Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **ALERT** SILVER Just had a MAJOR Change... (COMEX Trading)

Transcript

**ALERT** SILVER Just had a MAJOR Change... (COMEX Trading) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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$200 silver, $300 per oz silver. We're hearing all these what
0:06
seem to feel like outlandish predictions for the price of
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silver, but in this video I'm going to show you why I can see
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$130.00 silver and I'm going to prove it to you with math and
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charts. Also, Big Fed meeting coming up
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this week. We're going to touch on that and
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why that could be critical for the price of the precious
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metals. There's some interesting things
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going on at the Comex, a little more interesting than the normal
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EFP and the, and the inventory going down, all the things
0:35
everybody's talking about. We've got another interesting
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component happening on the Comex paper trading world.
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We're going to talk about that and what is going on with Russia
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and silver. We're going to talk about what's
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happening there. But first let's talk about
0:50
what's happening here. You've decided to join me down
0:54
here in the basement. That's a big deal.
0:56
Your time is valuable. Thank you very much.
0:59
I want you to enjoy boy, your stay down here.
1:01
Please subscribe to the channel that is free and I want you to
1:05
leave a comment. You don't have to agree with me.
1:07
Trust me. That's how we can learn is from
1:09
each other. Let's go out and take a look at
1:12
what is happening right now in the gold and silver market
1:16
because guys, every day seems to be a little bit better and
1:20
better. We've got a lot happening, but
1:22
here's Kitco spot price update on gold.
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We are up $31 per oz Wow. Silver is now up $0.45 per oz
1:33
spot price. The spot price, which is always
1:37
usually lower than the futures price, is $42.66.
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The Chinese market must be dragging us up to their levels.
1:46
Going to be interesting to see how all that plays out.
1:49
But I promised you that I would show you on a chart how we can
1:53
get to $130.00 silver. Here's the chart we're going to
1:57
look at, but I want to give proper credit.
1:59
This was posted by Tavi Costa, one of the most respected names
2:04
in the precious metal sector. He's talking about a compelling
2:07
chart for silver and talks about how overtime, relationships
2:12
always come back into equilibrium, always come back
2:15
into normal. So when we look at this chart,
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this shows silver to have the S&P 500.
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It's a ratio, right? How much is silver worth in
2:26
relation to the S&P 500? Now when we look at this chart,
2:30
we can see a couple interesting things unfold back here in the
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kind of around the 1980 time frame.
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We were all the way up here, OK, Silver was quote UN quote
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overvalued versus US equities. We know that was coincided with
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the a 1980 ish high and silver around $50 per oz.
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When we go out to the 2011 time frame, we see again it gets up
2:56
here point O2. That means that's the value of
3:02
silver was basically worth 2% of the S&P 500.
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As you can see, we had some periods here right around 2001
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when the tech bubble burst, when silver to S&P 500 got very low.
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That's this number. And currently where we are low
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again, I want to point out is not .02 but .0029.
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So guys, to get back up here, OK, if we get back up to this
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.02 level, OK, that would mean for right now for the price of
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silver to be 2% of what the S&P 500, the S&P 500, it's around
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6500, we would need $130.00 per oz silver.
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So when we hear these, these figures like $100 silver, $80
3:57
silver that so many people are scoffing at, the math shows that
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several times in history we did get to a point where the price
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of silver was equal to 2%, even more of the S&P 500.
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And if we were to get there today, I'll repeat it, for
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silver to be 2% of the S&P 500, we would need a silver price of
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$130.00 per oz. This isn't even factoring in
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things like inflation. This isn't even factoring in all
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the other factors that we know now like the output of silver
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peaked in 2016 from the mining sector.
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Did you know that right we had peak silver in 2016.
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Since then, there's been a decrease in the amount of silver
4:41
being created by the mining companies.
4:44
And hey, I want to send out a plug.
4:46
I'm super excited. I want to show you guys
4:47
something that I got from first mint yesterday Where did I put
4:51
it here it is came in this really cool box check this out
4:56
get that first mint box. But what's even cooler is what's
4:59
inside of this. They're 10 oz 771776 freedom
5:05
bar. It is awesome.
5:07
You can check it out on their website.
5:08
You know what I'm going to run out there right now.
5:10
I really appreciate first met for sponsoring Ron's basement.
5:15
Let's run out there. I want to show you this.
