Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 BIG NEWS from Peter Schiff! 🚨 -Gold and Silver Price News Update

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🚨 BIG NEWS from Peter Schiff! 🚨 -Gold and Silver Price News Update · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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$12,000 gold price? How about 14,000?
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How about $26,000 per oz for gold?
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We're not going to forget about silver, my fellow basement
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dwellers. What about $100,000 gold?
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Peter Schiff is making forecast, giving his ideas about gold,
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yes, that Petership and we're going to talk about the
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fundamental reasons why he feels that way, but also the chart
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reasons. We'll dig into that.
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The Bitcoin people are even talking about gold.
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The Wall Street Journal is talking about precious metals.
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Where are we headed? My fellow basement dwellers, I
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know where we're headed this morning to a good time and a lot
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of information about what's going on in the gold and silver
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market. But the most important thing
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we're going to do, right is realize and recognize that we're
0:52
here together. It's a big deal.
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Thank you for joining us. Please subscribe to the channel,
0:58
give the video a thumbs up and Oh yeah, super chat.
1:01
Super thanks are always super appreciated, but never, ever
1:04
expected. We're also probably the most
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critical piece of information we want to talk about is silver.
1:11
Three times. I'm going to show you something
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that will blow your mind about silver 1%.
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Just one little bitty, itty bitty percent of money that you
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and your neighbors have could completely explode the silver
1:26
market. But let's talk about Peter
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Schiff first. Let's, let's realize, let's pull
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up the gold chart. Peter Schiff in a recent
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interview, recent interview said that he thinks the the gold or
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silver price could go up six or seven, maybe 8 times from here.
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What he talked about, let me get you back on my screen.
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I want to I want to look at you. What he pointed out was that the
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rally that we had from 2002 thousand one through 2011, we
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saw the gold price. Did I say silver earlier?
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Anyway, I meant to say gold price.
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This is live. There will be mistakes.
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The gold price from 2001 to 2011 went from about $250 per oz all
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the way up to almost $2000 per oz and we never really went
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above $2000 gold until just recently.
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Guys, we've never really made it up above where we are now above
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$2000 until just recently. It's a big, big deal.
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What that means is, and I believe what he's saying is this
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is that will ignite the second-half of this rally.
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Let's go out to the gold chart. I'm not going to tease you this
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time. So what he points out, here's
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the long term gold chart from 2001.
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One you can see we had gold at about let's say $250 for 10
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years. Gold rallied all the way up to
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$1900 per oz. And then for a long, long time
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here, let's get out our Crayolas here.
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For a long, long time, we did not go back above that level.
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If we draw a line across here, all right, we can see in 2020 we
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poked our head back above 2002 thousand what, 22.
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We poked up above 2000 member. That's that double top.
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Same thing going on right now in silver, by the way, at $32, but
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we'll save that for later. And then we went up again, back
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down. And now this is the first time
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that we're really all the way up above this level.
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What he's pointing out is that when we look at this move from
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here to here, that's what 7 times roughly that the gold
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price went up, right? Sure, it went from $250 to
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almost $2000.00. But what he is saying is we
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should have that same move from here, a six or seven time
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increase in the gold price from $2000.
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That's very important from this level right here that we should
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have a six or seven times increase, not 6%, not $2000 six
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or 7 * 6 * 2000 is 12,007 times is 14,000.
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So that's how he looks at it from a chart perspective.
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However, he thinks that the potential is much, much higher.
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And the reason why, and it makes sense does basement dwellers,
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right? Peter Schiff has been studying
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this for decades and decades. It's the dollar, right?
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It's not gold going up in price. It's the dollar going down in
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value. Remember, basement dwellers, we
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measure our wealth in ounces of silver, in ounces of gold,
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right? We get mixed up.
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We all do it. I'm, I'm guilty, I admit, right?
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I'm wrong on this. Often we all, we, we, all we
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talk about is gold in terms of dollars.
