Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⭐SILVER⭐ You'll FEEL BETTER After Seeing THIS! 🦍🦍 - ( Silver Price and Gold)

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⭐SILVER⭐ You'll FEEL BETTER After Seeing THIS! 🦍🦍 - ( Silver Price and Gold) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
I hope you're feeling good, but you're going to feel better as a
0:04
silver investor after watching this video live stream.
0:07
Are we in? We are in the beginning phases
0:12
of an epic bull run in the commodities, in the silver price
0:17
and the gold price. There is so much going on.
0:20
I'm going to show you several reasons today why we have reason
0:24
to be very optimistic. Big smiles for us basement
0:29
dwellers as we follow the silver price, the gold price, and the
0:34
price of the precious metals mining stocks.
0:36
Let's get started by checking silver, 50% up silver.
0:40
Where are we right now? That would be what, $45 per oz?
0:45
But let's do, let's look at something super interesting
0:48
going on with the silver chart and see where, how about this
0:53
guys, maybe we're already up 50%, but this is a one year
0:57
chart of the silver price starting back in October of
1:00
2023. As you can see, the first thing
1:03
I want you to look at is that red line that starts right
1:07
around January of this year and shows just an unbelievable
1:11
strong and not overly not like a rocket ship, not like a straight
1:15
up, but a good consistent rise in the silver price up till
1:20
today where we're sitting around $31.30 in the future.
1:24
So we've got a strong upward trend.
1:26
But what's even more interesting, look at the green
1:29
line coming down that forms a triangle.
1:32
You can see the triangle being formed there between the green
1:35
line and the red line. Some people call that a wedge
1:38
triangle pattern. No matter what it is, the price
1:41
of silver stayed within that area for about the last six
1:45
months. But eventually, when those two
1:47
points come together, silver needed to either break out to
1:50
the upside or the downside. And what did our good friend
1:54
Silver decide to do? Well, he or she, however you
1:58
want to identify your silver broke out to the upside, which
2:02
is another second very positive trend for silver.
2:06
But what I really want to point out what I really look.
2:09
Look, look, let me take a good look at my fellow basement
2:12
dwellers. And by the way, thank you for
2:15
being here. Yes, you.
2:16
I see you. You're here.
2:18
You're part of the group. You're accepted.
2:20
Welcome. Hope you found a little home
2:21
away from home. We love to talk about silver,
2:23
gold, the other precious metals, platinum, Palladium.
2:26
We love to talk about the economy.
2:28
We love to get together. And it's a big deal.
2:31
You're here. Thank you very much.
2:32
I'll put out a piece of content every day.
2:34
You're always welcome here in the basement.
2:37
OK. Like I said, you're part of the
2:39
group. Please subscribe to the channel
2:40
Give the video a thumbs up. But what's really how dramatic
2:44
can I be? What is unbelievable and why I
2:48
don't know why this isn't a bigger deals not being a bigger
2:52
deals not being made of this. Ron can talk today is the fact
2:58
that silver guys since October, since one year ago, Look at the
3:03
orange October 2023, just about a year ago, the silver price was
3:09
under $21.00. That was the low of the day at
3:13
the very low point. That means silver now is up by a
3:18
little over $10. That's right at or right above
3:22
or maybe right below a 50% increase in one year.
3:28
The silver price is strong. The silver market is strong.
3:32
Look, we know the other reasons. What are the other reasons,
3:34
right, The fundamental, the industrial demand reasons.
3:37
We know the monetary reasons. But what else happened?
3:41
Massive, massive news overnight. We got news from China of a
3:47
gigantic, enormous, we're blown away stimulus program coming out
3:53
of China. Now look, a lot of people
3:55
predicted this. We've got guys like Phil
3:57
Streibel over a blue line futures.
3:59
He's the first guy that I heard talk about this a few weeks ago
4:02
that is ultra bullish for the silver price.
4:05
China is is kind of what let the bazooka loose when it comes to
4:10
stimulus programs. The copper price is going up and
4:14
we know, right? Where is it here?
4:16
Let's not forget, right? Silver is the bipolar metal.
4:21
It has its IT has its, let me get that up there.
4:25
My little coloring for you, right?
4:27
Silver is like bipolar, half half related to gold, half
4:31
related to copper. OK, I'm sorry.
4:35
It's schizophrenic in that regard.
4:36
It's bipolar because it's very Moody.
4:38
The fact that the copper and silver has actually, the silver
4:42
price has actually been following the copper price much
4:44
more closely lately. But China just unleashed an epic
4:49
stimulus program, and that's what's going on all over the
4:52
world. Hey, we have a guest this
4:53
morning. I'm going to bring him on Daniel
4:55
Diaz, the executive director of Citizens for Sound Money.
4:59
See if we can get him up here. Hey, Daniel.
5:01
Hey, how you doing Ron and basement dwellers?
5:05
We're doing good, buddy. Thank you for joining us.
5:07
You're, you're certainly an authority within the precious
5:10
metals community. And I was just pointing out the
5:12
fact to my viewers that the silver price has gone up by 50%
5:16
from 1 year ago, right now 50%. And then overnight we got a, we
5:22
got, we got big news out of China of a mass massive stimulus
5:26
program. And that really is what we've
5:30
been waiting for, for silver, copper as well.
5:33
And I was pointing out the fact that copper's the kind of half
5:36
cousin or you know, the other half of the silver price.
5:39
So we got a lot of things to be excited about when it comes to
5:42
these precious metals prices. Oh yeah, 100%.
5:45
You know, the fact that China is doing a stimulus package and
5:49
we're going to start doing some more QE here as we lower
5:53
interest rates. You know it, it's just going to
5:56
be, look, I, I've been saying since November of last year that
6:01
I think there's going to be a major economic collapse starting
6:03
in May And, and it really did start in May.
6:05
We have banks shutting down. Heck, my bank, which wasn't
6:08
reported in the news because of the banking as a service bank is
6:13
a part of at least I think 30 or 40 BA s s that have $300 million
6:18
locked up with the collapse of Synapsis brokerage, which we
6:22
worked with Evolve Bank and Trust, which is one of the with
6:25
the friendly banks out there. And nobody's talking about it
6:29
because the courts ruled that the banking as a service doesn't
6:33
fall under FDIC protections. And they were when we were
6:36
appointed a trustee appointed by the courts to get our money
6:38
back. And then with the lowering of
6:42
the interest rates, there isn't typically an immediate effect
6:47
when the interest rates in the Fed lower lower rates.
6:51
It usually takes anywhere from two weeks on the, on the low
6:56
end, it could be immediate up to over a year before we see a
7:00
recession. But 100% of the time when we cut
7:04
rates in a recession, which we know because of the SOM test
7:07
that we are in a recession, that we are going to go in a
7:10
recession and the fact that we're printing more currency,
7:12
look, the fact that we cut rates in gold is still going up.
7:16
I mean that's not normal. When we cut rates, gold usually
7:19
goes down. But let me, let me, let me.
7:21
I want to piggyback on something you said.
7:23
If we're not in a recession, why would the why?
7:26
Why would, why would they have cut rates, right?
7:29
It doesn't make sense, right? If employment's good and they're
7:32
and they're winning the fight on inflation, which is a whole
7:35
different BS subject, why would they cut rates if we weren't in
7:39
a recession? And it's a fact, Daniel, that
7:41
recessions are never recognized when they're actually going on.
