Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🎯 But... Goldman Sachs Says $2700 Gold by EOY -- (SILVER Price Too)

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🎯 But... Goldman Sachs Says $2700 Gold by EOY -- (SILVER Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:14
I'm going to give you my opinion on something major
0:18
going on right now in the gold and silver market and
0:21
it's likely not going to be very popular, but you
0:24
may like my long term views. We're
0:26
also going to talk about our friends at Goldman
0:29
Sachs, and I'm going to give you my opinion on the
0:29
gold and silver market. Goldman
0:30
Sachs, they are saying something absolutely
0:33
incredible about the gold price. Remember,
0:37
remember gold man, sex. What
0:41
are they saying about gold and what are the
0:43
ramifications for our good friend, silver also massive
0:49
story about commercial real estate guys there is doom
0:53
and gloom, not just on the horizon, but happening right
0:58
now in this particular story happened in my very
1:01
hometown. Yes, I'm in a basement in St.
1:03
Louis, but you're not going to
1:05
believe and I can give you some personal insight into
1:09
this latest story about the commercial real estate
1:11
sector. It is not good at all. And
1:15
finally, China and silver. What
1:18
is going on with China and silver? I've
1:20
got a new story, some inside information that I
1:24
think is going to make your skin crawl when it
1:26
comes to China and silver. Thank
1:28
you for being here. Hey guys, obviously the biggest
1:31
story going on right now is the situation in the
1:35
Middle East. $3 ,000 gold. Look,
1:39
we've got a couple things to look at from this
1:41
perspective. A lot of people were
1:43
clamoring. I was getting email after
1:45
email from basement dwellers from other friends, people
1:49
who followed me. Several of these people said we
1:52
could have $3 ,000 gold by the end of the week. Is
1:55
that possible? I'm going to tell you right
1:57
now. I say no way Jose, although
2:00
I'm often wrong. But did we see a spike in
2:04
gold overnight that we do need to talk about? And
2:07
what can we look at that gives us some hints, some
2:10
indications that that was indeed the case? Look,
2:14
we don't know how this week's going to play out.
2:16
Let's talk about this situation.
2:17
Scary situation in the Middle
2:20
East right now. Here's what we know. Obviously,
2:23
Iran had attacked what was it an embassy or a
2:27
consulate that belonged to Israel. I'm
2:31
sorry, Israel attacked. Let's
2:34
get the facts straight here. Israel
2:36
initially attacked a consulate of Iran's or an
2:40
embassy of Iran's Iran vowed revenge. Last
2:43
night they launched 200 drones missiles. You
2:46
know the whole story. The big deal here is that this
2:50
attack is being portrayed as a massive failure in
2:55
the West mainstream media. They're
2:56
basically saying that Israel and the United States, with
3:01
the help, this is critical with the help of the
3:04
United States, the United Kingdom and several other
3:07
countries were able to basically repel this entire
3:11
attack that was coming from Iran. They're
3:14
basically claiming victory over Iran in this
3:18
situation. I just find that very
3:21
interesting as to as number one, why they would be so
3:25
boisterous about that. But number two, you know,
3:28
what's the benefit of having done that? Now
3:31
a lot will depend on how Israel responds. So
3:38
Israel attacked Iran. That was a couple of weeks ago.
3:42
Attacked their consulate, whatever.
3:43
Iran attacked Israel with the
3:46
help of the United States and the United Kingdom.
3:48
Israel claims victory that they
3:52
repelled this attack by Iran. Now
3:55
the ball essentially is in Israel's court. How
3:59
will Israel respond? Now it's very interesting. This
4:02
is critical to understand that the White House has
4:05
been very vocal, telegraphing, saying right
4:09
now that they will not support Israel in an attack
4:13
against Iran. But come on, man, I mean, I
4:17
don't know. It's like, well, like the United
4:19
States will say, well, we'll help Israel defend
4:21
itself against Iran. But if Israel decides to now
4:26
counterattack against Iran, we're not going to help
4:32
out. I don't know, guys. It's
4:33
a very dicey situation. Did Gold spike to $3 ,000 to
4:39
high $2 ,700 on this news last night? We're
4:42
going to look at that in just one second. But
4:44
let's remember one thing. Okay.
4:47
Everybody's claiming now that we could see a
4:49
massive move up in gold this week on this news.
4:51
These big spikes, two things to
4:53
consider. Number one, these big spikes, when
4:56
we have these massive sudden spikes in the
4:59
precious, I mean, haven't we been around long enough
5:01
to realize they never last? Okay,
5:04
I'm going to tell you what's really critical a
5:07
little bit later. And what you do have to be
5:09
optimistic about when it comes to the silver price,
5:12
when it comes to the gold price, but these big spikes
5:15
aren't really what we're after. Okay,
5:18
they never seem to have a lot of legs to them, if
5:21
that makes sense. And let's remember as well.
5:25
This is big because I know you.
5:27
I know you're like me, right?
5:29
You're a human being, a feeling,
5:32
compassionate, reasonable person, basement dwellers.
5:35
And when you're here in the
5:36
basement, you're a basement dweller. Please
5:37
give this a thumbs up. You can subscribe. Still
5:40
free to subscribe and super chats are always super
5:43
appreciated. I'll even try to pull them up
5:46
on the screen as I'm going. Now
5:48
back to you and me. Let's not forget with all this
5:51
hoopla, all this excitement goals going to the moon,
5:54
right? Israel or Iran attacked Israel.
5:58
Israel attacked that rain. The
5:59
Middle East is falling apart. Guys,
6:01
let's remember the critical thing here. We're
6:05
talking about human lives on both sides. We're
6:10
talking about human lives. Okay,
6:12
I know you. You know me. We
6:15
have families. We have friends. So
6:17
do all those people in the Middle East on both sides
6:20
of this conflict. So let's pray that it doesn't
6:23
escalate. Okay, we don't want people in
6:27
human lives to be any more negatively impacted so that
6:32
the price of gold and silver go up. I
6:33
want to make that real clear. Now
6:35
we don't control what goes on. And
6:37
we make moves with our money. We
6:40
buy silver. We buy gold to protect
6:42
ourselves. That's okay. But
6:44
let's remember we're talking about human beings, right?
6:48
People like you and me, people
6:49
with spouses, brothers and sisters, children,
6:53
grandchildren. Look, I've been all over the
6:55
world. Now I don't like to brag too
6:57
much, but I've been all over the darn world. And
7:00
I'll tell you what, no matter where you go on
7:02
this planet, we all share that common bond, right?
7:06
We're human beings. People
7:08
everywhere love their families. Now,
7:11
are we going to see a big no? I'm
7:13
going to say no. You may hate me. Will
7:15
we see a big move up in the gold price and the
7:18
silver price because of what's going on? I
7:21
don't think so. Okay. Remember, gold and silver
7:24
are smart. They look out into the future.
7:27
This has been the most
7:28
telegraphed attack in the history of the world. I
7:33
mean, CNN, the Children's News Network and NBC and
7:37
Fox News, they already had all their graphics ready
7:40
and, you know, they had everything ready to go.
7:41
Special reports. I
7:43
mean, we knew this was coming. Okay,
7:45
gold and silver. Are you kidding me? Gold
7:48
and silver probably knew this was coming six months
7:50
ago, six weeks ago, certainly six days ago. So
7:54
I would believe that this has already been priced in.
