Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨WARNING🚨 CEOs of BIGGEST BANKS Issue DIRE Forecast! -- (JP Morgan, Goldman Sachs, Bank of America)

Transcript

🚨WARNING🚨 CEOs of BIGGEST BANKS Issue DIRE Forecast! -- (JP Morgan, Goldman Sachs, Bank of America) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  We all want to know what the future looks like for gold and
• 0:04
  silver. However, it's scary when we
• 0:08
  listen to the CE OS of some of the world's largest banks.
• 0:13
  Yes, Goldman Sachs, Bank of America, JP Morgan.
• 0:17
  All three of their CE OS have said something in the last few
• 0:21
  days which is terrifying regarding the future of the
• 0:26
  economy in the United States. But what does that mean for the
• 0:29
  silver price? What does that mean for the gold
• 0:33
  price, the value of the metals? We're going to dig into that in
• 0:37
  this video. Also big warning, big warning.
• 0:40
  Our old friend Jerome Powell will be speaking in just about
• 0:45
  one hour. That could send reverberations
• 0:49
  through the general markets and in particular through the gold,
• 0:54
  silver and platinum markets. If he says something that's
• 0:58
  hawkish, if he talks about we may need to raise rates, we that
• 1:02
  will be bad for the markets, that will be bad for the value
• 1:06
  of the precious metals short term.
• 1:09
  Remember, this is all short term.
• 1:11
  But however, if he's more dovish, if he hints at the fact
• 1:16
  that maybe they're done raising interest rates, that could be
• 1:19
  very, very good for the price of the metals.
• 1:23
  Now we'll go out on a limb and don't make any bets or any
• 1:26
  financial type decisions based upon what I'm about to say.
• 1:30
  But I will go out on a limb and I bet that we'll have a Green
• 1:34
  Day in the silver market and the gold market by the end of the
• 1:37
  day, because I think the Fed is getting painted into a corner
• 1:41
  right now. The economy is slowing down at A
• 1:45
  at a really, really fast rate. And at the same time, we have
• 1:49
  all this geopolitical turmoil going on everywhere in the
• 1:54
  world. Israel, Ukraine.
• 1:56
  Don't forget about China and the Asia situation as well.
• 2:00
  Don't forget about the situation at the border.
• 2:04
  You know, I was just talking with Peter Grandich.
• 2:06
  If you don't know who Peter Grandich is, I recommend you
• 2:08
  look him up and learn about him. Peter grandich.com.
• 2:13
  He has nothing to sell you. I get no Commission.
• 2:16
  If you go and check out his website, he's just a great guy
• 2:20
  who has decades of experience with the markets and he's he's
• 2:25
  always very kind and generous to give me some of some of his
• 2:28
  time. I'll have an interview video
• 2:30
  that I did with him coming out here in a few days, but he was
• 2:34
  considered the Wizard of Wall Street back in the 80s.
• 2:37
  He's been on CNBC, He's been on Good Morning America, He's been
• 2:41
  on. Almost every major news channel
• 2:44
  has done feature stories about him, and he's also in Ron's
• 2:48
  basement. But we were talking and you
• 2:51
  know, it kind of dawned on me. We were we were talking about
• 2:53
  what's going on and you know since the 80s and then even in
• 2:57
  particular what's going on in the last three years.
• 2:59
  And you know he mentioned right and I mentioned right, we have
• 3:03
  we have war in Ukraine, we have war right now in the Middle
• 3:07
  East. We have a very volatile
• 3:09
  situation going on in China. But he brought up as well we
• 3:13
  have a crisis here in the United States at the border.
• 3:17
  I mean all this has been going on just in the last three years.
• 3:21
  It's a very, very scary kind of macro geopolitical environment
• 3:26
  that we're in. Now, I know you're going to hear
• 3:29
  the old story from Ron again, but that's why I choose to own
• 3:33
  silver. I don't own any physical gold,
• 3:36
  but I own a lot of gold mining stocks.
