Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ⚡ALERT⚡ This Is CHANGING Everything for the SILVER PRICE... (Gold Price Too!)

Transcript

⚡ALERT⚡ This Is CHANGING Everything for the SILVER PRICE... (Gold Price Too!) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
We are in the midst of a major pivotal week right now for the
0:05
silver price and the gold price. There's a lot going on and from
0:09
here we could pivot to much, much higher prices.
0:15
What do you think? Leave a comment in the comment
0:17
section, please. We want to learn from you.
0:20
Your thoughts matter, right? You don't always have to agree
0:23
with me. You don't have to agree with the
0:25
other people that are here with us right now watching this
0:29
video. However, we do want you to
0:31
participate so please do leave a comment.
0:33
Why is this such a major week for the silver price and the
0:38
gold price for that matter? We had gold close on the
0:41
December futures at like I believe it was a record all time
0:45
high. It's hard to keep track of all
0:47
this gold closing at a record all time high.
0:50
But what about silver? When will silver break above
0:55
that key level? Do you realize why $32 and $0.50
1:01
for silver is so critical? Yes, because once we get above
1:06
that, that's right, there's very few people who are going to be
1:09
interested in selling their silver.
1:12
It's called low overhead resistance.
1:15
Guys, once we get the 3250, I'm telling you, it's it's happy
1:20
times. It's the the great road ahead
1:23
for the silver price. But let's talk about why right
1:26
now is such a pivotal week for the silver and the gold price
1:30
for that matter. This morning we got the PPI
1:32
numbers, the producer price index, inflation numbers.
1:36
They came in, oh, surprise, surprise, they came in lower
1:41
than expected. What does that mean?
1:45
That means that inflation is coming down, according to the
1:50
trusted government sources that provide us with the information.
1:55
Now look what that really means for silver and gold.
1:58
It's an upside down, backward world that we live in right now,
2:01
right? Silver and gold always keep up
2:04
with inflation, but on a temporary basis.
2:07
If inflation comes down, that means that clears the road for
2:12
the Federal Reserve. And our old friend, you know
2:15
him, you love him, Jerome Powell to to ease back on interest
2:21
rates, to ease off on monetary policy, which is just a fancy
2:25
way of saying to lower interest rates and gold and silver.
2:30
The price will love this new regime when it comes to be that
2:34
is lowering interest rates. We got the first taste of that
2:38
this morning with the PPI, right, That measures like
2:43
wholesale prices between businesses, the cost of finished
2:46
goods doesn't include food and oil.
2:49
Whatever it's whatever it is, whatever it is they reported to
2:53
us and we believe everything they tell us that prices are
2:56
coming down. Now tomorrow is the big kahuna,
3:00
the CPI, the consumer price index.
3:04
I believe we're going to get that baby tomorrow.
3:08
That's what you and I pay. That's what you pay.
3:12
Are you feeling when you go to the grocery store that prices
3:15
have stabilized, right? Maybe even coming down a bit?
3:20
Look, I was the first to scream and holler about inflation.
3:23
It was out of control. But I went to ALDI over the
3:27
weekend and did some grocery shopping.
3:29
And it seems to me, my general observation over the last three
3:33
to six months is that most prices have stabilized.
3:37
And we're going to talk about why that could be the case.
3:39
It could be because we're going into a depression.
3:43
No, never, right, a recession, no, never.
3:47
But tomorrow nonetheless, we'll get the CPI numbers that'll be
3:50
out tomorrow morning. Again, I will predict, I believe
3:54
that the numbers will be lower than expected, meaning that the
3:59
inflation rate officially is coming down.
4:03
That will be very supportive, continue to be very supportive
4:07
to the to the price of silver and gold.
4:10
What do you think? Like I said, leave a comment
4:12
guys. Your thoughts matter.
4:13
You don't have to agree with me. That's how we learn as basement
4:17
dwellers right from each other when we disagree.
4:21
If everybody just agreed with each other, we'd be nothing but
4:23
a big echo chamber. So if you have an opinion, let
4:26
us know. Actually, I've got a comment
4:29
going to read later on from one of you and going to address from
4:33
yesterday's video. OK, so we've got that.
4:36
Thursday, let's wrap this up. The biggest Newsweek in the
4:39
history of the planet for silver and gold.
4:41
OK, maybe not the history of the planet, but a major week, a
4:45
pivotal week for the silver and gold price.
4:48
Thursday, we'll wrap things up with retail sales.
4:51
Guys, things are slowing down, OK?
4:55
Do you feel it? Are we going into a recession?
4:57
Are we headed into a depression? No, never.
