Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **SILVER** You Best PAY ATTENTION to This! 🇮🇳 (Gold Price Also)

Transcript

**SILVER** You Best PAY ATTENTION to This! 🇮🇳 (Gold Price Also) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:02
An Indian silver cartel? Yes, the country India.
0:06
Are they trying to control all the world's silver?
0:10
The Financial Times from London, England, Unless I have that
0:14
wrong. Are they pumping precious
0:17
metals? Is mainstream media picking up
0:19
on the story, which could provide an explosive amount of
0:24
new demand for silver and gold and maybe have a little impact
0:28
on our silver and gold price. But most important, we're going
0:31
to talk about startling information regarding the
0:35
national debt. And of course, Jerome Powell.
0:39
I'm telling you guys, I know you, right?
0:42
I know the type of person that you are.
0:45
You want to look out into the future, right?
0:47
You know what happened with Jerome Powell yesterday,
0:49
whatever. What we're concerned about is
0:52
what's going to happen in the coming months, quarters and
0:55
years. And we're going to talk about
0:57
that in this video because it is downright scary.
1:00
And one of you sent me some information, actually commented
1:05
on one of the videos that opened up a whole new idea that I'm
1:09
going to share with you here real soon in regards to the
1:13
national debt and why basically, we are up a Creek without a
1:18
paddle. And you know what that'll do for
1:21
the price of your silver and your gold.
1:23
Thank you for being here. It's a big deal when you join me
1:27
in the basement. It really is OK.
1:30
It's our honor that you are here.
1:31
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1:34
home, a little club you can go to to talk about what you like
1:38
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1:40
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1:58
Now let's go straight to this comment from one of our viewers.
2:01
This is new information and something quite frankly, that
2:05
startled me and I'm an right. I should have.
2:07
I should have known this. This is from our friend Dennis
2:13
Stupor 8262. He said what people aren't being
2:18
shown is the compounding math that is going to really affect
2:22
our debt levels and our inflation year after year.
2:26
Now things are going to get much worse and it won't stop.
2:30
He's talking about compounding math.
2:32
Guys, look, here's the situation.
2:36
Jerome Powell in the Federal Reserve and the US economy and
2:40
the general US population is in very, very scary, precarious set
2:47
of circumstances right now. There's no other way to put it.
2:50
Silver and gold are going to do great.
2:52
They're going to serve their purpose.
2:53
But at this point, they are, we are in big, big trouble.
2:56
What Dennis brought up that we don't, I haven't heard anybody
2:59
else really talk about is the fact that not only do we have
3:03
this massive debt, not only do we have massive interest
3:07
payments that we're paying, but this is compounding.
3:10
Look, I don't know what level of financial education you have,
3:13
but compounding interest means like if you have $100,000 and
3:18
you make 10% interest, at the end of the year you have
3:22
$110,000, but the next year it compounds.
3:27
Now you're making interest on the 100,000 plus that additional
3:31
10,000 you made the year before. Well, guess what?
3:34
That same math works when we're looking at the US debt.
3:38
And let's go out here. Let me just show you in no
3:41
uncertain terms why this is becoming a massive problem.
3:45
And it's right up here in the upper left hand corner.
3:49
OK, 35 trillion, $254 billion. So every year we're paying this
3:56
right down here, 926 billion, we're approaching a trillion
4:01
dollars in interest a year that we'll be paying on our national
4:05
debt. Yes, we are now paying more in
4:07
interest than we are on National Defense.
4:10
But what's crazy about this is this number is growing because
4:16
this number is growing. But on top of that, interest
4:19
rates have gone up. I imagine the average interest
4:22
rate right now on this debt is somewhere around what, 2 1/2
4:26
percent maybe. I mean, interest rates were at 0
4:30
or close to it for a long time. All this new debt that's getting
4:34
rolled over is now being refinanced at much higher rates,
4:39
which will make this number go up.
4:42
This number goes right into this number.
4:45
It's compounding to just like it can can compound for you on the
4:49
positive side, it's compounding on the negative side against the
4:53
United States. But wait, there's even more
4:56
because not only are we paying interest now on the interest
4:59
that we accrued over the previous years, but on top of
5:04
that, right, we have this thing called the deficit, which means
5:08
this number is growing even more.
5:10
Guys, this is a big problem and it's going to create a situation
5:14
for Jerome Powell that is untenable.
5:17
They are. We're going to talk about the
5:19
the Indian Silver Cartel, don't you?
5:21
Don't you worry. Get ready for $44 silver by
5:26
Christmas, no doubt. OK.
5:28
And we're going to talk about the Financial Times, but we got
5:30
to talk about the Fed in the US economy because that is going to
5:34
have everything to do. What really matters that the Fed
5:37
noise yesterday. Oh, yeah, it's a new era.
5:40
Jerome Powell propels the price of silver and gold higher,
5:44
yadda, yadda, yadda, right? That's great.
5:46
Don't get me wrong, it's wonderful.
5:49
But Jerome Powell didn't propel the price of gold and silver
5:52
higher. I'm going to show you again
5:55
quickly what propelled the cost, the price of gold and silver
5:59
higher. It's that right there, guys,
6:02
right. That's the elephant in the room
6:04
that nobody's talking about. That's going to make a massive
6:06
difference as we go through the end of the year.
6:10
The rate cuts, OK, The rate cuts aren't going to do anything.
6:15
They're talking about rate cuts. Are they going to propel the
6:18
economy to new highs? No, we are headed for a
6:21
recession in this country. 1/4 point or a half point interest
6:25
rate cut, even more interest rate cuts going forward, right?