5:18
I'm super excited up here we go. All right, first met and see if
5:24
I can figure this out live in action here when I go to their
5:28
store. Let's go to view all and these
5:34
are all the different products, 5 oz bar, 10 oz bar, number of
5:39
different products. There's the 77.
5:41
They have a 17.76 ounce version of that bar that's currently.
5:45
So you are correct. Thank you, Susie.
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Now you can see it. Sorry about that guys.
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All right, let's go back up here.
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Let's start all over again. We're going to go out to the
5:58
main site. They're having a big sale, $1.00
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over spot for all the first Mint branded silver.
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And if you go to their store and go to view all, I'm going to
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show you where this bar is and you go down, there's all their
6:13
different bars and rounds they have available.
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The Lunar Dragon, that one is sold out.
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That's the 17.76 ounce version of the bar.
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But if we go down a little further, come on, there it is
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right there. The 10 oz.
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That's the one I just showed you, Silver cast freedom bar and
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it comes with that really cool display case.
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I think it's super cool. I'm very appreciative to 1st
6:38
Meant for sponsoring Ron's basement, for allowing me to
6:42
create the content where we talk about silver, gold, the things
6:45
we love. Don't forget first Cement is
6:47
owned by First Majestic Silver. So the silver you get from first
6:51
Meant is mined by First Majestic in Mexico, shipped to the Ment
6:55
in Las Vegas, NV, and then it goes straight to you and there's
6:58
a discount code VIPRB. Don't forget about that.
7:02
Free shipping on orders over $199.
7:05
The company you can dress and they've got some real world
7:08
class unique original silver products.
7:11
OK, so that's going on there. Now let's talk about this
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$130.00 silver within the setup of what we're going to have
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tomorrow from Jerome Powell in the Federal Reserve.
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Actually, that'll be on Wednesday when we're going to
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hear the latest decision on monetary policy.
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Right now, guys, they are up a Creek.
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I want to share with you this came from a Fed member, a
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previous Fed official herself. And make sure I share the right
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screen. Sorry for that screw up earlier.
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I apologize. Worst kind of setup for the Fed.
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What Wall Street is saying about central bank's next rate
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decision, OK. And it tells us, right, we had a
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week labor data that's been coming out and then that's
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overshadowing sticky inflation print last week, keeping
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investor expectations intact that the Fed will cut rates on
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Wednesday. All right, now here the Fed
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weighs its dual mandate of full employment and price stability
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when deciding whether to change interest rates.
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This is where it gets super interesting, quote.
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It's the worst kind of setup for the Fed, said Claudia Sahm.
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She's New Century Advisors chief economist and a formal former
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Fed Federal Reserve Board economist.
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We have a federal a former Federal Reserve Board economist,
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easy for me to say, saying that the Fed is in the worst kind of
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setup. She said, quote, they will not
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be cutting rates because we have good news on inflation.
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They're only cutting rates because we have bad news on
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employment. We aren't going to go down the
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the Fed rabbit hole, guys, but we've talked about this ad
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nauseam. This is stagflation.
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When the Fed is cutting rates while we have high inflation,
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that means they're giving up on the fight against inflation.
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That means the value of the dollar will continue to go down.
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That means if you choose to use the US dollar as the unit of
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measure for the ounces of gold and the ounces of silver that
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you own, right, that value will only continue to go up. the Fed
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is up a Creek without a paddle. That's the that's the bottom
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line there. Let's talk about some crazy
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going ONS at the Comex. We've been talking a lot about
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the exchange for physical situation that's happening
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between the the futures market in the United States and the
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physical market at the LBMA. We know that there's some strain
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on the inventories at the LBMA. People spent decades studying
9:44
this. All of this is leading up to a
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potential squeeze. Although we want to have a
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squeeze, we don't want a rocket ship spike up.
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Those were, those are fun. Those are exciting.
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We probably won't complain. However, what we really want to
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see is long term sustained growth in the silver price, a a
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long term squeeze and what we're seeing some interesting
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developments at the COMEX. I'm going to share this.
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First time that I've heard anyone talking about this
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interesting phenomena. This came from Gavin.
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He says there's a war going on in silver between two big boys.
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Check out the volatility in each 5 minute candle.
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I believe this was from Friday. Someone really wants it down,
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but it gets bid back up on every up every time.
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And when you look at this, very interesting.
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He's got it circled in blue here.