5:01
Couldn't be right. Let's let's let's go take a
5:05
quick look. It's an interesting data that
5:07
we're receiving. And let's start with this
5:12
article here. Whoa, brother, hold on a second.
5:16
Hold on a second. There we go.
5:18
All right, The Associated Press put this out.
5:21
No, I don't want your your offer and Americans refusal to keep
5:29
paying higher prices may be dealing a final blow to the US
5:34
inflation spike. Yes, because Americans don't
5:38
have any money. Remember, Let's, let's, let's,
5:41
what does this show us? Hold on here.
5:44
What is this chart? Show you and me, right?
5:49
That's the Japanese yen. That's the wrong chart.
5:53
There's a chart of US consumers credit card debt people are
5:57
guys, we're at like record high levels of credit card debt while
6:01
at the same time people are paying record high interest
6:03
rates. So as this economy slows down,
6:05
here's the, here's the, here's the key take away here as the
6:09
economy slows down and we're seeing it, we saw it in the PPI,
6:14
they'll say, oh, we won the fight on inflation.
6:17
Yes, that's right, Jerome, maybe you did win the fight on
6:21
inflation, but you did it at the cost of the American economy.
6:25
You did it at the cost of the American middle class.
6:28
Really. Cuz as we've talked about as
6:31
nauseum, I think you don't You think the wealthy are doing
6:34
pretty well right now. I do right.
6:38
But the middle class they're struggling.
6:40
So sure you can you can get rid of cuz nobody has any money to
6:44
buy anything. All right, we also saw that this
6:47
morning. Quick headline, quick headline
6:49
review. When we go out to hold on here,
6:58
Home Depot slashes sales and profit outlook as as higher
7:05
rates pressure demand. OK, let's look at this tweet
7:09
that came out. This is great.
7:11
This is aging pretty well so far for Home Depot.
7:13
They beat, they guide everything lower.
7:16
They say foot traffic weakened as the quarter progressed and
7:20
they guide same store sales to decline 3 to 4%.
7:25
Home Home Depot expects business to get worse in the back half of
7:30
the year, which is number one new.
7:32
OK, that's new news and #2 bad. That tells us what is happening
7:38
out there in the economy right now.
7:40
Again, what we have to remember is silver and gold investors as
7:44
as this economy goes into a recession or possibly a
7:48
depression, OK, the Fed will react by printing money. the Fed
7:54
will react by, by, by with emergency actions.
7:58
We talked about this just one week ago, right?
8:01
They won't let one week ago when when we had a little, a little
8:04
bump in the road, right? The world was falling apart for
8:07
like 30-4 hours if you remember correctly last week something
8:13
happened and fixed it. Oh the Bank of Japan.
8:15
You better believe they were on the phone with the Bank of Japan
8:17
saying you better walk back your statement.
8:20
That all started because the Bank of Japan said they were
8:22
going to raise interest rates by, what, 1/4 of a percent right
8:26
here. We accidentally showed this
8:29
earlier. Let's show it on purpose right
8:31
now. OK there.
8:33
Right. The Bank of Japan, that's their
8:35
interest rate. They just, oh, we're gonna,
8:37
we're gonna, we're gonna make our interest rates go from
8:39
negative to positive. And it created a tsunami.
8:44
Their stock market went down by 12%.
8:47
The stock markets in Taiwan and Korea, South Korea went down the
8:53
most since 1967, OK. That's how fragile the system
8:58
is. That's how delicate everything
9:01
has become. And that gives us the big key
9:03
take away that we want to think about.
9:06
That gives us a hint about how the Fed will react when there's
9:10
even the slightest bit of turmoil in the US economy.
9:13
They're going to react one way guys, and one way only because
9:17
they're at the end of the road. They're going to react by
9:20
printing money and that's going to make the price of silver and
9:23
gold really take off. We talk about do you think it's
9:27
possible, right? Do you think it's do you think
9:29
it's crazy, crazy speak to think that we could have $44 silver by
9:35
Christmas? I don't.
9:36
What do you think? Leave a comment.
9:39
We need to comment more. We need to participate more.
9:41
I don't think it's crazy, right? But your thoughts matter.
9:44
Your opinion matters. So please, please let us know.
9:48
So let's go talk about. Let's just let's just celebrate
9:50
here a little bit and let's take a look at this.
9:57
This is from our friends over at Twitter.
10:01
Here we go. Hold on.
10:04
OK, Make sure I got you on the right screen, which I don't.
10:10
Here we are. Hold on here.
10:13
I like this better. OK, Twitter.
10:14
Uh oh. OK, now we got it, basement
10:21
dwellers. This is a post from yesterday,
10:24
December Gold ended the Futures open outcry session above $2500
10:31
per oz. This is the first ever daily
10:34
close above $2500 in history. Now.
