Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **ALERT** Massive SILVER Moves at COMEX

Transcript

**ALERT** Massive SILVER Moves at COMEX · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Hey, everybody. Welcome to the live stream.
0:03
I hope you are doing well. I know life's difficult for
0:08
everyone. Some days are better than
0:10
others. But I hope today is manageable
0:12
for you. So far, so manageable for me.
0:16
We all got a lot going on, so I appreciate you being here with
0:19
us this morning on the live stream.
0:21
Let's wait for technology to catch up.
0:24
I don't think you can see me or hear me yet.
0:27
Hello, Craig Edmonds. Hello, coin chap.
0:29
Chris Sassy, Silver, thank you guys for being here this
0:32
morning. Kind of a snap live stream.
0:34
We got a we're all busy. I know you're busy too, so I
0:38
appreciate you being here. We've got the basketball and
0:41
softball to head on to, so let's get started in just one minute.
0:46
This will be a relatively quick live stream for me, probably
0:50
about 1/2 hour long, but we've got some.
0:52
I've got something that knocked my socks off last night when I
0:55
read it, and it has to do with silver and the Comex.
0:59
Our old friends over at the Comex, right?
1:15
Is the price of silver manipulated?
1:18
The price of silver is grossly manipulated.
1:23
That's a big source of frustration and tension for all
1:27
of us in the precious metal sector, especially silver.
1:31
We know gold's manipulated, but we in particular know that the
1:35
manipulation of the price of silver on the Comex has been
1:40
proven and it's frustrating. It's a problem for us, but what
1:44
data? Recent data like within the last
1:48
two or three days, can we look at that is absolutely astounding
1:53
when it comes to the trading of silver and without a doubt shows
1:58
us just how crazy leveraged and manipulated the silver prices.
2:03
We're also going to talk about our old friend Joe Biden and
2:06
Bidenomics. And Six Trillion.
2:09
Yes. Remember that number.
2:11
It'll come in handy for you. 6 trillion.
2:15
How much silver do you need? I got that question again, and a
2:18
very unique answer. We're going to talk about that.
2:20
How much silver do you need? And we're going to talk about
2:24
something that nobody's talking about.
2:27
With the Fed announcement last week, a new piece of information
2:31
that I want to share with you that could give us a real clue
2:34
as to some doom that we could be heading into.
2:37
Thank you all. 100 of you joining us here on Sunday
2:40
morning. You know you are the most
2:42
important part of Ron's basement.
2:44
All of us welcome each and every one of you, right.
2:48
We're a group of people who like to talk about silver and gold.
2:51
We like to dig a little deeper. You are a little smarter than
2:54
the average bear. I can tell you that without a
2:57
doubt. So please give this a thumbs up.
2:59
Subscribe to the channel. You'll get a piece of content
3:03
every single day. Something about silver and gold.
3:06
And you can make some friends and you can have some fun.
3:10
Let's dive right into the situation at the Comex guys.
3:14
It's astounding. OK, I was, I was going through
3:20
that website, Reddit, and there's that massive group,
3:24
right the silver. What the heck's it called Wall
3:28
Street Silver. It's got like 200,000 members,
3:31
which alone tells us how many people are interested in silver.
3:36
But I ran across this piece of data from the Comex from Friday
3:40
that just absolutely knocked my socks off.
3:42
This guy on on Wall Street, Silver, his name is Otara Mill
3:47
Club put out a post. It said 57,950,000 ounces of
3:59
paper silver traded in 15 minutes.
4:04
OK, that's 11,590 contracts times 5000 oz each.
4:10
That did the damage on Friday. Naked, shorting.
4:14
All too familiar. Wait till we dig into these
4:18
numbers. Let me show you this chart.
4:20
This all happened on Friday. Now look, silver was near $23.40
4:26
an ounce on Friday morning. It wound up very quickly,
4:30
crashing down to almost $22.50. Ninety cents.
4:35
What is that, 5 percent? 4%, Right?
4:38
And it did it all. As you can see where I
4:41
highlighted on this chart, this is when the jobs numbers came
4:45
out. And this is silver.
