Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨SILVER INVESTORS!🚨 You Better LISTEN to THIS - (Gold Price News Update)

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🚨SILVER INVESTORS!🚨 You Better LISTEN to THIS - (Gold Price News Update) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Unbelievable developments in the world of precious metals, the
0:05
silver price, the gold price. Guys, the party is not over and
0:10
we are just beginning. We are likely in the second or
0:13
third inning of a nine inning baseball game.
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We're going to talk about all the reasons why in this video.
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We have a lot to be excited about as we together head
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through the coming months, quarters and years.
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And since we are together, thank you for choosing to be here in
0:28
the basement. Thanks for joining, joining us,
0:30
we got a great community of people that love precious
0:33
metals. We have people joining us from
0:35
the crypto world. We are having a lot of fun and
0:38
there's a lot to look forward to.
0:40
Please subscribe to the channel, give the video a thumbs up and
0:44
share it. Leave a comment in the comment
0:46
section below. Even if you don't agree with me
0:48
and many of you don't, that's OK.
0:50
You should read some of the comments that we get.
0:53
But let's talk about the big breaking news this morning.
0:56
Suddenly the economy is in tatters.
0:58
The jobs report came out and it was way below expectations.
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But there's something absolutely shocking about this and we're
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going to talk about that briefly right now.
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Let's go out to CNBC. Our good friends at CNBC, the
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United States added just 7. Hold on here.
1:18
We got some technical issues, OK?
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the US added just 73,000 jobs in July.
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I hope you guys can see me and are see the screen and hear me
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in July and numbers for prior months were revised much lower.
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OK, So not only OK job growth here, let's highlight this for
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us. Job growth totaled 73,000 for
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the month, above the June total, but below even the meager Dow
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Jones estimate for a gain of 100,000.
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So fewer jobs were created. But what is absolutely crazy is
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the second part here. June and May totals were revised
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sharply, lower down by a combined 258,000 jobs from the
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previously announced levels. Are they?
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Are they kidding us? I mean seriously, really?
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Their numbers for May and June were off by over 1/4 of a
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million jobs. We aren't going to talk about
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this much longer. But I will say this, did all
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those people that had make believe jobs back in June and
2:26
May 1/4 of a million? That's think about, I live in
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Saint Louis. I'll think of Busch Stadium, the
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base where the baseball Cardinals play.
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I think it seats about 50,000 people.
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That's 5 Busch Stadium full of people that had make believe
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jobs in May and June. I'm wondering, did they get to
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cash their make believe paychecks?
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Well, anyhow, that has sent the price of gold and silver flying.
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Let's go back out to CNBC and let's check on get an update
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here on where the metals are right now.
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It's like the stock market's getting clobbered.
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Gold. Here we go.
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Wow. Gold up $50 per oz, silver up
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$0.25 per oz, almost 3/4 of 1% even copper coming back to life.
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And we're going to talk about copper here in a second and why
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that impacted the silver price. But we don't we don't have to
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worry, stop worrying about the silver price.
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I know the last week or so, it's not been a lot of fun for silver
3:29
investors. We were ready for silver to
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breakthrough that $40 level. It is going to happen.
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OK, let's remember a couple things and we'll get into that
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in a few seconds. We got a couple factors that we
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need to keep in mind, reasons why the silver price is still in
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outstanding shape. And we know gold is doing well
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also, but let's first start by taking a look at the chart.
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And here we are at Yahoo Finance.
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We're looking at the silver futures chart, which we will
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update here. We were pushing up against 37
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dollars. Yeah, we still are $36.96 in
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silver. This is the September contract
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and let's do a quick review here guys.
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If we go out and look at the six month chart of silver, as you
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can see, we're still in a definite uptrend.
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Let's look at the one year chart.
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All right, now let's remember a couple key things on this chart.
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OK? Number one, we broke through
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this level, the $35 level on silver, which had been kind of a
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resistant point for for quite some time.
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We then broke through, hold on here, we didn't breakthrough
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that. That's a charting and Ron's
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basement. We also broke through this level
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right at 37. OK, now what's critical today,
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but not, well, not supercritical.
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What's supercritical is the big long red line that we stay above
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that in the futures above 35. What is critical today is this
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level right here kind of where we are right now and silver
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showing strength. We're getting this news that the
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economy is slowing. We were getting, there's so much
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we got to talk about. All right, so let's let's go
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back here, OK, So many reasons why we're in good shape.
