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⚡LBMA's Surprise Admission - SHOCKING Silver Price and $8000 Gold Price NEWS ⚡ · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
The silver and gold price can absolutely skyrocket when the
0:05
Western investor comes back on the scene.
0:10
But you might be asking yourself, what about the US
0:12
economy? What if the US economy crashes?
0:16
What if we do go into a real recession or even a depression?
0:22
What's going to happen then to the price of gold and silver?
0:26
What about when the Fed lowers interest rates?
0:28
That's right around the corner. How will that impact the price
0:33
of silver and gold? I've got some answers for you
0:36
today in this video. Thank you for being here.
0:39
Thanks for being a basement dweller.
0:40
Please subscribe to the channel, give this video a thumbs up.
0:44
And you know, super chats, that type thing are always
0:47
appreciated. We got a lot to cover, so let's
0:49
dig right in. We'll start with this story from
0:55
our friends at Kitco talking about the LBMA.
1:00
The LBMA, Whoa, whoa, whoa, whoa, whoa.
1:02
The LBMA. The London Million Market
1:05
Association points out Western investors are getting into gold
1:11
for the long term, supporting prices globally and in India.
1:17
Let's dig into this guys, because again, when the Western
1:20
investor comes back, that has been the missing piece of the
1:24
puzzle. We can't emphasize that enough,
1:28
right? The fact that the Western
1:29
investor has not participated from a demand perspective in the
1:34
silver and gold rally has been the missing piece of the puzzle.
1:38
And Kitco tells us here, increasing interest from Western
1:42
investors is supporting a surge in gold prices around the world
1:46
and in India. That's according to Sakila
1:49
Mirza, deputy CEO of the London Bullion Market Association.
1:55
Now, we may not like the LBMA. We may know that they've worked
1:59
to, let's say, affect or some people may say manipulate the
2:04
price of gold and silver for decades.
2:07
But none the less, they are still a powerful force within
2:11
the precious metals arena. There's no doubt about it.
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Mirza told CNBC that where the shift is coming is gold is no
2:19
longer just interesting in Asia, it's becoming more and more
2:25
interesting in the West as well. Excuse me.
2:30
Mears has said that Western investors are not only looking
2:34
at gold as a near term opportunity, but also getting
2:38
involved on a long term basis. Western investors are back on
2:42
the scene and they aren't doing this on a short term basis.
2:45
They're doing it on a long term basis.
2:48
They're looking at for long term stability through your
2:52
investments. Well, I'll read the whole
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sentence. I think that's the beauty of
2:55
gold, that you can actually get into gold, but also know that
2:58
you're going to have long term stability through your
3:01
investment. She said that shift from not
3:04
just focusing on the interest in Asia.
3:07
Guys, we know India, China, right?
3:09
We beat that story to death. The demand for precious metals
3:13
from India and China through the roof, but the LBMA is telling us
3:17
that actually in the Western markets now is really supporting
3:22
the price of gold. We could just be getting
3:24
started. OK, briefly on India, she says
3:28
India is the second largest consumer market for gold in the
3:31
world. I don't agree with that.
3:33
I think India, India's the, the precious metals capital of the
3:37
world according to to our assessment, right guys.
3:41
And one of the most important markets and not just from the
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perspective of jewelry, but also sentiment, the emotional in
3:47
festivals and everything that happens in India to engage the
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gold markets. There's a lot of positive.
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She's been a conference saying there's so much positive, so
3:57
much positive. Then they talk about here
3:59
briefly and I'll just cover this with you guys.
4:02
They're talking about new technology initiatives between
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India and the LBMA. And let's not forget that the
4:10
LBMA is working with the World Gold Council, I think it's
4:15
called Gold 247 on a massive digitization like digital
4:20
representation of physical gold. There is so much going on, but
4:24
this idea that we could have Western investors imagine that,
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imagine right if they join the party.
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I don't think we, I don't think you quite understand.
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Well, maybe you do, but I think it's important for us to
4:40
understand just what a big deal that would be.
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As Western investment demand for precious metals goes up, it
4:49
could result in unbelievable price increases.
4:53
Demand increases for the precious metals.
5:01
Sorry guys, I'm having some voice problems this morning.
5:03
There's always something going on, and you know what's going on
5:06
right now. You've decided to join me here
5:08
in the basement. I want to take 10 seconds to say
5:11
thank you. We appreciate you.
5:13
There is no Ron's basement without you.
5:15
That's why they call it YouTube and not Ron Tube.
5:18
Let's move on here. This is a big insight.
5:21
Let's talk about what's going to happen in two regards.
