Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / THIS Means BIG Price MOVES for SILVER and GOLD

Transcript

THIS Means BIG Price MOVES for SILVER and GOLD · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Today's the big Fed day. What does it mean for the silver
0:04
price and the gold price? You might be wondering what can
0:08
we expect as we move throughout the day?
0:10
I will give you my thoughts and we'll touch on the long term
0:14
situation as well. We got a ton to cover guys.
0:18
Let's dig in right away. We've been seeing, I don't know
0:21
if you've noticed this, especially with Silver over the
0:25
last 48 hours when I was checking last night some rather
0:29
extreme moves and Silver, Silver had actually moved by a full
0:34
$1.00 per oz when I checked last night, compared to just 48 hours
0:40
earlier. Remember big extreme moves and
0:44
that's a 5% move. That's to me, that's relatively
0:47
extreme. Usually precede larger moves in
0:52
the future. Will that move be to the upside?
0:55
Will that move be to the downside?
0:57
Unfortunately, you want to know? I want to know neither of us,
1:02
neither of us know for sure. However, I can say this today we
1:09
should see a big move one way or the other in the silver price
1:13
and gold price. Now it's all going to come down
1:16
to the Fed. Let's talk about what to expect
1:18
from the Fed. I think later today we could see
1:22
we could on the downside see $1940 gold on the upside
1:28
potential and that's what we're excited about.
1:30
We know that's what's going to happen.
1:32
Eventually the gold price could rise above $2000 and stay there
1:37
for good. Aren't we ready for that?
1:40
It's a psychological number, right?
1:42
Gold. We're more silver people,
1:44
generally speaking. I know I follow gold.
1:48
I own a lot of gold mining stocks, but we're really into
1:50
silver. But gold gets the headlines.
1:54
Gold is like the Big Brother, although there's a lot more
1:57
people that are really into silver.
1:59
None the less, silver will follow gold.
2:02
And that psychological barrier of $2000 has been breached.
2:07
Has been breached. Has been breached.
2:09
We need to breach it for good. Come on, Golden Warriors, let's
2:13
make it happen. But let's talk about the Fed and
2:15
what we can expect today. OK, Let me just give you a
2:19
couple. This is, we're going to, we're
2:21
going to look at the mainstream media briefly, OK?
2:25
There's virtually no chance that the Fed is going to raise rates,
2:30
OK? And then there's an interesting
2:32
tidbit. There's someone actually.
2:34
What do you think it would mean if the Fed actually lowered
2:37
rates? And we're going to talk about
2:39
that in a second. OK.
2:42
What investors will watch, that's you and me.
2:45
We're investors instead. Are the signals that come from
2:48
Chair Jerome Powell and the rest of the Federal Open Market
2:51
Committee about where they're leaning in the future?
2:55
OK. The Federal Reserve's meeting
2:57
will most likely conclude Wednesday with the central bank
3:00
doing a whole lot of nothing. It's going to be a nothing
3:03
burger again. Everybody's going to be hanging
3:06
on their words how they communicate things.
3:11
We could see big moves in the silver and gold price.
3:14
OK, be prepared. All right.
3:16
Big moves up and big moves down. Thank you, Mr. Wow.
3:20
Mr. Shovel 1968. Thank you again for the Super
3:23
chat, my friend. Very generous of you.
3:26
That's what's coming. Investors will be watching
3:29
signals. They come from Jerome, and where
3:32
they're leaning, there's no likelihood that the Fed will do
3:34
anything here. There's like a 0% chance is what
3:37
they're saying. There's more than a 0% chance.
3:40
I heard a couple people who I respect say that they thought
3:44
there was a chance that we could get an interest rate rise that
3:47
would shock the market, that would send reverberations
3:51
through the gold and silver market, that would send
3:54
reverberations down here in the basement.
3:57
I would reverberate. That would not be a good thing.
3:59
Again, the long term thesis for gold and silver remain in place
4:03
and that's almost a 0% chance is what they're telling us.
4:08
We'll see how it happens. OK.
4:10
This says here, my sense is that Paul is going to want to be very
4:14
measured and careful about sounding too hawkish.
4:18
He's managed to thread the needle here, and they are.
4:21
They're not threading the needle.
4:22
What's another way that we could say it?
4:24
Skating on thin ice. Remember that Pink Floyd song If
4:27
you should find yourself skating on the thin ice of life?
4:31
Powell knows he's skating on thin ice.
4:33
Did you notice? You ever wonder, like, when you
4:36
watch him talk, especially a month ago, the last time he did
4:40
a press conference? To me, he seemed nervous and
4:44
like he was a little kid that was telling fibs because he was
4:48
right because that's actually what's going on right now.
4:53
All right. So we've got that going on.
4:54
Let me let's get back here because this was very
4:57
interesting. I want to read this to you about
5:01
what's going on this morning in the markets.
5:03
It says the Dow, the Dow Jones futures had dropped this morning
5:07
waiting for Jerome Powell. Did you hear the employment news
5:11
that we got this morning? AD PS employment report showed
5:15
the US economy added just 113,000 jobs in October, well
5:21
below estimates of 150,000 jobs and up.
