Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / "NEW" Status EMERGES for SILVER and Gold

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"NEW" Status EMERGES for SILVER and Gold · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Is this time different for the silver price and?
0:04
The gold price? Are we indeed moving into this
0:08
new paradigm? I've got a lot to cover with you
0:11
in this video, but two big key fundamental things that.
0:16
We need to realize about the silver market and gold market
0:20
going on right now, right? Before our very eyes, one of
0:24
them. Has to do with very recent
0:26
developments and one. Has to do with something that's
0:29
been developing. Over the decades, but everybody
0:33
seems to forget about, both of which will lend.
0:36
Huge support for the silver price and the gold price as we
0:41
head into the coming months. Quarters and years.
0:44
And we're going to do that together because we are basement
0:47
dwellers. Sorry, when you come to the.
0:50
Basement to join me, you're going to be referred to as a
0:53
basement dweller. Like our friend Andy Oakley, who
0:55
I see on here with us this morning, we're all basement
0:58
dwellers. We love the precious metals and
1:01
we want to navigate these waters together.
1:04
But. We're going to talk about the
1:06
safe haven status of gold and silver, why that is changing and
1:11
what that means for the price in the future.
1:14
I got a. Little bit I want to talk to you
1:16
about the. Fed Our old friend Jerome Powell
1:19
at the Federal Reserve. We haven't talked about him for
1:22
a little while. Things are changing at the Fed
1:24
that are going to result in big changes in the.
1:27
Silver and gold market, so you stick with me, OK, Basement
1:30
dweller, we're going to cover that.
1:33
We got some news about massive fines against Goldman Sachs, JP
1:38
Morgan Chase. We're going to cover that
1:40
because those are the same people that manipulate the price
1:43
of silver and gold Down, down, down, suppressed, amp down,
1:47
whatever we want to call it, you know, poo poo it.
1:52
That's as dirty as we get on this channel, so we.
1:55
Have some sophisticated information for as well that
2:00
we'll discuss because occasionally we like to become,
2:03
you know, educated and sophisticated here in the
2:05
basement from the pin Wharton. University of Pennsylvania
2:11
School of Business about the bomb.
2:14
About to go off in the US economy, We're going.
2:20
To talk about that. Do you want more?
2:23
I got more. We've got that little secret
2:26
that nobody's talking about, OK? Nobody's talking about let's.
2:29
Start with this. Obviously there's a ton of
2:32
horrible things going on in the world right now.
2:34
I got a comment on one of my videos about.
2:37
Oh, you're so happy because of this war, Because silver and
2:41
gold are going up and I want to make.
2:43
It real clear right now to everybody who's watching and.
2:47
Everybody out there, I do not. Like war?
2:49
Sure, I like when the price of gold and silver go up,
2:52
absolutely. But I'm not in favor of it
2:55
happening on the back of war. I'd.
2:58
We we didn't create that situation.
3:00
None of us, right. I don't think anybody.
3:03
I know you well enough. You're not a violent person that
3:06
wants to see any type of the horrific tragedies that are
3:09
occurring right now in the. World because of war.
3:13
So let's make that real clear. I don't like war.
3:16
I'm sure you don't either, and I would appreciate other people
3:21
that maybe aren't fullfledged basement dwellers recognize.
3:24
That as well, but. There is a ton going on.
3:27
Oh my gosh. And we're going to cover it
3:30
right now. But first.
3:32
We got 100 thumbs up. It's time for the Big Bell one.
3:37
334-567-8910, Man, that bell is loud.
3:43
Thank you for the thumbs up. That's a tradition that we will
3:46
continue here in the basement. I want to paint a picture for
3:50
you. Think about this.
3:53
Think about what if five years ago, five years ago, I had told
3:58
you what was going to occur over the next five years?
4:02
That. Would be, what, 2018?
4:04
Sometimes I don't do well with math in my head. 2018, you and I
4:08
are hanging out. OK, it was before Ron's basement
4:11
was really a thing. We weren't really basement
4:13
dwellers yet, but we just. Met each other at a coffee shop
4:16
and we were talking and I. Said, You know, over the next
4:19
five years, I think we're going to have this C 19.
4:23
Crisis, this health crisis where they're going to lock everybody
4:26
in their houses. The world's going to shut down.
4:29
They're gonna print 40% of the US dollars that were ever
4:33
printed in like a 16 month period in the next.
4:37
This is 2018. We're talking, OK?
4:40
We're and we're. I loved.
4:41
Gold and silver. Did you love gold and silver
4:44
back then, HM Basement Dweller. Well, well, we're talking.
4:48
It's 5. Years ago, we're taught.
4:50
I told you about C19, told you about all the money that was
4:52
printed, then I. Tell you you're not going to
4:55
believe this, but what if the national debt or the United?
