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The Top REGRETS of Silver Stackers...☹️ (ARE YOU GUILTY?) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
We got big news out of the US Mint, but more importantly, what
0:05
does it really tell us about what's going on?
0:07
Why is the US Mint jacking up prices?
0:10
But even more importantly, we got other big, big news to talk
0:14
about in the silver and gold market.
0:16
And we're going to wrap up today, guys.
0:18
I'm going to tell you every mistake that I've made and I've
0:22
heard from you that you've made as silver and gold stackers, you
0:26
aren't perfect. Nobody, you're not basement
0:29
dwellers. We aren't expected to be perfect
0:31
now, are we? Right.
0:32
Nobody, everybody makes mistakes, but we can learn from
0:35
our mistakes and maybe, right, maybe we can learn from each
0:39
other as well. But let's get started.
0:41
What is going on? There's there's a couple very
0:44
interesting components to what the US Mint did this week that I
0:47
think we need to explore because the US Mint did this Guys, hold
0:53
on here boy, everything here we go share entire screen share.
0:58
OK, the US mint sends out this communication this week. the US
1:04
mint right. They make the American Silver
1:06
Eagle. They make all that all the
1:08
numismatic coins. What's the US Mint telling us
1:11
this week? Purchase your silver coins
1:14
before July 9th. I have highlighted in yellow
1:17
here due to due to the increased price of silver.
1:23
What? What are you talking about the
1:25
increased price of silver and other cost?
1:27
the United States Mint is raising prices on all numismatic
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silver coins and metals effective July 9th due to the
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increased price of silver at 12:00 AM blah blah blah.
1:40
We recognize the impact this will have on our loyal customers
1:43
which is why we are no notifying you.
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Blah blah blah. Look at these price increases,
1:48
guys. American Eagle, I mean, there's
1:51
a whole bunch of them. We'll just do some highlights.
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American Eagle 1 oz Silver proof coin from $80.00 up $15 to $95.
2:01
OK, here we go. American Liberty silver medal
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again. Everything seems to be getting
2:07
raised by at least $15 here. Limited edition silver proof set
2:14
from 2:20 to 2:55. OK, Now this is bad enough,
2:18
wouldn't you? Let's, but let's talk about two
2:21
components that we need to look at.
2:23
Everything went up in price, OK? Presidential silver medals up
2:27
$15, Armed forces one ounce silver medal up $15.
2:33
Number one, we need to think about this.
2:36
Let's go back up here, OK, Due to the increased price of
2:40
silver, number one, yes. Is the Mint planning on the
2:45
silver price coming back down? No.
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So you have to ask your question yourself.
2:51
A question does what does the US Mint know?
2:54
I mean these are are already high-priced numismatic type
2:57
products, right. But what is the Mint know that
3:00
they're saying we got to Jack prices up.
3:02
What did they see coming in the next six months in the next
3:07
year? OK, that's number one.
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Number two #2 need I remind you basement dwellers?
3:16
OK, need I remind you? Let's pull her out then.
3:18
Oh, where'd she go? Oh my gosh, I lost her.
3:22
Hold on a minute. Oh, my gosh, where did she go?
3:26
This is crazy. I lost her.
3:30
Hey, Susie, I lost Janet Yellen. Oh, here she is.
3:38
Happy 4th of July. By the way, we need to ask, did
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you know that this lady, her right, she right is the head of
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the Treasury Department and the US Mint is a Bureau, Whatever
3:53
the heck a Bureau is. I'm every time I see that word,
3:56
I'm like, what's a Bureau anyway?
4:00
Isn't she the one telling us, I just want to point this out,
4:02
Isn't she the one telling us that the economy's great, that
4:05
there's inflation's under control, everything's wonderful.
4:09
Well, then why is your US Mint jacking up prices by what?
4:13
Those are some pretty hefty price increases, 20%, right from
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$75 up to $90.00 on a lot of these products.
4:23
Doesn't that compute? What's what's 15 divided by
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that's, you know, that's at least 10 percent, 15%.
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I'm an accountant. I should be able to do it in my
4:32
head, but I can't, which maybe that explains why we're down
4:35
here together in the basement talking with each other.
4:38
But isn't it interesting that the person, I'll show her to you
4:41
one more time. Let's alltel her happy 4th of
4:43
July. Look at her with her flag behind
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her. That's telling us that, oh, we
4:48
got inflation under control, inflation's transitory
4:50
inflation. That's all good that the Bureau,
4:54
the US Mint, that she overseas is jacking up prices by 13
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percent. Think about it, huh?
5:01
Think about what's going on and why is the US Mint raising
5:05
prices And they're telling us it's because silver is going up.
5:09
OK, Silver is going up. Don't trust these people.
5:13
Trust me. Well, trust yourself, trust your
5:17
own judgment. Listen to me, listen to other
5:19
people, listen to Andy Schechtman, listen to Rick Rule,
5:23
listen to Lynette Zang, listen to the Children's News Network,
5:27
listen to all of it. And then you use your own brain.
5:30
OK, That's the best part about us basement dwellers, right?
5:33
You got a brain, and unlike a lot of your fellow Americans,
5:38
you are willing to use it. So congratulations.
