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📣ALERT!📣 SILVER and Gold SOUNDING the ALARM · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:05
Silver and gold sounding the alarm.
0:09
You're going to be shocked at what you hear today.
0:12
We have so much to cover in regards to the silver and gold
0:16
price guys. We're going to talk about bank
0:18
failures. We're going to talk about
0:20
failure in the economy. We're going to talk about
0:23
nuclear war, geopolitical craziness and stagflation, But
0:28
let's get started by talking about interest rates and
0:31
interest rate cuts, because that's what everybody's talking
0:34
about. Like we need the Fed to announce
0:37
interest rate cuts just for silver and gold to go up.
0:40
And I'm here to tell you that is not the case.
0:43
So we're going to dive into that.
0:45
But first, I want to give you a little heads up that tomorrow
0:47
morning, Sunday morning at 10:00 AM Central Time, we will have
0:52
Ted from Ted Speaks back in the basement.
0:55
Many of you watched the live stream that we did together
0:58
yesterday requested he come back.
1:01
He's graciously agreed to come back to the basement.
1:04
So if you want to hear more from Ted, get some of your questions
1:07
answered, come back tomorrow, Sunday, 10:00 AM Central time.
1:11
But what is it about this silver and gold price, Silver and gold
1:15
market where everybody's saying, oh, the Fed needs to cut rates?
1:19
I'm telling you guys, the Fed does not need to cut rates for
1:22
the silver and gold price to take off.
1:25
As a matter of fact, the Fed could even raise rates.
1:27
And we're going to dig into what Larry Summers had to say about
1:31
that. It's very interesting.
1:33
But what we need are negative real interest rates.
1:38
Do you understand what that means?
1:39
I'll teach you here quickly. OK, Negative real interest rates
1:44
means when the inflation rate is higher than the prevailing
1:48
interest rate. Now, lately, we supposedly have
1:51
had positive real interest rates, which should have killed
1:55
the silver and gold price, but it didn't.
1:58
OK, silver and gold hung in there very, very well.
2:02
As we move forward and inflation continues to rear its ugly head,
2:07
inflation's not going anywhere, folks.
2:09
I'm sorry. It's just not, especially when
2:12
you look at the fact that we're adding a trillion dollars in
2:17
debt to the national debt every, what, 90 days.
2:20
Hold on. I want to show you this very
2:21
interesting article. Let's dig into this quickly and
2:25
see how we're in the situation right now, that it's untenable
2:31
here from CNBC. Hopefully you can see this.
2:35
Yes you can. CMB says the US national debt is
2:39
rising by $1 trillion every 100 days.
2:44
Isn't that over 3 trillion per year?
2:47
At this rate, national debt now stands at 34 trillion.
2:51
We learned that yesterday with Ted.
2:53
As we looked at the US debt clock since June, the last two
2:57
one trillion jumps occurred in about 100 days.
3:01
The debt is growing and the debt is growing at an ever increasing
3:06
rate. Now what that means, let's just
3:10
think about take a step back as we think about silver and gold,
3:12
all this debt that the Treasury needs to refinance, I think it's
3:16
going to be almost $10 trillion this year.
3:19
People aren't going to buy that at low interest rates.
3:23
The the investors, people around the world are going to demand a
3:28
higher rate of return because they know that the math behind
3:32
the US debt situation is untenable.
3:35
It cannot be maintained. So when everybody talks about,
3:39
oh, we need the Fed, we need Jerome Powell to lower interest
3:43
rates. That's what's really going to
3:44
make silver. No, what's really going to make
3:46
silver and gold take off is this negative real interest rates
3:52
when people realize that the feds going to need to print
3:55
money at some point just to buy the debt that the Treasury
3:58
needs, that we're in a spiral type situation, a doom type
4:02
situation. Barring some economic miracle,
4:06
right? Maybe Joe Biden and Bidenomics
4:08
will pull it off. But barring some economic
4:10
miracle, about the only thing that can happen down the road is
4:14
the Fed printing more money. Now we know that that's
4:18
basically what they've been doing over the last 18 months or
4:21
so with this reverse repo program.
4:23
We've covered that. It's a little complicated, I
4:26
understand, but just understand that the Fed had about what,
4:30
almost $3 trillion of cash on their books that they took from
4:35
the banks, cause the banks had so much extra cash leftover from
4:39
the C19 crisis. And let me get back here.
4:43
Hold on. I'm gonna see you guys again.
4:46
There you are. OK.
4:48
And that repo money, that $3 trillion has been slowly being
4:52
fed back into the economy, OK. And that's been being used to
4:58
sub to subsidize all this debt that needed to be issued by the
5:03
Treasury that is running out. So at some point, the Treasury
5:07
is going to be like, we got $10 trillion worth of debt we need
5:11
to sell. Who wants to buy it, right?
5:13
And the banks are like we're out of money, right?
5:15
The feds, the the kind of stealth QE that was going on the
5:18
reverse repo program. It's over foreign investors.
5:23
We know that the Japanese, the Saudis, the Chinese, they're
5:27
dumping U.S. debt. Who's going to buy it?