7:57
Now, if God forbid the situation
8:00
escalates even further, and that's my question. Think
8:03
about it. I want you to think about
8:04
this. Okay. If you're Iran and you're
8:08
trying to attack Israel and Israel is able to repel
8:14
the attack, but it's with help of United States
8:17
military and UK military. Wouldn't
8:20
you feel like that you were kind of at war with
8:23
the United States war? I'm sorry. I'm
8:25
always pronouncing it wrong. War.
8:27
Somebody really ripped me on that one the other day.
8:29
War with the United States. I
8:32
mean, I can't see how we can't this. I
8:35
don't want to talk about escalation, but it feels
8:38
like the situation is ripe for escalation. Again,
8:43
let's hope that's not the case. Let's
8:44
take a look, though, at what happened. This
8:46
is interesting. Very, very interesting. And
8:50
I want to credit, I think it's smart silver stacker,
8:53
pointing this out last year. Last
8:54
night that the, you know, gold and silver don't trade
8:58
over the weekend. Alright, I can prove it to you.
9:00
Here, let's go out there. Uh
9:02
oh. Uh oh. Sorry,
9:03
guys, I'm not prepared. Hold
9:07
on. We're in technical difficulties.
9:09
It's hopefully the only time
9:10
today. And let's make that real big.
9:14
And let's go out here. Let's
9:16
go to pinbacks real quick, right? Like
9:17
the gold price and the silver price, they're
9:20
stagnant all weekend. They'll
9:22
start trading again tonight. Alright,
9:24
we've covered this. Can you still believe, though,
9:26
basement dwellers? Look, I know we went through a
9:29
little bit of a rough patch on Friday. Don't
9:32
forget, look at that gold price. I
9:34
want you to look at it and I want you to join me
9:36
in a big smile. 2351. Silver,
9:41
2804. Oh my gosh. This
9:44
is pinbacks. Uh, I just happen to be here.
9:48
Let's go to silver coins.
9:50
Pinbacks sponsors Ron basement, Ron's
9:53
basement. Thank you, pinbacks, for your
9:54
sponsorship. Guys, I've bought from pinbacks
9:57
probably six times now. I bought from them before
10:00
they sponsored the channel. I
10:02
found they have the best prices, the best service
10:05
and great selection. I never tell you what to do,
10:09
but I would recommend that you may benefit from
10:12
checking out pinbacks next time you decide to buy
10:15
some bullion online. Let's go over and look at this
10:18
massive, massive spike in the gold price. And
10:21
you may, oh my gosh, Ron took us to a crypto site.
10:25
Crypto .com. This
10:27
is a seven day chart of Pax gold. You
10:31
may be asking, what's Pax gold? We're
10:34
going to go find out here in just one second. And
10:36
again, smart silver stacker is who pointed this out
10:39
last night. But you can see last night the
10:41
price of Pax gold shot up right around when these
10:46
attacks occurred all the way to almost $2 ,700. But
10:50
what is Pax gold? Let's go check that out. Well,
10:53
here we go. Pax gold. The
10:55
safest way to invest in investment grade physical
10:58
gold. It's a digital token backed by
11:01
physical gold. Okay. Pax G offers investors a
11:06
cost effective way to own investment grade physical
11:09
gold with all the benefits of the blockchain. We're
11:12
not here to, I'm not a crypto guy. I'm
11:15
not a Bitcoin guy. I'm not here to debate the
11:17
whole crypto thing. I'm just showing you this
11:20
trade's 24 hours a day. And
11:22
each Pax gold token is backed by one fine Troy
11:28
ounce of gold stored in an LBMA vault in London. Well,
11:33
we know we trust those people at the LBMA in
11:35
London England. Don't we now if you own Pax G,
11:39
you own the underlying physical gold held in
11:42
custody by Paxos Trust Company. Well,
11:46
I'm not going to debate that. But
11:47
what I will say that is if this token, which it
11:51
followed, let's look at Friday. It
11:54
was as low as 2321. It follows closely, obviously
11:59
the price of physical gold one ounce of gold. And
12:03
as we look on Sun, I'm sorry, Saturday at looks
12:07
like what 430 I don't know whatever time that was know
12:10
what time zone that is. It did shoot up. And
12:13
if we look at right now, okay, it's still up a
12:17
little bit right 2434 as opposed to back here Friday
12:23
we were at 20. So are we going to see this
12:26
massive up tick in the gold price on Monday. I'm
12:32
sorry guys, I just don't think we are okay. I
12:36
don't want to be the bearer of bad news but
12:37
what we do want to remember when it comes to
12:40
the price of gold. Number one, like we just showed
12:44
you 2352 for gold silver over $28 an ounce on
12:50
Pimbeck's website we are in good shape and what's so
12:54
critical, we got to get it through our. My
12:56
mom used to always tell me I have a thick skull. I
13:01
don't know what that means maybe my skulls maybe is
13:03
your skull thick to think to realize what that means
13:06
that we're in good shape but more importantly, this
13:10
this rally that we've seen in silver and gold over
13:14
the last few months with silver maybe just over the
13:17
last two or three weeks but number less has been
13:20
driven by fundamentals the spike up spikes right on
13:25
on sudden geopolitical events. They
13:28
can add to that foundation, but I just don't see that
13:32
we're going to have a big spike. I'm
13:33
going to go out on a limb. Don't
13:35
hate me. I think that we could
13:37
actually have a challenging week ahead for both the
13:40
gold and the silver price remember that saying by the
13:43
rumor sell the news. I'm not making any not giving
13:46
financial advice I'm not not not telling you or
13:51
recommending you make any trades but I think we
13:53
could have a rough week ahead. I
13:55
hope I'm wrong. And let me tell you right I'm
13:58
just like you right I'm I don't know I have a I
14:01
don't have a crystal ball, and I want to tell you
14:03
something, I am often wrong so the fact that I'm
14:06
saying we're going to have a bad week in gold and
14:08
silver don't be mad, please right I'm just looking at
14:11
everything going on, running it through the supercomputer
14:15
which can at times be a little impaired and telling
14:19
you what I think. If you think that I'm always
14:22
right will talk to Susie she can tell you to the
14:24
contrary. All right, let's see what we
14:26
missed here. I don't think so this okay
14:32
that was I covered all that slow and steady rise.
14:37
Okay, okay, oh this was
14:39
interesting. I found this super interesting
14:42
that guys we're going to talk about what Goldman
14:43
Sachs is saying about gold and what it means for
14:46
silver. Can you say $50 silver gold
14:51
man they're going to change their name to silver man
14:53
Sachs, we're going to cover that we're going to talk
14:55
about the big commercial real estate bomb that went
14:58
off in my own hometown right here in St. Louis
15:02
Missouri home of the Gateway Arch. Okay,
15:04
and China silver crazy news but this is what I found
15:08
absolutely fascinating. Ah, shoot, I'm not prepared.
15:13
Darn it guys I don't. I
15:15
apologize. Hold on here. Let's
15:17
go to Yahoo Finance I want to show you something this
15:21
made no sense to me. And I saw a headline about
15:25
this last night when the when the attack when the I
15:30
keep saying when Iran's attack on Israel occurred.