4:48
It did all of that within, like, I don't know, 30 minutes, 45
4:52
minutes, but one big section. This is crazy, guys.
4:56
This is absolutely astounding in in 115 minute segment there were
5:02
58,000,000 ounces of silver traded, paper silver, electronic
5:09
silver. Now what you know that's just a
5:11
number, right, that maybe doesn't mean any mean that much
5:15
to you on its own. But if you consider that that
5:18
57,000,000 ounces of silver represents over 6% of the
5:25
world's annual production of silver.
5:29
All the new silver that's produced in the course of a
5:32
year, everything that's mined, everything that's recycled, it
5:35
all, it all aggregates to about 1 billion oz and in one, are you
5:42
kidding US 1:15, I mean does that not blow you away?
5:45
It blew me away that in 115 minute segment, 6% of the
5:53
world's production was traded, OK.
5:56
And you're going to tell us that silver is not manipulated 15
6:00
minutes to trade 6% of the world's silver electronic,
6:04
right, blah, blah, blah. I mean and look what happened,
6:07
look what happened to the price. That one big line, that one big
6:11
section that's 15 minutes that's 6%.
6:16
The other the the next number of minutes there was probably, if
6:19
you Add all that up, I would imagine in an hour we traded 20%
6:25
of the world's production of silver.
6:27
Am I am I reading this wrong? I think not, Right.
6:30
I went back and checked and looked and how, how can you say,
6:34
how can they even purport that the price of silver is not
6:38
manipulated? If you're able to trade 20% of
6:42
the world's production, maybe 25%, who knows right?
6:46
In one one hour period, we know for sure that in 115 minute
6:51
period they were able to trade the equivalent of 6% of the
6:55
world's production. This situation, this paper
6:59
market we know has caused major troubles for the silver price.
7:03
You know, we talked about this last night.
7:05
If the silver price were really $22.47, right, then supply and
7:12
demand in the market would be equal, right?
7:15
We know right now that there's a big shortage of supply demands
7:20
up here. Supplies down here.
7:22
It makes no sense. And when we see data like this,
7:26
it just absolutely astounds me that they're able to do it.
7:31
But here's the problem. Here's the here's there's the
7:34
$1,000,000 question for all of us, right?
7:37
How long will they be able to keep it up?
7:39
Because we know throughout the world, in Asia, in the BRICS
7:44
nations, new markets are growing and being developed for trading
7:49
the metals, for trading gold, for trading silver.
7:52
And they've got a completely different price.
7:54
And they also typically have a little bit of a different
7:57
approach to things. They actually trade physical
8:01
metal, not futures, not made, made-up.
8:04
Make believe. You know, you can go in the US
8:05
debt clock and see there's like what, Paper to silver.
8:09
I mean, it's just crazy. I hear different numbers, 20 to
8:12
1-2, hundred to one, 500 to one. I don't know.
8:15
What do you think? Right.
8:16
Do you believe? I mean, does it does it blow you
8:20
away? Tell me in the comments.
8:21
I'm just curious. Then a 115 minute period on
8:27
Friday right when silver drops from $23.40 an ounce to $22.50,
8:33
that in 115 minute period we'd trade 6% of the world's
8:38
production of silver. Then in one one hour period we
8:41
probably traded 20% or more of the world's production and
8:45
silver. Am I.
8:47
Is it? Is it?
8:49
Does that indicate that there is cheating type cheating, not
8:55
cheetah cheating? And I'm curious cuz to me it's
9:00
just absolutely astounding. Now we got a lot more to talk
9:03
about, guys, we've got a lot more to talk about in this live
9:07
stream. But that was, to me, indicative.
9:10
Just insane. That's all I can say.
9:12
I'm blown away. It makes no sense whatsoever.
9:16
If you want to get your hands on some silver right now, right,
9:19
real silver, not the electronic stuff that you can trade 25% of
9:23
it in one year or I'm sorry, in one one year's production in one
9:27
hour. Real silver.
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Thank you, Pinbex, for your support.
