Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / TRUMP VANCE Administration Does THIS to SILVER PRICE and GOLD!

Transcript

TRUMP VANCE Administration Does THIS to SILVER PRICE and GOLD! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Welcome to the live stream. Welcome to the new all time high
0:05
gold price live stream. We've got a ton to talk about
0:08
and we're going to really dig into silver as well.
0:11
Will we soon? Will we I'll ask you be saying
0:15
new all time high for the silver price.
0:18
I think we deserve it and I think that we could be saying it
0:21
sooner as a poster later, but also let's talk about the big
0:25
big news going on right now. We are looking at the the
0:30
implications on the gold and silver price of a Trump Vance
0:35
presidency. I'll tell you what people are
0:37
saying, what we can expect and what we think it could do to the
0:43
silver price and the gold price. And you might just be surprised.
0:48
So much going on right now guys. But again, new all time high for
0:51
gold. Can you believe it?
0:52
Right. Hey, I'm getting lots of
0:54
questions about the blindfolded bear right there.
0:57
Yes, the one holding the first Mining Gold channel sponsor
1:01
sign. You can learn more about First
1:02
Mining Gold at firstmininggold.com.
1:04
But nonetheless, we will remove the $2500 blindfold from the
1:10
gold bear, Goldie, as Susie named him, when the weekly close
1:14
on the Spot gold price is above $2500.
1:17
So that means on a Friday when gold closes above $2500, we'll
1:22
have the big party and we will remove the blindfold from the
1:26
bear for good. But let's talk about silver.
1:28
There's a lot of exciting. Movement going on in the silver
1:33
market. First thing I'll do is remind
1:35
you guys, look back just back in February, March, we had silver
1:39
in the low 20s per oz. Now we are in the low 30s per
1:44
oz. We've had a massive move.
1:46
What, 40? 547% move up in the silver
1:50
price, but will it continue? Can it continue, right Or will
1:55
it be a case of silver goes up and then silver goes down?
1:58
Now we know this morning, let's go check real quick guys, let's
2:02
do a, let's do a take your blood pressure medicine and let's
2:06
check the silver and gold price at our friends over here on
2:10
Pinbeck's channel sponsor Pinbeck's I'm going to press the
2:12
magic. Pinbeck's button.
2:14
Wow. Gold is up $11.00 per oz.
2:17
Silver Taking a little bit of a hit today, but silver.
2:21
Still $30.93 Hey, when we're here I just want to make a
2:27
little recommendation to you, not telling you what to do but
2:30
next time you're looking to buy some gold, silver or platinum in
2:34
your shopping online, throw Pembacs into the mix.
2:39
I think you'll find what I found They always have a great
2:43
selection. They always have great customer
2:46
service. They have a great reputation.
2:48
OK, but most important to me because I'm resourceful with my
2:52
money, when I convert Fiat paper money into real metal, I want to
2:57
get the most metal for my Fiat. I like that most metal for my
3:03
Fiat kind of has a little ring to it.
3:04
Nonetheless, I always get that in pembacs.
3:07
I always feel like I'm getting the best deal right, but it's
3:12
also important that it's from a company that I can trust.
3:14
So they really check all the boxes in my regard.
3:17
Now guys, let's go check out some interesting developments in
3:23
the silver market. OK, we're going to do a little,
3:26
we're going to do a big dive into what's going on in silver
3:30
and what we might expect. I want to show you a couple
3:33
quick charts and some fascinating facts about what's
3:37
going on in silver right now. OK, this is a one year let's
3:41
make sure we got you on and we do This is a one year chart of
3:45
silver from our friends at Yahoo finance.
3:48
I want you to see something here.
3:50
I drew a red line at about the what 32 dollars 3250 price
3:55
range. We went up bumped up against
3:58
that probably what late May bumped up against it again in
4:02
June. OK, that is called a double top.
4:06
Now look, I'm, no, I, I have some weaknesses, one of which is
4:12
I'm not, I don't claim to be the world's best technical analyst
4:16
when it comes to the silver and gold price, but I do know this
4:19
and tell me if this makes sense to you.
4:21
Double tops are kind of somewhat common, OK?
4:25
I mean, they happen, right? We saw that gold in the past,
4:28
but a triple top, meaning that if silver were to go up there
4:32
again and peg that number and fall back down, which it's not
4:36
there. Yet we still have a ways to go.
4:38
We have about another dollar, let's say What?
4:40
$1.50 per oz in the silver price to get there.
4:43
But a triple top, meaning where you have 123 attempts to
4:48
breakthrough something is extremely rare, OK?
4:51
Which means odds are in our favor that if, if the silver
4:55
price can rally again up to that 3250 range, it most likely will
5:02
breakthrough. That's the good news.
5:04
But the if is that it has to get there first, right?
5:08
Triple tops do happen. We had that her with Gold, if I
5:12
remember correctly, back sometime in the last year.
5:15
And I remember that guy, Jared, he writes a paper called the
5:19
Dirtnap. He's the one that I heard taught
5:21
and that guy's smart, right work for one of the Shearson, the big
5:24
banks, he was like triple tops are very, very rare.
5:27
We had that in gold. Gold tried three times to
5:30
breakthrough a resistance level. On the 4th time it broke through
5:34
and we know where gold's been. New all time high gosh that bear
5:39
behind me he's rumbling and grumbling ready to go but now
5:43
let's look at this I got more hold on I want to come back and
5:46
say hi to you guys 200 people already thank you for being here
5:50
thank you for being part of the. Basement.
5:53
Look, I'm serious when I say this.
5:54
It's a big deal when you come down here and join me in the
5:58
basement. Don't we love?
5:59
I mean, I'll ask you that question, don't you?
6:01
Don't you love to talk about silver, gold, precious metals,
6:05
what's going on in the world, the big deal.
6:08
I appreciate it. I hope you feel like you found a
6:10
little home away from home, basement dweller, cuz I got news
6:13
for you right now. You're a basement dweller,
6:15
right? And we can only go up from here
6:18
and things are getting better and better and we can see that.