15:35
You would have expected right
15:37
gold did spike right well it did we and I agree
15:41
with smart silver stacker and what do you and what
15:43
he demonstrated so wisely last night. But
15:46
what also went on what also also also. I
15:51
can't say war war Bitcoin. Alright
15:53
again this is not a crypto show I'm not promoting
15:56
Bitcoin Bitcoin went down. Hold
15:59
on. Let's do five day. Okay,
16:03
look at this. Yesterday, when all that occurred, why
16:06
did Bitcoin pretty much, I mean, had a pretty big
16:10
crash went from 67 ,000, all the way down to 62
16:14
,000 that's a gosh that's almost 10%. That
16:18
would be like gold dropping $200 per ounce. I
16:22
have no answer for that I just find it very peculiar,
16:26
because they claim Bitcoin is digital gold. I
16:29
mean does that make any sense it makes absolutely
16:32
no sense to me. I don't know why. Right.
16:35
But again, that's why I'm not anti crypto I'm not
16:39
anti Bitcoin I do believe in the blockchain. But
16:43
that's why I prefer real physical metal as opposed
16:47
to digital metal. Everybody has our and I will say
16:50
this. This is one great thing and you
16:52
may not have ever thought about this. Okay,
16:54
one great thing is that people that believe in
16:57
Bitcoin, people that believe in crypto in general. We
17:01
may not may or may not agree with them on the
17:04
wise, how wise it is to invest in those things.
17:08
However, however, it's critical for
17:11
us to remember that we do share a brotherhood with
17:14
the Bitcoiners and the crypto people we share,
17:17
though, we share the knowledge those people are
17:20
just like you and me they have taken the time to
17:23
investigate and to understand the horrors and
17:28
the injustice and justice injustice. It's
17:34
a new word injustice the injustice of the fiat money
17:39
system the money printing the paper money right the
17:42
the the the the the the thievery that has occurred
17:46
from the lower and middle class not just in the
17:48
United States but all over the world so we do share
17:50
that comradery with our friends all right enough of
17:54
that. I got off under that tangent.
17:56
Let's talk about gold man sacks
17:59
old Goldman Sachs crazy news out of Goldman Sachs.
18:03
Let's go here I want to read
18:05
this to you pull it up on the screen. Okay,
18:08
this is from Goldman Sachs. Look
18:11
the first part of this is not really worth paying
18:13
attention to. Okay, so I want you to go about
18:16
halfway down little past halfway down you'll see the
18:19
word indeed I think my arrow is on it. Let's
18:22
read this and let's talk about what this is telling
18:25
us Goldman Sachs right. The most prestigious financial
18:29
institution in the world talking about gold title
18:33
and unshakable unshakable bull market. Hmm.
18:37
Then they say, indeed, the majority of the gold upside
18:41
since mid 2022 has been driven by new incremental
18:47
physical factors, not least, not least a significant
18:52
acceleration in emerging markets, central bank
18:56
accumulation, as well as Asian retail buying. Those
19:01
factors remain well affirmed by current macro policy and
19:05
geopolitics right the world is falling apart. The,
19:08
the world is realizing. Excuse
19:11
me that the United States can weaponize the US
19:14
dollar. I mean, come on, right, we
19:16
know that more over. Moreover,
19:19
that's a good word. Roll over more over with Fed
19:22
cuts. Still a likely catalyst to soften
19:26
the ETF headwind later in the year. Oh,
19:29
the ETF headwind. Yeah, let's talk about that
19:31
Goldman Sachs. Let's talk about the fact that
19:33
we already have record gold prices. We
19:35
have a strong silver price. And,
19:38
and the ETF, I'd call it more of a demolition by
19:42
the ETFs that in the West money has been flowing out
19:45
of the gold ETFs out of the silver ETFs. If
19:48
we just have a slow down in the, in the in the D
19:52
in the decelerization, if we just have a, what's
19:55
that word I'm looking for a stabilization. And
19:58
God forbid people actually start to put money. It's
20:01
going to blow up. There's no silver available guys.
20:03
There's no silver. There's
20:05
none. Well, there's some, but it's
20:07
being dwindled. The Chinese are saying yes,
20:10
send it on over and we got crazy news about what's
20:12
going on with China and silver we're going to get
20:14
to later. And right in the right tail
20:17
risk from the US election cycle. We
20:20
forgot about that. We're always forgetting we're in
20:23
a crazy. The most content contentious
20:26
election in history and fiscal setting. This
20:29
goal is a fancy way to say that your government
20:32
cannot use a calculator monetary policy is what the
20:36
Fed does fancy. We want some fancy. I
20:38
know you want you always most of you may know this
20:41
but those of you that don't monetary policy is
20:44
what Jeremy palm the Fed. Federal
20:45
Reserve do right raising interest rates lowering
20:48
interest rates printing money. Oh
20:50
yeah right. This goal is what the government
20:53
does which is overspend like drunken sailors right
20:57
that's the so we got a US credit crazy election and a
21:02
fiscal situation that's just a mess. I'll
21:04
say it for you Goldman Sachs. Gold's
21:07
bullish skew remains clear from the rebased price
21:12
level that means we have a new base in the price
21:14
level some people are saying 21 hundreds the new
21:17
floor whatever with these positive price factors still
21:20
set to play out ahead of us. We
21:22
upgrade Goldman Sachs upgrade our price target to
21:28
$2 ,700 a Troy ounce by year end. Hold
21:33
on a second. We hide that previously it was
21:37
2300 Goldman Sachs is calling for $2 ,700 gold by
21:42
the end of the year. Now some of you that word word
21:45
of caution, you know, caution be careful. Some
21:48
of you will say Goldman always do the opposite of
21:51
what Goldman Sachs says. Are
21:53
we headed for a big correction guys. It
21:55
could happen. But but sometimes Goldman Sachs
22:12
is right. Be prepared. Okay,
22:13
this is good times ahead. We'll
22:17
see how Goldman Sachs does. Alright,
22:19
let's not forget. It's not Goldman Sachs can't say
22:24
this but we can say it right basement dwellers we
22:27
can say this. It's okay. Trust
22:30
me. I want you to smile for me
22:32
here with us for a second. Smile,
22:37
we can say this. You know why? Because
22:39
do you know who Thomas Jefferson was? He
22:42
didn't write the Constitution. I
22:43
think Hamilton wrote it or somebody, but your founding
22:46
fathers are proud of you. Okay,
22:49
they are. And what we're taught in the
22:51
history books is how important, right? How
22:54
important before they brainwashed you. Okay,
22:58
that this, this is paper is worth something. This
23:02
is paper. Okay, your founding fathers gave
23:06
you some great advice and that is you silver and
23:09
gold. They actually put that advice
23:11
for you. Right, those of you who are
23:13
joining me from the United States of America in the
23:16
United States Constitution like the Bible of our
23:19
country. Maybe that's not a good
23:21
comparison. I hope I didn't offend
23:23
anyone. But like, you know, I take a
23:25
class in high school. I went to CBC high school,
23:30
right. And that was like senior year
23:32
Constitution class Mr. Haggerty.
23:34
I remember it well. He was the varsity football
23:36
coach. You know, he was crazy about
23:39
the Constitution. Right. They put it in there.
