Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / Precious Metals PRICES Can Explode like THIS in USA?

Transcript

Precious Metals PRICES Can Explode like THIS in USA? · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
The silver and gold markets will have big news next week when the
0:04
Federal Reserve and our old friend Jerome Powell announced
0:07
their latest monetary decision. What's really going to matter is
0:12
what they say, what indications they have going forward.
0:16
Now, this morning, did you see the big news, the big inflation
0:21
news? We got the core PCE.
0:24
We got the PCE. Is your head spinning yet?
0:28
Let's try to make just a little sense of all these numbers that
0:31
came out this morning, but the apparently apparently did.
0:34
You know, the only one that really matters is the core PCE.
0:39
That's what the Fed looks at. Core.
0:42
What? Don't you know what it stands
0:43
for? Personal consumption expense?
0:45
I don't know. Inflation.
0:47
It measures inflation. And today we got the PCE and
0:51
core PCE. The core PCE?
0:55
God doesn't this. Isn't this convenient for our
0:57
government? The core PCE measures inflation,
1:00
but it strips out the cost of food and energy.
1:05
Who needs food and energy, right?
1:07
Yeah, who needs that right? Who has to deal with rising food
1:11
cost and energy cost Nonetheless, even though they
1:15
stripped out the cost of food and fuel, the core PCE jumped.
1:20
Which is bad news, Okay. Let's take it slow.
1:24
Now that's bad news for silver and gold because that means
1:29
inflation's not coming down. And the people now, now they're
1:32
saying the mainstream media, I'm sure you've read a few of these
1:36
articles yourself but if not but I'll summize it for you,
1:40
synthesize it for you. Now the the the little shift is
1:44
more back towards, oh, the Fed's going to have to keep raising
1:47
rates. The Fed's going to have, do we
1:49
believe that we're going to talk about the big picture when it
1:52
comes to the Fed, silver and gold.
1:55
But for right now, all the headlines are feeding all the
1:58
people that core PCE accelerated.
2:01
Now Peter Grandich had something fascinating to say about this.
2:05
I'm going to get to that in one second.
2:07
But again, that's bad for the silver and gold price.
2:10
Temporarily I'd call it. These bumps in the road are
2:14
becoming less and less extreme, right?
2:17
The speed bumps that we're hitting, this is a little speed
2:20
bump that we hit this morning. Inflation's going like crazy,
2:23
let me tell you. Let me, let me show you
2:25
something that was buried in all this data.
2:27
This comes from our friend Peter Grandage.
2:30
He said only in America, America, only here can we see
2:37
consumer spending up. So consumer spending was up more
2:41
than twice what? Incomes.
2:43
And we think that's a good thing because America is a consumer
2:47
based economy, right? It's all like what 2 thirds 3/4
2:51
of this economy is based on consumers spending, as Peter so
2:57
brilliantly pointed out, twice as much, increasing twice as
3:02
much as their incomes increase. But that's a good thing, right?
3:06
That's a good thing, right? Doesn't does that, does that
3:09
think about this from a big picture perspective, right?
3:12
Because at the end of the day, gold and silver call BS and gold
3:17
and silver are calling BS right now.
3:21
This is not unlike right like consumer spending is way up, but
3:26
incomes aren't. Well, where is that money coming
3:28
from? It's coming from at the end of
3:30
the day, it's Unicorn fart dust. It's borrowed money, right?
3:34
And we don't even know where it's coming from.
3:36
But let's just take another look at this from an even broader
3:40
perspective. Remember, we're talking about
3:42
the value of silver, the value of gold, right.
3:47
Think about it on a national basis.
3:49
We just got great. All we get is great news.
3:51
We got great news, what yesterday the US economy
3:55
expanded at 5% during the third quarter.
3:57
Really, really. And think about this.
4:02
They spent their spent the government spent over $2
4:05
trillion more in the last two, 12 months.
4:09
Excuse me. Then they brought in in the
4:11
last, yeah, a $2 trillion deficit crisis era spending.
4:17
Let's just, you know, and where does that money come from?
4:19
There's only one place, guys. It's Unicorn fart dust.
4:23
I haven't used that word. I'm going to use it a lot today
4:25
because that's all it is. So sure, temporarily, it'd be
4:29
like you coming home to your your husband or your wife or
4:32
your spouse or whatever and saying, hey, everything's great,
4:37
let's go. We're going to go on vacation.
4:38
We're going to have a great time because you just got a new
4:40
credit card in the mail with a $10,000 credit card limit.
4:45
And if you were like the United States government, you would
4:47
already have 200,000 in credit card debt.
4:50
But you got another credit card. So you're going to go spend and
4:52
everything's dandy. That's Bidenomics, right?
4:56
Spend a bunch of money that you don't have and get minuscule
5:01
supposed GDP growth and celebrate it right.
