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Silver and Gold Prices Surging: Here's What You Need to Know 💰📈 · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
$35 silver, $2600 gold. That's my forecast for the 2024
0:09
precious metals prices. I believe especially silver will
0:14
reach at least that level. But why?
0:17
We're going to talk about why in this video because there is so
0:22
much going on in the world right now.
0:26
We're going to build up the case as to why we could easily see
0:30
$2600 gold and $35 silver. Let's dig in right now because
0:35
we've got a lot to cover and I got a flight to catch.
0:39
First off, gold, silver, the bond market, inflation,
0:46
recession, there is so much hitting, so much coming
0:51
together, right? A confluence of factors which
0:54
are all not pleasant, but not of our individual making, but
1:00
factors that are coming together that are very supportive for the
1:04
silver price and gold price. I want to read you a little
1:07
update in terms of what the mainstream media, the mainstream
1:11
media, our friends are saying about what happened yesterday
1:15
with gold silver as well. It says as of 4:00 PM Eastern
1:19
Time gold futures basis, the most active December contract is
1:25
trading dramatically higher up $58.50 and fixed at $19141.00
1:35
per oz. Can you believe that?
1:38
It seemed like just last week we were hoping that gold would stay
1:42
above $1800 an ounce. We know it should be
1:45
significantly, significantly higher.
1:48
Same thing with the silver price.
1:50
Silver had a what, 4% update yesterday.
1:53
We know those prices, in particular the silver price
1:57
should be up in the 30 or $35 range already and it's going to
2:02
happen. And don't forget, I'm going to
2:04
give you a lot of the reasons why today in this video, today's
2:09
surge in gold pricing, but silver as well is the direct
2:13
result of attraction by market participants to move a portion,
2:18
just a portion into a safe haven asset.
2:23
This is the direct result of the current geopolitical conflict
2:28
between Israel and Hamas, which escalated tremendously on
2:32
Friday. Look, we know what's going on
2:34
over there, but I want you to think about a critical, critical
2:38
key, something that's going on right now that I didn't think of
2:42
until I heard Vince Lachie talk about this directly.
2:46
We have a shrinking portion of the world that is looking at the
2:51
US dollar and U.S. Treasury bonds as a safe haven
2:55
and they're looking for other avenues where they can park
2:58
their assets during these times of great geopolitical strife,
3:02
which we are not happy about. Let's get that ground work laid
3:06
right away. But where they can put their
3:08
money to be safe. If you're in Russia, if you're
3:12
in China, if you're in India, if you're in Brazil, those
3:16
countries traditionally may have run to the US dollar.
3:19
They're not doing that anymore. And if even just a portion of
3:24
that money goes into the silver market in particular, you know,
3:29
the entire output of the mines creates only $20 billion worth
3:34
of silver per year. That's like a a fraction of a
3:37
fraction of a fraction of the amount of money that's going to
3:41
be looking for safe haven status in the same is true with the
3:46
gold market. Just a portion of the money that
3:49
traditionally would go to the dollar or treasury bonds could
3:53
be finding its way into the precious metals market.
3:56
And you know, again, we don't like what's going on in the
3:59
world and we didn't create what's going on in the world.
4:02
But we know one thing for sure and that is that silver and gold
4:07
have been the safe haven assets of choice for thousands and
4:11
thousands of years, 45000 years. Not like Bitcoin or
4:17
cryptocurrency that maybe have been around for 500 months at
4:21
the most. If even.
4:22
No what what would that be, Ron? Maybe 1000 months, right?
4:28
We're talking about thousands and thousands of years of safe
4:31
haven status and with everything think of that context of
4:34
everything going on in the world just a itty bit, just a tiny
4:38
little bit of that money going to the going to the silver and
4:44
gold market could be explosive. OK, we've got war in Palestine.
4:51
We've got war in Europe. OK, Israel.
4:55
We have a potential for major conflict in Asia with China.
5:01
Everywhere we look. Think about where the world
5:04
stands today compared to five years ago.
5:07
And I don't want to scare you. I don't want to be a doom and
5:09
gloomer. I don't have to be a doomer,
5:11
gloomer. Just turn on CNN or read what's
5:13
going on in the last five years. Think of those three areas.
5:17
Europe. OK, Israel, the the the Asia
5:22
with China. And then on top of that think
5:25
what else happened in the last five years.
