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⚡BREAKING⚡ New SILVER Price $44 Summer Rally... (or This?) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Are we set up for a massive rally in silver, in gold for the
0:06
remainder of the summer? Are we looking at numbers?
0:10
Numbers Fiat, Unicorn fart dust, dollar figures for the price of
0:15
silver, possibly $44.00 by the end of this summer?
0:20
I never would have thought we'd be talking about that.
0:22
You want to know? Let's dig in today.
0:25
Let's talk about the big, big news that happened today about
0:29
inflation. But was it really a surprise to
0:31
us? Weren't we talking about this
0:34
all week, basement dwellers that they would magically print a low
0:38
inflation number? But let's, we are going to dig
0:41
into all the boring details. We're going to look at the big
0:44
picture of what's going on. We will dive into the deep end
0:48
because you want to know, I want to know are we indeed going to
0:52
have this rally in the gold price through the end of the
0:55
year And you know that silver could rally even more.
0:59
There are so many crazy. I've got an article by Jim
1:04
Rogers, yes, that Jim Rogers about silver talks about Doug
1:09
Casey. There are so many unbelievable
1:13
support factors in place right now for silver and gold.
1:16
But you know what, I hope you, yes, you consider us basement
1:21
dwellers, right? Our community here where we get
1:23
together part of your support factor function, whatever you
1:27
want to call it. It's a big deal when you come
1:30
here. Thank you for being here.
1:31
If you want to do something nice first thing, give this a thumbs
1:35
up that helps get the word out. The more people and please
1:38
subscribe and super chats are super appreciated.
1:41
But what was the big news today? The CPI, the inflation numbers
1:45
were down. Let's quickly we aren't going to
1:48
waste our time. We're looking at the big picture
1:51
here. We want to know right.
1:52
Are we really in for an unbelievable ride guys, It is
1:56
really is crazy what's going on and we predicted it.
2:02
We did. Sorry, it was too easy right
2:04
with every with the with the structure of the election coming
2:08
up with what everything going on and I got something else for you
2:12
hilarious we need to say about Jerome Powell, our old friend
2:15
Gomer Pyle. OK oh man, it's we're going to
2:19
have some fun today. All right, let's go out here we
2:23
are at our good friends CNBC. Oh, in red, the S&P trades near
2:28
records. We're going to talk about that.
2:30
The stock market, the real estate market at record highs
2:34
really OK, interesting. We're going to we'll cover that
2:37
a little bit later. But right now, the big breaking
2:40
news story of the day. And again, to you and me, this
2:44
was not big news. We predicted this one, baby.
2:47
Spot on. Congratulations, basement
2:50
dwellers. Inflation falls.
2:53
Oh my gosh. I'll say it one last time, guys.
2:56
We started talking about this late last week.
2:59
And Monday, Tuesday, Wednesday of this week, we talked about
3:02
how we were going to get a unbelievably low inflation
3:04
number. Inflation falls point 1% in June
3:07
from the prior month helping the case to lower rates.
3:11
So that's the big thing. Now this is the summer, this is
3:15
the we're set up is perfectly OK.
3:18
Now look, there's no guarantees don't make any financial
3:21
decisions based on what I'm saying.
3:24
But I will say that in terms of a set up for a premature gold
3:30
and silver rally, it couldn't be better right now because what's
3:33
everybody now? Everybody all there?
3:36
Don't even turn on CNBC, don't even turn on whatever you watch
3:40
Fox Business. Don't even read the Wall Street
3:42
Journal because all you're going to hear, guys, I can tell you in
3:46
a nutshell, the Fed needs to lower rates. the Fed needs to
3:49
lower rates. Is the Fed going to is the Fed
3:53
going to lower rates in July? Is the Fed going to lower rates
3:55
in September? Blah, blah, blah, blah, blah.
3:57
Anyway, the, the a bunch of, look, these inflation numbers
4:01
are BS anyway. You know, if you exclude food
4:04
and fuel and basically anything you need to live, inflation came
4:08
down. OK, all noise, all short term
4:11
noise. But right now we like it because
4:14
it's working in our favor. We'll read these two paragraphs.
4:17
That's it. Then we're going to get into
4:18
some great more crazy information.
4:20
The monthly inflation rate dipped in June for the first
4:23
time. This is interesting.
4:25
In more than four years, providing further cover for the
4:29
Fed to lower rates, the consumer price index, a broad measure.
4:33
Yeah, broad. All right.
4:35
We're not sure what it measures, but it's broad of cost for goods
4:39
and services across the US economy declined by .1%.
4:44
I mean, maybe they're like measuring the the cost of wagon
4:48
wheels and buggy whips. I'm not sure.
4:50
But anyway, declined .1% from May pudding, the 12 month rate
4:55
at 3%, around its lowest level in more than three years, the
4:59
Labor Department reported Thursday.
5:02
The all items index rate fell from blah, blah, blah, whatever,
5:06
doesn't matter. All a bunch of all, a bunch of
5:09
snot talk if that's it. So now the big deal guys, is the
5:13
Fed is going to lower rates. Everybody's on poor Jerome.
5:17
Where's Jerome? Have you guys seen Jerome Gomer?
5:19
Gomer Powell. Gomer, do you like, do you like
5:22
when when we call him Gomer Pyle, Gomer Powell.
5:25
Or should we call him by his proper name, Jerome Powell?
5:30
Hey, look, he's not a government official.
5:32
He works for a private bank. We can rip him all we want.
5:36
So I think I don't think I get in trouble for making fun of
5:40
this guy. There he is.
5:42
OK, so we talked about this yesterday.
5:44
Here's a couple big things to remember.
5:47
The whole narrative in the market is changing.
5:51
It's all lined up for gold and silver.
5:53
It's there's so much, so many incredibly great things going on
5:56
right now for silver and gold investors out before I forget,
6:00
we got to point this out, basement dwellers, it's been,
6:03
it's been 13 1/2 days since we revisited this idea.
6:07
Do you realize, sit back, do you realize what does this mean to
6:11
you? Think about this, that over the
6:13
last two years, OK, the gold price has done very well.
6:18
The silver price has done very well.
6:21
Let's go out. Let's do the update.
6:23
Take your blood pressure medicine.