4:58
States goes up to $34 trillion. What if five years ago I told
5:03
you there's going to be a full-fledged war?
5:06
War. I always say it wrong.
5:08
I know I don't. Know which one it is.
5:09
Susie gets mad at me. She'll probably throw something
5:12
at me when I go upstairs. But war in Europe?
5:15
And then I told you that we were going to have.
5:18
This tragic war going on in the Middle East, you know, more
5:22
Israelis killed than any other time in history.
5:26
A massive. Would you have believed me?
5:29
OK, but. What about the silver and gold
5:31
price? This is five years ago and I
5:35
told you all this that was going on.
5:38
That silver production was actually going to be lower in
5:43
2023 than it is in the 2018 version of.
5:47
You, Yes, you Silver productions.
5:50
Now what do you think the silver price?
5:52
We would think that we would have 5060 triple digit silver.
5:57
We would think that we would have 3004 thousand dollar gold,
6:01
right, you know? Isn't it just crazy?
6:04
What is? That's the context of what we're
6:07
dealing with right now in this world.
6:10
And we've talked about this. Look, we talked.
6:13
And I'm not a I'm not. I don't.
6:15
I I have a Magic 8 ball. Can you see it Right there by my
6:19
finger? These two monitors are screwing
6:22
me up. And there's a crystal ball
6:24
somewhere as well. I didn't.
6:26
We didn't predict what was going to go on in Israel, but months
6:29
back. Months ago we said guys, the
6:31
world is getting crazier and crazier more.
6:34
Delicate, more fragile, The world is becoming multi polar.
6:39
It used to be unipolar, right? The United States ruled the
6:43
roost. Now that's changing new.
6:45
York Times article yesterday pointed out that very fact.
6:50
We are living through right now one of the most.
6:52
Dramatic periods of change that any of us have ever, ever
6:57
experienced. It's happening right now and we
7:01
said things are going to be #1 more extreme right events crisis
7:07
that unfold. Did we just see a major crisis,
7:11
just what, 3-4 days ago in Israel?
7:14
Yes, right. They're going to happen.
7:16
They're going to be bigger, but they're also going to happen
7:20
more frequently. Unfortunately, we don't.
7:23
Like it. We don't like the war.
7:25
We don't like the war in Europe. We don't like people, you know,
7:27
any of these things that are unfolding, but we can't.
7:31
Necessarily we can do our little parts, right?
7:34
We can be the change we want to see in the world, but we don't.
7:37
These big events aren't necessarily of our doing, but we
7:42
want to be prepared with silver and gold.
7:44
Now I'm going to give you one of the big, big, big cool things
7:50
right now. Blow your mind.
7:52
Whoopty do kicker. Whatever you want to call it.
7:55
OK, a basement dweller double feature big things that you can
8:00
be happy about right now when it comes to holding silver and gold
8:04
right now, within that context of, like I said, everything
8:08
becoming so much more difficult, there's a factor that I hadn't
8:13
thought of. That you likely hadn't thought
8:15
of either, and I want to give. Credit to who I learned this
8:18
from right and I'm not. Promoting other channels, but
8:21
Vince Latchy was on Arcadia economics I love.
8:24
Chris, Marcus. I love Arcadia economics and I
8:27
really have learned so much from this guy, Vince Latchy.
8:30
He said something yesterday that is I believe.
8:33
Very good news for you. Silver investors, gold
8:37
investors, platinum investors, any precious metal investor as
8:42
well. We, yes, we've got big trouble
8:44
in the Middle East, absolutely. Big, big situation unfolding
8:49
tragedy. Absolutely.
8:52
Usually. Usually when the past, when
8:55
those things happen. When we.
8:56
Lived and remember we used to be on a unipolar world.
9:01
Everybody would rush to the US dollar.
9:03
Everybody would rush to U.S. Treasury bonds, but now that the
9:08
world has changed from unipolar to multi polar.
9:13
The BRICS right Brazil, Russia, India, China, South Africa,
9:17
United Arab Emirates, Saudi Arabia joining the BRICS.
9:22
These countries, right? The world, right?
9:25
Doesn't view. It's not just the US dollar
9:28
anymore, they. Necessarily, they don't
9:29
necessarily want, do you think? Russia is rushing to the US
9:33
dollar right now because of all the craziness going on in the.
9:37
What about Saudi Arabia? We know.
9:40
We know. Hello, Jake's custom parts.
9:42
Good to see you, Mary Radcliffe. I'm sorry, I got off.
9:45
Track I like to say hi to you guys, but anyway, we know right
9:51
those. Countries don't want to.
9:52
It's changed. Something has changed when we
9:55
went from being unipolar, the United States ruling the world,
9:59
to multi polar now when big events.
10:02
Happen instead of people rushing and.
10:05
Flocking to the US dollar and flocking to the Treasury bonds?