5:27
What other major crisis have we dealt with?
5:29
Yes, the C19 crisis. I was thinking of that earlier.
5:32
I was taking a shower. I was like how did all this
5:35
stuff happen in just the last three years?
5:39
Things are happening much more quickly and they will continue
5:43
to happen much more quickly and at a more severe level.
5:47
So as the world again, I want to hammer this point home because
5:51
it is, it's horrible news what's going on in the world.
5:55
But we can't control that. What we can control is how we
6:00
decide to safeguard what assets we have.
6:03
And as all these things unfold, and as fewer and fewer people
6:07
are looking to the dollar as the safe haven asset of choice, the
6:11
logical recipient of much of those incrementally increasing
6:17
funds would be precious metals. And did we see that on Friday
6:21
when gold was up $60.00 an ounce?
6:23
At one point, I would argue that I think we did silver up almost
6:28
$1.00 per oz. Don't forget our friend silver
6:32
has been money held value longer than even gold.
6:37
So it continues to get very interesting in another key point
6:41
that you don't hear a lot of people talk about, but we want
6:44
to talk about we know inflation is good for the precious metals
6:49
in the end inflate. That's what the precious metals
6:52
do. They protect you against
6:54
inflation, against the devaluation of Fiat paper make
6:59
believe Unicorn fart dust. I can even say that my basement
7:02
dweller friends and thank you all for being here all 200 of
7:05
you on a Saturday morning. Wow, I'm the lucky 1 inflation.
7:11
Inflation. But nobody talks about what is
7:14
this, what does this mean to you when you hear inflation?
7:17
Yet what do you think war does? It's a proven fact if you look
7:22
at any long term chart, one thing besides the all the other
7:27
horrible consequences of war is inflation.
7:32
War times always bring on inflation.
7:35
And I want you to think about this as well.
7:38
We were already in a really horrible spot.
7:42
The Western economies, the United States, we were already
7:46
in a horrific financial condition before all these wars
7:51
broke out. What are we going to do or what
7:53
kind of a condition are we? We were already teetering on the
7:57
edge, potentially, but now the United States will be funding
8:01
the European war that's going on.
8:03
We'll be helping and funding the the the situation in Israel
8:07
going on. What if something breaks out in
8:10
Asia? Where's this money going to come
8:12
from? It's going to have to be
8:14
printed. It's always been that way.
8:16
It's always been inflationary, and it could spell real trouble
8:21
for the US dollar. We need to get some politicians
8:24
in Washington who can get their darn act together.
8:27
I'm telling you, Andrew Jackson, Thomas Jefferson, they're
8:32
rolling over in their graves right now with the mismanagement
8:36
that's occurred by our supposed leaders in Washington.
8:42
Are we going to see escalation, Okay?
8:44
Well, are we going to see escalation of inflation?
8:47
What did we hear on last week about inflation?
8:50
Inflation is going up, Okay. Are we going to see escalation
8:55
in these conflicts. the United States is sending a second
8:58
aircraft carrier to the Middle East area.
9:02
It's not looking good. I don't want to be doom and
9:04
gloom, right. We talked about the fact that
9:07
big things were going to continue to happen and they were
9:09
going to happen at a continuing faster rate.
9:13
Lynette Zang talked about that when I talked with her 6-7 weeks
9:17
ago. And it's happening right in
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front of our eyes. It's not pleasant.
9:22
It's not nice to see what's going on in in two parts of the
9:26
world right now. But we need to be aware and if
9:30
you want to protect your assets, you know what you need to do.
9:32
And this is a great chance for me to tell you if you do want to
9:35
get some silver or gold, if you're considering buying some
9:38
silver or gold, check out Pinbex Pi, MB EX Pinbex.
9:44
I like to spell it. I like to say it.
9:46
And I like to buy silver, in my case from Pinbex.
9:50
You guys told me about the company.
9:52
I researched them, gosh, nine months, six months ago.
9:56
I thought it was a great opportunity to buy silver, in my
10:00
case, at a very good price, the lowest premiums I could find.
10:05
And they fulfilled all my expectations.
10:07
Pinbex has great quality, great customer service and their
10:11
prices in my opinion are always, if not almost always the best.
10:15
SO check out pin backs if you're looking to buy some silver, gold
10:19
or platinum. Now let's move on.
