Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / SILVER STACKERS - $37 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price... (Election, RECESSION)

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SILVER STACKERS - $37 🚨 ALERT! 🚨 -- Massive NEWS for GOLD & SILVER Price... (Election, RECESSION) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Today is a massive day for the silver price and the gold price,
0:05
$37 silver, $26 silver. I can guarantee you one thing,
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one of those numbers will come first.
0:17
And in this video, we're going to talk about why I think the
0:20
$37 silver price will come first.
0:24
But today we're taking it on the chin as silver and gold
0:28
investors. That's normal.
0:30
Nothing will go straight up. But why is today so important?
0:35
Why did we talk about this? I warned you yesterday and a few
0:39
times late last week that today, right, September 30th is the
0:43
last day of the third quarter. If there was ever a day if, if
0:50
just if basement dwellers, there's a slight chance that
0:53
possibly anyone out there is manipulating the price of gold
0:57
and silver, Today would be the day that they want to manipulate
1:02
it down because the end of the quarter numbers will be recorded
1:06
at the end of today. And that's what a lot of people
1:08
look at, a lot of big traders. So let's make it through today
1:12
and then we have three more months through the end of the
1:16
year. Yes, we will get to 37 dollars
1:20
silver. Yes, I believe we will get to 44
1:24
dollars silver. But let's dig into some of this
1:26
data. We got a lot more to talk about
1:28
as well. The bricks, new news coming out
1:31
about the big bricks meeting that we're going to have really
1:34
soon and there's a lot more big news for the election.
1:38
Just so much going on. Let's dive right in though to a
1:40
great article from Kitco that gives us some keen insight into
1:46
what's going on. This one from Dave Earthly, he
1:48
writes a newsletter called the Junior Junior Mining Junkie.
1:53
Great guy. I've had him here in the
1:54
basement before as a guest. Really super smart and on top of
1:58
that even more important, just a very nice person, he says.
2:01
With gold at all time highs, silver remains cheap.
2:08
Got a few things highlighted I want to share with you, he said.
2:12
Although gold has recently made the headlines, silver has
2:16
quietly surged from just under $20.00 an ounce last October to
2:22
a 12 year high of over $32 an ounce last week, outperforming
2:27
gold. Guy, silver has had a stunning
2:31
gain. OK since when?
2:33
October of last year of 65%, right?
2:38
Tomorrow will be October. That means one year ago right
2:41
now, silver at one point hit below $20 per oz.
2:45
We've had a great, great run, but will it continue?
2:50
It says the Silver Institute gave us their forecast of the
2:54
deficit silver demand. I'm sorry, Will, will reach a
2:57
near record one 1.2 billion ounces in 2024, primarily due to
3:03
solar. We've talked about that.
3:05
We know what's going on in Australia, we know what's going
3:08
on in India, and now they're talking about massive solar
3:12
projects here in the United States.
3:13
Solar is just exploding, OK, But let's talk about last week.
3:19
The rally, the rally that we had last week in silver and the
3:23
other industrial metals. Follow China's broad stimulus
3:28
package. That could be another key driver
3:30
behind the next leg up in silver.
3:33
China's central bank unveiled its biggest stimulus last week
3:39
since the pandemic. China is in panic mode, guys.
3:43
And China was already driving the price of gold, already
3:48
driving the price of silver. And as they continue to
3:51
stimulate, we could see an even more robust level of demand, in
3:56
particular for silver. Here we go, $37 silver in red.
4:03
Silver is going to continue to rally over the coming quarters
4:07
because of the consecutive rate cuts and as China's stimulus
4:12
could continue for some time, said Amelia Zhao Fu, head of
4:17
commodity markets at BOCI, adding that she sees the price
4:22
moving towards $37. Do you see?
4:27
Hold on, did we lose you there? Hopefully we're still alive
4:30
here, guys. OK, $37 per oz.
4:34
Let's get back to this article. And we got so much to cover
4:39
today. The silver price surged above
4:41
$32 last week can also be attributed to strong demand
4:46
during and we don't talk about this is India is the precious
4:50
metals capital of the world. We know unbelievable amounts of
4:55
gold, but even more so silver being imported by India.
5:02
Their strong demand, their festive season and wedding
5:05
season are coming up, a period typically marked by increased
5:08
purchases of precious metals. The positive trend is likely to
5:13
continue as bountiful monsoon this year will brighten crop
5:19
prospects, potentially boosting disposable incomes of farmers, a
5:24
major consuming group. If you if you heard this, I've
5:29
heard it for years. Indian farmers and I think
5:32
they're mostly rice farmers are some of the biggest buyers of
5:36
silver in the world. What we're hearing from Dave is
5:39
that apparently there's going to be a good rice crop in II has
5:44
billions, 1.4 billion people. We're talking potentially
5:49
hundreds of millions of people. Think about that.
5:52
Let's say there's, I have no idea, but let's say there's 300
5:56
million Bryce farmers in India and they have a good year and
6:02
all 300 million of them by 2 ounces of silver.
6:05
That would be 600 million ounces of silver.
6:09
That would be half more than half of the entire supply for
6:14
the year. Just just doing some very rough
6:16
math, throwing out some some ideas there.
6:19
I have no idea Somebody if you want to e-mail me, I'll look it
6:21
up later. How many rice farmers are there
6:24
in India? Silver imports to India jumped
6:27
this is crazy from 158 million in August of last year,
6:32
158,000,000 August of 2023 to 1.33 billion in August of 2024.
