Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / $100 SILVER in 6 Years (Could be $600)

Transcript

$100 SILVER in 6 Years (Could be $600) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
And a big week in the precious metals markets.
0:03
Gold above $2000 per oz. Can you believe that?
0:08
I'll tell you a quick story. I was on the phone with my
0:10
friend Steve yesterday. He's a fellow investor of mine
0:14
in first mining gold. And he said, man, we really need
0:16
gold to get above $2000. And I checked gold when we got
0:20
off the phone and gold was above $2000.
0:23
Now, what does that mean for silver, especially within the
0:27
context that the world is running out of silver?
0:30
We're going to talk about that in this video.
0:33
We got a lot of great stuff to talk about today, but man, what
0:37
a week for the precious metals, especially gold.
0:41
We don't like to see it on the back of violence and war, but,
0:46
you know, we believe that despite what's going on with the
0:50
war, the value of silver and gold should be much, much
0:55
higher, right? That's part of what we believe.
0:57
That's why you come to the basement.
0:59
We have a lot of fun. You guys are awesome.
1:01
And we got a lot of cool things going on in the Ron's basement
1:05
community. We're going to touch on some of
1:06
those. Thank you, Debron, for this
1:08
super chat, my friend. Super appreciate it.
1:11
But at the end of the day, you believe in silver, you also may
1:16
believe in gold. You also may believe in
1:18
platinum. That's what we're here for, to
1:20
talk about it to to to be prepared for what's coming down
1:25
the road and what we saw last week within the gold market that
1:29
proves to US gold is still an important safe haven asset.
1:34
But guys, there's a lot, a lot more for us to cover.
1:37
Let's dive into silver first. Remember Keith Newmeyer?
1:40
Do you guys remember Keith Newmar?
1:42
He's the CEO of First Majestic Silver.
1:46
He's like the Crown Prince of Whoa, Oh, my gosh, I injured the
1:54
Silver Bear. No, no.
1:59
There we go. Poor guy.
2:04
Oh, everything's falling apart. Hold on.
2:06
Retake, Redo. Stay with me, Susie.
2:12
This is Susie's Halloween sign that's going to be on the floor
2:16
and I'm going to fix why the old Silver.
2:20
Old Smitty looks like he's half drunk.
2:21
Sorry for that, guys. Keith Neumar is the Crown Prince
2:26
of Silver. He's been a proponent.
2:28
He's been your friend for decades.
2:31
He's a successful CEO. He runs First Majestic Silver.
2:36
He still talks about $100 silver.
2:39
Go ahead, you can do it. Throw egg at me, Mick Coin shop.
2:42
Chris and I, we get harassed all the time.
2:44
When we talk about $85 silver, well, Keith Newmar talks about
2:49
triple digit silver. And Keith Newmar knows a thing
2:52
or two about silver running one of the world's largest silver
2:56
mining companies. More on him later, but I talked
3:00
Over the last two weeks, I had extensive conversations with
3:04
CEO's of three other silver companies, Okay, Sean Coon, Coon
3:09
from Dolly Vard, and Silver. They got a huge silver
3:12
exploration project in British Columbia.
3:15
John Lee from Silver Elephant, right?
3:18
They have massive silver deposits.
3:21
And I also spoke just recently with Galen McNamara.
3:24
He's the CEO of Summa Silver. What are all these guys telling
3:28
me right now? Sure, they're silver mining, CE
3:32
OS, but they know more about what's going on in the silver
3:36
market then really people like you and I could.
3:39
I mean that's what they've been doing for decades and decades
3:42
and sure, you know a lot. I'm not.
3:44
I'm not criticizing you or myself, but these guys at the
3:48
tops of these companies have keen insights in the feeling
3:53
that I got from each and every one of them.
3:55
Sure, they all had nuances and how they were looking at the
3:58
silver market, but that we've got bright, bright days ahead
4:02
within the world of silver. Hold on to your silver.
4:06
I'm not giving financial advice. I'm not telling you what to do,
4:10
OK? I'm just giving you my opinion.
4:13
I am a staunch believer in the future of silver.
4:17
Sure. The price of gold skyrocketed.
4:21
Absolutely skyrocketed. Somebody tell Joe gold
4:25
skyrocketed. Okay, right?
4:28
Silver is doing Okay right. We're hanging out around $23 per
4:32
oz. Silvers got some catching up to
4:34
do. You know what?
4:35
The gold, the silver or is it silver to gold, Silver to gold
4:40
ratio is right now. Coin shop.
4:41
Chris and I did some calculations last night, some
4:44
heavy math. If you divide the price of gold
4:47
by the price of silver you come to 87.
4:49
That is historically high. Silver's got some catching up to
4:53
do and I I I know I'm going against the grain when I say
4:59
this, but I think that with gold we are on the road to a new all
5:03
time high. Do you believe it?
5:05
Are you a basement believer? You're a basement dweller.
5:08
That's right. Right.
5:09
You're a basement dweller. When you come here, you're a
5:12
dweller. Welcome.
5:13
You're always welcome here. Please give this a thumbs up.
5:16
But do you believe that's my question for you?
5:19
Do you believe that it can happen That we could go to new
5:22
all time highs in the price of gold?
5:27
Guys, it can happen. I know it feels like it never
5:30
will happen. Because we've been rejected so
5:33
many times. We've covered that Lucy pulls
5:35
the football, Charlie Bronco's flying through the air.