• 3:37
  That's because I feel like they are a good hedge, a good
• 3:42
  insurance policy against what feels like a lot of pure
• 3:46
  craziness going on in the world. I asked Peter.
• 3:49
  All right. I said if we could go back and
• 3:51
  talk to that 1987 Peter Grandich and and tell you what was going
• 3:56
  to happen over the next, what, 35 years, would you have
• 4:00
  believed me? He said no.
• 4:01
  He said we couldn't even fathom what a trillion dollars was back
• 4:06
  then. Let me give you an example.
• 4:08
  And our friend Pat Holland who's on here, he he has this concept
• 4:11
  called nominal confusion, right, like $100 bill is always $100
• 4:17
  bill. It's to me valuable now, right?
• 4:20
  And it was also valuable 20 years ago, but it's not as
• 4:24
  valuable now in real terms. In nominal terms, yes, it still
• 4:28
  is. But in real terms it's not.
• 4:30
  But let me give you an example, right.
• 4:33
  Let's say 35 years ago, Trillion dollars.
• 4:36
  Seem you. Nobody could really fathom what
• 4:38
  a trillion dollars is. Probably real, similar to what
• 4:41
  we hear. What's after a trillion?
• 4:43
  I think most of us don't know. I could be wrong, but I think
• 4:45
  it's called a quadrillion, right?
• 4:47
  That's like somebody telling me that in 30 years from now, when
• 4:52
  I'll be a young, sprightly, 87 year old in my basement
• 4:55
  communicating with you, my fellow basement dwellers, right,
• 4:59
  35 years from now that we'll have a 90 quadrillion dollar
• 5:02
  debt. I mean, it doesn't work.
• 5:04
  What's going on right now doesn't work.
• 5:07
  The math doesn't add up. And you can watch this interview
• 5:10
  I did with Peter Grandage, but, you know, we don't want to be
• 5:13
  negative. We don't want to be doomsayers.
• 5:18
  But man, if you objectively look at what's happening right now in
• 5:21
  the world, it is downright scary.
• 5:24
  Let's just hit on some of the highs.
• 5:26
  Look, I want to be let's look at the gold price right now. 1940
• 5:32
  fifty per oz, The spot price guys.
• 5:35
  That's good. We are within.
• 5:40
  I hate to use this term spitting distance of a new all time high.
• 5:43
  And how many times have we talked about when we get to an
• 5:47
  all time high in gold measured in US Fiat, Unicorn fart desk
• 5:52
  dollars? I believe we're gonna jump right
• 5:55
  from that 2100 range to 2600. You can you better hope I'm
• 6:00
  right, but if I'm wrong, you can hold me to it.
• 6:03
  Just like my prediction today about after our old friend
• 6:06
  Jerome Powell speaks in New York City at 12 noon Eastern, that's
• 6:12
  going to move the markets and I think it's going to be good for
• 6:15
  the silver and gold price, but I could definitely be wrong.
• 6:18
  Silver, $23 per oz, OK. So they're holding in there.
• 6:23
  They're holding in there. The gold price is behaving a
• 6:26
  little better lately, right, Probably more due to the
• 6:29
  geopolitical flight to safety function that it's performing
• 6:34
  and as we've talked about right, in terms of flight to safety
• 6:38
  products that people can go to gold and silver are becoming
• 6:43
  more and more attractive to more and more people throughout the
• 6:47
  world. But what is going on with
• 6:49
  interest rates? Does the Fed even need to raise
• 6:53
  interest rates because the market is taking care of it?
• 6:56
  Guys, the 10 year bond yield right before I came on is
• 6:59
  pushing up against five percent, 4.96% was the last I saw.
• 7:07
  This is going to cause major problems in the banks.
• 7:09
  Maybe that explains why the CEOs of the three biggest banks put
• 7:14
  out basically doom predictions which we are going to get to.
• 7:17
  I'm going on and on and I'm rambling today, but we're going
• 7:21
  to get to these doom predictions from the likes of of David
• 7:24
  Solomon from Goldman Sachs, Jamie Dimon from JP Morgan and
• 7:28
  of course Brian Mowoyahan from the Bank of America.
