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$35 Silver -- BIG Changes MOVE the World to Precious Metals · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
How's everyone doing today? It is Tuesday.
0:05
I hope you're doing great. Let me know when you can see me
0:08
and hear me. Give me a 5 by 5 I'm waiting
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for. YouTube to catch up.
0:13
I never understand I'm technically.
0:15
Are you technically challenged sometimes?
0:20
Right now they're showing me a commercial.
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I apologize for that. All right, here we go.
0:25
Here we go. Are we live?
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Are we live? Hello, I'll sing.
0:29
Hello again. Hello, I just called to say
0:35
hello. There we go.
0:37
There's Coin Shop. Chris Marcos.
0:39
Wes, thank you guys. Sassy silver.
0:42
Good to see you, man. Oh, man.
0:45
Hello, Mike. Hello, Otis.
0:47
All right, let's dive right into the information that I have for
0:51
you today. 'Cause we got a lot to talk
0:54
about, let's check the volume on the microphone.
0:57
Am I too? Loud sometimes I know I need to
1:00
talk a little softer, don't I? Would you prefer I talk in my
1:04
bedroom? Voice, let me know.
1:07
Send me an e-mail. I can't read the comments very
1:10
well and do the live stream at the same time.
1:13
So send me an e-mail. I hope you're doing well.
1:18
I know you know, we're all in this together, my friends.
1:22
We are all in. This together.
1:24
Things are crazy in the world right now, right?
1:28
I mean, our country, we're in two wars.
1:31
Not officially, but kind of unofficially.
1:33
Does that make sense? And this?
1:35
This this video this live stream is not about.
1:38
That, but it dawned on me this morning.
1:40
I. Wake up super early, like 5:00,
1:43
and I was laying there. I thought we're basically in two
1:45
war wars right now. Wars, Sorry.
1:48
War. Wars.
1:49
Wars right now. I mean, it's kind of a very,
1:53
very scary time in the world. And as Americans, I thought.
1:59
World seems like we've always been in wars for since like the
2:02
last 20. Five years or so, I don't know.
2:05
That's not what we're going to talk about.
2:06
We're going to talk about gold and what's that other metal?
2:10
That other shiny white metal? That's right.
2:12
We're going to talk about silver, and let's get started
2:15
right now. One of the world's biggest
2:22
banks, most respected banks. Is calling for $2100 gold next
2:29
year. You know what that'll mean for
2:30
silver? I'll say minimum. $35 silver But
2:34
we know we. Could shoot as high as 65, which
2:37
is what I think we're going to hit next year, but who?
2:42
Says that we could actually have much.
2:44
Lower gold prices. Yes, there are people out there.
2:48
Talking about significantly lower gold prices, which would
2:52
translate into lower prices for silver as well.
2:57
We're going to talk about their argument, right, These people.
3:00
We don't. We don't like what they're
3:01
saying, but we need to listen to what they're saying and in
3:05
particular what's going on right now.
3:08
They could be a big catalyst for even much, much.
3:12
Lower gold and silver prices? Possibly even within the coming.
3:18
The possibility is there and we need to look at it, but we're
3:22
going to. Talk about TD or TD Securities,
3:25
I'm sorry, and what they're saying about $2100 gold and we
3:29
think that's the minimum for next year.
3:31
We're going to examine why they are calling this bold call for
3:36
$2100 gold. I don't think it's that.
3:39
Bold, because I'm calling for $2600 gold.
3:41
What are you calling for next year?
3:44
Yeah, I think 2100 is too darn low.
3:48
I think once we hit that 2100, we're going to.
3:51
Catapult directly up to 2600 we'll.
3:54
Talk about that as well. Also, what could be a?
3:59
Major catalyst for the precious metals prices the federal.
4:04
Reserve pivoting. We're getting more and more news
4:08
Why? That could happen sooner than
4:10
most people think, and we're going to.
4:12
Cover that as well. We got a lot to get into.
4:14
So let's get started right now. TD Securities.
4:18
Bart Melick. Yes, Bart, that Bart.
4:22
Remember Bart from The Simpsons? Well, Bart Melick is the head of
4:26
commodity strategy at TD Securities.
4:29
We've got a great piece of work here from Ernest Hoffman over at
4:32
Kitco. Where he says that sustained and
4:35
robust gold purchases made. By Central banks provided a firm
4:39
floor for gold prices and silver as well during the recent
4:44
downtrend. And they will.
4:46
Be the key driver that pushes the precious metal to new all
4:50
time highs. New all time highs in the New
4:53
Year? OK, that's what Bart is saying.
4:57
Let's let's review quickly, right?
4:59
We know that central banks have bought a tremendous amount of
5:03
gold. We.
5:03
Know that gold is the Big Brother, right?
5:07
The big cousin, the granddaddy of all the metals.
