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✅ FACT CHECKING - The SHOCKING Silver Price and Gold Price Rally · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Silver and gold are on an absolute tear, prices going up
0:06
super fast. Is it normal for us to be a
0:10
little scared? Are you feeling a little scared
0:12
or are you feeling full of optimism?
0:15
Or are you feeling a little bit of both?
0:18
I'll put my hand up, fellow basement dweller, and say I'm
0:21
feeling a little bit of both. But do we have real reason to be
0:26
super optimistic? We've got some unbelievable
0:29
interesting stories we're going to cover today about the
0:33
precious metals, but let's start by talking about why we can be
0:37
optimistic. Look, gold is setting new record
0:41
all time highs, We know that. But what about silver?
0:45
Is silver going to catch up soon?
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I believe it is. And a lot of the top analysts,
0:50
are you hearing this? Are you a top analyst?
0:53
But the people who are supposedly the top analyst out
0:56
there are all saying that silver will play catch up.
1:00
And let's look at some reasons why, why we can be more
1:03
optimistic guys than ever that we can get $44.00 silver.
1:08
And Ron's basement special Delivery is going to deliver it
1:13
by Christmas. All right, there's our chart,
1:15
$30 lower left hand corner. That's where we are now, $44.00
1:20
upper right hand corner on the bottom horizontal From now to
1:24
Christmas. What's going to make it happen?
1:27
We're going to go through this super fast, but it's super
1:29
important. You can come back and, and, and
1:31
take a screenshot of this screen if you need to.
1:35
We have very little overhead resistance.
1:38
All the people that wanted to sell above $30 have mostly
1:42
already sold. This is our third time, guys,
1:46
third time breaking up through $30.00 in a relatively short
1:50
period of time. We don't have a lot of people
1:53
who want to sell silver at $30.00.
1:56
That means less supply and what we could see is a massive wave
2:01
of demand for silver. We've got a massive short
2:05
position on the COMEX in the LBMA.
2:08
This baby runs up to $3538 per oz Overpriced.
2:12
They're going to have to cover those shorts.
2:14
I've heard as much as 4 to 500 million oz would need to be
2:18
bought. We've covered exhaustively that
2:22
we have right now that the world's most epic big cup and
2:26
handle pattern in silver that can break out above $50 per oz.
2:31
This is we're talking about $8100 per oz silver.
2:36
We're going to get a lot of new stackers.
2:37
Western buyers are just again starting to wake up to silver.
2:41
We got the big brown man. There's so much sorry to hit you
2:46
guys with all this, but these are the big reasons why we can
2:49
get the $44.00 silver by Christmas.
2:53
And if by chance Santa doesn't deliver for us, it's going to
2:56
happen soon after that. That's my my firm belief.
2:59
We got the big bricks meeting coming up.
3:01
Now everybody's talking about, and I won't say this, but a lot
3:05
of people are acting like it's almost a done deal that we're
3:09
going to hear about a gold backed currency which will will
3:12
send shock waves through the precious metal sector.
3:16
If we get a 40% backed up trade settlement currency that would
3:20
be announced by the bricks at their meeting, which is in late
3:24
October in Russia. China and India aren't going
3:27
anywhere. India is importing so much
3:29
silver it'll make your head spin guys.
3:32
China likely will be putting out some type of major stimulus
3:37
program for their economy, which will provide even more fuel to
3:42
the fire for Chinese demand for silver.
3:45
The overall industrial demand picture, you know, solid-state
3:48
batteries, solar panels even now we're learning that silver is
3:53
self healing on a nanoparticle level.
3:55
I'll have a video coming out for you about that soon.
3:57
Another major breakthrough with silver and then just the overall
4:02
silver deficit. Can you believe all these points
4:06
pointing toward higher silver? I don't know, Am I just a silver
4:10
pumper? But what do you, what do you
4:12
think when you hear about the fact that we've got this
4:14
deficit? Every year we're consuming more
4:17
silver than we have above ground.
4:19
That deficit is limited. Silver is finite.
4:23
There's only so much on the planet, and we're consuming a
4:28
lot more than we're producing. And that's coming from the slush
4:32
fund, and that slush fund is going down.
4:34
Mexico, the world's biggest producer of silver has a band
4:37
coming out are they're trying to put a ban on open pit silver
4:41
mining. Remember, that's the world's
4:43
biggest supplier of silver and they're not very friendly to
4:47
mining right now. The US dollar, I mean, that's
4:50
like to a certain degree the underpin of it all, the pet fact
4:55
that we can say it in a nutshell, just go just just get
4:59
a calculator out and do a little basic math.
5:01
The dollar is going down in value, right, thanks to the, the
5:05
gross mismanagement and some might say manipulation by the
5:09
Federal Reserve and our federal government deficits, debt
5:14
levels, the dollars, the I don't want to be negative.
5:16
I love my country. I'm very sad at what they've
5:19
done. But the dollar will go down in
5:21
value. We will have more big waves of
5:25
inflation be ready and that will only provide more support for
5:30
silver and, and, and, and be a catalyst for a lot more people
5:34
to come into your neighbors, right, that laugh at you now,
5:39
right that laugh at me because all your silver, your gold, your
5:43
precious metals, it'll that'll be a catalyst to bring a lot of
5:46
those people back into the silver market.
