Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 SILVER PRICE Scares ELON MUSK 🚨 - Part 2 - (Gold Price Too)

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🚨 SILVER PRICE Scares ELON MUSK 🚨 - Part 2 - (Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:02
  Hey guys, we're back. Sorry about the last live
• 0:04
  stream. Had some technical problems, but
• 0:06
  let's pick up where we left off first.
• 0:09
  Let's remember today's a tough day.
• 0:11
  Silver, last we checked, was down $0.86 per oz.
• 0:16
  But we did get news from TD Securities, big Canadian bank.
• 0:20
  They're talking about silver going to $50 if we hold above
• 0:23
  $31.00 per oz. And thank you to Bald Guy Money.
• 0:26
  Thank you to Susie for alerting everyone earlier.
• 0:30
  I need to talk to Bald Guy about his thoughts for the rest of the
• 0:33
  week. Where do we need to close on
• 0:35
  Friday? Maybe he'll share that with us.
• 0:37
  And maybe I'll be able to share that with you later in the week.
• 0:42
  And there we go. Now we're live.
• 0:43
  OK guys? Also, OK, we know Oriental Ghost
• 0:48
  is telling us that silver is the most popular investment right
• 0:52
  now in China. And Elon Musk, right?
• 0:56
  Andy Schuckman says put the crumbs together, right?
• 1:00
  What are all the crumbs? Right.
• 1:01
  They don't tell us what's really going on.
• 1:03
  But there's some suspicion, and I'll emphasize suspicion that
• 1:07
  Elon Musk is trying to shush the silver squeeze movement through
• 1:12
  his platform X. And why would he want to do
• 1:15
  that? Because he makes all the he's
• 1:17
  addicted to silver. OK, now Coin Shop.
• 1:19
  Chris, a report from the coin shop is telling me of robust
• 1:25
  retail investor demand for silver right now, a discernible
• 1:30
  real pick up in people. I think you mentioned one of a
• 1:33
  professional athlete buying 3 monster boxes of silver.
• 1:37
  People are buying silver. Some people are selling right,
• 1:41
  which has to do with the horrific situation that we have
• 1:45
  right now in the US economy. And I'm going to tell you some
• 1:50
  Breaking Bad news about the US economy.
• 1:52
  Remember, I am definitively predicting that in the next six
• 1:57
  months before the election that we're going to see some carnage
• 2:02
  of some level, excuse me, recognized in the US economy.
• 2:07
  Thanks for sticking with me, guys.
• 2:09
  Thanks for being basement dwellers.
• 2:11
  I know we had some troubles this morning.
• 2:13
  I really appreciate you being here, OK And everything you do
• 2:16
  for this community and I want to make sure, please give this a
• 2:21
  thumbs up and subscribe to the channel if you haven't already.
• 2:25
  Coin Shop Chris says again, don't be one of the $17.00
• 2:30
  silver people, the people that are saying I'm going to wait for
• 2:33
  silver to get the $17.00 before I buy.
• 2:36
  He's talking about a lot of that crowd showing up now.
• 2:40
  Kind of regretful that they didn't buy sooner, who knows?
• 2:44
  And like we talked about 323133 dollar silver after we establish
• 2:50
  a good strong base in that level, there's very little
• 2:54
  resistance getting to $50 and that's what this guy from TD
• 2:57
  Securities told us, right, TD Securities.
• 3:00
  OK, let's talk about now we we talked about China, who's one of
• 3:05
  the most who who do you think when when I say most respected
• 3:09
  names in the precious metal sector, I don't think Ron from
• 3:13
  Ron's basement's probably popping to the top of your list.
• 3:16
  However, a name that might pop to the top of your list is
• 3:20
  Sprott, Sprott Asset Management. They are super respected.
• 3:25
  And wait till you hear this. What?
• 3:27
  What if? What?
• 3:29
  Would it be strange to you if maybe four of the heads of big
• 3:33
  trading, big commodity metals trading trading companies went
• 3:38
  to Shanghai recently? Would you find that a little
• 3:40
  suspicious? Maybe.
• 3:41
  Wonder why? OK, is there a big short
• 3:44
  position? Let's just dig right in.
• 3:46
  Let's get right into this. And here we go.
• 3:51
  OK. Sprott Money.
• 3:53
  All right. The China syndrome.
• 3:56
  Interesting. There's President Xi.
• 3:59
  Looks like he knows where he is. That's a good first step.
• 4:04
  Are we witnessing in any epochal shift?
• 4:06
  Are the Comex in the LBMA losing their roles as precious metal
• 4:11
  market price maker for the entire world as influence and
• 4:16
  control shift to China? Maybe.
