Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 CHINA and INDIA 🚨 Seize CONTROL Of SILVER PRICE and GOLD PRICE -- (Recorded 5/16/2024)

Transcript

🚨 CHINA and INDIA 🚨 Seize CONTROL Of SILVER PRICE and GOLD PRICE -- (Recorded 5/16/2024) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
We got a special guest the the guy that I think could give us
0:04
more insights than anybody. I'm so excited on the on.
0:09
Well, the potential for a silver squeeze.
0:12
OK, you're never going to guess who it is.
0:15
He's a fan favorite. Even my mom, my mom watches the
0:18
live stream. She's like that.
0:19
That's my like your favorite guest that you have.
0:21
No offense to any of our other guest.
0:23
She loves them as well. But let's get him on here.
0:25
Hold on. Hello, John.
0:28
Hey, what's up? I'm in.
0:30
I'm not in the basement. I'm close though.
0:32
Ron, I'm going to talk to you about $20,000 gold in China, but
0:38
whatever you want to talk about. I'm really a big fan of your
0:43
basement dwellers. Thank you, John.
0:52
And as I introduced you, really, you're a guy who, in my opinion,
0:56
has his hand on the pulse of what's going on in the silver
1:00
and gold market around the world as much as anybody.
1:04
And when it comes to talking about the potential for a silver
1:09
squeeze, I mean, you know, you're involved with Wall Street
1:12
silver on Reddit, right? You're involved with the Silver
1:14
D Gen. club. John is also a an accomplished
1:20
writer and author. He's got a great sub stack.
1:23
I always have a link to the Silver Academy sub stack and
1:26
every one of my videos and live streams.
1:29
I use you. I use information I get from you
1:32
probably at least four times a week.
1:34
And I know you've given me permission to do that during my
1:37
live streams because you put out the good info.
1:39
I'm going to shut up. I would like to hear from you
1:42
about whatever you want to talk about 'cause you've got insights
1:45
like nobody else about this $20,000 gold and get A and then
1:49
I want to get a feel from you about about am I crazy feeling
1:54
like the silver squeeze movement is getting a little bit of
1:58
Second Life? Yeah, that's great way to look
2:00
at it. Thanks for having me on.
2:03
And I would say there is a revival.
2:06
I think it was fueled recently. In fact, today Mr. Putin visited
2:12
with Jinping and they traded bilateral documents, meaning
2:18
it's the playbook that Serge Iglesia of the Russian economist
2:22
authored of 1 gram of gold for a barrel of oil as a way to trade
2:28
outside the swift sanctions, the self-inflicted wound of the, you
2:33
know, the regime and the really piss poor foreign policy.
2:37
So when you mention, I just heard you talking about King
2:41
Kong on Twitter and these shops in China selling out of gold
2:46
beans. You can think of it this way
2:48
when Gen. Z who's basically locked out of
2:52
the economy in the United States, right?
2:54
There's there's no affordable homes, they're not buying
2:57
equities. But in China, the leadership is
3:00
telling their people even through TikTok to stack these 1G
3:04
at a time. You can almost look at that as a
3:08
barrel of oil you which you couldn't strap on your back,
3:11
right? So it's just a smart strategy
3:14
for these kids to start accumulating wealth.
3:17
And what we're seeing like for instance, in India of all
3:20
places, just for Q1 of 2024, they bought more silver than
3:27
they did all of 2023. So once this thing gets legs and
3:31
we always said, I think it was Peter Schiff who said, or it
3:34
could have been Doug Casey, that once we see this momentum shift,
3:40
it would be like trying to take the contents of Hoover Dam,
3:43
which is Lake Mead, I believe through a garden hose.
3:48
In terms of that sort of what we're, what we would say is
3:52
unavailable. And the silver squeeze now in
3:55
US, it's sort of nothing. It's, I mean, we don't like to
3:58
say that because of I, I have to answer to 270,000 retail apes,
4:04
but I think we needed their leadership first as the spark
4:09
because we were just chopping sideways for, you know, 3, three
4:14
to four years. And today I just read in
4:16
Shanghai, the market just closed a couple hours ago.
4:20
It closed out at 3263 silver. And that's a physical market,
4:25
that's a more. It's it's much more legitimate.
4:28
And what they were learning is they can buy more oil through
4:32
their gold proxy than they could before in London or in New York
4:37
with the US dollar. So since everything we do in
4:40
life is run by oil, why wouldn't you do that?