7:44
They're always recognized retroactively 6 months or a year
7:48
later. So you know, this whole idea
7:50
that Janet Yellen's running around and Jerome Powell saying
7:53
everything's great, everything's great, but oh, we're just going
7:55
to cut rates because we want to be cautious is a bunch of BS Is
8:00
is what it? Is now 80% of the time they've
8:04
cut rates in a recession. There is that 20% where they
8:07
were pre emptive and started cutting rates before we were
8:11
even in a recession which we did not see actually recession
8:15
occur. So, but the statistic is when we
8:19
are in a recession and the Fed cuts rates it, it it's going to
8:22
get worse. And the last like based on the
8:26
the 10 year and three-year inverse yield curve, the fact
8:30
that we've been in this inverse for 700 days indicates that the
8:35
amount of drop in the stock market and and real estate and
8:41
so forth. Really the stock market, we can
8:42
expect anywhere from a 70 to 90% drop because back back in 1929,
8:47
which was the longest period of time we were in the inverse
8:50
yield was about 500 days and we had like a 80% drop in the stock
8:54
market. So they're, they're guessing and
8:56
they're estimating between 70 to 90% because we've been in it for
8:59
700 days. And then, you know, silver, you
9:03
know, I just picked up my first batch of, of constitutional
9:07
silver. Actually, I picked up this one,
9:10
the 1964 Peace dollar, which is supposedly the rarest coin in
9:16
the world. I think it's a restrike.
9:18
I took a look. There's a $10,000 reward for
9:20
anybody that has a real 1 and PCGS will just give you $10,000
9:26
to look at it. I but like, look, silver is
9:31
fantastic and I think constitutional silver is a
9:33
definitely a way to stack and start building, building your
9:37
stack if you haven't started yet.
9:39
And look, it's an industrial metal and a precious metal.
9:41
It's a bit schizophrenic in that way just because of, of all the
9:44
properties that this metal right here has, you know it, it can be
9:48
used to fight viruses, bacteria has a lot of health benefits.
9:52
There's also that's, so that's the, the healthcare sector.
9:55
Then you have the fact that it's the most one of the most
9:57
reflective metals out there, the solar panels.
10:00
And then you have Donald Trump stumping and like when asked
10:05
about how is he going to fix inflation, You know what his
10:07
number one talking point is. What's that?
10:10
Energy. He is now talking about energy
10:13
and how when he becomes president, his goal is to cut
10:17
energy prices by 50%. Well, that's going to require,
10:20
as you were saying earlier, a lot more copper, a lot more
10:23
silver, a lot more uranium, because we're going to have to
10:26
increase our energy output to be able to lower it.
10:29
We need to increase supply so we lower demand.
10:32
So I mean, it's going to be more fracking, more oil.
10:35
I mean, that's his number one talking point for the economy.
10:37
I still think Donald Trump has some bad economists.
10:40
They should be educating him on monetary policy and cutting, you
10:45
know, the printing of the Fed and so forth.
10:47
But hey, that's, if that's an indication of what's going to
10:50
happen in the future when it, when it comes to the energy
10:53
industry, I mean, I think we can look for silver to really go up.
10:57
I, I think I've seen estimates as high as $500.00 an ounce.
10:59
That's on the high end. I see more like 2-3 dollars an
11:02
ounce and and gold. I'm very bullish on gold.
11:05
I think we're going to see gold hit between 9 and $11,000 an
11:08
ounce in the next three to five years.
11:10
Yeah, yeah, yeah, it can definitely happen.
11:11
You know, when it comes to silver, you may not know this,
11:14
Daniel, but I am the silver psychiatrist and I have, I have
11:18
diagnosed silver as having a multiple diagnosis.
11:22
It's bipolar because it's related to gold on the monetary
11:28
side, but very related to copper on the industrial side.
11:31
And actually silver's been following copper price.
11:34
It's been more of a a stronger correlation.
11:36
So it's bipolar. I'm sorry.
11:38
It's schizophrenic. It has multiple persons say I'm
11:41
not a very good psychiatrist. It's schizophrenic.
11:43
It has multiple personalities, but it is also bipolar.
11:46
It's it's prone to mood swings, right?
11:48
Like it doesn't just kind of, you know, it's either really
11:52
happy or really sad. And yeah, this idea that we
11:56
could get to unbelievable high prices and silver.
11:59
I mean, I've been showing charts lately.
12:01
Like if you compare like an ounce of silver to the NASDAQ
12:05
100, like do that ratio, we are at unbelievably low levels on
12:12
that ratio. I mean that ratio actually shows
12:14
that the price of silver can get to 500 like you said even up to
12:18
like $1100 per oz. And those are numbers.
12:21
Those are, those are like 50 year charts that show that
12:25
relationship. When you compare gold, the price
12:27
of gold to the, the S&P 500, right, right now that ratio is
12:32
like 2 to one. You know, takes 2 ounces of gold
12:35
to buy one unit of the S&P 500. Long term, that's closer to 1 to
12:39
1. So to see gold at 5000 isn't out
12:42
of the question either. But people look at us like we're
12:45
crazy. I mean, I get accused all the
12:46
time. I'm a silver pumper and I'm,
12:48
hey, I'm like, I'm a, so I'm a, I'm a guy that likes
12:50
calculators, you know, you know, so I want to, I want to hit on
12:55
this too and get your opinion. So we got this massive stimulus
12:59
coming out of China, which is going to be good for all the
13:01
commodities. I mean, they're saying this is
13:03
like a bazooka style stimulus. It feels like to me, whether
13:08
you're talking China, the United States, and oh, by the way,
13:11
those are the world's two biggest economies.
13:13
Or you look at Japan, another one of the world's biggest
13:16
economies, or, or, or, or Canada or any numbers that everybody,
13:21
it's like they're, it's like, it's like the, because there's
13:24
so much debt in the world right now that they're just in a
13:28
situation where all they can do. It's like, it's like the world
13:31
economy is an old junker car. And all they can do is throw on
13:35
a fresh coat of paint and say, look at this beautiful car.
13:37
Look at this, look how great things are.
13:39
But underneath the hood, underneath the paint, there's a
13:42
bunch of rust in a, in a car that doesn't really run all that
13:46
well. Does that make sense?
13:48
Yeah, 100% sense because they are using a model that they set
13:52
up in the early 20th century, you know, Swift, you know, and,
13:57
and printing, you know, printing money, well, not really, right.
14:01
Like there's only two trillion physical dollars printed out of
14:05
the $35.4 trillion of national debt and the 200 or $300
14:13
trillion in derivatives that are through loans and what do we
14:19
call it fractional reserve lending and and other stocks a
14:22
month, right. So all the credit in dollars
14:25
that we have, yeah, only $2 trillion is actually physically
14:30
printed. So the China doing this huge
14:33
stimulus package, they're just pumping a bunch of numbers, you
14:37
know, in their in their central bank computer.
14:39
And then they're going to give it out and it's just going to
14:41
inflate and steal the wealth of the people.
14:43
Yeah. And, and, and it's what they
14:47
want is a much more efficient way to control the monetary
14:51
policy, which I think is another way to control the people.
14:54
Because if you control the money, control the people,
14:56
right? Because it, look, I, I use this
14:58
in that analogy recently, what is money, right?