5:50
And on top of it all, the star. And it's not a star because we
5:54
don't like war, but the the ball on top of the Christmas tree get
6:00
we got geopolitical issues going on right now, guys, like never,
6:03
ever before. Look, that's a big list, a big,
6:08
big, major list of reasons why we can easily go from this $30,
6:15
thirty, $1.00 level in the silver price straight up to
6:19
$44.00 and even much higher, way higher, right?
6:23
Don't underestimate the ability of silver.
6:27
I mean, do you have a hard time? Let me ask you a question,
6:30
Silver investor. And we love gold.
6:32
We're not. We love our gold.
6:34
Gold's the godfather, right? But we like our little cousin
6:37
silver. Let me ask you a question.
6:39
As a silver investor, do you really believe that we could see
6:44
$85 silver? Let me tell you something.
6:47
This guy right here, the silver bear, his blindfold comes off at
6:51
$85. Why would you think that?
6:55
It's not possible? It's absolutely possible, right?
6:59
From 2001 to 2011, silver went from like wait till you see this
7:03
next example I have for you. But silver went from like 4
7:07
bucks an ounce all the way up to $50 per oz, like a what, 12 time
7:15
increase in price? If we're talking about getting
7:18
to let's say $90.00 silver. Somebody help me out with the
7:21
math. We're going to go from $30
7:26
silver to $90.00 silver. That's a 3X increase.
7:30
OK, We did 12X, right? Let me look at my notes here.
7:34
Am I wrong? Hold on a second.
7:36
Yeah, In 2001, the low price for silver was $4.04.
7:43
At the end of 2000 or sometime in 2011, we got the 50 or over
7:48
$50. That's 12 times, right?
7:51
To go from $30 silver to $90.00 silver is three times.
7:56
I don't know, right? We'll all be happy with $4050
8:00
silver. We know it should be there now.
8:02
Nonetheless, let's realize that the most important thing I want
8:05
to say to you right now is thank you for joining us today here in
8:09
the basement. You really are the most
8:12
important part. This does not happen without
8:14
you. Yes, I'm talking to you, right?
8:16
Your Mama loves you. But most importantly, when
8:18
you're here, guess what? You're part of the group.
8:21
You're part of the clan. You're accepted.
8:24
We love to talk about silver and gold.
8:27
Please subscribe to the channel. Give this a thumbs up that helps
8:31
get the word out to more people and super chat, super thanks,
8:34
donations, whatever. Never ever, ever expected.
8:38
I won't beg, but they aren't much much appreciated.
8:41
So thank you. Thank you.
8:42
Oh, there's Susie. Susie's not home today.
8:44
Hi, Susie. Thank you for helping moderate.
8:46
Hello Annie Oakley. Hello Jake from Jake's Custom
8:49
Parts and of course big Tim Silvershire are moderators that
8:53
make this possible. They're a big part of this just
8:56
like you are. So what does $4.00 get you
8:59
silver investor? This is interesting.
9:02
I have AI have a subscriber comment that I want to share
9:06
with you that points out a very incredibly interesting point
9:12
about silver. This came from Robert Dudley,
9:18
the one and only, right? Just like you, Robert Dudley,
9:21
one of us basement dwellers said, think of this Ronald.
9:25
Thank you, Dos Nacho for that super chat.
9:28
Wow, much appreciated. Robert Dudley said in 2004, like
9:33
we just talked about, well, OK, you could buy an ounce of silver
9:36
for $5 and by the end of this year you might be selling a
9:41
silver dime for $5 and it will soon shoot up even higher.
9:48
He points out the fact about this basically demonstrates just
9:52
how much silver prices have gone up.
9:55
But I did a little more research that I want to share with you
9:57
guys about what he's talking about.
10:00
Thank you for those, Nacho for the Super chat because when I
10:04
saw that about wow, now what he's talking about is selling a
10:07
silver dime here. Let me show you what he's
10:09
talking about. These are pre 19.
10:13
They're small. See if I can get them on camera.
10:15
There they are. These are pre 1964 silver Dimes.
10:19
Came from Big 10 to Silver Shark, and I lost one of them.
10:22
I only have four of them. I'm really upset about that.
10:24
Can you hear them? They're the they're the
10:25
smallest. You can barely hear them.
10:27
I bet. OK, what he's talking about is
10:30
that one of these. All right, see if I get that in
10:34
focus. That's an old silver dime.
10:38
Could be worth $5 now. Right now these are worth about
10:43
$2.00 melt value, a little over $2.00 according to my research.
10:49
But think about this. In 2001, the price of silver,
10:54
the low was $4.00 per oz $4.04 melt value.
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Today of one of these, just one. Hold on.
11:03
They're hard for me to hold. One of those is about $2.00.
11:09
So what does $4.00 get you in 2001?
11:12
Think about this. In 2001, this also came from Big
11:16
10 to Silver Shire. In 2001, you could buy this.
11:20
Can you believe that? A one ounce piece of silver?
11:25
Come on, focus. Why is that not focusing?
11:28
It's going to drive me crazy. There it is, $4.00, 2001.
11:33
That wasn't that long ago. Do you remember where you were
11:36
in 2001? I do.
11:37
It was right before I met my lovely wife Susie.
11:40
I was lonely, but I kept believing someday I'll meet the
11:43
woman of my dreams. And sure enough, in 2002 I met
11:47
her. But instead of dreaming about
11:49
Susie in 2001, what I should have been doing was heading to
11:52
the local coin shop and buying as many of these as possible.