6:25
It's time for a Ron's basement pin backs.
6:28
Gold and silver update. I need to update this.
6:31
Let me press the magic button here, but going OK, gold up
6:36
almost $34 per oz, silver up $0.60 per oz.
6:41
So we're going to come back to Pendex.
6:43
But what we need to remember, guys, when we're talking, oh,
6:47
did I lose you? Hopefully we're still alive.
6:50
Hello. Oh, what a horrible day for this
6:52
to happen. OK, I think we're still alive.
6:55
OK, so what's so critical? This is the biggest deal in the
7:00
world for you as a gold investor and even more so as a silver
7:04
investor. The last two years, the last two
7:07
years right, the gold price did really well right.
7:09
We just saw it 2400 whatever dollar silver it's silver.
7:13
Oh my God, hold on, I'll, I'm not going to let you see silver
7:17
3150 per oz. Guys, guys, hello.
7:25
We did that in the under the worst set of circumstances,
7:30
interest rates going up the dollar and measured in the
7:34
prettiest turd in the toilet relative DXY terms, right?
7:38
But nonetheless, the dollar being strong, OK.
7:42
I mean, the gold is now everything is shifting right to
7:48
what could be traditionally a very conducive environment for
7:53
the price of silver and gold. Now, sometimes these things
7:56
surprise us, so we got to be prepared for anything, but it's
8:00
so critical. This would be like you, OK,
8:02
imagine you're the gold price, I'll be the silver price, but
8:06
you're the gold price, OK? It'd be like you going out to go
8:09
for a one mile run down a straight Rd. in that for and and
8:14
for two years you're running down that road and you're
8:16
running into a wind like a 20 mile per hour wind.
8:20
If you've ever tried to run into the wind, it's very difficult,
8:23
right? You'd rather have the wind at
8:24
your back. But over the last two years, the
8:27
silver price and gold price have been have been running into a
8:30
headwind. We talked about it in December,
8:35
OK, we made the call about the same time we made the call that
8:38
we would have $2500 gold by May, which we darn near got, which
8:42
everybody said, bro, you basement dwellers are nuts,
8:45
You're, you're pumpers, blah blah blah.
8:47
That the, that the, that the environment had changed from
8:50
going from a headwind to know when, Guess what, buttercup?
8:54
Huh? God put a big smile on your face
8:57
because now you likely have a tailwind.
9:01
And it's important to remember these big economic factors,
9:05
things like employment. Oh, yeah.
9:07
Remember our last prediction last week that the jobs numbers
9:11
would disappoint, right, Right. Those numbers like that, jobs
9:15
numbers, OK. And the inflation situation now
9:19
going down, They work hand in hand, but they're lagging.
9:22
They're lagging indicators to the whole economy, OK.
9:26
And they're very slow and but, but have you ever driven a boat?
9:32
OK. They have a lot of momentum.
9:34
Have you ever driven a boat? I've driven a boat.
9:36
You know, have you ever driven a cruise ship?
9:39
I never have. But they're like big cruise
9:41
ships. They don't, they're not like a
9:43
car where they can, you can you can move quickly.
9:46
And and Angeli, no, these big indicators, they're lagging.
9:50
They're slow, OK, and once they get momentum like a cruise ship,
9:56
right, it takes a lot to change the momentum and now we've got
10:00
definite momentum job market going in the crapper with the
10:05
dollar and the euro. In the end, the DXYI took a DXY.
10:11
Sorry, I flushed the DSDXY the jobs market and the crapper the
10:15
inflation going down. Now look, you, this is maybe
10:18
news to you. So put on your put on your 3D
10:21
chess thinking cap, right? the Fed may say they want low
10:25
inflation, but it scares them to death because if it's the
10:28
economy, which it is slowing down, people not having money,
10:33
right, that's causing disinflation.
10:36
That's the new word, disinflation.
10:38
You want to freak out Jerome Powell in the Federal Reserve
10:41
here, This guy, well, he's going to make a lot of visits today.
10:45
He's he's front and center right.
10:47
Say deflation, right? They freak.
10:49
So what they're going to do is what they've always done, right?
10:57
They're going to print money. OK, I'm going to tell you this
11:00
guy right here. Maybe we need to Can I
11:03
permanently put him up? I don't know.
11:05
There he is. Come on, Jerome.
11:09
Hold on. Stay with me, guys.
11:10
There he is. This this guy.
11:16
There he is. He is not happy.
11:18
He's scared. OK, so this is great.
11:22
I we said it yesterday. Him right.
11:25
And when anything that he does, any action from here on out,
11:30
he's our new friend. We love you, Jerome.
11:32
You're our new friend. We don't trust you.
11:35
You're a liar and you're out for the wealthy and the elite.
11:38
But temporarily, we love Jerome Powell because anything he does
11:43
will very, most likely be very supportive for the silver price
11:47
and the gold price. Imagine if you will, I used this
11:50
example yesterday and this one's funny.
11:53
We can have a little fun basement dwellers.
11:56
All right, I said he's, he's nervous, he doesn't know what to
11:59
do. He's like a four year old boy at
12:01
the zoo, at the monkey cage, obsessed with these monkeys.
12:05
Never seen a monkey before, right?
12:07
But the little 4 year old boy's got to go wee wee.
12:09
But he doesn't want to go. You know, little boys do that.
12:12
OK, Now I was guilty of it as well, right?
12:14
He does. He's, he's too obsessed.
12:16
But now he's in the situation and he's and he's, he's you, you
12:20
know what they do and they hold on to themselves, right?
12:23
And that's what he's doing. He's he's nervous, doesn't know
12:25
what to do. One of you in a comment
12:27
yesterday said that Jerome Powell is doing the pee pee
12:30
dance right now. And I mean really, I know maybe
12:35
an inappropriate analogy. I'm sorry if I offended you, but
12:38
this guy, right now, he's doing the pee pee dance, OK?
12:42
All right. He doesn't know what to do.
12:45
And he's a nice guy. He looks nice.
12:47
Let's put him away. But we don't trust him.
12:50
He's not working for you. He's not working for me.
12:53
We talk about the economy. Did What does it mean?
12:57
Think about this. Think about this, right?
12:59
You live. You think you have to.