6:21
Look at this. This I think is fascinating
6:24
about the silver price. Nobody's talking about this.
6:27
Very few people. I heard Chris Marcus talk about
6:29
it on Arcadia. Arcadia.
6:31
Arcadia Economics. This is a silver chart going all
6:35
the way back to 1975. I'll ask you, basement dwellers,
6:38
how old were you in 1975? I was five years old, right?
6:43
Get. Look, the silver price was what,
6:45
4 bucks an ounce? That's not the point.
6:47
The point is this, if we go back and that's what, 50 years of
6:51
data? 50 years.
6:54
And we go to where we are today around $3132.00 per oz and we
6:59
draw a line across that chart. Something very interesting.
7:03
Look back in the late 70s, we were above the price we are
7:07
currently at now for what maybe a month, I don't even know.
7:10
I mean very, very short period of time.
7:12
If we go here to 2011, this block here is 2011.
7:18
Yes, for one whole year we pretty much were above $30 per
7:22
oz. But that's about.
7:23
It guys, in the last 50 years, the silver price is only been
7:29
above where we are right now for maybe a year, maybe two years
7:33
total. You know, I guess somebody could
7:35
dig in and do all the research and send me the data.
7:37
That would be awesome. But at most a year and a half
7:41
over the last 50 years have we been, we are.
7:44
So can we can we say we're at new all time highs for, for
7:48
silver, I mean. That's only two.
7:52
Percent, 3% of the last 50 years of that we've that we've been
7:57
above this price level. So I don't know am I crazy for
8:00
saying can I good, can I just can we say it?
8:03
We've got a new all time high for the silver price.
8:06
You know, I mean, it's absolutely.
8:09
Fascinating what is happening in the precious metals markets
8:13
right now. It's going to be very
8:15
fascinating if we get a Trump Vance presidency.
8:17
We're going to talk about that. What people are saying could
8:20
likely happen if that does indeed come to fruition.
8:23
But we're not done because there's a few more interesting
8:26
things we want to talk about on the silver chart.
8:30
Let's go here. I'm going to erase that, OK?
8:35
Don't forget, guys, I just, I noticed this when I'm looking at
8:40
the at the at the silver price. When we look just in the last
8:43
couple months, this activity, do you do you see it in there?
8:47
The inverse head and shoulders, the upside down head and
8:51
shoulders pattern. It almost seems like there's
8:54
what I can see is a just like a general trend towards an inverse
8:59
head, but it's almost as like several inverse head and
9:02
shoulder patterns combined together, which to me, I was
9:06
thinking like it's almost like the Siamese twins inverse head
9:10
and shoulders pattern that we're looking at here.
9:13
And we know that that's also a very powerful chart pattern for
9:17
the silver price. And we'll wrap it up with this.
9:19
Let's get rid of that again when we look at the 25 year and I'll
9:24
be quick, you guys know, but I can't help the I'm sorry, the 50
9:28
year chart on silver. We have the world's biggest cup.
9:33
See that green cup and handle pattern which when it breaks
9:38
out, whoops, see that green arrow?
9:40
It is going to be absolutely extraordinary.
9:44
It's going to be crazy. Hey, I want to mention one of
9:47
the basement dwellers, Ron S sent me this beautiful silver
9:51
bar came in the mail. Shoot the lighting.
9:54
There we go Look at that. It's a beautiful silver bar and
9:59
man, there's nothing that touches me like getting silver
10:02
in the mail. So One Ounce Bar has a very nice
10:05
prayer written on the back of it.
10:06
I think it may be from the Royal Canadian Mint, but.
10:10
Look at that. It's like a.
10:11
It's it's it's a. Like a young lady hugging a a
10:16
lion or a tiger. I can never tell the difference
10:19
between lions. Tiger.
10:20
I get a mixed up tiger. I think maybe that's a tiger, I
10:22
don't know. Anyway, drive Susie crazy.
10:25
I'm not really good at the differentiating the different
10:28
big cats that are out there, but thank you, Ron, thank you to all
10:30
you guys. Thank you and actually we have a
10:32
super chat. I need to Oh my gosh, wow, my
10:36
friend, thank you. I don't know.
10:39
Thank you Arsenal forever. I think we have a a British
10:44
football fan in the. House SEKI don't know what the.
10:48
What what currency that is, if anybody wants to convert it, but
10:52
no matter what it is, thank you very much for your donation to
10:55
the basement. Thank you very much for the
10:58
Super chat. So are we in for the Super
11:01
Summer Rally? OK, we've got all time high.
11:05
Can you believe this? Let's go out one more time.
11:07
One more time, basement dwellers.
11:09
This is unbelievable. It truly is.
11:14
Let's check, let's check. We'll do it again.
11:15
We always keep checking until it goes down.
11:17
Last we checked gold was up $11.12 and now it's up almost
11:23
$14.00 per oz 2481 dollars and. Guys, are we in for it?
11:30
Look, we called it last week, right?
11:34
We called it the week before that.
11:35
We called the employment numbers, we called the inflation
11:38
numbers. And then we called the fact that
11:40
we could be in for a premature because the summer, the end of a
11:44
premature, end of. What's that, Susie?
11:50
Oh, cool, thank you. Susie says this is Swedish
11:53
currency. Awesome.
11:55
Thank you. Sweden.
11:57
Susie's from Sweden, aren't you, Susie?
12:00
Anyway. Susie's a Swiss person or her
12:03
dad was from Sweden, I believe. OK, where was I?
12:07
Let's get back to this. The early summer rally, right?
12:12
We did. We did call it right of the
12:14
early fall rally. We're having a premature fall
12:18
rally right now. Look, there's no guarantee this
12:21
will continue. Silver critical that we get up
12:24
and above $3233 per oz. If that happens, all bets are
12:29
off at that point. My next prediction and will be a
12:32
fast move to $44 per oz for silver.
12:36
Sit back and wait. I heard somebody say last night,
12:39
right, right. Greg Weldon said it last night.
