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🚨 SILVER Stackers! 🚨 THIS Will be MAJOR News... (Gold Price Too!) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  We are going to have massive news stories this week which
• 0:04
  will have big impacts on the silver price and gold price.
• 0:09
  Next week will be even crazier. We're going to talk about, get
• 0:13
  examples of what we can expect, the reasons why these are big
• 0:17
  news stories for the silver price and the gold price.
• 0:21
  And we have a major warning from Elon Musk.
• 0:25
  But let's get started about what we can expect in the coming 2
• 0:28
  weeks and what that means for silver and gold.
• 0:32
  We're going to head straight out to the economic calendar, guys.
• 0:35
  And this coming week on both Thursday and Friday we will have
• 0:40
  some big, big news stories coming out.
• 0:43
  Initially on Thursday we have the core PCE numbers, PCE prices
• 0:50
  that is the Feds preferred way to look at inflation.
• 0:54
  But on Friday the non farm payrolls numbers will come out
• 0:58
  for that would be October, correct.
• 1:02
  And we know that will also move the market, the silver and gold
• 1:07
  markets. But then the following week, we
• 1:11
  know we have the presidential election right next week, early
• 1:15
  in the week. And then you may have forgotten
• 1:17
  about this guy. She may have forgotten about
• 1:19
  this. But just right after the
• 1:22
  presidential election, we have our good friend Jerome Powell
• 1:25
  from the United States Federal Reserve. the Fed is having their
• 1:28
  big meeting and we'll hear about Fed interest rate policies.
• 1:32
  This is an incredible amount of news coming out over the coming
• 1:37
  2 weeks. I think that by a week from
• 1:40
  Friday, not this Friday, but the following Friday, we are going
• 1:43
  to see a major big move in the gold price and the silver price
• 1:48
  honestly, look, I know I get accused and we get accused of
• 1:52
  being silver pumpers and gold pumpers.
• 1:54
  I have a very positive long term outlook for gold and silver.
• 1:58
  You probably do as well. But when I look out, what will
• 2:02
  that be about 12 days from now, a week from this Friday, it
• 2:07
  feels like 5050. There is so much going on now.
• 2:10
  I'll tell you this as well, what a lot of the smart analysts are
• 2:14
  saying is don't expect a lot of movement in the silver and gold
• 2:19
  price in these coming days until after all of this information is
• 2:24
  digested. Now, of course, a subsequent to
• 2:27
  the presidential election, right after that, we will have the Fed
• 2:30
  meeting. We could have some turmoil
• 2:33
  depending on how this election all plays out.
• 2:35
  It's going to be, I know, buckle up, Buttercup, right?
• 2:40
  It's going to be an interesting couple weeks and it's probably
• 2:43
  going to get more most interesting during the latter
• 2:47
  part of these coming two weeks. So I just want to prepare you be
• 2:50
  prepared. Who knows, like we could get big
• 2:53
  up moves in the gold price and the silver price eventually we
• 2:57
  will don't worry my basement dweller friends.
• 3:00
  But in the short term, we could have some volatility and don't
• 3:04
  forget volatility is not always a bad thing.
• 3:08
  All so much craziness is going on.
• 3:10
  I want you to look at this. You know, the gold price has
• 3:13
  been, let's run out and take a quick look at the gold price.
• 3:16
  We got the channel sponsor pin backs here and OK, gold is up $8
• 3:22
  per oz and we have silver wow, trading at $33.80 per oz.
• 3:27
  So we're getting some strength in the markets, but this is all
• 3:31
  in the face of some very, very strange circumstances going on
• 3:37
  out there right now. Here's CNBC telling us that U.S.
• 3:41
  Treasury, Treasury yields continue their ascent higher, a
• 3:45
  three month high last week and this week.
• 3:48
  This morning, last I checked, the Treasury yields continued to
• 3:52
  go higher. We are in the weird zone and
• 3:54
  I'll explain to you why this is weird because as interest rates
• 3:58
  go up, as Treasury yields go up, that is supposed to crater the
• 4:03
  silver price and gold price and we just haven't seen that.
• 4:07
  Are you seeing it the same way that I am?
• 4:09
  We really are truly right and a new paradigm, a new, I don't
• 4:16
  know, a new tide, a new weather pattern for the silver and gold
• 4:20
  price. Again, let's go here.
• 4:22
  We'll we'll take a quick look at the here's the 10 year yield
• 4:25
  from Yahoo Finance. OK, let's refresh this.
• 4:32
  OK, so we're up to four point, almost 4.3% on the 10 year bond
• 4:36
  yield. And look at the chart, look at
• 4:39
  today. It's just taking off again.
• 4:41
  This should be cratering or it shouldn't be.
• 4:44
  We know in the long run, gold and silver just should go
• 4:47
  higher. But on a short term basis, this
• 4:50
  should be presenting a big, big challenge for our friends.
• 4:53
  Silver and gold, this is one month.
• 4:55
  All right, look at this right, the rate on October 1st, the
• 5:01
  rate, the 10 year bond rate was 3.7%.
• 5:04
  We've gone all the way. That is a massive move.
• 5:06
  And think about this. This happened this this half
• 5:10
  percent up upward movement in the 10 year bond yield.
• 5:14
  This happened right after the Fed cut rates.
• 5:18
  Hello, Does anything make sense anymore?
• 5:23
  Jerome Palm? The Federal Reserve cut interest
• 5:26
  rates, but the the rate on the 10 year bond yield has gone up
• 5:30
  by .5. They cut rates by 1/2 percent
• 5:33
  and the rate on the 10 year bond yield has gone up by 1/2
• 5:36
  percent. I'll say it one more time
• 5:38
  because it's so critical for us to recognize how, how, what a,
• 5:42
  what a, what a groundbreaking fact this is that with that
• 5:46
  interest rate going up, the price of gold and silver should
• 5:50
  be down, down, down. And they just aren't.
