Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **They SAID It!** Clock Ticking on Silver and Gold Price - Precious Metals UPDATE

Transcript

**They SAID It!** Clock Ticking on Silver and Gold Price - Precious Metals UPDATE · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  We have much brighter days ahead for silver and gold and there
• 0:05
  are a lot of reasons why we got a ton to cover in this video.
• 0:09
  First, I want to say thank you for being here.
• 0:11
  Thanks for being part of Ron's basement.
• 0:13
  I'm a little sick today, so I apologize for my voice, but if
• 0:16
  you could give me some sympathy and maybe subscribe to the
• 0:19
  channel, that would make upstairs Susie very happy.
• 0:23
  We want you to come back. We want you to be part of this
• 0:26
  community because there is so much going on.
• 0:28
  We got a ton to cover. Let's start with what happened
• 0:31
  yesterday. Jerome Powell, our old friend
• 0:34
  here he is, right? Jerome Powell in the Federal
• 0:37
  Reserve basically did this yesterday.
• 0:40
  Announced money printing. Yeah, sure, he cut rates by 1/4
• 0:46
  point you to you. Big deal, right?
• 0:49
  But he also signaled the end of QT, which is quantitative
• 0:53
  tightening. Hold on having some tech issues,
• 0:57
  which essentially when you quit QT, that's kind of like QE, OK?
• 1:02
  When you compare what we've been going through with quantitative
• 1:04
  tightening, now that that will be ending, I would say that
• 1:08
  that's kind of like announcing quantitative easing, which could
• 1:11
  probably be the next logical approach.
• 1:13
  But the big key take away here is lower interest rates, less QT
• 1:19
  Doing that in an environment with high inflation, OK, unless
• 1:23
  you believe the Bureau of Labor and Statistics, it is a recipe
• 1:27
  for much, much, much higher. We got the wind in our sails,
• 1:32
  baby, if you're invested in gold, silver and precious metal
• 1:35
  mining stock. So we're not going to spend any
• 1:37
  more time on that. We're going to look at some
• 1:39
  other incredible data about what's going on in both silver
• 1:43
  and gold because it just never ends.
• 1:46
  You know what we need to do? We need to go out and check on
• 1:48
  the silver and gold price because last I checked, it was
• 1:52
  putting a little bit of a smile on our face.
• 1:56
  Hold on, guys, we're going to get there.
• 1:59
  We're going to get there. Let's go out to Google.
• 2:01
  We'll do this together. Let's go to the Kitco Spot gold
• 2:07
  and silver price. Excuse me, I do apologize for my
• 2:12
  voice instrument not working properly today.
• 2:15
  And wow, look at that. Gold and the spot market up $68,
• 2:21
  silver up $1.20, flirting with 49 dollars.
• 2:26
  Look, I wouldn't be surprised and actually I wouldn't be.
• 2:29
  Don't get mad, don't throw eggs at me.
• 2:32
  If we go through a period where we have some consolidation in
• 2:35
  the metals prices, silver between 4645 and $50 per oz
• 2:41
  gold, you know, maybe stays in the 3800 to 4200 range.
• 2:46
  That would actually be healthy and build a new foundation.
• 2:50
  We want all the wimps to get out.
• 2:51
  All the people that bought in the last six months are like,
• 2:54
  oh, it's not going up anymore, bye bye, OK.
• 2:58
  And we want those people to be replaced by solid stackers,
• 3:02
  people that really know and believe in the future of silver
• 3:06
  and gold. How about if I told you there's
• 3:08
  one new technological advance coming that could indeed eat up
• 3:14
  all the silver that's produced in the world on an annual basis?
• 3:19
  Let's go out to the Silver Academy.
• 3:20
  They did some back of the napkin figuring in the headline here.
• 3:26
  Massive silver demand looms. The two largest, largest uses
• 3:30
  not reflected in prices and what he's talking about.
• 3:34
  That's the basic data that you know, right now we're using 1.2
• 3:38
  billion oz. We only mine 800 million.
• 3:40
  There is a silver deficit, of course, but if we go down here
• 3:45
  further, this is the silver battery bombshell.