6:42
That's darn near like what? That's a 9 * 9 times, not 9
6:47
percent, 9 times increase. With over 3.5 million weddings
6:53
expected this year, there are so many people in India, 3.5
6:58
million weddings. Demand for both gold and silver
7:00
jewelry is also expected to rise by 25%.
7:04
Let me look. I need to look you in the eye
7:06
and explain something to you quickly.
7:09
Indian people love silver and gold.
7:12
There are hundreds of millions of Indian people, OK?
7:16
They buy jewelry as an investment.
7:19
So you may say, oh, jewelry, What does that matter?
7:21
No, Indian women buy buy gold jewelry, buy silver jewelry as
7:27
an investment. You know what somebody told me
7:29
off the record? You know why they do that?
7:31
Why the women buy the jewelry? Because if their husbands ever
7:34
leave them, the jewelry. This is what I heard.
7:38
I'm not, I'm not saying this is the gospel or anything like
7:41
that, but if their husbands leave them, the only thing they
7:44
get to keep is their jewelry and they know it has value.
7:48
So Indian jewelry is weighed. It's like an in the United
7:53
States, we look at at coins and bars is a good way to invest in
7:57
silver and gold. Well, guess what, in India,
8:00
they're actually there may be a little smarter than us.
8:03
They're like, hey, if we're going to buy gold, we're going
8:05
to buy silver. We might as well have it have it
8:08
be something very pretty, something that we can wear.
8:15
Experts like Rajesh Rakdi predict further price increases
8:20
due to heightened consumer interest.
8:22
Rakdi, a prominent jeweler, predicts that silver prices
8:26
could continue to rise as demand remains strong, particularly
8:30
given the reduced import cost. And we've got to remember this
8:34
about India as well. They have like the most number.
8:38
I think it's like 100 million people that they're projecting
8:42
are going to move into the consumer class just in the next
8:46
5 to 10 years. They've got their economy is
8:49
expanding like crazy, OK. And these are people who are
8:53
going to have disposable income to buy the electronics, to buy
8:57
the, the all these electrical things, all that use silver, but
9:01
also people who for the first time will have disposable income
9:05
with which to invest in silver and gold.
9:08
This this was interesting in orange with silver futures
9:11
looking to post a 12 year high monthly quarterly close above
9:16
$32. We're going to go do an update
9:18
on the price here. I don't know if that's going to
9:20
happen, but the last time this feat was accomplished during a
9:24
major up leg was in Q4 of 2010. The metal then went on to trade
9:30
at its all time high of $50.00 an ounce within the space of 100
9:35
days. If this is a leading barometer
9:37
of predicting the future performance of silver prices, we
9:41
could see silver at $50 by Q1 of 2025.
9:47
Again, we're looking at history. That's not that long ago, guys.
9:51
OK, 2011 when the last time this happened and silver exploded up
9:57
to $50.00. And then he talks about the gold
10:00
to silver ratio. That is another crazy factor,
10:04
right? 84 to 1848386 to one, wherever
10:08
it's at right now, historically Nosebleed levels that you're
10:12
going to have to take 84. Think about that.
10:15
Take 84 of your silver ounces to get one ounce of gold.
10:19
Unbelievable. With silver being ignored by
10:23
investors for the for the past several years, the silver equity
10:27
complex might be the best trade right now.
10:29
Many quality junior silver miners are still at rock bottom
10:34
prices. I believe that 100%.
10:36
And what that tells us is there's no money going into yet
10:40
the junior silver mining sector, the explorers, the developers,
10:45
even the small, small scale silver miners.
10:49
What does that mean when this when this paper manipulated
10:52
price gets broke, when the physical market overtakes the
10:55
paper market, that means there's not going to be an immediate
10:59
supply of new silver. There's no switch out there
11:03
basement dwellers. They can be turned on to to
11:07
create more silver out of the blue.
11:10
When the when the market breaks, when the silver price
11:13
skyrockets, when the COMEX, I think it's like $12.00 an ounce
11:17
is the maximum that silver's allowed to go up in any given
11:20
day on the COMEX. There's like the circuit
11:22
Breakers. It doesn't matter.
11:25
Sure, there's going to be a small little marginal, itsy
11:29
bitsy part of increased production, right?
11:32
Miners will do some high grading, but really there's not
11:36
going to be enough silver and it's going to take decades for
11:40
the silver mining industry to catch up.
11:43
I could be dead wrong, right? I have a lot of my money in
11:46
junior silver mining stocks because if nothing else, I mean,
11:50
you can buy these things and it's like you're buying silver
11:53
in the ground, even in North America, Nevada, or even in
11:57
British Columbia for like a dollar or two per oz.
12:00
I digress right? But just so you know, right, I
12:04
eat my own cooking right? Our, a lot of my wealth is tied
12:08
up in physical metal, which I keep off site and physical stock
12:13
certificates in mining companies that I also keep off site.
12:18
But nonetheless, I'm eating, we're eating our own cooking.
12:21
Susie and I, I have a vested interest in the price of these
12:24
metals going up. Probably like you do, right?
12:27
We're probably not too different in that regard.
12:30
Let's quickly go to a viewer comment before I forget.
12:33
Thank you, Basement dwellers 500 on a Monday morning.
12:37
What are you guys doing? What an honor, right?
12:39
It's a big deal. We appreciate you being here.
12:42
Yes, you. I see you when you're here.
12:45
You're part of the group. Welcome to the club, right?
