Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨URGENT - The SILVER INSTITUTE Gives YOU The Clues

Transcript

🚨URGENT - The SILVER INSTITUTE Gives YOU The Clues · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Can you feel the energy in the gold market?
0:04
In the silver market, we're having moves like I have not
0:08
seen in the 20 years that I've been following it.
0:10
But today we have some fascinating information to talk
0:14
about. We're going to talk about the
0:15
Silver Institute's latest report, but we're going to go a
0:20
level deeper and discover why we have even more to be excited
0:25
about when we dig into these numbers.
0:27
I've got some, what I think in depth analysis that you're going
0:31
to find extremely, extremely interesting.
0:34
Also, we'll cover doom, doom and gloom catastrophe 2024.
0:40
We're going to do an update there.
0:42
What will the remaining eight months of the year look like?
0:45
I have some information that, look, I don't want to be a
0:48
doomsayer, but things aren't looking very good and we had a
0:52
rather calm beginning to 2024. We're also going to talk about
0:56
China with gold, more incredible information regarding gold and
1:01
silver coming out of China. We're going to talk about the
1:05
gold standard one more time. I've got another piece of data,
1:09
a fascinating graph that I think shows the world could indeed be
1:14
waking up to a concept that we talk about on a regular basis,
1:19
right? The world has never really,
1:21
really, really gone off the gold and silver standard.
1:26
But let's get started by talking about this big data silver, 50
1:29
dollar, $60.00 silver, $80.00 silver.
1:33
Think about this. All right, one year from now,
1:36
could we be down here in the basement of basement dwellers
1:39
all hanging out talking about $70.00 silver, $60.00 silver?
1:44
Who knows, Quite possibly even $100 silver.
1:48
Guys, nothing is out of the question.
1:51
You know, I was getting in the shower this morning and I was
1:53
thinking about like, what are the most fantastic numbers that
1:56
you've heard for the silver price?
1:58
I've heard people talk about $600.00 silver.
2:01
I've heard Rafi Farber talk about the fact that if we get
2:05
like a big blow off top type arrangement that occurs that we
2:09
could see a a temporary situation where you might be
2:12
able to buy a house for 100 or 200 ounces of silver.
2:15
And people say, Oh no, it'll never happen.
2:18
It'll never happen. Let me tell you something and it
2:20
gets me mad because silver and gold price can go astronomically
2:25
high. They can go to Infinity.
2:27
And the reason why people scoff when we say that is because they
2:30
say, well, the dollar will always have value.
2:33
The dollar, it's recency bias. It's normalcy bias because it's
2:37
been that way the entire time that likely you and I have been
2:42
alive. We think all the dollar will
2:44
always have value. Look, you know, there could be a
2:47
scenario that unfolds where the dollar does lose a crazy amount
2:51
of value. Let me tell you something.
2:52
Let me show you something. This came from our friend
2:54
Silvershire. This is $0.50.
2:58
Oh, did I lose a piece here? Here's 2 silver quarters and
3:04
hold on. And a beautiful silver 50 Cent
3:08
piece. This would be the only way.
3:11
And this ship sailed, right? This ship sailed.
3:14
These are pre 19651919196350 cent piece.
3:21
This is the only way that the dollar could permanently
3:25
maintain its value is if it was backed by silver.
3:28
But I've gone on too long, guys. Let's go into the Silver report
3:31
information from the Silver Institute and you're going to be
3:35
absolutely flat, flattened, flattened.
3:39
I don't mean to flatten you flattered.
3:41
How would you rather be flattered or flattened?
3:44
The choice is yours. OK, You're here on your own free
3:48
will, but we should be looking at, let me make sure I have this
3:52
up. Yes, I do.
3:53
OK. We got a great synopsis from our
3:57
friend Neils over at Kitco. And I have some data that I want
4:01
to share with you, some thoughts on what they're saying.
4:03
But the Silver Institute came out with their latest report,
4:07
Silver to see second highest deficit in 20 years as record
4:12
industrial demand rises 9%. OK, so we're they're predicting
4:17
a rise in industrial demand. That's from the Silver
4:20
Institute's World Silver survey. All right, Silver prices remain
4:25
well supported at elevated levels as robust demand
4:29
continues to outweigh supply, creating further drawdown in
4:33
above ground stocks, according to the latest research from the
4:37
Silver Institute. OK, now let's talk about this
4:40
guys. This is critical.
4:41
This is big this year, over the last year especially, there has
4:47
been a lot of shade thrown at the Silver Institute's numbers,
4:50
a lot of controversy, a lot of suspicion about these numbers,
4:54
right? A lot of people think that the
4:56
numbers that they're reporting underestimate the amount of
5:00
demand, overestimate the supply. All right, So these numbers that
5:05
we're looking at, the reality is this is great point #1 and I got
5:09
like 10 great points for you on this.
5:11
The reality is the numbers are even very likely even more
5:15
favorable for silver as we head into the coming years.
5:20
On Wednesday, they reported it. Metals Focus noted that
5:24
industrial demand continues. This is This is crazy to
5:27
dominate the silver market and is expected to hit another
5:31
record high this year, rising 9% to 710 million oz, propelled by
5:38
the solar sector. No joke.
5:40
Demand for photovoltaic solar panels rises 20% to 232 million
5:46
oz. The key here is the 710 million
5:50
ounces of industrial demand for silver.