5:26
That was up from September's $89,000 rise.
5:29
But remember, September then was the month when they said they
5:32
gained 336,000 jobs when they put the official employment
5:37
report out. So ADP is telling us, and to me,
5:41
ADP is a little more real data. ADP is the world's biggest
5:45
payroll processing company. They they process paychecks for
5:49
millions and millions and millions of people, thousands of
5:53
big companies in the United States and around the world.
5:56
So they have access to the real data, and their numbers came in
6:00
lower than expected. Are we starting to see the
6:03
cracks? I said.
6:04
And I'm out on. I'm out on the limb, baby.
6:07
I'm out on the edge of the limb. But I said that third quarter,
6:10
4.9% BS GDP growth number that rang the bell at the top for the
6:17
US economy. We know what's going to happen
6:19
when the economy slows down. OK, this is basement dweller one
6:23
O 1. And also I need to say thank you
6:26
all you basement dwellers. Over 250 of you.
6:29
We are growing in numbers when you're here in the basement.
6:32
Well, you can consider yourself if you like.
6:35
It's you have free will. A basement dweller.
6:37
We hang out together. We love to talk about silver and
6:40
gold. Please come back.
6:41
Please give this a thumbs up. I will ring the bell here when
6:43
we get to 100. Thumbs up.
6:45
Don't you worry. But let's get back to the Fed
6:46
and talk about what? The Fed is doing today the CME.
6:53
That's the Chicago Mercantile Exchange Fed watch survey on
6:57
Tuesday. This is interesting guys showed
7:00
zero chance of any rate hike when the Fed concludes its two
7:05
day meeting on Wednesday. 0% chance.
7:09
That's the betting that's the big sophisticated financial
7:12
people. So we got a 0% chance.
7:14
In fact this this pay attention The survey of Fed funds interest
7:22
rate speculators went so far as to show a 3% probability that
7:29
the central bank will trim short term rates that would be cut
7:33
rates. This, that this shocks me.
7:36
Currently in a 5.25 to 5.5% target range by 1/4 point.
7:42
So the betting the Chicago Mercantile Exchange people,
7:46
right? These are the people that are
7:47
putting their money on the line regarding where the rates are
7:50
going. They're saying there's a 0%
7:53
chance of a rate increase and actually a 3% chance of a rate
7:58
cut. Now 3% is about one in 33.
8:04
So we're not going to bank on anything, but let me just say
8:07
that if the Fed cuts rates this afternoon, which I wasn't, no
8:11
one's even really, really thinking of that.
8:13
So it's interesting. Thank you, Daniel, for the Super
8:15
chat, Daniel, a loyal basement while there.
8:19
That Daniel, my friend up in Canada who I'm going to go
8:22
fishing with someday. Anyway, the fact that we have
8:26
the betters, the big money saying there's a 3% chance of a
8:29
rate cut that I was like, what? What?
8:32
So who knows guys, right? It could be big party.
8:36
I tell you what, if the Fed cuts rates, I'll do a late Night Live
8:39
stream tonight because I got to go to work tonight.
8:42
But anyway, when I get home I'll do a late Night Live stream.
8:45
That would be absolutely crazy. But is the Fed going to have to
8:48
cut rates? They're going to have to do
8:51
something, either in real or nominal terms, to deal with the
8:57
fact that we are in an untenable situation in this country.
9:00
I was talking to Bald Guy Money this morning about this, the
9:03
debt, 700 billion in the next three months and then another
9:08
800 billion after that, 1.5 trillion.
9:10
And you know what I told him? Well, no, I didn't tell him
9:14
this, but I'm going to tell you this again because it's my
9:16
favorite thing in the world right now.
9:19
A trillion. $1.5 trillion is like a million.
9:23
Think about a million and a half dollars.
9:25
If you had a million and a half dollars, OK, 1.5 trillion is
9:31
that million and a half. 1,000,000 * / * 1,000,000.
9:37
It's a million million and a half.
9:39
It's absolutely crazy. I forgot about the bell here.
9:43
Basement dwellers. Thank you.
9:44
We already have 135 thumbs up 1-234-567-8910.
9:53
All right. If we get a rate cut, it's going
9:57
to be crazy town. You're going to hear me saying
10:00
yeah, the biggest, loudest, yeah, in the world.
10:04
Kind of like when Susie tells me it's time to put up the
10:06
Halloween decorations or the OR the Christmas decorations and I
10:10
and I sigh like it's the sigh heard around the world.
10:13
We could hear it could be crazy. We're not going to spend any
10:17
more time on that because because it's not likely.
10:22
I'm not predicting it, but it is a possibility.
10:25
Thank you Shadow work for the Super chat.
10:29
Very much appreciated. Let's talk about gold here.
10:31
For a second I thought this was an interesting part, an
10:34
interesting quote. If anything held gold down,
10:37
though, it's the perception of a strong dollar Fed pausing Fed
10:44
hawkish today. Possibly one in 33.33% chance
10:48
that the Fed could cut rates, which still blows my mind.