4:44
Why would you use? They're also looking at the
4:47
toxic orbit of the US dollar. It's being tethered to $34
4:51
trillion debt. It's enmeshed in I don't know
4:54
how many wars right now, service on the debt is what the largest
4:59
line item in the US budget and the way they're dumping U.S.
5:03
Treasuries throughout Bricks Plus Plus, which is 70% of the
5:07
world. These where these treasuries
5:10
gonna come wash him back, Ron. But can you guess where they're
5:15
coming, Ron? They're gonna come back here and
5:17
that will create more inflation, right?
5:19
And that'll mean the Fed will have to buy them and monetize
5:22
the debt sooner. And I gotta go 'cause I need to
5:25
run buy some silver or gold after I listen to you for.
5:28
The let's add to the story. There's no new discoveries of
5:32
silver at all. It get then it gets worse the
5:36
number one country in the world has always been Mexico by far.
5:41
So their new secretary environment Miss Maria Luisa
5:45
Alborz Gonzalez, she's not allowing any more mining She's
5:51
got a very I follow her on Twitter and all you see are
5:54
pictures of Los Anamales, the environment.
5:58
She's not, you know, so they're down 27% in just nineteen
6:02
months. Then moreover, you know, you're
6:06
looking at, let's take copper just yesterday.
6:11
It's it's been on a tear or two. It's up 25% since the beginning
6:15
of January. And guess what?
6:17
In Panama, the largest mine, one of the largest mines in the
6:20
world is shut down. It's called La Cobre and it's
6:23
run by quantum materials out of Canada.
6:26
So we're seeing more jurisdictional risk.
6:29
No discoveries, and with this demand from aerospace, military
6:36
and solar just reached a TB. So let's remember what that is.
6:41
That's 1000 gigawatts. Each GW is 500,000 ounces of
6:48
silver. So 1000 * 550 million oz.
6:54
Excuse me, you know, no 550,000. So now we're over 5, almost a
7:02
year's supply, 550 million oz, which is almost one year of
7:07
mining. And that's just solar, and
7:09
solar's not even is in 3rd place behind aerospace.
7:13
So, so, and, and, and I want to repeat this for our listener,
7:17
for our basement dwellers, many of them are silver stackers.
7:20
Hold on to that silver that you have, because what John just
7:22
said is that Mexico, the world's biggest producer in silver, that
7:27
over the last few years, the amount of silver being produced
7:30
in Mexico is down by what, 2728%, right?
7:35
That's a big deal. Now, I want to ask your opinion
7:38
on this, John, 'cause I think it's even maybe a little bit of
7:40
the icing on the cake. We've had a strong run in the
7:43
silver price, right? I mean, I think we're bumping up
7:45
against $30 here in the United States right now, but we've all
7:51
these factors that you've talked about, right?
7:53
And, and even, you know, the, the, the solar explosion and
7:57
demand and the supply going down.
8:00
But all this, this recent move in this strength in the silver
8:04
price over the last couple months has all occurred with
8:08
very little interest, very little interest.
8:11
Maybe it's percolating, maybe it's getting a little better,
8:13
but very little interest in the West, right?
8:16
It's almost like silver did it like silver went out and ran the
8:19
100 yard dash and and did very well, had an awesome time, but
8:25
silver was running into a 10 or 15 mile an hour headwind, which
8:29
is really that Western investors were dumping silver.
8:33
I I mean. Yeah, they were.
8:35
Well, what we're looking at is always been the problem with for
8:39
every one ounce of silver that Ron you you have, can you show
8:42
people I know. Yeah.
8:44
Oh, I've got a plenty of. I got AI got an ounce here.
8:46
Yeah. Here we go.
8:48
This is from our friend Big Tim the Silvershire.
8:52
Yeah, that's right. So for every one of those, there
8:55
are up to 600 transactions on on the paper market.
9:02
So. So 1 the best way to look at is
9:05
2 years, 2 days of trading. You know in futures it equals
9:10
one year of mining. So there if they were to, so
9:14
that's why Sergey Glossyev authored the Gold for Oil
9:20
program and silver just gets brought along is to create
9:24
arbitrage. So now at $33, you know if I can
9:27
buy jeans at a thrift store in Pittsburgh and sell them, you
9:34
know, for 6 bucks and sell them for $100 on Poshmark or in
9:38
Europe. That is what we call arbitrage
9:41
when you can sell something in a different environment at a
9:44
higher price. So China knew this.
9:48
They knew that Western markets were rigging the price of silver
9:52
through these derivative swabs where no physical ever changes
9:57
hands. So they're calling the bluff.
9:59
And now that's that sucking sound you hear is physical
10:04
metals moving from the West to the East.
