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🔥ALERT - GOLD STANDARD Proposed: How it Could Affect Your Silver & Gold Price · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:01
  Welcome to the basement, Welcome to the live stream.
• 0:04
  You are a silver and gold investor.
• 0:07
  We have big, big stories to talk about today that are going to
• 0:10
  have major impact on the value of your silver and gold.
• 0:15
  We actually have even a newer development on this story
• 0:20
  regarding the Federal Reserve and the FDIC and the
• 0:23
  derivatives. A big story that came out on
• 0:25
  Friday, but a new wrinkle, a new twist in that story that we'll
• 0:29
  cover. But first, basement dwellers,
• 0:32
  let's talk about something that I think will make you feel warm
• 0:35
  and fuzzy. How does the prospect of gold 10
• 0:40
  times higher than where it is right now, $27,000?
• 0:44
  How does that sound to you? Let's go to our friend Jim
• 0:47
  Rickards and see what he has to say about that because he has
• 0:52
  some very interesting insights. Who is James Rickards you may be
• 0:56
  asking? Well, I think he worked in the
• 0:59
  Reagan administration. He worked for a lot of the
• 1:01
  intelligence communities. He's worked for the Department
• 1:04
  of Defense. This guy is for real.
• 1:07
  And he's talking about $27,000 gold.
• 1:11
  I want you to imagine maybe you don't own gold, right?
• 1:14
  I'm more of a physical silver guy myself.
• 1:18
  But I want you to imagine what would the silver price be if we
• 1:23
  had $27,000 gold? I would imagine at least 10
• 1:26
  times higher than where we are now, which would be north of
• 1:30
  3030. Thirty.
• 1:31
  Come on Ron, it is. It is zero to that $300.00 per
• 1:36
  oz. But why is he saying $27,000
• 1:39
  gold? This is not some crackpot right
• 1:43
  sitting in his mom's basement or anything like that.
• 1:45
  James Rickards is a highly respected analyst he says.
• 1:49
  I previously said the gold could reach 15,000 by 2026.
• 1:55
  My latest forecast may actually exceed exceed $27,000 per oz.
• 2:04
  I don't say that to to get attention or to shock people.
• 2:07
  It's not a guess, it's the result of rigorous analysis.
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  Of course, there's no guarantee that it'll happen, but this
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  forecast is based on the best available tools and models that
• 2:19
  have proved accurate in many other context.
• 2:22
  OK, so this is not something he just came up with out of the
• 2:25
  blue. This the tools and and analysis
• 2:29
  that he used to come up with $27,000 gold are the same tools
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  and analysis that have been used in other scenarios and have
• 2:38
  proved themselves accurate. What he says what what's what's
• 2:45
  the analysis begins with a simple question.
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  What's the implied non deflationary price of gold under
• 2:51
  a new gold standard? We're talking about a gold
• 2:55
  standard. No central banker in the world
• 2:58
  wants a gold standard, right? They have no interest in any
• 3:01
  form of money. They can't control.
• 3:04
  Still, what if they have no choice?
• 3:06
  And guys, we've talked about this before here.
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  I believe this in my soul to be the truth.
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  Do you believe it? Do you think that the world
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  could be forced like it has many times throughout history, forced
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  back onto the gold standard, right?
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  The that that gold and silver never go away as the base of the
• 3:29
  entire world financial system. We know Extra's pyramid that was
• 3:34
  developed by a former employee of the New York Federal Reserve
• 3:38
  shows it very clearly. Everything rests upon gold and
• 3:42
  silver. So you know, what if they have
• 3:46
  no choice, right? What if gold?
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  How do I say it's like, it's like gold and silver being the
• 3:51
  real forms of money are in denying that is like denying
• 3:55
  that gravity doesn't exist, right?
• 3:58
  You can fight gravity, right? You can go off the gold and
• 4:00
  silver standard for a little while.
• 4:03
  You can fight gravity for a little while.
• 4:05
  You can jump in the air. You can put an airplane up in
• 4:07
  the air, but if you remain within the atmosphere of planet
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  Earth, eventually gravity wins out, just like gold and silver
• 4:15
  will eventually went out. What if confidence and command
• 4:19
  currencies collapse due to some combination of excessive money
• 4:24
  creation? Check.
• 4:25
  Completion competition from Bitcoin, Check.
• 4:28
  Extreme levels of dollar debt? Check, check, check.
• 4:31
  A new financial crisis, war, or natural disaster.
• 4:35
  In that case, central bankers may return to gold, not because
• 4:39
  they want to, but because they must in order to restore order
• 4:43
  to the global monetary system. Does this explain why central
• 4:47
  banks are buying gold hand over fist right now?
• 4:50
  I know the PBOC, the People's Bank of China, oh, they stopped
• 4:54
  buying gold in the month of May. They didn't sell any gold, guys.
• 4:58
  They just paused, and a lot of people are saying it so that
• 5:00
  they could let the other central banks and the Growing Bricks
• 5:04
  community acquire more gold for themselves at a lower rate.
• 5:09
  What's the proper gold price? Here we go.
• 5:11
  The scenario begs the question, what's the new dollar price of
• 5:14
  gold in a system in which dollars are freely exchangeable
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  for gold at a fixed price? If we go down here, there's a
• 5:22
  lot of technical stuff in there about what's happened in the
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  past. Proving his point it says the
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  goal would be the goal would be to maintain the dollar price of
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  gold in a narrow range around the fixed price.
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  What price is just right that questions easy to answer $27,533
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  per oz for gold. He calculates that by the USM
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  one money supply which is a good proxy for everyday money.
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  That's like all the cash out there.
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  Everything else supply M1 is the supply that is most liquid in
• 5:57
  the money that is easiest to turn into cash.
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  And if you apply the 17, almost 18 trillion in money supply and
• 6:08
  back it with a 40% ratio, that $7.2 trillion worth of gold is
• 6:14
  required. If you divide that by the 261
• 6:19
  million ounces of gold that we supposedly have here in the
• 6:24
  United States, you come to 27,533.
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  He says there's room for debate about whether the 40% backing is
• 6:32
  too high or still low. The the price of gold could
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  actually be higher if they if they decided to pack it by 50%
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  gold. But guys, this is where we very
• 6:44
  well could be heading. OK, does it make sense?
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  I mean, if you think about everything going on like
• 6:51
  Rickards talked about, and again, he's no crackpot.
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  He's no guy out there just trying to get clicks on a video
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  or anything like that. What he's talking about is the
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  true natural order of the planet where gold and silver are the
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  only forms of real money. And that's been the case for
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  thousands and thousands of years.
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  What about if you want to talk about silver now for a second?
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  I got some news for you on silver mainstream media talking
• 7:22
  about silver. What does that mean?
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  Right, guys? The silver market is so delicate
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  right now. It's a delicate little flower,
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  OK? It takes very little to knock
• 7:34
  the silver market out of whack. Do do you remember what happened
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  what, a year and three months ago during that little banking
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  crisis? And we'll be talking more about
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  that later. And I do, I got, we got a lot to
• 7:46
  talk about, big stories about silver and gold.
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  OK, big stories. But remember the banking crisis,
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  You couldn't get silver. You couldn't go to your LCS
• 7:57
  local coin shop and buy silver. I went to mine and the the the
• 8:01
  cupboards were bare. They said, well, it might be six
• 8:04
  or seven weeks, but we're not sure.
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  So it doesn't take a lot if the mainstream catches on to what's
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  going on, right? And when they do and are they?
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  Let's listen to what CBS has to say.