10:52
Means the dollar goes down in value and right now it's been
10:56
the perception of a strong dollar that's been killing
10:59
silver price and gold price, OK, he says.
11:03
I say perception quote UN quote. Because the dollar's purchasing
11:06
power will always deteriorate over time.
11:11
It's only quote UN quote strong compared to other world
11:15
currencies that are deteriorating even faster.
11:18
We've talked about this ad nauseam.
11:20
Yeah, sure. What?
11:22
Thanks for all your hard work. Wow, I'm overwhelmed by all the
11:27
Super chats, but that's an awesome thank you CWLPFOC.
11:33
We've talked about this at Nauseam, How?
11:36
Yeah, sure. And I love the way he said it.
11:38
So simply, does that make sense to you?
11:40
Right. Like, yeah, sure, the dollar's
11:42
strong, right? Right.
11:45
But the reality is it's losing value over time.
11:48
Like all the other Fiat Unicorn fart dust, paper currencies,
11:52
right? They're all losing money over
11:55
time. So you're just comparing a bunch
11:57
of losers. That's like if you're a baseball
11:59
fan, that's like comparing the worst three teams in Major
12:03
League Baseball to each other. Well, sure, one of them's the
12:06
strongest, but they all got losing records, man.
12:09
Thank you guys for all the support you've given Ron's
12:11
basement. It's a much appreciated.
12:14
We are going to have a website coming soon.
12:17
Ron's basement.com. Don't forget about that.
12:20
We're trying to get a tagline for the for the for the forum
12:24
where you'll be able to go 24 hours a day.
12:26
Keep sending your ideas. The one I heard today that kind
12:30
of popped in my mind was Dweller Den.
12:32
Like we could call the chat room the the dweller like the
12:35
basement dweller den or the Dweller Den.
12:37
I don't know. Susie's kind of spearheading all
12:39
that. Anyway, let's move on.
12:41
You're not here to talk about that, OK?
12:43
Massive, massive debt like we talked about earlier.
12:47
OK, another big news story this morning.
12:49
The the Treasury Department put out information about how much
12:53
debt they're going to have to raise.
12:54
Listen to this. It's absolutely crazy.
12:57
The Treasury Department announced plans on Wednesday to
12:59
accelerate the size of its auctions as it looks to handle
13:03
its heavy debt load And with financing cost rising.
13:08
Heavy debt load, I think that's an understatement. 33 trillion,
13:13
I would call that an enormous debt load, An elephant debt
13:17
load, right. Absolutely.
13:20
OK And financing costs going up. Yeah, You could say that
13:24
interest rates are like four times higher now than they were
13:27
two years ago. Yeah, they're in trouble.
13:29
In a development. Getting this is what's This is
13:33
where it's getting very interesting, for lack of a
13:36
better word. I use that word too much.
13:38
Susie often reminds me of that. But none the less, this is where
13:41
it gets interesting, because Wall Street is starting to pay
13:46
attention. Oh, Wall Street's starting to do
13:50
a little math. They must have changed the
13:52
batteries in their calculators and realizing that the system
13:56
can't go on. Ray Dalio has told us that
13:59
Stanley Stanley Druckenmiller ripped into Janet Yellen.
14:03
Everybody's waking up. The world's waking up.
14:05
It's not working, it says in a development getting close
14:08
attention on Wall Street. Excuse me, sorry, I would have.
14:14
I should have muted the microphone there.
14:16
I apologize to the department detailed it's refunding plans
14:21
and future debt sales. The announcement comes with
14:25
Treasury yields around their highest levels since only 2007.
14:29
Which remember what happened in 2007?
14:32
There was a little financial crisis that erupted.
14:35
Think about this guys. Let this sink in.
14:37
A reflection of financial markets spooked.
14:43
It's the day after Halloween we can say spooked.
14:45
Financial markets are spooked over how much damage higher
14:49
borrowing cost could exact on the United States.
14:54
On you, on me. People are waking up.
14:58
It can't go on. We are seeing a confluence of
15:02
factors right now. Debt levels in the United
15:05
States, geopolitical turmoil, war.
15:09
OK, on top of that bifurcation from economic, monetary and
15:15
fiscal systems, right, the bricks and the bricks.
15:18
Plus, don't forget, don't forget.
15:20
Do you think old Ronnie here can remember the six countries that
15:23
are adding that are joining bricks on January 1st, right.
15:26
You got Brazil, Russia, India, China, South Africa.
15:29
But now you got six more countries joining them.
15:31
And we're going to talk about the Uber importance of what's
15:36
going on with Saudi Arabia right now because it's big.
15:39
OK. But joining the BRICS countries,
15:41
you have Saudi Arabia, the United Arab Emirates, Iran,
15:45
Argentina, Ethiopia and Egypt. If I have that correct.
15:51
All this is happening at one time.
15:54
I don't want to be a doom or gloomer.
15:56
We're not all, but what do you think?
15:58
What do you think this means for the value of silver and gold?
16:02
The value of the dollar, right? There's such a, a, a, a, a, a
16:05
relationship between the value. I can't even use that word
16:10
value. The dollar.
16:12
What's it based on? Nothing, right?
16:14
The value of the dollar and the price of silver and gold.
