Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨 BIG DRAMA! 🚨 Banks & Bullion doing THIS -- (Silver Price & Gold Price)

Transcript

🚨 BIG DRAMA! 🚨 Banks & Bullion doing THIS -- (Silver Price & Gold Price) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Everywhere we look, we see crisis.
0:03
We've got big developing stories right now in the banking sector
0:08
that could send reverberations across the world economy.
0:13
And what will that do to the silver price and gold price?
0:17
You know, we're going to talk about that, but there's so much
0:20
more. I'm hearing growing numbers of
0:23
people explaining the recent downdraft in the precious metals
0:27
prices. Yes.
0:28
Silver, gold and platinum due to something that went on in China
0:33
over the last few weeks. We'll talk about that.
0:35
What is Russia doing that we should be very interested in
0:39
when it comes to precious metals?
0:41
We'll get to that. And is the Fed going to pause?
0:44
Did we get a big message from the San Francisco Fed telling us
0:50
the Fed is done raising rates? Of course, we got the big jobs
0:55
number this morning. We're going to talk about that.
0:58
And maybe why? We might just laugh when we hear
1:01
that, but what does that mean for the metals?
1:03
And what are the metals doing silver and gold price wise right
1:08
now? Very interesting developments
1:10
there. Plus, what are the billionaires
1:12
doing? We always want to pay attention
1:14
to what the billionaires are doing, and they're doing
1:17
something very interesting with their money.
1:20
We're going to talk about all that and how it relates to,
1:24
Yeah, I know you well enough. You're like me.
1:27
You're a little bit of a silver bug and a gold bug and maybe a
1:30
platinum bug. You're a precious metals
1:32
enthusiast. We're going to talk about how
1:34
all of that information ties back to the only form of real
1:41
money in the world, silver and gold.
1:44
And we're going to have a good time doing it.
1:46
Thank you for being here. Please give this a thumbs up.
1:50
I'll only beg you two more times, but that's how we get the
1:52
word out to more people. So thank you basement dwellers.
1:56
Big news this morning. Jobs numbers.
2:00
Another incredible jobs beat by the Biden team, right?
2:05
Bidenomics is. You know, I don't know about
2:09
you, but I think we're similar. And I think we're also similar
2:14
to silver and gold because it's big news this morning, not just
2:19
this. Information.
2:21
The jobs number that we got from the Bureau of Lies.
2:24
I'm sorry, Bureau of late lies Bureau of I don't know.
2:29
Something in statistics anyway. But the big news is how did
2:34
Silver and Gold react? They should have been pummeled,
2:38
right? That's what happens every time,
2:41
every month for the last two years.
2:42
All the jobs numbers great. The Biden's creating all these
2:46
wonderful jobs in the economy. And that would send the price of
2:50
silver and gold plummeting. And that did happen initially
2:54
this morning. But baby, they bounced back.
2:57
I checked right before we joined each other now and I think
3:01
silver was up $0.30. Gold was positive as well.
3:05
Things are changing guys. What does that mean to you?
3:08
What does that mean to us that we have this Suppose it great
3:13
jobs number that should absolutely.
3:17
Based on the on the, on the established narrative and the
3:21
financial services community that should have killed the
3:25
price of silver or gold. But it didn't.
3:28
No, they're doing OK. I said this a week ago, I said
3:32
it all this week, and I'll continue to say it to you.
3:35
You don't have to agree with me. Most people don't a lot of
3:39
times. But I think we're at a real
3:42
interesting period in the metals market, right?
3:46
Now between all this crazy price action we had over the last
3:50
week, right? A day where Silver moved 7% and
3:55
one day I was talking with the CEO Silver Elephant Mining
4:00
yesterday and we joked. I said yeah, I think last Friday
4:03
when silver moved 7% and one day up a dollar and dropped like
4:09
$1.40 over the course of the day to end like down.
4:13
Who knows what it was down that day.
4:14
Anyway, I said. We laughed.
4:17
We were like, yeah, maybe. I guess since silver and gold
4:20
track inflation, inflation must have dropped 7% in one day.
4:24
We have craziness. What does that mean, This crazy
4:27
price behavior, The interesting way that the metals have
4:31
responded this morning to this idea, and we'll call it nothing
4:35
but that, an idea that the economy is creating jobs.
4:39
The economy is doing great, you know.
4:42
You know, I won't even go. I will tell you this.
4:45
I've gotten to the point where I used to kind of be, you know,
4:49
hanging on edge. I don't know if you were that
4:51
way before these jobs numbers were come out.
4:53
I don't even. It's like I didn't even phase me
4:55
this morning. I'm like, whatever, it's just a
4:57
bunch of BS. Because, you know, this is what
5:01
made used to make me mad. We're we're growing together, us
5:05
basement dwellers. We don't quite get as mad about
5:07
this as we did. But over the last two years,
5:10
every month they would report these incredible job creation
5:14
numbers and then at the end of the report they would slide in
5:17
like. But we revised the previous two
5:21
number, two months numbers down by 80,000 jobs each month or
5:27
some big previous month revision like what we told you last
5:30
month, which was an awesome jobs number last month.
5:34
Well, it wasn't so awesome after all.
5:36
But don't worry about that. Just look at this month.
5:39
This month is awesome again and I haven't even looked at the
5:42
Read this Somebody know? Did they do any revisions?
5:45
Put it in the comments for the other people to see.
5:48
I'll probably miss it. But I'm sure they revise the
5:50
numbers down. Look, in the long run, guys, the
5:53
US economy is in big, big, big, big crisis and trouble.
5:58
The world economy is facing major challenges.
6:02
We've got a lot more to talk about during this live stream,
6:05
including what's going on with a major bank in the UK, which is.
6:11
Could be the first domino to fall.
6:14
Thank you Craig Edmonds for the Super chat.
6:16
The first domino to fall. Our economy and the UK's economy
6:20
are very much linked. They're experiencing the same
6:24
banking issues that we are. Could this big UK bank be the
6:28
first, the the first domino to fall?
6:34
Let's talk about Silver for a second.
6:36
We always have to have a little the little chat about our old
6:39
friend Silver. Did you hear Pan American
6:42
Silver? And one of the world's biggest
6:45
silver producers had to stop mining operations at one of
6:49
their big Mexican mines because it was robbed now.