5:41
Pat yourself on the back. I also want to tell you thank
5:44
you for joining me today here in the basement.
5:46
Do you want to do something nice?
5:48
Who doesn't want to do something nice?
5:50
Doing nice things feels good. Being nice feels nice, right?
5:54
Please. It would be nice if you gave
5:56
this a thumbs up. Yes, that's my cut that never
5:59
seems to heal. Sorry you had to look at that
6:02
and you can subscribe to the channel.
6:03
And thank you in advance for any super chats that might come
6:06
through. Never expected, always
6:08
appreciated. And let's move on to #2 what
6:13
else is going to make sure I hit everything on that whole US
6:15
Mint? The USI mean they're the US
6:17
Mint. I don't know, Maybe they know
6:19
something. I'm not sure.
6:20
Did you know that silver and gold are trading today?
6:24
I didn't know that, right? And silver was down like $0.25
6:28
earlier today. Let's go over and get an
6:30
up-to-the-minute quote on the both the silver and the gold
6:34
price. So last I checked, silver was
6:37
actually down like $0.21. Let's go here.
6:40
Oh, let's go to OK, only down $0.16 per oz right now as we
6:45
speak. Thank you to our channel sponsor
6:48
Pinbex Pi MB EX. This live stream, our little get
6:53
together basement dwellers, our little party we're having here,
6:56
our 4th of July party would not be possible without the kind
6:59
support of our sponsors, Pinbex. Well, what makes it even better
7:02
is I believe in Pinbex. I bought silver from Pinbex long
7:08
before, well, like maybe six months.
7:10
That's an exaggeration. 6 months before they and I bought the
7:14
silver from them several times before they graciously agreed to
7:20
sponsor Ron's basement. I always found their prices were
7:24
the best, the selection was ample and most importantly, a
7:28
company we can trust. And we're going to talk about
7:30
those type components when we talk about the mistakes.
7:33
All right? Do you, have you made any
7:35
mistakes when you're buying silver or gold?
7:38
We're going to talk about those components later when we dive
7:41
into the list, the exhaustive list that we have.
7:44
You get to hear every mistake that I've ever made.
7:46
And you may have made a few of them yourself as well.
7:49
But I don't think you'll ever make a mistake if you decide to
7:53
give Pembeks a chance next time you are interested in buying
7:58
silver, gold or platinum group metals online, and they can even
8:00
help with IRA conversions, don't forget about that.
8:03
Where were we? Oh yeah, let's go check now.
8:06
Is there a mistake at the Shanghai Gold Exchange?
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A mistake. Let's go check this out 'cause I
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was curious. I was like, I wonder what silver
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did in Shanghai overnight. And here we go, Our friend, the
8:19
Oriental ghost. Well, he, I still haven't met
8:22
him in person or talked to him, but we'll still call him a
8:24
friend 'cause he gives us great information.
8:27
Look, guys, Silver, let me pull this up for you to look at.
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Silver, they say closed at 3314, up 2%, OK, on the Shanghai Gold
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Exchange, Shanghai futures Exchange, $34.22.
8:43
Somebody's texting me crazily. Hopefully it's not one of you
8:47
telling me that, that, that you can't hear me.
8:50
Hopefully you can hear me right now.
8:52
If you can. Thank you again for being here
8:55
in the basement now $33. That seems strange to me.
9:00
Still obviously much higher than we have on the COMEX and the
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LBMA. Let's go get a let's look over
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here. We're at 3333 in the United
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States 30, thirty, $30.33 per oz on silver in the United States,
9:18
$33 and four, so $3 higher. But look at this, I think this
9:23
is a may be a mistake because #1 the Shanghai Gold Exchange price
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is usually higher than the OR a little bit lower than the
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Shanghai Futures Exchange. But if we go down here
9:35
yesterday, silver closed at $34. So we're going to have to find
9:40
out if that was a misprint or what was going on.
9:43
But silver is indeed trading today, tomorrow, tomorrow.
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Are you ready, guys? Are you ready?
9:50
And don't forget, we are going to go through the exhaustive
9:53
list of mistakes you can avoid when buying silver and gold.
9:57
We're going to get there. Towards the end of this live
9:59
stream video, we got a couple more super interesting things to
10:03
talk about. OK, tomorrow's the massive day.
10:06
Tomorrow we get the non farm payroll number.
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I'm telling you, this could be a catalyst.
10:12
Do you agree with me? Do you think, do you feel it
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right? We've talked over and over how
10:17
the summer was going to be probably a very difficult period
10:21
for the silver and gold price. We got a taste, baby, a taste
10:26
yesterday of what could happen, right?
10:28
Silver was up a full dollar per oz.
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Gold was up what, $2530 per oz? We could, I don't and I'm not
10:36
predicting this, but I'm saying it's a much higher chance than
10:39
most anybody is is giving it. If if the if the.
10:43
Here's what we're looking for tomorrow.
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If the jobs at the number of jobs created is lower than
10:49
expectations. You better strap on your belt,
10:52
baby, 'cause it's gonna be feathers are gonna be flying.
10:56
OK? It's gonna be good days for the
10:58
silver. We're gonna put boots on the
11:00
warehouse floor. I don't know how else to say it.
