Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⚠️URGENT! - Don't Ignore This BIG SILVER Pivot - (USA State Legal Tender Laws + Gold Price)
Transcript
- 0:00We have massive. Changes in the world right now,
- 0:03massive changes in. Gold and silver.
- 0:06We're going to have some fun and we're.
- 0:08Going to stay on top of it. We got a lot to cover today
- 0:10guys. Thank you for being.
- 0:12Here. Let's do a quick update.
- 0:14On what is happening in the. Gold and silver markets, we're
- 0:17going to go. To Kitco for this we have price
- 0:19gains. It'll be like that for gold.
- 0:21And silver amid. Friendly Friendly outside.
- 0:24Markets. Or the headline could just say
- 0:27just wait for a tweet. To.
- 0:29Come out from Washington in DC. But a couple key things we want
- 0:32to talk about here. Gold and silver prices are
- 0:34higher. In US trading Wednesday with
- 0:37buying interest supported. By a weaker US.
- 0:40Dollar index and farmer crude oil.
- 0:42Prices. Treasury yields have also.
- 0:44Take down a bit blah blah, the latest on the war from the
- 0:47middle. East because.
- 0:49This is the noise that is. Impacting us short term.
- 0:52Right US, Iran ceasefire indefinitely extended.
- 0:56OK. Peace talks on hold ships.
- 0:58Come under Iranian. Gunfire near the Strait of
- 1:01Hormuz, Iran oil. Tankers go dark to sneak past US
- 1:05blockade. And Trump.
- 1:07Says that they caught the. Trump says that the United.
- 1:11States caught Chinese gift for. Iran testing a red line?
- 1:16OK. The big key take away here guys
- 1:18is we are being. Buffeted around.
- 1:20Remember yesterday? Right crazy down day in the
- 1:23price of gold and silver. Today, we're green.
- 1:26All a bunch of short term noise. Right, the big.
- 1:29Long term fundamental factors are still in case and in place,
- 1:33but in the interim we're going to have to deal with.
- 1:36A very volatile. Environment.
- 1:38Let's. Go take a look at the.
- 1:39Chart I was. I found something.
- 1:41Interesting. Right before we.
- 1:43Came on live on the chart. We're going to.
- 1:46Go out to. CNBC to the silver chart.
- 1:49Now we're going to start. Here.
- 1:51Hold on one second. Uh oh, hold on.
- 1:55I'll be right back. I'm back.
- 1:57And now? For some reason.
- 1:59There's been some. Weird.
- 2:02Snafus going on here. Hold on.
- 2:05OK, Now see if it comes up. It's up.
- 2:10OK. We're going to go out to this
- 2:11chart from CNBC. Very interesting if we start on
- 2:16the one day chart. Yeah, we like that.
- 2:18We're up 2% with the silver price.
- 2:21But if we slide over to the five day chart.
- 2:23All right. Do you see what I'm seeing?
- 2:25And then we go to the one month chart.
- 2:27Right, which is? The one that that is.
- 2:29Definitely slanted upwards, but what if we go?
- 2:32To a three month chart, it starts to become more and more
- 2:35clear just how insane it has been or not been.
- 2:41Like it? Just look at this like we've.
- 2:43Been in this? Range basically right right
- 2:46between 90 and 70. Dollars, but it feels like.
- 2:50Where we are now. In the high 70s is like a total.
- 2:54Consolidation A total base that's been built in the.
- 2:58Silver market like. Like all the people who wanted
- 3:03to get out. Got out and now around.
- 3:05This 75 to. 80, maybe 80. $2.00 range we've.
- 3:09Built a base. From which we can go forward
- 3:12into the summer, I know, don't get mad at me.
- 3:15But there are some analysts out there saying that we could see
- 3:18203 hundred. 400 possibly. Even $500.
- 3:22Silver this. Summer look.
- 3:24I don't have a crystal ball. Always be responsible, but it's
- 3:27not out of the realm of possibilities.
- 3:29And we definitely we can say 1. Thing for sure.
- 3:33One big take away. That we can have from the last
- 3:3710 weeks. Since silver had.
- 3:39That massive you remember? Was that Black Friday for
- 3:42silver? January 28th when it went from
- 3:45like 120 down to. Whatever, $70 per oz.