5:55
OK, think about this. That pretty much eats up the
5:59
entire amount of silver that the silver mining industry is
6:03
producing for the entire year, just the industrial demand.
6:08
These are the numbers from the Silver Institute, which again,
6:11
are often being called into question.
6:13
Now, what is the industrial demand even significantly
6:17
higher? We've got the people over at
6:19
silverwars.org pointing out that the military industrial complex
6:23
is eating up a lot of silver. Is that factored in?
6:26
To what extent is that factored in?
6:28
But the big key here, guys, is that almost every ounce of
6:32
silver that the silver mining companies are digging up is
6:36
being absorbed by industrial demand.
6:39
OK, let's move on. We had, there's a lot, a lot for
6:43
us to be happy about. Let's just look at this very
6:45
quickly. This is global demand for
6:48
silver. Hold on here, hold on.
6:52
I'm going to fix this so that you guys can see it better.
6:56
There we go. That's better.
6:59
OK. So just look at the global
7:02
demand for silver since 2014. Now we're going to talk about
7:07
investment because when you look from 2022 to 2023, it appears
7:13
that there was a big decrease in investment demand that pretty
7:17
much accounted for the entire decrease between see my cursor
7:22
or my little magnifying glasses, 2022 and 2023.
7:26
The orange section is investment demand.
7:29
Had investment demand here, which is 2023 been the same as
7:33
here, looks like to me, we would have actually, yeah, pretty much
7:37
seen an overall increase in demand.
7:40
And we're going to talk about more good news regarding that
7:44
investment demand profile as we move into the end of the year.
7:48
Look, it's used industrial investment, photography, almost
7:53
photography, almost nothing. Jewelry, right, a big section,
7:59
right, silverware and dehedging. But let's look at silverware,
8:04
jewelry. Those are the two big ones
8:07
outside of an investment, outside of industrial.
8:10
The again, don't forget, right, the big Gray section here that
8:15
pretty much equals the entire amount of silver that's being
8:19
produced by the silver mining sector.
8:22
All right, let's get on here. Let's move on OK, I'm going to
8:28
re hold on. Bear with me please.
8:30
We're going to go back up to 100%, All right.
8:35
At the same time, metals focuses, jewelry fabrication
8:38
rising, OK. However, the precious metals
8:43
research firm forecast disappointing investment demand.
8:47
Thanks again to our friend that Neil's for this great article.
8:51
With physical bar and coin purchases dropping by 13% to 212
8:57
million oz. OK.
8:59
My question is how do they know these numbers were probably put
9:04
together not, not, not, you know, not too long ago.
9:07
How can they even consider that they know what investment demand
9:11
is going to look like through the end of the year, Seems to me
9:15
right. It seems to me that investment
9:18
demand would be very, very difficult to predict.
9:21
And at 212 million oz, I want to put that into perspective for
9:25
you guys. That's less than one ounce.
9:28
That's like 2/3 of an ounce of silver for every U.S. citizen.
9:34
So that investment demand picture could change and it
9:37
could change very, very quickly. In an interview with Kitco News,
9:41
Newman Newman's back Hey our friend Newman Philip Newman,
9:46
director and founding partner at Metals Focus, said the the
9:50
deficits are this is where it gets more interesting.
9:53
Are starting to matter. OK, deficits are starting to
9:56
matter as above ground stocks continue to get depleted.
10:00
He added that in a world of continuous deficits, higher
10:04
prices will be needed before the stocks are released into the
10:08
marketplace. All right, the deficits, guys,
10:11
we are, we are consuming more silver every year than is being
10:17
produced. All right.
10:18
Now what what is so critical for us to remember about that is
10:22
that, that, that, that number, that additional number of of Oz
10:26
that's being demanded is being filled or plugged, however you
10:31
want to look at it being supplied from these above ground
10:35
of silver resources. Nobody knows for sure how many
10:39
ounces are above ground. Nobody knows, OK, that's the
10:43
bottom line. But what we do know are two
10:46
things, right? That number, whatever it is of
10:49
above ground supply that temporarily is being used to to
10:54
supply the deficit, that number is finite.
10:57
We know it's not silver's not like paper money, right?
11:00
Jerome Powell cannot print more silver.
11:03
So we know that that number is limited and we know that that
11:07
number is being chewed up somewhere around the to the tune
11:10
of like 400 or 500 million oz over the last three or four
11:14
years, OK? It won't last forever.
11:19
It's key here. OK, hold on here.
11:22
OK? We know that it's being chipped
11:24
away at. I wrote this out for you.
11:26
It's being chipped away at aggressively year after year,
11:30
OK? And there's a shocking double
11:32
whammy effect to this that I'm going to get to at the end.
11:35
Let's just go through this a little more.
11:36
See what Newman said. It says in this environment,
11:40
Newman, Newman's back, hold on Newman, Newman.
11:47
Newman. Newman said that although
11:50
investors should expect to see some volatility, there's long
11:53
term value in the silver market well supported by solid demand.
11:57
Amen, brother. Quote from Newman.
12:00
One of the advantages of of silver industrial demand is that
12:03
there's so many end uses that if one backs off another one tends
12:07
to pick up the reins. That is the exciting thing about
12:10
this market, he said. Let's just use AI.
12:13
This is interesting. Artificial intelligence, right?