6:53
Take a step. Back and think about silver.
6:56
You know the whole story. The exploding demand for silver.
7:01
You know the whole story. The BS price manipulation at the
7:06
COMEX, and in particular the BS price manipulation over the last
7:10
few weeks, you know, yes, you know the story regarding the
7:17
Shanghai Gold Exchange and the Shanghai Futures Exchange, which
7:20
are actually based on physical metal, not 250 to 1 leverage
7:24
like here in the United States physical.
7:26
Metal over in Shanghai. In China, the price of silver
7:30
tends to be a lot higher. You know that whole story.
7:34
But what about Mexico? That produces 30% of the world's
7:40
gold. That means go get your stack of
7:42
silver, get ten of your silver rounds, 10 of your one ounce
7:47
silver bars, whatever you get, get ten of them, and then take
7:51
three of them off that stack and hold it in your right hand.
7:55
That's. The amount of that silver that
7:57
came from Mexico. Mexico produces 30% of the
8:00
world's silver. But what does that?
8:01
Have to do with anything, Ron, You might be asking.
8:05
Who cares? We know that statistic that has
8:07
to do with everything is it dawned on me this morning,
8:11
Mexico is providing all that silver and Mexico is becoming
8:16
increasingly confrontational with the United States.
8:19
But that's not even. The story.
8:21
The story is. From a jurisdictional
8:25
perspective and their ability to continue to produce more silver,
8:28
their government is becoming very anti mining.
8:32
OK, their government, we got three things to cover their
8:34
government. It's making it very difficult
8:37
for miners to operate in Mexico, to explore, for silver in
8:41
Mexico, to get permits, to build mines.
8:45
It's the government environment there is absolutely horrific.
8:49
Anyone will tell you that. And remember they're the ones
8:52
that provide a big share of the silver and will provide a big
8:56
share of the silver. As we go into this future where
8:59
silver demand is everybody. I don't hear anybody saying that
9:04
the demand for silver is going to go down.
9:06
But the output, the production is going down in the situation
9:09
in Mexico will only exaggerate that problem, but it gets even
9:14
worse. We got two more things.
9:16
There's big social problems in Mexico right now when it comes
9:21
to silver, right? The miners going on strike,
9:25
people get, you know, social, major, social issues, mines
9:30
being shut down because miners are going on strike demanding.
9:34
That they get more profit sharing.
9:37
So you got the government at the top making it hard for Mexico to
9:40
provide silver. You've got the people making it
9:43
difficult. Not all of them.
9:44
I love Mexican people. I'm not mad.
9:46
You know, I they they want their fair share.
9:47
That's great. The third thing to top it all
9:51
off as well is now you have armed bandits going into these
9:56
mines with I'm sure machine guns or something, right.
10:01
And. Stealing the silver.
10:03
That's what happened at Pan American.
10:05
They went in and sold and stole the silver concentrate.
10:08
So when we think about silver, $20.00 an ounce silver.
10:12
Are you kidding me? Nobody's making money at $20.00
10:15
an ounce silver. It's not gonna last.
10:17
We're having decreasing production under the best of
10:21
circumstances, but you factor in what's going on in Mexico, the
10:24
productions even being more constrained.
10:27
Newmont, one of the world's biggest miners, just shut a mine
10:30
down in Mexico. Right, suspended operations I
10:34
think if that was over a social issues, we've got contracting
10:38
output of silver when at the same time we've got increased
10:42
demand and nobody's exploring for silver, nobody's developing
10:47
very few companies you can hold them in one hand.
10:49
How many pure silver companies do you know?
10:51
Silver Elephant is one of them. You know, First Majestic, Keith,
10:57
New Meyer? There's a few.
10:58
Silver companies, but not that many.
11:01
OK. So we've got to bear this in
11:03
mind as we look at the future of silver.
11:06
It looks bright. It looks very reflective.
11:08
It looks good. Thank you guys for being here,
11:10
all 400 of you. What about, what about, are you
11:13
wondering, Are you wondering what caused the major downdraft
11:18
in the gold price and the silver price?
11:21
There's a theory being floated around that I want to share with
11:25
you that I've now heard from multiple sources.
11:29
OK, hold on a second. Let me pull this up.
11:32
And it has to do with Chinese holiday.
11:34
Look, I gotta ring the bell. Hold on a second.
11:37
We got 100 thumbs up, couple bonus rings because it's Friday.
11:49
All right, bear with me here, guys.
11:53
You know me and technology. You might be like me.
11:55
It's not always easy. Boom.
11:58
OK. All right, Hold on a second.
12:00
Do do. Do do, do.
12:02
Do. Do.
12:02
Do. Do.
12:03
Do. Do.
12:06
Do. Do.
12:09
Where was it? All right, here we go.
12:11
Let me read this to you. This came from my friend Luke
12:15
over in Holland. OK?
12:18
This is from overseas and it's a letter that he gets.
12:23
And it's very interesting about what went on with China and the
12:27
precious metals prices over the last few weeks.
12:30
And I also heard of John Lee talked about this with me
12:34
yesterday. How the let me just read this to
12:37
you. It is not the first time that
12:39
precious metal prices have been pushed down during the Chinese
12:43
golden. Isn't that ironic?
12:46
They call it Golden Week. They're on.
12:48
That's like their holiday over there.
12:49
And while they're on holiday during Golden Week, what's the
12:52
Comex do in the LBMA? They crush gold anyway, he says.
13:00
This author says, He says I've written about it several times
13:03
in recent years. In 2018, he said, Quote, this
13:06
week is the Golden Week in China, A7 day period in which
13:10
the Chinese celebrate in the COMEX and the LBMA.
13:14
Smashed the price of gold and silver.
13:17
That was my commentary. The gold market will then have
13:20
to make do without the Chinese buyers and this is immediately
13:25
noticeable in the trading volumes.
13:28
Usually it's also a good time to push the gold market lower
13:32
because all the Chinese traders are out on vacation on holiday
13:38
and it's in quantitatively you can see this in the volumes of
13:42
the amount of gold being traded. And when they're gone, what are
13:46
those? Sneaky.