5:29
It's going to have to be the Fed and it's going to have to be
5:32
with make believe electronic money.
5:35
OK. That will send inflation
5:38
skyrocketing, in my opinion. OK, all right.
5:42
And so the Fed doesn't need to lower rates. the Fed can leave
5:46
rates where they are. At this point.
5:47
We don't care. Maybe they will lower rates.
5:50
They could even. It's all the relationship
5:52
between inflation, OK, and the prevailing supposed interest
5:58
rate. And we know, right?
6:00
We're dealing with cooked up government type numbers when
6:03
we're looking at this anyway, whatever the real inflation
6:06
numbers are. And this is where it gets
6:08
interesting. Super interesting for silver and
6:11
gold because silver and gold look out into the future.
6:16
They are amongst the smartest, the wisest markets in the world.
6:21
The history of the world, right. Silver's been money for what, 4
6:25
or 5000 years? Gold, 3, whatever, right?
6:29
They've been around the block a few times.
6:31
Silver and gold people make a big mistake.
6:34
They think, oh, they react. They react.
6:36
Oh, the Fed said this. the Fed, you know, the Fed, right?
6:38
The world's biggest public relations firm at this point.
6:42
No. Silver and gold.
6:43
Look out into the future. I've heard someone say I thought
6:47
this was brilliant. They just don't look around the
6:50
corner. They look around like two
6:52
corners, and what they see is a situation that's untenable.
6:57
What they see right now is a situation that a lot of us
7:01
What's the S word? Basement dwellers?
7:03
Stagflation. Right.
7:06
A stagnant economy and we're getting bad economic news coming
7:11
through now, right? We have bad economic news on
7:14
Friday. Housing related news, we got
7:16
bad. I think it was PMI related news.
7:19
A stagnating economy coupled with inflation.
7:23
Because now, right, thanks to our wonderful politicians they
7:27
put us in this position where where it's untenable.
7:30
All they're going to be able to do to deal with it is print more
7:33
money and it's it's going to be silver and gold are are starting
7:40
to wake up, right. Everybody says, oh with the
7:42
current situation with interest rates and well everything else,
7:45
gold should be at 1500 gold. There's a reason why.
7:49
Oh my gosh, we forgot to celebrate, right.
7:52
Gold was up 2% yesterday, basement dwellers.
7:55
Woo Hoo. Yes, yes.
7:57
Good day for gold. Good day for silver up almost
8:00
what, 2% as well. And there's a reason why.
8:04
And I'm telling you and Rafi Farber put out a great video
8:07
comparing where we are right now to the 70s.
8:09
I don't think he specifically talked about stagflation, but he
8:12
talked about it from his own perspective, like we are right
8:16
at that point in the 70s. Nothing's the same.
8:20
OK, Don't forget, right, Silver went I I won't even tell you how
8:24
much silver and gold for that matter, went up during the 70s
8:28
because of stagflation. It's real.
8:31
It's real. It's happening.
8:33
And guess what? Yes, there's a bonus.
8:35
That's why you come to the basement basement dwellers.
8:38
A big, big bonus. Things are even crazier, even
8:42
more exaggerated, more escalated now than they were in the 70s.
8:48
We didn't have nearly a debt to GDP ratio like we have now.
8:52
Thank you, Craig, for that super check.
8:54
Good to see you from Washington State.
8:57
Thank you. We didn't have the the the debt
9:00
to GDP ratio we didn't have. They didn't even know what a
9:03
trillion was back then. Guys, trust me.
9:06
I was born in 1970, right? President Nixon.
9:10
Right. That was my first birthday
9:12
present. He took us off the gold
9:13
standard. They didn't know what a trillion
9:15
was. They hardly knew what a billion
9:17
was back then. You know, Peter Grant talks
9:20
about that. We never even thought nobody
9:21
said the word trillion. OK, let me just remind you, a
9:25
trillion is 1,000,000 * 1,000,000, right?
9:28
Big, big, big, big money, big problems.
9:31
Let's read through here. I have all these notes.
9:33
Larry Summers, let's listen to what Larry Summers says.
9:35
I'm telling you, I know you're like everybody's everybody's
9:40
brainwashed into thinking, oh, they need the lower rates for
9:44
gold and silver to go up. No, it's smoke and mirrors.
9:47
It's it's it's funny money situation.
9:51
We could even have interest rates rise.
9:54
OK. We really could and gold and
9:56
silver continue to do well. We can't always just rely on
10:00
this, on this dogma that we that we believe in.
10:04
Let me tell you what, let me show you what.
10:05
Let me share the screen here and where did it go?
10:10
Oh, U.S. National debt Fed cut here,
10:14
right here. This is from Business Insider.
10:17
This is Larry Summers saying there's a meaningful chance did
10:22
that work? Yes, there's a meaningful chance
10:25
the Fed's next move is a rate hike.
10:28
Oh my gosh, Oh no. Treasury Secretary Larry Summers
10:32
says 15% chance. His rationale is built upon a
10:37
streak of strong economic data and still high inflation.
10:42
Well, I agree with him on the high inflation, but not the
10:46
strong economic data. Give me a break.