9:57
OK, let's talk about here. They're everywhere.
9:59
I look, well, you know, OK, everybody's all upset about
10:04
Silver, right. Frustrated, right.
10:07
We're frustrated. And then we see data like we
10:09
just talked about from the Comex.
10:11
Frustrated. I understand.
10:13
But I want to read you something that someone sent or was a
10:17
comment that I think reminds us because are you.
10:20
I'm getting. I mean maybe you're one of these
10:22
people, but we're getting. I'm getting the emails and
10:26
messages saying, hey, Ron Silver's never going to go up,
10:30
You're crazy, Silver's done. Silver blah blah.
10:33
Listen to what? Listen to what?
10:34
This gentleman, Ron Dent, 6875, we need to remember this, OK?
10:40
He says. I recall going to a man's house
10:43
to buy a Brilliant uncirculated Morgan and Peace silver dollars
10:47
in 1998. That's the way I used to do it.
10:51
He placed an ad in the newspaper to sell them.
10:54
He had about 50 Morgan dollars and 100 piece dollars.
10:57
He told me his grandmother picked them for him from the
10:59
Met, blah blah blah. Silver was $4.00 an ounce then
11:05
and he tried to sell them to a local coin shop.
11:08
Listen to what the local coin shop told him, but was told by
11:12
the coin shop that silver might drop to $2.00 per oz.
11:17
This was 1998 four dollars silver.
11:20
Could you? I know, wish we could go back
11:23
just for a couple hours as I know what you would be doing.
11:26
You'd be buying silver, But when silver was $4.00 an ounce and he
11:31
was trying to sell these peace dollars back to his local coin
11:34
shop, they said no thank you. We think Silver's going to $2.00
11:38
per oz. This man told me that they were
11:43
taking too much room and he offered them to me at $6.45 each
11:48
and I bought everyone he had. I can't predict what the
11:52
direction of silver prices will go in the short term and I don't
11:56
believe that anyone else can either.
11:58
However, with all the problems we have now and the increased
12:03
industrial demand on decreased production, I can easily predict
12:08
that silver prices will make a significant advance in the
12:10
future. Thank you Rhonda.
12:12
That was actually a comment that he puts on one of the videos.
12:15
Read the comments in these videos, You guys are brilliant.
12:18
You leave a comment. You right.
12:21
Please give this a thumbs up. That'll help us get the word out
12:24
to more people. And you, please subscribe to the
12:27
channel. We'll be here every day.
12:29
Hang out together. Right, Mr. Rogers.
12:31
Neighborhood for gold and silver Enthusiasts.
12:34
We're like it. Camp silver.
12:36
Silver. Gold Day.
12:37
Go all sitting around the campfire, Right.
12:40
Roasting marshmallows, talking about our favorite subject,
12:44
Silver and gold. When you're here, you're a
12:45
basement dweller and we're glad you're here.
12:48
I'm glad all 300 of you are here right now.
12:51
So when we get all these news these you get the messages we
12:55
get. You know we get these messages
12:57
from some of our fellow Stackers who are frustrated other people.
13:01
Why would you buy silver silvers?
13:03
I have remember people were telling Ron, Ron, is this his
13:08
name Ron too. Hold on, it is.
13:11
Anyway, people were telling this other Ron back in 1998 that they
13:16
didn't want to buy any of his or the man who he bought from.
13:20
They didn't want to buy the, the, the because they thought
13:22
Silver was going to $2.00. OK, look at silver now.
13:26
I think that Ron made a pretty good buy.
13:28
I think he probably quadrupled his money.
13:32
OK, very interesting. Very interesting.
13:35
You want to hear about our our great president?
13:38
Let me just read you some statistics, OK, 'cause the big
13:42
picture that we're dealing like, we get focused in on some of
13:45
these little things, the Comex and day-to-day price change.
13:48
But the big picture we're dealing with is doom in this
13:52
country. And when you hear this, it's
13:54
going to make perfect sense, OK? Over the past three years,
13:58
President Joe Biden has added $6 trillion to the national debt.