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But the reality is, right, it's not about the price of gold
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going up in dollars, It's about the value of dollars going down,
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OK, He says, he points this out, if gold can go, and this is true
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gold, and it did. This gold went from $20 per oz
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all the way to $2600 per oz. Why can't it go from 2600 where
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we are roughly today, and we're going to go check on that here
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real soon all the way to 26,000? Why can't we have a 10XA100X
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really, or even 100,000? Now where it gets interesting is
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that the Bitcoin people are even talking about this the crypto
5:39
world, right? There's a lot of contention
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among some parts of the crypto world and the precious metals
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world. I stay out of that whole thing,
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but I think it's very interesting that the the Bitcoin
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people are even talking about this.
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But first let's go out and check on the gold and silver price.
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We talked earlier in the week, OK, This is not the update, so
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I'm going to press the the pen backs magic button and I'm out
6:05
of high blood pressure medicine. So OK, hey, silver is up $0.33,
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gold up $21.55 per oz to $2650 per oz.
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We're going to talk about more about this later with the
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reasons why we are in this new paradigm guys, but we are there,
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OK? We talked earlier in the week
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that I thought I predicted that we would either have silver
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close to $32 by Saturday or $28.00.
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It looks like the $32 is going to come through.
6:41
Hey, let's say thank you to channel sponsor Pendex.
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right? Do your own due diligence.
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give pinbecks a shot. See what they can do for you
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because their prices are always ultra competitive, their
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It always weighs a couple oz more because for the same amount
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of money that I could have spent at one of the other online
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Thanks PMBEX for sponsoring Ron's basement.
7:51
And I just want to show you this blew my mind the other day.
7:54
Where is it not Austrian? Australian.
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I've not checked so I still can't look.
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Guys, silver price $31.43 and you can get 2024 brilliant
8:09
uncirculated Australian Kangaroos for $33 and set like a
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little over $2.00 over spot. Now granted that is the the the
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bulk, bulk price. If you're buying fewer, the
8:20
price will be a little bit higher.
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But still we are so lucky in this country.
8:26
We really are like we RIP on the United States, but the reality
8:29
is our ability to buy precious metals, most of us don't have to
8:32
pay sales tax and we can buy these unbelievable great
8:37
sovereign minted coins for not that much over the spot price of
8:42
silver. That is not going to last.
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There's we're going to have a day, but you better be ready for
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silver shortages and silver squeeze because they're going to
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happen. It's going to happen.
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It's all do you remember, right? Do you remember during the
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little banking crisis, during the health crisis of 2020, you
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get to wait 8 weeks, 9 weeks, 5 weeks, whatever it was to get
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silver and gold shipped to you. It will happen again.
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I believe it. Hey, there's Pat Holland from
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the Missouri Freedom Initiative. How you doing, buddy?
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Good to see you at that, Pat. Time to have Pat back on the
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channel. All right, guys, Peter Schiff
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says the dollar losing so much value.
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Oh, let's go see what the bitcoiners are saying.
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I just want to point this out. I think this was to me very
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interesting that here it is bitcoin.com news.
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Peter Schiff predicts gold, Bitcoin On the big Bitcoin news
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website, they're talking about gold.
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And just so you know, Peter Schiff has been involved in, and
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I love Peter Schiff. He's been involved in some
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heated debates between the Bitcoin community and the
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precious metals community. So I find it very interesting
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even the Bitcoin people want to cover Peter Schiff and what he's
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saying about precious metals. Peter Schiff predicts gold could
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soar to $100,000 as the US dollar weakens Economist and
10:07
gold advocate Peter Schiff noted that if gold could rise from $20
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to 2600, it could potentially reach 26,000 or even 100,000.
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There was something else. Basically, what they're also
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talking about here is how Warren Peter Schiff warned how the US
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economy faces severe risks as China continues to grow.
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Contrary to media reports, he also criticized US foreign
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policy for driving up the national debt.
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And he pointed something out here.
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We've got our troops all over the world, but we can't even
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afford to provision them without borrowing huge amounts of money.