10:08
Not. That that's not going to happen
10:10
to a certain degree, but now. A lot of these countries, they
10:15
don't want to buy dollars they don't want to buy.
10:18
What options do they have? Think about this.
10:21
Put on your thinking cap if you're in Saudi Arabia and you
10:24
think, oh boy, the the poop's hitting the fan.
10:27
Baby, we got trouble in River City, right?
10:30
What are we going to do? We need to move our investments
10:33
to more safe options. Well, we don't.
10:34
Want to buy dollars? We know they're going down in
10:37
value. We know the United States can
10:40
seize them if they don't. Like us, we don't want to buy
10:42
Treasury. Same thing there.
10:44
What are these countries? What?
10:45
What's the safe haven? It's not the Chinese yuan.
10:49
No. It's not the Japanese yen.
10:51
It's not the euro. Bureau Duro no.
10:55
What are they going to do with their money?
10:57
What's the most liquid form? What's the time tested safe
11:02
haven asset? They don't want to buy dollars.
11:05
Right. We know that.
11:06
We know the world is de dollarizing.
11:08
Okay, we. Don't want to buy Treasury?
11:10
What are they going to buy? Come on, think about it.
11:13
It's going to push more money into precious metals, guys.
11:18
I had not thought about that. I don't know if you thought
11:21
about that, but in. In this context, if this had
11:24
happened 20 years ago. Everybody in the world runs the
11:27
dollars and treasuries now. Not as many people run to to
11:32
dollars and treasury and the people that.
11:35
Aren't are looking for a safe haven again?
11:39
What's been the safe haven asset that not?
11:42
Just you yes you. Not just you, but your great,
11:46
great, great, great, great, great, great, great, great,
11:49
great to the 90th degree Grandpa could rely on.
11:52
Do you think? Silver and gold.
11:55
Right. Did that bill.
11:56
But it gets crazy, guys, so we have more money coming.
12:01
But we get it gets absolutely crazy when you consider that it
12:06
just takes a little bit of that money coming in to basically
12:11
completely drain. Liquid Drano, right?
12:16
Liquid Gold Drain the. World of its silver supply and
12:20
its gold supply, right? I mean, I hadn't thought about
12:25
that. Have you thought about that?
12:27
Where? Where?
12:28
Where's the now that the world doesn't want to run to dollars?
12:31
Where are they going to run again?
12:32
They're not going to run to yen, EUR yuans or Australian dollars.
12:37
No offense to all our viewers in Australia or Canadian dollars.
12:40
No offense or Mexican pesos. No, they're not and they're.
12:45
Not going to go. They're they're going to go to
12:47
gold and silver. You know, you're talking about
12:49
the world being drained of gold. I want to mention this quickly.
12:53
Very quickly. OK, couple things, #1 China.
12:57
Do you realize that if just 10% of the Chinese population not
13:03
1.4 billion? Just 140 million and you check
13:08
me on this. If I'm wrong check me.
13:10
I'm. I'm.
13:11
I'm. I.
13:12
Make mistakes, but I think this is absolutely accurate.
13:15
I do have a degree in accounting from A.
13:18
Prestigious university and I did work.
13:22
For almost a whole year for one of the big four accounting firms
13:25
and I quit. They didn't fire me, believe it
13:29
or not, anyway. Just 10% of the Chinese
13:33
population. 10 percent, 140 million of.
13:38
If they bought 1 gram of gold, you know how much A.
13:41
Gram of gold cost if you convert some of.
13:43
Your Unicorn fart? Best U.S. dollars to gold.
13:46
A gram of gold will cost you about $64.89.
13:50
Okay. 1 gram 10% of the Chinese population. 1 gram of gold per
13:55
month. That would suck in almost like
13:59
46.8% of the world's annual gold production.
14:06
Guys, it doesn't take what I'm trying to demonstrate for you in
14:09
very clear terms, as clear of terms as I can.
14:14
Is the fact that it doesn't take much at all.
14:18
For the gold supply? And what about silver and the
14:21
silver supply? To get sucked out and there be
14:25
nothing left. Remember what happened during
14:27
the banking crisis back in March and April?
14:29
It was all gone. Where did all the silver go?
14:32
It became like Bitcoin. You couldn't get it.
14:35
It was imaginary. You could put it in order.
14:38
You could buy some digital silver, but you couldn't find
14:41
any real silver or real gold. I think you could find some
14:45
gold. I may be exaggerating.
14:47
I can be prone to. A bit of exaggeration, so bear
14:50
with me. What I was what what we're
14:52
trying to demonstrate. Here is.
14:54
It's a big deal and I appreciate, appreciate this
14:57
Vince latchy guy. I really like him.
15:00
He is smart. LACCI again, that was on Arcadia
15:04
Economics. I'll.
15:05
Give credit where credit is due, Okay and.
15:08
Absolutely. What?