14:03
That is truly a shocking amount of money.
14:07
Let's put it in perspective. Adjusted for inflation, you this
14:11
is going to blow you away. 6 trillion, 6 trillion.
14:15
And if you adjusted for inflation is 20% more than the
14:19
United States spent on fighting World War 2.
14:25
We've spent more money in the last three years, 20% more money
14:29
in the last three years than we spent fighting World War 2.
14:33
It's twice as much. Is the entire national debt of
14:36
Germany OK, just the amount that Joe Biden's added?
14:39
Twice as much as the entire debt of Germany.
14:42
By itself, 6 trillion would be the third biggest national debt
14:46
in the world by itself. So it's no surprise that the
14:50
annual cost of living has risen by an average $11,400.00 for the
14:57
average American family. OK, this big picture is not good
15:01
when we're looking at what's going on in this country with
15:04
the national debt. Oh, and by the way, we're adding
15:07
to it with more interest expense.
15:09
Oh and by the way, we're adding to it with more deficits that
15:14
are being run every year. It is not a tenable situation.
15:18
People are acting crazy. Have you heard of this?
15:20
Are you one of those people acting crazy?
15:25
Sometimes I am. Are you?
15:27
We're basement dwellers, typically level headed people.
15:30
But, and I don't. I hope you're not doing this.
15:33
There's a new trend called doom spending people racking up
15:37
credit card debts. That newest trend?
15:39
Buy now, pay later because especially the younger, younger
15:43
generation, they're like, they're like, I want to use the
15:47
S word, but they're like, forget it.
15:49
I'm never going to be able to buy a house.
15:51
I'm never going to be able to have a family.
15:52
I'm just going to live my life and have fun.
15:54
So they're racking up their credit cards.
15:56
They're racking up the buy now, pay later because they know
16:00
somethings wrong and they're giving up.
16:03
That's a sad state of affairs, a sad trend that's developing
16:07
right now in this country. But the real problem, the real
16:12
problem is, and why they're so confused is because they don't
16:15
know what real money is. Silver and gold.
16:20
They're living in this make believe fantasy land, right?
16:23
Unicorn fart dust, paper money, whatever, right, right.
16:27
Funny money, whatever you want to call it.
16:29
They're living in this world. They know they're sensing
16:33
something's not right. They know they're frustrated.
16:37
They know that that they went that they took out all this debt
16:40
and went to college and now they're 28 years old and they're
16:44
making 70,000 a year and they try to buy a house and there's
16:48
like no way they can afford to have a car and a house in a
16:52
family. So they're giving up.
16:54
They don't understand right. They they're they're the the the
16:57
the make believe monetary mirage what's going on is now starting
17:02
to set in. But they they what they don't
17:04
understand are real money silver and gold, right.
17:09
You and I, we have a an understanding of what's going on
17:13
but this is a scary trend that we have this younger people that
17:17
are that are moving toward just saying forget it.
17:21
I'm, you know I'm never going to get oh I got to ring the bell.
17:23
Thank you coin shop. Chris.
17:24
Thank you thank you. I ring the bell for you guys.
17:32
Thank you for being here. Your thoughts matter.
17:35
Are you doom spending? Do you know people who are doom
17:38
spending right. How much silver should you own?
17:43
I get that question all the time.
17:45
How much different form, different.
17:47
Do you ever have that question? Do you wonder, do I have enough
17:49
silver? Do I have too much silver?
17:51
You know, I came up with a easy answer to that question.
17:57
I always say this. Buy silver that you feel like
18:02
you will never need to sell. Silver, gold for that matter as
18:07
well, platinum, right? Those are generational wealth,
18:11
but only by what you feel like. You would never need to sell and
18:15
hope, right? Hope that you never do need to
18:19
sell it. But know that if you do, if
18:22
things get very difficult, very difficult, that you have it and
18:26
it's generational wealth, maybe your kids, maybe your grandkids
18:30
will have to dip into it. But buy what you know, you'll
18:34
never, ever need to sell. That's about the best way that I
18:38
can answer that question. We had a very interesting
18:41
development with the Fed this week, and I hadn't heard about
18:44
this. You may have heard this, but
18:47
very interesting. Someone pointed out that the Fed
18:51
omitted this very critical statement from our very critical
18:55
sentence from their statement this week.
