Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / Breaking News: Wisconsin JOINS Our Silver and Gold Movement

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Breaking News: Wisconsin JOINS Our Silver and Gold Movement · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
Everybody, welcome to the live stream.
0:04
What a big show we have tonight. It's the Sunday night special.
0:08
Thank you for being here. We got a lot to cover Wisconsin.
0:13
What did they go and do with silver and gold?
0:16
But a lot more. We're going to talk about some
0:18
scary kind of unique way to look at what's going on in the
0:23
banking sector right now. I'm hearing from more and more
0:26
people, including my friend Patrick this very morning about
0:30
troubles getting cash out of the bank.
0:33
Also, we're going to talk about the Fed.
0:35
I have ground breaking analysis about the Fed, how they are
0:41
painted into a corner and how that's good news for silver and
0:46
gold investors. But let's get started by talking
0:49
about our friends, the Cheeseheads.
0:51
Have you ever been to Wisconsin? I go there every summer.
0:54
I've been to Wisconsin many times.
0:56
I went to College in Chicago. I love Wisconsin.
0:58
One thing I hated about Wisconsin, what it was that it
1:04
is the was was. We got breaking news, big news.
1:08
And I'll tell you why it's big news.
1:11
Wisconsin was the 7th remaining state in the country that would
1:15
charge sales tax. If you wanted to convert some of
1:19
your Unicorn fart dust paper money into real money like in
1:24
the constitution silver and gold.
1:27
Yeah, if you're a cheese head and you wanted to buy or convert
1:31
some of your paper Fiat into something other than cheese, you
1:35
wanted some real cheese, right? Some silver or some gold, right?
1:39
The real cheese, you would get charged a sales tax.
1:43
Now let me tell you how crazy this is and then we're going to
1:46
and I'm going to give go through the list.
1:48
Don't you worry. I know you're dying to hear the
1:50
six remaining states. Do you live in one of the states
1:53
that charges sales tax? You're going to find out in a
1:56
little bit. But think about this.
1:58
OK, think about this. If you had this in Wisconsin,
2:02
that is should be $520 bills, OK?
2:07
Aren't they pretty? Now our eyes light up.
2:10
We're so brainwashed into thinking this is value, this is
2:13
paper. OK, if you wanted to go buy
2:16
yourself some of this in Wisconsin.
2:21
This, my friends, is real money, right?
2:24
3 silver coins. Got to find a better way to show
2:28
you that stuff. 3 silver coins, right?
2:30
Worth about $100 you would be charged sales tax.
2:34
Let me tell you how crazy that is.
2:36
OK, because that would be like taking this to your bank $520
2:44
bills and saying that you wanted to convert it into this one $100
2:51
bill in your bank telling you. OK, we can do that for you.
2:55
Mr. Basement Dweller Misses basement dweller, 'cause we have
2:58
a lot more ladies joining us here in the basement, and
3:01
they're just as welcome here as the basement men.
3:03
We got basement men, men and basement women nonetheless.
3:07
Right back on track. You go to your bank.
3:10
You want to convert this? Oh, boy.
3:14
My props are falling apart on me again.
3:16
This right? Five 20s into this and your bank
3:20
says, sure, no problem, but you need to give us another $8
3:25
because we charge sales tax When you want to convert some of your
3:28
currency from one form to another.
3:31
That's what it's like if you go to your in Wisconsin up until
3:35
yesterday breaking news, the governor signed it.
3:38
We're going to get into it. But if you would take this to a
3:41
coin shop and say you wanted to buy this 3 ounces, right?
3:49
And they say, Oh yeah, sure, we can do that.
3:53
The silver will cost you $100 and there's an 8% sales tax.
3:58
It makes no sense. This is more real money, right?
4:03
I won't even show you the paper. Then the paper.
4:07
It's ridiculous that there's sales tax on silver and gold.
4:11
Absolutely ludicrous. But let's dig into this article
4:15
really quick, because there's some good information.
4:17
I want to talk to you about Wisconsin.
4:20
Bear with me. OK, Hold on here.
4:22
Yeah. All right.
4:24
So. And, and and one of the one of
4:27
the previous basement guests, There he is right there, JP
4:31
Cortez. I had him on the show about two
4:33
months ago. He's instrumental in this.
4:36
Wisconsin formally ends sales taxes on gold and silver.
4:40
Responding to an overwhelming groundswell of grassroots
4:45
pressure, Governor Tony Evers today signed a bill into law
4:50
that secures Wisconsin's place as the 44th state in America to
4:55
end sales taxes on the purchase of precious metals.
4:58
I'm telling you the founding fathers of this country were are
5:02
still rolling over in their graves knowing that we have six
5:07
states that are still charging sales tax on precious metals.
5:11
Why is this a big deal? You say oh Wisconsin, whatever
5:14
they just say no it's another chip in the wall.
5:17
This is happening all across the country and it's not just ending
5:22
sales tax that's really just the first step.
