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✋ALERT - SILVER Just Had a MASSIVE Change... (China CLOSED) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
Absolute craziness lately in the gold and silver markets.
0:07
Hey, yesterday I told you that if we finished green for gold
0:11
and silver that we would be out of the woods.
0:14
Is that still the case? We're going to talk about that,
0:17
but what about what we're going to call the 2:00 AM takedown in
0:22
the gold and silver price? Really, it was more of a gradual
0:25
decrease. But the paper traders, they
0:28
slammed down the price of gold and silver overnight in the
0:32
paper market. But there's a couple of very
0:34
interesting points we need to look at as to why maybe that's
0:38
not such a robust downward move. I appreciate you being here
0:42
today. Please give this a thumbs up.
0:44
Subscribe to the channel, all the basement dwellers.
0:48
Thank you. Now let's take a look at what
0:51
happened overnight. Before we go there, before we go
0:54
there, let's remember right now, guys, $2300 gold, 2650 silver.
1:02
I was talking with bald Guy money earlier and when we
1:04
started the call, I looked at the silver price.
1:06
It was $26 and by the time we were done, it was all the way up
1:10
to 2650. So we are fighting back, but I
1:13
want to remind you of a very important fact.
1:17
It was only a few months ago, a few short months ago, that we
1:20
were down here in the basement together with $1900 gold. $2000
1:26
gold was a big, big deal. I have a Christmas tree over my
1:29
shoulder. All we wanted for Christmas was
1:32
$2100 gold. Guys, we're still at $2300 gold
1:38
right now, right? Little pullbacks are normal.
1:40
Nothing goes straight up. So let's keep things in
1:44
perspective, $26 silver. Yeah, you know, it could be
1:49
better, but it could be a lot worse.
1:50
And I have some key support levels that bald guy money was
1:55
kind enough to share with me that I'm going to share with you
1:58
later. Yes, some exclusive analysis
2:00
available for you. But let's go take a look at
2:02
these charts because I found this very interesting this
2:06
morning. Let's look at gold first.
2:08
This is on Yahoo Finance and this is a 5 day chart of the
2:13
gold price. You can see that right there.
2:16
OK, here we were about 10 o'clock 11:00 last night we had
2:21
gold at what, 2333? And then boom, overnight in the
2:28
middle of the night we saw the price of gold go down, down,
2:31
down. Then we got this, this big
2:33
downdraft here. I think probably one of the Fed
2:35
people or somebody said something, but none the less
2:38
they did this in the cover of darkness in the middle of the
2:42
night. I want you to look down here at
2:44
the bottom, those little Gray bars.
2:46
Those represent the volume. This did not occur on massive
2:52
volume. Look back over here.
2:55
If we go to this range right here, see how big the Gray bars
2:58
are, where they're going down South #1.
3:01
That's a very, very good sign. This takedown occurred on low
3:05
volume, but there's another key fact that we need to remember.
3:09
Let's go take a look at silver quickly as well.
3:12
OK, here we are. Let's see.
3:16
Oh, about two in the morning, right?
3:19
I'm sorry. 2:30 PM. Let's go here.
3:22
Here we go. Here we are in the middle of the
3:24
night. Boom.
3:25
Silver gets smashed down. From where?
3:27
About 26, 83, this is in the futures market all the way down
3:33
to this low point right here. 2629 again that happened in the
3:40
middle of the night and it happened on relatively low
3:43
volume. So the fact that it was low
3:46
volume and it happened overnight in the paper market is very key
3:50
for us to remember. But on top of that, I want to
3:54
bring up the point right, that we've been getting a lot of
3:57
support in the precious metals markets.
3:59
From who? Oh, our friends in China who are
4:03
buying silver and gold like absolute crazy.
4:06
Don't forget, guys, the Chinese, the Shanghai Gold Exchange and
4:10
the Shanghai Futures Exchange are closed right now.
4:14
They're closed from May 1st through Monday, May 6th for
4:18
their Labor Day holiday. I don't know.
4:21
I don't know Chinese holidays, but nonetheless the Chinese
4:24
market is closed. That same Chinese market, the
4:27
Shanghai Gold Exchange, where silver is often $3 per oz, 1012%
4:33
higher gold, same thing. We know that the metals markets
4:38
are being controlled more and more by the Chinese and with
4:41
their absence overnight, boy, the guys with the COMEX and the
4:45
LBMAI can just see them probably like, hey, it's like the good
4:48
old days guys. We can smash the price down in
4:51
the middle of the night. Let's talk about what bald guy
4:54
Money had to say. I've got some notes here.
4:56
Key key numbers that we need to consider when we're looking at
5:00
the silver price. And he shared this with his
5:04
premium members but gave me the a OK to share it with you today.
5:08
So listen up, get out a piece of pen, a piece of paper and a pen
5:13
$26.40, he says. His key support for silver.
5:18
We did see the big dump in the spot market right overnight down
5:21
to $26 per oz. But we did bounce back.
5:26
All right, let's go take a look quickly as we're talking about
5:29
this out at our friends Pimbex to see where we are on the
5:36
silver. We're at 2670 on silver.
5:39
I'm sorry, I'm smiling. I hope you're smiling as well.
5:43
Gold still struggling a bit, but two $2299.33, we're going to see
5:50
if we can get that back to 2300. Bald guy says 2640 is key
5:55
support for silver. It's also very important that we
5:59
close the week above this level. His number for gold 2280 as we
6:05
just saw were above that as well.
6:08
So is it, are we are, is it, is it a new day, is it a new
6:12
paradigm? I still believe so.
