Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨SILVER & GOLD🚨 All ROADS lead to TROUBLE - (Inflation, Money Printing, National Debt and Chaos!)

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🚨SILVER & GOLD🚨 All ROADS lead to TROUBLE - (Inflation, Money Printing, National Debt and Chaos!) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:04
Welcome to the live stream. Welcome to the basement.
0:07
We've got a lot to talk about today.
0:09
If you're not scared to death by the end of this video, well then
0:13
I can't help you. You're in the wrong place.
0:15
But if you're not also very happy that you've decided to put
0:20
part of your assets into silver, gold, possibly precious metal
0:23
mining stocks, well then I can't help you either because we got a
0:27
lot to be scared about. We're going to talk about in
0:30
real simple terms. You ever get confused?
0:33
I do, right? All the news, all the noise,
0:36
interest rates, the Fed monetary policy, inflation numbers,
0:40
employment numbers, it all can get really overwhelming even for
0:44
the smartest people out there. Look, nobody can kind of distill
0:48
all this information into one easily to consume presentation,
0:54
but I'm going to try and I will do that for you today because I
0:57
think it's important for us to look at the big simple factors,
1:01
what's going on with the Fed, What's the easy way to think
1:05
about this and look at this and how will that impact the price
1:09
of silver and gold, platinum? That's what we're interested in.
1:13
So guys, let's get started. First, I want to say today's
1:16
June 14th. I designated this as
1:18
International Women's Silver Stacking Day.
1:22
So welcome to all of our women who've been joining the silver
1:26
and gold stacking community over the last number of years.
1:29
I've seen it myself on my channel and I've talked to
1:32
people that are selling bullion. It just feels like there are
1:35
more and more women joining the ranks of silver stackers because
1:40
women are smart and women want to protect their families just
1:44
like us guys do. So hey, welcome and let's
1:48
celebrate all the women today, people like Lynette Zhang,
1:50
Danielle Cambodi that have been contributing to the silver and
1:55
gold community for decades. OK, so let's talk about another
2:00
woman, Janet Yellen. Let's start out with her
2:03
unbelievable what Janet Yellen said.
2:06
You're not going to believe this.
2:07
And this is going to set the stage for a very important
2:10
conversation. We're going to have a simple
2:13
conversation about what's going on with interest rates in this
2:17
country, inflation rates and what it really, really means for
2:20
the silver and gold price. But here we are, our good friend
2:25
Janet Yellen from CNBC. Treasury Secretary Yellen says
2:30
the US debt load is in, quote, a reasonable place if it remains
2:36
at this level. Can you believe?
2:37
And I won't even, I won't even torture you with that video
2:41
there. But Can you believe that she
2:43
even had the gall to say that? Treasury Secretary Janet Yellen
2:47
on Thursday said the swelling national debt is manageable as
2:50
long as it stays around where it is.
2:53
OK, what do we know? We know that it's not staying
2:56
where it is. We know that the government
2:58
continues to spend way more money than it brings in.
3:02
So right there, right? Her premise was wrong to begin
3:06
with. It is a huge problem right now.
3:08
But on top of that, the debt is continuing to grow, and it's
3:12
gonna create massive problems. Guys, this is bad news, OK?
3:17
This is serious business. And when the people, not Janet
3:20
Yellen, 'cause, you know, she's asleep.
3:22
But when other mainstream media outlets are starting to pick up
3:26
on just how how crazy this is, we know that it is becoming a
3:32
serious problem. You know what?
3:33
Let's run out and take a look at the silver and gold price.
3:35
We forgot to do that this morning.
3:37
Hey, you know what? We deserve a little bit of
3:40
celebration, and we better do this before things change.
3:43
We know how it's been lately. But look, gold's up $26.74,
3:46
2003, $130.00 per oz. Silver above 29 at $29.20.
3:55
Let's take a look at these charts.
3:57
And then guys, like I promised you, I'm gonna give you some, I
4:00
think really great news as a silver and gold investor, really
4:04
scary news is an average U.S. citizen.
4:08
But the fact that you are invested in silver and gold can
4:12
work to your benefit. Let's take a look at the chart
4:15
here. I wanted to look at the
4:17
everybody's talking about how critical, how absolutely
4:21
critical the the silver price staying above about 2850 per oz.
4:28
And let's go out here. Let's look at a one year chart
4:30
and I'll show you why they're saying that because we've got
4:33
this upper as you can see my my little yellow finger on the
4:37
screen. We have an upward trend line OK,
4:41
and this is called a flag. I don't know, I'm not into
4:44
super, not deep into technical analysis, but it's called the
4:46
flag pattern. And as long as we can stay above
4:49
2850 per oz, apparently we are in good shape.
4:52
Look at gold. Wow.
4:54
Let's take a look at the long just for kicks here guys, let's
4:57
look at a 30 year chart of gold. Whoop, there's the cup, there's
5:00
the handle and continuing upward this right now it's telling us
5:04
we're up $29.08 per oz. I think that we need to update
5:08
that, but still, yeah. And silver up 29.