16:18
Today is going to be an interesting day.
16:21
I am really, really looking forward.
16:25
The scene, what Jerome's, what they do.
16:28
We always watch what they do, OK?
16:30
And remember 0% chance of interest rate rise.
16:35
So watch what they do and then listen to what they say.
16:40
But remember, they're dealing with a whole different set of
16:43
data, right? They want you to think, I mean,
16:45
Can you believe people actually think the Fed like, pays
16:48
attention to the the official numbers from the Bureau?
16:51
They know. They know the real story.
16:54
They know what's going on underneath the hood.
16:57
We haven't talked about the banking sector, the banking
17:00
sector still just so you know, don't don't worry, the banks are
17:04
still in big, big trouble. The 10 year bond yield is still
17:08
high. That is super stress being
17:11
placed on the banks because of their bond portfolios.
17:14
And as they roll out through the next couple years and have to
17:17
deal with the commercial real estate bomb they have heading
17:21
down the tracks at them, it's not a good situation, not a
17:25
good, not a good time to be a big bank in the United States.
17:29
Things are not getting better. This was interesting.
17:32
I want to show you a very interesting picture.
17:34
Have you ever been to the website, the US debt clock?
17:37
I'm sure a lot of you have. If not, when you're done here,
17:40
go check out the US debt clock. It has all the data about the
17:43
debt in the United States and it runs all the time.
17:46
So you can watch how much more you're getting indebted on a
17:49
moment by moment basis. But this is very interesting.
17:54
Somebody, one of the viewers emailed me this picture.
17:56
There's a secret door that you can go into on the debt clock.
18:00
I'll let you research that on your own.
18:02
But today on the secret door, it says it shows stolen wealth.
18:09
Here's a little picture. OK, since we went off the gold
18:13
standard that shows product, can you see that?
18:19
Hold on. I'm working on it.
18:22
Bear with me. Well, what that shows is
18:26
productivity gains that have gone up, up, up, if you see
18:30
that. And at the same time, real
18:33
wages, compensation have basically remained the same that
18:38
since we went off the gold standard in the United States,
18:40
right. Productivity has gone through
18:42
the roof. Great job, America, but the but
18:45
the value of the money, right, the currency, the paper money
18:49
that you're getting has basically remained the same.
18:53
All right, guys, hold on here. We got a lot more to talk about.
18:56
Bear with me. Bear with me.
18:59
Technical difficulties. Hopefully you can hear me right
19:02
now, OK. Please give me a 5 by 5 if you
19:05
can hear me because. Because remember how we talked
19:11
about earlier, the world is changing.
19:13
There's a big deal. We're going to talk briefly
19:15
about something that you need to understand.
19:18
If you are invested in silver and gold, this is critical.
19:21
I know some of these subjects can be a little heady, right?
19:25
But if you have any of your money and silver and gold, this
19:29
is good news for you. But you need to understand the
19:31
Petro dollar. What is the Petro dollar and
19:34
what went on right now just this month that is so significant and
19:40
is going to have such ramifications on the global
19:45
economy, on the value of the US dollar and on the value of the
19:49
silver and gold. The Petro dollar is falling
19:52
apart. We're going to go through a
19:52
brief history lesson in 1971, like we just talked about, Nixon
19:57
temporarily took the United States off the gold standard.
20:01
At that point, the dollar was based on nothing.
20:03
In 1974, when I was just a four year old little champ Henry
20:06
Kissinger headed to Saudi Arabia and let's just say, persuaded
20:12
the Saudis that it would be a good idea.
20:14
That from then and until the future, excuse me, they only
20:18
sell oil in U.S. dollars. All the other Persian Gulf
20:23
countries followed suit. The world it it it, it
20:26
established something called the Petro dollar, which meant that
20:29
the dollar was now essentially based backed by oil.
20:34
But here's where it gets interesting.
20:36
Since all the oil in the world in the oil market, is the
20:39
biggest market in the world, it's massive.
20:41
Massive oil is everything. I won't go down that rabbit
20:44
hole, but all the oil in the world was traded in dollars.
20:47
What did that do? That created a lot more dollars,
20:50
that created a lot of countries that had a lot of dollars and
20:53
they're like, what are we gonna do with all these dollars we've
20:57
got. And the United States said, hey,
20:59
we have an idea for you, why don't, why don't you loan them
21:03
to us? The United States was able to
21:06
borrow and finance live beyond its means because the world had
21:11
all these dollars that they had to get rid of.
21:13
They needed something to do with them.
21:15
So the United States was basically financed by other
21:19
people's money. They would the US would spend
21:22
more than they brought in issue treasuries.
21:24
Saudi Arabia would buy the treasuries.
21:27
Same thing's gone on with China with manufacturing and the
21:31
dollar. But guys, this is changing
21:33
because we had some earth shattering news and that is that
21:37
China has officially now done several transactions where they
21:42
have bought oil. They have something over there
21:45
called the SHPGX. The Shanghai.
21:49
Let's see if I can get this right.