5:37
That's the gold and silver investor.
5:40
But that will change, right? It will change.
5:44
I was reading this morning something very interesting.
5:47
I didn't even realize all the countries.
5:50
It was a list of all the countries that have had new all
5:53
time highs in the gold price. China, India, Japan, Australia,
5:59
I believe Canada was on there as well.
6:02
The world is experiencing new all time highs in gold in
6:06
America, right. the US dollar will be next because is the
6:10
dollar in great shape? Yeah, right.
6:13
Is the US government? Yeah.
6:15
Right. It will only be a matter of
6:17
time. Thank you, Tony.
6:19
Thank you, Thank you, thank you. And the feeling I get when I
6:22
talk to these CEOs, I'm blessed. I feel fortunate.
6:26
I get to spend time talking, I suppose, with Dan Wilton, the
6:29
CEO of First Mining Gold, within the last two weeks.
6:32
Man, I've been talking to a lot of CEOs.
6:35
They're good people. They're normal people just like
6:37
me and you, OK, There's no difference, right?
6:40
No difference. You're as important as any CEO
6:44
out there. But these people dedicate their
6:46
lives and have dedicated their lives to study, and they're all
6:50
everybody's of the same opinion. I was also with some of the top
6:54
precious metals analyst from Toronto just a few weeks ago.
7:00
I'm telling you, man, everybody knows what's going on.
7:05
Everybody knows it's going to be super, super interesting.
7:10
I don't have any big inside information, right?
7:12
I'm not. But I'm telling you, the feeling
7:15
that they see when they talk is the same feeling that you're
7:18
getting as well. Don't forget to please give this
7:20
a thumbs up. I'm going to beg you.
7:22
All right, It feels good. There's 200 people on here
7:24
already. My gosh.
7:27
Thousands of people will watch this live stream as well.
7:31
I want you to know that thousands and thousands of
7:34
people, we are getting the word out.
7:36
The channel continues to grow. We've got some crazy fun things
7:40
coming down the road. Don't forget the Black Friday
7:42
giveaway. OK, there's a there's a link in
7:45
the description. Don't go now, but go later.
7:48
There's a link in the description of every every
7:50
video. We got a big silver giveaway and
7:53
some gold backs on Black Friday. We're doing another big giveaway
7:56
on Christmas Eve Eve. OK, that's going to be linked to
8:00
our new website, which is going to have a forum for you.
8:04
A place where you can go 24 hours a day. right.com.
8:07
Don is working on it. We got this guy named.com.com
8:12
Don. He's putting together a super
8:15
slick forum where basement dwellers can unite anytime.
8:18
Thank you, Craig. Basement dwellers.
8:24
I promise at some point I'll get some T-shirts made-up too, and
8:28
we'll make them ourselves and make them a little more
8:30
affordable, Right, Basement dweller?
8:33
OK, I'm sorry, Silver. Gold too.
8:38
But now we're going to talk about silver.
8:39
When I talk about gold, I'm talking about silver.
8:42
When I'm talking about silver, I'm talking about gold.
8:44
None the less. Silver.
8:46
Don't you forget, don't forget, right?
8:48
It's easy to get, get, get in the weeds and in the minutiae of
8:52
everything. All right, don't forget, we got
8:55
to remember the foundation. There's, it's finite.
8:59
Finite. Not infinite.
9:01
Finite. Not infinite.
9:03
Finite. There's only so much silver on
9:07
the face of the earth. Whatever you're holding right
9:09
now at your house and what you have on your person, what you
9:12
have is an investment, right? That's part of this amount
9:16
that's on the earth. It's not people.
9:19
Somebody brought that up to me the other day and kind of busted
9:22
me, gave me a hard time. And I'm like, you know what?
9:24
I'll mention it during the live stream.
9:26
I listen to you. I listen to you that we forget
9:30
to talk about the fact that there's only so much silver,
9:32
only so much gold on the planet. OK, you can make you can make
9:37
dollars infinitely. You can make electronic dollars
9:42
infinitely. You can make Comex futures
9:45
silver contracts almost infinitely.
9:48
Coin shop Chris is repeatedly throwing virtual Ding dongs at
9:52
me. I will ring the bell in a
9:53
second. Don't you guys worry.
9:57
We ring bells when we get to 100.
9:59
Thumbs up. It looks like that.
10:02
I ring the bell 10 times and I'm gonna do that in a second.
10:04
Okay. But there's only okay though.
10:06
There's infinite amount. Unicorn fart dust.
10:10
Basement dwellers know what Unicorn fart dust is?
10:13
Yeah, that's paper money. That's electronic money.
10:17
That's cryptocurrency. Anything that can be made
10:20
infinitely. There's a finite amount of
10:24
silver and a finite amount of gold.
10:26
So, George, like I promised you, I wanted to remind our fellow
10:30
basement to others. That's something in which we can
10:32
rejoice whatever amount of silver you have.
10:35
Right. Hold a piece right now.
10:37
Here, I'll. I'll do it with you.
10:39
Here's a piece. Oh, here.
10:41
Here's a one ounce coin that was sent to me by my friend Coin
10:43
Shop. Chris.
10:45
Right. I'm holding that.
10:46
That's a part of a limited amount of silver that's on the
10:51
planet, all right? That's important for us to
10:54
remember to rejoice. Now let me go ring the bell. 10
10:58
* 1 time for each thumb up, we got to 117 thumbs up.