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  And we'll run through this one quickly because you probably
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  know most of this already. But I found it very interesting
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  that of all news outlets, CBS News let me get to the very top.
• 8:30
  I need to prove there it is right there.
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  CBS News, CBS Central, whatever broadcasting system is saying 5
• 8:38
  reasons to invest in silver bars and coins right now.
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  Here's their five reasons. It's review day here in the
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  basement. This will give you the warm and
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  fuzzy about your silver. OK says while gold takes center
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  stage historically in terms of precious metals, silver can also
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  offer a unique value proposition.
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  That's because, like gold, silver has long been a hedge
• 9:02
  against economic turmoil, and there are other good reasons to
• 9:06
  consider adding it to your portfolio today.
• 9:09
  Here we go, numero Uno. There's a limited supply of
• 9:13
  silver, with few primary silver mines in operation, and
• 9:17
  shrinking the supply cannot easily ramp up to meet potential
• 9:21
  spikes in demand. This this is critical for you if
• 9:25
  you're in, and this is true for gold too.
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  But for silver, this supply, any elasticity could amplify future
• 9:32
  silver price increases if demand outpaces available supply.
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  You got to remember right, this is a, this is a, this is a good,
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  good, good, good thing for you. If you are a silver investor,
• 9:47
  the silver you cannot win the price of silver skyrockets.
• 9:51
  There's no like button they can push out there to produce more
• 9:55
  silver. Maybe just a tiny itsy bitsy
• 9:59
  teeny weeny additional amount could immediately be produced.
• 10:04
  But it's not like there's like all these big silver mines just
• 10:07
  waiting for the price of silver to skyrocket so they can press
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  the big green button, turn on the mine and start producing,
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  you know, millions of Oz of silver at the drop of a hat.
• 10:18
  No, the, the, the, the inverse of that is true.
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  Right now there's no new silver being found.
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  There's no new silver mines being built, you know, very few,
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  the amount of silver. And then we'll leave it at this.
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  Think about this guys. The amount of silver being
• 10:34
  produced every year right now, even with a $30 silver price is
• 10:40
  going down. What does that tell you, huh?
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  That when the price does skyrocket, OK, and there's no
• 10:48
  new supply that's going to be available, it could get super,
• 10:51
  super interesting #2 increasing industrial demand, clean energy
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  initiatives accelerate. All right, You know that we know
• 11:00
  that whole story. They're only using hundreds of
• 11:03
  millions of Oz of silver and solar panels, electric cars.
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  We talked about yesterday that China is now producing more cars
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  in the United States. And I think half of them are
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  electric. And we know I've heard people
• 11:15
  say, I don't want to. And this is not a don't, don't
• 11:20
  take this one to the bank. But I've heard, I thought I
• 11:23
  heard somebody say like a kilogram almost of silver in, in
• 11:27
  a lot of these electric cars. Silver's a hedge against
• 11:30
  inflation and times economic turmoil, high inflation.
• 11:34
  Investors often flock to hard assets like precious metals to
• 11:37
  preserve wealth. That's because silver and gold
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  have intrinsic value beyond the Fiat currencies and cannot be
• 11:44
  inflated by central bank policies.
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  Their limited supply also helps protect them against debasement.
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  Yes, there's no way to print silver.
• 11:54
  We've tried and tried. The gold to silver ratio is high
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  right now. It's sitting right around high
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  70s. The gold to silver ratio has
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  been a lot. It has a long term historical
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  average in the 50s. Guys, here's the deal, OK.
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  And and if you look at a chart, a long term chart of the gold to
• 12:15
  silver ratio, it is indeed closer to the 50s on average.
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  If we had a gold to silver ratio right now of 50, the price of
• 12:25
  silver would be $46 per oz. So a ratio as high as it is
• 12:31
  right now could be a sign that it's the right time to buy and
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  an opportune price. And we don't ever talk about
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  this one. I'll give CBS some news news
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  some credit for this. Silver can be used for portfolio
• 12:43
  diversification. Yes, right.
• 12:47
  If you got a bunch of stocks, you got a bunch of real estate,
• 12:49
  you got a bunch of other stuff. Excuse me.
• 12:54
  Having some money in silver can absolutely help diversify your
• 12:59
  portfolio. What about if one of the world's
• 13:02
  more famous infamous right hedge out of the hedge fund investment
• 13:08
  fund, we'll call it an investment fund, Muddy Waters.
• 13:12
  Have you heard of Muddy Waters, right?
• 13:14
  They usually short stocks. They're an activist investor
• 13:18
  type company. They'll go in and they'll say
• 13:20
  this company's overvalued. It's got to go down.
• 13:23
  Very interesting. Would it?
• 13:25
  Would you find it interesting if that same investment fund that
• 13:29
  had almost exclusively in the past only been one that would
• 13:34
  try to tear companies down in short, companies suddenly now
• 13:38
  has an interest in going long and investing in metals?
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  I find this, this is this is one of those stories that nobody
• 13:46
  else in this sector is really talking about right now.
• 13:49
  But I found this to be very interesting.
• 13:52
  You know, one of those one of those ideas that that you have
• 13:56
  to kind of be able to connect the dots to understand.
• 13:59
  Carson Block raises money to bet.
• 14:03
  OK, thank you, Susie. I'm going to get back to the
• 14:05
  Super Chad here in a second to raise.
• 14:07
  Let me start over. Carson Block raises raises money
• 14:13
  to bet on a rising metals and mining stocks.
• 14:17
  OK, they're betting on raising metal prices and mining stocks.
• 14:24
  Carson Block, who made his name betting against companies, is
• 14:28
  gathering money for a fund that will bet on rising metals and
• 14:32
  mining stocks. This came from, I believe,
• 14:37
  Bloomberg. OK, Bloomberg talking about
• 14:41
  metals. Yahoo Finance talking about
• 14:44
  metals. CBS News talking about metals
• 14:47
  soon coming to a neighborhood near you.
• 14:50
  Your neighbors asking you about medals because you're that gold
• 14:55
  and silver guy in the neighborhood and everybody, you
• 14:58
  know, I was Susie and I last night, the girls spent the night
• 15:01
  at a friend's house and we had about 1/2 hour to watch TV.
• 15:04
  We were watching that Gold Rush with Parker Schnabel show on TV
• 15:09
  and I was watching that and I'm like, this is a really popular
• 15:12
  show. It's like, I know that like
• 15:14
  hardly any Americans aren't necessarily running out and
• 15:18
  investing in gold in silver, but I'm like, this is this is proof
• 15:22
  to me. Gold Rush Alaska or Parker's
• 15:24
  Trail, whatever it was called, it's all about gold mining.
• 15:27
  And I thought this is proof that actually Americans do know, or
• 15:32
  there's at least a base level of knowledge and interest in gold
• 15:37
  in, in that in, in the future, right that I'm telling you guys,
• 15:41
  it could be a wave of people. Let me get back to this.
• 15:43
  Muddy Waters Resource Fund filed a private placement notice
• 15:48
  Tuesday with the SEC indicating the vehicle bought about 1.5
• 15:52
  million. Muddy Waters Capital, based in
• 15:54
  Austin, TX, is best known for making bearish bets and openly
• 15:58
  sparring with corporate managers.
• 16:01
  But with stock market reaching record heights, some short
• 16:04
  sellers are exploring alternate strategies.