5:24
What's going to happen when the economy crashes to gold and
5:27
silver. But first, let's talk about
5:29
what's going to happen when they lower interest rates.
5:34
And I want you to to hear me out on this one.
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And I want you to share your ideas, your opinions as well,
5:39
because I believe that when the Fed lowers interest rates from a
5:43
number of different key perspectives, it could be
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massively, I mean, we've already got Western investors showing up
5:51
again, but also this lowering of interest rates.
5:55
I want you to, we got to then use our heads here, OK?
5:57
We're going to, we're going to, we're going to use that, that
6:00
little bit of intellectual horsepower that we all have.
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As we talked about how lowering interest rates will impact the
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price of silver and gold, I think they'll be massive
6:11
beneficiaries to the interest rates getting lowered.
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Think about this right now you've got all these people you
6:18
can go to anywhere and make 5% on your money, like a one year
6:23
CDA money market account, whatever.
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When the Fed lowers interest rates, suddenly there's going to
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be a lot of people who aren't making 5% anymore and they're
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going to be looking for somewhere new to put that money.
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OK, Are they going to look at the stock market bubble?
6:41
Are they going to look at the real estate market bubble?
6:44
Hold on one second. Pardon me, I seem to be losing
6:57
my voice. No, they aren't.
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OK, you can, you can watch this live stream as I slowly lose my
7:04
voice this morning. But they're going to be looking
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for a safe harbor for their money.
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I think it's big. There's an article out there
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they called a wave of one year CDs that are going to be coming
7:17
due in the coming 12 months was either 1.5 trillion or $2.5
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trillion. All these people are going to be
7:24
getting that money and be like, wait, I don't get 5% anymore.
7:28
No, now you get let's say 4 percent, 3%.
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They're going to be scared and it gets even better, guys, and
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they're going to be looking for a safe harbor.
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That's why people put money in CDs.
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That's why they put it in money market accounts.
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They want a safe harbor. If that safe harbor is paying
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less interest, there's going to be more and more of those
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people. Like the LBMA already told us,
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we're going to be looking at things like precious metals,
7:57
because on top of that, OK, this is beautiful.
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Just as the amount of interest that people are making on their
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safe harbor money is going down, we're going to have inflation
8:09
spiking. There's no way, absolutely no
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way around it. Lower rates cause inflation.
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The national debt causes inflation.
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The value of the US dollar going down causes inflation.
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In those same people who aren't making 5% on their money market
8:25
or CDs anymore are also going to be dealing with higher
8:29
inflation, right? So if you're, if you're safe
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harbor of choice, a money market or CD is no longer an option.
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And the money you do have is getting beaten up by high
8:40
inflation. But what do you think?
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Do you think maybe maybe just some of these people, even if
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it's just a small percentage of them wake up that they can put
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their money into silver and gold?
8:53
It's been the, you know, it's, it's protected against inflation
8:56
for was it 50 years? No 500 years, no 5000 years, OK.
9:05
On top of that is all this is going on, OK?
9:08
OK. Inflation going up, we're going
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to have a stock market. We got a double bubble.
9:15
I'm going to call it the double the double bubble.
9:17
We've got a real estate market that's in a bubble, OK, these
9:23
what they say my house is worth is mind boggling to me.
9:26
That doesn't make sense. It doesn't add up.
9:28
OK, it doesn't. We got a real estate bubble and
9:32
we have a stock market bubble. I'm going to show you it's a
9:34
data, a data point here in a second that will clear that up
9:38
beyond all means. So as these people, this is the
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last point we're going to make on this.
9:43
But as, as these people are no longer making that 5 percent, 6%
9:49
on their safe harbor money in their savings accounts or their,
9:53
or their CDs or their money markets, they're, they're only
9:56
going to make 2 or 3%. They're not going to like that.
9:58
They're going to be dealing with high inflation, while at the
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same time we could be having a slowing economy.
10:06
All right, a dropping stock market and a dropping real
10:10
estate. Where else are people going to
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go? You know where this recently
10:14
played out, this exact same scenario in China, It can happen
10:20
here, it's bound to happen here. It doesn't.
10:23
You know, it doesn't make sense. The stock market and in the same
10:27
environment that we just laid out, OK, with a slowing economy,
10:32
OK, so their sales are coming down.
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Fortune 500 companies overall their sales are going to be
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dropping while at the same time, right, because the value of the
10:42
dollar because interest rates are going down, we're going to
10:45
have inflation. If a big if a Fortune 500
10:48
company, let me let me make it real simple to you.
10:50
If their sales are dropping because of a recession and their
10:53
expenses are going up, that means their profit is shrinking
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and that means their stock prices go down.
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All of this is going to play into the hands of people waking
11:07
up in moving money, moving assets into precious metals.