5:14
So hey, we'll take it, right? It's been a rough couple weeks,
5:18
but remember, there's always going to be consolidation within
5:22
the gold. It's not going to be a straight
5:24
up ride. The important part is,
5:25
especially in particular for silver, is that we do stay above
5:30
this 2850. I'd like to see us stay above
5:33
$29.00 per oz. So Janet Yellen's telling us not
5:36
to worry about the debt. You know what, let's go out and
5:39
take a look and we're going to go.
5:41
I'm going to take you out to the US debt clock.
5:43
Let's just make sure that Janet Yellen is correct in what she's
5:48
saying here. We don't have to worry about
5:53
this. OK, Janet.
5:57
We're getting there, guys. We're almost to $35 trillion in
6:02
national debt. Only 267 will round up $1000 per
6:08
US taxpayer. And we're paying, what, over a
6:11
trillion in interest now? I mean it, it's unbelievable.
6:15
I think we're paying more in interest per year than we are on
6:19
the National Defense budget. But she's saying don't worry
6:21
about it. It's not a problem.
6:22
It's not a problem. It is a massive problem and the
6:26
world knows it's an A massive problem.
6:28
And we're going to, you're going to see why it's so important
6:31
here in just one second because it is confusing, right?
6:34
Big week inflation numbers came out, inflation was down.
6:38
Let me just explain. Maybe This is why you're a
6:41
little confused why people get a little confused trying, trying
6:44
to discern all of this information coming at us.
6:48
Inflation was down. That should have been really
6:51
good for gold and silver, right? But at the same time, we know
6:55
that in the long run, what really matters to gold and
6:58
silver is devaluation of currency.
7:01
And what is devaluation of currency?
7:03
That is inflation. So everything has been kind of
7:07
turned upside down. And then on top of that, we're
7:10
getting news out of the Fed that they may not lower interest
7:13
rates. I'm going to make it real simple
7:14
for you and I'm going to do that right now.
7:17
It's important that we look at this from a real simple
7:21
perspective because we get hit with a lot of noise, OK, What
7:26
really matters, The only thing as a silver and gold investor
7:30
that really matters is inflation.
7:32
Inflation by its definition is devaluation of the currency.
7:38
In most of our cases, that would be the US dollar.
7:40
Most of you are joining me from the United States right as the
7:44
dollar goes down in value, which it has a very solid track record
7:48
of doing right over the last however many years.
7:51
You want to look at five years, 10 years, 2050 years.
7:55
And since 1971 when Nixon temporarily took us off the gold
7:59
standard, that's all that matters in the long run to the
8:03
silver and gold price. Now bear that in mind as our
8:07
country sits here with a record amount of debt.
8:10
So as we move forward, we're going to talk about the Fed
8:13
here. We're going to keep it real
8:15
simple, right? Everybody's expecting the Fed to
8:19
cut rates. Now, I said a few months back
8:21
that I didn't think the Fed would cut rates, OK?
8:23
And I kind of backed off from that a little bit.
8:26
But when you think about the Fed cutting rates, all right, think
8:30
about this, if the Fed cuts interest rates #1 we're going to
8:34
have massive, massive uptick in inflation.
8:38
Inflation's already a problem in this country, OK?
8:42
If they cut rates, if they make monetary policy easier, the
8:47
other thing that happens, remember that all that debt we
8:50
just looked at, I want you to think about this.
8:52
We have 35 trillion in debt. I don't know, 10-7 trillion of
8:56
it needs to be refinanced in the next.
8:58
However much it is, a lot of it needs to be rolled over.
9:01
We need people to buy our debt if we lower interest rates, Keep
9:07
it real simple, right? If the rates lower in the world
9:11
is already selling our debt, they don't want to buy our debt.
9:16
China does not want to buy our debt.
9:18
You know, Russia doesn't want to buy our debt because we seized
9:21
it from them. But the world is selling U.S.
9:23
Treasuries. If the rates go lower on these
9:26
treasuries, nobody's gonna want them.
9:29
OK, Nobody's going to want them. So what is the end result of
9:33
that? Right.
9:34
Then who's the buyer of last resort?
9:37
It's the Fed, right? Nobody wants to buy the debt at
9:40
the low rate. So the Fed says, well, OK, I
9:42
guess we'll step in. And what are they gonna do?
9:44
They'll create money out of nothing.
9:47
They'll print money, OK That's option #1 if they lower rates,
9:52
real simple, the only person who's going to be able to buy or
9:55
want to buy the debt of the United States will be the Fed,
10:00
OK? And when they print money,
10:02
right, that creates more dollars.
10:04
That makes the value of the dollar go down, and that makes
10:07
the price of gold and silver go up.
10:09
So that's option number one, right?
10:11
We lower rates, which everyone's clamoring for Wall Street.
10:15
You know, I'm sure the current administration is pushing on the
10:18
Fed to lower rates 'cause it'll, it'll make everything look rosy
10:22
temporarily right before an election.
10:25
But what's the other option? What if they don't lower rates?
10:28
What if they can't lower rates? Because they know, like I just
10:31
said, right, nobody wants to buy the debt.
10:34
They know inflation's going to take off.
