Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨SILVER Stackers!🚨 - Massive UPDATE! - (Gold Price NEWS)

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🚨SILVER Stackers!🚨 - Massive UPDATE! - (Gold Price NEWS) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  We have breaking news out of China about gold.
• 0:03
  Also $50 plus silver. A call from the most unlikely
• 0:09
  source, the last place that we would think talking about $50
• 0:13
  plus silver. We're going to cover all that
• 0:16
  and more. Thank you for being here.
• 0:17
  Thanks for joining me here in the basement.
• 0:20
  This is all about us. We love precious metals.
• 0:23
  We love non Fiat based investments.
• 0:26
  It's a big deal when you're here.
• 0:27
  Please subscribe to the channel. We still have our annual sale
• 0:31
  going on. It's free to subscribe.
• 0:34
  We want you to come back. You're part of the group.
• 0:36
  Thank you for being here. Let's start out by talking about
• 0:40
  affluent investor, OK? Think about rich people, right?
• 0:43
  The rich people tend to make better financial decisions.
• 0:47
  That's how they got rich, right? Well, listen to this big news
• 0:50
  out of Kitco and then we will get to the China news.
• 0:54
  But our friends over at Kitco, hold on one second here guys.
• 0:58
  Looks like we might be having some technical problems.
• 1:02
  Hello, can you hear me? Hello.
• 1:04
  Hello. Hold on one second and let's
• 1:10
  make sure we're up and running, OK?
• 1:13
  Yeah, affluent investors, I believe you can see me and hear
• 1:16
  me from Kitco, are more than doubling their gold holdings.
• 1:20
  50% look to own gold in the next 12 months.
• 1:26
  That's according to HSBC. Central banks have attracted
• 1:30
  significant attention for their appetite for gold.
• 1:33
  They are not the only buyers in the marketplace.
• 1:36
  Affluent investors, those with at least $100,000 in assets, are
• 1:41
  also showing increased interest in the precious metal.
• 1:45
  Breaking down the data further, affluent investors increase
• 1:48
  their gold exposure to 11%. Wow, that seems high to me.
• 1:53
  A rise of 6 percentage points from last year alone.
• 1:57
  That is shocking. OK.
• 1:59
  Similarly, cryptocurrency holdings rose to 7%, up three
• 2:03
  percentage points from the same time last year.
• 2:06
  And when we look at this chart, what is this chart of gold show
• 2:10
  us from our good friend Rashad? Gold is trading at the apex of a
• 2:14
  three month formation and and I would say a breakout is close.
• 2:19
  Now we did have a little bit of a false breakdown on this, but
• 2:25
  hold on guys, sorry. We're getting some some static
• 2:28
  coming through the system. Let me know in the comments if
• 2:30
  you can see and hear what's going on.
• 2:32
  I would appreciate it. But here's here's this chart
• 2:36
  from Rashad showing us a wedge. Some people call this a wedge
• 2:39
  pattern. Some people call the triangle
• 2:41
  pattern. The thing about this pattern is
• 2:43
  it will break one way or the other.
• 2:46
  OK. When you look at what is
• 2:48
  happening on this pattern, we are coming into this area, it
• 2:52
  will either break up or it will break down.
• 2:56
  And when we look at the kind of current macro environment,
• 2:59
  everything that's going on out there, I think most of us are in
• 3:03
  agreements that it's more likely to break that way through the
• 3:09
  up. So we'll keep a close eye on
• 3:11
  that. Let's talk about this big news
• 3:13
  out of China. We know the world of precious
• 3:16
  metals is changing like never before, right before our very
• 3:20
  eyes. OK, the, the, the price
• 3:23
  discovery 4, silver and gold are moving to the east.
• 3:27
  And we get breaking news this week out of China.
• 3:30
  We're going to go to our friend, the Oriental Ghost here, who
• 3:34
  shares with us the following chart.
• 3:38
  OK? The People's Bank of China, the
• 3:40
  P back has increased its holdings of gold for the 8th
• 3:45
  consecutive month in June, the increase in holdings of 700,000
• 3:51
  ounces of gold, approximately 2 tons.