10:39
Now as part of the community here, you guys are always asking
10:42
about the gold bear, OK, his blindfold comes off when we have
10:46
a Friday weekly close and the spot market above 2500 the spot
10:51
market. So we still have a little ways
10:53
to go, but guys, we have $2500 gold.
10:56
Let's run out to our channel sponsor, pin back and get an
10:59
update on where gold and silver are right now.
11:02
I call this the Pembacs Magic button because when we press it,
11:05
we're going to get an update. OK, it is magic today guys.
11:10
Thank you. Pembacs Gold is up 82 cents,
11:13
silver down 28 cents, $27.69 per oz for silver.
11:20
It was just a short week ago, we shall remember that silver was
11:25
at $26.50 per oz. But I'd like to take this moment
11:31
to say thank you to channel sponsor Pembex and encourage you
11:35
that if you'd like to consider acquiring some silver, gold, or
11:39
platinum group metals for yourself that you consider
11:43
because Ron's Basement. I'm not giving financial advice.
11:46
I'll never tell you what to do. But I think if you check out
11:50
Pinbacks and compare them to the other online bullion dealers,
11:53
you're going to find a couple key things.
11:56
OK #1 They've got a great selection #2 they've got
12:01
customer service which is really second to none.
12:04
A lot of times you can actually talk to the owners of the
12:07
company if you decide to call them on the phone.
12:09
OK #3 And what to me, right, I'm Susie, has different terms to
12:17
describe the way I am. Some of them start with like
12:22
tight wad or overly frugal. But I like to say I'm
12:26
resourceful. I like to get the most metal for
12:29
my money. That's why I discovered
12:31
Pembeck's long before they sponsored Ron's basement.
12:34
And I bought my silver from them because I found that I got more
12:38
metal for my Fiat Unicorn fart dust paper, whatever you want to
12:43
call it, when I was converting paper into real, when I was
12:47
doing this. You guys know the exercise.
12:49
You take some of this, it's magic.
12:51
You take some of this paper, OK, and you can convert it into this
12:57
silver. Still amazes me that we get to
13:00
do that. Isn't that beautiful?
13:02
All right, that's the the round of the week came from my good
13:05
friend, a basement dweller, Big 10, the Silvershire.
13:08
He's also a moderator. Also Jake from Jake's Custom
13:11
Parts is a moderator. Annie Oakley is a moderator.
13:15
Thank you to the moderators. But let's move on to why this is
13:19
a huge, huge week. Why we need $32.50 silver.
13:23
Do you know why we're going to cover it again guys?
13:26
Because I believe the run up from $32.50 once we breakthrough
13:33
that, OK, we bumped up there a couple times lately.
13:35
Once we go through, once we get like a weekly close on the
13:39
silver price around $33 per oz, $34 per oz.
13:45
There's nobody, there's nothing, there's no roadblocks, very few
13:49
obstacles in the way for us to get to 44 dollars per oz in
13:56
silver, and it's an important thing for us to understand.
14:01
It's called overhead resistance. I don't know if you understand
14:04
this idea, but basically what it means is in real simple layman's
14:09
terms, right? We're basement dwellers.
14:12
We're smarter than the average bear, but we like to keep things
14:14
simple. What it basically means is when
14:17
silver gets to $34, there's nobody out there.
14:20
There's very few people who bought silver when the spot
14:24
price was $34 per oz, OK? When it gets to 3638, think
14:31
about it this way, right? There's, there's, there's
14:33
probably some people out there right now that bought silver
14:37
three weeks ago when it the four weeks ago when the spot price
14:40
was 30 dollars, $30 per oz. They might be saying, oh, I made
14:44
a mistake. Oh, I made a mistake.
14:46
And if silver ever gets to $30 again, I'm going to get my money
14:49
back. It's kind of like human nature.
14:51
So those are sellers. That's supply coming on to the
14:54
market. OK, right.
14:56
It's human nature. But when you get up to 3436, I
15:00
don't know anybody who bought silver when it was $36.00 an
15:04
ounce. I spot, I certainly didn't
15:06
$38.00 an ounce. I certainly didn't.
15:08
So there's not a bunch of, there's not a bunch of like
15:11
Ron's from Ron's basement who said, oh, I bought silver for
15:14
$38.00 an ounce and if it ever gets to 38 again, I'm going to
15:17
get my money back, which is a dumb way that I'm calling myself
15:22
dumb. That would be a dumb way to
15:24
think about it, right? Because when something's going
15:25
up, you should hold on to it because it is going up.