5:11
And that's helped. Silver to a certain degree as
5:13
well, but will that continue and?
5:17
There's a bonus kicker, you know.
5:19
We love our bonus quick quickers, kickers.
5:23
Me and you basement. Dwellers welcome fellow basement
5:26
dweller. Please do give this a thumbs up.
5:29
That really helps get the word out to more people about what
5:33
we're doing here with precious metals.
5:36
Right. We don't claim we're absolutely
5:38
right or anything like that, but we want to protect ourselves.
5:42
And we want to get the word out to more and more people about
5:45
the benefits of silver and gold been organically at some point
5:50
and it's going to be a beautiful, beautiful period,
5:53
long period of time for people who in the dark days.
5:58
Like the last few years like you, right?
6:01
You. We've been through some dark
6:02
days together, guys. It has been difficult and
6:05
challenging to invest in precious metals.
6:08
It's been soul crushing, I heard someone say.
6:11
Does your Does your soul feel? Maybe a little crushed.
6:15
And if you've been in this for a long time, it's been a long.
6:18
Term battle. Some of you may be newer and for
6:20
those of you that. Are newer.
6:21
That's awesome. Let me tell you something.
6:24
I think you're getting in at the right time.
6:26
That's why I continue to buy precious metal mining stocks.
6:29
I continue to buy precious. Metals, All right.
6:33
I mean, I've. Got a a a lion's share of what I
6:36
think I need, but I'll continue. To purchase because man, I
6:40
believe we're seem to be going into a period that's going to be
6:43
so conducive. To the price of silver and the
6:47
price of gold. But we're here to talk about
6:48
what TD Securities is saying. Let.
6:51
Me read you a little quote from our friend Bart Over.
6:54
At TD Securities, he says central bank buying is.
6:58
Likely why the recent higher interest rate driven gold sell
7:02
off so higher interest? Rates drove a sell off in gold
7:06
did not. Go through.
7:07
The key supports slightly above 1800, gold held above 1800, and
7:13
gold now is holding before I came.
7:15
On I saw gold was still holding above 1900 quote the yellow
7:21
metal managed. To post a modest recovery in
7:25
recent days as the Fed continued to signal.
7:29
Higher rates for longer, you know, the Fed.
7:32
Back, back, back, squawk, squawk, squawk.
7:35
That's all they can. Do now is talk guys, right?
7:38
They're shooting blanks. They're out at real ammo now.
7:41
All they can do is shoot blanks and that's exactly what they're
7:45
doing. OK, longer and it's FOMC minute.
7:49
Minutes and rates remain. High across the yield curve, the
7:54
gold. And Silver are calling the bluff
7:56
of the Fed. The Fed has is neutered at this
8:00
point. OK, not not to mention we've
8:03
got. Two World War.
8:04
Well, not two World wars. Two big wars going on in the
8:08
world. And let me.
8:09
Be very clear with you, and I hope.
8:12
I hope you, my fellow basement dweller, feel the same way.
8:16
We don't like war. We don't.
8:18
Like the tragedy that's going on both in Europe and Israel and
8:22
Palestine right now. But it's going on, so we have
8:26
to. How do I say this?
8:28
Recognize it and recognize how screwed up things are and what
8:31
it means as a precious metals investor.
8:34
Because a big component of the precious metals is the safe
8:38
haven component and we're going to talk more about that later
8:42
and maybe why gold and silver could be going down, down, down
8:47
real soon. Not going to happen for sure,
8:50
but we're going to. We're going to talk about the
8:52
other side of the coin because we aren't just always Mr.
8:56
Positive, you know, we. Got to talk about.
8:58
We got to talk about anything and everything that could
9:00
happen. Thank you, Marcus.
9:01
For that super chat. OK now.
9:05
Here's, here's what he says, he says.
9:06
We believe the official sector will continue.
9:09
To be supportive in the months to come and should.
9:12
Be a catalyst for our $2100 gold projection next year, Bart?
9:20
From TD Securities are $2100 now.
9:26
I've got a question. Have you considered right?
9:28
Sure, right. The Fed pivoting, the Fed
9:33
Loosening. Monetary policy?
9:35
Central Bank? Fine.
9:37
There's something else that nobody's talking about that
9:40
we're going to talk. About they could be one of the
9:42
major catalyst. For the price of silver and
9:46
would happen. What do you think, given
9:49
everything the confluence of factors that have come together?
9:53
What we just talked about, but there's another one that
9:55
nobody's talking about. What if Western investors, not
9:59
Eastern investors? Because we know what's going on
10:02
there. We know what the eastern
10:03
countries are doing with silver and gold and that has been a big
10:07
component of the. Support for the precious metals
10:11
But What if? Just what if what if?
10:14
The people in the West. And that's likely people like
10:17
you are not. Us because we're already in it.