• 3:55
  Now, he's also our good friend. Let's just let's go out to his
• 3:58
  profile here real quickly and just do a quick update.
• 4:01
  We need to run out and take a look at the gold and silver
• 4:03
  prices because they were bouncing back today.
• 4:07
  Now here we go. This is the Shanghai Gold
• 4:09
  Exchange and as you can see, as of yesterday, the silver price,
• 4:15
  which is AG on the Shanghai Gold Exchange was quoted at $38.34.
• 4:24
  Let's run out to, let's run out to CNBC and see, get an update
• 4:34
  on the silver price. We're at 3670 in the United
• 4:39
  States in the futures market down a hair, down $0.05 per oz.
• 4:44
  We got some fascinating silver charts to look at and also who
• 4:48
  said silver over 50, over $50 per oz by year.
• 4:53
  And but look at gold green, $2.70, so $36.70 here in the US
• 5:03
  and $38.34 on the physical market.
• 5:07
  The Shanghai Gold Exchange, which is a physical silver
• 5:12
  market has a price of almost $1.50 per oz higher than the
• 5:18
  futures market, which is always higher than spot in the United
• 5:22
  States. OK, one more thing on gold and
• 5:25
  then we're going to shift over to silver.
• 5:27
  Real interesting parallels being drawn.
• 5:29
  The last time the gold moved like it has was 1929.
• 5:34
  That was Alastair McLeod talking about why he believes the
• 5:37
  current environment is very similar to 1929.
• 5:40
  Or right, God forbid the D word. Heck, we can't.
• 5:43
  We're not even allowed to mumble the R word recession, but a
• 5:47
  great right before the start of the Great Depression, things
• 5:51
  have been very Things have been compared recently with the C-19
• 5:55
  crisis to other periods in the past when the gold price went
• 5:59
  through the through the roof. But here the last paragraph.
• 6:02
  But these days the price of gold is nearly doubled since the
• 6:05
  start of C-19, so there might very well be something to
• 6:09
  Mcleod's idea. Rather than buying into the
• 6:11
  narrative that reopenings prevented a 1929 style economic
• 6:17
  environment, McLeod thinks we are merely in the opening acts
• 6:21
  of a new global economic depression.
• 6:25
  Hold on one second here. All right guys.
• 6:29
  And when we think about, we're going to touch on this briefly,
• 6:33
  but when we think about comparing the current
• 6:35
  stagflationary environment that we are in right now to the 1970s
• 6:40
  when the price of gold and silver went up like 1520, I
• 6:44
  think silver 27 times more per oz.
• 6:48
  When we compare right now to the 70s, it is very similar.
• 6:52
  However, there's a kicker, there's a bonus, right?
• 6:56
  And that bonus is that we have never had a national debt level
• 7:01
  like we've had like we might now at that time in the past, like
• 7:05
  it. What makes things even more
• 7:07
  egregious, even more exaggerated is the fact that we've got a
• 7:10
  national debt that is just, it's, it's insane.
• 7:13
  It's crazy, right, $37 trillion. So buckle up.
• 7:17
  People are comparing this current environment to the 19
• 7:20
  late 1920s before the onset of the Great Depression.
• 7:24
  But we can also easily compare it to the 1970s with
• 7:28
  stagflation. And we are in deep, deep from a
• 7:31
  fiscal perspective in terms of what our government has done
• 7:35
  managing our our situation. Last final situation with with
• 7:40
  gold that we want to talk about. People are always talking about
• 7:43
  gold being remonetized. It's happening guys.
• 7:46
  Gold is, is becoming the basis, Gold has always been the basis
• 7:52
  of the world's financial system. There's brief mirages that go
• 7:56
  on, but what we're seeing right now from the world's central
• 8:01
  banks indicates to us that gold is indeed being re monetized.
• 8:05
  The value of gold, the value of silver in that same white right,
• 8:10
  the value of this right as measured in U.S. dollars is the
• 8:14
  unit of measures is going up and up and up.
• 8:18
  I will argue that we are indeed already seen a quote UN quote,
• 8:23
  I'll say not return. Why don't we use the word
• 8:27
  refreshing of the gold standard of the silver standard.
• 8:31
  It's happening right before our very eyes, right?