• 7:33
  But we got to remember something about these 4.9.
• 7:36
  Do you know yesterday the average rate on a 30 year
• 7:40
  mortgage went over 8% the first time since the year 2000.
• 7:46
  Real estate is very likely going to have a crash, right?
• 7:51
  Right now, what's happening is there's so few buyers, so few
• 7:55
  sellers as well. So the market like found a new
• 7:59
  equilibrium at a very much lower volume level.
• 8:03
  But as soon as people start losing their jobs, for instance,
• 8:08
  right? Or inflation gets to the point
• 8:10
  where they can't even make the house payments on their 3%
• 8:13
  mortgage rates and there's a supply of houses that come on to
• 8:17
  the market. We're going to see across the
• 8:20
  board potentially major issues in the real estate market.
• 8:24
  And I hear that in places like San Francisco and some of these
• 8:27
  Bubblish type cities, we've already seen 20 to 30% decreases
• 8:31
  in the prices of homes. It'll be interesting.
• 8:35
  I don't get this and I'm going to go off on a little soapbox.
• 8:37
  So don't get mad at me. Why don't you get mad at me
• 8:39
  here? But I heard yesterday we're
• 8:41
  talking about giving $100 billion in aid to Ukraine and
• 8:46
  Israel. And then and then I also heard
• 8:50
  that we're gonna give $100 million in aid to the people in
• 8:53
  the Gaza Strip. And look, I'm against war.
• 8:56
  I say that everything. I don't like war.
• 8:58
  I like nobody talks about peace. Why doesn't anybody talk about
• 9:02
  peace? How come in the last 20 years
• 9:04
  all we hear about is war, War, war, war, war, war, war, war,
• 9:08
  right? Afghanistan, Iraq.
• 9:12
  It's all we talk about. Nobody talks about peace.
• 9:15
  I'd really like for somebody to talk about peace in the world to
• 9:18
  be a much better place. But nonetheless, isn't it
• 9:20
  strange that we're giving money to 1 country that that's going
• 9:25
  to help them attack another country, but then we're going to
• 9:28
  give money to that country to help them deal with the fact
• 9:31
  that they've been attacked? Why are we involved in this?
• 9:33
  And I have a further question and I will go off quickly.
• 9:36
  I heard a guy from Australia just ripping into the United
• 9:40
  States about this last night. OK, this guy is a YouTube and a
• 9:44
  fellow content creator, Mike somebody.
• 9:46
  Anyway, he was like, he was like, what?
• 9:48
  What? What?
• 9:49
  What's the United States doing? He said they can't even provide
• 9:51
  health care to their citizens. You know, we're the only country
• 9:55
  in the world where like, people go bankrupt.
• 9:58
  It's what I understand. The number one reason for
• 10:01
  bankruptcy in this country is healthcare.
• 10:03
  I was dealing with health insurance.
• 10:05
  I have a family. I was dealing with it last
• 10:06
  night. It's a nightmare.
• 10:08
  You know Everything is screwed up except you and me, right?
• 10:13
  You know what my dad used to say?
• 10:15
  He used to say I'm starting to think the whole world is messed
• 10:20
  up. But he didn't use the word
• 10:21
  messed. He used the word that started
• 10:22
  with the letter F I'm starting to think the whole world's
• 10:25
  messed up except you, basement dweller and me.
• 10:29
  And I'm starting to wonder about you.
• 10:34
  OK, enough of that. We're going broke.
• 10:39
  We're going broke in this country.
• 10:41
  You know, watch the interview I did with Peter Grandage and he's
• 10:45
  brought up a great point. You know, when it comes to these
• 10:48
  interest rates and the unbelievable amount of debt we
• 10:52
  have in this country, Peter Grandage basically said the
• 10:55
  reality is nobody wants our debt anymore.
• 10:58
  We're going to wind up like Japan, where the Fed has to
• 11:01
  print money to buy debt, which I think they've done that in the
• 11:05
  past already, but that's going to wind up being the only
• 11:07
  option. They're diluting everything.