10:21
Here's some interesting here. What will impact gold and
10:24
silver? What as we move into this next
10:27
year, what do you think will impact the precious metals
10:31
prices, the bond market? And we're going to talk about
10:34
what's going on there because it is crazy inflation.
10:38
We just talked about that inflation is not letting up.
10:42
We are likely A lot of people say we already are moving into a
10:46
second wave of inflation. And with all these wars breaking
10:50
out around the world with everything, we could be standing
10:54
right now on the precipice of another major inflationary
10:58
surge. Okay U.S. government
11:01
dysfunction. Our government is a mess.
11:04
The Republicans, what they're doing is a mess.
11:07
This is not a political show. The whole thing is a big, big,
11:11
big mess. Don't forget, right We and we
11:14
gave these wonderful, responsible people in Washington
11:17
an open credit card. We suspended the debt limit.
11:20
We didn't raise the debt limit. We suspended it for more than
11:24
another year. Going forward, they can spend as
11:27
much as they want. And there's some crazy statistic
11:30
I'm going to share with you in just a second about how they're
11:33
doing. Just that.
11:35
Yes, your money. My money money.
11:38
You could be buying shares of first mining gold with or buying
11:42
silver from Pimbex. No, you're you're you're you're
11:45
trusted politicians. For those of you in the United
11:48
States, actually I'm in Canada right now.
11:50
Canada, Toronto, believe it or not for the next few hours.
11:54
But but your politicians are spending your money.
11:58
They're having a great time doing it.
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When I tell you this latest statistic, it is jaw-dropping.
12:05
OK, get ready for your jaw to drop.
12:07
And we need some thumbs up, guys.
12:08
When we get to 100. Thumbs up.
12:10
I'm going to ring the mobile bell, So hang in there with me
12:13
here, War. We talked about that.
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That'll affect the silver and gold price.
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Sorry, but it will. OK, And what about debt, right?
12:25
What about debt? What about debt?
12:29
What happens to you if you get in too much debt, you get in
12:33
trouble. What happens to a country if
12:36
they mismanage their finances? They get in trouble.
12:40
The value of their currency in In The Wizard of Oz Jerome
12:44
Powell has done a great job. I'm a hats off to the Federal
12:49
Reserve for what they've done over the last 50 or so years
12:53
since the United States. Temporarily.
12:56
Temporarily went off the gold standard.
12:59
President Nixon, 1971. My hats off the old Wizard of
13:03
Oz. United States Federal Reserve.
13:07
They've done a pretty darn good job, wouldn't you say?
13:10
But guys, the gig is almost up. Thank you, Mike.
13:13
Sorry, I can't see really well for the Super chat.
13:16
I appreciate that. Super chats are super
13:19
appreciated. Super duper appreciated.
13:22
I got to get a flight home here. You know, never expected.
13:26
But thank you for the support. That goes a long, long way.
13:29
What about that? Listen to this.
13:31
Hold on to your jaws. Everybody grab your jaws in four
13:36
weeks. The last four weeks, the US debt
13:39
has increased by over half a trillion dollars.
13:45
I first wrote that and I said increased by 500 million.
13:49
And I thought, that's a lot. I thought, wait a minute, no,
13:51
that's over $500 billion in four weeks.
13:57
Okay. People are like, where are they
13:59
spending the money? Is it on the wars that are going
14:02
on in Europe? Guys, we have a war in Europe
14:06
right now. People are dying.
14:07
It's horrible. Absolutely.
14:10
We have a war in Israel. You know, that's all they do on
14:14
the TV. Is is, is, is show gruesome
14:18
video. I mean, you know, Can you
14:19
believe this is going on? And at the same time, our
14:23
government is spending your money, my money, your kids
14:27
money. You're at like drunken sailors.
14:29
What does that do in the end? What does that do in the end?
14:32
There's no other option. You print a bunch of money, you
14:35
make up, you dilute, right? You dilute.
14:40
You got a bottle of whiskey and you mix it with another bottle
14:43
of water. You're diluting the whiskey.
14:46
That's the exact same thing that the United States is doing to
14:50
the US dollar right now. There's a lot more to talk
14:53
about. OK.
14:54
The bond market, what does that have to do with the price of
14:58
silver and gold? It has to do everything with the
15:01
price of silver and gold. But let me tell you what
15:03
BlackRock, the world's biggest institutional investor, they put
15:07
the word institution into institutional investor.