13:48
I'm sorry. We know that guys at the COMEX
13:50
and the LBMA, they're the utmost ethical, nice good people right
13:54
now when the Chinese are gone, they smash the price of gold.
13:58
Happened in 2013, fourteen 15/16/17.
14:02
This was part was written in 2018.
14:06
The violence used to push the prices lower is suspicious.
14:10
I've been writing for a while now that central banks will
14:12
sooner or later have to intervene in the financial
14:15
markets, and usually the gold price is suppressed just before
14:20
such an intervention. That's key to remember.
14:24
They push down the gold price, the silver price.
14:28
Just before the Fed has to intervene in the market and what
14:31
we're going to talk about here in a little bit about the banks
14:34
and this big UK bank is Incre is evidence that we're nearing that
14:41
point potentially and that could be absolutely what's going on.
14:45
OK. Could it be what is going on
14:48
here? Is the Federal Reserve making
14:50
plans to support the bond market?
14:53
That would mean a huge boost in the commodity markets.
14:56
That would mean rocket. Fuel for the price of gold and
14:59
silver, Don't you know they push down gold and silver because
15:03
they know that they're going to soon need to intervene.
15:06
And when they intervene, since they already pushed it down,
15:09
that helps buffer how high silver and gold and other
15:14
commodities look at oil lately. We'll go, OK, good.
15:20
Is the Federal Reserve making plans OK?
15:22
That would mean OK. From that perspective, it
15:24
probably seems logical to lower prices a bit and thus dampen.
15:29
That's where he used dampen the effect, buy your precious
15:33
metals. Now this is from Martin.
15:34
Ver huen. I believe he's like a Dutch
15:37
analyst that sends out this awesome free newsletter.
15:40
And thank you to our friend Luke and Holland for sharing this
15:43
with us. So that's the big.
15:46
Picture the Chinese are going on holiday, so they're not buying
15:50
silver, they're not buying gold. So what are the guys at the
15:53
commacks and the LBMA decide to do?
15:55
Well, it's time to do a waterfall crush of the silver
16:00
price and the gold price. Does that does that make sense?
16:03
That's a theory that's going around by some pretty smart
16:07
people right now. Very interesting.
16:16
Let's see, while we're at this point, let's say guys, we've got
16:19
a big giveaway coming up on Black Friday.
16:22
The Ron's basement Black Friday. Giveaway, I'm super excited.
16:27
As a matter of fact, I'm going to share with you.
16:28
I'm going to show you the box right now of so far what we have
16:33
to give away and we received some big donations yesterday
16:38
from Jim M Jim McDaniel. I don't know if he's on here or
16:41
not. Unbelievable generosity from
16:43
Jim. He also sent some things that
16:45
we're going to send off. To coin shop, Chris, I'm going
16:47
to show you that later on in the video as well.
16:49
But for right now, I want to show you what we have in the
16:53
box, the silver box right now for the giveaway.
16:57
So hold on just one second. Let me grab the box.
17:05
And don't worry, we got a big banking crisis to talk about.
17:08
Uh oh, I just heard it all shift.
17:16
Uh oh, well, this is going to be hard.
17:19
Can you see that? Can you see all that in there?
17:22
Guys, we have some gold backs. We have a bag of silver here.
17:28
Let me just show you real quick. Hold on.
17:31
Bear with me. Bear with me.
17:33
I just want to show you what we've got.
17:34
We've got here. Jim sent us five.
17:39
Yes, five. There's five there.
17:42
Beautiful silver rounds. OK.
17:45
And a silver bar, A1 oz bar that's going to be given away.
17:50
This is all one big grand prize. I'm going to throw in a lot more
17:53
but for now this was just sitting here and you've seen it
17:56
on the show many times. The crew grant, we got a bag of
18:00
silver, really nice stuff from coin shop.
18:04
Chris OK, look at all this bunch of like 19 pre 1965 quarters,
18:13
half dollars and we have, we're going to have a bunch of these
18:19
to give away. I'm told gold backs are going to
18:21
be included and I haven't even. We're going to get something
18:25
from pin backs and we're going to get some stuff from Weber,
18:29
I'm sure. But for now I'm just going to
18:31
put that in there. Buffalo Trace, it's like whiskey
18:34
infused seasoning. You can get that at Sam's and it
18:38
is awesome. So I just wanted to share that
18:41
with you. Oh, and we.
18:42
Also have we're going to have some more stuff as well, but a
18:50
brand new with the tags on it. First mining gold Adidas hat and
18:57
I'll clean it off. It's been got a little dusty
18:59
down here in the basement. OK and and let's just do this
19:07
now this is the box we're sending the coin shop Chris
19:11
today. You guys all know Chris.
19:13
I'll show you really quickly. Jim McDaniel sent Chris these
19:18
two beautiful proof American Silver Eagles.
19:22
There's two of them and there's also this for coin shop.
19:28
Chris A that there's a wallet in there from our friend Richard
19:32
Cooper in the UK that I was supposed to send to Chris like
19:35
two months ago, full of coins. We're also giving Chris.
19:40
This that's a that's the RV that we're going to travel around the
19:45
country in when silver hits $85 per oz And we'll come visit you.
19:49
Don't forget, we're going all over the place.
19:52
We're giving Chris 2 Super Balls that came out of my private
19:55
collection Christmas color theme for the holidays.
19:59
We're giving Chris a Ron's basement sticker and a limited
20:07
edition. Signed.
20:11
This is two of eight my senior year in high school.
20:16
Report card. All right, let's get back to the
20:20
meat of the matter here, guys. We got a lot to talk about and
20:26
I'm going to need something to like, fill the gaps in that box.
20:28
So I'm going to smoosh Ding dongs in there.
20:30
OK, so everything is going crazy right now.
20:35
Let's talk about this banking crisis.
20:37
There's a bank in the UK that is going, appears to be going bust.
20:43
All right, this looks, this looks a lot like what happened
20:48
here in the United States when we had the banking crisis back
20:52
in March and April. This is kind of breaking news.
20:55
So I want to give it, give you what I know.
20:58
But guys, you know, here's what's going to happen.
21:00
We're going to have a banking crisis and you think, well,
21:03
what's the big deal about that? What's the big deal?