12:16
The big buzz buzzword as an example, not only in terms of
12:19
the energy and computer power required, but what possibilities
12:24
open up because of all this? What new applications will be
12:28
created because of AI now, right.
12:30
We knew that AI was using a lot of silver for the microchips
12:35
that are being built, that are being developed to satisfy all
12:39
this increased computing demand from AI.
12:42
But I hadn't thought about the power needs as well.
12:44
And silver is a critical metal in the green energy in the power
12:49
revolution as well. So there's that other component
12:52
that we really hadn't talked about.
12:54
Although investment demand and silver has lagged, causing it to
13:01
underperform gold medals, Focus expects that this trend is only
13:04
started to reverse. Newman said that historical
13:06
average for the gold silver ratio is around 70.
13:10
I think it's around 60, blah, blah, blah.
13:12
Even with the recent retreat, a still high gold to silver ratio
13:18
will also attract some investors who view silver as undervalued
13:23
over the long term, perhaps also as its strong fundamentals gain
13:28
attention, the analysts said in the report.
13:30
We're going to talk about the double whammy here in just one
13:33
second. While investors have been slow
13:35
to invest to embrace silver, and we know that from looking at the
13:39
SLVETF, right? The amount of silver in the
13:43
SLVETF is down like 30 or 40% in the last four years, Newman
13:48
said. Newman said that growing
13:51
deficits have changed the investment landscape.
13:54
Yes. He added that Metals Focus
13:57
expects the silver market to see annual supply deficits for the
14:03
foreseeable future. Quote.
14:04
A new dynamic is being established that is now
14:07
underpinning the market. Investors should get used to the
14:10
idea that deficits are here to stay For the time being.
14:15
The forecasted 2024 deficit comes as Metals Focus said that
14:20
the deficit in 2023 was 185 million oz.
14:24
The silver market has seen a structural deficit for three
14:28
consecutive years. All right, there's the deficit,
14:32
the Big Blue lines right there. And that, my friends, is the
14:39
rest of the story. So, so, So the key here, OK, the
14:43
key here, the big shocking double whammy that we need to
14:47
consider when we're looking at this.
14:49
Well, triple whammy #1 the Silver Institute numbers are
14:53
being, like I said, called into question.
14:55
It's likely that the demand numbers are actually higher and
14:59
some people are saying that the supply numbers could potentially
15:03
be even lower. I'll leave you to decide that
15:06
there's a lot of other content creators that are that are
15:09
taking on that that battle. But let me tell you the double
15:13
whammy and I wrote this one out for you.
15:15
Again, this is so big for us to realize, OK, there will be a
15:21
supply demand imbalance. We know that, OK, which will
15:25
propel silver higher. The deficit is only growing, the
15:30
demand is increasing, the supply is going down.
15:33
The added bonus on top of that, just that alone fundamentally
15:38
could get us to 5060, do you believe $70.00 silver?
15:42
But the double whammy, the bone bonus on top of it all is the
15:47
fact that we also know that in real terms, the US dollar is a
15:52
best case scenario going down, down, down, like what we talked
15:56
about earlier, right? The dollar could, some people
16:00
are saying this, this big Bitcoin billionaire said it
16:03
could go to 0, whatever. I'm not predicting we're going
16:05
to have zero dollar, 00 value silver, some massive crash
16:09
tomorrow or next week. But I will argue anyone to the
16:14
point that the dollar is going down.
16:16
So you've got #1 unbelievable supply demand dynamics in the
16:20
silver market, the most undervalued asset, a lot of
16:24
people are saying in the history of the world.
16:26
And on top of that, as measured in paper, Unicorn fart dust,
16:30
Fiat, whatever you want to call it, dollars, that will also be a
16:35
second source of, of, of pushing the price higher and higher and
16:40
higher. I have a feeling right that if
16:42
you own some physical silver that 10 or 20 years from now,
16:45
you're going to be real, real happy that you made that choice.
16:49
10 minutes from now, who knows? 10 hours from now, who knows?
16:53
But while we're on that subject, let's go take a look at the
16:57
metals prices live as we're recording right now.
17:01
This could either get us real happy.
17:03
I need to update this guys. We're over at pin backs.
17:06
OK, Gold's up 13, almost $13, silver up 36 dollars.
17:11
While we're here at the Pendeck site, let's all say thank you to
17:14
channel sponsor Pendecks. They make this live stream
17:18
possible. They make this video possible.
17:20
If you're in the market for some silver, gold, if you believe
17:23
right, do your own work, do your own due diligence.
17:25
I am not giving financial advice, but if you believe after
17:29
you do your research that the gold price or the silver price
17:33
or the platinum price are going to go higher and higher and you
17:36
want to buy some metals and you want to buy it online, do
17:39
yourself a favor, right? Put Pimbex into your mix.
17:44
I'm not going to tell you what to do, but I would say that you
17:47
may benefit from comparing what you get from Pimbex to what you
17:51
get from other online bullion dealers.
17:54
You want to make sure it's a company that you can trust.
17:57
I know that I can trust Pimbex, right?
17:59
And I'd learn that from experience and from reading
18:02
other people's experience. But you also want to get the
18:06
best price because you want to get the most metal for your
18:09
money. What I find when I deal with pin
18:11
backs is they check all the boxes.
18:14
Where's that box? We got to do the box.