10:48
There's almost no strong deflationary pattern in the
10:51
housing and service sectors, he says.
10:53
OK, a wave of inflationary signals means the Fed feds next
10:58
move could be a rate hike, says former Treasury Secretary Larry
11:03
Summers. There's a meaningful chance,
11:05
maybe 15%. He said that on Bloomberg.
11:08
All right again, guys, it doesn't.
11:10
It doesn't matter, right? They can, OK, fine, raise rates
11:14
again one more time, Whatever. They can't.
11:17
The debt, the $34 trillion debt, the 10 trillion that needs to be
11:21
refinanced can't absorb higher rates than where we are right
11:25
now. This is not 1980.
11:27
This is not Paul Volcker's world where he could raise rates to
11:30
15%. No, no.
11:33
And at the same time we have inflation that can spike again
11:38
and it can all feedback into each other than higher interest
11:41
rates means Fed prints more money.
11:43
It's a it's a doom. It's a doom cycle.
11:46
It's the best way I can set I can sum it up.
11:49
So it'll be interesting to see how how they how they play that
11:52
out the only way and let's get back here.
11:56
I'm going to, I want to remind you guys something very
11:59
important. The only way the system remains
12:03
solve it the only way. There we go.
12:06
The only way that everything works that they can keep this
12:11
thing going. They can kick the can a little
12:14
further down the road is by inflating away the debt.
12:18
That is what silver and gold. Thank you, David.
12:21
Thank you. Metal sear for the Super chats
12:23
guys. That's the only thing they can
12:26
do. OK.
12:27
You know it. OK, I know it.
12:29
We understand it. You know, when I was talking
12:31
with Ted Speaks. And don't forget, Ted will be
12:34
back tomorrow. For those of you who've just
12:36
joined us, Ted from Ted Speaks will be on 10:00 AM tomorrow
12:40
morning, Sunday morning, 10:00 AM Central time.
12:43
He'll be answering some questions and sharing some more
12:45
crazy information with us. But we talked about this
12:48
yesterday. We we get caught up in the
12:51
symptoms of what's going on, OK, without looking at the root
12:55
cause and the root causes that we're dealing with a Keynesian
13:00
economic system monetary system and the debt has grown and grown
13:05
and grown. It's a monster.
13:07
It's a doom spiral. However you want to say it.
13:11
The simple math behind it doesn't work and now we're
13:13
seeing all these symptoms sky high inflation.
13:17
It's it's going to be stagflation city, right.
13:21
The economy starts to hit, get hit, while at the same time we
13:24
have high inflation. It puts the Fed in a untenable
13:29
situation. They really don't have a right
13:31
answer of what they can do at that point.
13:33
And everybody, right. Remember extras pyramid, we've
13:37
talked about that for years here in the channel.
13:39
Thank you, Frank. Thank you.
13:41
Everybody that's invested in stocks and bonds and maybe
13:47
crypto, whatever, you know this is not a crypto channel.
13:52
Everything that's that that's make believe synthetic.
13:56
The only thing that's not synthetic from a monetary
13:59
perspective are silver and gold. Everything else is synthetic.
14:03
And everything else you can almost make an argument, isn't a
14:05
bubble, right? They don't even put real estate.
14:08
I guess real estate is real. But we know the prices of real
14:12
estate have inflated beyond return.
14:13
So everything that's up there in that pyramid is little pieces,
14:18
right? Think of it as a big brick
14:20
inverted pyramid all resting on that silver and gold right here,
14:24
right where my hands come together, little bricks start to
14:28
fall out. And we've kind of seen that in
14:30
the bond market, right. But when we really start to see
14:33
the bricks start to fall out of that, it's all going to be
14:36
trying to get into silver and gold.
14:40
I mean, that's it. That's it.
14:42
You know, it's going to be the last.
14:44
It's like what's going on in China right now.
14:46
There is a gold craze in China right now.
14:51
I shared with you some information. 800,000 people
14:55
showed up at one place to buy gold right?
14:58
The day after the Lunar New Year, right?
15:01
Why? And this is what the Chinese
15:03
said. This was a Chinese report about
15:05
what's going on. Because people don't trust the
15:07
stock market. Because people don't trust the
15:10
bond market in China. Because people don't trust the
15:13
real estate market in China. So what's left, right?
15:17
It's like you go to a restaurant and the waiter gives you the the
15:20
menu and says, well, we have 4 entrees.
15:23
These three really stink, but there's one on there that's
15:27
really good and that would be the gold and silver.
15:30
I would no, I don't go out to eat.
15:31
It's too expensive. Susie and I go out to eat at a
15:35
restaurant that has a waiter. Susie's on here, maybe 3 * a
15:38
year at most, you know, And it's a gift card I got from my
15:43
generous parents or sister or somebody I'm just.
15:46
Anyway, that's a whole different story.
15:50
How's everybody doing this morning?
15:51
I really appreciate you being here.
15:53
You are the most important part of the channel.
15:56
Thank you for the Super chats. They go a long, long way to help
15:59
support the channel, help support our family.