• 8:34
  And now we have things like crypto that are thrown into the
• 8:37
  mix. It's a very, very interesting
• 8:39
  time to be alive. Now if you're interested in
• 8:41
  getting your hands on some of this, that's a one ounce silver
• 8:45
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• 8:50
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• 8:53
  Wrong hand Ledger is not is our is our cryptocurrency hardware
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  wallet sponsor. The silver comes from first
• 9:02
  mint. First mint is a is a silver mint
• 9:05
  located in Las Vegas, NV. They're owned by first Majestic
• 9:10
  silver. OK, so first Majestic Keith
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  Newmeyer silver company mine silver in the ground in Mexico.
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  It didn't get shipped to Nevada where it is minted and turned
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  only Firstment has to offer. The other unique thing about
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  Firstment is they are literally from the mine to the meant to
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  you. There's no COMEX, there's no
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  LBMA involved in these products that they're producing on the
• 9:39
  other side of this Buffalo coin. I've shared this with you
• 9:43
  several times, but that is probably my most favorite silver
• 9:47
  image of all time. Indian.
• 9:50
  I don't know how good you can see the detail in this, but it
• 9:53
  is just absolutely beautiful. I love it.
• 9:56
  OK, They've got great prices, great service, and most
• 9:59
  importantly, it's a company you can trust.
• 10:01
  And as an added bonus, they do have a discount code you can use
• 10:06
  VIP RB. They have silver rounds, silver
• 10:10
  bars, a wide variety of products.
• 10:12
  And again, this is minted in the USA from the mine to the mint,
• 10:17
  directly to you. Let's talk about silver.
• 10:20
  Who said over $50 silver? The most unlikely source.
• 10:24
  I mean, very surprising. I popped this article, popped up
• 10:27
  on my news feed, and I was like, what?
• 10:30
  Right. This is actually from Bitcoin
• 10:33
  Magazine. OK, and it says right here is
• 10:37
  silver set to explode prediction target $50 price tag by year's
• 10:43
  end to talk about how good, how good gold is done.
• 10:49
  But now silver bowls roar $50 target insight is 2025.
• 10:55
  Precious metal trends heat up Silver's currently trading
• 10:59
  around 3637 per oz. Based on the latest market data
• 11:03
  for silver enthusiasts, this range looks like a launchpad for
• 11:07
  bigger moves ahead. And guys, we got a bunch of
• 11:09
  charts we're going to look at here in a second.
• 11:12
  But it says this weekend's boldest call comes from
• 11:14
  Investing Haven, a forecasting site known for its in depth
• 11:18
  projections. The firm now now pegs Silver's
• 11:22
  target at 4820 to $50.25 over $50 per oz by December of 2025,
• 11:31
  a potential 40% jump. They could put Silver back
• 11:35
  within striking distance of its all time highs.
• 11:42
  And then they go on. And again, this is from Bitcoin
• 11:44
  Magazine. OK, talking about other, other
• 11:47
  sources, coin price forecast, right?
• 11:50
  They're saying they see Silver landing at $42.78, another
• 11:55
  $142.44. A cluster of more cautious
• 11:59
  projections have around $40. These include outlooks from
• 12:03
  Citigroup, Saxobank and Gold. Silver's lead.
• 12:06
  Allen's analyst Allen Hibbert, Meanwhile, price prediction.net
• 12:12
  that comes in a bit lower at 3887.
• 12:15
  We know one thing for sure, when the silver price gets above 37
• 12:20
  dollars $37.50, there is very little overhead resistance
• 12:24
  above. You know why, right?
• 12:27
  We got to remember this, it's so critical.
• 12:29
  The reason why silver can go from 3750 to 50 lickety split,
• 12:36
  from 3750 to $45.00 lickety split, right, is because there's
• 12:41
  nobody up there who's waiting to sell at those prices.
• 12:46
  Very, very few people are holding silver that they paid
• 12:50
  $40, forty, $548 per oz. So there's nobody up there.