15:12
What do you think they said about the bond market?
15:14
They said that the bond market route is not over, that we are
15:19
right now. Right now, people are starting
15:22
to wake up and recognize we are having the worst bond crash in
15:26
the history of the United States.
15:29
And where are all those bonds? That's right, they're on bank
15:32
balance sheets. They're in pension fund balance
15:35
sheets. Nobody's recognizing it, but
15:38
it's real. It's real.
15:40
And I got the stats here. Hold on.
15:42
Yeah, banks alone. Hold on to your jaw.
15:47
OK? Banks alone have $620 billion of
15:53
unrealized losses on their balance sheets.
15:57
That means they've lost $620 billion in value, OK.
16:02
And they don't realize it. They're on.
16:04
They're, they're in La, La land. They're at the Country Club
16:06
right now. OK.
16:08
I wonder, I just have a quick question for you.
16:11
If the banks have $620 billion of unrealized losses, right.
16:17
But if you show up and want your money back from the bank, they
16:20
may say, well, that's part of the unrealized losses.
16:24
So we can't give it to you, but I wonder the 620 billion in
16:32
unrealized losses, doesn't that match up with the over $500
16:37
billion of national debt that's increased in the last four
16:41
weeks? Maybe they took all that money
16:44
and shift shifted it over to the bank so they could cover all the
16:49
mom and pop people like you like me, like my parents, your
16:54
brothers, your sisters, your kids, whoever that have their
16:57
money in the bank and think that it's safe.
17:00
Not realizing that the bank when you gave them your money, they
17:04
bought a bunch of bonds three years ago that could at this
17:07
point be worth 50 or $0.60 on the dollar.
17:12
But they may have done something else with your money besides pay
17:14
their Country Club dues. They may have they may have
17:18
loaned it out on commercial real estate projects.
17:21
They they took a they took your 100 grand or your million if
17:25
you're rich, right? They took your money and they're
17:27
going to pay you 1%. And then they loan that money to
17:30
some real estate guy who was going to buy an office building
17:34
and make, you know, oh, you know, 5 or 10% profit per year.
17:38
The only problem is the commercial real estate market is
17:41
crashing now too, and there's huge vacancies.
17:45
So he's not making any profit on that on that piece of property
17:49
that he bought with your money. And the value of that of that
17:54
property has gone down as well. Somebody's trying to come into
17:57
my room here, so I may have to shoo them away in a second.
18:02
I told them I wasn't leaving just yet.
18:05
I'm a little distracted. I apologize.
18:07
You know, I'm not in the basement.
18:08
I'm in the bedroom here. So it's going to be an
18:11
interesting ride as we move forward.
18:14
Where will the money come from? Hold on here.
18:18
OK. This is interesting.
18:21
This is something that's that is not.
18:25
That is, you may not agree with the next thing I'm going to say,
18:29
but as we've had this worst bond market crash in history, OK,
18:34
will the Fed and we have inflation going up, think about
18:38
this, think about this. Will the Fed use the war
18:42
situation as an excuse for losing the inflation fight?
18:46
Because guys, they're losing the inflation fight.
18:49
It's a mathematical improbability.
18:52
Will they throw inflation to the curb and say, whoa, we have to
18:56
deal with this crazy stuff going on in the world?
18:59
You know, that remains to be seen.
19:02
But I think that's a real possibility that once they know,
19:06
inflate, mean and people. The conspiracy theorist out
19:10
there, I'm saying that. I'm not saying I believe this,
19:13
don't believe this. I just throw out to you all the
19:16
different perspectives that I see and other people see as
19:20
well. But a lot of the more conspiracy
19:24
theorists type people will say, oh, they create crisis when
19:29
there's, you know, financial trouble.
19:31
You know that in late 2019 we had some big issues in the
19:35
banks, repo and reverse repo and all these things were blowing
19:39
up, OK. And then and the market was
19:41
blowing up. And then suddenly in March,
19:45
there was this major health crisis.
19:47
Are they using war now to to avoid or to distract or to
19:54
provide a footing from which they could say something like,
19:58
well, we're losing the fight on inflation, but be scared because
20:02
the world's. Let's hope that's not the case,
20:04
OK? I'm not saying I think it is.
20:06
I'm just giving you all the different perspectives.
20:09
We got a lot more to cover, guys.