• 16:07
  And what are what's their alternate strategy that they're
• 16:10
  exploring? Metals, mining, rising prices in
• 16:15
  silver and gold. Muddy Waters is the smartest guy
• 16:19
  in the room. OK, These are people that look
• 16:22
  for undervalued opportunities. And when they're looking at the
• 16:26
  metal sector, what they're seeing is undervalued
• 16:31
  opportunities. This is good news for us as silk
• 16:34
  because we're already there. Remember, I want to point this.
• 16:38
  I want to point something out very, very important to you.
• 16:42
  OK, Hold on. Hello, Metal sear.
• 16:45
  Thank you for the Super chat. I've always.
• 16:48
  OK, Thank you. Susie, you're early.
• 16:52
  You're early to the party. OK.
• 16:54
  There's going to be a massive, massive show.
• 16:57
  Think of it that way. The silver and gold, the
• 17:00
  precious metal mining stock show at the local theater, right?
• 17:04
  There's like 303,000 seats in the theater.
• 17:07
  You and me and you and me. Hey baby, we're going to the
• 17:11
  show. But we're those type of people.
• 17:13
  We want to get there early and we want to get the best seat.
• 17:17
  And that's just what we did. Show doesn't start till 7:30,
• 17:20
  but we showed up at 6:00 and when they opened the door, we
• 17:24
  got in there and got the best seats.
• 17:26
  That's just like you right now. Do you feel that way with the
• 17:30
  silver you've purchased? With the gold you've purchased,
• 17:33
  Right? You bought it early with the
• 17:36
  precious metal mining stocks. If this plays out like we're
• 17:39
  anticipating, guys, it's going to be a sold out show.
• 17:44
  But we're sitting in the front row.
• 17:46
  US basement dwellers, huh? We already got our popcorn, our
• 17:48
  soda. We're listening to the music,
• 17:53
  right? Sometimes it's a little painful.
• 17:55
  Our backs hurt a little bit, right?
• 17:57
  We get days like Friday when the silver price was clobbered by a
• 18:00
  dollar for no reason. Oh, man, let's talk about that
• 18:04
  real quickly. This is so this is one of those
• 18:08
  critical things that you need to understand if you're going to
• 18:10
  invest in silver and gold, OK? They manipulate the price,
• 18:15
  right? And think about what happened
• 18:16
  Friday. Nobody knows why.
• 18:19
  I mean, usually they can say, well, the dollar went up or the
• 18:21
  interest rates went up or such, and such a bad economic, good
• 18:26
  economic ABS news is what they'll blame it on.
• 18:30
  Nobody could even. I think they're exasperated,
• 18:32
  exasperated, exasperated. Anyway, you know what I'm
• 18:36
  saying? Nobody can say why, why silver
• 18:40
  got clobbered on Friday. It makes no sense.
• 18:44
  That's a sign. Crazy volatility.
• 18:47
  It's an absolute sign, right, that this system, it is so
• 18:52
  delicate, the gold market, the physical gold market, right,
• 18:56
  because of all the manipulation, but in particular, the silver
• 19:00
  market is so sensitive, so delicate, so thin, right, so
• 19:06
  leveraged. And when we're seeing these
• 19:09
  crazy volatile moves, I know, right?
• 19:12
  Like it's painful, my back hurts.
• 19:14
  Does your back hurt? My back hurts.
• 19:16
  I'm 54 years old. I've been at this 20 years.
• 19:18
  But guys, that's a sign that this system could be coming to
• 19:23
  an end, right? And and that the what I'm and
• 19:26
  I'm talking about is the paper manipulated price of silver and
• 19:30
  gold. When we've got these crazy
• 19:32
  movements that don't make any sense.
• 19:34
  They make no sense, right? Fridays, the last three out of
• 19:38
  the last, do you know this, this is, I mean, this is crazy.
• 19:43
  In three, just in three out of the last four Fridays, OK, we've
• 19:47
  had massive down downturns in the silver price.
• 19:50
  And if you add the down the, the amount of of per oz that silver
• 19:54
  went down on three of the last four Fridays, it's over $4.00 an
• 19:58
  ounce, OK, it's, it's insane. It doesn't make any sense.
• 20:03
  But you know what? That's actually good.
• 20:05
  Because we know the fundamentals are there and that that could be
• 20:10
  a sign, right? If, if a system that's been
• 20:14
  manipulated for 40 or 50 years and it has, is going to break,
• 20:19
  it's not going to break in a peaceful, smooth way.
• 20:23
  You're going to, we're going to have volatility like we've never
• 20:27
  seen. And I've been following silver
• 20:29
  closely for 20 years and I'm feeling volatility, unexplained
• 20:34
  price movements, right? Like I've never seen there are.
• 20:37
  Do you, do you feel that way? And does it make sense what I'm
• 20:40
  saying to you that if this 40 or 50 year system that's been
• 20:44
  manipulated is indeed going to break down, that it's going to
• 20:47
  break down in a very violent manner.
• 20:51
  And I think that's likely what we're having right now.
• 20:54
  What's what we're experiencing right now.
• 20:56
  Let's go to Kitco. You ready for some bad news?
• 20:58
  Look, we're going to look at both sides of the equation,
• 21:01
  right? But we're going to go to Kitco
• 21:02
  and look at an article that warns us.
• 21:05
  Warns us. Maybe all this talk about green
• 21:08
  energy and silver is just a bunch of bunk.
• 21:12
  Is that what they're saying? We're going to go check that
• 21:14
  out. Thank you, Harold, for the Super
• 21:16
  chat. You guys are being super duper
• 21:18
  generous this morning. Let's go take a quick look at
• 21:21
  the at the silver price and let's say thank you to channel
• 21:29
  sponsor Pimbex Pi MB EX. You guys know this is the
• 21:34
  company that I deal with when I buy silver and gold.
• 21:38
  One of my more recent purchases from them was this 2023 one
• 21:43
  ounce Great Britain Silver Britannia.
• 21:46
  Why did I buy the 2023? Because it's the first year with
• 21:50
  this character on it. Let me show you hold on here.
• 21:56
  Here we go. Him, King Charles the Third.
• 22:00
  And a lot of people don't like the coin.
• 22:02
  And so they, it's my understanding that they didn't
• 22:05
  sell a lot of these coins or make a lot of these coins.
• 22:07
  And it was like the first half of the year had the queen on it
• 22:10
  and the second-half of the year had King Charles on it.
• 22:14
  I'm a contrarian. To me, that's a good thing.
• 22:16
  Number one, it's the first year that they made this coin with
• 22:20
  King Charles on it #2 the fact that everybody's like, oh, it's
• 22:24
  ugly and blah, blah, blah, OK. I'm like, hey, that's great that
• 22:28
  at some point 20 years from now, people hear me saying, oh, I
• 22:32
  want to get on the first year they put King Charles on the
• 22:34
  coin. I want that coin, right?
• 22:36
  I believe that this could become more valuable.
• 22:38
  All right, that's just my opinion.
• 22:40
  Don't make any decisions. Don't buy this coin because I'm
• 22:43
  you say, oh, Ron says it's going to be more valuable in the
• 22:45
  future. What I really wanted to show you
• 22:48
  was this guys, do you know how lucky we are in this country?
• 22:53
  Look at this, OK, if you buy 500 of these coins, you can get them
• 22:58
  for $32.10 each. Now look up here and look at the
• 23:04
  price of silver. Manipulated price of silver,
• 23:07
  $29.60. If my math is correct, that
• 23:12
  means you're paying $2.50 over spot.
• 23:15
  Do you know how lucky we are in the United States to be able to
• 23:19
  buy silver this cheaply? Number one, that price of silver
• 23:23
  2960, we know that's phony. We know that's manipulated down.