• 4:20
  Frankly, it's soon to know. But things certainly appear to
• 4:24
  be trending in that direction. What did the Oriental ghosts
• 4:27
  just tell us? Silver, the top most popular
• 4:30
  investment right now in China. We know the Chinese government
• 4:35
  is encouraging their citizenry to buy gold and silver.
• 4:41
  What does that tell us? Think about it.
• 4:43
  OK, think about it. We know we have pictures of
• 4:47
  hundreds of thousands of people at times lining up to buy gold
• 4:51
  and silver in China, OK. And and what would a shift in
• 4:56
  the balance of pricing power to China mean?
• 4:59
  The Western fractional reserve Unicorn fart dust and digital
• 5:03
  derivative pricing scheme has persisted for nearly 50 years.
• 5:07
  If the price begins to be driven by Eastern physical demand for
• 5:13
  gold and silver instead of Western paper supply, what might
• 5:20
  be the impact? Perhaps we're already seeing
• 5:23
  that over the past week alone the price of physical silver in
• 5:26
  Shanghai has risen by nearly 15% from $30.00 an ounce to $35.00
• 5:33
  an ounce. We've covered that ad nauseam
• 5:35
  now haven't we guys closing on Monday at $35.30.
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  The London New York bullion banks risk losing copious
• 5:44
  amounts of metal in a physical arbitrage if they don't allow
• 5:49
  the COMEX price to keep pace. As such, the price on the July
• 5:54
  24th COMEX silver contract has moved up by almost an identical
• 5:58
  percentage. OK, here we go.
• 6:01
  This is where it gets interesting, but in reality more
• 6:04
  interesting. The bullion banks had no choice
• 6:06
  but to let the price rise despite the most recent
• 6:09
  commitment of Traders report that revealed them to be
• 6:12
  collectively net short over 37,000 COMEX silver contracts.
• 6:19
  Or Are you ready for this? 190,000,000 ounces of silver net
• 6:24
  short. OK, short.
• 6:26
  Meaning they sold it hoping that they would buy it back at a
• 6:30
  later date at a lower price. Well, that ain't.
• 6:33
  That's not happening. If the Comex price had remained
• 6:36
  below $28.00 while the Shanghai price moved to $35, the
• 6:40
  resulting arbitrage, That's the difference of $7.00 per oz might
• 6:45
  be profitable. I always I have a It's the
• 6:48
  simple word. I can't say we're going to try
• 6:50
  it one more time. Profitable enough to prompt a
• 6:54
  significant drainage of the COMEX.
• 6:56
  Volts. Drain the Volts.
• 6:58
  Sorry, Elon, sorry. We're taking all the silver.
• 7:02
  Elon. You get no silver for your
• 7:04
  Teslas or your satellites or your rockets, whatever.
• 7:08
  OK, solar panels cut between the proverb proverbial rock and a
• 7:14
  hard place. The banks had no choice but to
• 7:17
  let the COMEX price rise. But guys, it gets even more
• 7:22
  intriguing when we look at the next clue that this outstanding
• 7:27
  article from Sprout Money gives us.
• 7:29
  But first, just because we like proof, that's what we get right
• 7:34
  now. OK, here's the reportable
• 7:36
  positions on May 14th. That was 8 days ago.
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  Long 29,000, Short 66, almost 67,000.
• 7:46
  That's why we have a net short, major net short position in the
• 7:52
  silver markets. Let's go down here.
• 7:54
  Are you ready for this? Out of anticipation and concern,
• 8:01
  is this why the heads of precious metal trading of four
• 8:06
  separate bullion banks all took turns stopping by the Shanghai
• 8:11
  Gold Exchange and Futures Exchange in March and April?
• 8:14
  This can't be a coincidence. I agree.
• 8:18
  Were they pleading for mercy and Chinese intervention to control
• 8:22
  the price? So here we go.
• 8:24
  Here's the guys that stopped by. Looks like on April 10th
• 8:27
  Standard Chartered Bank visits. The Shanghai Gold Exchange.
• 8:32
  Oh, on March 28th, JP Morgan, JP Morgan Chase Bank visits the
• 8:39
  Shanghai Gold Exchange. Oh, March 21st, HSBC Bank visits
• 8:47
  the Shanghai Gold Exchange. And finally on the 13th of
• 8:50
  March, Deutsche Bank visits the Shanghai Gold Exchange.
• 8:54
  OK, Interesting guys. Interesting.
• 8:59
  Let's go out and take a quick look.
• 9:01
  Let's hope it's not gotten uglier.
• 9:03
  Oh boy, for my blood pressure sake.
• 9:05
  OK. Hey, we're only down $0.67 and
• 9:08
  silver. Thank you Pinbex.
