Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨SHOCKING🚨 Banks and USA On The Brink!... Silver Price and Gold Price Implications

Transcript

🚨SHOCKING🚨 Banks and USA On The Brink!... Silver Price and Gold Price Implications · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
Silver and gold investors, we have some bad news to cover, but
0:03
we have some good news as well, which will make it crystal clear
0:08
why we will get $2500 gold this year.
0:12
Yes, 2024. At least it sure looks that way.
0:16
And who knows how high that could drive the silver price.
0:20
We're going to talk about some crazy information about the
0:22
commercial real estate bubble that's right now in this
0:26
country. Bankruptcies taking off.
0:30
We got a little information about Costco and gold.
0:33
We're going to cover that as well.
0:35
But let's start out by talking about the bad news.
0:39
OK? The bad news.
0:41
Look, are we in a bubble? Are we in a bubble?
0:47
Bubble that spells trouble, trouble, but will spell good
0:51
news for the price of silver and gold, right?
0:55
That's why you've bought silver, that's why you bought gold.
0:57
To protect yourself against potential calamity.
1:01
And I just want to remind you of something, right?
1:03
I know it feels like. And when I talked with Lynette
1:05
Zang a few months back, she said it feels crazy.
1:08
I know it feels crazy because, excuse me, when things are about
1:13
to break, it starts to feel a little crazy out there.
1:17
And I want to remind you, I don't know how old you are, OK?
1:21
But I'm 53 years old. I've lived through the tech
1:24
bubble. I was a young man.
1:26
I worked in the tech industry from 1995 through, well, I don't
1:30
know, 20 years or so. I own my own company at the end,
1:33
but during that period of 95, through about the year 2000, it
1:38
was crazy in the tech field, everything was great, everything
1:41
was wonderful. Everybody was getting rich.
1:43
Everything was great until it wasn't great.
1:47
Are we in a period like that right now where everything's
1:50
fine? Right.
1:51
Everything. The house prices are good,
1:53
they're done, employment's great, everything's great.
1:56
But the warning signs are everywhere, right?
2:00
What about 2008, the other major crisis that we had in this
2:04
country? I remember that as well.
2:06
I was running my own business. I had an office and there were
2:08
all these mortgage broke break, bro.
2:10
I don't know what they were doing.
2:12
Mortgage guys that were renting offices near me in this very
2:16
nice city place in Saint Louis, high end, sophisticated office
2:20
complex, right. Companies like Microsoft and you
2:24
know, expensive high rent, top of the line.
2:27
And all these guys were renting all this office space around me
2:29
and I would overhear them talking about these real estate
2:32
deals they were doing. They were all making money.
2:34
It was all great until it wasn't.
2:37
Are we facing that similar type situation right now?
2:41
And when that happens, right, what have we learned?
2:44
After the tech bubble burst, the price of gold and silver
2:47
skyrocketed. After the mortgage crisis, the
2:51
great financial crisis of 2007, 2008, the price of silver and
2:55
gold skyrocketed. Are we in that same situation
2:59
now? But are we in it at an even more
3:02
extreme level? The E word, not extreme.
3:06
No escalated. I heard somebody said everything
3:10
has been escalated, Everything's bigger.
3:12
The Fed's going to have to respond faster and bigger with
3:16
new and more creative acronyms. No more QE.
3:19
They'll have whatever they want to call.
3:21
They'll make up stuff. I'm using good words, 'cause
3:25
this is a family show and I appreciate you being here.
3:28
Please give this a thumbs up. I'll beg you two more times.
3:31
But I'm going to beg you right now.
3:33
It looks like my thumb. You press the button, it's free
3:35
and it helps. Helps get the word out to more
3:38
people. OK.
3:38
So thank you for that. Now, are we in here?
3:42
Let's just let's just run through this.
3:44
We America. Are you in America or are you in
3:48
a foreign country? Doesn't matter.
3:50
Foreign to America. America is a foreign country to
3:53
you if you live in a different country.
3:54
But nonetheless, congratulations, America.
3:57
Yes, amongst Joe Biden's many accomplishments like being the
4:03
lowest approved President in the history of the world at 37%.