10:35
So maybe they keep rates where they are or even possibly raise
10:41
rates. And that's what I was talking
10:42
about with you a few months ago. If inflation continues to be
10:46
strong, right, continues to take off and even overtakes the
10:50
rates, it's not gonna matter. It's still good for gold and
10:53
silver. But if they don't, I got got off
10:56
track with you there for a second.
10:58
If they do raise rates or they even leave rates the way they
11:02
are, that creates massive, massive stress in the economy.
11:08
It it creates stress for the government, right, because
11:12
interest expenses already on that 35 trillion.
11:15
If rates go up or even stay where they are, the government,
11:18
their interest expense is going to it's untenable.
11:21
It doesn't work. Corporate debt, the rates go up.
11:24
It eats away at profits of the big companies that have borrowed
11:28
and borrowed. And they also need to refinance
11:31
all that debt that makes the stock market go down.
11:34
And what about everyday average people like you and me, right?
11:37
If rates continue to go up, the real estate, the residential
11:40
real estate market is kind of frozen right now anyway.
11:43
It goes down. So what happens then?
11:46
Everything crashes and the Fed prints.
11:48
Do you see where this leads Both.
11:51
Both options, lowering rates or raising rates lead to the same
11:57
eventual end result. The Fed's in trouble.
12:00
The Fed's in a box. Jerome Powell is scared to
12:03
death, OK? They know his press conference.
12:07
He's not talking about what's really, really going on.
12:10
I heard the smart people in the room say that, right?
12:12
He's scared right now. And in the end, whether it's
12:16
three months, two years, a year from now, the only thing they're
12:20
going to be able to do is print money.
12:21
And that will be good for good. Gold and silver.
12:25
OK, the Fed printing money. Let's now let's go on to the
12:28
next big hot subject going on right now.
12:31
All these, all these people talking about how the Petro
12:34
dollar and this plays into it as well.
12:36
Hey, thank you, Ron McAdams for the Super chat bright and early.
12:40
Thank you so much, guys. Thank you for your support.
12:43
OK, that's awesome. I want to talk about the Petro
12:45
dollar in super simple terms because as all this is going on,
12:50
the screwed up monetary situation on a geopolitical
12:54
level, on a worldwide economic monetary system level, we've got
12:58
more bad news coming our way because of the Petro dollar.
13:02
But first, let's go say thank you, the channel sponsor Pinbex,
13:06
and let's do a quick check on the silver and gold price.
13:09
And hey, we're still up a quarter almost in silver, 2919
13:13
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Compare what they can do for you with other options that are out
14:02
there. Let's talk about in simple
14:04
terms, the Petro dollar. I know, I understand the whole
14:07
idea of the Petro dollar. Number one, most people have no
14:12
clue what it even means, and that's OK.
14:14
It just in simple terms, it meant that all oil in the world
14:18
was traded in U.S. dollars. It started in the mid 70s.
14:22
It happened coincidentally. Do you find it curious that it
14:25
occurred just subsequent to when Nixon took the United States off
14:31
the gold standard? It basically we took the dollar
14:33
from being backed by gold to being making it some pseudo kind
14:38
of backed by oil. When we forced the world to use
14:41
U.S. dollars to buy oil, it created huge demand for the US
14:47
dollar. OK, what happens when there's
14:50
huge demand for anything? Watermelons, potatoes, cars,
14:55
yen, euro, dollar, no matter what it is, when there's huge
14:59
demand for anything, it makes the value go up.
15:02
It makes the the price go up, the value.
15:07
So for decades, as we were the world superpower, right?
15:11
And we still are technically, although we're fading, right?
15:14
We had this, this benefit of having the world using our
15:19
currency. We could use the dollar as a
15:21
weapon, right? It went on for decades and
15:24
decades, real simple. But because the world needed
15:27
dollars to buy oil, it kept the dollar valuable.
15:31
Now remember, this is about silver and gold, right?
15:34
Because the more valuable the dollar is it when you measure
15:39
the value, the price of silver and gold in dollars, that kept
15:43
the the value measured in dollars of silver and gold
15:47
subdued for decades and decades, right?
15:50
People spent their careers researching this, proving this.
15:54
Now that's all starting to change.
15:57
Now, there's some reports that on June 9th, I mean, there's not
16:00
an official, official announcement as of yet, but but
16:05
what we do know is that the world is explicitly moving away
16:10
from the Petro dollar. So what does that mean?
16:13
That means China is maybe now buying oil using their own
16:18
currency, the yuan in allowing Russia or allowing Saudi Arabia
16:22
to then immediately convert that yuan into, yes, gold on the
16:27
Shanghai Gold Exchange or possibly silver as well.
16:31
OK, so as the world in the, and we're going to talk about the
16:35
BRICS, we got big breaking news about the BRICS countries as
16:38
well. But as the world through the
16:41
BRICS, through new alliances is moving away from using the
16:45
dollar, that means there's not as much demand for the dollar.
16:49
And remember what we talked about earlier, when there's less
16:52
demand for anything, the value goes down, right?
16:56
People don't have, pardon, pardon me, people don't have a,
17:03
a need for as many dollars. The demand for dollars goes
17:07
down, the value for dollars goes down.