15:10
Something. Just that that I think every
15:12
silver and gold. Investor has to realize that now
15:14
that. The world has changed.
15:15
Bifurcated. Remember we learned that fancy
15:18
words. Some of you new basement
15:19
dwellers? That's part of the that's part
15:22
of the basement Dweller verbal assault tool bifurcation.
15:29
That means like splitting. So we could just say splitting
15:31
now that the world is splitting. That other half, they don't want
15:35
to buy dollars or treasuries, That's the big deal.
15:38
And what are they going to buy? They're going, they're not going
15:40
to buy each other's. No, they don't trust each other
15:43
either. They trust each other less than
15:45
they trust the United States, but nonetheless, they're going
15:48
to move to the metals. And boy, I'm telling you guys,
15:51
it could be huge. And so we got more to cover.
15:55
Oh my gosh, we got. We got more to cover.
15:59
OK. All right, we're let's we're
16:01
going to talk about the Fed next, but first.
16:02
I want to tell you, yes, you thanks for being here in the
16:06
basement, right? We love to talk.
16:07
About silver. Gold, The precious metals.
16:10
I made some gold potatoes over the weekend.
16:13
I told you guys, my 80. 3 year old dad who's very honest with
16:17
me said they were the. Best potatoes he ever had in his
16:20
life. Roasted yellow golden potatoes.
16:23
And you know what? The.
16:24
Secret was. Right here I here, I got it.
16:27
Weber Herb Garden Okay. And you know, I'll call my.
16:32
Dad, we can. I'll prove it to you.
16:35
Roasted. Yellow potatoes with a little I
16:38
use canola oil because I'm too cheap to use olive oil.
16:42
I'm Frugal said. They were the best potatoes he
16:45
ever had in his life. Check it out.
16:47
Give it a shot. It's easy easy peasy recipe.
16:52
Back to gold. Back to silver.
16:54
Let's talk about the Fed. What would it mean?
16:58
What? What do you think it would mean
16:59
if the Fed officially started to pivot?
17:04
And I've got some news I want to read to you here that it's
17:07
making things very interesting, and then I'm going to tell you
17:10
what I think is going on with the Fed and what it means.
17:14
For the price of silver and gold as we move into the coming
17:17
months, quarters and years here. This is from.
17:21
This is from Bloomberg. What Cracked the Bloomberg
17:25
Dollar index? Thank you, Henny.
17:26
For that super chat. Wow, Henny.
17:29
Guys, I want to make it real clear to super chats are
17:32
awesome. Then I'm going to go to the Fed,
17:35
right? That's a way you can help
17:36
support the channel. That's great.
17:38
I appreciate it. It's never expected.
17:41
OK? Always appreciated.
17:43
I give all my content. Away for free this you don't
17:46
have to donate anything. I do have sponsors, right?
17:50
First mining gold pin. Weber's helping us out so but
17:57
the Super Chats go a long way to help support the channel, but
18:00
it's never expected. Please never donate anything
18:04
that you can't afford or anything like that, but when
18:06
they do. They help out, right?
18:08
Because we're we're, we're supporting the family with this
18:11
channel. So thank you.
18:12
I just wanted to say that number one, thank you now.
18:15
I got to ring the cowbell, then we're going.
18:18
To talk about the Fed, but first the infamous 200 thumbs up
18:24
cowbell right on top of Pinback. Don't forget, if you want to get
18:33
yourself some gold, silver or platinum, go to the best place
18:36
in town. Where is it?
18:38
Pinbacks. Pi.
18:39
BEX pinbacks. Look, you're going to find.
18:43
They got the best prices, the best service, They're
18:46
trustworthy. That's what I think you're going
18:48
to find out, because that's what I found out and I'm a very
18:51
indepth researcher before I do anything and I.
18:53
Bought silver from Pembex before they sponsored the channel.
18:58
So I'm a customer. I'm a half happy customer.
19:01
If you're looking for metal, throw them into the mix.
19:04
I think you'll be very happy. Now, what's going on with your
19:08
own? Should we get your own here?
19:09
Let's see here, It's been about a week.
19:12
He needs a little air. Do not enter Hey.
19:18
It's Jerome, and look who's in there with them.
19:20
His favorite the little Unicorn Unicorn fart dust machine.
19:25
OK. What's going on with the Fed
19:27
that's going to have a big impact on the silver and gold
19:29
price? I'm going to buckle down here,
19:31
so stay with me, OK? Multiple fed speakers.
19:37
Such as Dallas fed Lori Logan? Yes, that Lori Logan.
19:42
Did you go to high school with her and and fed vice chair?
19:47
Whatever a vice chair is, but the Fed vice chair Phillip
19:51
Jefferson. I bet he went to a nice.
19:54
Private high school. He was echoing.
19:57
They echoed. With the San Francisco weather
19:59
his name in the. Whole might as.
