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💥 WARNING! 💥 - The SCARY Truth About Gold and Silver Prices Right Now! · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  It's getting scary out there, guys, silver and gold investors,
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  scary in a bad way, but also scary in a good way, and I'm
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  going to give you the reasons why in this video live stream.
• 0:12
  Thank you for being here. Thank you for being part of the
• 0:14
  basement. Please subscribe to the channel,
• 0:16
  give the video a thumbs up. Super chat, super thanks.
• 0:19
  Always super appreciated. But I'll start with one very
• 0:23
  scary statistic and then we'll move into the election.
• 0:26
  Bricks pay short squeeze and silver, we got a lot to cover.
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  But did you know last night I was digging in a little bit?
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  In 1971, an ounce of gold cost $40.
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  Think about that $40.00 for a whole ounce of gold.
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  As a side note, isn't it pretty scary that right now an ounce of
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  silver is not too far away from being $40.00?
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  But nonetheless, in 1971, you could have bought all the gold
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  oz you wanted for $40 per oz in theory.
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  Today that same ounce of gold cost $2720.00.
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  So that $40 that in 1971, were you around in 1971?
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  I was that same $40 that would have bought you a full ounce of
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  gold now buys you like 1 1/2 percent of an ounce of gold.
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  It is absolutely stunning. OK, that is a scary statistic.
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  Statistic. It's early nonetheless, right?
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  That shows how the value of the dollar has just been completely
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  obliterated when measured in gold, right?
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  Gold is it's not the, it's not gold going.
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  Up in value. No, it's the dollar going down
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  in value. I digress.
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  We're going to talk more about that later, but that's a scary.
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  It's no wonder my parents tell me, right?
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  Tell me right, that my first where I was born in 1970, I
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  remember. $40 gold. Quite clearly as a youngster
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  being one year old, and my first words were buy gold, mom and
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  Dad, buy gold. Next week is all right.
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  Well, tonight's going to be wild.
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  We have some wild things coming up.
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  Next week will be wild, but tonight could be wild.
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  OK, be prepared when the markets open this evening.
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  I could be wrong, but I have a strong inclination that we're
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  going to see big move either up or down in the precious metals
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  prices, in particular for silver.
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  I wouldn't be surprised to see a $0.50 or almost even $1.00 move
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  in the price of silver in particular.
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  They're going to give it all they got this coming week to
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  tamp down the price. So I want you to be prepared,
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  right? We know the big long term
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  thesis. We know what's intact.
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  But we've also got a crazy week coming up.
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  Take a look at this. They're rolling out the clown
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  show. It's time for the Fed to go out
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  there and talk. And why is that important to us
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  that they're rolling out all the Fed speakers this week because
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  they can have a big impact in the short term on the gold price
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  and silver price. So this is the the economic
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  calendar for the upcoming week. Just want to demonstrate to you.
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  How how it how? Important it is to keep an eye
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  on these fed speakers. Monday we have Dallas fed
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  speaker also Monday Kansas City fed president speaks and woo
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  it's trifecta. Monday, San Francisco Fed
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  President Mary Daly. Be prepared, guys, because, you
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  know, unfortunately, while the Fed has lost a lot of its
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  potency in terms of its ability to impact world markets and in
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  particular silver and gold, they still do have an impact.
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  And if they wanna, you know, it's it's a war right now
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  between precious metals and the dollar.
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  And these are the generals. Right.
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  Jerome Powell is the I don't know.
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  Right, that the head and these are his generals that are coming
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  out, three of them on Monday, Tuesday, Philly Fed speaker
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  Patrick. Harker.
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  Wednesday, Michelle Bowman speaks.
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  I don't know where she's from. Thursday, Cleveland Fed.
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  They're doing the whole country OK, so be prepared for that.
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  Probably one of the biggest news stories of the week.
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  Coming up will be initial jobless claims, right?
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  That was came in higher than expected a couple weeks ago.
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  That's what people are really keeping an eye on.
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  Now, of course, as we're heading into this election and we're
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  going to talk more about that here in a little while right
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  there. There's a big inclination for
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  the government to is it, is it OK to say not, maybe be so
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  honest about what's going on? That we could get great.
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  Jobs numbers, which could present a challenge for the gold
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  and silver market. But that's what's going on this
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  week. It's important we keep an eye
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  and realize these Fed speakers one after another, right?
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  They're like a bunch of crows. You know, when you get a flock
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  of crows on a power line, they're squawking.
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  And you know what? It is a fact.
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  They don't have as much power as they had let's say two years ago
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  and in particular 5 or 10 years ago.
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  The world has changed. We've covered that ad nauseam,
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  boy, the LBMA, the London Bullion Market Association,
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  right, one of the leading markets traditionally, although
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  that's changing also for silver and gold.
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  They had their big, big convention down in Miami and
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  Neils, I guess from Kitco was there.
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  He put out an article with some very interesting insights, some
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  observations that he had from the LBMA conference.
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  Gold has room to run as sentiment is optimistic but not
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  euphoric. And why is that important?
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  And why is that a good thing for us as silver and gold investors
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  that we indeed are not euphoric right now or the investors are
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  not euphoric? Another great piece of work by
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  Neil. She's like gold and silver could
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  be in one of the quietest bull markets in history.
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  Make sure I got you on there, which we do at least.
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  At least that was part of the sentiment.
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  Oh, here, wait a minute. Top analysts don't fully
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  understand how prices have rallied above 2700 for gold and
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  $33 for silver, respectively. They're all scratching their
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  head. The top analysts, boy, isn't it
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  funny. We we kind of called that back
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  six months ago. Basement dwellers, none the
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  less. At least that was part of the
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  sentiment during the London Million Market Association's
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  2024 Precious Metals conference in Florida.