21:51
The Shanghai. Oh darn it, something Gas
21:56
exchange. Oh, Shanghai Petroleum and gas
21:59
exchange. The SHPGX where they are
22:02
selling. Thank you, Jim M Thank you, my
22:06
friend. They are selling now or I'm
22:09
sorry, you can trade oil for Chinese yuan directly.
22:14
No more dollar. No more dollar.
22:16
OK, Remember, let's go back in history.
22:19
Remember how Kissinger went to Saudi Arabia in 1974 and said
22:24
this is what you're going to do or you're going to have big
22:26
trouble? Well, guess who tried the same
22:29
act. Joe Biden went there before the
22:32
midterm elections to tell them you need to, you need to, you
22:36
know, stop pumping so much oil. And this is what.
22:38
Thank you, Kevin. And you guys are throwing
22:40
blowing me away. Cowbell.
22:42
Oh, I forgot the cowbell. I'll do the cowbell.
22:45
One second. I want to finish this point.
22:47
Biden tried to do what Kissinger did.
22:49
Thank you, sorcerer Stan. Thank you, Kevin Hingle.
22:51
Thank you, Jim M, for the Super chats.
22:53
Biden went over there to to rattle the Saudis.
22:57
Right. You better behave, right?
22:58
You better behave. You know what they did?
23:01
They gave him a fist pump. Now, this is not a political
23:04
show. I'm just telling you what
23:05
transpired and that's what transpired.
23:09
Shortly thereafter, something else happened and we're going to
23:12
talk about that. I don't have to move.
23:15
Here's the bell. Maybe when my daughters get to
23:26
be teenagers and they're going to try to sneak out of the
23:28
house, I'm going to make them wear these both.
23:31
That is loud. Biden went over.
23:34
They blew him off. OK, Chinese President Xi shows
23:38
up two weeks later. Cavalry leads his plane down the
23:42
down the runway. Fighter jets fly over.
23:45
They gave him the royal welcome shortly thereafter, the Saudi
23:48
Arabians, Thank you, Mike. Thank you.
23:51
Thank you. Shortly thereafter the the Saudi
23:55
Arabians announced that they are now going to be selling oil for
23:59
other currencies outside the US dollar.
24:01
This is earth shattering news for the United States.
24:05
China just announces they've sold, I'm sorry, purchased on
24:09
their market there. What is that again the SP, I'm
24:12
so bad with this. Hold on a second.
24:14
The SHPGX. We need to memorize this
24:17
basement to others. This is a big deal.
24:18
The Shanghai Petroleum and Gas, that's natural gas exchange.
24:24
OK. It's going to take a little
24:26
practice anyway. Anyway, that's a huge deal.
24:30
What makes it? Two things.
24:32
Make it huger. OK, they didn't just sell.
24:35
They didn't just sell oil for yuan, OK, Because that's right.
24:39
They they traded oil for yuan. No, no.
24:43
On top of that, it was in their CBDC.
24:47
It was in digital yuan and it gets even crazier when you
24:53
consider and I was up in in Toronto with some of the top
24:57
analysts at the big banks 3 weeks ago and one of them
25:01
explained this to me. And this is so critical, guys,
25:04
not only can you buy and sell OK, now oil the Saudis, think
25:10
about this, the Saudis, and we'll get off this subject soon,
25:12
but it's critical for us. The Saudis sell oil, they get
25:18
yuan, they get Chinese, The Chinese pay them with the
25:21
Chinese currency. OK, now the Saudis can
25:24
immediately convert that into gold on the Shanghai Gold
25:29
Exchange, which is a physical market.
25:33
OK? It's not like the COMEX or the
25:34
LBMA. Believe it or not, China has a
25:37
metals market that's actually based on there being the metal
25:42
that's being traded. So you can you can through a two
25:46
step process essentially right now in China sell oil for gold.
25:53
Now, do you think, have you heard that's called the SGE, the
25:57
Shanghai Gold Exchange, where they also sell silver and where
26:01
silver has been up to 13% higher per oz recently as opposed to
26:06
the COMEX in the LBMA, but gold also is almost a full $100 more
26:12
expensive on the Shanghai Gold Exchange.
26:15
What does that tell us? OK, right.
26:18
The world is trading oil for gold and they're valuing gold at
26:23
$100 more per oz. That's the litmus.
26:25
That's the bottom bottom line. And when we talk about all that,
26:32
right, the Petro dollar and all that crazy stuff, at the end of
26:35
the day, do you know how much trouble that spells for the
26:38
United States Treasury? Because as the world moves away
26:42
from the dollar, just at the same time when the Treasury,
26:45
when the United States is desperate for people to buy U.S.
26:50
Treasuries, remember the next three months we're going to sell
26:53
$760 billion in Treasuries. In the following month, 800
26:57
billion. Like we talked about earlier,
26:59
things are setting up on a macro level, right that to be very,
27:05
very extremely conducive for the price of silver and gold.
27:13
If you want to get yourself some silver and gold right now, I
27:15
want to say thank you to the show sponsor, Pinbex Pi, MB EX2
27:21
Brothers run the company. Great guys.
27:24
I worked with them before I took them on as a sponsor.
