Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 💥 SILVER 💥 They are Cornering the SILVER Market!!... (Gold Price Too)

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💥 SILVER 💥 They are Cornering the SILVER Market!!... (Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  A massive move in the silver market, in the silver price.
• 0:04
  Are you ready for it? Because we could be right now on
• 0:07
  the very cusp of major moves in the silver market.
• 0:12
  Thank you for being here. Thank you for being part of
• 0:13
  Rob's basement. Please subscribe to the channel.
• 0:16
  Give the video a thumbs up. In this video, we are going to
• 0:20
  cover why we are right on the cusp right now of a massive,
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  massive big move. Get ready.
• 0:26
  Buckle up, buttercup. In the silver market, Are you
• 0:30
  ready to become a sillionaire? Yes, a sillionaire.
• 0:33
  A silver millionaire. Look, we don't buy silver to get
• 0:37
  rich. Although that wouldn't hurt,
• 0:39
  right? We won't complain, however, big
• 0:42
  things are happening in the silver market and we need to
• 0:46
  talk about a company that I think could be trying to corner
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  the precious metals market in the United States.
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  But let's go out to the chart 1st and and talk about why guys,
• 0:55
  we can be so excited right now about what's going on in silver.
• 1:00
  You know what, let's run out to channel sponsor pin backs, press
• 1:03
  the magic button. If you want to do this for
• 1:05
  yourself, you can go to their website, that little gold
• 1:08
  triangle and OK, silver, almost $32 per oz.
• 1:14
  We'll come back to Pembex here in a minute, but let's go to the
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  charts right now. Wow.
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  OK, what I have pulled up for you is a chart going back to May
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  for the silver price. This is so critical, guys.
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  We are in the trenches right now and silver as of late is
• 1:33
  winning. Silver has the momentum as you
• 1:36
  notice on this chart. Back on May 19th, we hit $32
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  silver in the futures market. On May 28th, we hit $32.20 in
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  the futures market. On September 23rd, we hit $32.
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  On October 2nd, we hit $32. That is 4 attempts to
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  breakthrough $32. Let's get our our crayons out
• 2:01
  here for one second. It is going to be increasingly
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  difficult for the COMEX in the LBMA to keep the silver price
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  under $32. Do you see this guys?
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  What do we call that? A syntico?
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  I don't know, a five times top. We've tried to breakthrough 4
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  times. We're now at our fifth attempt.
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  I think it's like statistically almost impossible that we don't
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  breakthrough. But you and I both know the
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  COMEX in the LBMA are very good at manipulating the price of
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  silver downward and in creating in the statistical anomalies for
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  us. So we're going to keep our eyes
• 2:43
  peeled. What we're looking to see is
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  this right, that big breakout in the silver price.
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  Now we know also if we look back just to August, I mean we have a
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  strong uptrend in the silver price.
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  So guys, we are there. We are there, baby.
• 3:01
  We are there again. We are knock, knock, knocking on
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  the door of 34 dollar per oz silver, $44.00 per oz silver and
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  one of you basement dwellers sent me a message or or left
• 3:15
  about Ron. Are you still calling?
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  Yes, I am still sticking by my word that on Christmas Eve,
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  we're going to be down here Christmas Day celebrating $44.00
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  silver. I believe it.
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  I know it becomes less and less likely the closer we get, but
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  this could be it. This could be the breakout
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  stage. Guys, next week we have the Big
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  Bricks meeting. There is so much going on.
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  Let's run over to China just to see what's happening in the
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  Chinese market with the silver price.
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  We'll go check out our friend Oriental Ghost.
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  There he is. OK, always got something about
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  the bricks. We'll come back and read that in
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  a second, but let's just check to make sure.
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  On the Shanghai Gold Exchange last night, silver, all right,
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  there's AG, that's the, that's the, what do you call that
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  periodic element abbreviation for silver?
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  On the Shanghai Gold Exchange, we closed at 3360, so not as big
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  of a premium in China as we've we had seen over the last few
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  months. But still in this is a physical
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  market, the physical price for silver in China is higher.
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  And the big thing to remember here, why this is so important
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  to keep an eye on this is that like I said, this is a physical
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  market. The COMEX in America and the
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  LBMA in London, England, those are paper markets.
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  Those are leverage 100 to one, 200 to one.
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  Some people say 400 to one paper to physical.
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  So when we look at the Shanghai Gold Exchange over there, the
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  inverse is true. You need to have the physical
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  metal to be able to trade on the Shanghai Gold Exchange.
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  And the physical price in China right now sits at $33.60 gold of
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  2635 S It actually looks like a bit of a discount on gold.
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  That's like very interesting. Let's go and see what he has to
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  say about the bricks Brick Summit got this is 6 days away.
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  Here's who, who just quickly, here's who will be attending the
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  most important geopolitical event of the year, Chinese
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  President Xi Jinping, Belarus President, Turkish president,
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  South African, Brazilian. And this is the one that really
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  got me, the Iranian president. Iran is like our our biggest
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  enemy in the world. The president of Iran will be
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  there. The the the president of the
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  United Arab Emirates will be there.
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  The Egyptian President will be there.
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  Bolivia's president will be there.
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  Mongolia, Palestine's president will be there.
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  The Saudis are not sending their president, they're sending their
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  foreign minister. So this will be the big news of
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  next week. Absolutely.