6:14
Sure. We were discouraged this morning
6:17
with the with the price action in the silver and gold market.
6:21
But guys I believe that what happened yesterday with the Fed
6:25
in that initial reaction indicates to us the Fed is on
6:30
the map. the Fed is down for the count silver and gold.
6:34
Know that. I want to mention to you as well
6:36
we're going to talk about the UCLA situation later in this
6:40
video. OK, the key here and this is my
6:44
note, but I think bald guy says it's kind of saying the same
6:47
thing as we need to build a base here.
6:49
My number, right, I'm thinking 262640 is what bald guy's
6:54
saying. If we can build another strong
6:57
base at for gold at $2300 per oz, I believe that we are in a
7:04
new paradigm, a new weather pattern, a new whatever you want
7:07
to call it, environment for. Can we have a 10 year bull
7:13
market in the gold price and the silver price?
7:15
Are we in the beginning phases right now of a 10 year,
7:20
eight-year, 12 year, five year, heck we'd even take a four year
7:24
bull market. They do happen.
7:26
They and I'm going to show you something in a little bit when
7:29
it comes to the DXY, the dollar index that is so interesting in
7:34
regards to the last time that we started a 10 year bull market in
7:40
the precious metals as well. OK, let's go.
7:44
What? Let's go do that right now.
7:48
Let's take a look at we're first we're going to look at the 10
7:52
year bond yield and I'm going to refresh this to get it up to
7:56
speed. Earlier this morning when I was
8:00
putting the notes together for the show we were way over here.
8:04
We were down and I found it very interesting.
8:07
This things are are getting crazy right now because the 10
8:11
year bond yield was down and gold was getting clobbered as
8:14
well. Typically when the 10 year bond
8:17
yield is down the price of gold should be up.
8:20
As you can see it recovered some here but guys this is this I I
8:24
have to show you this Let's go and look at the 10 year bond
8:29
yield over all time. Here we are right now the 4.66
8:33
roughly where we are. I want to point out to you, we
8:37
have not had interest rates this high, look all the way back
8:41
consistently above where we are pretty much back to the year
8:46
2000, right. We are at basically 25 year
8:51
highs in interest rates. Interest rates will not go much
8:55
higher than where they are now. We know what what will happen to
8:58
the banking sector. We know what'll happen to the
9:01
consumer with more with higher interest rates.
9:04
The consumer does not have the bandwidth, the financial
9:08
bandwidth to absorb higher interest rates.
9:11
Corporations, look, all these corporations, they borrowed all
9:15
the money back here, right? They borrowed tons and tons of
9:18
money and often times they were using it to buy back their
9:21
stock, right? They were.
9:23
They weren't necessarily using it for productive all that debt.
9:27
They're still carrying that debt and that now needs to be
9:30
refinanced at higher and higher rates.
9:33
It's going to cut into profit margins.
9:35
It'll cut into the the valuations on the stock market
9:40
is is profit margins get squeezed.
9:43
The valuations of the stocks will go down and some of that
9:46
money will flow into the silver and gold markets.
9:49
I'm hitting you guys with a lot today, but the bottom line is
9:53
these interest rates are government can't afford higher
9:57
interest rates. But we have $10 trillion of debt
10:01
that needs to be rolled over this year.
10:03
Nine or ten $10 trillion corporations can't afford
10:07
interest rates where they are right now, notwithstanding them
10:11
going even higher. And of course, the American
10:14
consumer who's the backbone of the US economy, they can't
10:17
absorb it either. Now let's go look at the dollar
10:19
index. Here we go.
10:22
There's the DXY. Thanks to our friends at
10:24
MarketWatch, this shows us today we have the dollar index up a
10:30
little bit. OK.
10:31
But let's look at this, which I found super interesting.
10:37
OK, here we are right now, right above 100.
10:42
If we go back and look at the last time that we were really in
10:46
a sustainable period of time when we were above that level,
10:50
what we see is hold on here. What we see is that was around
10:58
the year 2000 range, right. Guess what happened starting in
11:03
about 2002 when the dollar was last right around we are now or
11:08
where we are now, that's when the 10 year bull market occurred
11:13
for precious metals, OK. Again, the dollar can't really
11:17
go much higher on a historic basis.
11:20
It's only been what in the last 50 years?
11:23
Higher than where we are now for a very, very short period of
11:27
time. We are no longer basement
11:29
dwellers, silver and gold investors.
11:32
We aren't fighting the Fed anymore, OK?
11:35
I'm telling you, it's like a boxing match.
11:37
Gold on one hand, silver on the other.
11:41
We have that has knocked out the Fed.
11:43
The Fed is on the mat right down for the count.
11:48
That's the situation that we're in right now.
11:51
And they've, they've destroyed themselves.
11:53
Let me read some of my notes. So I stay on track here.
11:56
And yesterday, in my opinion, was a loosening of monetary
12:01
policy. And we're going to, we're going
12:02
to tear the Fed apart. We're going to talk about lies
12:05
from the Fed, OK. They reduced quantitative
12:09
tightening. I'm going to explain that to you
12:11
in a second. And #2 key point.
12:15
Jerome Powell. Yes, our old friend Jerome, just
12:18
so you can see a visual. Think I should open it?
12:21
Yeah, there he is. He is kind of a cute little guy.
12:25
But what he told us yesterday is he said they are not going to
12:30
raise rates. People were talking about the
12:32
Fed raising rates. He's like, oh, no, no, no, no,
12:34
no. Don't worry.
12:34
We're not going to raise rates like we talked about earlier,
12:37
right? Government, corporate, consumers
12:40
could not even the things would implode if they raised rates.