18:58
OK, they've they omitted the the sentence that said quote, the US
19:04
banking system is strong and resilient.
19:07
That's no longer that was not in the Fed statement this time,
19:12
right. They they took out that little
19:14
piece of information that told us the US banking system is
19:17
strong and resilient. We know this week that we had
19:21
major trouble in a regional bank, New New York Community
19:25
Bank. Their stock plummeted 50%.
19:28
OK. Oh, and it just so happens that
19:30
they're the bank that took on all the assets of that Signature
19:33
Bank that failed a little less than one year ago.
19:37
We know that the bank term funding program, the bailout
19:41
program, the relief program, whatever you want to call it,
19:45
the QE right Stealth QE program that the Fed put in place just
19:50
eleven months ago is now is now scheduled to end on March 11th.
19:56
And we know right, that the reverse repo fund, the slush
20:00
fund that the Fed had where they took all that cash from the
20:05
banks, all that extra Unicorn fart dust make believe paper
20:09
money that the Fed printed during the C19 crisis that the
20:13
banks didn't know what to do with it, the Fed took took it
20:17
from them right? That that that now is being
20:20
drained and that that is on schedule to also run out of
20:24
money. Sometime March, April time
20:27
frame. If the current trend continues,
20:30
guys, we could be in for craziness in the banking sector.
20:34
You know what that what does that mean?
20:37
What do you think that means for silver and gold?
20:40
I mean, just think back, right? Maybe you're like me, we're
20:44
getting a little older. I'm 53 years old, but I can
20:47
remember back eleven months ago when the banking crisis hit OK,
20:52
it was not that big of a deal. Remember, they had an emergency
20:55
meeting over the weekend between the Federal Reserve and the
20:58
Treasury and they came up with this bank term funding program
21:01
which will be ending on March 11th.
21:03
But when they did that, you couldn't get silver.
21:08
You had a hard time finding gold.
21:10
I went to my local coin shop just to see what they had in the
21:15
shelves were barren. I mean, it was like it was like
21:19
the Mojave Desert without any cactuses, cactus, cacti.
21:25
However you say it, OK, that's what happens when people get
21:30
concerned. I mean, there is so much heading
21:32
at us. It's crazy, right?
21:36
War bricks just up. the United States alone is doing such a
21:42
wonderful job of screwing the situation up.
21:46
Who knows? Who knows where we'll be?
21:49
You know, who knows? It could all be a nothing
21:51
burger. I was at a one of my daughter's
21:53
basketball games yesterday and talking to my great neighbor Dan
21:56
and I was going through the list, right.
21:58
I said, Dan, you know, you know what's going on, right?
22:00
The banks and the and the bricks and the war.
22:04
And now we got a presidential election.
22:06
It's like it's a real set up for like like turmoil.
22:11
Dan Turmoil. And he's like, you know, a
22:13
manager executive at A at a big company here in Saint Louis.
22:17
She's a smart guy, right? I said, but you also know,
22:21
right, that it could just be a great big nothing burger.
22:24
It could be a big nothing burger.
22:25
But then I said, but you know, Dan, it's always the things that
22:29
we don't think are going to happen that wind up happening.
22:31
And nobody's talking about the D word, nobody's talking about a
22:35
depression. I said we could be heading into
22:37
a depression. I said, aren't you glad you're
22:39
talking to me now, Dan? Oh, I'm sure he was right, but
22:45
none the less right. We are not doomsayers.
22:49
You're not a doomsayer. I I want to be a positive
22:53
person. It doesn't hurt to be positive,
22:55
OK? Does not.
22:56
And think about it. It doesn't hurt to be positive.
22:59
I'm a positive person. But we're also risk assessors
23:03
and man, when we assess the risk of what we're heading into, is
23:07
it just me or does it seem risky?