• 11:10
  What does that do for the price of your silver and gold guys?
• 11:14
  I'm not giving financial advice. But when it comes to protecting
• 11:18
  wealth, when it comes to protecting our families, I still
• 11:21
  cannot emphasize enough that I feel like silver and gold to 1
• 11:26
  degree or another. Everybody's different.
• 11:28
  Has to have their own comfort level Are the way to go.
• 11:31
  Doom and gloom from the big banks.
• 11:34
  Are you ready? OK, I got to ring the bell.
• 11:37
  1-234-567-8910. Thank you for the thumbs up.
• 11:43
  Hey, I'm going to. I'll, I'll beg you, I'll beg
• 11:46
  you. Ask you a favor.
• 11:47
  If you're not subscribed to the channel, would you please
• 11:49
  consider subscribing to Ron's Basement when those numbers go
• 11:53
  up? That helps me feel good and more
• 11:54
  motivated to get more content out.
• 11:57
  I talk about silver, gold, the market, how we can prepare
• 12:01
  ourselves and I do it on a daily basis.
• 12:03
  So if you subscribe and that's free to do, you know you can
• 12:06
  come back every single day. What are the big banks?
• 12:10
  What does it mean when the top, big banks, these are the biggest
• 12:14
  banks in the world, are saying some not very optimistic things
• 12:19
  about the world. What's Let's slow down.
• 12:23
  Let me talk in my my bedroom voice with you.
• 12:25
  Now let's, let's listen to a Jamie Dimon from JP Morgan
• 12:31
  Chase. Yes, that JP Morgan Chase that
• 12:33
  manipulates the price of silver and gold.
• 12:35
  That JP Morgan Chase, right. The one that's some people say
• 12:39
  is like a a new section of our government.
• 12:43
  I don't know, you know, I'm not going to go there.
• 12:45
  But what did what did Jamie have to say?
• 12:48
  OK, I'm going to quote Jamie Dimon, he said.
• 12:50
  My caution is that we are facing so many uncertainties out there,
• 12:56
  so many uncertainties advising people to act prudently given
• 13:01
  the myriad of risks facing their portfolios.
• 13:05
  His comments echoed his warning and JP Morgan's earnings
• 13:09
  release, where he said, quote, this may be the most dangerous
• 13:14
  time the world has seen in decades, the most dangerous time
• 13:20
  the world has seen in decades. That's from JP Morgan, from J.
• 13:25
  You know, the DJP Morgan, the, you know, Jamie Diamonds.
• 13:30
  Like the biggest banker in the world basically telling you
• 13:34
  that's not me in my basement telling you, oh, you better, you
• 13:37
  better. It's not that's not our friend
• 13:39
  Peter Grandich saying, oh, no, you better.
• 13:41
  You know things aren't right, guys.
• 13:43
  It's not Lynette Zang, right. It's not Andy Schechtman.
• 13:47
  No, this is Jamie Dimon from JP Morgan Chase who's paid to be
• 13:51
  optimistic. Think about it.
• 13:52
  Right. I mean, isn't that like the CEOs
• 13:55
  of companies are have kind of a positive tilt.
• 13:58
  He's telling us that it is the most dangerous time the world
• 14:02
  has seen in decades. We know what's going on in
• 14:05
  Israel, we know what's going on in the Ukraine, we know what's
• 14:08
  going on in Asia with North Korea and China.
• 14:12
  We know what's going on in the border.
• 14:14
  We never talk about that here in the United States, an invasion
• 14:17
  of people from other countries. It is.
• 14:20
  We know what's going on in our cities.
• 14:24
  I live in Saint Louis. I don't, you know, hey, look, I
• 14:27
  love this place. I grew up here.
• 14:29
  I lived in Chicago for six years.
• 14:30
  But the rest of my life has been It is starn right scary in the
• 14:35
  cities. Read about what's going on in
• 14:37
  San Francisco. Read about what's going on in
• 14:39
  the urban cores of these cities. It is not a pleasant situation.