15:28
So when we do think about this, when we do get to $35 spot price
15:33
on silver, $38 spot price on silver, there aren't going to be
15:38
people clamoring to sell to get their money back, but there will
15:43
be new people coming in saying, whoa, look at silver hedge
15:49
funds, individuals. What do you think they're going
15:54
to? What do you think they're going
15:55
to think when they when they start to see them?
15:57
What if, just what if, let's let's go out into imaginary
16:01
fantasyland. Just what if the mainstream
16:04
media picks up on the story, right?
16:07
What if, what if we get instead of .01% media coverage for
16:13
silver, we start to get two or three percent.
16:16
It could really take off. It could really, really take
16:19
off. And you know what, this is a
16:21
good time for me. I want to go and and I want to
16:23
share with you a comment that I got that we got as basement
16:27
dwellers from a regular viewer of the channel.
16:31
OK, a great guy as well. OK, Robert Berkey, he's around
16:36
quite a bit. Thank you, Robert, for this
16:38
comment. This was on yesterday's video
16:40
where I talked about silver being gone in the year 2025.
16:44
Guys, it's Peter Carruth, The the, the, the author of the
16:47
Great Silver Bowl, the Bible of silver.
16:51
OK, who else? There was somebody else.
16:52
Oh, this guy, Burn Rooter, this German guru who knows everything
16:57
about the amount of silver that's going to be needed for
16:59
solar panels and for semiconductors, right?
17:03
They're all talking about the fact that silver could be gone,
17:06
gone in the next, I don't know, 1224, heck, I'll even say 30
17:11
months. But Robert said this.
17:13
He says, I want to believe, I really do.
17:17
But I feel like Lucy will always pull the ball away at the last
17:21
moment. And what he's referring to is
17:23
the Peanuts cartoon where Lucy is always setting up Charlie
17:27
Brown for a field goal kick, you know, to kick the football.
17:30
And as soon as Charlie runs up, he thinks he's going to kick it.
17:33
And Lucy pulls the ball out of the way.
17:35
Charlie tries to kick it. He flies through the air and
17:38
says ARF and hits the ground. And that's what silver investors
17:41
have felt like. It will feel that way.
17:43
Thank you, Robert. I want to address that.
17:45
It will. It has felt that way #1 it will
17:48
feel that way until it no longer does.
17:52
OK. I want to show you something
17:55
that will demonstrate. Undoubtedly, it doesn't.
17:57
My mind. Maybe you maybe you have a
17:59
different feel toward this, right?
18:02
I don't know. I feel good.
18:03
I'm looking at a couple silver silver rounds right now.
18:06
Where'd it go? Where'd the one go that I just
18:07
had? Oh, my gosh.
18:08
I lost my silver. What?
18:12
How did that happen? Well, anyway, I'll find it,
18:17
hopefully. Did you take it here, guys?
18:20
Right. Do you feel good about that?
18:22
I feel good about that. OK, remember what those two
18:25
gurus said? Peter Koroth and the guy Burn
18:29
Rooter. OK.
18:30
And other people as well. The guy that runs the Silver
18:33
Institute, John Little, the guy that runs the Silver Academy,
18:37
Right. Showing.
18:38
I mean, what do we know about the COMEX and the the LBMA, the
18:42
London Bullion Market Association, really, OK, all
18:47
their vaults are going down, the Shanghai Gold Exchange going
18:51
down, down, down, down. But let me tell you, let me show
18:54
you something that will visually demonstrate to you why
18:57
eventually, eventually the silver price, the value price,
19:05
who cares what it is in dollars, right?
19:06
The real value, right, where, where we could go from?
19:09
What do we have right now? About 30, let's say $30.
19:12
Buy about 10 gallons of gasoline, right With one ounce
19:16
of silver. I can't believe I lost.
19:18
Oh, there it is. I found it.
19:20
Don't worry. Big Tim Silvershire, right?
19:23
You can buy about. I could go buy about 10 ounces
19:26
of gasoline with that. I think there's going to be a
19:29
day 5-10 years from now where I can take this.
19:33
Instead of $1010.00 of gasoline, we're gonna be talking maybe 20,
19:38
maybe 30. And that'll relate to real
19:40
estate as well. I could show you all kinds of
19:43
fancy charts, right? And the reason why is this is
19:46
the right. This is the reason why, OK, This
19:49
is the reason why. This is the two-minute timer.
19:51
I used to joke around. You guys know Coin Shop Chris,
19:54
right? A very critical part of this
19:57
channel, especially in the early days.
19:59
Still a great friend of Ron's basement.
20:01
By the way, Coin Shop Chris has his own channel.
20:03
You can go there, Coin Shop Chris and check it out.
20:07
Please subscribe. He's working super hard.
20:10
OK, This the what? What what he's doing, What I'm
20:12
doing, believe it or not, is hard work.