23:09
I want to see. Am I the only one who can type?
23:12
Risky. Risky.
23:14
It's like a typical cat name or something, right?
23:17
Risky. Who else thinks we're risky?
23:18
Hello, Jim M. Hello, Sassy Silver.
23:21
Hello, Lone Ranger. Thank you guys for subscribing.
23:25
Thank you for giving this a thumbs up.
23:27
Thank you for the Super chance. the Super thanks.
23:29
All that. All the support that you've
23:31
given this channel Frisky. Every time I ask you basement
23:37
dwellers a question. I can.
23:38
I can. I can always see M's feeling
23:41
frisky. Well, we can't help you with
23:43
that, my friend. I can.
23:45
Whiskey. I can always count on some
23:50
interesting replies. We got a lot of riskies.
23:54
Hey, thank you, Jim, man. Thank you, my friend.
23:58
Always good to see our friend Jim M We're with you, buddy.
24:03
OK. We got more.
24:04
We got more. OK.
24:06
Let's just have you heard. Last year was the second highest
24:15
central bank gold buying in history.
24:19
In the year before, 2022 was the biggest year of central bank
24:24
gold buying in history. In 2022 was not a whole lot more
24:29
than last year. It was real, real close.
24:33
Look guys, we can't forget. Let's, let's, let's take a deep
24:37
breath, take a step back, right. Central banks, they're the
24:40
smartest, they're the insiders, right?
24:43
They're the inside, they're the guys that know what's going on.
24:46
They control the world monetary and financial system.
24:49
Like it or not, I don't like it. You don't like it.
24:52
But that's what's going on in the central banks have bought
24:56
more gold in the last two years than any other time in history.
25:01
And last year was just a tiny little bit below what they
25:04
bought in 2022. What does that tell us?
25:08
Right. What does that tell us?
25:10
I can't. You know, I can't help.
25:12
All right. Warning, warning, Warning.
25:15
Time you got. You ready for the warning?
25:18
You know, Red alert. We have a warning.
25:20
I'm gonna give that to you in one second.
25:22
Let me have a quick drink of coffee.
25:34
I was absolutely flattened when I printed out this list.
25:37
You know what this list is, huh? Absolutely flattened.
25:41
This will impact the price of silver.
25:43
This list will impact the price of gold.
25:47
And I am mad about that, OK? Because it shouldn't.
25:50
We'll talk about that in a little bit, but what is this
25:54
list, right? This is not my Christmas list.
25:56
This is not, you know, a list of all my favorite basement
26:01
dwellers that would be much longer.
26:04
This is the economic calendar for this week.
26:07
And listen to this because we are going to be hit warning with
26:12
a barrage of Fed speakers, all the Fed governors, OK And these
26:20
guys, it's it. It it, they will have a big
26:23
impact on the silver price and gold price.
26:26
So on Monday Atlanta Fed. Raphael Bostic speaks on
26:32
Tuesday. Are you ready for this?
26:33
Cleveland Fed. I won't even say their names.
26:35
Loretto Mester. Tuesday, Cleveland Fed.
26:40
Then also Tuesday Minneapolis Fed.
26:42
Then also Tuesday Boston Fed. Then also Tuesday Philadelphia
26:47
Fed president. When did these people become
26:51
financial celebrities? These are the highlights of the
26:55
economic calendar for the week. I mean, does this make any
26:58
sense? Wednesday, Fed Governor Adriana
27:10
Coogler speaks. Boston Fed speaker, Fed
27:14
President speaks Richmond Fed speaker speaks.
27:17
Fed Governor Michelle Bowman speaks.
27:19
OK, Thursday is pretty good. We only have one Fed speaker, OK
27:26
And Friday we only have one Dallas Fed.
27:29
Lori Logan speaks. So we've got like 10 Fed
27:33
presidents speaking this week. That's the highlights is this
27:37
let's take a let's let's analyze what's going on here.
27:40
OK what does this tell us when MarketWatch is?
27:45
Is publishing this as the biggest new upcoming economic
27:50
news of the week. It tells us that the Federal
27:54
Reserve has become nothing but a public relations firm.