5:25
Now we have actual legal tender legislation going on and like
5:31
there's like 20 plus states this year that are considering and
5:34
and and attempting to pass legislation to protect your
5:39
right. Yeah, I'm talking to you.
5:41
You likely live in a state that has some form of legal tender
5:46
legislation. We're going to have our friend
5:48
Pat Holland from the Missouri Freedom Initiative on the show
5:52
probably this coming week to give us a big update.
5:55
He had also been out to New Hampshire for the big
5:58
convention, Tulsi Gabbard. I mean it was a big deal.
6:01
He he'll be able to give us a great big update.
6:04
Let's read through here 'cause there's some interesting thing.
6:08
In 2023 similar bills had been introduced in Wisconsin but
6:12
failed. Started yesterday.
6:15
So congratulations cheese heads as of March 23rd you yes you do
6:21
not have to pay sales tax Quote. As inflation ravages American
6:25
families, Wisconsin is taking an important step toward re
6:29
monetizing gold and silver, a proven inflation hedge and the
6:34
only form of money mentioned in the US Constitution.
6:38
That's from our friend JP Cortez.
6:41
Everyone of Wisconsin's neighbors Iowa, Illinois,
6:44
Minnesota had already stopped taxing OK Meanwhile, other
6:48
states have been repealing the sales tax in recent years.
6:51
Mississippi last year, Tennessee.
6:52
Tennessee in 2022, Arkansas and Ohio into got it.
6:57
It is. It's crazy.
6:59
Like I said, it'd be like you going to your bank with five $20
7:03
bills, wanting to get a $100 bill and them telling you it's
7:06
going to cost you $108.00 to do that.
7:09
Silver and gold are more real money than paper.
7:16
Somebody should do a class action lawsuit and get the all
7:19
this tax money back. I mean it just doesn't make any
7:21
sense. It's crazy, Senator Strobel
7:28
said. I'm proud to have played a
7:30
leading role in the effort to finally add Wisconsin to the
7:32
long list, blah, blah, blah, he continued.
7:35
The signing of AB 29 removes a key barrier for Wisconsinites.
7:39
Oh, I'm sorry. I've been calling them cheese
7:41
heads. They're Wisconsinites and I love
7:44
Wisconsin seeking to build and protect their wealth and puts
7:47
gold and silver on an equal footing with other types of
7:51
investment vehicles. Eliminating sales tax on the
7:55
monetary metals is good public policy for many reasons.
7:59
Listen to this. Levying sales tax on prescience
8:02
metals is inappropriate. Sales taxes are typically
8:05
levied, levied on final consumer goods.
8:08
Silver and gold are not consumer goods.
8:11
Silver and gold are money, right?
8:14
They're the base of extras pyramid.
8:16
They're the oldest forms of money in the world.
8:18
You can't tax money. I mean it.
8:21
It's crazy. Studies have shown the taxing
8:24
precious metals is an inefficient form of revenue
8:27
collection. OK, Taxing gold and silver harms
8:30
and state businesses. Yes, taxing precious metals is
8:34
unfair to certain savers and investors.
8:36
Amen. That would be us basement
8:39
dwellers. It's unfair to people that want
8:42
to store wealth in silver or gold or platinum to have to pay
8:46
sales tax. That makes no sense.
8:48
That'd be like if you decided to buy a mutual fund and they would
8:54
say, Fidelity Investments would say, Oh yeah, that's great, we
8:57
can help you get into that mutual fund.
8:59
But there's an 8% sales tax for you doing that.
9:02
It doesn't it. It doesn't make any sense.
9:04
Taxing precious metals is harmful to citizens attempting
9:07
to protect their own assets. OK, here in Representative
9:12
Sortle said gold and silver can once again be used by in
9:15
Wisconsin is a the historical and constitutional currency it
9:19
has been a free People can once again possess and use a currency
9:25
not subject to the whims and policies of the federal
9:29
government and the Federal Reserve.
9:32
Wow. This guy's really, really laying
9:35
down the eggs here, which have devalued and certainly will
9:39
again, parentheses our money through inflation.
9:43
Whoa, that's repsorbed. Well, I like him.
9:46
I need to have him on the channel, right?
9:49
I mean, yeah, right. Under the best case scenario,
9:52
which is all a big lie, they're only, they only want 2%.
9:56
They only want to steal 2% of your money through inflation.
10:00
We know the reality is much, much different.
10:03
All right. We will continue fighting for
10:07
our precious metals customers in every state.
10:09
Here we go. You ready for the list of states
10:11
that still have sales tax on precious metals, Specifically
10:18
New Jersey. And don't worry, I got a picture
10:21
of the New Jersey governor, Governor 'cause he rejected a
10:24
proposal recently in his state. Maine, Kentucky, Kentucky.
10:29
That blows me away. I think Kentucky is a free
10:31
place. Is a Free State.
10:32
Vermont, Hawaii and New Mexico. OK, oh, here we go.