15:01
But beyond the three characteristics of a medium
15:03
exchange unit account store value, ultimately why did we as
15:07
humans 10,100 or we got 10,000 years ago decide to start using
15:11
a medium exchange? Well, our effort as farmers and
15:16
and work in the agriculture, that's energy we're exerting
15:18
money is just a representation of pure energy, right?
15:22
Yeah. So we are working in toiling.
15:24
We sell our our vegetables, which is the former energy,
15:27
right? Took sun energy, took our
15:29
toiling labor to get to grow. Then we we sell it.
15:32
We're selling our energy that we've produced and we're using a
15:36
medium exchange to use it. Physical gold and physical
15:39
silver is a perfect form of of energy storage because of the
15:45
fact that we can't print more of it.
15:47
In fact, to make gold you need 2 neutron stars to rotate around
15:52
each other and then and then explode and the energy of those.
15:58
Excuse me, where do I get these neutron stars, Danielle?
16:02
Yeah, very far away in billions of years.
16:06
I've got one of them. I've got one of them on top of
16:09
my shoulders. Maybe you bring your neutron
16:11
star over here. We.
16:12
I'm sorry to interrupt you. I couldn't.
16:14
I couldn't resent. But what other resource can you
16:18
store your energy in then? The fact that gold took neutron
16:23
stars to produce the amount of energy.
16:26
Look, we can make gold, right? But it takes so much energy to
16:30
make one atom of gold that it just isn't economically
16:33
feasible. Feasible through fusion.
16:35
Fusion power. I think there was an experiment,
16:38
I forgot how long ago, where they were actually make gold,
16:40
but it doesn't make any economic sense.
16:43
At some point in the future if we start mining helium 3 from
16:46
the surface of the moon and we start getting an abundance of
16:49
fusion reactors and everything, maybe at some point we might be
16:53
able to effectively produce gold.
16:55
But that's way off off in the this in the future.
16:59
I don't even know if it's distant future.
17:01
Yeah, well, you know, I've got a, I've got a one ounce of
17:04
silver around here, came from one of my moderate moderate
17:07
channel monitors, Big 10 Silvershire.
17:09
And a friend of mine, Bald Guy Money is a YouTube channel.
17:13
We were talking a few months back and he pointed out, like
17:15
you did, he said it's a battery, right?
17:17
And not a battery in the sense of what we usually think of in
17:21
terms of storing electric energy.
17:23
It stores like, I guess you could say human energy, right?
17:26
Like this one ounce, this one ounce silver round that I have
17:30
that I will never get rid of. But the reality is, you know, I
17:34
could probably hire a couple of my neighbor kids to work for me
17:38
and exert, let's say 2 hours of energy based on this right Then
17:43
maybe they wouldn't want this. Maybe they're not awake to the
17:45
value of silver, But so I'd have to go to the coin shop and sell
17:48
it for 30 bucks. And but that I have this right
17:50
here, right. I, I, this is storing or maybe
17:53
an hour of energy for a, a, a low priced plumber or whatever
17:57
it may be. It's stays, it's a, it's a bad,
18:00
it's like a, it's like a human energy battery value.
18:05
And I agree with you. I mean, I want to pull up the US
18:07
debt clock because Daniel, we have big breaking news this
18:10
morning that we need to check out here.
18:13
We need to congratulate our politicians in Washington, DC
18:16
because we knew we we knew they could do it.
18:19
But if you look in the upper left hand corner, guys, you'll
18:22
see that the US national debt clock, we've now rolled over to
18:26
35 trillion and we finally hit at 400 billion.
18:29
We weren't sure that our politicians were going to be
18:32
able to find a way to waste enough of our money to get us
18:34
there, but they but they certainly have.
18:37
And Daniel, do you have any thoughts on that?
18:40
You any any words of congratulations for our senators
18:43
and congressmen in Washington? You know, Congress is the MVP
18:47
of, of destroying the economy, right?
18:49
They, they, they, they're the best at deficit spending.
18:53
You know, I was just, when I was in the shower this morning, I
18:56
was thinking like, man, like what?
18:58
We had a discussion about the Federal Reserve and the IRS
19:01
income taxes. You know, we get into those
19:02
discussions from time to time. And I was thinking, you know,
19:07
it's amazing that our politicians can just make
19:11
imaginary money, right? And then not forget about a
19:14
budget, right like what they're doing would actually be
19:18
considered extortion with collecting in taxes and they
19:21
don't even collect enough taxes for deficit spending when the
19:24
rest of us right the citizens that we granted the authority
19:29
and power for the government to to have these rights through the
19:32
passing the Constitution and not selecting our representatives.
19:36
They we have to have a budget and we can only spend what we
19:41
make. Hold on, let me lower my my
19:45
allergy medicine reminder. Don't forget your medicine.
19:49
I know, I know. But yeah, so if we have to be on
19:55
a budget and we can only spend what we make and sure, we can
19:58
have a little bit of credit, but once you get too much credit,
20:01
right, there's a point of no return where you owe so much
20:03
credit on credit cards and other debt where your income can no
20:07
longer pay for it. That's where we're at.
20:09
That's a debt spiral. Let me, let me, let me show you
20:11
something. Dana, can you see on the screen
20:13
the US debt clock right now? Yes.
20:15
OK, And I and I and I own a promise to all the basement
20:19
dwellers. I won't talk about this again
20:20
for a full week, but I, I think it's critical.
20:23
I wanna get your thoughts on that.
20:24
So we've hit 35 trillion, 400 billion.
20:27
Woo Hoo. They're probably having a big
20:28
party. But the US national debt, right?
20:31
When you have debt, you owe interest.
20:33
So if we go down here to the bottom, right, right, that shows
20:36
our interest expense 951. So we're approaching a trillion
20:40
dollars. The higher the debt goes, right,
20:43
the higher the interest expense goes, the higher the interest
20:46
expense goes. That feeds into this box right
20:50
here, right. The budget deficit, right.
20:52
That makes the budget deficit higher.
20:54
The budget deficit directly feeds into makes the US national
20:58
debt get bigger and it turns into a debt spiral.
21:01
Because when now that the debt's bigger and bigger, that means
21:05
this number and these numbers are have all been going up
21:07
astronomically like hockey stick rocket.
21:10
And, you know, so it's just, it's just, it's, it is truly a
21:14
debt spiral. And, and, and these actions that
21:17
we're seeing from countries like like China and what we're seeing
21:21
from our own government, the United States, you know, all
21:24
they can do at this point is, is, is, is paper over this,
21:27
right? Eventually they're going to have
21:29
to monetize this debt and, and the dollar will just continue in
21:33
real, in real terms to go down in value.
21:35
And the value of real assets, including silver and gold, will
21:38
continue to go up. Yeah, I mean that that's the
21:42
definition of inflation, the printing and expansion of the
21:44
monetary supply. And that is, look, there's a
21:47
direct correlation. If you look at the national
21:49
debt, the national debt's up over 100% / 10 years, how coal
21:54
is over 100% in 10 years. There is a very high correlation
21:59
between the rise of gold prices, gold prices and the rise of the
22:04
national debt. And I don't think that's a
22:06
coincidence because look what what most congressmen don't know
22:11
is that gold needs to be the central monetary unit in which
22:15
the entire world revolves. All assets need to be measured
22:18
in a gold ratio, 1 oz ratio. So if you measure the amount of
22:24
Oz it takes to buy an acre of land, a house, a car, whatever,
22:28
and then you, you watch the fluctuations in the ups and
22:32
downs of those ratios, then you can start doing what I call
22:35
wealth cycling. When something is oversold,
22:39
overbought, you, you get out of that asset and go into gold.
