Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 SILVER Stackers! 🚨 THIS Is NEXT!... (Gold Price Too!)... Presidential Election

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🚨 SILVER Stackers! 🚨 THIS Is NEXT!... (Gold Price Too!)... Presidential Election · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
Donald Trump elected president and gold and silver are
0:04
crashing. I'm trying to put a big smile on
0:06
my face, but if you're feeling anything like I am right now, we
0:10
are not happy with what is going on in the gold market and the
0:13
silver market. But has anything really changed?
0:17
Is the long term outlook for the gold price and the silver price
0:21
still intact? In this video, we're going to
0:24
talk about what's going on right now and what we can expect as we
0:29
move into the coming months and quarters.
0:31
Guys, here's a big key take away about what is going on right
0:35
now. I heard Phil Streibel from Blue
0:36
Line Futures say it this morning and I think it sums it up
0:40
beautifully. And that is that right now the
0:43
silver price and the gold price, I get it, it's painful, painful,
0:48
but it is trading on all emotions.
0:51
I think I saw Jake from Jake's custom parts in the comments
0:54
say, let's let the dust settle, right?
0:57
There's a lot going on right now.
0:58
The price of gold and silver really aren't trading off of any
1:02
fundamental factors. If you really think about it,
1:05
right, his suddenly the demand for silver gone away.
1:10
Are central banks going to stop buying gold?
1:13
Are they going to stop putting silver into solar panels?
1:16
Are they going to stop putting silver into these new electric
1:19
car batteries? We have to ask ourselves these
1:22
questions now. When we look at what's happening
1:25
this morning, it is absolutely shocking.
1:28
And I need to tell you first, I was wrong.
1:30
I apologize. I'd predicted that we could see
1:34
$38 silver by Friday. I really believe that.
1:38
I believe there was a, a decent little shot that that could be
1:41
the case. I'm as shocked as anyone is this
1:43
morning. So my $38 prediction, maybe I
1:47
need to revisit that. That should have been $28.00.
1:50
I still do believe that through the end of this year, we could
1:53
absolutely see $38 silver. But let's run out and just take
1:57
a look at some of these incredible, I mean absolutely
2:00
incredible moves that are going on in the market.
2:04
Really shocking. Let's look at the dollar index
2:06
first. The dollar index is up 2% to
2:11
10529. Now I want to show you something
2:14
that we need to realize. OK, Let's go back and look at it
2:18
over the course of just one month.
2:20
As you can see, the dollar index shot up.
2:23
But if we look at this, which we haven't done for a while, over a
2:27
long period of time, we are still at a very high level for
2:31
the DXY index. We don't pay that much attention
2:34
to it because it's really comparing the prettiest horses
2:37
and the glue factory. However you want to say just
2:39
compares the dollar against the other Fiat paper currencies that
2:44
are our allies countries, you know like the euro, the eurozone
2:49
and the Japanese yen in that. But still massive move up in the
2:53
dollar this morning. Let's go take a look at also the
2:58
10 year bond yield, which is no less impressive.
3:02
Crazy, right? 10 year bond yields now at 4.5%.
3:08
Look at a six month chart. Let's put like this is
3:10
unbelievable, OK, This is unbelievable because this is
3:15
when the Fed cut interest rates when we were at 3.6%.
3:19
The 10 year bond yield is up almost a full percentage point
3:24
since the Fed cut rates and since and in and in a very short
3:30
period of time like what 5 or 6 weeks, this has major
3:34
implications on the economy. That makes credit card interest
3:38
rates go higher. That makes mortgage interest
3:40
rates much higher. But what's really critical and
3:43
don't you worry, we're going to talk more about it later.
3:45
Let's smile a little bit. Yes, we'll go.
3:47
We're going to bite the bullet here and look at the gold and
3:50
silver price. Don't you worry.
3:52
But that higher interest rate also makes the the borrowing
3:56
cost for the US government, which is already out of control,
4:00
the interest expense even that much higher.
4:02
It can't go on. Nothing has really changed, OK,
4:07
except for the price of gold and silver.
4:09
Unfortunately this morning, which we're going to go look at
4:12
right now, this pin backs magic button would really have to be
4:16
magic. Last we checked, we were down
4:18
$1.73 on the silver price and we are OK $1.64.
4:24
Earlier today we were down almost $2.00 per oz.
4:27
So let's just see how the day plays out.
4:30
I'm not expecting a miracle, It would be a little miracle.
4:34
I'll come on and do another live stream with you guys.
4:37
I promise if silver even remotely closes the near even, I
4:43
don't think that's going to happen.
4:44
Let's go look at the silver chart though to see just how bad
4:48
this damage is. Now look again, hold on here,
4:52
the day is young and make sure I got you guys up here.
4:59
Hopefully we're still alive. I think we are.
5:01
OK, let's go down. I mean, look at the stock
5:03
market, S&P up 2%, Dow of 3%, the NASDAQ up 2%, the Russell up
5:10
2%. But what we want to look at is
5:13
the silver price and let's just see how ugly it is.
5:16
This is the December's future contract on silver down $1.83.
5:22
OK, but let's look at a longer term chart and just see how bad
5:29
this really is. Let's go to six months, OK?
5:33
Yep, it's bad. We're going to get out our
5:35
crayons and let me tell you why it's bad guys.
5:41
Because if we go to $32 per oz, which was this area that we had
5:47
fought and fought to get through back here was that June?
5:51
We did it again in July and then here late September, October, we
5:56
finally broke through. We're down below.
5:58
The day is young, right? If we can get silver up, you
6:02
know, back to let's say $32 per oz.
6:05
Otherwise we are probably going to have some technical damage
6:08
that has been done in the silver chart.
6:11
But but man, there is so much to talk about and I know you
6:14
probably were like me pretty much up all night.
6:19
You know, it's absolutely crazy, right?
6:21
Let's go see here this I thought this was great.
6:24
Let's see what's So let's go see what's it's almost Christmas.
6:27
Let's go see what silver Santa is saying because I think he
6:31
also summed it up very nicely in this tweet.