10:08
And let's remember China, the two largest countries in the
10:11
world are India just passed China.
10:14
So like you said earlier in the broadcast, if they get their
10:17
people to even buy one ounce each, like the one you just held
10:20
up, that's all the silver there is.
10:22
There's, there's less silver above ground than there is gold.
10:26
And, and and you'll never hear that on Western media.
10:30
First Mining Gold is a development company advancing
10:33
two of the largest gold projects in Canada, Spring Pole in
10:37
Ontario and Duparque, located in Quebec.
10:41
Each already has 5 million ounces of gold reserves, but
10:45
exploration initiatives are underway at both projects to
10:49
find even more gold. First Mining is well financed,
10:53
has zero debt and owns an interest in four additional
10:57
Canadian gold development projects.
11:00
And we focus so much on China, and I'm guilty as well, but the
11:03
story in India is just as compelling.
11:06
I mean, I've heard that Indian households have 20, what is it
11:12
25,000 metric tons of gold alone?
11:15
Like more than three times what we haven't supposedly have in
11:20
Fort Knox. The the story in India is crazy.
11:24
And let's also remember that in India for the past 40 years, the
11:29
US industrialists and corporis, and I'd call them the Paris in
11:33
the class or the political class, they decided to ship jobs
11:36
overseas for labor arbitrage. And in so doing, the middle
11:42
class in India has exploded. So they can afford plenty of
11:46
silver and gold. I would say their discretionary
11:48
cash exceeds that of the average American, who we're seeing our
11:53
purchasing power eroded through inflation.
11:57
They're seeing their wealth protected through silver and
11:59
gold. And why wouldn't they?
12:02
They've been stung in the past. Remember, they were colonized by
12:05
the Brits, and so they know what it feels like when there's a
12:09
regime turnover. And that political instability
12:12
is always a good tailwind for gold and silver.
12:16
So, So what does it tell us if we think about just India alone,
12:21
1.4 billion people, an economy, probably one of the fastest
12:27
growing economies in the world, an economy that's that's rapidly
12:31
increasing the size of their consumer or middle class, and a
12:37
country where precious metals are woven into the fabric of the
12:42
society. And that's just India.
12:45
And there's 1.4 billion people. And there's also this staff that
12:48
says that demographically there's going to be more India's
12:52
like leads the world in terms of like the next 15 years.
12:56
I think it is with the number of people, just from a demographic
12:59
perspective, they're that are going to be reaching adulthood.
13:03
So you got all these people reaching adulthood, all these
13:06
people joining the middle class and oh, by the way, their
13:09
parents and grandparents. If I I I heard it, it said that
13:13
once in India, the grandparents will tell their grandchildren to
13:18
to own your weight, your body weight in silver and then to own
13:23
as much gold as you possibly can.
13:26
Yeah, and the other stat people know, you see, people in the
13:29
West are extremely, I don't want ethnocentric and they don't have
13:34
this sort of critical thinking skills or curiosity in other
13:38
people's cultures. And you got to remember, I'll
13:42
give you another talking point. Carnegie Mellon right now in
13:45
Pittsburgh is the only university in the world or in
13:49
the United States, North America, they is granting APHD
13:53
in robotics. And what do we know about the
13:55
future of AI in robotics? And 90% Ron are Asian students
14:03
that are in the education department.
14:05
So these are these. And the reason being is because
14:09
the US citizens cannot pass the boards or the have the
14:13
transcript or even have the GME scores to get into the top
14:18
engineering schools. So I have a personal rule when I
14:21
have a physician as I, I'm hoping it's an Indian or, or
14:25
someone from Asia and that I guess that's some reverse form
14:29
of racism. But I, it's just, I want someone
14:33
that was paying attention in medical school, not distracted
14:36
on social media or addicted to the whatever the Justin Bieber
14:41
and Taylor Swift are up to or some Netflix series.
14:44
I'd rather them have that. You hear about the tiger mothers
14:48
that are, you know, that's what I want when my doctor is slicing
14:52
me open for the 7th time because I've had one too many
14:55
cheeseburgers. But if they're stacking silver
14:59
and gold and central banks are, and the projection is the people
15:03
are far outpacing the central banks, then it's it's just a
15:07
matter of time. Silver's moved from $22.00 to 30
15:11
in just two months. That's 25% and Jim Rickards just
15:17
pinned a piece yesterday on $27,000 gold.
15:21
So and Luke Groman is very conservative.
15:24
He's got it at 20,000 and it all it is, is that the re evaluation
15:29
that occurs when the Fiat anytime there's a new regime or
15:33
a new monetary system, gold sort of steps up and you just take
15:38
debt and you divide it by oz above ground and that's the the
15:41
new price of gold. So.