11:03
So we're going to ring the bell 11 times.
11:05
If I come back and we're at 120 thumbs up, I'll ring it 12
11:08
times. We got to 122.
11:17
All right guys, 123456789101112. Sorry I rang that so close to
11:27
the microphone. There's some people that get
11:28
sensitive and I really will try not to be so close to the
11:32
microphone. I forgot about that.
11:33
I apologize. Don't become an ex basement
11:36
dweller over it. All right, back to Silver.
11:41
Oh, we got these great graphs that are going around.
11:43
Have you seen these graphs, these charts going around?
11:46
Apparently we're going to be out of silver by the year 2030.
11:52
OK, It's making its rounds in the Silver community.
11:55
They're saying then I don't know how they calculated it, but
11:58
they're saying I got a video coming out about it.
12:01
Just keep your eyes peeled. Show the chart right that Silver
12:05
is going to be gone by the year 2030.
12:08
Interesting. And then there's this other
12:10
chart going around, this other infographic, right, that says by
12:15
the year 2050, the solar panel industry photovoltaic
12:21
photovoltaics. But that, you know, we we're
12:23
going to be sophisticated photovoltaics will consume 98%
12:29
of the world's silver. What do you think?
12:33
I mean, like, no, they don't know for sure.
12:34
Let's be real, right? But what we, what we can gather
12:37
from those two data points is #1, there's not a lot of silver,
12:42
there's less and less silver being produced every year by the
12:46
silver mining, mining companies. I can tell you that because I
12:49
talked to the CEOs, They tell me, Ron, we can't, we we don't
12:54
know where the silver's going to come from.
12:57
Have you noticed a trend? Right.
12:59
We're talking about silver. This affects the price of
13:01
silver. But have you noticed a trend?
13:03
Because I have. I follow it closely.
13:06
A lot of the big silver mining companies have pivoted.
13:09
I hate that word. Hate that word.
13:11
Pivot. They pivoted.
13:12
People were using that like three years ago.
13:14
Every other sentence on CNBC. The little bit that I watched
13:18
CNBC anyway, they pivoted from silver to gold, right?
13:22
America's gold and silver. Tried it.
13:25
Even First Majestic bought a big gold mine.
13:28
Fortuna Silver has really successfully pivoted to making
13:33
to producing a lot more gold. Right.
13:35
They got this massive successful project going in Africa.
13:38
Who are the other ones? There's a whole list.
13:40
They all because silver for silver miners.
13:44
There's there's they're not making any money, right.
13:47
They're struggling to survive right now.
13:49
And what is that new silver. Oh, did I lose you?
13:54
Can you see me? Oh no, not this again.
13:58
Oh boy, did I lose you. Give me a 5 by OK, Woo.
14:02
Thank you. I went through a period of time
14:07
where, like for a week, the power went out and everything
14:09
else. Anyway, they aren't investing.
14:13
OK? Silver is the remember, there's
14:16
only so much on the planet. We covered that already.
14:18
And it gets consumed. Most of it gets consumed and
14:23
there's now less and less being mined and produced.
14:27
OK, think about that. Last year, there was less silver
14:31
produced in 2022 than there was in 2021.
14:34
And the pipeline, right, Because every time a mining company digs
14:39
up an ounce of silver and then it gets put into a bomb or a
14:42
satellite or a cell phone or a solar panel or an electric car
14:46
or, I don't know, whatever electric toys you like to play
14:49
with, we won't go there. Nonetheless, it gets consumed,
14:53
right? There's only so much on the
14:54
planet. There's only so much that the
14:57
mining companies have. They can't find any more, so
15:00
they got less and less. They're producing and they
15:03
aren't looking for much more. There's only a handful of
15:06
companies that are looking for. That means good things for you
15:10
as a silver investor in the future.
15:12
I mean, maybe I'm wrong. Whoa, B dog.
15:15
Thank you for the Super chat, my friend.
15:18
Thank you. That's awesome.
15:19
I feel very spoiled and I much appreciate that.
15:23
But but I don't know. It can only mean one thing for
15:27
the price of silver in the future.
15:30
Correct me if I'm wrong. Do you Do you agree?
15:33
If you. If you agree, say yes.
15:36
If you disagree, say no. Because you know you're my
15:38
audience. It's important that I know what
15:40
you're thinking. Woo.
15:49
Yes, yes, yes. Dang.
15:51
B Dog. Yes.
15:52
Thank you, B Dog. Thank you.
15:53
Canadian Silver Surfer. Yeah, We got a lot of exciting
15:58
stuff going on, guys. Hey, and while while we're on
16:02
that matter, let's all say thank you to our sponsor, Pimbex.
16:06
I can't do this financially without help from sponsors.
16:09
Pimbex helps support the channel.
16:12
They make this possible. They make this community
16:14
possible. Online bullion dealer.
16:17
If you're looking to buy some silver or gold or platinum, go
16:22
check out Pimbex. OK, Pi, MB EXI think what you'll
16:28
find, but you need to find this out for yourself, is that
16:31
they're trustworthy. They have the best prices, they
16:34
have great selection, they have great customer service.
16:37
You know, the guys that run the company are top notch.
16:40
OK, I've gotten that. I've been working with them for
16:42
10 weeks and I told them this the other day.