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  What goes on at the BRICS summit, the world is could
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  potentially be shook. The precious metals world could
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  potentially be shook. The reason why, right, the
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  examples that we can see out there that are telling us this
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  is they are explicitly wanting to de dollarize, move away from
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  the dollar. And this is where it gets
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  interesting, why it's so important for us to watch what
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  goes on. Because if they're not going to
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  use the dollar, guess what the reason that's so important is
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  they're not really going to want to use each other's currencies
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  either. If they don't, they don't trust
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  the dollar, but they trust each other's currencies even less.
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  What do you think? They're who they going to call?
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  Hey, it's October. Who you going to call
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  Ghostbusters? No, they're going to call gold.
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  They're going to call silver. They're going to call oil.
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  They're going to, they are going to revert to God's money, earn
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  some money. However, whatever you want to
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  believe, right, The natural money of the world, those
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  countries, they don't want the dollar.
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  See, here we go. Hold on time for its daily
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  appearance. Bye bye dollar, right?
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  No, but they're not going to want the the Saudis don't want
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  Chinese yuan, right? The Russians don't want
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  whatever. They are going to want gold.
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  And that's why they're setting up these major trading hubs for
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  precious metals as well. We haven't talked about the
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  Moscow world stand. I mean, guys, we things are
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  changing. It is going to be so this next
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  week could present some earth shattering news.
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  We and we, we're going to have to cover it here because guess
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  what? OK, CNN, the children's news
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  network, they aren't going to cover it.
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  I mean, it's just by isn't it? Think about this, the reason why
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  this is so important, you know, it's a huge story.
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  If CN, NS not covering it or the other big major networks, none
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  of them are going to be covering it.
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  I don't think Fox News will be covering it, no.
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  So we know it's a major story. We know that we need to pay
• 8:09
  attention to it and that we will do.
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  I'll keep you posted as things I mean, some people speculate that
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  we could hear about a new gold standard, a new gold backed
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  currency coming out of these bricks meetings.
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  I emphasize that that speculation.
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  I hope I'm proved wrong, but nonetheless, it's a it's a
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  critic. Like I said, it's a critical
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  supportive factor for the silver price, for the gold price
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  because they don't want dollars, but they don't want each other's
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  currencies either. I think I've repeated that now
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  three times. I apologize.
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  Now you know why, you know, you know it's hard being married.
• 8:46
  Susie sometimes likes to refer to me as Ron the Repeater.
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  So, Ron the Repeater. There you go.
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  OK. Is there one company that's
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  trying to corner the silver and gold market in the United
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  States, The retail market in the United States?
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  Because yesterday we got some stunning news.
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  There's a company out there called a Mark, which you
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  probably have never heard of, but you've heard of all the
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  companies that they own. This is a big Wall Street
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  company. And I think they could be
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  attempting it feels like to me like wait till you see this till
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  like they're attempting to to do kind of a takeover of the retail
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  bullion market for all the pop up ads here.
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  But Silver Town mint, who you may or may not have heard of,
• 9:32
  but you've you've anyway they're they are acquiring the assets of
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  Regency met manufacturing. OK, now this is the company that
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  owns everybody that you've never heard of a mark precious metals.
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  They're a publicly traded company on the NASDAQ.
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  They announced that their subsidiary, so a Mark's like the
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  parent company and they own all these subsidiaries.
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  And I'm telling you, I think they're trying to corner the
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  silver and gold market, the retail market.
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  Their subsidiary Silver Town Mint has acquired substantially
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  all assets of Regency Mint Manufacturing.
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  This strategic acquisition is expected to increase a mark.
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  Remember that's the mothership here, total minting capacity to
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  100 million oz annually. Why is that important?
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  Well, because the whole world only produces 800 million ounces
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  of silver total from mining activities in a given year in
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  this company is going to mint 100 million of them.
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  And think about this, that has to be almost I mean feels like
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  that would be almost everything because of that 800 million
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  ounces of silver that's produced every year.
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  We know a lion's share of it goes to industry.
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  We know a lot of it goes into the big giant bars on the COMEX
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  in the LBMA. Does it feel like we got one big
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  giant mothership corporate company that's taking over kind
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  of the retail investment menting of silver in this country?
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  I know that Keith Newmeyer open the meant first meant I think
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  it's called in Nevada, excuse me, Nevada to meant silver
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  products with who who's left OK says they'll have additional
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  capacity for proof quality coins and breakable rounds.
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  New extrusion equipment for faster, more efficient
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  production increase in silver mounts truck products from 30
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  million to over 50 million. It says there.
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  Now let's go take a look at this company.
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  Who are they a mark precious metals they're again they're
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  traded on the NASDAQ. This is shocking guys.
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  When you read about what they own, it feels like they're
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  trying to take over that they they do wholesale activity, they
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  do all kinds of stuff, but here direct to consumer that would be
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  you and me. That would be the retail silver
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  investment. Their segment provides access to
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  a multitude of products through it's wholly owned.
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  So Amark owns JM Bullion and Goldmine and this other company
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  now called LPMJM Bullion is a leading you.
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  Everybody's heard of JM Bullion e-commerce and no offense JM
• 12:19
  Bullion, but your prices are always in my opinion, very high.