15:43
Yeah. Do you, do you think that that
15:47
and I'll raise my hand, I'm guilty of this, right?
15:49
I mean, the thought of that happening seems, I want to say
15:56
unlikely. Like there's part of me that
15:58
says, yes, that's it's bound to happen, right.
16:01
But then there's another part, I think that I think they call it
16:03
normalcy bias or recency bias where I'm like, well, it's not
16:06
happening. It's you know, we're maybe now
16:08
things are different. Do you think, though, if we look
16:12
at history, that it's happened every time, every one of these
16:16
Fiat, you know, fractional reserve paper money, whatever
16:20
you want to call it, systems, they've all collapsed.
16:23
I know Lynette Zhang has piles of different paper money from
16:27
all these different failed Fiat currencies over the years.
16:31
I think it's going to be a big, I think it'll be shocking to
16:33
guys like us. I think it'll be like your.
16:36
How do you think the average American will react to this,
16:39
John? Well, there'll be a lot of
16:41
denial at first, but the patriotism will be replaced with
16:46
reality. And what I think happens is, and
16:50
you did reference Lynette Zhang, James Turk wrote a great art of
16:54
he's written a few great books on gold.
16:57
And when he talks about the Fiat graveyard, I'm starting to write
17:02
a graphic novel called Tarnished Crown, a graphic novel of silver
17:07
wars and paper promises. And we start with the very first
17:11
minted coins during the Peloponnesian War, and then we
17:15
trace it all the way to today. And every single time, the
17:19
regime that fails is because they cling to warfare as their
17:25
only economic engine. And once you've crossed that
17:29
threshold, which Eisenhower warned in his farewell address,
17:34
beware of the power of the military industrial complex.
17:39
And then when you have on top of that, Congress, and we used to
17:42
think of them as aristocracy would be maybe ruled by an elite
17:47
few, or democracy ruled by the people, or even plutocracy,
17:52
ruled by, you know, some sort of a smaller elite few.
17:57
Now we have kleptocracy, which is theft, like kleptomaniac.
18:03
They're funding both sides of these wars and it's a heck of a
18:06
lot easier to steal money once you take it overseas.
18:10
That's why you see these projects voted by both
18:14
Republicans and Democrats to keep funding Ukraine.
18:18
It makes no sense. I think they're over 130 billion
18:21
right now and we've had 57 undeclared wars since World War
18:25
Two and according to Ben Norton, 250 since the 1990s.
18:31
So it makes sense it's the only thing backing the dollar since
18:34
1971. Nixon closed the convertibility
18:37
I. Want I'm going to interrupt you
18:39
because that's Bernie. I'm going to ask you this
18:42
question. Do you believe because I've read
18:45
it and, and it makes sense to me, but I'm curious to get your
18:48
insight that Nixon, one of the big reasons why Nixon took us
18:53
off the gold standard temporarily.
18:55
Guys, don't forget it's, but we, it's been a long temporary 45
19:00
years, 44 years none the less, temporarily took us off the gold
19:04
standard was because he needed money.
19:07
I've heard 222 trains of thought, but they, they, they
19:11
make sense with what you're saying.
19:12
Number one, they needed money to pay for the Vietnam War and #2
19:17
he needed money to to kind of help fund some types of programs
19:21
he wanted to put in place to help his re election potential
19:24
re election bid. Yeah, the Lynette Zane going
19:28
back to her, she put a great graph out that shows right when
19:32
he did shut the window, the frequency of wars shot up, up
19:38
and to the right. And the reason that happens is
19:40
if if you and I were vice president and president, I'll
19:43
let you be president. No, no, no.
19:46
But we, if we were to go to the people and say, what do you
19:50
think of this conflict in Somalia or this conflict in
19:54
Afghanistan where we replaced the Taliban with the Taliban and
19:58
it was a $2.3 trillion, five times the price of Vietnam.
20:02
If we ask the people, our constituents, do you vote for
20:06
this? They would say no.
20:08
So a politician's always gonna want an unconstrained monetary
20:13
system that thus I would agree with the first part of your
20:17
theory. Is that it was to pay for
20:19
Vietnam. And let's not forget that the
20:22
president of France did show up with a Navy ship to get the gold
20:29
back. Well, they started repatriating
20:32
the gold and at that point Nixon knew that there wasn't enough in
20:36
Fort Knox if other nations did likewise.
20:39
So he had no choice but to shut off the gold convertibility.