22:42
When it's under oversold, you get out of gold and you go into
22:45
those assets and then you you build your wealth that way.
22:47
Gold is that central base where you retreat into during times of
22:52
economic turmoil or times of overheating of their economy.
22:57
And when you print currency into oblivion or what's going to
23:01
happen? Well, it it loses value.
23:03
It keeps losing and losing value.
23:05
Like I love. I I did this in in Missouri
23:08
where I would I, I brought in a $20 bill instead of 1910.
23:12
This would buy you an ounce of gold.
23:14
And then I brought a stack of 100 and ten $20 bills.
23:18
So today you need 110 of these to buy the exact same gold.
23:24
Oz Yeah. I mean, it's it's not that gold
23:26
has changed. You could put go down on a table
23:29
and it could sit there undisturbed for 1000 years.
23:32
Nothing's changing. It's not producing any goods or
23:36
services. It just is.
23:38
And everything fluctuates against that.
23:41
So yeah, it's it's just, it is a death spiral they're going to be
23:45
spending debt into. I mean, they're irresponsible.
23:48
And I was thinking like, prior to the Federal Reserve, the
23:52
government had to get the permission of the people to fund
23:55
wars through bonds. If you didn't want to fund the
23:57
government, if you didn't improve the war, you didn't buy
24:00
war bonds, You didn't buy government bonds to fund
24:02
whatever the government was doing.
24:04
It was the consent of the people.
24:06
The minute we created the Federal Reserve, it gave a
24:08
license to the government to control over all monetary policy
24:12
and spend and print out at the heart desire.
24:16
What happens when you give an addict drugs or you give
24:21
somebody who doesn't know how to budget a credit card, they're
24:25
going to expend and spend and spend and get drunk, right?
24:28
Like there's no responsibility. It's irresponsible to give
24:32
somebody who doesn't know how to manage their money a credit card
24:35
with no limit. They're, it's, they're going to
24:38
ruin themselves. And that's exactly what we did
24:39
when we got off a gold standard and, and, and got the Federal
24:42
Reserve created. But I do want to address 1
24:45
question from one of your basement dwellers.
24:49
They asked me an update about the Florida legislation.
24:51
I, I got an update yesterday. So Florida, we got a $200,000
24:56
appropriations bill, appropriations set aside to
25:00
study the impact of the Sound Money Act that was recently
25:04
assigned to a company. We're not being told because
25:06
they don't want us to influence the research and the data that
25:11
this company is going to do. But there's an RFP out there
25:16
that they're they are studying the impact sound money.
25:18
I think the deadline is right before the session, Florida
25:23
session is in March of next year.
25:25
So we should have something. And I think I'm not too
25:30
confident we're going to get a good report just because the the
25:34
precious metal space and economics is very nuanced.
25:38
And, but I think the fact that gold has continued to go up
25:42
steadily, silver is going up I think bricks the BRICS meeting
25:47
in October where they're going to announce a 40% back gold
25:49
currency. I think that might all play well
25:52
with the the, the study bill and we might get a favorable study.
25:57
But, but regardless, we are already working on getting
26:01
legislation passed during committee weeks, which started
26:03
thinking last week of November or December.
26:06
We're working with Senator Rodriguez, the Senate sponsor
26:09
from last year, and she is wanting to hammer it through
26:12
committees. Early on last year, we couldn't
26:14
do it because it was, there was something going on in in the
26:18
Senate. They weren't getting anything
26:19
approved because of the Senate President, which killed our
26:21
bill. But now we have a great Senate
26:24
incoming Senate President, Senator, Senator Bill Ben
26:28
Albritton. And he promised that he'd read
26:31
Kevin Freeman's pirate money. He's open.
26:34
We said that we were going to throw a fundraiser.
26:37
Our super PAC, Economic Freedom PAC, is going to throw a
26:39
fundraiser for him, his leadership PAC, sometime next
26:43
year because he doesn't right now.
26:46
Florida is so Republican on the Senate side.
26:48
They're not campaigning really. So, yeah, that is an update on
26:52
Florida. And we we're going to have other
26:54
updates throughout the country, Missouri and so forth as we
26:59
start writing new legislation. And so, Daniel, I'm going to get
27:02
your opinion and I'm going to get back.
27:03
I want to ask you about New Jersey in a little bit as well.
27:06
And we're going to talk more. Daniel is the executive director
27:09
of Citizens for Some Money. It's an organization that is
27:12
working tirelessly to help further along the legal tender,
27:17
gold and silver legislation on a state by state basis throughout
27:21
the United States. And we're going to talk a little
27:23
bit about that. But I, I had a moment of clarity
27:25
and I want to see if you can confirm or, or, or shoot down
27:29
what I'm, what I'm thinking here, Daniel.
27:31
But as we were looking at this and I'll pull it up just quickly
27:35
one more time, the debt clock, right?
27:38
All this debt, all this money that is being printed, that
27:41
needs to be printed. And I think 1 great way that we
27:43
can see that there still is money printing going on is if we
27:46
go over here to the dollar to silver ratio, which means for
27:51
each ounce of silver that's being produced this year
27:54
throughout the entire world, for each one ounce of silver,
27:57
there's $544.00 of M2 money supply that are being created.
28:02
So I want, I want to, and maybe this I believe will help some of
28:06
our viewers as well. A way to think about what's
28:09
going on in the world right now is to think about a seesaw that
28:12
a playground. And on one side of that seesaw,
28:15
we'll make it simple. You have all the dollars in the
28:18
world, electronic and otherwise, and let's just say all the EUR
28:22
of the world electronic. And on the other end of that
28:25
seesaw, you've got all the gold in the world.
28:28
So there's a balance that's created and that's the price
28:31
quote UN quote in dollars and EUR of gold on that dollar euro
28:36
side. They, they can, they can
28:38
increase the, the number of units by 40% like they did
28:43
during C19, right? They can just print, they can
28:46
double, they can make it by 40, whatever.
28:48
So now on that side of the seesaw, you've got twice the
28:51
amount, quote UN quote of dollars in euros, let's say.
28:55
But on the other side, you can't just increase the amount of gold
28:58
in the world. So if they, if they double the
29:01
amount of silver and gold, I'm sorry, of dollars in euros and
29:05
gold remains in silver essentially the same.
29:09
That would mean that as measured in those paper, electronic,
29:12
whatever currencies doubt the price of the gold and silver
29:15
double. Which is why like the example
29:17
you gave earlier when you went to the Missouri Senate, the,
29:22
the, the, the, the, the, the price of gold went from that
29:25
$120.00 bill up to whatever it was 15110.
29:29
Sorry, I was off a little bit. Does that does that make sense?
29:32
Yeah, no, 100%. I mean, I, I think the first
29:35
time I saw that illustrated was in a Mike Maloney video where
29:38
gold was on the scale, it was heavier.
29:41
And as they kept piling on new dollars, the the dollar side got
29:46
heavier. But yeah, it's 100% true.
29:49
I mean, look, now here's a simple, another example that I
29:53
use. Look, the Mona Lisa is
29:54
priceless, right? I use this as a Mike Maloney.