• 5:52
  We are in a new world, a new paradigm.
• 5:55
  It's also the dollar index. Let's do a quick update on that,
• 5:59
  right? We don't pay too much attention
• 6:01
  to this because this truly is the the prettiest horse and the
• 6:05
  glue factory. There's a one day chart, but
• 6:07
  let's let's take a look at a one month chart of the dollar index
• 6:11
  and it's the same thing. It follows the interest rates.
• 6:14
  Remember we went from just a month ago having the DXY index
• 6:19
  at right around 100 all the way to one O 4.
• 6:22
  These are massive moves now to put it all together for us guys.
• 6:26
  Again, big news coming out in the next two weeks, basically
• 6:31
  the next, let's say 8 days from now, 9 days from now, right?
• 6:35
  On Thursday we get the the core PCE, the inflation data the Feds
• 6:40
  preferred, right? Is inflation up, inflation down.
• 6:43
  On Friday we get the make believe Bureau of Labor and
• 6:46
  Statistics jobs numbers, which are really, you know, fictional
• 6:51
  numbers, but nonetheless, the market does react to those,
• 6:55
  right? And then next week we have a
• 6:56
  presidential election and just after the presidential election,
• 7:00
  we've got a Fed. Is it interesting?
• 7:02
  We're going to talk about this later.
• 7:04
  One of our fellow basement dwellers provided me with a very
• 7:07
  interesting insight about this upcoming Fed meeting.
• 7:10
  We'll talk about that one as well.
• 7:13
  But be ready for big moves in the metals more toward the end
• 7:18
  of this two week period. But we are heading into a very,
• 7:22
  very interesting period of time. Let's see what Jesse Colombo is
• 7:27
  saying. He's he's a an emerging top
• 7:30
  analyst in this area on the bubble, bubble report.
• 7:34
  He said gold and silver are consolidating ahead of the US
• 7:38
  presidential election. Gold and silver trading remain
• 7:41
  subdued this past week with traders holding back from
• 7:45
  significant moves as they await the upcoming presidential
• 7:49
  elections. And listen to what he says
• 7:51
  because this does make sense. See if this makes sense to you.
• 7:54
  So basically he's saying with all this data coming out with
• 7:57
  the presidential elections. He says in this environment,
• 8:01
  traders are hesitant to make large bets, often resulting in
• 8:05
  slowed range bound trading until the results are announced.
• 8:10
  So I'm telling you guys next Thursday and Friday, I'll say it
• 8:14
  one last time. Buckle up, buttercup.
• 8:16
  Not this Thursday and Friday. What?
• 8:20
  Halloween's the 31st, So not the 31st and 1st, but more that
• 8:25
  following. Thursday and Friday are going to
• 8:29
  be very exciting in the world of precious metals.
• 8:32
  Here's what he has to say about gold and we when he talks about
• 8:35
  gold. We know silver is gold's little
• 8:38
  brother, so bear that in mind as we hear the gold is performed so
• 8:41
  steadily over the past few months that it's orderly ascent
• 8:45
  has almost become predictable. Talk about a good problem.
• 8:48
  The COMEX gold futures recently closed above 2700.
• 8:52
  Issuing yet another bullish technical signal over the past
• 8:56
  week, gold traded sideways and now sits just $18.00 shy of its
• 9:01
  all time high reached on Wednesday of last week.
• 9:05
  Interestingly, gold's consolidation over the past week
• 9:09
  is forming what looks like a bull flag, a continuation
• 9:13
  pattern that suggests further gains once gold breaks out on
• 9:18
  strong volume. And that's what the bull flag
• 9:21
  is, right? The it's consolidation, the
• 9:23
  price is consolidating. We're probably not going to have
• 9:26
  any big moves here in the next 8 or 9 days.
• 9:30
  We could, right? Nobody knows for sure.
• 9:32
  We know that. Basement dwellers in particular
• 9:34
  when it comes to our friend silver, silver can always
• 9:37
  surprise us. But it looks like we're
• 9:40
  hopefully in kind of a consolidation period and from
• 9:44
  there through the end of the year, through November, through
• 9:47
  December, that we could head to new record highs with gold,
• 9:51
  right? And silver, hey, you know,
• 9:53
  silver could break out above this 3234 range where it's been
• 9:58
  sitting here for a little while and go into possibly the $40 per
• 10:03
  oz range. It's going to be very, very
• 10:05
  interesting. And what are they saying over at
• 10:08
  Kitco? OK, Kitco has some really
• 10:11
  interesting insights about what is happening.
• 10:15
  This comes from our friend Neils and what we get here is gold
• 10:20
  investors are buying the dip and don't worry, they talk about
• 10:23
  silver in this as well. Hey, let's go out and do a quick
• 10:27
  let's go do what do you say we go on a field trip together?
• 10:30
  Guys, let's go over to pin backs and do an update.
• 10:32
  Come on gold and silver. Keep it going baby.
• 10:35
  OK, look at that Silver up $0.28 it was down like 28 cents $0.30
• 10:44
  this morning when we all woke up Gold up almost $8.55, 2007 143
• 10:51
  dollars. Guys, I want to say thank you to
• 10:53
  channel sponsor Pembex. They make this live stream, this
• 10:56
  video possible. If you, if you want to gain some
• 11:00
  benefit, want to get some silver, gold, platinum group
• 11:03
  metals in your hands, I'd recommend that you give Pembex a
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  shot. They've got gold, silver,
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  platinum group metals always an ultra competitive pricing, great
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  selection and number one in my book.