21:05
If we have more banking problems, that's going to be the
21:09
time when the silver price and gold price really take off.
21:13
And I'll explain to you why. But let's let's get through this
21:16
information, the latest that we have.
21:19
Richard Cooper initially alerted me of this.
21:23
It's called Metro Bank in the United Kingdom.
21:26
It's imploding. OK, it's down 90. 8% Its stock
21:31
value is down 98%. From 2016, that means if you
21:37
owned $100,000 worth of the stock just seven years ago,
21:42
congratulations, now you own instead of 100 thousand $2000
21:47
it's crashing. OK, this is a big bank.
21:51
Fitch came out yesterday and and and and downgraded this bank.
21:58
Oh, a day before it collapsed. Right our people.
22:02
Going to start pulling their money out.
22:04
And what's the problem here? The problem with this bank is
22:07
the same problem that a lot of U.S. banks have as well.
22:11
Their bond portfolio is down. They've got this, this bank in
22:16
the UK Metro Bank is trying to sell a third of their mortgage
22:20
port. They need cash.
22:22
The banks need cash, but they can't.
22:25
Sell anything they own. Because it's worth, you know, a
22:29
fraction. Well, not a fraction it's worth,
22:31
but it's a lot of the assets they own, whether it's
22:34
commercial real estate or mortgages or money, that is is
22:38
all down twenty 3040%. I got an article this morning.
22:43
I need to read it more in depth, but it basically talked about
22:46
how in the United States we have it.
22:49
We have had a crash in the bond market, guys, an absolute crash.
22:54
Long term bonds. A lot of these long term bonds
22:57
that people bought just 2-3 years ago, like in 2020 when
23:03
interest rates were at .5%, we're talking treasury bonds.
23:07
A lot of them are down almost 50% in value.
23:11
That means you bought that bond. Let's say you put 100,000 in
23:15
just three years ago. A bond, right?
23:18
The safest thing in the world. They're not supposed to worry.
23:21
It's worth right now if you want to sell it before it matures.
23:24
You're only going to get $0.50 on the dollar, $0.60 on the
23:28
dollar. This is real and this is going
23:31
on right now and the same scenario that we had back in the
23:37
07/08 time frame where the bank and you can see it first and the
23:41
price of the bank stocks, the bank stocks are going down,
23:44
down, down, down Citibank. Bank of America, U.S. bank.
23:48
Look at a chart. All those stocks are going down,
23:50
down, down. That's the what?
23:55
Moo moo. Oh, OK, see, I got to ring the
23:58
cowbell. I will in a second.
24:00
Thanks for distracting me. I'm supposed to stay on track,
24:03
but then I get distracted by her yelling at me from down upstairs
24:06
anyway. The first sign, The first sign
24:10
is the stocks go down. OK, the Fed is not going to let
24:14
the banks go down. They aren't.
24:17
OK. And this happened in 07/08.
24:20
The Fed started lowering rates way before the big official
24:26
crisis. Hit.
24:27
And that's going to happen again.
24:29
Remember, silver and gold are the oldest and wisest markets in
24:35
the world. It's true.
24:37
What was what? What?
24:39
Tell, tell. Think about it.
24:40
What's been traded? For a longer period of time in
24:44
this world, besides silver and gold, nothing oils, relatively
24:49
recent grains. You know, I guess it could be
24:52
another old one, but what's oldest are silver and gold are
24:56
the oldest and the wisest. I gotta ring the cowbell.
24:58
We got 200 thumbs up. Thank you guys.
25:01
And you know, I haven't begged you for a while if you're not a
25:03
subscriber. Please subscribe.
25:05
It helps the channel and it helps my mental state as well to
25:10
know that the number of people subscribing is going up.
25:12
It would be greatly appreciated. Now I'm going to ring the
25:14
cowbell very loud. There we go, 200 thumbs up.
25:26
We're almost a 300 thumbs up. But the big picture here, the
25:30
thing that we have to put together, there's so many moving
25:33
parts right now are that the banks are in trouble.
25:37
The banks don't have the money, OK?
25:40
People gave their money to the banks 3-4 years ago.
25:45
The banks made what are now appearing to be very bad
25:49
investments. They bought bonds.
25:51
They loaned your money out on commercial real estate, both
25:54
that commercial real estate and those bonds.
25:57
Are now worth much less. So if everybody ran to the banks
26:02
and I'm not trying to create a panic or but if everybody ran to
26:05
the banks and wanted their money, the bank would be like we
26:08
don't have it and the only thing that can be done to save that is
26:13
money printing, OK. And it's happening right now in
26:18
the UK. This Metro Bank is a prime
26:20
example. Is it?
26:21
Is it the Canary in the coal mine?
26:24
Is it Is it like the is it like the the, the, the, the, the
26:28
housewives buying gold from Costco?
26:30
Is it a sign of what's going to come?
26:33
Rates are higher now than back in March and April.
26:36
That means the bonds are even worth even less.
26:39
I just read the other day that the that the banks are
26:46
experiencing even more unrealized losses just in this
26:50
last quarter, like another 160 billion.
26:53
So it is real guys. It is going on in in again, what
26:57
it means for silver and gold, that whole banking voucher
27:04
system, whatever you want to call however you want to refer
27:06
to it, right. It's all make believe.
27:08
It all now relies upon more and more printing of money, printed
27:13
money going into the system, and that's the only thing they're
27:17
going to be able to do to save it, or they're just going to let
27:19
it crash in. Either way, how are you going to
27:22
fare as a silver and gold investor?
27:25
Either way, you're going to fare just well.
27:28
OK. This is a big bank, 50 billion
27:31
in assets, £15 billion in in deposits, OK.
27:39
The banks don't have the money and there's.
27:41
They all have these big unrealized, well, you we don't
27:45
know about the banking crisis because the banks don't have to
27:48
tell us. They get to hide all these
27:51
losses on their books. They're called unrealized
27:53
losses. You know what it's called?
27:55
Look, I have a degree in accounting.
27:56
I don't like to come out and brag about my financial
28:00
background. And I'm not saying I'm any guru
28:02
or anything else, but I did study indepth money and
28:05
accounting, and I understand how it works.