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  Why Analysts? May not fully comprehend this is
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  the green part here. Who exactly is buying gold at
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  record highs? The last thing they are going to
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  do is look a gift horse in the mouth.
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  At this point, investors are simply happy to ride the rally
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  as long as it lasts and it could still climb much higher.
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  We looked at this yesterday guys.
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  The gold and silver price. This is not a spike move up.
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  This has been a long term. Year long type process where
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  these prices have gone up and up and up and just shown incredible
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  resilience, right? The problem with a spike move.
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  Which we could. Get but the.
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  Problem with the spike move is when a spike up happens, usually
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  there's a fast fall immediately after and again we have not had
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  a spike move up in red. The best way to describe
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  sentiment at the LBMA was optimistic.
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  But not overly bullish. And again, that's a good thing.
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  You want some some skepticism about this that helps feed,
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  right? They say that big rallies climb
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  a wall of worry. And there are people out there
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  who are worried about the gold price, who are worried about the
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  silver price. I only heard one estimate for
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  prices for gold to push above 3000 before the end of the year.
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  The delegates themselves, they did a poll, see prices rising to
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  about $2941.00 an ounce by this time next year.
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  Hey, we'd. Be cool with.
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  That that represents a 10% rally at first.
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  At first glance, this may not sound particularly encouraging.
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  However, it demonstrates that even at record highs, this
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  market still has plenty of upside potential.
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  I'd be more concerned if we were in a manic, euphoric stage, as
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  that traditionally signals a market top.
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  And think about that, guys, and think about what Neil's just
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  said. Right, sure.
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  We all want to be manic, euphoric.
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  It's fun. The problem is it doesn't last.
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  I, you know, I don't know about you, but even my moods, every
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  once in a while I get in a really super happy mood and I'm
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  like, oh, I wish this would stay this way and never last, right?
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  That's the way markets, that's the way life goes.
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  There's ups and downs. And what he's saying is so true.
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  If everybody in there, the good news is everybody and their
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  brothers not. Yet talking about silver and
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  gold when all the ducks are quacking, when the shoeshine
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  boy, when the Uber drivers talking to you about gold and
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  silver, that might be a time to think about converting some of
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  your physical metal that had gone up in real value
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  significantly into another asset class into some other real asset
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  that does not. In my opinion, although I don't
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  give financial advice, that does not include Unicorn fart does
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  paper U.S. dollars. But there are things you can go
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  into real estate, Yeah, farmland, other things like
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  that. We'll get, we'll cross that
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  bridge when we get there, when Niels is saying we are in a
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  euphoric stage at the same time delegates are caught.
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  Oh. I forgot to tell you they they
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  talk about silver specifically at the end of this article.
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  Nobody's looking to the downside.
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  So nobody, and that's a little scary.
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  Nobody's talking about. The gold price going down right
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  now. So that does you know that I'll
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  be honest with you that that concerns me a little bit.
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  Then they talk about the election.
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  A Trump administration viewed weather is good or bad, not a
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  political show represents the biggest risk is the candidates
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  positions on foreign policy are unpredictable.
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  We're going to talk more about what's going to happen after the
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  election with silver and gold a little bit later in the show.
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  Meanwhile, analysts also mentioned that if Kamala Harris
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  wins the election, Kamala geopolitical uncertainty will
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  remain elevated as it's unlikely that peace will break out around
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  the world. That's nothing to laugh about.
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  You know, just the fact remains that our most recent four year
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  Democratic reign has also coincided with some major world
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  wars. Our world conflicts breaking
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  out. They also noted this is
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  interesting that neither candidate has promoted any
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  policies to address the nation's growing national debt, which is
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  now surpassed 35 trillion. Even economist at the
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  International Monetary Fund, that esteemed organization, the
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  IMF, for sounding alarms about the rising global debt.
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  We'll get more into that later. Let's get to the the silver
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  part. OK silver investors, time for
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  your silver smile to come on that pretty face of yours.
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  While we focus heavily on gold, let's not forget about silver.
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  Delegates at the LBMA, the London Billion Market
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  Association, expect the white metal that would be silver to
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  outperform gold in 2025. These were the delegates at the
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  LBMA conference. The quote of the conference
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  belongs to Matthew Watson, founder and president.
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  Of precious Metals Commodity management.
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  Who said this about silver? And I'm quoting Matthew here.
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  Matt, I don't see any fundamental downside to silver.
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  That's our mic drop that comes straight from the LBMA
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  conference. We need to pay attention to what
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  they're saying. But there's even more because
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  Neil's forgot to add this part into his article about silver.
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  We touched on this a few days ago, but this is exciting
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  because we go out the Yahoo Finance, watch their little
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  video. Gold industry sees bullion
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  surging 10% in a year to record high.
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  That was what we just talked about.
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  So this was a Bloomberg's report, Yahoo Finance, Bloomberg
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  Mainstream Media, make sure I got you on there, which I do
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  talking about gold. But what did they say about
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  silver where we covered all this already?
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  OK, I'm not cheating you here guys, but we just talked about
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  this, all this stuff. OK now, Well here, let me go
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  here. Let's go up here cuz this is OK.
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  So they did a survey, right? And they talk about the same
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  thing that Neil's just talked about to get this price
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  prediction. Where'd it go?
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  Hold on here. OK, here we go.
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  So it says in yellow. In yellow silver, this is from
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  the LBMA conference, silver will gain more than 40% in the coming
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  year to reach $45.00 an ounce, according to the survey.