20:00
Well, just say the whole darn Federal Reserve.
20:03
At this point, San Francisco Fed, Mary Daly said on Friday.
20:06
Here's the key. Listen up.
20:08
Listen up. Listen up suggesting that
20:13
soaring, soaring 10 year yields, the term premiums have done the
20:21
feds tightening job for them and no more hikes are coming.
20:28
No more hikes are coming. No more hikes are coming.
20:33
No more. Hikes are coming.
20:38
This is how UBS is trading desk UBS, You know, one of those
20:42
fancy financial services firms, This is what they said, they
20:45
said. Fed Vice Chair Phillip Jefferson
20:49
sounds. Dovish.
20:52
Sorry, I'm yelling. He said he will remain cognizant
20:55
of tightening financial conditions.
20:57
Through higher bond yields, and we'll keep that in mind when.
21:00
Assessing the future path of policy.
21:04
Also also also, he said the Fed is in a sensitive period of risk
21:12
management. All the.
21:13
Feds in a real sensitive period to Rome.
21:17
I thought he looked like he was crying a little bit when we got
21:20
him out where they may. Have to balance the risk of not
21:25
having tightened enough against the risk of policy being too
21:31
restrictive. You know what?
21:33
That's a fancy way of saying the feds in a box.
21:36
I told you, got we. We talked about this four months
21:39
ago when I put your arm in a box.
21:41
They're in a box. They got a recession on one side
21:45
of the box and they got inflation on the.
21:47
Other side of the box and when you put those two together, what
21:51
do you get? You get stagflation and when you
21:53
get. What do you get?
21:56
You get skyrocketing precious metals prices, unfortunately.
22:01
Most people are not in tune. Like we are.
22:05
Period. OK, most people are not in tune,
22:09
all right? In harmony with us.
22:11
I won't sing today, but when they catch on the other.
22:17
People they're like, they're like it it I don't know how to.
22:21
Say this like they're asleep, OK?
22:24
And when they. Start to wake up like the people
22:26
in Japan did, like a month and a half ago when they.
22:29
Started to wake up and say, oh, I need to buy some gold.
22:33
It's going to be a mad rush because what we're hearing now
22:36
out of the Fed is distinct. Clear.
22:42
I can't think of another word, communications, to tell us that.
22:49
Oh, we're in a little bit of a pickle here guys, so we want to
22:54
communicate with you that. Quite simply, we might have to
22:59
pivot basically and when, when. Everybody else wakes up to
23:03
what's going on. We aren't even talking about.
23:06
All the sheeple we're talking about the, the smart segment of
23:09
the sheeple that actually kind of.
23:11
Sort of follows What's going on that you don't?
23:14
That here's a good way to the people who spend an hour a day
23:17
watching CNBC. And that's their only source of
23:20
financial information when that segment and that's maybe like
23:25
6.4% of the US population. Wakes up to the fact that we got
23:29
stagflation. We got big problems right now
23:32
here in this country. They're all there.
23:36
And I'm absolutely the Costco indicator.
23:41
That's what I'm calling it. The Ron's basement Costco
23:43
indicator absolutely indicates that that movement is starting
23:49
to percolate. It's starting to percolate.
23:51
It's like watching water boil. For us, because we know, right?
23:56
We're watching it and it's like, when is it ever going to boil?
23:58
Well, the little. Bubbles are starting to come up
24:01
OK. The little bubbles are starting
24:03
to come up. It's going to happen, and it's
24:06
going to happen before we know it.
24:08
Did you hear I had the? But I had to pack my other my
24:13
other display away. So I'm going to do this off
24:15
memory. But JP Morgan, you know what?
24:19
What do we what do you what do we know about JP Morgan that
24:22
they have manipulated suppress the price of metals forever.
24:26
Goldman Sachs, they're in the same category, right.
24:30
In Bank of America they're not much better.
24:33
We don't like well, I can't speak for you, but I don't like
24:37
the big banks. I don't think they really act in
24:39
the best interest of their. Customers or the United States?
24:43
I think they're greedy. Uhhuh.
24:45
Yeah. And I think.
24:46
They caused the great financial crisis and they didn't have any
24:49
consequences for it and I'm still mad about that on top.
24:53
Of about 68 other things I'm mad about, Okay.
24:57
But but hello Sir, Sir, thank you.
25:00
So Sir Stan, thank you guys for the Super chats.
25:03
Super appreciated, never expected now.
25:08
But recent news? OK.
25:10
And this? There's a there's there's a part
25:12
of this that is just unbelievable, OK?
25:14
These companies that manipulate the price of silver and gold, do
25:18
we trust them? JP Morgan, Goldman Sachs and
25:20
Bank of America basically fined for cheating their high.
25:25
End customers on the swaps arrangements.