5:06
And now when it comes to the Fed, when it comes to silver and
5:08
gold, don't forget, don't forget next week on Wednesday, we're
5:13
going to get news from the Fed about monetary policy.
5:16
I'm so, yeah, monetary policy, interest rates, right.
5:19
Whatever the technical term is to describe it, that always has
5:23
a big impact on the price of silver and gold.
5:26
Remember the big, big picture, right?
5:30
Remember what's going on right now with the economy, with debt,
5:33
with deficits, with all of that, OK, No matter what, the Fed
5:39
cannot really fight inflation. The only hope, the only life
5:45
raft. The only way to keep the system,
5:47
to perpetuate this current system is through inflating it
5:52
away. So they're going to play all
5:54
kinds of games. They're going to throw
5:55
distractions at us. They're going to throw.
5:57
But at the end of the day, there's only one thing that can
5:59
happen, and that is the dollar becoming worth less.
6:03
Let's talk about Turkey. It's almost Thanksgiving.
6:06
You want to talk about Turkey? Do you like Thanksgiving?
6:09
I've never been a big fan of Thanksgiving.
6:11
I don't know why. Maybe it's the time of the year.
6:13
But nonetheless, it'll be nice to see family and eat a nice
6:16
meal. But let's talk about the
6:17
country. Turkey.
6:19
OK, guys, in the last year, OK, the price of gold in Turkey has
6:26
gone up by 63%. I'm going to, I want to tell
6:30
you, I'm going to show you a chart in a second that will will
6:32
blow you away. And this, this this is a
6:36
precursor for what we could see as hard for us to believe.
6:41
But even in the United States if our currency goes into crisis,
6:45
if everybody's talking about it, not the smartest people in the
6:49
room, the Ray Dalio's, the Jeffrey gun locks, the system
6:54
that the the the level of spending is not sustainable.
7:00
It's you know it's it's is it going to happen today?
7:02
Probably not. Is it going to happen next week?
7:05
Probably not, but it's happening a little bit today, a little bit
7:09
next week. And then when it really happens,
7:12
it's like, was it Hemingway? When they asked him, how did you
7:14
go bankrupt, he said very slowly.
7:17
And then all of a sudden that's what we're heading toward.
7:20
I I don't like it. You don't like it.
7:22
It's not fun to talk about, but it's the reality of the
7:25
situation that we find ourselves in right now.
7:29
Let me read this to you from CNBC about Turkey.
7:32
This is crazy. OK, the headline.
7:35
The headline came from Turkey. CNBC Turkey's central bank hikes
7:42
key interest rate Are you ready for this?
7:44
Do you know what interest rates are in Turkey right now?
7:47
35% not 3.535% Here. Key points.
7:54
Turkey hiked its key interest rate from 30 to 35%.
7:59
The central bank said it would strengthen monetary tightening
8:02
in a timely and gradual manner. I'd say they're not good going
8:06
to gradual, wouldn't you, until the inflation outlook improves.
8:12
Until June, they had been like not hiking rates and inflation
8:16
was out of control. So let me just read this to you
8:18
real quick. OK.
8:22
The central bank said price rises were stronger than
8:24
expected in the third quarter. So they've had runaway inflation
8:28
in Turkey, basically. And now they got some Wall
8:31
Street banker over there who's their head central banker who's
8:35
going to fix it all by raising rates to 35%.
8:39
Now here's where it gets interesting.
8:41
You own silver, right? You better hold on a second.
8:49
If you don't own silver, you better own some gold, right?
8:52
Maybe you own some precious metal mining stocks, right?
8:56
Maybe. Maybe.
8:57
But let's take a look. Let's take a look at what is an
9:01
incredible. I'm gonna show you a chart.
9:03
I know, I know. Hold on here.
9:07
In the last year alone in Turkey, the price of gold in
9:11
Lira, that's their their, their sovereign currency has gone up
9:15
by 6263%. OK, look at this chart of the
9:22
last 20 years and this will show you.
9:25
Let's get it in focus for you. There it is.
9:29
Look at that chart. That will show you that's gold
9:33
in Turkey over the last 20 years.
9:37
Look at the last two or three years, right.
9:40
Unbelievable what has happened there, but that was the result
9:45
of poor financial management by their government.
9:49
Can that happen in the United States?
9:51
Do you think it can happen? Right.
9:53
I think in the back of our minds, we know the, the, the
9:58
state of where we are, but most of us are kind of in denial.
10:02
And I could to a certain degree include myself in that.
10:05
Like I don't think the zombie apocalypse is coming, right.