• 3:48
  What he's talking about are the solid-state batteries, and we'll
• 3:53
  come back up to this chart next. Let's just read this.
• 3:55
  The real shock is only beginning.
• 3:57
  Samsung's solid-state silver battery technology is now
• 4:01
  approaching mass production. Each electric vehicle utilizing
• 4:06
  a Samsung battery could require about 1 kilogram of silver, an
• 4:12
  astonishing figure when more than 21 million electric
• 4:16
  vehicles are built every year. So supposedly the solid-state
• 4:20
  batteries, they charge much faster, they're less of a fire
• 4:23
  hazard. They they hold their charge, you
• 4:26
  can get like twice as many miles out of it.
• 4:29
  There are real benefits. I've heard that Toyota in their
• 4:33
  Lexus brand are going to be the first to roll them out.
• 4:36
  So this is a real thing and this really could be happening.
• 4:39
  But then he applied some, some basic, sorry guys, I had a cough
• 4:51
  attack. Bear with me here.
• 4:53
  Some basic math to what's going on.
• 4:56
  And if there's broad adoption, 80% of market share, EV
• 5:01
  batteries alone would require between 750 million oz and 1
• 5:07
  billion oz. Silver's scarcity will not be a
• 5:11
  headline. It will be a hard cap on
• 5:14
  industrial innovation. And what we're looking at up
• 5:17
  here on this chart shows just some rough projections, right?
• 5:21
  If there's 21 million cars produced, let me get the crayons
• 5:25
  out here, in 2026, that would use 751 million oz.
• 5:33
  If we go to 2028 and let's say there's 25,000,000 EVs produced,
• 5:40
  that would be 881,000,000 ounces of silver.
• 5:44
  That would indeed heat up the entire mining output because
• 5:50
  mining output peaked back in 2016.
• 5:54
  OK, our friends at the LBMA had some interesting There was a big
• 5:58
  LBMA conference, the London Billion Market Association,
• 6:02
  right over there in London, England, where they deal with
• 6:05
  physical metal, right? I got the funniest thing ever.
• 6:09
  We're going to get to here in a second, but we got a prediction
• 6:12
  of $60.00 per oz silver out of the LBMA conference.
• 6:16
  And even more stunning is what we heard from UBS.
• 6:19
  Before we do that, I do want to say thank you to channel sponsor
• 6:23
  First Met. There is Silver Mint located in
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  Las Vegas, NV, owned by First Majestic Silver, Keith
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  So First Majestic mines the silver in Mexico, ships it to
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  This is a silver bar from First Met.
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  It's upstairs, Susie's favorite. The silver literally goes from
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  the ground from the mine to the meant to you.
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  They've got great prices, all original products, super high
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  quality, free shipping on orders over $299.
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  And when you're there, make sure you go through and try to find
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  children of fallen and disabled members of the first responder
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  and military communities. Again, free shipping over $299
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  and there's a discount code VIPRB, like very important
• 7:27
  person VIPRB, Ron's basement. OK, thank you, First Mint for
• 7:32
  sponsoring the content and for allowing us to get together down
• 7:36
  here as basement dwellers. Don't forget to subscribe.
• 7:38
  OK? I won't say it again.
• 7:39
  Let's go to the UBS report and see what we're heard from UBS.
• 7:44
  This comes from metals and miners, and what we are seeing
• 7:49
  here is UBS. Let's talk about UBS First
• 7:51
  Massive Investment Bank, their chief investment officer, said
• 7:56
  the client gold holdings have doubled and the number of
• 8:00
  clients adding gold has gone up by three times.
• 8:04
  That's a big deal because this is the big Swiss bank, the big
• 8:08
  Swiss investment bank, and we're hearing about more people being
• 8:12
  interested in gold. People being interested in gold
• 8:14
  is also good for silver, those of you that are hardcore silver
• 8:18
  stackers, but this shows us institutional adoption and it's
• 8:25
  happening right now. Now, the LBMA, this was an LBMA
• 8:28
  conference. Let's just read this and yellow
• 8:31
  that. The LBMA Global Precious Metals
• 8:34
  Conference has just delivered an important and not to be
• 8:38
  overlooked message for those following the precious metals
• 8:41
  cycle today. Here we go.