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Because in 2001 you can buy these for $4.00.
12:00
Unbelievable. OK, today, $4.00, right, Four of
12:06
these. Where is it?
12:08
Four of these. Thank you, Mud C Welcome to
12:11
Stackers. Four of these 2001, four got you
12:16
an ounce of silver, right today. You know what they get you get
12:21
you this. Two of those OK, buy silver,
12:28
right? People love these silver Dimes.
12:30
They're like the hottest thing going coin shop, Chris.
12:32
I mean they're saying that like there's definitely I'm not going
12:35
to say shortage, shortage, silver shortage, silver
12:38
shortage, but there's definitely a lot of stress in the 90%
12:42
constitutional market. What I'm hearing, what I heard
12:46
from last time I talked with M1 of the owners at Pembex, was
12:50
that a lot of the constitutional silver is now being kind of
12:54
hoarded by on the local coin shop level because when people
12:58
sell it, the local coin shops know that they can resell it
13:01
quickly because there's a lot of demand.
13:03
So on the wholesale level, it's becoming a little more stressed
13:08
with 90%. Now that was a couple of weeks
13:10
ago. That might have changed, but
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according to coin shop Chris, the 90% constitutional junk,
13:16
whatever you want to call it, market is still very hot.
13:19
And what's that tell us? Why is that so critically
13:23
important, right, Because we know, right?
13:26
We want to, we want to know about silver shortages.
13:28
We want to know about more demand for silver.
13:32
The last time we had a lot of stress in the precious metals
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market was during the banking crisis back in March, April of
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2023. And we saw two things during
13:44
that period. We saw the premiums on American
13:47
Silver Eagles go through the roof.
13:49
Remember, silver was like $24.00 per oz.
13:53
Little higher now isn't it, buttercup?
13:54
But nonetheless, it was about 2425 an ounce.
13:57
People were were paying $50. I asked Coin Shop, Chris said
14:02
yeah, people were paying $5052 for American Silver Eagles.
14:06
But guess what else happened during that same time period?
14:09
OK, OK. I'm still mad.
14:11
I lost one of my silver Dimes. It's around here somewhere.
14:14
This stuff constitutional silver right here.
14:18
Listen, real money, that's the sound.
14:20
That's not that's not, that's not saying on his reindeer.
14:24
No, that's the sound of real money.
14:26
Premiums for that also shot through the roof.
14:28
So the fact that we're seeing premiums on junk silver shoot
14:32
through the roof could be a good sign.
14:35
What does that tell us? That could be a real good sign
14:38
that stress has to start to manifest somewhere.
14:41
And is it manifesting right now in the constitutional silver
14:46
market? Is that a sign of things to
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come? I don't know.
14:49
I don't, I never feel right saying this, but is it a Canary
14:52
in the coal mine? I tell you what I like to say
14:56
instead. Basement dwellers, it's time to
14:58
make some feathers fly. It's time to put boots on the
15:01
warehouse ground and I think we're doing it.
15:04
Do you think we're doing it? Do you think this third attempt
15:08
for silver to breakthrough 30 to get the 34 baby, is it going to
15:15
I I believe it is time and we get the 34 Think about imagine I
15:20
want you to close your eyes. I got my eyes closed.
15:22
I can't even see and feel they're looking at, looking at
15:27
your quote and seeing $35 silver.
15:30
It's going to happen and it can happen real, real soon.
15:34
I could be wrong, right? I was kind of wrong last week.
15:37
I thought we were going to be down.
15:38
Wrong, wrong, wrong, wrong. OK, I always tell you my
15:42
predictions are right 62.4% of the time.
15:45
But we could have this $34 silver.
15:49
Easy squeezy. And then from there, guys, it's
15:51
rocket ship. I've heard other people indicate
15:54
the same feeling. OK, that, that, that, that,
15:58
that, that there. It's just it.
15:59
From 3435 to 4445, we're going to be, you're going to have to
16:05
strap me to my chair. We're going to be we're going to
16:07
have a big party. My fellow basement dwellers,
16:10
let's go take a look. Because we like happy things.
16:13
You want to do something happy and fun, here, Let's do this.
16:19
I was trying to deliver peace, tranquility and happiness to
16:22
you. Take a look at this guy's the
16:25
gold price, $2583 per oz. I think a year ago, wasn't it
16:34
like, I don't know, we could look it up, but who cares?
16:36
I think it did it get down to 1800 or, you know, it was really
16:41
much lower. We'll go look in a second.
16:43
Silver almost 30, almost $31.00 per oz.
16:48
I'd like to take a moment and say thank you to our channel
16:51
sponsor, Pimbex Pi MB EX. You see them right now on your
16:56
screen. And this is a website where you
17:00
can acquire silver, gold and platinum group metals.
17:04
Not just acquire the metals, but hey, you want to get the most
17:08
metal that you can for your money, OK?
17:11
And you want to get it from a company you can trust.
17:14
I trust Pimbex, a lot of the basement dwellers trust Pmbecs
17:19
overwhelming positive response. I worked with them before they
17:23
sponsored the channel right, But what's unique about Pmbecs is
17:28
consistent ultra competitive pricing, right?
17:33
They've got a great selection also, but again, guys, one of
17:36
the critical things anytime you're buying bullion, go online
17:40
and search to buy bullion and you'll have a million options,
17:43
right? And, and then you got A and,
17:46
and, and if you find one that you think is the best price,
17:49
then you have to research the company.