25:28
Swaps are like, you know, these fancy financial kind of like
25:33
derivatives. But swap market is they, you
25:36
know? It's it's very complicated but
25:38
it's for their. Their high end customers?
25:42
Okay, they aren't, you and I. Don't do swaps.
25:45
Okay. We may swap.
25:46
Friendship. We may swap a smile.
25:50
Come on, smile. Feels good and give me a thumbs
25:53
up, man. That helps and double feel good.
25:55
Smile and thumbs up. But.
25:58
But what we know, OK? Is that they were required to
26:03
report certain information to their swaps customers and they
26:06
didn't report. It they didn't report it to the
26:09
CFTC. And what's unbelievable, and
26:12
there's a lesson in this that I'm going to give you at the
26:15
end. Sorry I pointed at you.
26:16
I point you again. There's a lesson.
26:19
There's a lesson. You listen right now, Goldman.
26:23
They said. The CF said that the Goldman
26:25
Sachs had over a million, a million, a million violations.
26:34
OK, of this over a million times, they basically broke the
26:40
law. Goldman Sachs now.
26:42
Here's the lesson. When we're talking about JP
26:45
Morgan, this is, this is. I'd be curious how you feel
26:47
about this, but I think what is this telling us?
26:50
And it's this if they're willing to cheat their high end
26:56
customers. Right.
26:57
The guys that do the swaps, that buy the swaps and all that.
27:00
What do you think they're doing to the average Joe?
27:03
Do you think they'd be? Oh no, we'll just.
27:05
We're we're going to steal from the rich and give to the poor
27:08
the Robin Hoods, do you think? No.
27:11
No, no, no, no, no no. If they'll steal from their high
27:16
end customers, you better believe they'll stick the screws
27:19
to you and me in a heartbeat and not feel one iota of remorse.
27:25
I'm sorry. But that's just the way it is.
27:28
You know these people I'm. Going to call it like I see it
27:31
and that's OK. You don't have to believe.
27:33
I don't care if they're mad at me.
27:34
They send me a letter saying you said bad things about Goldman
27:38
Sachs. We're mad at you.
27:39
Please stop. No.
27:41
You know, if they're willing to. Put the screws to their high end
27:45
customers. What do you think they're going
27:47
to do? These are the companies that
27:49
were the JP Morgan, our government, if the government.
27:53
If the government could successfully prove.
27:58
That they were. That they were.
27:59
That they were manipulating the. Price of precious metals for
28:02
decades Get a conviction sentencings.
28:05
I think they already sentenced those guys as well, you know.
28:09
What do you think's really going on?
28:12
That's the tip of the. Iceberg baby, ice ice baby.
28:16
That's the tip of the iceberg. It's like when Jerome Powell
28:20
talks, he's giving you the tip of the iceberg.
28:23
I wonder what they're talking about at the Fed right now.
28:26
You know, behind the scenes. They're scared.
28:28
You know this. This is new, new territory for
28:32
them like they have never seen before.
28:35
All right, we got more to talk about.
28:37
We're going to talk about the we're going to get sophisticated
28:40
the pin Wharton. I got to read this.
28:44
University of Pennsylvania had something to say about the state
28:49
of the United States fiscal situation, and this absolutely
28:54
has everything to do with the future of the gold and silver.
28:57
Price Let's all have a little break and drink.
28:59
Take a sip of coffee and I'm going to also be waiting for us
29:02
to get the 300 thumbs up. Thank you all, almost 500 of you
29:07
for being here this morning by the way, Has anybody?
29:20
Found the hot dog yet I I wasn't paying attention.
29:24
Does anybody see the hot dog I hid.
29:26
The hot dog I hid, I hid my Weiner for you.
29:30
It's in Plainview if you could see.
29:32
IT Hello Annie Oakley. Hello Cohen Shop Chris Jake's
29:35
custom parts. Thank you.
29:36
To thank you shadow work for the Super Chad.
29:38
Thank you to all you guys. Rich, Clark, everybody who's
29:42
here, OK and supporting the channel.
29:45
Susie and I. And yes, we do support our
29:48
family off this channel. It's an interesting way.
29:52
You never know. What can happen?
29:53
Let me let me let me briefly say this guys.
29:55
You never know what can happen in life.
29:57
I'm 53 years old. If 30 years ago you would have
30:00
told me that I would have this awesome experience connecting
30:04
with people like you all over the world, right through my
30:09
basement, through a but I'll be honest with you, you can
30:13
probably tell I don't have the world's most expensive camera
30:17
and a nice little microphone. I wouldn't have believed it.
30:19
So you never know what can happen in life.
30:21
Interesting things can happen, but you're not here to hear me
30:25
reminisce or or talk sweet or anything like that.
30:28
All. Yes, you guys found it.
30:30
There's the Weiner. There's my Weiner.