16:02
So thank you for that. Please give this a thumbs up.
16:05
That helps get the word out to more people.
16:07
And don't forget, you can subscribe.
16:08
Everything's free. Everything's free.
16:11
What else could you ask for? All right, let's talk about the
16:15
bank failure probe. We got so much.
16:17
There's so much going on. The BTFP program, the bank term
16:21
funding program, March 11th today, that's nine days from
16:25
right now. And are we seeing any problems
16:27
in the bank sector? Let's just let's just go over
16:30
here real quick and take a look at this.
16:33
Another article from CNBSCNBC, I'm sorry, shares of NYCB.
16:39
That's the New York Community Bank 120.
16:43
Oh, we got 100 likes. Let's do the bell.
16:48
All right, guys. Shares of NYCB, that's New York
16:51
Community Bank, fall 25% after the bank discloses internal
16:56
control issues. That means problems with their
17:00
accounting, OK? It's been C BS been under
17:04
pressure in recent months due in part to concerns about his
17:08
exposure to commercial real estate.
17:12
Oh, we almost forgot. We've got a commercial real
17:15
estate crisis in the United States, my Lord, We forgot about
17:21
that. Now look, this is breaking news.
17:24
Only basement dwellers know this.
17:26
I have an idea what they're going to call.
17:27
You know they they bought the the Fed's going to come up with
17:30
a emergency program, also known as money printing or a bailout
17:36
to deal with the commercial real estate problem.
17:39
I want credit for this. I don't.
17:40
I don't demand credit for a lot. But I think they're gonna call
17:42
it the crap program. Crap commercial real estate
17:47
asset protection program, the crap program.
17:50
And that's what it is, a bunch of crap.
17:52
I can say that word I think on the channel.
17:55
And I I can't wait till till So Janet Yellen and and Jerome
18:02
Powell are having a press conference saying due to the
18:06
stress in the banking system that nobody saw coming, the
18:10
commercial real estate program we're we're announcing, we're
18:14
going to take the crap program to a new level.
18:17
We're going to anyway. Enough of that.
18:19
The bank also announced an amendment.
18:21
Oh yeah, they're restating their fourth quarter results.
18:24
Yeah, we don't have, there's no problems in the banking sector.
18:27
Hi, who's that anyway? Shares of oh share of the stock
18:32
price only fell 25% yesterday. Almost seems like a precious
18:37
metal mining stock, doesn't it? I can say that cause I've been
18:42
through some bad days in precious metal mining stocks.
18:48
But the stocks at like, I don't know, I looked before I came on
18:50
like oh there it is 361. Hey boy, I tell you what
18:54
technology Look, it's been as high as oh, here we can look,
18:58
how would you like to own that stock?
19:01
Yeah, just back in July it was worth $13 and today it's a
19:06
$3.61. It's down like, I don't know,
19:10
80% that I rub. My heart goes out to anyone
19:13
who's lost their money in that stock.
19:16
But that tells us about what is going on right now in the
19:20
commercial real estate sector and how it can impact the
19:24
banking, the the banking sector, where there are stories about
19:28
some building in New York changing hands with a Canadian
19:31
pension fund. Did you hear that for one dollar
19:34
$1.00, nobody wants these commercial real estate
19:37
buildings? And you know, I was talking with
19:39
Ted this morning. He brought up a great point.
19:41
I've heard this many times as well.
19:43
You can't convert those into residential.
19:46
People say, oh, you can turn them into it.
19:47
No, the plumbing, the infrastructure, the electric is
19:51
completely different. It's like not cost effective to
19:55
to to turn a glass tower into a residential building.
19:59
We had a big mall right here by my house.
20:01
We used to take my daughter's there and they were little
20:02
Chesterfield Mall. And look, I live in a middle,
20:05
upper middle class part of Saint Louis.
20:08
This was a massive mall. Like every big store was in
20:12
there, you know, everything and it and it it basically fell to
20:15
the, I guess, retail apocalypse that occurred four or five years
20:19
ago. And I kept thinking, why don't
20:21
they just turn into residential And they are, but they're going
20:24
to level it first. So we got big problems in
20:26
commercial real estate that is going to lead to big, big
20:29
problems in the banking sector. The economic data, let's talk
20:35
about do you own a car? Hold on guys, let me come back
20:38
to you here. I bet you own a car, right?
20:42
If you own a car, don't think of it as an investment, don't think
20:46
of it as an asset, because it is not.
20:49
It is absolutely stunning what is going on in the auto
20:54
industry. Let me just read you some
20:56
statistics here real quick. Car repossessions are
20:59
skyrocketing. Car prices, on average, have
21:03
dropped by 14%. People are searching Google for
21:07
how to get rid of car loans more now.
21:10
It's like one of the top searches on Google like never
21:13
before. 40 million Americans are upside down on their car loans
21:20
right now. Upside down.
21:21
That means they owe more on the car than what the car is worth.