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Right now, you very likely me. OK, we're ahead of the curve and
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we're doing OK, right? We'll take the $2500 gold price.
11:20
Let's go out and check the gold price real quickly here.
11:22
Let's see how much it's changed over the last 24 hours.
11:27
There we go. What a great opportunity as we
11:31
check the gold and silver price to say thank you to channel
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So please continue to support Pmbecs if you want to get your
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Pembex Gold's at 25 O 8 hasn't changed.
12:28
It's Sunday 2508 dollars silver $29.00.
12:32
You know we'll take it, right guys?
12:35
We'll take it. OK.
12:38
Oh, here you want to see why the economy or why the stock
12:41
market's in a bubble? Here we go.
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Let's take a look at this. This, my friends, is a chart of
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the S&P 500 index compared to the US.
12:56
Great. I'm sorry, the Great Depression
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ratio, the gross domestic product, S&P 500 as compared to
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gross domestic product. When you look at this chart,
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what you see is, Gee, are we in bubble territory?
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Look where it went duringthe.com bubble, 250%.
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Look where it was in the financial crisis.
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It was only like what's at the beginning around what, 175%?
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Right now, the S&P 500 index as compared to the gross domestic
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product, gross depression product is almost 350%.
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I mean, sure, we were there back in what, 2021?
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But that's part of the same bubble that we're in right now.
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Undoubtedly, we are in a bubble. And it's not just comparisons
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like this, right? Warren Buffett has his his his
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comparisons everywhere you look, price to earnings ratios.
13:53
Let me briefly tell you about this because it's absolutely
13:57
ridiculous price to sales ratios.
14:00
That means if you take a company stock, OK, and divide that by
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the amount of sales for each that one share of stock, that's
14:09
the the the number of times that that's the that's the price of
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the stock as compared to the sales that are generated for
14:16
that one share. It might be a little confusing
14:19
to you, OK, And I probably didn't do a great job of
14:21
explaining it there, but none the less, the price to sales
14:24
ratio, especially on these tech stocks, the Magnificent 7 or the
14:28
Fab 5 or whatever they call them, is at a point that is way
14:32
beyond way. Think about this.
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Let this sink in way beyond what we saw during some of the
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craziest times during the tech bubble.
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OK, some of these companies are trading like 14 times their
14:48
price is 14 times their sales. Let's all take a quick little
14:52
break and have a sip of coffee. I'll be right back.
15:08
That's what's happening right now.
15:11
What other signs? You ready to be shocked?
15:15
7 signs this this floored me. There's data in this article
15:22
that is truly flooring. This comes from Zero Hedge.
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Title of the article is Extreme Gas Lighting.
15:30
Again. Gas lighting means where you
15:32
fool somebody by doing something over a very slow You keep
15:36
telling them the same thing over and over and eventually they
15:39
believe it or you change things on them, but you do it on a very
15:42
slow basis. It was based upon a movie where
15:45
a guy kept turning the gas lights down very slowly in his
15:49
house and it was driving his wife crazy, but he wouldn't
15:53
admit that he was turning the gas lights down on the way.
15:55
We. I digress.
15:56
Here are 7 signs that the mainstream media is flat out
15:59
lying to you and me about the economy.
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Be ready here, guys. Yeah, right.
16:05
The economy is doing just great, right?
16:07
We got millions of Americans sleeping in their vehicles.
16:10
Thousands of businesses are failing all over the nation and
16:15
most of the country now believes that the American this is sad.
16:19
This is scary and sad at the same time.
16:23
What happened to this country? My gosh, I'll tell you what's
16:26
happening, guys. It's rotting out from the
16:29
foundation. It's it's the, the top is fine,
16:32
fancy new paint job and all that, but the country's rotting
16:35
out from the foundation. This, I thought was a great
16:38
statement. If this is what a booming
16:41
economy feels like, remember we're being told we're in a
16:43
booming economy. We'll have a guest appearance
16:46
from Janet Yellen here in a second.
16:48
But if this is a booming economy, I would hate to see
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what would happen during a recession.
16:54
And don't forget, guys, right? If this is the great times,
17:00
we've got a national debt level that's higher than what we had
17:04
during the great coming out of the Great Depression.
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We could be moving into a Great Depression recession with a debt
17:11
level that's higher than anything by any metric that
17:15
we've ever had. It's, this is downright scary
17:19
and sad, But let's run through these seven points.
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Survey after survey has shown that the economy is the number
17:25
one concern for American voters. What does that tell us?
17:30
What's on everybody's mind? They're struggling financially.