13:01
You have to feed yourself, feed your family, provide
13:03
transportation, shelter, right? Think about this, right, 78% of
13:11
the United States population, 8 out of 10 people in the United
13:15
States of America, the richest country in the world.
13:18
It's the economy's wonderful right here.
13:23
Lot of boxes today. Remember, she's gaslighting you,
13:26
OK? She's telling you how great
13:29
everything is her in that. Oh, I can't stand that.
13:32
Press secretary for Biden. She repulses me.
13:36
And there's hardly anybody in the world who repulses me.
13:39
She repulses me anyway. They're gaslighting you.
13:42
They're telling you everything's great, everything's wonderful.
13:45
Then why are 8 out of 10 Americans living paycheck to
13:49
paycheck? Is that why inflation's down?
13:52
Think about it, right? If a go, go drive by your local
13:55
restaurant strip mall on a Saturday, Friday night,
13:58
Wednesday night, right. Empty.
14:01
Empty, right? Is that why inflation's going
14:05
down? Because nobody has any money?
14:08
IF8 out of ten Americans are living hand to mouth, paycheck
14:13
to paycheck, how can they afford that?
14:16
You know, it's no wonder we're hearing about Walgreens shutting
14:20
25% of their stores. May be possible up to that a
14:24
lot. OK, it's no wonder that we're
14:27
hearing how business is suffering.
14:30
They are freaking now. What does that mean for silver
14:32
and gold? Again, guys, it's so critical to
14:35
understand. Let me get rid of that.
14:36
Note that we don't need that anymore.
14:39
So critical to understand, right?
14:42
The only actions the Fed has left, the Fed has been neutered.
14:48
The Fed is the Fed has used all their ammo.
14:54
OK, what little ammo? They and they're all they'll
14:57
talk tough, right? They'll just remember they lie.
15:00
The only thing they have left, the only trick they have left,
15:03
right, is to print more money. That's the bottom line.
15:07
The only trick Jerome has left is to print more money.
15:10
They won't call it QE. They used that one already.
15:14
They won't call it Operation, whatever those other names were.
15:17
No, they'll call it some new fancy name and try to convince
15:20
you that it's good, right? It'll be very confusing.
15:24
It won't make sense. Repo, reverse repo, blah, blah,
15:27
blah, BTFPBR, whatever. Whatever it is, it's a bunch of
15:32
crap, right? That's the next one you're going
15:35
to see. You're going to see the crap
15:36
program out of the Fed, the commercial real estate asset
15:41
protection program, because commercial real estates crashed.
15:45
I made that up, by the way. They're going to call it the
15:47
crap program. And anyway, they'll come up with
15:50
some other, you know, print money printing like the BTFP,
15:54
the bit, whatever that was when they bailed out all the banks,
15:57
right, the year and a half ago. They aren't going to tell you.
16:00
He isn't going to tell you, right?
16:02
Remember, he's doing the pee pee dance right now, OK?
16:05
He's got to do something. He knows he's in trouble.
16:08
He's like a four year old little boy doing the pee pee dance.
16:10
I won't say that again, but I think that's funny.
16:13
Whoever that was they commented and whatever he does do, it will
16:18
will be dilutive, will devalue will will lessen the worth of
16:25
this right this thing or the paper dollar right.
16:28
Remember the chart we looked at yes.
16:30
I mean it's guys it's just absolutely uncar OK, think about
16:34
this. I want you to think about this.
16:36
Does anything make so you're we're being gaslighted.
16:39
Let me get back to that by these.
16:41
They're not going to say we're in trouble.
16:44
They don't do that. OK, No, I mean, and you can look
16:47
back to Greenspan, you can look back to Bernanke.
16:50
Remember Ben Bernanke right there?
16:53
He was around before. I don't have a Bernanke box, but
16:56
Bernanke, last time, I'm going to do it, I promise.
16:59
Bernanke was around before him, and then before that we had
17:03
Yellen, which doesn't make any sense.
17:05
But anyway, these guys, they go and they say everything's great,
17:09
everything is awesome. You know, right, They're
17:12
gaslight, but you know, that's gaslighting.
17:15
They slowly what what you're experiencing doesn't quite does
17:20
it? Let me ask you, does it does
17:22
what you're experiencing right now in the economy, in your
17:26
life, think about your life? Does it reconcile with what your
17:29
politicians are telling you? It's great for them.
17:32
They got high paying government jobs with great pensions and,
17:35
well, you know, private drivers. But that's for the average
17:39
person. And most of us are average
17:41
people, exceptional, trust me, smarter than the average bear.
17:45
That's been a fact. I I learned that from reading my
17:48
Google Analytics. You guys, maybe I need to up my
17:51
game because you're smart, OK? You dive into the deep end.
17:54
So it doesn't reconcile what we know, what we're experiencing
17:58
with what we're being told. I mean, governments have done
18:01
that for centuries and centuries.
18:03
They're always. Everything's great.
18:05
Great. Yeah.
18:05
Yeah. You know what they're doing now?
18:08
And so quickly, I'm going to tell you what they're doing now.
18:11
They got everybody, 90% of the country, 95% of the country
18:15
hating each other. The right hates the left, the
18:18
left hates the right. Hold on.
18:20
I got turned Susie on. Sorry, Susie.
18:23
I forgot to turn you on. All right, now I feel better.
18:27
Here's Susie. Everybody.
18:29
Everybody say hi to Susie. Susie says hi.
18:33
I don't think she's turned on. Susie, are you turned on?
18:38
Nope. She's not turned on.
18:40
NPFC. Not prepared for class.
18:43
Oh, she said hi. OK.
18:45
Everybody says hi, Susie. They're never going to, OK?
18:50
They're never. They're never going to tell you
18:53
the truth. It doesn't work that way, OK?
18:56
90% of the country hates each other.
18:58
They want it that way. They don't want everybody to
19:01
realize that they shouldn't hate each other, that we're all in
19:04
the really, we're all in the same boat.
19:06
I don't get mad at me. I'm not making any kind of
19:08
political statement. OK, right.
19:10
But really, all 9095% of us should be mad at them.
19:15
But they don't want that. They want us to be mad at each
19:18
other. They want the blue to be mad at
19:20
the red and the red to be mad at the blue and oh, that's the end
19:23
of democracy and oh blah blah blah a bunch of BS.