6:36
This is from our friend silver Santa on X Trump has been
6:40
elected the new president of the United States in yellow.
6:43
The DXY is up like 1 1/2% and the precious metals don't like
6:47
that much. Here's where it gets
6:49
interesting. The truth is that Trump will
6:51
need to print money. He wants to reduce inflation,
6:55
but it's not clear how he can do that is he will need to print
6:58
money. He wants to abolish the income
7:01
tax, but that will mean more debt and that and and the the
7:04
need to print more money, gold and silver.
7:07
Today there's a Fed meeting that starts.
7:09
We'll talk about that. I mean that that's usually the
7:12
biggest story ever. If they cut rates as expected,
7:15
then that will be bullish for the precious metals.
7:18
I believe we get that news tomorrow.
7:20
Tomorrow. This is one of the big keys,
7:23
okay? Tomorrow there's a China
7:25
meeting. If they confirm a big whatever
7:28
$1 trillion stimulus program, then that will be bullish for
7:32
the industrial metals, silver and copper.
7:35
That's one of the big factors right now, guys, that we need to
7:38
pay attention to. And I'll explain to you why,
7:40
especially when it comes to silver, but also gold, right?
7:44
China was waiting to see what would happen, OK, he says.
7:48
I think silver and gold will continue to go up.
7:50
OK, thank you, Silver Santa. I need to look at you here
7:53
because this is something critical that we can be
7:55
optimistic about regarding silver and gold.
7:58
China was waiting to see what happened in the election if
8:01
Trump was elected, which right now apparently that's the case.
8:06
China is is afraid that there's going to be major tariffs placed
8:10
on them. They then are going to put out a
8:12
massive, I mean, who knows what they could do.
8:15
China could be a shocker here in the next few days.
8:18
A massive stimulus program that drives the price of silver and
8:23
gold that can are silver and gold, but copper and silver in
8:27
particular because China is a major consumer of both silver
8:31
and copper. So China is kind of the secret
8:34
wild card right now as we wait to hear what they do in response
8:38
to the results that we got from the presidential election and
8:42
the fact that silver and gold are getting clobbered today.
8:47
OK, All right, guys, make sure I'm not missing anything here.
8:52
What about the secret message from Trump about gold and JD
8:56
Vance? If you notice that JD Vance
8:59
recently several times has been speaking positively about
9:03
Senator Ron Paul, ex Senator Ron Paul.
9:06
And remember, he was the guy who is a proponent, right, of ending
9:10
the Fed, proponent of real money, right?
9:13
He's kind of one of the founding fathers of the silver and gold,
9:16
modern silver and gold movement. The modern a wave of legislation
9:21
that's sweeping across the United States where state by
9:24
state we have legislation coming out to do, you know, legal
9:28
tender legislation to allow their citizens to use gold and
9:32
silver as real money. But we're hearing JD Vance talk
9:36
very positively about about the Ron Paul movement.
9:41
So that's interesting. We also have a Judy Shelton,
9:45
who's a big, big, big gold standard proponent and former
9:49
Fed appointee of Donald Trump here.
9:52
Let's look at what a tweet she put out.
9:54
You guys know who Judy Shelton is?
9:57
You should right? And she just put out a new book.
9:59
Here she is here. She was and been appointed to
10:02
the Fed by Donald Trump did not get approved because of some
10:07
political moves. But right here she tweets this
10:10
Trump promises to lead America to a quote, new golden age in
10:14
his closing message to donors. She has a new book out.
10:18
She's getting a lot of attention.
10:20
OK, are we getting right right now?
10:24
It's horrible. It's not funny.
10:27
Stop laughing, right? And I'm not laughing because
10:30
trust me, I don't even want to see, right, what's going to
10:34
happen to my precious metal mining stock portfolio.
10:36
You want to see a man cry? I wouldn't even check that live
10:40
on the air because it's going to be absolutely horrible.
10:43
But don't you get the feeling, like Jake said earlier, when the
10:46
dust settles, right, that that this could be a different
10:50
environment for both silver and gold?
10:53
Now, something that's working against silver and gold from a
10:56
Trump administration perspective is their support for crypto
11:00
currencies and their support for Bitcoin.
11:02
As you know, Bitcoin is like at all time highs right now.
11:07
So we'll see how this all plays out.
11:09
I forgot I owe you another apology.
11:11
Yesterday we talked about this, remember, guys, and we're
11:15
nothing has changed. The federal I got, hey, guess
11:19
what? The US government debt, it
11:22
didn't disappear overnight, right?
11:25
The one trillion in interest expense didn't disappear
11:28
overnight. Nothing changed.
11:30
Big picture for silver and gold. Let's let the dust settle.
11:35
But I do owe you an apology. Yesterday, I forgot one of the
11:38
critical points that we needed to talk about and share.
11:42
And let me pull it up here. It came from this article from
11:46
Zero Hedge, from Egon. Egon, Where is he?
11:50
I want to give him credit here. Egon Van Gerez, right, one of
11:55
the top analysts, but this, we went through all this yesterday,
11:59
but this, OK, Remember, this is the gold price from 1971 to
12:08
2024, right when Nixon took us off the gold standard.
12:12
And what I forgot to, to, to, to mention to you is yes, we're
12:18
spiraling right now in this country from a debt.
12:21
We are in a debt spiral. We are in a debt.
12:24
I heard somebody called a debt Whirlpool a few weeks back,
12:28
which I thought was an excellent there it is.
12:31
Sorry about that was an excellent description of where
12:33
we are. The debt is continuing to go up
12:36
the interest, OK, But here's what we need to realize this
12:40
period right here where we had gold go from 35 to 273526,
12:46
whatever it is today. But nonetheless, the point is
12:49
from 1971 through today that happened, OK, that unbelievable.
12:55
What is that 78 X return? Look at that, because now I'm
12:59
going to look you in the face, basement dwellers.
13:02
That's 78 times not, not 78 percent, 78 times, right, Gold
13:08
going from $35 to $2700. Think about that.