17:34
They're struggling in this economy #2 At this point, the
17:37
economy is in such rough shape that even Dollar General
17:41
customers seem to be running out of money.
17:43
We know that the store Dollar General were many middle class
17:47
and AI. Look my hands up.
17:49
I've been, I don't have one by my house, but I shop at those
17:52
type stores. No doubt about it.
17:54
But that average Americans are running out of money.
17:57
Their stock crashed last week because they said the consumers
18:00
are weak #3 and this is our last retail point.
18:05
When the US economy was booming, Big Lots was thriving.
18:09
Sadly, today's economic environment, the company Big
18:12
Lots, I've been there. I never really liked that store.
18:15
I don't know about you. There's a couple here in Saint
18:17
Louis. It's kind of like a off brand or
18:20
a big discount store. Anyway, they are on the verge or
18:24
have claimed bankruptcy. This is where it gets scary.
18:28
Needless to say, Big Lots is far from alone because the number of
18:32
businesses that are filing for bankruptcy has reached dizzying
18:36
heights of bankruptcy. When a business or a person can
18:40
no longer make things work, they can no longer pay their bills.
18:45
They're giving up. They're saying I surrender, I
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can't pay, sorry. OK.
18:50
Statistics. The annual bankruptcy filings
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totaled 486,000 on as of the year ending June of 2024,
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compared to only 420,000. That's a big increase, 60,000 on
19:10
on 400. I mean, that's what a 20%, no
19:16
what 20, not 20%, but anyway, it's a big increase, a massive
19:22
increase, 10%, no, 15% or so over the last year.
19:26
Businesses, OK, let's see here. OK, Business filings rose 40%,
19:36
Oh my gosh, from 15,700 to 22,000 during the year ended
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June 30th, 2024. Non business bankruptcy filings
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rose 15% to 464,000 compared to 403 in the previous year.
19:54
OK, so non business bankruptcies went up from 400 to 465.
20:00
Anyway, no matter how we look at this, bankruptcies are
20:03
skyrocketing. OK #5 according to Zero Hedge,
20:08
several regional Fed business surveys just fell even deeper
20:13
into contraction territory. The Philly Fed, the Dallas Fed.
20:16
All right, boy oh boy, I'm getting depressed reading all
20:19
this. Approximately number six, 2/3 of
20:22
the entire US population no longer believe the American
20:25
dream is still alive. I was thinking about that this
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morning. You know, like young people.
20:31
I'm 54 years old. I don't know how old you are,
20:34
but yeah, I did. I would not want to be.
20:36
You know, it's an exception. I think they have somebody in
20:38
their 20s who's actually doing well.
20:41
Most people in their 20s in this country, I mean, they're in big
20:45
trouble. Only about 1/3 of US adults
20:48
believe the American dream. This is from the Wall Street
20:50
Journal. OK.
20:53
I found that more than OK from a year ago, 12.
20:56
This is interesting. A survey they did 12 years ago
21:00
found more than half of the respondents believed in the
21:03
American dream just 12 years ago.
21:05
That was when my daughters were born, 2012.
21:08
That it still holds true. So when my daughters were born
21:11
12 years ago, half of Americans believed in the American dream.
21:14
But now only a third believe in the American dream.
21:18
All right #7 total US household debt, This is crazy, has soared
21:24
to a level a household debt. I want you to think about this.
21:27
How much debt do you have? I've talked about many times the
21:31
three fundamentals to being rich, get rid of debt, earn more
21:36
than you spend, and buy silver and gold.
21:39
None the less, 1/4 of the report published this month by the New
21:43
York Fed on household credit and debt found that between the
21:46
first quarter of 2021, three years ago, in the second quarter
21:52
of 2024, credit card debt surged by 48%.
21:58
That is insane. That's we're talking debt that
22:02
people are paying 25% interest on 30% interest, while household
22:08
debt, which includes mortgages and auto loans rose by 20%.
22:13
Wow. In pure dollar terms, credit
22:16
card debt rose from 700 almost 800 billion in 2021 to 1.1
22:21
trillion in the most recent quarter.
22:23
Oh my gosh. So there you have it guys.
22:25
That's the good news. That's, that's the economy that
22:28
we're living in right now. I mean, are you kidding me?
22:32
How are you doing? Susie and I are doing OK.
22:35
We're doing OK, right? But I know very, I have friends.
22:38
I know some people that are getting rich, right?
22:41
Works for one of the big seven tech companies.
22:44
Got lucky, worked hard, but also got lucky being with the right
22:48
company, you know, but most people, right, most of us, it,
22:53
it's a struggle baby, you know, especially if you've got kids.
22:56
I've got 212 year old kids and you want them to have a good
22:59
life and it's hard. I digress.