• 12:54
  When silver gets into those levels, there will not be as
• 12:59
  many sellers and the people that are holding silver will be in
• 13:03
  the green. And to make it even more
• 13:05
  exciting, this unique situation in the silver market, people
• 13:10
  like to buy silver when it's when it's when the price is high
• 13:14
  and when the price is going up. Rick Rule talked about it many
• 13:17
  times, right when silver was 20 bucks an ounce.
• 13:20
  And for those of you who weren't around, we were down here
• 13:22
  together, us in the basement talking about buy silver, buy
• 13:26
  silver, silver. I was pounding the table, right?
• 13:29
  But people don't want to buy silver when it's on sale,
• 13:32
  though, by Rick Rule says tuna fish when it's on sale at the
• 13:35
  local grocery store. But when silver's on sale, they
• 13:38
  won't. They prefer to buy silver when
• 13:41
  it's skyrocketing. So we could be hit by a
• 13:43
  confluence of positive factors, the first of which being that
• 13:50
  there's going to be a lot of people who bought silver in the
• 13:52
  20s and 30s that are going to be in the green.
• 13:55
  When silver gets into the 40s, they're not going to want to
• 13:58
  sell, They don't want to sell, and we're going to get a lot of
• 14:02
  new buyers. And unbelievable to think about
• 14:06
  this. On top of that, we know that the
• 14:08
  data shows that in the United States, the retail investment
• 14:12
  demand has been paltry, has been nothing.
• 14:15
  So it, it shows us, the data shows us that we can have a
• 14:18
  major confluence of factors that could lead to a rapid, rapid
• 14:23
  silver price increase. We'll see how it plays out.
• 14:25
  Remember, I'm not a financial advisor.
• 14:28
  Don't make any financial decisions based on anything that
• 14:31
  I'm saying. Don't buy or sell gold or
• 14:34
  silver, crypto currencies, stocks, bonds, mutual funds.
• 14:38
  Just my opinion, but I have been, I have the right as an
• 14:42
  American to sit down here in my basement and I'm not bragging,
• 14:47
  but every once in a while I am right.
• 14:50
  I have been right about the silver price.
• 14:52
  Woof. OK, let's go out to we got a lot
• 14:55
  of stuff to look at, interesting things for silver.
• 14:58
  Get ready to smile guys, cuz there's a lot of good things
• 15:01
  going on right now. The first chart we're going to
• 15:04
  look at again comes from our friend Rashad.
• 15:07
  Silver continues to trade within a contracting triangle
• 15:12
  formation. The price range is getting
• 15:14
  tighter everyday. This thing is going to explode
• 15:16
  like there's no tomorrow. Let's pull this up and take a
• 15:19
  look. Look at this, right?
• 15:21
  Same wedge pattern that we're seeing in gold again, guys,
• 15:25
  these wedge patterns. As time goes by, as we move over
• 15:29
  here in the coming weeks, this has got to break out one way or
• 15:33
  the other. It will either break out down or
• 15:36
  it will break out up. And again, when we look at the
• 15:40
  macro factors pushing the precious metals, I think the
• 15:43
  odds of an upward breakout are in our favor.
• 15:46
  And again, when we get up into these price ranges of $3839 per
• 15:51
  oz, we just don't have any sellers.
• 15:54
  The other interesting thing that's happening right now,
• 15:57
  which is a very good sign for silver in particulars that we're
• 16:01
  starting to see some optimism when we look at flows into the
• 16:05
  silver ETS. Now, I know a lot of you don't
• 16:08
  like the silver ETS because if you don't hold it, you don't own
• 16:11
  it. And there's a speculation or
• 16:15
  what's the word I'm looking for? Well, there's people who think
• 16:19
  that maybe sometimes, possibly those big silver ETFs from the
• 16:24
  United States don't actually own all the physical silver that
• 16:28
  they purport to own. I'm not saying that.
• 16:31
  I'm just saying that there's some people who have definitely
• 16:34
  said that in the past. OK.
• 16:36
  Can silver reach, how about a mania phase in silver?
• 16:41
  And we're going to look at the reasons why mania in silver.
• 16:45
  Interesting piece of analysis here that is new to me and very
• 16:49
  well may be new to you as well. This comes from talk markets and
• 16:53
  what they're talking about in this is they're talking is that
• 16:57
  basically when you look at the Dowdy gold ratio historically,
• 17:01
  Let me pull this chart up for you on a historic basis.