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I don't think the world is going to pay an ever increasing
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tribute to the United States to maintain this situation.
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Ship argued he and he talks about war and inflation.
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Now, we looked at the charts. We looked at why Peter Schiff
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says $12,000 gold, $14,000 gold. But what were the fundamental
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reasons? The fundamental reasons why he
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sees the potential for gold to go?
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He said it as much as $100,000 per oz.
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Yeah. I love Peter Schiff.
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Do you love Peter Schiff? You know, he's kind of like one
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of the original people that was out there talking about precious
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metals. And I don't watch them enough.
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Every time I watch a Peter Schiff interview, one of my
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friends asked me the other other day, he said, do you watch Peter
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Schiff? I said, not that often, but I
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do. But it's funny because every
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time I do watch a Peter Schiff interview or listen to his
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insights, I think, man, this guy is dead on.
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I mean, he really has it down South.
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Soaring government debt. It's an unsustainable situation.
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Check. We know that declining dollar
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value, the dollar is losing its status as well.
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Global reserve currency, check. Rising inflation, This is the
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guys. Inflation will rule the day.
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Get ready for big inflation. I'm warning you, it's real.
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It's going to happen. I could be wrong, but I am real
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confident on this one. Mathematically, it is without a
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miracle, Literally, we are going to have massive inflation.
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And why? What is the reason why?
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We know that's good for gold and silver.
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Look, we can look at an example. Yesterday we had higher than
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expected inflation numbers. The CPI report in gold and
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silver took off. It's a new world.
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It's a new paradigm, right? That's a big deal.
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I'm hearing people like Rafi Farber said comparing it to
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1979, right, guys, we have entered into into a new zone.
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I don't know how to say it. I'm having, I'm struggling.
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Somebody help me. A new weather pattern for the
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precious metals inflation used when we would get high inflation
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numbers that used to kill the the price of gold and silver.
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That's no longer the case. You know why?
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Because the market is waking up. The inflation can't be
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controlled. There's this thing called the
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national debt that's out of control.
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The inflation and the inflation we're having now is not because
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of a booming economy. It's because of a dollar problem
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and a debt problem. And it's only going to get
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worse. You didn't create it.
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I didn't create it. You're like me.
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You love your country. I mean, I've been invested in a
13:35
self waving American flag. I'm disgusted.
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Are you? I'm disgusted with what they've
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done. But the the reality is it's
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going to result in much, much higher inflation.
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And what's exciting for us is this new prospect, right?
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The gold and silver, gold and silver, that's they've always
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done that. Anyway.
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Take a step back and think about it.
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That's what gold and silver do. They protect you against loss in
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value in paper money. What is loss in value in paper
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money? Loss in value in paper money is
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inflation. All right, that's what's
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happening now. We've got the Wall Street
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Journal, the Wall Street Journal talking about gold.
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OK, we've got Bloomberg Bitcoin, the Bitcoin news channel talking
14:22
about gold, but what about the Wall Street Journal?
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This could be a big deal. The more mainstream media pays
14:29
attention to gold and it is just starting.
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It's just starting right now, and it is a huge deal.
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We don't realize I went. We don't realize we're, we, we
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live in an echo chamber, OK? We have to be honest with
14:50
ourselves, right? We love to talk about gold and
14:51
silver. I love that you come down here
14:53
in the basement, but 400 people on a Friday morning, right?
14:56
We love to talk about gold and silver, but we do live in
14:59
somewhat of an echo chamber. Nobody else talks about gold and
15:03
silver like we do. But when the people, when that
15:06
inflation hits, man, I felt it. I felt it in my bones this
15:11
morning. You know, I spent hours doing
15:13
analysis before I come on here and there's no way that we're
15:17
going to avoid inflation. But what's critical to
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understand is that most people have no clue it is coming.
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So when it comes six months, nine months, maybe a year, maybe
15:30
a year and a half, whenever it comes, whenever we get that next
15:33
big wave of inflation, right. What's what's so exciting about
15:38
it as a precious metals investors, we're going to have
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mass numbers of people suddenly, right?