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  It's a company you can trust. I trust them.
• 11:20
  I encourage you to do your own research and find that out for
• 11:22
  yourself. And please, please, if you ever
• 11:25
  decide to convert part or all of an IRA, you see them on TV all
• 11:29
  the time, these ads for all these IRA gold and silver.
• 11:33
  They want you to convert your gold and silver into an IRA, and
• 11:36
  some of them even promise you like 10 or $15,000 of free
• 11:42
  silver. I got news for you.
• 11:44
  There's no such thing as free silver, period.
• 11:48
  And nobody going to give you free silver unless I send you a
• 11:51
  coin or you send me a coin, whatever.
• 11:53
  No. OK.
• 11:54
  There's no such thing as free as free silver.
• 11:57
  Somebody's always paying for it. Please take your time.
• 12:00
  If you ever go to convert an IRA, talk to a lot of different
• 12:04
  sources and you may really benefit from talking to the guys
• 12:08
  at Pembac. See how many actual ounces of
• 12:11
  American Silver Eagles or whatever you might convert an IR
• 12:14
  into. See how many actual ounces of
• 12:17
  silver and or gold you get for your dollar.
• 12:20
  Between the different options, I think you'll be real surprised
• 12:23
  at what Pmbex can do for you. Let's go back to Kitco and see
• 12:30
  why they're saying gold investors are buy.
• 12:32
  Are you buying the dip? Are you buy?
• 12:34
  Are you the one buying the dip? What about silver?
• 12:36
  Are you the one buying the dip? Wait a minute, wait a minute.
• 12:41
  I'm going to look at you. My friends, I forgot the most
• 12:46
  important part of all of this. Thank you for being here.
• 12:49
  Seriously. It's your choice to be here.
• 12:51
  It's your time. It's important.
• 12:53
  You're welcome here. You're smart.
• 12:55
  You can contribute in the comments section, but I just
• 12:59
  want you to know you're always welcome here in the basement.
• 13:01
  We love one thing we have. It's nice to have things in
• 13:04
  common with people. One thing we all have in common
• 13:07
  is our love of precious metals right in this, the shared idea
• 13:12
  that we have that silver and gold will protect us.
• 13:17
  They're the ultimate insurance policy.
• 13:19
  This knowledge that we have, the gold and silver have been
• 13:22
  valuable, timeless on a timeless basis and everywhere in the
• 13:26
  world. So I want to say thank you for
• 13:28
  being here right now. Please consider subscribing to
• 13:31
  the channel. There's no cost for that.
• 13:33
  Give the video a thumbs up. That's free as well.
• 13:36
  Super chat, super thanks. PayPal donations are never ever
• 13:40
  expected, always appreciated and please don't ever donate
• 13:43
  anything more than what you can afford.
• 13:46
  And are you the one buying the dip?
• 13:50
  It appears that basement dwellers are beginning to
• 13:53
  understand the broader trend in the gold marketplace as prices
• 13:57
  remain in a fundamental uptrend, prompting them to buy on dips.
• 14:02
  Although gold ended last week down from the rent Wednesday.
• 14:06
  We had a record high on Wednesday last week, guys, woo
• 14:09
  Hoo. Yes we did it.
• 14:11
  It has managed to recover from a sharp sell off OK, maintaining
• 14:16
  solid support above $2700 per oz Ole.
• 14:21
  We love Ole Hansen. Ole Hansen, we call him Ole Ole
• 14:25
  Hansen, head of commodity strategy at Saxo Bank, said the
• 14:29
  gold's performance this week reflects growing anxiety ahead
• 14:33
  of the presidential election, which is now less than two weeks
• 14:36
  away. This was written on Friday of
• 14:37
  last week. He noted that regardless of the
• 14:40
  elections outcome, the US debt is expected to continue growing.
• 14:45
  That reminds me, I need to write that down.
• 14:47
  Don't you guys let me forget. We need to go check out the old
• 14:51
  debt clock here in a few minutes.
• 14:52
  Don't worry. Don't you worry, basement
• 14:54
  dwellers. We'll do our daily visit to the
• 14:56
  debt clock. While gold may have room for a
• 14:58
  correction the week, this week that we're in now, critical
• 15:02
  employment data adds volatility to the marketplace.
• 15:05
  That will be on Friday. This big jobs number this big
• 15:09
  make believe Unicorn fart does jobs number.
• 15:12
  And let me ask you a question. Do you think maybe just just I'm
• 15:16
  just throwing this out there for you.
• 15:18
  Do you think maybe that the powers that be, the government
• 15:22
  forces might want to make the jobs market look a little
• 15:26
  better, right? Three or four days, five days
• 15:29
  before the upcoming presidential election?
• 15:32
  Now, I'm not accusing anybody of anything.
• 15:35
  I'm just saying, wouldn't it be coincidental that if on Friday
• 15:39
  we get some unbelievable the economy created so you know,
• 15:42
  500,000 jobs and then next month, you know how it works?
• 15:47
  They can quietly say, but we're going to, but we revise that
• 15:51
  number down. I digress.
• 15:53
  In yellow, the previous four corrections in gold since the
• 15:56
  June low. All right, The previous
• 15:59
  corrections averaged 90, five U.S. dollars.
• 16:03
  In October, it was $80.00. He said he's now focusing on
• 16:07
  support. If gold's going to correct
• 16:10
  around 2685 to 2666, I never liked to see that number.
• 16:16
  Now let's talk about silver. We're going to get down here in
• 16:19
  a little bit and get into silver.