18:16
There it is. I'm getting my hands straight.
18:18
Pin backs, they check all the boxes.
18:21
I think you'll find that to be the case as well.
18:23
Let's move on. We've got more.
18:25
Let's talk about doom real quick.
18:27
Doom gloom, right? The world is ending, the sky is
18:31
falling, and I got the top ten terms for doomsayers.
18:35
Tinfoil hat, right? Remember right.
18:38
Is it almost over? Right.
18:39
Gold and silver. Been on a such a tear for the
18:43
beginning of 2024. Isn't this strange?
18:46
Because remember, at the end of last year, everybody was making
18:49
their predictions for 2024. The sky is falling and I was
18:53
part of that as well. All right, I'd say look when I
18:55
look at the next year. Woof, feels like we've got, you
18:58
know, conditions that are could create a confluence of factors
19:02
that could could result in some pretty serious events occurring.
19:06
Guys, the reality is nothing has happened here during the first
19:09
four months. There's been normal bad stuff,
19:13
but nothing big. Maybe some unfortunate
19:16
escalations and wars, but no big, big deal.
19:21
Are we still in for, are we still in for some very rough
19:26
times going through the rest of the year?
19:28
And I did some thinking about it.
19:30
I was like, you know, are the black Swans still circling?
19:33
OK, I think it is right. We're almost a third of the way
19:37
through the year with nothing. Yes.
19:40
OK, now think about this. This, these are what these these
19:43
are just a couple things for us to consider.
19:45
I'm not going to pull up the chart.
19:47
I've done that the last few days.
19:48
We are at record high interest rates, pretty much record high
19:51
for the last 20-25 years. That could create massive
19:55
financial Black Swan type events.
19:59
OK, government, the government, you know, right, The amount of
20:03
debt the government is, nobody talks about the corporate debt.
20:06
It is sky high. This is going to be squeezing
20:09
the profit margins of. The big, major corporations
20:13
hurting the stock market because it will be eating into the
20:17
profits of the big corporations. What about on a household basis?
20:22
The consumer? That's right.
20:24
You and me, Haven't we heard that?
20:26
Hasn't it been beat into our head?
20:27
We're the back, the consumer? I mean, it's pretty sad, isn't
20:31
it, to say, But that's what they say.
20:34
The consumer is the backbone of the US economy.
20:40
Excuse me, bad allergies here in Saint Louis right now.
20:44
Give me one second. I may be having a coughing
20:47
attack on you. So we could be in for some
20:56
financial black Swans That's under This is under the best
21:00
case scenario. This is the reality of what's
21:02
going on right now on a geopolitical level.
21:04
If the bricks right or the rest of the world tries decides to
21:08
make some kind of financial move, we can see some very, very
21:12
crazy times. OK, geopolitical risk.
21:16
Is it an all time high? We know that we don't have to
21:18
cover that. We've talked about that ad
21:20
nauseam domestically in the United States, socially, right,
21:25
politically, are we not at like a period that maybe we've never
21:30
experienced in our lifetime? How old are you?
21:32
I'll ask you that question. I'm 54 years old.
21:35
I don't ever, ever even closely remember a period of time where
21:42
things seem so screwed up as they are now, you know, not even
21:47
to talk about the, the, the, the, the fiscal and monetary
21:51
situation in this country, just the social situation and the
21:55
level of unrest, the level of unhappiness.
21:58
So we are, I think still, you know, we're not out of the
22:01
woods. Could it be the case that we
22:04
say, well, the first third of the year was pretty smooth, but
22:09
the last 2/3 of the year really, really provided us with some
22:12
serious, serious fireworks? So what do we call right?
22:16
Are you a doomsayer? Here's the top ten terms for a
22:19
negative person, A doomsayer, A pessimist, A catastrophist, an
22:24
apocalyptic thinker, A gloomy Gus?
22:30
I never heard that one before. Are you a gloomy Gus?
22:33
Am IA gloomy Gus? I think maybe we're realist.
22:36
I don't know, a fatalist, a prophet of doom, a negative
22:40
Nancy, a melancholic, or a Cassandra.
22:44
Cassandra. I don't know.
22:46
All right, Is is China taking? Is China taking all the world's
22:52
gold? Let's go out and take take a
22:53
look here our friend Vince Lancey.
22:56
I used to call it Lancey, but I got yelled at.
22:59
But I think then Vince said that it was actually pronounced
23:01
Lancey. None the less, here we go.
23:07
You make sure you guys can see this.
23:09
Yes you can. This was from Zero Hedge and
23:12
there he is right there, VBL, Vince, Lancey, Lancey sorry,
23:17
talks about the $3000 gold call from Citi.
23:19
We're not going to talk about that.
23:20
We're going to talk about China and JP Morgan.
23:24
Let's just read what he wrote here.
23:25
It's it was a couple days ago, but this is very interesting.
23:28
Said in November, Gold Fix broke a story that a New York bank had
23:33
taken delivery of COMEX gold and sold it in China to close the
23:38
widening Shanghai COMEX arbitrage differential.
23:42
We're going to look at this crazy difference.
23:44
I've got some updated numbers between what gold and silver are
23:49
selling for in the United States and what it's selling for in
23:53
more of a cash market in China. Since then, maybe tons of gold
23:58
had left US shores for China. Since then, no one else has
24:03
really discussed it. I love Vince, I'm going to have
24:06
him back here in the basement. He was a a guest about a month
24:09
ago, but now it's becoming obvious who at least one of
24:13
those banks was. This is interesting.