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The Costco dads are just the very beginning mass numbers of
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people suddenly waking up. OK, suddenly waking up and and
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I've got data. OK, sorry, I just got was
15:58
informed it's time for me to take a sip of coffee.
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Hold on guys, this is first. This is for lovely Susie.
16:04
She wanted me to drink out of the Ron's basement coffee mug
16:06
today and I'll do anything. Susie says anything.
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Get yourself a Ron's basement coffee mug.
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Here I am Hawking coffee mugs. Hopefully I did a good job.
16:20
You heard me slurp. I got data about this inflation
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that's going to come, what it's going to do to the silver price
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in particular that I think is, and I think you'll find this
16:34
mind blowing as well. But let's go out and look at
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what the Wall Street Journal said here.
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Hold on one second. Here we go.
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The Wall Street Journal. Come on.
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Wall Street Journal yesterday, gold snaps losing streak amid
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inflation questions. Oh my gosh.
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The Wall Street Journal is telling us gold rises after
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hotter than expected CPI report injects some uncertainty into
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the idea of shrinking inflation and a soft landing re energizing
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the appetite for safe haven assets.
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This is the Wall Street Journal. That is a very powerful
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sentence. Let me explain to you why,
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because again, red hot CPI number, OK, that is so over the
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last two or three years we've, we've, we've beaten this one to
17:25
to death. But guys, over the last two or
17:27
three years, higher inflation numbers meant gold and silver
17:31
went down because that meant the Fed was going to have to be
17:34
tighter. Well, the Fed is done. the Fed
17:36
is up a Creek without a paddle. We won't go down that path, but
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that's a fact. We know that, we understand
17:41
that. So now the fact that hotter CPI
17:44
numbers are are resulting in higher precious metals prices is
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a big deal into the idea of shrinking inflation in a soft
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landing, right? There's no soft landing.
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There's no shrinking inflation in that re energize the appetite
18:01
for safe haven assets. Even the Wall Street Journal is
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agreeing with us. It took them a while, but they
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came around us basement dwellers.
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OK, I found this to be absolutely stunning about
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silver. And then we're going to talk
18:20
about a new analyst who's calling another analyst calling
18:25
for $3000 gold. Will one of these analysts just
18:28
break the mold and say $3200 gold or $3500 gold?
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I mean, come on, analyst. So we're going to talk about
18:35
that. But first, I can't, I can't hold
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off anymore. I have to share this with you
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guys. I've proof of how we could have
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a tripling, quadrupling even more in the silver price alone.
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Simple, basic mathematics. But it's not just mathematics,
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It makes good common sense. OK, right Now we pull up a
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couple of quick articles to set the stage for this 3X in the
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gold and silver market. Here we go.
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Here's one from the Wolf St. Money market funds, large CDs,
19:12
small CDs and T-bills. Americans and their huge piles
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of interest earning cash. Americans do have a lot of cash
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guys. Listen to this.
19:22
Household money market fund and CD balances rise to a record
19:27
$7.4 trillion. OK, Americans hate.
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Let's look at this in red and then we're going to talk about
19:35
why this means we could have a tripling in the silver price,
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more than that even. But Americans hate, hate, hate
19:41
inflation, but they like the higher yields on their cash that
19:46
came with it. And they put a lot of cash to
19:48
work by yanking it out of their bank checking accounts and
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nearly 0% savings account and putting it into much higher
19:56
yielding money market funds and brokered CD.
19:59
So let's go down here and look at this chart, not this one.
20:05
This one, OK, US money market funds total in trillions of
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dollars. Look over here on the left, $6.5
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trillion. So congratulations, my fellow
20:18
Americans, you have almost $7 trillion in money market
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accounts. What does that have to do with
20:25
the price of silver and gold, by the way?