- 3:49Is that over these last 10 weeks we have?
- 3:52Absolutely built a. Foundation like.
- 3:55We're in. We're in.
- 3:55Here's what's Even more important.
- 3:57We're in a new. Price paradigm, OK.
- 4:01Guys. A year ago, $33 silver.
- 4:05Was the norm. Getting past $50 was a.
- 4:08Pipe dream. And now it.
- 4:10Feels like. I could be.
- 4:12Wrong but it. Feels like we're in a new price
- 4:15regime for silver. Where like we talk about.
- 4:18All the time. 72. Dollars Silver.
- 4:21That's like the new line in the. Sand like we've.
- 4:24Got this solid base the solid. Support.
- 4:27That maybe it won't. Be this summer.
- 4:29Look, none of these people, nobody has a crystal.
- 4:31Ball OK, although. People like Michael.
- 4:34Oliver had been very bearish. On gold and silver in the.
- 4:37Past at times. He's not always.
- 4:40Wildly. Optimistic.
- 4:41And he is wildly optimistic. About the short term prospects
- 4:44that. We could have for silver.
- 4:46Then we're. Rooting for him.
- 4:47We'll start the Michael. Oliver fan club if we get the 2.
- 4:50103. $100 silver. By the summer.
- 4:53But at minimum, I think what we can say is that we are in a new
- 4:57pricing. Regime when it.
- 4:58Comes to silver I like the thought of going below $70 seems
- 5:04very. Unlikely at this.
- 5:05Point and don't. Forget, I'll say.
- 5:09It one final time one year ago. The idea?
- 5:12Of getting above. $50 people said we were crazy for that.
- 5:16So anyway. Let's let's talk.
- 5:18About some other technical stuff going on?
- 5:20Very important. Silver lease rates.
- 5:22Do you know what the silver lease rates are?
- 5:24Well, they're. Apparently they're real
- 5:25important and we're going to learn.
- 5:27About them together, but let's go see what they're saying about
- 5:30silver lease rates. And some.
- 5:32Oh, shall we? Say unusual activity on that
- 5:35front. Karl Marx.
- 5:37Shares with us. The one month silver.
- 5:39Lease rate just. Doubled from .2 to point .43.
- 5:44Percent. This was as of yesterday, says.
- 5:46Anyone only watching? The silver.
- 5:49Price is missing the real. Story more more tweets All this
- 5:53people are paying. Apparently it's a big, big deal.
- 5:57And there's some unusual things going on.
- 5:59But what are the silver lease? All right, silver lease rates
- 6:03are a market. Signal the one month.
- 6:06Silver lease rate indicates the cost.
- 6:08Of borrowing physical silver and serves.
- 6:11As a vital. Signal of immediate.
- 6:13Market tightness. Why it?
- 6:15Matters physical availability. A rising or.
- 6:20Negative lease rate. Often signals a.
- 6:22Shortage of physical. Metal as lenders demand higher
- 6:25returns. To part.
- 6:29With their bullion market sentiment it.
- 6:32Reflects the opportunity. Cost of holding silver.
- 6:35High rates suggest. That industrial or investment
- 6:39demand is outstripping the. The ready.
- 6:42Supply, OK now. Any indication you want?
- 6:47Further proof. That things are.
- 6:49Screwed. Up in the silver market, Well,
- 6:50let's go talk to our. Friend the dude.
- 6:53Because the dude shared with us yesterday was a horrible.
- 6:56Day in the silver market, I wonder.
- 6:58I wonder if there was a lot of paper.
- 7:00Make believe comex. Silver traded yesterday.
- 7:04We like to call. It Fantasy Island.
- 7:07Silver, you're probably as old. As me.
- 7:08And remember. That show, it'd be Friday night,
- 7:10Saturday night at home. Mom would make some popcorn.
- 7:13You'd be eating it, It tastes so good.
- 7:15And Fantasy Island would on TV and that little guy.
- 7:18Tattoo would say. Deplane, deplane.
- 7:21Look, boss, it's the silver make believe comex plane coming to
- 7:25the island. Yeah, well.
- 7:28Let's go. See what the Comex did
- 7:29yesterday. The dude shares this with us.