10:20
But just a few more people in the West start to buy silver and
10:24
gold. It would be rocket fuel, OK and
10:28
and if you look at the. Data the hard data.
10:30
This isn't just dreaming the amount of money in the silver.
10:34
And gold ETFs has been going down, down, down for.
10:38
Like two or three years, OK. If that starts to go up, up, up,
10:43
guys, it would be the marginal demand.
10:48
That little bit extra demand that would send the price of the
10:53
metals. Through the roof back to Bart
10:57
because Bart said these physical purchases by central banks will
11:01
be very important after the Fed pivot quote that should remove
11:07
the high cost of carry as a major obstacle to.
11:11
Discretionary traders I have. I think I know what that means.
11:18
But I really don't know what that means.
11:20
Hey, I don't know everything. We'll just skip over that. the
11:25
US central bank should pivot even as inflation is above
11:29
target. That is critical right there.
11:32
The Fed pivoting Right we're seeing a confluence of.
11:35
Factors, the Fed pivots, they're going to give up.
11:38
OK, let me I got so much to say. The market will need to see
11:43
signs that the economy is weakening.
11:46
Materially, before this occurs, he's saying the Fed's going to
11:50
pivot when the economy weakens. OK, OK, Is the economy
11:55
weakening? I just talked to an executive,
11:57
an insider. At one of the world's biggest
11:59
logistics and shipping companies, he told me, it is
12:03
cratering. It is unbelievable how.
12:07
How? How much of A decrease there has
12:10
been in shipping? Right, Big shipping containers
12:13
coming from China. Rail shipments domestically in
12:16
the United States. The trucking business.
12:19
Talk to anyone who works in the. Trucking business, we had yellow
12:23
go out of business like €100. I mean, yes, the economy is
12:26
weakening now the. Key here is The key here is.
12:31
But the Fed's got to fight inflation.
12:33
The. Fed's got to fight inflation.
12:35
Do you? Would you?
12:36
Would you be willing? Would you?
12:38
Yes, you. And by the way, if you enjoy
12:41
being here right now, please subscribe to the channel.
12:44
Our subscriber numbers are going up, but they've kind of slowed
12:47
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13:01
the Fed doesn't really want to fight inflation.
13:04
I got. I don't.
13:05
Want to break your heart? OK, if you believe in Jerome
13:08
Powell and you. Believe in Santa Claus being
13:11
real, right? I like to believe in like the
13:14
idea of Santa Claus, but. If you believe right, Santa
13:19
Claus is real and you. Believe what Janet Yellen says
13:23
and what Jerome Powell says, and that he really wants to fight
13:25
inflation, I'm going to break. Your heart.
13:28
OK, I don't. I don't.
13:29
I don't want to. I don't want to break your
13:30
heart. But I'm going to tell you
13:31
something. He doesn't really want to fight
13:34
inflation. He knows they can't really fight
13:37
inflation if they. Need.
13:38
If they did what they really needed to do, even within his.
13:43
Power, which he doesn't control as much as he used.
13:46
To cause the world is changing the world.
13:48
Is by if they did what they could do everything.
13:50
They would. They would kill the US economy.
13:53
The world is different now. On top of that, there's new
13:56
power structures emerging. So we are in a very interesting
13:59
period of time, but here. Here's the Here's the kicker on
14:04
this whole situation, the Fed with this supposed inflation
14:11
fight. Well, they're going to.
14:12
Kick it to the curb, I heard a top analyst.
14:15
Refer to it as that and they're going to do it under the cover
14:18
of of, you know, again we don't like this happening, but war,
14:23
right they can they use. They they they use it.
14:26
It the theory, the potential conspiracy.
14:29
Theory is when things get really bad and the economy and the Fed
14:34
knows that, somehow major world events unfold, right?
14:39
I'm not saying I believe that 100%, but it gives them.
14:42
Cover, right. Scare.
14:44
Everybody. Scare them was there.
14:46
Anything else that happened in the last think of the things in
14:49
the last five years that seem to.
14:51
Scare everybody so they don't care.
14:54
They don't care what the government does.
14:56
I'm just saying it's not. Necessarily my 100% belief, but.
15:01
That's scare. And then, Oh well, we can deal
15:04
with 15% inflation again. Because the world's falling
15:08
apart, they're going to kick it to the curb, the fight on
15:11
inflation, OK, Bart also said. This gets interesting.
15:15
This is something I didn't know, and I bet most likely you don't
15:20
know this either. And it is good news for gold and
15:24
silver. Because Bart said.
15:28
Or he noted. I'm sorry.
15:30
That even though China's central bank has been buying steadily
15:33
gold in large quantities. The 4% only 4% that gold
15:41
represents of its. 3.1 trillion in reserves remains very low,
15:47
China only. Holds 4% of their foreign
15:49
reserves and gold. That was mind blowing to me, but
15:52
what's even more mind blowing about?