• 16:20
  James Stanley, though, from forex.com, said he expects gold
• 16:24
  shallow pull backs to remain a consistent theme in the
• 16:27
  marketplace as the Fed continues to prioritize equity valuations
• 16:32
  over fundamental monetary policy.
• 16:35
  What he's saying nicely, is that the Fed has given up on their
• 16:40
  fight on inflation. the Fed doesn't really want to fight
• 16:45
  inflation, guys. That's a big myth, a big story,
• 16:50
  a big why. I'm sorry, the Fed needs
• 16:52
  inflation. The only way, when we go out to
• 16:55
  the debt clock, and we'll reiterate this point, the only
• 16:58
  way that the system continues to work is by inflating away the
• 17:03
  debt. When you say inflate the way the
• 17:04
  debt, that means high inflation in a dollar that is going down
• 17:10
  in real value. Stanley explained the Fed has
• 17:12
  signalled an aggressive easing path.
• 17:14
  There he goes, even as inflation remains persistently elevated.
• 17:18
  But let's talk about silver in red.
• 17:20
  Important in red. But it's not just gold.
• 17:23
  Stanley noted that silver's rally with prices closing the
• 17:26
  week at a fresh 12 year high. Think about that.
• 17:32
  We're at a 12 year high in the silver price that reflects broad
• 17:37
  based strength and precious metal sector similar to gold.
• 17:40
  Silver is ending the week down from its earlier highs at $35.00
• 17:44
  an ounce. However, it did it did kind of
• 17:47
  close last week what around 3378.
• 17:51
  Stanley said that looking past silver's volatility, he expects
• 17:54
  the precious metal to trend higher as investors seek value
• 17:59
  to hedge against growing uncertainty and global Fiat
• 18:03
  currencies. OK, one last thing to talk
• 18:05
  about. Some commodities analyst has
• 18:07
  suggested that an ideal environment for gold this week
• 18:11
  would involve weak labor data coupled right with persistent
• 18:15
  high inflation numbers. Why why guys?
• 18:18
  This is this is the bomb guys? Because this scenario would
• 18:22
  under score the risk of a stagflationary environment.
• 18:27
  So, so if on Friday, OK, if on Thursday of this week we get
• 18:35
  high inflation numbers, I'm not really expecting that.
• 18:38
  I think it's 5050. But this is the this is the
• 18:41
  we're going to explain right now the perfect storm for silver and
• 18:46
  gold. If on Thursday we get high
• 18:48
  inflation numbers and then on Friday we get a low jobs
• 18:53
  numbers, OK, Now look, the government's going to be
• 18:58
  incentivized 5 days before the election.
• 19:00
  I just can't see it happening, but it could.
• 19:02
  And this would be the ideal environment for silver and gold.
• 19:06
  High inflation, OK, and bad employment numbers. the Fed is
• 19:10
  in a box, right? Remember inside this box is
• 19:15
  Jerome Powell. He is that would mean a
• 19:18
  recession, right? Because we have low employment
• 19:22
  numbers, bad job numbers on Friday, but we also have
• 19:26
  inflation, OK it with a high inflation number on Thursday.
• 19:31
  If we have inflate high inflation number, he needs to
• 19:34
  raise rates. OK.
• 19:36
  If he raises rates, that makes the recession worse.
• 19:39
  If the recession gets worse, they need to cut rates.
• 19:42
  When they cut rates, that makes the inflation worse.
• 19:45
  When the inflation's worse, they need to raise rates.
• 19:48
  That makes it's a, it's a box. It's a, it's a real conundrum,
• 19:52
  let's put it that way, that the Fed finds themselves in right
• 19:56
  now. It's a conundrum.
• 19:57
  It's called stagflation. And let me just remind you that
• 20:02
  during that you want to hear about silver.
• 20:05
  Going to $300.00 an ounce, 10X, how about 600 an ounce Guys, in
• 20:11
  the 1970s, silver went from $1.50 all the way to $50, OK,
• 20:17
  because of one thing, stagflation.
• 20:21
  And that is pretty much inevitable what we are going to
• 20:25
  be facing in this country right now.
• 20:27
  So buckle up for the next. We're going to have the best 10
• 20:31
  years ever. We are going to have the best 10
• 20:34
  years ever. Buckle up, guys.
• 20:36
  It's going to be interesting. Let's go take a look at that
• 20:38
  debt that Olay Hanson was talking about.
• 20:42
  Let's go get in a quick update. Come on.
• 20:44
  Silver and gold. Wow, you are 30 cents.
• 20:49
  Oh my gosh, guys. That's why we waited a little
• 20:51
  bit later today to do the live stream.
• 20:53
  We are just on a roll. Let's go to the US debt clock,
• 20:59
  OK? Are we there yet?
• 21:01
  Are we there yet? No, we are not to 36 trillion
• 21:05
  U.S. dollars, but look at the debt continuing to skyrocket.
• 21:08
  We do need to run over here to look at the silver to dollar.
• 21:11
  Wow, 942, the dollar to silver ratio.
• 21:15
  We've been checking that everyday.
• 21:17
  That was at 0 not that long ago, like within the last year, it
• 21:22
  was a big, big drama fest in the precious metals community that
• 21:27
  this dollar to silver ratio was at 0.
• 21:30
  Again, this measures the number of dollars created paper, you
• 21:34
  know, electronic Unicorn part does dollars created by the M2
• 21:37
  money supply right for each one ounce of silver that is created
• 21:42
  by the mining sector every single year, probably mining and
• 21:46
  recycling combined and it continues to skyrocket.