17:51
You may not, may have never worked with them.
17:53
For me, I love Pembacs because it's a one stop shop.
17:56
I know I'm getting ultra competitive pricing and I can
17:59
trust them and I love when I get a package in the mail from them
18:03
because it's wrapped up like Fort Knox.
18:05
They can also help with they can also help with IRA conversions.
18:10
Please, please, if you or anyone you love is ever going to
18:15
convert an IRA into precious metals, take your time.
18:19
Take your time, no rush, OK? Talk to a lot of different
18:23
people, right? Compare what they can actually
18:27
do for you. How many actual oz When you add
18:30
up it, add it all up of silver and gold.
18:33
Can they get for you for the amount of money that you're
18:36
converting? I can tell you this with a
18:38
pretty high level of confidence. Those same prices you see on the
18:42
PMBEX websites, that's what they can help people do with IRA
18:45
conversions as well. So please, just just, if you're
18:49
going to do that, talk to PMBEX as well.
18:51
You could, you could save yourselves 10s of thousands of
18:56
dollars. There's no such thing out there
18:58
as free silver. There's, well, there is.
19:01
On a different note, not when you're converting Iras.
19:03
No such thing as free silver, No such thing as, you know,
19:07
whatever other gimmicks you might hear from a high paid
19:10
celebrity endorser you want to get at.
19:13
The bottom line is when you convert money into metals, you
19:16
want to get the most metal for your money.
19:19
Period. That's the important thing.
19:21
Real money, a metal from a company you can trust.
19:24
We love PMBEX. I'm I really do feel great about
19:27
having PMBEX as a sponsor. Thank you.
19:29
OK, thanks for listening, guys. Let's go on to the Dodge Hornet
19:34
is the world's slowest selling car.
19:39
What does that tell you? Then I'm thinking, I read that
19:41
and I thought, I don't even know what a Dodge horn it is.
19:43
It's like a mid size SUV. Apparently this company,
19:47
Stalantis, which isn't even an American company that owns like
19:50
Dodge and Jeep and some other is having some real problems.
19:54
Remember just like two years ago were you shopping for a car?
19:58
Everybody was and and you couldn't find cars.
20:02
You go to the dealership, Lots were empty.
20:05
Now they're like piled up. Things are changing.
20:08
This is not a show about the economy.
20:09
We're staying focused on silver and gold, but but we're seeing
20:13
big stress in the car market, starting to see big stress other
20:19
places. We're hearing about layoffs.
20:21
That's going to result in the Fed printing money.
20:25
Oh, boy. And guess what?
20:26
Next week is a massive Newsweek. Are you ready?
20:30
Are you scared? What is it?
20:32
Wednesday? I believe we're going to hear
20:34
from our old friend Jerome Powell at the Federal Reserve.
20:36
And it's a big, big day for the silver and gold market.
20:40
Who knows? Who knows which way this thing
20:44
can move, right? Be prepared, be strong, right?
20:46
Be ready for it to be. I mean, we've had a good run in
20:50
the metals. I don't want to be Mr. Debbie
20:52
Downer here, but, you know, we could see a pullback.
20:55
We always have to realize that, but we could also see an
21:00
acceleration to the upside as well.
21:02
This could be, could next Saturday, we could be sitting
21:07
here, guys. What if next Saturday we're
21:09
sitting here talking about $34 silver.
21:14
I think there's about a, I'll say 34%, although that's a
21:17
little high chance that that could be the case if everything
21:21
falls into place. We've got massive strength going
21:25
on right now in the silver market.
21:27
If we get up to 34 and pull back ideally to like 32 right then I
21:33
think we could really make that run up to $3637 per oz.
21:37
But none the less, we're going to hear from Jerome Paul this
21:41
week. Join me in a in a sip of coffee
21:53
because what's the big secret factor right now?
21:58
The secret, right? We know we want the silver price
22:01
and the gold price to continue higher, but there's one big main
22:05
secret factor that's going to make that happen.
22:07
And you know what? It's not just us that's talking
22:10
about it right now. Let's go out to Zero Hedge and
22:17
quickly run through this. We covered part of this already,
22:21
but Gold Hit's new record high as ING says the rally is quote
22:26
UN quote just getting started. All right, and we we covered
22:31
this already. They raised their estimate on
22:33
gold to $2700. They revised their short and
22:37
midterm gold price forecast higher, saying the gold rally is
22:40
quote UN quote just kidding, but that's not the interesting part.
22:43
There's INGING is a massive, massive Dutch bank.
22:50
OK, I forget like 40,000 employees.
22:52
They're big. Are you probably recognize that
22:54
orange tiger, what they're talking about the Fed obviously
23:00
cutting rates, geopolitical risk.
23:02
And boy, guys, I don't, I don't want to be, I don't want to
23:04
scare you. But if you've been following the
23:06
news, they're talking about letting the US and the UK
23:11
apparently are considering allowing the Ukrainians to use
23:14
long range missiles to strike inside Russia.
23:18
And Vladimir Putin basically said, if that happens, we will
23:22
consider that we are at war with NATO.
23:25
We won't get deep into that. But that's a scary, it just
23:28
feels like that situation in Ukraine and with Russia.
23:32
They just won't let it alone and it just keeps getting worse.