20:27
But we're going to focus in on silver because this is
20:31
absolutely stunning. OK, when the when the inflation
20:36
takes off, think about this. Now I want you to, you know,
20:39
close your eyes. We're going to play make believe
20:40
for one moment. You've got $6000 in a money
20:45
market account 60,000. Whatever the case may be, when
20:49
inflation takes off, and it will take off, people are going to
20:53
realize when inflation goes back to 10/15/20 percent, that money
20:59
that people are making and they're only making 3 1/2, four,
21:02
4 1/2% right now on these money market accounts.
21:05
I've got money and money market accounts, my hands up, OK.
21:08
But when inflation goes to 10/15/20 percent, all those
21:12
people with all that $6.5 trillion that don't own gold and
21:18
silver, remember that are going to realize, oh, this stinks.
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I'm only making 3% on my money in the money market account, but
21:28
inflation's running at 10%, eight percent, 18%, wherever it
21:32
goes to. They are going to panic, OK?
21:35
Just like they kind of panicked and put all that money into
21:38
those money market accounts and what are they going to do?
21:42
Remember, this is critical, OK? What is what are gold and
21:47
silver? They are safe haven assets,
21:50
right? They're good for times of
21:51
uncertainty. Silver and gold.
21:53
What's a money market account? It's a safe haven asset, right?
21:57
People in their minds, even though it's made-up of Unicorn
22:00
fart dust paper money. Think of a money market account
22:04
as a safe haven asset. I'm included.
22:06
I'm guilty, OK, I don't have every penny I own and silver.
22:10
So nonetheless, I digress. When that money market, that
22:15
safe haven, that safety net people think they have starts to
22:19
lose value when they realize I'm only getting 3% on my money
22:22
market account, but inflation's 15%, right?
22:26
They're going to panic. So what are they going to do
22:29
with that money? And wait till you see what
22:32
they're going to do and wait till you see what it's going to
22:34
do to the price of that silver and gold that hopefully you
22:38
already have your hands on. Get when that when that money,
22:41
when they panic about the fact that they're losing money on
22:44
that money market, are they going to put that money into the
22:47
stock market? No, they're not going to put it
22:50
into the stock market because the stock market's going to be
22:52
doing crappy at the same exact time.
22:56
That's a fact. OK, so they're not going to put
22:58
that money into there actually could be money coming out of the
23:02
stock market at that point. I digress.
23:05
Are they going to put it in the bond market?
23:07
No, it's basically the same thing as their money market
23:10
account. They're not going to get good
23:11
rates in the bond market and bonds can be risky on top of
23:15
that if you do want to bond. So they're not going to put that
23:18
that 6.5 trillion that suddenly that safe haven money that
23:22
they're losing money on. They're not going to put it in
23:24
the stock market. They're not going to put it into
23:27
another money market or bond account.
23:29
Are they going to put it into real estate?
23:31
No, they're going to put it into gold and silver.
23:35
It's going to be the only game left in town, guys.
23:38
What else are people going to do?
23:39
Somebody? Maybe I'm delusional partially,
23:45
but what else are people going to do with all that money?
23:47
And this is where it gets absolutely unbelievable crazy.
23:53
Hold on here. I'm going to show you what
23:58
they're going to do. Sorry, I can be honest with you.
24:02
I lost track of time this morning.
24:04
I didn't realize it was time to go live.
24:05
So I'm just hold on here. Let me pull this up.
24:07
Add the stage. Here's our friend.
24:10
Remember him? This came from my friend Don
24:11
Indress. This is not what I'm going to
24:13
show you. But this guy said if you can
24:14
just print money, then why am I paying taxes?
24:19
Oh, don't ask questions like that, OK?
24:21
These are people portfolios without gold.
24:24
They're whether they're wearing their seatbelts around their
24:27
necks. That's not what I'm going to
24:28
show you. Let's get back on track here.
24:30
This is what I want to show you. OK, on the left, 6.5 trillion,
24:35
that big green bar, that 6.5 trillion in money market
24:39
account, safe haven, safe money, right?
24:43
For times of uncertainty, when people move, if just one
24:47
percent, 1% of that 6.5 trillion moves out, that's equal to,
24:54
Hopefully you can read my writing there, $65 billion, one
24:59
percent of that safe haven money.