- 7:34Yesterday when the silver. Price got smashed by what, 45?
- 7:37Percent. Oh, they only.
- 7:39Traded 405 million paper oz OK. 400.
- 7:44And 5 million. Paper ounces.
- 7:47Because we like. To be engaged.
- 7:49In complex mathematics. If you take. 400 million paper
- 7:53ounces. That were traded yesterday.
- 7:55On the comex. Paper make believe market right
- 7:59and then factor that into the fact that on an.
- 8:01Annual basis 360 five days a year.
- 8:05Seven days a week. 24 hours a day, the world.
- 8:08'S people are in tunnels, underground, in pits.
- 8:12Everywhere. Digging up physical.
- 8:14Silver. It's hard.
- 8:14Work and much respect. To those people all throughout
- 8:18the entire. Year they only are able to
- 8:20create dig up 800 million oz but the comex.
- 8:25Right. I'm disgusted.
- 8:26By this when I think. About it.
- 8:28They can make. Believe.
- 8:29That they had. 400 million ounces.
- 8:32In one day, right, they trade half the equivalent of half of
- 8:37all. The silver that's created like
- 8:40by hard work. Real silver like this.
- 8:43Now here I'll show. You.
- 8:44This. Have I shown you this?
- 8:45Before this. Is my.
- 8:46Favorite piece of silver artwork?
- 8:49That's a one ounce silver round from channel sponsor First Mint,
- 8:54right? That's their Buffalo.
- 8:56Round. That silver, this silver, right?
- 8:59Here that you're. That you I'm holding in my hand
- 9:02OK it. Comes directly from First
- 9:04Majestic Silver in Mexico miners.
- 9:07Dig it up. Out of the ground, OK, First
- 9:09Majestic owns First Mint, so the silver goes from the mine
- 9:14directly to the mint and then? Directly to you.
- 9:17And they create some world. Class Silver.
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- 9:22Love them, I love them. Right, the feedback.
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- 9:31comes to 1st Mint. OK, let's go out to their
- 9:34website real quickly so you know where to go.
- 9:36To check them out for yourself, they make.
- 9:39This. Live stream.
- 9:41Possible free shipping. On orders over $299 and they
- 9:45have a discount code. VIPRB like.
- 9:48Very important person Ron's basement, all cut types of
- 9:52products you can. Go to their store.
- 9:54They have bars, rounds, they even have personalized silver
- 9:57now. Which is very.
- 9:58Cool. You can have.
- 9:59A silver. Bars engraved.
- 10:01Engraved, ingrained like we are ingrained in the loving silver.
- 10:06Thank you first meant for sponsoring Rons Basement a real.
- 10:091st. Class company and again from the
- 10:11mind to the meant to you. It never gets touched by the
- 10:14Comex or the LBMA. Is price contango back?
- 10:18Right, the markets are, the silver market is so screwed up
- 10:20earlier. This morning.
- 10:22The markets were backwardated, OK.
- 10:25Which is. Unusual now is.
- 10:26Contango back. Let's go out.
- 10:28And check on the spot. Price of silver This is the
- 10:31immediate price of silver. And we are sitting.
- 10:34At 78. Dollars and three cents.
- 10:38I won't remind you what the price was one year ago and how.
- 10:41Grateful. We can be to have.
- 10:43This now let's. Go look.
- 10:45So 7870 OK 70. Seven.
- 10:48Yeah, 70. Eight O 3.
- 10:50If we go out. OK, so.
- 10:52We are barely. In a.
- 10:54State of backwardation. At this point earlier this
- 10:57morning, it was unusual. We were in a big state of
- 11:00contango, meaning that. The futures price when I.
- 11:04Checked. Was like a.
- 11:05Dollar more. The take away here is.
- 11:07Right, the normal. Healthy state of a.
- 11:10Of any commodity market, including gold, including silver
- 11:14is what's. Called a state.
- 11:15Of contained contango. That means.
- 11:18That the the the immediate spot. Price is.
- 11:21Lower than the. Futures price What?
- 11:23We've been seeing. Lately is.
- 11:25Sometimes called backwardation OK when the.
- 11:28Spot price is actually. Higher than the futures price.
- 11:32And what we've been seeing. More and more lately.