12:43
He's like, don't worry guys, I'm not gonna raise rates.
12:46
Don't worry about that, right? And as a matter of fact, we're
12:50
gonna, we're gonna cut back the pace at which we're conducting
12:53
quantitative tightening, right? When they do quantitative
12:56
tightening, they are sucking some some money out of the
13:00
economy. You probably remember looking at
13:02
the M2 money supply had been decreasing.
13:05
The only other time that had happened were during periods of
13:08
depression. But that's a whole different
13:09
story. That's what he's telling us.
13:12
He's basically telling us it was a dovish statement from the Fed.
13:17
They're scared. He is in a box, right?
13:19
Oh, I'm not going to raise rates.
13:20
I'm not going to raise rates. Oh, but we can't lower rates
13:23
either because that'll that'll ignite inflation.
13:28
Gold and silver are sniffing it out.
13:30
OK. And I said, and I'm going to
13:32
repeat this, that if gold and silver went up yesterday, I went
13:35
out on a limb. I said that I thought we were
13:38
absolutely in a new environment, that it would cement the fact
13:43
that we very well could be at the beginning.
13:45
I'll go out on another limb. I need to get more trees down
13:48
here in the basement. I think we are in the very
13:51
beginning innings right now. Officially, I could be wrong.
13:55
Don't make any financial decisions based on anything I
13:58
say, but I think we're in the beginning innings of a long term
14:01
bull market for gold, for silver and for the precious metals
14:06
mining stocks. And when we're on that subject,
14:08
let me say thank you. Quickly to channel sponsor First
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14:27
Thank you Metal Seer for that Super Chat and our friends at
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14:50
Thank you Metal Sear for the Super Chat.
14:54
Hold on one second here, guys. Just in case you want to review
14:57
what I just said, there it is, a little banner across the bottom
15:01
of the channel. Now where was I?
15:04
OK. Oh, so this is where it gets
15:06
entered. Let's tear your own pile apart.
15:08
Liar. Liar.
15:10
I'm sorry. Liar.
15:12
Or or or not aware of reality. I don't.
15:19
I don't really know how else to say it.
15:21
Thank you, metal sear, and bear with me.
15:24
Here we go. I got it.
15:27
OK, we are gonna go check out and we're gonna plug some poke
15:32
some holes. And where did it go?
15:39
Oh, my Lord, 200. OK, hold on, guys.
15:50
We're gonna we're gonna pull up the Jerome Powell statement
15:56
yesterday as soon as I can get this figured out.
15:59
Because what we know about what Jerome's telling us is that much
16:03
of it, most of it is not true. Papa, here we go.
16:10
Sorry about that. And couple very interesting
16:18
points. OK.
16:24
Oh, I had it up already. FED meeting recap.
16:27
Powell pretty much rules out a rate hike at Central Bank's next
16:31
move. That's not the interesting part.
16:34
The interesting part here is, number one, he says politics not
16:39
a factor in rate decisions. Powell infant had to emphasize
16:42
that right. He says it's hard enough to get
16:45
the economics right. Economics right here, These are
16:48
difficult things. And if we're blah, blah, blah,
16:51
he's basically trying to tell us that they're not politically
16:54
motivated or politically impacted.
16:58
We know that's not the case, OK? He says he wants the shrinking
17:03
of the balance sheet to be smooth.
17:06
OK, that means quantitative tightening, right?
17:09
That's dovish, he said. It really is to ensure that the
17:13
process of shrinking the balance sheet down to where we want to
17:16
get it is is a smooth one and doesn't wind up with financial
17:20
market turmoil the way we did the last time we did this, that
17:24
was the, what, December 2019 market crash.
17:29
The only other time we've ever done this before, Well, maybe
17:34
they're doing, they're they're doing quantitative reducing, the
17:38
quantitative tightening which is essentially dovish and loosening
17:43
of monetary policy because the economy's falling apart.
17:47
And on that note, this is where this is the one that really got
17:51
me. We know stagflation is the most
17:54
fertile environment for the silver and gold price.
17:58
And he downplays the stagflation concerns And then we're going to
18:01
tear that apart because we've got example after example of
18:06
utter doom going on right now. Last week's GDP report that
18:10
showed slowing overall growth but solid price increase raised
18:13
some concerned about the US entering a period of
18:16
stagflation. But Fed chair Jerome Powell
18:19
downplayed it. I don't really understand where
18:22
that's coming from, said Powell. The central bank chief pointed
18:25
out that by some measures, economic growth is at 3%.
18:29
Yes, right, make believe Unicorn fart does the measures right and
18:34
inflation is below 3%. Then he had the audacity to tell
18:38
us that. I don't see the stag or the
18:42
flation is what he said. I want to point out something
18:45
about Powell. OK, this is the same guy.
18:49
Let's remember, OK, he's he's wrong on that, in my opinion.
18:53
Number One, we are very likely in a period of stagflation or
18:56
rapidly moving into one. But this is the guy who told us
19:02
three years ago that they weren't going to start raising
19:05
interest rates until the end of 2023.
19:07
This is the same guy who told us three years ago that inflation
19:15
wasn't really a problem, right? Remember inflation's transitory,
19:20
inflation's temporary. So are we going to believe him
19:23
now? Think about this when he tells
19:25
us that we're not in a period of stagflation.