16:45
I said, honestly, I've never heard anyone e-mail me and you
16:49
guys send me a lot of emails saying anything negative about
16:53
Pimbex. OK, I really I I can, I can.
16:56
Look, I'm never going to lie. I will only take sponsorships
16:59
from companies that I've worked with.
17:02
And I bought silver from Pimbex before they sponsored the
17:05
channel. OK, I only work with companies
17:08
that I believe in first mining gold.
17:10
I own that stock for years. OK, all right.
17:13
You know that, right? Weber seasonings.
17:16
I, I don't talk about them enough, but I've used them for
17:18
years and I love them. As a matter of fact, I made some
17:21
unbelievable roasted potatoes a couple weeks ago with this
17:25
Parmesan garlic seasoning that Weber had given me to try out.
17:30
And man, they were good. And then they made me think,
17:32
like, do you guys know who Abram Taylor is?
17:35
He's a kind of a well known guy in the community.
17:38
He is an investor in gold back like a big investor and his
17:43
family. He was telling me up in Idaho,
17:47
farmed like 30,000 acres potato farmers.
17:50
I thought, I need to have Abraham on.
17:51
Bring me some like top notch potatoes and we'll talk gold
17:55
back potatoes and I'll make my famous seasoned potatoes.
17:59
Wow, I got off track. I'm sorry, I'm sorry.
18:02
Let's get back on the gold. OK, OK.
18:05
Fewer exploration things going on.
18:09
Oh that doesn't even, let's just let's just talk about one more
18:13
good positive thing when it comes to the silver market and
18:17
gold market. But with silver market we talked
18:19
about what's going on with the miners in the supply of silver.
18:23
But guys we're not even factoring in when everything
18:26
blows up Armageddon, right. Armageddon is worst case
18:30
scenario, OK, when the when the economy blows up if social order
18:36
were to blow up and demand if the banks blow up and demand for
18:41
silver and gold skyrocket. All right we know I I have to
18:45
talk about this almost every day because I think it's so
18:48
pertinent for us to understand in the context of what we're
18:51
dealing with when it comes to the precious metals.
18:54
We know what happened in March and April and that was that was
18:58
kind of a micro Black Swan that was like a Gray swan.
19:02
Remember when when Silicon Valley bank and First Republic
19:05
Bank and all we know what happened to the precious metals
19:08
markets they they the the the bullion dealers had record sales
19:14
like unbelievable sales you couldn't find.
19:17
So we know what can happen. We know where the where the
19:21
where the where the economy is heading right now.
19:24
It's undeniable where the economy is heading right now.
19:29
the United States government this is this is this is crazy.
19:33
OK, we have 33 trillion in debt, 16 trillion. 16 trillion.
19:41
And then I got something real crazy about trillions we're
19:44
going to talk about. But 16 trillion excuse me,
19:49
dollars of debt needs to be repaid in the coming one year.
19:56
16 trillion. Where in the world, pardon the
20:01
pun, is the money going to come from for the US government to to
20:07
because the government can't really pay that off.
20:10
They have to then re borrow that money.
20:13
But there's one little problem, one little bitty bitty problem.
20:16
Janet Yellen, all that 16 trillion that you need to re
20:20
borrow. The last time you borrowed it,
20:23
you were only paying one or two percent interest.
20:25
Now you're going to be paying 5 or 6% interest.
20:29
It is absolutely, absolutely crazy.
20:33
And that's why that's why let's let's let's.
20:37
I'm going to, I got so many crazy facts to share with you.
20:40
But that's why. OK, Next year, it's now
20:44
projected that the interest expense on the national debt
20:47
alone is going to be over $1.2 trillion.
20:52
OK, think about that. Peter Grandich always tells me,
20:54
like, in the 80s, nobody knew what a trillion even meant or
20:59
was, right? It's like quad.
21:01
It's like if I say to you now quadrillion, I think that's the
21:04
next thing after trillion. You're like, what's a
21:06
quadrillion? Well, let me tell you what a
21:09
trillion is. OK, This came from one of the
21:11
viewers. I listen to you.
21:13
You're important, right? And don't forget we're going to
21:15
have this. Cool.
21:17
I don't know what we're going to call it, the basement beacon,
21:20
the basement banter, but we're going to have this cool place
21:23
where we can all go 24 hours a day to talk.
21:25
But nonetheless, nonetheless, trillion.
21:28
OK. And this came from one of you
21:30
pointed this out to me. A trillion is a million.
21:34
Million. And you know, honestly, I didn't
21:37
check that. But if that's the fact, that's a
21:39
million million. So think that's a trillion.
21:44
Mind boggling. So the Fed is going to be in a
21:48
position, OK, now there's something else going on, all
21:52
right. We're going to put in our
21:53
complicated hats. We're going to learn a little
21:55
bit today, basically. And you can dig into this more
21:59
if you want, but everybody's like, who's been buying the debt
22:04
now? The the the the the Fed has this
22:06
little like secret ish facility that they've been running called
22:11
the reverse repo facility, which allowed banks to park trillions
22:16
of all that money that was printed during the the cough
22:19
cough crisis back in 2020. They were all the banks that
22:24
parked all this money with the Fed trillions of dollars.
22:27
OK, because the Fed would pay him like 5% interest.