15:54
Here's a chart look and you're going to see.
15:57
Some of my crazy notes. But look at this chart shows the
16:00
United States 68%, Germany 6, about the same, the Russian
16:05
Federation and China. Is all the way over there on the
16:09
bottom. To me that was mind blowing and
16:14
he brings that up. He says.
16:15
The PBOC. The PBOC.
16:18
Go ahead everybody. Say it same time 1. 2-3 PBOC,
16:23
The People's Bank of China. That's the.
16:28
You know what? When I'm on that subject, one of
16:30
my other favorite. Words to say is Pimbex their
16:33
sponsor of the channel? If you want to be like China and
16:36
the United. States apparently.
16:38
And be your own central bank and stack up some.
16:40
Silver, Gold, maybe platinum as well.
16:43
Go check out Pimbex they make. This possible Pi MB E.
16:48
X Pimbex. All right, online bullion
16:51
dealer. Do your own research.
16:54
Do your own due diligence right. You always want to be
16:57
comfortable. With who you're buying from, I
16:59
did. I trust them.
17:01
I've. Done several transactions over.
17:04
Gosh, probably the last nine months and I've been very happy.
17:11
I'll give you a little hint. Their prices are almost you
17:14
know, if you want to go to one place and know.
17:16
You're getting a great price. You can go to Pembeks.
17:19
That's my opinion and great quality.
17:22
Hello, Jim. Thank you for the Super chat, my
17:25
friend. Thank you.
17:27
OK. P box reserve is much much
17:30
smaller the. Chinese gold reserves much
17:35
smaller than its geopolitical competitors.
17:39
Quote the US holds some almost 70% of its foreign exchange
17:43
reserve in the form of gold. Germany 68%, Russia 25% if.
17:49
Think about this guys, if Beijing increased the yellow
17:52
metals. FX reserve to just 10%.
17:56
It would be in the market to buy an additional 3000 tons of gold
18:02
and remember as. Goes gold, there goes silver.
18:08
They always follow each other. He also said he expects central
18:14
bank's appetite for the precious metal to remain very healthy.
18:17
For years to come. Quote Given that the recently
18:20
published 2023 World Gold Council, did you hear what the
18:25
central? Bankers said about gold, right?
18:28
When are they going to start talking about silver?
18:32
Because again, I'll say it one final time.
18:34
OK. Thank you.
18:37
Jim M very generous of you. Super chats always super
18:41
appreciated. Never expected however.
18:44
However, this is where it gets interesting.
18:47
OK, World Gold Council. Survey showed that 24% of
18:52
central banks intend to increase their holding reserves in the
18:55
next 12 months. He says We are confident in
18:59
saying that central bank gold demand will be strong for the
19:02
next. Few years, he said.
19:04
Quote Central Bank's views. That the future role of the US
19:09
dollar pay attention will be diminished in the years to come
19:14
will be a big. Driver of gold demand in the
19:17
future. As has been outlined in the
19:20
survey, which shows an increase in this attitude from previous
19:24
surveys, the world is now broadcasting right that they are
19:29
moving away from the US dollar and what are they going to?
19:32
Move to what? What are they going to go to?
19:35
Thank you for the Super chat, Henny.
19:37
Thank you. Man, you guys are super generous
19:39
today. I appreciate it.
19:41
You're making me smile more than I already smile when I think
19:44
about each and everyone of you. What are they going to move to?
19:47
What are the world's central banks if they aren't going to go
19:49
to the dollar? We talk about this all the time.
19:52
I really first was introduced to this by Vince Lachie.
19:56
I love that guys on Arcadia economics every once in A.
19:58
While guys. They aren't going to buy Chinese
20:03
yuan. They aren't going to buy Indian
20:05
Rimbi's or however you pronounce.
20:07
It they aren't going to buy Brazilian reals if that's the
20:10
right name for the currency, and they aren't going to buy British
20:12
pounds. They're going to buy Japanese
20:15
yen. What are they going to?
20:16
Buy who you going to call? Ghostbusters?
20:19
No, they're going to buy silver and gold.
20:23
That's what they're going to do, because that's what everybody's
20:27
always done. I mean, if you got AI, don't
20:31
know. I can't.
20:32
I don't know why. I can't think of any other.
20:34
But if you got a urinary tract infection every year and you
20:37
always knew that whatever, erythromycin cured it and you
20:43
got it every year in November and that happened.
20:46
For eight years straight. I don't know why I'm talking
20:48
about. Well, I know why I'm talking
20:49
about this horrible. Example, I apologize, but
20:52
nonetheless, when? If if it crops up again next
20:54
month, you're probably going to call your doctor and ask for a
20:56
prescription of erythmomycin if. Gold and silver have been
20:59
valuable for thousands of years and have always been the store
21:04
of value. Who are you going to call when
21:07
the poop hits The fans? Pardon my language.