6:29
There's an underlying influence that we just talked about that
6:33
will keep the US economy in shambles probably for a decade
6:38
to come. OK, they can cut interest rates
6:40
all they want. It's not really going to make
6:43
all that big of a difference. But where it really gets scary,
6:46
where it really gets crazy, OK, is the fact that the Fed, yeah,
6:52
sure, they'll probably raise rates again, but they'll never
6:55
be able to raise rates to fight inflation effectively.
7:00
They're not going to tell you that.
7:01
They're going to play the smoke and mirror monkey, Mickey Mouse
7:04
Club BS, Unicorn fart dust paper, whatever you want to call
7:09
it, right? Bubble gum and duct tape.
7:11
I got a whole slew of words that we can use right there.
7:15
But they're not going to fool you and me because we know under
7:18
the surface there's lurking this big issue.
7:21
Think about this. Let's say Jerome Powell cuts
7:25
rates. Inflation's coming no matter
7:26
what. But that could right be a
7:28
catalyst for even more inflation as we move into the next year.
7:33
Is he really going to be able to raise rates?
7:36
Because guess what? Cutting the interest rates isn't
7:39
going to help avoid a recession. So if we're in a recession 6
7:43
months, nine months from now, OK, And we have inflation six
7:48
months, nine months from now, how can he raise interest rates?
7:52
OK, if he raises interest rates, right, that will kill the
7:57
economy even further. But wait, consider this.
8:01
There's something else to think about is that massive debt pile
8:05
continues to compound, right? Like our our friend, our
8:09
subscriber here, Mr. Dennis Stupor brought up, they can't
8:15
raise it think the the the government, the country, if they
8:18
raise interest rates any higher right than where we've been
8:22
right to try to fight what I think is going to be big
8:24
inflation troubles coming down the road.
8:27
They can't afford the interest expense, guys.
8:30
They cannot afford the interest expense because that number,
8:33
that $35 trillion in national debt, it's going to be 45 before
8:39
we know it. It's going to be higher and
8:42
higher as and as they're refinancing debt and they're and
8:45
they're adding to the debt with the deficit and all that
8:49
interest that they're paying at those higher rates is adding to
8:52
the debt. You're going to tell me they're
8:53
going to raise interest rates? No, right.
8:57
The underlying fact when it comes to gold and silver is that
9:02
it will keep up with what is going to be an inevitable
9:06
devaluation of the US dollar. OK?
9:10
That's the only way it's going to do it.
9:12
They aren't. They just aren't going to be
9:15
able to raise rates. Sorry, Jerome, you've been
9:18
neutered. It's, you know, look and, and
9:21
it's a horrible situation. It's a horrible situation for
9:24
you and me, for our children. If you have grandchildren, for
9:28
your grandchildren, for your neighbors, at least you're a
9:31
little ahead of the game. You have the courage and the
9:34
bravery to look at this situation and call it what it
9:38
is, not just live blindly and say, well, everything's OK.
9:41
We've always had a national debt.
9:42
No, right. We learned yesterday, in 1980,
9:46
right, the last time that wasn't that when Volcker raised
9:48
interest rates through the roof, we had less than $1 trillion in
9:52
national debt. We've got like 38.6% more, 38.6
9:57
times not percent times times more debt right now is an
10:03
untenable situation. Silver and gold will do well.
10:07
I want to reiterate that, right, in the coming 10 years, look, I
10:11
could be wrong. Don't make any financial
10:13
decisions based on what I'm saying.
10:15
But that's the, that's the real the Fed. the Fed is really in a
10:19
box where they're only going to be able to do one thing to keep
10:23
the system going, and that is devalue the dollar, right?
10:29
Dilute the value of the dollar. That's the only option they
10:34
have. OK, The debt is the problem.
10:38
The national debt is the problem.
10:40
And it's not just us, you and me who are growing weary of it.
10:43
Have you heard of these countries called the BRICS,
10:46
Brazil, Russia, India, China, South Africa, Iran, maybe Saudi
10:51
Arabia, Ethiopia, Egypt, the United Arab Emirates, a bunch
10:57
more countries, one of their every.
10:58
The world is growing weary. The world is selling U.S.
11:03
Treasuries. There's some people that really
11:07
analyze what's going on with the national debt that are wondering
11:10
who exactly is buying all the debt right now as the Treasury
11:14
finds itself in it on an ever faster running treadmill.
11:19
We got a treadmill way back there.
11:20
You can't see it. I get on it about once every 9.4
11:23
months and I'm on there for about 9.4 minutes and I can
11:26
never learn how to work the thing.
11:27
But it starts going faster and faster and faster.
11:30
That's what the government finds itself.
11:33
People are concerned who's actually buying the debt right
11:36
now? We don't know.
11:37
OK, the best analogy I can come up with.
11:42
OK, I'm going to give you a great analogy, but first let's
11:44
go ahead and check on the silver and gold price and see where we
11:47
ended this week. We're going to go and take a
11:51
deep breath and realize that gold is at 2514 dollars.
12:00
I want to refresh your memory. back in December when we were
12:04
all happy and warm and fuzzy about the Christmas season, we
12:08
were hoping to get the $2100 gold.
12:12
Guys, we are now at $2514.00 gold.
12:16
OK, the silver price hovering just below $30 per oz.
12:22
In February of this year, we were at what, $2223 per oz?
12:27
We are doing very well within the precious metals.
12:30
We could get a pullback. I'm not calling for it.
12:33
I mean, but that's when they usually show up, right?
12:36
When we least expect them. But be prepared.
12:39
Do you think we'll get a pullback?
12:41
I don't know. We'll have to see.