23:35
And I mean, it's that's a big deal.
23:37
It's a big, big deal, but that's not the big, that's not the
23:40
secret. OK, we got the presidential
23:42
election as a catalyst to drive gold to new records and other
23:46
bullish trends. There we go 2700 an ounce by
23:50
2025. That might feels like it could
23:52
be 2700 an ounce by November, October.
23:57
But here's the interesting part, the quiet part, this, this is a
24:01
new piece. And I think this is so critical
24:04
for us to understand. What the ING analysts don't say
24:08
out loud is the so-called victory over inflation sets the
24:14
stage for a return to inflationary policies.
24:18
OK, so-called like they didn't beat, they gave up on.
24:21
It's more of a surrender. The Fed gave up on inflation,
24:23
guys. Inflation is like simmering
24:26
right under the surface. I make homemade popcorn.
24:31
A lot of times you heat up a lot, some vegetable oil in a
24:33
pan, put one kernel in there. The kernel, you can see it
24:36
bubbling, see it bubbling, and eventually it pops.
24:39
That kernel is about ready to pop again.
24:42
When it comes to inflation, lowering interest rates and
24:46
ending balance sheet reduction will increase the money supply.
24:54
And the expansion of the money supply is by definition,
24:59
inflation. OK, We're going to have
25:01
inflation. the Fed tighten things up just enough to slow
25:04
rising prices. That's that's so true, right?
25:07
They just, they didn't, they didn't, they didn't, you know,
25:09
we're still paying high prices. They just slowed inflation down.
25:14
Think they call it disinflation, not deflation.
25:16
Disinflation. But it hasn't come close to
25:19
ringing the pandemic, pandemic era inflation out of the
25:23
economy. The central bank pumped nearly 5
25:26
trillion into the economy through quantitative easing
25:30
alone. That was on top of credit
25:39
expansion incentivize. So that's, that's the big secret
25:43
guys. Inflation is not going away.
25:48
I will tell you right now, unequivocally, all we're going
25:52
to hear about in 2025 is inflation.
25:55
All that we're going to experience.
25:57
Do you feel this as silver and gold investors are higher prices
26:02
as inflation rules? The day the Fed is kind of
26:07
become neutered? I hate to break it to you,
26:09
Jerome Powell in the Federal Reserve, but you kind of you
26:13
kind of played all your cards. You're done, right?
26:15
You don't have a trump card waiting.
26:18
Don't get me wrong, They're going to try all kinds of
26:20
tricks, all kinds of crazy stuff.
26:24
But the reality, the reality is the stark reality is that
26:29
inflation is, has become the power, the force, right, like a
26:33
tidal wave that the Fed will essentially become.
26:37
And the Fed has said this. The Fed has said they warned the
26:42
Treasury, they warned about the national debt, the national debt
26:46
in the interest expense is, is going to create a devaluation
26:50
scenario in the dollar like none of us have ever seen during our
26:54
lifetime. So be prepared, be prepared for
26:57
what will be a very interesting time, a time when you're likely
27:03
going to be very happy that you made the decision to put part or
27:07
some of your financial assets into precious metals.
27:13
OK. Hey, I want to talk briefly
27:15
about Channel Sponsor 1st. I'm sorry, not.
27:20
Yeah, Well, let's we'll talk about first mining gold channel
27:22
sponsor, first Mining gold. Canadian gold developer with two
27:26
multi million ounce projects in Canada.
27:28
You can learn more about them at firstmininggold.com.
27:31
But I want to tell you what's going on with Fortuna Mining.
27:36
Fortuna has had some really. Really great news come out
27:41
lately. Right now this is a company that
27:43
already has had a an awesome start to the year.
27:47
The first six months of 2024 have been just from a profit
27:52
perspective, from a balance sheet strength perspective,
27:55
very, very good for Fortuna Mining, OK.
28:01
Also, they're having big benefits from increases in the
28:04
gold price and the silver price, and we're going to see that
28:07
continue through the rest of the year.
28:10
Their management team is second to none.
28:12
I want to point something out about Fortuna.
28:15
Over the last four years, they've built 2 mines, 2 gold
28:19
mines, one in Argentina, the other one in the Ivory Coast in
28:23
West Africa. Both of these mines are now
28:26
producing gold, producing cash flow.
28:30
And if you look at the list of other companies that have
28:32
attempted to build mines over the last four years, many of
28:36
them have been hit by cost overruns.
28:38
Production didn't quite meet up. Fortuna has met their production
28:42
goals and even exceeded them significantly in the Ivory Coast
28:46
where they're producing above what the nameplate capacity is
28:51
for their mine. But what makes the company
28:54
really exciting is the opportunity for continued
28:57
growth. And this week just want to
28:59
briefly show you a couple very interesting news releases that
29:03
the company put out. First one here is there is from
29:09
their Segueva mine that's in Cote d'Ivoire, which is another
29:12
way to say the Ivory Coast, that's a country in West Africa.
29:19
Fortuna intersect. These are drill results, 14g per
29:22
ton over almost 17 meters at the Kingfisher prospect.
29:26
Let me just read this one quick paragraph to you.
29:30
This is from Paul Whedon, he's their senior VP of exploration.