20:11
We got a lot more to cover. Let me read this to you.
20:17
Because it's interesting. This is from Reuters, and this
20:21
shows. Is the Fed ready to pivot?
20:23
What's going to happen when the Fed pivots?
20:25
Oh my gosh, hold on, I forgot we got to do 100.
20:28
Thumbs up. Let's get out the temporary
20:30
bell. OK, that's 10 rings of the bell.
20:44
One ring of the bell for each ten.
20:46
Thumbs up. Guys, please give this a thumbs
20:48
up. And hey, if you've not
20:49
subscribed, I don't beg for you to subscribe very often, but I
20:53
do put out new content every single day.
20:55
If you want to keep abreast and you want to make me and Coin
20:58
Shop Chris gets happy about it too, please subscribe.
21:01
Consider subscribing to the channel.
21:03
Thumbs up are very helpful as well.
21:06
Let's read the Fed When the Fed pivots, is the Fed done raising
21:10
rates? Are they telegraphing that
21:13
they're done raising rates? Let's read something from the
21:16
Philadelphia Fed. This is from Reuters.
21:19
Reuters Philadelphia Federal Reserve President Patrick Harker
21:25
said on Friday he believes the US central bank is likely done
21:32
with its cycle of interest rate hikes.
21:35
Let me repeat that. U.S. central Bank is likely done
21:41
with its cycle of interest rate hikes.
21:44
Yes, you heard that, and I read that correctly amid an ongoing
21:49
waning in price pressures. Quote.
21:53
Here's a quote absent a stark turn in what I see in the data
21:58
and hear from my contacts, I believe that we are at the point
22:03
where we can hold rates where they are.
22:06
Harker said. That in a virtual speech like
22:09
artificial intelligence to the Delaware State Chamber of
22:13
Commerce. Hmm.
22:14
Where will all the money come from?
22:18
Is where is is is what I'm asking.
22:21
When the when the hens come home to roost, and they always come
22:25
home to roost, I want to tell you a very powerful It's been
22:29
20-6 days since I've reminded you of this, all right?
22:33
And I think that you'll like this very simple statement, and
22:37
it applies so much to what's going on in the world financial
22:42
system and in the world of precious metals.
22:45
OK, Mathematics shows 0. Forgiveness on the altar of
22:52
truth. All right, you rack up too much
22:54
debt, you're going to pay the price.
22:57
OK, 2 + 2 always equals 4. Now, Jerome Powell had everybody
23:03
convinced for the last. You know, while Jerome Powell
23:06
and his predecessors for the last 50 years that 2 + 2 could
23:09
equal 5, or 2 + 2 could equal 6. But at the end of the day,
23:15
mathematics shows no forgiveness.
23:17
And that is, those are the waters we are going toward.
23:21
If you ever been whitewater rafting, it's nice and calm for
23:25
a while and then you hit some Rapids and I think possibly.
23:29
I don't make any financial decisions based on anything I'm
23:33
saying. I'm just giving you my opinion,
23:35
my opinion as somebody I love very dearly.
23:38
They say I'm giving you my opinion that that's what we're
23:42
heading. We're just now hitting the
23:45
Rapids and they are Class 4 Rapids that we are heading into.
23:50
We need to be prepared mentally and monetarily.
23:55
Because remember, just because we know that we're heading into
23:58
rough times, when the rough times hit, it can be a very
24:02
emotional period. I'm a very emotional guy.
24:05
I'm a sensitive Sally. I've told you guys that.
24:07
A delicate flower. That's why when you give me
24:09
thumbs up, it makes me so happy. I'm like a flag blowing in the
24:12
wind. OK, thank you to all the
24:16
moderators who are here today. If you, not the moderators, but
24:19
everybody else, wants to do something nice, say something
24:22
nice about the moderators, type 4 into the comments.
24:26
That would really be cool to let him know that you appreciate
24:29
what they're doing. Because you know, we want nice
24:32
people here and people that are that are joking around.
24:35
Fine. OK.
24:38
Joking around is great. Just don't be mean and don't be
24:41
too dirty, because the mod, we want this to be a nice,
24:43
productive area for all of us to come to.
24:46
OK. Oh, boy.
24:48
We got more to talk about. We got more to talk about.
24:52
How are you doing today, I hope. Oh, yeah.
24:54
You're doing good. Good, good.
24:56
I was in kind of a bad mood when I woke up this morning.