4:07
I digress. He's also accomplished racking
4:12
up now $34 trillion in debt here in the United States.
4:17
And I was listening to this guy, Jim Willey, Doctor Jim Willey,
4:20
the other night. He's put throughout the idea
4:23
that quite possibly we're already in default. the United
4:28
States, like, cannot pay its bills.
4:30
I mean, realistically, we can't pay our bills because we're
4:34
spending more. We're borrowing more every year
4:36
with the over $1 trillion deficit, and we're using part of
4:40
that money that we're borrowing to pay off other debt that we'd
4:44
already borrowed. Are we already in a state of
4:48
default? Think about this when a person
4:50
goes bankrupt, OK? Have you ever gone bankrupt?
4:54
I never have gone bankrupt. I don't have any debt.
4:57
I hate that. I've always hated that.
4:59
That is the currency of slaves. That's what they say.
5:03
Silver is the currency of gentlemen.
5:05
Gold is the currency of the royalty.
5:08
Well, I'm, I guess, a gentleman. I haven't been called that in a
5:13
long time, but I'll call myself that.
5:15
You know what? Coin shop?
5:16
Chris told me earlier when I was talking to him on a video call
5:19
with this tie. He gave me the ultimate put
5:23
down. He said I look like Joe Biden.
5:25
He said that's a Joe Biden tie. You look like Joe Biden.
5:28
So anyway, where was I? Yeah, If you go bankrupt, let me
5:33
tell you how it works. You just don't wake up one day
5:36
and say, huh, I think I'm bankrupt.
5:39
It's a process, right? Default is a process.
5:43
It takes time. It has to build and build and
5:45
build and build. And I'm not putting words in
5:48
this man. Mr. Willie's mouth.
5:49
He was on Arcadia economics, right?
5:52
Chris Marcus, a friend of our channel and a great source of
5:55
great information. But he brought up this point
5:57
that, like, maybe, maybe we're already in the process of going
6:01
bankrupt. He showed pictures of the Long
6:04
Beach port, which is where all these container ships come in to
6:08
unload. It's like supposedly it's empty
6:10
and it's like never empty. And he said, well, maybe it's
6:13
because people aren't wanting the dollar anymore.
6:16
I don't know. Very interesting.
6:18
As we head into 2024, Seven trillion dollars worth of U.S.
6:25
debt needs to be refinanced in 2024.
6:29
I'm going to ring the bell in just one second.
6:30
Coin Shop Chris, thank you for throwing that virtual Ding Dong
6:34
at me. He can like, send me instant
6:35
messages. Thank you, Coin Shop Chris, from
6:38
your old friend Joe Biden here in the basement.
6:41
Anyway, $7 trillion worth of U.S. debt needs to be refinanced
6:47
in the coming year. That's a lot of money, guys, and
6:50
we don't know who's going to buy that debt.
6:52
OK, this is what we're heading into next year.
6:54
Let me ring the bell. We got 100 thumbs up.
6:57
This is a bell warning for those of you who do not like the bell,
7:00
but I am going to continue to ring it 10 times for each ten
7:03
thumbs up. By the way, was Friday the
7:11
biggest day ever in the history of the gold and silver market?
7:15
We're going to talk about that. OK.
7:18
Hold on a second here. You guys turned off on me.
7:20
There you go. Now you're back.
7:22
Thanks for coming back. We're going to talk about that
7:28
as we're talking about this calamity that we could be
7:30
heading into in in the United States, 7 trillion that needs to
7:33
be refinanced. Think about it.
7:36
Let's put our, let's use our, let's use our heads.
7:38
You're analytical. I'm an analytical person.
7:40
I know that. That's why we come here.
7:42
We want to put the pieces together and develop a thesis.
7:47
If the United States was heading into big financial trouble,
7:51
would it did not make sense that when they went through the whole
7:54
debt ceiling debacle months back, right?
7:57
Did they? Wouldn't it make sense that they
7:59
didn't raise the debt ceiling? No, they didn't raise it.
8:02
No, no, no, no, no. They went for the atomic bomb.
8:06
They said we're just going to suspend the entire debt ceiling
8:12
until 2025. What are we heading into?
8:15
I ask you, are we going to look back and say, duh, we should
8:19
have known they suspended the debt ceiling.