23:42
Let's talk about what Goldman
23:44
Sachs can't say. Hold on. I'll
23:51
be right back. I think I'm having a coughing
23:53
attack. I'll tell you what Goldman can't
24:02
go Goldman Cacks. Goldman Sachs can't say it's real
24:06
interesting. What they can't say is that the
24:09
Fed is in deep trouble. Right
24:12
there in cahoots. All the people that work at
24:14
the Fed are ex Goldman Sachs. We
24:16
got big trouble. We got big trouble in this
24:19
country. And even, you know, who's in
24:21
bigger trouble? Our old friend, Gomer Pyle.
24:24
Remember, remember, what was that
24:26
show with Gomer Pyle? Somebody
24:27
put it in the comments. I won't be able to read it.
24:30
Remember, Sergeant Carter and Gomer
24:32
Pyle? Yeah, I like to say Joe Biden,
24:36
Sergeant Carter and Jerome Pyle is Gomer Pyle. I'm
24:40
going to hear Gomer Pyle. I
24:42
think our Jerome Pyle, I think Gomer Pyle. Gomer's
24:45
in big trouble. Okay. You know why? I'm
24:48
going to tell you why. Because
24:49
it's turned into a clown show at the Fed. And
24:52
it's going to be good news for silver and gold. I
24:55
will beat the table on this, basement dwellers.
24:59
This is so critical for us to
25:01
know and understand the Fed is in big, big trouble.
25:05
The United States is in big,
25:07
big trouble. I hate to be the bearer of
25:09
bad news, but we are. If you can work a calculator,
25:13
you too. Yes, you can figure out that
25:15
the United States of America is in big trouble
25:18
because of fiscal mismanagement and because of
25:22
monetary mismanagement. It's been a lethal combination.
25:26
So now, with $34 trillion in
25:29
debt, look, the Fed cannot raise interest rates. Okay?
25:34
They can't. They can't raise interest rates.
25:37
If they raise interest rates,
25:38
I showed you yesterday, the banking system, I got crazy
25:41
news for you about commercial real estate.
25:43
Anyway, the banking system blows
25:46
up. Corporations blow up. There's
25:49
government debt. There's corporate debt. There's
25:52
even personal debt. Americans,
25:54
they don't have any money. I
25:55
don't know, 65, 75, 55, whatever a percent of
25:59
Americans can't afford an emergency $500 event that
26:04
may occur, that they need to fix their car. And
26:07
it cost $800 and people are like, no, everybody's
26:09
living paycheck to paycheck. Sure,
26:11
everybody's working like slaves, but they don't
26:14
realize it. They're going to look back
26:17
thousands of years at our society and say, how did
26:20
they get these people to do that? I'm
26:22
telling you, I digress. The Fed can't raise rates. But
26:27
guess what? They can't lower rates either.
26:30
All right? Everybody's
26:31
clamoring, oh, the Fed's going to lower rates. The
26:33
Fed's going to lower rates. They've
26:35
been saying it, right, for six months. Remember
26:37
five months ago? Yeah, it'd be five months ago,
26:41
December. It was like, the Fed's going
26:42
to lower rates eight times during 2024. The
26:47
Fed's going to lower rates five times. The
26:49
Fed's going to lower rates four times. Now,
26:51
people are waking up to what we've been talking
26:53
about for months. The Fed can't lower rates. And
26:56
I'll tell you why. They can't raise rates because
26:59
of all the debt. Everything goes boom, boom. They
27:01
can't lower rates because you know what's going to
27:04
happen to inflation. It's going to go through the
27:07
roof. Sorry I yelled at you. And
27:13
that's the end of the story. Yeah,
27:15
it's going to go through the roof. Right?
27:17
They lower interest rates. It's
27:20
going to go crazy. And we've already got crazy
27:24
inflation. Think about what you paid for
27:27
stuff four years ago. You're
27:29
probably paying 40, 50 % more for that same stuff.
27:32
Be it food, fuel, diapers,
27:36
lawnmowers, gasoline, whatever floats your boat,
27:40
trading cards. Everything's gone up, right? Because
27:43
of money printing. Right? If they lower rates now
27:46
and people are even saying that, the Fed is in big
27:50
trouble. Gold and silver do know that.
27:53
Yeah, we may have a short -term
27:54
pullback. Yes, I'm predicting this will
27:57
not be a good week for gold and silver. Yes,
28:00
I'm admitting I'm wrong all the time. Do
28:03
not make any financial decisions based on anything
28:06
I'm saying. But guys, that's the situation
28:09
that we're in and it's not good. It's
28:12
bad. Feel sorry for your little kids.
28:15
I got 12 -year -old twin
28:16
daughters. I feel sorry for them. Right?
28:19
Who can afford a house? Well,
28:21
I hope they aren't house shopping behind my back.
28:23
But you know what I mean? If
28:25
you're a 22 -23 -year -old, my nephew, if you
28:28
Buttercup, was able to buy a condo, but he's an
28:31
exception. Little Buttercup, because he's
28:33
smart, right? But most other people, they
28:36
can't buy houses. These kids, they're in trouble.
28:39
They got student loans coming
28:40
out their ears. Oh, wait, but Joe Biden's going
28:42
to forgive all the debt. I mean, I don't know. I'm
28:45
sorry. I digress. Okay.
28:51
Oh, here, let's just take a look at what the Fed's
28:53
done quickly. You're tired of looking at me.
28:56
I'm tired of looking at me.
28:57
Let's look at something else.
28:58
Where'd it go? Oh,
29:00
boy, here we go. Wait a minute. Oh,
29:03
ran. Nope, that's not it. That's
29:06
not it. There it is. I
29:08
knew I'd find it. Gold price versus the U .S.
29:13
money supply. Okay.
29:15
I'm going to go off on it. Does
29:17
this, the other thing that should make you super
29:19
angry, unless you're like one of the richest 0 .1 %
29:24
or the richest 1 % in this country, this inflation has
29:29
stolen from you. So the numbers don't lie. The
29:33
distribution of wealth in this country has become so
29:37
skewed where the top 1 % owns so much of the
29:41
assets. It's absolutely crazy unless you
29:44
put your money into something like silver or
29:46
gold. This chart starts in 1970.
29:50
Second time I'm showing it to
29:51
you, but it just shows it shows the gold price. Okay.
29:55
See up there, gold price. I
29:57
think you can see my cursor. First,
29:59
the U .S. money supply. All
30:01
right. And look at this. This
30:03
is just what I want to point out. This
30:04
starts in the 1960s at a base of 100. All
30:10
right. The U .S. money
30:10
supply then has gone up. Let's
30:13
go all the way down here. Gosh
30:14
darn it. It always does this to me. I
30:16
don't want to go to the mobile app. I'm
30:18
on a live stream with all my basement dweller friends.
30:20
Will you stop asking me? Okay.
30:22
It started at 100. This means that in February, we
30:27
don't even know where it is now of 2000. Is
30:30
that 2002? No. That's oh, I'm sorry.
30:33
That's the year 2023 February.
30:40
Sometimes I get a little mixed up.
30:42
You know, we're all getting a
30:43
little older. It may happen to you too.