24:59
I already told you that. Four weeks.
25:00
All this dead. Hold on here.
25:02
OK. Oh, oh, oh, oh.
25:04
This is interesting. Jeff Christian from the CPM
25:07
group. He doesn't like people like me
25:11
cuz he's he's the smartest guy around, OK?
25:17
And he doesn't not like me personally, but people that do
25:20
what I do that give commentary on the silver and gold market
25:23
because he knows everything, OK and he's a smart guy.
25:26
We always want to consider what he is saying.
25:29
But let me tell you, I I was listening to him this morning
25:32
but he said something very interesting about gold and
25:35
interest rates and the dollar because all we hear is that, oh,
25:38
if interest rates go up, the gold's gonna go down, the dollar
25:42
will go up, gold will go down. No, guys, let's go back to the
25:45
you want to hear about astronomical returns and silver
25:48
and gold Go look at the 70s. And he brought up a great point
25:52
that interest rates rose significantly from 19.
25:56
And there's a kicker, there's a second level 3D chess, a concept
26:02
we're gonna talk about, but it's not that difficult.
26:04
I'll make it simple for you to understand.
26:07
Gold skyrocketed in the late 70s, OK?
26:10
Interest rates were going crazy during that period.
26:15
So it's not always the case that just because we have higher
26:17
interest rates and a stronger dollar that gold and silver have
26:22
to go down. It's just not the case, OK.
26:26
Investors were buying tons of gold during that period in the
26:29
late 70s. And what what's important is,
26:32
what's important is you need to understand why interest rates
26:37
were up and similar now to back then, it was because of
26:40
geopolitical issues. We had the Iran situation, We
26:43
had all kinds of situations going on all over the world.
26:48
We can get into a situation where if it's not just monetary
26:53
policy reasons why rates are going up.
26:56
If we have other extenuating circumstances like more debt
27:00
than we've ever had in the history of the world, more
27:02
conflict going on than any other time in the history of the
27:05
world, similar ish scenarios to what we saw in the 70s.
27:09
You can absolutely, and that's what Jeff Christian said, see
27:12
periods of time where both interest rates go up, the dollar
27:16
goes up and silver and gold go up.
27:19
And I have a sneaking suspicion that we might just be heading
27:24
into that situation right now. OK, on the on the economic
27:31
front, let's talk about a couple of interesting trends going on.
27:34
This is from Reuters. You know young people, are you
27:38
young? How old are you?
27:40
I'm 53 years old. How old are you?
27:44
Put it in the comments. I always love to see, if you
27:46
don't mind, not only any personal information, but if you
27:49
don't mind telling me how old you are.
27:51
Are the other people right? So we get a good feel for each
27:54
other, get to know each other a little better.
27:57
But what about the young people? This is from Reuters.
27:59
And what is this telling us? It says most young Americans
28:03
have cut their spending in response to persistent
28:07
inflation. But I thought the Fed had
28:10
inflation under control, right? OK, over the past year, a Bank
28:15
of America survey showed on Friday.
28:19
OK, now we're gonna talk about that in just a second.
28:22
But I wanna thank our other channel sponsor that makes this
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possible. First, mining gold.
28:28
I was actually here in Toronto meeting with the executive team
28:31
visiting one of their mines. First, Mining Gold is a Canadian
28:35
gold development company. They've got 25 million ounce
28:39
projects right here in Canada. I'm right here at the vault.
28:43
They've got that gold in the ground, OK.
28:46
They're working on getting projects permitted.
28:48
They're an exciting phase where they're where they're working on
28:52
getting the permits and and doing all the work That leads up
28:56
to permitting. And I got a little secret for
28:58
you. The big gold companies, they
29:00
have not invested in their pipelines.
29:03
The big gold mining companies, they're in a few years gonna be
29:06
looking for new projects. And I have a sneaking suspicion
29:10
that companies like First Mining might just find themselves in
29:13
the catbird seat because they checked that box.
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They're gonna have two of the largest undeveloped gold
29:20
projects in Canada. Check out first Mining and if
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you want, if you want to talk to a nice, cool, very intelligent a
29:28
guy who's been dealing with mining companies and mining
29:30
stocks for many years, Paul Morris.
29:33
His contact information will be in the description of this
29:36
video. You can call Paul and ask him
29:39
questions, he'll be happy to help you out.