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There's a war. Those are like pretty big
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candles. So like somebody that candle
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represents the zone that silver traded in during each of those
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one five minute increments, each one of those bars or candles as
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they're called. And that is very, very unusual.
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That does indicate there's a bit of a confrontation, let's say,
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going on in the silver market and that's in the futures
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market. So we're going to keep a close
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eye on that. On top of that, let's look at it
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one more time. I wanted to share this one with
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you from Peter Kurath. He's the guy who wrote the book
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that so many people are fond of on, on silver, but he puts out
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this great chart. Don't forget, right?
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Look at that. I think that's one of the most
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visual representations. The red area represents the
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silver deficit. And if we look at this chart and
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we count 12345 years now of silver deficit and remember,
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right, something so critical, very simple, very simple.
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Where's my ounce of silver? Well, I'll get this back out
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again. The 1776 bar from our friend, it
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first meant right, this silver right now what that chart just
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showed you, that's a 10 oz bar doesn't matter, right?
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We know one thing right today. We said this yesterday, but we
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can say it again today. The amount of this look at that
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beauty right that's on the face of the earth is lower today than
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it was yesterday. I mean, imagine if somebody came
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to you and said, hey, I've got a but something you can invest in.
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And I can pretty much guarantee you that tomorrow there's going
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to be less of it available on the face of the earth.
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Oh, and by the way, this thing that you can invest in has huge
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demand behind it. I mean, wouldn't you think
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that's almost a no brainer, right?
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We've been talking about it since the price of silver was
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$20 per oz. But what a powerful and
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tomorrow, right? Tomorrow we can expect the same
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dynamic to be true. Tomorrow there will be less
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physical silver on the face of the Earth available for humans
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to use the to use either for for industrial purposes or to use as
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an investment. There will be less tomorrow
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available than there was today. To me, that's that gets me kind
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of excited. It's very interesting.
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And we do know what about Russia, What's Russia doing
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those Russians, right? They're adding, they're adding
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to that dynamic that I just talked about.
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Let's go look at some interesting commentary coming
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out about Russia. This came from Gold Telegraph.
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This was from back in July. And then I have an updated one
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for you. But they said this Many may have
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forgotten, but late last year, Russia unveiled a plan to add
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silver to its state reserve fund for the first time in history.
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Talk about a potential whale in a small market.
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And then we got this update again from our friends at Gold
13:47
Telegraph. Russia is likely buying silver
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right now for its reserves. This is monumental.
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Silver is a tiny market compared to gold, yet it's now trading at
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a 14 year high. When a central bank moves into
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such a small strategic metal, it's felt in a big, big way that
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everyone is the law of small numbers that we talk about all
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the time. Whether we're talking about the
14:16
total amount of the world's reserve assets, the total amount
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of the world's financial assets that are invested in precious
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metals and general silver and gold.
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Or if we zoom into silver, it's even more exaggerated.
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If we love it, excuse me, we talk about it all the time, but
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we probably don't realize that it's actually kind of a small
14:37
market as measured in U.S. dollars.
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It's gone up significantly over the last year to our delight and
14:45
satisfaction. But the reality is it's still a
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very small market in a market that a whale or a big buyer,
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whether it's that David Bateman who has almost 13 million ounces
14:56
of silver, right, worth what, 500, five, 150 million U.S.
15:00
dollars or a country like Russia buying it for their strategic
15:05
reserves. And now we've got even the
15:07
United States talking about silver being a strategic metal.
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I think the future looks bright for all of the precious metals.
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But when we think about the the the dynamics that are specific
15:20
to silver, it's even more exciting.
15:23
And let's talk about the mining stocks.
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Before we do that, I also want to say thank you to channel
15:28
sponsor First Mining Gold that signed right above my left
15:32
shoulder. It's a stock that I've owned for
15:34
years before, long before they sponsored my channel.
15:38
They're a Canadian gold development stage company.
15:40
They've got 2 huge multi million ounce projects in Canada, Spring
15:45
Pool in Ontario and Du Parquet located in Quebec.
15:49
These these projects both have multi million ounce reserves.
15:53
It's gold in the ground in Canada being worked through the
15:56
development stage, which is catalyst rich.
15:59
And don't forget the big mining companies are going to need to
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build new mines in the future and they haven't been investing
16:07
into exploration and development first.