• 12:23
  But nonetheless, JM Bullion is a leading e-commerce retailer in
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  precious metals. They own and operate numerous
• 12:30
  other websites. So you got the mothership a
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  mark, then you have JM Bullion owned by the mothership.
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  But then JM Bullion owns other websites as well targeting
• 12:41
  specific niches within the precious metals retail market,
• 12:44
  including jmbullion.com, Provident Metals, silver.com,
• 12:51
  cybermetals.com, goldprice.org, silverprice.org, Buy Gold and
• 12:57
  Silver, bgasc.com, bullionmax.com and gold.com.
• 13:04
  Look at that guys. All those sites are all owned by
• 13:08
  JM Bullion who's owned by Aramark who also owns Silver
• 13:12
  Town Minting that's gonna be able to mint 100.
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  I mean, is it feel like there's one company right?
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  That's like almost I don't want to use the M word monopoly.
• 13:21
  Goldmine markets precious metals directly to investor that's
• 13:24
  Goldline. This is a separate company
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  directly to the investor community through various
• 13:30
  channels including television, right, All those celebrity
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  endorsed whatever radio and telephone sales.
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  There was one more thing minting here.
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  This is their minting operation. The A Marks Mint operations,
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  which are conducted through its wholly owned ISO 9000 certified
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  subsidiary Silver Town Mint, enables the company to offer
• 13:54
  customers a wide range of proprietary coin and bar
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  offerings. And during periods of market
• 14:00
  volatility when the availability of silver bullion from Sovereign
• 14:04
  Mint is often product constrained preferred product
• 14:08
  access. Now it feels like to me what
• 14:11
  we're dealing with here is a company that's potentially
• 14:17
  taking over the entire retail silver and gold sector.
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  Now, one company they've not taken over is channel sponsor
• 14:24
  Pendek. So let's go back out and do an
• 14:27
  update on the silver and gold price.
• 14:28
  Let's see if we can get it. Let's see if we can get it above
• 14:31
  $32 per oz 3198. We're not going to give up.
• 14:35
  We'll keep pressing that Pembex magic button.
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  But Pembex is a privately owned company.
• 14:40
  I know the brothers that own it. I think the world of them.
• 14:43
  I feel great about having Pembex as a sponsor because of you.
• 14:47
  Yes, the basement dweller community.
• 14:50
  OK, the hold on here, the feedback that I've received from
• 14:57
  you has been overwhelmingly positive, right?
• 15:01
  I'm one of you, right? I've learned about this company
• 15:04
  through you. Over a year ago, everybody kept
• 15:07
  saying check out Pinbecs, Check out Pinbecs.
• 15:09
  What I found and what I still find today is that their prices
• 15:13
  are ultra competitive. They always have a selection of
• 15:17
  what I need, OK? And first and foremost, they're
• 15:20
  a company that I can trust. I've had five or six or seven
• 15:24
  purchases I've made from them over the last 14 or 15 months.
• 15:28
  Everything has gone off perfectly without a hitch.
• 15:31
  And I'm always getting more metal for my money, right?
• 15:35
  Depending on how much I buy, sometimes I figure I get like an
• 15:38
  extra two or three or four or five oz as compared to if I
• 15:42
  purchase from one of those big corporate owned other bully
• 15:50
  online bullion dealers. So do yourself a favor, check
• 15:53
  out Pinbeck's next time that you are in the market for gold or
• 15:57
  silver and just remember the the basements possible.
• 16:00
  Our our community, our club is made possible due to the
• 16:04
  generous support of our sponsoring companies like
• 16:07
  Pinbeck's. There it is right there.
• 16:08
  I haven't done that for a while. Pinbeck's Pi MB EP Pi MB EX.
• 16:14
  They really do check up wrong way, check all the boxes.
• 16:20
  Oh man, there is so much happening right now.
• 16:24
  Let's see here. OK, let's talk about could you
• 16:27
  buy a house for 25 ounces of silver 25 You want to buy a
• 16:34
  house 25 oz here, I think is this.
• 16:38
  I don't know what this is. I think this.
• 16:40
  Yeah. This is 25 oz.
• 16:42
  This is a tube of of. What do you call those things?
• 16:46
  Kruger ants right here. I'll get it out for you.
• 16:50
  Imagine these things are hard to open.
• 16:53
  Hold on. Imagine being able to buy a
• 16:55
  house for that much silver. There it is.
• 16:58
  Nope. These aren't Kruger ants.
• 17:00
  What the heck are these? Oh, these are something from
• 17:04
  Australia. Well, anyway, let's get them
• 17:07
  out. Here we are.
• 17:13
  I don't know what these are. Two ounce coins.
• 17:15
  These are beautiful. Look at this.
• 17:17
  OK, here, 20 ounces of silver, isn't that pretty, guys?
• 17:24
  Look at that, Isn't that pretty? And then I like 2 ounce coins
• 17:29
  because they're so thick. But look at the back.
• 17:32
  I remember Coin Shop Chris had me buy these.
• 17:39
  OK, anyway, this is this is a bad example, but that's 20
• 17:45
  ounces of silver. You want to buy a house for 20
• 17:49
  ounces of silver? How about 25?
• 17:51
  Maybe this guy's wrong, but I saw this last night and let's
• 17:56
  pull it up and take a look at how they calculated this.