• 9:10
  And since we're doing another live stream, I'll say guys,
• 9:13
  don't forget who knows when those numbers will be green
• 9:16
  again? Silver $31.33 If you're looking
• 9:20
  to get your hands on some silver or gold, do yourself a favor,
• 9:24
  check out Pinbex. OK, what's going on in the
• 9:27
  economy? This is just craziness.
• 9:29
  And this will have a major impact on the metals prices
• 9:34
  because in the next six months we are going to be heading for,
• 9:39
  we are going to be heading for a a period of financial difficulty
• 9:45
  like most of us have never seen during our lifetime.
• 9:49
  Just making sure we don't have volume going through U.S.
• 9:52
  Federal budget. Wait till you see this graph.
• 9:55
  U.S. Federal budget crosses grim
• 9:57
  milestone as interest payments overtake defense spending.
• 10:03
  We're spending more on interest. OK. the United States along the
• 10:08
  world's biggest defense budget spends 900 billion a year on
• 10:11
  defense. Let's just go down here.
• 10:13
  This shows it all soaring interest cost.
• 10:16
  OK, so the interest expense is the red line, interesting.
• 10:22
  And the Gray line is our defense budget.
• 10:24
  I was looking back here, I thought like back in 19/19/70
• 10:28
  when I was born, we spent 110th of what we spend now on National
• 10:34
  Defense. Absolutely crazy.
• 10:36
  But nonetheless, the scary part here guys, is that we are now
• 10:39
  officially paying more in interest on our debt then we are
• 10:44
  on National Defense. It'd be like if you I don't know
• 10:47
  how to explain it, Let's say you were let's say you were a renter
• 10:51
  and you're renting a house for $2000 a month.
• 10:54
  And you also had a bad habit of racking up other debt like car
• 10:58
  debt, student loan debt, credit card debt, whatever.
• 11:01
  And you've not. You keep racking up debt and the
• 11:04
  rates on that debt keep going up and up.
• 11:06
  And now you're at a point where not only are you spending two
• 11:09
  grand a month to rent this house, but your interest expense
• 11:13
  alone on all that debt that you racked up that you really don't
• 11:16
  have a lot to show for, is now exceeding 2000, exceeding what
• 11:21
  you're spending just to provide shelter for yourself and your
• 11:25
  family. It's not a good situation, but
• 11:27
  what about what about Target? And then I have a Susie and I
• 11:31
  have a a financial confession we have to make to you a little
• 11:35
  insight into our extreme lifestyle that we're lead
• 11:39
  leading. You know, I put on this show
• 11:41
  that I'm in the basement, but is there really something else more
• 11:44
  extravagant going on that you guys need to know about?
• 11:47
  But what about Target? Target's a bellwether for the US
• 11:51
  economy and absolute bellwether and what did we hear?
• 11:55
  This is what this morning Target shares tumble after retailer
• 11:58
  reports caution about we consumer guys in the next six
• 12:02
  months. My bold prediction right and I
• 12:07
  didn't say this six months ago, I didn't never, I've never said
• 12:10
  that I really believe I am. I am as certain as I can be, but
• 12:15
  I can definitely be wrong. Don't make any financial
• 12:17
  decisions based on anything that I say.
• 12:20
  But I really feel like in the next six months we are going to
• 12:22
  hit massive turmoil in the US economy.
• 12:26
  Target shares slumped in pre market trading after the
• 12:29
  retailers comparable sales missed Wall Street's consensus
• 12:33
  estimates for the quarter ended May 4th.
• 12:36
  OK, so that's what about two weeks ago, 18 days ago.
• 12:41
  This comes as Goldman analysts have warned about faltering low
• 12:46
  income consumers in the area of failed by Dynomics because it's
• 12:52
  working. OK.
• 12:53
  This is where it's a little bit crazy.
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  Comparable sales, those from stores or digital channels
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  operating for at least 12 months, declined by almost 4%.
• 13:04
  This is Target. This is not Saks 5th Ave. where
• 13:08
  Susie sometimes shops. This is not Bloomingdale's.
• 13:12
  OK. This is not.
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  I know I I'm, I'm so out of touch with high end retail.
• 13:16
  I don't even know any other names to give as examples.
• 13:18
  This is Target tarjay, right? A step up from Walmart for all
• 13:24
  you Snooty Target shoppers out there.
• 13:27
  But it's not Snooty. Target's a discount type store.
• 13:30
  Target's. Target.
• 13:31
  Whatever it is, I never like Target.
• 13:34
  Be honest with you. Anyway, their sales declined by
• 13:36
  4%. That's massive.