24:19
Why would your head of trading visit the Shanghai Gold Exchange
24:24
unless he was buying or selling physical gold on that exchange?
24:28
Think about that, guys. Right.
24:30
Further, given the price in China is higher than the price
24:33
of US, and he wants to make money, he's not buying China
24:37
gold for US delivery. And that is, I think I missed
24:42
that part there. Yeah, here we go.
24:44
JP Morgan Chase bank visits the Shanghai Gold Exchange.
24:49
Is JP Morgan saying, hey, yeah, China, we can, we can deliver
24:54
you all the gold you want 'cause we can buy it cheaper in the
24:57
United States and deliver it to you in China at a much higher
25:01
price, making that difference, that price differential.
25:04
And why is that price differential so important,
25:07
right? Because China is becoming more
25:09
and more influential in the world in setting the gold price,
25:14
in setting the silver price. Let's go out and look at what
25:17
the Oriental Ghost provided us with here on Twitter.
25:21
This is crazy that this we're going to look at the numbers
25:24
down here, but let's read what he said April 19th, right, which
25:28
is today the market data for the Shanghai Gold Exchange and the
25:32
Shanghai Futures Exchange, the silver vaults of the futures
25:36
exchange dropped, OK? So the amount of silver they had
25:39
today and set a new low again since the C19 pandemic.
25:45
Investors here, this is in China, he's in China.
25:48
Investors in China think that if the inventory continues to drop
25:53
without replenishment, it will still trigger a silver panic.
26:01
Silver panic? Interesting.
26:04
Is that another way to say short squeeze?
26:07
I don't know. OK, but look at these numbers
26:11
telling us, right? The top line silver AG closing
26:15
price on the Shanghai Gold Exchange $31.87.
26:20
Same thing if we drop 2 lines down for the Shanghai Futures
26:23
Exchange, $31.87. Hold on a minute, let's run back
26:29
out to our friends at pin backs and check what silver's going
26:32
for here in the United States. Interesting. 2856.
26:38
So that would be, woah, that would be, do I have that right?
26:44
Almost $3.50, almost 10% higher on the Shanghai Gold Exchange.
26:50
In gold, it's 200. Mike.
26:54
OK. Thank you, Susie.
26:55
Just to inform me, we have 200 likes.
26:56
So I'm going to ring the cowbell here in just a second.
27:00
Gold, right? Trading for 24272441 on the
27:05
futures exchange. And why is that so important?
27:08
Because those markets are much, much, much, much more physical
27:14
than what we have here in the United States.
27:17
Hey, let's ring the cowbell. Where's the cowbell?
27:19
Where'd it go? There it is.
27:22
Hey, thank you for being part of the basement.
27:24
This is where I'm going to tell you.
27:25
I'm going to butter you up and tell you all kinds of good
27:28
things about yourself. You, you, right?
27:31
Each one of you, right. But you 'cause you are the
27:34
individual watching right now, are just as important as anybody
27:37
else in the basement and the world.
27:39
So it's a big deal when you join us.
27:41
We're basement dwellers temporarily.
27:43
And when you give us a thumbs up, well, hey, that means you
27:46
like what we're talking about. You like the channel and we get
27:48
to 200. I ring the bell.
27:50
So here's the bell warning. Did a couple more there for our
28:01
friend Jake from Jake's Custom Parts.
28:02
And by the way, thank you to all the moderators who are here
28:05
today and every day helping make the channel possible, helping
28:09
make the live streams possible. All right, what about going back
28:14
$10,000 gold? Did he say that?
28:17
Did you hear that right, $10,000 gold.
28:21
What can it happen? I'm, I will argue, right?
28:25
Look, look, $400.00 silver, $350.00 silver, whatever number
28:32
you want to use. Are we moving back to a gold
28:35
standard, right. If we do, if the world reverts
28:39
to God's money, Mother nature's money, whatever you want to call
28:43
it, the money that's been money for 4005 thousand, 3000 years,
28:48
right? We could see measured in U.S.
28:50
dollar terms, right? Remember this?
28:54
I love these. They're so cute, aren't they?
28:56
Look, it has wings. It can fly, right?
28:59
Silver can't fly this this can fly.
29:02
It's paper. It's nothing measured in paper.
29:04
Dollar silver can go gold can go super, super high.
29:08
Let's go out here right now and look at an interesting new piece
29:12
of data that we have. This is from our friends at Beau
29:17
Ron Oi global gold market capitalization.
29:23
It's the value of all the gold in the world right now above
29:26
ground two money supply all right so this is the ratio all
29:31
right So right now the global gold to the global money supply,
29:36
global gold market value to the broad money supply ratio hits
29:39
13%. There could be some bad news in
29:42
this guys, because it, it's, it's higher than it's been in a
29:46
long time, as you can see here, however, however, so that could
29:52
signal, right? If it dropped back down to let's
29:54
say it was what 5% back in to be at for it to be at 5% right now,
30:00
we probably would have 13 or $1400 gold.
30:03
I'll let you do the math on that.
30:05
But what I would argue is what this indicates to me is a
30:10
growing awareness, a growing movement around the world.