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I'm just going to read through them quickly.
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Let's remember this, OK, reason number one, we are in the summer
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dole. Welcome to the summer doldrums.
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I know we're having a great time in the basement.
5:34
Don't forget, subscribe to the channel.
5:36
We still have that special deal going.
5:38
It's free, but we're in the summer doldrums.
5:41
Everything goes down. Viewership on YouTube videos
5:44
prices the gold and silver in the face of the summer doldrums.
5:48
The silver price is still in the futures market.
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They're pushing on $37. It has been a good a good
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summer. It's like silver went out for a
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jog and there was a 10 mile per hour wind coming in its face and
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still set a record pace. So let's remember that.
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We looked at the chart. That's number two, OK?
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Plus, we know that the silver price has been suppressed and
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manipulated right for decades and they're still trying to do
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it. We know the big banks have near
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record short positions. We're going to see probably
6:21
today with the most recent cut report where that stands.
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But they want the price of silver to go down.
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And if all they can do is get it to $37, even if they get it down
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to $35, what we are building is a massive base.
6:41
More and more people, the new people who are buying silver
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today, the new people who may buy silver, if indeed it does go
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down to $35, warning, warning, right, are going to be
6:51
strongholders. And as we make that March to $40
6:56
per oz and then breakthrough 40 and then make the March to 50,
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everybody is going to be in the money.
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OK. The big reason why silver got
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clobbered, what was that? I guess on Wednesday, that was
7:09
when Trump announced this tariff news about copper.
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The copper market had its worst day I think in history.
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They're saying, right? And look, silver is a bipolar
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metal. Silver definitely has its
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monetary component, which I tend to focus on a little more.
7:24
Silver also has its industrial component.
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So when, when, when the price of copper gets clobbered at a rate
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that is historic, right? Of course, that's going to pull
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silver down. But the long term outlook for
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silver remains great. The other big laugh, ha, ha.
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And I wrote these notes yesterday that the US economy
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suddenly was doing great, right? We're got these new GDP numbers
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that came out. Guys.
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Look, when you peel back the onion, when you look under the
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hood of the United States economy, it's not doing so
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great. The only thing they're going to
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be able to do, and this will support the price of gold and
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silver as we move forward is print money.
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What did we hear today? Right?
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We'll quick, quick briefly review the economy added much
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fewer jobs than were anticipated.
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Oh, and by the way, 250, a quarter of a million, five Major
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League Baseball stadiums full of people during the last two
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months. Those were make believe
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imaginary jobs. Trump is not going to be a
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president that's going to shy away from money printing.
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We got more to talk about that as well.
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But if you believe and look, I'm not a financial advisor, do your
8:37
own due diligence. Don't make any financial
8:39
decisions based on what I'm saying.
8:40
But if you believe like I do, it's OK.
8:43
It's a free country. I can still sit down here and
8:46
join you and me together and talk about my love for silver.
8:49
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Let's not, let's not forget another thing we have coming.
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Trump equals volatility. Trump equals drama.
10:50
Guys, we are going to have a lot of volatility in the coming
10:54
years. We know the world is changing
10:56
like never before. We talked about China, we talked
10:59
about India, we talked about the rise of the eastern countries,
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which coincidentally they love their silver, they love their
11:05
gold as well. We are not heading into a period
11:08
of tranquility or the price. I mean silver and gold.
11:12
People love the safe haven status of the precious metals.
11:16
Just think I want you to imagine the next 3 1/2 years.
11:19
Do you see like a lot of smooth sailing or do you see
11:22
volatility? Do you see, I mean, you can
11:24
probably work a calculator like I can.
11:26
And when we look at the US debt clock and we have a debt bomb in
11:30
this country, do you see the US dollar becoming more valuable?
11:35
The president himself here, I've got it.
11:37
Let me pull this up. The president himself has said
11:41
that he wants a weak dollar. Here it is.
11:45
All right, let's pull this up. This comes from our friend Chris
11:48
Marcus at Arcadia Economics and Trump.
11:53
Strong dollar sounds good, but a weak dollar makes you a hell of
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a lot more money. And there's a big reason why, as
12:01
precious metals investors, we want to protect ourselves from a
12:04
weak dollar. But let's just see what he said
12:07
here. This was from Reuters.