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Mining has a lot of gold in the ground around in Canada, which
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is a very, very safe jurisdiction and what is
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happening right now in the gold mining sector, excuse me, in the
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in the gold mining sector is nothing short of astonishing.
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There is still great value. Again, I'm not a financial
16:33
advisor, don't make any financial decisions based on
16:36
what I'm saying, but the gold mining sector and the silver
16:40
mining sector are presenting unbelievable, I believe
16:43
opportunities for capital appreciation as we go into the
16:47
next months quarters and oh cool.
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Hey, all right, guys. I'll OK, Thank you guys.
16:56
Everybody say hi to that's upstairs.
16:57
Susie, right? She loves her silver as well.
17:00
She's letting me know that we've got 100 likes.
17:03
That's massive. Thank you very much.
17:05
I will ring the golden gong in just a minute, but I want to get
17:08
through this point that's crazy about the gold and silver mining
17:11
sector. And the reason why we want to
17:14
talk about the mining sector is that it's just starting to take
17:18
off, OK? And is more and more of the
17:21
generalist or maybe some of us like to refer of them, sheeple
17:28
come into the gold mining sector that's going to help the entire
17:31
precious metals ecosystem. It's going to help the value and
17:35
price of physical silver and gold.
17:37
It's also absolutely going to be big, big news for the mining
17:42
sector. But let me read you some
17:43
statistics and then we'll cover this a little bit further, OK?
17:49
The fact that the silver price and the junior mining stocks are
17:52
just getting started right now is a very early sign.
17:56
Gold mining. The big gold miners, this is
17:59
shocking. Guys are making up to $2000 per
18:03
oz or more in profit for each ounce of gold that they pull out
18:09
of the ground. For each ounce of gold that the
18:12
big miners are mining of that of that of the $3600 that they're
18:18
selling it for, they are making $2000 in profit.
18:23
Whoa, take a step back. Think about that.
18:25
It wasn't that long ago that the price of gold was $2000, and now
18:31
they're making that per oz. OK, here, let's look at this
18:34
chart that's going to show it to you and just how dramatic of a
18:38
fashion this is occurring. Here we go.
18:45
And this came from Mr. Eppie. Gold miners are printing money,
18:51
says Mr. Eppie. Margins have never been this
18:54
fat, and yet most gold stocks are are still trading like it's
18:58
2015. OK.
19:00
When we look at this chart, what we see is the yellow line,
19:05
right? The yellow line right here,
19:07
which is the price of gold. The green line represents the
19:10
all in sustaining cost per oz, which as you can see is hovering
19:16
let's just say around 1500, maybe even right around 1500,
19:21
maybe in a little bit lower. The difference right here
19:24
between that green line and that yellow line, that big red line
19:28
I'm drawing for you that represents the profit per oz
19:32
that the gold mining companies are making right now.
19:35
The mid size companies are very early in the rally.
19:38
If this continues and if the juniors are which are just
19:43
getting started, the companies that explore and develop
19:47
companies like first mining gold that we talked about earlier,
19:50
things could get very, very crazy out there.
19:53
So stay tuned, OK, it's going to get, it's going to get very
19:57
interesting in the in the actual physical metals market, but also
20:02
in the in the mining sector guys, it could become.
20:05
Like a mania. If you're invested in the mining
20:07
stocks, just be prepared. Who knows, right?
20:10
A month from now, a year from now, you know the prices could
20:14
be down. Mining stocks are risky.
20:16
Every investment is risky. But doesn't it feel like when
20:19
you look at the big picture for both gold, silver and for the
20:24
mining stocks, like all the wins are in our sail right now?
20:28
History is on our side. Remember, when you buy gold,
20:32
when you buy silver, you're buying something that's been
20:35
around around for thousands and thousands of years.
20:38
Why is that important, right? Because gold and silver, while
20:42
we live in this world where we all believe that the US dollar
20:45
has value, that includes me. I'm 55 years old, my whole life,
20:49
right? You hand me a stack of $100
20:51
bills right now and my eyes will light up.
20:53
We've been brainwashed. But the reality is when you zoom
20:57
out and look at it through the context of history, gold and
21:00
silver have survived hundreds and hundreds of Fiat currencies
21:06
that were created that all became worthless.