• 23:28
  But #2 the premiums right now are so low, $2.50 over spot.
• 23:35
  If you lived in another country, Europe for instance, you would
• 23:41
  likely right be paying #1 higher premiums #2 on top of all that,
• 23:47
  a 20% value added tax. So to me, it's just
• 23:51
  unbelievable. And if you lived in China and
• 23:56
  you wanted to buy silver right on the Shanghai Gold Exchange,
• 24:00
  you'd be paying over a 30. That's their, that's their
• 24:02
  price, $34 per oz. OK, so we are living in an
• 24:07
  environment that is very conducive.
• 24:09
  Something else I wanted to point out about Pendeks up here in the
• 24:12
  upper right corner, just to the left of my Arrow, free shipping
• 24:16
  on two on orders that are $299 and higher.
• 24:22
  I, I don't, I've never talked about that before.
• 24:24
  And, but one of the things I love about when I get a package
• 24:26
  from Pendbex, not only do I get free shipping and if it's below
• 24:31
  that, I think it's a $10 like a flat $10 charge.
• 24:34
  So pretty reasonable, but none the less, when I get packages
• 24:38
  from Pendbex, they're always wrapped up like Fort Knox.
• 24:40
  So if you want to get yourself your hands on some gold, silver,
• 24:44
  or platinum group metals, check out Pimbex.
• 24:48
  You'll get the best prices, you'll get great selection, and
• 24:52
  it's a company that you can trust.
• 24:54
  I'm not going to tell you what to do.
• 24:56
  I'm just saying do yourself a favor, throw them into the mix
• 25:00
  next time you're out shopping for some silver, gold, or
• 25:03
  platinum group metals. And if you ever decide that you
• 25:06
  want to convert all or part of an IRA to precious metals, you
• 25:12
  can talk to them as well. You'll find they can also help
• 25:15
  you get more metal for your money with your IRA money as
• 25:19
  well. Let's go to this article from
• 25:22
  our old friend Neil's guys. Is it over for silver?
• 25:26
  Is this green tech now green, Green energy revolution really,
• 25:30
  really starting to slow down? And will that result in lower
• 25:33
  demand for silver? Can silver prices sustain
• 25:37
  slowing momentum in the green energy transition?
• 25:41
  All right, Niels, let's see. Industrial demand increases from
• 25:45
  global green energy transition propelled silver to 12 year high
• 25:49
  last month as demand has outstripped supply.
• 25:52
  Yes, yes, yes. However, this trend appears to
• 25:56
  be at risk after the World Economic Forum.
• 25:59
  Well, I'm sure we can trust those guys.
• 26:01
  Noted that momentum in the green energy transition is slowing.
• 26:06
  In a report published Tuesday, the WEF said that wow, global
• 26:12
  energy transition is still progressing.
• 26:14
  Growing geopolitical uncertainty has caused it to lose momentum.
• 26:19
  Well, growing geopolitical uncertainty also helps the price
• 26:21
  of precious metals, but I digress.
• 26:23
  The report used the Energy Transition Index.
• 26:28
  It's probably comes from our Bureau of Labor and Statistics,
• 26:33
  probably the same people that make up the they, they take
• 26:36
  magic mushrooms and make up the employment and inflation numbers
• 26:40
  every month. I digress.
• 26:43
  To benchmark 120 countries on the performance of their energy
• 26:46
  transition, The report, OK, And the current higher, basically
• 26:50
  this report came out and said that it looks like countries may
• 26:53
  be slowing down in their green energy transition efforts.
• 26:58
  The report also noted that global average ETI scores
• 27:01
  reached a record high this year, but the growth has slowed.
• 27:04
  So it reached a record high, but the growth has slowed.
• 27:09
  That doesn't necessarily that that means it's at record high
• 27:13
  and still growing, which to me would mean that there's still
• 27:17
  continued growth in the demand for silver.
• 27:21
  I'm just giving you my opinion. Silver has played in purple.
• 27:25
  Silver has played a critical role in the green energy
• 27:28
  transition as it is is essential to the production of
• 27:32
  photovoltaic solar panels. According to some reports
• 27:35
  average, the average solar cell uses roughly 111 milligrams of
• 27:41
  silver. What I've heard is 20 grams,
• 27:44
  which is about 2/3 of an ounce due to thrifting and thrifting
• 27:49
  for those of you who don't know. And this is critical for us
• 27:51
  silver investors because I'm telling you, every time you see
• 27:55
  a solar panel, you're looking at 2/3 of an ounce of silver.
• 27:59
  But thrifting is like the process that they use to replace
• 28:04
  the silver in there with other metals that are, that are cheap.
• 28:07
  They're being thrifty, OK. The amount of silver used has
• 28:11
  declined sharply. However, analysts have said that
• 28:14
  this trend has run its course, though.
• 28:17
  No more thrifting. No more thrifting for you, and
• 28:20
  the amount of silver needed is unlikely to decline.
• 28:23
  Third further. And we know that there's
• 28:25
  actually proof out there as well that the future generations from
• 28:29
  a technology perspective of photovoltaic cells are requiring
• 28:35
  even more silver. Kitco, we got news for you.
• 28:39
  Kitco News, right the what are they top con and some other the
• 28:44
  the newer and there's another one even beyond that that are
• 28:47
  requiring even more silver. Looking at the broader market,
• 28:50
  the solar power represents a massive component of the green
• 28:54
  energy transition. Investment in the sector now
• 28:57
  accounts for approximately 40% of global investment.
• 29:01
  Solar and nuclear are the future actually have a video coming out
• 29:06
  later today about solar and nuclear guys, the amount of
• 29:10
  electricity that the world is demanding and this and it's and
• 29:14
  it's and it's all has to do with silver, OK, and uranium, in my
• 29:19
  opinion. But the world because of two big
• 29:23
  things going on the technology revolution.
• 29:26
  I mean, do you know that like if you go on to Google and do a
• 29:29
  Google search, that takes energy for that to be accomplished?
• 29:34
  If you go on to one of those AI sites like ChatGPT or Microsoft
• 29:39
  Copilot or any of them, you know, and you do a, a artificial
• 29:44
  intelligence query or search, it takes 10 times as much energy.
• 29:49
  So we've got energy demands going through the roof because
• 29:53
  of technology right in the electrification, but also
• 29:57
  because we have more and more people, hundreds of millions of
• 30:01
  people every year. And in the coming 5 to 10 years
• 30:06
  that are gonna be, they're gonna be joining the consumer class.
• 30:10
  They're gonna be getting electricity in their home for
• 30:14
  the first time. People in parts of Africa,
• 30:17
  people in India, all over the world, and they want
• 30:21
  electricity, right? And a lot of that is going to
• 30:24
  come from solar because think about this and solar is silver.
• 30:28
  But think about this. If you live in a in a little
• 30:31
  house in a rural part of India, right, And you join the middle
• 30:36
  class, you join the consumer class and you want electricity.
• 30:39
  Do you think they're going to run electric wires all through
• 30:42
  the countryside to your house? No, they're going to say, hey,
• 30:46
  throw 4 solar panels on your roof, that'll generate
• 30:50
  electricity. It's, it's the, the solar is the
• 30:52
  future 'cause it's right there, it's immediate and it doesn't
• 30:56
  require, it requires a fraction of the infrastructure, right.
