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Transcript

🚨SHOCKED! Silver & Gold🚨 - HE Said It! (and more) - Precious Metals NEWS Update · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

• 0:00
  Silver and gold mania taking hold all around the world.
• 0:05
  A multi month rally in the precious metals.
• 0:08
  We're going to look at all the reasons and examples why we can
• 0:13
  be optimistic that this absolutely can continue.
• 0:18
  We're also going to hear from the CEO of JP Morgan.
• 0:21
  He said something unbelievable. And did somebody else from
• 0:26
  Bloomberg refer to us as liking teddy bears?
• 0:29
  I'll explain more about that. And we're going to go to one of
• 0:31
  the most beautiful places on the world besides Ron's basement,
• 0:36
  because I know you love to come here.
• 0:37
  Well, I love to have you here down in the basement.
• 0:40
  It's a cold, dark, dank basement when you don't join me.
• 0:44
  So thank you for being here. Please subscribe to the channel.
• 0:47
  Leave a comment in the comment section.
• 0:50
  You don't have to agree with me or the other people.
• 0:52
  That's how we learn is from each other.
• 0:55
  We respect your intelligence. And again, please subscribe to
• 0:59
  the channel. That really helps.
• 1:01
  Myself and our good friend upstairs, Susie, my lovely wife.
• 1:05
  Guys, it was a really rough Friday.
• 1:08
  Oh, it was horrible for gold and silver.
• 1:10
  I think it felt a lot worse than it actually was.
• 1:14
  I want to show you some evidence here to put things in
• 1:16
  perspective about the gold price, and then we'll talk about
• 1:19
  the silver price. But this article came out and I
• 1:22
  was kind of shocked when I first saw it.
• 1:25
  Let's just read through this very quickly, and it is from
• 1:31
  Yahoo Finance. Says this right here.
• 1:35
  When I get to the top, gold notches its biggest gain since
• 1:39
  2020. What?
• 1:42
  As precious metal goes parabolic?
• 1:44
  And I thought, well, this must have been from earlier in the
• 1:46
  week, but no, it was from Friday.
• 1:49
  Gold futures eased on Friday but notched their biggest weekly
• 1:54
  gain since 2020 in a stunning rally in purple.
• 1:58
  The precious metal declined more than 1% on Friday to $4260 after
• 2:04
  hitting an intraday high north of almost $4400 per oz earlier
• 2:10
  in the session. Gold gained 7% over the past
• 2:14
  week as prices went parabolic in a perfect storm for the yellow
• 2:19
  metal. Thanks to Colorado senior
• 2:21
  financial market analyst for capital.com.
• 2:24
  So let's go out and take a look at the gold price to get you out
• 2:29
  on the right screen. I hope you're doing great.
• 2:31
  Again, thank you for being with me down here in the basement.
• 2:34
  I do have a special sponsor of today's video.
• 2:36
  We're going to hear from them in a little bit.
• 2:38
  But gold, this is the futures, December futures contract for
• 2:43
  gold. And when we look at this, if we
• 2:45
  go back to Friday of last week, OK, So right there, hold on.
• 2:49
  I want to draw this so that visually you can see what an
• 2:53
  epic week we actually did have in the gold market.
• 2:57
  And I'm waiting for my crayons. Here it is right here.
• 3:00
  There's the 10th that would have been Friday of last week.
• 3:03
  Gold was at about $4000 per oz. Gold ended the week at 4267.
• 3:10
  Gold was indeed up. So while yesterday may have felt
• 3:14
  a little uncomfortable, we actually had a great week in
• 3:18
  gold. Gold is the granddaddy of
• 3:19
  precious metals. But let's go look at silver and
• 3:24
  get you on to the right screen. There we are.
• 3:27
  We're on the silver screen and what happened with silver over
• 3:31
  the course of last week, Again, this is the December contract
• 3:35
  for silver. close the week in the futures market.
• 3:38
  Now we're going to look at the spot price here in a second, but
• 3:41
  close the week in the futures market at $50.63.