• 14:44
  OK, let's move on to Goldman Sachs.
• 14:46
  What do you say we go to Goldman Sachs?
• 14:48
  Maybe not the largest, but certainly the most sophisticated
• 14:54
  bankers in the world. Now all these guys are above the
• 14:57
  board and wonderful high quality people that are always looking
• 15:02
  out for the well-being of their Muppets.
• 15:03
  I mean clients. Remember that one from it was
• 15:09
  like 8 years ago. There was some recording that
• 15:12
  was made of the Goldman Sachs people talking about their
• 15:15
  customers and they were referring to them as The
• 15:18
  Muppets. Anyway, David Solomon from
• 15:22
  Goldman Sachs, listen to this and we talk about this.
• 15:26
  What does this mean for silver and gold as we process this
• 15:30
  information? David Solomon says, quote, I'm
• 15:34
  still of the belief that there's been a lag in the Fed
• 15:38
  tightening. He said, quote, I do think over
• 15:41
  the next two to four quarters, the impact of that tightening
• 15:47
  will be more evident and will create slowdowns in some areas.
• 15:53
  We've talked about this, right? the Fed raising rates at the
• 15:56
  fastest rate that they ever raised it, OK, they're not the
• 15:59
  highest they've ever been, but it was the fastest, most extreme
• 16:03
  period of interest rate hikes that there's a lag effect.
• 16:06
  It's kind of like if you go to the doctor and you've got a big,
• 16:09
  you know, sore on your arm, OK? Or something like that.
• 16:14
  Your armpit, I don't know, whatever.
• 16:15
  Imagine whatever you want and the doctor says, oh, that's
• 16:18
  nasty and gives you a prescription for antibiotics.
• 16:22
  There's a lag effect. You don't take the antibiotic
• 16:25
  and suddenly start getting better.
• 16:26
  It's the same thing with the interest rate hikes.
• 16:28
  There's a lag six months to 12 months to 18 months for the
• 16:32
  effect of the interest rate hikes to filter through the
• 16:35
  economy. And we are probably right now
• 16:38
  just in the heat of it, just in the middle of it right now and
• 16:42
  still have, I would say at least six months to a year of more
• 16:48
  negative impact from these rate hikes.
• 16:50
  And are we seeing that right? I admit I told you I was at, I
• 16:53
  was at a a party over the weekend.
• 16:55
  I'll talk to an executive from one of the world's biggest
• 16:59
  shipping companies and I said what's it like?
• 17:01
  He's like it is slow baby, right, whether you're talking
• 17:05
  rail, whether you're talking trucking, whether you're talking
• 17:09
  those big, whatever they however you refer to that intermodal,
• 17:12
  not intermodal, the big giant 40 foot shipping containers that
• 17:16
  they stack on ships and ship across the ocean.
• 17:19
  All of it is. I don't.
• 17:22
  Well, I'll say crashing. Absolutely crashing right now.
• 17:26
  OK. And it's not going to get any
• 17:29
  better. And yeah, and sure, they're
• 17:30
  going to say, oh, the GDP is wonderful.
• 17:32
  Well, yeah, but that doesn't factor in inflation and how now
• 17:37
  the actual volume of activity in the economy has dropped
• 17:42
  precipitously. Let's go over to our friend
• 17:45
  Brian Moynihan from Bank of America, Big Bank of America.
• 17:50
  What does he have to say about the US economy?
• 17:53
  Let me point this out. Well, now I'll come back to
• 17:55
  this. OK, it says.
• 17:58
  This is from CNBC. It's a message now echoing and
• 18:01
  every corner of Wall Street consumers have finally run out
• 18:07
  of steam. the US economy is based on the consumer.
• 18:13
  That's a known fact. That's a mathematical certainty.
• 18:16
  The US economy relies on a strong consumer, and they're
• 18:20
  saying the consumer has run out of steam.