21:27
OK. Car prices across the border
21:29
crashing and the reason why, right, Because during the C19
21:34
crisis, people were bored and had money and wanted to go buy
21:38
cars. So they were paying exorbitant
21:40
amount. Remember when your car went up
21:42
in value three years ago? And I kept telling everybody,
21:45
you probably did too. Like guys, this is not going to
21:47
last. This is not going to last.
21:48
Well, it's not lasting. It's crashing right now and
21:52
you've got people and it's dirty.
21:54
What goes on in the car lending business, right?
21:57
Why you would ever loan somebody you know $70,000 / 8 years on a
22:04
on a Ford F-150 pickup truck. I mean you got guys and and I'm
22:09
not busting on Ford F-150 pickup trucks, but you got guys driving
22:12
around Ford F-150 pickup trucks that maybe are worth 30K right
22:17
now that they may owe like 50 or $55,000 on.
22:21
It's like a house payment and it's really sad, but it's also
22:25
right an indication car. They say car dealership lots are
22:29
filling up. I told you that mall they're
22:31
going to tear down. They use it as an overflow lot
22:33
for Tesla Tesla dealership and it's like it had like a
22:38
unbelievable amount of Tesla sitting around there.
22:41
Just remember, oh, you know, and I want to, I want to this is
22:44
something directly related to silver and gold and cars.
22:48
At the end of the day, cars are are functional for a little
22:51
while, but they reach the end of their useful life.
22:55
And then what happens to them? They get crunched up into little
22:57
balls, little metal balls, right, little metal, whatever.
23:01
Sections. At the end of the day, the only
23:04
thing that's really valuable out of an automobile after all that
23:08
utility is gone is the metal value for recycling purposes.
23:13
I know it's not silver, I know it's not gold, it's steel, maybe
23:16
aluminum, whatever. But none the less what does that
23:19
tell us about metal in general Metals, right.
23:23
They're valuable the exact that metal that that started out the
23:27
process of becoming a car is still valuable at the end.
23:31
But the only thing valuable at the at the at the end of the
23:34
process of that automobile's utility, it's it's the metal,
23:40
silver and gold, right. We, you know, we we talked
23:44
about, we we talked about this, you know that metal this right.
23:47
This American Silver Eagle, absolutely stunning.
23:53
Sorry. That came from Don.
23:57
Don. Don the brain.
23:59
Hey, you know the energy that went in to that metal will
24:03
always be there whether it was mine yesterday or mine 2000
24:08
years ago. Let's move on.
24:10
Oh, we got nuclear war to talk about, unfortunately.
24:14
And hey, while I'm at it, I need to say thanks.
24:16
Talk about metal. Thank you.
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To channel sponsor. Where are they?
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Thank you, guys. All right.
25:31
Thank you for that super chat. All right, hot dogs.
25:35
Who was that? Hold on a second.
25:36
I want to say thank you. Thank you.
25:38
Leanna. What?
25:39
Leanne, I'm sorry. I didn't mean to call you.
25:41
Leanne Trevino. Thank you for that super chat.
25:43
Nuclear war. Look, this is the nobody.
25:48
Nobody gives this enough credit when it comes to the value of
25:52
silver, the value of gold. We really don't.
25:55
There's a big, big factor, right?
25:59
I'll talk about Ted, right. Ted speaks one more time because
26:02
you know, we talked about yesterday the root, right, the
26:07
root cause, this battle between Keynesian and Austrian economics
26:12
in terms of silver and gold. Another root support factor for
26:17
precious metals is geopolitical uncertainty.
26:20
I mean, really, it's one of the core roots in my opinion, right?
26:23
People don't trust each other. They're not going to trust their
26:26
promises. And that's all paper money is.
26:28
Think about it. That's all that any form of Fiat
26:32
paper money is. I hate this stuff so much.
26:35
I don't even have any around here.
26:36
Here, This is a Ron buck. That's a Ron buck.
26:40
I'm too cheap. Yeah, I put a little print out
26:41
on the back. People don't trust each other's
26:46
promises. People do trust this.
26:48
Right here. Here's a piece of silver.
26:50
Quickly, Last piece I'll show you today.
26:53
That's a silver heart I bought for Susie.
26:55
OK. They do trust that.
26:57
And when the world has geopolitical strife and turmoil.
27:00
And do we have that? Oh, boy, do we have it.
27:03
OK, oh, boy, do we have it. Let's listen to what this is.
27:08
Let's. This is scary and not pleasant
27:11
to hear but you need to hear it. This comes about about with
27:15
Russia we have escalations again in Ukraine.
27:18
Vladimir Putin's equivalent, he spoke.
27:21
It is it is equivalent of the United States State of the Union
27:24
address and what he said is scary.
27:28
Making threats that we've not heard in months.
27:31
He put, he put the Russian strategic nuclear forces back on
27:37
full alert. OK, he's boasting about new
27:41
secret weapons that have been developed.
27:44
Some people think these could be nuclear bombs possibly, that are
27:48
that are shot down from space. I don't know.
27:51
But they're ready and they're being deployed right now.
27:55
All right, So I'm just giving you the news.
27:58
All right. He claims that NATO is about to
28:01
possibly launch an attack on Russia.