23:03
Hold on one second. Let's all have a sip of coffee.
23:05
We'll be right back because there's even more.
23:08
God, we got a lot more to talk about.
23:31
It is crazy, right? You know that we want the
23:34
Western investor to come back to the gold market.
23:36
We covered that. OK.
23:37
We know what's going to happen when interest rates go down.
23:39
We know what's going on with the US economy.
23:42
What about this? The are they, we're in for some
23:45
tough times. Are they going to try to pull
23:47
off a CBDC on us? Are they going to try to go all,
23:50
all electronic on the money? There's a story, I'm probably
23:54
going to talk about it tomorrow out of the New York Times was
23:57
reading this morning. They're going to get they want
23:58
to get rid of pennies. There's a big story about what's
24:01
the point of having pennies? We are we moving to a cashless
24:05
society? Are we moving to a CBD based
24:09
society? But most importantly, I'm going
24:11
to tell you why. Yes, why that would actually be
24:16
a good thing for silver and gold.
24:18
Don't throw eggs at me yet. Hear me out on that one.
24:21
OK, but I got a subscriber comment I want to share with
24:24
you. Don't forget guys, every day now
24:28
we are showing a subscriber comment.
24:31
This gentleman, Mr. Destin Stoltz, is commented on the
24:36
video that we did with Pat Holland where we talked about
24:39
these CBD CS, where we talked about this impending elimination
24:45
of cash. And he said, I'm from Ohio and
24:48
I've been going to Cedar Point Roller Coaster Park in Sandusky
24:51
all my life. As of last year or so, bam, no
24:56
more cash anywhere in the park at all.
24:59
So we know that was happening at Six Flags.
25:00
We know it's happening, Pat Holland said at Major League
25:05
Baseball games is in the Minnesota.
25:07
They are getting rid of cash little by little, New York Times
25:10
article this morning. We should just get rid of
25:12
pennies. What's the point of having
25:13
pennies? I'll ask you.
25:15
I'm going to ask you this question.
25:16
I'm going to cover this more in a later live stream.
25:18
But when you're walking down the street and you see a penny on
25:21
the ground, do you pick it up, say yes or no in the in the
25:26
comments? I'll put my answer in there.
25:29
And I'm not too proud to say it. You know my answer, right?
25:32
I bet you think you know it. There's my answer.
25:35
OK. But the point here is everywhere
25:38
we turn there, we're moving away from cash, OK?
25:42
And I think for me, it the the to think, oh, no, well, no, this
25:46
could never happen, right? We could never get rid of cash.
25:50
I'm telling you guys, it can happen and it's happening right
25:53
now. I remember, I'm clearly like, I
25:59
don't know, 10 or 15 years ago. Remember when McDonald's first
26:03
started taking credit cards? I remember that.
26:06
And I remember thinking, this is crazy.
26:09
I can't believe McDonald's is taking credit cards.
26:11
Maybe it was 15 years ago. 10 years ago, I thought I would
26:14
never in a million years use a credit card hit McDonald's, You
26:20
know, even though I always pay my credit cards off, Well now
26:23
that's like normal I bet, I bet, I bet at least 60% of the sales
26:29
that go through McDonald's are on credit cards.
26:31
So for them to get and I feel the same way now when I think
26:35
about cash being gone 10 or 15 years from now.
26:39
No, they'll never take cash away completely.
26:42
No, they'll never go to a complete CBDC.
26:46
I feel that same way now. And I'm, I'm, I'm afraid, right
26:50
that 10 years from now and we'll be here, baby, we'll be we're
26:53
always going to get together, us basement dwellers, right?
26:56
We love to talk about silver and gold.
26:59
That's what we're here for. Did I tell you I appreciate you?
27:02
You're a big deal. Hey, I want you to feel like you
27:04
found a little home away from home within the precious metals
27:07
world. I hope you do OK.
27:10
I hope you feel like you got a place where you can come hang
27:12
out, talk about silver and gold. I want you to come back.
27:16
You know, you can subscribe and all that, but none the less,
27:19
right? 10 years from now when we don't
27:21
have cash, the stuff is gone. I mean, really, I don't care.
27:27
Don't get mad at me. I don't care.
27:29
Take it away, right? It's paper.
27:31
It's nothing. What are we going to have at
27:34
that point? OK, We're going to have, we're
27:36
going to have over here electronic money, OK?
27:40
No more paper. Everything will be right.
27:42
Now we've got electronic money, gold and silver over here and in
27:47
the middle cash. Cash is really closer to
27:50
electronic money, but we're going to get rid of the cash.
27:53
So at that point, we're going to have gold and silver or we're
27:57
going to have electronic money, OK?