10:37
Similar bills are moving forward rapidly in Kentucky and New
10:40
Jersey. Within a few weeks, it's
10:42
possible that Kentucky and New Jersey could become the 45th and
10:46
46th state. So I'm going to.
10:49
I'm going to, OK, All right. More than a dozen states have
10:51
introduced pro sound money legislation in 2024 so far,
10:56
including Is Your State on this List?
10:59
This is legislation that goes way above and beyond sales tax.
11:03
Alaska, Indiana, Iowa, Georgia, Kansas, Kentucky, Missouri.
11:08
Who lives in Missouri, Idaho, Arizona, Utah, New Hampshire and
11:13
New Hampshire. Oklahoma, Nebraska, Kansas,
11:17
Vermont and West Virginia. People in New Hampshire, I
11:20
apologize. By default, I call it New
11:22
Hampshire because that's the way that it looks.
11:25
Wisconsin was tied for 45th out of 50.
11:28
Blah, blah, blah. All right, let's go back.
11:29
I want to show you guys something.
11:31
OK. That that governor in New
11:34
Jersey, we're on to you. I have a picture of him because
11:37
he already rejected this once. How can New Jersey how can you
11:40
cause. How can you charge sales tax on
11:44
precious metals? So this is the governor of New
11:47
Jersey, and that's a picture of a weasel next to him.
11:53
I'm going to offer no further comments on that one.
11:58
Hey, I really appreciate you joining me on Sunday night.
12:01
I know this is a busy time. It's dinner time, so I'm going
12:04
to be quick. But thank you for being here.
12:06
We got a lot more to cover banking crisis and and analysis
12:10
on the Fed. I'm telling you, I believe we
12:12
are in really great shape with silver and gold as we head
12:16
through the rest of the year. But please give this a thumbs
12:19
up. Subscribe to the channel if you
12:21
haven't already. We got a lot of new people
12:23
joining us. Everyone's welcome here.
12:26
You're going to find some of the nicest, coolest people in this
12:29
community on the Internet, OK? And we all love silver and gold.
12:34
So subscribe to the channel. Engage in the comment section.
12:38
We want to hear from you. Your thoughts are important.
12:42
Thank you guys for being here. I guess I can get rid of this
12:44
prop. What should I do with this
12:46
stuff? Throw it in the trash can?
12:50
Susie may not like that too much.
12:53
OK, All right. Here.
12:54
If you heard about this, have you ever heard of an ETF called
12:58
SIVR? I'm telling you guys, there is
13:02
crazy stuff going on. Not at the retail level for
13:06
silver and gold, not much in the United States, but on the
13:09
wholesale level, right, The Comex and the LBMA, the SILVETF.
13:15
But there's an ETF that quite honestly, I'd never heard of.
13:19
But we know that in the last two weeks, almost 30 million ounces
13:25
of silver have been added to this ETF.
13:28
I'm going to pull it up for you so that you can, you can be
13:31
aware I had no idea this existed.
13:34
It's called the SIVRETF, the Aberdern Aberdern Physical
13:42
Silver Shares ETF. OK.
13:45
They added in the last two weeks almost 30 million ounces of
13:51
silver. That means 30 million oz were
13:54
pulled in, right? Because they have to own this
13:57
silver and people are like what is going on to put that there?
14:02
Apparently it's in London, it's AUK based ETF.
14:06
Just to give you a bit of perspective on how much silver
14:09
that is, the US Mint doesn't even make that many American
14:13
Silver Eagles in the year. I think the last time they did
14:15
was during 2020 where we had an explosion in demand, OK.
14:20
And combine that, right, that's 30 million ounces of demand, new
14:25
demand for silver in the last two weeks with what we learned
14:28
about India in February. India importing 70, that's 100
14:33
billion oz, 100 billion out of a total mine production this year
14:39
of only 800 million. There are things going on.
14:43
Somebody what have you emailed me today?
14:45
A very smart guy who said he's been in and out of silver and
14:50
gold many times since 2008. He said right now he is all in
14:57
on silver, that he's never seen market conditions so conducive
15:01
for silver like we are experiencing right now.
15:05
We're living through it right now.
15:08
OK. It's going to be very
15:10
interesting these next five years, 10 years we could have,
15:15
OK, I know it's it's it's hard for us to fathom because you've
15:19
been beaten so, so badly over the last decades.
15:24
The last few years in particular guys could you imagine, I just
15:29
it can happen. It's OK to think positive.
15:31
I can really be a I'm a bit naturally a very I don't wanna
15:35
say negative but skeptical person.
15:37
But guys, it could happen. We could have a 10 year, A5
15:43
year, a 15 year bull run, meaning increasing prices in
15:49
silver and gold. I won't go into my 70s thing,
15:53
but remember the price of silver went up 33 times during the 70s.
15:57
Thirty three times. Not 33 percent. 33 times.
16:02
Take 25 and multiply it by 33 just for fun.
16:06
OK, And could that happen? Yes, it could happen.