12:42
We'll have to see, but let's say thank you to Pembex when we're
12:46
here. Hey, over the weekend, if you're
12:48
looking to get your your paws on some gold, silver or platinum,
12:53
check out what Pembex has going right, right.
12:56
There's gold, there's silver, there's platinum group metals.
12:59
I think what you'll find is what I found you'll always get can
13:02
ultra competitive pricing right a company you can trust great
13:07
selection and if you ever decide that you want to consider
13:10
converting partner all of an IRA, please please, please,
13:13
please, please, please take your time shop around and make part
13:17
of that shopping around a call to Pembex.
13:20
Compare how much actual gold and silver you can get from all
13:25
these different companies that want to convert an IRA into
13:29
precious metals. So Jerome is in big trouble.
13:34
All right? He is in big.
13:35
Let's get him out and say hello. It's Saturday morning.
13:38
What the heck? Here he is.
13:39
He's he's been handy lately. There he is.
13:43
He's in big trouble. OK, I'll ask you.
13:47
That's the R. That doesn't stand for Ron.
13:49
That stands for recession. He's in a box.
13:52
He's boxed in. OK.
13:54
He's got the recession, OK. And he has inflation.
14:00
And you know what? We need to put a big D on top of
14:04
the box because he also has the national debt.
14:08
Hold on. We're making live modifications
14:17
to the Jerome box. Jerome's in a box.
14:21
It's got a recession on one side, inflation on the other.
14:27
And that's backwards to you, isn't it?
14:29
There we go. And in the national debt on top,
14:34
the debt is what's holding the lid of the box down.
14:39
OK? It's not going to end well,
14:42
guys. It is not going to end well.
14:43
It's like this. It'd be like if you're a soccer
14:45
coach, a football coach, any outdoor sport that you'd like to
14:49
imagine yourself being the coach of the team.
14:53
Jerome is you also. Jerome's the coach, right?
14:56
He's coaching, we'll say, soccer game out there on the field.
14:59
OK. A tornado is approaching.
15:04
So at first, you know, in the tornado is the national debt, a
15:08
big, massive thunderstorm. However you want to imagine
15:10
this. Thank you.
15:11
Thank you. Yeah, H for hyperinflation.
15:14
Thank you for the Super chat, Frank.
15:17
So Jerome's trying to coach the soccer team, which is the US
15:20
economy, but there's a big thunderstorm approaching, and
15:24
the thunderstorm is the national debt.
15:25
First, the winds blowing 5 miles an hour, not that big of a deal.
15:29
The tactics work. Then the debt goes up, the wind
15:32
picks up to 201520 mph. It becomes a little more
15:37
difficult, right? Maybe that was the O eight
15:39
financial crisis. It's hard to coach a team and
15:43
have a big impact when the wind's blowing 20 miles an hour.
15:47
Then as the storm really approaches, which is where we
15:50
are right now, the wind is blowing 45 mph.
15:55
You can make some calls, but you can't really control what's
15:59
happening in that 45 mile an hour wind that Jerome Powell's
16:03
trying to coach the soccer team during is the national debt.
16:07
And then you've got all these other factors like we just
16:10
talked about inflation, which is going to be a big issue.
16:13
Be prepared, guys. Inflation comes in waves.
16:18
If you do any study of the history of inflation, what you
16:21
learn is that it's not just boop.
16:23
We had some inflation and now it's all gone.
16:25
Bye bye. All right, Historically,
16:27
inflation comes in waves. You get one wave, then you get
16:31
another wave. And we just finished the 1st
16:34
wave of inflation. Now I want to ask you a
16:37
question, OK, and leave a comment in the comment section.
16:41
But how do you think your neighbors, your family members
16:45
who aren't, I don't know, as interested in the subject matter
16:51
that you and I like to talk about, How do you think they're
16:53
going to react when the next wave of inflation comes by?
16:57
You ever hear that saying, fool me once, shame on me, fool me
17:01
twice, shame on you? I think, and I want to know how
17:06
you feel about this. But I think, you know, a lot of
17:09
people kind of like muscled through this fact that food is
17:13
so much more expensive and gas and car insurance and everything
17:18
is so much more expensive right now.
17:21
But the question is, how are they going to react the second
17:24
time around? So I think people are going to
17:26
freak out, right? They're going to freak out when
17:30
inflation goes back up. And I think part of that
17:33
freaking out, part of that will be we'll get a new massive wave
17:40
of people who wake up to the idea that, oh, you know what
17:45
this stuff, right, Unicorn fart does paper money.
17:52
You know, now that I think about it, I'm 54 years old.
17:56
Ever since I was a kid, it's gone down in value.
17:59
But gosh, back in 2021-2022, it really went down in value.
18:04
And now that it's 2025 and it's going down in value again, when
18:09
I go to the grocery store, my bill seems to be 40 or $50
18:13
higher than it was just six, nine months ago.
18:16
I need to do something. I need to do something quick,
18:20
right? And those will be, that will be
18:22
a wave of new people coming into the precious metals sector.
18:27
Let's talk about, let's talk about the Indian silver cartel.
18:31
This is interesting. India, right, is going to single
18:35
handedly right take over the world of precious metals.
18:39
We talk about India being the precious metals capital of the
18:43
world. All right, We know they have
18:45
25,000 metric tons of gold hidden in their houses.
18:48
We know their central bank is buying gold like crazy.
18:51
But silver, these numbers are astounding.
18:53
And this comes from mainstream media.
18:56
We're going to come back because our friend here, Dennis, had
19:01
another another great comment and I want you to leave
19:04
comments, guys. I read your comments right?
19:07
And I'm I'm featuring one on every show now where we can talk
19:10
about how it relates to the subject matters.