8:22
They made it so they have an open checkbook to print, to
8:26
spend money, as much money as they want.
8:29
Are we going to look back a year from now and say, see, we should
8:32
have seen that's what a Black Swan event is.
8:35
A Black Swan event is something that happens.
8:38
That's extreme. But in hindsight, you look back
8:43
and say, duh, I should have seen it coming.
8:46
I don't know. I don't know.
8:48
It's for you to decide. But here's the Here's the
8:52
kicker. Here's what's really going to
8:54
send the price of silver to $65 gold. 3000 or higher. 2500 will
9:01
be nothing. But I'm going to show you from a
9:02
technical perspective later with a brand new chart, why 2500 is
9:07
very much in the cards, according to one of the top
9:09
technical analyst in the world. But nonetheless.
9:12
And we're going to talk about, yes, a nude man, very
9:16
interesting. But the kicker Here's Here's the
9:20
reality. OK, no matter how you slice it
9:24
or dice it, no matter how you adjust the smoke machines in the
9:29
mirrors and the fun fed, fun house.
9:31
No matter what Jerome Powell says.
9:35
Right, right. The what?
9:36
The head of the United States Federal Reserve, Gomber Pyle,
9:40
Surprise, surprise, surprise. You know what he's going to say?
9:44
He's going to say surprise, surprise, surprise, America.
9:48
The only way that we can deal with this in 2024 is by printing
9:54
money. But he's not going to call it
9:56
money printing. He's not going to come up after
9:58
his Fed emergency and say we had to start printing money, We had
10:04
to monetize the US debt. But that's exactly the only you
10:07
can you can call things what you want.
10:10
You can make up names. You can blame whoever.
10:14
But the only way that the United States is going to be able to
10:18
get out of this predicament, right to to perpetuate the
10:22
system is by printing money. When they print money, OK.
10:26
When everybody else realizes what's going on when we get
10:30
inflation. Because guys, I don't know.
10:33
What do you do you do you think? Let me ask you, do you think
10:37
that we're going to get massive inflation next year, right.
10:43
I just typed an I looks like a line.
10:46
I want you to participate here in the live stream as well.
10:49
I can see Do you think that we're going to get massive
10:53
inflation? I'm telling you, we are set up
10:57
right. The table is set for big time
11:00
inflation next year, while at the same time it's it's him
11:04
being in the box. Remember I haven't showed you
11:07
this for like 3 weeks. I've been.
11:08
I've been keeping it from you playing hard to get.
11:10
Let me pull it out. Here's the box.
11:15
OK, here's the box. That's inflation and that's a
11:21
recession, right? You know who's in a box?
11:25
Yeah, that old guy boy is curled up.
11:28
Yeah. Good old Jerome.
11:30
There he is. Everybody say hi to Jerome.
11:32
Jerome is in a box. That box is called stagflation.
11:37
Stagflation is the most fertile soil, The best environment for
11:44
unbelievable returns in the precious metals, right?
11:47
Do we know for sure that it's going to happen?
11:49
Maybe I'm dead wrong. I don't know.
11:51
I see a lot of eyes coming by in the chat, right?
11:55
I see a lot of eyes. Maybe.
11:56
Maybe I'm not alone. Maybe.
11:58
Maybe we silver and gold investors, Do you remember?
12:02
Do you remember what it's like to have great gains?
12:07
It's been a while. Especially silver investors,
12:10
especially investors and precious metal mining stocks, it
12:14
could happen, OK. It it's it's probably it's
12:18
what's called in the, in the real technical world they call
12:21
that an asymmetric risk that the risk of of going down is so much
12:27
more outweighed by the potential returns to the upside.
12:32
And for an example, let's say with silver, we're at, what, 23?
12:35
We'll say we're at 24. We're not, but we're.
12:37
We'll say we're at 24. The risk of silver going from
12:40
$24.00 an ounce to $10.00 an ounce or 14 an ounce, right.
12:47
The the odds of that happening are far outweighed by the idea
12:52
that silver could go to $85 an ounce, $65 an ounce, OK, that's
12:58
called an asymmetric risk. Sure, it could go down.