19:27
No, what it is is them. And it's just a, a simple
19:31
mathematical Fact Check me if you think I'm wrong.
19:35
It's a simple mathematical fact that the top 1% of the country
19:39
right, has basically stolen all the wealth from the other 95%.
19:45
And this is, this comes back to gold and silver, right?
19:48
Because gold and silver can protect the middle, right, Can
19:51
protect the lower class people. It can, right?
19:55
That's what it does, right? They're they they've, they've
19:58
stolen all the paper money, OK? But it's getting to a point,
20:01
right where it's like a poker game.
20:03
Let's think about this quickly, OK, 10 people playing poker.
20:07
You come over to my house. We're going to play poker.
20:09
We got 10 people. Nine of us are there.
20:11
We all have about 100 bucks each, right?
20:13
Then my buddy Slick Willie shows up and he brings 100 grand,
20:18
right? I mean, you're, we're like,
20:20
we're not playing. We're done.
20:22
Finish. No more.
20:23
No Moss, right? Eventually the system implodes,
20:29
unfortunately. And and at the same time, at the
20:33
same time, the only thing they're going to do is print
20:36
money. OK, All right.
20:38
Eight out of 10 people. All right, let's talk.
20:42
The real estate market is at all time highs.
20:44
Think about that. Everything's so great out there,
20:50
and I own a house, so I guess I'm happy about that.
20:52
I don't know. I kind of subscribe to that idea
20:55
that my house going up in value. Everybody, everybody thinks it's
20:59
a great thing when their house goes up in value.
21:02
That's part of the brainwashing that Americans have, right?
21:05
Buy a house, it's a good investment.
21:06
It always goes up in value, blah, blah.
21:08
And when it goes up in value, so does your home owner's
21:12
insurance, your property taxes, well, everything else.
21:14
And by the way, you got to live in it, you got to maintain it
21:18
and and you don't make any income off of it, but it's a
21:22
great investment. The American dream.
21:24
Get yourself in debt, be a debt slave, be a debt a surf for your
21:28
whole life. And look, it's great, OK, But
21:30
but it makes no sense, right, that the real estate market
21:35
right now is at these unbelievable levels.
21:37
Think about this. Then we got more day we're going
21:39
to look at later in the stock market is at all time highs.
21:43
It's part I mean, it doesn't make sense, huh?
21:47
If the real estate market crashes, guys, if right and some
21:50
people are calling for a crash next year.
21:52
I'm I don't have a strong feeling on that happening, but
21:56
you got to realize most of middle America, that's their big
22:01
asset. Is their house.
22:04
OK? Remember, 8 out of 10 people are
22:05
living hand to mouth if the real estate market crashes, right?
22:10
That could be absolutely catastrophic to the economy.
22:14
The only and the what's, what's a good way that the, the Fed can
22:18
keep real estate values high? Well, you know, they can print
22:22
more money, right? That's what they did.
22:24
What, what caused real estate prices to go so high?
22:27
Think about it. Do you think it is?
22:30
Do you think it has anything to do with the fact that during the
22:33
C19 crisis, the Federal Reserve printed 40% of the US dollars
22:37
that had ever been created? Created.
22:40
Yeah. It has everything to do with
22:42
that, right? And a zero percent, 2% interest
22:45
rate environment has everything to do with that, right?
22:49
Who cares what the value of your house is unless you're gonna
22:52
sell it today and go to a closing company and get a check,
22:58
right? For a half million and go put
23:00
that into gold or American Silver Eagles.
23:02
Who cares, right? Your house isn't worth anything
23:05
until you get that cashier's check from the from the title
23:08
company. And then at that point it's in
23:10
Unicorn fart dust, right. You better.
23:13
I'm not giving financial. I'm just saying that this real
23:17
estate situation and it's let's just go straight to it here.
23:20
Look at this. This is what this just blew me
23:23
away and this won't take long, but I think it's worth touching
23:26
on. OK, Redfin, big real resident
23:30
real estate company reports US home prices hit new all time
23:34
high. What who's buying houses, right?
23:38
You got to be crazy to buy a house at that right?
23:40
Now the high interest rates, I'm sorry, but you know, and I could
23:43
be wrong, I'm often wrong. Pushing so new all time highs,
23:49
but that pushes pending sales down by 5%.
23:52
But wait, there's more basement dwellers 'cause we, we got a
23:55
little bit further deeper into the pool to dive into on this
23:58
subject. Pending home sales posted their
24:01
biggest decline since February. Oh, that's interesting.
24:04
Biggest decline since February. During the four weeks ending
24:09
June 30th, according to a new report from Redfin, the
24:12
technology powered real estate brokerage, the median sale price
24:17
rose 5% from a year ago, hitting a new all time high.
24:22
However, this is the key. New listings jumped by 10%.
24:28
There's a big Have you noticed that in your neighborhood?
24:31
I've noticed that in my neighborhood, right a year ago,
24:35
two years ago, there were house when houses sold.
24:38
They didn't even put a sign in the yard.
24:39
And I think like the realtor's just talked to each other and
24:42
boom, boom, bam, and 15 people made bids on the House and they
24:45
were gone. Now I see real estate for sale
24:48
signs all over in my neighborhood.
24:50
Have you gotten those? I've somehow when I went on
24:53
Zillow or one of these real estate sites, you know, they get
24:56
your e-mail address. I get these updates all the
24:58
time. Like the house down the street
25:01
from you. They just dropped their asking
25:02
price by $20,000. The residential real estate
25:06
market is in big, big trouble. That could spell big, big
25:09
trouble for middle America, 'cause that's a lot of middle
25:12
Americans. That's the only asset they have,
25:15
right? The other thing, this is the
25:17
deep, deep end of the pool. But think about this.
25:19
The other thing is there's an effort by our government to
25:23
encourage people to take out home equity lines of credit.
25:27
Meaning average Americans paid 200 K for a house five years
25:32
ago. They've got a 3% mortgage on it.
25:34
OK, 200,000 what'd I say? Five years ago, 3% mortgage.
25:39
OK, now today their house is supposedly worth 400,000, so it
25:44
doubled in value in five years, yadda woo Hoo yay, right?