10:08
I don't think we're going to have people roaming around with
10:12
with weapons and and all that. But we can't rule anything out,
10:17
right? We absolutely can't rule
10:19
anything out. And I think the idea that a lot
10:21
of people have is, well, we're the strongest country in the
10:23
world. We're the biggest country in the
10:24
world. We're the richest country in the
10:27
world. Well, you know, I don't want to.
10:31
I don't want bad things to happen for you or for me.
10:34
But let's be real. No big rich, powerful country.
10:39
You can just do a quick review of History has lasted forever
10:44
and the bigger they stand possibly.
10:49
I'm not saying that I think this is going to happen.
10:51
I'm not putting on a full blunt, but possibly the harder it could
10:55
fall right? Like, sure, the United States,
10:58
because of all the power and wealth that we do have, can
11:01
probably perpetuate the system longer than a place like Turkey,
11:07
no doubt about it. But that doesn't mean that it
11:10
can go on forever. And aren't we seen right now in
11:13
the world? Aren't we seen like massive
11:17
changes? I guys, we have war in the
11:21
Middle East. We have war in Europe, right.
11:24
We're not going to go down that rabbit hole.
11:26
We've got more than half of the country of the world, excuse me,
11:32
of the world that is that is either has or is in process of
11:38
aligning themselves And this is not.
11:41
Look, I'm an American. I was born in America.
11:44
I was born here in St. Louis, MO.
11:46
Right. Probably.
11:47
Maybe like you. I don't like this and I love
11:49
what our founding fathers set up for us, but we can't deny the
11:54
fact, right, that this what's going on in the world, there's a
11:57
big movement of countries that are basically fed up.
12:01
In a nutshell, would you, would you say that's, do you feel that
12:04
when you look out there, these BRICS countries, the countries
12:07
joining the BRICS, the countries that want to join, the countries
12:11
that are joining the BRICS war, right.
12:14
I mean Europe, Middle East and now what?
12:17
What's going to happen in Asia? So things can happen very, very
12:22
quickly, right? It seems like right now there's
12:25
like war or fatigue over and overnight we had American forces
12:31
dropping bombs in Syria. This is real, right?
12:34
This what's going on in the world right now is potentially
12:37
very scary and something that we need to stay on top of.
12:41
And I think a lot of people are a little paralyzed, I think.
12:45
Are you feeling a little, like, overwhelmed or traumatized by
12:50
everything that's going on in the world?
12:52
And then on top of it, we get this tragedy that's unfolding up
12:55
in the Northeast, you know, with mass shootings.
12:59
I mean, there's a lot going on right now, a lot, lot going on.
13:03
I think people are a bit traumatized and don't know like
13:06
maybe a little bit paralyzed. So it's going to be interesting
13:11
to see how this all plays out in terms of the metals.
13:14
Let's let's all we always want to circle back.
13:17
What does that mean for silver? What does that mean for gold?
13:20
You can take a deep breath and relax, right.
13:23
Whatever silver you have, whatever gold you may have,
13:26
right. Those have been a safe harbor
13:29
for thousands and thousands of years.
13:31
I got Hey, we got 100 thumbs up. Thank you Coin shop.
13:34
Chris just threw a virtual Ding Dong at me.
13:37
Guys, when we get to 100 thumbs up, we ring the bell 10 times.
13:41
That's a tradition here in Ron's basement.
13:43
That is a gesture on my behalf thanking you for being here with
13:48
me on a Friday morning. We love the bells.
13:57
We love the bells. Vladimir Putin himself came out
14:04
with a statement saying that if things don't improve in the
14:07
Middle East, it is going to spread throughout the region.
14:12
Not trying to scare you. We're just being real, right?
14:15
We dig through all this information, we try to
14:18
synthesize it right because we want to support our thesis of
14:22
surrounding the precious metals. If you want to get your hands on
14:25
some precious metals, go check out Pinbex Pi MB EX.
14:31
They're a sponsor of this channel.
14:33
They make shows like this possible.
14:36
If you want to get some gold, some silver, some platinum.
14:39
All right, go check out Pimbex. Do your research.
14:42
I did my research. I've bought from them several
14:45
times over the last year. You know that already, but you
14:49
need to do your own research. I found they have great prices
14:53
and price is always important to me.
14:55
But what's even more important, right, is that they have quality
14:58
products, great customer service and trustworthy.
15:01
You know, I've been sponsored by Pinbex now for about 10 weeks
15:05
and I can tell you I've heard nothing but positive experiences
15:10
from the Ron's basement community.
15:12
Check out Pinbex. I think you'll find what I found
15:15
out. Pinbex is best.
15:17
Now let's move on to an interesting fact about the
15:22
precious metals. Don't we love our little
15:24
interesting, fascinating facts? I say that word too much, Susie
15:28
says. Stop saying interesting.
15:30
So fascinating. Enthralling.
15:34
Are you ready to be enthralled? Here's a little fact.
15:38
This is going to be a little more focused on gold.