17:10
So that's a simple way to look at what's going on with the
17:14
Petro dollar and how it can and is and will continue to affect
17:19
the price of silver and gold. It is a big deal, right?
17:23
Saudi Arabia is forging alliances with China, with
17:29
Russia, with Iran, with the other BRICS countries.
17:32
And this news out of the BRICS, we don't even know.
17:35
I mean, it's crazy. Hold on one second.
17:37
Have a sip of coffee with me. If you're an average American
17:52
like me, right? And you're, you're exceptional
17:56
because you do dig in. You do like dig into what's
17:59
going on in the world. You had no idea that there was
18:01
just a big massive bricks meeting right in Russia, in
18:06
Russia. Remember, Russia's the enemy,
18:09
but all the BRICS countries went to Russia to have a big, big
18:13
meeting and we're going to talk about that next.
18:15
But I want to say thank you right now to our channel
18:18
sponsor, First Mining Gold, Canadian gold development
18:20
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they either own outright or are partnered on that are also in
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Canada. Gold in the ground in Canada.
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And our friends at Fortuna Silver, Silver Miner, they have
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a silver mine in Mexico, They have a silver mine in Peru.
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They have a gold mine in Argentina, They have a big gold
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mine in Burkina Faso and an even bigger gold mine in the Ivory
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Coast and an exciting exploration stage development
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stage project going on right now in Senegal, the Dianba Sood
19:00
project. So thank you to our channel
19:02
sponsors. They make this possible.
19:04
It's a big honor for me to have them supporting the channel and
19:08
allowing us to get together here on a daily basis.
19:11
This would not be possible without the sponsors.
19:13
As a matter of fact, it's so early.
19:16
Susie's still sleeping. I think I hear her stirring
19:18
upstairs. She may join us here in a
19:20
minute. She's a stacker silver Susie.
19:23
Hey, let's talk about, we're going to talk about the bricks,
19:25
but let's talk about the women coming into the silver stacking,
19:29
the gold stacking community. It is a big deal because it's
19:33
really an untapped source of new stackers.
19:38
And we welcome everyone in the number of women that are
19:41
watching my channel, the number of, of, of women who are buying
19:46
gold, buying silver to protect their families is increasing.
19:49
And you know, let's face it, guys and a lot of households,
19:52
the women make a lot of the big purchasing decisions.
19:55
I've talked to Coin Chop Chris, I've heard talk to the guys at
19:58
Pinbex. You know, we're seeing some more
20:01
women coming, more and more women coming into the stacking
20:04
community. Today, June 14th, I'll repeat,
20:07
is international women's silver stacking day as designated by
20:12
Ron from Ron's basement. Spread it all around the
20:15
Internet. Let's get more and more women
20:18
and men right and whoever else to to join us as gold and silver
20:24
stackers. But.
20:26
If you're a normal American, right, watching CNN, watching,
20:30
you had no idea this is massive news that went on this BRICS
20:34
meeting, and you're gonna be shocked when you hear how many
20:37
countries now are saying that they're interested in joining
20:42
the BRICS, OK? They all met June 10th and 11th
20:46
in Russia. The meeting was to listen to
20:48
this. What does this make you think
20:50
the the meeting was to, to discuss economic and political
20:54
cooperation. Now, this is where it gets
20:56
interesting, 'cause I think there's some disinformation and
20:59
I may, I have to admit, make a confession.
21:02
I may be guilty of this as well. But if you read the text of what
21:06
they're talking about, they still, they said this, they
21:10
still believe in the United Nations, OK?
21:15
And they want to cooperate with the G20 economies.
21:20
Those are the big Western economies, OK?
21:23
They say the West is who wants to divide the world, not the
21:27
BRICS. I mean, you know, that's a
21:30
pretty strong statement, right? These BRICS countries that are
21:32
moving to their own system. They're like, we don't really, I
21:36
think what they're saying is we don't really want to have to do
21:38
this guys. But you're kind of forcing us,
21:41
OK? They, they also during these
21:44
meetings, the BRICS countries, they inked over 75 billion, I'm
21:49
sorry, dollars worth of deals between the countries.
21:53
This is where it gets, it's unbelievable.
21:55
Right now, the BRICS countries, Brazil, Russia, India, China,
22:00
South Africa, Iran, Saudi Arabia, Egypt, Ethiopia and the
22:04
United Arab Emirates, not the United States of America.
22:08
There's ten of them, right? They announced and I've heard
22:11
two different numbers. We'll start with the low #1
22:14
number I saw was 4040 additional countries want to join the
22:19
BRICS. And I also heard a reputable
22:22
report that the number of countries, that is 59 countries
22:27
want to join the BRICS. Remember these countries,
22:31
they're saying, hey, we're willing to work with you where
22:34
we want World Peace. They are.
22:35
They're all about cooperation. They're all about helping.
22:39
What they're basically saying is the Western countries are kind
22:42
of colonial in their ways, kind of suppressive in their ways.
22:46
So the BRICS countries are saying fine, you know what, we
22:50
will de de dollarize. Remember what we just talked
22:53
about with the Petro dollar guys, The idea that this is
22:57
gonna could happen overnight. It could, right?