• 18:00
  This came from Reddit. Wall Street Silver our friends
• 18:03
  at Wall Street Silver, the AI estimates this is if we
• 18:07
  revaluation of gold and silver in case of shifting from Fiat
• 18:12
  Unicorn fart desk monetary system to sound money system.
• 18:17
  OK, and let me see here, I'm gonna make sure we got you up,
• 18:20
  which we do, OK, to calculate the price of gold and silver
• 18:25
  needed to replace. So they're going to see if we
• 18:27
  were going to replace the entire Fiat money system with the total
• 18:32
  estimated, which is the total estimated global wealth of 1300
• 18:37
  trillion dollars. We will use a silver gold ratio
• 18:41
  of eight to one and will determine the required prices
• 18:44
  for both metals and how many ounces would be needed to
• 18:48
  purchase an average house, a $300,000 house.
• 18:52
  So we're going to back all the world's wealth with gold and
• 18:55
  silver, and then we're going to determine how many ounces of
• 18:58
  silver it takes to buy a house. So total, this very broad,
• 19:03
  simplistic, but it's a very interesting demonstration of how
• 19:07
  valuable silver and gold really are.
• 19:10
  So total global wealth, 111.3 quadrillion total silver supply,
• 19:17
  they're gonna, they're estimating that at 55 billion
• 19:21
  oz. I think that includes all the
• 19:22
  silver in the world, including what's in the ground.
• 19:25
  Total gold supply, 6.35 billion oz and a silver gold ratio of
• 19:31
  eight to one. Then they go through all this.
• 19:33
  Look at this math I got to about algebra and geometry and loved
• 19:38
  it. And then when you start getting
• 19:40
  all this crazy stuff. So we're just going to believe
• 19:43
  what they're saying. Here's the summary of findings.
• 19:48
  If you wanted to back the world's money with silver and
• 19:50
  gold, we would need a silver price of $12,227.00, a required
• 19:57
  gold price of 97, almost $98,000.
• 20:01
  This is where it gets interesting.
• 20:03
  The oz then required to buy a house, you would need right
• 20:07
  under 25 ounces of silver. If you backed all the world's
• 20:13
  wealth with silver and gold, you would only need 25 ounces of
• 20:17
  silver. We know during the Weimar
• 20:18
  Republican, the Weimar currency crisis in Germany before World
• 20:23
  War 2 that people were buying like nice apartments and
• 20:27
  buildings for like I think it was 100 ounces of silver.
• 20:30
  Nonetheless, we would need 25 ounces of silver, gold.
• 20:34
  You would only need 3 oz right? 3 point O 6 to get that $300,000
• 20:40
  house. Conclusion.
• 20:42
  In this scenario, with both silver and gold functioning as
• 20:45
  money and using a silver to gold ratio of eight to one, a house
• 20:49
  would cost approximately 25 ounces of silver or three out or
• 20:54
  three ounces of gold at the respective prices derived from
• 20:57
  the total global wealth 1.3 quadrillion.
• 21:01
  This illustrates how both metals would need to be valued
• 21:05
  significantly higher to replace the Fiat currency effectively.
• 21:11
  Again, that's a, that's a fun example to look at about the
• 21:15
  power of silver and gold, but really, right, If you think
• 21:18
  about it, throughout history, hasn't there been a few times
• 21:22
  when silver and gold were the base of all the world's wealth
• 21:26
  and money? Just saying, Just saying now we
• 21:34
  have experienced something very interesting within the silver
• 21:38
  and gold markets over the last 11 days, something that again
• 21:43
  absolutely demonstrates that we are in a new paradigm, a new
• 21:47
  world, a new weather pattern. Guys, I know it can be hard.
• 21:54
  I understand we've been through some rough times together as
• 21:57
  silver and gold investors, but right now we got to accept
• 22:01
  something. Sometimes it's hard to accept
• 22:03
  things and we have to accept that we are now in a good
• 22:07
  environment, a happy time to be a silver and gold investor.
• 22:12
  And, and what the dollar has been doing, the US dollar and
• 22:16
  how the silver and gold price have been reacting is a critical
• 22:20
  demonstration as to the fact that we are in this new
• 22:24
  environment, that we are in a new weather pattern.
• 22:28
  OK, because the dollar has gone up for 11 straight days in
• 22:34
  value. The DXY index, the prettiest
• 22:37
  turd in the toilet. Sorry, I had to say it once.
• 22:40
  It has gone up for 11 straight days and that in the past would
• 22:44
  have meant for the gold and silver price and that's not
• 22:49
  what's happening. Let's run out here and take a
• 22:51
  look at the DXY. We're going to look at a let's
• 22:56
  look at a 5 day chart first. OK?
• 23:00
  As you can clearly see on this chart and that black box keeps
• 23:03
  getting in the way, the dollar has been going up, up, up, up,
• 23:07
  up over the last five days. If we zoom out to a month, we
• 23:11
  can see that it really started on September 27th and what are
• 23:15
  we on the 16th? So yeah, it's been, and I
• 23:19
  counted like 11 straight days. Do you see how the dollar index
• 23:22
  has gone up and up and up? It was at 100 basically.
• 23:27
  Now it's up 3% in 11 days. That's a huge move in the world
• 23:32
  of currencies in the silver and gold price.
• 23:34
  I mean, should be down, I would say 5 to 6 to 7% easily.
• 23:42
  What would be AI mean? You know, really gold should be
• 23:46
  down 100 bucks based on that move.