30:14
And don't we talk about that all the time?
30:15
What would that mean if the world is?
30:19
Is there any any clue that we get that this is actually
30:22
happening? That the world starts to re
30:24
recognize gold and silver as the only forms of real real money?
30:30
Or at least increase the extent to which they value gold and
30:38
silver as the backing of real money?
30:41
Kind of like that guy that worked for the New York Fed I
30:43
think his name was Jon Exter spent his a lot of his career
30:46
talking about with Exter's pyramid.
30:49
But what does he know? He just worked for the New York
30:51
Fed right? In a country that's probably the
30:53
most anti gold and silver in the history of the world.
30:57
So the rest of the world is waking up.
30:59
What do we know about the central banks, right?
31:02
Is that why we're seeing this number go up and up and up?
31:06
And I was thinking, you know, at 15% and we're just throwing
31:09
numbers around here. But you know, to get it up to
31:12
let's say 90%, that would be about a six or seven fold
31:17
increase in the price of gold, We would need to see gold at, I
31:21
mean, what's that? That's like $15,000 gold.
31:24
That's where these numbers come from.
31:26
Will we see that day? We don't know, right?
31:30
But does it indicate that the world is to 1° or the other?
31:34
Right. Moving back to a situation, we
31:38
can call it a gold standard or we could call it a situation
31:41
where they're recognizing gold and silver as more of a backing
31:46
for real money, real value. I think it does, right?
31:49
I'll leave it up to you in terms of what your thoughts on are on
31:53
that matter. Oh boy, let's look at we got
31:56
more. Oh, the hits keep coming.
32:01
Let's look at this. This is very interesting.
32:03
This came from us. As you can tell, I, I just
32:05
bought a new laptop. So now I'm being bombarded with
32:07
laptop ads from Zero Hedge Gold versus the S&P 500, which has
32:13
grown more over the last five years.
32:16
And this I believe comes from Visual capitalist.
32:19
There it is right there. Yeah, from Visual Capitalist,
32:22
gold versus the S&P 500, and I'm going to make this smaller so
32:28
you can see it because you might just be surprised when we look
32:33
at it, OK, Gold is, go figure, the gold line, the S&P 500 is
32:40
the blue line. And as you can see, over the
32:44
last five years, gold is up 81% and the S&P 500 is up 76%.
32:54
So gold takes the crown, right? That old Barb, barbarous relic
32:59
that, that, that, that that the Fed wants you to believe is
33:03
worth nothing. Gold takes the crown.
33:06
Let's get back here. We got a lot more still to
33:09
cover. OK, Goldman Sachs came out with
33:13
something that I thought was very interesting.
33:15
We know Goldman is now predicting much higher gold
33:18
prices for the end of the year. But one of their analysts, and I
33:21
think this quote sums it up, said Goldman says that there's
33:26
an unshakable bull market right now in the gold in the gold an
33:33
an unshakable gold market. Why my words are ever had that
33:37
happen where things just don't come out right?
33:39
Let me reread that to you. Goldman says gold is in an
33:42
unshakable bull market. I keep on to say gold market
33:47
bull market. Gold is in an unshakable bull
33:50
market. Gold and silver guys can have
33:56
parabolic moves, no doubt about it.
33:58
OK, gold just broke out of a 13 year consolidation pattern and
34:06
uh oh, big super chat. Somebody gave me a big super
34:09
chat. Oh boy, Susie, if you saw that,
34:11
please let me know so I can say thank you.
34:13
Thank you guys for the Super chats.
34:16
But gold just broke out of a 13 year consolidation pattern.
34:19
We could just be at the very beginning of this big move in
34:23
the gold market and the silver market just starting because I'm
34:29
hearing it from everyone smart and it makes sense to me.
34:33
Does this make sense to you? This is a big critical key
34:38
concept that you need to understand.
34:41
It'll make you feel good about your investment in silver and
34:44
gold. It'll make you see that, yeah,
34:48
3040 fifty, $60.00 per oz silver.
34:52
Gold at 3000. Could be, could, could be very,
34:57
very possible. Gold at 4000, gold at 5000.
35:00
And this is the absolute fact that now everybody's talking
35:05
about the Fed is going to have no choice, no choice.
35:09
And we could go through all types of it was.
35:12
Ben. So thank you to Ben.
35:14
Please. OK, Thank you, Ben for the big
35:16
super chat. Thank you guys. the Super chats
35:18
go a long way helping support the channel.
35:21
So thank you. OK, thank you.
35:23
But the, the Fed is in a, in a position where all they're going
35:28
to be able to do is monetize the debt.
35:31
Chris Marcus texted me last night this little 7 second clip
35:35
from his recent interview with Doctor Jim Willie.
35:38
Where, where, where, where basically he was saying the Fed
35:42
needs the lower rates. the Fed needs to raise rates. the Fed
35:46
needs to do both and, and, and, and as I understand it, and as I
35:50
see it, the Fed's in a position where they can't do either.
35:54
OK, if they raise rates right now, right?
35:57
If they raise rates, it will destroy the government.
36:01
They're already spending, what, a trillion a year on interest,
36:04
right? The debt is growing and growing.
36:05
It'll destroy corporations even more.
36:07
It'll destroy you, right? If you have debt, it'll destroy
36:12
the American consumer. They can't raise rates.