16:08
Am I saying it will happen? No, I'm not saying it will
16:11
happen, but I think the odds of some huge price increases for
16:16
silver like we've seen in uranium over the last year,
16:19
right. Like we've seen we saw in
16:21
lithium at one point like we've seen in oil, we've seen oil go
16:25
from what was it negative at one point a few years ago up to
16:29
$80.00. I mean, it can happen for silver
16:33
and gold. And when you look at the big
16:35
picture involve the suppression that's occurred over the last, I
16:39
mean, it's really like a coiled spring.
16:41
It's really like that beach ball that's been held underwater.
16:45
All right, back to my notes. OK.
16:47
So the other important thing to remember recently, gold has done
16:55
well in the face of a strong dollar.
16:59
Strong dollar, right? According to the financial
17:02
world, the DXY. We know in real terms the
17:05
dollars, a piece of Unicorn fart dust.
17:08
But in relative terms, compared to the euro, in the end we've
17:11
had a strong dollar. Well, guess what?
17:13
Gold is at record highs. Gold has been pushing through
17:17
to. We had a new record high in gold
17:19
last week. And where gold goes, silver will
17:21
follow. And that's been happening in a
17:24
relatively strong dollar, right? I've got the chart that I made a
17:28
few years ago. Hold on, bear with me.
17:30
Bear with me 'cause this we need to look at.
17:32
I'm sorry. I'm not prepared.
17:34
But this we need to look at. Darn it.
17:36
Where is it now? I won't be able to find it.
17:39
Hold on. I'm here.
17:43
Here we go. This one will work.
17:47
This is not where the dollar is right now, but on this chart.
17:51
Somebody here. Let's look it up.
17:52
Let's go out here and look it up.
17:54
Hold on. We're going to look something up
17:57
together. OK?
17:58
And boom, boom. There we go.
18:02
All right, you're with me. This is Google.
18:04
And we're going to put in the DXY index.
18:10
Let's see where the dollar is right now.
18:13
Come on, computer. OK, We're at 104, so we're not
18:16
far off. There's the dollar index right
18:18
now that is high, guys, on a historic basis.
18:22
So I'm going to bring you back to me now.
18:25
And I want to show you this. This is a chart of the dollar
18:29
that starts in 1985, OK. And on this chart we were at
18:37
1:06, that's the pink line. We're at 104 now, basically the
18:41
same thing. Do you notice anything on this
18:44
chart all the way back to 1980? Like most, very rarely has the
18:49
dollar been higher than where it is today.
18:53
The dollar is high on this relative.
18:56
Again, it's all a bunch of BS, but nonetheless the dollar
19:00
relatively speaking to other currencies is going to have a
19:03
much easier time going down than it is going up.
19:08
That's the fact, that's the reality of the situation.
19:12
And when the dollar starts to drop, I've heard some people
19:14
talk about the dollar index getting down into the mid 80s
19:17
again and it's been there before.
19:19
Look, you know it's been as low as 75 down in this area.
19:25
I mean, look, the dollar index up here, one point and win
19:30
around 2000. And then just recently, it's the
19:34
only time it's been that high. If we get a 20% drop in the
19:38
dollar, a 10% drop in the dollar, it will equate the
19:42
massive, massive gains for the silver price and the gold price.
19:46
OK. Oh, I got to ring the bell.
19:50
Thank you, Susie. Hold on here, guys.
19:52
Let's ring the bell. We got 100 thumbs up.
19:55
Thank you. Yeah, you for being here today.
19:58
OK. Thank you.
20:03
That's Bell's for you 100. That's the 100 thumbs up bell.
20:07
Woo man. I I fixed our bathroom faucet
20:10
this morning. The handle wouldn't turn.
20:12
I had to take it all apart. Then I thought I broke it and I
20:15
changed the oil on the lawn tractor.
20:18
I have a cub cadet lawn tractor. I didn't change it last year.
20:20
I was like, Anna, be OK. And.
20:23
And I tell you what, anytime you work on a lawn, tractor or a
20:27
car, you're going to get covered in oil.
20:31
I digress. You don't care what I did today,
20:34
do you? Yeah.
20:37
Oh, yeah. How is the world?
20:38
This is what I wrote. How is the world?
20:42
How do you think the world's going to pay back all the US
20:45
dollar? Have you thought about this?
20:47
All the debt, right. A lot of the debt in the world
20:50
is based in U.S. dollars. Interest rates are high.
20:55
The only way the world's going to have any chance of paying
20:57
back their debt, including the United States, is with the
21:00
devalued dollar. That's the only way it works.
21:04
That's one of the secrets I got a few more big secrets I'm going
21:07
to share with you later, but that's the only way it works is
21:11
with a devalued dollar. The world will welcome a lower
21:16
dollar, and that will be rocket fuel for the price of silver and
21:22
gold. Hey, well, I got a chance.
21:24
Let's say thank you to channel sponsor Pinbex Pi MB.
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EX. Look, if you're in the market
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great customer service, right? You want to work with a company
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but the big, big bonus, if you compare Pinbex to the other
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same product at a much better price, which means you will get
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more metal for your money. Thank you Pinbex, for sponsoring
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Ron's Basement and making this live stream, making the channel
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possible. Where was I?