• 21:50
  All right, I know you want to to do it.
• 21:52
  Let's run out here. What was it, 942?
• 21:56
  And let's get there. There it is, the dollar to
• 22:01
  silver. Let's make sure it's gone.
• 22:02
  Yeah, it has gone up. So we will update our little
• 22:07
  spreadsheet here. Today's the 28th, 10-28-24.
• 22:14
  Look at how it has gone up. Guys.
• 22:17
  We are now at 9:42. We just, my gosh, a week ago the
• 22:23
  dollar to silver ratio was at 7:29.
• 22:27
  Today it's at 9:42. We thought that was crazy.
• 22:32
  Who knows where this could be in a couple weeks.
• 22:34
  It's getting very, very, it could go down, there's no doubt
• 22:36
  about it. But right now, what we are
• 22:39
  seeing in this dollar to silver ratio is really, really
• 22:43
  astounding. Hold on here.
• 22:46
  Let's thank you for being here. I'm going to get back to the
• 22:49
  notes, make sure we're not missing anything.
• 22:51
  Or what about Elon Musk? Elon Musk warnings.
• 22:56
  Put out a new warning. OK, That was the thumbnail for
• 22:58
  this video. What did he, what's Elon Musk
• 23:01
  warning us about? OK, our friend Elon says hold on
• 23:08
  here. There we go.
• 23:11
  Here he is. It is a financial, We are in a
• 23:14
  financial emergency. And this was the most recent of
• 23:19
  his tweets. This is from October 27th
• 23:21
  yesterday. But This is why.
• 23:23
  OK, read this. Follow along with me.
• 23:26
  Elon Musk says we have to cut government spending immediately.
• 23:30
  This is all about inflation, quote.
• 23:32
  The reality is that all government spending is actually
• 23:36
  taxation. Sometimes people think some of
• 23:39
  it is taxation and some of it is not, but it's all taxation.
• 23:44
  All government spending is a form of taxation, guys, because
• 23:48
  the part that is not covered by taxes, by tax revenue, that
• 23:53
  becomes inflation. OK, it makes sense.
• 23:56
  Doesn't this make sense? So you're either taxed directly
• 24:00
  or you're taxed by inflation. Now, this is a guy who's a
• 24:04
  billionaire, right? And you know, love them or hate
• 24:07
  them, I'm not going going there. I'm not getting political on
• 24:09
  this. But what he points out is the
• 24:11
  absolute truth. But you're cuz you're for sure
• 24:14
  taxed. And so all government spending
• 24:17
  is taxation. So we have to reduce government
• 24:19
  spending overall. This will be forced upon us in
• 24:23
  the future because already just the interest payments on the
• 24:26
  debt are 23% of all federal tax revenue.
• 24:31
  And we can see that. We can see that right here.
• 24:36
  OK, let's make this a little smaller or get over to that side
• 24:40
  right now, right? We're paying a trillion dollars
• 24:45
  in interest. The total revenue of the
• 24:48
  government is 5 trillion is what they're showing here.
• 24:50
  So that's 20%, 20% of every dollar that you pay in taxes
• 24:56
  right now. You don't get anything back for
• 24:58
  nothing, not a zip. 20% of every dollar you pay in taxes just
• 25:04
  goes to pay interest. Not to pay off the debt, no,
• 25:08
  just to pay interest on the debt.
• 25:10
  Let's look at what else Elon is warning us about.
• 25:14
  He says federal government. Here's another way to look at
• 25:16
  it. Federal government spending will
• 25:18
  bankrupt our country unless action is taken to reduce
• 25:22
  government waste. And that's what I'm concerned.
• 25:24
  Are you concerned about it? Having this conversation with a,
• 25:27
  a friend the other day like this.
• 25:30
  This is the US national debt from the year 1900 through now.
• 25:35
  I mean, just look at what the last 20 years from this section
• 25:39
  right here. This guy's this without major
• 25:43
  changes, this does not go down. And what does that mean for you
• 25:47
  as a silver and gold investor? It means one thing and one thing
• 25:51
  only, right? Is this debt becomes more and
• 25:54
  more out of control, unmanageable in the interest
• 25:59
  expense and they just have to print.
• 26:01
  They're only going to be able to do one thing unless they control
• 26:04
  government spending, which I I wouldn't really count on.
• 26:08
  We are in the last phases. Lynette Zhang, right?
• 26:11
  When I talked with her, she was like, it feels crazy right now
• 26:14
  because we are near the end of this, of this game that they've
• 26:19
  been playing. Don't forget, guys, don't
• 26:21
  forget, don't forget this. There's not much difference
• 26:25
  between this right? A Monopoly dollar in this, a
• 26:31
  paper dollar. This is valuable when the game
• 26:34
  is being played. This is valuable, right?
• 26:38
  Confidence. When you have confidence during
• 26:40
  the game that this is valuable, it has some value.
• 26:43
  Not a This is valuable when people have confidence in it.
• 26:49
  But when this gets printed into I mean, we've never you, you and
• 26:53
  I and I don't like it, right. I love my country, Huh?
• 26:57
  Where is it? There's a self waving American
• 26:59
  flags. I love, you know, there's but
• 27:01
  there's a big elephant. See him in the room.
• 27:04
  And that's the this can't work. This doesn't add up.
• 27:08
  What our government, everybody's like.
• 27:09
  Well, it always has worked. So they can just print more
• 27:12
  money. Yeah, they can print more money
• 27:15
  until that money becomes worth less or worthless, right?
• 27:19
  There's a fine line between being worth less and worthless
• 27:25
  or worth less and worthless. Are we hitting that point now?
• 27:32
  Elon has even more warnings for us.