19:12
Please leave a comment in the comment section.
19:15
Super chat, super thanks or super appreciated.
19:18
I'm going to beg you all, all 490 of you, 500 of us basement
19:23
dwellers, I really want you to come back.
19:25
So please leave a or no, leave a comment, yes, but also hit the
19:31
subscribe button. For me, that was the most
19:35
unsmooth beg for a subscribe ever, but maybe you'll do it.
19:38
Turn on the notifications again. Thank you for the Super chats.
19:42
Let's go out and read about what is happening.
19:45
Let's do a little reading, basement dwellers.
19:47
Let's read about what's happening with India.
19:49
I want to point out this comes from Reuters.
19:52
I have a full video coming out on this I believe later today.
19:56
But India's silver imports to double on demand for solar and
20:03
investment. That's the key.
20:05
We already knew the solar, but wait till you read this.
20:08
Oh boy, is that am I looking into your basement right now?
20:11
Is that what your basement looks like?
20:12
A bunch of silver bars all stacked up.
20:16
All right, hold on. Here we go.
20:21
India's silver imports are on course to nearly double this
20:25
year due to rising demand from solar electronics and as
20:30
investors bet on the metal to give better returns than gold,
20:36
leading importer said on Friday. Higher imports?
20:40
Did you know this? India is the world's biggest
20:44
silver consumer. OK could give further support to
20:49
global prices, which are close to their highest level in more
20:53
than a decade. Let's unpack that and remember
20:57
where we are now with $30 silver.
21:01
These are high. We're almost there guys.
21:04
We are almost there. Right when we get to the
21:08
3430333435 dollar level, it's clear sailing straight up to 44
21:16
dollars like I promised you for Christmas.
21:19
I could be wrong. Don't make any financial
21:21
decisions based on anything I'm saying, but we are at decades
21:26
high levels in silver. There aren't still even where we
21:30
are now, a lot of anybody who's wanting to get out of silver at
21:33
$30, I got news for you. Knock, knock, knock.
21:36
I don't know if you could hear that, but knock, knock, knock.
21:39
This is your third chance right now as we get up to this $30
21:44
level, there aren't a lot of people who are sitting around in
21:47
their basement saying I made a mistake buying silver.
21:52
I'm going to with silver ever hits $30 again, I'm going to
21:56
sell, sell, sell, right. Those people sold the last two
21:59
times. There's still some people out
22:02
there, but the resistance is becoming less and less and as we
22:05
get through 30 and we get to 3334, go watch later on today,
22:10
go to my go to the channel. Watch the interview I did with
22:13
Phil Streibel from blue line futures.
22:16
What a smart this He's been on CNBC, he's been on Fox Business,
22:20
he's been on he's a high level, super smart guy.
22:23
And listen to what he says about silver once it gets above $34
22:28
per oz. OK, India imported 3625 metric
22:33
tons of the white metal last year.
22:35
All right, let's go down because as usual, it gets better.
22:39
This year's purchases could rise to between 6500 and 7000 tons
22:46
due to the rising industrial demand, said Craig Thakar, CEO
22:51
of Amanda Group Gwala, a leading silver importer.
22:57
India's silver imports in the first half of 2024 jumped to
23:01
4500 tons from only 560 a year ago.
23:06
Hold on. If you're anything like me,
23:09
kilograms, tons I think in Oz. And according to my mathematics,
23:15
this year's purchases of India of almost 7000 tons of silver,
23:21
that equates to almost 250 million oz.
23:26
The mining sector only create only only, only mines creates
23:32
whatever 850 million the total world output if you also factor
23:37
in recycling and that is about a billion.
23:40
What we're talking about here is India alone importing about 30%
23:45
of the world, mining production of silver, 30%.
23:50
That's just India, guys. OK?
23:54
There's traditional demand for jewelry.
23:56
People are also buying for investment purposes.
24:01
Now that the duty has been cut, they lower their taxes, OK?
24:06
The car said investment demand has been phenomenal in the first
24:10
half of the year as people bought silver anticipating it
24:13
would give them a better return than gold.
24:16
Hold on here. You do you realize what we just
24:20
learned? All 500 of us.
24:22
We got 500 people in the basement.
24:23
It's getting crowded down here. Somebody get me some coffee.
24:28
Hey, guys. All 500 of us.
24:30
We just learned that India alone.
24:33
India. Just India, OK, is importing,
24:37
buying 30% of the world mining output of silver this year.
24:44
But wait, there's more. Because what the Indian analyst,
24:48
the top guru, the guru from India is telling us is that
24:54
investment demand is phenomenal. Oh boy, oh boy.
25:00
I can't hurt help. I can't help but point out to
25:04
us, we're all sitting around the campfire together right now
25:09
talking about silver and gold. I got to point something out to
25:11
you. Indian investment demand.
25:15
What if? Just what if, what if?
25:17
Don't get mad, I don't want you to get mad.
25:18
Don't don't throw any tomatoes at me through the screen.
25:22
But just what if investment demand comes back in the West,
25:27
where it has been 0, nothing, nada.
25:31
Some people are saying that the Americans are so hard up for
25:35
money that they're selling their silver and that that silver that
25:39
they're selling back to their local coin shop or whoever
25:43
they're selling it to, that a lot of it is being melted down
25:46
and shipped over to the East to countries like India.
25:50
What if I'm just saying, I'm just saying, right?
25:54
Because traditionally this has happened in the past.
25:58
What if investment demand in the West were to pick up?