25:01
This is not the scale. One 1%, you know, that would be
25:07
equal to, just for, just to give you an example, three times the
25:13
entire value of all the silver, three times all the value of
25:18
every silver mining company in the world.
25:21
OK, which is about $20 billion. Maybe it's gone up a little bit
25:25
'cause the silver miners have been doing it, but nonetheless,
25:27
roughly 1% of that safe haven money looking for a new home.
25:32
Now, I don't think it's necessarily going to go into
25:34
silver mining stocks, but it might because all the other
25:38
stocks, we can have a situation just like we had during the
25:40
Great Depression where the only stocks that did well were the
25:45
gold mining and the silver mining stocks.
25:47
OK, If that one percent, 65 billion were to go into physical
25:52
silver, just for reference, at $30 per oz, OK, the the world
25:57
produces about a billion ounces per year.
26:00
That's 30 billion, 32 billion worth of silver that could buy 2
26:05
times the entire world silver production for one year, 2 times
26:12
OK. And that's just if 1% of the
26:15
money comes out of the safe haven money market funds.
26:20
It's astounding, guys, think about it, think about it.
26:24
I mean, it's, it's, it's, I think that it's going to happen.
26:29
I could be dead wrong. Don't make any financial
26:31
decisions based on what I'm saying.
26:33
But all these people that have all this money in money market
26:38
accounts, that's their safe money.
26:40
If they wanted to put it at risk, they would have put it
26:42
into the stock market. They would have bought apartment
26:45
buildings or whatever real estate or bonds.
26:47
No, they want it safe. That's their safe money.
26:51
When they panic because of inflation that is coming and
26:56
they think my safe money is losing money.
26:59
People aren't that dumb, right? When they realize that I have
27:02
$100,000 in a money market account and I'm making 3000A
27:08
year in interest on it. However, groceries are going up
27:11
at 15%, oil, gas is going up at 1520%.
27:16
They're going to panic and they're going to look for
27:18
somewhere else to put that money, that safe haven money.
27:21
And I'm telling you again, you know, but I, I really believe, I
27:27
mean, we are in and, and on top of that, aren't we just at this
27:30
point where, you know, we already have, this is, this is
27:34
critical for us to remember as silver and gold investors.
27:39
We already have, every American knows a few things there, right?
27:43
The Declaration of Independence, whatever.
27:45
But they also know that silver and gold are valuable, even
27:48
though they don't like it and they don't invest in it.
27:51
Every single American for is is nose and is taught that silver
27:56
and gold are valuable. All your neighbors who laugh at
28:00
you or me, they can laugh at me. I don't want them laughing at
28:03
you, right? The gold pumper.
28:05
The silver pumper. At the end of the day, they all
28:09
know that silver and gold are super value.
28:12
It's ingrained into society. People know it.
28:15
My 12 year old kids know it. OK, Any 12 year old kid knows
28:20
it. So we already have that base.
28:22
But now it's it's starting to percolate.
28:24
We've got the the Costco evidence of what's going on.
28:30
We've got more and more people right watching silver and gold.
28:34
Guys, you're part of a growing community.
28:37
Sorry, my phone's ringing. You're part of a growing
28:40
community. Susie would like me to take
28:44
another sip of coffee. OK, It's percolating.
28:49
Just it it we could see a coming together of factors that really
28:56
I think could result. I could be wrong, but could
29:00
result in unbelievable, astounding increases in the
29:06
value of silver and gold. The real value.
29:10
The price. Yeah, I absolutely.
29:12
But the real value, OK, and we're hearing it.
29:16
Inflation is going up. OK, inflation.
29:19
We, we got more evidence yesterday.
29:21
Inflation. I'll say it my promise.
29:24
I won't say it again. Inflation is absolutely gonna go
29:27
up. Let's go out and do a quick
29:29
update while I'm running out. I'll tell you what, let's go to
29:33
pin backs and see what's going on.