20:43
A central banker will always unwelcome gold because it
20:48
provides competition for their financialized instrument.
20:52
So, so in 1971, if, if we'd stayed on the gold standard in
20:57
this country, which by the way worked really well for what I've
21:01
recently heard was 180 years. It was like the 180 years where
21:06
the United States when we were on the gold and the bimetallic
21:10
standard where we had economic growth that has been unrivaled
21:14
throughout history. But but none the less, had Nixon
21:18
stayed on the gold standard and wanted to do what he wanted,
21:21
what he, what he would planned on doing in the future, he would
21:25
have had to gone to the United States citizenry and said, are
21:27
you in favor of this? Oh, and by the way, if you are,
21:31
because we're on the gold standard, we can't just create
21:34
money out of thin air. We're going to have to lower
21:37
your, your social benefits. We're going to have to raise
21:41
taxes, right. I mean, they actually it it it
21:44
it the gold standard forces a a real discipline of
21:49
accountability upon the government is that is that.
21:52
Safe. Yeah, I would say a constrained
21:53
monetary system keeps politicians from going on crazy
21:58
adventures. A.
21:59
Little more honest. Yeah, I don't think the
22:01
entitlement programs are much of a drain on our system.
22:05
I mean, people that have fed into Social Security all their
22:08
lives certainly deserve that benefit.
22:12
Children who are the victims of abuse and neglect need
22:16
protection. Those we do need, fire, police,
22:21
roads, bridges, those. There's plenty of money for that
22:23
in the budget. What we don't need are Lockheed
22:27
Martin Martin, Marietta, Halliburton, Northrop, Raytheon
22:32
and and Los Alamos and Sandia Labs Mooching.
22:36
I call that more like corporate welfare of the parasitic class.
22:42
So there's a way to have a good defense, but defense should be
22:46
when the troops arrive on your shores, you shouldn't be out
22:50
there going on adventures that are like, you're a rogue state
22:54
and you're on these unilateral adventures just to basically
22:58
steal other people's gold and oil.
23:01
I believe Iraq still has to settle all of their oil in
23:06
through the Federal Reserve. Oh, you got to, you know, ask
23:10
Libya Gaddafi how it went for him when he started talking
23:14
about gold. You know, it didn't end well.
23:18
It's almost like it didn't end well for the, the, the poor
23:22
Aztecs. Or when Pizarro showed up one
23:25
day. You know, it's, it's very
23:27
similar to Rome's playbook where Severus Septimus said to his son
23:32
on his deathbed, take care of the soldiers and scorn everyone
23:38
else. Those were his dying words.
23:42
He said to the and, and they took him seriously.
23:45
And soldiers were well paid and the the citizenry or the 1%,
23:50
they were given bread and circuses.
23:53
So bread was a bit of their stipend for grains.
23:57
And the circuses were the Colosseum games.
24:00
And Ron, as much as you and I like Colosseum games, let's
24:03
admit that the US and Rome are going down the same path of
24:07
where the citizens are distracted and the leaderships
24:10
are involved in unindied wars. Yeah, yeah, absolutely.
24:14
And then on top of that is we we know that we're hearing reports
24:17
that more and more countries are making moves to repatriate their
24:22
gold back from the United States.
24:24
That's exactly right. And that gold will not be there.
24:27
Maybe the first truck will get loaded and then they'll shut it
24:31
off again. And just so, yeah, we're or
24:35
watch this unfurl in real time. Sure, they're still going to be
24:39
the US dollar. It's just not backed by
24:41
anything. And if you got it, let's think
24:43
of just what happened in the last month.
24:45
Janet Yellen goes to visit with President Xi Jinping and he
24:51
doesn't even meet with her. If you're looking to buy gold,
24:54
silver or platinum, do yourself a favor and check out Pinbex,
24:59
the online precious metals bullion dealer and sponsor of
25:03
Ron's Basement. I was a happy customer before
25:06
they offered to support the channel.
25:08
You'll find they have the best prices, quality and service.
25:12
I think Pinbex is best, and you will too.
25:16
And be sure to tell him that you're from Ron's basement.
25:18
Think of the train metaphor. If we had the time during the
25:22
Industrial Revolution where we had coal firing up the steam
25:27
engine, and then we we're lucky enough to discover oil near
25:31
Pittsburgh in Oil City, which was not that long ago.
25:35
Now we're at this new transition where we'll never phase out
25:39
fossil fuels, nor should we. We're going to need all the
25:43
energy and solar again, one GW equals 500,000 ounces of silver.
25:49
So we're all bullish on these industrial uses of silver.