• 17:06
  OK, this bottom part down here. Let's see if I can draw on here
• 17:10
  for you. This bottom part of this chart
• 17:14
  is the Dow to gold ratio, OK? What that shows is how many
• 17:20
  units of gold does it take to buy one unit of the Dow?
• 17:24
  So if the Dow's at, let's say 30,000, at the Dow's at 30,000,
• 17:32
  and the gold prices at 3000, that ratio would be 12:50.
• 17:35
  These blue lines represent peaks, OK, Meaning it took a lot
• 17:42
  more gold at that point to buy one unit of the Dow.
• 17:47
  Now, what does that have to do with silver?
• 17:49
  When we go up to this top chart up here and we look at those
• 17:52
  same blue lines, those same periods of time, there's usually
• 17:55
  about an 8 1/2 year time period from when that happens, when the
• 18:02
  Dow to gold ratio peaks and when, and this is the silver
• 18:05
  price. By the way, this this line here
• 18:08
  is the silver price as we know, which has been doing well.
• 18:11
  But there's typically about a 8 1/2 year period from there to
• 18:16
  there when silver peaks. And we are just in the beginning
• 18:20
  phases of this. So this author, this is a whole
• 18:23
  new way to look at it. I have not seen this analysis,
• 18:26
  but this author is arguing that based upon this information,
• 18:30
  there's a likelihood, a possibility that the silver
• 18:33
  price could go into a mania phase.
• 18:36
  Now this next one, this one really get got me excited.
• 18:39
  Another new piece that nobody's talking about with silver that
• 18:43
  has to do with a cup and handle pattern.
• 18:46
  However, see if I can make this bigger for you.
• 18:48
  Well, let's give credit here first.
• 18:50
  This is from X and I'm not sharing the right screen.
• 18:53
  Now we are. This came from Clive Mond
• 18:57
  Silver. Our long term chart makes
• 18:59
  abundantly clear that you ain't seen nothing yet.
• 19:05
  Let's go down here and look at this chart.
• 19:07
  And the interesting thing on this is what is happening with a
• 19:12
  cup and handle, but not the not the cup and handle that
• 19:14
  everybody's always talking about, but a cup and handle.
• 19:19
  I don't know that I'll be able to draw on here.
• 19:22
  Hold on, you can see the blue cup and handle.
• 19:28
  OK, here we go. See if we can draw on this.
• 19:31
  This is a cup and handle within the handle of the what 45 year
• 19:36
  cup and handle. So this is 2011 right here, OK,
• 19:41
  when we had $50 silver, remember going all the way back to 1980
• 19:46
  way over here, that creates that massive cup, which then creates
• 19:51
  this handle, right? The the unbelievable cup and
• 19:54
  handle that everybody talks about is for the record books,
• 19:57
  but within the handle. So here this is the handle of
• 20:00
  the 45 year cup and handle. There's actually another cup in
• 20:06
  handle that has broken out, OK. It says although the charts are
• 20:11
  different, there's a parallel cup and handle continue a
• 20:15
  continuation pattern and gold down here.
• 20:20
  Silver has now done as expected, breaking out of the giant cup
• 20:24
  and handle base pattern to follow gold higher and the
• 20:27
  current advance is targeting the 2011 highs as the first
• 20:31
  objective. Although silver is usually under
• 20:34
  underperforms gold at this stage of the cycle, we can expect it
• 20:37
  to gain more traction going forward.
• 20:40
  So what I found super interesting about this, again,
• 20:43
  the 45 year cup and handles one thing.
• 20:45
  But when we look at the handle that started in 2011 in, in the
• 20:50
  primary cup and handle, there's actually another cup and handle
• 20:53
  within that cup and handle. Does that make sense?
• 20:55
  And who knows, right there might maybe there's even another cup
• 20:59
  and handle within that cup and handle.
• 21:02
  We're talking about like triple layers of cup and handles.
• 21:05
  Like we're talking about those, those Russian dolls that that
• 21:09
  seem to fit inside of each other.
• 21:12
  All right, guys, let's watch it. You know, those silver shorts.