• 27:34
  More warnings. OK, again, love him or hate him,
• 27:37
  I'm not making any kind of political statements here or
• 27:40
  anything else he says. And this one, this is a crisis.
• 27:45
  the US national debt has increased by $473 billion over
• 27:51
  the last three weeks. Right now stands at 35.
• 27:54
  Is that even up? This, this is from this is from
• 27:56
  a few weeks ago, 35.8. Hold on.
• 28:00
  Let me. I'm losing track of numbers
• 28:02
  here. Hold on.
• 28:03
  Hopefully we're still alive and you guys are with me.
• 28:05
  Here we go. Yeah, here we are.
• 28:07
  OK, we're at 35.8 trillion. That's $103,000 of debt for
• 28:13
  every American. It's like $270,000 in debt for
• 28:18
  every American taxpayer. This is unsustainable.
• 28:23
  America is on the fast lane to bankruptcy.
• 28:27
  Look at this right. Look at that was the jump in
• 28:31
  like one day in our national debt.
• 28:33
  This doesn't work. It's very simple.
• 28:38
  And there's a big reason why it doesn't work, right?
• 28:41
  It because once the debt gets so big, the interest expense
• 28:46
  becomes more and more. And This is why, because people
• 28:49
  of the world don't want U.S. debt.
• 28:52
  And are we already seeing that? Is there, are there examples of
• 28:56
  that right now? Yes.
• 28:57
  The Chinese are not buying and maybe even dumping the Saudis,
• 29:01
  the Russians, the world, the BRICS countries are selling U.S.
• 29:06
  debt now think about that just at a time when we need them,
• 29:10
  right? Cuz we've got more debt that we
• 29:13
  need to finance in this country. I, I forgive the specific
• 29:16
  number, but it's something like 10 trillion or 15 trillion of it
• 29:20
  needs to be refinanced in the coming 18 months. 24 It doesn't
• 29:24
  matter the the point here, the important thing for us to
• 29:26
  remember is of all that debt, a big portion of it constantly
• 29:31
  gets rolled over and refinanced. And if people don't want it,
• 29:35
  then then the United States government has to pay a higher
• 29:38
  interest rate on it. Remember what we looked at
• 29:41
  earlier right here, right here. Look, let's go back quickly,
• 29:47
  quickly. This is the 10 year bond yield,
• 29:50
  OK? So 30 days ago, the US
• 29:52
  government could finance part of that on they decided to sell 10
• 29:56
  year Treasuries at 3.8%. Now it's half a percentage point
• 30:00
  higher. And then as that gets bigger,
• 30:03
  the interest expense gets bigger.
• 30:05
  That makes the total debt level get bigger, which makes the
• 30:09
  interest expense get bigger, which makes the deficit get even
• 30:12
  bigger. It's a doom cycle.
• 30:14
  It's a debt Whirlpool and we are right at the point where maybe I
• 30:20
  don't know how do you feel about this, but maybe we are right now
• 30:24
  at the point where we still have barely a chance to get out of
• 30:28
  it, but it's not looking good and is as a as a the take away
• 30:32
  for anyone who invest in gold and silver is as we go through
• 30:36
  that debt Whirlpool, that debt spiral, right?
• 30:40
  Is this stuff gets printed and printed and printed imprinted,
• 30:44
  unfortunately, right, They can't print any more of this.
• 30:49
  You hear that? That's the sound of silver,
• 30:52
  right? They cannot print or gold real
• 30:55
  assets. They can't print more land.
• 30:56
  They can't print more oil. Things are changing and changing
• 31:00
  at A at an incredibly scary pace right now.
• 31:04
  And I'm so proud of you for protecting yourself, right?
• 31:07
  Or at least being open to be to learn about what's going on
• 31:10
  because it is a big deal, right? You could be making this
• 31:13
  decisions that have an impact on you and your family for years to
• 31:17
  come. Now, I'm not giving financial
• 31:19
  advice. I'm just kind of telling you how
• 31:21
  I see this situation, and it's not at all pretty.
• 31:26
  Don Indris, hold on. A regular contributor to the
• 31:37
  channel, Don Indris brought up something very interesting.
• 31:41
  OK, we got the big presidential election.
• 31:44
  That's next week, right after the presidential election.
• 31:49
  Do you think it's just just coincidence that they waited
• 31:53
  till just a day or two after the presidential election to have
• 31:56
  the big Fed meeting the big Jerome pow pow wow right it to
• 32:01
  me. Are they letting loose?
• 32:04
  Don said. Do they have some bad
• 32:06
  information? Do they know how bad things are
• 32:08
  out at really are out there in the economy?
• 32:11
  When we hear Jerome Powell talk late next week after the
• 32:15
  election, who knows what's going to happen with the election,
• 32:18
  right? If it's going to be potentially
• 32:22
  contested, is it OK to say that right?
• 32:25
  I mean by either side. But then we have the Fed just a
• 32:28
  couple days later. It's going to be interesting to
• 32:30
  see how all of that plays out. And let's talk, let's talk about
• 32:35
  Iran and gold. The country Iran, right, like
• 32:40
  enemy at this point of the United States.
• 32:42
  But I found this very interesting and I think this
• 32:45
  will resonate with you as to why you buy silver and gold.
• 32:51
  OK, this is from the Euronews, the gold rush, why Iranians are
• 32:56
  paying up to 30% more for their gold coins and why, right?
• 33:02
  There's two reasons why. And they both relate to you.
• 33:05
  They both relate to me. They both really relate to
• 33:08
  everyone in the world. But but I think us as gold and
• 33:11
  silver investors, stackers, they really relate to us.