27:59
OK, right. 2530 years ago, the good Lord above forgive, but
28:06
50-60 years ago, when we were on the gold standard, nobody knew
28:10
who the local Fed officials were.
28:12
The local Fed governors. Now they're like financial
28:15
celebrities and they'll all be saying something about monetary
28:20
policy and needing to be higher for longer and more restrictive
28:24
to try to control inflation. And this week could be pivotal
28:32
for the silver price and gold price.
28:36
Look, I said it to you guys last week.
28:38
I warned you last week I said next.
28:40
Next Sunday, which is right now we're all together.
28:43
We could be sitting with a much lower gold price and so over
28:48
price, right? If we get bad news that's bad
28:51
for silver gold. We got the worst news possible.
28:54
We got a hawkish fed and a supposed Unicorn fart dust jobs
28:59
number that was beyond expectations.
29:02
We couldn't have had worse news for silver and gold last week,
29:06
and gold hung in there pretty well, ending the week at around
29:09
$2040 per oz. And Silver's hanging tough as
29:12
well despite what was of two really big body blows to the
29:18
price. Now this week who knows.
29:22
I'm going to warn you again OK we are in we're we're not in the
29:28
we're not in the Valley of doom. We've we've been delivered from
29:31
the valley of doom as silver and gold investors that's no longer
29:35
the case the the up till about December of last year you guys
29:39
you went we went through it together.
29:41
The valley of doom for silver, gold and especially the precious
29:45
metal mining stocks. Now we're we're in a situation
29:50
where the the the the environment has shifted the
29:53
environment has changed but we're still going to get hit
29:57
right. They're still going to keep
29:58
punching at US playing games. We're more in this like period
30:03
where we're in training for what could be a very good remainder
30:09
of the year. It's going to be super
30:11
interesting for us to see how the silver and gold price
30:14
performed this week within the context of what 28 Fed speakers,
30:20
right, 28 Fed public relations sound bites that move the
30:25
market. You know, we could be, I could
30:27
be sitting here next Sunday, I'm going to warn you again saying,
30:30
hey guys, you know, as long as we stay above 1900, I think
30:35
we're in good shape and I do believe that.
30:37
I really, really hope that we stay above 2000.
30:42
Let me ask you, do you think that we'll be above it?
30:45
It'll be a if if we can make it through this week and we can
30:50
have gold and we talk about gold because that's the the Big
30:53
Brother, that's the trendsetter for the metals.
30:56
If we can close out next week above $2000, I think we're in
31:01
really, really strong shape. I feel relatively strong now.
31:06
Absolutely the situation has shifted.
31:08
But if we can survive this week above 2000, let me know what you
31:13
think. Do you think we can do it?
31:15
OK over take over 2K from here and out?
31:19
Yeah. Will we ever see a gold price
31:22
again? That starts with the number one.
31:25
Are we going to see a 19118 hundred or will the next gold
31:29
price that we see that starts with one be $10,000?
31:36
You know it can happen. Remember what happened in the
31:38
70s in this country and we are not in, we're in a very similar
31:44
situation right now, right. Gold and silver went up
31:47
multiple, multiple multiples. I don't have the data in front
31:51
of me, but I mean like multiples, right?
31:54
You talk about $16,000 gold, $10,000 gold.
31:57
You talk about silver going up to it's crazy.
32:02
Multiple hundreds of dollars per oz.
32:05
It can happen. And we are in.
32:07
Here's the interesting part about this, All right.
32:10
We are in a very similar situation to the 1970s from an
32:14
economic perspective, from a geopolitical perspective, from a
32:20
national debt perspective. Except here's the big difference
32:24
that we need to remember most of those factors, right?
32:27
The economic stuff's probably about the same.
32:30
But geopolitically, things are much more tenuous in the world
32:35
now, right? We didn't have bricks, right?
32:38
We didn't have Brazil, Russia, India, China, South Africa,
32:41
Iran, Saudi Arabia, Ethiopia, Egypt and the United Arab
32:45
Emirates. Those are the 10 bricks now with
32:47
30 more countries. We didn't have that in the 1970s
32:51
and what else? Didn't.