23:00
I'm gonna talk tomorrow about the Sandman.
23:02
What's it called? Project Sandman, which is this
23:06
theory or speculation that it could happen overnight, that
23:11
they could all say, you know, the dollar could be forced to
23:13
crash, but the reality is it's happening slowly, right?
23:18
But as it happens, it's like, I think Andy Scheckman says, it's
23:22
like when you chop down a tree with an axe, you hit it, you hit
23:25
it, you hit it, you hit it, and then eventually the thing falls
23:28
over. But they're moving away from the
23:31
dollar and they're working on cooperation amongst themselves
23:36
instead of having to buy, you know, if, if, if, if Egypt wants
23:41
to buy something from China, instead of needing to buy
23:45
dollars to complete that transaction, now they're just
23:49
working directly with one another.
23:51
That reduces the demand for the dollar.
23:55
What happens when the demand for anything goes down?
23:59
Demand for anything, right If, if there's a bumper crap of
24:02
watermelons this year, I guarantee you at the grocery
24:04
store, watermelons will be cheaper.
24:07
Well, not with the inflation we're having, but relatively
24:10
cheaper than they were the year before.
24:12
Right? If, if the demand for dollars
24:15
goes down, let's look out a year from now.
24:18
Let's look out two, 5-6 years from now.
24:20
If the demand for the dollar goes down, the value of the
24:24
dollar goes down in real terms in the price.
24:28
The value in real terms of things like silver and gold will
24:33
continue to go up. OK.
24:35
They're talking about these bricks.
24:36
I mean, nobody's, nobody's in. That was not on.
24:40
It was not mainstream news in the United States.
24:42
It's like secret. This is like a like we're
24:44
talking about something, you know, that we're not supposed to
24:47
be talking about. But they had a big bricks
24:49
meeting in Russia in June. But guess what, they've got the
24:54
big, big meeting coming up in like mid to late October.
24:57
I think it's October 22nd. These countries are all going to
25:01
Russia and they're all talking about they're all talking about
25:05
how they want to cooperate. I mean, go figure.
25:10
They're all talking about how they actually even would want to
25:12
cooperate with the Western world, but the Western world
25:15
doesn't want to cooperate with them.
25:17
So it's a it's an interesting situation.
25:20
Let's go take a look. This is this is not funny.
25:25
But hold on here. Where'd it go?
25:37
That's not it. Oh, here we go.
25:41
Sorry, guys. Make sure you can see this.
25:44
Yes, you can. OK.
25:47
This is a picture of the bricks leaders.
25:51
OK, this this report says 30 countries, right?
25:55
I'm hearing 304059 Hard to it's hard to say, but a lot of
25:59
countries want to join the BRICS and I'm sorry, but that picture
26:03
looks like pretty serious, pretty professional group of
26:09
people. I hate to say this, right, but
26:12
here's a picture of the recent, what, G7?
26:15
And somebody was a little smarty pants here, but this guy's an
26:19
unelected Eurocrat. I don't know who he is.
26:21
This guy just lost an election. I think he's the German.
26:24
This is the Canadian, right? Fifty year low poll numbers.
26:29
This is the guy from France. He just lost the election,
26:32
right? There's been a big wave of of
26:34
Conservative leaders taking over this guy.
26:38
We all know who he is. It says he's too, too senile to
26:42
stand trial. I mean, let's not forget about
26:45
that. That was what, six weeks ago?
26:47
No, we can't prosecute him because he's too old and feeble.
26:50
But he's just fine to be the to be the the president of the
26:54
United States. I think this is the Japanese
26:57
president. He has a whopping 26% approval
27:00
rating. This is the British what Prime
27:03
Minister about to lose an election and another unelected
27:07
bureaucrat. So that's what we're dealing
27:08
with when we're dealing with the bricks.
27:11
And I don't like this, right? I'm an American versus the West.
27:15
It's not a pretty picture at all, OK?
27:21
Not a pretty picture at all. They said here few more quick
27:26
things and then we're going to go on more to focus on a little
27:28
more about the gold and silver and what's going on in the world
27:32
with gold and silver right now. But they said it's an absolute.
27:35
The bricks did say it's an absolute priority to cut ties
27:39
with the US dollar and use their own native currencies.
27:44
OK, We talked about the demand for the dollar going down.
27:47
I won't hit you with that again. 59 countries plan to join the
27:50
BRICS, but many countries on top of joining the BRICS guys are
27:55
joining the Shanghai Cooperation Organization, the SCO, that's
28:00
like a, an Asian cooperation organization where they're
28:04
working together again outside of the US dollar.
28:07
And another organization called the EUR Asian Economic Union.
28:12
Next meeting slated to be out in October.
28:16
The value of silver and gold, right?
28:18
The value even of oil most likely is now starting more and
28:24
more, more and more to be determined in the east.
28:28
Now I got some bad news for you. Let's go take a look.
28:31
Let's go take a look at the overnight and not horrible news
28:35
by any stretch of the imagination, but our good friend
28:38
the Oriental Ghost. Look, the price of silver, Oh my
28:43
gosh, on the Shanghai Gold Exchange dropped below $33.00 an
28:47
ounce, $32.77 Shanghai Futures Exchange silvers at 3288.