13:01
We always have to be prepared for the worst case scenario,
13:05
right. John Carrier that started the
13:06
carrier of air conditioning company used to say he always
13:10
prepared for the absolute worst and then in his mind had to be
13:15
OK with the worst case scenario playing out and then everything
13:20
else and and good things do happen right.
13:22
We could see easily this year, right?
13:26
Silver have great returns, right, in the next five years.
13:29
The next 10 years, We we know the fundamentals that are
13:34
supporting this idea of much higher silver.
13:38
All right, then that's what I believe, right?
13:41
You're a basement dweller and you know you probably are really
13:44
into silver. I understand people get
13:47
frustrated. I'm frustrated, right.
13:50
Try holding some precious metal mining stocks.
13:52
You're not just frustrated. You've lost a lot of money.
13:55
I'll raise my hand. OK.
13:57
It's that's been A to a particularly vicious place.
14:02
They have money invested. If you've got any money in
14:05
precious metal mining stocks over the last few years, you
14:08
know what I'm talking about. But that can change.
14:11
That really can change and change very quickly.
14:14
Let's have a drink. I'm drinking coffee.
14:16
OK, I'll be right back. And let's talk about a precious
14:28
metal mining stock, like all the precious metal mining stocks
14:32
that has great potential for appreciation.
14:36
Our new channel sponsor, Fortuna Silver, that's a stock that I've
14:39
owned for years and years. You can check them out at
14:43
fortunasilver.com. They've grown the company at a
14:48
great, great rate over the last almost 20 years.
14:53
But look their balance sheets in great shape.
14:55
It's a company that I believe in.
14:57
I'm not giving financial advice. I'm not telling you ever what to
15:00
buy or sell, but I think that it's worth your time to check
15:04
out Fortuna. Fortuna silver.com Let's talk
15:08
now. Here it is.
15:11
On top of everything going on this, this is this is outright
15:15
downright scary. This is scary.
15:24
OK, this is from the Telegraph UK newspaper, talking about
15:28
what's going on right now in the US banking system.
15:32
We need to know about this because this is the environment
15:35
in which we are investing and investing right now, it says.
15:40
A sobering A sobering analysis by four of the country's leading
15:44
financial experts. Four of the country's leading
15:47
financial experts says this comfort blanket has created a
15:51
beguiling illusion of stability. What they're talking about is
15:55
the emergency lending, the what's it called the the BTFP,
16:00
the Bank term funding program where federal authorities bathed
16:04
America's struggling regional banks and short term liquidity,
16:07
disguising the slow burn damage of the US commercial property
16:13
slump. Wait till you hear this, OK?
16:16
The underlying crisis in the banking system continues to
16:20
deepen as five trillion 5 trillion.
16:23
A trillion is a million million of commercial real estate.
16:28
Debt taken out during the zero rate era comes due in tranches.
16:34
That means comes due in groups over the next what, one year?
16:38
Two years, three years, 5 trillion and they're letting
16:42
them hide it Right on the with the Fed quote, here's a quote.
16:47
These are the top four financial experts in the country.
16:52
It's not a liquidity problem, it's a solvency problem, said
16:56
Professor Thomas Pazorsky, a banking specialist at Columbia
17:01
University. Hold on here and one of the lead
17:06
authors. Temporary, to quote temporary
17:09
measures have calmed the market, but half of all U.S. banks are
17:14
running short of deposits with assets worth less than their
17:19
liabilities, and we're talking about 9 trillion, he said.
17:23
OK, a sobering analysis by 4. Emergency lending by the US
17:29
federal authorities has paid wait.
17:32
Same thing. Anyway, the Internet technical
17:37
problems. We've got massive issues coming
17:40
up with the commercial real estate sector.
17:43
Hold on here the darn. I hope you guys can still see me
17:46
and hear me. Hello.
17:47
Hello. Hello.
17:48
There's 300 people. It says hopefully you can see me
17:51
and hear me. That's all coming due next year
17:56
Now. Now let's look at that at the.
17:58
So we got 5 trillion in commercial real estate debt.
18:01
I'm not saying that's all next year.