• 8:43
  Dwayne Gordon, managing director and chief investment officer at
• 8:47
  UBS Bank, quietly dropped a critical piece of information
• 8:52
  that signals the magnitude of institutional banking's pivot
• 8:56
  toward gold. Client gold holdings doubled
• 8:59
  this year, while the number of clients investing in gold has
• 9:02
  tripled in yellow. When the world's largest wealth
• 9:07
  management firm begins reporting doubled allocations and tripled
• 9:11
  participation rate, it creates competitive pressure that forces
• 9:18
  other institutions to offer similar opportunities to their
• 9:21
  own clients. It's like trying to drain Hoover
• 9:24
  Dam with a garden hose. According to Doug Casey, the
• 9:28
  LBMA conference, and this is the interesting thing.
• 9:30
  Here we go. Then they had like a poll of all
• 9:33
  the people there, the big investment bankers.
• 9:36
  The LBMA London Bullion Market Association conference consensus
• 9:40
  of $5000 gold and $60.00 silver by Q4200026 isn't speculation.
• 9:50
  It's institutional banking leadership that is guiding the
• 9:54
  path forward. The upward trend is not only
• 9:57
  intact, it will continue onward. Speaking of which, let's go out
• 10:02
  to our next story. OK, foreign central banks from
• 10:06
  bar chart on X Foreign central banks now own more gold than
• 10:11
  U.S. Treasuries for the first time in
• 10:14
  30 years. I think this came from Crescat
• 10:17
  Capital, but what a beautiful chart, guys.
• 10:20
  As you can see, the yellow line right here are gold holdings,
• 10:26
  which what, starting in 1980, went down, down, down, while the
• 10:30
  blue line are U.S. Treasury holdings, which had
• 10:34
  gone up, up, up, OK, Now right over here, which they've got
• 10:38
  circled in white and I'm going to carefully trace in red.
• 10:42
  Sorry, Tava Tavi. Now we are at this point, guys,
• 10:47
  we're right here. You can see it.
• 10:49
  OK? Gold is now a bigger asset on
• 10:52
  the balance sheets of foreign central banks than U.S.
• 10:55
  Treasuries. We are in a new paradigm.
• 10:59
  And how about the funniest thing?
• 11:02
  We like to laugh, right? We got to laugh.
• 11:05
  We've been laughing for years when our neighbors, who we like
• 11:08
  to call the sheeple, were laughing at us.
• 11:13
  Now we're laughing. But Vince Lancy, who I've talked
• 11:16
  to before, it's been a while. Great guy, well respected.
• 11:20
  He put out something that I think is one of the funniest
• 11:22
  tweets of the year so far. Get a load of this guys here.
• 11:28
  I'll highlight it in blue for us.
• 11:31
  The LBMA, this is according to the LBMA, China and India are
• 11:36
  manipulating the gold price by buying it and taking delivery.
• 11:43
  I I think he'd say the same thing about silver.
• 11:46
  So the LBMA is mad, right, that China and India are, are
• 11:50
  actually buying gold. They're manipulating the price
• 11:52
  by when they buy gold, actually saying, well, yeah, we actually
• 11:55
  want it. I'll tell you what guys, the
• 11:59
  market, this is what I'm hearing.
• 12:01
  I got some some on the ground information for you from the
• 12:04
  coin stores. But what I'm hearing when it
• 12:07
  comes to this big kind of world paper electronic gold and silver
• 12:12
  market is that they've kind of papered over things, pardon the
• 12:15
  pun, for the next couple months and that when we get into late
• 12:19
  December, the things could get very, very interesting again.
• 12:23
  Like I said earlier, I wouldn't be upset to see like a period of
• 12:26
  consolidation validation right now, but the problem really has
• 12:30
  not been permanently fixed. All this silver that was going
• 12:34
  from China and from the COMEX in the United States over to the
• 12:38
  LBMA, there was a serious problem over there and it's been
• 12:41
  papered over essentially. Maybe there was some real metal
• 12:45
  that went, but the underlying fact still remains that there's
• 12:49
  big, big issues out there. And it's going to be interesting
• 12:52
  to see how that falls out and unbelievable.