22:31
Well, now what's going on is the Fed is is making them take money
22:35
out of that, essentially by lowering the rate that they'll
22:38
pay the banks to keep this money at the Fed.
22:41
Don't don't let this spin your head too much, because there's a
22:44
there's a pretty simple to synthesize this for you.
22:47
At the end, they're pulling their money out of this Fed
22:50
program, and what are they buying?
22:52
They're buying treasuries with it, OK?
22:55
Because now they can get more interest.
22:57
They can get five, 5 1/2 percent on the treasuries.
23:01
So it's incentivizing the big banks to take that money out of
23:05
the reverse repo program and buy treasuries.
23:08
There's just one problem. That money is running out
23:12
quickly, quickly, quickly. OK, some people say by January,
23:17
some people say by March, April at the latest, in the summer,
23:21
that money is going to be gone. So then, who's going to be
23:24
buying all these treasuries when Janet is trying to sell the 16
23:29
trillion, probably 18 or 20 trillion by then?
23:32
Because the deficit's growing as well.
23:35
It could make interest rates go. It could be a sovereign debt
23:39
crisis. Now what does that mean?
23:41
That means that that sovereign debt crisis is not a good thing
23:45
in the United States. Not at all.
23:48
That means interest rates could skyrocket while at the same time
23:51
the value of the US dollar goes down.
23:54
Because aren't we at kind of a potential precipice right now?
23:58
This is just math, right? The Wizard of Oz.
24:02
And maybe they'll pull something new off.
24:04
They will be prepared, right? Right.
24:07
Be prepared. Because the the Jerome pound,
24:10
the Federal Reserve will have some other other smoke and
24:13
mirror or something they're going to.
24:14
But it feels like the world is calling the bluff.
24:18
It feels that way. I think a lot of people are
24:21
seeing right now. The world is calling the bluff.
24:24
Now we're going to get some news this week from our friend
24:29
Jerome. This week could be huge, another
24:32
huge week for the precious metals.
24:34
There's pretty much like a 97% chance.
24:37
Did you know this, that the Fed is not going to raise rates on
24:41
Wednesday, November 1st, the day after Halloween, right.
24:44
And by the way, Susie's, Susie's playing a little game with you
24:47
guys called Hide the Mini Pumpkin.
24:50
So whoever can find the Mini Pumpkin first, you're the
24:52
winner. I don't have anything to give
24:54
away today, but you're the winner.
24:55
Winner. Chicken dinner.
24:57
I don't know. If you want to send e-mail me a
24:58
picture of yourself. I'll put you on the community
25:00
page as the winner of the mini pumpkin thing.
25:04
You guys can moderate this for yourself.
25:06
Anyway, I'll put you up on the community page.
25:10
I'll say basement dweller big winner none the less.
25:14
Wednesday is going to be a huge day.
25:15
Be prepared. Be buckled in.
25:17
Because while we probably won't get an interest rate, any
25:21
shocking news and interest rates?
25:24
Bop, bop, bop, Jerome, You know what?
25:27
I haven't had Jerome. Do you guys want to see Jerome?
25:30
Huh. Thank you, Jake's custom parts.
25:32
Thank you. Coin chop, Chris.
25:33
Thank you, Jim. And thank you, Annie Oakley.
25:35
Man, you guys are the best. The Weber bear.
25:39
Yes, that's right. Whoever got it first JM, send me
25:42
a picture. I'll put you on the community
25:44
page, if you like, as the big winner of the day nonetheless.
25:48
Nonetheless, should I get Jerome out?
25:50
Do you guys want to see Jerome? It's been a while since we've
25:53
seen our old friend Jerome Powell.
25:56
Are you ready to see Jerome? Oh, and he says no.
26:01
Sorry, Annie. He's coming out on Wednesday.
26:05
We're going to hear from him. There he is.
26:08
Hi, everybody. I'll see you on Wednesday.
26:11
And I'll be screwing with the precious metals market, so be
26:15
prepared. I don't know the man.
26:23
I'm waiting to hear back. I've invited Jerome Powell to
26:26
the basement for an interview where we could ask him some
26:28
serious questions. OK.
26:30
I mean that Jerome, I'm waiting to hear back regarding our
26:34
upcoming interview. Nonetheless, he's going to move
26:36
the markets on Wednesday. It's not going to be what they
26:40
do. It's going to be what they say.
26:43
Now we've talked about this. What's more important is that we
26:47
pay attention to what they do. Because what they say is a bunch
26:54
of Unicorn farts. Dust.
26:57
On top of that, the Fed. Whatever they say, it's again,
27:01
it's like the Wizard of Oz. It's manipulation.
27:04
It's smoke. It's mirrors.
27:05
It's look over here. Look over there.
27:07
We're gonna it's like, it's like psychological operations.
27:10
They're pulling on the US economy.
27:14
OK, watch what they do, not what they say.
27:19
Everybody else will do the opposite.
27:21
What do they say? Oh, the Fed will.
27:23
How would? Oh, look, they changed this one
27:25
word in the statement and that, you know, that's all short term
27:30
noise. If we get clobbered this week.
27:32
And maybe we will, right? Maybe we will get clobbered in
27:35
the precious metals. It can happen.
27:37
OK. I don't think it's going to
27:39
happen, but it could happen. I think I, I, I'm, I, I have a
27:44
feeling that we're into a the new paradigm, the new
27:49
environment for the metals, a new floor.