21:11
You know what you're going to call gold and silver, And that's
21:13
just what these central banks are doing.
21:15
Now it gets. Even crazier when you hear this,
21:18
it said. The same survey showed that
21:20
central banks believe gold's reserve status will grow as the
21:25
greenback's position wanes, He said.
21:29
Quote some 62% of the. Monetary institutions are saying
21:34
that the yellow metal. Will have a greater share of
21:38
total reserves. Compared to just 46% last.
21:44
That's a big increase, guys, 6 from 46%.
21:49
Less than half of the central bank said they thought gold was
21:52
going to be moved up in status. Now we've got 62%.
21:57
That's a big increase. What is that?
22:00
I don't know how many percent? Let's see.
22:03
I don't know what 16. That's 30% more compared to the
22:09
private prior, prior year are saying that gold is moving up in
22:16
status again. I'm a silver guy, OK?
22:21
I have gold. Mining stocks.
22:22
Maybe you own some physical gold?
22:24
Maybe. You own some platinum.
22:25
This applies to Platinum as well.
22:27
But gold in the world is becoming so much more important.
22:32
Hey, you. Guys got 146 thumbs up.
22:35
I'm supposed to ring the bell at 100 Thumbs up.
22:37
I'll be right. I'll be right back.
22:39
I'm gonna ring it 10 times. All right.
22:46
Thank you. That's a tradition.
22:48
Here in the basement. We ring the bells.
22:52
Quote This means potentially higher demand from the.
22:57
Official sector in the years to come.
23:00
Thank you, Craig. Good morning, brother.
23:03
Last year, this group purchased a record 1136 tons so far this
23:12
year to July, according to the IMF.
23:14
They have officially purchased 224 tons.
23:18
OK, we're almost done. And then we're going to talk
23:21
about gold and silver crashing. Oh wait.
23:25
I know. But we got to talk about
23:27
everything not crashing, going down precipitously.
23:30
Melick said that TD Securities estimates that by September, the
23:35
number totaled around 353 tons. Which would indicate A prorated
23:40
amount of around 470 tons for 2023.
23:46
Wow, man. Considering that, considering
23:49
that unreported. Official purchases.
23:52
Which include non central bank buying activity, have reportedly
23:55
contributed more than 50%. Of the purchases over the last
23:59
year, the total tonnage of gold. Purchases by the official sector
24:05
may well. Be officially higher, guys.
24:08
The world is moving to precious metals everywhere.
24:14
The East is sucking all the gold and silver from the West.
24:19
We know that when we look at the data, OK.
24:22
We also know that simultaneously in the West, yes, that's you.
24:27
That's me. People have actually been moving
24:29
out of silver and gold, and the Chinese and the Russians and the
24:34
Indians are like. We'll take it, we'll take it,
24:36
send it over here. We'll buy it off your Comex.
24:39
We'll take it. We'll buy it over here.
24:42
We know that there's a new. Oil for gold trade that's being
24:47
being utilized and developed in China and we know.
24:51
Remember the Moscow World Standard?
24:54
Yet Russia's answer to the COMEX and the LBMA that is still live.
25:00
And it's not just Russia. It's all throughout the eastern
25:03
countries. Making bold steps right to
25:06
develop their own markets for gold and silver.
25:09
They used to be subservient to the Comex in the United.
25:13
States the electronic exchange the COMEX in the LBMA in London,
25:19
England. And I believe Zurich as well.
25:22
Now they're becoming the dominant players, or they're
25:25
moving, they're moving in that direction, OK, but they're not
25:29
subservient anymore. They've grown strong, they've
25:33
aligned and things are happening at a much much.
25:37
Faster pace, let's talk about what do you think?
25:40
Let's go back to the. Federal Reserve, what do you
25:43
think is going to happen when the Fed officially pivots?
25:47
Can you, Can you? I mean, I know we've been.
25:50
Through you, you give yourself a little pat on the back.
25:53
You've been through some. Rough couple years.
25:56
Me too, you know. Pat yourself on the back.
25:59
It is not been easy to be invested in silver and gold.
26:02
Over the last two years, you know that.
26:04
I know that it's been even more atrocious than even more.
26:09
Atrocious to be in the precious metal mining stocks.
26:14
We had a confluence of negative factors that helped hold down
26:19
the value of the metals even though even though the central
26:23
bank buying did help support. We've been through it guys now
26:27
now in the biggest in the biggest.
26:30
What do you think the? Biggest factor was over the last
26:33
two. Yeah, it's the Fed, right?
26:35
They did have some real. Bullets that they used, right?
26:38
They shot them. Boom, boom, boom boom boom boom
26:40
boom boom. I don't have any guns.