• 18:23
  It's also an eventuality that Bank of America has predicted
• 18:27
  since March, when analysts warned that the Fed would push
• 18:30
  consumers, quote UN quote, to the point of pain in order to
• 18:35
  tame inflation. And now, according to Bank of
• 18:38
  America's Chief Executive Officer Brian Moynihan, that
• 18:43
  time has come. He was speaking to CNB, CS
• 18:47
  Squawk on the street. Moynihan said that the way
• 18:51
  consumers are acting is consistent with low growth, low
• 18:55
  inflation, economy, Guys everywhere we look.
• 18:59
  Those are the CEOs of the three biggest banks, Bank of America,
• 19:04
  JP Morgan Chase and Goldman Sachs.
• 19:06
  What are they all telling us? They're all telling us negative.
• 19:10
  Why is that a double, triple kicker negative because these
• 19:13
  guys are paid to be optimist. So what they're saying and
• 19:18
  what's actually going on is actually probably even worse.
• 19:23
  Now let's touch on something that also came out regarding
• 19:27
  Bank of America and bank big bank trouble possibilities right
• 19:32
  now. They also reported that they
• 19:34
  have 132 billion, not million billion in unrealized losses in
• 19:43
  the last quarter on their balance sheet because interest
• 19:46
  rates are going up. That means the value you gave
• 19:49
  your money to Bank of America. They took your money, paid you
• 19:52
  1%, and they bought a bunch of bonds.
• 19:56
  They gambled with your money betting that they could buy
• 19:59
  bonds that would pay them more in interest.
• 20:01
  Then they have to pay you on your deposits.
• 20:04
  Those bonds have crashed in value.
• 20:06
  OK, big, big, big, big deal. OK, And now Bank of America,
• 20:12
  they're not reporting it, but they're recognizing they have
• 20:16
  over $132 billion in unrealized losses.
• 20:21
  We could have a big, serious, excuse me, major banking crisis
• 20:27
  in this country if people showed up and asked.
• 20:32
  That means if people showed up and wanted all their money out
• 20:35
  of Bank of America, I'm not recommending you do this, I'm
• 20:38
  not reckon. But if everybody showed up and
• 20:39
  wanted their money out of Bank of America, they wouldn't have
• 20:43
  it. Because if they had to sell
• 20:46
  those bonds, there's a there's if just for that, that example
• 20:50
  alone, there's $132 billion loss.
• 20:53
  Of course the FDIC would cover everything. the Fed would just
• 20:56
  print magic. Unicorn Fart does money out of
• 20:58
  thin air and everybody would be whole, right?
• 21:01
  Yeah, they'd be whole with even further diluted dollars.
• 21:06
  This whole system, whether you're looking at the banks,
• 21:09
  whether you're looking at the country as a whole.
• 21:12
  With 3334, who knows? Maybe it's $35 trillion.
• 21:17
  Can we get 35? Yes, right.
• 21:19
  No matter how you look at it, make the only solution because
• 21:23
  of poor, short sighted decisions by executives, by leaders is the
• 21:29
  dilute, Dilute, Dilute. OK, so as we look at that
• 21:34
  through the through the through the lens of precious metals, you
• 21:38
  can't dilute silver, you cannot dilute gold, you cannot
• 21:42
  reproduce it, you can't print it, right.
• 21:46
  They've tried. They've tried.
• 21:47
  You know, sure there's electronic gold.
• 21:49
  The Comex right creates 250 make believe magic ounces of silver
• 21:54
  for each real ounce of silver that they have in their
• 21:57
  warehouses to back up all the paper electronic Unicorn fart
• 22:02
  dust. Thank you Craig for that super
• 22:04
  chat contracts guys. But at the end of the day, at
• 22:08
  the end of the day, the true value of the metals will be
• 22:13
  realized. I had a one of my subscribers,
• 22:16
  our subscribers, and thank you to all the subscribers and if
• 22:20
  you don't mind, it's my one time of the video.
• 22:23
  Please give this a thumbs up. It's a nice gesture on your
• 22:26
  behalf. Find the thing that looks like
• 22:27
  my ugly thumb and if you press it, that helps get this word out
• 22:31
  to more and more people. So thank you and thank you all
• 22:34
  for being here. This is all about us, OK.