• 3:47
  We were on Friday at 4750, so up about $3.
• 3:54
  Now what happens when we go look at the spot price of silver?
• 3:59
  The spot price of silver is currently sitting right at $52
• 4:05
  per oz, $51.98. So we're doing OK guys.
• 4:09
  That's the point here. I don't know about you, but
• 4:11
  yesterday felt kind of emotionally draining a little
• 4:15
  bit. It was probably the first time
• 4:17
  in a long time, but for for a lot of us over the last two
• 4:20
  months that we had a pullback in the metals prices.
• 4:23
  But we are doing OK all right now.
• 4:26
  What about this mania? Is it still going on around the
• 4:29
  world? Let's look at some proof that
• 4:31
  people all over the world have gone gold and silver crazy.
• 4:35
  If you're in the United States, you don't have to deal with
• 4:38
  these massive lines, at least not yet.
• 4:41
  From what I've heard, we have to wait for your neighbors and your
• 4:43
  uncles and aunts who don't own any gold and silver to come.
• 4:46
  Want to join us. We, in a very endearing way,
• 4:50
  like to refer to those people who are going to be new to
• 4:52
  precious metals as the sheeple. OK?
• 4:57
  But we're seeing it in Asia. And here is some indisputable
• 5:02
  proof that it's happening right now.
• 5:04
  We'll read this one first, but this is out of Japan.
• 5:07
  Running out of gold in this says right here.
• 5:12
  Japan's largest, largest gold retailer suspended sales of
• 5:16
  small bullion bars for at least a month, unable to meet frenzied
• 5:21
  buying interest spurred by the metals surge to record highs.
• 5:26
  Tanaka Precious Metals Group said Thursday it had paused
• 5:31
  sales of all 5 to 50g gold bars and platinum bars of five to 10
• 5:37
  grams as demand outstripped capacity.
• 5:40
  It aims to resume in late November at least a month and
• 5:45
  will continue in the meantime to offer gold and platinum bars
• 5:49
  weighing over 100 grams. Now let's go look at some
• 5:53
  visuals of what's going on. This came from Bullion Star,
• 5:56
  they said. Seen at Bullion Star before
• 5:59
  opening. Customers already lining up to
• 6:02
  buy gold and silver. We'll put this on full screen
• 6:06
  for your viewing pleasure. And 15 to buy gold and silver.
• 6:15
  And I believe this is in Singapore, somewhere in Asia,
• 6:19
  but there it is. And there's proof, right?
• 6:21
  Bullion Star, unbelievable. OK, let's go to the next one
• 6:29
  more proof me. Make sure I've got you on the
• 6:31
  right screen, which I do. OK, Now you're looking at a post
• 6:35
  from Jesse Cohen. The gold rush across across Asia
• 6:39
  continues as locals in Singapore storm gold and silver bullion
• 6:44
  dealers, a bunch of the dealers apparently on Friday evening to
• 6:48
  buy coins and bars. And then he jokes and says this
• 6:52
  looks like a near term top. This is 10 seconds long.
• 6:56
  Let's take a watch. Look at this.
• 6:58
  Wow. Look, Diamond, the CEO of JP
• 7:07
  Morgan Chase, one of the world's, if not the world's
• 7:10
  largest investment bank, says something absolutely shocking
• 7:15
  about gold. Let's listen.
• 7:17
  And then there's more. OK?
• 7:19
  Cuz we're going to talk about one of the other richest people
• 7:21
  in the world who doesn't speak a lot about gold.
• 7:24
  Hear what he had to say and look at a crazy graph.
• 7:27
  So let's go out there right now. Thanks again, guys, for being
• 7:30
  here in the basement with me. Let's make sure we get you on
• 7:34
  the right screen. You should see.
• 7:35
  Yes, you do. Jamie Dimon, OK, CEO of JP
• 7:41
  Morgan Chase, the same company that got convicted of
• 7:44
  manipulating the gold and silver markets, paid almost a billion
• 7:48
  dollars in fines. Now he's saying gold can quote,
• 7:52
  UN quote, easily go to 5000 or $10,000 per oz.