12:48
We're in for some good times. We've already had some good
12:50
times. We took the blindfold off that
12:52
bear, all that crazy stuff. But none the less, we're in for
12:55
some good times. Thank you.
12:57
Please subscribe to the channel, give the video a thumbs up.
13:00
Super chat, super thanks. Support of any type are
13:02
certainly appreciated. Oh, we want to go to the viewer
13:05
comment. This was a great one.
13:06
We haven't talked about this. This is one of those things you
13:10
maybe you forgot about, and this will make you feel good in one
13:15
way, bad in another way about your investment in silver.
13:22
Wrong slide. That's the jewelry store by my
13:25
house that suddenly now decided to become a bullion dealer right
13:30
here from Michael McDonald. Silver is the lifeblood of war.
13:36
There's too much war chasing too little silver.
13:38
The amount of silver currently being destroyed in these wars is
13:43
incredible. And we don't talk about that.
13:44
I know Andy Scheckman and some of the other leading analysts
13:48
have talked about hundreds of Oz of silver, for instance, being
13:52
in the tip of a of a Tomahawk missile.
13:56
But we don't like war. We're not in favor of war and
13:58
violence. But the reality is right, we
14:01
can't keep our heads in the sand.
14:02
It's going on in a massive scale throughout the world right now
14:07
in the defense sector doesn't really doesn't really get
14:10
reported how much actual silver is being used.
14:13
So we talked a lot about solar demand, AI demand, investor
14:18
demand, but something that always gets swept under the rug
14:23
is the amount of silver used by by the by the defense oriented
14:28
companies to manufacture right. And a lot of the stuff they
14:31
manufacture, right, gets destroyed #1 unfortunately and
14:37
#2 it's very high tech. And don't we know one thing
14:40
about silver? Like anything high tech uses a
14:43
lot of silver. So thank you very much for that
14:46
awesome comment, guys. You leave comments, please.
14:50
You, Yeah, leave a comment. You got to subscribe, but leave
14:52
a comment. We read all the comments.
14:53
Your thoughts matter together, right?
14:56
We can make it through all this. This week, massive news story.
15:00
This week is going to be the jobs number.
15:06
The jobs number on Friday, we're going to hear from the Bureau of
15:11
Labor and Statistics. This will have a major impact on
15:16
the markets. It likely, right?
15:18
Buckle up, buttercup will have a major impact on the price of
15:22
gold and silver. Right now.
15:23
I know it's on Friday, but but let's go out to the quick
15:29
headlines because this is going to be the biggest news story in
15:32
the history of the universe for the silver and gold markets.
15:41
This is what Yahoo Finance is saying.
15:43
They're saying a critical labor report meets a stock market at
15:48
record highs. What to know this week?
15:51
OK. And then it's just a bunch of BS
15:54
and I'm not going to waste your time reading.
15:57
Oh, here, this is what I want to show you.
16:00
OK, here's what I want to show you on the left, monthly change
16:07
in payroll in thousands. Let's get the Crayolas out
16:10
because there's something very important that we need to
16:13
notice. We are like super technical
16:15
chart readers here in the basement, guys.
16:17
Monthly change and payroll. Do you see, do you see what's
16:22
happening since January of 2022? The number of jobs is going down
16:29
and there's something even crazier about this.
16:31
And do you see this over here? I'm sorry, somebody was texting
16:38
me over here. The unemployment rate appears to
16:42
be going up. And this, my friends, will have
16:46
this. This will have a major impact on
16:48
the silver and gold prices Friday.
16:50
We're going to get dropped with the big news bomb OC and OK, OK,
16:54
so so the number of jobs being created is going down.
16:57
The unemployment rate is going up.
16:59
You know, you live in the real world, right?
17:02
It's hard out there. Middle class America has been
17:05
decimated at the expense of the ultra wealthy.
17:08
But they're they're more important than me and you,
17:10
right? They deserve to have all the
17:12
money in the top 10%, one percent, 3%, whatever the case
17:16
may be, I digress. The big joke.
17:20
Let me pull it up very quickly one more time about this that
17:25
you're looking at. OK, I got news for you guys.
17:28
I don't know. You're probably about my age.
17:30
Do you remember? It's all a big joke, OK, it's
17:34
all a big joke. Do you remember that TV show
17:37
when we were growing up, you probably remember, called
17:39
Fantasy Island? It's like we're getting these
17:42
numbers from these employment numbers from Fantasy Island.
17:45
Let me remind you of one thing. Just recently the Bureau of
17:49
Labor and Statistics adjusted their numbers from March, the
17:54
numbers they reported from March of 2023 all the way through
17:58
March of 2024. And they said oh oops, oh we
18:02
made, we made some mistakes. We overstated the number of jobs
18:07
that were created during that one year period, March of 23
18:11
through March of 2024. We, we, we, we over reported by
18:16
818,000 jobs, almost a million jobs.
18:22
So on Friday in every month when they report the numbers, you
18:26
know what happens, right? They they quietly in the
18:28
background say, oh, this month we created all these jobs by
18:32
dynamics is working, everything's great, blah, blah,
18:36
blah. Let's torpedo the price.
18:38
Because if we get a big jobs number Fantasy Island on Friday,
18:43
that's going to torpedo. That's not going to be good for
18:46
the price of gold and silver. Be ready.
18:48
All right, we got to be strong, strong and we will be strong.
18:50
But but every month when they report the numbers and they all
18:55
in the background, they quietly say, oh, and by the way, the
18:59
previous two-month numbers that we gave you, those were wrong.