18:03
I don't know if that's one year, two year, three, but it's all
18:05
coming due in tranches, OK. The underlying commercial real
18:08
estate is worth 60-70 cents on the dollar, Big problems for the
18:14
banks, OK? While at the same time our
18:17
government's going to be trying to refinance $7 trillion in in
18:23
in U.S. Treasuries.
18:25
I don't know, guys. It doesn't seem to me to end
18:28
well, this debt stuff, this debt bubble.
18:31
And it's not just the United States, right?
18:33
Sure, we got 34 trillion in national debt the world, right?
18:38
And that's like, what, 130% of GDP?
18:41
The world has 307 trillion and I've read that's like 200% of
18:46
the world GDP. It's it's a very, very scary
18:49
ugly situation. On top of that, let's talk about
18:52
this quickly. Let me talk, let me let me give
18:56
me one second here. This comes from Zero Hedge U.S.
19:03
bank and this is what we're going to be hearing about next
19:05
year. This is 2023.
19:08
It's going to get worse in 2024. Be ready US bankruptcies jumped
19:14
18% in 2023 amid high interest rates.
19:19
Overall, bankruptcies in the United States jumped by a fifth
19:22
in 2023, as both businesses and households struggled with high
19:28
interest rates and the end of pandemic stimulus.
19:31
Total bankruptcy filings rose by 18% to 445,000 last year, up
19:39
from 378,000 in 2022. In 2022 wasn't exactly a great
19:45
year for bankruptcies either, it says it's anticipated.
19:49
We saw new filings in 2023 increase in momentum over 2022
19:56
with a significant number of commercial filers leading the
19:59
expected increase in normalization back to pre
20:02
pandemic bankruptcy levels. Here we expect the increase in
20:07
numbers of consumer and commercial bankruptcy filers.
20:12
Looking for protection. Hey, thank you.
20:14
Craig Edmonds. Good evening.
20:16
Buttercup to continue into 2024, given the runoff of pandemic
20:22
stimulus, it's going to be crazy in 2024.
20:29
Thank you for the Super chef, my friend Craig always appreciated.
20:32
Never expected. We got the Long Beach port
20:36
that's that's empty. We're going to talk about the
20:40
technical chart in terms of what's going on in gold.
20:44
Gold will lead the way for silver.
20:47
Gareth Soloway is a leading analyst, a guy who everybody
20:52
listens to when it comes to his technical analysis of a number
20:56
of different assets, but one of which that he follows closely is
21:00
gold. And he was on with David Len
21:02
talking about about the gold market in 2024.
21:07
Talking about it is one of his favorite asset classes to own
21:10
into, isn't everybody. Have you noticed that, Like
21:14
everybody's talking about owning gold now if you want to get your
21:17
hands on some gold or silver before maybe it gets to be a
21:20
little bit too late. Let's thank our other channel
21:22
sponsor, Pimbex, Pi MB E, xpimbex.com.
21:28
They're an online bullion dealer.
21:30
They have silver, they have gold, they have platinum.
21:33
They have great customer service, they've got great
21:36
selection, and they have great, great prices.
21:40
OK. I bought my silver from Pinbex
21:43
before they graciously offered to sponsor the show Ron's
21:46
Basement. We have them to thank companies
21:48
like Pinbex, companies like Fortuna for making this show
21:52
possible. OK, Pinbex, you can find them
21:55
online. Pi MB E xpinbex.com and I want
22:01
to read something to you. I knew there was something I I
22:03
say this all the time, but I learned about Pinbex from one of
22:07
the viewers. Coin Shop Chris.
22:11
Yes, here it is. Coin Shop Chris sent me this
22:14
from our comment section in one of our videos.
22:16
Let me read this real quickly. This is from user umm 7 IS bunch
22:20
of numbers and he says anyway thanks Ron.
22:22
And this isn't the public domain.
22:24
Thanks Ron. My wife and I've been watching
22:27
for a while. Never heard of Pendeks but you
22:29
have been absolutely right. They have the best prices hands
22:33
down. We bought some just recently and
22:35
the price blew me away. Wish I knew about them years ago
22:39
but they will from now on be the only place I go.
22:42
Keep up the good work that's from.
22:45
That's in the comment section of one of the videos.
22:48
Maybe Coin Shop. Chris remembers which one.