12:42
He said right now, did you hear what he said?
12:44
He said it's not a matter of if silver gets to $50 per oz, it's
12:48
a matter of how soon it gets to $50 per oz.
12:53
We are we are in the midst of a setup for the gold price and the
12:59
silver price like we've never seen before.
13:02
Now guys, we could have a pullback.
13:03
You know those things happen. The big question here is will it
13:07
bring Western investors back into the market?
13:10
Will it create ETF buying in the West in the silver?
13:15
What do you think? Because I say it every day
13:18
because it's that important. The Western investor has been
13:22
absent from this major rally that we've had in the silver and
13:27
the gold price. Absolutely absent.
13:29
You're not absent. I'm not busted on you.
13:32
No, not you, not me, not the basement dwellers, right?
13:35
You know the few. But but we're like the we're
13:38
like the Navy Seals of the investing world.
13:40
We're a very small elite group of people, but the general
13:44
Western investor, the big money has been absent from this.
13:49
Will it bring, will the news report on the fact that gold is
13:54
at an all time high? Will that bring the mom and pop
13:57
investor back into the gold and silver market?
13:59
Will they start buying ETS? Because unfortunately all of my
14:04
contacts out there of the coin shop level in the bullion
14:08
dealer. Level.
14:09
They're telling me, yeah, things are OK, but really, the Western
14:13
investors aren't aren't buying a lot of precious metals yet.
14:17
You know, how will that be? I mean who?
14:19
Knows what's going to happen here in the next six months,
14:21
guys, right with this or four months, five months with this
14:24
big election, four months. Wow, it's only four months away.
14:28
We're in the midst of it right now.
14:30
It is. We are entering, I think.
14:35
You know, like the hurricane is approaching, it's like 5 miles
14:38
offshore. We are approaching some very
14:41
tumultuous times. OK, It's going to be, it's going
14:44
to be crazy to see what goes on and even more importantly, what
14:48
happens with the silver and gold price.
14:51
OK, I told you already. There he is, the $2500 blindfold
14:56
bear. The blindfold comes off when the
14:58
weekly close on the Spot gold price is above $2500.
15:03
And we'll have a good time. We'll have a little party when
15:05
that happens. I mentioned first mining gold.
15:07
Let me also mention Fortuna Mining, also a channel sponsor.
15:11
They make this possible. Fortuna is now a over billion
15:14
dollar market cap major mining company with operations in Latin
15:18
America and West Africa. They still produce silver, but
15:22
they're producing a lot of gold, a lot more gold now when it
15:25
comes to dollar value. And they're doing a lot of that
15:29
in this exciting jurisdiction of West Africa, in the Ivory Coast,
15:34
and also in Burkina. So you can learn more about them
15:36
at Fortuna mining.com. I appreciate the sponsors.
15:40
I appreciate you for being here. You know, it is a big deal.
15:44
Like I said earlier, I want you to feel like you found a way,
15:47
like you're in the basement with me because believe it or not, I
15:49
get lonely. I get like, it's lonely down
15:52
here. This is my, I guess, therapy to
15:55
be able to connect with you. So thank you guys for being
15:58
here. We're going to get to the Trump
16:01
situation, the Vance situation, what that means for the silver
16:06
and gold price. OK, I'll tell you what I think
16:09
it means. I think there's one big thing
16:11
everybody's missing about what's going on, OK?
16:15
And it's good, very, very good for the price of your silver and
16:19
gold, Absolutely. But now let's switch gears
16:24
quickly then talk about the temporary situation that's going
16:28
on that will have a major impact on the silver, the gold price.
16:31
And that is Oh my, it's all they talk about anymore.
16:34
Have you noticed that that's all they meaning the?
16:37
Sheeple. Right, and the sheeple CNBC and
16:41
blah, blah, blah, Fed lowering interest rates right now.
16:45
Do you know this right? There's like the markets are
16:48
pricing in almost a 99 Percent, 100% chance.
16:53
That the Fed is going to lower interest rates in September.
16:58
Some people are even talking about the prospect of it
17:00
happening in July because the economy, well, I don't know.
17:04
You know, they tell us it's great.
17:06
They tell us it's crashing. But the economy is definitely
17:09
slowing down. But the markets have priced in
17:12
100% chance of interest rate cuts.
17:14
Now we've got Powell out there talking about, well, hell you.
17:18
Know we don't really. We don't really.
17:21
Need inflation to go to 2% to be able to lower rates.
17:25
He's telegraphing it. Guys.
17:26
The economy is crashing. Lumber sales are crashing, OK.
17:31
And lumber, right, is like a, is like a a.
17:34
Canary in the coal? Mine.
17:37
Because when people stop buying lumber, that means they're not
17:40
building things, right? We're seeing crashes in the,
17:43
we're seeing crashes all over residential real estate is, is a
17:47
mess, right? And the most bizarro thing about
17:50
it is that. Home prices are still at all
17:53
time highs. There's some weird weird things
17:56
going on nonetheless. 100% chance.
17:59
Now that's what the markets say, that the Fed will lower rates.
18:03
It, it really doesn't matter. Don't get me started, but it
18:06
really doesn't matter because if we get hyperinflation, the Fed's
18:11
not going to be able to lower rates, right?
18:14
the Fed will have to raise rates.
18:15
But if the Fed raises rates, think about this.
18:18
We got this little problem in this country called the national
18:20
debt. So if we get inflation again at
18:23
1520%, like a lot of people say we had just a few years ago, OK,
18:29
the Fed can't. If the Fed tries to raise rates,
18:33
oh, we got this little problem called $35 trillion in debt in
18:37
a, in a, in a annual fiscal deficit in this country.
18:41
Of over close to two. Trillion, trillion and a half.
18:44
Whatever it is, everything. Blows up.
18:47
So, you know, while the noise with they're feeding us and it's
18:51
all, you know, temporary right now.
18:54
But I'm just warning you, we're heading into a very, very
18:58
tumultuous time here in the next four months.