• 23:49
  If things had remained the same. This fact that the that the gold
• 23:53
  and silver price had demonstrated strength and have
• 23:56
  decoupled from this DXY index, which is all a bunch of BS.
• 24:01
  The DXY index is the strong dollar that you hear so much
• 24:04
  about is essentially just a a comparison of the Euro.
• 24:10
  The yen in the US dollar compares those currencies to one
• 24:13
  another. It really is like saying which
• 24:16
  is the best horse in the glue factory, however you want to say
• 24:19
  it, the best used car on the cruddiest, cheapest, slimiest
• 24:24
  used car lot that you can find in the world.
• 24:27
  So the fact that the gold price and the silver price have
• 24:29
  continued to be strong in the face of a strong dollar is a
• 24:35
  very, very positive sign, right, For the strength and the
• 24:40
  vitality of this, of this rally that we've had in the in the
• 24:45
  precious metals markets, $4800 gold, $4800 gold.
• 24:55
  A prediction from one of the most respected and smartest
• 25:02
  precious metals analyst in the world.
• 25:05
  Let's dig into this right now. We're going to look at a couple
• 25:07
  charts that he put up and then we'll talk about.
• 25:10
  We'll zip right to his conclusion.
• 25:12
  But this came from gold Switzerland.
• 25:17
  Ronnie Stoferly, he writes this book, you know, the every year
• 25:20
  publishes what is it in gold We trust massive like 500 page
• 25:24
  book. This guy is the bomb when it
• 25:27
  comes to gold and silver precious metals.
• 25:31
  He's based out of Switzerland. Our gold Switzerland is he may
• 25:35
  be German, but and we know the Germans love gold and silver.
• 25:39
  But let me let's talk about his $4800 gold prediction.
• 25:43
  But first, gold, he looks at gold on a nominal basis and gold
• 25:49
  and a CPI adjusted basis. Guys, look nominal gold is the
• 25:55
  yellow line, right? We've seen since 1970 move up,
• 25:59
  move up, move up. The gold price on a CPI adjusted
• 26:03
  level has also moved up and is now what's interesting here.
• 26:09
  Whereas gold on a nominal, which nominal just means the number,
• 26:13
  OK, The whatever the number is, we know that it broke out of
• 26:17
  this cup and handle formation on a CPI adjusted basis.
• 26:24
  If you go back to 1980, if you adjust that price for inflation,
• 26:28
  can you see the blue line there here?
• 26:30
  Let me draw on here quickly. The blue line is inflation
• 26:37
  adjusted gold. You see this cup and now we have
• 26:48
  a handle and there's the whatever you call that, not the
• 26:53
  that's horrible, hold on here. Well, that's supposed to be a
• 26:56
  straight line. OK, We could be ready on ACPI
• 27:02
  adjusted basis, which would add even more power to this rally to
• 27:05
  break out to the upside. Now let's go down and look at
• 27:11
  another chart and then we're going to talk about 4800.
• 27:15
  I think this is so critical to look at.
• 27:18
  This is gold in U.S. dollars and it compares to the federal funds
• 27:23
  of the Fed to the feds interest rate cuts.
• 27:25
  OK. So the, the dark line is the the
• 27:29
  feds funds rate, the the Federal Reserve, whatever interest rate.
• 27:36
  As you can see the last time they when they started cutting
• 27:39
  in the year 2000, remember they cut rates, cut rates, cut rates.
• 27:44
  Gold went up 31%. That's that green area.
• 27:47
  The yellow line is the gold price.
• 27:49
  The dark line is the feds interest rate.
• 27:52
  Again in 2008, the great financial crisis, they started
• 27:55
  cutting during that period gold price went up by 40%.
• 28:00
  Just to give you an idea, from $2500 gold, a 40% increase from
• 28:08
  where we are right now and the Fed just started cutting rates,
• 28:11
  a 40% increase would be $1000 rise from where we are from,
• 28:17
  let's say $2500 gold, that would mean a move to $3500 gold.
• 28:22
  It happened here. It happened here, OK.
• 28:25
  The last time we had it was during the the health crisis in
• 28:29
  2020. The Feds started cutting rates
• 28:32
  boom. Remember that was rapid cut.
• 28:35
  The price of gold went up 26%. Even if we had just a 26%
• 28:40
  increase in the price of gold from $2500 gold, that is that's
• 28:46
  like a 650. That's like gold going to going
• 28:49
  to 3203 thousand, $300.00 for gold.
• 28:53
  Let's go down to the next chart. This just shows global central
• 28:58
  bank gold purchases in tons. I mean look at this over here.
• 29:03
  OK, this is post the Ukraine invasion.
• 29:07
  I mean, look at how how much more gold is being purchased.
• 29:10
  But let's get to the let's get to what what I promised you the
• 29:13
  $4800 comment from Ronnie. We love Ronnie.
• 29:17
  He's always welcome here in the basement.
• 29:19
  He says. After all, at the beginning of
• 29:20
  2024, gold successfully broke out of a cup and handle
• 29:24
  formation that had been forming since 2011.
• 29:27
  We saw that on that chart earlier with a gold price just
• 29:30
  over $2600 at the end of September.
• 29:33
  The gold price has reached the year end forecast for our
• 29:36
  incrementum gold price forecast model for 2024.