27:29
I'd recommend if you want to get some silver, gold or platinum,
27:32
throw them into the mix. Do your own research, make sure
27:35
right, make sure you're comfortable.
27:37
But what I found is they're trustworthy and they have the
27:41
best prices. Those are the two biggest things
27:44
to me. Yes, they have selection, Yes,
27:46
they've got silver, gold, platinum and a variety of
27:48
products, but check them out for yourself.
27:50
I think if you do, next time you're looking to buy some
27:53
bullion, you'll find, like I did, that Pimbex is best.
27:58
All right, let's talk about this is interesting geopolitically
28:02
right now. Russia, we forgot about Russia.
28:05
I'm hearing on mainstream media, so I guess it's OK to talk about
28:10
this. But they're talking about like,
28:12
Ukraine lost the war. OK, Now they're doing something
28:16
that is going to infuriate Vladimir Putin.
28:19
This is big geopolitical stuff. The EU is talking about taking
28:24
the 200 billion that they seized from the Russians, 200 billion.
28:29
That's a lot. You know, that's 200,000 million
28:33
maybe. I don't know.
28:35
That could be wrong. Anyway, they're going to take
28:38
the 200 billion that they seized from the Russians and basically
28:42
now give that to the Ukrainians. And the Russians are furious,
28:47
absolutely furious. All this is happening at a time
28:52
when Russia knows that the United States is in trouble
28:56
because we have another war that we're dealing with in the Middle
28:59
East, right? Not a good situation.
29:01
And we've got to look at how how Saudi Arabia, it gets very, very
29:07
confusing. I understand.
29:08
I guess in a nutshell, what I can tell you is I dug into this.
29:11
It's a messy, messy, messy, crazy, scary geopolitical
29:18
situation in the world. And you know, people have talked
29:22
about gold and silver benefiting from its safe haven asset
29:27
status. I know that goes up and down,
29:30
but but I don't know. I can tell you that I don't
29:36
think that's going away anytime soon.
29:38
Doesn't seem like the world is moving into a ceasefire
29:42
situation. I've heard recently the United
29:45
States rejected A ceasefire. We don't want silver and gold to
29:48
do well on the backs of any type of violence or any hurt.
29:50
But I want to show you something that one of one of our great
29:54
subscribers sent. We got a box yesterday and
29:56
there's some great stuff in it. Give me one second.
29:58
Let me grab it. This came.
30:04
Yes. I now have a little bear.
30:06
A little bear puppet. Right.
30:08
Gold bear. And we're we'll we'll get him
30:10
going right. He'll be over here with the with
30:13
the Big Bear. Put him right here for now.
30:16
But this is awesome. Now we have I believe this is a
30:20
Black Swan. So our friend Anne.
30:25
We'll get this out when the black Swans happen.
30:28
Excuse me. I know Zitch and look at all
30:32
these silver coins. I'm rich.
30:34
Yes, that two of my favorite things, these are chocolate
30:38
silver coins. Just for the record, I'm a big
30:42
fan of sweets and chocolate. Thank you.
30:44
Anne brought a big smile to my face and the entire entire
30:48
family. We talked last night.
30:51
Guys, let's talk about what do you think would happen?
30:55
Let me just throw this out there for you.
30:57
You know, we're, we're not, we're not economists, but we're
31:00
smarter than most economists. What do you think would happen?
31:03
We talked about this last night, but we're going to talk about it
31:06
again because it's so important. If 20% of the companies in the
31:10
United States went bankrupt, what if?
31:13
What if just 10 or 15% went bankrupt?
31:15
What would happen if 10 or 15 or 20% of American families went
31:20
bankrupt? Because we got data that came
31:23
from the Federal Reserve and the International Monetary Fund that
31:28
indicates that right now in this country, in the United States,
31:32
10%. And we know the real number is
31:36
much, likely much higher of our zombie companies, meaning they
31:40
have so much debt that the only way they can survive now is by
31:44
taking on more debt. They're zombies.
31:47
They're in a death spiral, 10%. We've had a record number of
31:51
bankruptcies. What is this telling us with the
31:55
Fed? Who's going to be more hawkish?
31:58
We're all ready right now. That's the type of data that the
32:02
Fed is looking at and has them shaking in their boots, OK?
32:08
And remember, as all this plays out, the powers that be, the
32:13
Fed, they aren't going to let the system implode.
32:15
They should, right? They should have done that.
32:17
Let's think about this back in 2007, 2008, they should have let
32:21
the bankers had had a had a had a rough go of things they
32:25
didn't, right. Everything gets escalated every
32:29
time, right? We had the long term Capital
32:31
Management, remember that. Then we had the.com bubble that
32:34
burst and they they did a rescue for that.
32:36
And then we had the 0708, they did a rescue for that.
32:39
Then we had the repo cry. You know we've had all these
32:42
crisis they escalate escalate, escalate and they've created
32:46
this giant bubble of it's a giant poop bubble is what it is
32:52
all based on make believe, Unicorn fart dust money.
32:56
I mean it really is right. I mean and the world is calling
32:59
the bluff. The world is saying enough
33:02
enough I missed another super chat Oh my gosh.