15:40
But when we talk about gold, aren't we also talking about
15:43
silver? We've we've covered that before.
15:46
This is from Wall Street Silver. I picked this up.
15:49
It says as of today, gold is officially outperforming the S&P
15:54
500 in 2023. And somebody sent me a super
15:58
chat. Shadow work, thank you, thank
16:01
you my friend. Shadow Work, you're a great
16:02
supporter of the channel and I totally, we appreciate it.
16:06
But shadow work, did you know that so far in 2023, gold is
16:12
officially outperforming the S&P 500?
16:15
Right. We always hear about those
16:16
stocks. Gold's not a good thing to own.
16:18
You don't want to own gold. Warren Buffett.
16:21
Poo poo's gold. Right.
16:23
A lot of these. What's the other guy?
16:25
Dave Ramsey. Right.
16:26
I'm I'm. I don't know a lot.
16:28
I'm not putting anybody down. But they they like to put that
16:30
like to like to the kind of diminish the value of gold as an
16:35
investment. As of Thursday's close, the S&P
16:38
was up 7.8% since January 1st and gold was up 9.2% in the same
16:46
period. This could be attributed to the
16:49
bond news covered above, but also apparently weighted heavily
16:52
by the Hamas attacks and resulting war.
16:56
This is interesting for our friends in Australia in their
17:00
dollar terms, Australian dollar terms, gold is up an incredible
17:04
17% this year, while their stock market is down 2%, a 20%
17:11
difference. So if you're in Australia and
17:13
guys we talked, we just we we talked about the gold price in
17:17
Turkey, we talked about the gold price in Venezuela, talk about
17:20
the gold price in China, Japan all have been reaching all time
17:25
highs. It's just a matter of time in
17:28
the United States. But if you're in Australia, if
17:31
you're down under now we got a lot of people that join us from
17:34
Australia, right. So you're welcome here.
17:37
And you had put your money in the stock market.
17:39
On January 1st, you would be down by 2%.
17:44
If you'd bought gold, you'd be up 17%, almost a 20% difference.
17:49
All right. You'd have one more dollar for
17:52
each four that you started with or each five, I'm sorry, at the
17:56
beginning of the year. The gold price throughout the
17:59
world, outside of the United States, what does that tell us?
18:03
Think about think about this. What does it tell us that gold
18:06
is reaching all time highs in all these other countries?
18:10
China, Japan, right. I'm sure Russian rubles right?
18:14
Argentina, Brazil, Okay. And I'm not saying they're all
18:20
at all time highs, but all over the world, gold this year has
18:24
been reaching all time highs except in the United States.
18:29
And you know why? That's because of the strong
18:32
dollar. Well, don't forget something,
18:34
guys, right? Don't forget something.
18:37
Number one, that strong dollar is just comparing the dollar
18:41
against a bunch of other cruddy currencies.
18:43
But number two, number two and hold on.
18:46
I'm going to get the old chart out.
18:50
Don't forget about the cup and handle.
18:53
But that is a chart of the US dollar that starts in 1985.
19:02
That's what, 38 years ago? Here we are right now, 105106.
19:07
We've only been this high on the dollar index for a handful of
19:13
years in the last 40 years. OK, can the dollar go higher,
19:18
quote, UN quote? Absolutely.
19:20
But don't forget, there's two things to remember about that
19:24
about this dollar and its impact on the silver price and gold
19:27
price #1. Like we just covered, it's just
19:31
comparing the dollar against a bunch of other crappy currencies
19:34
that are all simultaneously going down in value.
19:40
OK, #2, we've only been this high even as it's measured for a
19:45
handful of years, most likely, right?
19:48
And we're going to get a confluence of factors coming
19:51
together that are going to push the price of gold, the price of
19:55
silver price of gold, the new all time highs.
19:58
We're we're still, I know today's a little bump in the
20:01
road right but we're still we're still within a stone's throw of
20:06
a new all time high for the gold price.
20:08
So be prepared. It's going to happen.
20:12
OK. I don't have a crystal ball.
20:14
Don't you make any financial decisions based on anything that
20:18
I tell you, right. I don't know exactly, but I have
20:21
a strong inclination that we are going to get that new all time
20:25
high in the gold price that's going to push.
20:27
Silver was talking to one of the executives at Pembeks this
20:30
morning. We need to get silver above $30
20:33
per oz, and then we've got a big, big runway ahead of us when
20:39
everybody wakes up, right? Everybody's asleep.
20:42
Everybody around you is to 1 degree or another, very likely
20:47
asleep. Most people don't realize what
20:50
is going on. Most people don't care to do
20:52
what you do, which is to put in the work and deal with the
20:56
difficult subjects. OK, they don't.
21:03
They don't. But.