29:35
OK, wow. Gold still up $21.00.
29:38
Silver is up $0.36 per oz. Awesome, awesome, awesome.
29:45
Now we have a a new analyst telling us that we should
29:48
prepare for $3000 gold. But she has a very interesting
29:53
observation that I haven't really heard anybody pointed out
29:57
this way as to why we could easily see this $3000 gold.
30:01
Let's go out to Kit Go and our friend Neil's gold is going to
30:05
$3000 as the market faces a tectonic shift.
30:11
That's from capital lights. She then and that comes from our
30:14
friend Niels Christensen at Kitco.
30:17
Couple paragraphs I want you to focus on here, guys.
30:20
Although although the gold market is struggling to attract
30:24
new bullish momentum after its recent run 2 consecutive record
30:28
highs, the rally is far from over, according to one market
30:33
analyst. This is Chantelle Sheeven she's
30:37
the head of research at Capitol Light Research.
30:40
OK, there's, there's a couple things she highlighted, the
30:43
second of which I think is critical and kind of a new way
30:46
to look at things that I believe makes sense and, and, and adds
30:50
more credence to our thesis that the silver and gold price are
30:55
headed higher. She even highlighted the
30:57
geopolitical turmoil has been a key factor behind gold's nearly
31:01
30% rally this year. What do you think?
31:04
Do you feel it? I do.
31:06
She added, however, that the safe haven premium and gold
31:09
remains low. That means that the the the
31:13
premium, the price of gold is really not yet reflected the
31:18
true level of geopolitical risk that we're facing right now, as
31:22
investors are only just beginning to focus on specific
31:28
hotspots. And she talks about the Middle
31:30
East and everything else. She says in that scenario of
31:36
things escalating in the Middle East, $3000 an ounce is not that
31:40
far away. If we see the conflict in the
31:43
Middle East escalate, I suspect we could see $3000 an ounce
31:47
before the end of the year. And what did we hear yesterday
31:50
guys? Another analyst that said that
31:52
if if I Israel bombs Iran, that we could see $3000 gold.
31:58
He said in an instant. OK, now this is where it gets
32:02
super interesting in orange. Some of the factors that we now
32:09
see impacting the gold market are ones we first started
32:12
watching and talking about 16 years ago.
32:17
We've always seen issues like growing debt is a long term
32:20
factor, but at some point the long term, the long term ends up
32:26
becoming today's concern. The, the, the, the chickens came
32:31
home to roost or the hens came home to roost.
32:33
I don't know. Rick Rule said that when I was
32:35
talking to him a couple of months back.
32:38
The hens have come home to roost, right?
32:40
This, this debt problem that we've been following for a
32:43
decade, in particular the last few years, is now.
32:48
It's now's problem. All of the little things we've
32:51
seen happen in the last two years are now starting to add up
32:56
and that is what has driven gold prices higher, she says.
33:00
We are nowhere near the peak in the gold cycle.
33:03
We haven't even reached the euphoria stage where prices can
33:08
really rally, she said. What do you guys think?
33:14
One of our favorite words, confluence, we are facing.
33:18
Do you feel it? We are facing a confluence of
33:22
factors that are going to drive the silver and gold price way,
33:26
way, way higher. OK, inflation is here and guys,
33:30
now we're going to have some fun because I'll tell you what,
33:33
there is some information out there.
33:37
Hold on, Let me come back to you here.
33:40
Let's everybody have a sip of coffee while I run out.
33:43
There's a couple things I want to pull up that are just
33:45
shocking observations about the world we're living in right now,
33:51
but also the fact that here we are.
33:57
OK, here we go, Silver Santa. Santa Claus is back in town.
34:07
Here's what Silver Santa had to say.
34:10
He says it's time the Fed is cornered.
34:13
The rates need to go down to reduce the debt interest.
34:17
OK, the Fed needs to lower interest rates so that they can
34:20
even dream about the Treasury being able to pay the the
34:24
interest expense on our national debt.
34:27
And they need to go up to reduce inflation.