• 31:01
  Do you think they're going to say, oh, we're going to build a
• 31:03
  bunch of windmills, you know, 100 miles from you and the and
• 31:07
  if it's windy, we're going to generate electricity and then
• 31:09
  we're going to ship it 100 miles through copper and aluminum
• 31:14
  wires all the way to your house. You how much money that cost?
• 31:17
  No, the future is solar and solar doesn't work for now
• 31:23
  without silver. Yes.
• 31:24
  The big fear is that is that is that the solar industry is going
• 31:29
  to come up with some way to to to eliminate silver.
• 31:33
  But no one is talking about realistically about that
• 31:36
  happening anytime soon. OK, 40% of global investment
• 31:41
  demand for silver is expected to continue to increase with the
• 31:47
  Silver Institute estimating it could rise by as much as 170% by
• 31:53
  20-30. That is what's happening, guys.
• 31:57
  We got big, we're going to talk metal sear global people
• 32:01
  overlook high energy cost of Bitcoin.
• 32:03
  Yeah, that's another thing as well, right?
• 32:06
  Crypto currencies, which are I'm not anti crypto.
• 32:09
  If you like crypto, good for you.
• 32:11
  I'm not a crypto guy. But the fact remains that that
• 32:15
  the Bitcoin mining and all this mining, it takes a ton of
• 32:19
  electricity. It takes a ton of electricity.
• 32:21
  Look, look this, look at this baby, this.
• 32:26
  I love the Morgan dollar. Look at that.
• 32:32
  Isn't that just beautiful, right?
• 32:34
  That eagle on the back. This took power?
• 32:38
  Maybe. Probably not.
• 32:38
  This is from 1878. Not electricity.
• 32:41
  Who knows what they used Steam. I don't know what they were
• 32:43
  using back then. This used electricity to get our
• 32:47
  our power energy to get dug up out of the ground.
• 32:50
  OK, But once that energy was spent, right?
• 32:53
  It's no more needs to be spent. All the value is stored right
• 32:58
  here in this metal. OK guys, think about this, this
• 33:02
  will make you feel warm and fuzzy.
• 33:03
  How? You're a metals person aren't
• 33:05
  you? I am, I love the metals right?
• 33:08
  This does Bitcoin. No, look, I'm not anti Bitcoin
• 33:12
  whatever, but you know #1 it does take a ton of energy to
• 33:16
  create it, right? You know, air and I don't know,
• 33:20
  whatever it is a Bitcoin, I can't touch it.
• 33:22
  I can't feel it. But I digress.
• 33:24
  OK. And then doesn't it take
• 33:27
  electricity and and to to transfer it and move it around
• 33:31
  and run all the stuff? I mean, that's great.
• 33:34
  Great. Good for you Bitcoiners.
• 33:35
  I'm happy this it's in there, right.
• 33:40
  You know, I'm gonna tell you a story that really, really drove
• 33:43
  it home for me about metals, just metals in general.
• 33:47
  And then we're gonna talk about a lot more.
• 33:49
  We're gonna talk about this weird situation going on with
• 33:53
  the derivatives market, but a new wrinkle going on with that
• 33:56
  as well. But I was driving, I'll never
• 33:58
  forget. It was like 3 months ago, I was
• 34:00
  driving down Olive Blvd. here by my house.
• 34:04
  I was at a stop light and there was an old, really old, like
• 34:07
  Chevy Suburban in front of me. And I thought, you know, it's
• 34:10
  not going to be long and that car is going to be in the
• 34:12
  junkyard, right? And look, I'm not a not a Snooty
• 34:15
  guy. I drive both.
• 34:17
  Our cars are 10 years old, a Honda and now a Toyota.
• 34:20
  But nonetheless, I'm looking at this old suburb.
• 34:22
  I'm like, that thing's going to be in the junkyard soon.
• 34:25
  And then it hit me. It hit me and I thought, they're
• 34:28
  going to crush it up, right? They're going to crush that
• 34:31
  sucker up. And what are they going to do
• 34:33
  with it? They're going to sell it for the
• 34:35
  only thing that it's worth anymore.
• 34:37
  And that's the metal that's in the old suburb.
• 34:40
  And I thought, and that at the end of the day, that's what's
• 34:43
  worth. It's the metal, right?
• 34:46
  The car gets built, Everybody spends all their time putting
• 34:49
  all these parts and plastic together and all this crud to do
• 34:52
  with making a car and putting tires up, all that.
• 34:55
  And it has value. It provides transportation.
• 34:58
  But when it's done, the only thing, the only real value that
• 35:02
  it has left, right after they strip off whatever parts they
• 35:05
  could continue to use. But this is true even for most
• 35:08
  of those parts. The only value is the metal,
• 35:12
  right? They're going to melt it down
• 35:14
  and they're going to use it in new products.
• 35:17
  Metal, metal, metal is real and it holds value right over time.
• 35:24
  I was I I to me, that was just one of those little bit of a aha
• 35:28
  moment. Let's talk about financial.
• 35:29
  We got double whammy. Whoa, double when we what do you
• 35:34
  think? Warm and fuzzy about your metal,
• 35:36
  right 'cause it holds its value. But what do you think happens
• 35:39
  during financial crisis, during recession?
• 35:42
  I'll tell you what, gold usually goes up, what, 15 to 25% during
• 35:46
  a period of recession. Silver will do very well as
• 35:50
  well. If you heard about this thing,
• 35:52
  there's $100 million missing, right from a banking app.
• 35:58
  OK, let me let's talk about this briefly because this is
• 36:02
  interesting. This is just think about metal
• 36:05
  metals fix fixes this problem. OK, this is from CNBC nearly 110
• 36:11
  million I I was wrong there. Hold on.
• 36:13
  I'm going to get a quick drink of coffee.
• 36:14
  You have a quick drink of coffee with me as well $110 million
• 36:23
  missing from fintech. That's like the like a
• 36:26
  financial, you know, electronic tech company that's in finance.
• 36:30
  Yana's customers accounts vanished and synapse collapse,
• 36:35
  collapse, the bank says. So here's the deal.
• 36:38
  OK, I'm gonna make this real simple for you, Real simple for
• 36:42
  you Here, $110 million is missing 110 million.
• 36:49
  OK, so you got this app thing called Yadda, which I looked it
• 36:54
  up. It's like a banking type app,
• 36:56
  but it's also got like gambling involved in it.
• 36:59
  I mean, it's like what is going on?
• 37:01
  So you got Yadda, OK, I'm going to make it real easy.
• 37:04
  And then in the middle you have this company called Synapse,
• 37:07
  which was like a, what do they call it, a fintech facilitator
• 37:12
  or something like that. And then you had a bank.
• 37:16
  So there's the the crazy app, the middleman facilitator, and
• 37:20
  then a bank called Evolve Bank, the middleman who's supposed to
• 37:24
  coordinate everything. The money disappeared, so now
• 37:29
  you got all these people that had their money and yada, 'cause
• 37:33
  they could do some kind of little gambling games with it or
• 37:35
  something. I don't know it to me, I looked
• 37:37
  at it for about two minutes like this looks like like a scam or
• 37:41
  whatever. None the less, kind of kind of
• 37:43
  like some of these online trading apps, whatever, it all
• 37:47
  falls apart and and there's $100 million missing.
• 37:52
  To me, what that drives home from a gold and silver
• 37:55
  perspective is I think I'd rather have my value stored in
• 38:01
  this, right? Those are three old, good old
• 38:05
  United States of America silver dollars.
• 38:09
  I don't know. It's just absolutely crazy.
• 38:11
  Let's talk about next. Let's talk about the Fed raising
• 38:15
  rates, lowering rates. Is the Fed going to cut rates?