• 21:14
  Do you feel sorry? And again, I'm seeing data
• 21:17
  that's saying that like 50% of the silver is now shorted right
• 21:22
  now. I mean, guys, they're, they're
• 21:24
  over the last number of weeks and months, there has been a
• 21:27
  huge short position short squeeze, right?
• 21:30
  Short squeeze could happen. People have been talking about
• 21:35
  it for decades. I'm not saying it's going to
• 21:37
  happen this week or next week, but eventually, right, these
• 21:41
  markets will have to balance and true price discovery will have
• 21:46
  to occur for the silver price, right?
• 21:50
  Maybe it's this, this actual physical demand, because
• 21:53
  remember, industrial demand continues to increase.
• 21:57
  I believe that we will also see right another reason to believe
• 22:00
  in a silver squeeze increase demand for jewelry, which is
• 22:04
  always already way higher than most people realize.
• 22:10
  But when the scales get tipped right and the short squeeze
• 22:14
  occurs, it could be massive. And Oh my God, Hey silvershire,
• 22:19
  dumping Fiat. Thank you silvershire.
• 22:22
  You know what I just noticed the comments are coming up here.
• 22:25
  Thank you for that super chat. Let's all say hi and thank you
• 22:28
  to super super chat. Thank you for the Super chat and
• 22:32
  thank you for helping moderate and Jake from Jake's Custom
• 22:36
  Parts is also a regular moderator here on the channel.
• 22:40
  Thank you Silvershire, super appreciated super chats.
• 22:43
  Never super expected, but super appreciated.
• 22:46
  When this silver squeeze hits, this is what it's going to look
• 22:49
  like. This is a funny one.
• 22:51
  We're going to have a good laugh here.
• 22:57
  This one popped up from Aiden OK for the silver shorts he has 2
• 23:03
  tips sell early and call your mom here and then he put this
• 23:07
  one put this up right. These are these are the silver
• 23:10
  shorts when the can't get that on full screen for some reason.
• 23:15
  Oh, well, there you go on the steps consoling each other.
• 23:19
  So guys, so much going on, right?
• 23:21
  We have affluent investors moving more and more into gold
• 23:26
  investments. And remember the rich people,
• 23:29
  there's a reason why they got rich, OK, because they make
• 23:32
  smart financial move. So when the wealthy people, the
• 23:35
  affluent people of the world are moving into precious metals, we
• 23:40
  are going to pay attention, OK, These are the winners.
• 23:43
  You know, the look, we're all trying to become a fluent, no
• 23:46
  doubt about it. But the people that already have
• 23:48
  the money have likely made very good decisions.
• 23:51
  So when we see that they are moving to precious metals,
• 23:54
  that's a big deal. The People's Bank of China
• 23:56
  continues, continues to stack massive amounts of gold, right?
• 24:02
  The price discovery for the world is, is, is is moving to
• 24:08
  the east, no doubt about it. And when we look at silver,
• 24:12
  right, we love our silver. It's very obvious what's
• 24:15
  happening there. Yeah.
• 24:16
  I do want to say thank you to channel sponsor First Mining
• 24:19
  Gold for sponsoring the gold and silver content here in Ron's
• 24:23
  basement. That if you are interested in
• 24:25
  learning about a development stage gold mining company,
• 24:29
  right, First Mining Gold has two massive development stage
• 24:32
  projects in Canada, Du Parquet in Quebec, Spring Pole in
• 24:37
  Ontario. They also have the Cameron
• 24:39
  project in Canada as well. But we're talking about millions
• 24:42
  of Oz of gold in the ground. It's been drilled, it's been
• 24:46
  defined, and now they're moving these projects through the
• 24:49
  permitting, through the development stage.
• 24:51
  OK. It's great company founded by
• 24:54
  Keith Neumeyer. He's the chairman of the board.
• 24:57
  You can learn more about them at firstmininggold.com.
• 25:00
  Thank you for joining me here in the basement.
• 25:02
  OK, guys, it's going to be a wild trip in precious metals.
• 25:06
  I'll look forward to taking taking it with you.
• 25:09
  Be good to yourself and I'll see you soon.
• 25:12
  Let's go. Go, let's go.