19:03
We're going to, you know, the month, last month we said we
19:06
created 190,000 jobs, but we only created 130.
19:11
And the month before that, those were wrong too.
19:14
We overstated those by about 30 or 40.
19:18
It happens every single month. Fantasy Island.
19:23
I mean, really, on Friday we might as well watch Cinderella
19:28
in the Seven Dwarves or Snow White in the Seven Dwarves,
19:31
whatever the heck it is. It's Fantasyland.
19:33
And the big one more big, big, big, big thing.
19:39
That why we need to be skeptical of these numbers on Friday.
19:43
If there was ever a labor report that was set up to be
19:48
manipulated, it would be this one.
19:51
Is it going to be? It's probably going to be the
19:52
last, the last one that's really going to get have meat for the
19:57
election coming up. I'm not saying I'm not accusing
20:00
anybody of anything. We're just we're just saying
20:03
that you were wrong over the last year by almost a million
20:06
jobs. We know that there's a big
20:11
election coming up. Wouldn't it look great?
20:14
Right that if we had all meet we created a record number of jobs.
20:17
You know a record number of Fantasy Island, Cinderella and
20:22
the seven dwarfs make believe Unicorn fart does jobs.
20:27
OK, go ask those. I'll end with this.
20:32
I wonder if those 818,000 people right over the last year, they
20:37
got all those make believe jobs. I wonder if they got make
20:41
believe paychecks. They got the cash.
20:43
I mean, the, the whole, it's, it's like we're living in a
20:45
fantasy land, crazy land in this election.
20:49
Wait till we got, we got a lot. We got a lot more to talk about.
20:52
I want to say thank you to the very special person who gave me
20:56
this. This came from one of the most
20:58
special people in my life. She knows who she is.
21:01
I got this. Isn't that beautiful, huh?
21:03
It's an 1879 Morgan dollar, like brilliant uncirculated
21:08
condition. This is my box.
21:10
I just want to quit. I'm going to share something
21:12
with, you know, things sentimental.
21:15
I keep this box. It's got silver that's given to
21:18
me. A lot of it's been given to me
21:20
from basement dwellers of any silver.
21:22
I have the stuff that I get from you guys and from this person,
21:27
and she knows who she is. I love her.
21:30
She probably loves me more than anybody in the world is the most
21:33
special. So thank you for that hold on
21:37
here, man, it's crazy what's going on.
21:40
So we got oh on top of it. OK, let's go to the economic
21:43
calendar just to be just so you're prepared and when you're
21:47
at the Country Club today having your lunch, you can talk about
21:51
the economic calendar, what we have to expect this week.
21:54
And as you can see down here this is Friday impact bright red
21:58
non farm payrolls. OK.
22:00
We also have on Wednesday the ADP numbers crude, we don't
22:05
really care about the manufacturing index on Thursday.
22:08
These are all things that can that will have big impacts on
22:13
the silver and gold price. But if we go down here to the
22:17
non farm payrolls, here's what we're expecting, OK, we're
22:21
expecting 125,000 jobs to be created.
22:26
Last one was 118. Again guys be ready, they're
22:29
going to I'm not accusing anybody of anything and I could
22:33
be wrong, but they're going to fudge those numbers.
22:36
Friday could be crazy town. OK, absolute let's go out and
22:40
check on the silver and gold price take a double dosage of
22:44
our high blood pressure medicine because it is not good here we
22:50
are a channel sponsor Pembacs. This is not the updated price
22:54
boy. OK, well it got a little better.
22:57
Silver, one point was down like $0.70 silver above 31 dollars,
23:02
$31.17 gold. Oh gosh, gold, Oh no, it's a
23:07
$26134. These are good prices.
23:11
We got to remember guys, it's not and nothing goes straight
23:14
up. So let's hang in there.
23:16
You never know what the rest of the day can bring will come
23:19
back. But right now I know one thing
23:21
for sure, if you're looking at buying some gold, silver or
23:23
platinum group metals, if you buy it today, you're going to
23:28
get it cheaper than you did on Friday, get a better value,
23:31
maybe get an extra oz or two. If you do decide to buy yourself
23:35
some metals, please consider channel sponsor Pembex.
23:39
Hey, they help us make this possible, right?
23:42
Basement dwellers, our little club, we have here our little
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get together. You get to be part of this
23:48
group. I get to be part of this group
23:50
and we get to do that because of the support of the sponsors.
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Pi MB EX online bullion dealer. I'm not going to tell you what
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24:02
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24:18
with IRA conversions as well. Please be very careful if you
24:24
ever decide to convert an IRA into precious metals.
24:27
Take your time, look at all your options.
24:29
All right, that's not financial advice.
24:31
That's just good solid advice that I want to share with you.
24:35
When I was looking at this last night, you know, my daughters,
24:38
my daughters are getting old. That's upside down.
24:41
Here's the back I love Morgan's is Morgan am I the only one who
24:45
loves Morgan silver dollar so much?
24:48
I know they're look at that thing.
24:50
Isn't that beautiful? We were watching Little House on
24:55
the Prairie. You know that TV show that was
24:58
like during the 80s after like, you know, coerce my daughter's.
25:03
But they're they're they're always talking about when they
25:05
pay people on Little House on the Prairie.
25:08
This coin, I just want to show you this quickly is from 18, 79.
25:13
I don't know if you can read that.
25:15
I don't know if it'll focus. Yeah, there it is.
25:17
See it 18. Hey, guys, 1879.