13:12
I'm going to bring you back one more time.
13:14
This return, this period of time, that was the best of times
13:20
when, when this happened, that happened in an environment like
13:24
no other. It was the most conducive,
13:27
nicest, most favorable. It was like a stretch of 51
13:31
years of sunny days for the United States, right?
13:35
So now we are where we are now with this massive amount of
13:39
debt, this massive interest expense, massive deficits, and
13:43
we're going into a period that is so much more uncertain, so
13:48
much more unagreeable for the United States.
13:53
Like so the 78 times the gold winner over, I mean, who knows,
13:57
it could go up 500 times in the next 50 years.
14:01
Now, look, most of us aren't looking at A50 year time
14:04
horizon. But I'm telling you these things
14:06
that the amount of debt, it's, it's creating issues faster and
14:10
faster. And I don't care who the
14:11
president is, you don't take away the national debt.
14:16
You just don't take away the national debt.
14:18
Here, let's go out and do our daily check.
14:21
What do you say, basement dwellers?
14:22
Let's go on our little field trip and just make sure, yeah,
14:27
it's still there. OK?
14:32
This is not a political show. But the fact that Donald Trump
14:35
got elected did not get rid of this 35 trillion, almost 36
14:41
trillion in national debt. It did not get rid of almost a
14:45
trillion in interest expense, and it didn't get rid of the
14:48
federal budget deficit. And some people think that it
14:51
could even be made worse. I'm probably going to say this
14:54
25 more times. So get used to it.
14:56
This is not a political show, but a lot of these ideas that
14:59
Trump has, you know, eliminating certain taxes, tax breaks, this,
15:04
that and the other they may sound great, but they're going
15:07
to cost money, okay. And when he was president, the
15:11
the national debt skyrocketed. When he was president, the
15:14
deficit skyrocketed. And and I'm and I'm not, I'm not
15:18
at all. Okay, this say it one last time.
15:21
I need, you need to remember this is not a political show,
15:24
but Donald Trump does have a history of running companies
15:28
running up a lot of debt. We'll we'll leave it at that.
15:31
OK, so from as a gold and silver investor, I think we are in
15:36
good, good shape. Let's go over here.
15:38
Let's just make sure. Hey, there's the dollar.
15:41
If you guys heard about this thing, the dollar to silver
15:43
ratio, yes, it measures the number of dollars being created
15:47
by the M2 in the M2 money supply for each one ounce of silver
15:53
that's produced per year. And right now it is at 969 and
15:59
money creation is inflation. Let's go out to our spreadsheet.
16:04
Oh, yeah, That didn't change. OK, hold on here.
16:08
We'll update this 969 as we can see very clearly, right, just
16:14
over what, the 21st? That's nine.
16:17
Over the last two weeks, basically we've gone from a
16:20
dollar to silver ratio of 730 all the way up to 970.
16:25
I mean, come on, guys, come on. Right.
16:28
I know. I know.
16:30
This situation is not getting any better.
16:34
OK? the Fed has no no choice but to
16:37
print. Can you see me?
16:38
Hopefully you guys can see me and hear me.
16:42
Wow. I forgot the most important
16:44
part. Thank you for being here, OK?
16:47
You got a smart brain on your shoulders.
16:49
I know that. OK.
16:51
Your time is valuable. It's an honor when you join me
16:55
in the other basement. Dwellers here in the basement.
16:57
We're going to be OK. All right, please subscribe to
17:01
the channel, give the video a thumbs up and super chat.
17:03
Super thanks. We're always super appreciated.
17:04
Speaking of which, we got a super chat.
17:07
Thank you, J Lizard. Let's put you up on the screen.
17:10
OK, now back to the back to the thing.
17:13
OK, OK, this is this is crazy. I got a chart that will make you
17:16
feel really, really, really, really, really good.
17:20
You know, maybe you're feeling some mixed emotions.
17:22
Are you feeling mixed emotions this morning?
17:24
Are you feeling good about one thing but bad about another?
17:27
I think you know what I'm talking about and I can relate.
17:32
But the Fed has no choice but to print OK.
17:35
We are spiraling from this debt trap perspective.
17:38
What about when the world bond buyers demand a higher interest
17:42
rate and it gets even worse? And isn't that what we talked
17:45
about already? The 10 year bond yield is
17:48
skyrocketing. It has been absolutely
17:51
skyrocketing over the last, what, 5 weeks that is that puts
17:55
the United States government in this position where their
17:59
interest expenses skyrocketing. The world is moving away from
18:03
from from wanting. Now let's go look here.
18:06
Let's go look. Wait till you see this chart.
18:12
That's not it. Here it is.
18:15
Hold on. This is from our friend Graddy.
18:17
This guy has some good information.
18:19
U.S. Federal government interest
18:21
payments are going ballistic. OK, What does that mean?
18:26
That means that's like you living your personal life.
18:29
If you've racked up too much debt, if you racked up a
18:33
$400,000 house loan and you've got 200,000 on credit cards and
18:38
100,000 in car loans, and your interest expense alone is now
18:43
eating up half of your salary, that's what that means.
18:47
OK, government interest payments are going ballistic.
18:51
That is not even, not even parabolical, that is vertical,
18:56
OK, From COVID lows, everything changed and technicals
18:59
anticipated it. I'm going to show you this chart
19:02
in a second, he says. As I see it, the real measure of
19:04
true inflation is the expansion of the currency supply.
19:08
That's that $970 to silver ratio we saw earlier.
19:13
The M2 money supply going up and government interest payments is
19:17
more or less a function of the expansion of the currency
19:22
supply. Wait till you see this chart.
19:26
OK, right here. U.S.
19:27
Federal government interest payments, 50 year chart.
19:30
Make sure I got you guys on there.
19:32
I haven't screwed that up yet today, but wrong one.
19:35
Here we go. OK here circle this for you.
19:41
This Is Us federal government interest payments.
19:45
As you can see, the orange line 50 years back from 1971, Orange
19:50
line, orange line, orange line, blah, blah, blah.