21:09
OK, our founding fathers, right that like that, like the, like
21:13
the 1776 bar from first meant that I showed you when they set
21:17
up the Constitution, when they set up the country, they
21:20
specifically wanted the money our, our money to be backed by
21:24
gold. We know what happened in 1971
21:26
when President Nixon temporarily took us off the gold standard.
21:30
But guys, what we are and what we're doing is investing in
21:35
something that's timeless. I almost forgot to ring the
21:37
golden gong. We got 100 thumbs up.
21:39
Hold on, let's check in with Susie.
21:41
Susie, are you there? Over.
21:42
Yes, I see of 150. Six, I was trying to tell
21:49
everyone to try and let's get to 200 what you can say hi to some.
21:54
People. OK, I will.
21:55
Susie wants me to say hi. Let me ring the golden gong and
21:58
then I want to say hi to some of you guys that are out there.
22:00
I'm going to ring it three times.
22:05
Wow. We are in some great, great
22:07
times in the precious metals market.
22:09
I see the Rios. Let's see.
22:11
Who else do we see? I say C130.
22:13
Good to see you, brother. OK.
22:15
I see Roland Brown. I see Ed Borax.
22:19
Wow, guys, man. There's Susie, there's
22:24
Christina. Good to who is?
22:33
ODBG. Old dirty bastard Garage.
22:38
Good to see you, my friend. Right.
22:40
He's been around his his username always corrects me out.
22:44
All right, we're going to do it. I'll do my best for you guys.
22:47
We are. I'm going to tell you something
22:49
about investing in precious metals.
22:53
It is decentralized. That means this is one of the
22:56
most powerful factors people in crypto.
22:59
This is why they like crypto, but it also absolutely applies
23:02
to gold and silver. Gold and silver are
23:05
decentralized, OK? No one government, no any, no
23:09
entity can ever effectively on a long term basis control the
23:14
value of gold and silver. The value is timeless.
23:18
What that decentralization means is that no matter where you are,
23:21
when it think about where you're joining us right now from in the
23:24
world you might be. We've got people in India,
23:27
China, Europe, the United States, everywhere.
23:29
No matter where you are, spin a globe, stick your finger on it.
23:34
As long as you land on land or a ship that's in the ocean, no
23:37
matter where you are, silver and gold are valuable.
23:42
But then on top of that, think about the fact that you could
23:44
have spun that globe 100 years ago, 10 years ago, 1000 years
23:51
ago, 2000 years ago. And wherever your finger landed,
23:55
right, your great, great, great, great, great to the umpteenth
23:58
degree, grandpa, no matter where your finger landed, where his
24:01
finger or her finger landed, it would have been valuable.
24:04
That's a big thing. So what I want you to do and
24:06
what I'm going to do my best. Hold on here.
24:12
Sorry, having some voice problems this morning.
24:14
What I'm going to try to do is say hi.
24:16
But I want you in the comments to tell me where you are joining
24:21
us from today, Texas. Hello, Kip in Texas.
24:24
Great to see you, my friend. Keep coming, guys.
24:27
Come on. Put it on there.
24:28
Let's go. Let's go.
24:30
Basement dwellers. See if they hopefully they're
24:33
going to start dreaming along here, unfortunately.
24:36
OK, Hold on, Arizona. Hello, Head Fury.
24:42
Beautiful hot Arizona. Where else are we guys?
24:45
North Carolina, Michigan, First time view.
24:48
Alvarado, TX, Texas. A lot of people in Texas love go
24:53
central Washington state, Huntsville, AL, Denmark.
24:56
Hello, Jasper, Colorado. Tom, good to see you.
25:00
If I if I missed you, put it up again.
25:02
I'll do my best. Scott Myers from Missouri, the
25:05
state of misery. That's where I am.
25:07
Indiana Rickus. Oakland.
25:10
Oakland is the place. North Korea gerrymandering.
25:14
Good to see you. Barcelona, Spain.
25:16
Pensacola, FL. Paul Rafi Scott from Austin, TX
25:20
C130 from Tampa, FL Man, Brazil. That's what I'm saying guys, let
25:27
me ask you, is our gold and silver valuable in Brazil?
25:31
I think we know the answer to that question.
25:33
Houston Kip Gilbert, AZ Spango, North Carolina Charles Texas
25:38
Randall Marks the Big Island of Hawaii The Hawaii Volcano Squad
25:43
Mountain Grizzly Montana Southeast Asia TC boys right
25:49
guys Massachusetts Christina good to see you Christina guys
25:53
the the point here and thank you everybody that that put your
25:57
name in gold and silver have always been valuable and
26:01
everywhere that thatch from Tacoma Ching Chong Hong Kong.
