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💥 WARNING! 💥 - The SCARY Truth About Gold and Silver Prices Right Now! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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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.
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Thank you for being here. Thank you for being part of the
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basement. Please subscribe to the channel,
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give the video a thumbs up. Super chat, super thanks.
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Always super appreciated. But I'll start with one very
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scary statistic and then we'll move into the election.
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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,
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excuse me, is going on right now.
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Let's have a drink of coffee, basement dwellers about a short
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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.
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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
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short positions in the precious metal.
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According to data from the CFTC, the open interest in silver
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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
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equivalent to a year's worth of global silver production.
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So they're saying, and that's what I said last night, some
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pretty, you know, there, there's, there's a pretty wide,
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I don't know if, if, if, if some people are, are calculating this
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is the net short position versus, excuse me, just the
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total short position. But anyway, the Jerusalem Post
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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
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$1.3 billion in value. The scale of the short, short
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position is particularly alarming, giving that it is
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reportedly concentrated among just five U.S. banks.
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Industry analysts are questioning how such a small
18:04
group of institutions could take up a short position.
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What happened here? OK.
18:14
Looks like I got attacked by a virus or something.
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Anyway, how did these five banks build up such a massive short
18:22
position? Right, We'll think about this.
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They're sitting on that right now.
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They sold silver with the idea that at a later date they could
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buy it back at a lower price. That's a short.
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That's what you do when you short something.
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You think the price is going to go down, so you sell it now at a
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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
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probably double down, increase to their short position over
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time. Now guys, we're at a point, OK,
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I don't care if it's 300,000,600 million or 700 million oz that
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are short in the market. But every time the price of
19:05
silver goes up by a dollar $2.00.
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And we talked about this. The reason why it's so important
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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
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$3 per oz. I said this the other day,
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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.
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So sometime over the next 363 days, we're going to have at
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least two days where we have a silver price that goes up by at
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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.
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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.
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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
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now, so they come back in to buy 100 million ounces of silver.
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Right, nobody's selling at that point.
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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?
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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.
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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.
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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.