19:53
We got the April of 20 of the year 2020.
19:57
Look at this guys. Look at this, OK, this is
20:01
parabolic. This is.
20:03
Vertical, this is big, big trouble and we don't see it
20:08
rolling over, no. And with these interest rates
20:10
going up, this will just continue to go higher.
20:14
This will it will, it's going to create inflation like most of us
20:18
have never experienced. I'd get ready and they're
20:21
talking about these big tariffs, right, inflation, inflation.
20:25
We are in a new, this is good news for you as a silver and
20:29
gold investor. We are absolutely in a new
20:32
environment for the precious metals where the precious metals
20:37
in the next 10 years, the next 10 weeks, the next 10 months are
20:42
going to wake up. They're going to have that light
20:44
bulb moment, right where they realize, and that'll be your
20:47
neighbors having that right. The sheeple light bulb moment
20:52
that inflation is taking over. Inflation is in overempowering
20:58
the Fed, the US government, right, the power of numbers.
21:02
It's coming, it's coming, it's coming.
21:05
I could be wrong. Don't make any financial
21:07
decisions based on what I'm saying, but I believe that will
21:10
be the driving force for much, much, much higher silver and
21:16
gold prices as we go through, as we go through these next coming
21:19
years. I want to say thank you to
21:22
channel sponsor First Mining Gold.
21:26
OK, this is their news release from yesterday.
21:28
This is their website. You can learn more about them.
21:31
They're a Canadian gold development company with two
21:34
multi million ounce projects in Canada.
21:37
And tonight we will get earnings from channel sponsor Fortuna
21:40
Mining after the close of the market.
21:42
We'll hear their numbers for the third quarter of 2024 should
21:47
prove to be very interesting. And of course our friends at
21:50
Pinbeck's. I don't think I, I talked about
21:52
PMBEX, but if you're looking right, hey here, let's go look,
21:57
let's do an update and then I'll give you a good, I'll give you a
22:00
good hot tip on buying silver and gold.
22:03
Oh, come on man, Please don't be down to dollars $1.69 silver's
22:08
down. Thank you to PMBEX for
22:10
sponsoring Ron's basement. Hey, if you buy silver today,
22:15
you're getting a sale price compared to yesterday, right?
22:18
I'm not telling you what to do. I'm just saying I've always told
22:22
you I buy silver on days when the price is red.
22:27
And I think we can definitely say that right now the price is
22:30
red. You can rest assured.
22:31
One thing for sure, if you buy silver today, you're getting a
22:34
darn better price than you would have gotten yesterday.
22:37
I'm going to be curious to hear from Mike or Brian at PMBEX how
22:43
the market, how the retail market reacted today.
22:45
And I got some news for you out of Canada about the retail
22:48
silver market. I'm going to read that to you
22:50
here in just one second. But if you're out there looking,
22:54
if you are going to buy some silver, gold, platinum group
22:56
metals today when it's on sale, please consider right, check out
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I think you'll find what I found.
23:04
Pinbeck's always has ultra competitive pricing, great
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And that's really paramount when you're buying precious metals.
23:15
Let's, let's thank you Pinbeck's for sponsoring Ron's Basement.
23:19
Let's go. Hold on.
23:22
We got a lot more to guess. There's so much going on.
23:25
OK, All right, let's talk about silver price.
23:27
Is the is the silver price manipulated?
23:30
Is the silver price? Is this all been a big set up to
23:33
really smash the silver price today?
23:37
I've got some proof. I got some proof.
23:40
We're going to look at that in one second.
23:42
Let's all have a quick sip of coffee first.
23:56
OK, microphone back on. Can somebody, hopefully you guys
23:59
can hear me? If somebody could give me a 5 by
24:02
5, I sure would appreciate it. Thank you.
24:05
Thank you. Thank you.
24:06
And let's go. I slept 3 hours.
24:11
Yeah, I slept about 3 hours last night myself as well.
24:14
Very. Am I the only one?
24:15
This has created a lot of anxiety.
24:17
I'm a pretty anxious person anyway.
24:19
I'll fully admit that I'm high strung.
24:22
I just always have been and I know I shouldn't be.
24:25
You know, it's like people say, oh, you should lose weight.
24:26
Oh, you should quit, do this, do that.
24:28
Everybody's got something. I'm a very anxious person and it
24:31
sure feels like this has been very, a very anxious couple
24:36
days. But let's talk about, and I do
24:40
not have you guys up. Let's talk about silver price
24:43
manipulation here. Do you think maybe this was all
24:47
a big set up so they could just smash the price of silver down
24:51
on us? Remember, we were approaching
24:53
$35. We were talking about 3638 not
24:57
too long ago, but last week, week before, right?
25:00
Has there been a coordinated effort to push down the price of
25:04
silver? And we know that they would
25:05
never do that. They would never manipulate,
25:07
right? The the JP Morgan has never been
25:10
accused or convicted. You're right.
25:13
Yeah, they have. OK, convicted, accused and
25:17
convicted of manipulating the metals prices.
25:19
So let's go see what our friend Jesse Colombo put onto Twitter.
25:25
And this was a day ago, so who knows what today's going to look
25:30
like. But he says here, silver was
25:31
slammed again this morning. This is not this morning, but
25:37
this was yesterday. Silver was slammed again this
25:39
morning by the banking cartel making that 9 morning slams in
25:43
the past 11-9 out of the last 11 trading sessions.
25:47
And what kind of proof do we say if all right, if you if you
25:50
think that's organic and normal trading, you are seriously
25:54
delusional or a paid shell. All right, let's look at this
25:58
chart that he put up here. Says morning silver slams equals
26:02
market manipulation. If it's not market manipulation,
26:06
then why are the sharp moves almost always to the downside
26:11
and occur from 8:30 to 11:00 AM Eastern Time?
26:15
And that's when the COMEX opens. And look at this one.
26:18
See that Red 2? See that red 345?
26:22
That was a little 16. That was medium 7.