• 8:00
  OK, fresh from reporting a solid set of number, solid set of
• 8:04
  numbers for the third quarter, JP Morgan CEO Jamie Dimon said
• 8:08
  he sees quote some logic in owning gold.
• 8:13
  He then says I'm not a gold buyer.
• 8:16
  It cost 4% to own it. Well, yeah, you can look at it
• 8:20
  that way, right? You can put your paper money
• 8:23
  into ACD or a bond and make 4%, or you can put it into gold,
• 8:28
  which, I don't know, went up, what, 100% in the last two years
• 8:31
  at least. I digress.
• 8:33
  Let's go right to the red. That said, Diamond admitted that
• 8:38
  gold could easily go to 5010 thousand per oz in an
• 8:44
  environment like this. This is one of the few times in
• 8:50
  my life that it's semi rational to have it in your portfolio.
• 8:56
  The first time in Jamie Dimon's life and he's talking about
• 9:02
  easily go to 5000 or $10.10 thousand per oz.
• 9:06
  And remember, gold is the granddaddy of precious metals.
• 9:09
  That will bode well for our favorite friend, silver and also
• 9:14
  platinum and Palladium. But wait, there's more.
• 9:17
  Because in green last week, billionaire Citadel billionaire
• 9:20
  Citadel founder Ken Griffin, one of the richest people in the
• 9:24
  world, said investors were starting to view gold as safer
• 9:29
  than the dollar, calling the development quote UN quote,
• 9:33
  really concerning. OK, in red.
• 9:37
  Amazingly, both Diamond and Griffin are very wrong in
• 9:40
  believing the capital is flowing from risk assets to gold.
• 9:45
  To get a sense of just how under owned and guys this is critical
• 9:50
  still, this is the one of the most exciting things about gold
• 9:53
  and silver, how under owned it still is.
• 9:57
  Read the latest Bank of America Fund Manager Survey.
• 10:00
  So Bank of America goes out and surveys a bunch of big
• 10:04
  institutional investors and ask them a very simple question.
• 10:08
  Which of the following comes closest to your current gold
• 10:12
  position in your portfolio? As you can see, 39% said zero,
• 10:19
  another 20% said 2%. So essentially we've got almost
• 10:25
  60% saying they have 2% or way, way, way, way, way, way less of
• 10:32
  their assets in gold. OK, 40 percent, 39% I rounded
• 10:37
  up. OK, Anyway, rounding up 40% said
• 10:40
  they have 0%. Do you know what that means?
• 10:44
  Do you know, because now all across the institutional
• 10:49
  hemisphere, we're hearing people, the big institutions
• 10:53
  recommending some, some are saying 20 percent, 25%
• 10:57
  allocation to gold, right? Do you know what that means when
• 11:01
  just the smallest amount, we don't need 20%.
• 11:04
  If we got the 5% guys, it's game over.
• 11:08
  There will be like no metal available.
• 11:11
  We know what's happening worldwide.
• 11:13
  We've looked at that. But if it happens, in particular
• 11:16
  in the West, in particular in the United States of America,
• 11:19
  when the sheeple wake up and want to come join us in the
• 11:26
  Silver and Gold Party, it will be like trying to drain Hoover
• 11:29
  Dam with a drinking straw or a garden hose.
• 11:33
  I think it was Doug Casey who made that one up.
• 11:35
  I'm not taking credit, but it's a great analogy, right?
• 11:38
  For us to go from 2 out of 100 people owning precious metals to
• 11:44
  6 out of 100, which is still low, that's like 3 times as much
• 11:49
  money coming into precious metals.
• 11:51
  Now for a word from the sponsor of today's video guys, and then
• 11:56
  I will be back with more. We're going to go to one of the
• 11:59
  most beautiful places on earth and we're going to talk about
• 12:04
  this deal that about teddy bears and gold.
• 12:07
  OK, I'll be right back. The sponsor of today's video is
• 12:11
  US Gold Mining Inc. What's happening in the world
• 12:15
  right now can only be described with one word.