27:52
I could be wrong. Don't you make any financial
27:55
decisions based upon anything that I'm saying here today.
27:58
But I feel like we're in a new, but we're going to watch what
28:01
they do, not what they say. Because what he says is a bunch,
28:04
a bunch of BS. And don't forget they're getting
28:07
to a point, right. They're getting to a point where
28:13
next year, OK, I can't even imagine where we're going to be
28:17
next year right now. Make sure you're prepared
28:19
monetarily and emotionally for what's going to happen.
28:23
But, but it's going to be a point that the Fed is going to
28:28
be get to especially when this reverse repo money runs out and
28:32
they're. And they're dealing with an
28:35
untenable amount of debt, unmanageable amount of debt
28:40
where they're going to have to decide between killing the
28:43
economy and basically printing more money.
28:46
Yield curve control. It's a fancy word right that
28:49
talks about keeping the long term interest rates down that
28:53
type of thing. It's going to be absolutely
28:55
crazy. We can't let this die.
28:58
I I'm sorry, I don't want you to be mad at me, basement dwellers,
29:02
but I just can't let this die because I believe this is one of
29:05
the biggest indicators, symbols that a year from now or three
29:12
years from now I'm going to be able to say I told you so I'm
29:16
often wrong, but I was right about this and that is the
29:19
Costco indicator. I got an e-mail from one of the
29:23
viewers showing me that Costco is once again selling gold.
29:27
But what's interesting now is they were now selling Rand Rand
29:31
gold bars like there. I think before they were, they
29:35
were Credit Suisse bars. Costco continues to capitalize
29:40
on this huge demand for gold. And I'm telling you, I'm telling
29:44
you it's the, it's the first sign, it's the absolute first
29:48
sign of what's to come for demand for precious metals in
29:52
the United States. I mean that in that we can talk
29:57
about all the fundamental reasons why silver and gold are
30:02
valuable, right. They're finite.
30:04
The world loves them. They've been around for
30:06
thousands of years. You know all that, OK.
30:09
But when we see the people in the richest country in the
30:13
United in the world, the United States, wake up, wake up,
30:18
because basement dwellers have. We're all woken up, right?
30:22
You're woken up. We know what's going on.
30:25
OK, we had pulled, pulled our head out of the sand.
30:28
But when our neighbors and relatives start to wake up,
30:32
that's what's going to be a catalyst like we've probably
30:35
never seen before when it comes to demand for these metals.
30:40
Absolutely. You know, I was talking to the
30:44
executive team at Pinbex yesterday morning about what
30:49
could happen when we see you know, because they have a good
30:51
feel for demand. And by the way, the all the
30:54
indications I'm getting from coin shop, Chris and from other
30:57
contacts including the guys with Pinbex's at sales of metals are
31:02
still very robust. They're still them and you know
31:05
there's there's a a real steady strong demand in the retail
31:10
community to buy precious metals.
31:12
And and I hadn't thought about this, but part of the reason why
31:17
when we have these Gray swan events or Black Swan events and
31:21
people rush to buy more metals like once all the all the
31:26
inventory is gone at your local coin shop or your online bullion
31:31
dealer, the refiners and the mints, that's a bottleneck.
31:35
They just can't keep up. I mean that's why there's only
31:38
right now think about it, there's only so much inventory
31:42
at your local coin shop and other local coin shops around
31:45
the world. There's only so much inventory
31:48
available at all the big online bullion dealers.
31:52
Once that gets wiped out, OK. The mints, they aren't very
31:56
flexible in terms of their ability, the refiners and mints
32:00
to produce more, OK. We could see not only massive
32:04
price increases, OK, And that. And you know, Pat Holland talks
32:09
about this all the time, man, I love Pat.
32:11
He's a smart guy. Price increase in the metal,
32:14
like price discovery in the metal.
32:17
You know, like maybe silver goes to where it should be at minimum
32:21
right now, $35 per oz. But that premium on top of it,
32:26
and we've seen this, we've had a taste of it, could really
32:29
explode, really explode. I wouldn't be shocked if I'm
32:35
going to go out on a limb and this is all this is new
32:37
territory for me and I'll be curious to see.
32:40
Send me an e-mail, let me know what you think.
32:42
But I wouldn't be surprised if things play out even half as bad
32:46
as a lot of us think. They could play out That we
32:50
could see premiums at 100%. Throw eggs at me, throw Ding
32:53
dongs at me, Throw whatever you want at me.
32:55
Please give us a thumbs up. That really helps and we get to
32:59
200. I'm going to ring the cowbell
33:01
for you, man. I know what a big special treat
33:04
I don't. I I think we could see 100%
33:07
premiums because of what we talked, because of all the other
33:10
factors plus the fact that that when it goes this time, it's
33:16
really going to go in the mints and refiners aren't going to be
33:20
able to keep up. So we're going to see premiums
33:24
and that is what Pat Holland says, that's the real price.
33:28
That's the real price, right? I mean, if you got to pay, you
33:32
know, $26 an ounce right now to get an ounce of silver, that's
33:36
the real price, guys. The Comex price is make believe.
33:41
We know that. OK.
33:43
All right. Remember that the real price is
33:46
what the price is in Those premiums could easily go to
33:50
100%, right. That's why if you want to get
33:53
some metal, you want to get it. Now I got to ring the cowbell.
33:56
You guys ready? I'm not going to ring it too
33:58
close to the microphone. Maybe just once.