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  And that's the survey that they did of these delegates at the
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  LBMA conference, which was just, I believe, last week or yeah,
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  yeah, it wasn't yet last week. This is the LBMA, the Plenty
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  Million Market Association, these are the delegates there,
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  right? These people have no interest in
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  being Uber bowls. They are saying their prediction
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  for silver next year right now $45.00 an ounce.
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  So I ask you, do you think in one year I want you to go into
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  the time time machine with me for a second one year from now,
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  are you OK with us sitting here talking about $45 per oz?
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  I think you are. I think I am as well.
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  And I believe that that will be the case.
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  Now, we could be wrong. These delegates from the LBMA
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  could be wrong. Maybe they'll be 55.
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  Maybe it'll be 60. Five, you know, maybe it'll be
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  75, but it could be 35 and even if it is 35, that's OK.
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  These fundamental support factors for the metals prices
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  are in place and will continue. Whether it takes a year, five
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  years or 10 years, will continue to.
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  To to, to, to support the price. You know what else will support
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  the price? We got to talk about it one more
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  time because how about how about a short squeeze?
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  Remember silver, short, silver squeeze.
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  What about a short squeeze? All kinds of of of reporting,
• 15:25
  excuse me, is going on right now.
• 15:28
  Let's have a drink of coffee, basement dwellers about a short
• 15:32
  squeeze and silver. It's just starting to get some
• 15:35
  feet to it. We're going to talk about that
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  here in just one SEC. OK.
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  Chris Marcus from Arcadia talked about, I think it was a 278
• 15:48
  million that was from the COT report, but there's other want
• 15:51
  more wild estimates in terms of what's going on.
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  This came from the Jerusalem Post and I believe they were
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  pulling this information from the Silver Academy.
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  But it says silver prices surge, banks face billion dollar
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  losses. Silver price explodes 6% on
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  Friday above 3360 per oz. Five major U.S. banks face
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  billions and losses from massive short possessions.
• 16:18
  I just want to go through this quickly, just these three
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  paragraphs in this data. Silver sword breaking through
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  the crucial $33.60 mark and sending shock waves through
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  global markets. The surge has put five major
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  U.S. banks at risk of massive losses.
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  These are the bullion banks who I believe are JP Morgan, Goldman
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  Sachs and these other big banks that deal in silver and gold.
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  Massive losses, potentially billions due to their heavy
• 16:53
  short positions in the precious metal.
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  According to data from the CFTC, the open interest in silver
• 16:59
  futures contracts has reached a staggering 141,000 contracts.
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  Each of those contracts represent 5000 ounces of silver.
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  This translates to a total of 707 million oz, nearly
• 17:15
  equivalent to a year's worth of global silver production.
• 17:19
  So they're saying, and that's what I said last night, some
• 17:24
  pretty, you know, there, there's, there's a pretty wide,
• 17:27
  I don't know if, if, if, if some people are, are calculating this
• 17:32
  is the net short position versus, excuse me, just the
• 17:36
  total short position. But anyway, the Jerusalem Post
• 17:39
  is saying 707 million oz, with silver surging by almost $2.00
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  per oz these short positions. Just in one day alone lost about
• 17:50
  $1.3 billion in value. The scale of the short, short
• 17:55
  position is particularly alarming, giving that it is
• 17:57
  reportedly concentrated among just five U.S. banks.
• 18:01
  Industry analysts are questioning how such a small
• 18:04
  group of institutions could take up a short position.
• 18:09
  What happened here? OK.
• 18:14
  Looks like I got attacked by a virus or something.
• 18:18
  Anyway, how did these five banks build up such a massive short
• 18:22
  position? Right, We'll think about this.
• 18:26
  They're sitting on that right now.
• 18:27
  They sold silver with the idea that at a later date they could
• 18:33
  buy it back at a lower price. That's a short.
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  That's what you do when you short something.
• 18:37
  You think the price is going to go down, so you sell it now at a
• 18:42
  higher price, thinking at some point in the future you can buy
• 18:46
  it back at a lower price. So as they built these, they
• 18:50
  probably double down, increase to their short position over
• 18:53
  time. Now guys, we're at a point, OK,
• 18:56
  I don't care if it's 300,000,600 million or 700 million oz that
• 19:02
  are short in the market. But every time the price of
• 19:05
  silver goes up by a dollar $2.00.
• 19:07
  And we talked about this. The reason why it's so important
• 19:12
  to realize how, how, how massive these losses could be for these
• 19:15
  banks is because we are going to see days where silver goes up by
• 19:20
  $3 per oz. I said this the other day,
• 19:25
  excuse me and a scratchy throat this morning that I don't really
• 19:28
  remember a $3 update in silver, but I am predicting definitively
• 19:34
  right now, and I said this 2 days ago.
• 19:37
  So sometime over the next 363 days, we're going to have at
• 19:41
  least two days where we have a silver price that goes up by at
• 19:45
  least $3 per oz. And that that's the short
• 19:50
  squeeze right now. Those banks, they may have sold
• 19:54
  silver at 2820, seven, $25 per oz, sold it thinking they'd buy
• 20:00
  it back in the future at a lower price.
• 20:02
  Now is the price goes up and up and up every time it goes up by
• 20:05
  a dollar, however many hundreds of millions of Oz they've sold
• 20:09
  short, that's how many for each $1.00 hundreds of millions of
• 20:13
  dollars losses are being incurred by the bank.
• 20:17
  So at some point they get nervous and when it gets to
• 20:20
  3435, thirty $6 per oz. Excuse me?
• 20:25
  They get nervous pervis and they think we need to buy it back
• 20:29
  now, so they come back in to buy 100 million ounces of silver.
• 20:35
  Right, nobody's selling at that point.
• 20:37
  And that, my friends, is the anatomy of a short.