29:57
He's like, if you have $1.00 and he's talking about interest,
29:59
where you going to get the interest to pay for that $1.00?
30:01
You got to print another dollar. In this case, I'm using it more
30:04
as the Mona Lisa. It's priceless.
30:06
What happens if you make a 100 perfect replicas that you can't
30:11
differentiate from the original of the Mona Lisa?
30:14
Well, it's not as worth as much. You make a million worth pretty
30:17
much worthless, right? There's no value.
30:20
It's like going to the thrift shop and going to one of those
30:22
paintings for $0.50, right? Like that's what the monolithic
30:26
Lisa would become if you printed, created an unlimited
30:29
amount. That's exactly what's happening
30:31
with the dollar. And, and, and it's, the dollar
30:33
is not backed by anything. It is literally an IOU from a
30:37
bond that the treasury issued. It's, it's a representation of
30:40
IOU that that that is owed to through the, the, through the
30:46
bonds that the Fed, the Treasury issued in the Fed and other
30:49
people bought banks and individuals.
30:52
Yeah, it's based on confidence. And I like to point out the
30:54
first 3 letters in the word confidence are CON.
30:57
Con, right? It's a con job.
30:59
I like to show this most everyday because it it
31:02
fascinates me. That's an old silver certificate
31:07
right from 1937, and it says right here on the bottom of it.
31:12
Back in the good old days, this is $1.00 in silver payable to
31:17
the bearer on demand. So we really did have money at
31:21
one point in this country that was that was backed by we had
31:25
real money. Yeah, I mean.
31:27
You could take that to the bank and redeem one of these guys a
31:30
peace dollar. Yeah.
31:31
And you know what those were, those were when we had that,
31:35
those were some of the most like innovative, productive periods
31:39
of time in our country. Like we've experienced never
31:42
before. I mean, you know, we've done
31:44
some great things, but now like since 1971, it's like really
31:48
we've done a good job of starting a lot of wars and
31:52
racking up a lot of debt, it feels like.
31:54
So, so, so hey, we got some big news.
31:57
Are you familiar with what happened in New Jersey recently
32:01
with the legal tender? I think they're sales tax.
32:04
I what? I I know it was vetoed.
32:07
Did they pass? I heard.
32:09
I saw that it might have passed, yeah.
32:11
That's what I think. I, I, I believe that as well.
32:14
And I know that was a big issue that New Jersey was charging
32:17
sales tax on precious metals. So the, the most recent thing I
32:21
heard was that it had, that it, it had been vetoed, but that it
32:24
now it has been passed. So we're making some progress on
32:27
this legal tender front, definitely new.
32:32
Jersey sales tax, yeah, 100%. Now the sales taxes, it is, is
32:39
it helps, right? Getting rid of the sales tax
32:41
helps with legal tender. But by making gold and silver
32:43
legal tender, typically there's a clause that you don't charge
32:47
taxes on the, on the purchase and sale or, or the exchange of
32:52
one former legal tender for another former legal tender.
32:55
So the sales tax is definitely in the right direction.
32:58
What's sad though, is the only Republican state in the country
33:02
that charges sales tax on gold and silver is unfortunately my
33:05
home state, Florida. We still have a sales tax if you
33:08
buy less than $500 worth of gold or silver or in platinum.
33:13
It's in the statue of platinum as well.
33:15
So we're writing a law specifically for Florida to
33:18
overturn that and, and, and strike and make it exempt to
33:23
purchase bullion, gold, silver and platinum.
33:25
We really focus on the gold and silver, but might as well throw
33:28
platinum in there since it's in the statute.
33:30
Yeah. Yeah, interesting, interesting.
33:32
Do you have a few, a few more minutes to stay with us?
33:35
We can talk about some of the other exciting things, Daniel
33:37
happening in Silver Go. Ahead, I want to thank your
33:40
basement dwellers. They gave me a thanks by putting
33:43
1 so I'm paying attention to your chat.
33:47
Yeah, thank. You.
33:47
Know what I need to get the comments up there.
33:49
I'm missing them over there. Hey, what about this?
33:52
You know, we talked about the future of of gold server.
33:54
This I thought was an interesting little news headline
33:58
that I'm going to cover more later in the week.
34:00
But on Zero Hedge this morning, I ran into this one.
34:03
I mean, what is this telling us about gold and silver?
34:06
It says Goldman's commodity traders say gold mine on our
34:10
desk has been relentless and silver is starting to move too.
34:16
You know, does it feel like that to you, Daniel?
34:18
I mean, I know you watch the gold and silver price, but it
34:21
feels like to me that like, like another word I might use to, to,
34:25
to describe both gold and silver would be resilient.
34:28
Like, like, like are we? I mean, it's, I can't believe
34:31
because a year ago we had $1800 gold, but now we're talking
34:34
about a possible like base or floor for gold, maybe even at
34:39
the $2500 range. Yeah, I, I see sales increasing.
34:45
Look, I on the side I help friends, family acquire gold and
34:50
silver. You know, I've, I've made
34:51
connections in the industry thanks to my position here at as
34:54
Executive director. And over prior to the last three
34:59
months, I may have done just under $100,000 of silver and
35:03
gold sales. In the last three months alone,
35:05
I've done over 300,000 just helping people acquire gold and,
35:09
and yeah, it's picking up. I mean, I just made my first
35:13
junk purchase umm, and I've made that available to certain
35:17
friends and acquaintances and I'm it's, it's crazy how much
35:22
people are looking for silver right now because look, silver
35:26
at some point is going to become unaffordable for for an ounce,
35:31
just like gold is unaffordable for most Americans right now.
35:35
Looks 4 out of five Americans are living page to paycheck.
35:38
They can't afford to buy an ounce of gold.
35:41
Once this turns into two 3 four, $500.00 an ounce, maybe 1100,
35:46
right? That's like a long shot, but
35:49
that's not going to be affordable if we're still in a
35:51
Fiat standard. So you know, it, it it right now
35:56
people are realizing that and there are warnings on different
35:59
YouTube channels and different analysts saying, look, if you
36:04
don't buy silver now, you might miss your chance to get it at an
36:07
affordable rate. And I'm stacking, man, I went
36:09
full tilt over the last, through the last three, three months,
36:14
I've converted a lot of my digital gold and silver and
36:17
Bitcoin into gold, physical gold and silver.
36:20
I still have a good digital stack, but I mean, I got a lot
36:25
more physical as well. And you know, I see people
36:29
everywhere. They're people are asking me out
36:31
of the blue, brand new people on Reddit are asking how do I buy
36:34
gold and silver? I have people sending me
36:36
messages, Hey, how do I learn about gold and silver and buying
36:39
and well, how to test if it's real or not.
36:41
It's a lot more questions coming up.
36:44
My mom asked me was it Saturday night I was driving to pick up
36:48
some pizza. She said I want to talk to you
36:50
about buying some silver. So that to me that was the big
36:53
and she's probably watching mom, I love you.
36:56
And I told her, don't worry, I got you covered.
36:57
OK. But yeah, more and more people
37:02
are are moving into it. You know, I want to, I need to
37:04
say just take a second here as we're talking about buying gold
37:08
and silver, say thank you to my channel sponsor, Pimbex Pi MB EX
37:14
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37:17
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37:24
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37:27
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and what's very important is a company that you can trust.