29:34
Kingfisher is rapidly shaping up as a substantial prospect for
29:38
Seguela. The Seguela mine is their
29:41
operating mine that's doing awesome in the Ivory Coast with
29:44
drill Define strike now over 2 kilometers in length and it
29:49
remains open at depth. Recent drilling highlights
29:53
include 14g per ton over an estimated true width of 16.8
29:57
meters from 100 meters and from drill hole SGRC 1865 with
30:04
mineralization remaining at depth.
30:06
That means the gold continues to go down.
30:10
It appears to them, as I understand this, I'm not a
30:13
geologist, but this is they continue to drill deeper.
30:16
The gold continues in addition to the success at Kingfisher
30:21
infill and depth extension drilling at the Sunbird deposit
30:25
continues to support underground mining potential with results
30:29
including 8.8g per ton over an estimated true width of 6.3
30:34
meters from 301 meters from drill hole SGDD 140.
30:40
Now that's interesting, but what's also interesting is they
30:47
have an advanced stage exploration project in Senegal
30:51
called the Diamba Sued project. So this is still being drilled
30:55
and developed and they really released some results on that as
30:58
well, again from Paul Whedon, Senior VP.
31:01
The exploration focus at Diamba Sued has turned to testing and
31:05
expanding some of the previously lightly drilled anomalies with
31:09
the Western splay rapidly emerging as the next potential
31:12
project encouraging results such as 6.9g per ton gold over an
31:18
estimated true width of 33 meters from 115 meters in drill
31:23
hole DSDD 293 and 8.9 grams per ton gold.
31:28
These are these are are very good grades guys over an
31:32
estimated true width of 27.7 meters from 104 meters in drill
31:37
hole DSR 680. So what's important here is that
31:41
Fortuna Mining is already in great shape, great management,
31:47
great management, a fortress balance sheet, OK, look at their
31:51
balance sheet like they have some debt, but relatively
31:54
speaking very little debt. They're operating in an
31:57
environment with what we know now very high gold and silver
32:01
prices and they are expanding and they did a lot of expansion
32:07
over the last three to four years when none of the other
32:09
companies, most other companies weren't expanding.
32:12
They had the courage right to make, to have the foresight to
32:15
make the decision to expand during that.
32:17
So now when everybody else in the gold and silver industry is
32:21
talking about mergers and acquisitions, Fortuna's like,
32:24
oh, yeah, we did that three years ago.
32:26
We saw that this coming. Now they're in a position to
32:28
harvest, right, to benefit from these decisions they made three
32:33
to four years ago. And some people question them,
32:35
you know, when they bought their mines in West Africa.
32:37
But, right, Jorge Gonoza and the team at Fortuna has proven right
32:42
that the decisions they made in the last three to four years
32:45
were very, very wise. Thanks to Fortuna Mining for
32:48
sponsoring Ron's basement making this live stream this video
32:52
possible. Sorry, guys, I'm still dealing
33:01
with some pretty bad allergies. Allergies are bad here in Saint
33:04
Louis. What about we know the gold
33:08
price is soaring. We're going to compare the we're
33:09
going to look at the gold price. If you if you looked at what the
33:12
gold price has done relative like the stock market, the bond
33:15
market, it's fascinating, but we're going to look at silver as
33:18
well because while you may feel that silver has a lot of
33:24
catching up to do, we have a chart to look at that shows it
33:27
in absolute no uncertain terms. Let's go out to our friends at
33:33
the Silver Academy. Gold's soaring success, a almost
33:46
50% surge in 2024. It outshines equities, tech
33:51
stocks and real estate. But wait till you see what it
33:54
means for silver. This is, this is another.
33:59
It's not just feel good. It's like, feel smart if you've
34:03
invested into silver, OK, We're going to compare gold first
34:10
gold's remarkable performance in 2024.
34:13
Think about this. It's seen total gold market
34:16
capitalization surge by almost $6 trillion to reach over $17
34:24
trillion. Again, guys, this comes from the
34:27
Silver Academy. That's a sub stack.
34:30
You can subscribe to it. There's a link in the
34:32
description of this video and it's free unless you decide to
34:36
donate some money, which is nice to do compared to gold, the
34:39
equities. He points out that during the
34:42
2008 financial crisis, global equities lost 42% of their
34:48
value. OK, so gold's 49 percent, 49.6%
34:54
gain demonstrates the inverse relationship the traditional
34:58
risk assets as assets can have during economic downturns.
35:02
What about tech stocks? Remember tech stocks?
35:04
The dot dot com bubble burst. This is there.
35:08
There's something critically interesting about this
35:11
whenthe.com bubble burst in 2000 to 2002.
35:15
It was a It's a stark example because during this period, the
35:18
Nasdaq Composite Index plummeted by almost 80% from its peak.
35:25
You know what else happened during that time?
35:27
Silver and gold investors, right?
35:30
For the second time today, we'll remember that during that same
35:33
time period, actually 2001 to 2011, the silver price, for
35:38
instance, went from under $5 per oz to over $50 per oz.
35:44
So the tech stocks can have trouble while gold and silver go
35:49
into their own little bubble. I just made that up.
35:53
OK, Real estate, the US housing market crash.
35:57
Remember O8O9 when all our houses went down in value,
36:01
average home price declined by 33%.
36:04
All right, let's get to this. Interesting, Interesting.
36:07
What we're going to get to that next quickly on Bricks.
36:10
Meanwhile, 159 participants in 20 countries are set to join the
36:16
Bricks 40% gold backed unit payment system right away.