26:27
Woof 8. Woof 9 and I can't wait till we
26:32
see today guys that is proof that when the COMEX opens and
26:36
this is look at that brought the price down from $35.00.
26:41
Let me get the marker out here. This up here we were at $35 and
26:47
that was on the 22nd, which would have been about just two
26:53
weeks ago like we talked about earlier, OK, look at that and
26:57
look at how the price has gone down, down, down, down, right?
27:02
We're probably somewhere over here right now.
27:05
These are all little beat downs that occurred when the COMEX
27:08
open, right? Let's look at the look at the
27:11
volume here as well, OK, down here, these bars, they they
27:16
represent, oops, they represent the amount of trading that's
27:20
going on. I mean, look at these spikes,
27:24
look at this. Wow, right.
27:26
That's like the number of contracts that are being traded.
27:29
So what do you think? Do you think part of this has to
27:33
do with some type of manipulation of the silver
27:35
price? We know JP Morgan got busted.
27:39
We know there have been men who have who who spent decades,
27:43
right, uncovering and showing that the price has been
27:46
manipulated. You know, look, it's
27:48
speculation. I'm not a guru.
27:50
I'm not saying. But there are very smart people,
27:53
people like Jesse Colombo that are saying, hey, look over here,
27:57
look at what's going on, right? This is what's really, really
28:00
going on, right? Oh, let's talk about what about
28:02
a silver shortage? Now look, I'm not trying again
28:09
speculation. I mentioned this that when I was
28:12
last week of the week before, I was talking with Mike from
28:14
Pembex, one of the owners and he didn't say there was a silver
28:17
shortage. I'm not saying that.
28:19
But again, he said there is a tightness in the market.
28:22
But what about north of the border?
28:24
I've got a great e-mail this morning right before I came on
28:28
from one of our fellow basement dwellers and I am going to
28:31
remember here we go to bring that up.
28:35
Here it is, OK says. Hey Ron, I love and appreciate.
28:38
Thank you. Thank you to all you guys for
28:40
being here, he said. Just a quick update from north
28:42
of the border. I've made many purchases over
28:45
the years from an online deer dealer, he says.
28:47
Sorry not Pembex, he's in Toronto and that's OK.
28:51
You're excused because PMBEX cannot ship to Canada.
28:55
So he's buying silver in Toronto and they and they normal take
28:59
only a couple days to process my orders.
29:01
I recently put it in put in an order and after a week I called
29:05
customer service to check on the status and was helped by a very
29:09
friendly customer service Rep. Always be friendly on the phone
29:13
guys, always be friendly. Trust me you'll feel better at
29:16
the drive through any any time. But I digress to check on the
29:21
status and was helped by OK, very friendly customer service
29:24
Rep that informed me that due to the overwhelming amount,
29:27
overwhelming amount of recent demand, they had to hire
29:32
additional staff in the warehouse.
29:35
It's been 11 days and my order was shipped this morning.
29:38
So usually it takes two days, two or three days.
29:41
And our friend Andy here this time it took 11 days and the
29:45
company told him it's because of overwhelming demand.
29:48
Just thought it could be an interesting point to add to the
29:51
many reasons we love silver. Keep up the ground.
29:55
Thank you. Thank you, Andy.
29:57
So guys, let's go out here. We're not going to give up.
30:01
Come on silver, give us a little something, something that's not
30:05
what we wanted. It would be live stream miracle
30:11
if silver like started to shoot up.
30:13
You never know. That's the other thing.
30:15
Remember those of you who are just joining right now, the
30:18
silver and gold market are not trading on any type of rational
30:23
reasons, any type of fundamental factors.
30:26
The silver and the gold markets are trading on emotions right
30:32
now. And there were so many people,
30:34
right? I was wrong, wrong, wrong.
30:36
I really thought that if Trump won that we would have a decent
30:39
shot of the metals staying where they are or maybe even going
30:44
higher. There were a lot of people that
30:46
have prognosticated that it would go down and they have been
30:48
proven right. But this is all being done on,
30:53
on, on, on emotion at this point.
30:56
OK, inflation, let's talk about this big picture.
30:59
Let's go. OK, what election?
31:01
Forget about it. Let's forget about the election
31:03
for a minute. Let's talk about what's going on
31:05
with the bricks and de dollarization.
31:07
And big news came out that we didn't cover yet here on the
31:11
channel that we need to talk about right now.
31:14
The Bank for International Settlements.
31:16
That's the central Bank of the world.
31:18
Central banks, OK, They dumped the Enbridge.
31:21
Remember, Enbridge was this big digital payment system that the
31:24
BIS was helping to perform and develop.
31:27
They dumped the Enbridge system after the BRICS meeting.
31:32
OK, so now China, India, the United Arab Emirates are running
31:36
the show on this new system. And a very interesting couple
31:39
interesting points. BRICS, right?
31:41
Soon China, it's, it's being speculated, will be buying oil
31:46
from Saudi Arabia directly with yuan.
31:49
Right now they buy it with yuan and then Saudi Arabia converts
31:53
it to gold. Anyway, all right, we digress.
31:56
So let's go to this Kitco, see what Kikko's saying about this,
31:59
which is headlines close. We don't want you.
32:04
OK, headline. The Bank for International
32:08
Settlements withdraws from project and bridge after bricks
32:12
lauded its potential to aid and de dollarization.
32:16
Guys, the world is moving away from dollars.
32:18
What does this have to do with the price of silver and gold?
32:22
It has everything to do with the price of silver and gold because
32:24
think about it, the bricks, and we're going to go back to that
32:27
article, are moving away from the dollar, moving away from
32:31
using the dollar, Want to move away from the dollar.
32:35
What does that tell us? That tells us there will be less
32:38
demand for dollars because remember now the dollars
32:43
permeated the world. It's still used and I don't
32:45
know, 50% of the World Trade, the Petro dollar, all that.
32:49
When that starts to be materially eroded, that means
32:54
there's all these extra dollars floating around.