28:00
That could result in a wave of people, right, that don't want,
28:05
they want something real right now.
28:07
They're fooled. They think that that paper money
28:10
is real. That could result in a wave of
28:12
people coming over to silver and gold, all right?
28:18
Because right now there is absolutely a massive battle
28:22
going on between dollar Fiat money and gold and silver
28:28
precious metals. We don't realize it, OK, even
28:33
us. That's how that's how that's how
28:37
tricky this whole subject can be.
28:40
But guys, there's a massive battle going on right now in the
28:43
world between real money, gold and silver.
28:46
Look at what the central banks are doing.
28:47
Look what the bank for international side, the list
28:49
goes on and on OK and paper Fiat money.
28:55
So be prepared, OK, cuz it's going to be a wild, wild ride
28:59
over the next 10 years. We're going to see at minimum
29:02
and I don't know for sure maybe I'm wrong.
29:05
Don't make any financial decisions based on anything I'm
29:08
saying. But I, I, my truth, I believe
29:11
100% that right now this massive battle is going on right?
29:16
Someone will emerge. Well, let me put it to you this
29:21
way. I think the good news is that
29:24
it's hard to imagine a scenario unfolding where there's not some
29:29
level of benefit to precious metals, silver and gold, OK, as
29:34
this, as the world changes, as we move away from, right, like
29:38
our viewer said, our subscriber said, right, when you go to the
29:41
amusement park and you can, you can only use, you know, make
29:45
believe money. And at the same time, at the
29:47
same time, right, there's this opportunity.
29:51
Look, the LBMA, the London Bullion Market Association and
29:56
the World Gold Council are working on a gold digitization
30:01
project that I think right, with those two big names behind it
30:05
could really take hold, really get some traction.
30:09
There's a lot of options now out there to to, to, to use digital
30:13
forms of real metal for everyday transactions.
30:16
But really none of them has really gained massive traction.
30:20
I think potentially this, this deal, I think it's called Gold
30:24
247 by the LBMA in the World Gold Council could be the
30:30
catalyst, right? That as the world bifurcates
30:33
right between pure electronic money in real money, gold and
30:38
silver, this big divide, right? While at the same time there's
30:42
this war going on between gold and make believe Fiat money at
30:46
the same time is that bifurcates like that that a massive project
30:52
right from from these these. I mean, the LBMA has been around
30:56
for a long time, boys and girls. They are the kings of gold and
31:00
silver and a lot of the other metals trading.
31:02
So we got the LBMAI don't like them, but nonetheless, we will
31:06
give them a certain level of respect and the World Gold
31:09
Council, it could get super, super exciting.
31:14
Guys, next week is a big week for us in the precious metals
31:18
sector. It's it's the next couple weeks.
31:22
Be prepared because we got a couple big major stories that
31:25
are going to be breaking. I'm going to tell you all about
31:28
it. I'm going to tell you what I
31:30
think you can expect. I'm going to do that in one
31:32
moment. I'm going to have a quick sip of
31:33
coffee because I'm trying to nurse this crackly voice that I
31:36
have today, but it's a big deal. You're here.
31:39
Take a breath. We're going to shift gears a
31:41
little bit. I'll be back in just one second.
31:56
OK, guys, two big stories in the next two weeks.
32:01
OK? This Friday we're going to get
32:04
employment numbers for the month of August, then September.
32:08
Let's go out and look. Hey, Yeah.
32:10
You guys want to go say hello to the Fed?
32:13
Hold on here, let's go check, Let's go to our friends at the
32:18
United States Federal Reserve, the Board of Governors of the
32:22
Federal Reserve. This is their meeting calendar.
32:26
So we're going to get employment data next week, OK?
32:30
September 17th and 18th. So in 16 days will be the big
32:35
Fed announcement on interest rates that will move the
32:39
markets, that will move the gold and silver market, OK.
32:43
But the major employment data next week will definitely act to
32:48
cement what the Fed does with rates.
32:51
There's all this worrying about, is it going to be 1/4 point?
32:54
Is it going to be 1/2 point? Well, the employment data we get
32:57
on Friday will cement that. All I want to say is what a
33:01
joke. Do you think maybe the markets
33:07
going to start like like factoring in that whatever they
33:10
say, the number of jobs created in August, that'll be for August
33:14
since we're now in early September that oh, Oh my gosh,
33:16
Joe, thank you. I like you.
33:19
I like everybody. Joe gave us a big super chat.
33:22
Thank you, Joe. But do you think maybe maybe
33:25
this Friday when they tell us how many jobs were created and
33:30
you know what we need to do? This is great.