34:00
I'll get close, we'll put the cowbell with
34:17
Smitty and the silver bear. How's everybody doing?
34:21
Basement dwellers. Basement dwellers.
34:24
Tony Erickson's here. Chris Wallin.
34:26
We can see gold being tokenized, which will skyrocket all
34:30
commodities. Yeah, yeah.
34:32
People get all mad and I bent out of shape with me.
34:35
When I talk about I'm a proponent of digital gold.
34:39
Yeah, I love I I'm not saying crypto.
34:42
No, I'm I don't. I personally, I don't like
34:44
crypto, 'cause you can make crypto.
34:46
I'm a proponent of digital gold. I'll tell you why.
34:50
If if if the token associated with the digital gold is 100%
34:59
redeemable for real metal, and that's what states like Texas
35:03
were talking about doing, that's what Zimbabwe is talking about
35:07
doing. If it's redeemable and it's
35:09
transparent and we know it's audited, it's regulated that for
35:14
every if there's 100 tokens out there, there's 100 ounces of
35:18
gold backing it up. And if that person that has that
35:21
one token, once they're gold, they can show up and redeem
35:25
their token for gold, right? But they could use that token
35:29
for everyday transactions, however you want to say it.
35:31
I'm not a guru in that area, but I know there's a lot of work
35:34
going on. And the reason why I like that
35:36
is, number one, that doesn't mean that you can't still hold
35:41
physical metal at your house or wherever you want to hold it.
35:44
OK, doesn't disqualify that. But what it does mean is that
35:48
gold and silver could be used for everyday transactions all
35:52
around the world. And as that catches on, thank
35:55
you, Count Derpula. I don't do creep toes.
35:59
Yeah, I don't do creep toes either.
36:01
But it could create massive new demand for the metals.
36:05
And we know. Thank you, Cal Derpula.
36:07
We know the world is demanding so much more gold.
36:11
The central banks, everybody, everywhere.
36:14
This limited quantity and and and and the future for us, the
36:18
future for US precious metals investors looks very, very, very
36:23
bright. Let's talk about the mining
36:25
stocks, man. And how does that impact the
36:29
price of the metal? Well, I'm going to tell you
36:31
something right now. The mining stocks have not
36:34
benefited from this recent run up in the price of gold.
36:37
Now, there could be a big warning here.
36:40
OK, I'm going to talk about something you may not want to
36:42
recognize. So.
36:44
So you know, if you're real sensitive and you don't want to
36:46
hear a potential negative for the metals prices, stick two
36:50
fingers in your ears. I'll be I'm going to have a
36:53
drink of coffee and be right back.
36:59
The precious metals mining stocks.
37:00
Despite the fact that gold has skyrocketed above $2000 per oz,
37:07
the precious metals mining stocks have been like big deal.
37:11
They've they've really, really have not gone up.
37:14
OK, minuscule if best some of them even down.
37:19
They're waiting. Here's what they're doing.
37:22
They're waiting to see if this recent you know we've had gold
37:27
go up like I heard somebody $180 in the last two or three weeks.
37:32
I mean it's been a big massive increase in the gold price.
37:35
They're waiting to see if this was just a a knee jerk reaction
37:41
to the unfortunate situation. Thank you, Dana.
37:44
That that's unfolded in the Middle East.
37:46
Well, we also have a war. War you guys like now.
37:50
I don't say war anymore. I say war.
37:53
Susie threatened me none the less.
37:57
Is the price of gold up just because of this knee jerk
38:01
reaction? And will it fall right back down
38:05
once everything simmers down in that area?
38:08
That's what the gold mining stocks are saying right now.
38:11
That's what I'm hearing from the top analyst from my contacts.
38:15
But but here's the good news, right?
38:19
I don't know that it's a foregone conclusion that gold
38:22
will pull back, you know? And silver's kind of waiting
38:25
there as well. Wow.
38:26
Thank you. Thank you.
38:27
Mr. Shovel 1968. Man, I am spoiled today.
38:32
I, I I don't, I don't know that that's the case that we have
38:36
just this absolute knee jerk reaction to the silver price and
38:40
gold price because of the of the horrible situation that's
38:45
unfolded. Guys, at some point that the
38:48
fundamentals matter the the facts matter and the facts that
38:53
we know that support the silver price and gold price indicate
38:57
that we should be much, much higher.
39:01
I'm hearing people talk about $3000 gold again next year.
39:06
OK, remember that was that was supposed to happen in 2023.
39:11
So you'd think, well, you know maybe we're just a year late can
39:15
where where would silver be? All right, where would silver
39:19
be? Let's just say, let's just say
39:22
we had $3000 gold. I could see silver at $40.
39:27
I really could. I think it can happen.
39:28
I know it could happen. But one thing I know for sure, I
39:32
am spoiled rotten to have such an awesome community of people,
39:37
right? You're part of that community
39:39
right now. It's a big deal, right?
39:42
There's only one you. But you and me and everybody
39:47
else, we are part of this community of people that love to
39:51
talk about precious metals, love to be aware of what's going on
39:56
out there in the world because there's a lot going on.
40:00
Can you imagine? I I mean, if you and I had known
40:04
each other five years ago, I wish I'd known you longer.
40:07
But I'll take what I got right now that you're here with us
40:09
right now. But if five years ago?