28:04
This talk about deployment of NATO troops, NATO troops into
28:08
Ukraine would be lead to tragic consequences.
28:12
Here I have a quote, he said everything that they that means
28:16
us, the West or our leaders quote UN quote, are coming up
28:20
with now with which they threaten the which which
28:23
threatens the entire world. All this really threatens a
28:27
conflict and the use of nuclear weapons and therefore the
28:34
destruction of civilization. Don't they understand this or
28:40
what? That's what he said, right?
28:42
Like, don't you guys get this? Like we don't really want to
28:44
blow the whole world up and I think most of you probably agree
28:48
with me. We don't really want to blow the
28:50
whole world up. No, he said quote, they must
28:53
ultimately understand that we also have Russian weapons.
28:57
The referring to the to the Russians and that they know
29:00
about it, just as I now said, we also have weapons that can hit
29:05
targets in their territory. All of this as we get news
29:10
yesterday that Ukrainian officials claimed to have shot
29:12
down three Russian jets and six additional Russian jets in the
29:17
last week. At the same time, the Ukrainians
29:20
are warning that they're running out of supplies and ammunition.
29:23
Of course, they need billions of dollars in aid from the United
29:27
States. Or they're saying that Russia
29:29
could take over Ukraine, possibly by summer.
29:34
Look, this is not a political show.
29:36
I'm not a geopolitical expert. I'm delivering to you what I
29:40
think is some very scary developments that are going on
29:44
just in Europe, just in the Ukraine, OK, we're going to
29:47
switch over to the Middle East next.
29:49
But this type of of uncertainty, I mean, this bifurcation that is
29:54
going on in the world, you know, look, we don't want silver and
29:58
gold to do well on the backs. We just know silver and gold are
30:02
God's money. That's the way I like to refer
30:04
to it. And then not religiously
30:06
speaking, it's the universe's money, It's the planet's money,
30:09
it's God's money, however you choose to look at it.
30:12
But it is what it is. It is finite.
30:14
It is finite. It is the the the timeless
30:18
universal store of value when when stuff happens and we don't
30:24
want it to happen, but it is happening.
30:26
So we need to be abreast of it, right?
30:29
We don't wanna be doomsayer tinfoil Hatters, but we do want
30:33
to be risk assessors. And when we assess the risk
30:37
that's in the world right now on a geopolitical level, it's
30:42
undeniable that having some of your assets and silver and gold
30:46
are a smart move. That's just my opinion.
30:49
Don't make any financial decisions based upon that.
30:51
And while we got that, I want to say thank you to our channel
30:55
sponsor Fortuna Silver Mines. We're going to hear their fourth
31:00
quarter in fiscal year 2023 earnings report this week.
31:04
I own a lot of the stock. I am not giving financial
31:07
advice, but I do own a lot of Fortuna Silver mines, so I will
31:12
be watching closely. It's a company I believed in for
31:15
years. Next up, we want to say thank
31:18
you to 1st Mining Gold. Actually have an interview with
31:22
Dan Wilton, the CEO of First Mining Gold that went out this
31:26
morning. You can go to the channel and
31:27
watch that as well. You can learn more about first
31:30
mining gold at firstmininggold.com.
31:34
They just have like 25 million ounce gold development stage
31:38
projects in Canada. And when we're talking about all
31:41
this geopolitical turmoil going on, jurisdiction matters where
31:45
the gold is like like we're big. If you don't hold it, you don't
31:48
own it type people, no doubt about it.
31:50
For me, if I am going to own a stock in a mining company that
31:53
has a bunch of gold in the ground, hey, I might as well
31:56
have it in Canada. What the heck?
31:59
What else is going on? Let's just get up to date on
32:01
what's going on in the Middle East.
32:03
The Jerusalem Post says that Iran has given a green light for
32:08
a regional war between Lebanon and Israel.
32:11
This could happen within 10 days.
32:14
Iran has apparently given Hezbollah the green light to
32:17
attack northern Israel if the Israelis going to Rafa.
32:21
I don't know all the details on this, but what this tells us is
32:24
that there's potential for a new front opening in the Middle East
32:29
conflict in northern Israel. We'll pray for the safety and
32:32
security of everyone involved and hope that we can find some
32:36
peaceful resolution in this world.
32:39
But unfortunately we can't control that.
32:42
So we want to protect ourselves, protect our assets.
32:46
One more quick thing here, I want to talk about Goldman
32:48
Sachs. You think things are bad out
32:50
there? Listen to this.
32:51
The CEO of Goldman Sachs announced.
32:53
People living paycheck to paycheck are cutting back even
32:57
more. You think so?
32:58
Huh. The lower part of the economy is
33:01
softer, much less purchasing power than four years ago.
33:06
Why? Because of inflation.
33:09
Go figure. Right?
33:10
Inflation. The hidden tax on you and me,
33:15
right? Average, everyday Americans.
33:18
The hidden tax, right. They didn't want to raise taxes
33:21
on the wealthy. Hello.
33:27
Morning for cowbell. OK, took her a little while.
33:33
I just dropped you, Susie. No more talking.
33:37
OK, I'll do the cowbell here in a second.