30:34
I'll try to hide it. Next time we're going to talk
30:38
about the Penn Wharton University of Pennsylvania.
30:44
And they said something that should scare the live in dot
30:47
daylights out of any American, anyone who cares about their
30:51
children or grandchildren or anything like that.
30:54
This is not not very pleasant to hear, but there's something in
30:58
here that again, it was new information to me and it we
31:02
always want to consider. Both sides of the coin, pardon
31:05
the pun, and I'll explain that to you here.
31:07
Let me read this to you. The PWBM, Penn, Wharton, by
31:12
whatever. Even under myopic expectations,
31:16
financial markets cannot sustain more than the next 20.
31:22
Years of accumulated deficits projected under the current US
31:26
fiscal policy that we cannot go on the way we're going on
31:31
forward-looking financial markets are therefore
31:33
effectively betting the. Future fiscal policy will
31:37
provide substantial corrective measures ahead of time if
31:41
financial. Markets started to believe
31:44
otherwise. OK, it's a con game.
31:47
The Fed is a con game. Confidence.
31:50
If markets started to believe otherwise, debt debt dynamics
31:56
would, quote UN quote, unravel and become unsustainable much
32:01
sooner, says the US. Public debt is over $33
32:05
trillion. But it's that's largely
32:08
misleading. Okay, this is interesting.
32:10
This is interesting. Because it includes almost 7
32:15
trillion that the federal government, quote UN quote, owes
32:20
itself. Due to trust fund and other
32:23
accounting, which I don't really understand, but I'm going to
32:26
believe. These guys because they're the
32:27
Penn Wharton, PA. Whatever School of Business the
32:32
economics profession has long focused on.
32:36
Debt held by the public. Oh, don't forget, before we're
32:41
going to stay on track. Suzy's getting mad at me for
32:43
getting off track, but I got one more thing about the silver
32:46
market in particular and the gold market.
32:49
That's the double whammy. Knock your socks off.
32:52
We're going to talk about after this because there's something
32:54
very interesting that everybody forgets about and is great news
32:59
for the market, OK? Everybody's focused on debt held
33:03
by the. Public currently equal is equal
33:06
to 98% of GDP26 billion. So that part of the national
33:11
debt that the government apparently owes itself, when you
33:13
take that out, our debt to GD. P is still at about 98.
33:16
Percent This says we estimate that the US debt held by the
33:20
public cannot exceed 200% of GDP.
33:24
Even under today's generally favorable market conditions.
33:29
Larger ratios in countries like Japan's able to do it because
33:32
everybody has savings saved up under current.
33:35
Policy the United States has about 20 years for Corrective
33:40
Act action, after which no amount of future tax increases
33:44
or spending cuts could avoid the government defaulting on its
33:48
debt. So basically what they're
33:51
telling us is under the best of circumstances, the best of
33:56
circumstances, we got 20 years the.
33:58
Talk is the talk is clicking. The talk is clicking.
34:04
The clock is ticking. The OR is it the talk?
34:07
We're going to say the talk is clicking, the talk is clicking,
34:10
we're in trouble and that's under the best of circumstances.
34:14
Basically what they say is once the market loses confidence and
34:19
think about the major things going on in the world, right,
34:23
that's when. That's when the debt collapses.
34:27
That's when potentially, potentially the dollar
34:32
collapses, OK, it's going to happen in 20 years and if
34:36
everything remains? Rosy but Black Swans, right?
34:40
The world changing, becoming multi polar.
34:43
That's when the dollar can collapse, that's when the debt
34:46
can collapse. That's when a loaf of bread cost
34:50
you $15.00 at your local. Grocery store.
34:53
But you're okay because you have a couple ounces of silver that
34:57
are now worth in. Dollar terms $150.00 per oz.
35:01
Okay, because you knew you. Decided to protect yourself.
35:05
Okay. Now, now, now when we look at
35:10
this scenario again, that's based upon confidence being
35:14
lost. All right, we got 300 thumbs up.
35:17
I'm going to ring the bell with my nose.
35:19
And then we got the the great the big feature something that
35:24
that that I. Haven't heard people talk about
35:26
anybody talk about for maybe a year that is still definitely in
35:30
play and still absolutely points to fertile, fertile environment
35:37
for the silver and gold price going forward 1-2.
35:50
Let's get a last one. Good, Okay.
35:53
Three rings of the bell with my nose.
35:55
You know, that's a tradition here in the basement.
35:58
So I was reading yesterday. We know the situation with the
36:03
silver market, in particular the amount of silver.
36:06
That's was produced last year was a decrease.
36:09
That's from the Silver Institute.
36:10
We know they're even projecting this year, even less silver is
36:14
going to be produced. Gold is roughly in the same
36:18
environment. I'm not.
36:20
Absolutely sure. What the gold numbers are.
36:22
However, however, we haven't heard this talked about and it's
36:27
a it's something that's going on right now.