25:48
They still have their 30 year 3% fixed mortgage, right?
25:52
But they're trapped. They're trapped in their house,
25:55
right? They can't move.
25:56
They gonna move. They can move to a bigger house.
25:58
They move to a bigger house. They're gonna pay 600,000 and
26:01
they're gonna have an 8% mortgage.
26:03
Their payments gonna go up by 5 times, right?
26:06
They're trapped in their house. So this is a little secret I
26:09
gotta tell you about all they want to do.
26:12
I'm telling you, this is so critical.
26:14
Teach your kids this to anybody you care about.
26:17
Stay out of debt. All they want to do is make
26:20
Americans into debt slaves. There's no other way to say it.
26:24
The whole system is set up that way.
26:27
The whole public school system, the whole thing is set up for
26:31
people, right? What do you do?
26:32
You go to get get in debt, go to college, get in debt, get a car,
26:35
get in debt, buy a house, get in debt.
26:37
Next thing you know, you got yourself a lot of debt.
26:40
Oh, you got to go on vacation. Don't forget you got to spend
26:42
10K. Take your family to Disney
26:44
World. Got to go to Disney World.
26:46
That's required. You're a bad parent.
26:49
I've never taken my kids to Disney World.
26:51
I take them to Six Flags. But anyway, I digress, right?
26:55
All of a sudden you're just loaded up with debt.
26:57
But here's I'm I'm sorry. Let me get back on point.
27:01
Thank you, Susie. That's the cowbell for 200
27:12
thumbs up. Here's what they're doing.
27:15
OK, since people are trapped in their houses because they got
27:19
these low mortgages, but their houses are supposedly worth more
27:22
now they're encouraging them to take out home equity lines of
27:25
credit. So you bought the house for 200
27:26
K. Now it's worth 400K.
27:29
You're stuck with a 3% mortgage. You're trapped in your house,
27:32
but you got a $50,000 loan on your F-150 or your Nissan Maxima
27:39
or whatever. I'm not making fun of any cars.
27:41
Your Honda Odyssey minivan, right?
27:43
Your wife has a $50,000 loan on her Kia Sonata or what?
27:48
What? That's that Kia Sonata, Hyundai
27:49
Sonata, whatever. What's that car?
27:51
The Telluride I saw on the other.
27:53
I'm like, that's a good looking car.
27:54
That's good looking Telluride, Hyundai, Kia.
27:57
Anyway, you got all this debt. You got 150,000 in debt, right
28:01
on all these high interest rate loans on car loans, they're
28:04
high. And then you got all your credit
28:05
card debt. And so now what they're
28:07
encouraging those people to do, and then we're going to be off
28:09
this subject is take out home equity lines of credit.
28:13
Take out 150K. You got 200 K equity in your
28:16
house. Now it went up your house.
28:18
Build them Gomer, go get yourself a home equity line of
28:22
credit. You can consolidate all those
28:24
high interest bills, pay them off, have one easy monthly
28:27
payment, and then you can start over again, getting yourself
28:31
into even more debt with your credit card.
28:32
So that's what they're doing. This does not end well.
28:37
This. I'm sorry.
28:37
OK, I'm sorry. The gold and silver gone.
28:39
Let's go. Let's go.
28:40
Let's talk about silver. And we got the little Irish
28:44
leprechaun helping us out. We're going to get to that, but
28:46
let's see. This is fascinating.
28:49
You know what let's go. Let's bite the bullet, right?
28:52
This could be good, it could be bad.
28:54
Let's check the price of gold and silver.
28:56
I need to update it. OK, guys, it could be.
28:58
Remember, these are we're in volatile times.
29:02
I'm going to press it, hold your breath and see what we got, OK?
29:06
Gold's at 3624 O seven, $2407.00 per oz and 58 cents is the per
29:13
oz gold price according to our friends at Pembac Silver $31.52.
29:20
We got to talk about the big silver war coming up at first, I
29:24
want to say thank you to channel sponsor Pinbex.
29:27
Here we are right here Pi MB EX pinbex.com.
29:32
We're going to be doing a giveaway end of August giveaway
29:35
more news coming out for you guys about that.
29:38
But if you want to get your hands on some silver gold before
29:42
the price potentially shoots up, right?
29:44
But I could be dead wrong. It could go down, could go up.
29:49
I always recommend dollar cost averaging.
29:51
Buy, buy a little bit every month.
29:53
If you're still in buy mode for silver, If you're still wanting
29:56
to acquire silver, gold or platinum group metals, buy a
29:58
little bit every three months. Whatever it is.
30:01
OK. But no matter how you decide to
30:05
buy it, what I would recommend is that you give yourself the
30:10
opportunity to benefit from checking out pin backs because
30:13
you'll probably find I'm not. Again, you need to find this out
30:17
for yourself, but you'll probably find they've got a
30:19
great selection. They got anything, everything
30:21
that you could ever want. OK.
30:24
They also have a great reputation.
30:27
You want to work with a company you can trust.
30:28
I trust them. Again, you need to find that out
30:31
for yourself. But what I think's best are the
30:33
prices. I found that Pembax, I can, I
30:38
can, it's a one stop shop for me 'cause I also know that I'm
30:41
always going to get a great, great price.
30:44
And the packages come wrapped up like Fort Knox.
30:46
And if you buy more than $299, you get free shipping, but you
30:51
got to get the package open. And what I like to do is like,
30:55
let's say if I'm going to buy, you know, a certain number of Oz
30:59
of silver, I'm weird like this, I'll compare what it would have
31:03
cost at one of the other big online bullion dealers.
31:06
And often time what I find is with Pendeks, I get the exact
31:09
same product, right? 10 oz Canadian silver bars, for
31:13
instance, whatever. But because I bought it at
31:15
Pendeks at such a lower price, I can get like compared if I'd
31:19
bought it at one of the other big online bullion dealers, I
31:21
can buy like a bonus two or three or 4 ounces of silver.
31:25
So anyway, thank you, Pinbex for sponsoring Ron's basement that
31:30
they make this live stream video possible.
31:32
Let's go see what Jimmy Rodgers has to say about silver.