19:00
We just had an assassination attempt on a presidential
19:03
candidate. OK, let that sink in.
19:06
And I was watching TV last night and it kind of like has faded
19:09
out of the consciousness already.
19:11
That is real. OK, that's a big deal.
19:13
We could be in for who knows what could happen in the next
19:17
four months. I'm just telling you right
19:19
Buckle blow up buttercup, because it could get very, very
19:23
interesting. Now on that note, what's going
19:25
to happen to the silver price and the gold price if we do?
19:29
And some people are saying, oh, it's like a sure thing now we're
19:31
going to have Trump dance as president and vice president.
19:35
What do we know about what they're planning and how will
19:38
that impact the price of silver and gold?
19:41
Let's talk about that. Let's talk about it right now.
19:44
We got a couple articles to look at that'll give us some clues,
19:47
but we'll. Really.
19:49
Analyze what's going on says right here, Trump reveals his
19:53
key pillars of Trump anomics. All right, this was before the I
19:57
can't still can't believe we're saying this failed assassination
20:01
attempt. Before the catastrophic first
20:03
presidential debate, Donald Trump gave a Bloomberg article.
20:06
He laid out his his ideas OK in yellow #1 enforce huge bilateral
20:13
sanctions. Even though he claims I don't
20:15
love sanctions, what we're talking about here are massive
20:19
tariffs being placed on imports coming into the United States.
20:24
That would be inflationary. OK.
20:27
And inflationary means gold and silver go up, right?
20:31
Inflationary means to a certain degree, that the value of the US
20:35
dollar goes down, down, down. Inflation is just another way of
20:40
saying higher silver and gold prices and lower dollar, right?
20:45
That you can, you can get it real complicated.
20:47
But you know, when you have inflation, that means your
20:50
dollar buys less, that means your dollar is less valuable.
20:53
When the dollar is less valuable, the value of silver
20:57
and gold go up, the real value. He would also allow Jeremy
21:01
Powell to serve out his term as the as the chair of the Federal
21:04
Reserve, which runs through May of 2026.
21:08
So, gosh, that's well, about a little over a little less than
21:12
the next two years. OK.
21:14
He would lower the corporate tax rate to as low as 15%.
21:19
Again, what will that do to the US to to, to, to the United
21:25
States deficit to our debt levels no longer plans to ban on
21:29
TikTok. We won't touch that.
21:31
He would consider Jamie Dimon to serve as the secretary of the
21:36
Department of Treasury. That means we're talking about
21:38
getting rid of Janet Yellen. And he's ambivalent, if not
21:43
outright hostile, to the idea of protecting Taiwan from Chinese
21:48
aggression and to US efforts to punish Putin for invading
21:53
Ukraine. Wow, Wow, Wow.
21:56
OK, very interesting. Now let's go over and look at
22:00
what about let's? Do a little.
22:01
Investigative work on JD Vance. OK, this comes from our friend
22:05
John Little. At the silver.
22:06
Academy, the Silver industry, substack.com.
22:09
There's a link where you can subscribe.
22:10
Subscribe to that in the description of this video.
22:12
It's free. I'm not making a Commission off
22:14
it. I just really love John and the
22:17
and the content that he puts out every single day regarding
22:22
silver, gold, the precious metals and world events.
22:26
And VP JD Vance promotes devaluing.
22:31
Wait a minute. VP JD Vance promotes devaluing
22:34
the US dollar to boost US exports and U.S. jobs.
22:38
This means an explosion in commodities.
22:43
OK, here. Here's a quote apparently from
22:45
JD Vance. Devaluing, of course, is a scary
22:48
word, but what it really means is American exports become
22:52
cheaper, and that's important, Vance said in April.
22:55
If you want to employ a lot of people in manufacturing, you
22:59
need to make it easier for us to export and not just import what
23:04
we need. I don't know how you feel about
23:07
that. I kind of agree with that, but
23:11
the the fact remains, again, if we're talking about devaluing
23:16
the value, the value of the US dollar, right?
23:19
And that's relative terms, right?
23:21
The, the right now we're the prettiest turd in the toilet.
23:25
But if we're going to devalue the US dollar in relative terms,
23:28
it's going to be extremely supportive to the gold price.
23:32
OK, here. Let's just quickly run through
23:35
these. JD Vance is the running mate is
23:39
express support for devaluing the US dollar.
23:41
This position aligns with a more aggressive US first Rust Belt
23:46
first policy that the almost for sure thing winning ticket Trump
23:50
and Vance will pursue. OK, the main point boost
23:53
exports. OK, weaker dollar will boost
23:56
exports economic strategy, but this approach is part of a
23:59
broader economic strategy aimed at revitalizing American
24:03
manufacturing and potentially creating more jobs in export
24:07
oriented industries. OK alignment with Trump's
24:11
policies. Vance's positions on dollar
24:13
devaluation appeared to complement Trump's previous
24:17
focus on reducing trade deficits and promoting American made
24:21
goods. Potential impact on, come on.
24:23
They're all missing something though, guys.
24:26
And this is like the double bonus for the silver and gold
24:30
price. Can you guess what they're
24:32
missing? There's a big thing all
24:35
everybody's missing and it's going to may have a major impact
24:39
on the silver and gold price as we go into the next two years.
24:43
One year, five year, 10 years point #4 potential impact on
24:48
commodities. Silver Academy's John Little
24:50
states quote this policy stance will lead to a mega trend in
24:54
commodities as a weaker dollar typically makes dollar
24:57
denominated commodities more attractive to foreign buyers.
25:01
OK, megatrend. All right, there's something
25:05
hello. There's something.
25:08
They're all missing. There's a big, big point they're
25:11
all missing that's going to have a major impact on the metals
25:14
market. I'm going to share that with you
25:16
in just one second, but we have one more.
25:19
One more from like, you know, the smartest guy in the room,
25:23
Egon van Gyaris, right? The guy from Gold, Switzerland.
25:27
Let's see what he says about gold and it'll affect silver as
25:32
well. In the Trump administration.