25:24
That's. I don't know what you're the
25:26
Little House on the Prairie set, but it's probably around that
25:28
same time period. This coin, right?
25:31
Charles Ingles was using these to pay people, right?
25:36
They had a handyman at their house on Little House on the
25:38
Prairie. He paid the guy with silver
25:40
dollars. OK, about one of these, probably
25:43
per hour. Guess what?
25:45
Right now this is worth, what, 3030?
25:47
Five, $40? I could pay somebody for a
25:51
decent handyman for an hour of work.
25:53
Silver holds its value. Let's talk about the bricks.
25:57
The biggest news story that you're not going to hear about
26:02
on the mainstream media, that you're not going to read about
26:05
in your local newspaper, but the bricks could be instituting a
26:09
gold backed currency, a gold backed trade settlement
26:12
currency. Everybody's talking about it.
26:15
It's a big, big deal. Let's have a cup of coffee, a
26:18
sip of coffee, and then we'll be right back.
26:32
And I got good news for you. No matter what happens with the
26:36
bricks, gold and silver are going to do well.
26:40
Because I want you to think about this.
26:42
If they do officially announce a gold backed trade settlement
26:46
currency, 40% backed by gold, which the Russians have
26:50
indicated could potentially likely be the case, Oh my gosh,
26:56
it's going to rock the world financial system.
26:59
What if they don't? Are we do?
27:01
Are we doomed? Are we done?
27:03
Are we finished? No, because think about this.
27:08
OK, we know. Or even if they don't announce a
27:11
40%, a gold standard, whatever you want to call it during this
27:14
upcoming meeting, which is in three weeks, 3 weeks, OK, even
27:18
if they don't, they're still right now moving all of their
27:24
trade, the BRICS countries away from the dollar.
27:28
So think about this. If the and they don't, they
27:32
don't trust, they don't want dollars, OK.
27:36
And on top of that though, they don't want to hold each other's
27:38
currencies. They don't want to.
27:40
China doesn't want to hold a bunch of Indian rupees and and
27:43
Russia doesn't want to hold a bunch of Indian rupees or
27:46
Chinese yuan. Even if they don't officially do
27:49
a gold backed currency, what they are going to do is they
27:53
continue to de dollarize. And because they don't want
27:56
dollars and they don't want each other's currencies, what do you
27:59
think they're going to buy? They're going to buy gold,
28:06
alright? It's, it's, it's like, it's like
28:08
gold wins no matter what. Silver wins no matter what, OK.
28:13
So it's going to be critical that we stay on top.
28:16
And I will, over the, over the coming weeks, developments with
28:19
the BRICS meetings. They're talking about North
28:23
Korea joining the BRICS. The Taliban expressed interest
28:27
in going to the BRICS meetings. I mean, the world right now is
28:31
changing like never before #1 #2 OK #2 we know that the precious
28:39
metals are, are, are playing an increasingly important role in
28:44
the economic system of the world.
28:47
They're regaining their luster. They never went away.
28:50
Guys, I got news for you. We live in Fantasyland, right?
28:55
This is Fantasyland paper. Worth money.
28:59
Yeah. Worth worth value.
29:01
Yeah. I've been.
29:02
I've been brainwashed. This what was this worth 300
29:07
years ago? I wish it wasn't the case.
29:10
OK, what you know, it's it. This was when it was worth
29:15
something. It's time for the daily visit
29:17
from this. Come on.
29:19
Focus for me. Focus.
29:21
There it is. Silver certificate.
29:25
This is when it was worth something.
29:28
I look and that's what our I I think I'm safe saying that.
29:33
That's what our founding fathers, right, Hamilton, right.
29:37
It's what the leaders of our country, you know what
29:39
Jefferson, Thomas Jefferson said about central banks?
29:43
You know what? The president, the guy who was
29:46
President Woodrow Wilson, he was the president who signed the
29:49
Federal Reserve Bank into existence.
29:51
And like three years later, he wrote this big piece saying I'm
29:55
the most depressed, sad man. I have ruined my country, OK?
30:00
So it's OK for us to feel this way.
30:03
It's OK. What about the election man?
30:09
Gold and silver provide you with stability, safety during times
30:14
of uncertainty. Do we are we we're in the final
30:18
stretch guys, Let let me let's let's hear what let's hear what
30:22
Marjorie Taylor Green had to say.
30:24
She is AUS representative. So again, I think I'm safe
30:27
saying this. This comes from zero hedge.
30:29
She says quote, UN quote, be prepared.
30:33
Marjorie Taylor Green warns we are in, quote, the most
30:36
dangerous phase in 2024 election.
30:42
She's a representative. She issued a stark warning on
30:45
Saturday about, quote, the most dangerous phase of the 2024
30:50
presidential election, with President Donald Trump leading
30:54
Vice President Kamala Harris in several polls.
30:58
Green suggested that Democrats, quote, will do anything to stop
31:03
him later emphasizing anything. This is just what she's saying.
31:07
She's an elected US representative.
31:10
I'm not a political statement. I'm just kind of keeping us
31:14
abreast as to what our elected leaders in Washington are saying
31:19
right now. In a grim post, she wrote.
31:22
The momentum shift has happened. Trump is leading and his support
31:26
is rapidly accelerating. She then added They've already
31:30
been trying to put him in prison and literally assassinate him.
31:35
Wow. Wow.
31:36
That's AUS representative saying that.
31:40
And think about that guy. Think about that.