33:38
Inflation is a hidden tax, right?
33:40
The government could have raised taxes on the wealthy.
33:42
No, they didn't want to do that. They decided to print money,
33:45
which makes all the assets that the wealthy own stocks, real
33:49
estate, things like that go up, up, up in value.
33:52
So the wealthy aren't feeling the the effects, the pain of
33:54
this. But when they print all that
33:56
money, right, that dilutes the currency that creates inflation
34:00
and the average everyday American.
34:03
Yes, that's who pays the price. Absolutely.
34:06
OK, let me ring the cowbell. I believe we got the 200 thumbs
34:10
up. I can't see it on this new, this
34:13
new platform. All right, guys, thank you for
34:21
being here today. Thank you for being part of the
34:24
basement. It's going to be crazy for us to
34:27
watch and see how things play out in the coming months and
34:32
quarters. We are going into this period.
34:35
I mean the bank term funding program is ending, right?
34:38
We could have banking chaos going on, right?
34:42
The reverse repo program which has been nothing but Stealth QE
34:47
is running out of money, OK. A lot of that money was used to
34:52
to kind of subsidized what what has been going on for the last
34:55
year, year and a half, it is dropping, dropping, dropping
35:00
from like almost 3 trillion down to less than 500 billion.
35:05
Right now we have all this uncertainty in the world.
35:11
I mean, we didn't even talk about China and Taiwan.
35:14
It's a big, big, big deal. And and just domestically in the
35:20
United States this big election year, I don't, I mean we could
35:24
see some serious fireworks on a social level, on a political
35:29
level, who knows. I mean it's just absolutely
35:33
crazy what we're heading into. You know, that's why we we run
35:38
to the safety. You know, what are the Chinese
35:42
doing? All right.
35:43
They they say winter is coming in China.
35:46
That's what they're common saying is right now people are
35:49
running to gold and I'm sure silver as well, right.
35:54
And we saw what happened yesterday.
35:57
Gold, let's be happy. Let's have a little party
36:00
basement dwellers gold on the COMEX.
36:04
The spot price closed. If I have this correctly, 2080
36:09
per oz, OK, I think it was a all time weekly closing high, all
36:16
time high. Somebody correct me on that if
36:18
I'm wrong. You know, silver is lagging.
36:21
Remember the silver to gold ratio is now stretched again to
36:26
90, right? All that energy, think of it
36:29
like a bungee cord getting stretched out, you know, going
36:32
to fly back. I mean you know gold is primed
36:37
and gold will lead the way and silver will follow.
36:41
There's absolutely no doubt about it.
36:44
I was talking with Dan Wilton briefly last night, the CEO of
36:48
first mining gold, right. And we were we were he was like
36:50
yeah he was the one that that that that informed me that this
36:54
would be an all time record weekly close for gold if it held
36:58
above it may or may not what a little bit.
37:11
All right. Well you I'll ask the I'll ask
37:14
the Cruz Susie's asking me if if the old gold bear.
37:18
There he is right there. OK you guys know the story
37:21
right. He's blindfolded.
37:24
I discovered that he was the gold bear responsible for the
37:27
bear market and gold that we had.
37:29
And I'd say the bear market's almost over.
37:32
But when we get to 2500, we are going to take off his blindfold.
37:37
And yes, Peter Grandich claims he's coming to Saint Louis to do
37:40
it. But do you want me to get the
37:42
bear just for a few minutes, have a little peek with his eye?
37:46
You can put that in the comments.
37:47
And if we get a couple people that say yes, then we'll do it.
37:50
OK, Susie, hold on. I got to.
37:52
I got to climb down here and get Susie's walkie talk.
37:55
There it is. I dropped Susie.
38:00
I dropped Susie on the floor. Where was I?
38:05
It's some very profound thing to say about silver and gold.
38:09
Darn it. Yeah.
38:10
You know what it's like to be 50 years old.
38:12
Right, 54. I'm like an old man here.
38:16
Huh. No.
38:17
Is this is this year plays out. I don't just.
38:21
Oh, I was talking with Dan Wilton.
38:24
Right. And we talked about the.
38:25
Oh, here. Yeah.
38:26
This is it. I forever remember what I think
38:32
people say. No, no.
38:32
OK All right. Everybody's got it.
38:36
OK. We're not, we are not.
38:38
Sorry, Gold Bear, you are not going to get the peak even with
38:41
one eye. The situation is right now in
38:46
the gold market. OK, think about this.
38:48
Think about this. We're almost to 2100.
38:51
What do you say? Let's get 2100 tomorrow night.
38:54
I'm ready. You're ready.
38:55
Silver is primed. We know that.
38:57
But there are no people, right? And Dan and I talked about this.
39:02
There are no people out there that are holding gold at any
39:07
price above 2100. Very few people 'cause it only
39:11
went above that for like an hour that Sunday night, right?
39:14
So it's not like there's millions of people that bought
39:17
gold at 2150 or 2200 or 20. There's nobody up there.