32:57
That's where they come. They come back to the United
32:59
States, right? Saudi Arabia, China, Russia, the
33:03
BRICS countries are like, sorry guys, we don't want your dollars
33:06
anymore. You can have them back.
33:08
Oh, we don't want your treasuries.
33:09
And that's really where it'll be manifested.
33:12
You can have them back. That will make interest rates
33:15
skyrocket, but it will also make the value, the real value of the
33:20
US dollar go down. And what is it?
33:22
What's another what? It's six or one and a half dozen
33:25
the other. When the value of the dollar
33:26
goes down, OK, inflation goes up.
33:30
And remember inflation I'm getting, I'm getting pumped up.
33:35
Inflation is what will drive the price of the precious metals as
33:39
we head into the coming 10 weeks, 10 months and 10 years or
33:47
eight months, 8, 8 weeks, 8 months, eight years, however you
33:51
want to look at it, right? That's what's going on.
33:53
And they're sending their they're sending.
33:55
This is a big deal, right? Because they were at the Bricks
33:57
meeting. Remember, they don't report this
33:59
on CNN, the children's news network, right?
34:02
No, no, they had their big meeting in Russia and all they
34:06
talked about still is moving away from the US dollar, All
34:11
right? That's what's happening.
34:13
What about gold in China, right? I mean, come on, I know it's so
34:19
frustrating, gold, if gold goes down 100 bucks, right?
34:22
But is anything changed in China?
34:25
I mean, China is driving the gold price and it's not so much
34:28
the central banks. The central banks are still
34:30
buying. It's the Chinese consumer.
34:33
Oh, wait a minute. Let's go back here real quickly.
34:36
I apologize, I'm getting a little pumped up.
34:38
Project in Bridge was a key talking point at the recent
34:41
brick Summit in Russia, with the block touting its ability to
34:44
enable the transfer of whole trade wholesale central bank
34:47
digital currencies among member nations, aiding their de
34:52
dollarization efforts. So as soon as this all came out,
34:56
then that's when the Bank for International Settlement said
34:59
no, no, no, no, no, no, no, we aren't involved in this anymore.
35:02
OK, They're dumping the dollar guys.
35:04
It's going to that big massive inflation talks about the
35:08
countries in yellow that are involved.
35:10
It says right here in purple. This is interesting.
35:12
But with the tools potential to aid Russia in skirting the
35:15
sanctions placed on the country for its invasion of Ukraine, the
35:19
Bank for International Settlements has now announced
35:22
that it has quote UN quote, graduated out.
35:28
What the hell does that mean? Oh, sorry, what the heck does
35:30
that mean of the project it is spearheaded since 2021.
35:36
They graduated out, right? Yep.
35:38
They don't want they don't want to be involved in anything that
35:41
involves D dollarization. Well, guess what, buttercup?
35:44
The world is the dollar rising, OK?
35:48
That's what's going on. They're sending it down the
35:52
line, right? They're doing like an Amazon
35:54
return, shipping the dollars back to the United States.
35:58
It's real. It's happening.
36:01
OK, we are in for, I mean, with China.
36:04
Let's think about China, 1.4 billion people, OK?
36:08
One, don't worry, we'll talk about India, the precious metals
36:10
capable. And why can China continue to
36:13
drive the price of the precious metals?
36:16
Let's just look at this one article that I believe came from
36:20
a Chinese newspaper, OK? And what they're telling us is
36:28
Chinese rush for gold sparked by uncertainties in the US and at
36:33
home. Chinese buyers with nowhere else
36:35
to look, snap up gold bars and search for reliable value
36:41
preserving assets. There's 1.4 billion people in
36:45
China. 4 * 5 whatever times the amount of people in America.
36:49
They are gold crazy right now. They're probably loving this.
36:54
They're going to wake up tomorrow and be like, I'm going
36:56
to go buy more gold, right, because it's on sale thanks to
36:59
thanks to the the COMEX and the LBMA.
37:03
All right, here we go. Let me just read the first
37:07
couple. Even though the gold prices are
37:09
at record highs, Chinese consumers and retail investors
37:11
are still buying the metal, spurred on by the uncertainty
37:15
surrounding the economic outlook in China and next week's U.S.
37:19
presidential presidential here. This is a nice little story
37:22
about Wendy. A couple of weeks ago, Wendy
37:25
Hee, the director of administration for a company,
37:28
bought gold bullion $28,000 through an online $28,000 worth.
37:33
That's 10 ounces of gold through an online banking, which gives
37:37
her the option to convert it to cash at any time, she said.
37:40
If Donald Trump wins, uncertainty over China's exports
37:45
and the yuan exchange rate will be set to soar, she said.
37:49
Inflation in the United States is also full of uncertainty,
37:52
although interest rate cuts have started.
37:54
OK, these the people in China, here's the bottom line.
37:57
They got nowhere else to go but gold, gold, gold.
38:01
And will the American, will you and me, our neighbors, the
38:05
Costco dads, soon find ourselves in the exact same situation.
38:10
Because if you're in China, like they don't, they don't want to
38:12
put their money in the stock market, that's been cruddy.
38:15
They don't want to put their money in the real estate market,
38:18
that's been cruddy. What do you think's happening
38:21
here, right? Have you seen the 10 interest
38:23
rate on the 10 year bond? Have you seen the mortgage
38:25
interest rates going up and up and up?
38:28
The same things happening here, OK, right.
38:31
And people in China don't really trust the banks, All right?
38:36
Can you see that unfolding right here in the United States?
38:41
You know, I mean, we want to be full of optimism, but we got
38:44
this thing called reality that we have to deal with and it's
38:47
not real pretty. Look, it's no different
38:50
Buttercup. Then you again, I'm going to use
38:53
the example if you, if you were sitting here telling me Ronnie,
38:57
Ronnie, I made, I made some bad decisions.
39:01
You know, I've got a $400,000 house loan, $100,000 in car
39:05
loans, 200,000 in credit cards, layaway stuff, whatever, all
39:10
that, and I can't afford. That's the position we're in
39:13
right now in this country, in the United States.