30:45
Anyway, the money supply has gone
30:47
up by 46 times. Okay. You know what that is? Let
30:52
me show you. Let's get Gomer out. He's
30:54
going to make his daily appearance Jerome Powell
30:57
from the United States Federal Reserve, our special
30:59
guest here in Ron's basement today. Here
31:02
he is. All right. Do
31:04
not open, but we don't follow directions. There
31:07
he is. Right. Him and his cohorts have
31:10
done this. Don't forget. It's
31:12
called unicorn fart dust. We
31:14
say that once during every live stream. That's
31:16
what the paper money is. The
31:18
money printer. I need to get a little
31:19
printer, a little miniature printer in their form. He's
31:22
printed away. Unless you're unless I want you
31:26
to ask yourself a question. Okay.
31:28
Look, if you're part of the 1 % you're in the
31:31
wrong place. Get out of here. Leave
31:33
the live stream. We're part of the other 99 .5 %
31:37
or 98 % or whatever it is. We
31:40
got ripped off. See, right. I
31:43
can use the clean language. Oh
31:45
my gosh, Ron to get them super chat. Thank
31:48
you. I'm going to put you up on
31:50
the screen. Ron. Hey, you're good looking
31:52
man. And you have a good first
31:53
name. You've been ripped off. You.
31:56
Yes. You by money printing. Look
31:59
guys, if you're ultra think about it. They
32:01
printed all this money. This
32:03
is critical for you to understand. Critical.
32:06
If you had your money in gold, you're okay. If
32:09
you had your money in silver, you're probably
32:11
okay. Right. If you're ultra rich, you
32:15
own a bunch of stocks. Okay.
32:18
Okay. And they've gone up. It's
32:20
a bull market for stocks. Maybe
32:23
own a few stocks, whatever. Okay.
32:25
But you've done your portfolio. Boy,
32:28
it's strange. I had $500 ,000 in my
32:33
portfolio 12 years ago and now I have 4 million. I'm
32:37
rich. Well, good for you. Buttercup.
32:39
Butter, but that's what I'd call that guy. The
32:42
reality is that happened for the rich people. If
32:45
you had a bunch of real estate, a bunch of, I've
32:48
got 25 rental houses. Well, you've done well. Great.
32:53
Good for you. If you're just a normal hard
32:55
working, then a bull market in real estate. If
32:57
you're a normal hard working American, you know
33:00
what you've got over the last 15 years? Well,
33:02
your salary went up maybe by 50%. Okay.
33:07
But your buying power went down by 100 % or 80%.
33:11
Right. You're poor. I
33:13
digress. I get a little, I try not
33:16
to talk about politics with your religion, whatever. I
33:19
want to say thank you very quickly. Channel
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sponsor. First, Mining Gold. Canadian
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33:42
more of a gold mining company now. They
33:45
do have silver mines in Mexico, in Peru, but they
33:49
have gold mines in Argentina and two operating
33:52
mines in West Africa. West Africa is crazy when it
33:57
comes to gold. I'm actually going to make a
33:59
video for you guys focused on West Africa. Excuse
34:04
me, I'm choking up because there's a lot going on
34:07
there and a lot of good for the people of West
34:09
Africa as well. Okay. We got to talk about, we
34:12
got to talk about, it's a clown show. The
34:15
Fed's, one last thing on the Fed that I think
34:18
really, really, really, I want to drive home. This
34:22
is big, right? Think about, if the Fed was, if
34:27
we were on the gold standard, we were on the
34:30
bi -metallic standard, which is when this country was
34:33
made great, right? This country did great things.
34:37
And throughout history, countries
34:39
have done great things when they base their money in
34:42
silver and gold. And wars don't occur so much
34:46
because it's very difficult for countries to go to war
34:48
when they have to finance it with silver and gold.
34:52
Okay. And every day, average
34:55
people like you and me, right, can work, right?
34:59
They don't, they don't, where is
35:00
it? Can you believe they convinced
35:03
you to work for paper? I mean, they did, right? They
35:08
convinced us to work for paper. I'm
35:11
part of it. No problem. Where
35:13
was I? It's something great to say. I
35:17
don't know. It's just absolutely
35:20
flabbergasted. Oh, the Fed. Sorry.
35:24
You know, you're like me. I
35:26
know my average viewer, you might be in your 50s. Our
35:29
brains start to slow down a little bit. Welcome
35:31
to Slow Rhymes Basement, where I'm slow. Talk
35:35
soft and slow. All right. But
35:37
the Fed is, it's flabbergasting for us to
35:42
realize. Okay. If the Fed was dealing
35:46
with real money, imagine this. I
35:47
want you to make believe with me real quickly. This
35:49
would be fast. Now, we're going to talk about,
35:51
what should we talk about? We're
35:53
going to talk about this crazy commercial real estate
35:55
bomb. And one of them went off right
35:57
here in St. Louis. And it is, I'm not, I am
36:00
not exaggerating. This is absolutely crazy nuts.
36:05
And I have personal experience
36:06
with this building. But why did the Fed? The
36:10
Fed still was dealing with real money. This,
36:13
right? This. Oh, remember this? Here's
36:16
a peace dollar. Here's today's show and tell coin,
36:19
a 1925 peace dollar. That came from our friend,
36:23
Kimberly. Look at that. I
36:24
love when it focuses. Okay. If the Fed was dealing
36:27
with this, we wouldn't even, we wouldn't really
36:30
care about the Fed because everything would be equal.
36:32
Everything would be normal. But
36:33
instead, because the Fed deals with make believe
36:37
land, right? Unicorn fart dust, paper money,
36:41
whatever you want to call it, they got to be out
36:43
there spreading the lies. Con,
36:46
right? Confidence. It's all based on
36:48
confidence. Right. Well, that's why the Fed
36:52
has become, I'm the one that coined it. Hope
36:56
I don't get in trouble. Well,
36:57
the Fed's not really part of the government and the
36:59
Constitution protects me to be able to say this. The
37:02
Federal Reserve, right, which the Fed and Federal
37:05
Reserve is no more federal than the federal and
37:08
federal express, but nonetheless, right, they
37:10
become more of a PR firm than a bank, right? They
37:15
should be, they should be working with gold and
37:18
silver over there. Right. And the Fed, no, now
37:22
they're nothing but a PR firm. Oh,
37:24
Fed governor. Remember, Boulard from St. Louis.
37:28
He's gone now. Thank God. Right.
37:31
That guy would always torpedo for like two years.
37:34
That was like his main goal in
37:36
life was to torpedo the price. Oh,
37:38
James Boulard said that, boom, gold and silver go
37:43
down. You know, who knows what
37:44
they'll say this week. I digress. Let's
37:47
talk about what happens when commercial real estate
37:50
crashes. Hmm. What happens to the banks?
37:54
What happens to the whole
37:55
system? We know, right? Potential.
37:57
I'm not saying I'm making any predictions here, but
38:00
this is absolutely crazy what happened in St. Louis.
38:05
I'm going to go just to prove to you. We
38:08
even made, we even made business insider. Welcome
38:15
to St. Louis. Business Insider. The
38:18
city whose doom loop might just be worse than San
38:22
Francisco's. Well, that's very comforting. All
38:25
right. This is crazy, guys. Read
38:27
this. And I know this building. In
38:31
office building in St. Louis
38:33
recently, and I mean in the last few weeks, I'm
38:35
going to let you read it while I get a drink of
38:37
coffee. Hold on. Read
38:41
that. In office building in St.