26:44
Toy guns. But they shot everything right,
26:48
Like. They just like, you know, it's
26:50
like, it's like the kid there's. Me.
26:52
When I was a kid, my dad would take me to the fireworks stands
26:55
on 4th of July. Here in Missouri they had
26:57
fireworks stands and I'd buy. I was so excited I'd buy all my
27:00
fireworks. It'd be like if I got home and I
27:03
never. Did this cause I've always been
27:04
a saver, right? I probably still have some of
27:06
them down here in the basement somewhere.
27:09
But the kid that gets his fireworks goes home and just
27:11
immediately lights everything off one at a time.
27:13
That's what the. Fed did over the last two years.
27:16
Now they've been neutered and now we're hearing many of the
27:21
top analysts. What do you think when the top
27:23
analysts say hey guys you know what the feds done.
27:26
I'm Are you hearing that? I'm hearing that more and more
27:30
and I. Scour the Internet.
27:32
I scour the news. And the news that I'm reading
27:36
from independent analysts are saying the.
27:38
Fed is probably done raising rates.
27:40
You know what? I'm going to say it.
27:42
I could be wrong. Don't make any.
27:44
Financial decisions based on what I'm saying, but I think the
27:47
Fed is done raising rates in particular within the.
27:51
Context of what is going on right now with the war right in
27:56
Israel, Palestine, the war in Ukraine.
28:00
All right, OK. I don't understand why the word
28:03
W. AR is called war my.
28:07
Question would be and if Susie's on here, I don't think she is.
28:10
So I can say this, she gets mad at me.
28:12
If y'all stop saying war, well, I'm like, well then.
28:15
If it's not war, WAR. Then what's WORE?
28:19
Isn't that war? I'm sorry.
28:23
I love Susie more than anything in the World War.
28:27
Within the context of all that going on, it's cover.
28:32
The Fed's done. That's my opinion.
28:34
OK. I think we're going to be in.
28:36
I got a nose itch. We're going to be in for some
28:38
interesting times. We got we got.
28:41
Let's take a deep breath, guys. We've been through the mill.
28:45
Over the last two years, like I said previously, things can get
28:49
better, right? For precious metals investors,
28:52
things can get. Real, real good if we get a
28:56
confluence of good factors coming.
28:58
Together supportive factors for the metals that happens right
29:04
That's the way things kind of happen in the world like little
29:06
thing but then if you. Get two or three factors that
29:09
come together. That are supportive for the
29:12
price of the metals, but don't you leave?
29:16
Because we're going to talk about why gold could crash.
29:19
Many, many crash. Silver Many crash and why it
29:23
could happen in the next. Couple weeks but if we.
29:26
Get this confluence of factors that come together.
29:29
You know good things. Yeah, that's the way it goes.
29:32
That's the way the world works, right?
29:34
Life is not always rainbows and unicorns and lollipops.
29:38
It's just not sometimes. There's a combination of good
29:41
things that. Happen sometimes.
29:42
A combination of Haven't you ever had that happen in your
29:45
life? Like a combination of bad events
29:47
just occur? I had it happen, yeah.
29:50
I got home from Toronto on this trip and I thought the first
29:53
thing. I I I just hope to God Susie
29:55
doesn't say to me because of course she said she loved me and
29:59
was, you know, hugging me and bowing.
30:01
No, I'm just joking. But anyway, it's great to.
30:03
See you, Susie. When I got home, nonetheless, I
30:06
thought, God, please don't don't tell me I got some bad news and
30:09
she didn't, right? But then we got home and I'm
30:12
telling you within like 20. 4 hours.
30:14
It was like one thing after another.
30:17
You know what was the first thing that happened?
30:19
Oh, I get home in my car. The.
30:22
Acura's got a flat tire in the in the driveway, I'm like, Oh
30:25
my. Gosh, what the heck.
30:27
You know, our slow leak. So it's pretty much flat I got.
30:29
To deal with that. Then we go to this family picnic
30:32
and we're driving home. My dad calls me because we were
30:34
following him home in the car and he's like you.
30:36
Got a headlight out in your minivan?
30:38
I'm like, Oh my God, And then I go to bed.
30:40
And I all I hear I'm trying to go to bed Sunday night and all
30:43
I. Hear is the garbage disposal.
30:44
The whole feels like an earthquake when you turn the
30:47
garbage disposal on. In our house, there's an.
30:50
You know the house and and then Susie comes up, we we do we do
30:54
sleep in separate rooms and she opens the.
30:56
And she said the kitchen sink is.
30:58
Backed up and I thought, what next?
31:01
You know, I got it all under control.
31:04
Don't worry. The reason I thought that
31:05
happens in life and some more. Crap could happen today, right?
31:09
Then Stuff's going to happen. But.