25:53
But in history, when silver goes on its biggest bull run is when
25:57
it has a monetary use as well. And that's why this thing
26:01
happening with Brazil, Russia, India and China and this
26:06
architected through Serge Iglasiev is This is why we're
26:10
seeing silver go on a bull run right now.
26:13
And if there's there'll be some sideways chopping in some minor
26:17
pull backs. But once the West loses control
26:20
of market rigging, we should see its true discovery.
26:25
You know, no one knows what that number is.
26:28
You can either say the dollar is like you'd said earlier, the
26:32
cleanest shirt in The Dirty pile of laundry, or you can just, I
26:38
think Mike Maloney says things like, hey, guess what?
26:40
An ounce of silver today is 129th of a dollar.
26:46
That's how he he says it that way, which is a good way to look
26:49
at it. Interesting.
26:51
Yeah, Yeah, No, I know. And and and I like what you're
26:53
talking. About, I mean, the dollar's
26:55
129th. Excuse me?
26:56
The dollar's 129th of an ounce, right?
26:59
Because people, people will jump down my throat all the time
27:01
because I'll say, you know, oh, we could have.
27:03
We could have $60.00 silver. We could have, you know, we
27:07
could have $200.00 silver, we could have 600, we could have
27:11
like, you know, 50,000. It just depends on how.
27:15
How quickly, yeah. Exactly how many pieces of
27:18
paper, right? I mean, I was showing this
27:20
earlier, John, this is a silver certificate, right?
27:24
It looks a lot like a dollar, but it says right at the top
27:27
silver certificate. All right, This is just a paper
27:31
dollar. I mean, it's just, it's nothing.
27:33
And we could get to a point where I mean, what it really,
27:36
what it really depends on is how quickly and to what extent the
27:40
dollar devalues in the future. And, and, and when we look at
27:44
the gold market and the silver market, and it's just
27:47
fascinating the different dynamics going on in both of
27:50
them right now. You know, silver with its
27:52
industrial component, but in, in gold with its, you know,
27:57
monetary component that is becoming just more and more
28:02
prevalent throughout the world. But then silver also with this
28:05
monetary component, but it's industrial component.
28:08
And then you throw copper into the mix.
28:10
And what's going on with copper right now?
28:12
And I, and I'll argue, you know, silver's kind of in the, let me
28:15
ask you this question. Do you, do you see silver kind
28:18
of in the middle? Like gold is the godfather of
28:21
precious metals and then you have silver.
28:24
That's a precious metal related to gold.
28:27
But silver is also an industrial metal, and you could say it's
28:30
related to copper does that does.
28:33
That yeah, no, that's pretty good.
28:34
You're setting up what I call the triumph for the I mean you
28:37
got if you but we you got to remember too you as we found
28:42
research going back to when John B Stevens testified before
28:46
Congress. And if people write me, I'll
28:48
give them the 70 page transcript that where US couldn't even
28:54
really maintain a copper standard which is competed.
28:58
Now if you think of the fact that a penny now I think is melt
29:02
value may be worth up to three cents.
29:04
Maybe yeah, James Anderson, I shared it yesterday, tweeted a
29:08
picture of he said, sorry, Abraham, you know, to Abraham
29:11
Lincoln. It's like you're you're worth
29:13
more. Melted down three cents.
29:16
Get get James on your show. You had him, didn't you?
29:19
Yeah. I had him, yeah.
29:20
Great guy. He is just a bright kid and I'm
29:24
I call everybody a kid. You're a kid.
29:26
I mean you are. I mean you got I'm not.
29:30
I won't talk about your family photos because there may be some
29:33
nefarious. I had I had children later in
29:35
life. Yeah, well, no, but they're just
29:38
adorable. And I do want to let the viewers
29:41
know that I'm going to be in the four corners soon working on a
29:46
silver filtration project. Silver also purifies water with
29:51
with clay on on the reservation as well as Pinon.
29:56
And I'm going to eat at the chili pod.
30:00
It's delicious it Ron, I'm telling you this.
30:03
Is. Going to be the best dinner
30:05
ever. Fortuna Silver Mines is a global
30:08
intermediate gold and silver producer since 2005.
30:12
Fortuna's best in class management has delivered
30:15
impressive growth and profits. Fortuna's solid financial
30:20
position and operational expertise allows for performance
30:24
in any precious metals price cycle and provides a foundation
30:29
from which to harvest great profits in more favorable metals
30:32
markets. Investing in Fortuna is an
30:35
investment in quality, long term sustainable production of in
30:40
demand precious and base metals. I think this is exciting and I
30:45
showed this earlier, so hopefully you'll be able to see
30:48
this as well. Here we go.