11:04
It's gonna be crazy, right? But seriously, if we get a
11:08
number of jobs created reported tomorrow, lower than expected,
11:14
it, it, it, it's going to be a big day for the metals because
11:17
we've already kind of primed the pump, right?
11:19
The ISM number was bad. Basically what's happening just
11:23
to explain this to you, OK, is that lately we've been getting
11:27
some economic data coming through, which has been a little
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worse than expected. I think they what do they call
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it? Disastronomics?
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No, biodynamics. Biodynamics is running into a
11:38
few problems, and and what that means is the Fed may soon be
11:43
faced with a contracting economy, but everything's fine.
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Remember, that's what they'll tell you.
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That's what they'll lie to you about.
11:50
Everything's great out there. Don't worry.
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Be happy. What's wrong with you,
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Americans? The economy's great.
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As long as you're part of the top 1%, right?
12:02
And you've got $10 million stock portfolio and a bunch of rental
12:06
houses, you're doing great, right?
12:08
They forget about the other 99%. They especially forget about the
12:11
lower 50%. And the lower 50% is dying,
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dying. They're already in a depression.
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OK. So when those, when that data
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starts to get more reflected and it's already beginning in the
12:26
economic data, but in particular the BS, I'm sorry, the BLS, the
12:31
Bureau of Labor and Statistics jobs number, if that number is
12:34
lower than expected, I'm sorry I've gone on so long with this.
12:37
I appreciate you sticking with me.
12:39
But guys, if that number comes in lower than expected, that's
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gonna, it's going to be a catalyst that will start an
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early, OK, early summer rally in the gold market and the silver
12:53
market. And it could be very, very
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interesting. And it kind of makes sense if we
12:57
think about it, because we've talked about this so many times.
13:01
Things are happening right now on a much more extreme think
13:06
about that, right? Things are happening on a much
13:08
more extreme basis and they're happening more quickly, more
13:14
frequently. So the fact that we could have,
13:17
everybody says, oh, September's when the gold price will take
13:19
off. And I'm, I'm guilty, right?
13:21
I'm, I'm, I kind of had that gut feel, right?
13:25
But with the current set of circumstances that we're facing
13:28
right now in this country where everything is extreme, right,
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we're not. We're talking about the
13:33
political situation we're talking about Wait till you see
13:35
the seven second video I'm gonna share with you later that has to
13:40
do with the world leadership. I'll leave it at that.
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But anyway, things are happening much more quickly.
13:46
So we could have a premature, what's the word?
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I'm looking for a premature rally.
13:53
I'll use that word in the silver.
13:56
It could get started early and it could start tomorrow.
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I'll put about a 36 1/2% chance on that happening, right?
14:04
I mean, it's in the interest of Joe Biden in the in the in the,
14:08
in the leaders that be to have a good jobs numbers, tomorrow's
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thing. So look at all these jobs we're
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creating. Everything's great in America.
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Whatever. OK, so we'll leave it at that.
14:19
But tomorrow is the newest, biggest day in the history of
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the universe for the silver and gold price.
14:26
It's the biggest day in the second-half of the year for the
14:30
silver and gold price. So buckle up, buttercup.
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I'm warning you, right? It couldn't go the other way,
14:36
right? We can have a we can have a
14:37
poopathon tomorrow. OK, but you know, the good thing
14:42
there's a lot of good things about you, but one just one of
14:46
the good things about you is you're tough, baby.
14:48
If you've been invested in the silver and gold market for any
14:51
amount of time, man, you've been beat.
14:53
You've been beat like a like AI don't know, you know, a bad dog
14:58
or whatever. I mean, I don't I'm not I I love
15:01
animals. Actually, today's Jasper, our
15:03
cat's birthday. We're going to bring him down
15:05
here, but he's a little camera shy.
15:07
Anyway, you've been beat, OK? And like an abused animal, I
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mean, we really have. We've been abused.
15:13
So no matter what happens tomorrow, we're going to be OK.
15:16
Tomorrow's a massive day. You want to see some?
15:18
I don't know if I can do this or not.
15:20
Stay with me here. There's like a 4 minute video
15:23
about gold in Thailand and gold in India and it had some of the
15:28
most pretty pictures I've ever, ever seen of gold and silver.
15:34
I'm going to see if I can pull it up for you quickly here guys.
15:38
This is on why on? Leave a comment if you can hear
15:52
it. Tell me if you can hear what
15:53
she's saying. Uh huh.
15:56
Going into real tangible Shanghai.
16:00
Can you guys hear me or hear that?
16:04
Hello. Hello.
16:16
Look at all these pretty pictures.
16:17
Look at the dollars flying by. I hope you guys can hear me.
16:24
There's some really pretty gold pictures in this.
16:28
Look at these people buying gold.
16:29
And I think I saw a coin shop, Chris, in one of these.
16:32
Citizens rushed to buy gold and the currency was record high
16:36
prices driven by global economic uncertainty.
16:40
Look, all gold. Gold.
16:50
Look at all that gold. There's one picture though, that
16:53
I love. It's coming up.
16:59
Singapore, Thailand, Vietnam, China.
17:05
Look at those people. That's called a bucket shop.
17:08
They're in their gambling on the stock market.
17:10
Look at all that gold. Wait till you see this one
17:13
picture, though. Look at that.