• 33:14
  Why are Iranians paying 30% more?
• 33:18
  Says Amid rising tensions in the Middle East and the threat of
• 33:22
  Israeli retaliation, Iranians are scrambling to protect their
• 33:27
  wealth by investing in gold. The surge in demand for gold has
• 33:34
  driven up coin prices to as much as 30% above their intrinsic
• 33:40
  value, 30% above like the spot price.
• 33:43
  Basically guys with a number of factors contributing to the
• 33:47
  inflated gold coin price bubble within the Tehran market.
• 33:51
  OK, so the one reason let's, let's, we got 2 reasons, but
• 33:55
  let's, the first reason why gold is sky rocketing, there's a gold
• 33:59
  rush right now in Iran is because of uncertainty about the
• 34:05
  war, like geopolitical uncertainty, war uncertainty,
• 34:08
  however you wanna say if people are scared, people don't know
• 34:11
  what's gonna happen. So what are they doing?
• 34:13
  They're going to gold. Okay?
• 34:15
  But there's another interesting reason, which probably right
• 34:20
  now, thankfully, even more applies to you and me as silver
• 34:26
  and gold investors. OK, this kind of goes through
• 34:30
  the calculations. I didn't highlight that because
• 34:32
  I didn't really think it was that critical for us to
• 34:34
  understand how they came to this 30% premium that Iranians are
• 34:38
  playing are are paying. But it says so in orange based
• 34:41
  on yesterday's gold price. Each gold coin that they buy in
• 34:45
  Iran is $644. However, in the Tehran market on
• 34:50
  Monday, OK, so it was worth it, has $644.00 worth of gold in it,
• 34:55
  but they're selling for $860, some 30% more than its daily
• 35:01
  value in the global gold market. Let's get to the second reason
• 35:09
  why. The second reason why Iranians
• 35:11
  are running to gold, and I'm sure silver as well, is because
• 35:14
  apart from the global surge in gold prices, right, the
• 35:18
  continuous depreciation of the Iranian rial against the US
• 35:24
  dollar has caused the price of gold coins in Iran to rocket.
• 35:28
  Over the past year, the price of gold coin in rial has nearly
• 35:32
  doubled. So the other reason why Iranians
• 35:35
  are running to gold is because of inflation, because when
• 35:40
  what's the other way? What's that?
• 35:43
  What's the other way? We can we can explain inflation.
• 35:48
  It's the devaluing of the currency.
• 35:51
  So the Iranian currency is going down in value, which means
• 35:55
  inflation is going up. And people are running to gold
• 35:59
  to protect themselves, to protect their buying the gold
• 36:02
  and silver protect their buying power.
• 36:05
  So those are the two reasons why we have this massive run on gold
• 36:09
  in Iran, right? Geopolitical uncertainty.
• 36:12
  People are scared, of course, right?
• 36:14
  They're at war with with the West.
• 36:17
  Iran's at war with the West. So people like, I want gold.
• 36:19
  I don't want to, I don't when, when, when a country is at war,
• 36:23
  right? If the United States were to go
• 36:25
  into and God forbid, right? I mean, and we won't even go
• 36:28
  there but into a big war. Do you you don't know for sure.
• 36:32
  The people, honestly, the people in Iran are probably thinking, I
• 36:36
  don't if my country gets defeated, if is my money going
• 36:40
  to be worth anything, my paper money.
• 36:42
  And that's not just that's happened throughout history.
• 36:44
  Think about the people here in the United States, here in our
• 36:47
  country that lived in the Southern states during the Civil
• 36:51
  War. They had Confederate dollars,
• 36:54
  OK? They didn't have these.
• 36:56
  They didn't have green. They were called greenbacks,
• 36:58
  right? I don't think they even had
• 36:59
  these, right? This is a silver certificate.
• 37:02
  No, they had Confederate dollars, OK, And they were worth
• 37:05
  something. And had the South won the Civil
• 37:08
  War, they'd probably be worth something right now.
• 37:11
  But you know what they wound up using those Confederate dollars
• 37:14
  for after the Civil War? From what I've heard, they used
• 37:17
  them as wallpaper. They glued them to the walls
• 37:20
  because they were just paper. They were decorative, they were
• 37:23
  pretty, whatever. OK?
• 37:24
  That's what people do during times of uncertainty.
• 37:28
  They get away from the paper money because it's only Fiat
• 37:31
  paper money that's not backed by real metal.
• 37:35
  OK. It's just that it's it's it's
• 37:37
  based on confidence. I love the United States.
• 37:41
  I was born here. You lot of you that are joining
• 37:44
  today are in the same situation. But we need to be aware of what
• 37:49
  is going on in the world. So we've got a massive couple
• 37:53
  weeks ahead of us, guys. This is going to be huge.
• 37:56
  We're going to need to be here for each other.
• 37:58
  OK, OK, I've got some family matters to attend to.
• 38:02
  My schedule is going to be a little different, but I'm going
• 38:04
  to be here and I'm going to be connecting with you because we
• 38:06
  are in force. A wild ride over the next about
• 38:11
  14 days. I don't know where we're going
• 38:13
  to be sitting here. That'll be what, November 11th?
• 38:16
  It could be. We could have gold above 3000
• 38:20
  and honestly, we could have gold at 26125 hundred.
• 38:24
  We don't know. There's a lot that needs to be
• 38:27
  digested by the precious metals markets in the coming two weeks,
• 38:31
  OK, Employment data, inflation data, a presidential election, a
• 38:36
  Federal Reserve meeting and God knows what else could happen in
• 38:40
  the interim, right? I mean, it is going to be a
• 38:43
  massive period of digestion for silver and gold and for us as
• 38:49
  well. I'm not making any bets.