36:15
What do you think about commercial real estate, for
36:17
crying out loud? Thank you, Ron McAdams for that
36:19
super chat. Let's put that up on the screen,
36:22
huh? Thank you, Ron.
36:23
Appreciate that. What do you think's in Saint
36:25
Louis, right? There's a building that sold for
36:28
like $3.6 million that it sold for almost 200 million, I think
36:33
it was in 2018 or 18 years ago. So I mean, do you think they're
36:38
gonna raise rates? They can't.
36:40
But it's not just the United States, cause the whole world,
36:44
the whole Western world and a lot of the developing world is
36:47
in the same position or even worse, right?
36:51
I mean, rates can't really go any higher, right?
36:55
But they can't go lower either 'cause if they lower rates at
36:58
this point, nobody's going to want to buy the debt, right?
37:01
Nobody's going to want, who's going to want to buy government
37:03
bonds if the rates are lower than they are now?
37:06
Hello. Do you have a calculator?
37:08
Right, right. Also, if they lower rates, you,
37:11
the inflation's not going away. This is the way it's going to
37:14
play out. If they lower rates, inflation
37:16
would explode. If you noticed, huh?
37:18
If you know, let's go here. Let's go here.
37:20
This is live, live, live. Bear with me.
37:25
I just read it. I saw it this morning on Yahoo
37:27
Finance. Hold on here.
37:29
Ron's missilean money worth at Yahoo Finance.
37:33
OK, article right. The feds, the Fed is the Fed has
37:39
become nothing but a public relations here it is right here.
37:43
Goolsbee, our old friend Goolsbee, right?
37:46
They're all they're they talk out of both sides of their
37:49
mouth. It's, it's such a joke going on
37:52
right now. I can't Susie, I can't put up
37:55
Ben's super chat 'cause I can never go back and find.
37:59
So Ben, thank you, thank you from the bottom of my heart.
38:02
We recognize that super chat. It's super appreciated.
38:06
If I could, I would put it up on the screen, but I can't go for
38:09
some reason when I go back through the comments, I can't
38:11
find the Super chats. But Fred's Goolsbee says it's
38:14
making sense to wait before cutting rate.
38:18
So now all the Fed, right? Chicago Fed President Austin
38:22
Goolsbee said Friday that progress on inflation has
38:26
stalled. OK.
38:27
And it makes sense to wait. They can't lower rates.
38:30
They can't raise rates, guys. Here's the way this is going to
38:32
play out. And here's how it's going to be
38:34
so beautiful for you and me, right?
38:38
And all of us that are invested in the metals inflation, they
38:44
can't, they can't cut rates. Goolby Goolsbee just told us
38:48
they can't raise rates because I've already explained it to you
38:50
and I won't repeat myself. Don't worry about the
38:53
cataclysmic consequences of raising the rates.
38:57
Inflation, the rates maybe will stay right around where they
39:00
are. But guess what?
39:01
Inflation's gonna go up and up and up.
39:03
And when inflation gets up, up, up, up, up here, that's when
39:07
your neighbors wake up. That's when that's when the gold
39:12
and silver bonanza could potentially occur.
39:17
OK, Hey, I want to say thank you to 1st Mining Gold for
39:20
sponsoring Ron's basement. You can learn more about First
39:23
Mining Gold, a gold development company, development stage
39:26
company with two multi million ounce projects in Canada and our
39:31
friends at Fortuna Silver. You can learn more about them at
39:34
fortunasilver.com. Thank you to all our sponsors.
39:40
Thank you to all the Super chats.
39:42
And Ben, I'll say one more time. Thank you, Thank you, Thank you.
39:45
I'm sorry, I don't think you guys want to watch me struggle
39:49
through here. I just, I don't know where
39:51
starred. Does that work?
39:53
Oh, here it is. Hey, Ben.
39:56
I was able to find it. OK Starred OK.
39:59
And Silver Surfer also gave a $5 super chat.
40:02
Thank you guys. Thank you for lining my pockets
40:06
with a little extra money. It does, on a serious note, go a
40:08
long way in helping support the family.
40:14
Did you need something, Susie? Hello, Susie.
40:17
Did you need something? I'm sorry.
40:18
I was just going to say usually it's at the very top of the top
40:22
chat thing. Yeah, well, it's, it's
40:25
different. I'm using this program called
40:28
Stream Yard, so it's a lot different.
40:30
So you want to say hi to everybody though, so they can
40:32
hear your pleasant voice? Hello everyone, happy.
40:38
Friday, that's Susie. She's texting me last night,
40:41
screenshots of the Kitco Silver and gold quote page.
40:47
Silver, Susie. And I'm going to tell you four
40:49
years ago she could care less about the price of gold and
40:52
silver. So it's very interesting.
40:54
We are Zimbabwe, we are Argentina, we are Turkey.
40:59
Well, maybe not quite right 'cause we are the world
41:03
superpower. We we are the world hegemony.
41:07
But doesn't it feel like it's fading?
41:09
And we know, bottom line, guys, bottom line, the Fed is going to
41:14
have to monetize the debt, OK. And when that happens, right,
41:19
then it becomes even more of a doom cycle, right?
41:25
It's like a snowball rolling downhill.
41:28
And I'm gonna tell you right now what we have in this country due
41:32
to poor decisions, due to greed, right?