• 12:18
  Unprecedented. We're seeing record gold prices
• 12:22
  over $4000 per oz and billionaire hedge fund managers
• 12:27
  including Ray Dalio recently comparing the current situation
• 12:31
  to the mid 1970s and advising to own more gold than usual.
• 12:37
  Billionaire fund manager and bond guru Jeffrey Gunlock is
• 12:41
  saying to have 25% in gold and that's not excessive.
• 12:45
  The Trump administration is making changes at the Fed and
• 12:49
  recently taking significant equity positions in mining
• 12:53
  companies. This is a seismic shift in gold,
• 12:56
  silver and copper. They're all near record highs as
• 13:00
  well. For this new bull market, I'm
• 13:03
  profiling a gold copper exploration and development
• 13:06
  opportunity on US soil. The sponsor of today's video, US
• 13:11
  Gold Mining, Inc, ticker USGO on the NASDAQ.
• 13:16
  It's Whistler project in Alaska, contains the closest large
• 13:20
  undeveloped gold copper exploration project to the main
• 13:25
  population center of Anchorage. The tailwinds from Washington DC
• 13:30
  are exactly the opposite of what they were in the past 30 years.
• 13:34
  They're productive and constructive towards mining and
• 13:37
  positively contributing towards the overall rally in mining
• 13:42
  stocks. What transpired earlier this
• 13:44
  month is one of the most pivotal moments in the history of mining
• 13:48
  in Alaska, in my view. And when you couple it with the
• 13:52
  record gold prices and around $5 a pound copper prices, it has
• 13:57
  the potential for a major shift in the Alaskan resource sector.
• 14:02
  In early October, President Donald Trump and Secretary of
• 14:06
  the Interior Doug Bergum announced that the
• 14:08
  administration, acting on their previous executive orders
• 14:12
  regarding mineral resource opportunities in the state of
• 14:15
  Alaska, gave approval to the Ambler Rd. project, a proposed
• 14:21
  211 mile Rd. intended to connect the remote Ambler Mining
• 14:26
  District to the Dalton Highway. That road is seen as a key piece
• 14:31
  of infrastructure to unlock access to the mineral resources
• 14:35
  in northern Alaska. The importance is the market
• 14:39
  signal. Here's why I think you should
• 14:41
  take a look at US gold mining trading on the NASDAQ with the
• 14:45
  symbol USGO with the Whistler Gold copper project located in
• 14:50
  South Central Alaska. Alaska is clearly important to
• 14:55
  the Trump administration. Trump issued an executive order
• 14:59
  on day one of his presidency called Unleashing Alaska's
• 15:04
  Extraordinary Resource Potential on day one.
• 15:08
  The administration then issued a second executive order called
• 15:11
  Immediate Measures to Increase American Mineral Production.
• 15:16
  The executive order directs government agencies to immediate
• 15:20
  action to facilitate domestic mineral production to the
• 15:24
  maximum extent possible, including copper and gold.
• 15:30
  In addition to the federal support, support at the state
• 15:33
  level couldn't be stronger. Alaska Governor Mike Dunleavy is
• 15:37
  a strong proponent of economic growth and the infrastructure to
• 15:41
  support mining in his state, and he has personally visited the
• 15:46
  Whistler Project himself. Along with this support, the
• 15:50
  project has in 2025 been visited by US Senator Lisa Murkowski and
• 15:56
  by US Representative Nick Begich.
• 16:00
  The Whistler Project Mineral resource estimate comprises
• 16:03
  294,000,000 tons at .68g per ton gold equivalent for 6.48 million
• 16:12
  oz gold equivalent in the Indicated category, plus 198
• 16:18
  tons at .65g per ton gold equivalent for 4.16 million oz
• 16:26
  gold equivalent in the inferred category.
• 16:30
  You should review US Gold Mining's latest annual report on
• 16:33
  Form 10K and the Technical report summary incorporated in
• 16:38
  it and it's Canadian technical report titled NI 43101 Two 1024
• 16:45
  Updated Mineral Resource Estimate for the Whistler
• 16:48
  Project, South Central Alaska with an effective date of
• 16:52
  September 12th, 2024. Information on the Company, the
• 16:55
  Project and the Mineral resource estimate.