20:14
Hey, thank you, Daniel. The Peanuts reference.
20:17
Well, let me show you why the Peanuts reference is going to go
20:20
down. I used to have this timer
20:21
because I joke with Coin Shop Chris.
20:23
It's a 2 minute timer, right? You've seen these before.
20:27
See the sand going down? OK, this up here, This up here,
20:34
right? That's the above ground.
20:36
That's the silver slush fund. Because every year the world is
20:42
consuming more and more silver than it produces.
20:46
The mines can't keep up with the amount of demand, basically.
20:49
So for the last, what, four years now, I think it's like,
20:53
what, half a billion ounces of silver?
20:56
It had to be pulled out of this up here.
20:59
OK. But do you see what's happening?
21:02
Right? Do you see what's happening?
21:04
We'll come back to this in a minute.
21:05
This is going down. And eventually that runs out.
21:09
Wow, Dwight, from my family. Thank you.
21:13
You guys are blowing me away. We just got a massive super
21:17
chat. Thank you Dwight man thank you
21:19
for being part of this community and thank you for that super
21:22
chat. I don't know what to say, but I
21:24
want you to know it's very appreciated Super chats
21:27
comments, please subscribe we're trying to get to 40,000 Thank
21:31
you Dwight. So this oh here here's an update
21:34
that's an update on the above ground silver supplies.
21:37
Do you see that? It's going down.
21:40
OK, I'll try not to forget about that.
21:41
And I try not to lose my silver anymore.
21:44
That's why. OK, Bob, thank you for that
21:46
comment. I read your comments.
21:47
Your comments matter. I probably don't tell you that
21:50
often enough. OK.
21:52
This community matters. So thank you.
21:54
Thank you. Thank you.
21:56
Oh, here's something interesting.
21:58
I didn't realize this. And I think he's going to be on
22:00
the show. There's a company called Blue
22:02
Line Futures. It's a sophisticated future
22:05
silver future trading company guy named Phil runs it.
22:09
I was listening to him this morning.
22:11
Did you know this this is this is interesting.
22:15
And that's why we have to be open to other sources of
22:17
information. Lately, guys, lately the silver
22:22
price has been following closely the copper price.
22:27
He pointed that out this morning in his morning video.
22:30
I hadn't realized that and I looked at it and it is true,
22:33
right? So for some reason, lately,
22:36
everybody associates silver with gold.
22:38
But the reality is, and that's called a correlation.
22:41
When two things operate on the same level, there's a big
22:45
correlation between the silver price and the copper price.
22:48
But we all know, right? What do we know about copper,
22:54
right? We know one big thing about
22:56
copper. Everybody and their brother is
22:59
predicting that we're going to have a massive copper shortage
23:03
in the coming decades. So the copper price will
23:06
absolutely shoot up. Copper's like the, you know, the
23:09
electric metal, right? Kind of like silver.
23:12
Silver's the ultra electric metal, but copper's the is like
23:17
is what they build the roads out of.
23:19
So we're going to keep an eye on copper.
23:20
But doesn't it make sense that the copper price is going to go
23:23
up? I mean come on, let's let's be
23:25
real here. OK, silver, silver, let's see
23:31
what I'm forgetting. But we said thank you to pin
23:34
backs. Yes.
23:35
Am I forgetting anything? I'm going to say thank you to
23:37
you, the number one right? This is not possible without
23:40
you. Let's do an update big uproar in
23:44
the silver community right about the silver.
23:47
I'm sorry the dollar to silver ratio and it's changing and
23:51
changing. This is going to be a surprise
23:54
to me as well. Honestly.
23:57
Thank you again, Dwight, for that super chat.
24:00
That is super appreciated. And also want to say thank you
24:03
to our friend Daniel for that super chat.
24:05
Super appreciated. But let's something I wanted to
24:11
show you guys where'd it go? Hold on here.
24:16
Hey, those that's the giveaway from Pendex, right?
24:19
That's what 18 days from today? We're going to give that away
24:23
during the live stream. There's a link in the
24:25
description of the video on how you can how you can get in that.
24:28
But let's talk about this silver to dollar ratio.
24:32
It's becoming a very interesting, I think it to say
24:37
the least. And we're talking about $431.00
24:43
silver. That was as a Oh my gosh, OK,
24:46
look over here. Do you see my little pointer?
24:49
Guys, this is exploding and it's only telling us one thing.
24:55
This right here, let me zoom in for you.
25:03
This is absolutely going through the roof.
25:09
And what does that mean? What do you think that means?
25:12
The dollar to silver ratio? Yesterday it was at 4:30 one.