17:14
I like that one. That's not my favorite.
17:18
Hold on here. Look at all that gold.
17:22
I think. I think that one's yours.
17:28
All right, here it comes. Look at that.
17:30
I love. I mean, my God, I think those
17:32
are there. That's the one I love.
17:33
That's what I want for my birthday.
17:35
By the way, when Look at that gold boat.
17:40
Look at that thing. Isn't that beautiful?
17:43
OK, none of that. Hopefully you guys could could
17:47
hear that. OK could let me know if you
17:49
could if you could hear that I'm still working my way through the
17:52
technology here. Looks like we're still live.
17:56
Hello. Hello.
17:57
OK. And now next we are going to
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talk about the big mistakes that people made after OK, This is
18:04
this is just a absolute crazy video.
18:07
OK, 4th of July. I'm quickly want to share this
18:11
with you. Happy 4th of July, my fellow
18:13
basement dwellers. I'm not seeing any comments
18:15
coming through. Oh, here we go.
18:17
Hold on. Here.
18:18
We couldn't hear. Oh, shoot, I'm sorry.
18:21
Anything but you. OK, thank you, Alvin.
18:23
I'll fix that next time. All right, but you saw those
18:25
pretty gold pictures and what they were saying is unbelievable
18:29
gold demand and silver, by the way, in Asia, in Thailand, in
18:35
Vietnam, in China, everywhere. Guys, it's crazy, OK?
18:40
And and I'm not and we talk about this every other day.
18:43
But if we need to talk about this because it's so critical,
18:46
we're asleep in America that we don't feel it here, right?
18:49
Because because we don't have crazy gold, but everywhere else
18:53
in the world, in the world is bigger.
18:56
There's more people over there than we have in the United
18:58
States. And those people are becoming
19:01
wealthier and wealthier and wealthier.
19:03
And I think we couldn't, we make the argument they're becoming
19:06
even more wealthy because because they're buying gold and
19:10
silver as well. I mean, it's crazy.
19:13
It is going to catch up here. It will come on here.
19:15
And when it does come on here, Americans will be too late.
19:18
You won't be too late, but your general Americans will be too
19:22
late. Tomorrow's the massive day.
19:24
We're talked about that. We're going to talk about the
19:25
big mistakes that you need to avoid when buying gold and
19:28
silver. Today's the 4th of July.
19:30
I just want to touch on the fact that that's great.
19:33
It's American holiday. I'm an American.
19:36
I consider myself to be very patriotic, right?
19:39
But I will tell you, your founding fathers are rolling
19:42
over in their grave right now with what is going on in this
19:47
country. The founding fathers set up a
19:50
system that would, that would ideally provide a fair level
19:55
playing field for everyone in this country.
19:57
They set up a system where gold and silver were the real money
20:02
of the land, right? And it worked for a many, many,
20:06
many years. No doubt about that, huh?
20:09
They are rolling over in their graves right now with what this
20:13
country has become. Because you right if you unless
20:16
you're one of the one of the top 1%, one of the top. 2% in this
20:21
country, you're like me, you, we, you've had the screws put to
20:24
you by the government, right? They've developed, they
20:27
basically built a country built off of debt.
20:30
Debt serves right, debt, right, debt slavery, OK #1 so they
20:35
really stuck it to the average American.
20:39
But on top of that, they've stuck it to a lot of different
20:42
countries in the world. And like we just saw with
20:45
countries like Vietnam and Thailand, they are they're
20:48
getting fed up. We know what's going on with the
20:50
bricks and there's major developments going on with the
20:54
bricks countries working together.
20:56
Here's AI want to show you. And then I want to show you a 7
20:59
second video. It's unbelievable.
21:02
There's something happens at the end of this video that's really
21:07
sad and funny at the same time. But let me pull this up and
21:10
we're just going to give you a quick rundown of what's going on
21:14
in the world. Vladimir Putin, the president of
21:17
Russia and President Xi from China meet again, OK.
21:23
They had their second meeting in in two months.
21:26
Their their, their plot countering the US while the
21:28
White House is consumed with a crisis of Biden's decline says
21:33
in their second face to face meeting in as many months,
21:36
President Vladimir Putin told his Chinese counterpart Xi
21:39
Jinping that Russian Chinese. Listen to this Russian Chinese
21:44
relations of comprehensive partnership and strategic
21:47
cooperation are in the best period of their history.
21:53
Russian state media subsequently likened it to the golden age of
21:57
relations. OK, I'll just read this next
22:01
paragraph because I think it, it says a lot.
22:04
The two are meeting once again at the annual session of the
22:07
Shanghai Cooperation Organization.
22:09
The SCO. That's the big Chinese.
22:12
It's kind of like a bricks type thing where they work with other
22:15
countries and cooperate, right? The word cooperates in there,
22:18
which runs Wednesday through Thursday in the Kazakh capital
22:22
of Astana. Quote, Russia, China relations
22:25
are at the are on the highest level in history and they are
22:29
not aimed against anyone. We do not create blocks or
22:34
unions. We just act in the interest of
22:37
our nations, Russian President Vladimir Putin stressed.
22:41
Now, look at this down here. I want to show you this quick
22:43
video, which, of course, won't have audio, but that's OK.