21:05
And they won't until they're forced to, until they go, Oh my
21:09
gosh, you know, we have a hyperinflationary burst or they
21:13
can't get that. I was reading last night,
21:15
people, there's there's in in my, my neighborhood, you know,
21:18
that thing. Do you have that in your
21:19
neighborhood? What's it called next door?
21:21
It's like a community. It's like a Facebook, a
21:23
community. People, people in around here in
21:26
Saint Louis are talking about shortages of medicine at all the
21:30
pharmacies. I'm like, what?
21:32
I didn't realize. And I was reading the comments
21:34
and thankfully I'm not really on any medicines, but maybe
21:38
something you think I should be. But nonetheless, people are
21:43
talking about like certain pain, like they're short.
21:46
People aren't going to care until it's too late.
21:49
That's the reality. People aren't going to care
21:52
about the fact that, well, whatever, you know, our
21:55
government spends 2 trillion more than it brings in.
21:58
I don't care long as I get my, my food card every month, as
22:03
long as I get my, you know, as long as my TV still works and my
22:06
Internet works and I can, you know, go to Applebee's once
22:10
every two weeks, whatever, right?
22:12
People aren't going to care until there's like a big event.
22:16
It impacts them. Then they're going to wake up.
22:18
And you know, right, you know, you know, because it's been this
22:22
way for thousands and thousands of years, people will run to the
22:27
precious metals, those people that are asleep.
22:31
Despite all the efforts that have been undertaken to diminish
22:37
the value of silver and gold as a as a very, very effective,
22:43
very solid store of value. All these efforts, especially if
22:48
you're joining me from America right now, right you've been
22:51
subjected to, your fellow citizens have been subjected to
22:54
a strong what's the word? A strong dosage of of
23:02
diminishing the value of the metals.
23:05
Despite that everybody knows. Isn't it funny?
23:10
Like, like isn't it strange? Does it seem strange to you that
23:15
the and again I'm speaking more primarily to Americans, but any
23:18
of you joining me from Western countries that almost nobody
23:21
invest in the precious metals? Almost nobody, Right?
23:24
Again, you know it, you know it. You're one in 300.
23:28
You're part of your basement dweller.
23:30
We are part of a limited number of people.
23:33
But at the same time, all those people, everybody, everybody
23:38
knows that silver and gold are very valuable, right?
23:42
Even my kids know my 11 year old daughters.
23:45
They've known since they were probably 4 years old because all
23:48
their little games on their tablets, always, you know the
23:51
big thing to get to collect the prize, whatever was gold or
23:55
silver. So people know, OK, I was having
23:59
a great conversation, long conversation with my friend
24:02
Steve last night. He's a big investor.
24:05
He's been in Saint Louis here he's the ex Major League
24:08
Baseball player for the New York Mets or well, their farm team.
24:13
But anyway, great guy. Very smart guy.
24:15
And and we were talking about the silver and gold markets and
24:19
he said something that triggered me, OK, because I hadn't really
24:23
put this together. And and and like we were just
24:26
talking about, right. We are a small minority of the
24:29
people that are invested in silver and gold, OK.
24:34
There's there's not a lot of us, right, especially when it comes
24:38
to the mining stocks, we're a small segment.
24:41
Everybody else doesn't care. So think about this in terms of
24:44
the money flow. Most people don't care.
24:46
We covered that ad nauseam, OK, the people who do care.
24:51
This is where it got interesting, especially when it
24:54
comes to the mining stocks, the people that do care, the the
24:57
handful. Peter Grandage says.
24:58
It's like a one room full of people that trade their mining
25:01
stocks back and forth amongst each other.
25:03
Nonetheless, those people have been traumatized, right?
25:07
And a lot of precious metal, a lot of silver.
25:09
Let's be real, a lot of silver investors.
25:11
People say, oh, I like it when the price is low, 'cause I can
25:14
buy more. But that's great.
25:16
But the reality is, because of the price suppression, because
25:19
of the of the difficult environment, the the sentiment
25:23
in the general population is next to nothing.
25:26
But it's not just that. It's even within the population
25:29
of people that are heavily invested in it.
25:34
So are we at. I said, Steve, maybe maybe this
25:36
is a bottom like when the last thing that anybody, whether the
25:41
general population or even the people that are enthusiasts like
25:45
us are to buy mining stocks or to or to buy that that maybe
25:49
that's a big sign of a big bottom.
25:52
Thank you, Alexander, for the Super chat, my friend.
25:55
Guys, the Super chats go a long way, OK?
25:58
And and please give this a thumbs up because we're almost
26:01
to 200. And you know what, 200 thumbs
26:03
up. We're going to ring that
26:04
cowbell. We got 300 people.
26:07
This is crazy. 300 precious metals enthusiasts.