38:46
Louis sold for $3 .6 million.
38:49
Hey, that's a lot of money,
38:50
right? More than I have. Maybe
38:51
more than you have. Maybe you're rich. I
38:53
don't know. $3 .6 million after selling
38:56
for 205 million 18 years prior. Oh,
39:03
yeah. Commercial real estate's in good
39:05
shape. Wait a minute. I
39:07
got something even more astounding to share this
39:10
with you. Downtown St. Louis
39:11
is filled up with unoccupied buildings and an
39:14
unwillingness to visit them. Yeah,
39:16
I would say I don't go downtown, right? I
39:18
live here in St. Louis. Okay. St.
39:22
Louis's recent office vacancy rate is at a
39:24
record high of almost 25%, according to JLL. Whatever
39:29
the heck that is. Who cares? Yeah.
39:31
Downtown St. Louis is kind of deserted. We've
39:36
got an MLS team that just built a nice big new
39:39
stadium. We've got Bush Stadium for the
39:41
Cardinals. But from a bit, it's kind of
39:43
dangerous down there. Okay. It's kind of dangerous down
39:46
there. But what's astounding about
39:48
this? Okay, that building sold for $3
39:50
.6 million after selling for 205 million 18 years prior.
39:55
Think about this, guys. It's
39:58
sold for 205 million 18 years ago. What
40:01
is 205 million in today's dollars? I
40:05
would say at least $360 million. Right?
40:10
Right? If you adjust 205 million 18
40:12
years ago, I'm not saying that's accurate, but I
40:17
would say that it's probably at least $360
40:19
million if you adjust that for inflation today. That
40:23
means that building sold for 1%. That
40:25
building was originally Southwestern Bell, which was
40:30
then absorbed back into AT &T. It's
40:33
a massive, and it's a nice building. Look,
40:36
I used to work. I had a business in the IT
40:38
consulting field. I had consultants who worked
40:42
for me on long -term contracts. I
40:44
put people to work in that building. I've
40:47
been in that building. It's a top -notch facility, but
40:52
it's now vacant and has been vacant for a while.
40:56
And think about this. It's
40:58
selling for one... I mean, who held the loan?
41:02
What bank held that loan? I
41:03
mean, this is... That's a lot of money. Right?
41:06
$200 million 18 years ago? I
41:10
mean, think about what is happening right now, and
41:13
that's just one. That's just one example. And
41:17
I'm bashing St. Louis, but think about throughout
41:20
the country, there's a lot of other cities that aren't
41:23
in much better shape. Okay? This is scary. Nobody
41:27
talks about... Remember, we go the banking crisis,
41:30
the banks, and remember what was that thing called?
41:33
They had the BTFP, the bank
41:34
term funding program. Right? When that was going to
41:37
go... Think about what we just learned
41:40
about. I want you to think about
41:42
this in terms of a potential black swan in the
41:46
banking sector. Not trying... Not
41:48
saying it's going to happen or anything like that, but
41:50
think about what we just saw. One
41:53
example of carnage in the commercial real estate
41:57
sector, which equates to carnage to the balance
42:00
sheet of some bank out there. Okay?
42:03
And that's just one example. On
42:05
top of that, I won't pull it up, but guys, we are
42:08
at... We are at, like, nosebleed
42:11
levels. When you look back over the
42:14
last... For interest rates... Sorry,
42:15
I need to stay on track. For
42:16
interest rates. So commercial real estate,
42:19
carnage, bond market, carnage... When
42:23
you look over the last 20 years, we've only had
42:27
interest rates this high, where we are right now, as
42:30
we're speaking, right? For like two or three months.
42:33
Okay? And then you go back
42:34
further, and then interest rates... I
42:36
mean, it's... You got to go back further
42:38
than 25 years to have higher... The
42:40
whole system was based on 0 % interest rates. Bond's
42:45
big trouble. Commercial real estate, big trouble.
42:49
Okay? That's all I'm saying.
42:51
We'll leave it at that. Let's
42:52
talk about China and silver. Okay?
42:56
China... This is great. This
42:58
is crazy. We already know. You
43:03
may know this, right? But that silver sells for two
43:06
or three dollars and ounce more in Shanghai, China. On
43:09
a major exchange, the Shanghai Gold Exchange, the
43:13
Shanghai Futures Exchange. I wonder why? They're
43:17
like, oh, hey, hey, LBMA, London Billion Market
43:21
Association. We know you control the price
43:23
of silver and gold. Yeah, sure. You
43:26
control it. Go ahead. Manipulate
43:28
it down. Comex? Comex, yeah, we know. You
43:32
guys, you got the handle on the gold and silver
43:34
market. Yeah, you got it all under
43:36
control, right? We looked at yesterday, the
43:39
memo that came out, came out, I believe, through
43:42
WikiLeaks when they set up the Comex and the LBMA. It
43:45
was designed for manipulation. It
43:48
was designed... It was designed to discourage
43:53
Western investors from holding silver and gold.
44:07
And silver and... Wait
44:09
till you hear this. Our friend, John Little, at
44:13
thepickax .com, but he's got some other sites he has as
44:15
well. This, I think, is one of the
44:17
best pieces I've seen in a long, long time. Now,
44:21
I got to find it. So, bear with me. There
44:23
it is. Okay? This comes from the Silver
44:26
Academy Substack. And I actually think I have a
44:29
link to this. His work, he puts out something
44:32
crazy interesting every single day about silver and
44:37
gold. China switches strategy from
44:41
stacking gold to take all the silver, quote, unquote,
44:46
sticking it to the U .S. short
44:48
sellers. That would be the Comex. And,
44:51
you know, we're sticking it to the London short sellers
44:54
at the LBMA and market rigors. The
44:57
Reddit apes, right? Remember,
44:59
we're at the Silver Squeeze on Wall Street Silver,
45:02
Silver Dijian Club. Started the movement, but we ain't
45:05
seen nothing. It's all about China and their
45:09
unified focus. Watch TikTok, right? Fuel
45:13
the real Silver Squeeze. I'm
45:15
going to highlight that. The
45:17
real Silver Squeeze. Now, this is very interesting.
45:21
Here's a tweet from BJW. My
45:26
wife is in China. She speaks and reads Fluent
45:30
Mandarin. I need to remember that.
45:32
Chinese language is called Mandarin.
45:34
She told me, I can do a
45:36
Chinese accent, but I can't speak Mandarin. She
45:38
told me last night that Chinese media is writing
45:41
articles, okay, and recommending silver as a
45:47
better investment. Why is that moving? Anyway,
45:50
as a better investment, as gold gets more expensive,
45:54
then John points out some super interesting points.
45:58
Guys, this is an insider telling
46:01
us that the Chinese media, right? And
46:05
the Chinese media is government controlled, is
46:08
highly encouraging their citizens. They're
46:10
taking all our silver, okay? Andrew
46:13
Maguire said it three or four weeks ago. He
46:17
said that the breaking of the COMEX and the LBMA
46:21
could not be years away, but could be months away.