22:46
OK. I want you to watch this video.
22:48
Let me see if I can expand it. If I don't screw anything up,
22:52
All right, OK. I want you to.
22:54
And I want you to watch what happens at the end of this
22:57
video. I shake hands.
23:04
Look what? They knew where to go.
23:06
They knew where to walk. They didn't stare into space or
23:13
wander around aimlessly. Look at the They knew where to
23:18
walk. Oh my gosh, unbelievable.
23:21
So guys, it's really, this is not a political show, but it's
23:26
really scary when you look at those two world leaders and them
23:31
working together. And then and then you look at
23:35
what what the the leadership that we have in our country
23:38
right now. And like the article said,
23:42
they're licking their chops. So let's hope that that America
23:48
finds its way and that our founding fathers maybe a decade
23:53
from now are looking at a country that they're that
23:55
they're proud of. Vincent, thank you for the Super
23:57
chat. Thank you.
23:58
Wow, thank you. All right, guys, if you ever
24:01
made any mistakes buying silver or gold, I put together an
24:04
exhaustive list we're going to run through quickly and I'll
24:07
share with you the mistakes I've made.
24:09
Cause I've made plenty of mistakes.
24:11
I continue to make plenty of mistakes, but we can learn from
24:15
each other and let's put up our banner to say thank you.
24:19
Thank you to the first mining gold and thank you to Fortuna
24:25
mining for sponsoring the channel.
24:27
All right guys, I got it all color-coded and ready to go for
24:30
you. Let's get up to the top though.
24:32
Here we go warning silver stackers avoid these.
24:36
These are the mistakes that you can avoid.
24:38
These are things that, and this is just my opinion, I'm not
24:41
giving financial advice, but I will share with you some strong
24:45
feelings I have and, and maybe some mistakes that I made #1
24:49
buying numismatic coins when you don't know what you're doing.
24:52
Numismatic coins are great. I have nothing against them.
24:56
If you know what you're doing, there's a big opportunity for
25:00
people like me, right? That's me.
25:03
I'll raise my hand that don't know what they're doing with
25:05
numismatic coins to get ripped off.
25:08
And you do hear from time to time some of the unsavory
25:12
characters out there, especially with elderly people who will
25:15
sell them vastly overpriced gold or silver coins for things.
25:22
And it's very sad situation. So if you don't know what you're
25:25
doing with numismatic coins, I would either recommend you don't
25:28
touch them or that you educate yourself.
25:31
One of the two buying too many novelty silver items.
25:35
Here we go. I'll show you one that I bought
25:37
guys. Where is it?
25:39
Here it is. This 3 oz Silver Heart.
25:44
It's cool, isn't it? I love it.
25:47
It's absolutely beautiful. I bought it for Susie for
25:49
Valentine's Day. I think the argument could be
25:51
made that maybe since I've got it down here in the basement, I
25:54
bought it for myself and at the time I think silver was 22 bucks
25:58
an ounce, 23 bucks an ounce and I pay like $90.00 for it.
26:01
OK, which in today's silver price is good.
26:04
But you know, I'm not against buying novelty Star Wars coins
26:09
or whatever, you know, little silver statues.
26:12
That's awesome, don't get me wrong, Right.
26:14
But don't make it a a cornerstone of a silver or gold
26:19
for that matter, stacking strategy.
26:22
OK, buying. Hold on here, we're still on the
26:25
orange stuff buying fake coins, OK, There are fakes out there.
26:30
There's Chinese websites I've seen there's I think even on
26:33
eBay I've heard that people have had bad experiences from time to
26:36
time. So you want to make sure that
26:38
you're buying from a dealer you can trust.
26:40
I trust Pimbex. There's other obviously
26:44
reputable big name brand online bullion dealers out there for
26:48
me, if I buy something from Pimbex, I know that I'm dealing
26:52
with a company that I can trust. I know that there's procedures
26:57
in place to make sure that what I'm buying is real and
27:00
legitimate. So be make sure you're dealing
27:03
whoever you deal with, make sure you're dealing with someone you
27:06
can trust, right? Buying milk spotted coins or
27:11
coins. I think I was supposed to say
27:14
prone, prone to milk spotting like me.
27:17
OK, so I am the king of milk spotted coins.
27:20
OK, I don't know why, but for some reason, if it could not
27:24
have milk spots, I bought it. Here's one I'll show you what I
27:26
mean. Milk spots were a problem.
27:29
I think it's been rectified by the major mints around the
27:32
world, but it happens to some of I think it happened some
27:35
American Silver Eagles. It happened to a lot of the
27:38
Canadian coins. OK, here's one I'll show you.
27:41
This is 1/2 ounce. Let's see what the year is here.
27:45
It was a Space Space Force coin or something 2015 All right and
27:51
to see if you can see on I don't know how good the camera will
27:55
focus in, but if you if you can, yeah, it's not there.
27:59
You can kind of see at the top of her head there's a white it
28:03
looks like cloudy like milk. There you go.
28:05
You can probably see a pretty good there.
28:08
So you want to be careful about that as well.