40:13
Yes, I was five years younger. So were you better looking, all
40:16
that good stuff. But we had we'd said we're going
40:19
to have, we're going to shut the world down in the year what that
40:23
would be 2018 November we're talking we're going to shut the
40:26
world down really. And 2020 we're going to shut the
40:32
world down. We're going to have a full blown
40:34
war in Europe and the United States is going to be involved.
40:41
Oh, and by the way, then just a couple years later guys, we're
40:45
going to have a full blown war going on.
40:49
Horrific situation in Israel and Palestine.
40:55
If I told you if I'd, if I'd, if I'd have known you five years
40:58
ago, let me ask you this question because I don't know
41:01
that I would be able to say yes to this question.
41:03
If I'd met you five years ago and I'd said hey and maybe you
41:08
were into silver and gold back then.
41:10
I was. And even then if I'd said, hey,
41:12
what do you think about Bricks? I don't know that if you'd asked
41:16
me that question that I would have known much.
41:18
I I think I would have known what Bricks says.
41:20
Yeah, that's Brazil, Russia, but not the implications in the
41:25
bifurcation and the and the gross separation that's going on
41:31
in the world right now. But remember, right, we want to
41:35
protect ourselves. We're going to protect ourselves
41:38
from Unicorn fart dust. You We need a Unicorn fart dust
41:41
mask. And the filter on that Unicorn
41:45
fart dust mask happens to be made out of silver and maybe
41:49
some gold as well, right? Because what's going on with
41:53
this massive change in the world is only beneficial to the
41:58
precious metals. I love this statistic.
42:02
I forget. I forget who I was talking to.
42:04
Oh, it's somebody I work with. I have a little job at night and
42:07
get to talk to some nice people. And her boyfriend is from India.
42:11
OK, she has a new boyfriend. Well, it's been with him for a
42:13
year. He's getting his PhD and I and I
42:16
asked her, this is interesting. This has to do with gold.
42:19
And then I'll, I'll, I'll try to finish the other thought that I
42:22
had. But I asked her, I'll call her
42:26
Elizabeth because I don't have permission to talk about her
42:29
because her boyfriend's from India.
42:30
I said. I said, does he does he ever
42:32
talk about gold? And he's getting his PhD in
42:35
finance. OK.
42:36
Her boyfriend. And he's from India.
42:39
Oh, she said, oh, yeah, all the time.
42:41
And I'm like, if you picked up on the fact that Indian people
42:44
feel differently about things like gold, she's like, yeah, you
42:48
know, she's like, it's really interesting.
42:51
I'm like, yeah, isn't it like people?
42:53
OK, That's right. The fact.
42:54
And then I told her, I said I'm going to make up a name because
42:59
I just don't feel right. But her name I'm say Elizabeth,
43:02
but her real name starts with I. Anyway, I said Elizabeth.
43:05
So did you know that the population of India is 1.4
43:09
billion people? Who your maybe future husband,
43:12
that country he's from? I said, did you also know that
43:15
the population of China is 1.4 billion people?
43:20
And then I said, did you also know that when you combine the
43:24
armies of India and China together, that they have,
43:29
they're, they're out. When you combine the size of
43:31
their armies, the number of soldiers they have, it's more
43:33
than the entire United States of America, the entire population.
43:39
I mean it's mind blowing guys. It's absolutely mind blowing.
43:44
And and that all those people love silver and gold in those
43:49
countries. India bought 300 million ounces
43:54
of silver last year. How many did you buy?
43:57
Right, 300 million, like 38% of the world's silver production,
44:03
right. India also has 25,000 metric
44:06
tons of gold just at their households.
44:09
Three times what we have at Bart Knox supposedly here in the
44:13
United States of America. That doesn't even factor in
44:17
China who's buying more gold and is the number one that they
44:20
don't. Not only do they produce more
44:22
gold, they're the number one producer of gold.
44:26
They also are buying it hand over fist.
44:29
And on their internal market, the Shanghai Gold Exchange, it
44:32
sells for 6% more right now than it does in, in, in, in in the
44:38
United States on the COMEX and the LBMA.
44:41
What is going on? The other big thing to remember,
44:44
and I'm hearing this, this is simple.
44:47
It was very important for you to understand this though.
44:51
Oil all I had, this teacher in grade school would say all oh,
44:56
he's bugged me all. Oil is the lifeblood of the
45:00
world economy. The oil market dwarfs the gold
45:03
market. The oil market really dwarfs the
45:06
silver market. OK.
45:08
Something interesting and it has to do with silver and gold.
45:16
They're basically selling oil for gold.
45:19
Now there's the Petro yuan contract the Chinese are selling
45:24
or I have a market where you can sell oil for yuan.
45:30
OK. But they also have an adjacent
45:33
market where you can immediately convert your yuan into gold on
45:38
the Shanghai Gold Exchange. Oh, and by the way, that's at a
45:41
higher rate than the than the. That's a big deal.
45:45
And the reason why. The reason why is because
45:49
because the oil market dwarfs the gold market.
45:52
The oil market will determine will be the driving force in
45:57
that oil, gold relationship. Well, guys, I'm about ready to
46:02
have a coughing attack. Thanks for being here with me in
46:05
the basement. It's a big deal.
46:07
I appreciate you being here. You're #1.
46:10
It's not Ron Tube. It's YouTube.
46:12
I'll see you soon.