19:28
And remember, guys, the last time that we were in a period of
19:31
stagflation, the 1970s. Just as one little example that
19:35
you may want to bear in mind, the price of silver went from
19:39
$1.50 to $50 per oz. You have a that that's like
19:45
what, 35 * 3500% increase. Oh, and by the way, there's this
19:53
guy named Jamie Dimon who we're not very fond of, but when he
19:56
says things that we agree with, we'll we'll like to point that
19:59
out. Jamie Dimon from JP Morgan
20:01
Chase, right. He's recently come out saying
20:04
that he is most worried about stagflation right now.
20:09
OK, so Jerome says is never ever.
20:13
Going to come out and tell us that we're going into a
20:16
recession, let's let's look at, let's just look at some very,
20:19
very fascinating facts that we're getting right now that
20:23
might indicate to us otherwise. Here we go.
20:29
This one's from Zero Hedge, Rest in peace.
20:32
Housing construction job openings implode from 456,000 to
20:38
274,000. A 182,000 monthly drop is the
20:43
biggest on record. These are construction jobs, new
20:48
home construction. I heard it last night from a
20:51
real estate guru, he said. New home construction is the
20:55
first thing that craters when we have a major real estate
21:01
incident in this country. Because the guys that build new
21:05
homes, think about it, they have to sell them.
21:08
So they're the first ones that panic when homes aren't selling.
21:12
Guys, we had the biggest drop in construction job openings on
21:17
record. Look at this.
21:19
See if I can pull that up. Look at that.
21:22
OK. Look at that is a major, major
21:25
drop. What about Tesla?
21:27
I've been telling you, I've been not proof.
21:29
I've been telling you this mall by my house that it's bizarre.
21:33
There's just hundreds and hundreds of Teslas.
21:35
Well, here you have it. This comes from Fox 2.
21:38
Hundreds of Tesla vehicles parked outside Chesterfield
21:41
Mall. But why?
21:43
And that's the mall by my house. Hundreds of Tesla vehicles are
21:47
parked outside Chesterfield Mall.
21:49
It's the shopping center sets to close its doors in August right
21:53
now. How did they get there?
21:58
Let's go down here. I'm going to skip through all
22:01
that. OK?
22:05
One of our users happens to be Tesla.
22:07
So this is a giant mall by my house in an upper middle class
22:11
part of Saint Louis that has shuttered, right?
22:14
Had a Sears, Macy's. That was a massive big mall.
22:18
Very nice place, shuttered number of years ago.
22:21
Now they're going to tear it down.
22:22
Now it's being used as a place for Tesla to hide their extra
22:27
cars, but they're not able to sell at their massive Tesla
22:31
dealership like a mile away down the road, OK, he says.
22:35
One of our users happens to be Tesla, who does have a
22:38
dealership in Chesterfield Valley, but does not have enough
22:41
capacity at the dealership to park all the cars they are
22:45
bringing in. Now, another way to read that is
22:48
to say that Tesla's not selling many cars and they have so many
22:53
being shipped that they can't even put them on their lot.
22:56
So now they're sticking them, and this is the ironic part.
22:59
They're sticking them in the parking lot at Chesterfield
23:02
Mall. Oh, and by the way, they're
23:04
putting them in the old Sears parking lot, which is like the
23:08
poster child for for for retail collapse in this country.
23:14
He estimates there's 3 to 400 cars in the parking lot.
23:17
There. They are, right?
23:19
Look at that. I mean, they're just, they go on
23:21
and on and on and on. But what else?
23:24
What else do we have to look at? Oh, I love this.
23:27
The Kobe Kobesi Kobesi letter This is how great our economy is
23:31
doing, How great the market's going.
23:33
Starbucks yesterday fell 20% after reporting a 6% drop in
23:38
traffic. I guess maybe people are waking
23:40
up that they don't need to spend $12.00 on coffee.
23:43
DoorDash fell 15%. Netflix fell 10%, CVS fell 17%.
23:51
Etsy fell 11%. EBay fell 5% after reporting
23:56
weaker guidance as everywhere we look, we're seeing more and more
24:02
indication, all right, that this economy is slowing.
24:06
I went out on another limb just the other day.
24:08
I believe that we do. You do you feel it right that we
24:12
are in this period right now that we're in the next six
24:15
months, right. I live here right in the middle
24:18
of the country, right, Right in St.
24:20
Louis, MO. That we're gonna be moving into
24:23
a period of significant economic contraction, turmoil.
24:29
Are you ready? Are you prepared?
24:31
Right. OK, so what's interesting in
24:34
this regard, and this has a lot to do with our friends at
24:37
Goldman Sachs. And we love the guys at Goldman
24:40
Sachs, right? Yes, we know they watch Ron's
24:43
basement. They're watching right now,
24:45
right on the trading desk, whatever they want to call it.
24:48
So hello to our friends at Goldman Sachs.
24:50
And we are very, very happy to hear that you're calling for a
24:56
rate cut. Goldman Sachs is going out on a
24:59
limb. They're calling for a rate cut.
25:02
Let's check this out. What will that do to the silver
25:08
price and gold price if Goldman is correct?
25:10
This comes from Carl Quintanilla.
25:13
He says, Goldman says, quote, Powell offered a dovish and I
25:17
agree, a dovish message yesterday in his press
25:20
conference. We have, we we have left our
25:22
forecast unchanged and continued to expect two rate cuts this
25:27
year in July and November. So if we get these rate cuts, if
25:32
we get two right at this point the market people were talking
25:36
about rate increases guys, it is going to be off to the races for
25:41
silver and gold. We really have entered a new
25:44
paradigm. the Fed, right, they didn't cut rates yesterday,
25:48
right, They didn't announce quantitative easing.