28:10
Milk spotting does not affect the the value of the silver
28:15
that's in the coins, but it does affect at this point the
28:18
numismatic value. Now I have this theory, maybe
28:21
I'm wishful thinking because I own so many milk spotted coins,
28:24
but I have this theory that maybe 30-40 years from now,
28:27
those Milk spotted coins might actually be at a big premium,
28:30
kind of like, oh, thank you for the Super chat there.
28:34
Hold on here, let's get back. Here we go.
28:39
Thank you. OK, that that at some point in
28:42
the future, Milk Scott, Milk spotted coins may actually sell
28:46
for a big premium, kind of like stamp collecting or even a lot
28:49
of the coin collecting coins that have errors on them are
28:52
often times more valuable. I could be dead wrong, right?
28:56
But I do I do have this little sneaking suspicion that milk
28:59
spotted coins could at some point actually be sold at a
29:03
premium. Probably wrong.
29:05
OK, OK, buying everything at one time, you need the dollar cost
29:09
average. Don't like watch one of my
29:11
videos or somebody else's and be like, Oh my God, I got to get
29:14
into silver and taking everything you have in buying
29:17
silver, you know, it could work out for you, but it could also
29:21
be a big disaster. So I always recommend dollar
29:24
cost averaging over time. I did that over like a 15 year,
29:27
18 year period, OK, buying with a credit card, avoid debt.
29:32
OK, Generally, you're going to get a much better price on
29:35
silver or gold if you use cash or you use an ACH transfer
29:41
directly from your bank account. Most places will charge you a
29:44
two or three percent premium on top of the other premium you're
29:48
paying to pay with a credit card.
29:50
What you absolutely do not want to do is go into debt,
29:55
especially credit card debt, to buy silver.
29:58
Now I've heard people say, oh, I'm going to rack up my credit
30:00
cards and buy silver and when the dollar collapses and blah,
30:03
blah, blah, well, that's a long shot baby.
30:06
And the other thing to remember about credit card debt is that
30:09
is the rates are adjustable. So if we did have a major
30:13
currency crisis, who knows how high they could Jack up the
30:16
rates. Don't use credit cards to buy
30:18
silver, OK, Buying with money that you will need to use in the
30:23
near term horizon, the spreads will kill you.
30:25
What I mean by that is don't go, you know, if you know, you got
30:28
to make your mortgage payment in two weeks for $2000 and you've
30:33
got $2000 in your checking account, don't go buy silver
30:38
thinking that you're going to sell it back in two weeks and
30:40
make a profit and, and still be able to pay off your mortgage.
30:43
There's spreads between where any 'cause these are, these are
30:47
businesses, coin shops, online bullion dealers, their
30:50
businesses, they buy, they buy lower and they sell higher.
30:54
So you'll get killed on the spread paying too high of a
30:57
premium. Let's see if I can get this down
31:00
here in yellow. OK, not shopping around again,
31:04
right? You want to shop around, compare
31:06
prices. I always recommend they are a
31:10
channel sponsor and also a company I've had great
31:12
experience with. You know, I always check around
31:16
before I buy anything. And what I recommend also is
31:20
checking out Pinbex when you're shopping around, see who has the
31:23
best price on the product. But you want to make sure first
31:26
and foremost that you're getting it again, like we talked about
31:29
earlier from a company that you can trust, only buying when the
31:33
price is skyrocketing. Look, silver in particular, the
31:37
would probably, you could say this about gold as well, are the
31:40
ultimate FOMO investments. I talked to coin shop Chris last
31:44
night and he said, Oh my God, it was yesterday.
31:45
Silver went up a dollar and he was like, it was crazy at the
31:49
coin shop. He's like, I don't understand
31:50
why these people do this, right? Like the price shoots up and
31:55
people decide to buy silver. I always say buy silver on, on a
31:59
day when it's down that way, you know, right, like if silver
32:03
goes, let's say Friday, I, I don't think this is going to
32:05
happen. Basement dwellers don't don't.
32:07
But let's say Friday, the price of silver, let's say the jobs
32:10
Bidenomics creates a half a million jobs, way more.
32:14
I think there's 185,000 is the expectation for tomorrow.
32:18
Let's say the number comes in at 400,000.
32:20
Joe's like it's Bidenomics, it's working and and silver goes down
32:25
$1.75. Oh my gosh, It'd be horrible,
32:28
right? Well, if you bought silver, then
32:30
you could always, if you buy it on a day when it's down, you can
32:32
at least say I got a better deal than I would have gotten the day
32:35
before. Let me get back to the
32:38
exhaustive list we're going through here.
32:42
Yeah. So people generally buy silver
32:44
on the way up, right. I don't know why, I don't know
32:48
why, but if you dollar cost average and you set a forced
32:51
date like on the last day of the month or the last day of the
32:55
quarter or on my birthday every year or whatever it might be,
32:59
right. Whatever works.
33:00
At least then you're, you're taking the guessing out of it.
33:02
Not buying. Here's the other side of the
33:04
coin, not buying silver or gold because you think the price will
33:08
drop, right? Saying oh, I'm not, I'll buy
33:10
silver if it, if it or gold, I'll buy, I'll use silver.
33:14
I'll buy silver if it goes to 22 of $25.00 an ounce or I'll buy
33:17
it if it goes back to $16.00 an ounce or whatever the case may
33:20
be, you may never get the opportunity to buy it right.