37:50
Now we need to press the Pinbeck's magic button here to
37:53
get an update on the gold and silver price.
37:56
So everybody take a deep breath and let's see how we're doing.
37:59
Wow. OK, gold's now up 1050 per oz,
38:02
2636 silver pushing up against $31.00 an ounce.
38:07
Remember, Daniel, remember when we first met a year ago, you and
38:10
I and we were talking about $21.00 silver?
38:14
Yeah, $21.00 I think gold was at 21 or 2200 or something like.
38:18
That yeah, all right, no, like 8 got down to 1819 hundred.
38:22
I remember I, I remember telling you Daniel of a year ago, put
38:26
all your money into silver. It's going to be $31.00 on on
38:30
September. I think I said did.
38:32
You predict that. I said September we will.
38:35
I'll go back and find that that live stream where I where I I
38:38
told that, yeah, great. You'd be a prophet.
38:40
I will listen to you on facing. A profit as Susie likes to might
38:45
have an opinion on that, a profit of BS.
38:48
You know, you, you, you, you talked about I, I do, but I, I,
38:53
you know my truth or however you want to say it.
38:55
My belief is that is that we could have like 44.
39:00
I just feel $44.00 silver. I thought I talked about maybe
39:04
before Christmas, but even, you know, as I look, just my feel
39:07
into next year, Mayish, you know, and last year I did around
39:12
December and my prediction was that we'd have $2500 gold by May
39:16
and I was wrong. We got to like 2475.
39:19
But I just, you know, I mean, I look at technical charts.
39:22
I listen to people like you, I listen to.
39:23
So I live this and that's, that's kind of what I'm feeling
39:26
right now. But you said something earlier
39:29
that I think is very important for us to very exciting
39:33
potential, especially for silver, because right, you know,
39:36
silver really hasn't moved yet, right?
39:38
Gold made a big move. Silver and the mining stocks
39:41
haven't really moved yet. And that's this idea that if we
39:45
get what what could be like, almost like some speculative
39:49
interest, a speculative mania in my friend the silver Hermit
39:54
wrote something. I want to read this real, real
39:56
briefly, like, you know, that if people really do start to wake
40:01
up and buy silver, that it's such a small market, it could
40:04
move so much so fast. But Silver Hermit said this.
40:06
He said the main reason why I think that the price of silver
40:09
can really go berserk is the speculative Dr. which the public
40:14
has adopted in recent years. People have learned that hard
40:17
work and creativity no longer necessarily guarantee a decent
40:20
life standard and that successful speculation and
40:23
things like real estate or in stocks.
40:26
Is the only way to escape poverty?
40:28
Silver is an asset which still a lot of people don't own.
40:32
If just a tiny amount of the capital which is sloshing around
40:35
in the financial markets finds its way to silver, it can really
40:39
catch fire. Does that to me.
40:41
I thought that was a very powerful paragraph.
40:42
Does that does that make sense to you?
40:44
Yeah, 100% look, gold and silver and and let's let's frame it
40:49
into the proper perspective what gold and silver is here to do.
40:53
Gold and silver does not make you rich.
40:56
Yes you put your your economic energy into it and it goes up in
41:00
value against the dollar, but it against actual real world
41:05
assets. It it like for example real
41:07
estate if that's more of a supply and demand, but the the
41:10
amount of Oz of gold don't change, but 100%.
41:13
I think if people start buying because we're going to run out
41:16
of this right here, this metal right here, this beautiful
41:18
medal, we're going to run, we're going to run out.
41:20
We're already have a shortage and it's just going to
41:22
skyrocket. And if people want to and the
41:26
reason why it's going to skyrocket isn't just supply and
41:28
demand, but we are past the point of no return our debt to
41:33
GDP ratio. First, to understand debt, debt
41:37
to GDP ratio. Most economists and historians
41:40
say that once GDP gets to about that 90% threshold where you
41:45
borrow a dollar, like you create debt to the the the Treasury
41:50
bonds and you make only $1.10 cents worth of GDP from every
41:58
dollar you borrow. That right there is already a
42:01
threshold to begin a debt spiral.
42:03
We're at almost 130% if we haven't passed that already.
42:06
That means for every dollar that the Federal Reserve or the, the
42:09
Treasury borrows to fund the government, we're only making
42:13
$0.70, roughly 70 something cents of GDP.
42:18
It's negative. We're way beyond that.
42:22
It, it, it, we're at a death spiral that I think is going to
42:25
cause the greatest depression in, in human history.
42:27
And this silver right here and, and gold, I have a gold coin.
42:32
I could show you guys. This is the only thing that's
42:34
going to preserve your economic energy.
42:36
Stocks will not do it. Real estate, I mean, sure, but
42:40
real estate is measured in dollars.
42:43
Definitely buy land. If you want to buy land, buy
42:45
land, but you're not going to be able to spend land, right?
42:47
This is the money is how you spend land, spend your economic
42:50
energy. But if you want to preserve, put
42:52
in land, but also put it in gold and silver so you can spend it
42:55
in, cash it in and, and buy goods and services.
42:57
Because I think at some point, especially we start passing
43:01
these laws, you can take these coins into your local coffee
43:04
shop and, and, and buy, you know, a coffee that's $50.00
43:08
because the dollar is inflated so much.
43:10
But you'll be able to use 1 1/2 or 2 ounces of of silver because
43:15
it'll be worth maybe about 100. So you know, it, it's, that's
43:20
how, that's just how it works. So yes, you are going to protect
43:24
yourself. And the biggest wealth transfer,
43:27
Mike Maloney says the biggest wealth transfer is in history is
43:30
about to happen. And those who are in gold and
43:34
silver are going to have a lot more purchasing power than those
43:39
who are not. And remember, 4 out of five
43:41
Americans don't have any savings.
43:44
So it's going to be a lot worse than any other time that we've
43:47
had a major recession in the past.
43:50
And you just look, if you want to, if you want to study history
43:53
and see what happened to those who put their, their, their
43:56
savings in gold and silver than the, during the Great
43:58
Depression, during the 70s. You know, even even in 2008,
44:05
Mike Maloney's, you know, has a bunch of gold and silver.
44:07
They all talk about how it's gone, how it's preserved, their
44:09
purchasing power. You can buy a lot more when you
44:13
put your economic energy in this, once the economic downturn
44:17
hits the bottom and then you put this into land and that's the
44:21
whole wealth cycle. You put it during economic
44:23
turmoil to protect it. Everything goes down and then
44:27
you put this into the land, it goes back up.
44:30
You take it out, you put it back into this.
44:32
It's generational. Takes 10:20, 30-40 years for
44:34
these cycles. But we're right there at the at
44:37
the precipice, I think, of the biggest wealth cycle in human
44:40
history. And you and what you don't want
44:42
to do, and I agree with you 100%, Daniel, which means we're
44:45
both either crazy or genius is is you don't want to convert it
44:50
into this, right? Here's the here's the guest
44:51
appearance by the paper dollar that floats around in my
44:55
basement. I want to show you a couple.
44:57
I think these are called memes because I think this relates to
45:00
something you were you were, you were saying as you were
45:02
speaking. That's this came into my mind.
45:05
You talked about since we're in such a bad debt situation and
45:08
I'm not a political channel. So you can just say I think this
45:11
this is true for Republicans are.