22:15
Let's talk about financial crisis, banking crisis.
22:18
Let's talk about what could happen.
22:20
What do you think is going to happen to Silver and Gold next
22:24
time we have a banking crisis? You know what I think?
22:26
I tell you what's going to happen.
22:28
We have a banking crisis with another financial and it'll
22:30
probably be something different. It's never what we're expecting.
22:34
But the conditions are right. You know, when they put out like
22:37
tornado warnings, I live in Saint Louis.
22:39
And this time of year, you know, they'll say, oh, the conditions
22:41
are right for tornado watch, not a warranty.
22:44
They go warning means they've spotted a tornado.
22:46
Super chat from Ron McAdams. Thank you Ron McAdams for the
22:50
Super chat. Thank you.
22:51
Cool Ken. Yeah.
22:53
No, don't joke. Cool Ken TG, thank you for that
22:56
super chat. Talk about inflation, man.
22:59
I went to the auto parts store. I bought a 5 gallon jug at 10W30
23:03
oil. I mean, I'm thinking what
23:05
happened? I remember when the stuff was
23:07
like a like, it was, it was, I don't know, it was crazy.
23:10
Everything's expensive, you know, Even AutoZone.
23:14
Oil. Everything.
23:15
Everything. Everything.
23:16
But thank you for that, my friend.
23:20
Oh, you know, this is this is exciting.
23:23
This is exciting. I'm going to tell you what will
23:25
happen when we have another financial crisis.
23:28
Come, come in a little closer there, basement dweller.
23:34
The news is, is going to spread faster.
23:37
And again, you never know. But these things always happen,
23:41
right? The news will spread faster, OK,
23:44
And the demand for silver and gold.
23:46
Because now a lot of the retail demand for silver and gold is
23:51
online. People know places like Pinbec.
23:53
You'll get the best deal, You'll get the best service, right?
23:56
People will buy, people will clear out the shelves.
24:00
Not so much at your local coin shop, although they'll be
24:03
cleared out as well. But all the big online bullion
24:07
dealers? It can happen now because of the
24:10
Internet and because of online buying, much quicker than it
24:15
ever happened in the 70s and 80s.
24:16
I've talked about that exhaustively.
24:18
But what what's going on with banks?
24:20
I talked to a very, let's say, intelligent and smart person who
24:28
knows a lot about what's going on in the financial sector
24:31
yesterday. Is there a bank crisis coming?
24:36
Do they need a crisis? Is there the sinister plan to
24:40
roll out CBD, CS and reset the system?
24:43
We don't know, but let's talk about what we do know. 2023
24:47
banking crisis Signature Bank Remember, this was one year ago.
24:51
Silicon Valley Bank, First Republic Bank.
24:54
They had 523 billion in assets. The entire financial crisis in
24:59
2008, all the banks that failed were less than what we had just
25:05
one year ago. Bear that in mind.
25:07
Everybody, including me, I'm guilty.
25:10
Everybody's talking about the BTFP program, the bank term
25:13
funding program. It expired.
25:15
It expired on March 11th. Oh, you know, we were supposed
25:18
to have a crisis by now. Oh, right.
25:21
The Sky's falling. All right.
25:23
Well, let's not forget the banks still have to deal with the
25:29
problem they had a year ago, which were plummeting values of
25:33
treasuries on their balance sheet.
25:35
And we're just moving into the meat of the commercial real
25:41
estate that needs to be refinanced by the banks, where
25:44
the banks are going to have to recognize that the collateral
25:48
for a lot of the big loans they made are bad.
25:50
That's your money that they blew on treasuries, on commercial
25:53
real estate, OK. The BTFP program was money
25:57
printing. That's gone right now.
26:01
Banks are in big, big trouble. Higher interest rates right now
26:05
for banks are a big, big problem.
26:10
First, the value of the bonds right have gone down with that.
26:14
Second, the commercial real estate loans don't work right.
26:18
Occupancy is down in these buildings.
26:20
And on top of that, the higher interest rates make the loans
26:24
not work. OK.
26:26
All the banks are in big trouble.
26:28
Hey, thank you, Snakebite. Thank you, my friend.
26:32
I appreciate that. I think we just traded emails a
26:35
little earlier today. Super nice.
26:37
Super chats are super appreciated.
26:39
But guys, the banks are in big trouble, OK?
26:43
I heard somebody say that pretty much all the banks because they
26:48
bought up all this debt at 0%, right?
26:51
They loaned all this money at 0%.
26:54
They invested in treasuries that pretty much all the banks to 1°
26:59
or another are maybe like in trouble.
27:02
I don't insolvent some of them. Now the value that debt is down.
27:08
OK, also, so we know all the big banks, right?
27:12
They all invested in these treasuries 3-4 years ago.
27:16
They all invested in things like commercial real estate.
27:19
OK, they're all in big trouble. But what makes it even scarier?