• 22:39
  This is a group. We get a lot of the same regular
• 22:41
  people who show up every day and I appreciate you being here.
• 22:45
  If nobody showed up, I wouldn't be doing it.
• 22:47
  I think that we have a lot to share with each other.
• 22:50
  I know you have a lot to share. Leave a comment in the comment
• 22:53
  section. I believe you do have to be
• 22:55
  subscribed to the channel and they in order to leave comments.
• 22:58
  But you guys, there's so much learning and camaraderie and
• 23:02
  friendships to be quite honest with you, that have developed
• 23:05
  through this group of people, right.
• 23:07
  It's not ROM Tube, it's YouTube. So thank you, thank you, thank
• 23:11
  you for being here. One of our subscribers, easy for
• 23:14
  me to say. Eric sent a very interesting
• 23:18
  e-mail to Susie and I regarding Bank of America.
• 23:21
  And this is interesting. Apparently Bank of America has
• 23:24
  loaded the boat with TLT. What is TLT, you may ask?
• 23:29
  Some of you may have heard of it.
• 23:31
  TLT is an ETF that tracks basically the 20 year bond
• 23:35
  yield. It has crashed.
• 23:37
  I've heard some people say it's down as much as 50% in the last
• 23:41
  like year and a half, right. Safe bonds.
• 23:43
  TLT is a safe thing to put your money in until you lose 50% of
• 23:47
  your money in TLT, which is what a lot of people have done, but
• 23:52
  apparently because Bank of America is loading up.
• 23:56
  Thank you, Tony. Thank you, my friend.
• 23:59
  Party on Buddy. That's right.
• 24:02
  Bank of America loaded up on TLT.
• 24:04
  That's an indication that they think the Fed is going to cut
• 24:07
  rates sooner as opposed to later.
• 24:09
  Because if the Fed cuts rates, the value of TLT will go up
• 24:14
  precipitously. Can you use that word on the
• 24:17
  positive side? Heck, I don't know.
• 24:19
  It will go up significantly. So that's a very interesting
• 24:22
  thing. Again here in just a few minutes
• 24:25
  we're going to hear from our old friend Jerome Powell.
• 24:27
  He is going to move the markets right.
• 24:30
  I, I, I, I don't think it's going to be a middle of the road
• 24:34
  type speech. It's going to be one way or the
• 24:37
  other and it can have serious ramifications on the metals
• 24:41
  prices. So buckle up butter cups, right.
• 24:44
  It's going to be an interesting remainder of the day.
• 24:47
  But we know, I mean that's one thing that you can say as a
• 24:52
  precious metals investor if you've been in this for a couple
• 24:55
  years or a couple decades like I have, we can deal with whatever
• 25:00
  they throw at us. Yeah, I was up in Quebec with
• 25:04
  some big analysts from a lot of the big Canadian banks and we
• 25:09
  were talk, he was talking about his mining stock portfolio.
• 25:12
  He's like, yeah, it went up in value like three times and went
• 25:15
  all the way back down to where it is.
• 25:17
  And he was like, I don't even look at it anymore because it's
• 25:20
  depressing, which I understand because I'm kind of there with
• 25:23
  him, he said. But what I take solace in is
• 25:26
  just I know what I own is value. And I think, can you say that
• 25:30
  about whatever, however you invest in this sector, whether
• 25:33
  it be physical silver, physical gold, physical platinum, for
• 25:37
  that matter, maybe you buy gold bags.
• 25:39
  I don't know, whatever it is, or the mining stocks, I mean, the
• 25:43
  mining stocks have unbelievable value right now.
• 25:46
  OK. But you know what you hold.
• 25:47
  And you know what? That's a good time for me to say
• 25:49
  thank you. Talk about a mining stock first.
• 25:52
  Mining gold sponsors Ron's basement.
• 25:55
  It's a stock that I've owned for years and years.
• 25:58
  I'm not giving financial advice, but I feel like it represents an
• 26:02
  outstanding value right now. Millions and millions of Oz.