36:31
I read it in a piece of analysis from one of the top analysts.
36:34
Nobody's talking about this. Remember the term peak oil,
36:38
right? Like the world oil production
36:40
had peaked and now it's going down.
36:43
We have also likely reached peak silver in particular, and as we
36:49
move into these next 10 years, I know it's a simple.
36:52
Broad term, but nobody's talking about it anymore as we move into
36:56
these coming 5-10 years peak Silver Peak.
37:00
Oil That was real popular, right?
37:03
And it for a little while we heard about peak gold and peak
37:06
silver. But we most likely have
37:08
absolutely reached peak silver. Think about it.
37:13
The numbers right now are decreasing.
37:16
But what's even more important is what's in the pipeline,
37:22
what's being fed into the future development numbers for Silver.
37:27
And it takes just a quick glance to realize that nobody.
37:32
Very few companies, very few. And I've been buying some
37:35
lately. I bought some Capitan Silver.
37:40
What's the other one? Silver Mountain Summa Silver.
37:44
Made some wood for me, you know. Starter positions.
37:47
There's very few companies out there that are developing pure
37:51
or exploring for pure silver projects.
37:54
I mean, feels like a handful, so.
37:58
As as the current production is going down, down, down in the
38:02
few. Companies that actually do
38:04
produce silver right now, right? First Majestic Fortuna, which
38:08
has become more of a more of a gold mining company, right?
38:13
Is there productions going down and they?
38:16
Don't have a pipeline of new projects coming in while
38:20
simultaneously, simultaneously everybody is saying demand for
38:26
silver is going. Up, up, up.
38:29
Guys, it paints a very supportive picture for the
38:34
silver price going forward. Look, we don't know.
38:36
We don't. We don't have crystal ball, but
38:38
we can. Look at the big facts, the
38:41
numbers and the numbers say, yeah, we need all.
38:45
This extra silver For the solar industry, for the defense
38:48
industry, for everything else, OK, And then we can.
38:51
Look and say OK, where's that silver going to come from?
38:53
There's the pipeline of. Future projects is like a
38:56
trickle. We need a big flow going through
39:00
the pipeline. To supply what the demand is
39:04
that we have coming in the future but the but the pipeline
39:08
is just a trickle. Right.
39:10
They got the valve as open as it can be, but there's nobody
39:14
putting anything into the pipeline because it doesn't make
39:16
economic sense. The only thing, the only thing
39:21
that's going to fix that? Is price, Is price our value,
39:26
you know? That's so much price because
39:28
silver, you know, the dollar could collapse and silver could
39:30
go to 160 dollars. But if it still cost 170?
39:35
To get it out of the ground, well, that's not going to fix
39:37
it. It's the relative value of
39:39
silver that we talked about so often that Will.
39:42
Fix that situation and nobody's talking about.
39:46
Peak Silver and have we reached peak?
39:49
Silver, a lot of people think that we have, Yeah.
39:53
And and and if you think that they're going to find more.
39:55
They're you. They can't turn the spigot on.
39:58
It doesn't work that way. All right, guys, thank you for
40:02
being here today. I want to say hi and thank you
40:04
to all the moderators. Jake's here and he's here.
40:07
Jim M is here. Of course.
40:09
Of course. Coin Shop.
40:11
Chris is here. You're here, right?
40:15
You want to say hi? You know what?
40:16
I. Haven't done this for a while.
40:18
Tell me where you're. Joining us from and I will do my
40:21
best. Thank you Sassy Silver.
40:23
Hey Ricky's House of crap. Good to see you Jake's Custom
40:26
Parts. Guys please say thank you to.
40:29
All the moderators, they do an awesome job to make this happen.
40:32
OK, The Lone Ranger knows the value of Silver.
40:36
Washington State quench up Chris is on the moon.
40:39
I'm going to say as many. As I can Ireland, Paducah,
40:43
Arizona, Well my Gas Jacksonville, MO.
40:47
Trenton, Aston, PA Vernon, BC, Missouri.
40:50
Down the road, Texas Springs, Arizona, Nova Scotia.
40:55
New York City. Think of where we're all.
40:58
From Nottingham, England, that's awesome.
41:01
But by Sun City, Arkansas she over shortage basement dwellers.
41:07
Oregon, UK for my sons. Good to see you my friend.
41:10
South Dakota, West Virginia. Atlanta, Sweden.
41:13
Minnesota, Southern California. Jim and my friend, Louisville,
41:18
Nottingham, Swampy Florida, Ontario.
41:22
Canada the moon. Bye Mary guys.
41:25
This has been awesome, Vancouver.
41:29
I'll see you tomorrow morning. Have a good day, OK?
41:33
You are important and you're a big part of the basement.
41:37
Basement dweller. Have a great day.
41:39
I'll see you soon.