• 20:39
  Squeeze. And that makes you very happy
• 20:43
  that you don't own paper silver, but you own this real silver
• 20:49
  that's from big time the Silver Shire.
• 20:51
  I love that. That this round, for some
• 20:53
  reason, it really is, is really, you know, when you love a
• 20:57
  certain piece of silver Anyway, what about gold?
• 21:03
  Let's go quickly. Here we go, Bank of America.
• 21:20
  Sorry guys, I've got some allergies going on.
• 21:22
  Yahoo Finance Ben Zynga gold could reach $3000 an ounce by
• 21:28
  2025. That's Bank of America.
• 21:29
  That's not the important part. The important part is Bank of
• 21:33
  America telling the world that gold is now the ultimate
• 21:38
  perceived safe haven. I.
• 21:40
  Thought it was a pet rock. I thought it was.
• 21:43
  Remember when Ben Bernanke? The the previous before, Yeah,
• 21:48
  but before Gomer or Jerome Powell.
• 21:50
  And what's her name? I forget all the Fed governor's
• 21:54
  names. Anyway, he said gold was just a
• 21:56
  pet rock that the world central banks are picking up.
• 22:00
  But anyway, they said that basically gold remains.
• 22:05
  Quote. Hear me highlight this for you.
• 22:12
  The ultimate perceived safe haven asset in today's
• 22:15
  macroeconomic environment, according to Bank of America's
• 22:18
  commodity analyst Michael Widmer.
• 22:20
  Amid rising concerns over US fiscal policies and their impact
• 22:25
  on Treasury yields, he said basically, the gold has become
• 22:32
  the ultimate safe haven asset. Think about that, right?
• 22:37
  It used to be the US dollar. It used to be U.S.
• 22:40
  Treasuries, Bank of America, mainstream US, the, you know,
• 22:47
  the biggest recognizable name. Why is that so important?
• 22:52
  Because they're saying that gold and when they say gold, silver
• 22:56
  benefits is now the world's number one safe haven asset.
• 23:03
  It's going to get interesting now this week.
• 23:05
  Oh my gosh, let's not forget what's happening this week.
• 23:11
  It's here, the big bricks meeting in Russia.
• 23:15
  Why is that a big deal? It's a big deal because
• 23:19
  everything to do with the bricks has everything to do with gold
• 23:22
  and silver. We know their central banks are
• 23:25
  buying gold and now Russia silver hand over fist.
• 23:28
  This is the week starts I guess Tuesday.
• 23:32
  Wednesday, Thursday, we can have major news coming out from the
• 23:36
  BRICS, but we already have this fascinating development about
• 23:40
  BRICS pay. If you heard about this, it's a
• 23:43
  new payment system and it's basically.
• 23:47
  For the BRICS. Countries to use and it's
• 23:49
  basically like giving them absolute freedom from the
• 23:55
  Western financial system, right from the SWIFT system, from the
• 24:00
  Visa MasterCard system. They're powerful throughout the
• 24:03
  world. OK, it's a BRICS payment system
• 24:05
  and that the details on this are stunning, but let's remember,
• 24:11
  even right now the BRICS countries, they represent almost
• 24:15
  40% of the world economy. And on top of that, they're
• 24:20
  growing fast. And on top.
• 24:22
  Of that right. Why is that a big deal to you as
• 24:26
  a silver and gold investor? The reason why is because those
• 24:29
  countries on a national level, on a central banking level, love
• 24:34
  gold and silver, OK? And the people love gold and
• 24:40
  silver. They're completely people.
• 24:41
  And we talked about this so many times.
• 24:43
  But remember the people in Russia, India, China, I imagine
• 24:48
  Brazil is, well, they love gold and silver.
• 24:51
  So not just do they have almost 40% of the world's economy right
• 24:55
  now, but they're also growing faster than anybody else.
• 24:58
  It does matter. Why does the bricks pay system
• 25:00
  matter? Because it is completely
• 25:03
  separate from the existing dominant dollar dominated World
• 25:09
  Economic system. And somebody showed a screenshot
• 25:13
  that this bricks pay and they rolled it out, right?
• 25:16
  They actually rolled out the, the, the, the beginning phases
• 25:19
  of this before the big bricks summit.
• 25:23
  It's called the bricks card. It's outside of the Western
• 25:26
  system. It's a cornerstone of payment
• 25:29
  systems that now these countries can even use amongst themselves.
• 25:33
  It's decentralized, meaning there's not one bank that, that,
• 25:37
  that, that, that dominates or controls what's going on with
• 25:41
  this system. It's innovative, it's
• 25:42
  convenient. It's also cheaper and faster,
• 25:46
  right? Because if you're a BRICS
• 25:47
  country and you want to trade with another BRICS country
• 25:50
  instead of having to buy dollars and deal with fees and all this,
• 25:55
  it's faster and it's also much, much cheaper for them.
• 25:59
  It's a it's another major move away from the US dollar.
• 26:04
  And why is that important to you?
• 26:06
  I mean, I'm an American, right? Where is it?
• 26:09
  There's my myself waving American flag, right?
• 26:12
  We love our country, but as these countries move away from
• 26:16
  the dollar, it's real simple, guys.
• 26:19
  That means there's less demand for dollars.
• 26:22
  When there's less demand for something, the real value of it
• 26:26
  goes down. When the real value of the US
• 26:29
  dollar, and it's already been going down, remember, since
• 26:32
  1971, it's lost like 98 1/2 percent of its value versus
• 26:37
  gold. But nonetheless, when the real
• 26:38
  value of the dollar continues to go down, right?
• 26:43
  That makes the real value of silver and gold continue to go
• 26:48
  up, right? And this is real and they're
• 26:50
  working on this and we could get some unbelievable news, Chris
• 26:55
  Marcus from Arcade Economics reported.