26:12
Charles Nenner. Do you know who Charles Nenner
26:14
is? Charles Nenner worked for
26:17
Goldman Sachs. He was a famous analyst at
26:20
Goldman Sachs. Charles Nenner is also a
26:22
physician. Before he became an analyst at
26:25
Goldman Sachs, he was a doctor. Charles Nenner is an interesting
26:29
guy and a guy who has made some incredibly accurate calls about
26:34
the market. And he does follow gold and
26:37
silver. I was listening to him last
26:40
night and Charles Nenner brought up a couple interesting things.
26:43
He believes interest rates are going to continue higher.
26:46
Thank you Crafty Stacker for the Super chat.
26:48
Thank you, my friend. Interest rates are going to
26:50
continue higher not just in the near term future, but almost for
26:55
the next 30 years. Now you think, oh, that's got to
26:58
be bad for guys. Silver and gold can rise in a
27:02
rising interest rate environment.
27:04
What it comes down to when you're looking at silver and
27:07
gold is the fact that no matter how you slice it or dice it, all
27:11
that paper money, all that electronic money, all that
27:14
electronic crypto, all that electronic Unicorn fart does
27:19
debt, all that stuff out there, right?
27:22
Is diluted. Diluted, becomes less and less.
27:25
There's more and more and more and more created, right?
27:28
They can create more cryptos. I know there's a limited number
27:31
of Bitcoin up, right? That's great, but there's an
27:34
unlimited amount of crypto. There's an unlimited amount of
27:37
debt in the world. There's an unlimited amount of
27:40
paper money. We know the Fed created 40% of
27:43
the US dollars that are in circulation in a short period of
27:46
time after the health crisis that we had in early 2020.
27:52
It doesn't matter if we have higher interest rates, they're
27:55
going to have to rise, raise interest rates.
27:58
And this is all just numbers, right?
28:00
Not real value numbers, value. They're going to have to raise
28:04
interest rates because inflation is going to remain a big, big,
28:10
big problem. OK?
28:13
And it's going to be, it's going to be like shoot like like a
28:16
like like the Fed's going to be, oh, we're trying to put the fire
28:18
out. And they have a fire
28:19
extinguisher on one hand, but they're fanning the flame.
28:23
They got a fan in the other hand.
28:25
OK, that's the reality. He does say silver and gold
28:30
right now are a good long term play.
28:34
Very interesting. And this Costco thing just won't
28:37
die, right? We know the percolation, right
28:40
people? More and more people.
28:42
I received a very interesting e-mail from one of oh, and then
28:47
I got eight. I got an unboxing to do.
28:50
We're going to have another giveaway on Christmas Eve.
28:52
Eve. I almost forgot.
28:54
So we've got another unboxing to do.
28:57
But first I want to get to this. I'm going to, I'm going to just
29:01
just just just read this to you and I think you'll find this
29:04
quite enthralling. OK, here we go.
29:12
Where was it? Here it is.
29:13
This comes from my friend RB. Thank you, Kirsten.
29:15
Wow. But who will buy gold and silver
29:18
if when the price of silver goes to the roof?
29:22
Kirsten. Kirsten.
29:23
That's it. I'm going to answer Kirsten's
29:25
question. Who's going to buy?
29:27
Let's say the price of silver goes to, well, let's say $85 an
29:33
ounce, right? I'll tell you who's going to
29:36
buy? Kirsten, everybody, Right.
29:38
Because in that situation, if price gets that high, there is
29:43
going to be such a limited supply out there.
29:46
I know the other side of that argument would be that, Oh no,
29:50
everybody's going to sell their silver.
29:51
If it gets to 50 dollars, $80.00, there aren't that many
29:56
people that own silver. And those of us that do, are
29:59
you, Are you one of the few, The proud that owns silver aren't
30:04
going to sell it. OK, aren't going to sell it.
30:06
We might convert some of it if, sure, the price gets to $85 or
30:12
triple digit silver, like Keith Newmeyer likes to say.
30:16
But silver stackers are very they have very strong hands,
30:21
right? They aren't going to dump it.
30:23
If people were going to dump their silver.
30:24
The people that were dumpers, the people that aren't strong
30:27
hands have dumped it already. So I believe that, yeah, if we
30:32
get 85, we get 6050 a $100 silver, right?
30:37
There's not. Here's, here's the key to
30:39
remember industrial demand on silver is going up, up, up.
30:46
Right. Electricity, photovoltaic,
30:48
solar, solar panels. That's a fancy way to say solar
30:51
panels, photovoltaic. That's an absolute fact.
30:54
The amount of silver coming out of the ground from the mining
30:59
companies is going down. Mining silver, mining companies,
31:05
OK, are fighting for survival at these current silver prices
31:10
because they're fighting for survival.
31:13
Think about it. They don't have any extra money
31:15
to go out and look for any new silver.