22:50
He sent that to me. OK, let's talk about we're going
22:55
to talk about the naked man in a little bit.
22:58
But first, let's get out the new chart.
23:02
What did I do with it? Here it is.
23:03
OK. Gareth Soloway is talking about
23:05
how gold could easily go to 2500 in 2024.
23:11
That doesn't seem right to us. Right to say 2000.
23:14
Hey, thank you, Kevin. Wow.
23:16
Thank you for that Super check, guys.
23:18
Super appreciated. We talk about the different
23:22
charts here real quickly. Bear with me.
23:28
There's the price of silver in Turkey, huh?
23:32
Yeah, that went up quite a bit. There's Argentina.
23:34
There's the dollar index. Oh, boy.
23:37
Hold on. Hold on.
23:41
I'm getting too many charts. There's the wedgie.
23:44
Oh, yeah. Here we go.
23:45
All right, let's. But we got it.
23:48
We have a new chart. Look at all these papers.
23:52
There's all this stuff. It's crazy getting crazy.
23:55
Don, I need to get an assistant. Bear with me.
24:01
All right, All the different charts.
24:04
We talk about this one, right? That's that is silver from 1980
24:11
to 2023 Cup and handle. There's the cup, there's the
24:14
handle. It's even more pronounced in the
24:17
gold market. OK the massive cup and handle
24:20
this is considered. This is considered to be one of
24:24
the most absolute strongest and most predictable charts.
24:28
OK, this show Silver 1980. Cup 2011 fifty.
24:33
When we break out in silver, it is going to be, it is going to
24:38
be absolutely crazy. The silver price is still
24:41
fighting the wedgie. OK as you see all right we've
24:46
come back we're kind of we've gone above and we're testing
24:50
there right the top of the wedge.
24:53
We'll see how it plays out here in the coming weeks.
24:57
I am more optimistic than ever about the silver price and gold
25:02
price after Friday because you know, nobody's I'm please listen
25:07
to me on this, OK? This is a big deal.
25:12
I'm not. I'm not bragging.
25:14
But when I get like as excited as I was about what happened
25:18
Friday in the silver and gold market, it's it's a once in a
25:22
like five year day on Friday. Because on a day when the silver
25:27
and gold price should have been slaughtered, we should have been
25:30
down $50.00 in gold, $40 in gold on Friday, down a dollar.
25:35
I don't, I hate, I would have hated for that to happen.
25:39
But with the good employment numbers that came out, that that
25:43
data, the standard reaction should have been to absolutely
25:50
torpedo the gold and silver price.
25:51
And immediately after the numbers came out, that's exactly
25:55
what happened. But then gold fought back.
25:58
Silver fought back shortly afterwards.
26:01
Gold at one point was up $17.00 per oz.
26:04
Early in the day. On Friday into the day about
26:07
even guys were still at $2045 gold in the spot market.
26:12
Silver actually ended the day up a little bit.
26:15
The fact that in the face of a day that should have been a
26:19
horrific torpedo. That was the last shot across
26:24
the bow. That was the last gust.
26:26
Remember, we talked about the gold price and the silver price
26:28
running into the wind. That was like the last, the the
26:32
end of the storm. Like when a storm comes through,
26:34
there's that last little part of the storm that sometimes can be
26:38
like a big gust of wind. Well, that's what it was.
26:41
I'm telling you what happened. Friday was a big deal for the
26:45
silver price and gold price. We'll see.
26:47
OK, we'll see. I could be wrong, but when gold
26:51
was that strong in the face of what should have been massive
26:55
adversity, or was massive adversity with those good quote,
27:00
UN quote, Joe Biden economic miracle employment numbers, I
27:03
think we got a lot to be excited about.
27:05
Let's talk about though I keep talking Gareth Soloway $2500
27:10
gold. Here's why.
27:12
OK, this is a new chart. We're learning, right?
27:16
I'm not a big chart guy, but I thought this was definitely
27:19
worth sharing with you. OK, It's called the head and
27:23
shoulders pattern. So when you're looking at me
27:25
right now, I've got two shoulders and a head, right?
27:28
That's what the pattern looks like.
27:30
I'm going to show it to you upside down first.
27:34
All right. There's a shoulder.