• 38:51
  Are you going to make some bets? Are you going to bet, make some
• 38:54
  types of bets on whether gold? My bets are made and I know that
• 38:57
  long term term, I believe, right, that the precious metal
• 39:02
  mining stocks, that the gold price and the silver price will
• 39:06
  be fine even if we get some volatility to the downside.
• 39:10
  Because remember, remember, volatility.
• 39:12
  Hold on, I'm going to draw a big fancy picture for you.
• 39:19
  Hopefully you can see this. Yeah, that's V for volatility.
• 39:24
  But as you can see, right, volatility can go up, but
• 39:28
  volatility can also go down. The key is that in the end, the
• 39:33
  net of it is that we have upward movement in these precious
• 39:38
  metals prices, which is undeniable going to happen,
• 39:41
  undeniable because look, look, here's why I know I can't help
• 39:47
  but go there again. This is why, right?
• 39:50
  Money printing this, the only thing that fixes this is
• 39:54
  printing money devaluing the dollar.
• 39:58
  We aren't going to have any new, you know, coming of age in
• 40:01
  Washington, DC when suddenly all of our politicians wake up and
• 40:05
  say, you know, we need to balance the budget.
• 40:07
  No, no, nobody's talking about it.
• 40:09
  So in the end, in the long run, we are going to be fine.
• 40:12
  And it's not just us that is talking about it, right?
• 40:15
  Elon Musk is is issuing big warnings not just about
• 40:21
  government spending, but also right in aggregate the entire
• 40:26
  debt level as well, right? These are not, not not going to
• 40:32
  be the I don't want to be negative guys.
• 40:34
  I apologize. I really do.
• 40:37
  You know, I don't want to be negative, right?
• 40:40
  I guess, you know, my job here is to assess risk.
• 40:45
  And when I look at the risk out there in 10 years, it is
• 40:48
  downright frightening. It's in terms of where we could
• 40:52
  be. I mean, just the debt.
• 40:54
  I'm not going to take you back to the debt clock, don't worry.
• 40:56
  But the debt levels as well alone are frightening.
• 41:01
  But then I don't want to double scare us.
• 41:04
  But if we look at what's going on in the world, how the world
• 41:07
  is bifurcating, how the BRICS nations that I mean, they're
• 41:11
  like 40% of the world economy are saying we want to move away
• 41:15
  from the dollar. It gets to be a real, real
• 41:20
  frightening prospect for us as we move out into these next 10
• 41:26
  years or so. I mean, it is, I don't know,
• 41:31
  right? So, yeah, the next two weeks, I
• 41:33
  mean, we all like to watch the short term.
• 41:34
  It's exciting, right? Let's go check.
• 41:37
  It's got to be down by now. Do you think the gold price or
• 41:39
  silver price is lower than the last time we checked?
• 41:42
  I'll be shocked. I'm expecting this to be lower.
• 41:45
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  silver. Make sure I got you on the right
• 42:00
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• 42:03
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• 42:09
  That's the Pendex magic button. We're going to press it and
• 42:13
  we're going to see where we are. OK, we're up $0.25.
• 42:16
  So we did, we pulled back a whole nickel in silver.
• 42:19
  Let's go out and look at the futures price of silver.
• 42:21
  And I want to look at the chart of silver as well.
• 42:26
  Hold on here, gold looking oil. Oh, we got to talk.
• 42:29
  I mean, oil's down. It's almost 5% today.
• 42:32
  I don't know what happened, what caused that.
• 42:34
  Maybe the people are perceiving a little less risk in the Middle
• 42:38
  East. But let's go to silver and see
• 42:40
  where we are in the futures market.
• 42:42
  OK, so we're up $0.21. We're at 3399.
• 42:48
  Who wants to stay on the live stream with me here until we get
• 42:50
  the $34? Come on, silver futures.
• 42:54
  There you go, 3399. Can we get 34?
• 42:58
  OK, so this was one week ago today.
• 43:03
  Looks like we peaked at 3483. But look at this.
• 43:07
  This is bizarre in that that's a three month chart.
• 43:11
  Let's even look at a one month. I mean, even this on a one month
• 43:14
  basis, guys, remember how in one in in one month, the 10 year
• 43:19
  bond rate has gone up, the DXY has gone up and even silver,
• 43:25
  right. I mean, what day was this?
• 43:27
  This was exactly a month ago here.
• 43:30
  Yeah. Well, basically exactly a month
• 43:33
  ago we were at 3160. Now we are at $34 per oz in
• 43:41
  silver. I mean, it is it is looking
• 43:44
  very. Oh man, that chart, it looks
• 43:47
  good. We're probably going to
• 43:48
  consolidate for a while. All right, we'll stay on top of
• 43:51
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  They're a great company. I own both of those stocks.
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  I am not giving financial advice.
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  OK, Mining stocks can be risky. They can go up a lot, down a
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  lot, whatever. But those are both companies
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  that I own. I only work with companies as
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  sponsors if I own the stock or in the case of pen backs, Right.
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  I've been a customer of theirs. I was a customer customer of
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  theirs before they sponsored the channel.
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  My number one relationship on this channel is with you.
• 44:53
  That's a fact. Jack Buttercup, basement
• 44:56
  dweller. Whatever your name is, you got a
• 44:58
  name. You're a unique person.
• 45:00
  It's a big deal. You're here.
• 45:01
  Thank you for being part of the basement.
• 45:03
  OK. I want you to have a great rest
• 45:06
  of your day. I'll look forward to seeing you
• 45:08
  soon. Thank you.