33:32
This is funny. What we need to request from the
33:36
Bureau of Lies and Statistics, I'm sorry, I misspoke.
33:40
The Bureau of Labor and and Statistics, we need to
33:44
officially make a request of them that when they put out
33:47
these numbers on Friday, they're going to tell us how many jobs
33:50
were created in August, right? That they tell us how many real
33:55
jobs were created and how many of those are make believe fairy
33:59
dust jobs, right, Because we know that last year they, they
34:02
overstated the number of jobs by almost 1,818,000.
34:10
So when's the market going to where, when are people going to
34:12
wake up and be like, because that'll that'll have that is
34:15
going to be really, really this Friday will unfortunately,
34:21
right. It'll be like the biggest.
34:23
It'll probably be the big the big deal because the based on
34:26
what these jobs numbers are make believe fairy land jobs numbers.
34:32
Maybe all the jobs are at Disneyland and it's a small
34:35
world. After all, there's 818,000
34:38
people in there, right? I mean, come on, are they
34:45
counting the fact that my daughter scoops out the Kitty
34:48
litter thing once every couple days and she makes 5 bucks?
34:52
Is that a job Bureau, Labor and statistics or the fact that she
34:56
makes her bed also, that's another job.
34:59
I mean, what what we really need to ask from these guys, because
35:02
this is going to it's really sad.
35:05
It's really it really is think about it.
35:07
That's that's going to move the market.
35:09
So when they when they say, oh, and let's go see what they're
35:12
expecting, let's go. We'll give them a little
35:14
credence here. I think I have yes, I do.
35:16
Thanks again, Joe for that super chat.
35:18
Thanks to everybody who donates to the channel because in this
35:22
high inflationary environment, it goes a long way.
35:26
Now let's go up here. Here we go MarketWatch.
35:30
This is the economic calendar for next week.
35:32
Tomorrow's a holiday. Tuesday, there's really nothing
35:35
big. Wednesday, there's nothing big.
35:39
Thursday, there's nothing big. Friday's the day.
35:43
Oh, and then I got another it it gets even better.
35:46
OK, US employment report, they're not giving us the
35:49
prediction, but last month the number.
35:53
Well, here, hold on, Let me see what we got here.
35:56
Let's look here. Forecast in previous.
35:58
OK, so the forecast is hold on here.
36:06
There it is. All right, there it is.
36:10
Friday, September 6th, US unemployment rate.
36:14
OK, so previous was 162, the forecast is 114.
36:18
Well, that'll be an easy number for him to beat.
36:20
It'll all be by dynamics, but nonetheless unemployment rate
36:24
around 4.24 point 3%. Anyway, they're going to make a
36:27
big deal about this and, and, and, and on a very temporary
36:31
basis. And that's what's another
36:33
critical thing for us to remember guys on a very
36:37
temporary basis, right. It's going to have a big impact
36:41
on the price of gold and silver. Friday could be one of those we
36:45
go to 2026 hundred in gold or it could be one of those days where
36:51
the gold price drops by 50 dollars, $60.00.
36:55
Feel like my camera's flipping on me or something.
36:57
I apologize. But the critical thing for us to
37:01
remember is this is short term noise, OK?
37:06
Absolutely nothing but short term noise.
37:11
The long term picture, right? The fact that the economy, we
37:15
got bankruptcies going through the roof, What does that tell
37:19
us? OK, debt.
37:21
I mean, those debt numbers that have grown over the last three
37:24
to four years. The consumer is dead.
37:27
Big Lots is, is, is claiming bankruptcy.
37:31
The Dollar General store is, is crashing because people don't
37:36
have money. the US economy is rotting.
37:39
I don't like it, OK, but because of the the gross distribution of
37:45
wealth in this country, right, where the people in the middle
37:48
and the bottom have less and less real money, real value to
37:52
use to live and survive, it's eroding from the bottom, from
37:56
the foundation. We know what that eventually
37:59
means, right? So short term noise, right?
38:02
Even with the Fed coming up in two weeks, even with these
38:05
employment numbers, but the long term picture remains intact.
38:11
People are going to be freaking. I think in six months or a year,
38:16
people are going to be very concerned.
38:19
Did I say freaking? People are going to be freaking
38:21
because they're going to go to the grocery store, you mark my
38:27
word, and they're going to see a gallon of milk, right?
38:31
That went from being $3.95 to $7.95 or $6.95.
38:38
And they're going to be freaking and they're going to be, you
38:41
know, if they have any money, if they have 100 grand that they
38:44
had in ACD and then they go home and their wife says, you know,
38:48
that C DS come and do. And we got 5% last time and they
38:51
look like, well, now we only can get 4%.