29:41
Now young people are cutting back on their spending.
29:46
Very interesting. I wonder why.
29:48
I mean, I was here in downtown Toronto just yesterday, walking
29:52
around. Maybe it's because everything so
29:55
darn expensive. Then I realized all those prices
29:59
were in Canadian dollars. And I did the math in my head.
30:01
And you know what? It was still darn expensive just
30:06
to get a burger and fries or to do like, you know, and I'm very
30:09
frugal as you know, to a fault. Susie Will will attribute to
30:13
that. But I'm like, Oh my gosh, you
30:15
know, 20-30 dollars just for some basic little amount of food
30:21
doesn't make any sense. So we can understand these young
30:23
Americans, 73% of Gen. Z, what the heck is Gen.
30:27
Z? There's a millennial.
30:29
I guess the Gen. ZS are younger than the
30:31
millennials. We're going to go with that
30:33
between the eight, OK? Yeah, here we go.
30:36
We're going to learn something together.
30:37
Are you ready to learn something?
30:39
Gen. Z are people between 18 and 26,
30:43
really young people. How come the older we get, the
30:46
younger these people seem, right?
30:49
They they've changed their lifestyle because of increased
30:53
prices. According to Bank of America,
30:58
they did a poll of more than 1100, more than 1100.
31:04
So it might have been like 1101, who knows?
31:07
But nonetheless, yeah, people are pulling back.
31:10
We're in a, we're in a we're in a world of hurt economically
31:14
right now in the United States. You know, if you're in Canada,
31:17
if you're in the United States, probably, if you're in
31:19
Australia, the UK, it's everywhere.
31:22
The Western economies are hurting and it's the middle
31:25
class that's bearing the brunt. Now if you go over to a country
31:29
like India or China, right, they're middle class, they're
31:34
improving. Their attitude is much more
31:36
positive and upbeat because from where they were to where they
31:41
are now, they are much more optimistic.
31:44
You know, I was talking to John Little this morning.
31:46
Yes, that John Little. Yeah, that famous commentator on
31:50
the silver and gold market. He was talking about in China
31:54
the demand for gold and how how robust it has been.
31:58
And I was telling him about the fact that, yeah, now the middle
32:01
class people in China are buying gold beans, right?
32:05
These one gram gold beans. And it's a phenomena, OK,
32:10
because they're coming up, they're doing better, they're
32:12
getting wealthier. And the government, this is the
32:15
interesting part, how different this is, has everything to do
32:19
with silver and everything to do with gold.
32:22
How different is it over there that the government actually
32:27
encouraged the people to invest in gold?
32:31
We know back in the summer the PBOC made it very easy for
32:36
people to convert their their checking and savings account
32:39
balances directly into gold. Now the government is
32:42
encouraging the lower and middle segment that maybe isn't so
32:46
exposed to the banking sector to buy these little gold beans.
32:50
Little 1 gram gold beans. Google it for yourself after
32:54
we're done here. It's crazy.
32:58
And I know I'll talk about it for the third time because it's
33:01
so exciting. If just 10% of the Chinese
33:05
population were to buy one gold bean one time a month for a
33:09
whole year, it would suck in the more than half of the entire
33:14
world's gold production. And I'm going to tell you
33:17
because I went to a gold mine just the last few days, Gold is
33:21
not easy to get out of the ground.
33:23
OK. This is not like, oh, you know,
33:25
and I read earlier today, Did you know this?
33:27
Thank you, Don. Wow, thank you for the Super
33:29
check, Don. I read this just earlier today,
33:33
guys. 80% of the gold, they they estimate now that 80% of the
33:38
gold that's in the world has already been mined.
33:42
When you're talking about gold that's accessible.
33:45
We're running out of the stuff. You know the story on silver,
33:49
$35 silver by next year, I believe.
33:53
I know our good friend Buddy rumbles calling for $3032 by the
33:57
end of this year. What are we in October?
33:59
And we've got 2 1/2 months and and Buddy could very well be
34:04
right because the the statistics on silver are even more mind
34:09
numbing. I think we could see $50 silver
34:12
next year. And if we get there, you know,
34:14
who knows we could get to that $6585 level.
34:19
You know, when we get the $85 silver.
34:21
By the way, coin shop, Chris and I are getting an RV and
34:25
traveling around the country to say say hello because we we may
34:29
be wealthy land owners at that point.