25:50
I may have jumped the gun on that, but what they did do is
25:54
reduce quantitative tightening and I would almost argue that's
25:58
a form of six or one half dozen, the other quantitative easing,
26:05
right. When they reduce quantitative
26:07
tightening, tightening, that is, is, is more accommodative from a
26:11
monetary it's a dovish monetary move by the Fed.
26:15
It's kind of like if you're taking a Biffy bath, right?
26:18
A a beefy bath with your with your rubber ducks, right?
26:22
And you you're running the bath water.
26:24
You've got the the cold water spicket on full blast and the
26:27
hot water spicket on full blast. OK, if you want the water to get
26:33
hotter, at some point, all you can do is turn the cold water
26:37
down. And that's what the Fed did
26:39
yesterday, right? The cold water is the
26:42
quantitative tightening. They turned it down and the hot
26:45
water is more accommodative monetary policy.
26:49
That is the environment that we're moving into right now.
26:52
And it will be gold and silver. No, gold and silver are by far
27:02
two of the oldest markets in the world.
27:05
OK. They know.
27:07
Thank you, Ron, for the Super chat.
27:09
Let's put that up there. There we go, right.
27:12
They're two of the oldest markets in the world.
27:14
They know what's going on. They know the situation, right?
27:18
What comes with age? How old are you?
27:21
Put it in the chat, right? I'm 54 1/2 at this point.
27:25
As you get older, you get wiser. Everybody does think about the
27:29
silver and gold. Silver's been used as money for
27:31
4000 years, 4000 years. Silver is way smarter, right
27:38
then the New York Stock Exchange or the bond market or Jerome
27:43
Powell, Gomer, Pyle, whatever we want to call him in the Federal
27:47
Reserve. Silver and gold sniff out BS and
27:51
and what are they telling us? And I don't care You.
27:54
You can. You don't have to like me.
27:56
I'm a firm believer. I feel even more after what
28:00
happened yesterday after seeing, you know, Jerome, Oh, well,
28:03
we're not going to, we're not going to raise rates, but we're,
28:06
we're going to, we're going to reduce, right.
28:09
They're on the mat. They're done.
28:11
They're down for the count, right.
28:13
Old gold and silver are knocking them out, the only forms of real
28:17
money, right. But the gold and silver know
28:20
they're sniffing out this situation and it's going to be,
28:23
it's going to be an interesting remainder of the year.
28:26
And I'm going to talk about the UCLA situation here in a moment.
28:30
All right. And where will all this gold,
28:33
This, this is, this is interesting.
28:35
It. Where will all the gold and
28:37
silver come from? Here it is.
28:40
Hold on. I thought you want to look at
28:45
this right. Global gold production.
28:49
Look up at China in the upper left hand corner, right, 370
28:54
tons, right. I want you to look down at
28:57
Canada in the United States, right in here.
29:01
Combined, I found it very interesting. 370 tons, right?
29:07
This shows us where the gold's being produced.
29:12
And on top of that, where the gold is being accumulated.
29:17
We're hearing it from everyone, right?
29:19
Look at Russia. Oh, we forgot about Russia. 310
29:23
metric tons. So combined 680 tons are
29:28
produced in 2023 between Russia and China.
29:32
I guess we could throw in Brazil as well.
29:34
What is that? That's.
29:35
I'm sorry, that's 680. That's 740, right?
29:39
Compared to 370, that's twice as much in these three BRICS
29:45
countries alone, Twice as much gold produced, right, As
29:50
compared to Canada and the United States, which are
29:52
probably the biggest gold producers within the G7 nations.
29:58
So that that's something to bear in mind is not only are they
30:02
buying, China's not only buying and accumulating much of the
30:07
world's gold on the open market, 'cause they'll gladly buy it at
30:10
this current price, but at the same time, at the same time
30:15
we've got, we've got a situation where they're producing most of
30:19
the world's gold. Big story tomorrow.
30:21
Be prepared. Tomorrow could be super
30:24
interesting for silver and gold. We're going to get to that next.
30:26
Tomorrow's a big day, right? Once again, we're faced with the
30:31
biggest day in the history of the universe for precious
30:35
metals. But I want to say thank you to
30:38
channel sponsor pin backs. Let's go out and do a let's do
30:42
an update here on the gold price and the silver price.
30:46
Hey, we did it. Unbelievable.
30:48
All right, we've got gold back above $2300.
30:52
Thank you. Pin back.
30:53
Silver is positive. Wowzers, I can't believe I said
30:58
that. That is incredible.
31:00
Guys. Silver was knocked down to like
31:03
26 silver. What?
31:04
Hi ho silver away. Anyway, if you want to get your
31:08
hands on some silver or gold, thank you Jake.
31:11
I will ring that cowbell here in just one second Before the
31:16
Chinese and the Russians get it all, take it all from us.
31:19
Do yourself a favor. Check out Pinbex.
31:22
Here's their website, Pi MB EX. They're an online bullion dealer
31:28
and as you can see right Gold, silver, platinum, group metals.
31:34
What I like most about Pembex is I can always count on the fact
31:38
that their prices are going to be the best ultra competitive
31:43
pricing, but I want to work with a company that I can trust as
31:46
well. My experience with Pembex before
31:49
they sponsored the channel was awesome, right?
31:51
And actually learned about the company from several of you.
31:58
But you need to discover that for yourself, right?
32:01
You want to work with a company that you're comfortable with.
32:03
You want to get good product, right?