31:38
Did I cover this one? Oh yeah, I didn't even cover
31:41
this right here. This is just quickly a quick
31:45
example. Suddenly this is from
31:46
thestreet.com. Suddenly there's talk of three
31:50
Fed interest rate cuts this year.
31:53
It's either we're going to have we're gonna, yeah, we're gonna
31:56
have interest rate cuts and skyrocketing inflation.
31:58
So anyway, now everybody's talking about June.
32:00
We're done. We, we, we squeeze that lemon.
32:02
Right, guys? Here we go.
32:04
Oh, look at all these yellow. This is a great this is silver.
32:09
What's the word I want to use a word that starts with P.
32:13
But anyway, this is this is silver, like a buffet of the
32:17
best food you could ever eat in your life.
32:18
Silver Academy, Our good friend Big John Little says buying
32:21
silver now is a good investment. According to Jim Rogers, gold's
32:25
breaking records, but this medal is set to continue beating it.
32:29
Look, we love gold, right? We love platinum, but we really
32:33
also love silver. Just yesterday there was an
32:36
article by Jim Rogers. You may know, he's a successful,
32:39
he's a legendary investor, billionaire, bona fide
32:42
international man. I think he lives in Singapore,
32:44
great guy who has successfully completed two round the world
32:48
trips, blah, blah, blah. And he's a look a long time
32:50
friend of Doug Casey. So those of you who may be new
32:54
to silver and gold stacking, people like Jimmy Rogers and
32:57
Doug Casey are like the legends. OK, here's what he said.
33:00
Roger said I have some gold. I want to buy some more gold
33:03
too. If I were buying one today, I
33:07
would buy silver because, you know, silver is cheaper.
33:11
I think wait till you see this data.
33:12
I think silver's down 40% from its all time high.
33:15
Gold is near its all time high. Silver's down 40%.
33:19
We forget about that, don't we guys?
33:21
Huh, So I would prefer to buy silver now.
33:25
I bought some silver yesterday. I hope to buy some more if they
33:28
go down. Yep.
33:29
And and that's kind of the position I'm in, right?
33:31
If, if, and I don't think it will, silver does go down, I
33:36
will buy more. At any rate, silver's discount
33:39
relative to gold becomes even more obvious when you look at
33:42
its price in real terms. In fact, the current price of
33:46
silver, around 30 bucks an ounce, is 48% below its 2011
33:52
high of $57.11. That 57, that's the 2011 high
33:59
when you adjust it for inflation.
34:01
Oh, interesting. OK, but that's not even the
34:04
highest price silver has ever reached.
34:07
Look at this chart. OK, So if you adjust the 1980,
34:11
OK, there's the blue line, make sure I got you guys on the right
34:15
screen, which I do. You look at the blue line, see
34:19
up here where my little magnifying glass, whatever that
34:22
is called inflation adjusted, that's the inflation adjusted
34:26
silver price, OK? The the Gray line is like the
34:30
nominal, that just means the number that just means what it
34:32
was, OK. But when you adjust it for
34:35
inflation, the 1980 high is $170 per oz.
34:41
The 2011 high right 57. This is still this is our cup
34:47
and handle, need I remind you? But none the less, it gets a
34:52
little, it gets like a spilling cup when you adjust the the
34:57
price. So 1980 silver high, everybody
34:59
says oh got $50 wrong. It actually got to $170 per oz
35:05
when you adjust it. But this is just the beginning.
35:08
Let's all have a quick sip of coffee.
35:09
Don't forget, please give this a thumbs up if you haven't
35:12
already. OK guys, I'm back.
35:19
What a morning. Back in 1980, silver shot up to
35:23
$50.00 an ounce, which would be 170.
35:25
We just said that. Put another way, silver we need
35:28
to rise almost six times from its current price to match its
35:31
inflation adjusted peak. This makes it this makes it easy
35:40
to see why Jim Rogers is so bullish on silver right now.
35:44
But let's look deeper. Nah, that's what we like to do,
35:46
right, fellow basement dollars, to understand why his silver
35:50
versus gold investment thesis holds even more weight than it
35:54
appears at first glance. OK, so this this just shows how
36:01
silver like from March of 2020, how gold does well, but silver
36:06
typically way outperforms when we get into a bull market.
36:11
OK, but let's go back even further.
36:14
So that was 2020 further back in time.
36:18
So we're not cherry picking to the late 70s and early 80s when
36:22
both gold and silver reached their all time highs in real
36:26
inflation adjusted terms. During those years, we had high
36:31
inflation, geopolitical tensions and economic uncertainty.
36:34
We're gonna come back to that, much like today.
36:37
So investors flocked to gold and silver as safe haven assets.
36:41
In the next chart, you, my basement dwellers, can see how
36:44
both metals shot up during that period.
36:47
Let me go down a little bit here.
36:49
So this is 1970, OK? And this would be the gold price
36:55
on the left. This would be the silver price
36:57
on the right. The gold line is gold, right?
36:59
Look how gold went from, you know, whatever 5020, whatever it
37:04
was all the way up there, OK, but look at silver, OK, Was it
37:09
like started, started in 1970s like $1.50, some crazy low level
37:14
silver. Well, there it is right there,
37:17
about $3. Silver shot up and way
37:20
outperformed gold. OK, really shot up.
37:24
So now let's just quickly, because we like to feel good
37:27
about things. Remember, as the article says,
37:33
silver and gold had unbelievable returns during the 1970s.
37:39
OK, let's revisit this quickly because we are there now, but
37:44
we're there in even a bigger and better way.
37:47
I just want to read you the numbers.
37:48
Where is it? Where is it?
37:49
Oh my gosh, hold on. In the 1970s, silver rose from
37:54
under $1.50 per oz all the way to $50.00 in 1980.
37:59
Thus, silver rose by more than 25 times.
38:02
I've heard people say it rose like 32 or 37 times.
38:07
But guys, let's go back to this article quickly because this
38:11
points out, right, OK, During those years, the 70s late, we
38:17
had high inflation. We got high inflation right now,
38:20
geopolitical tensions, We got way worse geopolitical tensions
38:24
right now. And economic uncertainty we got
38:27
is just as bad, if not worse economic uncertainty right now.
38:32
But add to that, we have a fiscal, which means our
38:35
government is what, spending $2 trillion a year more than they
38:39
bring in a fiscal disaster in the United States.