• 26:57
  This guy, Pepe Escobar, and I didn't realize this, but he's
• 27:00
  like really in tune with what's going on with the bricks.
• 27:03
  And he said get ready for for some big announcements.
• 27:07
  And he has been spot on so far, basically with most all of his
• 27:13
  predictions about what's going on with bricks.
• 27:15
  So Are you ready, Buttercup? Huh.
• 27:18
  You know, right. We don't like what's going on.
• 27:21
  You know, I happen to live in America, but we're not going to
• 27:24
  keep our heads in the sand. This is interesting, Very, very
• 27:27
  interesting. All the while.
• 27:29
  All the while, I didn't realize this.
• 27:31
  Here's an interesting fact for you silver and gold investors.
• 27:35
  Germany. Is one of the world's biggest
• 27:37
  economies OK, German, BMW, Mercedes, Bayer, Bayer, whatever
• 27:44
  anyway. And the Western economies are
• 27:48
  struggling. But I didn't realize this.
• 27:50
  Germany has now their economy has shrunk right in 2023 and now
• 27:57
  they're predicting in 2024. These Western economies are
• 28:00
  shrinking in real terms. I believe the US economy is
• 28:04
  shrinking. I don't believe the data they
• 28:06
  put out. These bricks countries are
• 28:08
  expanding. And again, it's so important
• 28:11
  because guys, they're in a whole different world from us when it
• 28:15
  comes to precious metals. They know, right?
• 28:20
  They know just like our founding fathers knew, right, Thomas?
• 28:24
  They, they know. Now let's go out and take a
• 28:27
  quick look and see if the silver and gold price changed
• 28:30
  overnight, which it didn't, but we're going to press the pen
• 28:33
  backs magic button anyway. Look at that silver price,
• 28:37
  $33.74 Wow, I almost forgot I almost forgot.
• 28:43
  We, we did it and we talked about this last week.
• 28:47
  I think we, I remember saying that today, this weekend, we'd
• 28:51
  either be at $34 silver or $29.00 silver while we went to
• 28:56
  the upside. Which is what we thought would
• 28:58
  happen, but at this point. We are very.
• 29:02
  Pleased with with where that silver price is.
• 29:05
  I'm also really pleased. That I have a great sponsor for
• 29:08
  Ron's Basement Pembex. They make this possible.
• 29:11
  They they facilitate us getting together even here on a Sunday
• 29:15
  morning. Guys, if you want to get your,
• 29:17
  your hands on some silver, gold, platinum group metals, I will
• 29:21
  never tell you what to do, OK, I will tell you what I believe.
• 29:25
  And I believe that Pembex is probably the best one stop shop,
• 29:31
  the best option for getting your hands on some silver, gold or
• 29:35
  platinum group metals. Their prices are always ultra,
• 29:39
  ultra competitive and check that out for yourself.
• 29:41
  OK, I checked the other day, one of the big online bullion
• 29:44
  dealers was we're selling, I think it was 2024 American
• 29:49
  Silver Eagles. And the big online bullion
• 29:52
  dealer, the big guy, they were like $2.00 per coin more
• 29:57
  expensive, right? Look, do do some comparison
• 30:01
  shopping. Absolutely.
• 30:02
  I've always found their prices are ultra competitive.
• 30:05
  They always have great selection.
• 30:07
  And number one, you got to work with a company you can trust.
• 30:10
  You can listen to me, I can give you my, I can give you my, my
• 30:15
  experience, my truth with Bembeck's, which is I trust them
• 30:18
  100%. I know the brothers that own the
• 30:21
  company. They're both Cpas, OK?
• 30:24
  They're very smart guys, and they genuinely want to get the
• 30:27
  most metal they can in the hands of the stacking community.
• 30:31
  And thank you, OK? Because I learned about Pembacs
• 30:35
  from basement dwellers. Several of you reached out to me
• 30:38
  and told me to check them out. This was long before they
• 30:41
  sponsored the basement. Thank you, Pembacs.
• 30:43
  And if you ever want to convert, time for me to preach at you for
• 30:46
  one second, please. You can get yourself in in some
• 30:51
  real danger. OK, if you ever decide to
• 30:55
  convert part or all of an IRA into precious metals, you can
• 30:59
  talk to the people that advertise on Fox News.
• 31:02
  You can talk to the people that are on CNN, the big high paid
• 31:05
  celebrity endorsers convincing you to put all your money into
• 31:09
  silver and gold. I wouldn't recommend.
• 31:11
  I'm not giving financial advice, but never do everything all at
• 31:14
  once. But you know, you do whatever
• 31:17
  you want. But what you do need to do is if
• 31:19
  you ever decide to convert that IRA, talk to a number of
• 31:23
  different options, compare what they can actually do for you.
• 31:27
  Please make one of those options pin backs.
• 31:30
  And before you make a final decision, what I would highly
• 31:32
  recommend is see how many actual, actual ounces of silver
• 31:37
  go. Let's say you're going to
• 31:38
  convert 20,000. How many actual ounces of silver
• 31:41
  and gold are you getting for that money?
• 31:43
  Compare amongst your different options.
• 31:46
  Then make your decision. I'll leave it at that, but I
• 31:49
  would highly recommend that you reach out to the guys at Pmbek's
• 31:52
  if you're going, if you're going to do that.
• 31:53
  OK. Oh, what about gold?
• 31:56
  This is crazy. You ready for some crazy time?
• 32:00
  You know, we talked about this with gold last year.
• 32:02
  The gold price hit all new all time highs in all these foreign
• 32:08
  currencies. That's happening now in silver,
• 32:11
  it's reaching new all time highs.