36:22
We're going to hear about this at the end of October.
36:24
I'm still calling it speculation.
36:27
Some people are saying that it's very likely to happen.
36:31
Some people are alluding that it's a done deal.
36:34
I'll say speculation, but none the less, just the fact that
36:38
it's being considered so strongly a gold backed currency
36:42
guys by Peter Grantich out of an interview with him coming out
36:45
Sunday. He thinks it's that the bricks
36:48
thing is the biggest thing going for the silver and gold price
36:51
and maybe it is right that that explains why we've seen just
36:55
unbelievable strength in the silver and gold price.
36:58
This is interesting. Hello silver investors, this is
37:03
special for you from Ron's basement and the Silver Academy
37:07
Silver place catch up big time, very big picture.
37:12
There's still a massive divergent between gold and
37:16
silver. Wait till you see this on the
37:17
chart last times. Last time that silver and gold
37:21
had a larger divergent like this like we have right now.
37:25
A difference between their prices.
37:28
Silver played catch up hugely and this time silver will break
37:33
out of a 45 year cup and handle. That's on top of everything
37:37
else. That's like the double whammy,
37:39
double bonus, right? The extra little shot of nitrous
37:42
oxide. What are nitrous Nitro, Whatever
37:44
that is you put in a race car. Isn't nitrous oxide what they
37:47
give you at the dentist office anyway?
37:49
You know what I'm saying? It'll feel like nitrous oxide.
37:52
So the overshoot this time could be massive.
37:56
This is from a chart, I believe from Grati Commodities.
37:59
Let's look at this. I want to get it on the screen
38:02
for you. OK guys.
38:04
So the red line is the silver price.
38:07
This goes all the way back to the 1970's.
38:10
The gold line appropriately or the orange line is gold.
38:14
So you can see right in in purple, it shows divergences,
38:18
meaning we're gold outperformed silver.
38:22
As you can see, the red line always catches up, OK, even back
38:27
here in O8, look how big that divergent was.
38:29
But then look by 2011 how silver overshoots.
38:35
These are the overshoots happened in 1980, happened again
38:40
in 2011, right? Those are the two rims on the
38:44
cup, in the cup and handle pattern.
38:46
Now look where we are. Look at this, it's bigger than
38:50
ever. It is bigger than ever.
38:53
Look at this divergent right here.
38:57
That means that's why the gold to silver ratio right now is
39:03
what, still around 9085 to 90? I haven't looked at it in the
39:06
last few days. When this gets corrected, when
39:09
this red line gets corrected, and if gold stays up here or
39:14
even possibly goes higher, that's the slingshot.
39:18
That's the massive, massive move in the silver price.
39:22
Look, look, I, you know, do you, do you, do you agree or do you
39:27
feel like I do? Because I know a lot of the, you
39:30
know, I've heard all these other big name analyst in the silver,
39:34
gold, precious metal sector say it that the the price of silver
39:40
and the price of the mining stocks has grossly lagged that
39:44
of gold. We can have a catch up
39:46
situation. Oh, oh, there's more.
39:49
I forgot about this. OK, sorry guys, We could have a
39:52
catch up situation like we've never that most of us maybe have
39:56
never experienced during our investing lifetime.
40:00
Not financial advice. However, it sure looks to be
40:04
likely. This is from the guy, the happy
40:06
Hawaiian super smart guy that gets a ton of following on
40:10
Twitter or X. But also on top of this, he
40:13
says, looking like we'll get all three elements.
40:16
And silver breakout. Breakout today #1 silver closed
40:22
over $30. OK, this is going to make you
40:24
get a bigger and bigger smile on your face.
40:26
My fellow basement dwellers. Think about that.
40:29
We talked about it earlier. Silver closed about $30.
40:32
I'm grinning. Hold on, hold on, I'm grinning.
40:39
Are you grinning, guys? Silver closed above $30.00 on
40:44
Friday. OK, now back to the chart.
40:48
Because my grin is getting bigger.
40:53
It it resolved the wedge pattern, we're going to look at
40:57
that and then we're going to go down and look at this.
40:59
But so that makes your grin get bigger.
41:01
Trust me. You're going to see this on the
41:03
chart below. Also, the 20 day moving average
41:09
crossed up through the 50 day moving average.
41:12
That's a, for those of you that don't maybe don't understand
41:15
technical analysis, that's a very positive bullish sign.
41:20
So let's go take a look here, OK, there's our silver chart.
41:28
You see the wedge that are a triangle, some people call it
41:31
OK, the price needs to break out of that triangle.
41:37
And guess what, it either breaks out to the downside, Boo, or to
41:42
the upside, Yay yay. This is the second phase of your
41:47
smile. It broke out.
41:49
See that green line on the far right hand side?
41:52
Hopefully you can see my cross on the screen.
41:55
The silver price broke out to the upside of the triangle.
41:59
That's a very bullish sign. We're above $30.
42:02
Smile, grin, grin, will grin. OK, we broke out of the triangle
42:07
even bigger grin. But if you look at this chart,
42:11
that red WAVY line, see it down here, it comes up and it kind of
42:14
moves. That's the what was that?
42:17
The 20 day moving average of silver, that yellow line is the
42:24
50 day moving average. That's like the average of the
42:27
price over the last 50 days. Whereas this red line is the
42:31
average of the price over the last 20 days.