• 26:07
  In total, almost 13 million ounces of gold in the ground in
• 26:12
  Canada. They're a development phase
• 26:17
  company, so they're moving through this process of getting
• 26:20
  permits. Check them out.
• 26:22
  And if you want to talk to somebody at the company, reach
• 26:24
  out to Paul Morris. I'll put his e-mail address in
• 26:27
  the description of this video so we know what we have.
• 26:31
  Here's something nobody's talking about, Do you think,
• 26:34
  What impact do you think the presidential election next year
• 26:38
  will have on the economy, on the price of silver and gold?
• 26:42
  I'm not hearing anybody in the precious metals community really
• 26:45
  start to recognize this yet. But we're almost just a year
• 26:49
  away from the presidential election.
• 26:51
  I think there's two big things to consider, #1.
• 26:54
  Thank you, Ron Cowbell. Oh, yeah, Thank you. 200 Thumbs
• 27:05
  up. Thank you for the reminder and
• 27:09
  thank you for the Super chat, Ron.
• 27:11
  That is awesome. Nobody's talking about the big,
• 27:16
  big, big election next year. What impact could that have on
• 27:21
  the markets and the precious metals?
• 27:23
  2 big components to talk about #1.
• 27:26
  What's the word? Uncertainty.
• 27:29
  We have got major conflict in this country internally between
• 27:33
  the political parties, political divide, political vileness, if
• 27:38
  that's even a word, but vile behavior on both sides,
• 27:42
  extremism on both sides. And we are heading into in the
• 27:47
  next 12 months a presidential election cycle.
• 27:50
  I think that could create a lot of uncertainty.
• 27:53
  So the flight to safety, bid support for the metals could be
• 27:59
  impacted by that in a positive manner.
• 28:02
  Now the other thing to consider is that in an election year
• 28:07
  there will be massive pressure placed on the Fed to be easy
• 28:12
  with monetary policy to do things that will stimulate the
• 28:16
  economy. Not that they've not done enough
• 28:17
  already, right? We're already spending $1.4
• 28:20
  trillion per year than we bring in, but even additional measures
• 28:27
  will likely be taken and again that will do nothing but dilute
• 28:31
  the value of the currency, dilute the value of the dollar
• 28:35
  and it's already being diluted Okay where where, where the the
• 28:39
  machine has been started. We are in the dilution zone.
• 28:42
  What do you think that's going to do?
• 28:45
  For the price of the metals? We'll only serve to be even more
• 28:51
  supportive. I'm going to hop over to the
• 28:52
  comments and see how everybody's doing.
• 28:54
  Wow. Annie Oakley, Guys, please do me
• 28:57
  a favor. Type 6 to say thank you to all
• 29:00
  the moderators. They do a great job and make
• 29:04
  this possible. So if you could type 6, that
• 29:07
  would be super nice. Hey, my friend Pat Hollins here.
• 29:10
  Sassy Silver. Thank you.
• 29:12
  Thank you for the six. Pat Holland.
• 29:14
  I think it's about time we have Pat Holland back on.
• 29:17
  Maybe we can schedule something for next week, huh?
• 29:20
  Mr. Holland, The Lone Ranger. Ron McAdams.
• 29:24
  Not with all Alvin. Wow, Look at all those things.
• 29:27
  Coin shop, Chris. Thank you.
• 29:29
  Jim M thank you. Thank you.
• 29:31
  This is a community and is not possible without, you know, the
• 29:36
  help of our awesome, awesome moderators.
• 29:39
  All right, guys, Thank you for being here today.
• 29:42
  I will be back tomorrow. OK.
• 29:44
  We'll see. We'll see what we got going on.
• 29:47
  Looks like Pat Holland says he'll come on next week.
• 29:49
  OK. Take care of yourself.
• 29:52
  Number one, right. Be nice.
• 29:54
  I know you all are nice. And I'll look forward to seeing
• 29:57
  you tomorrow. Thank you.
• 29:58
  Thank you. Thank you.