33:05
I'll get to I'll Chris I will go back quench up.
33:07
Chris just threw a virtual Ding Dong at me that I missed another
33:11
super chat, but it's all come to a big head and is it just weird
33:16
that at the same time they've created this giant, it's a poop
33:20
bubble? That's a new concept that's as
33:22
dirty as I get on this show. I'm not going to get it out.
33:27
Susie locks me in the basement when I get out the the fake poop
33:30
that I have. Nonetheless, it's a giant.
33:33
Just make believe full of Unicorn fart gas poop and and
33:38
now it is it just me or does it seem interesting that now at the
33:42
same time we all these big wars going on everything everything
33:47
is like coming to a head. Lynette Zhang, I I talk about
33:53
this at least once a week. That guys, it's OK if you feel a
33:57
little crazy, like when you're trying to follow everything
34:00
going on in the world, because it is a little crazy.
34:04
And she brought up the point that, like, it feels crazy when
34:07
we get near to the end. And it sure is.
34:10
Heck feels like we're getting to that situation now.
34:13
We're going to hear from our friend Jerome Powell this
34:15
afternoon. Buckle up, buttercup.
34:19
That includes me. I've had my my hands up.
34:22
I've had my lunch handed to me on precious metal mining stocks.
34:26
Things will change, right? Jerome's going to talk this
34:29
afternoon. It may not change today.
34:31
We could be in for a rough ride this afternoon.
34:34
OK. Although the betters, let's
34:36
remember, are saying there's a 0% chance of an interest rate
34:39
hike, it's going to be very interesting how this all plays
34:44
out. OK, just remember, hang in
34:47
there. Oh, I need to go check out.
34:48
I missed a super chat. I'm sorry.
34:51
I get a little carried away sometimes.
34:54
Who did I miss? MM Herrera.
34:57
Is it this button? I don't know what you mean by
35:00
that. Ding Dong fun for Chris.
35:02
I need to send Chris some Ding Dong money.
35:04
Ryan the Goat. Thank you.
35:05
Jim M, Kevin Hingle Cowbell. How's everybody doing today,
35:09
huh? Hey, let me, let's, let's, let's
35:12
play a game. What's the Fed going to do
35:14
today? I'm going to say they're going
35:17
to stand. Are they going to stand?
35:19
Are they going to raise or do you think they're going to lower
35:22
rates? Type it in.
35:25
I said stand. What do you say?
35:28
Lie. I don't understand what that
35:30
means. Raise.
35:31
Hey, D Braun. Thank you for the Super chat.
35:34
We got a raise. Ricky's.
35:35
Ricky's House of crap says raise.
35:38
Good to see you, Ricky. Casey Jones Raise.
35:40
Jake says stand. Nigel says stick.
35:43
Autumn says Mitchell. Autumn Mitchell says.
35:46
Stand. Stand.
35:47
Pause, says Dave. Tony Erickson.
35:50
Ricky's House of Crap. Stand.
35:52
Tony's a solid dude. Yes.
35:53
Stand. Stand.
35:55
They will lie that I get it now. I'm sorry.
36:00
That one went right over my head.
36:01
I used to add this guy I I remodeled a couple houses.
36:05
Believe it or not. Hopefully Susie's not watching
36:08
because she's always wanting me to remodel the bathroom
36:10
upstairs. But anyway, and he would help me
36:13
with the plumbing. You know, when I would remodel
36:15
the bathrooms in these houses I had and he was a funny guy.
36:18
And he would always call me when I would do something stupid.
36:21
He'd say, good job, Albert. He called me Albert Eisenhower.
36:26
Anyway, that went over my head when I asked what they were
36:29
going to do and you guys said lie.
36:31
That makes sense. Yes.
36:33
Long round silver. Oh man.
36:38
OK, yes, 100 ounces is a good start.
36:41
You can never have too much silver.
36:43
I'll stop. Oh, if you if you get addicted
36:45
like many of us are, what you find is you can never have too
36:49
much silver. I'm not giving financial advice,
36:52
right? And if you want gold, then you
36:55
can never have too much gold either.
36:56
If you want some gold in the ground, I need to say hello to
37:01
our friends at First Mining Gold who sponsor the channel.
37:04
Make this possible. They've got 13 million ounces of
37:07
gold in the ground in Canada. Development stage projects.
37:12
That means they're moving through the permitting process,
37:15
OK, which can be a very exciting phase to go through as they hit
37:19
more and more milestones. But they're also exploring for
37:23
even more gold on those projects.
37:25
So check them out. F FM.
37:28
GF is the stock symbol. You can talk to a real life
37:31
human at the company. Paul Morris, Director of
37:35
Investor Relations, His contact info is in the description of
37:39
this and every video that I put out.
37:41
Tony, I missed the Super chat. Tony.
37:44
Chris texted me again. Tell me what I missed, because I
37:46
can't see it and I'm screwing up here and people are going to get
37:49
mad at me. You know what?
37:51
Let's call Coin Shop. Chris.
37:53
Chris, I'm going to call you, if that's OK.
37:55
Don't pick up if you don't want to talk to me.
37:57
Let's say hi to Coin Shop. Chris.