• 12:55
  We went through a very difficult period in the gold and silver
• 12:59
  market last week, a 10% drop. But I have some great news, some
• 13:04
  astonishing news for you about what's happened the last 10
• 13:08
  times that we had a 10% drop. We're going to get to that next.
• 13:11
  But first I want to say thank you to 1st Mining Gold.
• 13:15
  They also sponsored my gold and silver content.
• 13:17
  That's a stock that I owned long before they sponsored the
• 13:21
  company. They're a gold development stage
• 13:23
  company. They've got 2 massive projects
• 13:26
  in Canada, Spring Pole in Ontario and Duparquet in Quebec.
• 13:31
  It's gold in the ground. It's been drilled millions and
• 13:34
  10's and hundreds of millions of dollars spent to define the gold
• 13:37
  in the ground. The big miners are going to need
• 13:40
  to replenish their pipelines and they're looking to grow.
• 13:44
  There aren't many big multi million ounce projects in
• 13:48
  favorable jurisdictions like Canada.
• 13:51
  You can learn more about this at firstmininggold.com.
• 13:54
  Now let's talk about this horrible situation we all went
• 13:57
  through, right? Gold was down 10%.
• 14:00
  But I've got a happy ending for you.
• 14:03
  And thank you for joining me down here, guys.
• 14:05
  It really is just a cold, dank basement.
• 14:08
  Hold on. If you're not down here, this is
• 14:12
  incredible. Again, from metals and miners.
• 14:14
  That's a great sub stack. This was from the free section.
• 14:18
  Rhymes. Why gold's violent 10% crash in
• 14:22
  six days has been a 10 out of 10 generational buying opportunity.
• 14:29
  So let's look at these charts. And this is real easy to see and
• 14:32
  real easy to understand. And I don't have the right chart
• 14:36
  up now. I do now you can see it.
• 14:39
  So there's the gold price. OK, I'm a circle that for you.
• 14:44
  And you can see that's the blue line.
• 14:47
  These are 6 day percentage changes.
• 14:50
  And as you can see over here, down here is 1010%.
• 14:54
  We hit that just last week. However, the happy news is down
• 15:02
  here because it lists out on the left all the different times
• 15:07
  throughout history that the gold price went down 10% or more in
• 15:12
  six days and then appear like 2 days later, days later, four
• 15:17
  days later. If we go all the way to the
• 15:20
  right and go to two months later, you can see that on every
• 15:24
  occasion the gold price went up. And of course, that's good news
• 15:28
  for silver as well. 10 out of 10, right?
• 15:31
  There's no guarantee. Don't make any financial
• 15:34
  decisions based on what I'm saying.
• 15:36
  But I believe that in two months, I, I, I just have a
• 15:39
  feeling $4600 gold is not going to be out of the question.
• 15:44
  Are people still buying? That's the question.
• 15:47
  OK, let's go out to Reddit. A man from the street shares
• 15:50
  this with us, he said. I just went to my local coin
• 15:54
  shop expecting that the cases would be overflowing with gold
• 15:58
  and silver. This was all they had.
• 16:01
  They said demand has been very strong even at the higher
• 16:05
  prices. Don't believe the fake Crimex.
• 16:09
  I think he's referring to the Comex here in the United States
• 16:12
  or the LBMA. OK, people are still buying.
• 16:16
  Buy the dip and raid. And then we get this from the
• 16:20
  Silver Academy, which adds even more of fuel to that fire.
• 16:24
  Silver. Global supply under pressure
• 16:26
  drives significant and soaring price revaluation.
• 16:30
  And this is interesting from India, apparently India's big
• 16:35
  hold on here. Yep, I got do I have the right
• 16:37
  screen up for you? Yes, I do hold on one second.
• 16:45
  OK, Apparently India's MCX, which is their version of the
• 16:49
  Shanghai Gold Exchange, it's their electronic market for
• 16:54
  silver and gold went down. OK, silver futures trade.
• 16:58
  OK. And so this was their their post
• 17:00
  from India Today said series of updates issued throughout the
• 17:03
  morning. The MCX stated that the issue
• 17:06
  was being addressed and that the trading would now commence from
• 17:09
  its disaster recovery site. OK, yeah, it's a disaster, all
• 17:13
  right, paper silver. But look at look at this.