33:25
And again, it goes back to dollar cost averaging and being
33:29
prudent with the amount of money that you put into it.
33:33
Coin Shop Chris always brings up this one.
33:36
So I'm gonna give him credit. By the way, Coin Shop Chris has
33:38
his own channel. You can go to the YouTube search
33:42
bar, Coin Shop Chris. OK, He's working really hard
33:45
putting out some great content. So please support our friend
33:48
Coin Shop Chris. But he always says don't compare
33:50
your stack to anyone else's but your own, right?
33:53
Focus on what you have. Focus on what you're doing.
33:56
You know, row your own boat, don't you?
33:58
There's always going to be somebody out there who's got
34:00
more silver, more gold than you do.
34:03
Just, you know, focus on what you're doing.
34:05
Dollar cost, average, everything will be OK.
34:07
Having too much or too little of your net worth invested in
34:11
precious metals, right? Look, I'm not a financial
34:13
advisor. I'm not giving financial advice.
34:15
But I think if somebody tells me I have every penny that I own in
34:19
gold or every penny that I own in silver, that could work out
34:23
great, right? But there is, you know, I mean,
34:26
me personally, I would think overall, if I compare, you know,
34:33
mining stocks that I own, 'cause I consider that to be a form of
34:36
precious metal investment and physical, you know, we're
34:40
probably at 3040%, something like that.
34:43
I'm definitely invested, right? When I'm talking about silver
34:46
and gold, you can rest assured I'm eating my own cooking.
34:51
Let's just say my mood generally goes up on days when when
34:56
silver's up a dollar per oz. OK, but don't put everything you
35:00
own into precious metals. That's just my opinion.
35:03
Avoid the Unicorn fart dust silver and gold, right?
35:08
The ETFs, the USETS, the SLV, and the GLD.
35:12
Do your own due diligence, but there's many people who've dug
35:16
into these silver and gold ETFs and cast a degree of suspicion
35:22
over how much actual physical metal they actually hold.
35:27
So you can dig into that one for yourself.
35:28
I do know that a lot of people who I respect, and I will tell
35:33
you it's my belief, personal belief as well, that if if I'm
35:37
going to buy a physical gold or silver ETF, I'll buy one of the
35:41
Sprott products. They're called trust.
35:45
I think that it's the PSLV and I forget the name of the gold one,
35:50
but they're they're by the Sprat company out of Canada and they
35:53
are very transparent and, and I believe 100% just my personal
35:58
belief that they do actually hold all of the physical metal.
36:02
Dunn Green. Don't waste your time telling
36:05
your friends and family about your stacking or trying to
36:09
convince them. You will drive yourself crazy.
36:12
OK, Let them come to you. It's that old piece of sage life
36:18
advice, right? Like, like only give people help
36:21
when they ask for help. Don't, don't go out trying to
36:23
don't, don't try to rescue everybody, you know, right.
36:27
Like, I never talk about silver, gold with my family, my friends,
36:31
right? I figure if they're interested,
36:33
they can come to me. They can talk, you know, they
36:35
know obviously, that I'm into silver and gold.
36:38
If they're interested, they can come to me, right?
36:40
You'll drive yourself crazy. It's not our job, right?
36:43
We're, we're, we put the, we put the food out there, right?
36:47
It's up to the horses or the sheep.
36:52
We put the sheep food out there. It's up to the sheep to come eat
36:55
it, right? And they will eventually, trust
36:57
me. There's going to be a day when
36:58
you're, when you're, when you're very popular with your friends
37:01
and family, in my opinion, because of your knowledge of the
37:05
silver and golds. Think about your medals in terms
37:07
of Oz that's in green, right? That's one of the hardest ones,
37:11
guys. You know, it's we, we all get
37:13
caught up in what's the price of gold, what's the price of silver
37:16
measured in U.S. dollars? And it's not, it's not the, the,
37:21
the dollar value when the, when the quote UN quote, price of
37:26
silver goes up, it's not silver going up.
37:29
It's the value of the dollar going down.
37:32
OK. And that's just one of the
37:34
comparisons. You can think about an ounce of
37:35
silver versus gasoline. How many gallons of gasoline can
37:39
I get for an ounce of silver? I don't know.
37:41
In Saint Louis right now, probably about 8 gallons of
37:43
gasoline, right? Think about silver in terms of
37:48
coin shop. Chris and I met the first e-mail
37:50
he ever sent me was a picture of lettuce, iceberg lettuce, at his
37:54
local grocery store. It was $5 each and silver was
37:57
about 20 bucks. He said would you trade an ounce
37:59
of silver for four heads of lettuce?
38:02
And I was like, heck no, Heck no.
38:07
You know, I might trade an ounce of silver for 200 heads of
38:11
lettuce. You know, when, when the when
38:13
the real value materializes. So think of your ounces in terms
38:17
of just that oz, OK? Because trust me, those oz that
38:21
you have were valuable long before, thousands of years
38:26
before they were ever even thought about being measured.
38:29
Nobody even knew what a dollar was back then, 500 years ago.