39:15
It doesn't matter who the president is because remember,
39:19
the national debt didn't magically get erased overnight.
39:22
It didn't. All right?
39:23
We are in for some very, very crazy times.
39:26
And what about this? As we talk about silver and
39:29
gold, India is the precious metals capital of the world.
39:34
My gosh, there's 1.4 billion people in China.
39:38
We're done talking about China, but there's 1.4 billion people
39:42
in India. A lot of them moved to my
39:45
neighborhood and I love them. They're nice people, you know,
39:47
But nonetheless, I digress. 1.4 Do you think China loves
39:51
precious metals, Indian people? They're not.
39:54
So I know them all. They're nice people.
39:56
They're wonderful people. They love gold and they're
40:00
starting to love silver, but on top of that.
40:04
It's crazy to realize that the Indian government, right, who
40:09
was very closely tied to the British government over the
40:12
years, as many of you know, is Tom, the British government.
40:15
We want our gold back. We don't want you to hold our
40:18
gold. We want our gold back, guys,
40:21
because the world is changing. Remember the IT the I and bricks
40:26
is India. Let's go to this article.
40:28
This one came to us from the Jerusalem Post and it says
40:35
Indias bold precious metals strategy unfolds.
40:39
A 102 ton gold transfer, soaring silver demand and 27,000 tons in
40:47
private hands. How India is silently becoming a
40:50
precious metals powerhouse. We talked about this months ago.
40:54
I called India the precious metals capital of the world,
40:57
right? If you want to talk about a
40:58
company country that's going to drive the price of silver Dr.
41:02
the price of gold as we head into these coming years, it will
41:06
be India absolutely look at this.
41:10
Wait till you get a get a load of this.
41:12
OK? In a strategic operation that
41:14
required extraordinary logistics, this is like James
41:17
Bond. Imagine the logistics again.
41:20
We're talking about 102 tons of gold, a bit like transporting 20
41:25
adult elephants over 1000 kilometers.
41:29
India has successfully repatriated 102 metric tons of
41:33
gold from London to domestic faults.
41:36
This latest transfer, announced during the auspicious festival
41:39
of Danteras, marks the second major repatriation this year,
41:44
following a similar 100 ton operation in May.
41:48
OK, this is the second time they they they transported the
41:52
equivalent of 20 adult elephants worth of gold.
41:55
This is a big deal. OK, hold on here.
42:00
Did I miss that? Hopefully you guys are still.
42:03
Hopefully, hopefully. And I did OK.
42:07
Did I miss it? Hold on here.
42:09
There's something. There's another key component I
42:11
wanted to go over. Where is it?
42:16
Maybe it got messed up somehow here.
42:19
Well, anyway, and they love their silver.
42:24
That's the historical context they had.
42:27
They had to give the gold to London during a financial
42:30
crisis. I think during the.
42:33
OK, here we go, silver. This is what I want.
42:35
Let me back up. They had to send the gold to II
42:38
had to send the gold to England. I think it was during the 1990s
42:42
because of the financial crisis which unfolded in India.
42:47
So what is a London right? What is the what is the big
42:49
Western banking country do when, when when India needs help
42:54
during that period, they need a loan, right.
42:57
London, the British say, well, sure, we'll give you a loan, but
43:00
you need to send us your gold. Yeah, right.
43:03
Great guys, right. Like gold's not worth anything.
43:06
Oh, there we go. Lit back up for us.
43:08
Dual metal dominance. Here's this about silver.
43:10
While India's gold moves capture headlines, its influence in the
43:14
silver market is equally impressive.
43:18
And Neil Argawa, AV dot highlights this momentum.
43:21
He says, quote, silver is shining in India.
43:26
Prices have crossed the what? I can't read that, but they're
43:30
they're like all time highs per kilogram in India.
43:33
Demand has doubled from last year.
43:36
Silver's demand is being driven not just by its traditional
43:40
uses, but by massive industrial demand.
43:44
So there we got it guys. That's the big picture unfolding
43:47
right now before our very eyes within the precious metals
43:51
sector. Let's go out to pin backs and do
43:53
an update on the silver and gold price.
43:55
Take double your high blood pressure medicine this morning.
43:58
Let's hope silver's not down to dollars.
44:01
All right. Hey, it's getting better.
44:05
I never thought I'd be happy about silver being down only
44:08
$1.50 one cents. But let's let the dust settle
44:12
on. I need to say thank you to Jake
44:13
from Jake's Custom Parts, right for being here moderating, of
44:18
course, the one and only Annie Oakley and Big 10, the
44:20
Silvershire. I don't know if Susie's on here
44:22
or not. I know it's been a nutty, nutty
44:24
day guys. Hey, don't forget if you decide
44:28
that you are having a hard time getting a Christmas gift or if
44:32
you just want something cool for yourself, a dirty man safe is a
44:37
great a great idea. I think for a Christmas gift for
44:40
that hard to hard to buy for a person.
44:42
You look at this, there it is to show you.
44:45
That's what you do. You dig a little hole, you put
44:47
that big sleeve in there that comes with it, OK, There's the
44:51
sleeve going into the hole. Then you lower the safe down
44:54
into it right in. This thing is like waterproof,
44:57
50 years. It's got a patent pending on it.
45:00
I was really impressed when it showed up.
45:01
I got to be honest, Put it down in there.
45:04
Then you put that little white cap so the hole, the safe fits
45:07
inside the sleeve and you got that white cap.
45:09
Then you bury it and when you want to get it out, you just dig
45:12
it up, pull it up out of the ground.
45:14
Very interesting, very, very interesting. 10 year warranty,
45:17
50 year lifespan. There you go.
45:19
And if you buy one, if you want to get 10% off, use the code Ron
45:22
10 guys, it's going to be an interesting what is today
45:26
Wednesday? I know probably a lot of you,
45:30
maybe we're happy, but I'm not political.
45:33
I'm not going to get into it. It's it's kind of a weird day,
45:36
right? Gold and silver really been
45:39
taking it on the chin. So no, you're not alone.