• 17:16
  When the Multi Commodity Exchange suffered a massive
• 17:19
  outage in trading and paper silver contracts abruptly
• 17:23
  crashed, many headlines screamed about falling prices.
• 17:26
  Yet on the ground in India's key markets, Mumbai and Ahmed Ahmed
• 17:32
  Dodd Dodd, I'm a I'm a Dodd Anyway, Jewelers and dealers saw
• 17:36
  the opposite. Physical silver premiums
• 17:39
  actually rose as buyers scrambled to secure real metal
• 17:44
  despite what was happening on the screen.
• 17:47
  The divergent between plummeting paper prices and climbing
• 17:51
  physical demand is a classic lesson in how futures markets
• 17:55
  can become detached from real world supply and demand,
• 17:59
  especially in times of technical disruption or trading panic.
• 18:04
  OK, that's what's going on guys. I got one more great thing for
• 18:08
  us to look at. This is astonishing.
• 18:11
  Do you know how precious precious metals are?
• 18:14
  You know how much silver there is in the world?
• 18:15
  How much gold there is in the world?
• 18:17
  But wait until you see this. This knocked my socks off.
• 18:20
  And I think you're going to find it quite astonishing as well.
• 18:24
  A visual demonstration of from visual capitalist how much gold
• 18:32
  is left to mine on Earth. And uh huh.
• 18:36
  Where'd it go? What happened?
• 18:39
  Oh, there it is. Can I get that to come up on the
• 18:42
  full screen? Let's see.
• 18:47
  Nope. OK, so I'm.
• 18:50
  Oh, shoot, hold on, guys, man, I am all over the place.
• 18:54
  All right, so let's look at it this way.
• 18:57
  OK, how much gold is left? And there's a pyramid in the
• 19:01
  background, just for reference, OK, the big block is all the
• 19:05
  gold in the world that's ever been mined, and most of that is
• 19:09
  still around about 22 meters by 22 meters.
• 19:13
  The smaller block are the remaining reserves.
• 19:17
  OK, here all the gold ever mined, and these are the
• 19:22
  remaining reserves. Now, this is not the crazy part.
• 19:25
  The crazy part is this, when you look at the size of a Ford F-150
• 19:34
  pickup truck relative, that's all the gold left in reserves in
• 19:39
  the world, all the gold that is yet to be mined.
• 19:43
  And gold has been money for thousands and thousands of year
• 19:47
  years. Look, the people at UBS know
• 19:49
  what's happening. The people at the LBMA know
• 19:52
  what's happening. We talked about that.
• 19:53
  We know it's happening. We are in a new paradigm, a new
• 19:57
  world for the precious metals. It's going to be an absolute
• 20:01
  wild ride together. Before I go, I do want to say
• 20:05
  thank you to one more company who supported me throughout the
• 20:09
  years, our good friends at Dirty Man Safe.
• 20:13
  Don't forget they have a discount code Ron 10.
• 20:16
  You bury these in the ground. You can put whatever you want
• 20:19
  inside. Here, let me open the.
• 20:21
  Very robust, very cool. OK, you put whatever you want.
• 20:24
  I have a little plastic Unicorn. Comes with a sleeve that you
• 20:28
  bury in a cap. Everything about this reeks of
• 20:31
  quality. You can check them out at
• 20:33
  dirtyman.com. And again, don't forget, Ron 10
• 20:37
  is your discount code. And if you do bury some type of
• 20:42
  treasure in your yard, don't tell anybody, right, 'cause
• 20:45
  you're going to be like a pirate.
• 20:46
  That's what the pirates did. And people are still hundreds of
• 20:50
  years later, trying to find the pirate treasure.
• 20:52
  So take care of yourself, guys. OK?
• 20:54
  I really appreciate you joining me down here in the basement.
• 20:57
  Please don't forget to subscribe.
• 20:59
  That makes upstairs. Susie happy.
• 21:01
  You be good and I'll see you. Yes, you next time.
• 21:05
  Bye bye.