39:23
Once we get above 2100 and stay there for a little while,
39:28
there's no resistance. That's called overhead
39:30
resistance. There's not a big pile of people
39:34
that are sitting in their basement in Saint Louis saying,
39:36
oh, I bought gold for $2200 and if it ever gets back there
39:40
again, I'm going to sell. No, all those people were people
39:45
that that that over the last couple years said if gold ever
39:48
gets back to 1900 or if gold ever gets back to 2000 or 2050,
39:55
then I'm going to sell. Those people have all sold,
39:58
right? So now there's a whole new group
40:00
of people and we've built a base baby.
40:04
Base, base, you got to love base, right?
40:06
We built a solid base of people that have come in and purchased
40:12
around 2000 that are going to be strong hands.
40:16
I'm telling you, you know, look, we know I'm not going to lie to
40:20
you, there's a possibility, There's always that possibility.
40:24
A month from now, next week, you know, two months from now, I
40:29
could be sitting down here with that big sad look on my face
40:31
saying, well, you know, we're got gold at, we got gold at at
40:37
at 1700 or 1800. I don't think that's going to
40:40
happen, OK? I really don't look at what's
40:44
going on in the world, Look at what's going on in the United
40:47
States. Look at the numbers, for crying
40:49
out loud, right. It just doesn't.
40:51
It, it, it, it, it, it. I see much higher prices for
40:57
gold and silver and I look forward to celebrating it with
41:00
you, you know, not because I want we want to say we're right,
41:04
we're right, but because we know right.
41:06
We have been fighting a very tough battle for the last few
41:11
years, some of us for decades. I can raise my hand on that one,
41:15
right. We know in particular if you're
41:17
invested in the precious metal mining stocks, the sentiment has
41:21
just absolutely never been worse.
41:24
It's really interesting. Think about this.
41:27
Think about this. This is crazy about what's going
41:29
on in the precious metals sector right now.
41:32
We got gold. OK, it literally, I I don't want
41:36
to be crude. I usually say a stone's throw
41:39
from a new all time high. But now we've moved into a a
41:43
spitting distance. I mean we're right there.
41:46
OK? Gold's like basically you can
41:50
almost say at all time high territory it is, right?
41:54
But at the same time, sentiment for physical gold in the West is
42:01
horrible still. OK, hold on one second.
42:03
This is crazy. This sentiment for gold in the
42:11
world is very, very, very good right now.
42:14
Right? The Chinese, the Indians, the
42:16
world central banks. You've heard that a few zillion
42:19
Times Now, haven't you? So it is good for gold
42:23
elsewhere, but in the West, in the United States and Europe,
42:27
sentiment for physical gold is horrible.
42:30
OK, sentiment for silver and the silver price is absolutely
42:37
horrific. OK, horrible on a A to F scale.
42:42
I give it AD minus. All right sentiment also.
42:45
So you got gold sentiment only good in the East, basically bad
42:51
in the West. Silver's just bad price
42:53
everything else OK And the precious metal mining stocks,
42:57
well they're like and this is nothing to do with the
43:00
performance of the companies cause many of them are like
43:03
really doing great and and and being very responsible.
43:06
But the market sentiment toward them is enough.
43:10
OK. So we're in this crate now this
43:13
is the good news. We're going to have some good
43:16
news. Precious metals investors, if
43:18
any of those 3 categories, or all three of them even just
43:23
improve a tiny little bit. Doesn't have to go.
43:27
Doesn't Rick Rule says right. Right when he talked to you, I
43:30
heard him say this about silver. Silver doesn't have to be loved.
43:33
It just has to be a little less hated and it will have a massive
43:38
move. Precious metal mining stocks a
43:41
little less hated. Massive move gold in the West,
43:45
right? People are draining gold out of
43:48
the ETFs. That's one of the biggest ways
43:50
to measure investor sentiment here in the West.
43:53
Just a small, little improvement.
43:57
Big move. We can have big, big, big moves.
44:00
Look, don't make any financial decisions, babe.
44:02
I'm giving you my truth. Listen to other people.
44:06
Listen to yourself. But you know, how do I say this?
44:10
Sometimes there's a saying from the mud grows flowers right.
44:16
Sometimes it it it it, well, I guess, you know, like basically
44:20
it could it get worse? Yes, it could get worse.
44:23
This sentiment. It could.
44:25
It's going to be a heck of a lot easier.
44:27
That's the good news. A heck of a lot easier.
44:31
You can only wind up the the the, the clock so much.
44:36
All right. You can't keep.
44:37
I mean, there's only some, there's there's much more room
44:41
for improvement, way more room the path of least resistance
44:45
than there is for things to get tougher.
44:47
Hey, thanks guys, for joining me.
44:48
Don't forget we'll be back on tomorrow, Sunday at 10:00 AM
44:51
Central time with our friend Ted.
44:53
Thank you for this. Oh, thank you to all the
44:55
moderators for being here. Everybody, please, I'm going to
44:59
do it. Let's type 888888 for those that
45:04
moderate because our moderators are great, right.
45:07
Keeping the the chat going and and providing a great service to
45:12
the basement. Thank you guys.
45:13
OK and I will see you tomorrow. Hold on.