25:34
He says some pretty powerful things.
25:36
This is from Twitter X. He says the deep state was never
25:40
going to make it easy for Trump. First he got the jail card, but
25:43
the Supreme Court got him out of that.
25:45
Then the assassination card. But luck was on his side.
25:49
But it's not over till the fat lady sings.
25:51
Next could be the war card. This is scary, right?
25:54
We don't want this. But a major war with Russia
25:58
could lead to a state of emergency so-called to cancel
26:03
the election. Or the vote card, which is used
26:07
regularly to easy mislay a few Republican votes.
26:10
But whatever the tarot cards say, markets will tell us the
26:14
truth in the autumn of malaise. We'll see #1 much lower stock
26:20
markets. He's he's got.
26:22
Some some bold. Predictions here.
26:24
Number two, higher interest rates.
26:27
OK, that goes in the face of what the mainstream media say.
26:30
No, interest rates are coming down.
26:31
The feds going to cut rates seven times in the next year and
26:34
a half. The feds going to cut rates
26:35
eight times next year. You know, the the Fed rate will
26:40
be at 3.25 or 3.75. So he's he's stay and and again,
26:45
that is not necessarily bad for golden even goes to say this
26:49
considerably higher gold and silver prices.
26:53
Time to think about wealth preservation.
26:55
And again, guys, just because, right, if indeed we do get like
27:03
situations unfold where the Fed doesn't lower rates, that is not
27:07
automatically bad for the silver and gold.
27:10
Price, OK, we could have a situation where we have out of,
27:15
you know, another spig major spike in inflation, major
27:18
geopolitical events, who knows, right?
27:21
But as you look at I want you to think about this, right?
27:24
What are all these people missing when they're talking
27:27
about? Trump's economic policy, Vance's
27:31
economic policy. What's the ear Egon?
27:34
You know, they're all looking at the at kind of the surface of
27:37
what's going on. But did you did you notice?
27:40
But nobody's talking about, nobody's talking about the fact
27:44
that Trump, Vance, President Biden, for that matter, nobody's
27:48
paying attention to the big massive elephant in the room and
27:53
that is the US national debt. We've got a debt problem.
27:57
They can talk about, oh, we're going to do this, we're going to
27:59
do that, We're going to. But it's as the foundation
28:03
underneath everything is crumbling right now.
28:06
I mean, it's just the kind of the, the reality of what's going
28:10
on. Nobody's talking about the
28:12
massive, massive debt issue and how to deal with that, right?
28:16
And you know who's talking about it though?
28:18
You know who's noticing besides you?
28:20
You're noticing, I'm noticing. But if you noticed that somebody
28:24
else is noticing as well, the oldest and smartest market in
28:30
the world, the precious metals market, the gold market, the
28:33
silver market, they're noticing what's going on.
28:36
Do you? Does that partially explain to
28:39
us why we've got record, all time high record highs in gold?
28:44
We've got silver. It's only been higher than where
28:47
it is right now, what 2 or 3% of the time out of the last 50
28:52
years. Does that, does that explain,
28:55
you know, what's happening? I think it does.
28:57
I think it does. Hey guys, don't forget we got a
29:00
big giveaway going on on August 31st.
29:03
I'm going to show you quickly here.
29:07
We got 3 Coca-Cola silver bars. This is from our friends at
29:11
Pembacs. This is a 10 oz bar.
29:14
On the left the middle is a 5 oz bar and a one ounce bar on the
29:18
right. Don't forget if you want to, if
29:20
you want to enter the giveaway, there's a link in the
29:23
description of this video which will explain to you how to do
29:28
it. It's very simple.
29:29
There's a 2 minute video that you go to and all you have to do
29:33
is on that video write the words.
29:35
Thanks Pembacs in the comments section.
29:38
So that's what's going on, right?
29:40
The gold and silver markets, they're they're realizing what's
29:43
happening while the all the other markets are kind of
29:47
asleep, right? The mainstream media is asleep.
29:51
I'd say the stock market's asleep, right?
29:53
We got all time highs in the stock market.
29:55
Everything's great. Nobody don't, don't look over
29:58
there. Everything's wonderful when the
29:59
reality is under the surface. Things aren't that good in the
30:05
economy, right? Things are very scary when we
30:09
take a look at the amount of debt that we have in this
30:11
country. I won't pull up the US debt
30:13
clock, but you know, I know, right, How massive it is.
30:17
I'm going to, I do need to pull up our banner to say thank you
30:20
to all of our sponsors. Thank you guys for being here
30:23
too. Thank you for the Super chats,
30:25
it's incredible what what is going on think about this.
30:30
With silver and gold, they're the smartest people in the room.
30:35
They're the smartest markets in the world.
30:37
OK, Absolutely. There's no.
30:40
Doubt about it. But here's another thing, right,
30:44
that we can easily forget about. We can talk about the US stock
30:46
market. We can talk about the US dollar.
30:48
We can talk about the euro. We can talk about the Japanese
30:52
yen. We can talk about Putin in the
30:54
ruble. We can talk about.
30:55
But think about this when it comes to silver and gold, and
30:59
there's very few assets that you can say this about.
31:03
They are universal, OK? You can talk about all these
31:06
little things and they can get very confusing.
31:09
But but the one universal form of money, right?
31:14
That's that's valuable everywhere is gold and silver.
31:19
But what does that mean, right? That means that means to me.
31:22
And I thought about this this morning and I want to get your
31:25
thoughts on this as well. Since they are this powerful and
31:29
they're timeless, right? They're the longest form of
31:32
money. They're the universal form of
31:34
money. So wouldn't that wouldn't, would
31:37
it make sense for us to consider the fact that they're also the
31:42
most, how would I say this? The the purest market, They're
31:46
the they're the most. Subjected to what is a pure like
31:51
market forces. Pure market forces, right?
31:53
We know the dollars. Not really.
31:55
You know, we all like to talk about gold and silver being
31:58
manipulated, but doesn't it make sense that since they are
32:01
universe? Nothing else is universal.