41:35
By some, not all, but some of our leaders in Washington, by
41:39
their inability to, to, to, to make tough decisions.
41:44
What we have is a snowball rolling downhill.
41:48
Go look at usdebtclock.org, right?
41:51
Watch the amount of debt continue to grow and the key is
41:55
it's not just growing, but it's growing at a faster and faster
42:00
pace. So are we Zimbabwe, are we
42:04
Argentina? Well, we do have one thing in
42:06
common with them, right? We have a, a problem with, with
42:10
horrendous fiscal management, horrendous monetary policy from
42:15
our Federal Reserve. But there's a big kicker that we
42:18
need to remember, right? A big similarity, but they're
42:21
those countries are smaller than us.
42:23
We'll never have to deal with that.
42:25
I got news for you. The other big similarity #3 that
42:30
we have with those countries would be that we have to abide
42:35
by, like you and me, every person, everyone alive on the
42:39
planet has to abide by the laws of mathematics.
42:43
There's no way getting around the fact that 2 + 2 = 4, right?
42:49
8 + 7 = 15, whether you're in China, Venezuela, right,
42:55
Australia, the North Pole, the South Pole, outer space, no
42:58
matter where you are. I heard somebody say, say it
43:01
like this, right? That not even, not even God can
43:05
change the fact that 2 + 2 = 4. So when that, that gets
43:08
monetized, when we move into that, that phase of what's going
43:12
on, because again, right, the situation's bad.
43:17
But the big thing to remember is it's not getting better.
43:22
It's getting worse, which means you better be happy that you've
43:27
got yourself. How about I ping this old huh,
43:30
silver Shire. I still using that I love Look
43:32
at that beautiful, really a beautiful silver round right?
43:36
You're going to be happy. This will be music to your ears
43:43
that you've got some silver and gold, no doubt about a Bitcoin
43:48
Bitcoin. All this talk, the Bitcoin
43:51
debate is heating up. It feels like again, all this
43:54
news about the halving going on Peter Schiff did is going on
43:59
record still recently really making a strong statement saying
44:05
you better sell your Bitcoin now or quote UN quote.
44:08
Have fun being poor. I'm not anti Bitcoin.
44:12
I'm not pro Bitcoin. I'm just telling you kind of the
44:14
situation as it as it's unfolding.
44:17
Robert Kiyosaki is telling people to buy Bitcoin, but he's
44:21
also telling people to buy silver and gold.
44:24
Is that the same? Did you hear what Robert
44:27
Kiyosaki said about silver? This was a few months ago, but
44:31
it was absolutely shocking, right?
44:34
He called it real money. This was on a tweet and we
44:37
talked about this, I don't know, 3-4 months ago he talked about
44:41
silver going to $60,000 per oz. I mean, Can you imagine that?
44:47
It would be very, very, very interesting.
44:50
You know what? Do you know anybody from
44:51
Toronto? I know three people from
44:53
Toronto. They're really nice guys.
44:55
But let's look at this story. This is the interesting story
44:59
that came out about a major, where is it major gold heist,
45:05
right? And this was a while back, but
45:07
this NBC News 14 and a half million dollar gold heist from
45:11
the Toronto airport results in charges for airline employee and
45:17
eight other people. These guys stole fourteen and a
45:20
half, $1,000,000 worth of gold from the Toronto airport.
45:25
I've been to that airport. I will tell you it is massive.
45:29
Toronto is massive. And the gate that they do the
45:33
flights to Saint Louis, I had to walk so far by the time I got
45:37
there I thought am I already on the like US Canada border at
45:41
this point but none the less I digress that's something very
45:44
interesting. These people sold 6600 gold bars
45:48
worth more than 20 million Canadian dollars All right but
45:53
but let me read this is a funny thing that they did.
45:56
I thought it was kind of interesting.
46:00
The story is sensational one, and which probably belongs on a
46:04
Netflix series. Hold on, that's not the funny
46:07
part. OK, here, let's hear it.
46:11
Let's see how they did it. They finally said how they did
46:13
it. How do you, how do you, how do
46:15
you steal 20 million Canadian worth of gold bars?
46:19
He said the late afternoon, a truck driver arrived at the
46:22
airline's cargo warehouse with a fraudulent bill that was
46:26
provided to an airline warehouse attendant.
46:29
He said that it was a bill for seafood.
46:32
I don't know why I found that so funny.
46:34
Like I'm here to pick up some seafood from the cargo warehouse
46:38
that was picked up the day before and was used to pick up
46:41
the gold. So they used a bill, a pickup
46:44
bill for seafood to get all this gold.
46:48
The duplicate bill was printed off at the Air Canada warehouse.
46:52
They needed people within Air Canada to facilitate this theft,
46:56
blah blah, blah. So they finally caught these
46:58
guys and I guess that's where the story ends.
47:02
I don't see here and didn't read anything.
47:05
They said they melted the gold down and used it to buy guns.
47:10
That's a lot of guns, right? No doubt about it.
47:14
All right, guys, Thanks for being here.
47:16
Thanks for being part of Ron's basement.
47:18
Happy Friday. All right.
47:19
I'm going to look forward to seeing you.
47:22
Yes, you. Next time, don't forget, be nice
47:25
to yourself. You're number one.
47:27
You deserve it. And when we're nice to
47:29
ourselves, it's a lot easier for us to be nice to other people.
47:32
See you.