31:12
But but good things can come together.
31:14
Too and we could be seeing that in the metals markets.
31:18
Because we've been through the period where a number of
31:21
negative things have come together and we fought.
31:23
Through it and we held tight, many of you were buying during
31:27
that. Which is super smart and a you
31:30
know, a good good thing to be doing.
31:34
But. We could have a period with a
31:37
confluence of positive factors. OK, let's talk about Let's have
31:43
a little talk about gold and silver going down precipitously.
31:48
Here's the deal. OK, gold has rallied.
31:53
Over what? The last week, week and a half,
31:55
Silver has come back. Over the last week, week and a
31:58
half, could we have a little mini crash?
32:01
You know, could gold? Go to $1700 what would be?
32:05
The catalyst that could drive silver, maybe even back below
32:09
$20 per oz. Well guys, the way these markets
32:13
work, remember, silver and gold are a safe haven.
32:16
Asset, we talked about that earlier.
32:18
It's there's fewer and fewer safe haven assets out there.
32:21
So it what what happened in Israel and what happened in
32:26
Palestine, the. Fear of all this war that drove
32:30
a lot of money into silver and gold.
32:33
The thing is, have you ever heard that saying, Buy the
32:37
rumor, sell the news right, Like.
32:40
And that's what happens. We we saw the same thing happen
32:44
when Russia invaded Ukraine and that whole situation broke out.
32:47
We saw a big spike in demand. For the precious metals, OK, we
32:53
could be heading into the same type scenario where when, when?
32:57
Because gold anticipates what's going to happen.
33:00
Silver anticipates, right? They just don't react as things
33:05
happen. They're always looking out into
33:08
the future, and they're looking into the future now, and there's
33:12
uncertainty surrounding what's going to happen in Israel.
33:15
We don't want worse things to happen.
33:20
We do not want things to get worse for the people of
33:23
Palestine, for the people. Of Israel for the people, of
33:26
Ukraine, for the people of Europe for anybody.
33:29
OK. But Gold and silver are looking
33:31
out if when the events then do actually happen OK in this.
33:35
Case it's problem this likely military action by Israel most.
33:41
Likely what will happen is we will have a pullback in the
33:44
precious. I don't want to.
33:45
Don't get mad at me, OK? Don't leave just because I'm.
33:48
I'm telling you the. But that's the truth.
33:51
We'll likely have a pullback because at that point the silver
33:56
and gold then know what's happening and the fear people
34:01
are emotional, right? A.
34:02
Lot of people buy based on fear, based on emotion.
34:05
That emotion is gone. OK, so.
34:09
Could we see gold? I don't really think it's going
34:11
to drop to 1700, but we could go back into the 18.
34:15
We could retest that $1800 support level.
34:18
We weren't. Too far from it, right?
34:21
Silver, we could go back and be testing that $20 support level,
34:26
right? It would have to go, you know,
34:27
down what another 1015% from here, but.
34:31
Be prepared, right? We're prepared for anything.
34:34
The long term thesis behind the metals has not changed one bit,
34:41
right? There is so much happening right
34:43
now, right right in front of our noses in the world, in the
34:47
United States alone, I mean. How screwed up have they gotten
34:53
everything? I'm sorry, do you feel that way?
34:56
I feel that way. I mean, it's so frustrating.
34:59
I saw Peter Grandich this morning, sent out.
35:02
He sends out a daily e-mail. You know, like. 65% of Americans
35:08
now. 65%, that's 2/3. So likely that's some of you,
35:14
right We are living. Paycheck to paycheck, I'm living
35:18
super chat. To Super Chat.
35:19
I'm just joking. Just joking.
35:23
People are living paycheck. To paycheck, you know, let me
35:27
ask you in the comments. I want to ask you to do one
35:30
thing first. Thank you, Mary Radcliffe.
35:31
Thank you Jim M for being here. We love Texas.
35:35
Yes, coin shop. Chris, guys, please tell the
35:38
moderators, thank. They do an awesome job helping
35:42
make this channel possible. Helping make these live streams
35:46
possible. If you can, you know, please
35:50
give them, give them oh oh, we almost have 200 thumbs up.
35:55
You know what happens at 200 thumbs.
35:57
Up the old cowbell. I'm gonna ring it.
35:59
Loud today. So there we go. 200 THUMBS UP
36:03
Woo Yeah. Thank you all Cowbell.
36:15
Yes, yes. Thank you guys.
36:17
Thank you for your thumbs up. Thank you for.
36:18
Subscribing to The Basement. Thank you for being part of this
36:23
journey. Precious metals.
36:25
That's. What we love to talk about,
36:28
right? Sure, there's all these factors
36:30
that influence it. Don't you forget when you own
36:34
silver or gold and nobody's paying me to say this, OK?