37:59
Guys, what do you say? It's Wednesday?
38:01
Isn't that what we do every Wednesday?
38:03
Oh, no, my phone's not working. Shoot.
38:06
Oh, wait, Maybe it will. Let's see.
38:09
More technical problems. I don't want that.
38:14
I think it's working. OK, hold on.
38:19
How do I do this? OK, coin shop, Chris.
38:26
OK, where's the timer? Here's the two-minute timer.
38:28
You guys ready to hear from the one and only world famous coin
38:31
shop? Chris.
38:34
Let's see if he picks up. How are you doing?
38:41
I'm doing good. How you doing, Chris?
38:43
I'm doing good. You as well.
38:45
Let everybody know. We're sorry, Tony, we missed
38:48
your super chat. We thank you.
38:49
I'm sorry Tony, I missed your super chat.
38:52
We thank you. So what else is going on, Chris?
38:54
What do you think the feds going to do this afternoon?
38:57
They're going to pause. They're going to pause, raise.
39:01
Rates, they're not going to raise rates, but did you hear
39:04
there's a 3% chance they could lower rates?
39:08
That's not going to happen either on.
39:11
If it does, it's not. Going to happen.
39:13
If it does, I'll send you a whole case of Ding Dongs.
39:17
It's a one in 33 chance. That's like betting on 0 on a
39:20
roulette wheel. It does happen, Chris.
39:22
Let's be optimistic. Well, Rod, you would bet 00 if
39:27
the wheel only has 10. OK, what else is going on?
39:35
Any any breaking news? Anything we need to communicate
39:37
to the fellow basement dwellers? This morning I was.
39:40
Going to do this, I was going to do this on your next video, Ron,
39:43
but you know this information, you know, I mean, I'm, you know,
39:46
I'm into the graded coins now, yeah.
39:48
And I've downloaded the PGC app and the NGC app.
39:53
So if anybody's really out there worried about graded coins, you
39:58
know, I've been getting a lot of deals on.
40:00
EBay The NGC app will actually work on a computer screen.
40:06
You can scan the barcode right from the computer screen and it
40:09
will tell you what the coin is worth right there and there.
40:11
The PGCS app does not work that way unfortunately.
40:15
You have to punch in the code. OK, so people have graded coins
40:19
and they want to see what they're worth.
40:20
Go get the app and they can. They can check it out for free
40:24
to download. It's it's helping me out.
40:27
OK, you know I picked up a coin last night for 4250.
40:31
The coins worth 85 bucks. Wow.
40:33
Yeah I know you're the, you're the guru and if anybody ever has
40:36
any questions for Chris e-mail me and I can forward that to
40:40
Chris. He's very helpful with with
40:43
everybody out there does anybody I'm going to look at the, I'm
40:46
going to look at the at the chat.
40:48
Does anybody have any questions or comments that you want me to
40:51
address with Coin Shop, Chris? Chris, anything you want to talk
40:56
about? No, I mean, there's really
40:58
nothing more. I mean, I just want to get that.
41:00
I'm trying to get, you know, I'm just, I'm learning more and more
41:03
about the grade, the coins I mean.
41:05
What about the zombie? What about the zombie companies?
41:08
What do you think about that? 10% of the US companies are
41:11
zombies. Can you repeat that line?
41:14
I said what about the zombie companies?
41:16
10% of U.S. companies are considered zombies.
41:21
Well, I mean it's probably to look everything closing down,
41:24
Ron. Yeah, yeah.
41:26
I mean, everything's, you know, CVS is closing down stores,
41:29
Walgreens is string down stores, Rite Aid is claimed bankruptcy a
41:32
few weeks ago. Yeah, yeah, I know when I know
41:37
and I know you've been you were particularly distressed when
41:41
HomeGoods shut down or was talking about shutting down
41:43
because you love HomeGoods. I know some of your favorite
41:47
stores, the Christmas tree shop and some of those shut down.
41:50
I. Our our heart goes out to you,
41:52
Chris. No you.
41:54
But if you got one store on it, it was bed and bath.
41:57
Bed Bath and me, that was my really home store.
42:00
I mean, you know. Yeah, I would.
42:03
I would try to. I would try to call Chris and he
42:06
was always out of Bed Bath and Beyond.
42:08
All right, buddy, thanks for hopping on.
42:10
Thanks for reminding me about the Super chat.
42:13
Let's remind everyone we got a big Black Friday giveaway.
42:18
Don't forget, you can register for that.
42:20
There's a link in the description of this video which
42:23
will explain to you the very simple process of how to
42:27
register for the Black Friday giveaway.
42:29
The plan is to be back tomorrow. Chris, thanks for joining us
42:33
here for a few minutes. You want to say goodbye to
42:35
everybody? I just want to say thank you.
42:38
Everybody, please check out Pin backs.
42:40
Thank you, Pin backs. Check out First Mine Gold and
42:43
Ron and I both have donation links and the video description.
42:46
I thank you for everybody's support.
42:48
Yep. Thanks, guys.
42:49
We'll see you next time. Thanks, Chris.
42:51
See you. Bye, bye.