26:05
Hello, Kenicky Chow, Jim Little from South Carolina.
26:10
Everyone gets ready for. It's about to get cold.
26:12
The storm is here. OK, Backwardization.
26:16
Oh, boy. You put me on the spot.
26:18
Amsterdam. I'm going to do my best to
26:20
explain backwardization. I'm not an expert, but I'll do
26:24
my best. OK.
26:25
Hi, everyone. OK.
26:26
So backwardization is a situation where usually in the
26:32
market you've got let's say for silver and gold, the spot price,
26:35
which is like the immediate price for the metal and you have
26:38
the futures price. Typically speaking, the spot
26:41
price will be a little bit lower than the futures price.
26:45
And that's the case even today here.
26:47
We can go out, I'll go out real luck and and we'll see what's
26:51
going on. We'll go to the spot price here
26:55
and we'll share that screen. OK, Again, this is Kitco.
27:01
We've got silver at $42.64 per oz.
27:06
If we go out to the futures price, we're going to go out to
27:12
the CNBC, Yeah. And as you can see, as we would
27:16
expect, the futures price, this is the, it says right at the
27:19
top, right then blue silver, COMEX December of 2025, that's
27:24
the futures price will be a little bit higher.
27:27
Backwardization is when the futures price becomes lower than
27:34
the spot price and what that signifies, I'm not quite sure to
27:40
be honest with you. I can, I can give you that
27:42
definition. But in terms of the and at one
27:45
point I knew and there is a reason there is kind of a
27:49
something that that can typically signify when that
27:52
occurs. The spot in the futures price
27:54
based on my experience does seem to be getting a little bit
27:57
close. But when the spot price 200
28:01
bucks, OK, I'm going to ring the cowbell.
28:06
What a day. So let me dig in.
28:09
Or you, we can you know what? Let's Google it or let's Google
28:12
it, and then we're going to ring the cowbell.
28:14
Let's figure out what backwardization means and let me
28:19
share the right screen. Here we go, guys.
28:22
All right, that doesn't matter. OK, Here we are in Google.
28:28
What does it mean? Mean the M doesn't work on this
28:36
keyboard when gold is in backwardization.
28:45
I probably spelled that wrong, but anyway, let's see if they
28:47
give us any reason. Looks like AI when gold OK here
28:51
said. That backwardization means it's
28:54
a run on Comex inventories. Interesting.
28:58
OK. So someone said it's when it's a
28:59
run on COMEX inventories. Interesting.
29:04
OK, let's see what AI says. AI says when gold is in
29:07
backwardization, the futures contract price for a future
29:12
delivery of gold is lower than the current spot price, OK, Like
29:15
I showed you earlier, so I was right about that.
29:17
This condition signals that the market anticipate, anticipates a
29:23
decline in the price of gold in the future.
29:26
With the spot price considered too high, it can indicate it can
29:31
also indicate, though, high current demand, a perceived
29:34
shortage of physical gold or a lack intra a lack of trust in
29:40
the ability to deliver that gold in the future.
29:44
So that kind of makes sense, right?
29:47
If people think, oh, they aren't, you know, the in
29:49
December, they're not going to be able to deliver that silver
29:52
or gold, They would push up the current spot price.
29:56
So that would be, I guess, kind of the speculation as to why
30:01
that might occur or why we may see that here in the near
30:04
future. But again, there's a number like
30:07
a lot of things in life, a number of different potential
30:10
reasons why that would be the case.
30:12
All right, guys, I got to run. Thank you for being here.
30:15
Oh, please subscribe to the channel.
30:17
I forgot to ask you that a book. Oh, I got to ring the cowbell.
30:20
Sorry, I got to ring the cowbell.
30:24
This came OK. All right, We got 200 thumbs up.
30:29
That's the 200 bell. All right, guys.
30:36
Yeah, like I was saying, we love you being here.
30:39
We love you joining us in the basement.
30:41
We're on an exciting ride with the metals, no doubt about it.
30:44
Please subscribe to the channel. It's free.
30:47
And but #1 have a great day, OK? I want you to come back.
30:51
All right? Be good to yourself and I'll see
30:53
you soon.