• 13:38
  This is not people splurging. This is if you're going to buy
• 13:42
  your kid. Like if you're on a budget, you
• 13:45
  want to buy your kid a little bit nicer clothes or whatever.
• 13:48
  You go to Target, they have groceries.
• 13:50
  Target 4% is a big, big number. And then what do we hear from
• 13:55
  McDonald's? OK, McDonald's prices are up, so
• 14:00
  lower income consumers are eating at home.
• 14:04
  Guys, what we're hearing from the likes of McDonald's, Target,
• 14:08
  Walmart is that people don't. Lower income people don't have
• 14:12
  money. They can't afford to go to
• 14:14
  McDonald's anymore. So that's where I have to make
• 14:17
  this confession to you guys. OK, let's just read this
• 14:20
  quickly. Some lower income Americans are
• 14:22
  rejecting McDonald's and opting to cook at home instead, the
• 14:26
  fast food chains chief financial officer said in an investor
• 14:30
  conference on Wednesday. He says, quote, it's a
• 14:32
  challenging consumer environment.
• 14:35
  Ronald McDonald is not happy. Ian Borden, McDonald's CFO.
• 14:40
  Oh, that wasn't Ronald McDonald anyway, noting that many
• 14:44
  consumers are. They used to call me Ronald
• 14:47
  McDonald when I was a kid. Kind of drove me a little crazy.
• 14:50
  Anyway, many consumers are trying to manage inflation,
• 14:54
  higher interest rates and dwindling savings.
• 14:57
  Whoa, let's let's dig into that for a second.
• 15:01
  So if you're an average, middle, lower, middle class American,
• 15:04
  right, you're trying to manage inflation.
• 15:07
  Everything you buy is going up, up, up in price, higher interest
• 15:10
  rates, like my earlier example. You maybe you have credit card
• 15:14
  debt, whatever. You're paying more in interest,
• 15:16
  but you're getting nothing for right stuff that you bought in
• 15:19
  the past. And their savings are dwindling.
• 15:23
  OK, so I guess it's time for me to make this confession.
• 15:27
  You know, Susie and I are living an extravagant lifestyle because
• 15:32
  yesterday our daughters faked sick and stayed home from
• 15:36
  school. Well, one of them stayed home,
• 15:38
  then the other one called from school and said she didn't feel
• 15:40
  good. They both were OK.
• 15:42
  Anyway, I digress. We apparently are living the
• 15:46
  extravagant middle class lifestyle because I I shot this
• 15:50
  picture on the way home. That's our, that's my I have a
• 15:54
  19 year old car that Tuesday and I bought when we were freshly
• 15:58
  married, Acura TSX and that is the passenger seat.
• 16:02
  As I was bringing home 2 Happy Meals, some hamburgers and some
• 16:05
  French fries. We splurged and spent $16.00.
• 16:08
  So I guess we're living this extravagant lifestyle that a lot
• 16:13
  of my fellow middle class Americans just can't find, find,
• 16:17
  find the the money to survive on.
• 16:20
  I mean, what's it come to? People can't afford McDonald's
• 16:22
  anymore. It's absolutely crazy.
• 16:25
  One last thing I want to pull up here.
• 16:28
  Yesterday, as we were, as I was eating my McDonald's, this
• 16:32
  popped up on the TV screen. Hold on, why is that not
• 16:37
  working? There it goes.
• 16:38
  Yeah, this is CNBC. That's our actual TV and our
• 16:41
  family room. What's CNBC talking about?
• 16:45
  Correction ahead for gold, right?
• 16:48
  Again, the mainstream media is not talking about silver, Not
• 16:52
  talking about gold. So I snapped this picture so I
• 16:55
  didn't have time to turn the video camera on.
• 16:57
  But this guy's talking about gold.
• 16:59
  Needs to pull back. Gold's not good.
• 17:01
  Gold. Gold, when the mainstream media,
• 17:05
  when the average people out there wake up to what's going on
• 17:09
  in the gold and silver market, it's going to be a very, very
• 17:14
  good time for us as investors. OK.
• 17:17
  Hey, guys, thank you for being here.
• 17:19
  Thank you for the silver you send me in the mail.
• 17:21
  Sorry about the technical problems that we had earlier
• 17:25
  today. Thank you to our sponsors,
• 17:27
  Pinbex, Pinbex Pi, MB EX online bullion dealer, First Mining
• 17:33
  Gold Canadian Gold Development Company and Fortuna Silver, a
• 17:38
  gold and silver producer with operations in both Latin America
• 17:42
  and West Africa. I'll see you guys tomorrow.
• 17:45
  Have a great rest of your day and thank you.
• 17:47
  Thank you.