45:12
But if if our if our government spending, I'll say was a beer,
45:17
right? Like now what they're getting is
45:19
a lot more foam for each dollar that they spend as opposed to
45:24
the real beer. And then this one was just
45:26
funny. I can't say it.
45:27
And again, I have to get I'm not a political, but if it was a
45:31
swing set, that's what we'd be looking at.
45:33
And then one last one. It's like cartoon morning.
45:36
There's my my, I got trouble. That was click bait thumbnail
45:40
that I made. But I proved that I was.
45:42
I backed it up. Gold.
45:44
In case of emergency, I'm sorry. In case of economic uncertainty,
45:48
break the glass. A. 100%.
45:52
That's what we're doing. You know, I want to point out
45:54
also, as you were talking earlier and we were talking
45:59
about silver, something interesting that I've, I've, I
46:02
noticed between the gold and silver market a year ago, we
46:05
were all talking about, you know, gold was at 2000.
46:08
But we were all talking about how the gold price a year ago
46:12
was had already in many foreign currencies broke out the new all
46:16
time highs in the Chinese yuan, India, all the and that and that
46:20
gold would likely follow. And that's what we saw this
46:23
year. We are seeing the exact same
46:25
situation right now. We're seeing silver, right,
46:28
breaking out the new all time highs in many foreign
46:31
currencies. And and I believe it to be just
46:34
a matter of time until we're able to say, you know, hey,
46:38
silver has now broken out to an all time high in in U.S. dollars
46:42
as well. 100%. I agree with that.
46:48
Hey Daniel. So I'm going to, I want to tell
46:49
our basement dweller community, Daniel is the Executive Director
46:53
of Citizens for Sound Money. They're a not-for-profit, if I
46:56
have that correct organization, Yeah, not-for-profit
47:00
organization that is working to, to, to further.
47:04
I know one thing they're working on is them probably their
47:06
primary mission. But I'm going to let him speak
47:08
here in a second to further the legal tender legislation that
47:13
that's kind of sweeping through the country right now.
47:16
So Daniel, could you just share with our audience kind of what
47:19
you're doing, what you think you'll see happening in the next
47:22
six months or a year, kind of the the latest updates from from
47:25
Citizens for Sound Money? Yeah, absolutely.
47:29
So just the mission of Citizens Sound Money, it's very simple.
47:32
It's does 2. Our mission is twofold to
47:35
promote the use of sound money and protect people's rights to
47:39
do so. And we would protect people's
47:41
rights to to use sound money through our legislative
47:45
initiative and our our membership program and so forth.
47:49
So I just mentioned the membership program.
47:52
If you want to support our 'cause we just launched our
47:56
pioneer membership program on our website.
47:59
And we once we hit a certain threshold of, of members in each
48:03
state, we will then start looking for a state chairman,
48:07
set up a state chapter and start training you to help us lobby
48:12
and get some money legislation through and to also help
48:15
educate, right? So number one is educating
48:18
people on what real money is. Why is some money required for
48:22
some markets And that is what our new membership program is
48:25
all about. So if you want to support
48:27
Citizens for Sound Money and what we're doing trying to make
48:32
Make America Great Again with Sound Money, right, go ahead and
48:36
join our membership. And what we're doing is we are
48:39
rewriting the Sound Money Act. What we learned last legislative
48:43
session was it is much easier to get portions of the Sound Money
48:47
Act through versus a big omnibus comprehensive bill.
48:52
So we're breaking up, let's say like for example, getting rid of
48:55
the sales tax, capital gains tax for states that still have that.
48:57
That'll be a separate piece of legislation.
49:00
Legal tender will be a separate piece of legislation.
49:03
If there is a, a, a desire, a state depository or an
49:08
authorized third party depository to hold state on gold
49:11
and silver as another piece. So these are the types of things
49:14
we're doing and there's other things that we can also do to
49:17
improve the use of gold and silver.
49:18
Some states, for example, Texas is fantastic, Florida fantastic
49:23
for economic liberty, but you know where they fail?
49:26
Barter laws. If I barter with silver for a
49:29
good service and somebody decides to steal and not provide
49:32
me that good or service, I can't sue for Grand Theft because it's
49:36
not covered under bartering laws.
49:38
So there are other aspects of laws that we might want to get
49:41
into the strength and that are state specific.
49:44
So if you want to join and help the sound money movement, join
49:47
the sound money movement and make your state sound money
49:50
friendly. Join city.
49:52
This is some money. Join our membership initiative.
49:54
We'll train you. I'll train you as well in in
49:59
grassroots and and lobbyists. Sorry citizen lobbying and you
50:05
know it. We need to save our country from
50:10
the the slaves of enslavement of Fiat.
50:12
I mean, Fiat is destroyed every aspect of human society.
50:16
There's a great book ignore the Bitcoin aspect of it.
50:19
If you just delete Bitcoin from this book, it's still one of the
50:22
most one of the best economic books that explain how Fiat has
50:27
ruined every sector of human society.
50:30
It's called Fiat ruins anything, everything by Jimmy Song.
50:34
The good short read. Actually, it's a little thicker.
50:37
I I saw it in person, but it's when I when I listened and read
50:41
it online, it's, it looked like a short read, but it's one of
50:44
the best books that explain exactly how Fiat has destroyed
50:47
it and how gold or in the his case Bitcoin.
50:51
But you replace Bitcoin with gold and silver will fix all the
50:54
problems with the Fiat economic system has has launched.
50:57
And you know, we talked earlier about the, you know, I I love to
51:01
look at extras pyramid, right, gold and silver.
51:04
They are the base. I forget the term you used,
51:07
right, But all this other stuff above it.
51:10
And we'll, we'll leave crypto out of the conversation.
51:12
But you know, bank money, the bank debt, all these different
51:16
things. They're all synthetic, they're
51:17
all make believe, they're all fake.
51:19
And you know, it's just a tiny bit.
51:22
We talked about how just, you know, that we could, if we had
51:24
some speculation come back into the silver market, how big the
51:28
markets could move. I mean, if like, I think our,
51:32
our mutual friend, Pat Holland from the Missouri Freedom
51:34
Initiative and I, he calculated at one point that like if 1% of
51:39
the derivatives market went into gold and silver, it would be
51:42
like a 10X amount of money in those markets.
51:45
I mean, like you talked about this potential for, you know,
51:49
and we got to remember, this is critical.
51:51
I got to, I got to get, you know, we got to remember,
51:53
Daniel, that financial collapse financial, I'm not, I'm not
51:57
saying the Sky's falling. I want to be the, the, the town
51:59
crier, the tinfoil hat, but these things really do happen,
52:03
right? We all have this recency bias.
52:05
Like, well, it hasn't happened during my lifetime.
52:08
There were things really got bad.
52:10
It, it's kind of like a 100 year flood, right?
52:13
Like you and I could here in Missouri, you can get really
52:15
cheap land on the floodplain of the Missouri River.
52:18
And you know what, it may only flood once every 100 to 200
52:22
years. So if we built the house 10
52:23
years ago, you and I are like, this is great.
52:26
You know, it's never flooded here.
52:27
Well, guess what, it's going to flood, right.
52:30
And I think that I think that we can look at the Fiat money
52:33
system. If we look at the history of the
52:35
Fiat money systems, you know, the, the, the, the hundreds or
52:38
thousands of Fiat systems that have failed throughout history,
52:42
they all eventually do fail. And when we look at that crazy
52:46
US, that clock and see what's going on there and all the other
52:49
things that you so keenly mentioned today, like these
52:52
things do happen. They do happen.