30:50
Have you seen this slide from Tavi Costa?
30:53
Did you see this one that shows the amount of?
30:55
Ron, I get most of my information from Ron's basement.
30:58
He's awesome though. Let me show me what it is.
31:01
Can you see it up on the screen right now?
31:03
I can, yes, Sir. Yeah.
31:05
So that shows gold and gold miners as a percentage of total
31:10
global assets. To me that's just mind blowing.
31:14
And I know you follow some of the mining stocks as well.
31:17
Yeah, I would look at it this way, everyone.
31:19
This is the simplest way to look at it.
31:21
If you take Exeter's pyramid and remember, Mr. John Exeter was a
31:25
member of the Federal Reserve. He wasn't some insane gold
31:29
enthusiasts like Ron of Ron's basement or John of the Silver
31:33
Academy. He was, you know, I would say he
31:36
was on the other side if we were to paint him out as an enemy.
31:39
But he admitted that all of these assets, if we just take
31:43
global debt, is over there it is.
31:46
OK, your your wish is my command.
31:48
Man, Yeah, thank you. The gold market there.
31:52
So let's just take U.S. debt at 34 trillion, world debts at 303
31:58
trillion. Derivatives are in the
32:01
quadrillions, folks. But the gold market right now is
32:04
only 15 trillion and silver is 110th of that.
32:10
So I think what you're seeing that that's sort of the other
32:13
way to represent Tavi's chart. And, and think of it just like
32:18
a, a burning candle wax just dripping towards those are the
32:24
only, I would say that and maybe a house or something that's
32:27
tangible. Maybe I got some artwork behind
32:30
me that I think the the will retain its value.
32:33
Some people, I heard the author of the creature Jekyll Island
32:37
talk about you may want to get a a garage and fill it up with,
32:41
you know, red or white wine. I mean, people have done that
32:44
before. So collect art collect.
32:46
But I'm just trying to be a simple man, Ron, and take care
32:50
of my family and don't let the dollar eat into things that I
32:54
the quality of life like your housing, education, medical
32:58
needs, food, energy. They don't even count some of
33:03
those things in the CPI, Ron right?
33:07
What is that? Right, right they.
33:10
They talk about it and what is a basket of, of, of my baskets
33:15
different than your basket, Ron and my I just saw my mom.
33:18
She's 87. Her basket looks, no, nothing
33:21
like our basket, you know, in South Dakota or in Pittsburgh.
33:25
It's insane. Yeah, yeah, yeah.
33:28
You made me think of of something that I thought this
33:30
was very funny at a Missouri. One of the Missouri politicians
33:33
who's involved in the legal tender legislation was a guest
33:36
here in the basement. And he said, one of my
33:39
constituents is like 87 years old, like you referred to your
33:43
mother. And, and, and, and he said this,
33:45
this, this 87 year old man told him that he's amazed at how much
33:50
stronger he's getting physically as he gets older because he used
33:56
to have to use a cart to push $100 worth of groceries out of
33:59
the grocery store and now he can carry it in two bags.
34:04
Oh my gosh. So let's don't.
34:07
I don't want to depress everyone because there is hope.
34:10
And the hope is in our, in our brains, in our hearts, in our
34:14
souls, positive visions, you know, manifests.
34:18
And what you do here today, Ron, when you get 708 hundred, 900
34:23
people together and you're up to already 35,000 subscribers in a
34:27
really short time, it's basically your, it's like a
34:31
church service. But we're not dogmatic or
34:35
demagogues or judgmental. You know, it's all faiths, all
34:39
creatures, all cultures coming up with strategies that are
34:44
going to almost like if you were to train us on how to get
34:48
through a two week wilderness camp, it's survival skills.
34:53
And I'm, I wanted to show my gratitude to you for that.
34:56
Man, wow, and you and you know how I and, and, and most all of
35:00
my followers that also are subscribed to you at Silver
35:03
Academy, the pickaxe feel about you as well.
35:05
And that's really what it's all about is we're, you know, we're
35:08
trying to protect ourselves, protect our families.
35:12
And I don't think that any of us are like have dreams of becoming
35:16
wildly wealthy or anything like that.
35:18
We wouldn't, you know, we wouldn't argue with that.
35:20
But I think what we're really about is community and helping
35:23
each other out. I want to ask you one more quick
35:25
question on extras Pyramid before I put it down.