• 32:14
  Let me back up. Last year we sat down here about
• 32:18
  a year ago and we looked at how gold was reaching new all time
• 32:22
  highs in a number of different currencies all over the world
• 32:25
  and we said it's only a matter of time till the dollar price
• 32:29
  for gold catches up. That happened.
• 32:32
  The same thing is happening now with silver.
• 32:35
  If we look at just one country, excuse me, one country is an
• 32:43
  example. This is astounding.
• 32:47
  Hold on here, here we go. All right and OK, this is a 5
• 32:57
  year chart of gold in Australia. Look at this.
• 33:02
  And this is big news because in Australia and Australian
• 33:05
  dollars, gold has gone above 4. What did I do?
• 33:11
  Let's go back. There we go.
• 33:12
  Gold has gone above. Look on the right hand side.
• 33:14
  Look on the left. 4000 AUD at the top per oz Australian
• 33:19
  dollars per oz. Gold has breached now $4000 per
• 33:24
  oz in Australia. Remember, we're comparing.
• 33:31
  Fantasyland Fiat dollars currency to each other, right?
• 33:36
  So there is a difference in value obviously or price between
• 33:39
  the US dollar and the Australian dollar, but none the less,
• 33:43
  right, this is exactly what happened in silver about what 6
• 33:49
  months, I'm sorry, gold six months a year ago.
• 33:53
  Now if we go to Australian dollars and look at silver,
• 33:57
  which should be the next chart. Yeah.
• 33:58
  Look at this so again at the top AUD Australian dollars you can
• 34:03
  see back you know their price back in 1980 got to about 30 an
• 34:07
  ounce may have gone higher. This may be like a monthly chart
• 34:10
  or weekly chart in 2011 it got all the way up here to probably
• 34:17
  50 ish range. But now it is broken out
• 34:21
  Australian dollar silver. This is silver price and this is
• 34:24
  what I call an upward slanting cup and handle.
• 34:27
  Do you see the cut? And then do you see the handle?
• 34:30
  But the in Australian dollars, the silver price has absolutely
• 34:36
  broke out and let's go take a look at.
• 34:45
  But the current hold on here, the current price, we're going
• 34:48
  to go on a little field trip here, boys and girls.
• 34:52
  Sure I got you on the right screen, which I do OK silver and
• 35:00
  AUD Australian dollars, here we go We'll go to silverprice.org
• 35:08
  and see what they say. Sometimes this is tricky getting
• 35:11
  this to pull up and and again the reason why we want to look
• 35:19
  at this which is never going to pull up.
• 35:22
  So let's go down over here and see where else we can get a
• 35:26
  market index. Today's price and charts here we
• 35:28
  go. Looks like $50.58, but let's
• 35:32
  look. That's in U.S. dollars.
• 35:41
  Boy, it never works the way it should, does it guys?
• 35:44
  We'll try one more time. Well, none the less, gold
• 35:50
  bullion Australia, let's go. There we go.
• 35:53
  Australian dollars $50.62. Silver's broken out in Australia
• 36:00
  and I believe I'm accurate. Gold Australia.
• 36:07
  All right, we have gold above 4000 here.
• 36:10
  Silver Australia. Thank Lord.
• 36:12
  Here we go Look at that. Yes.
• 36:14
  OK, wow. Let's look at the all the data.
• 36:19
  Yes, that's an all time high over there guys.
• 36:22
  Do you see that? OK, now this is the handle.
• 36:27
  We don't have enough data, but remember there's the cup over
• 36:30
  here from 2011 and this is the handle in Australian dollars.
• 36:35
  This is exactly what happened and that's why this is exactly
• 36:38
  what happened in the gold market nine months ago and it's
• 36:42
  happening right now in the summary.
• 36:43
  Heck, you know what? We are going to get $44.00
• 36:46
  silver by Christmas and next year.
• 36:50
  Will be about. $45.00 It's happening, it's happening
• 36:53
  everywhere. One of our viewers sent me this
• 36:55
  from Canada just to show you how crazy the prices are getting and
• 36:59
  and this is the original text that he sent me, OK.
• 37:05
  He said, hey Ron, I just noticed that in Canada, the preferred
• 37:09
  silver maples, this was on Friday when the silver price was
• 37:12
  up by like a dollar. So this is now not accurate.
• 37:16
  It's even more extreme. The preferred silver maples in
• 37:20
  Canada are now just seven cents away from. 50.
• 37:23
  Dollar, Canadian dollars for one coin.
• 37:27
  That's a real psychological hump to get over.
• 37:29
  I wonder if it will happen today.
• 37:31
  And it did happen today as you can see here what he'd sent me.
• 37:35
  We've got the 2024 one ounce silver Maple Leaf at the time
• 37:41
  was selling for $49.93 Canadian. It did breakthrough that OK.
• 37:49
  And think about again an example of how other countries in the
• 37:54
  world, Canada, Australia, I'm sure India, China, the silver
• 37:59
  price is is is at or near all time highs.
• 38:03
  I remember when the the Canadian dollar and the US dollar were
• 38:07
  almost at parity. That wasn't so long ago, was it?
• 38:10
  Right when it was basically 1 Canadian dollar to one U.S.
• 38:13
  dollar, that wasn't that long ago.
• 38:16
  And right now if you want to buy, where is it?
• 38:18
  I think I have one. Well now this is This is Auk
• 38:22
  Britannia. Let's do a little.
• 38:24
  Show and tell. Still one of my favorite coins.
• 38:27
  I I love silver. Don't you love silver?
• 38:34
  That's Auk Britannia. Look at that.
• 38:37
  Isn't that beautiful how shiny that is?
• 38:40
  I like the back of the Britannias.
• 38:42
  I think they sell these on Pinbeck's website.