• 38:18
  Look, look at this and everybody says, everybody says, oh, the
• 38:21
  Fed has to cut rates for the price of gold and silver to go
• 38:25
  up. That'll be the next big
• 38:26
  catalyst. Well, look at this.
• 38:29
  This for the from the from from the Hill says the Fed must lower
• 38:33
  rates and upgrade flawed data to stay effective.
• 38:36
  So the Fed's getting all this pressure right.
• 38:39
  Jerome Powell, chairman of the Federal Reserve Board, announced
• 38:42
  last week that the board has decided to keep the discount
• 38:45
  rate unchanged despite cooling inflation data, blah, blah,
• 38:48
  blah. This was a grave mistake that
• 38:51
  will perpetuate the depression in the housing sector.
• 38:55
  Those are some strong words, right?
• 38:58
  So we've got newspapers now putting out articles saying if
• 39:03
  the Fed doesn't, the Fed doesn't lower rates soon.
• 39:06
  We're we're having a depression in the housing sector.
• 39:10
  Do you think we're having a depression in the housing
• 39:12
  sector? I don't know.
• 39:13
  Furthermore, the longer the Fed waits to cut rates, the faster
• 39:18
  and longer Powell will have to ease rates by this fall, which
• 39:23
  coincides with the presidential election.
• 39:25
  That could make the Fed an unintentional pivotal political
• 39:29
  factor. To obviate this argument, the
• 39:32
  Fed should start cutting rates in its upcoming July meeting.
• 39:36
  Guys, I got news for you and let me, let's just see because, you
• 39:40
  know, yeah, I think that's all I wanted.
• 39:43
  There's a bunch of bunch of, excuse my language, a bunch of
• 39:46
  gobbledygook after that. Look, look, if you invest in
• 39:53
  silver and gold, it's real simple.
• 39:56
  The whole Fed rate situation is really just a bunch of noise
• 40:02
  because I got news for you, the Fed doesn't.
• 40:05
  And I said this four or five months ago.
• 40:07
  I said I thought the Fed was not going to raise rates.
• 40:10
  And I'm not, I'm not bragging, but I was right about that,
• 40:13
  right? And I still think there's a real
• 40:15
  good chance that the Fed may not lower rates.
• 40:19
  I'm sorry if I said that. OK, Sounds good.
• 40:23
  Hey, how about some thumbs up, guys?
• 40:25
  And then we'll ring that cowbell for 200 thumbs up.
• 40:28
  But I want to stay on this, on this idea that oh, the Fed's got
• 40:31
  a lower rates for the gold and silver price to go up.
• 40:33
  The Fed's got to cut rates when the Fed.
• 40:35
  And yes, if the Fed does cut rates, it will be very, very
• 40:40
  good for the silver and gold price.
• 40:42
  But, and it's a big but, and I know you like big butts like me,
• 40:48
  the big butt is this quite simply, the Fed, if even if they
• 40:53
  don't lower rates, what we're gonna see is inflation going
• 40:58
  higher and higher and higher. So think about this.
• 41:02
  If the Fed leaves rates where they are and they know that
• 41:06
  inflation is going to even officially, even though it
• 41:11
  already is right now, but officially overtake the interest
• 41:14
  rate level, that's the same darn thing as them cutting rates,
• 41:18
  right? That's six or six or one half
• 41:20
  dozen the other. So does that make sense?
• 41:24
  Like if we have rates at 5% and, and the inflation rate goes back
• 41:29
  up to seven or 8%, well, that's the same thing as being at at 5%
• 41:35
  rates right now with 3% in inflation.
• 41:39
  It really is 6 or one half dozen the other.
• 41:43
  And at the end of the day, it, it truly is synthetic make
• 41:47
  believe smoke and mirrors, Unicorn fart dust, however you
• 41:52
  want to say it, slice it or dice it, it doesn't matter.
• 41:55
  OK, I, I, I will continue right. And you know who knows this if
• 42:00
  you heard about the BRICS countries, the, the BRICS
• 42:02
  countries know they are calling the bluff of the United States.
• 42:07
  We've got a massive, massive bricks meeting coming up later
• 42:11
  this summer in Russia. Russia.
• 42:15
  Remember Russia, that country that remember their leader,
• 42:19
  Vladimir Putin? We were told two years ago that
• 42:21
  he was going crazy, right? Well, that crazy leader of
• 42:26
  Russia, he just went and met with the crazy leader of North
• 42:29
  Korea, Kim Jong Un, remember? He was.
• 42:32
  Isn't it funny? Remember.
• 42:34
  OK, all right, hold on. I'm gonna ring the cowbell for
• 42:37
  the basement dwelling. That's for 200 thumbs up.
• 42:45
  Remember two years ago, the mainstream CNN and boxing it,
• 42:49
  all of them, they're all saying, oh, something's wrong with
• 42:52
  Putin. Look at him.
• 42:54
  He won't. He sits at the end of a table.
• 42:56
  We think he's sick. We think he maybe he's going
• 42:58
  crazy. We're not sure they did the same
• 43:01
  thing about Kim Jong Un. Remember, it was like four years
• 43:03
  ago, they were like, oh, we think he's dying.
• 43:06
  We haven't seen him for three months.
• 43:08
  We think he's going crazy. Well, the crazy leader of Russia
• 43:11
  just went and met with the crazy leader of North Korea and they
• 43:15
  came up with a crazy treaty in agreement to, to, to, to even to
• 43:22
  even make, to make their relationship even closer and
• 43:25
  stronger. OK.
• 43:27
  And then that crazy leader of Russia, he went to Vietnam and
• 43:32
  met with them and they signed some big agreements, right?
• 43:35
  All kinds of agreements. So as, as we look at what's
• 43:39
  going on out there, right, these BRICS countries then and those
• 43:43
  and the crazy people in China, China bad, China bad, right?
• 43:48
  Well, they're, they're doing, I mean, they're all waiting.
• 43:51
  They're all, they all know, they all know what's going on with
• 43:55
  the US dollar. They know what's going on with
• 43:57
  the US debt and deficit. And it's not a good thing.
• 44:01
  We're going to have stagflation. I won't go down that path with
• 44:04
  you because we've talked about that too many times.
• 44:05
  But man, oh man, are we going to have a stagflationary
• 44:10
  environment. OK.
• 44:12
  On top of that, we got big problems in Japan and we're
• 44:14
  going to talk about this derivatives mess here in a
• 44:17
  second. Big news in the silver and gold
• 44:21
  arena and and think, uh oh, hold on, where'd it go?
• 44:26
  Oh no, I lost my notes. Oh, well, we can do it off the
• 44:31
  cuff. That's why it's a live stream,
• 44:33
  guys, Right, right. But big news out of Japan that
• 44:37
  could, could send serious, serious shock waves throughout
• 44:42
  the financial sector, right? Derivative oriented stuff that's
• 44:45
  going on right now. All right, hold on here.
• 44:53
  All right, Yeah. Here, let me pull this one up
• 44:56
  for you quickly. And this shows you just what is
• 45:01
  happening. Bricks.
• 45:03
  Another country announces plans to ditch the US dollar, right as
• 45:09
  the Bricks block continues to embrace D dollarization on a
• 45:13
  global scale. Why is that important to you as
• 45:16
  a silver and gold OD dollarization?
• 45:19
  It's just a term, right? No, no, this is happening on a
• 45:24
  global scale right now. People are selling the dollar.
• 45:30
  They're selling U.S. Treasuries.