26:03
What if, just saying, right, silver goes to $34 an ounce a
26:10
month from now and then it goes to 40 and then all of a sudden,
26:14
right, all of a sudden Yahoo Finance and CNBC and they're
26:19
starting, oh, silver's a pro. Can it be, you know, what if,
26:23
what if people start to wake up in the West and start to put
26:26
money into the SLVETF, which we don't like, but nonetheless,
26:30
what if they do? Guys, It could be watch my
26:36
interview with Phil Streibel from Blue Line Futures, right?
26:40
One of the smartest guys in the room.
26:42
It's he had some insights that I think you'll enjoy hearing
26:45
because what could happen is as we get up there, as we get up
26:48
there, and it's not just India at that point, but it's the West
26:52
as well. We could move in the silver
26:54
price from $34 to $44.00 right in rapid, in a rapid period of
27:03
time. A rapid period of time in a
27:05
QuickTime, in a short period of time.
27:07
We could get the $44 or higher right before Christmas.
27:12
Now look, I could be wrong. We could be sitting here at
27:15
Christmas, big frown on my face. Sorry guys, I was wrong.
27:19
And if I am, I am, I'll fully admit it.
27:22
Right back in December of last year, we were calling for $2100
27:27
by Christmas. We got it in mid-december.
27:29
We didn't hold it through Christmas, but we got it.
27:32
Then we said we'd get the $2500 gold by May.
27:35
Darn it guys, do you remember we came within, within like a
27:41
spitting distance like $15.00 of getting that 2500 by May.
27:45
And now we've got it. So when we talk about 44, you
27:49
say, well, look, I don't, we don't.
27:52
I read all the fancy charts, inverse head and shoulders, cup
27:55
and handles from formations, right?
27:57
We know all that stuff. We we assimilate it all
28:00
together. That's what I think.
28:01
Where do you think, what do you think the highest price that
28:05
silver could go when you're hearing about India, right?
28:08
When you're, when you factor in that this decades high, like the
28:13
article told us, did it not just tell you something?
28:17
We're at decades high levels for silver right now.
28:21
Well, guess what? I'm I got to bang something.
28:24
This is gets me so, so, so fired up, excited in a good way, But I
28:28
don't think that we really fully comprehend the fact that silver
28:32
is a decade high levels and it's done that when it's been getting
28:37
urinated on, for lack of a better way to say it, by the
28:40
western investor. I'm sorry, I'm usually not that
28:44
crude, but the West has been, has been net not buying silver,
28:51
right? Silver.
28:52
Like it's the same dumb analogy I use all the time and I can
28:57
call myself dumb, but it's not dumb.
28:59
It's true. It's like a runner, a sprinter,
29:03
right? The 100 meter dash or whatever
29:05
they call that at the Olympics, it'd be like this.
29:08
It'd be like a couple weeks ago the Olympics were on, right?
29:11
And we actually watched them more than ever when they did the
29:13
100 meter dash. If the guy if it Mr. Silver, Mr.
29:18
Gold, right, OK, this is the greatest analogy ever.
29:22
The gold medal winner in the 100 yard dash, it would be like if
29:26
he set a world record and Mr. Silver, the guy that came in
29:31
second, right, set a pretty much close to a world record, which
29:35
is what we are right now with $30 silver really if you think
29:38
about it. But those guys did that in
29:42
Paris, running in the Olympics, and there was a massive
29:46
windstorm coming in at them. They were running into a 20 mile
29:50
per hour wind. But despite the fact they had
29:52
the wind blowing in their face, Mr. Gold set a world record.
29:57
And Mr. Silver, what happens when the wind die?
30:00
And that wind is the, is the Western investor dumping,
30:06
ignoring, OK, silver and gold. What happens when that wind dies
30:13
down? What don't Now what?
30:16
What do you think would happen if that wind shifted and Mr.
30:20
Silver and Mr. Gold had the wind at their back?
30:24
That's, that makes for a very interesting scenario for the
30:30
silver price and gold price. I want you to think about that.
30:34
Does that make sense? It makes sense to me.
30:36
I'm going to go to the to the comment and say yes, but tell me
30:41
say yes or no. Hold on.
30:43
There. There we are.
30:44
I did. OK.
30:45
Ron, can I comment on gold and silver mining stocks?
30:47
Yeah. OK, Robert.
30:48
Yeah, I will. At the end, I'll talk about the
30:50
gold and silver mining stocks. I don't do that enough.
30:52
Thank you for reminding me, but I wanna talk about now.
30:57
OK, Yeah, we're going to talk about gold and silver mining
30:59
stocks. Look at First Mining Gold,
31:02
Canadian gold developer with two multi $1,000,000 projects in
31:05
Canada, one in Q1 in Ontario. You can learn more about them at
31:09
firstmininggold.com. Fortuna Mining, their silver and
31:12
gold producer operations in Latin America and West Africa,
31:16
generating massive cash flow. You can learn more about them at
31:20
Fortuna mining.com. We're going to talk about what's
31:23
going on because it does matter. It matters.
31:28
It's and it's and it and it goes just with what we were just
31:30
talking about. It matters what's going on with
31:34
the precious metal mining stocks.
31:35
It matters whether you own them or not.
31:39
And it has everything to do with that scenario that we just laid
31:42
out. OK, All right, Because guys,
31:46
we'll talk about that. Then we're going to talk about
31:47
what the Financial Times from London, England is saying about
31:52
precious metals Financial Times. That's like, as far as I know,
31:55
that's like the Wall Street Journal, the Wall Street Journal
31:59
of London, the financial capital.
32:01
Well, whatever, I don't know what they are.
32:02
Let's all have a sip of coffee. I'll be right back and I'll try
32:05
to remember to turn the microphone back on.
32:17
All right, we got the mic back on.