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Trump, a strong dollar sounds good, but you make a hell of a
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lot more money with a weaker 1. All right, Donald Trump said on
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Friday he liked a strong dollar, but you make a hell of a lot
12:20
more money with a weaker one. Sorry, I repeated that.
12:23
So when we have a strong dollar, one thing happens.
12:27
It sounds good, but you don't do any tourism.
12:30
You don't sell any tractors, You can't sell trucks, you can't
12:33
sell anything, Trump said at the White House before leaving on a
12:36
trip to Scotland. Well, guess what, Donald, you
12:40
forgot one key thing, right? With a strong dollar, you can't
12:44
pay back your debt either. The only chance that the United
12:48
States has of just maintaining this debt load, but it's also
12:52
growing, is by loop, by diluting the dollar, by making the dollar
12:56
weaker and weaker. But the big key here that we
13:00
need to remember is we all make the mistake, right?
13:03
We all like the value, our silver and our gold, right?
13:07
Price it in U.S. dollars. Really, we want to think about
13:10
it in terms of Oz, But if we're going to talk about if we're
13:13
going to measure, right, the price of gold and silver in
13:16
dollars as the dollar continues to get weaker, as our very own
13:20
president told us is a good thing, the price of silver and
13:26
gold in dollars will only continue to go higher and higher
13:31
and higher. OK.
13:32
The other thing I want to mention, this is such a big deal
13:36
in particular for the silver price right now guys, this is
13:40
real. There is muted, there is low,
13:43
there is. I can't think of any other fancy
13:45
word, other way to say it. There is weak, there is pathetic
13:49
demand from the West, from the retail investment community for
13:54
silver. If I remember correctly, I heard
13:58
Chris Marcus was doing a great interview with Lobo Tigray the
14:02
other day. He he mentioned the fact that
14:04
like in some previous years, retail western investment demand
14:08
for silver was one of the highest demand categories for
14:12
silver. And now it is absolutely
14:15
pathetic. I for fun right here.
14:18
I don't keep much silver at the house, but I do have this 10 oz
14:21
bar and I for fun I called my local to coin shop because I
14:25
will be honest with you, I have never in my life sold an ounce
14:30
of silver and we're talking about over 20 years.
14:32
But I thought I'm going to call. So here I made some notes and
14:35
I'll tell you what they offered me.
14:36
This is how pathetic it is right now.
14:39
At the time the spot price was $37.10, a little over $37 per
14:45
oz. They offered me $357 for a 10 oz
14:51
bar. That's less than $36 per oz.
14:56
That's going to change change OK, but the good news here,
14:59
here's the good news, right They the the demand for physical
15:02
silver on the retail side is so weak that if you go to sell it
15:06
back, they're giving you less than spot OK, that will change.
15:11
And I want to give you the silver lining in that situation,
15:14
in the silver lining is simply this, OK, that when the smallest
15:20
increase in Western demand, even if we the good thing is even if
15:23
we just go back to average demand from the Western retail
15:28
silver investor, it will create a big major impact within the
15:34
overall silver market. It could be right.
15:37
I'm not trying to start anything here, don't put words in my
15:40
mouth, but it could be the catalyst that could start a
15:44
silver squeeze. And if silver demand from the
15:47
Western retail investor were to go above average, we can only
15:52
imagine what could happen to the silver price.
15:55
Look, we know the big reasons why we love our silver, right,
15:59
and why we love our gold. And by the way, while I'm on
16:02
that subject, I also want to say thank you channel sponsor First
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There aren't a lot of big development stage projects in
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the gold mining sector in Canada.
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And these big gold miners who are making record profits are
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going to need to refill their pipelines.
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Again, I'm not a financial advisor.
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Don't make any financial, financial decisions based on
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what I say, but it's a stock that I've owned for years and
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for gold mining stocks and for the developers and in particular
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companies like for first mining gold heats up, there could be a
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potential for great capital appreciation.
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All right, guys, it's been fun being with you down here in the
17:15
basement. I know, right?
17:17
It's never going to be a straight ride up anything in
17:21
life worth doing. That's a big accomplishment,
17:25
including right being able to reap some big rewards from our
17:29
investments in silver, gold in the mining stocks are going to
17:33
are going to have some bumps in the road.