27:23
Remember, you've got the bank debt, you got the paper money,
27:26
all the synthetic money, Unicorn fart dust money out there, but
27:30
you've got quadrillions, what Warren Buffett calls financial
27:36
instruments of mass destruction. Quadrillions.
27:40
You can't even think what a quadrillion is.
27:43
Quadrillions of derivatives and all those derivatives are
27:47
somehow tied into all those bad loans and bad things that are
27:52
going on out there. It could get ugly very quickly,
27:57
but would they let it get ugly? Would there be some new program
28:01
that comes through right? I joked around and called the
28:03
crap program for commercial real estate, Commercial Real Estate
28:06
Assistance program or some other crazy thing they'll do that
28:10
will. But at the end of the day, if
28:12
they do come to the rescue, will they, are they planning a a a
28:17
horrible event that they can use as the basis from which to do
28:21
some type of reset? Or will they come flying and
28:26
right, helicopter money, right. Save the day for the banks
28:30
because those bankers need to get their bonuses and everything
28:33
right. No matter what they do, it's
28:35
going to be dilutive to the US dollar, right?
28:39
Think of the US dollar like a like a pitcher full of Jack
28:42
Daniels whiskey, right? And the Fed will come running in
28:46
and say, oh, we can save it. We can save it.
28:48
And they're going to dump another, you know, 10 trillion.
28:52
20 trillion how? Who knows how many trillion this
28:55
time to dilute the value of the dollar.
28:58
It's like dumping 2 quarts of water into one quart of a full
29:04
strength Jack Daniels whiskey. Sure, it's still kind of smells
29:07
like whiskey, but it's just not quite as strong.
29:09
You know what I mean? Does that make sense?
29:11
So yes, we still have big problems coming in the banking
29:16
sector. And let's go, you know, let's
29:18
just let's let's do our daily, our daily fun.
29:22
I'm going to take you guys. We need to check.
29:25
Let's check and see what the metals prices are doing.
29:28
OK. I don't think the market's open
29:30
yet, is it? No, or that's 2164, is that
29:35
right? I think the gold and silver are
29:37
open and trading right now. So looks like we're about flat
29:41
on gold and silver essentially. But what I really want to take
29:45
you out to is this oh our old friend the US debt clock.
29:49
Let's see what's going. We just got to make sure, look
29:53
like a week ago, guys, this number right here was 34
29:58
trillion, 500 billion. We've added like $100 billion in
30:06
debt and it feels like a week, maybe it's been a few more days,
30:09
I don't know. But I mean, yes, just to make
30:11
sure the number's still going up.
30:13
Yes, the M2 money supply is still going down, which means we
30:19
have a silver dollar to silver ratio because the M2 money
30:24
supply is going down and a dollar to gold ratio going down.
30:27
Paper to silver ratio right now is at 394.
30:33
Let's take a look. Let's take a look at what that
30:36
means real quickly. OK, if you look at the top of
30:39
the screen, the paper to silver ratio is the number of paper
30:43
silver oz traded on the major world silver exchanges divided
30:48
by the actual world production of silver.
30:52
So there's only, let's see, 395 ounces of paper make believe
30:59
synthetic silver traded for each one reel oz.
31:03
And then on top of that, you, you add in all the national
31:06
debt, all the all all the incredible.
31:10
I mean, look at credit card debt.
31:11
Oh, that's only 1.4 trillion or 8000 per household student loan
31:16
debt, 1.7 trillion, $38,000. That is sad.
31:22
That's to me. That's indentured servitude,
31:24
right? You want to better yourself the
31:27
fact that higher education has gotten so out of control?
31:30
Expensive. Totally crazy.
31:33
Total personal debt. Only 75,000 per person.
31:39
US total debt? What is that?
31:41
US total debt includes household, business, state and
31:44
local governments, financial institutions, and the federal
31:48
government. Interesting.
31:51
Wow. Absolutely crazy.
31:53
OK, I've got big news for you about the Fed.
31:58
OK? This is a big key and something
32:03
that we need to remember because everybody's so focused on the
32:06
Fed. I'm going to tell you something.
32:08
I don't think I'll, I'll eat my words.
32:11
I'll eat crow. I don't think we're going to get
32:14
lower interest rates, OK, I've. I've spent a lot of time
32:18
analyzing what's going on. I'm going to have a quick drink
32:20
of water and I'll be right back. Got to make sure I turn that
32:31
microphone back on. Guys, we are.
32:34
We don't need lower interest rates.
32:36
I don't want to break your heart, don't be brainwashed.
32:39
That's what the mainstream media want, the shore.
32:42
It would be great for silver and gold.
32:45
Short term, we don't need lower interest rates.
32:48
And I'll go out on a limb and tell you, I don't think we're
32:50
going to get lower interest rates.
32:53
I don't think we're going to get higher interest rates either,
32:56
but I got a big massive key concept you need to understand
33:01
when it comes to the fact that I think interest rates are frozen.