38:54
It seems like it's going down. All right, People are going to
38:57
be looking for safe harbors. Maybe they would want to put
39:00
their money in the stock market. No, because that's not doing
39:03
good. Maybe they're going to want to
39:05
put their money into real estate.
39:06
No, because that's a bubble. People are going to move to the
39:11
precious metals. There's absolutely no doubt
39:15
about it. The other thing we need to keep
39:16
our eye on, guys, is China. Here's a little secret.
39:20
OK, here's a little secret. We need to pay attention to
39:25
what's going on in China, because guess what that scenario
39:29
I just outlined for you about what I think is likely to happen
39:34
in the United States already happened in China.
39:37
But there's some other big, major things that we can be
39:41
hearing in the coming months out of China.
39:44
Absolutely. I'll tell you about that in one
39:46
second. First, I want to say thank you
39:47
to channel Sponsor First Mining Gold.
39:50
They've got gold in the ground in Canada.
39:53
They're a development stage company with two multi million
39:56
ounce projects, one in Quebec, which is getting very hot
39:59
lately, the province of Quebec and 1:00 in Ontario.
40:03
Also, I want to say thank you to Fortuna Mining.
40:08
They're a gold and silver mining company with operations in Latin
40:12
America, silver and gold and West Africa, right?
40:16
They're over a billion dollar market cap company.
40:18
They got one of the best management teams in the business
40:21
and right now they appear to be firing on all cylinders.
40:25
But what about China? OK, remember what we just talked
40:29
about? There's a big, big potential
40:32
catalyst coming out of China. I'm going to tell you about that
40:35
one second. Let's all have a sip of coffee
40:37
and I'll be right back. We already know a couple things
40:47
about China. They're the world's biggest or
40:50
second biggest economy, depending on who you want to
40:52
listen to. They actually say they're the
40:54
world's biggest, which I find interesting.
40:56
And maybe they are like, you know, why would we believe maybe
40:59
our Bureau of Labor and Statistics does that
41:02
calculations for the US anyway, on top of that, we know how they
41:08
already feel about gold and silver.
41:09
Remember those pictures? 800,000 people.
41:12
That's not the big story about China.
41:14
We know Chinese people. Here's a little, here's a little
41:18
secret for you. Chinese people don't trust their
41:21
stock market. Chinese people don't trust their
41:25
banks and Chinese people really don't trust their real estate
41:31
market. And that's not even the so.
41:33
So they're putting all their money into silver and gold.
41:35
That's not the big story. That's not what we need to keep
41:37
our eyes on, OK? Because what's going to happen
41:41
in China, and I have this on good word from a very reliable
41:45
source, is that they are preparing some type of mass
41:50
stimulus for their people, for their economy, OK, That would
41:56
boost demand. I mean, rocket fuel, demand for
42:01
copper, for silver and for gold, right?
42:06
Because the people of China are smart.
42:07
They know the paper money is all Unicorn fart dust.
42:11
Trust me. OK, So if this massive stimulus
42:14
program that we could see from China in the coming months
42:18
happens, all right, again, this is what I would call accurate
42:24
speculation at this point. It could create another massive
42:28
wave of demand for the metals. Hey, guys, it's a big deal.
42:32
I want to say something to you here.
42:34
It's been a while, and I want to say thank you, OK, for joining
42:38
us in the basement. Thank you for supporting this
42:40
channel. It really means a lot to Susie,
42:43
to myself. We got a great team of
42:45
moderators, Big Tim, the Silvershire, Jake from Jake's
42:48
Custom Parts, and the one and only Annie Oakley, who's with us
42:54
this morning. You know, Susie and I work very
42:57
hard on this. It's worth it, OK, we will
43:01
always do our best to kind of get this news to you, get this
43:05
information to you on a daily basis.
43:09
So we just want to say thank you, all right, because really
43:11
the truth is this it's you that makes this possible that
43:15
everyone of you. And so yes, I'm talking to you,
43:18
you, you, right, the individual, yes, you, you came from your
43:23
mother, people love you, You have family, you have friends,
43:26
you have jobs, everybody you know, you've got a unique story
43:29
and you are what makes this possible.
43:32
Please, please. All right, leave comments.
43:35
You can always send me an e-mail.
43:36
I do my best to respond to everybody, but just realize how
43:41
important you are to this channel because I've tried.
43:45
I've already written 3 letters to YouTube expressly asking them
43:50
to change it to Ron Tube and they won't, you know, because
43:53
it's not Ron Tube, it's YouTube. So have a great day.
43:56
Thank you for being here. OK, Leave a comment in the
43:59
comment section. Smile with me, everybody, smile.