32:06
And what I find at Pinbex is I can get the same exact thing,
32:09
whether it's Royal Canadian Mint Silver Bar, whether it's
32:12
American Silver Eagles. I was really into Krugerrands
32:16
for a while, the exact same product for a better price, so I
32:20
always get more metal for my money at Pinbex.
32:24
Again, you can go check them out here, Pi, MB E, xpinbex.com.
32:28
They can also help you out. If you ever decide to convert
32:31
part or all of an IRA account into precious metals, you'll
32:36
want to talk to them as well. And I think what you'll find,
32:39
whether you're buying, you know, on the retail side to have
32:42
delivered to your house or you're dealing with an IRA, is
32:45
that with pin backs, you always get more metal for your money.
32:50
All right, guys, this is where it starts to get crazy.
32:54
Tomorrow. Tomorrow could be very
32:56
interesting for the silver price and gold price.
32:58
Yes, the biggest, the biggest Newsday in the history of the
33:01
universe. Every day is the biggest day,
33:05
right? Hey, right now is the biggest
33:07
day. But seriously, tomorrow's a big
33:09
day for silver and gold because we're going to get the jobs
33:11
numbers and who knows what that what's got what they're going to
33:15
the Bureau of Labor and Statistics is going to pull out
33:19
of their magic hat, right? Do they want it to look good so
33:23
they can say Bitonomics is working right?
33:26
If it's a really good number, if it's all the the economy
33:29
created, you know, 600,000 jobs and only 100,000 were were
33:34
expected. And Kamala and Joe can say it's
33:38
Bitonomics, it's working right? Vote for Joe, right.
33:41
Or, you know, and I'm not political, I'm just stating the
33:44
facts. There's a little itsy, beatsy
33:47
bit of suspicion surrounding the surrounding the jobs numbers.
33:56
And as we've talked about right, we've always got this situation
33:59
where they announce it. Unbelievable job it used to be,
34:02
but remember, this is key for us basement dwellers.
34:05
It used to be 6 months, nine months, 12 months ago that the
34:08
jobs number, when it was unbelievably good, would smash
34:12
down the price of gold and silver.
34:14
Let's not forget we're in a new paradigm.
34:17
I hate that word, but it's the only one I can keep using.
34:20
We're in a new weather pattern for silver and gold.
34:23
We're in a new era. We're in a bull market for
34:26
silver and gold. We're in the very, very early
34:30
stages. If it were a baseball game, we'd
34:33
be in the beginning of the second inning.
34:36
OK, maybe this the top of the second inning.
34:39
Nonetheless, it's going to be interesting to see how the
34:42
metals markets react to to the, to the mark, to the.
34:47
And I'm getting a bunch of texts from the moderators here.
34:50
Let me see what I'm Something screwed up.
34:52
Hold on. See what we have going on here.
34:57
Super chat. Yes.
34:59
Thank you. Oh, my gosh.
35:01
I missed $100. Super chat.
35:02
Thank you. Oh, my gosh.
35:05
Wow. And I got to ring the cowbell.
35:07
We're going to do all that. Hold on here, guys.
35:09
Bear with me. Somebody donated $100.
35:13
How did I miss that? Hold on.
35:15
Oh my gosh. Mr. Shovel.
35:18
Wow. And thank you.
35:19
Metal sear as well. Mr. Shovel DKK Wow 100.
35:24
I think that maybe that's $100. Actually, I think that's 100.
35:28
Some foreign currency Danish kroner crowns.
35:31
But nonetheless, all super chats are super appreciated.
35:36
Tomorrow. Be prepared.
35:38
Buckle up. Butter cups, right.
35:40
Who knows what they're going to try to pull on us, All right,
35:43
with this jobs number, we could have a big day up.
35:47
We could have a big day down. Remember what the bald guy money
35:50
said? OK, the key numbers that we're
35:52
looking for tomorrow to close for silver above $26.40 gold,
36:00
$2280. And do yourself a favor
36:03
sometime, go check out Bald Guy Money channel.
36:06
He's a great guy, a great friend and has unbelievable high
36:11
quality content when it comes to the precious metals market.
36:15
But we're not done yet. We're not done yet.
36:18
We got a lot more to talk about. Let's talk about banks.
36:22
Oh, we haven't talked about banks failing, right?
36:25
Remember, remember, most of the banks are insolvent.
36:29
But I heard somebody the other day say the banks aren't
36:31
insolvent. I'm thinking, well, what if
36:32
everybody showed up and wanted their money from the banks?
36:36
Could the banks provide everybody with all their money?
36:38
They bank, pardon the pun, on that Not happening.
36:42
But let's take a look here at an interesting article from our
36:51
friends at CNBC. Why hundreds of U.S. banks may
36:59
be at risk of failure. Oh, interesting.
37:03
What's this place that looks like a a House of?
37:08
I'm not going to say it. I'm going to be good, OK?
37:11
Hundreds of small and regional banks across the US are feeling
37:13
stressed. Quote, You could see some banks
37:16
either fail or at least, you know, dip below their minimum
37:21
capital requirements. AT Christopher Wolf, managing
37:23
director of North American banks at Fitch Ratings.
37:27
He told that to our friends at CNBC Consulting Group.
37:32
Claros Group Consulting firm Claros Group analyzed about 4000
37:39
U.S. banks and found that 282 banks face the dual threat of
37:46
commercial real estate loans and potential losses to higher
37:50
interest rates. Remember earlier guys, The
37:53
higher the interest rates go, the lower the gold and silver
37:57
price go. But there's a little interesting
37:58
little secret. The interest rates can't go any
38:01
higher because where they are right now.