17:35
We know the long term perspective remains so, so
17:40
bright. I mean, look at what's going on
17:42
in Washington. Look at what's going on with the
17:44
fiscal situation in our country. Look at what's going on.
17:49
What do you think about the monetary situation?
17:51
Look at the turmoil between Trump and Jerome Powell.
17:54
Let me show you something, All right?
17:56
I know I'm not allowed to open this box, but we got to let him
18:00
out every once in a while. This guy and Donald Trump are
18:04
not getting along. You saw the video from last
18:08
week, Thursday when I dropped him.
18:11
Hold on. Make sure he's OK in there.
18:17
He is. That's his toilet paper.
18:19
That's what that's what the Fed does, right?
18:21
They print money. But you saw the video Thursday
18:25
of last week when when Donald Trump went to the white or went
18:28
to the Fed, I mean, it was the most awkward 2 minute
18:33
interaction between two people. It doesn't get more awkward.
18:37
Fed and and Trump and Jerome Powell were standing at the Fed
18:42
and it was just like, let's just say it wasn't good.
18:45
If you haven't seen it, I'd highly recommend you check it
18:48
out. That's on the monetary side of
18:50
things. On the fiscal side of things,
18:52
we're up a Creek without a paddle in this country, $37
18:56
trillion and debt. Are you kidding me?
18:59
Right. At 4 percent, 5% interest rate.
19:02
We are in a debt spiral in this country.
19:06
Absolutely. While at the same time, when we
19:09
think about gold and silver, look at what India is doing.
19:12
India is one of the fastest this growing economies in the world.
19:15
1.4 billion people. Look at what China is doing. 1.4
19:20
billion people. They're sucking all the gold and
19:24
silver from the West. Where do you think?
19:26
You know, if I, if I would, and I'm not going to, don't worry, I
19:30
don't want to disrupt the market.
19:32
But if I'd sold this 10 oz bar back to my local coin shop, I
19:38
got a feeling it'd been on a fast boat over to China.
19:41
They're sucking up all the world's metals.
19:44
We are fine. Actually, we're better than
19:48
fine. We are in unbelievable good
19:51
shape. As we move into, we are not, we
19:53
aren't just thinking about weeks, months, quarters, years
19:57
where I'm talking about the next decade.
19:59
I think that the, the, the, the position that anyone who's
20:03
protected themselves with gold and silver, that they put
20:06
themselves in a very, very, very safe and lucrative position.
20:11
I don't know, maybe I'm wrong. All right, I'm the guy that that
20:16
three years ago was saying I thought gold would get the $2500
20:20
and I had a big giant teddy bear in my basement that was
20:23
blindfolded, but that worked out.
20:25
I want to say thank you. Speaking of the bear to my
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They are innovating and growing like crazy.
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Most importantly, I want to say thank you to you for joining me
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here, guys. We are the basement dwellers.
20:49
We know we know what the next let's think about the next
20:54
decade. Imagine 10 years from now,
20:57
right? We'll be together, we'll be down
20:59
here. How do you think we'll be
21:00
looking back at the previous 10 years from a precious metals
21:05
perspective? I think we're going to be
21:07
looking back with a big, big, big smile on our face.
21:10
But most importantly, all right, we'll know that we got to spend
21:13
a lot of time together down here in the basement.
21:15
I appreciate you, Susie. Appreciate you.
21:18
Oh, wait, before I forget, I got one more thing.
21:21
Guys, don't forget. OK?
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These are awesome. Hold on.
21:26
Yep. The Dirty man.
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Check out The Dirty man safe. OK, dirty man.
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These are so cool. And if you want to, you know,
21:34
you got a safe at your house, a safety deposit box, but you want
21:37
to diversify where you store things, don't forget about
21:40
these. They open here at the bottom.
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These are so cool. I was so impressed when I got it
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initially sent to me. They allow you to This gets
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buried in your yard. Only you and maybe one other
21:54
person get to know where it is, but it keeps valuable safe right
21:59
from fire, flood, all types of things.
22:02
And like I always want to point out about burying things, how
22:06
did the pirates safeguard their treasure?
22:09
And what are people doing all around the world even today
22:12
trying to dig up and find? All right, take care.
22:15
Have a great day. All right, let's go gold.
22:17
Let's go silver. I'll see you next time.