32:20
Let's talk about. Let's talk about why it's a big
32:22
deal. Just like I said, the Western
32:26
investors aren't buying gold and silver, silver in particular,
32:30
OK. They're also not buying the
32:32
precious metal mining stocks. The precious metal mining
32:36
stocks, the big producers OK, are making massive amounts of
32:41
cash flow right now, $2500 gold, $30 silver.
32:45
Wall Street can only ignore that for so long.
32:48
When Wall Street OK and I have a huge I have most of my money and
32:53
precious metal mining stocks we have suffered, you know I have.
32:56
It's been a horrible period, but I know the value that's there in
33:01
the precious metal. Mining stocks, in my opinion,
33:04
don't make any financial decisions based on anything I'm
33:07
saying because I thought there was huge value in them two years
33:10
ago. But in my mind, it's never, I
33:13
know Peter Grandich not to put words into Peter's mouth, right?
33:16
The Wizard of Wall Street, the Wiz kid, he feels the same way.
33:21
OK, I feel like we are ahead of the curve at this point.
33:26
But when Wall Street starts to pay attention to the precious
33:30
metal mining stocks, they're also that will also put
33:34
attention when they start talking about it on CNBC
33:37
Halftime Report or whatever. And they've done that in the
33:40
past. They will do that again.
33:43
What do you think? You know, the sheeple, the
33:45
people that's you know, and nothing against if you watch
33:48
CNBC or any news channel, but the people you know, the other
33:51
98% that are like Jim Cramer and you know, whatever, right?
33:57
And pay pay attention to the what CNBSCNBC.
34:00
I'm sorry saying when they start talking about silver and gold
34:03
mining stocks, people are going to start thinking about silver
34:07
and gold, OK, It's the same. It's that headwind that we've
34:10
been running against. If the headwind dies and stocks
34:14
go up, silver and gold continue to go up.
34:16
If the headwind turns into a tailwind, what do you think's
34:20
going to happen? You know what's going to happen.
34:22
It's going to be fun. Let's go talk about now.
34:25
What's going on over in London, England?
34:28
What are they saying? What are they saying about our
34:31
friends gold and silver? This is an article from the
34:35
Financial Times. Yes, the Financial Times, the
34:38
Wall Street Journal of London. OK.
34:40
They say a new gold rush reflects the world's deep
34:44
worries. The price of gold reached a
34:46
record high this week, driven by concerns over inflation and
34:51
instability. This is the, this is the, these
34:55
are millions of people who are reading this this weekend.
34:59
This is good. The art, The other article we
35:02
looked at here, right, the silver article from Reuters.
35:06
OK, millions of people are reading this.
35:09
This is an interesting story about gold and, and I think I
35:14
want you to think how this relates to why you have made a
35:19
decision. And you made a decision to hold
35:22
silver and gold when the Dutch Navy sailed up the, I can never
35:27
say it right, Thames Estuary in 1667 and launched a surprise
35:33
attack on British ships. The naval administrator and
35:38
diarist Samuel Pepsi's panicked that quote, the whole Kingdom is
35:43
undone. He was afraid that that the
35:45
British Kingdom was coming undone, OK, Being attacked by
35:49
the Dutch, he sent his wife and father out of London with the
35:55
gold pieces in which he kept his wealth to bury them in a garden.
36:00
OK, And we'll come back to this story later.
36:03
But think about. All right, think about the
36:05
again, the timeless. This is in the Financial Times.
36:09
Today's Chinese and Indian buyers of jewelry and bars are
36:15
not the first people to trust in gold for financial protection.
36:18
This is the Financial Times. It says, quote, when bad things
36:23
happen, gold comes into its own. That's John Reed, a market
36:28
strategist for the World Gold Council, right.
36:30
When things are scary, when there's uncertainty, when you
36:33
don't, when you, when you, when you realize you've realized it
36:37
already. But when, when people think of
36:40
all the people in the world, think of all the people in the
36:43
United States, think of all the people in your family, your
36:45
neighborhood, whatever. When they realize, right, that
36:48
there's instability in the world, when they start to lose
36:53
some trust and confidence, maybe not completely in the US dollar,
36:58
but when they start to realize, right?
37:01
When they start, when they start to realize that this stuff, this
37:07
is just paper, right? And that this is is on top of
37:11
that has consistently done one thing since 1971 and that is
37:16
lost value, right? Where do they going to think
37:20
about I, I know, right? Americans have been, have been
37:24
brainwashed more so than anyone in the history of the planet
37:28
against the value of silver and gold.
37:32
But does the world see it that way?
37:34
The Chinese and Indian buyers, right?
37:37
So let's go down here to the purple part.
37:41
So it is troubling. So it is a trouble troubling
37:45
reflection of the times that gold is making a comeback from
37:49
being written off as an anachronism by many investors.
37:54
It's a troubling, right. Oh, yeah, gold is.
37:56
Yeah. Well, Pet Rock, remember?
37:58
And what did they, one of the, I think it was Ben Bernanke, they
38:02
asked him why then why does the Federal, why does the government
38:05
hold gold? And he said, or the Fed hold.
38:06
And he said it's, it's just, it's just a tradition, just a
38:09
tradition. Central banks have return to
38:12
buying gold, particularly China, Russia and other countries that
38:15
want to reduce their reliance on the US dollar.
38:18
Chinese. I saw a video last night of this
38:21
guy. Even then, this was not a gold
38:24
and silver channel. It was this guy, this kid that
38:27
walks around and talks to really wealthy people.
38:30
And he was talking to this guy on the streets in New York City
38:34
and, and, and the guy said that he had made, he was really
38:37
wealthy and made $14 million last year.