31:45
What kind of world are we living in?
31:47
We have a presidential candidate, a former president of
31:51
our country who what, in the last two months, there's been
31:55
not one, but two attempted assassinations.
32:01
I mean, doesn't that sound like that sounds like, and we're
32:05
going to talk about Africa, Nothing against Africa, but
32:08
there's a lot of political turmoil and coup d'etats and
32:11
things that happened over there. Sounds like, sounds like
32:14
something you hear out of some of these African countries.
32:17
That's why. That's why, you know, I don't
32:20
want anything bad to happen to anybody either through war,
32:23
assassination, anything but the uncertainty level right now that
32:27
you and I do you remember any other time in history like this?
32:32
I don't. I'm 54 years old.
32:34
I'm not some cranky old man, but I've been around for a few
32:38
decades and baby, this is the 90s.
32:41
We're nothing Y2 Ki mean. Do you is do you agree with
32:46
that? Like we are in strange, scary,
32:49
scary, scary times. And scary times call for
32:54
insurance policies. And there's no better insurance
32:56
policy on the face of this planet that has lasted for
33:00
thousands of years. I mean, come on, baby.
33:04
Than silver and gold. And by the way, I forgot.
33:06
Did I tell you? Thank you.
33:08
Thank you for being here. You OK?
33:11
I see you. You're welcome here.
33:13
You're part of the club, OK? Some people, some of us like to
33:17
call ourselves basement dwellers.
33:18
I think most of us do OK, But you're very important.
33:21
It's a big deal. You're here.
33:22
Thank you. Please give this a thumbs up.
33:25
If you haven't subscribed, press subscribe and then turn on the
33:28
notifications. That way you get notified every
33:30
time we go live, which is most every day.
33:34
And and it's always a big deal. We really appreciate you being
33:37
here. Thank you to the moderators as
33:39
well, Jake from Jake's Custom Parts.
33:41
Hey, I see Anne Williams. Good to see you, Anne.
33:43
Long time no see Annie Oakley moderator, the one and only
33:48
Annie Oakley and big time the Silvershire.
33:51
And of course Silver Susie as well.
33:54
And I think I'm going to see Jake this week.
33:56
You're in the basement. You never know, he might make a
33:58
guest appearance on a live stream.
34:04
Hold on one second, please. We'll be right back 'cause we
34:07
got more, more to talk about. Why do you choose to own silver?
34:21
Why, why, why do you choose to own gold?
34:26
We already covered the bricks situation.
34:28
We had a presidential election coming up in a month, tomorrow's
34:32
October 1st, Boys and girls, basement dwellers, butter cups,
34:38
All right. On top of that, we've got a
34:41
financial situation in this country that is untenable, will
34:45
not work, doesn't work, right. We need to send calculators to
34:50
Washington, DC. It just doesn't work.
34:53
We are in a Whirlpool of debt. We are in a doom spiral of debt
34:59
in this country. I'm only going to do it one more
35:02
time. This is the last time we're ever
35:03
going to do this until and I'll tell you until what, but let's
35:07
just go look because it provides us with so much fear and
35:13
entertainment to the US debt clock.
35:15
And guys, OK, still going 35 trillion, 400 billion, you know
35:21
that story. But it's crazier.
35:24
And I found a few new things I want to point out here.
35:27
The dollar to silver ratio continues to spike 684.
35:31
I won't come back here till we get to 700 again.
35:34
That measures the number of dollars being created via the M2
35:39
money supply as compared to each one ounce of silver.
35:46
Absolutely astounding that for each one ounce of silver being
35:49
mined each year, there's not at this point almost $700.00.
35:54
And if we average it, if we go over to the right, let me zoom
35:57
in here because this we haven't talked about this part for a
36:00
while. If we go over to the right and
36:06
we do a five year average of how much we get, there's over the
36:12
last five years on average there has been 1500 U.S. dollars,
36:17
Unicorn fart dust, paper not backed by anything, 1500 U.S.
36:23
dollars on average created for each one ounce of silver.
36:28
That's the five year you see over there.
36:31
And when we look at gold, we don't talk about gold.
36:33
But if we go down here, the dollar to gold ratio is at 5000,
36:38
right. And and again that's going to
36:40
measure how many dollars are being printed for each one ounce
36:45
of gold. And the five year average on
36:47
that is all the way out at 12,580.
36:51
It's just, it's crazy. I mean it's just absolutely
36:54
crazy what is going on. And we are in the middle of a,
36:59
of a, of a debt of a debt spiral.
37:02
The Chinese are panicking and the Chinese have everything to
37:08
do right now. The last year with the silver
37:11
and golden. I'm going to deliver some some
37:13
bad news to us what some people are saying.
37:18
But the Chinese have pulled out a stimulus gun, money printing,
37:22
whatever you want to call it, like they haven't since C 19.
37:27
And in C19, you know that the governments of the world did
37:30
stimulus and money printing like never ever before.
37:34
OK, it will increase the demand for silver.
37:38
OK, it could be a major driver for the silver price.
37:41
But here's the catch, right? Possibly as they're doing that
37:47
and their stock market now is like exploding higher, right?
37:50
There may be some people in particular with gold that decide
37:54
to sell their gold and move money back to the stock market.
37:58
So that's something that could be negative for the silver and
38:01
gold price. I'm just not going to blow
38:02
sunshine constantly. We could see some some negatives
38:07
there as well. Other big news we're going to
38:10
talk about New Jersey and Africa.