38:43
But wait, there's more, right? Right.
38:45
We also have a, a, a debt level disaster in the United States
38:51
with our government, with our corporations, with individuals.
38:55
And it's not just the United States, it's the whole world
38:59
that is in a debt crisis right now.
39:02
The debt can probably never be paid off.
39:05
And so we are people say, oh, the 1970s, the 1980s, that was a
39:09
great time to be invested in gold and silver.
39:12
Well, guess what? You know what, guys?
39:15
I would argue that that the that the, that the scenario that
39:18
we're in right now is even more attractive for the precious
39:23
metals. First, like gold, silver's a
39:25
precious metal. The word literally means money
39:27
in dozens of languages, and that's no coincidence.
39:30
But unlike gold, about 80% of silver's actually mined is a
39:34
byproduct of industrial metal mining or gold itself.
39:38
So the silver supply doesn't react.
39:41
That's the right. I mean, OK, I, I, I could go on
39:46
for hours about this, but let's see what Doug Casey has to say.
39:50
Doug Casey's the guy who came up with that saying that like when
39:54
people start moving into the silver and gold sector, when
39:57
people start buying silver and gold mining stocks as well, that
40:00
the market is so small. It's like trying to drain
40:03
Hoover. Damn.
40:05
With a, with a, with a, with a garden hose.
40:07
OK. But Casey says the market
40:09
dynamics of silver are very different from those of gold in
40:12
a number of ways. One important consideration for
40:15
you basement dwellers as an investor is that silver is a
40:19
much smaller market, partly because an ounce of gold is
40:24
worth about 80 times more than an ounce of silver.
40:26
When people get interested in silver, it tends to move
40:30
explosively and this just shows the size.
40:34
Now this was probably silver at 20 billion when silver was
40:38
closer to $20 per oz. Gold at 200.
40:42
The gold market is what, 10 times bigger?
40:45
OK, Just think about the fact that I did some comparisons at
40:49
one point, like the entire silver mining industry, their
40:53
market cap is like smaller than Home Depot, like 5% of NVIDIA.
40:59
I mean, it's crazy. The exciting thing and you know,
41:02
all the stats, right guys, one out of 100 people own silver and
41:05
gold. That it the the big benefit we
41:08
have right now in that regard. And is this the beginning?
41:12
Is today the beginning? The big benefit we have in that
41:14
regard is what I like to call the law of small numbers, right?
41:19
When it's one out of 200 people that are enthusiastic.
41:22
Are you, I'll ask you, are you enthusiastic about silver and
41:25
gold? I imagine you probably are, but
41:27
guys, the reality is you're like one, right?
41:30
You're like one in 200 people. I mean, we're like the outcast
41:34
in the West, right? So, but going from 1:00 to 200
41:39
to 5 and 200 is not that big of a leap.
41:43
But, but, but it's a heck of a lot more money, right?
41:49
It's what, 2 1/2 * 5 times more money coming into the sector.
41:53
That's why they talk about draining Hoover Dam with a
41:56
garden hose. All right, all right, few more
41:59
quick interesting points we want to look at in this beautiful
42:03
piece of article written by our friends at the silver industry,
42:07
the Silver Academy. Last part, I promise.
42:10
Now I know we're all in two. Oh, this talks about mining
42:13
stocks. This is crazy.
42:15
This is if you're into precious metal mining stocks even
42:17
remotely. This this crazy.
42:20
I know an intuitive and we're all intuitive.
42:22
Intuitive. OK, I'll do the gong in a
42:25
second. Thank you.
42:25
Intuitive, intuitively familiar with the concept of leverage and
42:29
mining stocks. Why are mining stocks important?
42:33
If you're not invested in mining stocks, that's OK, That's OK, No
42:38
problem. Maybe you're just invested in
42:39
physical metal. I get it.
42:41
But you got to think about something, right?
42:43
3D chess. Time to play a little 3D chess.
42:46
Even if you don't buy mining stocks, if people do start to
42:49
buy precious metal mining stocks, that will bring more
42:52
attention to the precious metals sector in general.
42:56
It could be like a self feeding positive love spiral where
43:01
people start to, Oh my gosh, the mining stocks are up 80%.
43:04
No, well, I'm going to buy some physical gold and silver and
43:07
that'll make the mining stocks go up further.
43:09
That's what can happen. All right, That's what can
43:11
happen. So if you're a miner, say the
43:13
price of silver rises from 30 to $40, that's a 33% gain, OK?
43:19
So if you own physical, right, and silver goes from 30 to 40,
43:23
which could happen this summer, you made 33% gain.
43:27
Now, let's say you're a miner and it cost you $28.00 per oz to
43:33
mine silver. OK, so at $30 silver, you're
43:36
making a profit of about $2.00 on each ounce of silver, right?
43:41
You can sell it for 30, cost you 28 and to mine it.
43:46
So you got a $2.00 profit. However, if the price rises that
43:49
33% to $40, the mining company's profits per oz increase an
43:54
impressive 500%. Their profits go from $2.00 an
44:00
ounce at 30 all the way up to $12.00 because it doesn't, all
44:05
things equal, doesn't, doesn't cost them anymore.
44:09
Every time that silver goes up a dollar an ounce, the mining
44:11
company makes another dollar an ounce in profit again.
44:15
What can happen in the scenario is that we get people start to
44:20
pay attention to the mining stocks, right, right.
44:23
And I buy the mining stocks right.
44:25
I own physical. I'll be out and be completely
44:27
transparent with you. I own hardly any physical gold.
44:31
I own a ton, not a ton, but I keep a silver, physical silver
44:36
investment, not here at the house on the off site location,
44:39
but I do have a what to me is a substantial physical silver in
44:44
investment and I buy the mining stocks, especially the gold
44:48
mining stocks. OK.
44:49
But so when the attention comes back again, guys, it could be
44:53
big. I got to ring the gong, you
44:54
guys. Hey, basement dwellers, we did
44:56
it. Oh, I need to say also thank you
44:58
to channel sponsor First Mining Gold.
45:01
You can learn more about them at firstmininggold.com.