28:08
And I'm going to tell you something right now, it's
28:10
Disneyland accounting. Right.
28:13
It's Unicorn fart dust accounting that these banks are
28:16
doing because they're holding all these assets that are worth
28:20
much, much less than what they're reporting to the public.
28:25
Because unless they think they might have to sell them, right,
28:29
they don't have to report them. They can just keep them as held
28:33
to maturity. They're going to hold it to
28:35
maturity. They're going to hold that bond.
28:38
And I and we're going to move on to some other more into we're
28:40
going to talk about Russia next and we got to talk about the
28:43
billionaires. We got a lot more to talk about.
28:45
But, but these banks are going to hold these bonds, right, for
28:51
the next 30 years is what they claim.
28:53
I don't think so. If everybody shows up and wants
28:56
their money, the reality is right now they don't have it.
29:00
And that's not I'm I'm sure the Federal Reserve doesn't like me
29:04
saying that. But it's the truth.
29:07
It's the absolute truth, and people need and deserve to hear
29:10
the truth and to protect themselves throughout all this.
29:14
Yeah, Susie. Oh, OK.
29:19
I'm sorry. Yeah, OK, Susie just came down.
29:23
I got Susie yelling at me. Quinchup.
29:25
Chris sending me text. I tell you what, I'm getting hit
29:28
with Virtual Ding Dongs. And I deserve it.
29:31
And I appreciate everybody. Susie, I appreciate Coin Shop,
29:34
Chris. I appreciate all the moderators.
29:35
I appreciate you for being here right now.
29:38
The giveaway will be on Black Friday.
29:41
I'm sorry I failed to tell you how to enter the giveaway
29:46
because you can't. How do you like that?
29:47
It's a Ron's Basement giveaway. You just can't enter it.
29:51
Thank you, Jesse. For the Super Chat No.
29:54
On October 22nd, which is a Sunday if my memory serves
29:58
correctly, I will release a video called the Giveaway Video
30:02
and it'll be there will be a link to it in the description of
30:06
any video I put out right? That'll give you a whole month.
30:09
You'll go to that video the and hopefully watch it.
30:13
But anyway, what you really need to do is leave a comment on the
30:17
giveaway video. But the giveaway video won't be
30:20
released until October 22nd. And on that, during that video,
30:24
we're going to have a lot more stuff in the box.
30:26
So I'm going to show everything that's in the giveaway, say who
30:29
the sponsors are that contributed things.
30:32
And again on that video, then you'll just leave a comment and
30:35
you'll be automatically entered. There's only one entry per
30:38
person, and if you try to enter more than once, you're not going
30:42
to be able to because we have a software program that eliminate
30:44
eliminates duplicate entry. Eliminates duplicate entries.
30:50
Can you believe that jobs number this morning?
30:52
What a joke. Is our silver and gold up?
30:54
Can somebody tell me right now? In the in the in the comments?
30:59
OK Are silver and gold up or down?
31:03
Up or down? I'm watching.
31:09
Ricky's House of Crap says yes. I guess that means they're up,
31:13
Ricky. Right up, up.
31:15
No cheating. No cheating.
31:17
Yeah, people don't cheat. You know, I'll tell you what
31:19
about people. Let me tell you this, I think is
31:21
a great reflection on you. OK.
31:25
I was talking to Adam Van from Alpine Gold Exchange last night
31:29
and that's. Where we're going to get some
31:30
gold backs donated to us and I told him about my process, how I
31:34
do giveaways with the video and you leave a comment and then
31:37
that person and I draw it live. You can watch it.
31:40
It's a rant on my laptop and I hold it up and dislocate my
31:44
shoulder anyway. I said then the person who wins
31:48
has to send me an e-mail and I send them a code back.
31:51
I said just to make sure that nobody tries to claim the prize
31:53
that didn't win it. And I said, but that didn't.
31:55
He said, isn't that isn't that great that like you can like
31:58
nobody tried to cheat. And I said, yeah, I said that's
32:01
a reflection on people in general, but in particular the
32:04
good people that are basement dwellers here in Ron's basement,
32:09
that's us, that's you. You know, we're not cheaters.
32:12
We're good people. Absolutely.
32:15
Wow. Up, 46, up, up, up.
32:18
That is awesome. Okay.
32:19
So what news do we have about Russia?
32:21
We know the whole bricks thing. We know what that means.
32:25
I'm telling you, there's a new markets right now being
32:28
established for silver. Gold and platinum throughout the
32:31
world. I was talking to Jim McDaniel
32:35
last night. That's who it was.
32:37
And we were talking about China and India.
32:40
Just the ick. India and China, just the ick.
32:44
In bricks alone, we're not, we're not going to talk about
32:47
Saudi Arabia and the other six new countries joined or I can
32:49
talk about the Rep We're just talking about the ick.
32:52
They've got like 3 billion people, their populations like 8
32:56
times that of the United States alone.
32:59
They are developing new markets and they have explicitly said
33:04
they think the price of silver and gold or two.
33:06
Oh, what do you think that means?
33:08
Right. To me, what I think that means
33:10
is when you have that many people and then Jim brought up
33:12
something that I thought I'd never heard, but their
33:15
militaries. When you combine this, the
33:17
number of soldiers and the Indian and Chinese military,
33:21
when you combine that their military, number of people in
33:25
their military is bigger than the entire population of the
33:27
United States. So to think that.
33:30
Those countries and the bricks aren't a formidable adversary.
33:34
I think it's a big mistake. I think Americans, a lot of us
33:37
live in a little bubble like, well, we're like the ultimate
33:40
no, they. Formidable.
33:42
And what does it mean when we know how they feel about silver
33:46
and gold? Guys?
33:47
It's the opposite of what you live with in the West in the
33:51
West here. Right.
33:53
You're the black sheep. I'm the black sheep over there.
33:55
If you don't own silver. If you don't own gold.
33:59
If you show up at a wedding and you don't give a gift of gold,
34:03
you're the black sheep, OK? It's a completely different
34:08
mindset and at the same time, growing economies, growing
34:13
middle class, growing interest in silver and gold.
34:16
Let me have a quick drink of coffee.
34:21
And now? Susie's I got to.