• 45:32
  It's not like some immediate, oh, tomorrow we're going to wake
• 45:35
  up and everybody's going to ship all that.
• 45:36
  No, it's a process, but it's absolutely going on.
• 45:40
  Goldman Sachs talks about it. JP Morgan's talked about it.
• 45:45
  Everybody's, even the even the Treasury Department's talked
• 45:48
  about it. The feds talked about it.
• 45:49
  This is happening right now. The dollar is losing its
• 45:54
  dominant status, hegemony status in the world, right?
• 46:00
  It's still the world reserve currency, but it's more and
• 46:03
  more, right. What about the Petro dollar?
• 46:06
  We know that whole big story is the world needs the dollar less
• 46:11
  and less. Guys that they ship those
• 46:13
  dollars back, that means there's more and more of a supply of
• 46:17
  dollars whenever there's an oversupply of anything, right?
• 46:22
  I don't care if you're talking about eggs at the grocery store,
• 46:25
  milk, meat, oil, anytime, anything.
• 46:29
  Silver, gold or dollars, if there's an oversupply of
• 46:35
  anything, the price drops. That's the way.
• 46:38
  And at the end of the day, the dollar cannot avoid the free
• 46:41
  market, the free market forces that will control.
• 46:45
  And when the value of the dollar drops, the value of your silver
• 46:49
  and gold will go up. OK, yet another country has
• 46:53
  announced plans to ditch the US dollar.
• 46:56
  Vietnam is the latest nation to abandon the greenback for
• 46:59
  international trade after a recent agreement with the
• 47:02
  Economic Alliances 2024 chair Russia.
• 47:07
  All right, here. Look, Russia President Vladimir
• 47:12
  Putin left his crazy house and visited Vietnam this week and
• 47:16
  signed a dozen agreements with the country's government.
• 47:20
  I thought the I thought the ruble was rubble.
• 47:23
  I thought that Russia was done right.
• 47:26
  Among those agreements is an initiative to settle bilateral
• 47:30
  trade dealings in local currencies.
• 47:33
  That means they don't need dollars.
• 47:36
  That means those dollars come back to the United States of
• 47:40
  America. That means an oversupply of
• 47:42
  dollars. That means the dollar goes down
• 47:44
  in value. The visit is one of many that
• 47:48
  Putin has made this week following his recent landmark
• 47:53
  trip to North Korea. For the first time in more than
• 47:57
  12 years. This is happening, guys, right
• 48:00
  in front of our very eyes, right?
• 48:03
  Look, think about this. Think about this.
• 48:06
  The amount of spending, I want you to just consider this, the
• 48:10
  amount of deficit spending that the United States government is
• 48:14
  doing right now, right now, right now, like you and I, we're
• 48:19
  live, we're in the basement and I'm so glad you're here.
• 48:22
  Thank you. I'm going to beg one time and
• 48:24
  there's my stitches. Don't try to fix your washing
• 48:28
  machine by yourself. Please give this a thumbs up.
• 48:31
  Please subscribe to the channel if you haven't already.
• 48:33
  And don't forget, go check out coin shop Chris and his new
• 48:36
  channel as well. There's a link to that in the
• 48:38
  description. But but guys, this this
• 48:42
  situation that we're living through right now is like
• 48:45
  nothing that we've really ever been through in recent history.
• 48:51
  OK, it's happening right now right before our very eyes.
• 48:56
  The amount of spending, deficit spending, the overspending that
• 49:01
  our government is doing. There was an article here.
• 49:04
  Let's just look at the well the spending ought to write it down.
• 49:07
  So I don't forget. That's what you get for being
• 49:09
  live with Ron and I got big a new wrinkle in this derivative
• 49:13
  blow up. Are they telling us there's a
• 49:15
  financial crisis coming? That we're going to we're going
• 49:17
  to wrap up on that point. This is big, big hot, hot news.
• 49:22
  OK, OK, but here, let's go out real quick.
• 49:26
  Let's go for a trip on the Internet together.
• 49:29
  Here we go basement dwellers and let's go here.
• 49:33
  Oh, shoot, bear with me. All right, go to Gmail and we'll
• 49:41
  go to. Where is it?
• 49:45
  Here we go. This article from Fortune.
• 49:49
  Hopefully it'll it'll won't put up a thing.
• 49:54
  Jamie Dimon believes. OK.
• 49:56
  He's the CEO of JP Morgan Chase. Oh, shoot.
• 49:59
  See it did it? Hold on.
• 50:03
  Here we go, Jane. There we are.
• 50:07
  Jamie Dimon believes US public debt is the quote most
• 50:11
  predictable crisis the economy faces.
• 50:15
  And yet in just three months, America has added 2.1 trillion
• 50:20
  to its tab. Right now, Right now is you and
• 50:24
  I are meeting here in the basement, OK?
• 50:27
  People think it doesn't. You know, we are living through
• 50:31
  some major, major changes. OK.
• 50:35
  I know anytime there's been major change, a lot of the
• 50:39
  people don't understand that it's really going on.
• 50:42
  The amount of deficit spending that our government's doing, the
• 50:45
  amount of debt that our government has has only been
• 50:48
  matched in history during times of World War or depression.
• 50:56
  Are we in a World War? Ask yourself that question, OK,
• 51:01
  Europe, the Middle East, Asia, situations there.
• 51:06
  Are we in a depression, right? And, and I've heard, I heard
• 51:09
  somebody say this the other day. And how do you feel about this?
• 51:12
  But somebody, and it resonated with me, it said, yes, if you're
• 51:16
  a part of the middle class, if you're a part of the, of the
• 51:20
  working class in the United States, it sure the heck feels
• 51:24
  like you're in a depression. You're struggling to put food on
• 51:27
  the table. You're struggling to put clothes
• 51:29
  on your kids. You're struggling, right?
• 51:31
  Just to, just to make ends meet. We know the statistics. 60% of
• 51:36
  people can't afford a $500 emergency expense or whatever
• 51:39
  the case is. So this is going on right now.
• 51:43
  It's, it's, and it's getting very ugly.
• 51:45
  Now, let's talk about big breaking news.
• 51:48
  To me. It was breaking news.
• 51:49
  And I know you guys were keenly interested in this as well.
• 51:55
  But on Friday, I'm gonna pull this up quickly 'cause there's a
• 51:58
  new wrinkle in this story. Yup, wrong one.
• 52:03
  Where'd that go? Here we go.
• 52:05
  On Friday, CNBC broke a story about regulators, right.
• 52:10
  The FDIC, the Federal Reserve hit Citigroup and JP Morgan.
• 52:16
  Citigroup, JP Morgan Chase, Goldman Sachs and Bank of
• 52:20
  America. Aren't those like for basically
• 52:23
  for the big biggest or bigger banks in this country?
• 52:27
  Definitely the bigger and definitely for the banking
• 52:29
  regulators on Friday disclosed they found weakness in their
• 52:33
  resolution plans. Basically the FDIC and the
• 52:38
  Federal Reserve came out and said, hey, we got big problems
• 52:43
  with these four big banks and how they could, how they would
• 52:46
  unwind their derivatives portfolio in the event of
• 52:51
  economic stress. Think about this, why did they
• 52:55
  put that out on a Friday afternoon?
• 52:57
  And we got a new wrinkle to talk about in this one.
• 52:59
  OK, guys, why did they put that out on a Friday afternoon?
• 53:04
  And or do they see something coming, right?
• 53:08
  You know how big this derivatives market is?