45:42
Know that this volatility, remember, volatility is the name
45:47
of the game, especially with the silver price.
45:49
And gold was kind of ready for a bit of a pullback anyway.
45:53
You know, hopefully what happens here or is that the weak hands
45:57
get out of the metals, but some more strong handed people
46:00
strong, you know, people that have long good long term people
46:03
like me. And I don't know, are you this
46:06
way like when I buy silver, I don't buy it thinking I'm ever
46:10
going to sell it, right? Hopefully more people come in
46:13
that are long term oriented. I'm going to be super.
46:15
If Mike from PMBEX is listening, I'd be really interested to hear
46:19
from you, like what the retail investor reaction was today.
46:26
Are people buying or people selling?
46:28
You know, I got a feeling that that we got a lot of people who
46:31
are buying silver this morning, a lot of people.
46:35
So I'll try to get an update for you on that one.
46:38
Let's let the dust settle. I thank our friend Jake from
46:40
Jake's Custom Parts, right? I mean, this is an emotional day
46:44
on many levels. A lot of you are probably
46:46
feeling like I am kind of worn down, right?
46:49
It's just just been a strange period of time.
46:53
I guess we can be happy. And I'm, I am somewhat surprised
46:56
that there's not a bunch of contention or, or arguing going
47:00
on about the results of the election as far as I can see so
47:03
far. But still, it's been a really,
47:06
if you're feeling worn out and you're feeling kind of burnt out
47:10
a little bit, you're not alone, right?
47:12
Americans, there's a lot, we got a lot to deal with.
47:14
Think about everything, how difficult it is.
47:17
I mean, I'm at a family function here.
47:20
We have to go to, I have to go to the grocery store.
47:22
I've been going to the Walmart grocery store and it's just
47:27
crazy how expensive it is to eat.
47:30
Just to eat. I'm telling you, I don't care
47:33
what they say. The price of food has gone up
47:36
like at least 20% again from last year.
47:40
I don't care what they say. Some things are about the same.
47:43
I bought some steaks, which I rarely do, but a lot of the like
47:46
milk and eggs and chips and just stuff.
47:50
It's crazy. My dad, I was talking to my dad
47:52
this morning. I got to show you here.
47:56
I'll show you real quick and I'll try to pull it up.
47:58
My dad is the coolest guy. He's like the original bad.
48:01
You know what, right. He really was.
48:03
Let me show you this picture. Me and my dad from yesterday.
48:06
But I was talking to him this morning and I got to tell you
48:08
what he said because he says some funny stuff.
48:10
Here we are. See if you guys can see that.
48:13
Can you see that? You can't really see that too.
48:16
Well, I'll try to. That's him.
48:17
He's 84 years old, right? He had a tattoo before.
48:21
Tattoos were cool. Is that working?
48:23
That's not working. Dang it, that bugs me.
48:27
Why is that not showing up good. Anyway, we were talking this
48:32
morning and he was like, he loves Fritos and he cusses a lot
48:38
and I don't cuss on this channel, but you can imagine
48:40
what he said. And he was like, we were talking
48:42
about the election results and you know how no matter what,
48:45
like prices are skyrocketing, he's like, I can't believe I go
48:48
to the I buy a bag of Fritos. I can't, I can't do a good
48:53
impression because he uses very colorful language because it's
48:56
like, it cost me 6 bucks for a bag of Fritos.
48:58
I'm like, I know, I mean, it's crazy, right?
49:02
Inflation is going to drive the gold and silver price higher.
49:05
Let me finish with this because this is critical, absolutely
49:10
fundamental. The foundation, OK, over
49:14
thousands of years for gold and silver, the foundation that has
49:19
proven this stuff right to be valuable for thousands of years.
49:24
I know this is this feels $1.50 less valuable.
49:28
No, it doesn't. It still feels like an ounce of
49:30
silver. The foundation for what is has
49:34
allowed this or gold right to maintain its value has been
49:39
inflation has been the basement of paper currencies and that is
49:44
not changing and unfortunately that is very unlike look at how
49:48
pretty that is. I came from Jake from Jake's
49:50
custom parts. That is not going to change,
49:53
right? Because of I don't worry.
49:56
I won't bring you out to the debt clock again because the
49:58
darn situation in this country, I'm so excited I'm spitting is
50:04
not changing. OK, I got a feeling.
50:08
I hope I get to spend time with my dad five years from now,
50:12
right? That he'll be saying, I can't
50:14
believe I go to the grocery store and a bag of Fritos cost
50:17
me $10 or 12 or 15. I mean, it's ridiculous.
50:22
Anyway, you guys have a good day.
50:24
Hang in there. Everything's going to be OK.
50:27
All right? Remember, let the dust settle,
50:29
right? I'm going to sing for you.
50:31
Dust in the wind. Dust in the wind.
50:35
I won't say it's just settling right now.
50:38
Let everything get absorbed and let's see how this plays out
50:43
right as we go into the end of the year.
50:45
I'll still stand by what looks like we'll be wrong by $44.00
50:50
silver price prediction by Christmas Eve.
50:54
OK, I'll dress up like Santa Claus.
50:56
If I'm wrong, I'll put my Santa hat on.
50:57
But I really believe we still got a shot at it.
51:00
This this thing, this can change quickly.
51:03
All right, let's go take a quick look.
51:05
I can't resist. Come on, come on, silver price,
51:10
give us a little something to smile about here.
51:13
All righty dollar 36 guys, huh? It was down 2 bucks an ounce
51:20
earlier. I was not.
51:22
I'm not happy, right? So hang in there.
51:24
Thanks for being here. Thanks for being part of the
51:26
basement. Please help support channel
51:28
sponsor pin backs. You can check out dirty Man
51:31
safe. You can also check out first
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mining gold. Don't forget Fortuna Mining has
51:36
their earnings tonight. Have a great day.
51:38
I'll talk to you guys soon. Thank you.
51:40
Thanks. Thanks for being a friend.
51:41
See you later. Bye.
51:42
Bye.