46:29
And we know what happened to
46:30
Silver on Friday. Woof! Excuse me. Here
46:36
we go. Let's just read through this
46:37
list. This is very interesting. Thank
46:40
you, John, our friend John. There
46:42
are 1 .4 million Chinese citizens. They
46:45
can buy a lot of silver. Just
46:47
starting this week, the Chinese government is
46:49
advertising and telling its loyal people to buy silver
46:53
instead of gold. Their orders in the past year
46:57
were to stack gold. That's what the government was
46:59
telling people, as John had reported back in November
47:01
of 2023. I'm going to repeat. The
47:05
Chinese government apparently is telling their citizens
47:08
to stack silver. Silver and gold stacking is the
47:10
cornerstone of their crafted and clever strategy of
47:15
economic warfare. Oh, this is getting to be a
47:21
crazy world. They understand that US bankers,
47:23
the Federal Reserve and the Silver Institute have all
47:27
been rigging silver prices for decades, despite
47:31
dwindling silver inventory. The
47:34
silver shorts in the West are at a very high level.
47:38
Silver shorts in the West right
47:40
now are at very high levels. The
47:42
three silver rigors mentioned above executed and
47:46
promoted these shorts. Bankers,
47:49
Federal Reserve, and I believe John is referring
47:52
possibly to the Silver Institute as well. Wow,
47:55
absolutely crazy. What does it mean when you have
47:58
1 .4 billion people who are being highly, highly
48:03
encouraged to buy silver? Gold
48:07
up 20 % in two months. Silver
48:09
up 27%. Wow, I didn't realize that. I
48:13
guess that makes sense. I mean, we were buying
48:16
American Silver Eagles for 25, 26 bucks just six
48:21
weeks ago. Crazy. Silver up 20. Did
48:23
you buy some? This is a massive return.
48:27
Investors in the West do not believe
48:29
the silver move. Margin calls will crush silver
48:34
short sellers. Okay. Those are the people that
48:37
sold, sold, sold thinking they could buy back later
48:40
at a lower price is the price. If
48:43
the price continues to go up, they will be forced to
48:46
buy back at higher prices adding even more fuel. And
48:50
then if you're crazy neighbors that don't care
48:53
about silver and gold decide to start buying some
48:55
silver gold, the Costco crowd, the Costco crowd,
49:00
right, the new silver. Oh, we love it. What
49:02
if silver comes back and go and vogue in the United
49:05
States? You know, right, people start
49:08
to realize. Think about that. And
49:10
the shorts have to cover at the same time. Silver
49:13
miners price levels are at one depth of where they
49:16
stood at the same silver price in 2021. I'm
49:21
not giving financial advice, but go my gosh, the price
49:25
of the mining stocks, even though it's done pretty
49:28
well over the last four or five weeks. I'm
49:30
very grateful, right? I have a lot of my own
49:33
personal money and silver and gold mining stocks. I'm
49:36
very grateful. They're still at unbelievable
49:39
historic levels compared on almost any metric. Okay.
49:45
Not not not telling you what to do. Silver
49:47
is also historically undervalued to gold. Oh
49:50
my gosh, this just gets better and better. Right.
49:53
Yeah, what's the gold to silver ratio right now.
49:56
It's still above 80. Are
49:58
you going to take four tubes of American silver
50:00
Eagles and trade them in to get one, one ounce of
50:05
gold? I don't know. Shanghai's
50:07
price Shanghai gold exchange Shanghai future exchange
50:11
price of silver is over $32 per ounce at the
50:16
writing of this article. That's
50:19
believable, right? Because it seems like lately we
50:22
get information from the Oriental Ghost off Twitter
50:25
telling us that like the silver price in Shanghai,
50:28
which is a physical. I'm going to yell. Old
50:32
your ears. Huh? Oh, Susie's home. Susie
50:36
was gone. Hi Susie. Okay,
50:39
Susie says we have 300 likes. I
50:41
will ring the gong here. But
50:42
the guys remember Shanghai gold exchange is a physical
50:46
market. That's the big difference. Comex
50:49
LBMA. We call Max and LBMI in
50:53
London, England. They tried Mike believe silver.
50:55
They like to live in the land
50:57
of make believe Disneyland silver, right? Very
51:00
dust silver, whatever you want to call it. Shanghai
51:02
trades real metal, baby. And
51:05
isn't it? What is I mean, come on, you
51:08
don't have to be Albert Eisenhower to realize that
51:11
that means that the price in Shanghai is the real
51:17
price. Because that's the real silver
51:19
price. What's the price when you go to
51:20
your local coin shop? What's
51:22
the price when you go to pinbacks for an ounce of
51:24
silver? You know, I mean, even like a
51:28
10 ounce bar, we'll go out and look here in a second
51:31
before we wrap this up. This
51:34
is a magnet pulling us silver. I
51:36
like that a magnet pulling us silver prices higher. Oh
51:41
boy. Okay, very interesting. Very,
51:44
very interesting. Let's just go out. I'm
51:46
just curious, right? Silver. Where's 10 ounce bars? See,
51:51
I'm on this website so much. I
51:53
know how to get around 10 ounce bars. Okay,
51:56
yeah, my favorite. 10 ounce. Okay,
52:00
Royal Canadian meant 10 ounce bar, $308. So
52:04
that's probably what I would call and then here's
52:07
the other ones, more of the generic ones and other
52:09
men's 298, 298. This thing, we had one of these
52:13
in a giveaway, the Geiger bar. Man,
52:16
that was hard for me to ship, but I did. Yeah,
52:19
our friend David down in Florida got that with a
52:21
bunch of other silver. That is beautiful. I'm
52:25
still tempted. But anyway, we could say that
52:28
right now, low the price of silver is, if you're
52:32
going to buy it, right? This
52:33
is like the Shanghai Gold Exchange. You
52:35
want to buy physical metal from the best place in
52:38
town with the best prices. You
52:40
know, buy it at 10 ounce, which to me is a good,
52:42
you know, kind of standard size to give us a good
52:47
price level. You're looking at $30 an ounce.
52:50
All right. That's
52:51
the reality. That's what's going on. Oh
52:53
boy, basement dwellers. Oh, we got big news out of
52:57
Mexico. Mexico, but first, you did it. We
53:01
almost have a thousand people. It's
53:04
Sunday morning. Don't forget to pray. When
53:07
I'm done here, I'm going to spend, I always do five
53:09
minutes. I set a timer, but first,
53:12
let's let's ring the gong for 300 thumbs up. You
53:17
guys are not blowing me away. This
53:20
is the golden gong. This is for you. Three
53:26
rings of the gong, baby. Okay.
53:29
When we talk about silver, the other piece of
53:32
astounding news, big news, breaking news about silver.
53:39
Okay. Is that the production of
53:41
silver is going down? Yes, there's been no money going
53:44
into the world of silver over the last 10 years. No
53:48
money, only the smart money, right? Contrarians,
53:52
people that realize value, people like me, probably
53:56
people like you, right? I mean, the price of silver
53:59
has been down. The price of the silver mining
54:01
stocks has been just decimated. So
54:04
there's no money going into developing, building new,
54:07
but what about Mexico? Let's
54:09
talk about what's going on in Mexico because you guys,
54:11
Mexico and the silver price and silver production mean
54:14
everything. We got a double whammy, right?