27:37
There's a shoulder. I'm sorry.
27:39
There's. There's a shoulder.
27:41
There's a shoulder, there's the head.
27:43
OK, this is upside down. So this is called the reverse
27:48
head and shoulders pattern. And this is the price of gold.
27:53
If we start back in August of 2020, we got to about $2000 per
27:59
oz right up there. That's there.
28:02
If we go to March of 2022, right, we dip down, created a
28:08
shoulder, we got back to 2000. If we go down here, I think this
28:12
was like October of 2022. We got down to about what 1600
28:18
ish in gold. Remember that the world was
28:20
ending and then we shot back up just earlier.
28:24
This was the banking crisis, the 2000 and then last year we went
28:29
down and here we are now this is an upside down head and
28:33
shoulders. All right.
28:34
So what this means is this is a very Bush.
28:38
This means over here we keep going up because there's now,
28:42
right. So as we go out further this way
28:45
in time, we keep going up. The way you measure reverse head
28:50
and shoulders move is from the top of the head to the neckline.
28:55
They call that orange line, the neckline.
28:57
That's the 2000 that formed that shoulder, the head and that
29:01
shoulder, that move is $450. The move up this way as we go
29:07
into the future should be another $450.
29:10
When you add 450 to 2050, where we are right now, you get to
29:16
$2500 gold. You guys keep going away on me.
29:22
You're there, OK, you're back. So that's what we have to look
29:25
forward to. Look, I think we're going to
29:30
2600. That's based on, you know, just
29:33
a lot of figuring a a a constant analysis of the market.
29:37
I think that when we get above that 2100, we're heading, hey
29:41
guys, wow, we got 200 thumbs up. You know what that means bell
29:44
time. And then we're going to talk
29:45
about the naked man. OK, I'll be.
29:49
I'll be right back. 200 thumbs up.
29:52
This is the bell warning and it's the loud bell.
30:11
Hey guys, this show is not possible without the help of the
30:14
moderators. And we are going to do the most
30:17
important part right now, which is thank the moderators for all
30:20
they do. We do that because the
30:22
moderators are great. We type 8, if you don't mind,
30:27
please type 8 to show your appreciation for the moderators.
30:33
This is funny. I don't know this guy.
30:39
I don't know if you heard this story, but this guy, I think
30:46
maybe he went to Costco or something.
30:48
We're going to talk more about the Wall Street Journal and gold
30:52
in a second. OK.
30:53
But I think this guy went to Costco.
30:57
He must have gone to Costco and they didn't have any silver,
31:01
Eagles or gold available. He got really upset because
31:05
then, and I don't know that that happened, but I think that, I
31:08
think that's that that's within the realm of possibilities.
31:10
Went to Costco. There's no gold or silver
31:13
available. But then, and this is from NBC
31:16
News. Yes, NBC News, National News,
31:19
the National Broadcasting Corporation, or what a company,
31:22
whatever they're called. We have a news story telling us
31:25
that police arrest police arrest a naked man who cannonball
31:33
jumped into an aquarium and an Alabama bass pro shops.
31:39
The man faces several charges, including public lewdness,
31:43
disorderly conduct and criminal mischief.
31:46
It says here a man crashed his car outside a Bass Pro Shops in
31:49
Alabama because he'd gone to Costco.
31:52
Maybe, right? They didn't have any silver
31:54
Eagles or gold coins, I don't know.
31:56
But he stripped down to his birthday suit, I'll let you use
32:00
your imagination on that one, and plunged into the giant
32:04
aquarium inside the store. For those of you who've never
32:07
been to a Bass Pro Shops, they all, they all have massive
32:12
aquariums with like, all kinds of fish and all kinds of stuff.
32:16
The ordeal happened Thursday night in front of shocked
32:19
shoppers in a town. So we talked about a crazy 2024.
32:25
We have some of our fellow Americans that are doing some
32:28
pretty crazy things and I'm. I just can't get that out of my
32:31
head because we have a bass pro The prospect of somebody running
32:39
into the store nude and jumping into the giant aquarium?
32:42
That would be a visit to Santa that certainly would leave,
32:47
would leave memories. Look, the Costco gold thing is a
32:50
big deal. I understand you're probably
32:53
tired of hearing me talk about it.