• 29:41
  So gold has reached what they predicted.
• 29:43
  They were accurate, they predicted that and it worked
• 29:46
  out. We presented this model for the
• 29:48
  first time in the In Gold We Trust report.
• 29:52
  Again, guys, that's this massive book that they publish every
• 29:55
  year in 2020. So four years ago they made that
• 30:00
  prediction. So we want to listen to this guy
• 30:03
  and have since updated it in every subsequent in Goldby Trust
• 30:06
  report. Now this is where it gets
• 30:08
  interesting. Given the further deterioration
• 30:11
  in economic and geopolitical geopolitical condition, the
• 30:16
  models price target of just over 4800 U.S. dollars by the end of
• 30:24
  20-30 will be considered a conservative projection, $4800
• 30:30
  gold by the end of 2030, guys, that's only five years from now
• 30:36
  #1 #2 he's saying that's a conservative projection.
• 30:41
  And these are conservative. These are Swiss European, very
• 30:44
  analytical, very conservative people, and very accurate, $4800
• 30:50
  for gold by 20-30, but it could be much higher is basically what
• 30:55
  he's saying. That's a conservative
• 30:57
  projection. Against this background, even
• 30:59
  gold, which became significantly more expensive last year, is
• 31:05
  still cheap. OK, You can watch.
• 31:08
  There's interviews with Ronnie Stoverly all over the Internet.
• 31:11
  He's the guru. He's the bomb.
• 31:12
  Thank you, Ronnie, for that excellent piece of literary
• 31:16
  work. And you can read that whole
• 31:17
  article. This guy knows what's going on.
• 31:20
  OK, and let's just look at this quickly.
• 31:22
  Here's another way to look at this came from our friend Mark,
• 31:26
  Basement Dweller. Thank you Mark.
• 31:28
  I always read all the comments, all the emails Mark asks.
• 31:33
  This shows the amount. OK, since this is interesting,
• 31:38
  since 2013, foreign official purchases of United States
• 31:43
  Treasuries, that's the orange line, OK, Cumulative since the
• 31:48
  People's Bank of China said in 2013, no longer in China's
• 31:53
  interest to grow their foreign exchange reserves, no longer in
• 31:57
  their interest to buy dollars, basically.
• 32:00
  So since 2013, the orange line shows U.S.
• 32:04
  Treasuries. You see that going down the blue
• 32:06
  line, OK, that this is 10 years that is a foreign purchases of
• 32:13
  our central bank purchases of gold.
• 32:16
  Guys, we are in a new world and it's getting crazy.
• 32:23
  Hey, by the way, if you guys ever heard of this thing called
• 32:25
  dirty man safe, let me just pull this up really quickly.
• 32:29
  I'm excited about this. They are sending me, they make 3
• 32:32
  sizes, they're sending me one of each, and I'm going to be
• 32:35
  talking to you guys about it. And they also sent me a discount
• 32:38
  code for you guys. Ron 10 like Ron's basement #10
• 32:43
  hold on here. So I'm curious if you guys, any
• 32:48
  of you guys own this product or have any experience with it.
• 32:52
  It's very interesting. It's like a safe that you can
• 32:55
  bury your gold and silver or whatever floats your boat in the
• 32:58
  ground. Here, let me pull this up.
• 32:59
  I put some pictures together. OK, there it is.
• 33:03
  There. It's like a tube.
• 33:04
  And then it fits inside that sleeve.
• 33:06
  And then you dig a hole and you put the sleeve down into the
• 33:09
  hole like that. And then you lower this.
• 33:12
  It's like a capsule, like a very secure capsule that you lower
• 33:15
  down in there and you put that white lid on top of the sleeve
• 33:19
  and there's a handle you can see there.
• 33:21
  And then you bury it all. And then you have buried
• 33:23
  treasure in your backyard. I don't know.
• 33:25
  Let me know. I'll be curious if anybody owns
• 33:27
  this, send me an e-mail. They're sending me a couple of
• 33:31
  them, so I'll be showing them to you here once a week or so over
• 33:34
  the coming months. It's called Dirty Man Safe and
• 33:37
  you can get 10% off if you use the code Ron 10.
• 33:41
  OK, let's see here, $4800 gold. This is great gold.
• 33:48
  Gold and silver are the tether to reality. that Lady Jude, you
• 33:52
  know who Judy Shelton is. Judy Shelton was who Donald
• 33:55
  Trump tried to appoint to the Federal Reserve.
• 33:58
  Judy Shelton is a believer in the gold standard.
• 34:02
  She has a new book out, but I heard her say this the other
• 34:05
  day. And I think it it just it just
• 34:07
  you know, what the hell that happens when somebody says
• 34:09
  something and you knew it, but it suddenly makes sense again.
• 34:13
  You know, I'm hoping that every once in a while that happens
• 34:15
  when you're joining me here in the basement that I say
• 34:18
  something are like, ah, I call it light bulb moment when you're
• 34:21
  like, oh, yeah, that makes sense.
• 34:23
  Judy Shelton said this. Gold is the tether to reality.
• 34:28
  Silver is the tether to reality. Guys, as we're living in this
• 34:34
  crazy world, everything's fantasyland, fantasy island,
• 34:38
  Unicorn fart dust. We joke around and call the the
• 34:41
  US dollar. We're that dollar.