38:33
You know, go back, go back 600 years and, and pay a little
38:37
visit to your great, great, great, great, great, great,
38:39
great, great, great, great to the 18th degree grandpa, because
38:42
you got one. You're right.
38:43
We had some caveman type, you know, and he wasn't a caveman.
38:47
But you know what I'm saying? You had some old man, right, 600
38:51
years ago that that was your grandpa or your blood relative.
38:55
And go back and ask him, right? Show him a paper dollar or a or
38:58
a or a chunk of silver. I think he'll take the chunk of
39:01
silver. OK, don't get arrogant.
39:03
This might not work out for us, right?
39:06
Don't think that it's an absolute sure thing.
39:09
I feel like it is. But I also realize, right that
39:12
that maybe we could be wrong, right?
39:14
I can't see a situation. I can't see a situation where we
39:20
really are in where like the silver that you own, can you do
39:26
you, can you even imagine that like a situation unfolding in
39:29
the future where silver that you own is not really worth
39:32
anything? I mean, it just doesn't or gold
39:35
or platinum or whatever the metal, your medal of choice.
39:39
I almost said you're drug of choice, but your medal of
39:41
choice, maybe I, I, I can't see that.
39:44
To me, it's a total asymmetric opportunity.
39:47
Asymmetric meaning the opportunity for growth on the
39:50
upside far outweighs the downside risk.
39:54
Could we get $25 silver right in the next six weeks?
39:57
Absolutely. Guys, we got to be real.
40:00
It could happen, right? Could we get $20 silver?
40:03
Absolutely. It could happen.
40:06
But I think the upside opportunity.
40:08
Right is far outweighs any of the downside risk when we're
40:13
talking about the precious metals.
40:15
OK, the other thing I'll say is don't brag right.
40:18
Don't don't run around you. You want to keep your metals
40:21
safe and secure. I keep the vast majority of mine
40:24
at an off site secured location. But you know, you don't want to
40:27
brag to your about how much gold you have or how much silver you
40:31
may or may not have. That's generally not a good
40:34
idea. You know, it's an inside job.
40:36
No, you know, on the inside what you have.
40:39
Hold on to it, OK? And and and know that what
40:44
you're doing is smart and good. All right, guys.
40:46
Hey, thank you for being here. It's a big deal when you join me
40:49
in the basement again. If you want to do something
40:51
nice, give this a thumbs up. Thank you for the Super chat.
40:55
That was awesome. Make sure I didn't miss
40:58
anything, I don't think. Yeah, Vincent.
41:00
Thank you. Vincent.
41:01
Did I miss another one? I don't know, but thank you for
41:04
the Super chat, guys. Thank you for being here.
41:07
Happy 4th of July. All right, I'll plan on hopping
41:10
back on here. Tomorrow's the big day, right?
41:12
We're going to have massive, massive news tomorrow with this
41:16
jobs number. You know what?
41:17
Let's run out real quick. Oh, you know what we didn't do?
41:20
Basement dwellers? I didn't.
41:21
I don't think I rang the bell. I don't know.
41:23
Where's Susie? Susie's slept late this morning,
41:26
but let me ring the bell, huh? For you #1 let's go out.
41:32
We need to do an update. Look that this is live.
41:35
Let's go out and do an update on the silver price.
41:37
Let's go out to our friends at Pen Backs.
41:39
We were down 16 cents. Let's update this.
41:43
Take a deep breath. It could be down $0.40, could be
41:46
down 30 cents. Oh, Betsy, only down a penny.
41:52
All right, that's good news. That is really good news.
41:57
And there, oh, I want to take a look also here.
42:00
Let's go double check. This is the Fendiz economic
42:04
calendar. This is the big day, the big
42:06
news for tomorrow. Let's go down here and make sure
42:11
we got you guys on there. Yes, we do, man.
42:14
We are just moving. We are going all over the
42:16
Internet. We don't want to watch an ad.
42:20
So if we go down to Friday, there it is right there, 8:30
42:26
tomorrow Eastern Time, we will get the non farm payrolls
42:31
number. This is the biggest piece of
42:32
news for silver and gold that we will that we've had in the
42:37
second-half of 2024. This is the biggest piece of
42:40
news that we've had in the history of the universe for
42:45
silver and gold 'cause this could really, really catalyze a
42:49
major move in the metals. Again, I think it's asymmetric.
42:53
I think the potential for a big up move is much greater than the
42:57
potential for a down move in the metals.
42:59
But the expected number of jobs tomorrow's 185,000 the prior
43:05
week, I'm sorry, prior month, so that'll be the number of jobs
43:08
created in June was 272. Again, guys, if this number
43:13
comes in lower than that expectation, I'm not banking on
43:19
it. But I think, like I said, I
43:20
think there's this like 34.6% chance, or did I say 36.4?
43:24
Anyway, that is going to mean with everything else that's kind
43:29
of came together over the last week, including Jeremy Powell in
43:33
Portugal speaking kind of dovishly, right, about what's
43:39
going on. And think about it right as
43:40
we're heading into this, we're really getting into the meat of
43:44
the presidential election season.
43:49
It could catalyze a major move. So, hey, thanks for being here.
43:52
All right, tomorrow's going to be exciting.
43:54
We'll make it through. Have a great day.
43:56
Have a great 4th and I'll see you soon.