33:05
I think we're going to be frozen where we are maybe the lower a
33:09
little bit, half percent one way or the other raised by 1/2
33:12
percent in two years. I think we're going to be
33:15
sitting here with the exact same interest rate, and that's OK.
33:18
And we're going to be sitting here with $3400 gold and $48
33:24
silver, maybe $68 silver. And I'll tell you why right now.
33:28
OK? the Fed is all talk, right?
33:32
The Fed's not a bank. the Fed has turned itself into a public
33:36
relations firm. Watch what they're doing, not
33:40
what they're saying. OK, They're feeding a message
33:44
that, oh, we're going to cut. Oh, we're going to cut.
33:47
But they're not cutting. OK, They're not cutting, OK,
33:50
there's two big key things. the Fed cannot raise rates.
33:56
OK, I'm going to tell you why they can't raise rates.
33:58
Because if they raise rates, the stress on the consumer, the
34:03
stress on the government debt, right, we're paying a trillion
34:08
dollars a year in interest alone right now.
34:10
It it becomes over. It's already overwhelming,
34:13
right? But the stress that higher
34:16
interest rates would put on the banks, the the banks are already
34:20
in trouble. We just covered that.
34:21
So they're not going to raise rates, OK, the Fed is not going
34:25
to raise rates, but but but the Fed's not going to lower rates
34:33
either. That's what I'm saying.
34:35
I know that's not the popular consensus and that has nothing
34:39
to do with hurting the price of silver and gold.
34:42
Actually in the long run, it's going to help the price of
34:45
silver and gold as and and I'll tell you why they can't lower
34:49
rates is because inflation which is already running hot right
34:54
now, would really take off. I mean, really, really, really
35:00
take off. The only time they're going to
35:02
lower rates as we move into this next couple years is if we get
35:07
that massive correction in the market, a massive event that
35:12
slows the economy down. OK.
35:14
So right now what I'm saying is we got rates, rates are stuck
35:18
right now. This is where silver and gold
35:21
come into the picture. Rates are stuck, right?
35:25
May 5%, Inflation 3%. OK, what's going to happen?
35:30
Inflation's not going anywhere. The dollar just because of the
35:33
US debt clock alone is one way to think of it.
35:36
But the dollar is going down in value over the next 5 to 10
35:41
years. So when we got rates stuck here,
35:43
but inflation starts to inch up and up and up and up and up and
35:50
the Fed can't raise rates because it will blow up.
35:53
It'll make the spiral that we're already in even worse.
35:57
Once inflation gets about here, right, and people start to wake
36:01
up and and then inflation gets even higher up here, that's this
36:06
inflation versus rates is negative real interest rates on
36:12
an official basis. And when that happens, that's
36:16
when we see the real, real sustained bull market in the
36:22
silver and gold price like we've never seen before.
36:25
Again, do you believe that we could have a 10 year, A5 year
36:29
bull run in the silver and gold price?
36:32
I believe if you believe we could have it, I'm going to tell
36:34
you what I'm going to put my money where my mouth is.
36:37
Type 10 in the comments, OK, type 10.
36:42
Hey, while I have your attention, let's say thank you
36:45
to 1st mining Gold channel sponsor.
36:47
They make this video possible. They have a multi million, two
36:52
multi million ounce deposits in Canada.
36:55
Their development stage company right, they're getting projects
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ready for the big miners as the big miners in the next two or
37:04
three years are going to need to be refilling their pipeline.
37:07
The major mining companies, and this is good for the silver and
37:11
gold price. The major mining companies have
37:13
not been investing in their pipeline.
37:15
They're going to have to rely on smaller junior development stage
37:20
companies like First Mining Gold to provide them with projects
37:25
that they can use to refill their pipeline.
37:28
If you want to learn more about First Mining gold, you can go to
37:31
their website firstmininggold.com or you can
37:33
reach out to Paul Morris, their Director of Investor Relations.
37:36
I'll put a link to his e-mail address in the description
37:39
below. And a company that's already
37:43
mining a lot of gold and silver, Fortuna Silver mines.
37:48
They have 3 operating gold mines and two operating silver mines,
37:54
but they've also invested in seeding the company for the
37:58
future. They have a great gold
38:01
development exploration project in Senegal called Diamba sued
38:05
very exciting company. I love the management there.
38:08
I love the management at both of these companies.
38:10
Jorge Genosa, CEO of Fortuna Silver.
38:14
You can learn more about them at fortunasilver.com.
38:17
So Powell was on 6. Jerome Powell was on 60 Minutes
38:21
a while back. And you know what He said?
38:23
He says there's no easy path out.
38:26
That goes exactly with what we talked about earlier. the Fed
38:30
can't really raise rates and the Fed can't really lower rates.
38:35
It's going to be an interesting ride as we go into these next 10
38:39
years, guys. A very, very interesting ride
38:42
for those of us who've made the decision to invest in precious
38:47
metals, to invest in silver and gold.
38:50
Let's look at something fun here, real quickly.
38:55
Hold on. This guy.