34:23
Get some new Susie. You need to put new batteries in
34:25
my walkie-talkie. Yeah, it goes.
34:27
Really. Sure.
34:28
You don't have to yell at me. OK, I got to ring the bell.
34:30
The last time ever in the history of Ron's basement.
34:33
I'm going to do it. 300 Tradition knows.
34:43
I still can't believe I do that, but anyway.
34:47
But what do we know about? Russia, let's just briefly touch
34:51
on what's going on with Russia because that's we just talked
34:54
about India and China. What about Russia?
34:57
What about the Russians? What are they doing right now
35:00
with gold? You know, they're in such
35:03
horrible situation over there. Here we go.
35:07
This comes from our friend Mark. Thank you, Mark from Kitco,
35:13
Russia's Finance Ministry, to spend $4 billion on gold and
35:19
currencies from October 6th through November 7th.
35:22
But what's interesting here is. There's a kicker, so stay with
35:27
me. Russia's Finance Finance
35:30
Ministry will spend that money on gold Between the They
35:33
announced that on Wednesday. The Finance ministry in.
35:38
August restarted the purchases for the first time.
35:41
They just now are restarting in Russia since the Russian
35:46
invasion of the Ukraine in February of 2022.
35:51
The volume of purchases at the time was set to 1.8 billion
35:54
rule. But the big so the big news
35:56
here, OK, the big news, two things when it comes to the
36:00
world of gold. Russia is restarting their gold
36:04
purchases and we got news that central banks throughout the
36:09
world in the month of September also significantly increased
36:14
their gold purchases as well. All at a time when in the West.
36:19
We are, we are guys. We are barreling towards crisis
36:23
banking crisis with these interest rates where they are
36:27
and at the same time, OK, at the same time.
36:30
This makes me mad. I don't know how you feel about
36:32
this. We have elected officials in
36:36
Washington telling us. How great the economy is.
36:39
We're going to hear it all day today.
36:42
You know, Joe Biden gloating. I created 300,000 jobs.
36:45
Let me tell you something, Joe. Yeah, if you want to get some
36:49
some McDonald's delivered to the White House.
36:52
Yeah, right. You created a bunch of DoorDash
36:54
or whatever they're called jobs, not real jobs.
36:58
Because we know the real jobs. Are getting cut, High paying
37:03
tech jobs getting cut, right. The big jobs are going away.
37:08
But you know, since people are, I mean, are we are we in it?
37:12
I'm going to hear your thought on this, because are we moving
37:15
toward a slave labor economy where people are so desperate
37:21
for work, right? Credit cards, Nobody has any.
37:25
Most people that are are are have overextended themselves on
37:28
credit cards. Their savings are gone.
37:31
People are desperate to work. Are we moving towards a two
37:34
class system? We're sure you'll have all these
37:37
people working. Hey, it's great.
37:39
Have a great time. Work yourself 75 hours a week
37:43
just so you can make ends meet. Are we?
37:45
I mean it's it's, it makes no sense what's going on in this
37:49
country right now if things are so great.
37:52
Why? Why do people, when they're
37:54
polled by the Gallup Poll and other organizations, say that
37:57
the economy is like in the in the in the tank.
38:01
And it's like the worst that they've experienced.
38:05
You know you it it. What's the word?
38:07
Cognitive dissonance. Like you know, you're being
38:10
we're all being told Americans are all being told one thing,
38:15
but they're feeling something quite different.
38:18
Well, sure they are. Because if you're somebody in
38:20
your late 20s or 30s and you failed to buy a house already,
38:25
and now you're trying to have a family and buy a house, you
38:28
can't afford it. You can't afford a mortgage.
38:31
I mean, this is the reality, Okay, if you're in a house right
38:35
now, let's say you bought a house for $200,000 four years
38:38
ago and your house payment is, you know, 1500 a month, Okay.
38:43
And now you want to buy a little bigger house.
38:46
Well, guess what? You know a little bit bigger
38:49
house now is going to cost you like another 400,000 on top of
38:54
what you you, you already live in.
38:56
And so you you're going to have a much bigger mortgage balance.
39:00
And with these higher mortgage rates approaching 8%, you could
39:04
look at like just to get into a house that's maybe another 800
39:08
square feet because you're having a family, you might be
39:11
looking at going from a house payment of 1500 to 5000.
39:15
Right. Welcome.
39:16
Welcome to the Joe Biden economic miracle.
39:19
And it's not just his fault, you know, I mean, it's this.
39:22
This has been developing for decades, but it's not a good
39:26
situation. What's the we we've been talking
39:29
about this. Now we're going to use our
39:30
bedroom voice. We've been talking about what
39:33
could be very good for the precious metals an official
39:37
pivot, an official pause on interest rate hikes by the
39:41
Federal Reserve. Did we hear something?
39:45
Yesterday from the San Francisco Fed.
39:48
I hope you guys can hear me because sometimes I'm yelling
39:51
too much. I can feel my voice going.
39:53
Did we did we hear something from the San Francisco Fed
39:57
yesterday that we should pay attention to?
40:00
I think we have. Don't forget to give this a
40:03
thumbs up. Thank you.
40:04
Let's read this from Reuters. From Reuters.
40:07
San Francisco Fed President Mary Daly on Thursday said that the
40:11
US monetary policy. Was quote well into restrictive
40:17
territory. Yeah.
40:18
Thank you, Mary, because have you heard Mary that port
40:22
shipments being received in the New York and New Jersey are down
40:26
by 20%? Talk to a trucker, do you know
40:29
any truckers, I don't really personally know, I know there's
40:32
some on our champ truckers are hurting, freight volumes are
40:35
down 10%, rail volumes are down. So yes, Mary, we are a lot of
40:40
progress towards 2% inflation. In the recent rise in U.S.
40:45
Treasury yields, the Fed may not This is the key.
40:49
Listen up. This is what Mary said. the Fed
40:53
may not need to raise rates anymore, she says.
40:56
Quote, if we continue to see a cooling labor market, well, we
41:00
didn't see that today, did we? According to the Bureau of Lies
41:03
and Statistics and inflation heading back to our target, we
41:08
can hold interest rates steady and let the effects of policy
41:11
continue to work. And with the rise in long term
41:14
rates in recent weeks, she said the need for us to take further
41:18
action is diminished because the financial markets are already
41:22
moving into that direction and they've done the work.