32:53
What else is more exaggerated or escalated right now?
32:58
Yeah, the situation with our national debt, we didn't have a
33:02
national debt in the 70s and 80s like we have now.
33:06
So in theory, we could have even bigger returns in silver and
33:11
gold right, in the coming 10 years as compared to what
33:14
happened in the 70s and early 80s.
33:16
We could. Nobody wants to talk about it.
33:19
I mean, if you talk about $5000 gold, you'll get scoffed at,
33:23
right? You'll get absolutely scoffed
33:25
at. So this is the list, right?
33:28
That's the list I'm sure you'll be following through.
33:33
I mean, my God, it's going to be tough to keep up with all these
33:36
guys this week. All right, here's This is funny.
33:38
This is not funny, but it's a happy ending.
33:41
OK, But I got to share this one with you because we all like to
33:45
laugh a little bit. OK.
33:47
Did you hear about the lady that got that Got compacted.
33:51
This is true story. Got compacted in the trash
33:56
truck. You know, the trash truck comes
33:58
by, then they come, they listen to this.
34:01
This is true. You think you're having a bad
34:04
day? This lady had a bad day, says
34:07
this is from The Associated Press.
34:09
A woman tossing trash falls into a dumpster, survives getting
34:14
compacted in the garbage truck. This is in New Hampshire or New
34:20
Hampshire. A woman fell into a dumpster
34:23
while throwing out her garbage and was later rescued from a
34:26
trash truck that had compacted the contents while she was
34:30
inside, fire department official said.
34:33
Luckily, neighbors heard her screams and the trash.
34:36
The train in the in the trash compartment was equipped with a
34:39
camera. The driver spotted the woman
34:41
stuck inside and called 911. By then, the driver had
34:46
reportedly compacted the garbage up to four times.
34:49
As you know, they throw the garbage in and they got that big
34:51
thing that compacts it. She did survive.
34:54
That's why I'm laughing. I knew that from the very
34:56
beginning. Rescuers used the basket ladder
34:59
to reach the top of the truck and lift her out.
35:01
By then she was standing, talking and yelling, but was not
35:05
alert enough to answer questions.
35:08
She was taken to the hospital and probably given a good bath,
35:13
and her name was not released. In 32 years, I've never seen
35:16
anything like this in my whole career, said Battalion Chief Bob
35:20
Budette. It's alarming because you don't
35:23
really think it's true. So you know, we always try to
35:26
help each other out here. Basement dwellers, be careful
35:29
when you're throwing your trash out.
35:31
Don't fall into the dumpster, OK?
35:35
But she wound up being OK. All right, guys.
35:40
So as we're frustrated, understandably, surrounding the
35:45
silver price, let's take a step back and realize that, you know,
35:51
on a week on, like on Friday, silver got smashed right almost
35:54
down almost a dollar in one hour.
35:57
But in 15 minutes on Friday, they traded electronic paper
36:02
Unicorn fart silver that's equal to 6% of the entire world entire
36:10
year production of silver. That shows us, in my opinion
36:14
unequivocally just how manipulated the precious metals
36:19
prices are. One thing that I will say is a
36:23
big deal, when you join me, please give this a thumbs up,
36:26
subscribe to the channel. Let's say thank you to our
36:28
channel sponsor Fortuna Silver. They actually, they're one of
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those country companies that contributes to the 1 billion
36:36
ounces of silver that's produced every year.
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They've been around almost 20 years.
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They've got the best management team in the mining sector, in my
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opinion. OK, a fortress balance sheet and
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geographically as well. You can learn more about Fortuna
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silver@fortunasilver.com. It's a stock that I've owned for
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years. I'm not offering financial
37:05
advice. Check them out for yourself.
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I think you'll like what you see, but you need to discover
37:10
that for yourself. Have a great day.
37:14
Thank you for being here. OK.
37:17
And I will see you soon. Have a great one.
37:20
Be good to yourself.