36:39
I believe it. Before I was sponsored by
36:41
Pembax, before I was sponsored by first mining gold.
36:43
When you own silver and gold, you own an asset that has held
36:49
value for thousands of years. Everywhere in the world silver
36:53
and gold have seen. Every political party they've
36:56
seen, every form of, of, of. War they've seen.
37:01
Every They've seen it all. Right.
37:03
They've seen it all and think about it.
37:06
What else? Right land?
37:08
Sure, right land, right. Not a few other things, but what
37:12
portable? Other asset Can you think of
37:15
that's held its value through all that time?
37:18
No. Bitcoin was not around 3000
37:22
years ago. Bitcoin was not around 300 years
37:26
ago. Bitcoin was not around. 30 years
37:30
ago I'm not anti Bitcoin, anti crypto anti.
37:34
It's my personal decision. Gold and silver were around
37:38
during all those periods of time, so you know there can be
37:44
short term. Periods where it's a little more
37:46
difficult, but remember, you're you're.
37:50
You've got a little bit of history on your side.
37:52
I'm going to have a drink of coffee and look at these
37:54
comments. See.
37:55
What you guys are ripping into today?
37:57
Hold on one second. Oh, you guys are the best man.
38:15
I tell you what, gong Darn autocorrect.
38:18
Yeah, the gong gets ringed at 400.
38:19
Thumbs up at. 300 thumbs up. I will.
38:23
I will at that point ring the bell one more time with my nose
38:27
until I lose a sponsor over it, which hasn't happened yet.
38:32
OK, I do have another sponsor. First mining Gold.
38:36
I just visited their Du parquet project up in Quebec.
38:39
Over 5 million ounces of gold in the ground the world.
38:43
'S best vault. I like to joke around if.
38:47
The only thing better than owning and holding silver and
38:49
gold in your hand to me is owning A mining company that has
38:53
a defined deposit of millions of Oz of gold in the ground.
38:58
Now, sure, they're going through the development stage, the
39:01
permitting. Process, but it's a catalyst
39:04
rich process, especially when we consider that there's a few big
39:08
gold mining. Companies out there whose
39:10
pipeline of future projects seems to be running a little dry
39:15
if you want to learn more about first mining gold.
39:17
You can go to their website firstmininggold.com or or.
39:22
Or you can talk to a live human who works there.
39:25
One of the smartest, nicest guys who I've encountered in the
39:29
mining sector, my friend Paul Morris.
39:33
I'll put his e-mail address in the description of this video.
39:36
Let's get back to the comments. Metals moving up.
39:39
Yes, yes, the Salty Man is a legend.
39:43
Sounds nice. So.
39:48
So. What will the big catalyst be in
39:50
the coming week for the metals? Most likely the situation in the
39:55
middle. East, like we talked about it,
39:56
could be a big positive. It could be more of a challenge.
40:02
But let's not forget one thing There is a totally discernible
40:08
move in the world to gold and silver.
40:13
Our friend Bart. At TD Securities talked about
40:16
the central banks. But it's not just the central
40:19
banks. It's.
40:20
China, India. Russia.
40:23
Saudi Arabia, United Arab Emirates, South American
40:27
countries everywhere in the. Right.
40:30
They are developing their own markets for the metals guys,
40:34
let's not forget. Let me just remind you of one
40:37
thing as well. When it comes to these metals,
40:39
there's only so much of them on the face of the Earth.
40:43
I want you to visualize one thing a big.
40:46
Pile of paper dollars that can be increased right as long as.
40:50
Trees are growing that they can. Print more and more you can
40:53
print, or they can even make it electronic, right?
40:56
And I want you to envision a pile of silver and gold.
41:00
It is infinitely more difficult to increase.
41:03
That pile of silver and gold or platinum.
41:06
Or copper. Or any.
41:08
Like limited metal. There's a finite amount God the
41:12
universe. Mother Nature only put so much
41:16
of that metal on this planet and.
41:18
And it's scarce and it cannot be easily.
41:23
Can crypto currencies be easily reproduced?
41:25
I would say yes, can paper or linen whatever they make.
41:29
Dollars out of Somebody corrected me once.
41:31
And it's not paper. It's made out of linen.
41:33
OK, what None the less, yes, it can be easily.
41:38
Heck, think about this. They can take a. $100 bill and
41:43
put another zero at the end of. It make it into $1000 bill you
41:47
can't take, you know I can't take hold on.
41:52
I don't have the power to take this three ounce silver heart
41:56
that I bought my wife Susie, and put a zero behind it.
42:00
Nobody. Nobody does, right?
42:02
No central bank, no Treasury Department, nobody does.
42:06
So when we're sitting with our metals, we're sitting pretty.
42:08
I appreciate you guys being here today.
42:10
Have an awesome day and I'll plan on seeing you tomorrow.
42:14
Thank you.