28:55
And here in the United States, we'll go to our friends at Pen
28:58
Backs. Hey, silver's up 29 cents 2924
29:04
so about, you know, 292475, let's say about $3.50 still over
29:12
a 10% premium. Those the Shanghai Gold Exchange
29:17
vaults, OK, we're up OK, and we know the Shanghai future
29:22
Exchange vaults. All right, this at the level
29:25
here, 22,000 kilograms very, very low right now.
29:29
So the, the, the value of silver and gold is more and more being
29:34
determined in the East in China. OK, let's take a look at this.
29:39
This is this is crazy. This this shows us from our
29:44
friends at Gold Star. Our friend John little right is
29:47
behind all this. This is the Gold Star gold
29:50
market sub stack. You can see up in the up in the
29:54
up in the the line. What it's whatever that's called
29:56
the right here, whatever that's called the gold market sub
30:01
stack. Sorry, I'm 54 years old.
30:03
I don't know all these technical terms.
30:04
Membership has its privileges. OK, so we're going to zoom
30:08
through this, a complete list. These are the guys that are that
30:11
are setting the price of silver and gold more and more in the
30:14
world. Complete list of Shanghai Gold
30:17
Exchange members. All right, look at all these.
30:19
We're going to scroll through JP Morgan's on there, but a lot of
30:23
these are Chinese companies, Bank of Changzhen, the Tian
30:29
Chang International Precious Metals.
30:33
Look at these are all the Bank of China.
30:35
All right, HSBC, that's not Mitsubishi Corporation, Yahoo
30:41
Jewelry Holding China Everbrite Bank.
30:43
This is the list of all the members now.
30:47
Now when we look at that list, given the entire list above,
30:51
there are only below are the only two North American Shanghai
30:55
Gold Exchange members. OK, given the entire #2 given
30:59
the entire list above, are 16 Europeans.
31:03
OK, given the entire list above 84.
31:08
So I did the math. I think it's like 75% of the
31:13
members on the Shanghai Gold Exchange are Asian countries.
31:18
OK, One one from Africa, 3 from Australia and New Zealand, OK,
31:26
No members are from South America.
31:28
And basically he says, look, the what?
31:31
The Silver Institute, the CPM Group, the COMEX, and the LBMA
31:35
have lost control of gold and silver pricing.
31:42
We anticipate gold and silver will be volatile, yes.
31:45
And we are not saying that Shanghai won't be immune from
31:48
corruption and temptations. But for now, below describes the
31:52
philosophical difference. This is the difference.
31:55
That's what we're going to go to between the eastern exchanges
31:59
like the Shanghai Gold Exchange and the Shanghai Futures
32:02
Exchange. OK, Shanghai Gold Exchange is
32:05
legit. Let's highlight that in orange.
32:08
What do you say, guys? We're going to go to orange, our
32:12
favorite color. We're going to allow that.
32:15
All right. Thank you, by the way, to all of
32:17
you basement dwellers for joining me.
32:19
Hey, when you're down here in the basement with me talking
32:21
about silver and gold, you are a basement dweller.
32:24
Of course, today is International Women's Silver
32:27
Stacking Day. So a special welcome to all of
32:29
our women stackers, but I appreciate you being here,
32:33
Susie, appreciate you being here.
32:35
We're friends. We got a lot of nice people.
32:37
There's a lot of great comments, leave comments in the comment
32:39
section. You can make some great friends.
32:42
You can learn some great things. And we, we don't always agree on
32:45
everything and that's OK because that's how we learn.
32:48
The Shanghai Gold Exchange is legit versus the Comex, which is
32:52
now the Shanghai Gold Exchange Exchange's source for cheap
32:58
metal. The metal is moving from the
33:00
West to the east. The physical delivery process on
33:02
the Shanghai Gold Exchange differs significantly from COMEX
33:06
in terms of requiring actual deposits of physical metal up
33:10
front and facilitating the transfer of ownership of that
33:14
metal upon contract expiration. Here are the key differences.
33:19
OK guys, the COMEX is is all make believe very little of the
33:23
metal a very there's very little backing of all the contracts of
33:27
the trade hand and very little of the metal ever gets really
33:31
delivered except when you consider that a lot of the metal
33:36
is now being delivered from the COMEX to the east to China.
33:42
OK Shanghai Gold Exchange To trade gold and silver futures,
33:46
traders must first deposit an equivalent amount of physical
33:49
bullion as collateral with a designated vault.
33:53
The amount of metal a trader can buy is limited by how much they
33:58
have deposited with the exchange.
34:00
At contract expiration, physical delivery takes place where
34:04
ownership of the pre deposited metal is transferred between
34:08
buyer and seller. The Saint Shanghai Gold Exchange
34:12
acts more like a physical spot market.
34:14
It's an actual, believe it or not, market.