38:12
Africa is got is it is, it is, is the sleeper giant continent
38:19
of the world right now economically, but also for
38:23
precious metals. And we've got news out of Ghana,
38:26
news out of Zimbabwe and Tanzania, all of which are very
38:31
interesting and will have a major impact on the silver and
38:33
gold price at this point. What I also say thank you,
38:37
channel sponsor first mining gold, Canadian gold developer
38:41
with two multi million ounce projects in Canada.
38:44
You'll learn more about them at firstmininggold.com and Fortuna
38:48
Mining Gold and silver Mining Company.
38:51
They have silver and gold mines in Latin America and they have
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some rapidly expanding gold mining operations in West
38:59
Africa. Didn't I just tell you, I mean,
39:01
Africa is, is, is is just becoming behind India in my
39:08
opinion, right? They're making big moves when it
39:11
comes to precious metals. The whole continent of Africa is
39:15
doing some very interesting things.
39:16
First I want to tell you, though, we did.
39:19
Does your state one of the few? Is your state one of the few
39:24
that still charges sales tax on silver and gold?
39:29
Can you imagine going to your local coin shop right now or
39:32
buying gold or silver online and that you live in a state where
39:36
you have to pay sales tax? I mean, these people in Europe
39:38
have it even worse than us. They have to pay a value added
39:41
tax, which is like 20%. It's insane.
39:44
OK, but there are still states in the United States that are
39:48
that are charging sales tax, but New Jersey finally eliminates
39:53
it. Sound advocate monies are
39:56
hailing. It was a hard fought, I mean
39:57
they had to really fight for this is New Jersey Senate Bill
40:01
721, thereby removing sales tax on purchases of gold, silver and
40:06
other precious metals. Above $1000 and I think Florida
40:11
has some kind of situation like that as well.
40:14
But is your state one of the few?
40:17
Hold on here, I know it's in here, OK?
40:19
Says our work is done, isn't done, said Gleason, with New
40:23
Jersey reversing its policy. New Mexico charges sales tax.
40:29
Maine, Vermont, Hawaii and Kentucky are the only states
40:35
that still, I mean, does that make sense?
40:37
Kentucky's like a very, I would think Kentucky, it would be a, a
40:41
very like conservative state, a very, a state that's really into
40:46
things like sound money. I'm, I'm really surprised by
40:50
Kentucky, Maine and Vermont. I've never been there.
40:52
I don't know, I've never been to Hawaii.
40:54
Kind of a, a, not an oddball, but an off take, you know, out
40:58
there in the middle of Pacific Ocean.
40:59
We love all our friends in Hawaii.
41:01
New Mexico's the other one that surprises me.
41:04
I would think that New Mexico would not have sales tax on
41:08
silver and gold. How can you charge sales tax on
41:13
silver and gold? Sales tax that would be like
41:17
that would be like you going to your bank.
41:21
Gold and silver are in the Constitution.
41:23
They are the only forms of real money in the Constitution of the
41:28
United States. If you're anything like me in
41:31
high school, I had to take a Constitution class, didn't you?
41:34
Right. And we've learned that this is
41:36
like the the ultimate revered document.
41:39
It's like the, I don't know, the Bible of the United States.
41:43
Maybe not a good analogy, but and it says gold and silver are
41:46
the only forms of real money. How can you charge sales tax
41:50
when you're converting? Not the silver certificate, but
41:55
this stuff, right? Paper money, but it's really not
42:00
currency into this right real money.
42:08
That's from coin shop Chris right how how can you that would
42:12
be like you going to your local bank.
42:14
I want you to imagine going to your local bank with a crisp
42:16
$100 bill and saying, can I get five 20s?
42:21
And the teller says, yes, that'll cost you $108.00.
42:27
And you'd be like, what? I want to convert $100 bill into
42:32
$520 bills. Which part?
42:34
Which part of this don't you understand this bank dollar?
42:38
And she'd say, I understand all of it, but there's a 8% sales
42:42
tax when you convert my, I mean, that's, that's what that's what
42:45
they're doing. If you go to the if you go to
42:47
the local coin shop with this to convert, convert this into this
42:53
and they're charging sales tax, right?
42:56
They're they're charging sales tax on money.
42:58
Doesn't not make any sense whatsoever.
43:01
Come on, Kentucky, come on, Maine, Vermont and Hawaii.
43:05
And there was one other one I forget, but you get the point.
43:07
What's going on in Africa? Oh my gosh, every time we turn
43:13
around at the the world is bifurcating.
43:16
We talked about the bricks. They're moved towards gold,
43:20
silver, oil, real assets. Africa is like the battle
43:25
Africa. You know, I India is the
43:28
precious metals capital of the world.
43:31
Africa is the precious metals battleground of the world in my
43:37
opinion. West Africa, East Africa, South
43:40
Africa, Africa, right, gold. Listen to this three quick
43:44
stories about what's happening in Africa with gold right now.
43:50
Let's go to Ghana. OK, The Bank of Ghana.
43:55
This comes from the CNR City newsroom.
44:01
Hold on. The Bank of Ghana launches gold
44:04
coin to discourage hoarding of dollars.
44:08
They are de dollarizing all through.
44:11
They're moving to what? To gold to silver in red.
44:15
The Bank of Ghana, also known as the BOG, has unveiled the Ghana
44:20
Gold Coin, a new investment initiative aimed at reducing
44:25
dollar hoarding as part of the domestic gold program.