31:19
They're just trying to cover their expenses, right, with the
31:22
expectation that at some point in the future, higher silver
31:26
prices will mean they will make some good positive cash flow,
31:29
some profit and they'll be able to invest that back into
31:32
drilling and exploring. Now, now, now, darn it, you
31:38
always, Susie always tells me to stay on track and then they yell
31:41
at me because I had to do the cowbell, which I will.
31:43
So that's the big but. But the big key to remember is
31:47
these mining companies. OK, even if they do start
31:51
exploring #1, there's no guarantee they're going to find
31:54
more silver #2. From the time they find silver
31:57
in the ground, they can get it permitted.
31:59
A mine, built, all that good stuff.
32:01
That's like a 10 year process. So there's not a huge supply.
32:06
The the risk factor if the price skyrockets from a big wave of
32:11
supply coming on is indeed from the what's estimated some people
32:15
say a couple billion, nobody knows for sure ounces of silver
32:20
that are held in the investment community.
32:23
Is that going to happen? I would argue the other side of
32:26
the equation. I would say that if the price
32:27
does go up, we're going to, it's going to be because there's more
32:30
and more people coming into the sector and there's a huge, a
32:34
huge, a huge runway for growth when it comes to more people
32:39
coming into the gold and silver sector.
32:41
Let me ring the bell. OK, the cowbell 200.
32:44
Thumbs up. Thank you guys.
32:56
We bring it a little extra on Fridays.
32:59
We wring it a little extra on Fridays.
33:03
Let's review because this is so important if you're a precious
33:06
metals investor, very important concept for you to understand.
33:10
And we're going to zone in on silver.
33:13
All right. All right.
33:14
OK. There's only so much silver.
33:16
People say there's more gold above ground than silver, so
33:19
there's only so much silver above ground right now.
33:23
Silver mining companies are fighting for their survival, so
33:26
they cannot invest extensively into drilling.
33:30
I'm not saying there's no drilling, but there's not much
33:31
drilling going on out there. There's not much exploration.
33:35
There's not much effort or money available to go out and find
33:40
more silver deposits. And the ones that they are
33:42
looking for are much harder for them to find.
33:44
OK, when the price goes up, they can't just turn on a switch and
33:49
start making twice as much silver.
33:51
It doesn't work that way. It takes a decade give or take
33:56
for the for the for the immediate efforts that would be
33:59
undertaken to flow through to your local coin shop.
34:04
There you have it all in a nutshell.
34:06
That's why I don't think that that that it high silver prices
34:11
you're going to have any problem getting rid of your silver.
34:14
Let's talk about Costco. It just won't die.
34:18
The Costco phenomena is it percolating here in the United
34:22
States Let's listen to our friend RBI didn't ask his his
34:25
initials are RB like Ron's basement.
34:28
OK, says good morning, Ron. First of all, I would like to
34:31
thank you and all the moderators of the show.
34:35
I thank the moderators. Also, please type 5 in the
34:39
comments section to say thank you to the moderators.
34:41
I really enjoy watching everyday.
34:44
OK. He's got something interesting,
34:46
a little story for us. OK.
34:49
So I've been thinking about Costco, my favorite store next
34:52
to ALDI and the huge demand they're seeing for gold.
34:56
And I think I have a possible answer.
34:59
Earlier this year, I was having a small procedure and struck up
35:03
a conversation about the state of the economy, amongst other
35:07
things, with my nurse. She was worried about the
35:10
dollar, so I talked about gold and silver to her.
35:13
She was very interested in purchasing, but didn't know
35:16
where to go or who she could trust.
35:20
That's critical to this. OK.
35:22
Unfortunately in our area the only person that advertises here
35:26
is a a slimy old dude with gold chains on looking like a mobster
35:32
with a bad reputation in the area.
35:34
My conclusion this is very insightful is that Costco is a
35:40
place where customers feel safe to purchase and know that from
35:44
previous purchases and service that they are safe buying from
35:49
them. I think if gold and silver were
35:51
available at large retailers that the sheeple are used to,
35:55
that sales would increase dramatically.
35:57
I'm sure other retailers have noticed what's happening with
36:00
Costco and want to get in on the action.
36:03
See, OK, he brought up two interesting points about this.
36:08
Number one, people are buying gold from Costco because they
36:12
trust them. People are buying would buy
36:14
silver from Costco, the same thing.
36:16
I'm not going to. I'm not going to.
36:17
But that's why I people trust Pimbex.
36:20
I trust Pimbex. You want to be.
36:22
That's first and foremost, people do trust Costco.
36:26
He brings up another great point, though.
36:28
Like the sheeple, the mass would likely become very involved in
36:33
buying silver and gold, if indeed other retailers follow
36:38
suit. Think about it.