34:17
We know that they set up the futures markets in the West to
34:20
manipulate the price. We've looked at that over and
34:23
over. I'm not going to pull it up
34:24
again for you today guys. But there's memos from the early
34:28
70s where they talked about the fact that we need to set up a
34:31
futures market because then we can induce volatility into the
34:35
silver price and gold price, and we can dissuade people from
34:40
investing in silver and gold, right?
34:42
I mean, it's, it's, it's, it's unbelievable.
34:45
The COMEX, also known as the Crimex traders do not need to
34:51
deposit physical gold or silver to trade contracts.
34:53
COMEX contracts are predominantly cash settled with
34:57
physical delivery being rare, less than 1%.
35:02
So almost all the contracts in China get get settled in real
35:07
metal, whereas at the COMEX or the Crimex less than 1%.
35:10
So you know that's not the real price of silver.
35:13
OK. For the few traders opting for
35:16
physical delivery on the COMEX, they must notify the clearing
35:20
house and meet additional. They make it very difficult.
35:22
I think it was Rafi Farber or maybe it wasn't Rafi or Chris
35:25
Marcus. One of them actually tried to
35:28
buy and have the, you know, on the on the comex and have the
35:31
metal delivered and they made it almost impossible.
35:34
I think they just eventually gave up.
35:36
The Crimex does not necessarily hold enough physical inventory
35:40
to meet simultaneously delivery obligations on all open
35:45
contracts. In essence, the Shanghai Gold
35:49
Exchange requires traders to back their trades with pre
35:52
deposited physical metal and facilitates the transfer of that
35:55
metal at expiration. While the Crime X is a paper
35:59
market, a Unicorn for dust market where most contracts are
36:02
cash settled without actual metal trading hands.
36:06
Let's go. It's a special day.
36:08
Let's pray, please, let's do an update on the silver and gold
36:11
price. If they crack.
36:12
No, they've yet to smash it down guys.
36:15
And we're going to be rooting for platinum.
36:17
We want to see platinum above $1000 per oz.
36:21
OK, let's talk about, we talk about all this silver and gold,
36:24
right? What it what what can we see as
36:27
proof, right? Actual proof.
36:29
Hold on here. I'm gonna take that ticker down
36:31
so we can get closer together, right?
36:34
Proof. It's not just us that believes
36:37
in gold and silver. Why do you think all the eastern
36:39
central banks are buying gold, holding gold?
36:42
All the BRICS countries are holding gold.
36:44
What about somebody from our past here in the United States,
36:47
somebody who who used to actually run the Federal
36:51
Reserve, right? Alan Greenspan, the famous Alan
36:56
Greenspan, he says, quote, in the absence of the gold
37:01
standard, there is no way to prevent confiscation of savings
37:07
through inflation. He said that in 1966.
37:12
He said the truth, OK, That's the truth, right?
37:16
When there's no gold standard, when there's just paper money,
37:19
right, You can increase the supply of paper money that makes
37:24
the value, just like we talked about earlier, right?
37:26
If there's more supply because of the of the Petro dollar going
37:30
away, because of the Fed printing, however you want to
37:33
look at it, when there's more supply, that makes the value go
37:36
down. But he had more to say as well.
37:39
OK, talking about gold, Alan Greenspan said.
37:44
Yet gold has special properties that no other currency, with the
37:49
possible exception of silver, can claim.
37:52
For more than two millennia, and I believe a millennia is 1000
37:56
years, gold has had virtually unquestioned acceptance as
38:02
payment, OK, unquestioned acceptance as payment.
38:07
It has never required the credit guarantee of a third party.
38:12
So what that means guys, is there's no counterparty risk.
38:16
You're not relying on anybody to, to, to, to, to harvest your
38:21
value from. You're not relying on the United
38:24
States government or the European Union or the Japanese
38:28
government or China or anyone that has a Fiat related
38:33
currency. No, you're only relying on one
38:36
thing and it's that physical gold, silver or gold, right?
38:40
There's if you don't own it, if you don't hold it, you don't own
38:43
it type mentality. Let's get back here.
38:48
All right, let's talk about some doom in the United States.
38:52
This is not a pretty picture. OK, let's talk about how it at
38:58
this country right now. We are headed for some bad
39:02
times. This comes from Michael Aruit on
39:06
Twitter. OK, US household cumulative
39:10
excess savings. Look at this, this is monthly,
39:14
right? Look at out there was like what,
39:17
2-2 trillion in, in, in excess savings.
39:20
Do you see what's happened guys? Over what the last, oh, about
39:25
three years down, down, down, down, down.
39:27
And if we look at April 2024, it's negative.
39:31
Consumers are out of money, OK? The reality is in this country,
39:36
if you're a rich person, you've done really, really well.
39:40
They've rigged the system so that you're richer than you've
39:42
ever, ever been. If you're a part of the vast
39:46
majority of the people in the United States, you are in way
39:49
worse financial situation right now than you were three years
39:54
ago, than you were five years ago, heck, likely even one year
39:58
ago. Why?
40:00
Because of inflation, because of money printing, because they
40:04
rigged the system for the ultra wealthy.
40:06
They printed money. It really started back in 2008.
40:09
I'm not going to get into that. You know, the great financial
40:12
crisis when they bailed everything out And now, you
40:15
know, they've continued to do that, right?