25:18
Six months ago it was at zero. Well, don't quote me on that,
25:22
but months back it was at 0 and it was creating a massive
25:26
uproar. Again, this compares the number
25:29
of dollars that are being printed each year for each one
25:35
ounce of silver that's being produced and it is going up
25:39
again. Yesterday it was at 431.
25:41
Now what's even more astounding is if you look at the five year
25:44
average, if you look at the five year average on an annual basis,
25:49
the number of dollars that were printed per year on average over
25:53
the last five years and compare that to the number of Oz for
25:57
each one ounce of silver on average that's produced over the
26:00
last five years, it's more like 1500.
26:04
This shows right that the US is printing money and we can go
26:09
over here. You can see the US and on the
26:12
left hand side where my yellow finger is circling the USM.
26:17
Two, money supply is continuing to explode And what the heck
26:21
basement dwellers, do you think the US national debt is
26:25
continuing to go up? Since we're here, we'll go take
26:27
a look. 35 trillion, $154 billion.
26:33
OK, And why are they finding it necessary to print?
26:38
Why? How about because you think the
26:41
US economy is slowing down like crazy.
26:44
Thank you Charlie. Wow, you guys are being super
26:47
generous today. Charlie says thanks so much for
26:50
all the free information. Well, you just paid for it
26:52
Charlie, but thank you. Thanks for paying.
26:55
I appreciate it. It's always free, but super
26:58
chance are always super appreciated.
27:00
We're trying to get the subscriber count up so please
27:03
thumbs up helps if you press that thumbs up.
27:05
But if you subscribe to the channel, please make sure you
27:08
press the little bell icon. That way you'll get certified
27:11
every time we go live, we want to stick together.
27:14
We want to help each other. That's what this community does.
27:17
That's again, if you're subscribed, you can leave
27:20
comments in the comments section.
27:21
OK, here. This, this is where it gets
27:24
crazy. OK, hold on.
27:26
I, I, I, I could not believe this when I read this headline.
27:31
OK, this tells us why the government is is printing money,
27:35
why the Fed is printing money in uncertain terms, no uncertain
27:40
terms. OK, this shows us why we are in
27:44
very likely a debt spiral right now.
27:48
It's not fun to talk about. It's not a happy situation.
27:51
It doesn't make for, let's say, the potential for easy times
27:56
ahead for our children and our grandchildren.
27:58
But it's the reality of the situation and we have to face
28:01
it. And silver and gold, right know
28:04
what's going on and we'll continue to look further into
28:08
the future and we'll do well under this scenario.
28:10
But without further ado, let's pull this up and talk about,
28:15
hello, the United States. We're always setting records.
28:18
We are exceptional. And this is, is no, no doubt
28:22
from Zero Hedge. the US records the second biggest July deficit
28:28
in history as now. This is what's crazy, guys.
28:33
What do you think? This means 25% of tax revenue is
28:40
now going to pay interest. That means if you're paying
28:44
taxes right now, if you're a taxpayer in this country, and
28:50
really you may not be, and that's OK, good for you, you
28:53
know, But I think only what, like 30% or 40% of people
28:56
actually pay taxes. But if you do for each dollar of
29:01
taxes that you pay, right, they have gotten us into such a a
29:05
screwed up fiscal situation in this country financial situation
29:11
because of the monetary policy. The fiscal means like what the
29:16
government does, right? That's the fiscal side.
29:18
The the government's ability to to run deficits and balance the
29:22
books. OK, that's the fiscal.
29:24
The monetary is what the Jerome Powell in the Federal Reserve
29:28
does. That's the, you know, interest
29:30
rate policy and the, the, the, the, the pre planned destruction
29:35
of the dollar by inflation, the enriching of the 1%.
29:39
That's called the monetary policy.
29:41
But for right now, because it's so screwed up of every dollar
29:45
you're paying in taxes, $0.25 of it doesn't go to pay back the
29:51
debt. No, it's not paying off the
29:53
debt. No, 25% of that dollar goes to
30:00
goes to just paying the interest.
30:03
Oops. On the debt.
30:04
I'm getting everything screwed up here.
30:06
OK, there we go. Hey, let's put up our banner
30:08
guys. It's been a while.
30:10
Banners. There it is.
30:12
This will give you all kinds of information.
30:16
Maybe we'll start putting a joke in there.
30:18
What do you guys think? That's not good.
30:20
We are headed towards a serious, serious situation in this
30:24
country when $0.25 of every tax dollar collected by our
30:30
government is not going to pay off the debt.
30:34
No, $0.25 of every dollar is going to pay the interest.
30:41
I want you to think about that for a second.
30:43
Think about yourself, all right, You run a household, right?