32:04
The dollar is probably the closest currency to a universal
32:08
currency, but I don't think they like it in in Russia right now.
32:12
I don't think they like the dollar in North Korea.
32:14
I don't think they like the dollar in Iran.
32:16
I don't think they really like the dollar in China all that
32:19
much either, right? Gold is universal.
32:23
Silver is universal everywhere. It's also the oldest we're going
32:31
to talk about this. It's, you know, this is the,
32:34
the, the mother of the elephant in the room.
32:37
So would it make sense that those two assets are the are,
32:40
are are the are subjected to the purest form of market forces,
32:47
right? The, the, the, the United
32:49
States, right, maybe doesn't like the fact that gold's going
32:53
up, but since it's a universal asset, they can't really, they
32:57
can't really, really control gold, right?
33:01
It's like trying to damn the ocean, right?
33:04
Maybe you can dam a river temporarily.
33:06
Even that will never really last forever.
33:08
But gold and silver are, are affected by universal forces,
33:13
which is much different, right? The, the stock market, the
33:16
dollar, the real estate market, the all that stuff.
33:20
It, have you ever thought about that?
33:22
Does that make sense? And I think that's, you know,
33:25
that that can make us feel good about the fact that we do decide
33:29
to use gold and silver to protect ourselves, to protect
33:33
our money. Unbelievable.
33:35
Great conversation last night between four of the smartest
33:40
guys in the room, Peter Grandich, Andy Scheckman, Greg
33:43
Weldman and Vince Lanchey. Actually, I think all four of
33:46
those people have been guest here in the basement.
33:49
They said some things that absolutely knocked my socks off
33:52
and I'm going to do my best without.
33:54
If I slaughter anything they said, I apologize, but they made
33:57
some points. It's on Peter Grandich's
34:00
channel. I'd highly recommend you watch
34:02
it. I think it was called Dream Team
34:04
Two or something like that. These are the these are the,
34:08
the, the, the gurus in the silver and gold sector.
34:12
Here's a couple things they said.
34:13
OK, think about this. Massive numbers of central banks
34:19
are buying gold. They're not selling gold.
34:23
OK, When's the last time you heard about any material sale of
34:28
gold by central bank? I think Turkey or Egypt, one of
34:31
them did about a year ago because they were having a
34:33
financial situation and they actually wanted to get that gold
34:37
into the hands of their citizens.
34:39
But on. Top of that, when you just look
34:41
back over the last five to 10 years, not only are they buying
34:45
gold, but they're also repatriating their gold.
34:48
They're calling up London and saying, hey, boys, ship us our
34:52
gold back. We don't want you to hold it
34:54
anymore. We're going to hold it for
34:56
ourselves. They're calling the New York Fed
34:58
saying, hey, guys, And it really kind of started with Germany, I
35:01
don't know, 8-9 years ago. And it took like four years for
35:04
them to get their gold back. But nonetheless, the world
35:07
central banks are buying their but not selling.
35:10
Buying massive amounts of gold. And repatriating massive amounts
35:16
of gold. Don't forget, guys, OK?
35:20
Don't listen to what they say. Watch what they do in the world
35:25
central banks. They are the insiders.
35:28
Insiders, right? They are the, the, the, the,
35:31
the, the smart and smart money. They set the World Economic and
35:37
monetary policies. What are they saying?
35:40
Who cares? Who cares what they're saying?
35:43
What are they doing? That's what's important.
35:46
And they're they're hoarding gold right now.
35:49
OK, Andy Scheckman brought up the point, OK, that there were
35:56
just some big meetings and Russia, remember the bricks
35:59
thing, that's the that's going on in Novigrad.
36:01
And there was some type of announcement afterwards.
36:04
They're really, really eluding to the fact that they're want to
36:07
have a trade settlement currency within the bricks nations that
36:12
will be backed at like people are saying 40% by gold.
36:17
And what do they mean by a trade settlement currency?
36:19
They don't want to use the dollar.
36:21
There's big implications for that, right?
36:23
They're selling U.S. Treasuries, buying gold.
36:25
We've been down that path. What does it mean as a trade
36:28
settlement currency? It means that if two countries
36:30
are trading with each other and one of the it's not an even
36:33
trade. OK, You know, I trade you, you
36:38
know my minivan and you give me your motorhome.
36:41
Well, I owe you something, some money.
36:43
Do you want some dollars? Do you want an IOU from me or do
36:46
you want some silver and gold? You'll probably take the silver
36:48
and gold. And that's what the trade
36:50
settlement currency is. It'll allow countries that have
36:53
an imbalance in their trade when they go to settle to settle in
36:57
this currency that they're talking about being backed like
37:00
40% by gold, right? And what's interesting and what
37:04
plays into the fact that this very well could be happening are
37:09
a couple of things, right. You've got the Bank for
37:11
International Settlements that what just a couple years ago
37:15
made gold a tier one asset. But when we're talking about
37:19
this, this this settlement currency that could be backed by
37:23
gold, what we're also talking about is these countries would
37:26
be able to hold gold internally in their own country.
37:30
Yes, of course it would be audited, right.
37:33
And it would be the basis from which this trade settlement
37:36
currency would would work from, but it would be audited.
37:40
It wouldn't have to have like, oh, we need you to put it all in
37:42
China or put it all in Russia about no, the countries can can
37:47
independently hold on to their gold, right.
37:49
We're even here in, like some of the Western European countries
37:53
have alluded to, doing this type of thing in the past.
37:55
There's a real interesting statistic that shows that when
37:59
you compare the size of the year Western European economies to
38:02
each other, it's also very much equal to the amount of gold that
38:08
each of those countries hold in their central banks.
38:11
I haven't heard anybody talk about that for a while, but it's
38:13
fascinating what's going on right now out there in the
38:16
world. They are talking about when they
38:21
this is. And I think Vince Lanchey
38:22
brought this up during the conversation when they first
38:25
started to try to to develop this bricks gold backed
38:30
currency, whatever it's going to be called, right?