34:31
OK, the Fed is cornered. OK, if rates go down, then
34:36
inflation gets out of control, right?
34:39
But they need rates to go down just to be able to pay the
34:42
interest, right, guys? Do you see how this is such a
34:45
screwy situation? But if rates go up, then the
34:49
debt gets out of control and the government cannot afford to pay
34:53
the interest expense. Love it.
34:58
Our friend Granny. This guy is is one of my new
35:04
favorites. No, no, no joke.
35:06
A very good looking chart. We're looking at the silver
35:08
chart here. Price target on silver now $40.
35:12
Note that the 2650 level is already back.
35:15
Tested twice. You guys knew I said I would buy
35:18
silver at 2650. I missed both opportunities
35:23
because of, of of being other otherwise occupied.
35:27
We don't think we're going back, so no need to go back there
35:30
again. I may never get that chance.
35:32
He's been saying for 4.5 years that the commodities bull market
35:36
is your best ticket out of the rat race.
35:39
So don't miss it. Join us at graddy.com.
35:42
This guy puts out some great OK, here's the 2650 range.
35:46
You can see twice recently we went down there.
35:50
He says this is a bullish expanding falling wedge as
35:55
halfway pattern. OK.
35:57
And then look at these purple like there's the purple line,
35:59
then we will go down and then we broke out again.
36:02
We bounced back today. So far, we are bouncing back.
36:06
We'll see how granny's predictions come through, but he
36:09
has been very accurate lately. Let's make gold great again.
36:13
Another one of my new favorites. Just a little, I believe,
36:17
friendly reminder, only 10 trading days until the bricks
36:21
have their massive meeting. All right, possible 40% gold
36:26
backed currency. We, you know, that's going to be
36:28
a big subject here in the coming two weeks.
36:31
Last chance to grab some silver before the show begins and
36:34
there's 10 doing the countdown and there's Russian President
36:40
Vladimir Putin with his gold jacket on.
36:45
All right, got one more for you guys and here we go, Global
36:56
market investor. the US stock, this is crazy.
36:59
This is why we know we talked about this earlier that the
37:01
stock market is due absolutely for a major correction because
37:05
U.S. stock market valuations are near the highest on record.
37:09
And I'm going to explain to you the reason why this is
37:11
important, OK? Another metric flashing red is
37:15
the price to sales ratio, which has recently hit three times.
37:21
That's the highest it's been since 2021.
37:25
Before the 2022 bear market hitthe2000.com bubble peak, the
37:32
ratio was at 2.5. OK, Remember the tech bubble?
37:36
OK, The price to sales ratio was at 2.5.
37:41
Let me explain to you why that's important, OK?
37:44
Because what that's basically saying is that overall, the
37:48
overall market, they're the stocks are basically on average
37:53
trading for three times the price of any stock on average is
37:58
three times the amount of revenue that the company brings
38:02
in for an entire year. Another way to to look at that,
38:07
explain that to you very simply is if you put $100 into, let's
38:12
say the S&P 500 or the Dow or the NASDAQ, whatever, I don't
38:16
know what they were, this is the S&P 500.
38:18
So if you put $100 into the S&P 500, OK, those companies would
38:26
have to return to you every penny of their revenue that they
38:31
that they generate for three years just for you to get your
38:35
money back three years. And that's make believe land
38:38
because companies have expenses, taxes, everything else.
38:41
This is, is to me. And some of these tech stocks
38:44
are trading at ranges that are absolutely, absolutely
38:50
astronomical. All right, guys, thank you for
38:52
being here. Thanks for being part of the
38:54
basement. Thank you to the moderators.
38:55
All right, Jake from Jake's Custom parts, Big Tim, the
38:58
Silvershire and the one and only Annie Oakley and Susie was on
39:01
here for a while as well. But most importantly, thank you
39:04
for being here. All right, you guys make the
39:07
basement possible. It's a big deal.
39:09
I appreciate you. OK, have a great day and I will
39:13
see you soon. Thank you.