38:03
This guy at the Claros Group is telling us that 282 banks,
38:08
that's pretty significant, 282 banks are at risk of failure and
38:15
that's what the current interest rate.
38:17
Remember one year ago right now, well a little over a year, a
38:22
year and one month. And one week ago we had like 3
38:25
massive banks fail in the United States.
38:27
It was like cumulatively more value in banks that went down
38:33
than what we saw during the worst year of the financial
38:37
crisis. But the key, the key there was
38:41
that when those three massive banks failed, interest rates
38:44
were actually lower than where they are now.
38:47
Quote, most of these banks aren't insolvent or even close
38:50
to insolvent. No, of course not.
38:52
They're just stressed. Well, I'm stressed too.
38:54
Are you stressed, basement dwellers?
38:56
We all get stressed. Doctors making me walk 15
38:59
minutes a day, What else do I have to do?
39:02
Meditate for 5 minutes? That's a lot of time, you know?
39:04
But anyway, the banks are stressed just like you and I are
39:07
stressed, Co founder and partner at Claros Group told CNBC.
39:11
That means there will be fewer bank failures, but it doesn't
39:16
mean the communities and customers don't get hurt by that
39:19
stress. Blah blah, blah.
39:20
I don't believe it. I think the banking sector, when
39:23
I listen to the, what I consider to be the smart people in the
39:27
room, the banking sector is under massive, massive stress.
39:31
Let's talk about what's going on at UCLA.
39:33
Have you seen that big story this morning?
39:36
Like horrible protesting and the police moving in?
39:43
And of course, if you turn on mainstream media for two
39:46
minutes, it's all you're going to see, right, 'cause they want
39:48
to sell fear. They want to, you know, Oh my
39:51
gosh, protest. This is what I think.
39:54
This is what, what scares me a little bit as we move into the
39:57
rest of the year, I think. And and Susie and I were talking
40:00
about this this morning. It's like a little piece of
40:03
starter wood that you throw in into a big pile of sticks when
40:08
you're starting a bonfire. I have a feeling that we're
40:11
going to look back six months, eight months from now.
40:14
I'm not calling for social unrest.
40:16
I'm not in favor of it. But, you know, I have a feeling
40:20
there's something weird going on in the way the media is
40:23
following this that we could absolutely see that the what
40:28
we're seeing on the college campuses right now could be,
40:32
could we could consider that minimal compared to what we
40:35
could see later in the year, right.
40:37
People in America are stressed out, right?
40:41
Average Americans, right. They've been stolen from with
40:44
inflation. They don't understand.
40:46
Right? You understand right your your
40:48
basement dweller, you know what's what's really going on.
40:52
But average Americans, they don't.
40:54
They know their stress. They know that life has become
40:57
very difficult for them, right. They don't quite understand why.
41:01
And I just have a feeling that with what could prove to be a
41:05
very contentious election and I don't want it to happen.
41:08
And I'm not saying it is going to happen, but what I see and Oh
41:13
my gosh, on top of that with what is what I do believe and I
41:17
will predict that we're going to have even harder economic times
41:21
here in the next six months that we could see protest.
41:26
And and I don't want to use the R word, but I can't think of
41:29
another one riot type behavior going on.
41:32
We saw it in the past, right? I live here in Saint Louis.
41:35
Remember Ferg? It all started with Ferguson and
41:39
and then grew from there that we could be in for some very, very
41:43
scary times as we head through the end of the year.
41:45
And why do you hold silver and gold, right?
41:48
Why do you hold silver and gold right, for the store of value to
41:51
protect against geopolitical risk.
41:54
Think about this. It's crazy guys.
41:56
The world. And I mean Oh my, I'm, I was
42:00
there's more articles, right? The situation in Europe is
42:03
getting worse. The Ukrainians are are are
42:06
bombing Russian oil refineries deeper into Russia.
42:10
Russia just last night bombed like the Ukrainian military
42:15
headquarters in the for the southern.
42:17
I mean things are escalating. We know what's going on in the
42:20
Middle East. We know what's going on with all
42:23
that's going on and in the United States we have like full
42:26
blown, I want to say riots but full blown social turmoil going
42:34
on on college campuses. I mean the set up let's let's,
42:39
let's let's zoom out again. Why do you hold silver and gold
42:43
right? To protect yourself during times
42:45
like this right. It's getting absolutely crazy
42:50
right. But remember, silver and gold,
42:53
right? Have have have provided that
42:55
safe harbor not just for decades, not just for centuries,
43:00
but for the Millennium, right? I mean, that's the fact.
43:03
That's what's going on. OK, let's go.
43:06
I gotta warn you, big warning. A lot of us.
43:09
I'm 54, right? A lot of this viewer audience.
43:12
You guys are my age. Some of you are older.
43:16
You probably have grandparents or parents, right?
43:19
Or maybe you're a senior citizen themselves.
43:22
This is astounding. In this will will will anger you
43:28
as well. Scammers built older Americans
43:32
out of $3.4 billion last year, often using cryptocurrency more
43:38
than 12,000 people aged 60 and older.
43:41
But here, here's the warning. Here's the warning, 'cause I,
43:44
you know, I get this all the time.
43:46
I get these emails, Do you get these emails that say thank you
43:49
for your purchase and there's like a receipt attached and they
43:52
want me to click on something? These scammers, I almost got
43:55
scammed. I'll tell you like 6 months into
43:57
starting my YouTube channel, this company contacted me and
44:01
said we want to sponsor you. We want you to.