32:55
Well, I'm gonna keep talking about it because the fact that
32:58
Costco sold $100 million worth of gold in the last three months
33:03
is a big deal and to me shows a whole new segment of investors
33:08
coming into the market. The fact that Costco is now
33:11
selling silver is a big deal. And I just want to read this
33:17
headline to you. The fact that we have a Wall
33:23
Street Journal article with this headline is a big deal.
33:35
Wall Street Journal says this came out Friday, January 5th.
33:40
Came out, Yeah, yesterday. Wall Street Journal.
33:43
You can buy gold bars at Costco, but are they worth it?
33:47
The retailer says that it's periodic offers sell out
33:51
quickly, and some say it's a great deal.
33:54
All things considered, guys, what?
34:01
What? What is going to absolutely
34:05
destroy the stranglehold that the Comex and the LBMA?
34:10
The JP Morgans, The whoever, the powers that be?
34:13
There are people who have spent their entire career proving that
34:16
the price of silver and gold are manipulated.
34:19
We've now moved into a environment within the gold and
34:24
silver markets for the last remaining piece of the puzzle.
34:31
For the prices to really explode higher will will be just a small
34:37
uptick in demand from investors. I wanna remind you, 2022 we saw
34:43
a decrease in investment in silver and the silver price
34:47
still held up. Well what does that tell us
34:50
right? What happens if investment
34:53
demand for silver, just Rick Rule said this and I think it's
34:58
it's probably one of the most beautiful things I've heard
35:01
about the silver market that we don't need that to get
35:05
unbelievable returns in the silver market.
35:08
We don't need silver to be loved Okay.
35:11
We just need it to be a little bit less hated Okay because we
35:18
love it, right. We know, we know the whole
35:20
story. We know the the, the, the, the
35:23
compelling reasons why we own the precious metals, right?
35:28
But most people don't like it, right?
35:31
They like putting money into their ETF, their s s and P500,
35:35
whatever the case may be, When that day comes, when we get just
35:39
a few more people who come on board who who are interested,
35:43
it's going to mean the price goes way up and then what's
35:47
going to happen is all the other people, right?
35:49
Especially in 2024 because I believe we are heading into a
35:54
environment which is going to create massive inflation and
35:58
when we get that whole other massive group of people, it's
36:02
it's going to be potentially right.
36:06
We know what happened less than a year.
36:08
Let me remind you, less than one year ago you could not go to
36:12
your local coin shop and get silver.
36:15
They were charging like unbelievable premiums for
36:19
American Silver Eagles needed to wait to get them right.
36:22
You were they were charging, you know American Silver Eagles were
36:26
selling if I remember like $4045 each, you know, $20 over spot.
36:32
It was crazy, right? So this is when I when I talk
36:36
about not being able to get your hands on silver.
36:41
And that was just a little minor crisis right.
36:43
The banking crisis that happened back in March and April that the
36:47
Fed papered over with the what's it called BTFP, the bank term
36:52
funding program and which is another code for money printing.
37:00
So to think that 2024 couldn't present us with the same
37:05
situation, we don't know for sure.
37:06
We don't know absolutely what's going to happen, but but but
37:11
when we look at everything going on like, right, Andy Scheckman
37:14
always says when you look at all the crumbs and kind of piece
37:17
things together, it sure seems like we're in an environment
37:21
that we could get a, a, a a massive surge in demand for the
37:26
precious metals. I know you're ahead of the
37:28
curve. Hey, I want to say thank you for
37:30
being here today, guys. Please subscribe to the channel.
37:33
We're trying to get to 34,000 subscribers.
37:37
My plan is to be back live tomorrow, Sunday.
37:40
We've got a couple videos coming out.
37:43
Coin Shop. Chris and I have a new video if
37:44
you get a chance. Listen to that.
37:46
We had some fun as usual. Take care.
37:49
Thank you. OK.
37:50
Thank you for being here. Thank you for being so
37:52
supportive of this community. You know.
37:55
Thank you for the Super chats. Always appreciated.
37:59
Never expected. Thank you and I will see you
38:02
tomorrow. Bye.
38:03
Bye.