41:26
So she's gloating right? The markets, Mary, maybe the
41:31
markets are raising the longterm bond rates because nobody wants
41:34
to hold the US debt. People are not interested in
41:38
holding longterm U.S. debt. Maybe it's because the Japanese
41:42
are selling US longterm debt. The Chinese are selling American
41:47
longterm debt. The Saudis are selling American
41:50
longterm debt. They they talk about this like,
41:54
like, like they're living in this bubble where they can
41:56
control everything. And the reality is guys, as
42:00
these interest rates go higher and higher, it is wreaking more
42:05
and more havoc within the economy.
42:09
This whole notion that the jobs market is great and the labor
42:12
market's great and that's going to, that's going to, you know
42:15
that the Fed can use that, that's only going to last for so
42:18
long. And I really feel like we're
42:20
getting near the end. I feel like, does it make sense
42:23
to you, I mean today what happened this morning, even if
42:27
gold and silver go down today, OK, which I don't, I don't, I
42:31
don't think they will and I certainly don't hope they will.
42:33
But but the way that the metals markets reacted this morning,
42:38
they're calling the bluff of the government and the Fed.
42:42
Do we believe the data the government puts out?
42:45
You know, I wish we could. I wish I could.
42:48
Don't. Do you believe the data the
42:50
government puts out? Do you see jobs?
42:53
Where, where are all these jobs being created?
42:56
Right. I mean, I'm sorry, but you know,
42:58
so. So is this whole situation.
43:01
Gels is going to leave no other option but for the Fed to to
43:07
loosen monetary policy. It's their only only tool they
43:13
have left. They aren't going to let the
43:15
whole system crash if they do. If they do OK, that would be a
43:23
first for them to purposely let it crash.
43:26
And on top of that, people that are holding precious metals will
43:30
still be OK. It won't be the end of the world
43:34
by any stretch of the imagination.
43:36
And what are the billionaires doing?
43:38
What are I read a great piece last night.
43:41
What do you think it means when you hear about billionaires
43:45
selling stock, right, Billionaires selling right, The
43:49
smart guys. We got Tim Cook from Apple
43:53
selling significant amount of his of his interest in the
43:56
company. Okay.
43:58
Maybe he sees something that we don't know about.
44:01
Another Warren Buffett sold a lot of stock recently.
44:05
Yeah, that Warren Buffett. I'm not the biggest fan, but
44:07
still Warren Buffett is a multibillionaire.
44:10
He's been selling a lot of stock.
44:12
What about the Walmart airs? They've been moving money out of
44:17
the stock market. You know, they're seeing what's
44:20
going on out there. We've got a real estate market,
44:24
a residential real estate market right now in this country that I
44:27
think it's teetering on on the edge.
44:29
You know, I would be very careful not giving financial
44:33
advice, but I would be very careful about purchasing or
44:37
making big real estate moves right now.
44:43
But but pinbacks? If you decide that you want to
44:48
get a little more silver and gold, I highly recommend you do
44:51
check out pinbacks. I've worked with them.
44:54
You know my whole story with them.
44:56
I actually learned about them from you.
44:58
People in the community that had worked with entrusted Pin Becks
45:02
and I had the exact same experience.
45:06
So if you're looking to add to your silver stack, gold stack,
45:08
or platinum stack, check out Pin Becks.
45:10
I think Pin Becks is best, and I think you will too.
45:14
But there's more, right? People can't afford their car
45:16
loans. People big article out
45:20
yesterday, there's a record number of people who are upside
45:23
down on their car loans. On their car loans.
45:30
Yeah, that means they owe more on their car loan than the car
45:34
is worth. All at a time when the same
45:38
people have no room left on their credit card and they're
45:41
being there's record credit card balances and there's record high
45:45
credit card interest rates. I found it really interesting.
45:50
Oh, I can't say that word. I found it very thought
45:52
provoking when I heard that during like the great financial
45:57
crisis. And you can check me on this
45:59
right now. Interest rates on credit cards
46:01
are like 2025. Thirty percent interest.
46:04
It's crazy, guys. If you have a credit card
46:08
balance, please consider ways to get that down.
46:12
Okay, but. Compared now the rates we have
46:15
now compared to during the 07/08 and during the 0708 crisis,
46:20
credit card interest rates were more like 11/12/13 percent.
46:25
It's like that's highway robbery, 25% interest, it's out
46:30
of control. And the other, the other really
46:34
big factor we need to consider about these jobs numbers, right,
46:38
these great jobs numbers that were reported to us today is, is
46:43
if all this a I artificial intelligence talk is real, isn't
46:48
that supposed to eliminate a bunch of jobs as well?
46:52
You know, I don't know, guys, when I look at the big picture
46:55
right now as we try to wrap our heads around all of this that's
46:59
going on, when we look at what's going on with this Metro Bank in
47:03
the UK and we know, we know the same thing is simmering here in
47:09
the United. States it has to be.
47:12
I mean what, what in March and April the 10 year bond yield got
47:17
a little over 4% and caused Silicon Valley and First
47:21
Republic in the three of the four largest banks in the
47:24
history of the United States to collapse and now we're at rates
47:28
that are 25% higher, right, approaching 5%.
47:32
You're going to tell me that we don't have more banks that are
47:35
in trouble, but you don't hear anything.
47:37
It's crickets. It sure feels like like there
47:41
might be, for lack of a better way to describe it, a cover up
47:46
going on to a certain degree, right?
47:49
I mean it's just it doesn't make good sense.
47:53
And we know, we know that the banks getting in trouble, right?
47:57
They can't hide the stock price. They can't hide the stock price
48:01
of Citibank, They can't hide the stock price of U.S. bank.
48:04
They can't hide the stock price of Bank of America.
48:08
And they are going down in a very strong manner is how we
48:13
would say it. That's our most wow.
48:15
Thank you Jesse for that, for that super chat my friend.
48:20
That's the biggest indicator of what is going on right now.
48:26
And the key here, the big key to remember is the Fed will step in
48:31
to save the banks before the Fed will step in to save the economy
48:37
and gold. Right.