38:40
And he said, well, where's the best place to put your money
38:42
now? And he said gold undeniably.
38:46
He said look, and he brought up the Basil Three, He said, he
38:49
said the the Bank for International Settlements made
38:51
it a tier one asset along with cash and government debt to
38:56
government treasuries. Basically it moved gold up, he
38:59
said. He said undoubtedly in his
39:01
opinion, gold, Chinese retail investors unsettled by a
39:04
property crisis and economic uncertainties, think about your
39:09
country have piled into buying the metal.
39:11
The world's wealthy are also buying more gold, and US hedge
39:15
hedge funds have followed the market trend.
39:18
If this week had the makings of another gold rush, with all
39:22
sorts of buyers scrambling to escape being left out, the
39:26
excitement has yet to reach the gold miners again, right?
39:31
The gold miners have yet to react to what's going on.
39:34
They will react. They are.
39:37
They're starting to move. They're starting to percolate,
39:40
right? And look, the rug pull can
39:41
happen again and again when the attention focus and this is the
39:44
Financial Times bringing this up.
39:47
OK, Nick Brody says quote UN quote, we are still depressed.
39:52
He's the chief exact executive of Golangda Gold.
39:56
That's a small Canadian listed mining company.
39:59
OK, this is interesting. There's still there's already
40:07
plenty of gold. The vaults of the New York
40:09
Federal Reserve contain 507,000 bars, worth about 510 billion at
40:15
this week's prices. OK, that's buried 15 meters
40:19
below sea level. London vaults, including those
40:22
at the Bank of England, hold another 8000 tons, worth 690
40:27
billion. So London has even more gold
40:29
than we we do. A lot of gold is mined and then
40:32
buried again. The gold guarded by the New York
40:35
Fed is not its property. Interesting.
40:38
Much of it arrived there in the same way that Pepe, that's the
40:42
guy who went and hid his gold in the garden to protect himself in
40:45
the 1600s, is taken to the garden.
40:48
After the world wars. Governments trusted the United
40:51
States and put it there. But guys, here's the critical
40:55
thing to understand. We know that many of the
40:58
countries in the world, I think it was Egypt, who else was it?
41:02
A number of big countries are repatriating their goal.
41:05
OK. The stash is becoming more
41:08
precious, which speaks to deep fears amongst investors as
41:13
countries including Russia, China, India and Kazakhstan try
41:16
to de dollarize the purchases of gold by central banks have risen
41:21
in the past two years. Central banks say they're also
41:24
buying more gold because they are concerned about the long
41:26
term risk of higher inflation. That is not comforting news,
41:31
given that if that their job is to keep inflation controlled.
41:34
Think about that, like the Financial Times astutely pointed
41:38
out, if central banks are buying gold to protect their countries
41:43
against inflation, right, That's the central bank's job is to
41:49
protect the countries against inflation.
41:51
Gold bogs warn luridly of currency debasement and
41:55
financial crisis. Then they talk about Robert
41:57
Kiyosaki and what's going on there.
42:00
So very interesting about Rodney.
42:03
Wow, thank you for that super chat.
42:05
Rodney, that's a really goes a long way.
42:08
We got to buy new tennis shoes for the girls today.
42:10
I got to buy new shoes. Please give me money.
42:12
I'm just joking. Thank you for the Super chat.
42:15
600 people here all together on a Saturday morning.
42:18
Basement dwellers. We are moving baby.
42:21
You know what, before we get done, I will ring the gong for
42:24
five times because it's a big deal.
42:26
We hit over 500 people. Let's go back and revisit the
42:32
second comment that we had. Remember, guys, leave comments,
42:37
we read them and we feature them because you matter, right?
42:40
Remember what Dennis started us out with Those of you who joined
42:43
us later, this is earth shattering news to me that we
42:49
never talk about. I've not heard anybody talk.
42:51
Everybody talks about the debt is going up, the national debt
42:54
is going up. Nobody talks about the fact that
42:56
it goes up in a compound matter in a compound manner, right?
43:01
the US debt at 35 trillion, we're paying a trillion in
43:04
interest every year. Guess where that interest that
43:08
we have to pay, where does that come from?
43:09
That comes from issuing more debt.
43:12
So that makes the debt level go up.
43:15
The interest that we are paying, independent of that, the
43:18
interest rate is going up, which makes that interest expense even
43:22
higher. And on top of that, even
43:24
independent of that's being added to the debt, we're running
43:28
massive deficits, which is also adding to the debt, which then
43:32
it all snowballs. Do you see that makes the
43:34
interest expense go up, which makes the rate of interest that
43:38
the government has to pay go up even further because nobody
43:40
wants to buy it because they know there's no way to ever get
43:42
paid off. And then turn makes more
43:44
interest expense, which gets added back to the debt, which
43:48
makes the debt. It's I could go on.
43:50
It's it's a doom loop and it's not a good situation.
43:53
OK, He said, yes, Reagan is. When we hit the one trillion
43:57
mark in debt and then Trump was in office, we had 20 trillion.
44:01
And now just eight years later, we're looking at 35 trillion.
44:06
Let that sink in. Think about that, guys.
44:09
I remember Reagan. Do you remember when Ronald
44:11
Reagan was president, we had a trillion dollars in national
44:14
debt. When Donald Trump was president,
44:16
we hit the 20 trillion mark. And now just eight years later,
44:22
we're above 30. We went from 20 to 35 trillion
44:26
and debt, the debt is the problem.
44:29
There's absolutely no doubt about it.
44:33
This is not going to end well. Hey, thank you for joining me.
44:37
Right us in the basement. It's really a big deal.