• 53:11
  Some people say it's as high as AI don't know a quadrillion,
• 53:14
  like 1000 trillion. Some people say 3-4 quadrillion,
• 53:18
  you know, and let me let me a thousand, 1000 trillion, OK, and
• 53:23
  one trillion is 1000 million. I mean, it's it's mind boggling
• 53:27
  and the banks have no idea. Nobody really knows for sure
• 53:32
  what the value of the derivatives are that are out
• 53:34
  there. Warren Buffett calls them
• 53:36
  financial weapons of mass destruction and everything else.
• 53:40
  But but think about this, OK, I found my notes.
• 53:45
  Think about this. On top of that, we've got this
• 53:49
  big news that came out late last week and through about a bank in
• 53:54
  Japan, a big bank and 800 billion, 800 billion.
• 53:59
  Well, anyway, big bank, Noren Chukin Bank.
• 54:03
  Let's look up. I want to make sure I get that
• 54:05
  right. Is it 800 billion or 800
• 54:08
  million? Hold on one second.
• 54:11
  Noren Chukin Bank. No, about the Noren Chukin Bank.
• 54:28
  Well, they sent out a big, a big, big.
• 54:30
  Yeah, it must be 800 billion. All right, hold on here, guys.
• 54:34
  I'm back. So 800 billion, I've $800
• 54:37
  billion bank. OK.
• 54:39
  They put out a big alert last week that they have to sell $63
• 54:44
  billion worth of their treasuries, that they're in the
• 54:47
  same situation like Silicon Valley Bank.
• 54:49
  And when we had our banking crisis here in the United
• 54:52
  States, they also are all these derivatives, right, that the Fed
• 54:58
  and the FDIC warned about with the four big U.S. banks not
• 55:02
  being able to effectively unwind their derivatives portfolios.
• 55:06
  They're they're they're absolutely involved in that
• 55:10
  market as well. And this bank is sending out a
• 55:13
  warning sign like we are in trouble.
• 55:18
  Oh, my gosh, Metal Sear, you're being too much.
• 55:21
  You're being too, too generous. Thank you, Metal Sear.
• 55:24
  Wow. Hold on a second here.
• 55:27
  Let's pull him up. There he is, Metal Sear.
• 55:32
  You're going to join us for the rest of the live stream.
• 55:35
  Is there something big about to happen?
• 55:37
  That would be my question, right?
• 55:40
  Why on Friday does the Fed and the FDIC put out this news
• 55:46
  release that, oh, we are chastising the four biggest
• 55:51
  banks, JP Morgan, Goldman Sachs, Bank of America, that they,
• 55:54
  they, they don't, they don't know what they're doing
• 55:57
  regarding their derivatives. They don't even know how many
• 56:00
  derivatives they have. I searched and searched.
• 56:02
  I spent hours yesterday trying to figure out what's the size of
• 56:06
  the derivatives market. Nobody really knows.
• 56:09
  We know what Warren Buffett said, right?
• 56:11
  These are financial, financial instruments of mass destruction.
• 56:16
  They're like nuclear bombs, right?
• 56:18
  They're bets on bets. OK, right.
• 56:21
  We know that that's going on. Does this have something to do
• 56:25
  with this Japanese bank that's maybe, possibly gonna be going
• 56:31
  belly up? They have to sell 63.
• 56:35
  All right, a few more lights, guy, Thumbs up and we'll do the
• 56:38
  gong. Even with the with my hands
• 56:40
  stitched together. Is that what's going on?
• 56:43
  Is there something big about to happen?
• 56:45
  I'm just throwing it out there, OK.
• 56:48
  I mean, but is this a situation where we're going to look back
• 56:51
  in three or four weeks or three or four months and say, oh, now
• 56:55
  we know why the Fed and the FDIC put out this big warning because
• 57:00
  of the derivatives market blows up.
• 57:02
  Katie, bar the door. OK, Katie, bar the door.
• 57:07
  We did. I did some calculations with Pat
• 57:09
  Holland from the Missouri Freedom Initiative.
• 57:11
  I don't know, it was like 8 weeks, 9 weeks ago where we, we
• 57:14
  saw that like based on what you estimate the size of the
• 57:18
  derivatives market to be, it's like if you take 1%, just 1% of
• 57:24
  that derivatives market. Let me show you this.
• 57:26
  All right, always our favorite. Thanks again.
• 57:30
  That'll sear. Hold on.
• 57:34
  It wouldn't be a live stream if we didn't look at this guys,
• 57:38
  'cause this is our, this is Our Calling card.
• 57:42
  Exeter's Pyramid, which was developed by a New York Federal
• 57:48
  Reserve official, OK, who died not too long ago.
• 57:52
  And he was a big proponent of gold and silver.
• 57:56
  If just 1% of this and don't forget down there in the bottom,
• 58:00
  gold and silver, those are the only real things on this upside
• 58:04
  down pyramid. Everything else that rests on it
• 58:07
  is synthetic man made Unicorn fart dust.
• 58:11
  OK, And then when you get up here to the derivatives, well,
• 58:15
  those are bets on a lot of this other stuff down here we talked
• 58:18
  about yesterday while this is real.
• 58:21
  OK, you can't see my cursor, I don't think.
• 58:23
  Look at the gold and silver. That's real, right?
• 58:26
  Go ahead. You can touch your silver.
• 58:28
  You can touch your gold. Right now, everything above the
• 58:30
  gold and silver is synthetic Unicorn fart dust, right?
• 58:35
  But if you get up to the very top, the derivatives which are
• 58:38
  bigger than everything, those are based on everything below
• 58:44
  it, right? Those are based on bank money
• 58:47
  base. All the other stuff that's gone,
• 58:49
  the derivatives are like double Unicorn fart dust.
• 58:52
  And if just 1%, what gong? OK, thank you.
• 58:58
  Thank you, Susie. I'll ring the gong in one
• 59:00
  second. If just 1% of that derivative
• 59:02
  money were to flow into the silver and gold market, it would
• 59:07
  be like 3X the amount of money in gold.
• 59:11
  It would be crazy, guys. It would be absolutely crazy.
• 59:15
  Now, this is one of my favorite things to do with you right,
• 59:18
  basement dwellers is to ring the gong.
• 59:20
  We got 300 of these suckers thumbs up.
• 59:24
  OK, I'm gonna get the gong. You wait right there.
• 59:27
  The golden gong. And let's all think happy
• 59:34
  thoughts about silver and gold over the next six months as I
• 59:38
  ring this thing. It it, it definitely resonates
• 59:49
  as I hit it right. If we look back at the one more
• 59:57
  thing I want to mention to you, when we look at the US economy
• 59:59
  and the world economy, we've got more zombie companies than any
• 1:00:02
  other time. You aren't a zombie.
• 1:00:04
  You're a basement dweller. 600 people joining us on a Sunday
• 1:00:08
  morning. How awesome.
• 1:00:10
  OK, I hope for you that you're nice to yourself today.
• 1:00:14
  I'm telling you. To the extent that we can be
• 1:00:17
  nice to ourselves, it helps us be even more marginally,
• 1:00:21
  incrementally nice to other people.
• 1:00:23
  It's a big deal that you join us.
• 1:00:26
  OK, Susie and I thank you. Thanks to our sponsors, right
• 1:00:30
  Pinbex. You can check them out at
• 1:00:31
  pinbex.com, First Mining Gold, firstmininggold.com and Fortuna
• 1:00:38
  Mining. New website, new name, same.
• 1:00:42
  Great company. Thanks a lot guys and I'll see
• 1:00:45
  you soon.