52:55
You know, that's the that's the reality.
52:58
Yeah, and you know what? I I had a point I wanted to
53:02
bring up. Yeah, I I hate when that
53:05
happens. And and, and yeah, I, I was let,
53:08
I was listening to you, letting you finish and I lost my point.
53:11
Yeah, that's why you'll see me looking down, writing down, and
53:14
then I can't read my notes. Well, let's go let you you keep
53:17
thinking it's going to come back.
53:18
I want to add this one. This one just blew me away.
53:21
This example, this is a Gucci purse.
53:24
This bag can carry 600 gold oz, which weighs about 40 lbs.
53:30
That equals this just shows the value of precious metals.
53:34
Those 600 ounces of gold are the equivalent of 22,000 barrels,
53:40
not gallons, barrels of oil. Is that just crazy to think
53:44
about? Like the the, the amount of
53:46
energy that can be stored in such a small area with gold?
53:50
And I imagine that's maybe the the size of a small well, it's
53:53
90 to one, right? So think about what whatever
53:57
that would be. 9 * 6 is 5454 thousand ounces of silver.
54:04
I mean it, but it's just crazy to think that that small amount
54:08
of metal can equal that much oil, which is another real asset
54:12
even. Yeah, you're looking at a little
54:15
over a million, 1.2 million, something like that, $1.4
54:20
million in gold, I think. I can't do math in my head that
54:23
quick, but but yeah, I mean, that makes sense.
54:26
The gold is very dense, man. Like even fraction when you look
54:30
at a fractional coin like I have a a French franc, which is .1867
54:35
pure ounces of pure gold. I mean, and you compare that to
54:39
how many ounces of silver? It's like 500 bucks, $500.00 of
54:42
silver. You know, it's, it's a lot more
54:44
than a tiny little French franc that weighs like 5.2g.
54:48
And also gold is very dense metal.
54:52
You can carry $100,000 in the palm of your hand.
54:56
It's, it's, I love gold because you can wear it as jewelry,
55:01
right? Like I, I got my ring and my
55:02
bracelet and if I in a pinch I could, I know that this right
55:06
here that I'm wearing, even though it's 14 carat is slightly
55:09
over a pure ounce of gold. So I'm wearing at least to $2600
55:14
worth in a pinch, you know, and, and it's great.
55:16
It's very compact. People don't really think of
55:18
jewelry as money. When you see gold as a central
55:21
monetary unit, it's money. And yeah, the ratio is really,
55:26
really out of balance right now with gold and silver.
55:29
But I, I think there's an economic reason for that.
55:32
As you as, as something gains more utility, it becomes less
55:40
is, it's less viewed as something valuable, right.
55:44
So it's it's I like using on the digital side of things for the
55:48
the digital people think of Bitcoin.
55:51
Bitcoin has very little smart. It doesn't have many smart
55:54
contracts. They're just getting into that.
55:56
It's more seen as a store of value, as Michael Saylor says.
56:00
But Ethereum is a smart contract.
56:01
It was built so you can build applications, games, businesses
56:04
entire like ecosystems on and it's like 110th of the value of
56:10
of Bitcoin, right? It's the same thing with gold
56:12
and silver. Gold is money.
56:14
Yeah, yeah, you can use it electronics.
56:16
You might be able to use it for some utilities, but silver is
56:21
definitely being used in every single industrial sector in the
56:25
world and it's seen more as a utility.
56:28
So there I forget what the name of the diminishing.
56:31
I think it's called the diminishing returns, diminishing
56:35
return of utility, utility diminishing return, whatever.
56:38
The more utility something has, the less valuable is perceived
56:42
because of like, I don't know, maybe because more efficient to
56:45
produce. I'm not exactly sure the reason
56:48
why that happens, but I think that's why it's like a 90 to one
56:52
ratio right now. And I don't really see silver
56:55
getting back to that precious metal status alone because of
57:00
the amount of energy and the fact that they're coming out
57:03
with silver batteries that retain energy way longer, way
57:06
more efficiently, charges way faster than lithium batteries.
57:11
Yeah, yeah. Daniel, thank you for joining us
57:13
today. I'm going to bring people out to
57:15
your website here. Hold on one second, Citizens for
57:21
Sound Money. Here we go guys.
57:23
I want to show you where you can go.
57:26
How embarrassing if I have the wrong website pulled up, but I
57:29
think I got it right. And there we go.
57:32
This is it right here, guys. Citizens for sound Money again,
57:37
it's citizens the number 4 sound money.org.
57:40
You can learn more about the the organization there.
57:44
You can become a member, you can donate to them.
57:47
They're again, they are not-for-profit.
57:48
And there's all kinds of great where's the thing that shows all
57:51
the states? Is that under legislation?
57:53
There we are. State list and this will
57:57
probably become more pertinent as we move into 2025 and head
58:01
into the new legislation season. Is that correct, Daniel?
58:05
But yeah, we're going to we're going to continue to update the
58:08
states as we as sessions start. I mean, there, there are a few
58:12
handful of states that have year long sessions which you know are
58:16
more liberal like New Jersey. Actually New Jersey has I think
58:19
a year long session in California.
58:23
But those states there there's probably a little harder to get
58:27
legal tender pass through. But as we progress through
58:30
legislation, get bills filed, get sponsors, we'll update that
58:34
list with the legislation and where they where those pieces of
58:38
legislation are in the committee process.
58:41
All right, my friend, thank you for being here with us today.
58:45
Up. I took you off the screen
58:46
already. We appreciate you.
58:47
We appreciate all the hard work you're doing and hopefully we'll
58:50
see you again here in a few weeks for an update and next
58:54
year some great updates regarding, you know, as as we
58:58
continue to see more legislation being passed across the country.
59:02
Absolutely. Sounds good.
59:03
Thank you. All right.
59:04
Thanks, Daniel. See you.
59:05
Bye. Bye.
59:07
Hey, guys. I want to also say thank you to
59:10
you for being here, right? You are Ron's basement.
59:15
It's really not my basement. We got like 600 of us down here.
59:18
So thank you for being here. I also want to say thank you to
59:22
our channel sponsor, First Mining Gold, Canadian gold
59:25
developer with two multi million ounce projects in Canada and
59:29
Fortuna Mining, a producing gold and silver mining company with
59:33
operations in Latin America and West Africa.
59:36
Great companies, both of them. You can learn more about them at
59:39
their websites. I'll have a link to those in the
59:42
description of this video. Don't forget to check out
59:45
Citizens for Sound Money and also channel sponsor and backs
59:50
Pi MB, EX. Let's run out there real quick
59:53
before I say goodbye and just check and see what's going on.
59:57
This is always where I need to take a deep breath, OK?
1:00:00
Last we checked, we were up 1050 on gold and we are 1080 silver.
1:00:07
Still up $0.30. All right, basement dwellers.
1:00:09
Hey, thank you guys for being here.
1:00:12
OK? Have a great day.
1:00:13
Be nice to yourself, be nice to those around you, OK?
1:00:16
And I'll look forward to seeing you soon.
1:00:17
Thanks again to Daniel Diaz. From Citizens for Sound Money
1:00:21
for joining us today, have a great one.