35:28
When I look at it, I see gold and silver is the only real
35:33
things in that. And everything above gold and
35:36
silver, interestingly, are all kind of like man made confidence
35:41
based, make believe instruments. And, and when I look at that
35:45
pyramid, what excites me about gold and silver and I and, and,
35:49
and I appreciate you pointing this out.
35:51
This pyramid was designed by a guy who worked for the New York
35:55
Federal Reserve And he didn't, this wasn't like in the 1800s or
35:58
anything. This he just died like I think
36:00
10 or 12 years ago, John extra. But when I when I look at that
36:04
pyramid, and I want to get your opinion on this, John, if I'm
36:06
falsely deluding myself and my followers by saying this, if I
36:11
think of it like a real pyramid made out of stones, right?
36:15
And it's an upside down pyramid, gold and silver at the bottom,
36:18
that when I think of pieces of the derivative, one of the
36:21
stones out of the derivatives market falls out.
36:24
When one of the stones out of the bank, money falls out of
36:27
people lose. That is that money falls out
36:30
that and that those segments of that pyramid are much more
36:34
massive than the gold and silver at the at the at the point.
36:38
But as those stones fall out, they need to, they need to find
36:42
a new home. And that new home is going to
36:44
be, I guess that's Gresham's law, right in the gold and
36:46
silver sector. And it's that old Hoover Dam
36:50
being drained with a garden hose type scenario.
36:53
Yeah, that you said it really I, I can't improve on that.
36:56
The only thing I could say to people is that gold is a noble
37:00
metal, meaning that it is the most resistant to interference
37:06
with gases and corrosion and things of that nature.
37:10
And silver is the number one conductor of electricity as well
37:15
as reflectivity and the most ductile and the most malleable.
37:19
So and they're both on the periodic chart of elements as
37:22
well as copper. So those other, that's what I
37:25
think I hear you saying is they're of nature.
37:27
The other things on there are basically find, let's just call
37:32
them a derivative. It's something that derives
37:36
value from an underlying asset, so.
37:40
Or confidence or confidence right or and and what and what?
37:43
What's the first three? Sorry but what are the 1st 3
37:46
letters of confidence? Con right?
37:48
A con job? Sorry.
37:50
Yeah, that's right. I know I can't.
37:53
I think we're vibing pretty well.
37:55
I almost feel like it went so well that you should say goodbye
37:58
to me before I usually I have this.
38:02
Before we say goodbye, John and #1 thank you.
38:05
And before we say goodbye, I almost forgot.
38:07
I want to do this, which is one of the most important things.
38:11
I want to bring people out to one of your sub stacks.
38:16
This is the silver Academy, guys.
38:18
Do yourself a favor, OK, if you're going to buy precious
38:21
metals, check out pin backs, throw them into the mix.
38:23
But if you're going to learn about silver gold, sign up for
38:27
John sub stack. This is just one of them.
38:29
The link is in the description of this and every single piece
38:33
of content I put out. John, anything you want to say
38:35
about your about your sub stacks or anything I missed that you?
38:38
No, just just adding them to the description fields plenty.
38:42
You've been such a supporter of of our movement.
38:46
Again though, this is just about the community and and us.
38:51
I learned as much from you and your listeners and followers.
38:56
So it's it, you know, let's just continue this March.
39:00
Stay tough, persevere, and you never give up.
39:05
Never. You know, there's days that are
39:06
gonna suck if I'm allowed to say that on YouTube anyway.
39:12
Absolutely. Yeah.
39:13
Thanks, John. We'll look forward to having you
39:14
on next time. Anything I forgot to ask you
39:17
anything? No, we're we're good, Ron.
39:19
You're just, you're an Angel from heaven.
39:21
And I'm glad I follow you on on seriously, I mean that.
39:24
And thank you to your followers too.
39:28
Thank, thank you, John and the and the feelings are mutual.
39:32
And like I said before you came on, right, you're my mom's
39:35
favorite. So she's she's going to be happy
39:37
you were on the show. Today, well, she may adjust that
39:39
after today's lesson. We'll see.
39:41
Take care, everybody. And so it's good visiting with
39:44
all of you. Yeah.
39:45
See you, John. Thank you.
39:46
All right. Stay awesome.
39:47
All right, Thanks, buddy. All right, guys, thanks for
39:49
being here. I'll see you next time.
39:52
And everybody have a great day, OK?
39:55
It's a big deal that you support us.
39:57
We appreciate it. John Little, what a great guy.
40:00
I mean, really puts in a ton of work for the silver and gold
40:05
community. But it's something that he
40:06
believes in. It's something that I believe
40:08
in. I think it's something you
40:09
believe in too. Take care of yourself, OK?