• 38:44
  By the way, come on, Focus cameras have a hard time
• 38:48
  focusing on silver. Well, anyway, it's selling for
• 38:55
  record levels in foreign countries.
• 38:58
  It's going to happen here. It's and it's not that far off.
• 39:01
  OK, OK. What about the presidential
• 39:05
  election? Let's go out here and talk about
• 39:09
  I got, I had another comment from a subscriber.
• 39:13
  See if I can find this one for you.
• 39:15
  Here we go. That's my house.
• 39:21
  That's the roof. Oh, go back to that one.
• 39:26
  Here we go. In In Joe 1960 says silver will
• 39:29
  hit $45 by Christmas, $150.00 by the 4th of July if Harris wins.
• 39:36
  Unfortunately, that 150 will hold no value.
• 39:40
  Hold your silver and gold. Get out of the stock market.
• 39:43
  I happen to agree with that. Silver they're saying, and gold.
• 39:48
  Let's talk about the presidential election.
• 39:49
  This is not a political show, but we have a big election
• 39:53
  coming up in just a few weeks. The price of silver and gold,
• 39:59
  you start to think, what if Kamala wins?
• 40:02
  What if Trump wins? What are the reactions in the
• 40:04
  markets going to be? I think that if, if, if the
• 40:08
  Democrats prevail, we're going to have a crazy increase in the
• 40:13
  silver and gold price right away.
• 40:15
  I think if Trump wins that the the the the, the reaction could
• 40:21
  be more muted. Because he's considered and he
• 40:26
  is considered to be pro crypto at this point, neither one is
• 40:29
  addressing the elephant in the room which will drive the dollar
• 40:32
  down. And we heard that from Neils
• 40:34
  earlier. And and we're hearing that from
• 40:37
  the like the smart people, like neither candidate is talking
• 40:41
  about the deficit, neither candidate is talking about the
• 40:45
  national debt, neither candidate is really talking about D
• 40:49
  dollarization and how the US dollar essentially is circling
• 40:54
  the drain, right? It's in a, in a kind of a doom,
• 40:57
  a Whirlpool at this point due to the simple mathematics of how
• 41:02
  the debt is exploding and how the deficit continues to
• 41:05
  explode, which is going to make the debt explode more, which is
• 41:08
  going to make the, the, the interest payments explode more.
• 41:11
  You know, the cycle, we've talked about it.
• 41:13
  We're in that doom cycle right now.
• 41:18
  And we got to remember this OK, gold and silver, again, aren't
• 41:23
  necessarily going up in value. Although they are, but what's
• 41:29
  really going on is the dollar going down in value.
• 41:32
  Remember in 1970, one $40.40, you probably have $40.
• 41:39
  Take it out to $20 bills, that would buy you an ounce of gold.
• 41:44
  In 1970, one $40. That same $40 today, right, will
• 41:49
  buy you 1.5% of an ounce of gold.
• 41:55
  Like what is that 170th of an ounce of gold?
• 41:59
  That's how much value those dollars have lost, right?
• 42:03
  The gold didn't change. It's the dollars that changed,
• 42:07
  the dollars that lost value. That's why it's so critical that
• 42:12
  when you think about your silver and gold, that we think about it
• 42:15
  in terms of Oz. OK, you got an ounce of silver
• 42:20
  over here, OK, And you've got paper over there.
• 42:27
  They can print as much paper as they want.
• 42:30
  And if you think about what changed since 1971 all day, the
• 42:34
  reason why that gold and you can do the same, it's probably
• 42:37
  essentially with silver maintained its value is because
• 42:42
  they created paper money out of nothing out of thin air, OK, out
• 42:47
  of thin air right now. And and then they're going to
• 42:52
  try to fool you. Did you hear this week the
• 42:54
  European Union cut interest rates?
• 42:56
  They cut interest rates. So the euro is going down, blah,
• 42:59
  blah, blah. You got gold and silver over
• 43:02
  here, the Real McCoy, right? And you got all the the paper
• 43:05
  money over here. And they're all really like my
• 43:08
  fingers, right? This is the dollar, this is the
• 43:10
  euro, this is the yen, this is the Chinese yuan.
• 43:14
  And they're all living in fantasyland.
• 43:17
  And this goes up and this goes down, blah, blah, blah, blah,
• 43:19
  blah, blah, blah. They print, print, print, print,
• 43:22
  print. The reality is all this and over
• 43:24
  here is gold and silver and it just keeps.
• 43:27
  It's like a teeter totter. They're over here, the dollars
• 43:30
  up, the dollars down, the euro and gold and silver maintain
• 43:34
  their value. There's no other way.
• 43:38
  And I got a big warning. Massive warning about the real
• 43:42
  estate market coming up. OK guys, First I want to say
• 43:45
  thank you to channel sponsor First Mining Gold.
• 43:47
  They also make this live stream possible.
• 43:50
  First Mining Gold is a Canadian gold developer with two multi
• 43:52
  million ounce projects in Canada.
• 43:54
  Do you want gold in the ground? First Mining Gold has gold in
• 43:58
  the ground. Their development stage company,
• 44:00
  they're working through the permitting process.
• 44:02
  You can learn more about them at firstmininggold.com and our
• 44:05
  friends at Fortuna Mining. They have gold and silver mines
• 44:09
  in Latin America, producing gold and silver right now as we
• 44:13
  speak. And they have major mining
• 44:17
  operations in West Africa, which is a booming area for gold
• 44:21
  mining. Think about that right now,
• 44:23
  right? That company, they're digging up
• 44:24
  silver and gold. Very difficult process.