• 34:42
  It's hard to keep track of these dollars because they just float
• 34:45
  around. I had a dollar down here
• 34:47
  somewhere. Oh, there it is.
• 34:49
  Right? Right.
• 34:50
  Floats around. Yeah.
• 34:51
  Yeah. Gold and silver are the tether
• 34:54
  to reality. Will you argue that with me?
• 35:00
  No. Right.
• 35:01
  Gold and silver are the earth's earth's money.
• 35:04
  Gold and silver are God's money. Gold, however you want to say
• 35:08
  it. They're real.
• 35:09
  They always have been. They always will be.
• 35:11
  OK, let's talk about what's going on right now in the US
• 35:16
  economy. Stock market crash.
• 35:18
  Are you prepared? I think we could have a crash in
• 35:20
  the market. Some people are saying 50%,
• 35:24
  right. The reason why that's important
• 35:26
  is that can impact the entire economy.
• 35:28
  They can certainly a stock market crash impact the price of
• 35:32
  silver and gold. Why?
• 35:34
  Because a lot of people say if the stock market crashes, I
• 35:38
  think we're, again, we, I get so excited about this stuff.
• 35:44
  Everybody says if the stock market crashes that the gold and
• 35:48
  silver price have to crash too, because it happened in 2008 and
• 35:52
  have OK, Everybody also says the reason why I'll argue that point
• 35:57
  against that point. Everybody also says that if the,
• 36:00
  if the dollar goes up in value, gold and silver have to drop.
• 36:03
  We'll get US1 Buttercup. That's we have proof I showed
• 36:06
  you earlier the last 11 days the dollar has gone up, up, up, up,
• 36:10
  up, up and gold, gold and silver have maintained this $2650 per
• 36:16
  oz price for silver or for gold, I'm sorry, silver $32 thirty,
• 36:21
  $1.00. And we are on the cusp of a
• 36:24
  breakout in the silver price. So just because the market
• 36:28
  crashes doesn't mean we are all these old relationships are
• 36:32
  breaking down. So it doesn't mean, does not
• 36:35
  mean that the gold and silver price have to go down, but it
• 36:39
  could have an impact and it could have an impact on other
• 36:42
  investments that you have. This is, this is stunning.
• 36:44
  I'm going to give you some reasons why we could be in for
• 36:48
  a, a stock market crash, right? All these people who are sitting
• 36:52
  around saying, oh, I have $400,000 in my 401K might start
• 36:57
  saying, oh, I only have 200,000 in my 401K.
• 37:01
  Let's go out first to the oh, we got a lot to cover the greed
• 37:06
  index, the fear and greed index. We are in big time greed
• 37:11
  territory. The fear of greed index hits 77
• 37:15
  points, the highest level since March and we've entered extreme
• 37:20
  greed territory. So we are in greedy land when it
• 37:23
  comes to the stock market right now and that can often times
• 37:29
  predict or anticipate a big draw down in the market.
• 37:34
  The blue line is the is the green index.
• 37:37
  You can see peak market drop, peak market drop, peaked market
• 37:41
  drop, which is the orange line. And here we are peaking again
• 37:45
  and look at how high the stock market is.
• 37:47
  So be prepared for that. Let's go over here.
• 37:50
  This is interesting. This is from the Kibisi letter.
• 37:53
  This is like a high level econ guy.
• 37:56
  The average US average weekly hours worked by Americans is
• 38:01
  falling to 34.2 in September, the lowest in 14 years.
• 38:06
  Outside of 2020, people are working fewer hours as companies
• 38:12
  reduce working time to avoid layoffs and cut costs.
• 38:16
  At the same time, the number of full time jobs has declined for
• 38:20
  eight straight months, while part time jobs have skyrocketed,
• 38:25
  also impacting labor hours. And here's a chart showing the
• 38:29
  US average weekly hours worked. As you can see, right, it peaked
• 38:34
  and it is going. I mean, that is a strong, strong
• 38:37
  trend. Not a good sign for the for for
• 38:41
  the US economy. This was probably the what?
• 38:46
  The most atrocious. This is scary.
• 38:49
  This is absolutely scary. The number of zombie companies
• 38:53
  in the US is sky rocketing 43. I mean, I forgot to highlight
• 38:58
  this. Hold on.
• 38:58
  What color you want me to make it, guys?
• 39:01
  Did you say red? It's a red alert, baby.
• 39:04
  Here we go. 43%. OK, more than 4 out of 10 of the
• 39:11
  Russell 2000 companies. Now the Russell 2000, you know,
• 39:15
  you've got the S&P 500, you've got the NASDAQ, which is the
• 39:18
  tech stocks, you got the Dow Jones industrial average, which
• 39:22
  is what the 100 biggest companies, industrial companies.
• 39:25
  But the Russell 2000 is the why the Russell is is so important
• 39:30
  to watch and keep track of this because the Russell 2000 is a,
• 39:35
  is a combination. It's an index of the 2000 like
• 39:38
  mid to small size companies the the the core of the US economy
• 39:43
  more so than the S&P 500 of the NASDAQ.
• 39:46
  These are the companies that are out there doing the work
• 39:49
  everyday. 4 out of 10 of them are unprofitable, the most since
• 39:55
  since the C19 crisis. At the same time, interest
• 39:59
  expense as a percentage of the total debt of the Russell 2000
• 40:03
  firms hit 7%, the highest. Since 2003.