54:17
A big double whammy. I'm
54:28
not sure heck was doing some drilling. Of
54:29
course our friends at Fortuna, right? They're
54:34
always looking at, they're doing some drilling, but
54:37
overall, and those are the smart guys, right? Dolly
54:41
Varden, some of the other summa silver, black rock
54:44
silver, they're doing some, but there's very little,
54:47
very, very, very little. That
54:49
means there's no new silver coming into the pipeline,
54:52
right? They're exhausting. The
54:55
silver mining industry is exhausting. They're
54:57
resources. They can't just make the stuff.
55:00
They're not the Federal Reserve.
55:02
They can't print it. That's
55:03
not the way it works. They got to find it. Every
55:06
ounce they do dig out of the ground is one less
55:09
ounce they have as a depletion industry, but
55:12
that's not the big news. The
55:15
big news is Mexico is the world's biggest silver
55:20
producer in the world. Has been for years and years.
55:24
I think the Spanish, I mean,
55:25
you know, anyway, silver is a big deal in Mexico.
55:29
Silver mining in Mexico is in the
55:31
tubes and one of the big reasons why is AMLO.
55:34
They're making it. They
55:36
don't want, they don't want mining in Mexico anymore.
55:39
Excuse me. I'm
55:40
losing my voice like I'm in puberty again. They
55:43
don't want mining in Mexico anymore. They
55:46
don't. Suzie's flowers. I
56:06
did buy Suzie flowers from Trader Joe's. I'm
56:09
telling you, Trader Joe's has paid 12 bucks for this
56:12
bouquet of flowers and it's two weeks old and it looks
56:16
perfect still. You put that chemical in there.
56:18
I don't know what that is.
56:19
This is flower preserver Mexico
56:21
silver enough about Suzie. You
56:24
guys want to hear me talk about Suzie sometime I'll
56:26
make a whole video about Suzie because she's got to
56:29
be like the one of the nicest best people and I'm
56:32
very fortunate to have her. But
56:34
we're here to talk about silver and Mexico. Remember,
56:37
no money, no pipeline for more silver. That
56:41
will mean that 10 years from now, there will be
56:44
even less silver coming out of the ground. You
56:47
can't build a silver mine in a week. You
56:50
can't build a silver mine in a year. You
56:52
can't build a silver mine in five years. And
56:55
on top of that, the compound things, the world's
56:57
biggest producer of silver is Mexico. So
57:01
in Mexico is doing everything they can to
57:07
discourage silver investing. Listen
57:09
to this. Listen. This lesson. Already
57:15
under stress, Mexico is the world's leading silver
57:19
producer. Mexico's Supreme Court could strike
57:23
down the president's mining reforms next week. Once
57:26
a popular destination for Canadian silver miners and
57:30
explorers, Mexico's recent mining reforms are driving
57:34
away investment. Remember, Mexico has the world's most
57:40
silver. Even as a looming Supreme Court
57:43
decision is likely to toss out the new law, deemed by
57:46
industry sources as unworkable. The
57:49
reforms introduced last May by President Andrés Manuel
57:53
López Obrador, known by his initials as AMLO, require
57:59
pre -consultation with communities before
58:01
exploration, impact studies, and cash bonds in case of
58:05
damage, that the junior explorers may find difficult
58:09
to raise. They also want to get rid of
58:11
open pit mining in Mexico. Guys,
58:14
Mexico, from labor unions to government, this will
58:20
have a massive impact on the supply of silver, which
58:26
has already been constrained. And
58:29
I want you to think about that. The
58:32
mining, silver mining in an industry, no money, no
58:35
exploration, no development. Mexico,
58:39
the world's biggest silver producer, discouraging, doing
58:43
everything they can to say, no more, no more. We
58:46
don't want mining here, no more. While
58:48
at the same time, right, that's the supply, over
58:51
here, we've got demand going through the roof,
58:55
right? Electronic solar panels. India
58:58
imported 70 million ounces of silver in February
59:00
alone. That's almost 10 % of the world's
59:03
production. That's demand. Solar
59:05
panels, electronics, electric cars, artificial
59:08
intelligence. Eventually, you won't even have to
59:12
listen to me. You can just go to some
59:14
artificial intelligence guy who's made up in his
59:16
basement. Anyway, the demand going through
59:18
the roof. And what did we just hear
59:20
about China? Mike drop. Mike
59:23
drop, right? I don't care what they say.
59:27
I believe in silver. I
59:28
could be wrong, right? I believe in $100 silver. And
59:32
I believe that, realistically, I believe in
59:35
$80 silver. It can happen, guys. Everything
59:39
else, right? Look at what Bitcoin did. Look
59:41
at what Amazon stock did. Look
59:44
at what housing prices have done, right? Things
59:47
can go up in multiples and the fundamentals. Those
59:51
are called the fundamentals, right? Decreasing
59:55
supply, increasing demand. Eventually,
59:59
market forces prevail. And we're talking about God's
1:00:02
money. We're talking about the original
1:00:04
money. Silver is the original money.
1:00:07
Silver was money before gold.
1:00:09
Okay? That's a fact, Jack. That's
1:00:11
the way it goes. So that's what we're headed
1:00:13
for. Let's do a quick review. Hold
1:00:16
on a second. $3 ,000 gold tomorrow, not
1:00:22
going to happen, okay? Right?
1:00:24
And we could have a rough week for the metals this
1:00:26
week. Long term, it's all noise. Long
1:00:29
term, the value, the bottom line affecting the silver
1:00:34
price and gold price measured in dollars is that
1:00:36
the dollar is losing real value, okay? We
1:00:41
pray for the world, right? We're
1:00:43
talking about human beings as we're talking about war,
1:00:47
right? Middle East, Europe, potential
1:00:51
China, Taiwan, potential North Korea. We
1:00:54
don't want higher silver and gold. We
1:00:56
don't need people being hurt for the silver and
1:01:00
gold price to go up. You're
1:01:02
a caring, wonderful person. I
1:01:03
know that about you as well. Commercial
1:01:05
real estate is done, right? Is
1:01:08
done even in beautiful St. Louis,
1:01:10
Missouri, right? Home of the Gateway Arch and
1:01:13
St. Louis Cardinals. We
1:01:15
just had an office building, which I think an
1:01:18
inflation adjusted numbers for 1 % of what it sold.
1:01:23
How could this is a massive
1:01:26
building, guys? It's like a skyscraper,
1:01:29
metropolis type building, and it's a newer building.
1:01:32
How could it sell for 1 % of
1:01:34
what it sold for? Or 2 % if you're only going
1:01:37
to adjust it for inflation. 2 % of what it sold for.
1:01:41
I had that 18 years ago.
1:01:43
Absolutely crazy. And
1:01:44
we know what's going on with China Silver. Thank
1:01:46
you for being here. Hey, we're trying to get Ron
1:01:49
Spaceman on the Apple podcast. I
1:01:52
don't think it's out there yet, but hopefully here in
1:01:54
the next couple of days. Don't
1:01:55
forget, go to ronspaceman .com. We
1:01:58
are doing a little giveaway. Our
1:01:59
friend Big G from CT, that starts tomorrow. You
1:02:03
can start guessing on that couple ounce giveaway. If
1:02:07
you can guess, the price is over on July 3rd, 2024.
1:02:14
And yeah, I guess that's it,
1:02:16
guys. Have a great day. Thanks
1:02:18
for being here. You're special. It's
1:02:21
a big deal when you join us. And
1:02:23
I hope you have a great day. Bye
1:02:24
-bye.