• 44:28
  And if there's a company that's got it down pat, I'd say it's
• 44:31
  Fortuna. You can learn more about them at
• 44:33
  Fortuna mining.com. Big warning for you about the
• 44:37
  real estate market. But before we do that, we got a
• 44:42
  few minutes left here. Critical.
• 44:44
  One more critical thing we got to do.
• 44:47
  OK, I lied, I lied, I apologize, but we got to go look at it
• 44:53
  because we look at it every day, guys.
• 44:58
  Here's our debt clock. And here look at that.
• 45:01
  We're almost now to 30. We just got to 35 trillion.
• 45:04
  We're almost to 36 trillion. As this number grows, Follow my
• 45:08
  follow. Follow the yellow brick road.
• 45:12
  Follow my cursor as this grows. This grows the interest on the
• 45:17
  debt, OK, And we're almost to a trillion per year.
• 45:20
  We're now spending more on debt than we are on the National
• 45:23
  Defense and soon we'll be spending more on debt than we
• 45:26
  are in Social Security and Medicare.
• 45:28
  But nonetheless, as the debt number grows and interest rates
• 45:31
  and nobody wants to buy the debt, interest rates continue to
• 45:34
  go up. We got to.
• 45:35
  Pay more to get people to buy the debt.
• 45:37
  That makes the interest expense, which we get nothing for, go up
• 45:41
  and up. But that interest expense feeds
• 45:44
  into this number, the US federal budget deficit, which is
• 45:47
  exploding $2 trillion per year. And guess where that goes?
• 45:51
  Well, that gets locked onto the US national debt.
• 45:54
  So this is a debt spiral, and it's only getting worse.
• 45:59
  Let's run over here quickly. And look at that, the dollar to
• 46:04
  silver ratio now we're at 731. Yesterday we were at 729 for
• 46:08
  each one ounce of silver being produced each one oz for the all
• 46:13
  the silver in the entire world for this being produced this
• 46:16
  year for each one of those ounces of silver, the US
• 46:19
  government is creating over $730 in paper money via the into a
• 46:27
  money supply big warning guys, big warning and then I got to
• 46:31
  give you a big tip where you can go next not but big warning
• 46:35
  right now we're in a situation I think the real estate market is
• 46:40
  crashing. Do you own a house I do right.
• 46:45
  A lot of you do maybe you're looking at buying a house.
• 46:48
  I think that we could be in massive trouble in the
• 46:50
  residential real estate market and let me show you why right
• 46:54
  here because I laugh a little bit as I say this but if Saint
• 47:01
  Louis Saint Louis, I live in Saint Louis by the way is the
• 47:07
  nation's fastest selling housing market is Saint Louis report
• 47:11
  says this is according to I think Zillow Saint Louis area
• 47:15
  homes spent the median of seven days on the market in September
• 47:19
  before going under contract On a serious note, I'm telling you if
• 47:24
  Saint Louis is the hottest real estate market in the country,
• 47:28
  that's not a real good sign OK that would to me would mean
• 47:32
  because we're. We we're always.
• 47:34
  Kind of the last real estate market to catch the wave up and
• 47:38
  I think we're kind of the last to feel the crash.
• 47:40
  I got a feeling that we could be having some serious trouble in
• 47:44
  real estate markets in places like California, Florida and
• 47:48
  whatnot. Because if Saint Louis is the is
• 47:51
  the world's. Nation's hottest real estate
• 47:54
  market. We're in big trouble.
• 47:57
  Hey, guys, don't forget. Here, let me show you real
• 48:00
  quick. This is going to be fast.
• 48:01
  I unboxed one of the one of The Dirty man safes last night.
• 48:05
  But look at this. This is the next biggest one.
• 48:10
  How big this thing is? The big dirty man?
• 48:13
  I think this is The Dirty old man.
• 48:15
  Remember, you can save your can bake buried treasure in your
• 48:18
  backyard. OK, cool.
• 48:21
  Look at this. I got the little dirty man.
• 48:24
  Where is it? Up there.
• 48:26
  Right by the platinum bear. But I mean, this thing's big.
• 48:31
  This one's big. That's The Dirty girl.
• 48:33
  That's small. Pretty interesting.
• 48:35
  I like this idea of buried treasure in the yard.
• 48:39
  Right? That immune from fire
• 48:41
  everything. And where did the pirates, what
• 48:43
  they do with their silver? They buried it.
• 48:45
  That guy in in in Denmark that found, you know, 85,000 silver
• 48:51
  coins buried. I like this idea of having
• 48:53
  something buried that only I know about.
• 48:56
  Only only I know where it is. I do have a discount code on
• 49:00
  those. Ron 10, Ron Ron 10.
• 49:04
  There's a link in the description of the video.
• 49:06
  Hey, go to Bald Guy Money right now.
• 49:09
  He's got a new video coming out in just a few minutes.
• 49:12
  Bald guy money. A lot of you follow him already.
• 49:15
  He's a great guy, a great friend of the channel.
• 49:17
  And in like 2 minutes he's got a new video coming out.
• 49:21
  He only puts out a video once a week.
• 49:24
  They're shorter than mine and they're they're just packed with
• 49:27
  great information. He's a great friend of the
• 49:30
  channel. Go over there and tell him
• 49:31
  you're from the basement. Say hello.
• 49:33
  All right, guys, have a great day.
• 49:35
  Thank you. All right, and I will see you
• 49:37
  soon. Thank you to the moderators.
• 49:39
  Big Tim, the Silver Shire, Jake from Jake's costume, The one and
• 49:43
  only Jake, the one and only Annie Oakley.
• 49:45
  Have a great day. Thank you.
• 49:47
  Well, it's going to be interesting to see how the
• 49:49
  silver and gold market open up tonight.
• 49:51
  Be prepared for anything.