40:18
Unicorn fart does funny money, paper money, whatever you want
40:21
to call it. But what it's resulted in is sky
40:24
high inflation, which means that Americans on average don't have
40:28
any excess savings and it's not I'm telling you not going to end
40:33
well right here. Let's go to this article real
40:36
quickly from Zero Hedge, middle class destruction, the real
40:40
story behind America's declining economy, right?
40:45
And guys, let's, let's, let's before we get to that, let's be
40:48
real here, OK? Let's be real here.
40:51
They basically have have put the screws to the middle class in
40:55
this country. That's the reality.
40:57
Working class, hard working middle class people have it more
41:01
difficult now probably than, you know, any time since the 1930s
41:06
in the last 100 years almost what's gonna happen?
41:10
People don't have money. Car insurance cost a lot more.
41:13
My gosh, I'm looking at our car insurance.
41:15
I'm like it's doubled almost in the last couple years.
41:18
House insurance is through the roof.
41:20
Food prices are through the roof.
41:22
Everything costs more. You know that, right?
41:24
I don't have to tell you that people don't like that chart
41:27
just showed people don't have the money.
41:29
When you get the vast majority and it's becoming the vast
41:33
majority of the people in any economy that don't have money,
41:38
the economy is gonna is gonna implode.
41:40
There's no other way around it, right?
41:42
There is no other way around it and you know it.
41:46
It doesn't bode well for the stock market, doesn't bode well
41:50
for the US economy, doesn't bode well socially in this country.
41:53
And again, we don't like it. We didn't create it, but we want
41:57
to stay on top of what is going on.
42:00
Let's just look down here. This just gives, I mean,
42:03
unbelievable proof. Do you fit in?
42:05
I'll ask you this. You know, I hope you don't,
42:08
right? But do you fit into any of these
42:09
statistics? 40% What's highlighted in orange
42:14
40% of all Americans unable to plan beyond their next paycheck.
42:23
44 out of 10 go walk around in America today. 4 out of 10
42:28
people are basically living paycheck to paycheck. 46, Almost
42:32
half don't have $500 saved for a rainy day.
42:38
But walk around today, right? Half the people you bump into
42:41
randomly, half don't have $500. A quarter of those making
42:47
$75,000 per year spend over 50% of their budget on housing.
42:54
We got a big housing problem in this country.
42:56
We got a big housing bubble as well.
42:58
OK, the majority of those making under 60,000 per year find their
43:04
debt difficult to manage. OK, that's middle class
43:08
destruction here in the United States.
43:10
Let's go over to this chart. I found this very interesting.
43:14
This gets back to our government.
43:16
But how can this be? OK, Well, let's let's go back
43:19
and see what he's with. This guy from Gold We trust, He
43:22
says why is government spending, government spending as a
43:26
percentage of our GDP now permanently higher than it was
43:31
during World War One and World War Two?
43:34
This actually, I believe came from Europe because the United
43:37
States is still a little bit below.
43:39
But we're going to look at this graph.
43:41
Ask yourself that question, right?
43:43
There's World War One, there's World War Two.
43:46
OK, look how high the spending went.
43:48
The red line is the USA. The other lines, you know, other
43:51
colors, you can look at them. Why are governments now?
43:55
I mean, that was a time of like absolute total chaos, crisis in
44:01
the world, World War One, World War Two.
44:04
So what does it mean that right now these governments are
44:08
spending, right? The government spending as a
44:10
percentage of GDP is at or above those levels.
44:15
Are we in crisis? Are we in a depression?
44:18
You know, I heard somebody say this the other day.
44:19
Do you feel like, excuse me right now, the United States is
44:25
in a depression? And I heard, I heard it said,
44:27
and I, I think I agree with this.
44:29
The person said basically half the people in the United States
44:33
are in a depression right now, right?
44:36
They don't tell, they don't want people they don't want, you
44:38
know, the, the, the mainstream media is not going to talk about
44:41
it, but half the people in this country are 40 percent, 30%.
44:44
However, maybe 60% of the people in this country right now are in
44:49
a depression. So, and things aren't getting
44:52
any better, right? Everybody's moving away from the
44:55
dollar, you know, on a geopolitical level.
44:59
All right? We got a couple articles that we
45:02
can look at, and that's not it. I can tell you.
45:07
All right, China is making a lot of noise about dissatisfaction
45:12
about the United States blasting the United States over the
45:16
policy in Ukraine. OK.
45:21
And now there's so it's it's an unbelievable geopolitically
45:26
what's going on. They're talking about officially
45:30
now allowing Ukraine to use the money that the West seized from
45:36
Russia to fund the Ukraine war. Things aren't getting any
45:40
better. OK, I know one thing for sure.
45:42
We'll stick together through it all.
45:44
Happy International Women's Silver Stacking Day.
45:48
Seriously, to all the women that are joining the ranks of gold
45:52
and silver investing sound money, real money, it's a big,
45:56
big deal that you're here. We appreciate you.
45:59
I appreciate you. OK.
46:00
I hope you have a great Friday and I'll look forward to seeing
46:03
you. Yes, you again soon.
46:06
Thank you.