• 40:08
  To me that would indicate they're paying almost 7%
• 40:12
  interest on the debt they do have.
• 40:14
  These are zombie companies that can only survive off issuing
• 40:18
  more debt. They're losing money.
• 40:20
  They need to borrow money just to keep the companies afloat,
• 40:24
  and it's 4 out of 10 companies here.
• 40:28
  The share of Russell 2000 companies with negative earnings
• 40:31
  continues to rise. Look at this trend.
• 40:34
  Now you really got to take this part out.
• 40:36
  I mean, I don't know, guys. It's not looking good.
• 40:41
  It's not looking good while at the same time, hold on here.
• 40:45
  I forgot to pull this one up. Where is it?
• 40:50
  Darn it, here we go. Health insurance premiums.
• 40:52
  This is insane. I need to go to the doctor.
• 40:55
  I'd anyway, I've been having some back problems.
• 40:59
  Whatever, I had to get an MRI, go to the doctor.
• 41:01
  It's such a cluster bomb in this country, our healthcare system.
• 41:05
  I'm sorry, it just stinks going to the doctor.
• 41:08
  You, you waste like 2 hours on the phone before you go dealing
• 41:12
  with the insurance company. I digress.
• 41:14
  Let's just talk about the economic news again from the
• 41:16
  Kobe C level lever. The average cost of a family's
• 41:21
  annual health insurance premium is up 7% over the last year the
• 41:27
  last 12 months to $25,572. Are you no joke?
• 41:35
  It's no wonder we all feel poor. If you have a family like I do,
• 41:38
  maybe you do, or maybe your kids do or whoever, and you're and
• 41:42
  you're not on some government health insurance, who can afford
• 41:46
  this? I mean, it's ridiculous.
• 41:48
  This is the second consecutive year with a 7% increase, higher
• 41:53
  by $3000 per year. In just two years, since the
• 41:57
  year 2000, the average health insurance premium has
• 42:00
  quadrupled, quadrupled. To put this in inflation, the
• 42:05
  CPI has risen 78%. So inflation has gone up,
• 42:10
  probably on the official level by 80%.
• 42:13
  But the cost of health insurance for crappy and am I alone and
• 42:17
  feeling like this, like the healthcare in this country is
• 42:20
  not that good. So since the year 2000, you
• 42:24
  remember the year 2000, Remember tonight we're going to party
• 42:28
  like it's 1999, OK. Anyway, the year 2000, from then
• 42:37
  to now, inflation has gone up 80%.
• 42:40
  I believe that at minimum, right?
• 42:42
  But the cost of health insurance has quadrupled.
• 42:46
  And I'm sorry, it's crappy. It's like, it's like it's, it's
• 42:50
  become, it's a nightmare. It doesn't make any sense.
• 42:53
  It doesn't make any sense. And nobody wants to deal with
• 42:56
  it. So I gotta ring the bell guys,
• 42:59
  for all those thumbs up. Hey, thank you to Jake from
• 43:02
  Jake's Custom Parts for moderating today.
• 43:05
  Annie Oakley, thank you for your contributions to the channel.
• 43:08
  Big time. The Silver Shire.
• 43:09
  Thank you for being here. It's going to be crazy.
• 43:12
  Let's run out and check though. Guys, wait a minute.
• 43:14
  Wait a minute, wait a minute. Let's go out and check me.
• 43:17
  Make sure I didn't get any breaking urgent updates.
• 43:19
  I may have. Hold on.
• 43:24
  Nope. Just a nice text from my sister
• 43:26
  telling her she loves me, telling me she loves me.
• 43:30
  Let's go out and let's do it. All right, Take your blood
• 43:32
  pressure medicine. Let's do an update.
• 43:36
  Press the pin backs magic button.
• 43:38
  And. OK, hey, look at that basement
• 43:43
  dwellers. Silver 32 O1.
• 43:47
  I told you by the end of the live stream, we could get silver
• 43:51
  over $32 per oz. Thank you for being here.
• 43:54
  Thank you for being part of the basement.
• 43:55
  OK, you're welcome here. Who doesn't want to be part of a
• 43:58
  club, right? You're welcome here, right?
• 44:01
  We hardly ever have to ban anybody from this channel.
• 44:05
  I mean, like, never, basically. And to me, that's a testament to
• 44:08
  you, right? Look like I'm talking to you.
• 44:12
  There is really only one you. You're important.
• 44:14
  You're a part of this community, OK?
• 44:17
  When you're here in the basement, you're a basement
• 44:19
  dweller. We hang out.
• 44:20
  There's nice people here. Some point, maybe you know what
• 44:24
  I'm thinking of. At some point I want to make any
• 44:27
  promises. I will have a like a big party
• 44:30
  get together. And what I want to do is rent
• 44:32
  the basement of a big church. There's a lot of big Catholic
• 44:35
  churches in Saint Louis and they rent out their basements for
• 44:38
  like wedding receptions and things like that.
• 44:41
  Get a bunch of pizza, have a couple special guests.
• 44:44
  Guests come and give, but the most special guest would be you.
• 44:47
  And whether or not we ever do that, it's a big deal when you
• 44:50
  join me here in the basement. So thank you guys.
• 44:52
  OK, and I will see you soon. Be good to yourself.
• 44:56
  You deserve it. Bye bye.