45:04
They're a gold development company with two multi million
45:06
ounce projects in Canada. And our friends at Fortuna
45:09
Mining, they have mining current production coming out of Latin
45:14
America and West Africa. You can learn more about them at
45:17
Fortuna mining.com. Let's ring the gong.
45:20
Susie tells me that we got the 300 thumbs up.
45:24
Hey, if we get the 400, it's a big day guys, this is is this
45:28
the day? Sorry, is this the kickoff right
45:33
of AI mean it's possible this could be the kickoff of a major,
45:40
major rally. All right, further, because we
45:42
got to take stock. We've come a long way already in
45:45
the silver and gold price. Let me ring the gong, the golden
45:48
gong three times for you. Thanks to our friend Stu out in
45:58
New Jersey who sent me that golden gone.
46:05
We are still live, OK? You know, I was looking last
46:10
night at the at A at a silver eagle that I have and I was so
46:16
grateful. Look at these.
46:17
OK, it was a silver eagle, not this one.
46:21
It's one that I carry around with me.
46:23
I just want to share with you guys.
46:24
This one has some toning on it. But I was at I was at work and
46:28
I, I always carry around a piece of silver with me and I was
46:31
looking at it. I thought, how lucky are we?
46:33
I mean, if nothing else, right? We can sometimes feel sorry for
46:36
ourselves, but, and I have more than one ounce of silver, but I
46:39
thought there really are, there was this big controversy that
46:42
erupted when I had this example that it just 7 out of 10 Chinese
46:47
people bought one ounce of silver that it would wipe out
46:50
the year's annual mining supply. I got attacked, blah, blah,
46:53
blah. Chinese people don't have money.
46:54
Some people say the Chinese people do have money.
46:56
Same thing true with India, right?
46:58
Seven out of 10 Indian people bought one ounce of silver.
47:01
Boom, right. But I thought there are people
47:04
in this world, right? That because if you're like me,
47:09
let's look at the back of this thing, right?
47:11
Look how beautiful. I mean, I just love are you like
47:15
me? I just love silver.
47:17
Trying to get a good it's hard with the lighting silver so
47:21
reflective. I just love silver and it hit
47:23
me. I was like, there are people in
47:26
this world that one ounce of silver would be a major treasure
47:30
to them. So let's be grateful, right?
47:32
You likely have more than one ounce of silver.
47:34
Maybe you have even more than one ounce, 10 oz 100 who knows
47:37
of gold. We can you know, sometimes we
47:39
always compare and think we need more and more and more, but
47:43
there's a lot of people out there that got a lot less silver
47:46
than you do there's a lot of people out there that got a lot
47:49
less gold than you do all right guys, let's go out and check the
47:55
silver and gold price OK let's go out all right so last we
48:02
checked, gold was up $36 silver 66.
48:05
Hold your breath. Let's press the OK.
48:10
Thank you, Susie. Yes, somebody gave the gold is
48:13
up 37 dollars. Wow. 2409 silver 3145.
48:20
Let's go back here. I'm going to check out the chat,
48:23
see what's going on with our basement dwellers.
48:26
Big day for us. Wow.
48:29
And OK. Hey Vincent, thank you for the
48:33
Super chat. Let's take a look at Vincent,
48:34
everybody. Oh, Vince the lion, He loves the
48:37
basement. We love the basement.
48:38
We love when you come to the basement.
48:42
I heard somebody say something yesterday that I thought it
48:45
really resonated with me. Oh, thank you.
48:48
Wow. I don't know what that thank you
48:51
D Mr. Shovel gold at 2410 U.S. dollars and that's in the DKK
48:58
currency. Thank you guys.
49:00
Wow. Thank you for those super chats.
49:01
It's very, very, very. I know I just saw it.
49:06
I just said it. Susie does Susie on a little bit
49:08
of a delay. I guess you guys are too by two
49:10
or three seconds when I'm talking, OK, as we've destroyed
49:16
the middle class in the United think about this.
49:18
I want you to think about this, OK, as they've destroyed the
49:22
middle class in the United States and they have that's a
49:25
fact, right? The the Fed, the the, the our
49:30
leaders, however you want to say it's very unfortunate, but the
49:33
middle class has been annihilated in the United
49:36
States. Isn't it interesting at the same
49:39
time? Thank you, Ron.
49:41
Wow, man, you guys are being super generous.
49:44
Did you think that has anything to do with the all the, the so
49:48
they they financially destroyed the middle class ship the jobs
49:52
to China, ship Mexico John Deere is moving a bunch of jobs to
49:57
Mexico. John Deere.
49:59
I mean, that's like the most American company in the in the,
50:02
in the country. Anyway.
50:05
Think about this is they've destroyed the middle class in
50:08
the United States. Isn't it interesting that it
50:10
also coincides with the destruction of any middle ground
50:14
politically, like we talked about earlier?
50:17
I don't know. It's something for us to think
50:19
about it because I know you're like me.
50:21
You like the sometimes dive into the deep end of the pool.
50:25
All right, guys, thank you. I want to say thank you again to
50:28
our sponsors, Pinbex, PIMPI, MB, EX first mining gold and Fortuna
50:33
mining. It's been a crazy day in the
50:36
markets. It's playing out.
50:38
Let's let's let's talk about briefly again, nobody has a
50:44
crystal ball, OK, but we could likely be setting up right now
50:50
for it. Could it can happen guys, right?
50:55
Look at these, look at the long term charts of silver.
50:58
Look at the long term charts of gold, silver in particular.
51:01
We could be setting up for it just a a a head spinning rally,
51:06
right? Keith Newmeyer, I heard him
51:08
talking last night. I think he's down in Florida at
51:10
that Rick Rule symposium that he said, yeah, I said triple digit
51:14
silver 10 years ago. It can happen, OK?
51:18
It can happen. I know it feels like, you know,
51:22
and I get attacked and, and you, maybe you do too, right?
51:25
Then we talk about these high. I mean, with everything going
51:28
on, I don't feel like we've ever been maybe in the last like 5-10
51:34
years, I don't remember a time where it felt like the setup,
51:38
all the pieces have been in place as much as they are right
51:42
now for a big rally in the metal.
51:45
So I'll be here for you through it all.
51:46
I really appreciate you joining me here in the basement.
51:49
I want you to have a great day, OK?
51:52
And I hope you decide to come back and join us.