30:46
You're involved in a household, your word mostly all big boys
30:50
and girls here in the basement. And we are girls and boys,
30:54
right, Not just boys. We have a lot of women, females
30:57
who are joining the stacking ranks and they are ultimately
31:00
welcome, right? They know they know how to
31:03
protect their families. Nonetheless you run a household,
31:06
you pay bills, you maybe have you have some sort of income.
31:11
Imagine if for every dollar of income, for every, let's say
31:17
we'll make it simple, 40,000. Let's say you're bringing in
31:20
$40,000 per year. That 10,000 of that 4025
31:26
percent, 10,000 of the 40,000 income you bring in you have to
31:31
use just to pay your credit card bill.
31:35
But it's not going to to to to to lower the balance on your
31:39
credit card. It's just going to pay the
31:42
interest. That's where we are right now in
31:45
the United States. But what makes it even scarier
31:48
is it's getting even worse, OK? It's getting even worse, OK?
31:54
Everything is not OK when the world starts to end because
31:59
Japan raised interest rates by 1/4 of a percentage point.
32:04
The world is not OK. This turmoil, this financial,
32:08
the issues that we're facing right now are likely not over
32:12
the avoidance of pain. Here's here's the here's what
32:16
really gets me. The avoidance of pain is
32:19
destroying capitalism, right? America's supposed to be a
32:24
capital capitalism, capitalist society, right?
32:27
And in some ways we are, right. We'll let the poor and middle
32:30
class suffer with pure capitalism.
32:33
But on a high level, right, there's no, there's no pain.
32:36
The great financial crisis, right?
32:38
The great financial crisis, they didn't, they didn't let, they
32:43
didn't let the big bankers experience any pain.
32:46
Remember that. Nobody went to jail like one guy
32:49
did from that finance company down in Indiana.
32:51
But nobody really went to jail. Actually, what happened was they
32:54
bailed everybody out. Oh, that's OK, guys.
32:57
You made some mistakes. You made some over risky bets.
33:00
These are bankers. Think about this.
33:03
I want you to think about this. A bank is where you bring your
33:07
money. You put your money in the bank.
33:09
They have one job to make sure that you can get your money back
33:14
at some .0. Thank you Susie silver Susie and
33:19
we haven't talked about her for a while, but lovely as soon as
33:22
this over Susie just I can't say scream.
33:25
She gets mad at me, spoke wildly down the steps that we got the
33:28
200 thumbs up. We're going to get back to the
33:30
banker rant in a second. But for now, because we know
33:33
Jake loves it, we all love it, we're going to ring.
33:38
That's the bell. That's for us saying thank you.
33:40
You are the most important part. Thank you for the 200 thumbs up.
33:44
That is awesome. These bankers, these dirty
33:47
little bankers never went to jail.
33:49
They never went to jail. They didn't pay the price.
33:52
There was no pain. Avoidance of pain is destroying
33:58
capitalism. They have socialism.
34:00
If you're part of the upper 1%, they get socialism.
34:03
They get government bailouts, though.
34:05
I'll say, oh, you, you know, we can't.
34:07
We can't have. We can't have, you know, any
34:12
probe we don't want. The rich don't want programs to
34:14
help the middle class and the poor.
34:15
No. But boy, when they have
34:17
problems, they have no issues taking billions, maybe trillions
34:21
of dollars from the government to bail themselves out, right?
34:26
These bankers have one job. Let me get back to that.
34:29
Now's when I get mad. Now I'm getting mad.
34:31
These bankers have one job. You give the bank your money.
34:35
They need to make darn sure that if you want your money back, you
34:40
should be able to get it, right? Doesn't that make sense?
34:46
That makes sense to me, right? But the reality right now, the
34:50
reality in O8 and the reality right right now is if you put
34:54
your money in the bank, right? They may not have all the money
34:58
to give it back right now. On paper, they will, right?
35:01
Because they don't have to mark their investments to market.
35:03
We know they have #1 a bunch of commercial real estate loans
35:08
outstanding. Guys, these buildings, have you
35:12
seen this? It's crazy.
35:14
It's crazy buildings. That wasn't the Sports
35:17
Illustrated building in New York City.
35:19
Did you see that? It sold for like, I don't know,
35:22
five percent, 6%? And I think I'm being
35:25
conservative saying that of, of what it had been valued at just
35:29
like 10-15 years ago here in my home city of Saint Louis, this
35:34
is astounding. The biggest office building in
35:38
downtown Saint Louis, right? The AT&T Center.
35:43
It's, it's a new building, it's massive, it's huge.