34:32
We'll see how that works out. So we may be coming to visit
34:35
you. We may need to do an episode
34:37
around basement in your basement.
34:39
So I want you to be prepared for that.
34:41
OK. I'd love to come to your
34:42
basement, get a little live stream going, huh?
34:46
Hey, thank you, Frank. Wow.
34:48
Precious metals and miners will prove to be better than tech
34:51
investments. Yeah.
34:54
OK. So this week, I spent a lot of
34:56
time with some wealthy investors, OK, And some big
35:01
analysts from big Canadian banks.
35:04
And we talked about just that that that gold and silver and
35:08
the precious metal mining stocks in particular.
35:11
It is unbelievable how undervalued the precious metal
35:16
mining stocks are. And when you compare the
35:18
fundamental value that is that is included in what you're
35:22
paying right now for most of these precious metal mining
35:26
stocks. Compare that to what you get if
35:28
you buy Apple computer or NVIDIA or Facebook or even Microsoft.
35:33
The fabulous what are they called fantastic Seven some
35:36
something like that. IT guys, it doesn't even
35:40
compare. I mean with a lot of these
35:42
companies for every doll, these mining companies, for every
35:45
dollar you put in you're getting you know depending how you
35:49
measure it, at least a dollar in actual hard assets and in many
35:53
cases you're getting more like $1.50 a dollar sixty in real
35:57
assets. And some of these companies are
36:00
in production and are making profit.
36:02
Let me tell you something. Gold mining companies are making
36:06
big, big money at the current gold price.
36:09
Now look, could we see a crash? Let's talk about that.
36:12
Let's talk about that briefly And you know, silver.
36:16
But the gold price, you know, we've seen this happen before
36:19
during periods of geopolitical upheaval, right, where the gold
36:23
price shoots up and then boom, comes right back down.
36:27
I don't know. You know, I maybe I'm a blind
36:29
optimist, but I just have a feeling.
36:31
I have a feeling we've seen we've been through this so many
36:34
times. Don't forget, don't forget
36:37
something very important when it comes to the precious metals
36:40
prizes. And gold is the granddaddy of
36:43
them all. But when we talk about gold,
36:44
we'd be talking about silver as well.
36:47
OK, guys, Gold has tried three times to break out above where
36:53
it is. It's got the world's biggest cup
36:56
and handle over a long period of time that we've ever seen.
37:01
It's very rare on a price chart pattern that any asset ever try
37:06
three times to break out and it's even almost statistically
37:12
not impossible, but very, very, very rare that it breaks out
37:17
above that. OK, or doesn't break out on the
37:19
4th try. OK, it's it's, it's we're in a
37:23
situation. And that's why when we talk
37:24
about $35 silver, $2600 gold, is this guy crazy?
37:31
I mean, what the heck, we're only at 1950.
37:34
Yeah, because when we get to $2100 gold, we're heading
37:38
straight to 26. That's my prediction because
37:42
nobody is gonna be up there looking saying well everybody's
37:47
gonna be in the profit zone at that point.
37:50
Everywhere else in the world they already are Japanese yen,
37:54
China you know they're near all time highs in their native
37:59
currencies. The only place you know of the
38:01
of of a lot of the big countries where we're not at already all
38:05
time high prices and gold is I almost said right here in the
38:09
United States but over there over the border back in the
38:13
United States. I'm sorry for those you just
38:15
joined. I'm in Canada right now.
38:17
This is called Ron's bedroom. That's what I do when I'm
38:20
temporarily out of the basement. If Susie forgets to lock the
38:23
basement door, I sometimes escape.
38:26
OK. All right.
38:28
Hey, guys. Thank you for being here.
38:29
I'll be back in the basement soon.
38:31
Most likely tomorrow. So look for me going live there.
38:35
Thank you to the moderators. Thank you for being here.
38:38
I forgot to ring the bell. 200, thumbs up.
38:43
You're the best. OK.
38:45
Thank you to all of you. Take care of yourself.
38:47
Be as nice as you can to yourself first.
38:51
I know that can always be hard. You know, a lot of us are hard
38:54
on ourselves. Try not to be too hard on
38:56
yourself. And that way, that'll allow you
38:59
a little space to be nice to other people.
39:02
All right. I'll see you soon.
39:03
Thank you. Thank you.
39:05
Thank you.