44:30
This initiative seeks to absorb excess liquidity in the market
44:34
and strengthen the local currency against major trading
44:39
currencies. And guys, this is happening
44:41
everywhere in Africa, and they tend to be aligning themselves
44:45
more with the Chinese, more with the Indians, more with the
44:49
Russians, and a lot of circumstances more with yes,
44:54
that's right. That's the Rick and bricks,
44:58
Russia, India, China, that's who they're aligning themselves
45:01
with. OK, they want to get away from
45:03
the dollar and they're moving to gold.
45:05
The Ghana gold coin is manufactured from dowry gold
45:09
dugout of Ghana which has been refined to 99.99% purity.
45:15
It is issued and guaranteed by the Bank of of Ghana.
45:18
Interesting here is that it will be available in three different
45:21
units. That's a one ounce coin, 1/2
45:24
ounce coin and 1/4 ounce coin to suit different investment size
45:31
nates. Each coin has the Ghana coat of
45:33
arms in the front and independence on the back.
45:35
OK, it's going to come in a special wooden and storage box
45:38
as well. The point here is that the world
45:41
is moving away from dollars. But you know, I'm just, we're
45:48
just reporting the news to gold now.
45:51
Next step, Tanzania, let's look and see what Tanzania's doing.
45:56
I mean, it's, it's incredible. Another article from Reuters
46:00
mainstream media. Tanzania orders gold dealers to
46:05
reserve 20% for purchase by the central bank.
46:11
This is from Dar El es Salaam. Tanzania's mining regulators
46:17
have have ordered all mining firms and traders exporting gold
46:21
to allocate at least 20% of the commodity for sale to the
46:26
central bank to bolster the bank's move to diversify its
46:32
foreign reserves. AKA, also known as Read between
46:37
the lines. Move away from the dollar.
46:40
The Central Bank of Tanzania. The BOT, I guess that's the Bank
46:45
of Tanzania began buying gold from local traders and miners in
46:49
the last financial year that ended in June to boost its
46:52
reserves amid amid depreciation pressure from the local
46:56
currency. The shilling OK, in the 12
47:01
months in in the 12 months to June, the central bank bought
47:05
418kg of gold. Wow, to beef up its reserves and
47:12
in the current financial year it intends to buy 6 metric tons.
47:16
All right, it's very interesting guys.
47:18
All over Africa we're seeing this move and let's go to
47:22
Zimbabwe, where maybe the news isn't so good 'cause remember
47:25
Zimbabwe was one of the first to come out with the Zig, which was
47:30
their gold backed currency. But Zimbabwe, gosh darn it, they
47:34
just had this real problem of printing money, of not sticking
47:40
to what they what they set out to do is, is my perception.
47:43
And we did get this news out of Zimbabwe again from Reuters.
47:49
Zimbabwe allows their currency to slump over 40% and they hike
47:54
their policy rate. Zimbabwe Central Bank allowed
47:57
the local gold backed currency that was called the Zig to fall
48:01
over 40% against the dollar on Friday and hiked its policy rate
48:06
giving in to the week giving in two weeks of sustained pressure
48:12
on the currency which was only launched in April.
48:17
So that's an update there. Let's see what else we have
48:21
here. We need.
48:22
I, I want to say something. I'm, I'm a little worried about
48:24
some of our base fellow basement dwellers.
48:26
Guys, of course we had this horrible hurricane that hit
48:29
Florida. Anyone in Florida who's
48:31
suffering, our heart goes out to you.
48:34
But for some reason we have a lot of basement dwellers that
48:36
live in North Carolina. One of which I've heard back
48:40
from, he was one of the originals.
48:42
He's doing OK. He lives up in the mountains.
48:44
The other guy lives in Black Mountain and I've not heard back
48:48
from him, and I'm a little concerned.
48:50
I know that the cell coverage is out, but if you see what's going
48:53
on in North Carolina right now, these Asheville area, and he's
48:58
in the Blackville at Black Mountain, Asheville area, it is
49:01
not good. So I'm going to call him Mr. MI
49:04
don't want to divulge any, you know, confidential information,
49:08
but he's a great, great guy, very successful small business
49:13
owner in that area and he's Mia right now.
49:16
I don't want to think the worst. I just hope that he's safe.
49:19
I have a feeling that his property, some of his property
49:22
may have been destroyed because it was if you look, I mean, my
49:25
gosh N partly small towns in the I think the problem is it's very
49:29
mountainous there and they build the towns kind of in the
49:33
valleys. So with all this rain hit, it
49:37
was just unbelievable flash flooding that occurred.
49:40
So our heart goes out there, our concern.
49:46
I'm hearing that the COMEX in the LBMAI saw a couple reports
49:49
over the weekend, both the COMEX and the LBMA that they're vaults
49:55
are continuing this downward trend.
49:58
Guys, it's going to be an interesting ride as we head
50:01
through the end of the year. Make sure I'm not missing
50:04
anything here. I think that's it.
50:08
Thank you. Thank you for being here.
50:10
Thank you for being part of the basement.
50:12
It is a big, huge deal. You're a big deal, right?
50:17
Absolutely. This is this.
50:19
You are just as important as me or anybody else that's here,
50:24
right? So be good to yourself today.
50:26
Thank you for being here. Please, guys, don't forget to
50:29
support our sponsors, Pi, MB, EX, Pinbex.
50:33
OK? First mining gold and Fortuna
50:36
Mining. Have a great day.
50:38
OK. And I'll see you guys soon.
50:39
Thank you. Thank you.
50:41
Thank you.