38:58
This from Sky News? How'd you like to be this guy?
39:01
He's from Shropshire. Whatever that means.
39:06
He finds England's biggest gold nugget with a faulty metal
39:10
detector after arriving an hour late to the dig.
39:13
Richard Brock, who'd been metal detecting for 35 years.
39:17
OK, give a let's give this guy a round of applause.
39:20
He finally found his big nugget said that the previous bit
39:23
biggest nugget found in England weighed in at 54 grams.
39:27
The treasure he dug up was considerably larger.
39:30
Look at that. How would you like to have that?
39:33
Hey, I think it's about two oz according to my math, but he
39:38
drove 3 1/2 hours. He was late when he showed up
39:40
and when he found when he first got there he found his metal
39:43
detecting kit was not working and he had to break out an older
39:47
faulty machine. And then 20 minutes into the dig
39:52
he literally struck gold when he dug up a 660, almost 65g nugget
39:58
buried only 6 inches underground.
40:01
Dubbed Heroes Nugget, the metals believed to be the biggest find
40:04
of its kind in on English soil and is expected to fetch at
40:09
least. What is that £30,000?
40:12
I don't know. It'll be interesting.
40:14
Let's tell you what. Let's just make sure the debt
40:17
clock isn't going down. Nope, it's still going up.
40:20
But I want to go out to Kitco real quickly now.
40:24
Let's do a quick check on gold, and then we'll look at silver.
40:30
Please don't be down a lot. Please.
40:32
Hey, we're up $1.40, all right? And that is live, OK?
40:36
Yep. March 24th.
40:38
So that's good. Uh.
40:44
Oh, I think my daughter's just got home.
40:46
Sorry for the disruption. I was going to take a look at
40:49
silver as well. Guys.
40:51
Our friend Silver. Kitco Silver.
40:57
And come on, Silver, don't be down too much.
41:01
Hardly down anything. Maybe a penny.
41:03
I don't know. That's not really down point O
41:07
2%. Hold on here.
41:15
All right. Well, none the less.
41:19
All right, guys. Hey, let's go into the.
41:22
Hey, Charles Borden. Thank you for that super chat.
41:24
The the dead clock will not go down until the printer stops.
41:28
Annie Oakley, I guess I can't see the number of likes.
41:31
Can we get the 200 likes and I'll ring this guys, Huh.
41:36
The old cowbell Whoop, that wasn't a ring.
41:40
Or old friend. Joe, that would be awesome.
41:45
Hopefully you can still hear me and see me.
41:48
OK Oh, I got. I got some hate mail you
41:56
basement. Whoa.
41:57
Super sticker. Thank you.
41:59
Chris Dubois. Thank you, my friend.
42:01
Super nice of you. Thank you for that super chat.
42:05
So Phillips Baker, the CEO of Heckler Mining recently was
42:09
pointing out that 180 million ounces of silver, this is mind
42:14
blowing, that's 20%, that's 20% of the world's mining production
42:22
was used in 2023 for solar panels.
42:27
I had several people e-mail me and pointed out that that's
42:30
according to the Silver Institute and that the reality
42:35
is that last year that number could be as high, could have
42:38
been as high as 300 million ounces.
42:40
That's approaching half of the world's mining production.
42:44
Is it any wonder that Elon Musk and Tesla are investing directly
42:49
in silver mines or in one silver mines?
42:51
I think it's impact silver in Mexico.
42:54
Is it any wonder that the Chinese silver refiners are now
42:58
going directly? Is it any wonder that Andrew
43:01
McGuire, and remember, Andrew McGuire is the smartest guy in
43:05
the room when it comes to analyzing these COMEX and LBMA
43:09
situations? He's saying that we could be
43:12
months away, months possibly away from the Comex breaking.
43:17
I don't think it's, I don't think it's, it's, it's any
43:19
wonder. OK, hold on here.
43:25
What does this comment say? Yes.
43:29
OK, Susie's million at me. That means I need to ring the
43:31
cowbell. So let's do that.
43:41
All right, guys. Poor people are unable to buy
43:44
gold. All Indian politicians and
43:47
stocks more gold. So gold price should fall even
43:50
more. China should promote platinum.
43:53
OK, OK, I read that one. That was interesting.
44:00
Read the gate mail. All right, let's go down here.
44:03
All right, guys. Hey, Marshman.
44:04
Thank you. All right, guys.
44:07
Thank you for being here. Thank you for being part of the
44:10
basement. You are the most important part.
44:13
We'll be back tomorrow. I'm going to have Brian from
44:15
Mountain Bullion Entertainment joining me tomorrow morning on
44:18
the live stream. I hope you have a great
44:21
remainder of your Sunday. I appreciate you spending 45
44:24
minutes. Oh, my gosh.
44:25
I apologize for going so long of your Sunday evening with me.
44:31
Be as nice to yourself as you possibly can.
44:33
You deserve it. I promise I'll do the same thing
44:36
and I will see you tomorrow. Thank you.