42:34
So it moves. The red lines going to move more
42:36
dramatically. The red line just crossed above
42:39
OK. The 20 day moving average just
42:42
crossed above the 50 day moving average.
42:45
That is the big giant as my dad used to say, but I can't say
42:49
what my dad used to say, but we'll call it a he used to when
42:53
he would get mad at me. Say you have a a poop eating
42:56
grin on your face. That should put a big grin on
42:59
your face as well because what that means is higher, higher
43:04
prices to come for silver and gold.
43:08
But we were focused on silver there.
43:10
Join me for a quick sip of coffee guys and then we will be
43:13
right back. So what do you think?
43:33
After we look at all this, we check the facts.
43:36
OK, we checked the facts. We went through exhaustive list
43:39
of reasons why silver can go from 31 dollars roughly where it
43:43
is now to $44.00 by Christmas. If you believe that it's
43:47
possible, join me in typing 44 in the comments, OK, please.
43:55
And at some point type 888 for those that are moderating
43:58
because those moderators are great, an exhaustive list.
44:01
The bottom line is the fact that we will see devaluation of the
44:07
dollar, we will see higher inflation.
44:09
We are in a new era. Think about this, Think about
44:11
this. All the old, many of the old
44:15
relationships are gone. People used to say, oh, the only
44:19
way that the price of silver can go up, remember hearing this, is
44:22
if there's inflows into the ETFs.
44:25
Well, guess what, Buttercup, over the last year and a half,
44:29
we had outflows from the gold and silver ETFs, but guess what?
44:33
The price of gold and silver still went up.
44:37
Now when those flows do come back, that could be just an
44:41
added a little more wind in the sale of the precious metals.
44:46
OK, we got it. We went through an exhaustive
44:48
list of why we can get the $44.00 silver.
44:54
Everything else is pointing us towards positive, positive news,
44:59
positive moves for the metals. All right, guys, thank you for
45:04
joining us today. Thank you to the moderators,
45:06
thank you to our channel sponsors First Mining gold,
45:10
Fortuna Mining and Pinbecks. All right, don't forget if you
45:14
want to get some silver, gold, platinum group metals, go check
45:17
out Pinbecks. But look, as we move into these
45:21
coming weeks, wow, it just hit me.
45:24
It just hit me, you know, we didn't really put, I apologize,
45:30
I forgot, OK, we got three, we got three big things.
45:33
We got a lot of a lot. We got so many things, but we
45:35
got three big things, right? We just exhaustively talked
45:38
about how inflation or devaluation of the dollar is
45:41
going to continue to provide upward price momentum for the
45:46
metals, OK. The other major thing that we
45:49
have going on and I think it's it's summary now is this, I
45:53
mean, who knows what's going to happen here in the coming what
45:57
six weeks is we have the most contentious presidential
46:00
election in the history of this country, right?
46:03
That's going to be supportive. But guys, on top of that, the
46:07
geopolitical situation in the world, and I don't think that
46:11
we're getting like, I, I don't think he gets enough coverage by
46:14
our mainstream media what's going on in Europe right now,
46:18
Peter Grandich said yesterday. And again, I have an interview
46:21
with him coming out on Sunday. He thinks that the European
46:24
Union could fall apart at some point here in the new near
46:28
future. We've got, I mean, imagine that.
46:32
I mean that it could be crazy, but we have war with Russia, you
46:38
know, we and we also, of course, have what's going on in the
46:40
Middle East and we also have what's going on with China,
46:42
Taiwan, North Korea, South Korea.
46:45
Three big things, four big. There's so many big things, it's
46:48
hard to remember them. All right?
46:51
The dollar's tanking. We got geopolitical issues.
46:54
We got issues here in the United States, you know.
46:58
Are you, do you feel good that you've invested some of your
47:01
hard earned money into precious metals?
47:03
I do. I feel even better that you
47:05
decided to come join me here in the basement today.
47:08
You right, There's one you remember, You're part of this
47:12
group. You're always welcome here.
47:15
Some of us like to call ourselves basement dwellers,
47:18
right, 'cause we like to dig a little deeper.
47:21
I'll tell you something about the people that come to this
47:23
channel that is absolutely true. Two things I know for sure that
47:27
I can say about you. If you're a regular basement
47:30
dweller, number one, you're a little smarter than the average
47:34
bear. Yes, that bear, we got that much
47:38
covered, right? We're smarter than the stuffed
47:40
bear. No, seriously, right?
47:42
You're you're willing to, to look at the tough issues, the
47:46
hard issues. I'll say, I'll bring up Peter
47:50
Granich one more time because he said that to me yesterday.
47:52
I said, Peter, I feel like sometimes like I'm a, like a,
47:54
like a doomsayer or a, you know, tinfoil hat.
47:57
He's like, no, he said what you're saying is true.
48:00
What we're saying is true. The other people, they have
48:03
their fingers in their ears saying that, you know, so we're
48:07
willing to take a look. We're smarter than the average
48:09
bears. We are OK and we're in your
48:12
courage. But the other thing is very nice
48:16
people. We have some super nice people,
48:18
right? And I'm talking to you, right?
48:21
Because it's a group, right? It's a group of us together, but
48:23
we're a bunch of individuals. We can help each other.
48:26
Don't forget. Leave comments, OK?
48:29
I'll look forward to seeing you again next time.
48:31
I just wanted to share that with you because you are important.
48:34
Have a great day and I'll look.