- 11:34Is a term. That we basement dwellers have
- 11:36coined, right? Which is a state of backward.
- 11:39Tango, which means it's. Real close to each other, the
- 11:42spot price and the futures price, which is still.
- 11:44Kind of. Unusual.
- 11:45And that's. Been the case.
- 11:46As of late. By the way, if you like coming
- 11:48up with these. Fun terms like debasement, trade
- 11:51which we invented, and a number of others.
- 11:54Please subscribe to. The channel that's.
- 11:56Free give the. Video A thumbs up.
- 11:58Leave a comment in the comment section so we can learn from
- 12:01you. As well.
- 12:02All right, let's talk about solar.
- 12:04And then we're going to talk. About the States, there's like
- 12:06big. Laws changing state by state in
- 12:09the United States A. Lot to.
- 12:10Do with what's going on in silver and gold.
- 12:13But first. Let's talk about.
- 12:14Solar. Because solar.
- 12:16Is still the. Driver and will continue to be
- 12:19and we got. A couple, couple.
- 12:21Big key. Points that nobody.
- 12:23Else is talking about, but let's get out here. 1st.
- 12:26To here we go, we'll set the table.
- 12:31With this from AI Rabbi Weimar Silver Baron, more silver demand
- 12:37solar energy. Is taking off across.
- 12:40Africa I'll. Tell you why.
- 12:41That's important. Solar energy in Africa is
- 12:44accelerating with demand for steady.
- 12:47Electricity and low. Cost Solar panels driving the
- 12:50surge. Where are all.
- 12:51Those solar panels coming from, they are coming from China.
- 12:55Who just. Imported like a record amount of
- 12:58silver for the month. Of March China go.
- 13:00Figure OK, but this is what nobody's talking about.
- 13:03That's so key with silver it's. Crazy.
- 13:07What's going on right now? OK, think about it right?
- 13:10Africa, I know us in the West. A lot of us, including myself,
- 13:14don't even understand how. How, how, how much the African.
- 13:18Economies are growing. All throughout Africa, a lot of
- 13:22people. Right in America.
- 13:24I can tell you that don't even realize that Africa they think.
- 13:27Africa in whole. Is a country.
- 13:29They don't even realize it's a continent.
- 13:31OK, but. Nonetheless, these countries in.
- 13:33Africa are expanding like. Crazy.
- 13:37India, same thing. China, but there's a lot of.
- 13:40People that live in rural areas and think about.
- 13:43This with with Solar I. Always mix up.
- 13:45Those words silver. And solar, I wonder.
- 13:48Why anyway? Solar is the answer.
- 13:52If they live. Out in the.
- 13:53In the in the. Rural areas, OK.
- 13:56And they want. Electricity.
- 13:58They are. They are not.
- 13:59Going to build massive power plants in Africa and then put
- 14:03in. All the infrastructure, all the
- 14:05wires to get to all those people.
- 14:08It's a massive undertaking where I.
- 14:09Live in a suburb. In Saint Louis, they did it. 60
- 14:12years ago. All that copper, the big.
- 14:15Power plants, they have all that new runs and bond.
- 14:17You know it's. Pretty reliable.
- 14:19But nonetheless, they aren't going to do.
- 14:21That in rural. Areas of Africa.
- 14:23India or China think about this. It's crazy and it makes sense,
- 14:27right? Putting if you live out in the
- 14:29in the rural area of India or. Africa.
- 14:31Putting solar panels directly on your.
- 14:34Roof it's just told it's the. Total answer.
- 14:37It totally makes. Sense.
- 14:39Right, you've got your your. Power plant is.
- 14:41Literally on the roof of your. House.
- 14:44And there's no wires. I mean very little wiring
- 14:47involved. To get that electricity from
- 14:49your. Roof.
- 14:50To the. Light bulb that's hanging in
- 14:52your living area or bedroom, whatever they have what?
- 14:55You know what I'm saying? Like.
- 14:56You don't have to build out all that.
- 14:58Infrastructure spend. Billions of dollars.
- 15:01On power plants spend. Billions of dollars on running
- 15:04all these high tension. Copper wires that.
- 15:06Get knocked over. In storms.
- 15:08Are are susceptible to to. Vandalism or.
- 15:11Whatever, right, Okay. It makes sense.