38:32
It's still a lot of people. Nobody knows for sure.
38:36
So I'm not saying this is absolutely going to happen.
38:39
In my opinion, other people may have a different opinion, but I,
38:42
I heard several people say this very interesting that when they,
38:46
when they first started to attempt to, to develop this
38:50
trade settlement currency, initially they were talking
38:53
about backing it with all types of different commodities, oil,
38:57
wheat, gold, silver. But what they discovered was it
39:01
was way too complicated, right? And when what they wound up like
39:05
settling back to was gold, right?
39:08
People say, well, why don't they back it with oil?
39:10
Oil is very complicated. There's all different.
39:12
Oh, thank you, Susie. OK, Susie's battery died.
39:16
Hey, I need to ring the cowbell. Then we're going to get back to
39:18
this 200 thumbs up, man 400 people here on a Wednesday
39:23
morning and we're going to go check the gold price here in a
39:25
second. But this is for you basement
39:28
dwellers. Whoa, uh oh.
39:33
Hope I didn't disconnect anything there.
39:34
Hopefully you guys can still hear me and see me.
39:39
They settled back on gold, right?
39:41
Hey, look, when I was younger, I was like 23 years old as an
39:44
accountant, I worked briefly for an oil company here in Saint
39:47
Louis. Clark Oil.
39:48
Who remembers Clark Oil State? Anyway, we had refineries.
39:51
We'd buy crude. It was a cluster bomb trying to
39:55
do accounting for oil. It's a big mess, trust me.
39:58
OK, so it makes sense to me. So what are they going back to?
40:02
They're going back to gold. And silver will benefit from
40:08
that, OK? Silver will benefit.
40:11
Putin's been hoarding gold. I don't know since what 2008,
40:17
right? It's happening, guys.
40:19
It's happening right now in our world.
40:22
On a separate note, and this wasn't discussed last night, if
40:26
you guys heard of Gold 247, it's this movement by the World Gold
40:31
Council and in conjunction with the LBMA where they're trying
40:37
to, they're not trying to, they're going.
40:39
To digitize gold, right? I mean, and make it very
40:43
transparent, very audited, very respectable.
40:46
Things are happening right now in this world.
40:49
Crazy, crazy things are happening with.
40:52
Gold and it's going to affect silver.
40:54
Okay. And then one of the speakers
40:57
last night brought up the fact how does all this fit in with
41:00
Project Enbridge, right? This, this the big the deal
41:04
going on with the Bank for International Settlements that's
41:07
got China and who else? Thailand.
41:10
Saudi Arabia, apparently there was just a big meeting in
41:13
Russia, okay, and they're having a big bricks meeting later in
41:17
the summer and the Saudis sent some of their top finance
41:21
ministers. Guys, this is happening in.
41:23
Oil. Totally plays into this.
41:26
I don't oil is like the the biggest commodity in the.
41:29
World it's the blood of the US economy what what we're going to
41:33
see and it's can be a little hard to understand even I can
41:36
get it sometimes you ever have that happen something makes
41:39
sense but oil. The relationship between oil and
41:43
gold is going to make a big, big difference going forward, OK?
41:47
Because the oil market is huge, right?
41:49
And you've got Russia, you've got Saudi Arabia, you've got the
41:52
BRICS countries that are going to be repricing gold in oil
42:00
terms or oil in gold terms, depending on how you want to
42:02
look at it. It's going to be we're in for
42:05
some. We're in for some interesting,
42:06
interesting times in this world, OK.
42:12
Another thing that was brought up, did you know, I didn't know
42:15
this, but I think it's 5759 now countries want to join the
42:20
bricks want to move away from the dollar, right?
42:24
Want to use potentially gold and silver will benefit from this as
42:31
a as a way to to settle trade amongst themselves, right.
42:36
The imbalances, trade imbalances, gold and silver.
42:39
OK, great. Weldon brought up this.
42:42
It's unbelievable. The and.
42:44
I can't even. Begin to remember everything
42:46
that he said. But the countries, when you look
42:49
at the gold price like over the last five years, eight years in
42:52
all these different countries around the world, like Canada,
42:57
every China, every, all the a massive list of countries, the
43:01
gold prices like doubled or tripled in almost all these
43:04
foreign currencies. And it got me thinking, it's
43:06
like, but not in the US dollar. I mean, it's gone up in the US
43:10
dollar, no doubt. But the US dollar is like the
43:13
synthetic dollar in like the Fed in the US is it feels like, do
43:17
you, does this, does this feel this way to you?
43:20
Like the US is like grasping, like holding on to the Cliff
43:24
with their hands, right, holding on to the dead tree as they're
43:27
hanging over the Cliff, trying to hold on to the hegemony of
43:31
the US dollar. It I mean, it's, it's just, it's
43:34
unbelievable. Silver will react when all the
43:37
gold is gone. This is interesting.
43:39
This gets interesting. Even Keith Newmar, They brought
43:43
up Keith Newmar during this one. When all the gold is gone, what
43:47
we'll see is that silver will revert to its natural ratio.
43:53
Somebody brought up 15 to one. Let's get our calculator out
43:57
real quickly here and see what that would be.
43:59
Let's go check the gold price. Maybe it's down.
44:01
We always. Keep going back.
44:03
Let's let's go, let's go check the gold price at our friends.
44:10
Pin backs. Channel sponsor Pin backs.
44:12
OK, Last we checked, we were up 1373.
44:15
You never know, guys. It could be read.
44:17
Now, long term, we're fine. I'm going to press the magic
44:20
button. Yeah, we're up $0.72 silver,
44:24
down $0.74. What?
44:26
What? OK, we're going to talk about
44:29
that in a little bit here. Gold 2468 OK, So if we had if
44:36
all the gold's gone, OK, all get sucked up by the central banks
44:41
and we had 2478 gold price and divide that by 15 OK, that would
44:51
make can you see that that would make $165 per oz silver in the
44:59
current a gold price environment at a 15 to one gold to silver
45:04
ratio. OK, But it gets even crazier
45:08
because when all the gold's gone, silver revert.
