about Australia.
- 24:38Did you hear that? I think it's NSW put silver on
- 24:41the critical minerals list. We know that China is basically
- 24:44saying they're putting export controls on silver.
- 24:47And we got big news last week of the United States of America.
- 24:53Yes, us here in the United States of America put silver on
- 24:57the critical minerals list. People have been complaining
- 25:02about that for decades and decades.
- 25:05And don't forget, now that silver is becoming recognized,
- 25:12we finally got our recognition. Those of you in the new
- 25:16stackers, the new members of the basement dweller community,
- 25:18you're welcome here. I love you.
- 25:21But some of us have been at this for decades.
- 25:23We're finally getting the recognition.
- 25:25Oh, and guess what? There's a little secret.
- 25:28Even though it's being recognized, even though I
- 25:31believe, I don't know what you believe, that we're going to get
- 25:34a silver price north of what Keith Newmeyer said for decade,
- 25:37for a decade, right? Triple digit silver, $100
- 25:41silver. Guess what, guys, there's no way
- 25:44there's no, there's no switch that's going to get turned.
- 25:47It's going to produce more and more and more silver.
- 25:51So it's going to be a wild, wild ride.
- 25:53So much fun to be on together. Hang in there.
- 25:56OK. Hey, next time I go live, we'll
- 25:59go over these two previous massive bull runs in the
- 26:03precious metals markets, in particular in the silver market.
- 26:06OK. I appreciate you joining me here
- 26:09today. We got a lot to look forward to.
- 26:11I know, right? We're going to have red days.
- 26:14Hang in there, take care of yourself, and I'll look forward
- 26:17to seeing you. Yes, you next time.
- 26:19Thanks.