• 16:58
  These are available under US Gold Minings profile at
• 17:02
  www.sec.gov and www.sedarplus.ca.
• 17:12
  Another reason why this gets interesting in my view is the
• 17:16
  company's ownership structure. It's quite unique.
• 17:19
  Take a look at this. 78% of the outstanding shares are held by
• 17:24
  the parent company. 1 shareholder controls 78% of the
• 17:29
  shares, another 4.5% is held by management and insiders.
• 17:35
  That's over 80% of the shares being tightly held.
• 17:39
  A pivotal catalyst is now underway, which is why between
• 17:43
  the following aspects of this opportunity, I'm telling you
• 17:46
  about US gold mining symbol USGO on the NASDAQ Historic Fed rate
• 17:52
  cut cycle has commenced gold at an all time high.
• 17:56
  Trump administration has issued 2 executive orders on Alaska and
• 18:01
  the state is moving forward with a planned Rd. system, the West
• 18:06
  Susatina Access Project that will connect the Whistler
• 18:09
  project with Anchorage. And now one of the company's
• 18:13
  most important moments since inception is in the works.
• 18:18
  US gold mining has begun the process of an initial economic
• 18:22
  assessment, also known as APEA, which stands for Preliminary
• 18:27
  Economic Assessment. This study is a preliminary
• 18:30
  review of economic factors, and the timing couldn't be any
• 18:35
  better, with gold reaching prices above $4000 per oz and
• 18:39
  copper around $5 per oz. Do your own extensive research
• 18:44
  on US gold mining symbol USGO on the NASDAQ.
• 18:49
  Make sure you review US Gold Mining's annual report and other
• 18:53
  filings with the SEC when you research this opportunity.
• 19:00
  And there's even more crazy news from JP Morgan, $6000 gold, this
• 19:07
  time not from Jamie Dimon, the CEO, but from his analyst.
• 19:12
  We're going to get to that right now.
• 19:14
  But first, I want to remind you, I'm not a financial advisor.
• 19:17
  Please don't buy or sell anything based on anything I may
• 19:21
  say down here in the basement. I speak my truth what I believe
• 19:25
  about gold, silver, precious metal mining stocks, but always
• 19:28
  do your own research. Now JP Morgan analyst this time
• 19:34
  are sending out even more great reasons for us to be optimistic
• 19:38
  about what is happening in the gold and silver market.
• 19:42
  This comes from Yahoo Finance headline.
• 19:46
  Gold and silver are trading near record highs.
• 19:50
  OK, I get that on the screen. Hold on here having some tech
• 19:53
  issues. We are live.
• 19:54
  OK, there we are, Gold and silver trading near record
• 19:59
  highs. Wall Street thinks there's more
• 20:02
  to come. And wait till you hear this, All
• 20:05
  right, In yellow. His equity in bond markets
• 20:07
  looked increasingly skittish from the face of domestic and
• 20:09
  geopolitical economic tensions. This year, precious metals
• 20:14
  revived their status as a flight to safety trade.
• 20:18
  That's not the good part. Here's the good part.
• 20:21
  And there's even a little something funny thrown in here
• 20:24
  if take a deep breath. Think about this.
• 20:27
  If just half a percent of US assets held by foreign investors
• 20:34
  were to be moved into gold, for instance, the yellow metal could
• 20:39
  hit $6000 per oz. That's according to analyst at
• 20:45
  JP Morgan. 1/2 of 1% OK of US of US assets held by foreign
• 20:54
  investors and we go to $6000 per oz gold.
• 20:58
  But now they're talking about teddy bears in orange.
• 21:02
  Who who sells gold? Question mark Bloomberg, right?
• 21:07
  More mainstream media commodity index products head Jigna Gibb
• 21:12
  said. Quote, if you hold gold in your
• 21:16
  portfolio, it acts like a teddy bear in some way.