- 15:13And then on. Top of that.
- 15:15Think about what's going. On right now with the actual.
- 15:18Energy crisis? In the.
- 15:19World Solar. And silver.
- 15:22Are going to. Continue to expand.
- 15:24And the the. Expansion of the economies
- 15:27people in. Africa OK that are getting money
- 15:31entering the consumer class? Where they can actually buy
- 15:34solar panels? People in India hundreds 100.
- 15:37Million people in the next 5 years they're.
- 15:39Going to get. Electricity.
- 15:41Right, and have. Have extra money to buy?
- 15:43Physical silver 'cause they also love.
- 15:46Physical silver. And the same with China, right
- 15:49guys the the opportunity when it.
- 15:50Comes to silver and when it. Comes to what can happen.
- 15:53In the world from energy and the green energy is unbelievable.
- 15:58Here's one more point on this wrong one.
- 16:01Did I share the wrong screen? No.
- 16:04OK, hold on another. One same from the same guy.
- 16:07Europe starts to panic by a products.
- 16:10Containing silver warning of Iran's long impact the EU.
- 16:14Double S that double double s. Down on clean energy the.
- 16:18Iran war. Energy crisis should.
- 16:21Act as a. Wake up call.
- 16:23No, I'm. I'm not.
- 16:25Sharing. Thank you.
- 16:25Upstairs, Susie. It keeps turning off for some.
- 16:30Hold on, guys. I'm going to get the screen up
- 16:33one second. OK, we're going to go to the.
- 16:36Dude first. All right, and hold on here.
- 16:41I don't know what the streams every, everything's been going
- 16:44bonkers lately. Here we go.
- 16:47All right. Now we got the right screen up.
- 16:49Yes, I believe. Why is it not?
- 16:52Working Oh my gosh, it went away again.
- 16:55Hold on guys, we're having some technical.
- 16:57Issues stage OK. I'm here now.
- 17:02Let me try to share this one more time, then I'll set to tell
- 17:05you. What it says?
- 17:11Let's. Go to first met, see if we can
- 17:15share that. OK, you can see.
- 17:18That all right. Now we're going to go.
- 17:20Over here and do this. I'll just leave myself on the
- 17:26screen. I don't.
- 17:27Want to mess? With anything that says warning.
- 17:29Hi, guys. Look over that way, OK.
- 17:32OK, the Iran war Energy. Crisis should act as a wake up
- 17:36call for Europe to redouble their efforts to reduce.
- 17:40Reliance on fossil. Fuels that came.
- 17:44From. Brussels.
- 17:45That's like the head of the EU, they said.
- 17:47That on Wednesday. Warning that the conference
- 17:50conflicts effects. Will be felt for years, so see.
- 17:54If I can get myself back on the screen here.
- 17:57There we go. All right.
- 17:58So right. Africa, right Asia, China, India
- 18:04and now. Europe as well.
- 18:05Green energy, Is this making sense yet?
- 18:08For us? I'm not saying that to you.
- 18:09For me, I. Mean like whoa.
- 18:11Take a step. Back we know.
- 18:13That solar. Is like the one of the.
- 18:15Biggest demand sources? For silver, yeah, sure.
- 18:19They're trying to thrift and find.
- 18:20Ways to cut. Back but.
- 18:21They really can't. OK.
- 18:23And. Everywhere in the.
- 18:25World everywhere we look. It we're getting more and more
- 18:27news that. That the world.
- 18:29Is going towards. Solar Next.
- 18:31We're going to talk about some news coming out from.
- 18:33States in the United. States when it comes to gold and
- 18:36silver. Legal tender legislation.
- 18:39Before I do. That let's say.
- 18:40Thank you to Brixton Metals for sponsoring Ron's basement.
- 18:43That's the stock. I own for.
- 18:44Years before they sponsored the channel, they're a Canadian
- 18:48metals exploration company with four.
- 18:51Projects all. Located in Canada and North
- 18:53America. Copper, gold, Silver.
- 18:56Nickel and a number of other metals.
- 18:58You can learn more about them at brixtonmetals.com and our
- 19:01friends at First Mining Gold, another stock that I.
- 19:05Own for years and years, probably 6.
- 19:07Years now, long before they sponsored the channel.