36:40
What if, what if? And I know they sell silver and
36:43
gold on walmart.com, but that's that's a third party Costco was
36:48
directly selling gold to their customers.
36:50
What if Sam's Club starts directly selling gold to What
36:54
if? Here's a big What if, What if
36:57
Amazon, Amazon would start selling silver and gold directly
37:03
to their customers? That could be a very interesting
37:07
scenario that unfolds. So I really appreciate RB
37:12
sending me that. Oh, we got to do the giveaway
37:15
unboxing. Hey guys.
37:17
So we are going to have a new website, hopefully by around
37:22
Thanksgiving. Ron's basement.com.
37:24
You can go there now and it will send you directly back to the
37:27
YouTube page. So don't do that.
37:29
But we're going to build a cool forum, a place where all of you
37:33
that right now are here commenting can go to anytime, 24
37:38
hours a day and talk amongst yourselves.
37:41
I'll pop in there from time to time as well.
37:43
But it really is going to be kind of like the the I'm trying
37:46
to think of a name. The basement, the basement
37:49
beacon. The basement.
37:51
I've got all kind of basement. I've got all kinds of people.
37:54
You guys have been greats in it, right?
37:55
But we're going to do a giveaway on Christmas Eve Eve related to
37:59
that. So let's.
38:01
And one of our great viewers, he asked that I not share his name.
38:04
So I'll just say a great subscriber, A generous supporter
38:08
of the channel has donated to very cool.
38:12
Well, I I'll show you. Hold on, hold on, Let me close
38:18
this up. Can you see that?
38:23
There's the box. There's the box.
38:26
OK, I already opened the box and I already did open one of the
38:30
products and I thought, wait a minute, So this is me faking
38:34
that I'm opening the box. It was packed much more nice
38:38
than that. This says right here Giveaway.
38:43
This also said giveaway. These are cool guys.
38:46
Wait till you see this. And these are going to be given
38:49
away on December 23rd with some other stuff as well.
38:53
We're going to accumulate more stuff, but right now we are
38:57
focused on the Black Friday giveaway, which will be November
39:01
24th if you want to. If you want to enter that one,
39:03
there's over 20 ounces of silver.
39:06
There's a link in the description of this video where
39:10
you click on that link, you go to a short YouTube video and you
39:13
need to leave a comment on that video.
39:15
There are explicit directions in that video of what you need to
39:19
say in the comment and you'll be entered for the big Black Friday
39:22
giveaway. There's scammers out there, I
39:25
want to say that really quick that are like like like putting
39:28
messages on people saying oh you won.
39:31
No, we aren't doing the giveaway until Black Friday, November
39:36
24th. But look at this.
39:39
Look at this. This is cool.
39:45
It's a 2014 four ounce American Silver Eagle.
39:59
Check that out. Isn't that beautiful?
40:02
Oh, look. Can you see me?
40:03
Hi. OK, I'm going to have a hard
40:07
time giving this away. But you know I'm going to.
40:09
That'll be on December 23rd. Thank you, Mr. J.
40:14
I'll call him now. We've got something else.
40:18
Hold on here. We've got something else.
40:24
We have something else. Need to use proper English with
40:28
you basement dwellers, right? This is for the giveaway as
40:32
well. I have no idea what this is.
40:41
And oh wow. 2022 quarter # silver $100 note.
40:53
Check that out that my friends and I'll show you this more as
41:00
the giveaway approaches. That's a four ounce.
41:04
That is really cool. Wow.
41:08
A four ounce. The case.
41:13
I'm going to be careful here. The case was coming open.
41:17
Wow. Look at the back.
41:19
Look at the back of that. All right.
41:22
Hey there there. Am I in there?
41:24
Can you see me? Anyway, 4 ounce.
41:30
Thank you, man. We are overwhelmed with
41:32
gratitude. The supporters of this channel
41:36
and contributing. It's just I don't know what to
41:40
say, but thank you. These two will go in a safe
41:45
place and we'll be giving away on December 23rd.
41:50
Hey, thank you guys for joining me today.
41:52
OK. Have a great weekend.
41:54
I'll. I'll do my best to hop on here
41:56
tomorrow and say hello, but be good today.
41:59
Thank you. To all the moderators, thank you
42:02
for the Super chats. Let me see.
42:03
Did I miss any. Hold on, hold on.
42:09
Did we miss any super chats? If I did.
42:11
Thank you. OK.
42:13
It goes a long way to help support the channel and the
42:16
moderators. Coin shop.
42:18
Chris. Jake.
42:19
Annie, Mary. OK.
42:23
Jim M wow you guys. You know, thank you so much for
42:28
making this community special. And and like I said, I'll look
42:32
forward to seeing you over the weekend.
42:34
Have a good rest of the Friday. Bye.
42:36
Bye.