44:05
I forget what was talking about something but it was like this
44:07
really great deal and I was new and I'm like, this sounds
44:10
awesome, this sounds great. And you need to download the
44:13
software on your computer. And I I'll be honest, I felt
44:16
far. I started to download the
44:18
software and then they wanted, they said we need to send you,
44:22
we're going to send you some money, you know, And I like an
44:25
agreement that they wanted me to sign and we're going to send you
44:27
some money to get started. So give us your bank account,
44:31
your routing number. And then thank God I woke up and
44:34
realized like, this is a scam, right.
44:37
It's easy to fall. These people are insidious,
44:39
creative, and extremely deceptive.
44:42
At least 101 thousand Americans aged 60 and over were victims of
44:46
digital fraud last year. Never give your bank account
44:50
information. Never give any of that stuff
44:52
out. Be very leery of emails that you
44:55
get with the average person losing almost $34,000, A new
45:00
report from the Federal Bureau of Investigation.
45:05
The biggest dollar amount losses came from scams involving
45:08
Bitcoin and other crypto currencies, the report said.
45:11
OK, now look, look, it's not just crypto.
45:14
There's there's also been scams in the precious metals sector.
45:18
So again, you're gonna buy precious metals, work with a
45:22
company you can trust, do your due diligence right?
45:26
Make sure that you're getting the most legitimate metal for
45:30
your money. For me, right?
45:32
Based on my experience and I you know what?
45:35
I can sit here. I can say this to you 100%.
45:37
I trust Pembecks. OK, again, do your own due
45:41
diligence. I'm not going to tell anybody
45:43
what to do. And there's other good,
45:44
reputable, trustworthy, bullying companies out there.
45:48
Absolutely. There's a lot of good people.
45:50
But even in the bullying industry, there are some
45:53
scumballs. There's no other way to say it.
45:55
Some. A few, right?
45:56
Most people are good, honest people.
45:58
But this is this is where it gets crazy.
46:01
Losses totaled 3.4 billion, with nearly 40% of that involving
46:06
crypto currencies. OK, here.
46:09
Here's how they do it. Tech support scams.
46:13
OK, when they when when they get something on your computer
46:16
saying, oh, we got a you have a you need to contact us at
46:19
Microsoft. I mean, it looks legit.
46:22
I get it. It happens on a regular basis.
46:24
Personal data breaches. Confidence and romance schemes.
46:29
I have a friend I I work with and her mother fell for this.
46:34
This guy like like wooed her mother over the phone from a
46:40
foreign country. I don't want to put any other
46:41
countries down and had her mom sending like thousands of
46:46
dollars worth of Apple something.
46:49
Gift cards. I mean this stuff really does
46:51
happen. Non payment, non delivery scams,
46:54
right? Investment scams.
46:56
It's it's very interesting. Guys, be careful, OK?
47:01
Be careful because there are scammers out there.
47:04
Scammers galore. Look, guys, I believe we are in
47:09
for much, much better days. Hold on one second here.
47:15
Let's put metal Sierra for silver and gold.
47:18
Tomorrow will be massive, right? Tomorrow is actually a big day.
47:24
No all joking. An exaggeration aside, right,
47:27
This jobs number that's comes out could have a big impact on
47:30
the silver price and the gold price noise.
47:33
At this point, it's all you. I want you to smile with me.
47:37
Oh, I didn't ring the cowbell. Hold on.
47:38
We got 200 thumbs up. Sorry, Jake.
47:45
I almost forgot that. Thank you, Jake from Jake's
47:47
custom parts for reminding you that everybody loves Jake.
47:49
Jake. Jake.
47:50
Jake. Jake.
47:50
Jake. It's all noise.
47:53
That's all it is, right? At this point, the Fed has
47:56
become more of APR firm. Oh my gosh.
48:00
I didn't even look. I'm not bragging, but I'm the
48:02
first person to bring that up. I I created that concept.
48:06
The Fed's not a bank. The Fed is APR firm and that was
48:10
proved to us yesterday, right. They don't do anything.
48:14
They can't, right They can't because what they're selling is
48:18
fake, is phony. It doesn't really.
48:20
It's not backed by anything. It's all confidence right now.
48:23
We're going to have all the Fed governors coming out in the next
48:26
few weeks and, oh, and you're going to see gold and silver
48:28
moving all over the place because Fed Governor Waller, Fed
48:31
governor Googles be Fed governor from Kansas City.
48:36
I used to be that guy here in Saint Louis who drove me nuts.
48:39
Bouvard, They put him out to pasture.
48:42
He's like hanging out at somewhere in Indiana as a
48:45
professor at a university. Remember Bouvard?
48:48
He would say stuff and gold. We get clobbered, Silver, we get
48:51
clobbered. So be prepared for that, but be
48:53
prepared for tomorrow. But at the end of the day, the
48:56
Fed is on the mat. I'm going to say it one more
48:58
time, right? They got hit with the 1-2 punch.
49:00
Gold and silver. Gold and silver are the hegemony
49:04
of the world. Everybody talks about the US
49:08
being the hegemony, the world power.
49:10
I know, you know, we kind of sort of still are.
49:12
But the truth is silver and gold are and always have been the
49:18
hegemony of the world. Hegemony, however you say it,
49:21
Susie's going to rip me for that one as well because I don't
49:24
pronounce things right. You know, Russia, China, they're
49:27
not the hegemony. the United States, We're not the hegemony.
49:31
No, the real hegemony of the world are gold and silver.
49:34
You can see it with central banks buying more and more.
49:37
It's going to be an interesting ride.
49:39
I'll be here with you through it all.
49:41
I appreciate everything. I appreciate you basement
49:44
dwellers. Come back and I'll see you soon.