48:38
The the the banks tell us what's going on in the economy.
48:42
OK, they're, they're kind of a forewarning, but gold tells us
48:48
what's going on in the banks. And that's the other big factor
48:50
that I think likely could have contributed to the recent
48:53
downdraft we had as well. It's going to be interesting,
48:57
OK. It's going to be a crazy, crazy
49:00
number of months ahead. And then we have the prospect of
49:05
digital banking and CBDC's on the horizon again, I was talking
49:11
with the CEO yesterday, OK? And he's convinced he thinks
49:15
2030 is like it's all going to happen before 20-30, which now,
49:20
guys, is only six years, 6 1/2 years, right?
49:24
That the CBDC thing when that occurs he was absolutely
49:29
positive that that's going to be super supportive for the
49:34
precious metals that when they when the governments around the
49:37
world try to put the clamps on to everybody and there's no more
49:42
cash, all right. There's no more that people are
49:44
going to run to the metals. And it likely if you think about
49:48
that what what will likely unfold here?
49:52
We're likely going to the the the roll out of CBDC's will
49:55
likely be preceded by some type of crisis official crisis right.
49:59
One that's reported on CNN excuse me.
50:03
And MSNBC and Fox News right to get everybody scared.
50:08
That crisis would also most very likely be very positive for the
50:13
silver and gold price and we don't want that to happen.
50:17
We don't. We're not rooting for bad in the
50:19
world, but we are realist. We do keep our heads pulled out
50:25
of the sand to give us the best chance that we can have to
50:29
protect our families to print. We got to protect ourselves
50:32
first the best we can. We're no good to anybody if
50:35
we're not strong and healthy and prepared for what's going on.
50:40
But to the extent that you are able to do that, you will then
50:43
be able to help your family, your friends, right, the people
50:46
around you, if indeed what sure looks like is going to happen,
50:52
does happen. Maybe it won't happen.
50:55
I mean, I think a lot of us maybe hope it doesn't, right?
50:58
Because we talked about silver and gold is more of an insurance
51:01
policy, right? I mean, at minimum, it provides
51:05
protection. I love, I love, do you love that
51:09
idea about silver and gold? I think it's one of the coolest
51:12
things and I think it can even be said about the precious
51:15
metals mining stocks right now. It's like at minimum we can
51:19
feel, can you feel confident that your silver and gold will
51:22
maintain their value over time over a long?
51:25
I feel confident of that. But the fun part, the real
51:28
kicker that we that gets us maybe a little excited and
51:32
optimistic and happy is the fact that we could see serious price
51:38
appreciation in the price of silver, in the price of gold, in
51:41
the price of platinum as well. And I'm going to tell you guys
51:44
another area where we could see unbelievable potential price
51:49
appreciation. And I'm not giving financial
51:51
advice. I'm just telling you what I do
51:53
is I own some of the small silver and gold development
51:58
companies. I own some of the big actual
52:00
producing companies as well, but one of them is a sponsor of the
52:04
channel First Mining Gold. Yeah, they have like 25 million
52:09
ounce projects in Canada. F FM.
52:13
GF is the stock symbol. Check them out if you want to
52:16
own gold in the ground. The value proposition right now,
52:20
I heard Peter Grandich talking about it yesterday in one of his
52:24
podcast. It's like it's never been so
52:28
attractive from a value proposition perspective to be
52:32
able to buy gold in the ground with companies like First Mining
52:35
Gold. Go to their website, read about
52:37
it, see what you think. If you have questions in this
52:41
description of all my videos, I have Paul Morris's e-mail.
52:44
He's their Director of Investor Relations.
52:47
He can tell you even more. But it's a very good time I
52:52
think to be invested in the metals and even the development
52:56
stocks and there's silver development stocks out there.
53:00
It's a it's a very small community.
53:03
But man, you know from, from, from, from the point where we
53:08
are now with sentiment, with the feeling towards these companies
53:12
and even the metals. We talked about that.
53:14
Yeah, let's, let's, let's, let's review one of the most exciting
53:19
besides the fact that silver and gold will will maintain their
53:23
value. Let's review.
53:24
It's Friday. Let's talk about something
53:26
happy. One of the most exciting things
53:29
about the silver and gold market.
53:31
Because the world's richest economy, Yes, that would be the
53:35
United States #1 America. America, right?
53:40
We're number one. Well, guess where silver, gold
53:43
and platinum investing ranks on the level of interest or the
53:48
level of participation in the richest country in the world?
53:53
At the bottom, you know that nobody cares, OK?
53:57
Nobody cares. We care, but nobody else cares.
53:59
What's good about that? What's good about that is if if
54:04
the United States right now we're like China, where 90% or
54:08
India, where 90% of people somehow are invested in silver,
54:12
gold and precious, if America was already like that, how?
54:16
Well, what if, what if we went from 90 to 92 percent, 94%?
54:21
That's not that big of a deal, right?
54:23
But think about this in America now where maybe 1% or 2% of the
54:29
people are interested and invested in some type of
54:33
precious metals investment. If we go that same 2% that we
54:37
went from 92 to 94% and we go from 1% to 3% that's three times
54:44
as much money and the world's richest economy and it's and
54:50
remember how fragile and sensitive these markets are, OK.
54:56
It takes very little for for for all the silver and all the gold
55:01
just on the just looking at it from the the retail side to be
55:04
gone from the bullion dealers. We saw it happen in March and
55:07
April. So it can happen quickly and it
55:09
can happen in an instant. OK.
55:12
In the meantime, you know, I'll be here for you.
55:16
All right. Ups and downs through all of
55:18
this, thank you for being in the basement.
55:20
Thank you to all of the moderators.
55:22
Annie Oakley, Neil Susie, Jake's custom parts coin shop.
55:27
Chris, of course. And all of you have a great
55:30
Friday. OK.
55:31
And if I forgot anybody, I apologize.
55:33
You're all important. You're important.
55:35
You watching. All of us are important.
55:39
So take care of yourself. Be nice to yourself, and that'll
55:43
help you be nice to other people.
55:44
I promise I'll try that today. You do too.
55:47
Talk to you soon.