35:46
It's sold earlier in the year for pennies on the dollar,
35:51
right? These banks have these massive
35:53
they've got a commercial real estate problem, They have a bond
35:56
problem, which may be getting a little bit better lately because
35:59
interest rates have been coming down, which makes the value of
36:03
bonds go up, but nonetheless, they still got a big problem
36:07
right. So if you bring your money to
36:09
the bank, look here. You know, if I if I started Ron
36:12
bank and you brought me 100 Ki would feel this like intense
36:16
obligation that I need to keep your money extremely safe.
36:21
These bankers didn't do that right In their quest to make big
36:25
profits. They made risky investments and
36:27
it's a big mess, OK, it's a big mess.
36:30
They never straightened out right that you could probably go
36:33
back to 1999. They never really straightened
36:36
out what happened after when the tech bubble burst, but then it
36:39
got way worse during O seven O 8, during the great financial
36:42
crisis. They never straightened it out.
36:44
They never made the elites right face the music.
36:49
They papered over it by printing, right?
36:52
Then we know what they did in C19 might they printed like
36:56
crazy, right? It's, it's just made, it's
36:59
escalated the situation. It's made the system more
37:04
convoluted, more artificial, more synthetic, right?
37:08
It's all synthetic. It's all funny money, right?
37:12
And when the hens come home to roost and eventually the hens do
37:16
come home to roost, uh, oh, OK, there we go.
37:21
It's going to be ugly. And guys, this is so critical to
37:25
for us to understand, OK? Eight days ago gave us a
37:30
massive, a massive hint, a massive preview of what's to
37:36
come. I want you to think back eight
37:38
days ago, OK. It was Monday.
37:40
I was driving home from Wisconsin.
37:42
We've been on vacation. Wonderful time.
37:44
All right, The world was falling apart for one day.
37:48
I heard Daniella Camboni talk about you, like, flew home from
37:52
vacation because the world was ending.
37:54
Right. OK What happened during that
37:57
period? Yes, gold and silver took a
38:00
little bit of a hit. But let me give you a big, big
38:02
hint of what happened, because you talked to Andy Scheckman,
38:06
you talked to Mike, right? The CEO at Pinbacks.
38:09
I talked to him this morning. There was wild levels of demand
38:14
for metals on that day. That's just a little bitty
38:18
taste, right? That's like when you go to Sam's
38:20
Club or BJ Wholesale or what's the other one?
38:23
Costco. I've never been at a Costco.
38:25
I'm saving that for my 55th birthday anyway.
38:30
And they have all those samples, right?
38:32
Like it's always sausage and it always tastes so good, right?
38:35
That one little piece of sausage with a toothpick in it.
38:38
That's what happened 8 days ago. To give you an idea of what's to
38:43
come. You know you can only fight
38:46
gravity for so long, right? And that, and we've been with
38:49
synthetic money. Let me show you quickly.
38:52
And then this will, this will drive the, I believe, drive the
38:57
point home. Hold on here.
39:01
Probably our favorite chart of all time.
39:04
Here we go. Are we up?
39:06
Yeah, we're up already. Hold on here.
39:08
There we go. Can you guys see?
39:10
Yeah, you can see that there's the silver wedgie that we broke
39:13
out of. There's Gold Cup and handle.
39:15
That's a head and shoulders. That's the dollar.
39:18
There it is, guys. They can only hold the pyramid
39:24
up for so long. It's only going to take right a
39:28
tiny portion of all this gold and silver at the bottom.
39:31
Everything else is synthetic. I coined that.
39:33
OK, everything else above gold and silver is synthetic, and it
39:37
all rest on gold and silver. But the incredible thing to
39:41
consider is that it's only going to take a small percent of any
39:47
of these to come down and will make an unbelievable, massive,
39:52
massive impact on the silver and gold price.
39:55
Hey, guys, thank you for being here with me today.
39:58
Being part of this community, it makes a big, big difference that
40:02
we stick together. You are important, right?
40:05
Sure, it's my basement, but you're always welcome here.
40:08
We come together virtually. It still blows my mind that we
40:11
get to do this. It's a real big honor.
40:14
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40:43
Don't forget. Hey look, look at that.
40:46
Do you want that that right there.
40:49
See my finger when I'm pointing at 16.
40:52
It's a 16 oz Coke giveaway and I'm not giving away a 16 oz
40:56
bottle of Coke no thanks to pin backs.
40:58
We're giving away 16 ounces of silver, A10 oz Coca-Cola bar, A5
41:03
oz Coca-Cola bar and a one ounce Coca-Cola bar.
41:06
That'll be on August 31st. You can go to the description of
41:09
this video to learn how to enter that.
41:13
Have a great day. Thank you guys.
41:15
Thank you for the Super chats. Today was an unbelievable
41:18
generous day from you, the basement dwellers.
41:21
Have a great day and I'll see you soon.