- 19:11They are a. Gold focused company.
- 19:13They have two. Huge.
- 19:14Development stage projects. In Canada, spring pole, in
- 19:18Ontario, in Duparque, in Quebec, there aren't a lot of big
- 19:21development stage projects located in good jurisdictions
- 19:25like Canada. You can learn more about them at
- 19:28firstmininggold.com. OK, I'm going to try to share
- 19:31the screen again. See if this works.
- 19:34I don't know what was happening. Hold on here.
- 19:37Here we go. OK.
- 19:38More from Bloomberg. This is.
- 19:40Interesting in this. Right, the United States.
- 19:43Is the the sleeper cell? When it comes to gold and
- 19:46silver? Gold and silver get political.
- 19:48Backing as dollar and inflation hedge.
- 19:51OK from Bloomberg. Listen to this.
- 19:54Recent Bills. From Republican LED.
- 19:57States are a. Reminder.
- 19:58Of the structural. Support on this.
- 20:01Is from Bloomberg Underpinning precious metals gold and silver.
- 20:07Several U.S. states have proposed.
- 20:09Legislation to allow gold and. Silver to be used as legal.
- 20:13Tender including now Georgia, Arizona, Oklahoma.
- 20:19Iowa and Utah. As a way.
- 20:21To hedge against a weakening dollar and higher inflation guys
- 20:26this. Is a big.
- 20:27Deal. And we know.
- 20:28What's? Going on in Wyoming, right, a
- 20:30state depository we know. Texas those.
- 20:33Are the new? States we know.
- 20:35Massachusetts, I think. Florida, Missouri.
- 20:37Where I live have already. Passed forms of legal tender
- 20:40legislation. This could create a huge.
- 20:43Wave of demand for the metals. This shows us that the states
- 20:48because they're. Be able to act a little
- 20:50independently. From the federal government.
- 20:52See what is. Coming.
- 20:54Think about it, OK? And it could.
- 20:56Create right part. Of what?
- 20:58Could be a huge. Wave of demand from the United.
- 21:02States for the. Precious metals because the
- 21:04statistics. About the number.
- 21:07Of people in the United States of America, my own country I can
- 21:11say that with a look of disgust on my face the number of people
- 21:15who own actual metals it's. Despicable.
- 21:19OK, everything, but it's exciting at the same time
- 21:24because think about it. Think how great the gold and
- 21:27silver prices have. Done.
- 21:29Over the last. 16 months. OK, just because.
- 21:34Of demand from. The rest?
- 21:35Of the world. Right, the market for gold and.
- 21:38Silver are worldwide. It's not just the United States
- 21:43of America. But but if those people.
- 21:46In the United States and more and more states.
- 21:49Start to wake. Up and we.
- 21:51Like to affectionately refer. To those people.
- 21:54As the sheeple. They wake up right and they're
- 21:59like, oh, we need to get some gold.
- 22:00It could be. The most unbelievable wave of
- 22:04new demand for gold and silver that we have.
- 22:07Ever. Ever.
- 22:08Seen. I don't know.
- 22:10I'm super excited about where. This is heading, man, we've got
- 22:13so much more. I'll be back on tomorrow.
- 22:15I got a. Lot more to talk about but
- 22:17thank. You for being down here in the
- 22:18basement with me today, my fellow basement dwellers.
- 22:21It's fun to hang out. With you down here, it's a great
- 22:24community of people. Thank you for all the support on
- 22:26behalf of myself. And of course.
- 22:29Our lovely Co host upstairs Susie.
- 22:32Thank you. Let's check in with upstairs
- 22:33Susie. To make sure she doesn't want to
- 22:35say a few. Words or that.
- 22:37We missed anything. Upstairs, Susie, are you there?
- 22:41Over I think. She did great.
- 22:45I don't see anything else. You almost.
- 22:48Said 100. Thumbs up.
- 22:49All right, Yeah, we did a we did a snap.
- 22:52A snap. Live stream, so thanks again
- 22:54guys. Please don't forget if you hit
- 22:56subscribe that's free. Leave a.
- 22:58Comment Most important, take care of yourself and Susie and I
- 23:02will look forward to seeing. You.
- 23:03Next time down here in the basement, bye bye.