45:10
Keith Neumeyer talks about the fact that right now, right now
45:14
the mining ratio in this country is 7 to one, right?
45:19
That means that for each one ounce of gold that's produced
45:22
every year by the mining companies, only 7 ounces of
45:26
silver are produced. That would make who knows 3.
45:29
180. Dollar per oz silver in the
45:33
current environment, right? If we got to a 7:00 to 1:00,
45:37
we'll have to see how it all plays out, what we're seeing
45:39
right now. Let's touch on this.
45:41
Yeah, apparently silver's getting slaughtered today, $0.70
45:44
down. Silver is volatile, guys, and
45:49
this is not out of the norm for what we've seen here.
45:52
What over the last, I don't know, 8-9 weeks especially, but
45:58
really over the last three or four months, big moves up in the
46:00
silver price, big moves down in the silver price.
46:04
But I want you to remember, have you noticed something, right?
46:07
And until this changes, right, we can take some solace in this.
46:11
The trend has been up, up, up. OK, so right, we love the days
46:18
when silver goes up a dollar. We love the days when silver
46:21
goes up $0.64. But along with that is we're
46:25
going to have days when the price goes down significantly as
46:28
well. So don't freak out.
46:31
You know, I was talking to my friend Don last night.
46:34
Don Wedding, who's this super smart statistician guy?
46:38
You may remember he was on he's a professor at one of the top
46:42
universities in the country, statistics professor.
46:45
This guy's nose things. He was talking and I agree with
46:48
him. I only had a few minutes to chat
46:50
with him last night, but he was, he said basically.
46:53
Like I'm not too worried about the silver price.
46:57
Until it gets to like $27.00 per oz.
47:00
We could get a pull back to that range if silver gets below
47:03
272725, maybe even $26.73, right?
47:11
Anything below $26.73 I'm I'm starting to get a little
47:16
concerned like OK, maybe we were wrong, maybe, but.
47:19
We we could have some pull backs.
47:21
I'm not predicting it. Right, right now, let's remember
47:25
what we are having right now is a premature fall rally in the
47:30
middle of summer. All right?
47:32
Can it continue? Will it continue?
47:34
We don't. We don't know for sure, but it
47:37
definitely can continue. And right now, you know, right
47:41
now, let's go look one more. Time.
47:45
Let's go look. OK, we're still above $30 per oz
47:50
on the silver price, $30.50, so hang in there, OK?
47:55
I know it's no fun when the silver price goes down.
47:58
I wish the magic button would have gotten us a better price,
48:00
but who knows right? OK, the Shanghai Gold Exchange
48:05
is being drained. They brought at this point.
48:07
Think about this. The Shanghai Gold Exchange is
48:10
being drained of silver. In particular, the COMEX is
48:15
being drained of silver. The LBMA is being drained of
48:19
silver and we forget about this. The ET FS are being drained of
48:24
silver. Where will the silver come from?
48:27
Everything is being exposed right now.
48:30
And that will include the real price of silver.
48:34
OK? Greg Weldon said it's not now.
48:36
Now it's not a matter of of will silver get to $50.00 an ounce.
48:40
It's more a matter of how soon can it get to $50 per oz.
48:45
And what do you think the rest of the world is thinking of the
48:47
United States right now? We've got this, the situation
48:51
that happened with our presidential candidate a few
48:54
days ago, trillion dollars in debt being the world is laughing
48:59
at the United States. Unfortunately right now our
49:03
president is is struggling. Our current president is
49:06
struggling. I think the world sees that.
49:09
Unfortunately, guys, we we are temporarily become kind of the
49:13
laughing stock of the country, OK?
49:16
And they're selling our debt, they're selling our dollars.
49:20
And what are they doing? They're buying gold.
49:23
And soon, right when all the gold's gone, they'll be buying
49:26
silver as well. OK, I think we're heading and
49:30
this is this is this is critical for us to understand.
49:33
And a couple of the guys last night, I think it was Greg
49:36
Weldon mentioned this. I think we're potentially
49:39
heading into a 1970s style stagflationary environment.
49:46
If there's anything that is conducive to supporting higher
49:51
precious metals prices, it is stagflation.
49:54
Look back at the 70s. Look back.
49:56
Remember the chart earlier when silver went, silver went from
49:59
like a buck. 50 to 50. Dollars, right, But there was a
50:03
short period of time where it went from like 4 or $5.00 an
50:05
ounce up to $50. It can have explosive results on
50:10
the gold and silver price stagflation, right?
50:13
Stagnant economy sure kind of feels that way, doesn't.
50:18
It when you're out there working and living in this country,
50:22
stagnant economy coupled with inflation.
50:25
All right guys, thanks for being here.
50:26
I appreciate you being part of the basement.
50:28
Please don't forget you can support our sponsors PINBEX,
50:34
pinbex.com Don't forget go register for the.
50:38
Giveaway that'll be on August 31st.
50:40
I will not. There are scammers out there.
50:43
Don't fall for scammers when it comes to giveaways.
50:46
Anything you get, you know, you probably are used to this, but
50:50
there's impersonators that it will I, we will not contact you.
50:53
We are not giving away anything until August 31st, the 10 AM
50:57
live stream. So if somebody contacts you
51:00
saying hey, you want the giveaway, it's a scammer.
51:03
We're doing our best to stay on top of it and to ban them from
51:07
the channel, but these people are insidious.
51:10
But do if you do want to get your hands on some silver gold
51:13
right now, go check out Pendex. OK, Thank you to 1st Mining
51:16
Gold. Thank you to Fortuna Mining,
51:18
most importantly. Thank.
51:19
You for being here. OK.
51:21
It's a big deal when you join us here in the basement.
51:25
We appreciate you and we will look forward to seeing you again
51:28
soon. Have a great day.
51:30
All right? Be good to yourself and we'll
51:32
see you soon. Bye.
51:33
Bye.