• 21:22
  It's a point of comfort, I tell you what, basement dwellers, we
• 21:27
  were always ahead of the time, right?
• 21:29
  You remember the big gold bear right there currently holding
• 21:33
  the Ledger sign? Ledger's the crypto security
• 21:36
  leader. But that bear used to be
• 21:38
  blindfolded with a $2500 blindfold.
• 21:42
  And we sat down here when gold was 1500, sixteen, $100 per oz
• 21:46
  and said that when the gold price got the 2500, we'd take
• 21:49
  the blindfold off. People said it would never
• 21:52
  happen, but we had our teddy bear.
• 21:54
  Our point of, of comfort and let's just say the the blindfold
• 21:58
  is long gone and the bear is much, much happier today.
• 22:02
  All right, you want to go to the prettiest place on earth, right?
• 22:04
  Let's talk about Italy. Italy, but let's talk about
• 22:08
  Italy and gold. This is very interesting.
• 22:11
  And maybe you're feeling a little Italian yourself right
• 22:15
  now if you pull this up. This comes from Reuters.
• 22:19
  And we got JP Morgan talking about gold.
• 22:22
  We've got Bloomberg talking about gold.
• 22:24
  Now we have Reuters. Italy's tenacious stance on gold
• 22:28
  pays off as the price soars. And OK.
• 22:32
  And basically what that article says is Italy.
• 22:35
  Italy has one of the world's larger.
• 22:37
  There it is right there. There's did I?
• 22:39
  Am I sharing the right screen? Hold on here.
• 22:41
  Yes, I am sorry about that guys. Italy has one of the world's
• 22:45
  largest central bank gold holdings.
• 22:48
  You see, United States is supposedly a number one with
• 22:51
  8000 metric tons in Fort Knox, Germany #2 Italy is the third
• 22:58
  largest holder of gold in the world.
• 23:01
  France and China are not too far behind.
• 23:04
  But what they're saying is for the size of their economy, Italy
• 23:07
  is doing very well with the current upswing that we've had
• 23:14
  with the gold price. This I want to bring you.
• 23:16
  When I saw this picture, I thought this was the prettiest
• 23:19
  place in the world. I know, maybe pictures of our
• 23:21
  family and everything else, definitely prettier.
• 23:24
  But from a precious metals perspective, don't you just want
• 23:27
  to be there? Maybe we could do a live stream
• 23:30
  from that location sometime. And that is the a secure room
• 23:35
  inside the Bank of Italy's gold vault is filled with stacked
• 23:38
  gold bars stored along the corridor and behind metal
• 23:41
  security cages in this undated handout picture in Rome, Italy.
• 23:46
  The Bank of Italy handout via Reuters.
• 23:49
  Wonder if I can make that full screen.
• 23:51
  Maybe we'll just sit here and stare at it for a while.
• 23:54
  Wow. Oh, there's more.
• 23:56
  Hold on here. Look at that.
• 23:58
  Oh my gosh. OK, that makes my blood pressure
• 24:03
  go up. Is that what your basement looks
• 24:05
  like? All right, guys, thanks for
• 24:08
  joining me today. OK, it's a big deal when we're
• 24:11
  down here in the basement. I think we have big good things
• 24:14
  to come Continued like there's always going to be bumps in the
• 24:18
  road like we had on Friday. We could have weeks, months,
• 24:21
  maybe even quarters. But when I look out over any
• 24:24
  extended time frame, it's pretty clear with what's going on in
• 24:28
  the world. Remember those examples of what
• 24:31
  we saw in Asia? It's pretty clear when we have
• 24:34
  the big mainstream players, the largest financial institutions
• 24:39
  in the world speaking very positively about gold and silver
• 24:44
  that we are headed in the right direction.
• 24:46
  I'm, I want to look forward to doing it with you down here in
• 24:49
  the basement. It's a big honor when you join
• 24:51
  me. Please subscribe to the channel.
• 24:54
  But most importantly, I want you to come back.
• 24:56
  Have a great day and I'll see you.