44:41
Please, if you could give this a thumbs up if you.
44:45
I got to ring the gong we had. We still have 500 people there
44:48
to go. We're going to ring the gong.
44:50
Man, what a great week. OK, what a great week for gold
44:55
and silver. The old golden gong.
45:04
Not. Really made out of gold.
45:06
OK, I don't keep gold or silver here at the house, you know
45:09
that. But nonetheless, that's a symbol
45:12
that resonates to say thank you to you guys all for for joining
45:17
us today. It was a crazy, crazy week, man.
45:20
What I mean and. It's going to get crazier.
45:25
Don't forget, we're we're coming into this election, which is
45:29
what, early November, almost just two months away.
45:33
Things are going to get super interesting.
45:36
OK, very scary, possibly on some levels, right?
45:40
But we'll be able to navigate it.
45:42
We always do, right? Everything will be OK.
45:46
I know that it can be a little unsettling.
45:48
It's so confusing. Am I the only one?
45:50
Do you ever get that feeling when you're out?
45:52
Like, I mean, I kind of throw my, I mean, it's so confusing
45:56
what is going on out there in the world right now?
45:59
And I think a lot of it has to do with how the mainstream media
46:02
presents things to us. Very what do they call that?
46:06
There's like a gap between reality and, and, and, and what
46:11
and what's being presented to us on a daily basis.
46:14
So, you know, if sometimes it gets to be a little
46:16
overwhelming, know that you're not alone.
46:19
OK. Hey, Jake, all I got to say
46:21
thanks to Jake from Jake's Custom Parts.
46:24
Let me see if there's any good questions in the comments here.
46:28
Golden Dawn. Yeah.
46:30
Buying silver. No joke, man, what a good week
46:32
for silver. Will we a week from now, will we
46:35
be above $30.00 in silver? You know what?
46:38
If you think we're going to be above $30, let's get a feel for
46:42
how US basement dwellers are feeling.
46:44
Type 30. In the comments if you think
46:48
we're going to be. In the 20s, type 20.
46:52
I'm going to get a. Feel from you guys.
46:53
Hey, there's ODBG, old dirty bastard garage.
46:56
Good to see you my friend. Thank you again, Rodney for that
47:05
super. Chat.
47:08
Thank you to Annie Oakley. Thank you to.
47:10
The Jake from Jake's custom parts.
47:11
I don't know if Big 10, the silver shires here, but all the
47:14
moderators. Susie, hello, let's go down to
47:18
the new comments. Lol smack that like button Yeah
47:22
guys 44. I knew somebody would do that
47:24
Jake from Jake's Custom parts. Now you got to understand when
47:28
Jake speaks, people listen. Jake is super connected within
47:32
the silver and gold community. So Jake is telling us $34.40 on
47:37
January is what the Scott Williams is saying, 44.
47:42
It's just over 30 now. That's in the that's in the
47:45
futures market, Scotty. So yes, it is over 30 now in the
47:49
futures market at the spot price I believe was like 2978 or 2987,
47:55
something like that. The people in power are going to
47:58
try to get everyone to sell. The price will go down and then
48:01
boomerang at Sonic speed. Yeah, what's going to happen?
48:04
That's what everybody wants to know, right?
48:07
And I want to know from you as well, right?
48:09
Leave a comment, send me a quick.
48:10
But what's going to happen when the market crashes, right?
48:14
I'll tell you we are in a different environment now than
48:19
in the past when the great financial crisis, when the tech
48:23
bubble burst where we had a massive draw down in the gold
48:27
and silver price. If the market crashes, yes, I
48:30
think there will be a bit of a draw down.
48:32
But I'm going to tell you what I'm going to be ready to act
48:35
quickly because the bounce backs in my feel on this is that the
48:39
bounce backs in the gold and silver price as as these as
48:43
these crisis become more severe, OK and more frequent and reacted
48:52
to by the Federal Reserve more quickly.
48:57
The bounce backs in the gold and silver price are occurring much
49:01
more quickly. Also.
49:03
I remember back during the C19 crisis, we were on spring break
49:07
in Branson, MO. The world was ending like that.
49:09
Monday through Friday we got home and the silver price went
49:13
down low and I was able on a Saturday to order a bunch of
49:17
silver was the best purchase I ever made.
49:19
I think silver was like 14 bucks an ounce and it bounced back
49:23
that week. Look, I'm, I got lucky is all I
49:26
got on that one. But what I'm saying is now is
49:29
we're moving through the like the little banking crisis that
49:32
happened back the year and a half ago, right?
49:34
The little micro crisis we had three Mondays ago in Japan,
49:38
things it react so much quicker. So if you're holding dry powder,
49:42
I'm not giving financial advice, but but, and things are
49:47
different in the world right now in general, right?
49:50
The, the, the, everything's changing for silver and gold.
49:53
Can you feel it? I mean, I feel it.
49:56
I mean, I feel it. I think that the downward
49:59
reaction in the price won't be as, as as severe as what we've
50:05
experienced in the past. And I think the bounce back will
50:07
come much quicker, much quicker than many of us realize.
50:11
I think that that the in terms of my strategy that I want to be
50:15
prepared to move and move relatively quickly.
50:19
All right, guys, thanks again for being here.
50:21
It's a big deal. Don't forget, please support our
50:24
sponsors pin backs, Fortuna mining, I'm sorry, first mining
50:30
gold and Fortuna mining. Have a great day be good to
50:33
yourself. Thank you to all of you thank
50:35
you for the Super chats. Thank you for commenting.
50:38
Thank you for subscribing. Thank you thank you, thank you.
50:41
I think I'm out of thanks but.